GROUND LEASE - RIDGE VIEW COMMONS II

TABLE OF CONTENTS i 4859-3312-3005v5 PAGE ARTICLE 1. DEFINITIONS.................................................................................................... 1 Section1.1 Definitions.................................................................................................. 1 Section1.2 Exhibits...................................................................................................... 7 ARTICLE 2. LEASE OF THE LAND...................................................................................... 7 Section2.1 Lease of Land............................................................................................. 7 Section2.2 Term........................................................................................................... 7 Section2.3 Use............................................................................................................. 7 Section 2.4 Possession.................................................................................................. 8 Section 2.5 Memorandum of Lease.............................................................................. 8 Section 2.6 AS -IS Conveyance.................................................................8 Section 2.7 Lessee to Rely on Own Experts..................................................9 ARTICLE 3. THE IMPROVEMENTS Section3.1 Construction............................................................................................... 9 Section3.2 Liens......................................................................................................... 10 Section 3.3 Permits, Licenses and Easements ........................................ Section 3.4 Title to Improvements.............................................................................. 11 Section 3.5 Benefits of Improvements During Term ................ ARTICLE4. RENTS.............................................................................................................. 12 Section4.1 Ground Rent............................................................................................. 12 Section4.2 Payments.................................................................................................. 12 ARTICLE 5 TAXES AND OTHER IMPOSITIONS; UTILITIES ...................................... 12 Section 5.1 Payment of Impositions........................................................................... 12 Section 5.2 Possessory Interest Taxes........................................................................ 13 Section 5.3 Contested Taxes and Other Impositions .................................................. 13 Section 5.4 Valuation Assessment/Property Tax Exemption ..................................... 13 Section 5.5 Failure to Pay Impositions....................................................................... 13 Section5.6 Utilities..................................................................................................... 13 ARTICLE 6. INSURANCE .................................................................................................... 14 Section 6.1 Required Insurance Coverage.................................................................. 14 Section 6.2 Insurance Policies and Premiums ............................................................ ......................... 15 Section 6.3 Proceeds of Insurance.............................................................................. 16 ARTICLE 7. MAINTENANCE, ALTERATIONS, REPAIRS AND REPLACEMENTS............................................................................................ 17 i 4859-3312-3005v5