Common use of Options to Extend Term Clause in Contracts

Options to Extend Term. Landlord hereby grants to Tenant the right to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by two (2) additional successive terms of five (5) years each by giving Landlord written notice of its intention so to do in each instance at least one (1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon the same terms and conditions as set forth in this Lease, except that the Fixed Rent during the extended term shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option to extend the term, Tenant shall be deemed to have elected not to exercise its said right to extend the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary set forth above, Tenant shall not have the right to exercise any option to extend the term of this Lease (i) during the time commencing from the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paid, or (iii) as to the second and third Extension Options, if the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option be assignable apart from this Lease.

Options to Extend Term. Landlord hereby grants to Tenant the right two options to extend the term of this Lease (the "Extension each a “Renewal Option") ”), each option being for one (1) additional term of ten (10) years followed by two (2) additional successive terms a period of five (5) additional years (each a “Renewal Term”) and each option being conditioned upon the terms set forth in this Section 4.1. Each Renewal Option is exercisable only upon strict compliance with the terms set forth herein. If there is a default by giving the Tenant prior to the start of the Renewal Term which default is not cured within the applicable notice and cure period, the Renewal Option may be terminated by the Landlord at Landlord’s option upon five (5) business days notice to the Tenant in which event the Renewal Option and all subsequent Options shall be void ab initio. The Option may be exercised only by written notice of its intention so delivered by Tenant to do in each instance at least one (1) year (but not more Landlord no later than two years) 12 months prior to the expiration of the then-then current term, TIME IS OF THE ESSENCE. No Renewal Option may not be exercised more than eighteen (18) months prior to the end of the then current Term. The term exercise of a Renewal Option is valid only if it is delivered on time and is unconditional. Tenant may only exercise its Renewal Option if, on the date of delivery of the notice to Landlord, Tenant is not in default of this Lease beyond the expiration of any applicable cure periods. If the parties do not agree on a monthly Base Rent for each month of the renewal period no later than 240 days prior to the end of the then current Term, the Renewal Option shall become void and the lease shall the terminate as so extended of the end of the then current Term as if there had been no option exercise. The lease of the Premises for the applicable renewal shall be upon on the same terms and conditions as set forth contained in this Lease, Lease except that (i) the Fixed monthly Base Rent during the extended term shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice monthly Base Rent as agreed between the parties for such period and (ii) the number of its intention to exercise its option to extend the term, Tenant available renewal options shall be deemed reduced by one. The Initial Term and all Renewal Terms (if exercised) are thereafter referred to have elected not to exercise its said right to extend collectively as the term, and this “Lease shall expire in accordance with its termsTerm”. Time is of the essence with respect to Essence in exercising the requirement that Tenant give timely notice of its election renewal option. Failure to exercise its right to extend an option on or before the termrequired date and in strict compliance with this section, terminates that option and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary set forth above, Tenant shall not have the right to exercise any option to extend the term of this Lease (i) during the time commencing from the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paid, or (iii) as to the second and third Extension Options, if the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option be assignable apart from this Leaseunexercised options.

Options to Extend Term. Landlord hereby grants to Tenant the right to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by shall have two (2) additional successive terms of five (5) years each by giving Landlord written notice of its intention so to do in each instance at least one (1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon the same terms and conditions as set forth in this Lease, except that the Fixed Rent during the extended term shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option to extend the term, Tenant shall be deemed to have elected not to exercise its said right to extend the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right options to extend the term of this Lease. The implied covenant , each for a five (5) year period (an "Option Period"), provided (a) Tenant shall give notice to Landlord of good faith and fair dealing its exercise of an option not less than nine (9) months prior to the expiration of the Lease Term or the first Option Period, as the case may be, (b) no default beyond any applicable grace period in the obligations of Tenant under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of exist at the impending deadline for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary set forth above, time such notice is given and (c) Tenant shall not have been in default under this Lease beyond any applicable grace period on more than two (2) occasions during the right to exercise any entire preceding Lease Term. All of the terms and provisions of this Lease shall be applicable during each Option Period except that (a) Tenant shall have no option to extend the term of this Lease beyond the second Option Period and (b) the Base Rent for each Option Period shall be the greater of (i) during the time commencing from Base Rent for the date Landlord gives Tenant a written notice that Tenant is in default under any material provision last year of this the Lease and continuing until Term or the default described in said notice is curedfirst Option Period, (ii) during as the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paidcase may be, or (iii) Market Rent, as defined below, as of the first day of such Option Period. "Market Rent" shall be computed as of the applicable date at the then current rentals being charged to new tenants for comparable space located in comparable buildings, taking into account and giving effect to, in determining comparability, without limitation, such considerations as size, location and condition of premises and lease term. Landlord shall designate Market Rent for the next Option Period within thirty (30) days after Tenant's written request, therefor (such request to be made no earlier than one (1) year before such Option Period). If Landlord shall not have previously designated Market Rent, after Tenant shall exercise an option to extend for an Option Period, Landlord shall initially designate Market Rent and shall furnish data in support of such designation. If Tenant shall have exercised its option to extend for the Option Period but shall disagree with Landlord's designation of the Market Rent, then Tenant shall have the right, by notice given within fourteen (14) days after Tenant's receipt of Landlord's designation, to submit such Market Rent to arbitration as follows. Market Rent shall be determined by arbitrators, one chosen by Tenant, one chosen by Landlord and a third selected, if necessary, as below provided. All arbitrators selected under this Section shall be experienced real estate appraisers with substantial experience with properties in the vicinity of the Premises. If within fourteen (14) days after Tenant's notice the parties shall agree upon a single arbitrator or if one party shall fail to select an arbitrator, the arbitrator selected by the other shall be the sole arbitrator, and Market Rent shall be determined by such arbitrator. The unanimous written decision of the two first chosen (or the decision of the first, if a second arbitrator is not chosen) without selection and participation of a third arbitrator, or otherwise the written decision of a majority of the three arbitrators chosen and selected as provided herein, shall be conclusive and binding upon Landlord and Tenant. Landlord and Tenant shall each notify the other of its chosen arbitrator within fourteen (14) days following the call for arbitration, and, unless such two arbitrators shall have either reached a unanimous decision within thirty (30) days after their designation or jointly selected a third arbitrator, they shall so notify the then President of the local Real Estate Board and request him to select an impartial third arbitrator to act hereunder, or if such individual does not exist or is unavailable, then they shall apply to a court of competent jurisdiction to select an impartial third arbitrator. Such third arbitrator and the first two chosen shall hear the parties and their evidence and render their decision within thirty (30) days following the conclusion of such hearing and notify Landlord and Tenant thereof. Landlord and Tenant shall bear the expense of the third arbitrator (if any) equally. If the dispute between 4 the parties as to Market Rent shall not have been resolved before the commencement of Tenant's obligation to pay rent based upon Market Rent, then Tenant shall pay rent based upon the Market Rent designated by Landlord until either the agreement of the parties as to the second and third Extension Options, if Market Rent or the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction decision of the foregoing conditions precedent. The Extension Option arbitrators, as the case may not be exercised be, at which time Tenant shall pay any underpayment of rent to Landlord or assigned involuntarily by or Landlord shall refund any overpayment of rent to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option be assignable apart from this LeaseTenant.

Options to Extend Term. Landlord Subject to the terms of this Section 3.3, Lessor hereby grants to Tenant Lessee six (6) options (each, a "Renewal Option," and collectively, the right "Renewal Options") to extend the term Term of this Lease (the "Extension Option") for one (1) additional term EXHIBIT 10.27 successive periods of ten (10) years followed each beyond the Expiration Date (each, a "Renewal Term," and collectively, the "Renewal Terms"). The Renewal Options shall be personal to and may only be exercised by two Lessee, any Person to whom Lessee assigns its entire right, title and interest in and to this Lease pursuant to Section 13.1 below (2but specifically excluding any sublessee), any Lender who acquires and succeeds to the interest of Lessee under this Lease by virtue of any foreclosure sale, whether the foreclosure sale is conducted pursuant to court order or pursuant to a power of sale contained in a Leasehold Mortgage, or by assignment or other conveyance in lieu of foreclosure, and any transferee or other successor or assign of such Lender; provided, however, that each Specific Parcel Lease shall contain renewal options with terms identical to those set forth in this Section 3.3. The Renewal Options shall be effective only if no Material Default has occurred and is continuing (taking into account all applicable grace or cure periods) additional successive terms hereunder, either at the time of five exercise of the respective Renewal Option or at the time of commencement of the respective Renewal Term. Each Renewal Option commencing with the second (52nd) years each Renewal Option shall be effective only if Lessee has validly exercised all prior Renewal Option(s). The Renewal Options must be exercised, if at all, by giving Landlord written notice of its intention so (each, an "Election Notice") from Lessee to do in each instance at least one (1) year (but Lessor given not more than two yearstwenty- four (24) months nor less than twelve (12) months prior to the expiration of the then-current termExpiration Date, subject to the provisions of Section 17.3. Any such Election Notice given by Lessee to Lessor shall be irrevocable. If Lessee fails to exercise a Renewal Option in a timely manner as provided for above, the Renewal Option shall be void. The term as so extended Renewal Terms shall be upon the same terms and conditions as set forth in this Leasethe initial Term, except that the Fixed Annual Base Rent during the extended term shall be determined in adjusted effective as of the manner provided in Paragraph 3.2commencement of the first (1st) Renewal Term and every five (5) years thereafter during such Renewal Term and all subsequent Renewal Terms, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option to extend the termif any, Tenant shall be deemed to have elected not to exercise its said right to extend the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary procedure set forth above, Tenant shall not have the right to exercise any option to extend the term of this Lease (iin Section 4.1(b) during the time commencing from the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paid, or (iii) as to the second and third Extension Options, if the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option be assignable apart from this Leasebelow.

Options to Extend Term. Landlord hereby grants to Tenant the right to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by shall have two (2) additional successive terms options (each an “Extension Option“) to extend the Term of this Lease for a period of five (5) years each by giving Landlord written notice of its intention so to do in (each instance at least one (1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon an “Extension Period“), on the same terms and conditions as set forth in effect under this LeaseLease immediately prior to the commencement of the Extension Period, except that the Fixed Rent during the extended term (a) Tenant shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option have no further right to extend the termTerm of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by three and one-half percent (3.5%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be deemed irrevocably bound to have elected not to exercise its said right to extend lease the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline Premises for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slightExtension Period. Notwithstanding anything to the contrary set forth aboveforegoing, Tenant shall not have the right to exercise any option to extend the term of this Lease an Extension Option (ia) during the time commencing from the date Landlord gives delivers to Tenant a written notice that Tenant is in default under any material provision provisions of this Lease and continuing until Tenant has cured the default described in said specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice is cured, (iiof such Default) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation Tenant cures any such Default, if such Default is paid, susceptible to being cured; or (iiic) as in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the second date that Tenant intends to exercise an Extension Option, and third Extension Options, if the prior options such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be assignable apart from null and void and of no further force and effect. If this LeaseLease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Landlord hereby grants to Tenant the right to extend the term of this Lease shall have two (the 2) options (each an "Extension Option") to extend the Term of this Lease for one (1) additional term of ten (10) years followed by two (2) additional successive terms a period of five (5) years each by giving Landlord written notice of its intention so to do in (each instance at least one (1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon an "Extension Period"), on the same terms and conditions as set forth in effect under this LeaseLease immediately prior to the commencement of the Extension Period, except that the Fixed Rent during the extended term (a) Tenant shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option have no further right to extend the termTerm of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by the greater of 75% of the U.S. Consumer Price Index ("CPI") or three and one-quarter percent (3.25%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the "Extension Notice") not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be deemed irrevocably bound to have elected not to exercise its said right to extend lease the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline Premises for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slightExtension Period. Notwithstanding anything to the contrary set forth aboveforegoing, Tenant shall not have the right to exercise any option to extend the term of this Lease an Extension Option (ia) during the time commencing from the date Landlord gives delivers to Tenant a written notice that Tenant is in default under any material provision provisions of this Lease and continuing until Tenant has cured the default described in said specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice is cured, (iiof such Default) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation Tenant cures any such Default, if such Default is paid, susceptible to being cured; or (iiic) as in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the second date that Tenant intends to exercise an Extension Option, and third Extension Options, if the prior options such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be assignable apart from null and void and of no further force and effect. If this LeaseLease or Tenant's right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Landlord Subject to the terms of this Section 3.3, Lessor hereby grants to Tenant Lessee six (6) options (each, a "Renewal Option," and collectively, the right "Renewal Options") to extend the term Term of this Lease (the "Extension Option") for one (1) additional term EXHIBIT 10.27 *CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. successive periods of ten (10) years followed each beyond the Expiration Date (each, a "Renewal Term," and collectively, the "Renewal Terms"). The Renewal Options shall be personal to and may only be exercised by two Lessee, any Person to whom Lessee assigns its entire right, title and interest in and to this Lease pursuant to Section 13.1 below (2but specifically excluding any sublessee), any Lender who acquires and succeeds to the interest of Lessee under this Lease by virtue of any foreclosure sale, whether the foreclosure sale is conducted pursuant to court order or pursuant to a power of sale contained in a Leasehold Mortgage, or by assignment or other conveyance in lieu of foreclosure, and any transferee or other successor or assign of such Lender; provided, however, that each Specific Parcel Lease shall contain renewal options with terms identical to those set forth in this Section 3.3. The Renewal Options shall be effective only if no Material Default has occurred and is continuing (taking into account all applicable grace or cure periods) additional successive terms hereunder, either at the time of five exercise of the respective Renewal Option or at the time of commencement of the respective Renewal Term. Each Renewal Option commencing with the second (52nd) years each Renewal Option shall be effective only if Lessee has validly exercised all prior Renewal Option(s). The Renewal Options must be exercised, if at all, by giving Landlord written notice of its intention so (each, an "Election Notice") from Lessee to do in each instance at least one (1) year (but Lessor given not more than two yearstwenty- four (24) months nor less than twelve (12) months prior to the expiration of the then-current termExpiration Date, subject to the provisions of Section 17.3. Any such Election Notice given by Lessee to Lessor shall be irrevocable. If Lessee fails to exercise a Renewal Option in a timely manner as provided for above, the Renewal Option shall be void. The term as so extended Renewal Terms shall be upon the same terms and conditions as set forth in this Leasethe initial Term, except that the Fixed Annual Base Rent during the extended term shall be determined in adjusted effective as of the manner provided in Paragraph 3.2commencement of the first (1st) Renewal Term and every five (5) years thereafter during such Renewal Term and all subsequent Renewal Terms, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option to extend the termif any, Tenant shall be deemed to have elected not to exercise its said right to extend the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary procedure set forth above, Tenant shall not have the right to exercise any option to extend the term of this Lease (iin Section 4.1(b) during the time commencing from the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paid, or (iii) as to the second and third Extension Options, if the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option be assignable apart from this Leasebelow.

Options to Extend Term. Landlord hereby grants Subject to the remaining provisions of ---------------------- this Paragraph 2.3 and Paragraph 3.7 below, Tenant the right to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by shall have two (2) additional successive terms options (each such option herein called an "Option") to extend the Term for a period of five (5) years (each such five year period herein called an "Extended Term"). Each Option shall be exercised by giving Tenant, if at all, by delivery to Landlord written of notice of its intention so such election to do in each instance at least one extend no later than three hundred sixty five (1365) year (but not more than two years) days prior to the then scheduled expiration date of the then-current term. The term as so extended shall be upon the same terms and conditions as set forth in this Lease, except that the Fixed Rent during the extended term shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option to extend the term, Tenant shall be deemed to have elected not to exercise its said right to extend the term, and this Lease shall expire in accordance with its termsTerm. Time is of the essence with respect to the requirement that date of exercise of each Option. Any exercise by Tenant give timely notice of its election to exercise its right to extend the terman Option, and Tenant's failure timely to exercise any option once made, shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such rightbe irrevocable, and Tenant hereby expressly waives any shall have no right to claim relief from forfeiturerescind or revoke such Option exercise. At Landlord's sole and absolute election, to be exercised if at all by delivery of notice to Tenant that the Option exercise is invalid by the date which is no more than ninety (90) days after Tenant delivers notice to Landlord that Tenant is exercising the Option, a purported exercise by Tenant of an Option shall have no force or effect if: (a) an Event of Default exists at the time of the purported Option exercise, (b) Tenant is attempting to exercise the second Option, but the first Option has not been exercised, or any other equitable relief, from (c) two or more Events of Default have occurred within the consequences three (3) year period of any untimely time immediately preceding Tenant's purported exercise of its right to extend the term Option. Each Extended Term shall be upon all of the terms and conditions of this Lease. The implied covenant of good faith , except that the monthly Base Rent for such Extended Term shall be determined in accordance with Paragraph 3.7, and fair dealing under except that in no event shall there be more than the two Extended Terms provided in this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of Paragraph 2.3 (i.e., the impending deadline for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary set forth above, Tenant shall not have the right to exercise any option to extend the term of this Lease (i) during the time commencing from the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paid, or (iii) as to the second and third Extension Options, if the prior options were not timely exercised. The period of time within which any option may be exercised Term shall not be extended or enlarged by reason to exceed an aggregate of Tenant's inability twenty (20) years from the Rent Commencement Date). Upon commencement of any Extended Term, all references herein to exercise the "Term" of this Lease shall be deemed to include such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option be assignable apart from this LeaseExtended Term.

Options to Extend Term. Landlord hereby grants to Provided Tenant the right to extend the term is not in default of any terms and conditions of this Lease at the time of notifying Landlord of its intent to exercise an option and at all times thereafter until such option term commences, Tenant may exercise the option(s) set forth in Section 1(H). Each renewal option shall be at the same terms and conditions of this Lease, except that GMMR shall be adjusted (i) pursuant to Section 4(A)(IV), or (ii) to the "Extension Option"then current fair market rental rate, whichever is higher. If the parties cannot agree upon the fair market rental rate within fifteen (15) for one (1) additional term days after Tenant’s notice to Landlord of its intent to exercise an option, then the fair market rental rate shall be determined by an independent appraiser appointed by Landlord and reasonably acceptable to Tenant, whose decision in this matter shall be final, conclusive and binding. If Landlord and Tenant are unable to agree on a single appraiser within ten (10) years followed days after demand by either party, then each party shall select its own appraiser within ten (10) days thereafter and the two such appraisers shall mutually select a third appraiser within ten (210) additional successive terms days after the second of such appraisers is chosen. The average of the two appraisals closest in amount shall be final, conclusive and binding. Each party shall bear the cost of its own appraiser, and the parties shall share equally the cost of a single or a third appraiser, as applicable. Each appraiser shall have at least five (5) years each years’ experience in the appraisal of commercial real property and shall be a member of professional organization such as MAI or an equivalent. Written notice to Landlord of Tenant’s desire to exercise an option to renew must be received by giving Landlord written notice of its intention so to do in each instance at least no earlier than one hundred eighty (1180) year days and no later than ninety (but not more than two years90) days prior to the expiration of the then-then current term. The term as so extended shall be upon the same terms and conditions as set forth in this Lease, except that the Fixed Rent during the extended term shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option to extend the term, Tenant shall be deemed to have elected not to exercise its said right to extend the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant If Landlord does not receive Tenant’s written unconditional notice of good faith its intent to exercise an option within such ninety (90) day period, all options hereunder shall immediately terminate, and fair dealing under this Lease there shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary set forth above, Tenant shall not have the no further right to exercise any extend the Lease Term. Each option to extend the term of this Lease (i) during the time commencing from the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paid, or (iii) as shall be personal to the second tenant first named herein, and third Extension Options, if the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended apply to or enlarged by reason for the benefit of Tenant's inability to exercise any assignee or subtenant of such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option be assignable apart from this Leaseinitial tenant.

Options to Extend Term. Landlord hereby grants to Tenant the right to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by shall have two (2) additional successive terms options (each an “Extension Option“) to extend the Term of this Lease for a period of five (5) years each by giving Landlord written notice of its intention so to do in (each instance at least one (1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon an “Extension Period“), on the same terms and conditions as set forth in effect under this LeaseLease immediately prior to the commencement of the Extension Period, except that the Fixed Rent during the extended term (a) Tenant shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option have no further right to extend the termTerm of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by two and one-half percent (2.5%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be deemed irrevocably bound to have elected not to exercise its said right to extend lease the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline Premises for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slightExtension Period. Notwithstanding anything to the contrary set forth aboveforegoing, Tenant shall not have the right to exercise any option to extend the term of this Lease an Extension Option (ia) during the time commencing from the date Landlord gives delivers to Tenant a written notice that Tenant is in default under any material provision provisions of this Lease and continuing until Tenant has cured the default described in said specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice is cured, (iiof such Default) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation Tenant cures any such Default, if such Default is paid, susceptible to being cured; or (iiic) as in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the second date that Tenant intends to exercise an Extension Option, and third Extension Options, if the prior options such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be assignable apart from null and void and of no further force and effect. If this LeaseLease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Landlord hereby grants to Tenant two (2) options (Individually referred to hereinafter as an "Option" and collectively referred to hereinafter as the right "Options") to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by two (2) additional successive consecutive terms of five (5) years and zero (0) months (each by giving Landlord written notice of its intention so to do in each instance at least one (1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon is called an "Extension"), on the same terms and conditions as set forth in this Lease, except that the Fixed Basic Annual Rent during the extended term shall be the amount determined in the manner provided in Paragraph 3.2, as set forth below. Should Tenant in any instance fail to give timely written notice of its intention shall have the opportunity to exercise its option the initial Option with respect to extend only four (4) contiguous floors of the term, Tenant Premises. The second Option shall be deemed to have elected not to exercise its said right to extend the term, and this Lease shall expire in accordance with its terms. Time is of the essence exercised only with respect to the requirement that Premises so leased during the first Extension. Each Option shall be exercised only by written notice delivered to Landlord at least two hundred seventy (270) days before the expiration of the initial term of this Lease or the immediately preceding Extension ("Exercise Date"), as the case may be. If Tenant give timely fails to deliver to Landlord written notice of its election to the exercise its right to extend of the termOption within the time period prescribed above, such Option and any succeeding Options shall lapse, and Tenant's failure timely to exercise any option there shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its be no further right to extend the term of this Lease. The implied covenant Each Option shall be exercisable by Tenant on the express conditions that (i) at the time of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline for the exercise of any optionsuch Option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything and thereafter at all times prior to the contrary set forth abovecommencement of such Extension, Tenant a Tenant's Default shall not have occurred and be continuing under this Lease, and (ii) Tenant has not been ten (10) or more days late in the right to exercise any option to extend payment of Rent more than a total of nine (9) times during the term of this Lease Lease. If Tenant property exercises an Option, "term", as used herein and in this Lease, shall be deemed to include the applicable Extension, unless specified otherwise herein. The Basic Annual Rent during each Extension shall be increased, as of the commencement of each Extension (ieach is called a "Rental Adjustment Date") during to ninety-five percent (95%) of the time commencing from "Fair Market Value" of the date Landlord gives Premises, determined in the following manner: Not later than ninety (90) days prior to any applicable Exercise Date, Tenant a shall give written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from of its preliminary interest in the applicable Option, and thereafter Landlord and Tenant shall meet in an effort to negotiate, in good faith, the Fair Market Value of the Premises as of the applicable Rental Adjustment Date. If Landlord and unpaid and continuing until Tenant have not agreed upon the obligation is paid, or Fair Market Value of the Premises at least eighty (iii80) as days prior to the second and third Extension Optionsapplicable Exercise Date, if the prior options were not timely exercised. The period of time within which any option may Fair Market Value shall be exercised shall not be extended or enlarged determined by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option be assignable apart from this Lease.following appraisal method:

Options to Extend Term. Landlord hereby grants to Tenant the right to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by shall have two (2) additional successive terms options (each an “Extension Option“) to extend the Term of this Lease for a period of five (5) years each by giving Landlord written notice of its intention so to do in (each instance at least one (1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon an “Extension Period“), on the same terms and conditions as set forth in effect under this LeaseLease immediately prior to the commencement of the Extension Period, except that the Fixed Rent during the extended term (a) Tenant shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option have no further right to extend the termTerm of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by three percent (3.0%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be deemed irrevocably bound to have elected not to exercise its said right to extend lease the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline Premises for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slightExtension Period. Notwithstanding anything to the contrary set forth aboveforegoing, Tenant shall not have the right to exercise any option to extend the term of this Lease an Extension Option (ia) during the time commencing from the date Landlord gives delivers to Tenant a written notice that Tenant is in default under any material provision provisions of this Lease and continuing until Tenant has cured the default described in said specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice is cured, (iiof such Default) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation Tenant cures any such Default, if such Default is paid, susceptible to being cured; or (iiic) as in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the second date that Tenant intends to exercise an Extension Option, and third Extension Options, if the prior options such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be assignable apart from null and void and of no further force and effect. If this LeaseLease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Landlord hereby grants to Tenant the right to extend the term of this Lease shall have two (the 2) options (each an "Extension Option") to extend the Term of this Lease for one (1) additional term of ten (10) years followed by two (2) additional successive terms a period of five (5) years each by giving Landlord written notice of its intention so to do in (each instance at least one (1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon an "Extension Period"), on the same terms and conditions as set forth in effect under this LeaseLease immediately prior to the commencement of the Extension Period, except that the Fixed Rent during the extended term (a) Tenant shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option have no further right to extend the termTerm of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by three and one-quarter percent (3.25%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the "Extension Notice") not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be deemed irrevocably bound to have elected not to exercise its said right to extend lease the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline Premises for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slightExtension Period. Notwithstanding anything to the contrary set forth aboveforegoing, Tenant shall not have the right to exercise any option to extend the term of this Lease an Extension Option (ia) during the time commencing from the date Landlord gives delivers to Tenant a written notice that Tenant is in default under any material provision provisions of this Lease and continuing until Tenant has cured the default described in said specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice is cured, (iiof such Default) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation Tenant cures any such Default, if such Default is paid, susceptible to being cured; or (iiic) as in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the second date that Tenant intends to exercise an Extension Option, and third Extension Options, if the prior options such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be assignable apart from null and void and of no further force and effect. If this LeaseLease or Tenant's right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Landlord hereby grants to Tenant is given the right option to extend the term Initial Terms, respectively, as set forth herein, on all of this Lease the provisions contained herein by giving notice of exercise (the "Extension OptionOption Notice") for one (1) additional term of ten (10) years followed by two (2) additional successive terms of five (5) years each by giving to Landlord written notice of its intention so to do in each instance at least one (1) year (but not more than two years) prior to 360 days and not less than 270 days before the expiration Expiration of the thenrespective Initial Terms or Extended Terms of the Lease. Tenant shall have two 5-current termyear extension options for the Bank Branch and three 5-year options for the rest of the Building (respectively "Option Terms"). The term as so extended shall be upon As for the same terms and conditions as set forth in this Leaserest of the Building, except that the Fixed Rent during the extended term shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to may exercise its option to extend the termterm for some or all of the Rentable Area in increments as set forth below, at Tenant's sole discretion, provided that if Tenant has previously returned any of such Rentable Area to Landlord, Tenant shall be deemed to have elected not surrendered its right to relet such space pursuant to the options contained herein. In determining the portions of the second and third floors of the Building as to which Tenant may exercise its said right option, such portion (a) may not be less than 2,500 square feet of Rentable Area or such other amount as may be agreed to extend by both Landlord and Tenant in writing; (b) must not leave less than 2,500 square feet of Rentable Area on any floor of the termBuilding, or such other amount as may be agreed to by both Landlord and Tenant in writing; (c) must be contiguous to any other portion leased on the same floor; (d) must leave a remainder on any floor which is, and must itself be, in compliance with all applicable building and fire codes, governmental laws, regulations or restrictions; and (e) may not be split between the second and third floors unless all of one of those floors is leased by Tenant. Provided, however, that, with respect to the first floor of the Building, Tenant may only exercise its option for either the Bank Branch or the entire first floor. If Tenant is in default on the date of giving the Option Notice beyond any time to cure such default allowed by statute or created under this Lease, whichever is greater ("Cure Period"), the Option Notice shall be totally ineffective, or if Tenant is in default beyond any Cure Period on the date the Extended Term is to commence and does not cure the default within the Cure Period, the Extended Term shall not commence and this Lease shall expire in accordance with its terms. Time is at the end of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, Initial Term or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary set forth above, Tenant shall not have the right to exercise any option to extend the term of this Lease (i) during the time commencing from the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paid, or (iii) as to the second and third Extension Options, Extended Term if the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as provided in Article 17, nor shall the Extension Option be assignable apart from this LeaseTerm has been previously extended.

Options to Extend Term. Landlord hereby grants to Tenant the right to may extend the original term of this Lease for four (the "Extension Option"4) for one (1) separate, consecutive additional term of ten (10) years followed by two (2) additional successive terms periods of five (5) years each by giving Landlord written notice ("Option Periods"), on the terms and conditions set forth herein, except that the Base Rent due for each Option Period so exercised shall be determined in accordance with Section 3.06 and the number of its intention so Option Periods remaining to do be exercised shall, in each instance at least one case, be reduced by one. Tenant may exercise such options by notifying Landlord in writing not less than three hundred sixty (1360) year (but not more than two years) days prior to the expiration of the then-initial Lease Term, or the then current term. The term Option Period, as so extended shall be upon the same terms and conditions as set forth in this Lease, except that the Fixed Rent during the extended term shall be determined in the manner provided in Paragraph 3.2, belowcase may be. Should Tenant neglect to timely exercise any option, Xxxxxx's right to exercise shall not expire until after notice from Landlord of Tenant's failure to timely exercise the option. If Landlord does so notify Tenant, Tenant shall have the right at any time within fifteen (15) days after such notice to notify Landlord in any instance fail to give timely written notice writing of either Xxxxxx's unqualified and irrevocable exercise of its intention option to extend, or Tenant's unqualified and irrevocable waiver of its option to extend. If Tenant fails to respond within such fifteen (15) day period, Tenant shall conclusively be deemed to have waived its right and option to extend the Term, and this Lease shall terminate on the then expiration date of the Term. If Tenant notifies Landlord that it exercises its option to extend, such notice shall constitute Tenant's unqualified and irrevocable exercise of its option to extend the term, Tenant shall be deemed to have elected not to exercise its said right to extend the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline Term for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary set forth above, Tenant shall not have the right to exercise any option to extend the term of this Lease (i) during the time commencing from the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paid, or (iii) as to the second and third Extension Options, if the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension applicable Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except as Period provided in Article 17, nor shall the Extension Option be assignable apart from this Leaseherein.

Options to Extend Term. (a) Landlord hereby grants to Tenant the right two options (each an “Extension Option”) to extend the term Term of this Lease for an additional term (the "Extension Option"“Option Term”) for one (1) additional term of ten (10) years followed by two (2) additional successive terms of five (5) years each by giving Landlord written notice of its intention so to do in each instance at least one (1) year (but not more than two years) prior upon and subject to the expiration of the then-current term. The term as so extended shall be upon the same terms and conditions as set forth in this Lease, except that the Fixed Rent during the extended term Section. The Extension Options shall be determined exercised, if at all, consecutively by written notice given to Landlord not less than nine (9) months prior to the Expiration Date of the Term, in the manner provided case of the second Extension Option not less than nine (9) months prior to the Expiration Date of the Term as extended by the first Extension Option. Tenant may exercise the first Extension Option for either all or one-half of the Building, as designated in Paragraph 3.2, belowTenant’s notice exercising such Extension Option. Should In the event that Tenant in any instance fail to give timely written notice has exercised the first Extension Option for all of its intention to exercise its option to extend the termBuilding, Tenant shall be deemed to have elected not to may exercise its said right to extend the termsecond Extension Option for either all or one-half of the Building, as designated in Tenant’s notice exercising such Extension Option. In the event that Tenant has exercised the first Extension Option for only one-half of the Building Tenant may only exercise the second Extension Option for such one-half of the Building. If Tenant exercises an Extension Option, each of the terms, covenants and conditions of this Lease shall expire in accordance with its terms. Time is apply during the applicable Option Term as though the expiration date of the essence with respect to Option Term was the requirement that Tenant give timely notice of its election to exercise its right to extend date originally set forth herein as the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance Expiration Date of the impending deadline for the exercise of any optionTerm, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary set forth above, Tenant shall not have the right to exercise any option to extend the term of this Lease provided that (i) the Rent and Additional Charges to be paid during the time commencing from applicable Option Term shall be ninety five percent (95%) of the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until Prevailing Market Rental, as hereinafter defined, for the default described in said notice is curedPremises for the applicable Option Term, (ii) during the period of time commencing on Expiration Date for the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until Lease shall become the obligation is paid, or expiration date for the applicable Option Term; (iii) as to the second there shall be no additional option terms and third Extension Options, (iv) if the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability to exercise such option prior to satisfaction less than all of the foregoing conditions precedent. The Building has been leased for any Extension Option may not Option, the rentable area covered by this Lease shall be exercised or assigned involuntarily by or to any person or entity other than Tenant except as recalculated in accordance with Section 2.1, provided in Article 17however, nor shall that the Extension Option be assignable apart from this Lease.BOMA

Options to Extend Term. Landlord hereby grants to Tenant the right to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by shall have two (2) additional successive terms of five consecutive options (5each, an “Option”) to extend the Term by three (3) years each by giving Landlord written notice of its intention so to do in each instance at least one (1) year (but not more than two years) prior as to the expiration entire Premises (and no less than the entire Premises) upon the following terms and conditions. Any extension of the then-current term. The term as so extended Term pursuant to an Option shall be upon on all the same terms and conditions as set forth in this Lease, except that the Fixed Base Rent during the extended term shall be at the then-current fair market value for the Premises to be determined in as follows. If Tenant shall have timely exercised an Option, the manner provided in Paragraph 3.2parties shall endeavor to agree upon the fair market rental value of the Premises, belowas of the first day of each extension term. Should Tenant in any instance fail In determining fair market rental value, the parties shall take into account all relevant factors, including, without limitation, that the Base Rent is subject to give timely written notice of its intention to exercise its option to extend an automatic annual increase, and the term, Tenant Premises shall be deemed to have elected Building standard improvements, notwithstanding that Tenant may have installed above standard improvements. In the event that the parties are unable to agree upon such fair market value for either extension term within thirty (30) days after the giving of the notice of exercise of such Option, as the case may be, then Tenant shall have the right at any time prior to the appointment of a Baseball Arbitrator (as defined below) to void the exercise of the applicable Option, upon notice to Landlord, or if Tenant does not so void such notice then either party may request that the same be determined as follows: A senior officer of a nationally recognized leasing brokerage firm with local knowledge of San Diego County laboratory / research and development leasing market (the “Baseball Arbitrator”) shall be selected and paid for jointly by Landlord and Tenant. If Landlord and Tenant are unable to exercise agree upon the Baseball Arbitrator, then the same shall be designated by the San Diego Chapter of the American Arbitration Association or any successor organization thereto (the “AAA”). The Baseball Arbitrator, but not necessarily his or her employer, selected by the parties or designated by the President of the AAA shall (i) have at least ten (10) years experience in the leasing of office and laboratory / research and development space in San Diego County and (ii) not have done work for, or been employed or retained by, either Landlord or Tenant or any affiliate of either for a period of at least ten (10) years prior to his/her appointment pursuant hereto. Landlord and Tenant shall each submit to the Baseball Arbitrator and to the other its said determination of the fair market rental value. The Baseball Arbitrator shall afford to Landlord and Tenant a hearing and the right to extend submit evidence. The Baseball Arbitrator shall determine which of the two (2) rent determinations more closely represents the fair market rental value of the Premises. The arbitrator may not select any other fair market rental value for the Premises other than one submitted by Landlord or Tenant. The determination of the party so selected or designated shall be binding upon Landlord and Tenant and shall serve as the basis for the determination of the Base Rent payable for the applicable extension term. If, as of the commencement date of the applicable extension term, and this Lease shall expire the amount of the Base Rent payable during the applicable Renewal Term in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease Article 42 shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline for the exercise of any optionhave been determined, nor shall it obligate Landlord to excuse the tardy exercise of any optionthen, however slight. Notwithstanding anything to the contrary set forth abovepending such determination, Tenant shall not have the right to exercise any option to extend the term of this Lease (i) during the time commencing from the date Landlord gives Tenant a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paid, or (iii) as pay Base Rent equal to the second and third Extension Options, if Base Rent payable in the prior options were not timely exercised. The period of time within which any option may be exercised shall not be extended or enlarged by reason of Tenant's inability immediately preceding year subject to exercise such option prior to satisfaction of the foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant except escalation as provided in Article 178 or Section 42.1, nor as applicable. After the final determination of the Base Rent payable for such extension term, the parties promptly and appropriately shall adjust rental payments theretofore made during the Extension Option be assignable apart from this Leaseapplicable extension term and shall execute a written agreement specifying the amount of the Base Rent as so determined. Any failure of the parties to execute such written agreement shall not affect the validity of the Base Rent as so determined.

Options to Extend Term. Landlord TENANT shall have and is hereby grants to Tenant the right to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by two (2) additional successive terms of five (5) years each by giving Landlord written notice of its intention so to do in each instance at least one (1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon the same terms given and conditions as set forth in this Lease, except that the Fixed Rent during the extended term shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option to extend the term, Tenant shall be deemed to have elected not to exercise its said right to extend the term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the impending deadline for the exercise of any option, nor shall it obligate Landlord to excuse the tardy exercise of any option, however slight. Notwithstanding anything to the contrary set forth above, Tenant shall not have the right to exercise any granted an option to extend the term of this Lease (i) during the time commencing from the date Landlord gives Tenant for a written notice that Tenant is in default under any material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time five (5) years commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid and continuing until the obligation is paidNovember 1, or (iii) as to the second and third Extension Options2004, if the prior options were not timely exercised. The period of time within which any option may be exercised by TENANT, if TENANT is not in default hereunder, by the giving of written notice of such election to LANDLORD not less than twelve (12) months prior to the expiration of this Lease. In case said option is exercised, the same terms, conditions, covenants and provisions of this Lease applicable to the original five (5) year term shall apply to the extended term, including, without limitation, the rental adjustment provisions of Section I-B of this Lease. In addition, the insurance amounts referenced in Section V-B shall be increased by such amount as LANDLORD and TENANT agree is required to properly protect LANDLORD from liability arising out of TENANT'S use of the Leased Premises. If LANDLORD and TENANT shall be unable to agree upon the amount of increase in required liability insurance coverage, then the matter shall be resolved through mediation proceedings to be held in Evansville, Indiana, with each party paying one-half (1/2) of the cost thereof. If TENANT shall have exercised the option granted by the preceding grammatical paragraph, then TENANT shall have, and is hereby given and granted, an additional option to extend the term of this Lease for a period of five (5) years commencing November 1, 2009, which option may be exercised by TENANT, if TENANT is not be in default hereunder, by giving written notice of such election to LANDLORD not less than twelve (12) months prior to the expiration of the first (1st) five (5) year extended or enlarged by reason term of Tenant's inability to exercise this Lease. In case such option prior is exercised, the same terms, conditions, covenants and provisions of this Lease applicable during the first (1st) five (5) year extended term shall apply to satisfaction the second (2nd) five (5) year extended term, including, without limitation, the rental payable pursuant to the Exhibit (10.3)-p 8 provisions of Section I-C of this Lease. In addition, the insurance amounts referenced in Section V-B shall be increased by such amount as LANDLORD and TENANT agree is required to properly protect LANDLORD from liability arising out of TENANT'S use of the foregoing conditions precedentLeased Premises. The Extension Option may not If LANDLORD and TENANT shall be exercised or assigned involuntarily by or unable to any person or entity other than Tenant except as provided agree upon the amount of increase in Article 17required liability insurance coverage, nor then the matter shall be resolved through mediation proceedings to be held in Evansville, Indiana, with each party paying one-half (1/2) of the Extension Option be assignable apart from this Leasecost thereof.