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<br />4859-3312-3005v4
<br />Leased Premises or the adjoining or neighboring property; (viii) the quality of any
<br />labor and materials used in any improvements on the Leased Premises, or (ix) the
<br />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,
<br />third party reports, Lessee will rely entirely on Lessee’s own experts and
<br />consultants and its own independent investigation in proceeding with the leasing of
<br />the Leased Premises.
<br />ARTICLE 3.
<br />THE IMPROVEMENTS
<br />Section 3.1 Construction. Lessee shall cause the Improvements to be rehabilitated in
<br />compliance with the Construction Plans approved by City and the terms and
<br />conditions of Project land use permits and approvals and building permits. Any
<br />and all Improvements constructed or rehabilitated by or on behalf of Lessee shall
<br />be constructed and rehabilitated in a good and workmanlike manner, in compliance
<br />with all applicable Legal Requirements. Lessee shall bear the entire and sole cost
<br />of planning, designing, engineering, financing, constructing, rehabilitating,
<br />supervising, and inspecting the Improvements, including all fees and mitigation
<br />measures. Lessor acknowledges that as of the Commencement Date, the City has
<br />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
<br />any claim for labor or material, or for any other charge or expense, lien or security
<br />interest incurred in connection with Lessee’s use of the Land, or the development,
<br />rehabilitation, construction or operation of the Improvements, or any change,
<br />alteration or addition thereto. Lessee shall have the right to encumber Lessee’s
<br />Estate with security instruments required in connection with the Approved Loans,
<br />and with utility easements and other customary easements necessary and incidental
<br />to the development, rehabilitation, construction and operation of the
<br />Improvements, provided that such easements are subject to the approval of Lessor,
<br />which shall not be unreasonably withheld, conditioned or delayed.
<br />The Lessee shall not create or permit or suffer to be created or to remain upon the
<br />Lessor’s Estate or any interest of Lessor in the Land or the Leased Premises, or upon the Leased
<br />Premises, or any part thereof, and will discharge, any lien, including, but not limited to, the liens
<br />of mechanics, laborers, materialmen, suppliers or vendors for work or materials alleged to be
<br />done or furnished in connection with the Leased Premises or the Project, or any part thereof. If
<br />any claim of lien is filed against the Lessor’s Estate or any interest of Lessor in the Land or the
<br />Leased Premises, or a stop notice is served on any other lender or other third party in connection
<br />with the Leased Premises or the Improvements, or upon the Leased Premises, or any part thereof,
<br />then the Lessee shall, within twenty (20) days after such filing or service, either pay and fully
<br />discharge the lien or stop notice, effect the release of such lien or stop notice by delivering to the
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