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1 : GROUND LEASE <br />~••- Date: 1998 <br />Lessor: Salem Area Mass Transit District ("Lessor") <br />3140 Del Webb Avenue NE <br />Salem, Oregon, 97303-4165 <br />and <br />.~ <br />, _ <br />, Marion County ~ <br />Marion County Courthouse, Fifth Floor <br />100 High Street NE <br />~ j ~ Salem, Oregon, 97301 <br />t <br />,,. . <br />Lessee: ~ ("I-essee") <br />11~ . <br />('~ For the term and on the conditions set forth herein, Lessor lea.ses to Lessee, and Lessee leases <br />(~ from Lessor, the real property described in Eahibit A, together with the easements described in <br />Fahibit A. The Leased Premises described in Fxhibit A, together with the easements described in <br />Eahibit A, shall be referned to herein as the "Premises." The Premises are schematically diagramed in <br />~ Exhibit B. <br />The Premises are leased for a term (the "Term") of 75 years, commencing on the date of this Lease <br />and ending on June 30 in the 75th year following the date of this Lease.. <br />~. ~ <br />Lessor and Lessee agree as follows: <br />Section 1.Project Conditions <br />~;, l.l Lessee agrees to construct a building (the "Building") and related improvements on, <br />under, and over the Premises. The Building and all the related unprovements aze referred to in this <br />~. ~ Lease as the "Project." The Project and any future alterations, additions, replacements, or modifications <br />~ to the Project during the Term of this Lease are referred to in this Lease as the "Improvements." The <br />~.: preliminary plans and specifications for the Project are attached as Exhibit A and incorporated in this <br />I.ease by ttus reference. This Lease shall be conditioned on Lessee obtaining all necessary govemmental <br />regulatory approvals, consultants reports, financing commitments, final plans and specifications, design <br />1 ~ and construction contracts, and any other approvals, loan and lease commitments, or contracts <br />•-~ reasonably deternuned to be necessary by the Lessor and the Lessee. Lessee agrees to use its good faith <br />best efforts to obtain, the foregomg approvals, reports, commitments and contracts. This Lease is <br />~ conditioned upon Lessor's prior wntten approval of Lessee's fmal design, plans and specifications for <br />~ ; the Project. <br />1.2 The foregoing conditions shall be for the benefit of both parties and must be satisfied <br />( 1 or waived by both the parties on or before 5:00 p.m. on ~ , 1999, or this I,ease shall <br />4.1 thereafter terminate upon the eapiration of 30 days prior written notice of nonsatisfaction from either <br />p a r t y given to t he o t her, an d s h a ll t he r e a f t er be of no further force and effect. In such event neither <br />~ party shall have any further liability under this Lease except for liability accrued before the date of <br />temmnation. <br />~ 1.3 Lessor shall execute such applications and other instruments reasonably necessary to <br />obtain required governmental regulatory approvals, provided that Lessor shall not be required to pay <br />_; any application fees or incur any other costs or liability in connection with such approvals beyond <br />Lessor's fees for any professional advice Lessor desires. Lessor shall appear as a witness in any legal or <br />~~ <br />~'~ North Pad Ground Lease Courthouse Square <br />- ~ Page - 1 <br />~'~ <br />