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basis and that except as may be expressly stated in this Lease or the DDLA, Lessee is not relying
<br />on any representations or warranties of any kind whatsoever, express or implied, from Lessor as
<br />to any matters concerning the Leased Premises, including without limitation: (i) the quality,
<br />nature, adequacy and physical condition of the Leased Premises, including, but not limited to,
<br />appurtenances, access, landscaping, parking facilities, (ii) the quality, nature, adequacy, and
<br />physical condition of soils, geology and any groundwater, (iii) the existence, quality, nature,
<br />adequacy and physical condition of utilities serving the Leased Premises, (iv) the development
<br />potential of the Leased Premises, and the Leased Premises' use, merchantability, or fitness,
<br />suitability, value or adequacy of the Leased Premises for any particular purpose, (v) the zoning
<br />or other legal status of the Leased Premises or any other public or private restrictions on use of
<br />the Leased Premises, (vi) the compliance of the Leased Premises or its operation with any
<br />Environmental Laws, covenants, conditions and restrictions of any governmental or quasi -
<br />governmental entity or of any other person or entity, (vii) the presence or removal of Hazardous
<br />Material, substances or wastes on, under or about the Leased Premises or the adjoining or
<br />neighboring property; (viii) the quality of any labor and materials used in any improvements on
<br />the Leased Premises, or (ix) the condition of title to the Leased Premises.
<br />Section 2.7 Lessee to Rely on Own Experts. Lessee understands that notwithstanding
<br />the delivery by Lessor to Lessee of any materials, including, without limitation, third party
<br />reports, Lessee will rely entirely on Lessee's own experts and consultants and its own
<br />independent investigation in proceeding with the leasing of the Leased Premises.
<br />ARTICLE 3.
<br />THE IMPROVEMENTS
<br />Section 3.1 Construction. Lessee shall cause the Improvements to be constructed in
<br />substantial compliance with the Construction Plans approved by City and the terms and
<br />conditions of the land use permits and approvals and building permits, including any variances
<br />granted for the Improvements to be approved by Lessor, within ( ) months from
<br />the award of a preliminary reservation of low income housing tax credits for the Improvements
<br />from TCAC. Any and all Improvements constructed by or on behalf of Lessee shall be
<br />constructed in a good and workmanlike manner, in compliance with all applicable Legal
<br />Requirements. Except as may be specified in the documents evidencing the City Loan and any
<br />City financing for the Project that may be approved by the City in its sole discretion, Lessee shall
<br />bear the entire and sole cost of planning, designing, engineering, financing, constructing,
<br />supervising, and inspecting the Improvements, including all fees and mitigation measures. City
<br />acknowledges that as of the Commencement Date, the City has approved the Construction Plans.
<br />Section 3.2 Liens. Lessee shall not have any right, authority or power to bind Lessor,
<br />Lessor's Estate, or any interest of Lessor in the Land or the Leased Premises, for any claim for
<br />labor or material, or for any other charge or expense, lien or security interest incurred in
<br />connection with Lessee's use of the Land, or the development, construction or operation of the
<br />Improvements, or any change, alteration of addition thereto. Lessee shall have the right to
<br />encumber Lessee's Estate with security instruments required in connection with the Approved
<br />Loans, which Approved Loans shall not require the Lessor's consent, and with utility easements
<br />and other customary easements necessary and incidental to the development, construction and
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