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legal right and authority to lease Lands. Lessee acknowledges that it has inspected the Lands <br />and accepts it in its current condition** and Lessee deems it appropriate for all purposes, <br />including Lessee's intended use, Lessee leases the Lands subject to all existing agreements, <br />encroachments, claims, easements, occupancies, grants, reservations, deed obligations and <br />similar covenants, rights, title defects and other impediments, all as described in Exhibit B, <br />2. RIGHT TO POSSESSION. On the Commencement Date, Lessor will deliver to <br />Lessee possession of the Lands. <br />3. TERM. (a) Unless otherwise terminated as provided herein, this Lease shall be <br />for a term of one (1) year from the Commencement Date ("Term"), except that Lessee may <br />elect to extend the Term by written notice to Lessor for as many as five (5) successive periods <br />of one (1) year each conditioned upon Lessee's obligations hereunder being in good standing; <br />and, (b) if either Lessee or Lessor breaches any material covenant or obligation under this <br />Lease and if such breach continues without cure for a period of sixty (60) calendar days from <br />the date of receipt of written notice of such breach, the non -breaching party may terminate this <br />Lease without further notice, provided that if the breach would reasonably take more than sixty <br />(60) days to cure and the party in breach has commenced such cure within such sixty (60) day <br />period and diligently pursues such cure, the party in breach shall have an additional sixty (60) <br />days to complete such cure. <br />4. LEASE PAYMENTS. On or before the Commencement Date, Lessee shall <br />deliver to Lessor the sum of ONE DOLLAR ($1.00). <br />5. INSPECTION OF LANDS. Lessor (its contractors, agents, or affiliates) shall <br />have the right to inspect the Lands as needed for validation of use, monitor conditions, <br />environmental assessment, and at such other times as it reasonably deems necessary. Lessor <br />shall have the right to enter onto the Lands to conduct such inspections; however, Lessor will <br />comply with any instructions of Lessee reasonably designed to insure the safety of the <br />personnel and property of Lessee and Lessor. <br />6. COMPLIANCE WITH LAWS. Lessee shall comply with all applicable Federal, <br />State and local laws, ordinances and regulations in its use of the Lands, and Lessee hereby <br />agrees to indemnify and hold Lessor harmless from and against any and all liability, claims, <br />costs (including attorney's fees), damages and expenses arising in any manner out of its failure <br />to comply with such laws, ordinances or regulations. <br />7. ADDITIONAL ASSETS, MAINTENANCE AND IMPROVEMENTS. (a) Lessee, <br />shall be solely responsible for and shall at its sole risk, cost and expense, repair and thereafter <br />maintain the Lands in form suitable for recreational purposes; and, (b) Lessee, may make <br />improvements upon or connected to the Lands with the written consent of Lessor, provided that <br />all such improvements shall be the property of Lessee at the termination of this lease; and (c) <br />improvements made to the extent that such improvements are not readily detachable without <br />damage or injury to the Lands shall remain in place and become the property of the Lessor at <br />the termination of this lease. <br />8. AUTHORITY TO LEASE, As of the Commencement Date, Lessee and Lessor <br />will have the necessary corporate authority and approval to enter into this Lease. <br />9. ENVIRONMENTAL. (a) Lessee shall not create or permit to be created upon the <br />Lands any nuisance, use, storage or disposal or other release of Hazardous Materials, public or <br />