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and management of the Project. Lessee agrees to strictly adhere to all of the agreements, covenants and conditions imposed upon Lessee as set forth in this Lease which includes the Exhibits to this Lease. 3. Term. The Term of this Lease shall commence on June 1, 1988 (the "Commencement Date ") and, unless sooner terminated or extended as herein provided, shall be for fifty (50) years, terminating at midnight on May 31, 2038. Notwithstanding any other provision contained in this Lease, the parties agree that this Lease shall terminate on the second anniversary of the Commencement Date if, and only if, construction of the Project has not commenced. Lessor has the right to terminate this Lease after the termation of the HUG tern and the approval of any holder of a note secured by the Property (See Section 23). 4. Rent. (a) Lessee shall pay to Lessor, ground rent in the amount of One Dollar ($1.00) per year (the "Rent "). Annual payments of Rent shall be made in advance on or before each and every successive anniversary date of this Lease, continuing throughout the term of this Lease. Rent (and all other sums payable by Lessee to Lessor under this Lease) shall be paid by Lessee to Lessor in lawful currency of the United States of America at Lessor's address for notices as set forth below, or to such other person or at such other place as Lessor may from time to time designate by notice in writing to Lessee. (b) The parties understand and agree that the Rent has been set at a nominal amount for the specific purpose of assisting Lessee in operating and maintaining the Project set forth in Section 5, below. In consideration of the nominal amount of the Rent and the other financial assistance from the Lessor to Lessee, Lessee shall use the land and operate the Project in accordance with Section 5. 5. Use of Land and Assurances of Lessee. (a) The Land shall be used by Lessee for the purpose of constructing a C:GDLEASE.EHI -9-