09-22-08 Special Called Regular Meeting of the La Porte Development Corporation Board of Directors

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25.2.2 Not be in default under this Lease at the time of giving such notice; 25.2.3 Not have assigned this Lease at any time; and 25.2.4 Not have paid more than four (4) installments of Base Rent and/or Additional Rent later than their respective due dates. Section 25.3 In order to exercise the each additional Renewal Option to extend the Term of this Lease for such Renewal Term (if and as applicable), Tenant must comply with Section 25.2.1 through Section 25.2.4 above as of the date of such exercise and additionally must have properly and timely exercised the previous Renewal Option(s) in accordance with this Lease (as applicable). Section 25.4 In the event Tenant exercises any Renewal Option, the monthly Base Rent for the Premises during the relevant Renewal Term shall be the relevant Renewal Rental Rate. Section 25.5 Each Renewal Term shall commence on the first day following the expiration of the Term (as previously extended) and shall term inate on the last day of the relevant number of calendar month thereafter. Except as changed in the manner referred to in 25.4 above, this Lease shall be so renewed and extended on and subject to all of the same terms, provisions and conditions as are set forth in this Lease. For each Renewal Option that is exercised and not retracted, the Term shall be amended to include the that Renewal Term Section 25.6 Time is of the essence with respect to exercise of each of Tenant's Renewal Options, and if any of such options is not exercised within the time and in the manner herein stated, then such options shall expire and be of no further force or effect. If notice of exercise of any or all of Tenant's Renewal Options is given in accordance with the provisions hereof and not retracted under 25.4.2, such notice shall be effective to renew and extend this Lease for the applicable Renewal Term, without the necessity of execution of any additional agreements or instruments by either Landlord or Tenant; provided, however, that either Landlord or Tenant shall, at the request of the other, execute a document which confirms the exercise of the relevant Renewal Option, the commencement and ending dates thereof, the rental rates in effect, and such other factual information as either party reasonably requests. ART~LE26. TENANTCONSTRUCT~N Section 26.1 Tenant may construct improvements at the Premises only upon satisfying the following .conditlons precedent": (i) that Landlord and Tenant shall have mutually agreed in writing upon plans and specifications and one or more general contractors (herein sometimes referred to as "contractor") to be utilized by Tenant; (ii) that Tenant has tendered to Landlord: a true copy of a "Building Permit. (meaning all required governmental, regulatory authority and other permits, consents and letters of utility availability) for the work of Tenant and its contractors, and certificates of all insurance required to be obtained by Tenant pursuant to this Lease; provided, however, in the event that this Lease is in full force and effect but Tenant has not provided Landlord with a Building Permit within thirty (30) days after the date condition (i) is satisfied, Landlord may, in addition to other remedies which may then be available to Landlord, cancel and terminate this Lease by notice to Tenant given at any time thereafter. Upon any such cancellation and termination by Landlord. Landlord and Tenant shall each respectively be released from all further liability under this Lease, irrespective of what costs or expenses either of such parties shall have incurred prior to any such cancellation and termination. Section 26.2 If Landlord and Tenant have not agreed in writing upon said plans and specifications or one or more general contractors to be utilized by Tenant on or before the date hereof, then within thirty (30) days after landlord informs Tenant that the Premises are expected to be ready for commencement of Tenant's construction within ninety (90) days thereafter, Tenantshall cause complete plans and specifications (.working drawings") to be prepared and three (3) counterparts to be submitted to Landlord for examination along with a list of one (1) or more contractors acceptable to Tenant. If by the expiration of the aforesaid thirty (30) day period, Landlord and Tenant shall not have agreed in writing upon said completed working drawings and one or more contractors to be utilized by Tenant, then Landlord shall have the right to term inate this Lease at any time thereafter, upon which termination neither party shall have any claim against the other under this Lease irrespective of what costs or expenses, if any, either party shall have incurred in connection with this Lease prior to such cancellation. If such final working drawings are mutually approved by Landlord and Tenant in writing, such working drawings shall be initialed or signed by Landlord and Tenant and dated and designated "Tenant's Final Working Drawings., but need not be attached to this Lease. Section 26.3 Upon tender of possession of the Premises by Landlord to Tenant, Tenant shall enter the Premises and Tenant will perform such construction work and provide and install such materials as are provided in Tenant's Final Working Drawings and this Lease Agreement to be constructed or performed and installed by Tenant Tenant will also provide and install all other interior work, trade equipment, furniture, fixtures, and effects of every description necessary or appropriate for Tenant's business (other than those specifically stated in the Article 21 to be provided by Landlord) and all such items to be provided and installed by Tenant shall be new and modern and offirst-class quality. Landlord may make changes in its construction work (other than substantial changes) without Tenant's approval; Tenant will not unreasonably withhold approval of substantial changes proposed by landlord. In the event Tenant fails to satisfy the conditions precedent and also commence construction on or before the expiration of thirty (30) days from the date of tender of possession of the Premises to Tenant, then such failure shall constitute an Event of Default under this Lease and, without further notice, landlord shall have the right to either terminate this Lease at any time Page -11- III