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AMENDED AND RESTATED PURCHASE AND SALE AGREEMENT THIS AMENDED AND RESTATED
PURCHASE AND SALE AGREEMENT (this "Agreement") is made and entered into as of
the 13th day of December, 2018 ("Effective Date"), by and between Apex Park at
Pima, L.L.C., an Arizona limited liability company and its assignee under the
substitute lease (collectively, "Seller") and Axon Enterprise Holding Company,
LLC, a Delaware limited liability company ("Buyer") (sometimes collectively, the
"Parties" and individually, a "Party"). RECITALS A. On or about May 30, 2003,
Seller entered into that certain business lease (Business Lease B-704) as
amended by that certain First Amendment to Business Lease B-704 dated November
7, 2016, as the same may be amended from time to time, with Certain Allotted
Landowners of Land within the Salt River Pima-Maricopa Indian Community, as
"Lessor" thereunder (the "Landowners") (hereinafter the "Master Lease"), with
respect to certain land located on the Salt River Pima-Maricopa Indian Community
(the "Community") in Maricopa County, Arizona, commonly known as "Riverwalk" or
"Riverwalk Arizona" (the "Development"). B. Buyer and Seller have agreed to a
form of Substitute Lease attached hereto as Exhibit A (the "Substitute Lease"),
that Seller will assign to Buyer, and Buyer will assume, all of Seller's rights,
title and interest under the Substitute Lease, pursuant to the terms of this
Agreement. C. On September 14, 2018, Seller and Buyer entered into a Purchase
and Sale Agreement for the assignment of the Substitute Lease. On November 2,
2018, Buyer terminated the Purchase and Sale Agreement and was refunded all
payments previously made into Escrow. D. Buyer and Seller now desire to enter
into this Amended Purchase and Sale Agreement to, among other things, increase
the Real Property by five (5) acres (the "Additional Five Acres"), amend the
terms of the Agreement to provide for non-refundable deposits to Seller and
provide for an extended due diligence period, on the terms and conditions set
forth herein. AGREEMENT IN CONSIDERATION of the respective agreements
hereinafter set forth, Seller and Buyer agree as follows: 1. Property Included
in Sale. Seller hereby agrees to sell and convey to Buyer, and Buyer hereby
agrees to purchase from Seller the following: (a) all of Seller's interest, as
Lessee, under the Substitute Lease. Buyer acknowledges and agrees that the sale
to Buyer of Seller's interest under the Substitute Lease is and shall remain
subject and subordinate to the easements, restrictions, reservations and all
other encumbrances recorded against the underlying real property consisting of
approximately 28.57 The mark *** indicates that text has been redacted pursuant
to 1 a request for confidential treatment under Rule 24b-2 of the Securities
Exchange Act of 1934 and filed separately with the Securities and Exchange
Commission.

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acres of land located at approximately 7400 North Dobson Road, Scottsdale,
Arizona 85256 and more particularly described on Exhibit B attached hereto and
made a part hereof (the "Real Property"), including the Declaration of
Covenants, Conditions and Restrictions recorded in the Official Records of
Maricopa County, Arizona as Instrument No. 2005-0220102, as well as that certain
Amended and Restated Declaration of Covenants, Conditions, Restrictions and
Easements for Riverwalk recorded on July 15, 2008, as Instrument No. 20080616403
in the Official Records of the Maricopa County Recorder and that certain First
Amendment to Amended and Restated Declaration of Covenants, Conditions,
Restrictions and Easements for Riverwalk recorded on September 17, 2013 as
Instrument No. 20130832529 and that certain Second Amendment to Amended and
Restated Declaration of Covenants, Conditions, Restrictions and Easements for
Riverwalk recorded on April 19, 2018 as Instrument No. 2018- 0295812 in the
Official Records of the Maricopa County Recorder and that certain Second Amended
and Restated Declaration of Covenants, Conditions, Restrictions and Easements
for Riverwalk recorded on September 14, 2018 as Instrument No. 2018-0693825 in
the Official Records of the Maricopa County Recorder, as amended or hereafter
may be further amended (collectively, the "Declarations"). For purposes of this
Agreement, the term "Real Property" shall be limited to Seller's leasehold
interest in the Real Property pursuant to the Substitute Lease and access and
utility easements located within the original Master Lease necessary for Buyer's
use of the Substitute Lease premises for the Substitute Lease term. Buyer
understands and acknowledges that Seller has no right, title or interest in or
to the underlying fee interest in the Real Property; (b) improvements located on
the Real Property (if any exist); and (c) any rights and privileges appurtenant
to the Real Property, all of which (if any exist) are agreed to be and
constitute part of the Real Property. All of the items referred to in
subparagraphs (a), (b) and (c) are collectively referred to as the "Property".
2. Opening of Escrow, Purchase Price and Deposit. 2.1. Opening of Escrow. Within
three (3) days following the Effective Date, the Parties hereto shall each
deposit two (2) original executed counterparts of this Agreement with Title
Company (defined below) and Title Company shall notify the Parties, in writing,
of its receipt of such counterparts. This Agreement shall serve as escrow
instructions to the Title Company, as escrow holder, for consummation of the
purchase and sale contemplated hereby. Seller and Buyer agree to execute such
additional or supplementary escrow instructions as may be appropriate to enable
the escrow holder to comply with the terms of this Agreement; provided, however,
that in the event of any conflict between the provisions of this Agreement and
any such additional or supplementary escrow instructions, the terms of this
Agreement shall control. 2.2. Purchase Price and Prepaid Rent. 2

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(a) Purchase Price. The purchase price for the Property ("Purchase Price") shall
be Thirteen Million Ninety Eight Thousand Four Hundred and Ninety Two Dollars
and 00/100 ($13,098,492.00). (b) Prepaid Rent. In addition to the Purchase
Price, Buyer has agreed to pay a one-time prepaid rent payment to the
Landowners, in accordance with the Substitute Lease. The Prepaid Rental Amount
shall be Ten Million Nine Hundred Fourteen Thousand Four Hundred Eight Dollars
and 00/100 ($10,914,408.00) ("Prepaid Rental Amount"). The Prepaid Rental Amount
shall be approved by the Spokespersons named pursuant to the Master Lease
("Spokespersons"), the Community and BIA prior to the expiration of the Due
Diligence Period (defined below). Seller shall meet with the Spokespersons and
Landowners during the Due Diligence Period to discuss the Prepaid Rental Amount
and the terms of the Substitute Lease. 2.3. Deposit. The Purchase Price shall be
paid as follows: (a) Escrow. Buyer shall deposit in escrow (the "Escrow") with
First American Title Insurance Company ("Title Company"), 2425 E. Camelback
Road, Suite 300, Phoenix, Arizona 85016, Attention: Tom Anzaldua ("Escrow
Agent") a deposit in the amount of One Hundred Fifty Thousand Dollars and 00/100
($150,000.00) (the "Initial Deposit") no later than the third (3rd) day
following the Effective Date. The Initial Deposit shall be non-refundable to
Buyer and released to Seller at Seller's written request to Escrow Agent. Unless
this Agreement is terminated by the Due Diligence Deadline Date (defined below),
Buyer shall deposit an additional Two Hundred Fifty Thousand Dollars and 00/100
($250,000.00) (the "Additional Deposit") into Escrow. The Additional Deposit
shall be non-refundable to Buyer and released to Seller at Seller's written
request to Escrow Agent. The Initial Deposit and Additional Deposit shall be
referred to collectively as the "Deposit." (b) The balance of the Purchase Price
(i.e., the Purchase Price less (i) the Deposit, and (ii) if applicable, the
Closing Extension Fee (defined below) and any pro rations payable by Buyer
hereunder, shall be paid to Seller on the Closing Date (defined below). (c)
Title Company is instructed to deposit the Deposit and the Closing Extension Fee
in a federally insured money market or other similar account, subject to
immediate withdrawal, at a bank or savings and loan institution located in
Phoenix, Arizona. (d) Interest earned on the Deposit and the Closing Extension
Fee (if any) shall be retained in Escrow until the Closing (or termination or
cancellation), at which time, such interest shall be paid to Seller. 3. Due
Diligence. 3.1. Due Diligence Period. The "Due Diligence Period" shall commence
on the Effective Date and expire on March 4, 2019 (the "Due Diligence Deadline
Date"). 3.2. Right of Entry. During the Due Diligence Period, Buyer may perform,
in its discretion, site investigations and feasibility studies and analyses with
respect to the Property as deemed necessary by Buyer pursuant to the terms of
that certain Site Access and Indemnification Agreement to be entered into by the
Parties as of the Effective Date ("Access Agreement"), 3

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which is attached hereto as Exhibit D. Buyer shall not access the Property until
an executed Access Agreement is provided to Seller with the required insurance
certificates. The terms of the Access Agreement shall be incorporated herein as
though fully set forth herein. This indemnity and covenants contained in the
Access Agreement shall survive the termination of this Agreement and the
Closing, as applicable, and remain in full force and effect. 3.3. Due Diligence
Activities. (a) During the Due Diligence Period, the following shall occur: (1)
Survey. Buyer shall, at its sole cost and expense, cause the Real Property to be
surveyed (or the initial survey to be updated to include the additional five (5)
acres) and an ALTA/ACSM Land Title Survey prepared in accordance with the 2016
Minimum Standard Detail (the "ALTA Survey"), which ALTA Survey shall, among
other things, include as a part thereof, a determination of the gross acreage
and the gross square footage of the entire Real Property, the identification of
each allotment and any and all other requirements of the Community. The ALTA
Survey shall be prepared by Survey Innovations Group and shall be certified to
Seller as well as Buyer. Subject to Seller's written approval of the ALTA Survey
(and at Seller's option, further subject to the approval of the Community), the
gross square footage of the Real Property as indicated on the ALTA Survey shall
then be used for purposes of determining and calculating the final Purchase
Price for the Real Property. Buyer shall pay $10/per square foot for the Real
Property and for any Real Property in excess of 23.57 acres, Buyer shall pay
$13/per square foot. Buyer shall also obtain a final proforma title policy from
the Title Company in a form acceptable to Buyer. (2) Environmental Reports. In
accordance with the terms of the Access Agreement, Buyer shall, at Buyer's sole
cost and expense, cause a Phase 1 environmental survey and report to be
completed on the Real Property (including the additional five (5) acres) by a
duly certified and licensed professional. In the event that the Phase 1 Report
recommends completion of a Phase 2 Environmental Report, Buyer shall notify
Seller and Seller may terminate this Agreement or may agree to cause a Phase 2
Report to be conducted at Buyer's sole cost and expense. (3) Development
Agreement. Buyer shall negotiate a Development Agreement with the Community that
may include provisions related to: (i) a waiver or cap of the Community's
possessory interest tax; (ii) a cap on the construction sales tax and impact
fees; (iii) resolution of any outstanding issues related to the adoption of the
Liability Limitation Ordinance approved by the Community; and (iv) resolution of
the location of the bridge required by the Community. The Parties agree that the
execution of a Development Agreement is not required during the Due Diligence
Period and that Buyer only needs to obtain reasonable assurances from the
Community that acceptable terms of the Development Agreement would be agreed to
prior to Closing. However, if prior to Closing, the Community refuses to execute
the Development Agreement, Buyer shall have the right to terminate this
Agreement and shall have no obligation to pay the balance of the Purchase Price
to Seller. Buyer shall not be entitled to a refund of the Deposit. 4

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(4) Easements. Buyer and Seller shall also obtain approval from the Community of
the draft Easement Agreements attached hereto at Exhibit C. (5) Substitute
Lease. Buyer and Seller shall obtain reasonable assurances that approval of the
Substitute Lease (including the Prepaid Rental Amount and timing thereof and an
extension of the lease term to eighty-four (84) years) and the Assignment will
be obtained prior to Closing by the Spokespersons, and Secretary and the
Community. (b) Expiration of the Due Diligence Period. Unless otherwise stated
herein, Buyer shall have the right to terminate this Agreement by written notice
to the Title Company and Seller at any time prior to the expiration of the Due
Diligence Period and upon such termination, Seller and Buyer shall have no
further obligations under this Agreement, except for Buyer's obligations that
survive termination of this Agreement, and the Deposit, less all escrow
cancellation charges and costs, will be released to Seller (if not previously
released to Seller). If Buyer does not terminate the Agreement prior to the
expiration of the Due Diligence Period, Buyer shall be deemed to have waived its
right to terminate during the Due Diligence Period and prior to the Due
Diligence Deadline Date, Buyer shall deposit the Additional Deposit into Escrow.
The Additional Deposit shall be non-refundable to Buyer. 4. Community Approval
Period. 4.1. Timeframe for Required Community Approvals. Buyer shall have 150
days after the Due Diligence Deadline Date (the "Approval Period") to obtain the
Community Approvals. For purposes of this Agreement, the term "Community
Approvals" shall mean the Conditional Use approvals from the Land Management
Board and/or any Tribal Council approvals (if required); and Design Review
Committee Approval and/or any necessary zoning approvals from the Community
Development Department. Buyer shall deliver written notice to Seller of its
receipt of any of the Community Approvals promptly after obtaining the same.
4.2. Extensions. In the event Buyer, despite its best efforts, has not obtained
the Community Approvals prior to the expiration of the Approval Period and
provided that Buyer is not in default of this Agreement, Buyer may, at its
option, extend the Approval Period for thirty (30) days by providing written
notice to Seller (the "First Extension Period"). If Buyer has not obtained the
Community Approvals prior to the expiration of the First Extension Period and
provided that Buyer is not in default of this Agreement, Buyer may extend the
Approval Period for an additional thirty (30) days by providing written notice
to Seller. 5. Community Approvals. 5.1. Development Consultant. All submittals,
correspondence, scheduling of meetings and other Community activities shall be
reviewed by Mr. Kent Moe, Seller's representative, and Buyer shall make
reasonable efforts to notify Seller's representative of its communications with
the Community. 5.2. Design. Seller has approved the Buyer's Master Plan, Site
Plan, and Colored Elevations (the "Conceptual Plans"), a copy of the Site
Plan/Pre-App Plans is attached at Exhibit E. Seller's approval also constitutes
approval by the Architectural Review Committee of the Association. Buyer and
Buyer's Consultants shall continue to design the Real Property 5

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improvements consisting of an approximate 325,000 square foot AXON corporate
headquarters building, containing corporate office space, light assembly
manufacturing, warehouse space, public space, and other first class related
amenities, driveways, sidewalks, parking structures, lots and areas, parking lot
lighting, landscaping, off-site improvements (including extensions of existing
utilities, if required), as generally shown on Exhibit F-2 (Water/Sewer), and
Exhibit F-3 (Electric/Gas/Telephone) attached hereto (collectively, the "Buyer
Improvements"), except the Private Roads as described in Section 7.6. 5.3.
Pre-Application Plans. Buyer has submitted the following plans to the Community:
Master Plan, Site Plan, Colored Elevations, Conceptual Grading & Drainage Plans,
Conceptual Utility Plans, and Conceptual Landscape Plans (the "Pre-App Plans"),
a copy is attached as Exhibit E. Buyer shall schedule a Pre-App Meeting with the
Community. To ensure consistency in the overall design integrity of the land
located on the Community in Maricopa County, Arizona, commonly known as
"Riverwalk" or "Riverwalk Arizona," during the design and construction process,
Buyer covenants that it will, at its sole cost and expense, hire and utilize
Civil Engineering Consultants for civil engineering work associated with the
Real Property. 5.4. CUP & DRC Plans. Following the Pre-Application meeting and
comments from the Community Development Department, Buyer and Buyer's
Consultants shall prepare, for review and approval by Seller, the application
materials for a request for Conditional Use Permit and Design Review Committee
(which shall include the Additional Five Acres) (the "CUP & DRC Package"). Buyer
shall provide the CUP & DRC Package to Seller no later than seventy- five (75)
days after the Pre-App meeting. Seller shall then have fourteen (14) days to
review the CUP & DRC Package and provide any comments to Buyer. Buyer shall
incorporate Seller's comments (if any) and after obtaining Seller's approval to
the revised CUP & DRC Package, the Parties agree that such approved CUP & DRC
Package shall form the basis for moving forward and Buyer, with Seller's
approval, shall formally submit the CUP & DRC Package for approvals by the
Community in substantial conformance with the Pre-App Plans. The CUP & DRC
Package shall be submitted to the Community and Buyer shall take all necessary
action to obtain Community Approvals during the Approval Period as set forth in
Section 4. Seller shall be responsible for obtaining approval of the CUP & DRC
Package from the Architectural Review Committee of the Association and shall
provide Buyer with a letter of approval. 5.5. Signage. As part of the CUP and
DRC submittal, Buyer shall submit any Buyer signage requirements and obtain (a)
Seller's written approval of its proposed signage (which shall also constitute
approval by the Architectural Review Committee of the Association); and (b)
approval of the Community. All signage in the Development shall comply with the
Comprehensive Sign Criteria for Riverwalk (per approved CUP and DRC Packages),
as determined by Seller from time to time, and the applicable provisions in the
Master Lease. Buyer shall have the right, to the extent permitted by applicable
governmental laws, regulations and ordinances, to erect its own signage on the
Property. All costs associated with Buyer's signage, including installation and
maintenance costs, shall be paid by Buyer. In the event that an update to the
Comprehensive Sign Criteria for Riverwalk is required for Buyer's signage within
the Development, Buyer may, at its sole cost and expense, obtain such update;
provided Buyer obtains Seller's prior written approval of the amendment and
utilizes JRC Design as its sign consultant. 6

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6. Closing and Escrow. 6.1. Closing Date. Closing of the transaction will occur
on the date on which Seller conveys to Buyer title to the Real Property (the
"Closing"). Subject to an extension pursuant to Section 6.2, the Closing shall
occur on the business day that is thirty (30) days after the date of Community
Approvals (the "Closing Date"). 6.2. Closing Extension Fee. After Community
Approvals are obtained and prior to the Closing Date, Buyer may, in its sole
discretion, extend the Closing Date by up to one hundred twenty (120) days by
(i) providing written notice to Seller of its intent to extend the Closing Date;
and (ii) depositing into Escrow a non-refundable payment in the amount of One
Million One Hundred Thousand Dollars and 00/100 ($1,100,000.00) ("Closing
Extension Fee"). The Closing Extension Fee is non-refundable to Buyer and shall
be applied to the Purchase Price on the Closing Date, as extended. In the event
that Buyer fails to close by the Closing Date (as extended), this Agreement
shall terminate and the Closing Extension Fee and the Deposit shall be released
to Seller and neither Party shall have any further rights or obligations under
this Agreement except for those that survive termination. 6.3. Title to the
Property. At the Closing, Seller shall convey to Buyer title to the Real
Property by duly executed and acknowledged Assignment of Amended and Restated
Substitute Lease substantially in the form attached as Exhibit G (the
"Assignment"), which will be recorded at Closing. Prior to the expiration of the
Approval Period and at the Closing, Seller at no cost to Buyer, shall obtain
from the Title Company for Buyer an American Land Title Association Standard
Leasehold Owner's Policy (2006) (without revision, modification or amendment) in
the amount of not less than the sum of the Purchase Price and Prepaid Rental
Amount, insuring title to the Real Property (including acceptable endorsements
insuring access and utilities) (the "Title Policy"). Buyer, at its sole cost and
expense, shall also be entitled to obtain extended owner's leasehold estate
coverage insuring the leasehold interest of Buyer for an amount equal to the
value of the leasehold and Buyer's Improvements. Buyer shall also pay any
additional premium(s) for any endorsements, lenders' policy or any other title
insurance requirements of Buyer or Buyer's title insurer. Seller will use
reasonable efforts, at no out-of- pocket expense to Seller, to comply with any
reasonable requirements of the title insurer regarding the issuance of an
extended owner's leasehold title insurance policy to Buyer. After expiration of
the Approval Period, Buyer's ability to obtain extended coverage title
insurance, lender's title insurance or any particular title insurance
endorsements, however, shall not be a condition to the effectiveness of this
Agreement. 6.4. Delivery to Escrow by Seller. At or before the Closing, Seller
shall deposit with Title Company, in Escrow, the following: (a) three (3)
originals of the duly executed and acknowledged Assignment of Substitute Lease,
with Lessor, Community and BIA approvals attached; (b) three (3) originals of a
duly executed affidavit pursuant to Section 1445(b)(2) of the Federal Code, and
on which Buyer is entitled to rely, that Seller is not a "foreign person" within
the meaning of Section 1445(f)(3) of the Federal Code; 7

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(c) one (1) original of the Substitute Lease signed by (i) the Spokespersons,
(ii) to the extent required by the Title Company, Community or BIA, by the
applicable percentage of the Landowners required under 25 USC 2218(b), (iii) to
the extent required, any Landowners that own more than fifty percent (50%) of
any one allotment, (iv) the Community, (v) BIA and (vi) Seller (including any
documents required thereunder); (d) a bill of sale conveying to Buyer, free and
clear of all liens and encumbrances, all of Seller's personal property located
on the Real Property; (e) one (1) original, duly executed Subordination and
Non-Disturbance Agreement, in recordable form, with the Community, the
Landowners and any lender thereof guaranteeing access and other utility
easements to the Property in the event that Seller's leasehold is foreclosed;
(f) one (1) original, duly executed estoppel from the Community and the
Landowners certifying to Buyer and any lender of Buyer that there are no
defaults under the Master Lease, Substitute Lease and any/all access (ingress,
egress, utilities) leasehold easements; (g) one (1) original, duly executed
estoppel from any lender of Seller or the Landowners certifying that there are
no defaults under any financing that may encumber the Seller's or Landowners'
respective interests in the property; (h) a closing statement prepared by the
Title Company duly executed by Seller in form and content reasonably
satisfactory to Buyer and Seller; and (i) any other instruments, records or
correspondence in Seller's possession called for hereunder which have not
previously been delivered to Buyer. 6.5. Delivery to Escrow by Buyer. At or
before the Closing, Buyer shall deposit with Title Company, in Escrow, the
following: (a) a duly executed and acknowledged Assignment of Substitute Lease;
(b) a closing statement duly executed by Buyer in form and content satisfactory
to Buyer and Seller; (c) resolutions, authorizations and organizational
documents relating to Buyer and its members, partners, principals or
shareholders, as applicable, as shall be reasonably required by Title Company;
and (d) the balance of the Purchase Price. Seller and Buyer shall each deposit
such other instruments as are reasonably required by the Title Company or
otherwise required to close the escrow and consummate the transaction
contemplated hereby in accordance with the terms hereof. 8

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6.6. Apportionments. The following are to be apportioned as of the Closing Date,
as follows: (a) Rent. Rent under the Substitute Lease shall be apportioned as of
the Closing Date, regardless of whether or not such rent has been paid. (b)
Other Apportionments. Buyer shall pay for the ALTA Survey, the Phase 1
Environmental Report and any update to the ALTA Survey or the Phase 1 of the
Property. Seller will pay for the cost of a title policy as required under
Section 6.3. Buyer shall be responsible for payment of any premiums or charges
in excess of the cost of title policy required to be paid by Buyer under Section
6.3. Escrow fees and recording fees, if any, shall be paid in equal shares by
Buyer and Seller. Seller shall pay the cost of the documentary transfer taxes
applicable to the sale. All other costs and charges of the escrow for the sale
not otherwise provided for in this Section 6.6 or elsewhere in this Agreement
shall be allocated in accordance with the closing customs for Maricopa County,
Arizona. (c) Possessory Interest Taxes and Special Assessments. Non-delinquent
general real estate taxes for the tax year of the Closing and any assessments
against the Property, including interest in connection payable therewith, for
the tax year of the Closing shall be prorated by Seller and Buyer as of the
Closing Date. (d) Post-Closing Reconciliation. If any of the aforesaid
prorations cannot be calculated accurately on the Closing Date, then they shall
be calculated as soon after the Closing Date as feasible, but in any event, not
later than thirty (30) days after the last of the calendar year in which the
Closing shall occur and either Party owing the other Party a sum of money based
on such subsequent proration(s) shall promptly pay said sum to the other Party.
(e) Survival. The provisions of this Section 6.6 shall survive the Closing. 6.7.
Closing Instructions. At the Closing, Title Company shall: (a) at such time as
Title Company is irrevocably obligated to issue the Title Policy to Buyer,
record a Memorandum of Substitute Lease and the Assignment in the (1) Official
Records of Maricopa County, Arizona (2) Community's Title Office, and (3) Bureau
of Indian Affairs Title Office; (b) deliver to Seller the Purchase Price (as
adjusted for the prorations hereunder) by wire transfer of immediately available
federal funds to a bank account designated by Seller in writing to Title
Company; (c) deliver to Seller and Buyer the closing statements approved by
Seller and Buyer, as applicable; and (d) deliver the Title Policy to Buyer. 7.
Post-Closing Development Covenants. Buyer and Seller agree to the following
process and schedule for the post-closing development of the Property, which
covenants, conditions and agreements shall survive Closing: 9

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7.1. Permit Plans. Buyer shall prepare all application materials as necessary to
obtain a building permit and sign permit(s) from the Community, including but
not limited to, a complete set of construction documents and specifications for
the site, shell building and other improvements and amenities on the Real
Property suitable for bidding, permitting and construction processes (the
"Permit Plans"). The Permit Plans shall be prepared in accordance with the
approved CUP & DRC Package and as required for this Agreement, the Substitute
Lease, the Declarations, Community Approvals and applicable zoning and Community
codes and regulations (as amended). Further, Buyer shall also be responsible for
compliance with any Community requirements, approvals or zoning regulations in
the event Buyer seeks to expand the improvements shown on the Conceptual Plans.
Buyer shall diligently pursue and obtain approval of the Permit Plans. Buyer
shall not make any material changes to the Permit Plans unless such revised
Permit Plans ("Revised Permit Plans") have been submitted to Seller and the
Revised Permit Plans have been approved by Seller in advance of submission to
the Community. In such event, Buyer shall also provide a copy of the Community
approval of the Revised Permit Plans to Seller. For the sake of clarity, Buyer
is not required to obtain Seller approval of the initial Permit Plans provided
such plans are prepared in accordance with the approved CUP & DRC Package. Buyer
is only required to obtain Seller approval on any Revised Permit Plans. 7.2.
Intentionally Deleted. 7.3. Reservation of Rights. Seller (and after Closing,
the Governing Body in accordance with the CC&RS ) hereby reserves the right and
option, and reserves unto itself, its tenants, sublessees, subtenants, users,
employees, agents, servants, contractors, invitees, successors, assigns and
other parties and their respective vehicles, equipment, fixtures and
improvements to grant, have and hold one (1) or more easements and rights-of-way
upon, across, over and through the Real Property for purposes of a cross-access
easement, driveway, access drive, roadway, signage and utilities easement and
right-of-way, right of ingress, egress and access, right to install, construct,
maintain, repair and replace roadways, bridges, utilities and improvements and
common area access; provided that such easements and right of ways shall not
interfere with Buyer's Improvements or materially reduce the value of the Real
Property. 7.4. General Guidelines. Buyer shall construct the Buyer Improvements
at its sole cost and expense, in a good and workmanlike manner, in material
conformance with the approved Permit Plans and in compliance with applicable
laws, regulations, building codes and applicable CC&R and other land use
restrictions of record. The general contractor for the construction of the Buyer
Improvements shall be licensed and bonded in Arizona and shall be subject to
Seller's reasonable prior written approval (provided that Oakland Construction
is hereby deemed to be approved by Seller). Within forty five days (45) after
completion of Buyer’s Improvements, Buyer shall provide Seller with a final ALTA
survey. 7.5. Alterations. Removal or demolition of any improvements,
alterations, additions or repairs to any exterior improvements that require
Design Review Committee (or similar department of the Community) approval shall
not be made without the prior consent of the Governing Body in accordance with
the CC&Rs, which consent and approval shall not be unreasonably withheld or
delayed. Buyer shall prepare and submit its plans for removal or demolition of
improvements or exterior alterations, additions or repairs to any improvements
10

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requiring Design Review Committee approval to the Governing Party in accordance
with the CC&Rs. Unless earlier approved, or rejected in writing, such plans
shall be deemed approved thirty (30) days following submission. Alterations or
repairs to the interior of buildings do not require approval of Seller,
Governing Body, Master Lessor, Community, or Secretary. 7.6. Roadway
Improvements and Construction of Private Roads. The Parties agree that (i) the
Real Property will have access as generally shown in the vicinity and roughly
depicted on Exhibit F-1 attached hereto and made a part hereof and labeled
"Buyer's Dedicated Roadway Access", "Buyer's ½ Width Roadway Access" and
"Seller's Dedicated Roadway Access" (the "Access Roadway"); (ii) the roadways
shown as "Seller's Dedicated Roadway Access" are hereby accepted by Buyer in its
existing "as-is" and "where is" condition with all faults; (iii) the costs and
expenses associated with Buyer's Dedicated Roadway Access and Buyer's ½ Width
Roadway Access (collectively, the "Private Roads") shall be paid by Buyer and
constructed by Seller. At its sole cost and expense, Seller shall also construct
the other half of the Buyer's ½ Width Roadway Access. As soon as reasonably
possible, Buyer shall notify Seller of its expected date for issuance of a
Certificate of Occupancy for the Buyer Improvements and Seller shall use
commercially reasonable efforts to cause such Private Roads to be completed six
(6) months prior to the expected date of the Certificate of Occupancy (provided
Buyer provides notice at least nine (9) months in advance). Seller shall obtain
a bid for the construction of the Private Roads and within fifteen (15) days,
Buyer shall pay Seller one hundred fifteen percent (115%) of the costs set forth
in the bid. Upon payment for the Private Roads, Seller shall cause the Private
Roads to be substantially completed materially in accordance with permit plans
approved by the Community and all applicable approving authorities. Upon
completion, Seller shall refund Buyer any excess amounts paid or in the event of
an overage, Seller shall provide Buyer with an invoice for payment within thirty
(30) days. Buyer grants Seller the right to use the Real Property for
construction purposes associated with the Private Roads and any other
improvements to be constructed by Seller. Seller shall ensure that the Private
Roads will be maintained by the Association after completion. 8. Representations
and Warranties of Seller. Seller hereby represents and warrants to and covenants
with Buyer as follows: (a) Seller is an Arizona limited liability company duly
organized and validly existing and in good standing under the laws of the State
of Arizona; this Agreement and all documents executed by Seller which are to be
delivered to Buyer at the Closing are and at the time of the Closing will be
duly authorized, executed and delivered by Seller, are and at the time of the
Closing will be legal, valid and binding obligations of Seller enforceable
against Seller in accordance with their respective terms, are and at the time of
the Closing will be sufficient to convey title (if they purport to do so), and
do not and at the time of the Closing will not violate any provision of any
agreement or judicial order to which Seller or the Property is subject. (b)
Seller is not a party to any pending or, to its actual present knowledge with no
duty of investigation or inquiry threatened action, suit, proceeding or
investigation, at law or in equity or otherwise, in, for or by any court or
governmental board, commission, agency, department or officer arising from or
relating to this transaction, the Property or to the past or present operations
and activities of Seller upon or relating to the Property. No litigation,
administrative or other proceeding (including any condemnation proceeding), or
order or 11

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[alteraxonamendedandresta012.jpg]
judgment is pending, outstanding, or to Seller's actual, present knowledge
threatened against or relating to any portion of the Property or which could
affect the performance by Seller of any of its obligations under this Agreement.
(c) Seller holds the leasehold interest in the Property and no other party has
any interest in the Property other than Seller's leasehold interest and
Landowners' fee interest. (d) The Master Lease is in full force and effect, has
not been altered, amended or modified except pursuant to any amendments
disclosed by Seller. Neither the landlord named in the Master Lease or
Substitute Lease nor Seller is in default under the Master Lease or Substitute
Lease, nor has any event or circumstance occurred, to the knowledge of Seller
that would with the passage of time or giving of notice, or both, result in an
event of default under the Master Lease or Substitute Lease by such landlord
and/or tenant. Seller as tenant has not given written notice of any offsets,
defenses or claims available against Rent or other charges or amounts payable by
it or other performance or obligations otherwise due from it under the Master
Lease or Substitute Lease. (e) Neither Seller nor any of its managers or members
are the subject debtor(s) under any federal, state or local bankruptcy or
insolvency proceeding, or any other proceeding for dissolution, liquidation or
winding up of its assets, and, to the best of Seller's knowledge, no such
actions have been threatened against Seller or its managers and members. (f)
Seller has not received any written notice and has no knowledge of any pending
or threatened condemnation action or proceeding affecting any portion of the
Property. (g) Seller has not received written notice from any governmental or
regulatory agency of any violation of any environmental law related to the
Property or the presence or release of any hazardous materials on or from the
Property. (h) Seller has received no written notice nor, to the best of Seller's
knowledge, is any such notice pending or threatened in writing, from any
governmental authority having jurisdiction over the Property, or from any other
person or entity, to the effect that the Property is not currently in compliance
with applicable laws and ordinances, including, without limitation,
environmental, zoning, ADA compliance, subdivision, building or similar laws,
ordinances, codes, orders or regulations, and Seller has no actual knowledge
that the Property is not currently in compliance with all applicable laws and
ordinances. (i) On the Closing Date there will be no outstanding contracts made
by Seller for any improvements to the Property which have not been fully paid
for, and Seller shall cause to be discharged all mechanics or materialmen's
liens arising from any labor or materials furnished to the Property prior to the
Closing Date. (j) Seller is not a "foreign person" within the meaning of Section
1445(0(3) of the Federal Code. (k) To Seller's actual knowledge, Seller: (i) is
not under investigation by any governmental authority for, or have been charged
with, or convicted of, money laundering, drug trafficking, terrorist-related
activities, any crimes which in the United States would be predicate 12

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[alteraxonamendedandresta013.jpg]
crimes to money laundering, or any violation of any Anti Money Laundering Laws
(as hereinafter defined in this Article); (ii) has not been assessed civil or
criminal penalties under any Anti-Money Laundering Laws; or (iii) has not had
any of its funds seized or forfeited in any action under any Anti Money
Laundering Laws. The term "Anti­Money Laundering Laws" shall mean all applicable
laws, regulations and sanctions, state and federal, criminal and civil, that:
(w) limit the use of and/or seek the forfeiture of proceeds from illegal
transactions; (x) limit commercial transactions with designated countries or
individuals believed to be terrorists, narcotics dealers or otherwise engaged in
activities contrary to the interests of the United States; (y) require
identification and documentation of the parties with whom a financial
institution conducts business; or (z) are designed to disrupt the flow of funds
to terrorist organizations. (l) That the copies of the Master Lease, Substitute
Lease and applicable Declarations provided to Buyer by Seller are true and
complete copies of the then-current Master Lease, Substitute Lease and
Declarations, that the Master Lease and Substitute Lease are in full force and
effect and that Seller is not in default under either the Master Lease or
Substitute Lease. (m) To Seller's actual knowledge, Exhibit F-3 hereof
accurately depicts the location of electric, gas, telephone, and Exhibit F-2
depicts the location of the water utilities on, or near the Real Property. (n)
To the extent Seller has authority to do so (and without any inquiry or
knowledge), the use by Buyer of the Buyer Improvements, as approved by Seller
pursuant to this Agreement, does not violate the Declarations (specifically
Section 5.2(c)(vii) and (c)(viii). The representations and warranties set forth
in this Section 8 are true and correct on the Effective Date, shall be true and
correct on the Closing Date, and shall survive the Closing for a period of one
(1) year. Buyer's obligation to complete Closing is subject to the foregoing
representations and warranties being true and correct on the Closing Date. If
such representations and warranties are not true and correct at Closing, Buyer
shall have the right to terminate this Agreement and, notwithstanding any
provision of this Agreement to the contrary, to receive a refund of the Deposit.
If prior to the Closing, Seller becomes aware that any representation or
warranty set forth in this Agreement that was true and correct on the date of
this Agreement has become incorrect due to changes in conditions or the
discovery by Seller of information of which Seller was unaware on the date of
this Agreement, then Seller shall immediately notify Buyer thereof and the
representations and warranties set forth herein which are to be remade and
reaffirmed by Seller at the Closing shall be supplemented by such new
information. If such notification occurs after expiration of the Approval
Period, and if in Buyer's reasonable judgment such change in condition or new
information has a material adverse impact on the Property or transactions
contemplated hereunder, Buyer may elect within five (5) business days after
receipt of such notice to provide written notice to Seller of Buyer's intent to
terminate this Agreement. 9. Representations and Warranties of Buyer. Buyer
hereby represents and warrants to Seller as follows: (a) Buyer is a corporation
duly organized and validly existing and in good standing under the laws of the
Delaware. This Agreement and all documents executed by Buyer 13

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[alteraxonamendedandresta014.jpg]
which are to be delivered to Seller at the Closing are and at the time of the
Closing will be duly authorized, executed and delivered by Buyer, are and at the
time of the Closing will be legal, valid and binding obligations of Buyer
enforceable against Buyer in accordance with their respective terms, and do not
and at the time of the Closing will not violate any provision of any agreement
or judicial order to which Buyer is subject. Buyer shall have obtained final
approval of this Agreement by its Board of Directors. (b) Buyer represents and
warrants that (a) Buyer and each person or entity owning an interest in Buyer is
(i) not currently identified on the Specially Designated Nationals and Blocked
Persons List maintained by the OFAC and/or on any other similar List, (ii) not a
person or entity with whom a citizen of the United States is prohibited to
engage in transactions by any trade embargo, economic sanction, or other
prohibition of United States law, regulation, or Executive Order of the
President of the United States, and (iii) not an "Embargoed Person" (b) to
Buyer's actual knowledge, none of the funds or other assets of Buyer constitute
property of, or are beneficially owned, directly or indirectly, by any Embargoed
Person (as hereinafter defined), and (c) to Buyer's actual knowledge, no
Embargoed Person has any interest of any nature whatsoever in Buyer (whether
directly or indirectly). (c) Buyer covenants that during the entire course of
the design and construction process for the Real Property it shall, at its sole
cost and expense, hire and utilize consultants selected by Seller for civil
engineering design (Civil Engineering Consultants). (d) EXCEPT AS EXPRESSLY SET
FORTH IN THIS AGREEMENT, IT IS UNDERSTOOD AND AGREED THAT SELLER IS NOT MAKING
AND HAS NOT AT ANY TIME MADE ANY WARRANTIES OR REPRESENTATIONS OF ANY KIND OR
CHARACTER, EXPRESS OR IMPLIED, WITH MASTER LEASE, INCLUDING, BUT NOT LIMITED TO,
ANY WARRANTIES OR REPRESENTATIONS AS TO HABITABILITY, MERCHANTABILITY, FITNESS
FOR A PARTICULAR PURPOSE, TITLE, ZONING, TAX CONSEQUENCES, LATENT OR PATENT
PHYSICAL OR ENVIRONMENTAL CONDITION, UTILITIES, OPERATING HISTORY OR
PROJECTIONS, VALUATION, GOVERNMENTAL APPROVALS, THE COMPLIANCE OF THE PROPERTY
WITH GOVERNMENTAL LAWS, THE TRUTH, ACCURACY OR COMPLETENESS OF THE
PROPERTY-RELATED DOCUMENTS OR ANY OTHER INFORMATION PROVIDED BY OR ON BEHALF OF
SELLER TO BUYER, OR ANY OTHER MATTER OR THING REGARDING THE SAME. BUYER
ACKNOWLEDGES AND AGREES THAT UPON THE CLOSING, SELLER SHALL ACCEPT THIS PROPERTY
AND ALL OF SELLER'S INTEREST IN THE SUBSTITUTE LEASE IN "AS IS, WHERE IS
CONDITION WITH ALL FAULTS AND DEFECTS," EXCEPT TO THE EXTENT EXPRESSLY PROVIDED
OTHERWISE IN THIS AGREEMENT. (e) BUYER AGREES THAT, EXCEPT AS SPECIFICALLY SET
FORTH IN THIS AGREEMENT, BUYER IS NOT RELYING ON ANY WARRANTY OR REPRESENTATION
OF SELLER OR ANY AGENT, EMPLOYEE, REPRESENTATIVE, MEMBER OR MANAGER OF SELLER,
AND THAT BUYER IS ACQUIRING THE PROPERTY, AND ALL IMPROVEMENTS THEREON OR
THEREUNDER, BASED UPON BUYER'S EXAMINATION AND INVESTIGATION OF THE PROPERTY AND
THE EXERCISE OF BUYER'S JUDGMENT, "AS IS," "WHERE IS" SUBJECT TO ALL FAULTS 14

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AND DEFECTS AND WITHOUT ANY EXPRESSED, IMPLIED OR STATUTORY WARRANTIES OR
REPRESENTATIONS OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, MATERIALS,
WORKMANSHIP, GOOD AND WORKMANLIKE CONSTRUCTION, DESIGN, CONDITION, HABITABILITY,
TENANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY, ACCESS TO
PUBLIC ROADS, INCOME POTENTIAL, FUTURE VALUE, THE ENVIRONMENTAL CONDITION OF THE
PROPERTY OR THE CONDITION OR SUITABILITY OF ALL ON-SITE AND OFF-SITE
IMPROVEMENTS, INCLUDING COMMON AREAS, AND SELLER HEREBY DISCLAIMS ANY SUCH
WARRANTY. BY THE EXPIRATION OF THE DUE DILIGENCE PERIOD, BUYER AGREES THAT BUYER
SHALL HAVE DETERMINED (1) THE PHYSICAL CONDITION OF THE PROPERTY AND ALL ON-SITE
AND OFF-SITE IMPROVEMENTS, INCLUDING COMMON AREAS, AND THAT THERE IS NO DEFECT
OF CONDITION WHICH IS UNACCEPTABLE TO BUYER, (2) WHETHER ANY PORTION OF THE
PROPERTY LIES IN ANY FLOOD PLAIN, FLOOD WAY OR SPECIAL FLOOD HAZARD AREA, (3)
WHETHER ANY GEOLOGICAL FAULT OR UNSATISFACTORY SOIL CONDITION EXISTS ON ANY
PORTION OF THE PROPERTY, INCLUDING COMMON AREAS, (4) THAT ALL ENVIRONMENTAL
CONDITIONS RELATING TO THE PROPERTY AND COMMON AREAS ARE ACCEPTABLE TO BUYER,
AND (5) THAT ALL FEES, COSTS, PERMITS AND OTHER EXPENSES AND OBLIGATIONS
ASSOCIATED WITH THE DEVELOPMENT OF THE PROPERTY, WHETHER KNOWN OR UNKNOWN, ARE
ACCEPTABLE TO BUYER. (f) HAVING BEEN GIVEN THE OPPORTUNITY TO INSPECT THE
PROPERTY AND ALL ON-SITE AND OFF-SITE IMPROVEMENTS, INCLUDING COMMON AREAS,
BUYER ACKNOWLEDGES THAT AS OF THE EXPIRATION OF THE DUE DILIGENCE PERIOD, BUYER
(1) SHALL BE THOROUGHLY ACQUAINTED WITH THE PHYSICAL CONDITION OF THE PROPERTY
AND ALL ON-SITE AND OFF-SITE IMPROVEMENTS, INCLUDING COMMON AREAS, AND (2) IS
RELYING SOLELY ON ITS OWN INVESTIGATION AND INSPECTION OF THE PROPERTY AND ALL
ON-SITE AND OFF-SITE IMPROVEMENTS, INCLUDING COMMON AREAS, AND NOT ON ANY
INFORMATION PROVIDED OR TO BE PROVIDED BY OR ON BEHALF OF SELLER OR ANY AGENT OF
SELLER. BUYER FURTHER ACKNOWLEDGES THAT NO INDEPENDENT INVESTIGATION OR
VERIFICATION HAS BEEN OR WILL BE MADE BY SELLER WITH RESPECT TO ANY INFORMATION
SUPPLIED BY OR ON BEHALF OF SELLER CONCERNING THE PROPERTY, ALL ON-SITE AND
OFF-SITE IMPROVEMENTS, INCLUDING COMMON AREAS, OR THE DOCUMENTS PROVIDED BY
SELLER, AND SELLER HAS MADE NO REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS
OF SUCH INFORMATION ITSELF. (g) BUYER ACKNOWLEDGES, UNDERSTANDS AND AGREES THAT
BUYER'S ACCEPTANCE OF THE PROVISIONS OF THIS SECTION CONSTITUTES A MATERIAL
INDUCEMENT FOR SELLER TO ENTER INTO THE TRANSACTION CONTEMPLATED BY THIS
AGREEMENT AND THAT ABSENT SUCH ACCEPTANCE, SELLER WOULD NOT ENTER INTO THIS
AGREEMENT. ANY ATTEMPT BY BUYER TO PURSUE A CLAIM BASED UPON ANY CLAIMED
REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES NOT
EXPRESSLY EMBODIED IN THIS AGREEMENT SHALL CONSTITUTE A DEFAULT BY 15

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BUYER UNDER THIS AGREEMENT. BUYER ON ITS BEHALF AND ON BEHALF OF ITS HEIRS,
SUCCESSORS AND ASSIGNS, HEREBY UNCONDITIONALLY AND FOREVER WAIVES ANY CLAIM
AGAINST SELLER OR ANY AFFILIATE OF SELLER BASED (1) UPON ANY CLAIMED
REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENT OR GUARANTIES NOT
EXPRESSLY EMBODIED IN THIS AGREEMENT, (2) ON THE CONDITION OF THE PROPERTY, OR
(3) ON THE CONDITION OF ALL ON-SITE AND OFF-SITE IMPROVEMENTS, INCLUDING,
WITHOUT LIMITATION, COMMON AREAS. (h) BUYER, AS A SOPHISTICATED BUYER, HEREBY
ACKNOWLEDGES THAT THE COST OF THE WAIVERS CONTAINED IN SECTION 8 WERE NEGOTIATED
BETWEEN THE PARTIES AND INCLUDED IN THE PURCHASE PRICE. THE PROVISIONS OF
SECTION 7 SHALL SURVIVE THE CLOSING AND SHALL BIND ANY SUCCESSOR OR ASSIGN OF
BUYER TO ANY PORTION OF THE PROPERTY. 10. Buyer and Seller Indemnification. Each
Party hereby agrees to indemnify the other Party and defend and hold it harmless
from and against any and all claims, demands, liabilities, costs, expenses,
penalties, damages and losses, including, without limitation, attorneys' fees,
resulting from (i) any misrepresentation or breach of warranty made by such
Party in Section 8 or Section 9 of this Agreement, as applicable, or in any
document, certificate, or exhibit given or delivered to the other pursuant to or
in connection with this Agreement, or (ii) post-Closing or post-termination
breach of a covenant which, by the terms hereof, survives the Closing or earlier
termination of this Agreement. 11. Possession. Possession of the Property shall
be delivered to Buyer on the Closing Date, subject to the permitted exceptions
on title. 12. Notices. Any notices which Seller or Buyer are required or desire
to give the other hereunder shall in writing and delivered personally (with
written confirmation thereof), by a reputable overnight delivery company (with
written confirmation thereof) or sent through the U.S. Mail by certified mail,
postage prepaid, to the following addresses: (a) If to Seller: c/o The Alter
Group, Ltd. 3201 Old Glenview Road, Suite 302 Wilmette, IL 60091 Attn: Randolph
Thomas Fax: (847) 676-4309 With a copy to: Lawrence M. Freedman Ash, Anos,
Freedman & Logan, L.L.C. 77 West Washington Street, Suite 1211 Chicago, IL 60602
Fax: 312.346.7487 16

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Samuel F. Gould Alter Asset Management, L.L.C. 1980 Springer Drive Lombard, IL
60148 Fax: 630.620.3606 Kerry K. Patterson Procopio, Cory, Hargreaves & Savitch
LLP 8355 E Hartford Dr #202 Scottsdale, AZ 85255 Fax: 619.788.5505 (b) If to
Buyer: Axon Enterprise Holding Company, LLC 17800 North 85th Street Scottsdale,
Arizona 85255 Fax: 480.991.0791 Attn: Doug Klint With a copy to: Snell & Wilmer
LLP One Arizona Center Phoenix, Arizona 85004 Fax: 602.382.6070 Attn: Mark Ohre
Any notice delivered personally shall be deemed delivered when received. Any
properly addressed notice given herein by certified mail, return receipt
requested, or by recognized overnight courier shall be deemed delivered on the
date on which the notice is deposited with the U.S. Postal Service or with the
recognized overnight courier. Seller and Buyer agree that any and all notices
given by either Party shall be provided simultaneously to any assignee of Buyer
or any lender to Buyer when such assignee or lender has been previously
identified in writing to the Parties along with the appropriate address for such
notices. Either Party may, at any time, change its address for the above
purposes by sending a notice to the other Party stating the change and setting
forth the new address. 13. Miscellaneous. 13.1. Captions. Captions or headings
of Sections are for convenience only and shall not be considered in construing
the meaning of the contents of such Section. 13.2. Partial Invalidity. If any
term, covenant, or condition of this Agreement or the application thereof to any
person or circumstance shall to any extent be invalid or unenforceable, the
remainder of this Agreement, or the application of such term, covenant or
condition to persons or circumstances other than those as to which it is held
invalid or unenforceable, shall 17

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[alteraxonamendedandresta018.jpg]
not be affected thereby and each term, covenant, or condition of this Agreement
shall be valid and be enforced to the fullest extent permitted by law. It is the
intention of the Parties hereto that the covenants of this Agreement are
independent of each other. 13.3. No Prior Agreements. This Agreement supersedes
and cancels all prior negotiations between the Parties. 13.4. Amendments and
Modifications. All amendments or modifications to this Agreement must be in
writing signed by the Parties. 13.5. Interpretation. The singular shall include
the plural, and the masculine or neuter shall include the other. 13.6. Real
Estate Brokers. Except for Cushman & Wakefield, NOVO Development and The Alter
Group, Ltd., all licensed real estate brokers in the State of Arizona, each of
whose commission shall be paid by Seller, each Party covenants, warrants and
represents to the other that no conversation or negotiations were had by either
with any broker, agent, subagent, salesperson or finder concerning the
acquisition of the Property. Each Party agrees to protect, indemnify, save and
keep harmless the other, against and from all liabilities, claims, losses,
costs, damages and expenses, including attorneys' fees, arising out of,
resulting from or in connection with a breach of the foregoing covenant,
warranty and representation. 13.7. Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of Arizona.
13.8. Counterparts, Facsimile or Electronic Execution. This Agreement may be
executed in one or more counterparts by the Parties and all counterparts taken
together shall constitute one and the same document. The Parties hereto agree
that: (a) counterparts may be executed by one or more Parties via use of
facsimile signatures or electronic (e-mail) signatures and the sending by one or
more Parties of signatures via Facsimile or via e-mail correspondence shall also
constitute execution and delivery of this Agreement; and (b) signature pages
from one or more counterparts may be removed from such counterparts and such
signature pages may be attached to a single instrument so that signatures of all
Parties may be physically attached to a single counterpart hereof. 13.9.
Attorneys' Fees. Should either Party institute any legal proceedings against the
other for breach of any provisions herein contained or any matter in connection
with this Agreement or any matter in connection with this Agreement, the
prevailing Party in such action shall in addition be entitled to recover its
reasonable costs and expenses from the losing Party including court costs and
its reasonable attorney fees and expert witness fees (and costs and reasonable
attorney fees on appeal). [Signature pages follow] 18

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IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement effective as
of the Effective Date. "SELLER": APEX Park at Pima, LLC, an Arizona limited
liability company By: Alter Park at Pima, L.L.C., a Delaware limited liability
company By: 18-Chai Corp., an Illinois corporation Its: M:�ger�fc:;2, Name:-
Title: --- - ---- Date: "BUYER": AXON ENTERPRISE HOLDING COMPANY, LLC, a
Delaware limited liability company By: __________ Name: Jawad Ahsan Title: Chief
Financial Officer Date: ----------- [Signature Page to Amended and Restated
Purchase and Sale Agreement]

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EXHIBIT INDEX Exhibit Title A Substitute Lease B Legal Description C Draft
Easement Agreements D Site Access and Indemnification Agreement E Site
Plan/Pre-App Plans F-1 Access Improvements F-2 Water/Sewer Improvements F-3
Electric/Gas/Telephone Improvements G Assignment of Substitute Lease

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EXHIBIT A SUBSTITUTE LEASE Form of Substitute Lease to be approved and finalized
during the Due Diligence Period and placed into Escrow by Seller and Buyer

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SUBSTITUTE LEASE IN REFERENCE TO BUSINESS LEASE B-704-____ Between CERTAIN
ALLOTTED LANDOWNERS OF LAND WITHIN THE SALT RIVER PIMA-MARICOPA INDIAN COMMUNITY
(“Lessor”) and APEX 7400 NORTH DOBSON, L.L.C., an Arizona limited liability
company (“Lessee”) 1 This Substitute Lease incorporates the provisions of that
certain business lease (Business Lease B-704) approved by the Secretary on May
30, 2003 between APEX Park at Pima, L.L.C., an Arizona limited liability company
and Certain Allotted Landowners of Land within the Salt River Pima-Maricopa
Indian Community and that certain First Amendment to Business Lease B-704
entered into and effective on November 7, 2016.

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INDEX NO. ARTICLE NAME
.............................................................................................................................
PAGE 1. Definitions.
............................................................................................................................................
1 2. Demise of Leased Premises.
.................................................................................................................
4 3. Lease Term.
...........................................................................................................................................
4 4. Permitted Uses of Leased Premises.
.....................................................................................................
4 5. Rent.
......................................................................................................................................................
5 6. Business Hours and Activity.
................................................................................................................
8 7. Improvements and Completion of Development.
.................................................................................
9 8. Substitute Lease.
...................................................................................................................................
9 9. Title to Buildings and Improvements.
...................................................................................................
9 10. Construction, Maintenance, Repair,
Alteration...............................................................................
10 11. Non-Responsibility Notices.
...........................................................................................................
10 12. Rental Bond.
...................................................................................................................................
11 13. Performance Bond.
.........................................................................................................................
11 14. Public Liability Insurance.
..............................................................................................................
12 15. Sublease, Assignment, Transfer.
.....................................................................................................
12 16. Status of Subleases.
.........................................................................................................................
15 17. Agreements for Utility Facilities.
....................................................................................................
15 18. Rights-of-Way for Streets and Utility Facilities.
............................................................................ 16
19. Encumbrance.
..................................................................................................................................
17 20. Liens, Taxes, Assessments, Utility Charges.
..................................................................................
23 21. Lessor’s Paying Claims
...................................................................................................................
23 22. Claim or Assessment of State Taxes.
..............................................................................................
24 23. Eminent Domain.
............................................................................................................................
25 24. Rezoning.
........................................................................................................................................
26 25.
Default.............................................................................................................................................
27 26. Attorney’s Fees.
..............................................................................................................................
28 27. Holding Over.
.................................................................................................................................
28 28. No Partnership.
...............................................................................................................................
28 29. Termination of Federal Trust.
.........................................................................................................
28 30. Lessee’s Obligations to the United States.
......................................................................................
28 31. Payments and Notices.
....................................................................................................................
29 32. Inspection.
.......................................................................................................................................
30 ii DOCS 125208-000003/3409232.5

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33. Delivery of Leased
Premises...........................................................................................................
30 34. Lease Binding.
................................................................................................................................
30 35. Interest of Member of Congress.
.....................................................................................................
30 36. Tax Immunity.
.................................................................................................................................
31 37. Force Majeure.
................................................................................................................................
31 38. Laws and Ordinances of the Community.
.......................................................................................
31 39. Arbitration.
......................................................................................................................................
31 40. Employment Preference.
.................................................................................................................
32 41. Validity.
..........................................................................................................................................
34 42. Indemnification.
..............................................................................................................................
34 43. Fire and Damage
Insurance.............................................................................................................
35 44. Accounting and
Audits....................................................................................................................
36 45. Plans and Designs.
..........................................................................................................................
37 46. Title Insurance; Opinion of Counsel
...............................................................................................
37 47. Power of Attorney to Spokespersons.
.............................................................................................
39 48. Covenants, Conditions and Restrictions
.........................................................................................
41 49. Quiet Enjoyment.
............................................................................................................................
41 50. Severability.
....................................................................................................................................
42 51. Multiple Counterparts.
....................................................................................................................
42 52. Companies Bonding and Insuring.
..................................................................................................
42 53. Compliance with Arizona Subdivision Requirements.
................................................................... 43 54.
Estoppel Certificates.
......................................................................................................................
43 55. Environmental Protection Requirements
........................................................................................
43 56. Confidentiality.
...............................................................................................................................
49 57. Short Form of Lease.
.......................................................................................................................
49 SCHEDULE OF EXHIBITS A Schedule of Landowners B Legal Description of Original
Leased Premises C Legal Description of Premises C-1 Preliminary Site Plan of
Premises D Approval of Secretary E Declaration and Grant of Easements F Sublease
Addendum G Spokespersons H Council Resolution SR-2234-2003 iii

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SUBSTITUTE BUSINESS LEASE B-704 THIS SUBSTITUTE BUSINESS LEASE B-704 (this
“Lease”) is made and entered into this ___ day of ____________, 20___, by and
between CERTAIN ALLOTTED LANDOWNERS OF LAND WITHIN THE SALT RIVER PIMA-MARICOPA
INDIAN COMMUNITY identified on Exhibit A attached hereto, hereinafter
collectively called the “Lessor,” whose address is 10005 East Osborn Road,
Scottsdale, Arizona 85256 and, APEX 7400 NORTH DOBSON, L.L.C., an Arizona
limited liability company, hereinafter called the “Lessee,” under the provisions
of the Act of November 2,1966 (80 Stat. 1112), as amended (25 U.S.C. § 416, et
seq.), as supplemented by Part 162, et seq., Leases and Permits, of the Code of
Federal Regulations, Title 25 - Indians, and any amendments thereto relative to
business leases on restricted Indian lands, all of which by reference are made a
part hereof. This Lease amends and restated that certain business lease
(Business Lease B-704) approved by the Secretary on May 30, 2003 between APEX
Park at Pima, L.L.C., an Arizona limited liability company and Certain Allotted
Landowners of Land within the Salt River Pima-Maricopa Indian Community, as
amended by that certain First Amendment to Business Lease B-704 entered into and
effective on November 7, 2016. Lessee intends to assign this Lease to Axon
Enterprise Holding Company, LLC, a Delaware limited liability company (“Axon”)
after Secretary approval of this Lease, the Axon Assignment (as defined in that
certain Purchase and Sale Agreement dated December 11, 2018, the “PSA”) and
satisfaction of all the PSA’s closing conditions. This Lease will be effective
on the Closing Date (as defined in the PSA) and only after Secretary approves
both this Lease and the Assignment. 1. Definitions. For the purpose of this
Lease, the following terms shall have the meanings set forth below: A. Approved
Encumbrance. A mortgage, deed of trust, lien or other security interest in or
against Lessee’s interest in the Leased Premises meeting the requirements of
Article 19 below, and which has been approved by the Lessor, the Community and
the Secretary. B. Approved Encumbrance. The holder of an Approved Encumbrance.
C. Approved Sublease or Sublease. A sublease of all or any part of the Leased
Premises meeting the requirements of Article 15A or 15A(1) below. D. Base Index:
As defined in Section 5.3 (as adjusted and deemed amended from time to time). E.
Basic Rent. As provided in Article 5(a) below.

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F. Commercial Buildings. Business offices, professional offices, Axon’s
Headquarters, eating, retail and service establishments; hotel; entertainment,
light manufacturing and warehouse facilities, and commercial recreation
facilities; amphitheater, convention and reception facilities; theaters and
schools. G. Certificate of Occupancy. A certificate of occupancy, temporary
certificate of occupancy or certificate of completion of the Headquarters issued
by the Community department authorized to issue such permits to Lessee,
Developer Sublessee or a Sublessee. H. Community. The Salt River Pima-Maricopa
Indian Community, a federally recognized Indian tribe. I. Covenants, Conditions
and Restrictions or CC&R’s. As described in Article 48 below, including, without
limitation, the that certain Amended and Restated Declaration of Covenants,
Conditions, Restrictions and Easements for Riverwalk executed by Declarant and
7350 LLC June 10, 2008, recorded on July 15, 2008 as instrument no. 20080616403
in the Official Records of the Maricopa County Recorder, and which was duly
amended by that certain First Amendment to Amended and Restated Declaration of
Covenants, Conditions, Restrictions and Easements for Riverwalk on August 25,
2013, recorded on September 17, 2013 as instrument no. 20130832529 in the
Official Records of the Maricopa County Recorder, and was further amended by
that certain Second Amendment to Amended and Restated Declaration of Covenants,
Conditions, Restrictions and Easements for Riverwalk on October 30, 2017, which
was recorded on April 19, 2018 as instrument no. 20180295812 in the Official
Records of the Maricopa County Recorder and that certain Second Amended and
Restated Declaration of Covenants, Conditions, Restrictions and Easements for
Riverwalk recorded on September 14, 2018 as instrument no. 20180693825 in the
Official Records of the Maricopa County Recorder, and as may be amended in the
future (collectively “Amended Declaration”). J. Developer Sublessee. A Sublessee
of a portion of the Leased Premises that, pursuant to its Sublease, constructs
one (1) or more Commercial Buildings. K. Governmental Authority. Any
governmental or quasi-governmental entity, regardless of how constituted, having
or claiming jurisdiction over the Leased Premises or any portion thereof, or
over the design, planning, construction, use, operation, maintenance or
occupancy of all or any portion of the Leased Premises. 2

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L. Headquarters. Means all improvements built on the Leased Premises, including,
without limitation, Axon’s headquarters consisting of an approximate 325,000
square foot Axon corporate headquarters building, containing corporate office
space, light assembly manufacturing, warehouse space, public space, and other
related Buildings and amenities, driveways, sidewalks, parking structures, lots
and areas. M. Lease. This Substitute Lease in Reference to Business Lease B-704,
as may be amended. N. Lease Term. As provided in Article 3 below. O. Lease Year.
Each period of twelve (12) consecutive months, commencing on, each January 1 and
ending on the next succeeding December 31, except that the first Lease Year
shall begin when the Lease Term shall commence and shall end at midnight on the
next succeeding December 31 which is at least twelve (12) months after the date
on which the Lease Term shall commence, in which event the first Lease Year may
consist of more than twelve (12) months. P. Leased Premises or Premises. That
certain real property located in Maricopa County, Arizona, and legally described
on Exhibit C attached hereto, together with a right of ingress and egress
thereto and the access and utility easements, as described in the Declaration
and Grant of Easements attached hereto as Exhibit E, and all other easements,
rights-of-way, privileges, licenses, appurtenances, water and well rights and
other rights and benefits belonging to, running with or in any way related to
such real property, the Leased Premises and all of the improvements now or
hereafter located thereon or on the Leased Premises. Q. Legal Requirements. All
statutes, laws, rules, orders, regulations, ordinances, judgments, decrees and
injunctions of federal and Tribal governmental entities and other governmental
entities having jurisdiction affecting either the Leased Premises or the
construction, use, occupancy, repair, renovation, replacement or alteration
thereto, whether now or hereafter enacted and enforced, including any of the
same which may (i) require repairs, modifications or alterations in or to any
portion of the Leased Premises; or (ii) in any way limit, restrict or impose
conditions upon the use and authorizations and regulations relating to the
Leased Premises, and all covenants, agreements, restrictions and encumbrances
contained in any instruments, either of record or known to Lessee (other than
encumbrances created by Lessor without the consent of Lessee), at any time in
force or effect pertaining to the Leased Premises or any portion thereof or
interest therein. 3

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R. Lessee. APEX 7400 NORTH DOBSON, L.L.C., an Arizona limited liability company.
S. Lessor. Those certain allotted landowners of land within the Salt River Pima-
Maricopa Indian Community identified on Exhibit A attached hereto. T. Original
Leased Premises. That certain real property located in Maricopa County, Arizona,
and legally described on Exhibit _B attached hereto, together with a right of
ingress and egress thereto and all easements, rights-of-way, privileges,
licenses, appurtenances, water and well rights and other rights and benefits
belonging to, running with or in any way related to such real property and all
of the improvements now or hereafter located thereon. U. Person. An individual,
corporation, limited liability company (“L.L.C.”), partnership, joint venture,
association, firm, joint stock company, trust, unincorporated association or
other legal entity. V. Preapproved Transferee: Any one or more of the following
entities: Axon Enterprise Holding Company, LLC, a Delaware limited liability
company; and/or Axon Enterprise OFA Holding Company, LLC, a Delaware limited
liability company. W. Prepaid Rent Amount: $10,914,408. [Note: 28.57 Acres of
Leased Premises at $382,024 per acre] X. Price Index: The consumer price index
compiled and published by the United States Department of Labor, Bureau of Labor
Statistics, designated Consumer Price Index - U.S. City Average All Urban
Consumers (CPI-U) 1982 to 1984 = 100, all items, or, if said consumer price
index ceases to be published and there is no successor index, a reasonably
equivalent index published by an authoritative third party that SRPMIC
reasonably designates. The Price Index for any date means the Price Index last
published before the calendar month that includes such date. Y. Prime Rate. The
rate of interest regularly published in the Wall Street Journal, Section “C”
under “Money Rates”, as the “Prime Rate” and defined therein as the base rate on
corporate loans posted by at least seventy-five (75%) of the nation’s thirty
(30) largest banks. Z. Removable Personal Property. All personal property, of
every kind and nature, belonging to Lessee or any Sublessee, excluding, however,
property which normally would be attached or affixed to the buildings,
improvements or the Leased Premises in such a manner that such property 4

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would become a part of the realty, regardless of whether such property is in
fact so placed in or on or affixed to the buildings, improvements or the Leased
Premises. AA. Rent. All rent payable under Article 5 hereof. BB. Rental Bond. As
provided in Article 12 below. CC. Required Consent. Any governmental approval or
other consent, license, grant, authorization or agreement from any Governmental
Authority or any public or private provider of public utility services, the
procurement or maintenance of which may reasonably be necessary, desirable or
appropriate as a condition or prerequisite to the proper development,
improvement, use, occupancy or operation of all or any portion of the Leased
Premises in accordance with the provisions of this Lease. DD. Secretary. The
Secretary of the Interior, United States Department of the Interior or his or
her authorized representative. AA. Sublessee. A lessee of all or any portion of
the Leased Premises pursuant to an Approved Sublease. AB. Substitute Lease. As
described in Article 8 below. AC. Superintendent. The Superintendent, Field
Administrator, Coordinator or other officer in charge of the Salt River Agency,
Bureau of Indian Affairs. 2. Demise of Leased Premises. For and in consideration
of the Rents and Agreements hereinafter set forth, the Lessor hereby leases the
Leased Premises to the Lessee, and the Lessee hereby leases and accepts the
Leased Premises from Lessor. 3. Lease Term. The Lease Term shall expire on May
29, 2103. 4. Permitted Uses of Leased Premises. The purpose of this Lease is to
bring about the commercial development of the Leased Premises. The development
and use of the Leased Premises will be consistent with the plan of development
provided in this Lease, the permitted uses described herein and with the zoning
ordinances of the 5

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Community. The permitted uses are: Commercial Buildings and such other uses as
are normally or reasonably incidental to the foregoing uses. The Lessee shall
develop all of the structures on the Leased Premises except that Lessee may,
with the approvals required pursuant to Article 15 of this Lease, sublease
portions of the Leased Premises which have been improved with offsite
improvements to a user Sublessee for the development of any of the permitted
uses. Any Sublessee under this Lease will be responsible for the development of
such subleased portions of the Leased Premises in accordance with this Lease and
with the zoning and other development and planning ordinances of the Community.
If the Lessee or any Sublessee uses the Leased Premises for any use inconsistent
with the provisions of this Article 4 without the prior written permission of
the Lessor and the Community, such misuse shall constitute a default and a
breach of this Lease. Lessee agrees not to use or cause to be used any part of
the Leased Premises for any unlawful conduct or purpose. Lessee further
covenants and agrees that it will not commit or permit on the Leased Premises
any act that causes waste or a nuisance or which create a hazard to health of
persons or to property wherever such persons or property may be. 5. Rent. All
monies payable under this Lease as Rent or otherwise shall be payable to the
Community which shall receive all payments for and on behalf of Lessor, each of
whom hereby acknowledge that such payment shall constitute payment in fact and
each of whom hereby irrevocably, for the Lease Term, designates the Community as
its agent and attorney-in-fact for the receipt of such payments. Lessor agrees
that no enforcement action or default against Lessee shall be made by or on
behalf of Lessor in the event the Community fails to pay any sum due to Lessor
herein, where such sums have been tendered to the Community in accordance with
the provisions of this Article 5. The rent as set forth below shall be deemed
“Rent”: (a) Prepaid Rent Amount on the earlier of the Third Anniversary of the
Secretary Approval, or issuance of Certificate of Occupancy. Not later than 30
days after the earlier of (i) the issuance of a Certificate of Occupancy by the
Community for Axon’s Headquarters on the Leased Premises or (ii) the third
anniversary of the Secretary approval of this Lease, the Lessee will pay a
onetime rent prepayment in the amount of the Prepaid Rent Amount to Lessor
representing the present value of rent for the remainder of the term of this
Lease. This onetime payment of the Prepaid Rent Amount represents all rent and
other charges that would have otherwise been paid by Lessee to Lessor during the
term of this Lease and subsequently distributed by the Community to the Lessor.
Upon Lessee’s payment of the Prepaid Rent Amount and Community’s 6

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distribution to Lessor, no additional payments, rents, fees, or charges will be
paid by Lessee and Lessor will receive no additional distributions during the
remaining term of this Lease. In addition, and notwithstanding any terms to the
contrary in this Lease, the Lessee will not be required to obtain the required
approvals or consents from the Lessor or their Spokespersons under Sections
1(A), 1(C), 4, 8, 10, 15, 19 and 45, any time after the date the Prepaid Rent
Amount is paid. (b) Timely Payment. All Rent shall be paid without prior notice
or demand on or before the fifteenth (15th) day of each calendar month. Past due
Rent shall bear interest at the Prime Rate plus five (5) percentage points from
the date due until paid, but this provision shall not be construed to relieve
Lessee from its obligation to make timely Rent payments, nor of the operation of
the provisions of this Lease relating to default. In addition to the Rent
payments due under Article 5 of this Lease, Lessee shall pay to the Treasurer of
the Community a sum equal to the actual amount expended in the receipt, handling
and distribution of Rent to the Lessor. The Treasurer will send a statement for
that amount to the Lessee and the Lessee will pay the amount of the statement
within ten (10) days of its receipt. In the event that Lessee disputes the
statement, the Treasurer and the Lessee will meet within ten (10) days after
Lessee gives notice to the Treasurer of the dispute and seek to resolve the
dispute. (c) Alternate Payment Provision. The provisions of this Article 5
notwithstanding, in the event of the death of any of the allotted landowners
comprising the Lessor during the Lease Term and while the Leased Premises are in
trust or restricted status, all Rent remaining due or payable to the decedent or
his representative under the provisions of this Lease shall be paid to the
official of the Bureau of Indian Affairs having jurisdiction over the Leased
Premises. The Lessee’s obligation under this Article 5 shall commence upon
written notice from the Community to Lessee of the identity of the deceased
landowner and his or her percentage interest in the Rent payment. 7

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6. Business Hours and Activity. Lessee agrees that subject to damage or
destruction, that at all times during this Lease, it will keep the Leased
Premises actively used. All businesses shall be conducted during the regular and
customary hours of such business and on all business days in good faith. 7.
Improvements and Completion of Development. All buildings and improvements
developed on the Leased Premises shall be constructed in accordance with
applicable legal requirements. Lessee shall use best efforts to develop the
Leased Premises consistent with market conditions. 8. Substitute Lease and
Amendments. It is further agreed that (i) upon completion of the development of
the premises, or (ii) consistent with needs incident to debt and/or equity
financing, or (iii) to facilitate development of the Leased Premises, Lessee
shall be entitled to any reasonable subdivisions of the Leased Premises, and a
separate Lease containing all of the applicable terms and provisions of this
Lease (a “Substitute Lease”) shall be executed by the parties hereto covering
only such parcel or subdivision of the Leased Premises, and this Lease shall
then terminate with respect to such parcel or subdivision and be superseded by
the terms of such Substitute Lease. The respective priority positions of the
Lessor, Lessee and any Approved Encumbrancer shall be identified and preserved
in the same manner as prior to the execution of such Substitute Lease. 9. Title
to Buildings and Improvements. All buildings and improvements that may be placed
upon, installed in or attached to the Leased Premises by Lessee or Sublessee
shall be the property of and assets of Lessor during the Lease Term. Lessee
shall, during the Lease Term, be solely entitled to any rights or benefits
associated with such buildings and improvements including, but not limited to,
any depreciation, investment tax credits or other tax benefits, and such
buildings and improvements are not made in lieu of Rent. Notwithstanding the
foregoing, the Lessor shall have the right to require Lessee to remove any or
all of the buildings or improvements on the Leased Premises at the termination
of the Lease. If so notified, Lessee, at the Lessee’s sole cost and expense,
shall remove said buildings or improvements within six (6) months thereafter,
and shall restore that portion of the Leased Premises as nearly as possible to
the condition existing at the time this Lease commenced. 8

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10. Construction, Maintenance, Repair, Alteration. All improvements placed on
the Leased Premises shall be constructed in a good and workmanlike manner and in
compliance with all Legal Requirements. All parts of buildings exposed to
perimeter properties shall present a pleasant appearance and all service areas
shall be screened from public view. The Lessee shall have the right at any time
during the Lease Term to make limited alterations, additions or repairs to any
improvement on the Leased Premises in an amount not to exceed Two Hundred Fifty
Thousand and No/100 Dollars $250,000 per acre (“Material Improvements”), on the
exterior of any single building or improvement during any Lease Year. Such sum
shall be subject to adjustment in accordance with changes in the Price Index.
Except as set forth in Article 43 below, removal or demolition of any
improvements, alterations, additions or repairs to any improvements in excess of
the above Material Improvements amount shall not be made without the prior
consent of the Lessor and the Community and the approval of the Secretary, which
consent and approval shall not be unreasonably withheld or delayed. Lessee shall
prepare and submit its plans for removal or demolition of improvements or
alterations, additions or repairs to any improvements in excess of the above
amount to the Lessor, the Community and the Secretary in writing. Unless earlier
approved, or rejected in writing, such plans shall be deemed approved thirty
(30) days following submission. Lessee shall, at all times during the term of
this Lease and at the Lessee’s sole cost and expense, maintain the Leased
Premises and all improvements thereon in good order and repair and in a neat,
sanitary and attractive condition and in compliance with all Legal Requirements.
11. Reserved. 12. Rental Bond. The Lessor agrees to waive the requirement for a
rental bond. The Lessor and Secretary may later reinstate the requirement of the
Rental Bond and Lessee hereby agrees to comply with said requirement. Within one
hundred fifty (150) days after reinstatement of the rental bond requirement, the
Lessee shall post a bond (the “Rental Bond”) in a form satisfactory to the
Community, Lessor and Secretary in a penal sum of not less than the aggregate of
the second year’s Basic Rent which bond shall be deposited with the Secretary.
The Rental Bond shall be maintained at all times (except after the Prepaid Rent
Amount is paid in full to Lessor) in an amount not less than the sum of the
Basic Rent payments to become due and payable during the ensuing twelve (12)
calendar months of the Lease, unless and until the requirement for the Rental
Bond is waived by the Lessor, the Community and the Secretary. Should Lessee
fail to post the Rental Bond within the specified one hundred fifty (150) day
period, or thereafter fail to maintain the Rental bond, Lessee shall be deemed
to be in default. Lessee may furnish a 9

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corporate surety bond, or in lieu thereof, may deposit with the Secretary cash
or negotiable United States Treasury Bonds or other negotiable Treasury
obligations in the appropriate amount, together with a power of attorney,
empowering the Secretary, in the event of Lessee’s default in any of the
provisions of Article 5 above to pay over such cash, or to dispose of any such
bonds and pay over the proceeds derived therefrom, to or for the benefit of the
Lessor, subject to Lessee’s privilege of curing said default as hereinafter
provided. Any other type of security which may be offered by Lessee to satisfy
the requirements of this Article 12 will be given reasonable consideration by
the Lessor and the Secretary, and it is agreed that acceptance of security in
lieu of those described above shall not be unreasonably withheld or delayed. It
is agreed that the Rental Bond required by this Article 12 shall guarantee
payment of Basic Rent only and that any corporate surety bond shall be in
continuous form and may be subject to the provisions that the surety may
terminate the rental Bond thirty (30) days subsequent to the then next ensuing
anniversary date of this Lease by giving at least forty-five (45) days written
notice to the Lessor and the Secretary. If U.S. Treasury Bonds are provided,
Lessee agrees to make up any deficiency between the value of the Treasury Bonds
and the required Rental Bond. Interest on the Treasury Bonds shall be paid to
Lessee. 13. Performance Bond. The parties agree that it is in the best interests
of the Lessor and Lessee to waive the requirement for a performance bond,
provided that the waiver may be rescinded and the requirement for a performance
bond may be reinstated in accordance with 25 CFR 162.434 or its successor, in
the Lessor’s sole and absolute discretion by act of the Spokespersons under
Article 47. 14. Public Liability Insurance. At all times during the Lease Term,
Lessee shall carry a public liability insurance policy with coverages of not
less than Five Million, Five Hundred Thousand and No/100 Dollars
($5,500,000.00), combined single limit coverage, per occurrence. Five Hundred
Thousand and No/100 Dollars ($500,000.00) of this coverage shall be in the form
of primary coverage and the remaining Five Million and No/100 Dollars
($5,000,000.00) shall be pursuant to an umbrella liability insurance policy of
not less than Five Million and No/100 Dollars ($5,000,000.00), combined single
limit, per occurrence. Upon the issuance of the certificate of occupancy for a
hotel, Lessee shall increase the liability coverage of the umbrella liability
insurance policy to Ten Million and No/100 Dollars ($10,000,000.00), combined
single limit, per occurrence. All policies shall be written to protect both
Lessee and Lessor. Evidence of the foregoing reasonably acceptable to the
Secretary shall be furnished to the Secretary. 10

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15. Sublease, Assignment, Transfer. A. Sublease. This Lessee shall not, except
as expressly authorized herein, sublease all or any part of the Leased Premises,
without the approval of the Community, the Secretary and the Lessor, which
approval will not be unreasonably withheld or delayed. No Sublease shall be
valid or binding without the approval of the Community, the Secretary and the
Lessor, and then only upon the condition that each Sublessee has agreed in
writing that, in the event of conflict between the provisions of this Lease and
of its Sublease, the provisions of this Lease shall govern. The Lessor, the
Secretary and the Community shall either approve or state with reasonable
specificity their reasons for disapproval of a proposed Sublease within thirty
(30) days after the proposed sublease is submitted for approval. The failure of
the Lessor, the Secretary and Community to so act within the thirty (30) day
period provided for in this Article 15A shall constitute approval of the
proposed Sublease by the Lessor, the Secretary and Community. Any Sublease made
except as aforesaid shall be deemed a breach of this Lease. (1) Short Term
Subleases. For Subleases not exceeding ten (10) years, prior to offering
commercial, retail or office space within the Commercial Buildings for Sublease,
Lessee shall submit to the Community and the Lessor, for approval, proposed
schedules of Sublease rent, which shall show minimums, but not maximum rents,
proposed to be charged to Sublessees. In conjunction with the submission of the
schedules of rent, Lessee shall also submit to the Lessor and the Community, for
approval, proposed sublease forms and an assignment of Sublease form for use in
subleasing such commercial, retail or office space within the Commercial
Building Approval of the within described forms and schedules of rents by the
Lessor and the Community shall constitute approval of all Subleases of such
commercial or office space and assignments of said Subleases entered into by the
Lessee pursuant to this Lease which are consistent with such schedule and are on
said forms Five (5) copies of such Sublease and assignment forms shall be
furnished to the Lessor and the Community. The Sublease form shall provide that
the Sublessee shall be subject to and bound by each and all of the conditions of
this Lease. No such subletting shall affect any of the obligations or
liabilities of the Lessee hereunder. The term, including any option period, of
Subleases on the preapproved forms as described in this Article 15A(1) shall not
exceed ten (10) years. The Lessor and the Community .may, on an annual basis,
request the Lessee to submit revised schedules of Sublease rent and such
Sublease rents may be adjusted with the written consent and agreement of the
Lessee and Lessor. Such adjusted Sublease rents shall become effective as the
then existing Subleases are terminated or expire. Notwithstanding any provision
in this Lease to the contrary, any portion of the Leased Premises may be
subleased after Lessor receives the Prepaid Rent Amount without the need for the
consent of the Lessor 11

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and without the need for the approval of the Secretary or the Community if (1)
the Sublease does not relieve Lessee of any liability, (2) Lessee provides the
Spokespersons , the Community and the Secretary with a copy of the Sublease
within 30 days after it is executed, (3) there is incorporated into the Sublease
an addendum in the form attached hereto as Exhibit F or other form approved by
the Community. B. Assignment or Transfer. The Lessee shall not assign or
transfer all or any part of its interest in this Lease without the written
approval of the Lessor, the Community, the Secretary and Approved Encumbrancers,
which approval shall not be unreasonably withheld or delayed. This Article 15B
shall not, however, restrict transfers of ownership within Lessee’s entity,
except as restricted in Article 15C below. No such assignment or transfer shall
be valid or binding without such approval, and then only upon the condition that
the assignee or other successor in interest, excepting an Approved Encumbrancer,
shall agree in writing to be bound by each and all of the covenants and
conditions of this Lease. Any such assignment or transfer not, complying with
the provisions of this, Article 15B shall be deemed a breach of this Lease. The
Lessor, the Community and the Secretary shall either approve or state, with
reasonable specificity, their reasons for disapproval of any proposed assignment
or transfer within sixty (60) days after it is submitted for approval. Lessor,
the Community and the Secretary shall not withhold approval to an assignment or
transfer by any successor to the Lessee of all or any part of its interest in
this Lease to a “Qualified Transferee”. Upon an assignment or transfer by any
successor to the Lessee of all or any part of its interest in this Lease to a
Qualified Transferee and an assumption by the Qualified Transferee of the
portions of this Lease so assigned or transferred, such successor to the Lessee
shall be released from any liability accruing thereafter with respect to the
portion of the Lease so assigned or transferred. For the purposes of this
Article 15B, a Qualified Transferee means a Person (a) having a net worth,
calculated in accordance with generally accepted accounting principles,
consistently applied, of not less than five (5) times the Rent, if any, paid by
lessee to Lessor during the immediately preceding twelve (12) months of the
Lease Term, and (b) either (i) a Person having at least seven (7) years’
experience in the ownership and/or operation of commercial real estate projects,
or (ii) a Person whose senior management has, in the aggregate, not less than
ten (10) years’ experience in the ownership and/or operation of commercial real
estate, or (iii) a Person who has engaged a property management company
satisfying the requirements of clauses (i) or (ii), and (c) either (i) a Person
who currently owns and operates at least one real estate project of comparable
size as the project then developed on the Leased premises, or (ii) a Person who
operates at least one project of at least one-half (1/2) the size of the project
then developed on the Leased Premises and all of whose projects are at least
three (3) times the size of the project then developed on the Leased Premises,
or (iii) a Person who has engaged a property management company that satisfies
the 12

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requirements of clauses (i) and (ii). In the event the Qualified Transferee is a
single-purpose entity, in determining whether the Qualified Transferee satisfies
the requirements set forth in clauses (b) and (c) above, the ownership and
experience of affiliated entities may be considered. C. Assignment by Transfer
of Interest. For the purposes of this Article 15, the sale, assignment, transfer
or other disposition of any of the issued and outstanding capital stock of
Lessee, or of the interest of any general partner or joint venturer or syndicate
member or cotenant, if Lessee is a partnership, limited liability company, joint
venture, syndicate or cotenancy, which shall result in changing the control of
Lessee, shall be construed as an assignment of this Lease requiring the approval
of the Secretary, the Lessor and the Community. Control, for the purposes of
this Article, shall mean more than fifty percent (50%) of the voting power of
the corporation, or more than fifty percent (50%) of the ownership of a
partnership, limited liability company, joint venture, syndicate or cotenancy,
except for limited partnerships, in which case a change in ownership of more
than fifty percent (50%) of general partnership interest shall constitute a
change in control of the limited partnership. Limited partnership interests
shall be alienable without restriction. Upon a transfer of less than a
controlling interest in Lessee, the identity of the transferee shall be provided
to the Lessor, the Community and the Secretary. Notwithstanding the foregoing,
no notice shall be required, and there shall not be deemed to be an assignment
or transfer pursuant to this Section 15(C), in the event of (1) if Lessee is an
individual, devolution by will or otherwise upon death, (2) a transfer to (x) a
member or members of the Lessee’s family (or to a trust for their benefit) if
Lessee is an individual, or (y) any stockholder, partner, member, joint
venturer, or other owner of Lessee, or (z) any co-tenant of Lessee, (3) if
Lessee is an individual, a transfer to a personal representative upon Lessee’s
death or incompetence or (4) any Preapproved Transferee. Any transfers set forth
in these Subsections 15(C) (1), (2), (3) and (4) shall not require the approval
of Lessor, SRPMIC or Secretary. D. Affiliate Assignment. Notwithstanding Section
15, an Affiliate Assignment shall not require the approval or consent of Lessor,
SRPMIC or the Secretary. An “Affiliate Assignment” shall mean an assignment of
all or any part of Lessee’s interest in this Lease to a Person directly or
indirectly controlling, controlled by, or under common control with Lessee. Upon
any Affiliate Assignment, Lessee shall deliver written notice to Lessor and
SRPMIC identifying the assignee. E. Publicly Traded Corporations. The provisions
of Sections 15 shall not apply to a corporation, partnership, trust or other
entity publicly traded on a nationally recognized stock exchange or traded over
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Quotation System (NASDAQ) or a successor system (collectively, a “PTC Entity”)
and any ownership transfers (including any changes in control) or assignments by
PTC Entities shall not require the approval of Lessor, SRPMIC or Secretary. Upon
any Assignment by Lessee (as a PTC Entity), Lessee shall deliver written notice
to Lessor and SRPMIC identifying the assignee. F. Assignment After Payment of
Prepaid Rent. Notwithstanding any provision in this Lease to the contrary, any
portion of the Leased Premises may be assigned after Lessor receives the Prepaid
Rent Amount without the need for the consent of the Lessor if (1) the Assignment
does not relieve Lessee of any liability, and (2) Lessee provides the
Spokespersons with a copy of the Assignment within 30 days after it is executed.
16. Status of Subleases. Termination of this Lease, by cancellation or otherwise
shall not serve to cancel Approved Subleases and/or subtenancies, but shall
operate as an assignment to Lessor of any and all such Subleases and/or
subtenancies. Provided that a Sublessee is not in default under the terms of its
Sublease, Lessor shall honor such Sublease and shall not disturb the tenancy of
such Sublessee. If Lessee shall so request, within forty-five (45) days after
receipt of such request, the Lessor, the Community and the Secretary shall
execute, acknowledge and deliver to a Sublessee, one or more non-disturbance
agreements, in a form reasonably satisfactory to such Sublessee, whereby Lessor,
the Community and the Secretary expressly agree that, notwithstanding any
default by Lessee hereunder, or any termination or alteration of this Lease, the
Lessor, the Community and the Secretary shall honor and acknowledge the
continuing validity of such Sublessee’s Sublease. Any Sublessee may assign its
Sublease or sub-let its premises for a term not to exceed the term of the
original Sublease, together with options, if any, without the requirement of
approval of the Lessor, the Community or the Secretary. 17. Agreements for
Utility Facilities. The Community reserves the right to provide to the Lessee,
either through its own resources or by contract with other governmental or
private entities, utility services, including, but not by way of limitation,
gas, water, electric, telecommunications, television, solid waste removal and
sewer facilities, at appropriate rates and charges; provided however, that such
utility services shall be of a quality, capacity and at substantially similar
rates as would be available to Lessee within the political boundaries of the
City of Scottsdale. In the event Lessee has, at its expense, constructed utility
facilities or is in the process of constructing such facilities, the Community
will not provide service within the Leased Premises without first purchasing
those facilities from the Lessee at a cash price which is equal to the “straight
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line” depreciated value thereof. Except as otherwise limited herein, the
Community shall have the absolute right to purchase such utility facilities for
the purpose of interconnecting such facilities with an existing Community
utility system. Lessor, the Community and the Secretary hereby grant to Lessee
the right to install and operate utility services, including sewer, water,
electric, gas, telecommunications and television, etcetera, in the event the
Community is unable to provide such utility services within the time frame
necessary to meet Lessee’s timetable for development of the Leased Premises, or
if the Community is unable to provide such utility services at a quality,
capacity and at substantially similar rates as would be available to the Lessee
within the political boundaries of the City of Scottsdale. In the event that
such utility improvements constructed by Lessee or a Developer Sublessee are
purchased by the Community, the capacity of such utilities to serve the
additional developments on the Leased Premises planned by Lessee and any
Developer sublessee shall be computed. That capacity, together with the capacity
being used by Lessee and any Developer Sublessee at the time of the acquisition
by the Community, shall remain available to Lessee and any Developer Sublessee
for uses on the Leased Premises. The Lessor and the Secretary shall cooperate
with Lessee to the end that such agreements may be consummated and further agree
to grant rights-of-way and/or easements for the completion of such utilities, in
accordance with and subject to the terms of this Lease. The Lessee shall furnish
to the Community, the Lessor and the Secretary executed copies of any proposed
agreement together with a plat or diagram showing the true location of the
utility lines to be constructed in accordance with such proposed agreement.
Lessee shall not enter into such proposed agreement until the Community Council
approves the proposed location of the utility facilities to be constructed,
which approval shall not be unreasonably withheld or delayed. The proposed
location of utility facilities may be approved contemporaneously with or prior
to the approval of this Lease. A copy of the executed agreement shall be
furnished to the Community, the Lessor and the Secretary, together with the
final plat or diagram of the utility installation. If sewer and water facilities
are not immediately and readily available for use in developing the Leased
Premises either from public utility companies, other third parties or the
Community, Lessee shall have the right to use temporary facilities such as
septic tanks and other procedures, subject to the approval of the Community,
which approval will not be unreasonably or arbitrarily withheld or delayed. The
Lessee and their Sublessees may employ unarmed security personnel to patrol
their leasehold premises as may be required by their business operations. 18.
Rights-of-Way for Streets and Utility Facilities. Lessor hereby consents to the
granting of rights-of-way for streets and utility facilities necessary to the
full enjoyment of the Original Leased Premises, Axon’s Headquarters and
development thereof; according to the plans approved by Lessor and the Community
in accordance with the provisions of 15

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Article 45 below. While it is intended that this provision shall be
self-operative, Lessor agrees to execute, acknowledge and deliver to Lessee such
instruments or documents reasonably necessary to effectuate, acknowledge and
deliver to Lessee such instruments or documents reasonably necessary to
effectuate the provisions of this Article 18. Such right-of-way are subject to
grant by the Secretary in accordance with the approved general development plan
and pursuant to the Act of February 5, 1948 (62 Stat. 17), and any amendments
thereto as supplemented by regulations of the Secretary applicable thereto. Such
grants of rights-of-way are subject to the approval of the Community Council
which approval shall not be unreasonably withheld or delayed. 19. Encumbrance.
A. The Lessee, from time to time during the Lease Term, may make one or more
Approved Encumbrances upon Lessee’s leasehold interest in this Lease, or any
part thereof, or any of the improvements on the Leased Premises by mortgage to
any person, firm, corporation or other entity or combination thereof, and assign
this Lease, or any part or parts thereof, as collateral security therefor
provided that: (1) The Lessee or the holder of the Approved Encumbrance shall
promptly deliver to the Lessor in the manner herein provided for the giving of
notice to the Lessor, a true copy of the Approved Encumbrance and of any
assignment thereof, and shall notify the Lessor of the Address to which notices
may be sent; (2) An Approved Encumbrance shall be utilized for the development
and improvement of the Leased Premises in such amount as the Lessee determines
to be appropriate and the Secretary may approve, or to secure such other
obligations as the Community and the Secretary may approve; (3) No Approved
Encumbrance shall extend to or affect the reversionary interest and estate of
Lessor in and to the Leased Premises, or in any way attach to or affect the
Leased premises from and after any expiration or termination of this Lease; (4)
An Approved Encumbrance shall provide that any notice of default thereunder
shall be delivered to Lessor, as well as to Lessee, and that Lessor shall have
the right to cure such default if the Lessee fails to do so. Lessor shall have
the same time period as is available to the Lessee within which to cure a
default, which time period will not commence until the expiration of the time
period available to Lessee. Neither Lessor’s right to cure a default nor
Lessor’s exercise of such right shall be deemed to be an assumption by Lessor of
liability under the Approved Encumbrance; and 16

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(5) From and after receiving notice of the existence of an Approved Encumbrance,
Lessor and Lessee shall not mutually agree to cancel, surrender, modify or amend
this Lease in any respect without the prior written consent of the Approved
Encumbrancer. B. With respect to any Approved Encumbrance made in accordance
with the provisions of this Article 19, and until the time, if any, that said
mortgage shall be satisfied of record or said Approved Encumbrancer shall give
to Lessor written notice that said mortgage has been satisfied, the following
provisions shall apply: (1) For the purposes of this Article 19, and throughout
this Lease, the term “Approved Encumbrance” shall mean a mortgage on Lessee’s
interest in this Lease, which shall be deemed to include a deed of trust and
such other types of security instruments as are commonly given to secure loans
or advances on, the unpaid purchase price of leasehold estates and the
construction and permanent financing and refinancing of improvements under the
laws of the State of Arizona and the note or other credit instrument secured
thereby. (2) For the purposes of this Article 19, and throughout this Lease, the
term “Approved Encumbrancer” shall mean the holder of record of any Approved
Encumbrance including the trustee and beneficiary under a deed of trust, and the
parties secured by any other security instrument. (3) If Lessor shall give any
notice, demand, election or other communication (collectively, “Messages”) to
Lessee hereunder, Lessor shall at the same time give a copy of each such Message
to each Approved Encumbrancer at the address theretofore designated by each
Approved Encumbrancer. Copies of Messages shall be sent by registered or
certified mail, and shall be deemed given upon the earlier of actual receipt or
seventy-two (72) hours after the date such copy is deposited in a United States
Post Office with postage charges prepaid. No Message given by Lessor to Lessee
shall be effective unless and until a copy of said Message shall be given to
each Approved Encumbrancer pursuant to this Article 19. In the case of an
assignment of the mortgage or change in address of the Approved Encumbrancer,
the assignee or Approved Encumbrancer, by written notice to Lessor, may change
the address to which copies of Messages are to be sent. Lessor shall not be
bound to recognize any assignment of the mortgage unless and until Lessor shall
be given written notice of such assignment and the name and address of the
assignee, and thereafter such assignee shall be deemed to be an “Approved
Encumbrancer” under this Lease. 17

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(4) Each Approved Encumbrancer, after receiving notice in accordance with
subsection (3) of this Article 19B will have forty-five (45) days more than is
given the Lessee after notice to it, to remedy any default or to cause the same
to be remedied. (5) In case the Lessee shall default under any of the provisions
of this Lease, each Approved Encumbrancer shall have the right to make good such
default whether the same consists of the failure to pay rent or the failure to
perform any other matter or thing which the Lessee is hereby required to do or
perform, and the Lessor shall accept such performance on the part of the
Approved Encumbrancer as though the same had been done or performed by the
Lessee. (6) Lessee may delegate irrevocably to an Approved Encumbrancer the
authority to exercise any or all of Lessee’s rights hereunder, but no such
delegation shall be binding upon Lessor unless and until either Lessee or the
Approved Encumbrancer shall give to Lessor a true copy of a written instrument
effecting such delegation. Such delegation of authority may be effected by the
terms of the Approved Encumbrance itself, in which case the service upon Lessor
of an executed counterpart or certified copy of the Approved Encumbrance,
together with a written notice specifying the provisions therein which delegate
such authority to the Approved Encumbrancer, shall be sufficient to give Lessor
notice of such delegation. (7) Any Approved Encumbrancer may, at the time of any
damage or destruction, by fire or otherwise, to the Leased Premises or any
machines, fixtures or equipment therein, or improvements thereon, at its sole
cost and expense, repair the same or construct new improvements, as the case may
be, and in such event, if the Approved Encumbrancer repairs or constructs, it
shall be subrogated to the rights of Lessor and Lessee to all insurance proceeds
payable as a result of such damage or destruction, and shall be entitled, if
Lessee is not then in default hereunder, to have (and Lessee hereby authorizes
Lessor to do so) all insurance proceeds paid out by Lessor in the same manner
and in every respect as if the Approved Encumbrancer were the Lessee hereunder.
(8) In the case of any default hereunder to the Lessee, other than in the
payment of money, the Lessor will take no action to effect a termination of this
Lease by reason of any such default without first giving to the Approved
Encumbrancer a reasonable time within which either (i) to obtain possession of
the Leased Premises (including possession by a receiver) and cure such default
in the case of a default which is susceptible of being cured when the Approved
Encumbrancer has obtained possession, or (ii) to institute foreclosure
proceedings and complete such foreclosure, or otherwise acquire the Lessee’s
interest under this Lease with diligence and continuity in the case of a default
which is not susceptible of being cured by the Approved Encumbrancer; provided,
however, that 18

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the Approved Encumbrancer shall not be required to continue such possession or
continue such foreclosure proceedings if the default which would have been the
reason for termination shall be cured. (9) Any Approved Encumbrancer may become
the legal owner and holder of Lessee’s interest in this Lease by foreclosure of
its Approved Encumbrance or as a result of the assignment of this Lease in lieu
of foreclosure. No Approved Encumbrancer, however, shall become liable under the
provisions of this Lease, unless and until such time as it becomes, and then
only for as long as it remains, the owner of the Lessee’s interest in the
leasehold estate. If an Approved Encumbrancer shall acquire Lessee’s interest in
this Lease as a result of a sale under such Approved Encumbrance pursuant to a
judgment of foreclosure and sale, or through any transfer in lieu of
foreclosure, or through settlement of or arising out of any pending or
contemplated foreclosure action, such Approved Encumbrancer shall have the
privilege of transferring its interest in this Lease to a nominee or assignee
without the prior consent of Lessor, provided, however, that there shall be
delivered to Lessor in due form for recording, within ten (10) days after the
date of such transfer, (a) a duplicate of the instrument of assignment and (b)
an instrument of assumption by the assignee of all of the Lessee’s obligations
under the Lease, and said Approved Encumbrancer shall be relieved of any further
liability under this Lease from and after such transfer. Any purchaser at a
foreclosure sale, other than an Approved Encumbrancer, must assume this Lease
and it shall have no right with respect to the Leased Premises unless it so
assumes and delivers a duplicate of the assumption agreement (to be executed in
due form for recording) with ten (10) days after such purchaser acquires title
to the Lessee’s interest in this Lease. (10) In the event of the termination of
this Lease or of any succeeding lease made pursuant to the provisions of this
Article 19B(10) prior to its stated expiration date, the Lessor will enter into
a new lease of the Leased Premises with the Approved Encumbrancer or, if there
be more than one Approved Encumbrance, then with the Approved Encumbrancer
entitled under Subparagraph (a) of this Article 19B(10) or, at the request of
such Approved Encumbrancer, to its designee or nominee, for the remainder of the
Lease Term, effective as of the date of such termination, at the Rent and upon
all the covenants, conditions, agreements, terms, provisions and limitations
contained in this Lease, provided that: (a) Such Approved Encumbrancer makes
written request upon the Lessor for such new lease within forty (40) days after
the date of such termination, and such written request is accompanied by payment
to the Lessor of all amounts then due hereunder; 19

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(b) Such Approved Encumbrancer pays, or causes to be paid, to the Lessor, at the
time of the execution and delivery of said new lease, any and all sums which
would at the time of the execution and delivery thereof be due under this Lease
but for such termination, and pays or causes to be paid to Lessor any and all
expenses, including reasonable attorneys’ fees, court costs and disbursements
incurred by the Lessor in connection with any such default and termination, as
well as in connection with the execution and delivery of such new lease, less
the net income collected by the Lessor subsequent to the date of termination of
this lease and prior to the execution and delivery of the new lease, any excess
of such net income over the aforesaid sums and expenses to be applied in payment
of the rent thereafter becoming due under said new lease; and (c) If more than
one such Approved Encumbrancer makes written request upon the Lessor in
accordance with the provisions of Subparagraph (a) of this Article 19B, the new
lease shall be delivered pursuant to the request of the Approved Encumbrancer
whose Approved Encumbrance is prior in lien, and the written request of any
Approved Encumbrancer whose Approved Encumbrance is subordinate in lien shall be
void and of no force or effect; such new lease executed and delivered in
accordance with the provisions of this Article 19B shall provide that, with
respect to each and every Sublease which immediately prior to the termination of
the term of this Lease was superior to the lien of the Approved Encumbrance held
by the Approved Encumbrancer who obtains such new lease, by entering into such
new lease, the Lessee thereunder shall be deemed to have recognized the
sublessee under the Sublease pursuant to the terms of the Sublease as though the
Sublease had never terminated but had continued in full force and effect after
the termination of the term of this Lease, and to have assumed all of the
obligations of the Lessor under the Sublease accruing from and after the
termination of the term of this Lease, except that the obligation of the Lessee
under such new lease on any covenant of quiet enjoyment, expressed or implied,
contained in the Sublease, shall be limited to the acts of such Lessee and those
claiming by, under or through such Lessee. (d) Each sublessee of the Leased
Premises whose Sublease was in force and effect immediately prior to termination
of this Lease, and which did not expire of its own terms prior to the delivery
of said new lease, shall attorn to the Lessee under said new lease; furthermore,
each Sublessee who hereafter subleases a portion of the Leased Premises shall be
deemed to have agreed to the provisions of this subsection. (11) Any new lease
made in accordance with the provisions of Article 19B(10) and the leasehold
estate thereby created, shall, subject to the same conditions contained in this
Lease, continue to maintain the same priority as this Lease with regard to any
mortgage on the 20

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Leased Premises or any part thereof or any other lien, charge or encumbrance
thereon, whether or not the same shall then be in existence. (12) Upon the
execution and delivery of a new lease in accordance with the provisions of
Article 19B(10), all Subleases which theretofore may have been assigned and
transferred to the Lessor shall thereupon be assigned and transferred without
recourse by the Lessor to the Approved Encumbrancer, as the new Lessee. (13) Any
Approved Encumbrancer may freely assign all of its right, title and interest in
and to the new lease without obtaining Lessor’s prior consent and in no event
shall an Approved Encumbrancer be under any obligation or liability whatsoever
except as herein expressly provided beyond the period of its occupancy of the
Leased Premises (or portion thereof) under the new lease. (14) If under the
provisions of Article 19B(9) or if under any new lease made in accordance with
the provisions of Article 19B(10) an institutional investor shall be the Lessee
as a trustee, each and every obligation of such trustee shall be binding upon it
solely in its fiduciary capacity and shall have no force and effect against such
institutional investor in its individual capacity. (15) Lessor shall, upon
request of an Approved Encumbrancer, execute, acknowledge and deliver to each
Approved Encumbrancer, an agreement prepared at the sole cost and expense of
Lessee, in a form satisfactory to such Approved Encumbrancer, between Lessor,
Lessee and Approved Encumbrancer, agreeing to all of the provisions of Articles
19A and 19B. (16) Lessor agrees that the name of any Approved Encumbrancer may
be added as a named insured or to the “loss payable endorsement” of any and all
insurance policies required to be carried by Lessee hereunder on the condition
that the insurance proceeds are to be applied in the manner specified in the
Approved Encumbrance. The proceeds of any insurance policies arising from a
condemnation are to be held by any Approved Encumbrancer and distributed
pursuant to the provisions of this Lease, but the Approved Encumbrancer may
reserve its right to apply to the mortgage debt all, or any part, of Lessee’s
share of such proceeds pursuant to such mortgage. (17) As to any Approved
Encumbrance, Lessor consents to a provision therein for an assignment of rents
due to Lessee from Sublessees to the holder thereof, effective upon any default
under the Approved Encumbrance, and to a provision therein that the holder
thereof in any action to foreclose the same shall be entitled to the appointment
of a receiver. 21

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(18) Simultaneously with the making of a new lease as is contemplated by Article
19B(10), the party obtaining the new lease and all other parties junior in
priority in interest in the Leased Premises shall execute, acknowledge and
deliver such new instruments, including new mortgages and new Subleases, as the
case may be, and shall make such payments and adjustments among themselves, as
shall be necessary and proper for the purpose of restoring each of such parties
to, as nearly as reasonable possible, the respective interests and status with
respect to the property which was possessed by it prior to the termination of
this Lease as aforesaid. (19) Nothing herein contained shall be deemed to impose
any obligation on the part of Lessor to deliver physical possession of the
Leased Premises to any Approved Encumbrancer, or to its nominee. Lessor agrees,
however, that Lessor will, at the sole cost and expense of such Approved
Encumbrancer, or its nominee, cooperate in the prosecution of summary
proceedings to evict the then defaulting Lessee. (20) Lessor agrees that if any
Approved Encumbrancer to whom Lessee proposed to make an Approved Encumbrance on
Lessee’s leasehold estate hereby created shall require as a condition to making
any loan secured by such mortgage that Lessor agree to reasonable modifications
of this Lease, then Lessor will enter into an agreement with Lessee, in
recordable form, making the reasonable modifications that are requested by such
lender, provided that such changes are reasonable, and do not unreasonably
expand or enlarge Lessor’s obligations under this Lease, and do not change or
modify the basic purpose of this Lease, the Lease Term, the rental, or any other
substantive rights of the parties. 20. Liens, Taxes, Assessments, Utility
Charges. Lessee shall not permit to be enforced against the Leased Premises, or
any part thereof, any liens arising from any work performed, materials
furnished, or obligations incurred by Lessee, and Lessee shall discharge or post
a bond against all such liens before an action is brought to enforce the same.
Lessee shall pay, when and as the same become due and payable, all taxes,
assessments, licenses, fees and other like charges levied during the Lease Term
upon or against the Leased Premises, all interests therein and property thereon,
for which either the Lessee or Lessor may become liable. Upon written request,
the Lessee shall furnish to the Secretary written evidence, duly certified, that
any and all taxes required to be paid by Lessee have been paid, satisfied or
otherwise discharged. Lessee shall have the right to contest any claim, tax or
assessment against the Leased Premises or any interests therein and property
thereon by posting bonds to prevent enforcement of any lien resulting therefrom.
Lessee agrees to protect and hold harmless the Lessor, the Secretary and the
Leased Premises and all interests therein and improvements 22

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thereon from any and all claims, taxes, assessments and like charges and from
any lien therefor or sale or other proceedings to enforce payment thereof, and
all costs in connection therewith. Lessor shall promptly execute and deliver for
filing any appropriate documents with reference to the real estate tax exemption
of the Leased Premises when so requested by Lessee. In addition to the Rent,
taxes and other charges herein described, Lessee shall pay all charges for
water, sewerage, gas, electricity, telephone and other utility services supplied
to the Leased Premises as the same shall become due. 21. Lessor’s Paying Claims.
Lessor shall have the right to pay any lien or charge payable by Lessee under
this Lease, or settle any action therefor, if the Lessee, after written notice
from the Lessor or the Secretary, fails to pay or to post bonds against
enforcement. All costs and other expenses incurred by Lessor in so doing shall
be paid to Lessor by Lessee upon demand, with interest from date of payment
until repaid at the rate of interest two (2) percentage points greater than the
Prime Rate. Failure to make such repayment on demand shall constitute a breach
of the covenants of this Lease. 22. Claim or Assessment of State Taxes. A.
Lessee will forthwith notify the Community of any claim of right by the State of
Arizona or any of its political subdivisions or municipalities to or assessment
of taxes and will forthwith send to the Community copies of all notices or other
documents received by it in connection with any such claim or assessment of
taxes. B. Lessee will make no payment of such taxes without approval of the
Community and the Lessors unless such payment is made under protest that there
is no right to assess or claim such taxes. C. Lessee will cooperate in any
action undertaken by the Community or the Lessors in regard to any claim or
assessment of such taxes and will further cooperate with the Community and the
Lessor in any litigation resulting from a payment under protest as set out in
Subparagraph B hereof. Such cooperation, however, shall not require or subject
Lessee to any additional cost or expense except those provided for under the
Lease, and any such litigation shall be undertaken by and the expenses thereof
shall be borne exclusively by the Community and the Lessor. In addition, Lessee
shall not be obligated to be a party initiating such action or litigation
brought by the Community or the Lessors without its written consent thereto. 23

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D. Nothing contained herein shall require Lessee to take any action that (i) is
inconsistent with its rights and obligations under the Lease; (ii) will subject
it to any penalty, fine or lien imposed by any taking authority; or (iii)
otherwise diminish or jeopardize its leasehold interest or its ability to
develop the leasehold estate as provided for under the Lease. E. For purposes of
this Article 22, “taxes” shall mean any ad valorem taxes, including leasehold or
government property lease excise taxes sought to be assessed by or collected by
the State of Arizona or any of its political subdivisions or municipalities
having or claiming to have authority by virtue of the Arizona State Constitution
or laws, against the property interest in the leasehold subject of the Lease or
any other property or possessory interest connected with that leasehold. 23.
Eminent Domain. A. Definition of Terms; Lessee’s Option. The term “Total
Taking”, as used in this Article 23A, means the taking by a Governmental
Authority of the entire Leased Premises in fee under the power of eminent domain
or a voluntary transfer in lieu thereof. The term “Partial Taking”, means any
other taking by a Governmental Authority in fee under the power of eminent
domain (or a voluntary transfer in lieu thereof), except that if one quarter or
more by area, but not all of the Leased Premises is so taken, then Lessee shall
have the option, exercisable within sixty (60) days after the date of such
taking, by notice in writing to Lessor and the Secretary, and with the consent
of all Approved Encumbrancers, to have such Partial Taking deemed to be a “Total
Taking”. B. Total Taking. In case of a Total Taking, the Leasehold estate of
Lessee and its liability for payment of Rental of every kind whatsoever shall
cease and terminate as of the date possession of the Leased Premises shall be so
taken. C. Partial Taking. In case of a Partial Taking, this Lease shall
terminate as to the portion of the Leased Premises so taken as of the date on
which possession of said portion is taken, but this Lease shall continue in full
force and effect as to the remainder of the Leased Premises. Thereafter, each
ensuing installment of Rent shall be abated in the ratio that the value of the
Leased Premises taken as unimproved real property being put to its highest and
best use bears to the total value of the Leased Premises as unimproved real
property being put to its highest and best use prior to such taking. D. Refund
of Advance Rentals. There shall be no refund of Basic Rent paid in advance
because of either a Total or Partial Taking of the Leased Premises. However, in
the event of an overpayment of Rent due to a Partial Taking (determined with
reference to the abatement of Rent in 24

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Article 23C above), any such overpayment shall be credited toward future
payments of Rents as the same become due. E. Allocation of Awards. In the event
of either a Partial or Total Taking of the Leased Premises. Lessor shall be
entitled to that portion of the entire award (subject to the rights of any
Approved Encumbrancer) made with respect to the then discounted present value of
Rent (provided that discounted present value of Rent will be determined to be
zero after payment of the Prepaid Rent Amount is made to Lessor) payable under
this Lease for the remainder of the Lease Term, and the then discounted present
value of the residual value of the Leased Premises to Lessor upon the
termination of this Lease. Lessee, or any Approved Encumbrancer, as their
interests may appear, shall be entitled to that portion of the entire award made
with respect to the taking of the improvements erected on the Leased Premises by
Lessee and with respect to Lessee’s leasehold interest in the Leased Premises
(which interest shall be the total value of the Leased Premises minus Lessor’s
interest in the Leased Premises as set forth above). All compensation and
damages awarded for the taking of the Leased Premises or the improvements or any
portion thereof shall, except as otherwise herein provided, and except as to
such compensation as may be deemed “relocation benefits”, belong to and be the
sole property of Lessor. F. Taking for a Term. In case the Leased Premises or
any portion thereof are taken for a term of years, then Lessee shall remain
bound by all of the terms and provisions of this Lease and shall be entitled to
the entire award made in connection with such taking; except such part, if any,
as is allocable to a period beyond the Lease Term. G. Voluntary Conveyance. A
voluntary conveyance by Lessor to a Governmental Authority under a threat of a
taking under the power of eminent domain, in lieu of formal proceedings, with
the written consent of the Lessee and any holder of an Approved Encumbrance,
shall be deemed to be a taking within the meaning of this Article 23. 24.
Rezoning. It is understood, by and between the parties hereto, that if after the
beginning of the Lease Term, the zoning of the Leased Premises or any part
thereof is changed and such rezoning in the reasonable judgment of Lessor,
Lessee and the Community has a material and adverse effect on the present or
future operation of all or part of the Leased Premises for the uses permitted in
Article 4 hereof, then that part of the Leased Premises so affected may be
withdrawn from this Lease and the Rent applicable to such withdrawn land shall
thereafter be abated in full and shall no longer be an obligation of the Lessee.
The 25

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Lessee shall give effect to the election provided for in this Article 24 by a
written notice to the Lessor, the Community and the Secretary (“Notice of
Election”). In the event the Lessor disputes Lessee’s election to withdraw such
land from this. Lease, such dispute shall be settled by binding arbitration in
accordance with the provisions of Article 39. The demand for binding arbitration
must be made within forty-five (45) days after receipt by the Lessor and the
Community of Lessee’s Notice of Election. The failure to demand arbitration
within such forty-five (45) day period shall be deemed to be an acceptance of
Lessee’s election to withdraw such land from this Lease and a waiver of any
right to dispute such withdrawal. The effective date of the withdrawal of such
land, abatement of Rent and the release of Lessee’s obligation therefor shall be
forty-five (45) days after the receipt of notice by the parties who are to
receive notice. Such notice shall be effective only if delivered in accordance
with the terms of this Article. If, however, Lessor requests arbitration, the
effective date of the withdrawal of such land, the abatement of Rent and the
release of Lessee’s obligation therefor shall be twenty-five (25) days following
the final adjudication under the Arbitration proceedings. 25. Default. Time is
of the essence of this Lease. Should Lessee default in any payment of monies or
fail to post any bond as required by the terms of this Lease, and if such
default shall continue uncured for the period of twelve (12) days after
certified mailing of written notice thereof by the Secretary to Lessee, or
should Lessee breach any other covenant of this Lease, and if the breach of such
other covenant shall continue uncured for a period of sixty (60) days (or if
such breach of such other covenant cannot reasonably be cured within sixty (60)
days, Lessee shall have a reasonable time to cure such breach provided that
Lessee proceeds in good faith and with due diligence) after written notice
thereof by the Secretary to Lessee, then the Lessor and the Secretary may
(provided that such default is not then the subject of arbitration in accordance
with the provisions of Article 39, below) either: A. Proceed by suit or
otherwise to enforce collection or to enforce any other provision of this Lease;
or B. Re-enter the Leased Premises and subject to the provisions of Article 16
hereof remove all persons and property therefrom, excluding the person and
property belonging to sublessees, and (1) Re-let the Leased Premises in a
commercially reasonable manner, without terminating this Lease, as the agent and
for the account of Lessee, but without prejudice to the right to terminate this
Lease thereafter, and without invalidating any right of Lessor and the Secretary
or 26

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any obligation of Lessee hereunder. The terms and conditions of such re-letting
shall be at the discretion of Lessor and the Secretary, who shall have the right
to alter and repair the Leased Premises as they deem advisable, and to re-let
with or without any equipment or fixtures situated thereon. If a sufficient sum
is not thus realized to liquidate the total amount due, including reasonable
attorney’s fees and real estate commissions actually paid, Lessee shall pay to
Lessor monthly, when due, any deficiency, and Lessor or the Secretary may sue
thereafter as each monthly deficiency shall arise; or (2) Subject to the
provisions of Subparagraphs 19A(4) and (5) and 19B(3),(4),(5) and (8) above,
terminate this Lease at any time even though Lessor and the Secretary may have
exercised the rights outlined in Subparagraph 25B(1) above. Any action taken or
suffered by Lessee as a debtor under any insolvency or bankruptcy act shall
constitute a breach of this Lease. In such event, the Lessor and the Secretary
shall have the options set forth in Articles 25A and B above. No waiver of a
breach of any of the covenants of this Lease shall be construed to be a waiver
of any succeeding breach of the same or any other covenant. Lessor shall make
commercially reasonable efforts to re-let and shall maintain the Leased
Premises. 26. Attorney’s Fees. If an action be brought by Lessor in unlawful
detainer, for Rent or any other sums of money due under this Lease, or if either
party shall bring an action to enforce performance of any of the covenants and
conditions of this Lease whether in court or pursuant to the Arbitration
provisions set forth in Article 39 below, the losing party shall pay such
reasonable attorney’s fees of the prevailing party, as may be determined and
fixed by the Court (or Arbitration panel) as a part of the costs in any such
action. 27. Holding Over. Holding over by the Lessee after the termination or
expiration of this Lease shall not constitute a renewal or extension of this
Lease or give the Lessee any rights hereunder in or to the Leased Premises.
Lessee agrees to remove all Removable Personal Property prior to the termination
or expiration of this Lease; provided, however, that if this Lease is terminated
prior to the expiration date, Lessee shall have thirty (30) days after the
termination date to remove all its Removable Personal Property. Should the
Lessee fail to remove any Removable Personal Property within the specified time,
Lessor shall have the right to remove it and dispose of it or have it stored,
all at Lessee’s expense. 27

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28. No Partnership. Lessee and Lessor are not in partnership. 29. Termination of
Federal Trust. Nothing contained in this Lease shall operate to delay or prevent
a termination of Federal trust responsibilities with respect to the Leased
Premises by the issuance of a fee patent or otherwise during the Lease Term;
however, such termination shall not serve to abrogate this Lease. Lessor, Lessee
and its surety or sureties and Approved Encumbrancers shall be notified of any
such change in the status of the Leased Premises. 30. Lessee’s Obligations to
the United States. While the Leased Premises are held in trust by the United
States or subject to a restriction against alienation imposed by the United
States, all of the Lessee’s obligations under this Lease, and the obligations of
Lessee’s sureties, are to the United States as well as to the Lessor. 31.
Payments and Notices. All notices, payments and demands shall be sent to the
parties hereto at the address herein recited or to such addresses as the parties
may hereafter designate in writing: For SRPMIC: Lessor – Business Lease B-704
c/o Director, Community Development Department Salt River Pima-Maricopa Indian
Community 10005 East Osborn Road Scottsdale, AZ 85256 with a copy to: Office of
the General Counsel Salt River Pima-Maricopa Indian Community 10005 East Osborn
Road Scottsdale, AZ 85256 For Lessee: c/o The Alter Group, Ltd. Attention: Mr.
Randolph Thomas 3201 Old Glenview Road, Suite 302 Wilmette, IL 60091 Fax No.:
(847) 676-4309 With copies to: Lawrence M. Freedman Ash, Anos, Freedman & Logan,
L.L.C. 77 West Washington Street, Suite 1211 Chicago, IL 60602 Fax No.: (312)
346-1390 28

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The Alter Group Attn: Kent Moe 7500 North Dobson Road, Suite #151 Scottsdale, AZ
85256 Fax No.: (480) 302-6606 Samuel F. Gould Alter Asset Management, L.L.C.
1980 Springer Drive, Lombard, IL 60148 Fax No.: (630) 620-3606 Procopio Cory,
Hargreaves & Savitch LLP Attn: Kerry Patterson 8355 Hartford Drive, Suite 202
Scottsdale, AZ 85255 Fax No.: (619)788-5505 For Community: Director, Community
Development Department Salt River Pima-Maricopa Indian Community 10005 East
Osborn Road Scottsdale, AZ 85256 Payments through the Community: Salt River
Pima-Maricopa Indian Community Finance Department 10005 East Osborn Road
Scottsdale, AZ 85256 For Secretary: Superintendent, Salt River Agency Bureau of
Indian Affairs 10000 East McDowell Road Scottsdale, AZ 85256 Notice, demands and
payments shall be delivered in person or sent by certified or registered mail,
return receipt requested. Service of any notice or demand shall be deemed
completed seventy-two (72) hours after deposit in the mail or on the date
actually received, whichever occurs first. 32. Inspection. The Secretary, the
Community and the Lessor, and their authorized representatives shall have the
right, at any reasonable times during the Lease Term, upon reasonable advance
notice, which, depending upon the necessity or emergency determined by the
Secretary, Community or Lessor, may be reduced to very short or no notice, to
enter upon the Leased Premises, or any part thereof, to inspect the same and all
buildings and other improvements erected and placed thereon. 29

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33. Delivery of Leased Premises. At the termination or expiration of this Lease,
Lessee will peaceably and without legal process deliver up the possession of the
Leased Premises, in good condition, usual wear and tear excepted. 34. Lease
Binding. This Lease and the covenants, conditions and restrictions hereof shall
extend to and be binding upon the successors, heirs, assigns, executors and
administrators of the parties hereto. 35. Interest of Member of Congress. No
member of, or delegate to Congress, or Resident Commissioner, shall be admitted
to any share or part of this Lease or to any benefit that may arise herefrom,
but this provision shall not be construed to extend to this Lease if made with a
corporation or company for its general benefit. 36. Tax Immunity. Nothing
contained in this Lease shall be deemed to constitute a waiver of applicable
laws providing tax immunity to trust or restricted Indian property or any
interest therein or income therefrom. 37. Force Majeure. Whenever under this
Lease a time is stated within which or by which original construction, repairs
or reconstruction of improvements shall be completed, and if during such period
a general or sympathetic strike or lockout, war or rebellion, or some other
event occurs or fails to occur beyond, Lessee’s or Lessor’s power to control, or
if Lessee is unable, despite the exercise of reasonable and diligent efforts, to
obtain any Required Consent, the period of delay so caused shall be added to the
period allowed herein for the completion of such work. 38. Laws and Ordinances
of the Community. The Lessee, Lessee’s employees, agents and Sublessees and
their employees and agents agree to abide by all laws, regulations and
ordinances of the Community now in force and effect, or those that may be
hereafter in force and effect. 39. Arbitration. Any controversy which shall
arise between the Lessor, the Community and Lessee regarding the rights, duties
or liabilities hereunder of Lessor, the Community and/or Lessee, except such in
which there 30

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is a claim that a lien (excluding Approved Encumbrances) exists or ought to
exist on Lessor’s interest in real property within the Community and except such
controversies involving claims for money damages in a sum of less than Forty
Thousand and No/100 Dollars ($40,000.00), shall be settled by binding
arbitration pursuant to the authority of the Act of November 22, 1983, (7 Stat.
1016). Both Lessor and Lessee may bring actions in Tribal Court for matters
involving claims for money damages that are not, pursuant to this Article 39,
subject to binding arbitration. Such binding arbitration shall be conducted,
upon the request of either the Lessor, the Lessee or the Community before three
(3) arbitrators (unless the Lessor, the Lessee and/or the Community agree to one
(1) arbitrator) designated by the American Arbitration Association and in
accordance with the rules of such Association (except as such rules may
contemplate state court jurisdiction) and as provided for under the Act of
November 22, 1983 (97 Stat. 1016). The conduct of any arbitration shall be
solely within the jurisdiction of the United States District Court. The
arbitrators designated to act under this Lease shall make their award in strict
conformity with such rules and shall have no power to depart from or change any
of the provisions thereof except as provided herein. The Community, as Lease
Administrator, agrees to administer this Lease in accordance with any order,
decree or judgment issued as a result of any arbitration or judicial proceeding
permissible under Article 39 of this Lease. 40. Employment Preference. A. It is
recognized that one of the basic factors involved in this Lease is the fact that
substantial and persistent unemployment and underemployment exist within the
Community and the project of Lessee hereunder is reasonably calculated to
provide more than a temporary alleviation of such unemployment and
underemployment. B. Qualified members of the Community or members of any other
federally recognized Indian tribe shall receive preference in hiring and in all
other aspects of employment with Lessee in connection with the construction and
operation of the improvements to be developed on the Leased Premises in
accordance with terms of this Lease. C. Lessee shall notify the Director of the
Human Resources Department of the Community of all job openings and the required
qualifications for such job openings. D. Lessee shall not employ any person who
is not a member of the Community or member of any other federally recognized
Indian tribe without giving the Director of the Human Resources Department of
the Community three (3) days’ notice so that a qualified member of the 31

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Community or a member of any other federally recognized Indian tribe may be
referred for employment. E. Qualified members of the Community or members of any
other federally recognized Indian tribe shall have preference in promotions and
such openings shall be announced at least three (3) days prior to filling them.
Notice, together with the required qualifications for such open position, shall
be given to the Director of the Human Resources Department of the Community at
least three (3) days prior to the filling of any such vacancy if Lessee intends
to fill said vacancy with a non- member of the Community. F. Lessee shall report
the following employment information to the Director of the Human Resources
Department of the Community on January 1 and July 1 of each year designating
members and non-members of the Community in separate categories. (1) The number
of each pay grade; (2) All lay-offs and re-calls; (3) All promotions/demotions,
job reclassifications and terminations; and (4) The number receiving merit
increases and the number denied merit increases. G. The Community shall notify
Lessee, in writing, of business enterprises owned by members of the Community
which are qualified to provide services of any kind with respect to the
construction and operation of the premises including without limitation the
buildings, grounds or equipment. It shall thereafter be the policy of Lessee in
connection with the improvements to be developed on the Leased Premises that
prior to contracting with any business enterprise which is not owned by (a)
Member(s) of the Community for services with respect to the construction and
operation of the premises including without limitation the buildings, grounds or
equipment, Lessee shall give to the Community Manager the same notice of
contracting opportunity and required qualifications as is given by Lessee in the
ordinary course of business. H. Lessee may vary from the provisions of Articles
40C and 40D above in the event of an emergency situation or when it is not
reasonable or practical to give the notice referred to above. 32

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I. In the event it is determined by the Director of the Human Resources
Department that Lessee has committed a violation of a provision of this Article
40, such a violation shall not be considered a breach or default of this Lease
unless it has been determined in a procedure under Article 39 hereof that the
violation is part of a pattern or practice of such violations; rather, in such
event, a fine, in an amount not to exceed Two Hundred Fitly and No/100 Dollars
($250.00) per occurrence, may be imposed upon Lessee, which fine shall be paid
to the Community to support job training. J. Lessee agrees to specify and
purchase and require its contractors, subcontractors and material suppliers to
specify and purchase from Salt River Sand & Rock Company, Phoenix Cement
Company, or other business enterprises owned by or which are divisions of the
Community (“Community Suppliers”) as designated in writing by the Community (a)
sand and gravel; (b) cement; (c) asphaltic paving materials; (d) fly ash; (e)
concrete; and (f) landfill services and such other goods and services which can
be supplied by the Community (the “product”) in connection with the improvements
to be developed on the Leased Premises to the extent that the quantity, quality,
specifications, cost and availability of the product available from Community
Suppliers are equivalent to or better than those which are required by Lessee
and if available from other suppliers as available from such suppliers. The
contracts under which the product or services are purchased from the Community
Suppliers shall provide equivalent or better terms and conditions, including but
not limited to bonds, penalties, and enforceability, as would be available in a
contract for the purchase of equivalent product or services from other
suppliers. In the event a Community Supplier fails to materially comply with the
terms and conditions of a contract for the sale of a product or services entered
into pursuant to this Article 40K and is so notified in writing by Lessee, its
contractor or subcontractor specifying the lack of compliance, the Lessee’s,
contractor’s or subcontractor’s obligation to purchase that product or service
from that Community Supplier under that contract shall cease. Any dispute
arising under this Article 40J shall be subject to binding arbitration under the
provisions of Article 39. No single violation of this Article 40K shall be
considered a breach or default of this Lease but shall be subject to a fine on a
finding of liability by an arbitrator under the provisions of Article 39 hereof
in an amount equal to ten percent (10%) of the contract price but in no event
more than Fifty Thousand and No/100 Dollars ($50,000.00) per contract, to be
paid by Lessee to the Community to support job training. K. It is the purpose
and intent of the Provisions of this Article 40 that if there are two (2) or
more persons qualified for a job opening, and one of such persons is a member
or, a spouse of a member of the Community or member of any other federally
recognized Indian tribe, the qualified 33

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person who is a member or a spouse of a member of the Community shall be
selected. If no qualified member of the Community applies for the job opening, a
person who is not a member of the Community may be selected for employment. It
is not the intent and purpose of Articles 40A through H above to establish
quotas. Further, Lessee shall not be required to discharge existing employees in
order to create job openings, it being the purpose and intent that the
provisions of Articles 40A through H above apply with respect to job openings
and newly created positions. L. The provisions of this Article shall be
applicable only to the Lessee and the operations of Sublessees at the Leased
Premises. 41. Validity. This Lease, and any modifications of or amendments to
this Lease, shall not be valid or binding upon either party hereto until
approved by the Secretary. 42. Indemnification. Neither the Lessor, the
Community, nor the United States, nor their officers, agents and employees shall
be liable for any loss, damage or injury of any kind whatsoever to the person or
property of the Lessee or Sublessees or any other person whomsoever, caused by
any use of the Leased Premises, or by any defect in any structure erected
thereon, or arising from an accident, fire or other casualty on the Leased
Premises or from any other cause whatsoever, other than the negligent or willful
misconduct of Lessor, the Community, the Secretary or the United States. Lessee
hereby waives all claims against the Lessor, the Community and the United States
arising from the condition of the Leased Premises and agrees to hold the Lessor,
the Community and the United States free and harmless from liability for any
loss, damage or injury arising from the use of the Leased Premises by Lessee,
together with all costs and expenses in connection therewith, except if caused
by the negligent or willful misconduct of Lessor, the Community, the Secretary
or the United States. Lessor agrees to defend and hold Lessee harmless from the
negligent or intentional acts of Lessor. 43. Fire and Damage Insurance. Lessee
shall, from the date of the approval of this Lease and thereafter, carry fire
insurance with extended coverage endorsements, to include vandalism, covering
the full replacement cost of all improvements on the Leased Premises, and naming
Lessor as an additional insured. Evidence reasonably acceptable to the Lessor
and the Secretary of such coverage shall be furnished to the Lessor and the
Secretary. 34

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Lessee shall pay all premiums and other charges for such insurance and shall
deposit with the Lessor and the Secretary the receipt for each premium or other
charges as paid or satisfactory evidence thereof. In the event of damage to any
improvements on the Leased Premises, subject to the provisions of any Approved
Encumbrance or Sublease to the contrary, the Lessee shall reconstruct, or cause
to be reconstructed the damaged improvements in compliance with applicable Legal
Requirements, and in accordance with plans to be approved pursuant to Article 45
below. Such reconstruction shall commence and be completed within a reasonable
time after the damage occurs and shall be pursued diligently. Insurance proceeds
shall be deposited in escrow with an institution approved by the Secretary,
subject, however, to the provisions of any Approved Encumbrance or Sublease to
the contrary. The Lessee shall deposit in said escrow or otherwise provide
adequate funds through the use of a letter of credit or loan commitments from
reliable lending institutions to reconstruct the damaged improvements. Escrow
instructions shall include provisions that all funds so deposited shall be used
to reconstruct the damaged improvements, and shall be disbursed during the
progress of construction on proper architect’s, engineer’s or contractor’s
certificates. If Lessee has not defaulted under this Lease, all money remaining
in escrow after reconstruction has been completed shall be paid to Lessee. If a
default has taken place which remains uncured, said money shall remain in escrow
as security for performance by Lessee until said default is corrected, at which
time, such funds remaining in escrow shall be paid to Lessee. If Lessee does not
correct the default within the time frames set forth in Article 25, such funds
as are necessary to correct the default shall be paid to Lessor, and the balance
shall be paid Lessee. 44. Accounting and Audits. Lessor or the Secretary shall
be entitled at any time within three (3) years after the receipt of any payment
to question the sufficiency of the amount thereof and/or the accuracy of the
statements furnished by Lessee to substantiate the same, and shall have the
right to examine and/or audit as hereinbefore described. Lessee shall, for such
three (3) year period, keep safe and intact all of Lessee’s records, books;
accounts and other data which in any way bear upon or are required to
substantiate in detail any such report, and Lessee shall insert in all Subleases
a similar provision requiring retention of records. 45. Plans and Designs.
Attached hereto as Exhibit C-1 is a copy of a preliminary site plan for the
complete development of the entire Leased Premises (which has already been
approved pursuant to the Master Lease B-704). Lessor and the Lessee acknowledge
that the preliminary site plan is tentative and a final site plan will be 35

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submitted to the Community for their approval prior to any construction on the
premises. Following approval by the Community of the final site plan and before
any comprehensive plans for building improvements are submitted to the
Community, Lessee shall submit to the Community for approval total site grading,
drainage, utility, roadway and signage plans (“infrastructure plans”). The
Community shall approve such infrastructure plans if the same conform generally
to the final site plan and applicable Legal Requirements. Before beginning any
construction whatsoever on the Leased Premises, the Lessee shall submit to the
Community comprehensive plans for the improvements then proposed, which may be
submitted in phases; the Community shall approve such plans if the same conform
generally to the site plan and infrastructure plans. The Community does not,
however, assume any responsibility whatsoever for the detailed design of any
structure of structures, or for any violation of any applicable Legal
Requirements. The Community shall either approve or state, in reasonable
specificity, its reasons for disapproval of Lessee’s plans within thirty (30)
days after receipt thereof from Lessee (which has already been approved pursuant
to Master Lease B-704). No material change will be made in plans after original
approval without the further approval of the Community, which approval shall not
be unreasonably withheld or delayed. The Lessee shall be responsible for
securing all necessary building permits. 46. Title Insurance. A. Title
Insurance. Lessee agrees to obtain, at its expense, an ALTA extended coverage
Lessee’s policy of title insurance, assuring the conveyance of a valid leasehold
interest in the Leased Premises to Lessee, and insuring Lessee’s interest in the
Leased Premises in a sum deemed necessary by Lessee. In the event that a title
search reveals a defect in title, Lessor shall have sixty (60) days within which
to remove such defect. If it is not so removed, Lessee may, in its sole
discretion, terminate this Lease or the portion thereof affected by such defect,
or may continue with this Lease as if no defect existed. If Lessee shall so
request, Lessor shall arrange for the execution of one or more Requests for
Title Status Reports and/or Requests for Recordation by an authorized
representative of the Community or by the Superintendent. B. Certification of
Signatures and Certification of Council Resolution. An authorized representative
of the Community Development Department of the Community will certify as to the
authenticity of the signatures of the landowners or those having power of
attorney or legal right to execute this Lease. Master Lease B-704 was previously
approved under Council Resolution SR-2234- 2003 as required by SRO-25-75, and so
Certified by the Community. C. Reserved. D. Reserved. 36

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47. Power of Attorney to Spokespersons. a. Designation of Spokespersons. In
various portions of this Lease (including Article 8), the consent or approval of
the Lessor is required. All or a substantial portion of the Leased Premises is
owned by individual Allottees who have executed this Lease as Lessor. Since
there are a large number of individual Allottees comprising the Lessor, it would
be burdensome and inconvenient for each of the individual Allottees to be
required to personally execute all of those documents or matters which require
consent, approval or some other action on the part of the Allottees which
comprise the Lessor. Accordingly, those individuals identified on Exhibit G
attached hereto who have previously been designated to the position of
Spokesperson for the individual Allottees which comprise the Lessor are hereby
irrevocably granted a Durable Power of Attorney to represent and act on behalf
of the individual Allottees which comprise the Lessor in regard to all consents,
approvals and other actions required or permitted under this Lease. b.
Appointment of Spokespersons. Each of the individual Allottees which comprise
the Lessor, by executing this Lease, hereby makes, constitutes and irrevocably
appoints each of the Spokespersons designated on Exhibit G hereto, but only for
so long as he or she remains an allotted owner of a portion of Leased Premises,
his true and lawful attorney, with full power of substitution, for him (her) and
in his (her) name, place, and stead; and for his (her) use and benefit, to sign,
execute, certify, deliver, acknowledge and record any consent, approval,
Substitute Lease, Short Form of Lease, Lease Amendment, estoppel or any other
instrument or document required, necessary, advisable or convenient under the
terms of this Lease, in the same manner as each of the individual Allottees
which comprise the Lessor could do if her (she) were personally present taking
such action, all in the sole and absolute discretion of such Spokespersons. c.
Acknowledgement. Each of the individual Allottees which comprise the Lessor
acknowledges that the foregoing Irrevocable Durable Power of Attorney (1) is
coupled with an interest, and is thereby irrevocable, (2) shall survive the
death, dissolution, bankruptcy, incompetency, incapacity or other legal
disability of any Allottee and shall extend to the legal representatives, heirs
and assigns of each of them, and (3) is given in consideration of this Lease and
of the execution by each individual Allottee which comprises the Lessor of this
Lease. 37

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d. Binding Action. The individual Allottees which comprise the Lessor agree to
have Spokespersons duly appointed at all times and acknowledge and agree that
the action of a majority of the Spokespersons shall be binding upon the Lessor.
e. Removal by Majority Vote. A Spokesperson may be removed from that position
only by a vote of a Majority of the Individual Allottees which comprise the
Lessor. f. Replacement of Spokesperson. In the event of the death, disability,
inability to act, removal or resignation of any Spokesperson, a Majority of the
Individual Allottees which comprise the Lessor shall have thirty (30) days
within which to appoint a substitute Spokesperson in accordance with the
provisions of this Article 47. Such substitute Spokesperson shall be one of the
individual Allottees which comprise the Lessor (or a successor, assign or
devisee of such allottee) appointed in accordance with the provisions of this
Article 47. In the event a Majority of the Individual Allottees which comprise
the Lessor fails to appoint a substitute Spokesperson within such thirty (30)
day period, then, the substitute Spokesperson shall be appointed by the
remaining Spokespersons within ten (10) days after the expiration of said thirty
(30) day period. In the event the Allottees or the remaining Spokespersons fail
or refuse, for any reason, to have the Spokespersons appointed, or to appoint a
substitute Spokesperson when required, either Lessor or Lessee may apply the
provisions of Article 39 above to have the Spokesperson or Spokespersons
appointed by arbitration. As used herein and elsewhere in this Business Lease,
the term “Majority of the Individual Allottees” shall mean those Allottees
representing the ownership of a majority (more than one-half (1/2)) of the gross
acreage of the Leased Premises, regardless of the actual number of allottees
involved. g. Consent to Lease Amendment to Lease by Lessor. This Lease may be
amended in any manner by the Spokespersons (hereinafter a “Lease Amendment”).
Any Lease Amendment that would increase or reduce the payment obligations to
Lessor, increase or decrease the area of the Leased Premises, change the Lease
Term or modify the dispute resolution procedures set forth in Article 39 shall
be processed as follows: (1) Lessee shall provide written notice of the Lease
Amendment to the individual Allottees at their last known address; (2) Lessee
shall hold an informational meeting for the individual Allottees to allow them
to ask questions and express their wishes to the Spokespersons, with notice of
the meeting to be provided at least fifteen (15) days prior to the meeting; and
38

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(3) After the meeting, Lessee shall provide at least thirty (30) days for
approval or disapproval of the Lease Amendment by the Spokespersons. The
Spokespersons are hereby authorized to consent to any Lease Amendment on behalf
of the individual Allottees. The Spokespersons shall provide written notice of
consent as soon as reasonably possible but in no event later than thirty (30)
days after written notice of the Lease Amendment (or thirty (30) days after the
meeting referenced in (g)(3) above if applicable). In the event the
Spokespersons do not consent to the Lease Amendment, the Spokepersons shall
notify Lessee of the disapproval and state with reasonable specificity the
reasons for the disapproval. At its option, Lessee may amend the Lease Amendment
to address the reasons for disapproval and submit it for consent by the
Spokesperson. No Lease Amendment shall be valid unless approved by the
Spokespersons pursuant to Article 47(d). h. Non-conflict. Neither Lessee nor any
Sublessee or Approved Encumbrancer, nor any other Person acting on its or their
behalf or in its or their interest, shall, directly or indirectly, employ,
retain, or pay bonuses, gratuities or other compensation, however characterized,
or make gifts or give perks to, any Spokesman, except only, with regard to the
payment of money, if the money is paid to SRPMIC for distribution pro rata
(consistent with allocations of Rent) among all Allotted Landowners which
comprise Lessor, and, with regard to nonmonetary gifts or perks, the same gift
or perk is made or given (or offered and available to) all Allotted Landowners
which comprise Lessor and written notice of the making or giving of any such
gift or perk is delivered to the Director, Community Development Department and
Office of the General Counsel of SRPMIC at the addresses set forth in Article
31. Spokespersons shall not have the authority to amend this item h. 48.
Covenants, Conditions and Restrictions. Covenants, conditions and restrictions,
which shall be submitted to and approved by the Community, may thereafter be
recorded by Lessee against the Leased Premises and shall be binding upon the
interests of Lessee, Lessor, Sublessees and Approved Encumbrancers in the Leased
Premises for the duration of the Lease Term. 49. Quiet Enjoyment. Lessor
warrants to Lessee as follows: 39

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A. That Lessor is the owner of equitable title to the Leased Premises, with fee
title held in trust by the United States; B. Lessor has good right to lease the
Leased Premises to Lessee for the Lease Term, subject to the approval of the
Secretary; and C. That if Lessee punctually and in accordance with the terms
hereof performs the obligations herein contained to be performed by Lessee,
Lessee shall have and enjoy, during the Lease Term, the quiet and undisturbed
use, possession and enjoyment of the Leased Premises, together with all
appurtenances thereto. Lessor shall indemnify Lessee and hold it harmless from
any and all claims, demands, costs and liabilities directly or indirectly
resulting from or caused by any third party claiming any title to or right of
possession of the Leased Premises or any right to receive any portion of the
rental to be paid by Lessee hereunder. 50. Severability. If any term or
provision of this Lease or the application thereof to any person or
circumstances shall, to any extent be invalid or unenforceable, (except those
which would substantially alter Lessee’s monetary obligations hereunder or which
would diminish Lessee’s obligations to develop the Leased Premises in accordance
with this Lease), the remainder of this Lease, or the application of such term
or provision to persons or circumstances other than those as to which it is held
invalid or unenforceable, shall not be affected thereby. Each term and provision
of this Lease shall be valid and enforced to the fullest extent permitted by
law. 51. Multiple Counterparts. This Lease may be executed in any number of
counterparts, and when so executed, all such counterparts shall constitute a
single instrument binding upon all parties hereto notwithstanding the fact that
all parties are not a signatory to the original or to the same counterpart. The
parties hereto agree that the signature pages from one or more counterparts may
be removed from such counterparts and such signature pages may be attached to a
single instrument so that the signature of all parties may be physically
attached to a single counterpart of this Lease. 52. Companies Bonding and
Insuring. To the extent applicable, all corporate surety bonds provided by
Lessee in accordance with the provisions of this Lease shall be furnished by
companies holding Certificates of Authority from the Secretary of the Treasury
as acceptable sureties of federal bonds. Insurance policies shall be furnished
and 40

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maintained by such responsible companies as are rated A- or better in the then
current edition of the Best’s Insurance Guide. 53. Compliance with Arizona
Subdivision Requirements. In order to develop and sublease the Leased Premises
in accordance with and in the manner provided for under this Lease, if it is
determined by the Lessee that compliance is necessary, the Lessee may comply
with the statutory requirements of A.R.S. § 32-2181 et seq., pertaining to the
lease .of subdivided lands in Arizona. The Lessor, the Community and the
Secretary shall execute, have acknowledged and deliver such documents and/or
instruments as are reasonably requested by Lessee to facilitate the Lessee’s
compliance with these statutory requirements; provided, however, that nothing
contained herein nor any action taken under this Article 53 shall be a
determination by the Lessor, Community or the Secretary of any claim by the
State of Arizona that A.R.S. § 32-2181 et seq. are application to the Leased
Premises. Lessee shall give written notice to the Community of its determination
under this Article 53 prior to the time that it may comply with the statutory
requirements, but the decision as to whether compliance is necessary shall be
within the sole and absolute discretion of Lessee. 54. Estoppel Certificates.
Lessor, Lessee, the Community and the Secretary shall, within thirty (30) days
after receipt of a written request therefor from any of the parties hereto, or
an Approved Encumbrancer or its surety, and at no cost and expense to the party
requesting the same, execute, have acknowledged and deliver to the requesting
party a statement in writing certifying: (i) that this Lease is unmodified and
in full force and effect (or, if there has been modifications, identifying such
modifications and certifying that the Lease, as modified, is in full force and
effect); (ii) the dates to which rentals hereunder have been paid; (iii) that
neither party is in default under any term, covenant or provision of this Lease
(or, if a party is in default specifying each such default); (iv) the address to
which notices to a party shall be sent; and (v) such other statements requested
in the request as may be true and correct. Lessor, Lessee, the Community and the
Secretary acknowledge that any such statement so delivered may be relied upon by
any third party dealing with the Lessor, the Lessee, the Community of the
Secretary, this Lease or the Leased Premises. 55. Environmental Protection
Requirements The Lessee shall strictly comply with all applicable Federal and
Community Environmental Laws. The Lessee is responsible for any costs incurred
in effecting such compliance with Environmental and related Laws regarding this
Lease, and for securing all necessary permits for any activity approved 41

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under the terms of this Lease. Environmental mitigation measures required by any
governmental authority having regulatory jurisdiction over the Leased Premises
shall be strictly adhered to by the Lessee. A. Definitions. (1) “CES” means the
Community’s Department responsible for cultural and environmental resources. (2)
“Environmental Laws” means any Community or applicable federal environmental
statute, common law duty, regulation, policy, procedure, standard or ordinance
now in effect or that may be promulgated in the future, as such statutes,
regulations, standards and ordinances may be amended from time to time, that
deal with the regulation or protection or pollution of the environment,
including the ambient air, groundwater, surface water, and land use, including
substrata land, and including but not limited to the following: Comprehensive
Environmental Response, Compensation and Liability Act of 1980 (“CERCLA”), 42
U.S.C. §9601, et seq.; the Resource Conservation and Recovery Act (“RCRA”) 42
U.S.C. §6901, et seq.; the Toxic Substances Control Act, 15 USC § 2601 et seq.
seq.; the Clean Air Act, 42 USC § 7401 et seq.; the Clean Water Act, (33 U.S.C.
§1362(6)); the Safe. Drinking Water Act, 42 USC § 3001 et seq.; the Emergency
Planning and Community Right-to-Know Act, 42 USC § 11001 et seq. the Hazardous
Materials Transportation Act, 49 U.S.C. §1801 et seq.; and any amendments to the
foregoing. B. Historic Preservation and Archeological Resources. The Lessee
acknowledges the particular relevance and applicability of Federal and Community
laws pertaining to the protection and preservation of historic and archeological
resources on Indian lands, which are widespread throughout the Community. Such
laws include, without limitation, the Historic Preservation Act of 1966, the
Archeological Resources Protection Act of 1979, the Native American Graves
Protection and Repatriation Act of 1991, and the Community’s Antiquities
Ordinance of 1986, Code § 19-1 et seq. Lessee agrees to strict compliance with
such laws for purposes of development and use of its Leased Premises and further
agrees, during the term of this Lease to notify CES immediately upon the
discovery or reasonable suspicion of the presence of archeological resources
within the Leased Premises. 42

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C. Hazardous Materials. (1) Definitions. (a) “Hazardous Materials Laws” means
all laws, ordinances, rules, decrees, orders, standards, procedures, policies or
regulations of any federal or Community governmental authority relating to
hazardous substances, hazardous materials, hazardous waste, toxic substances,
including but not limited to, CERCLA, RCRA, the Hazardous Materials
Transportation Act, 49 U.S.C. §1801 et seq. and any amendments to the foregoing.
(b) “Hazardous Materials” means: (1) hazardous materials, hazardous wastes, and
hazardous substances as those or similar terms are defined under any
Environmental Laws; (2) petroleum and petroleum products, including crude oil
and any fractions thereof; (3) natural gas, synthetic gas, and any mixture
thereof; (4) asbestos and/or any material which contains any hydrated mineral
silicate, including but not limited to chrysolite, amosite, crocidolite,
tremolite, anthopylite and/or actinolite, whether friable or non-friable; (5)
PCBs or PCB-containing materials or fluids; (6) radon; (7) explosives; (8)
radioactive materials; (9) toxic substances; (10) poly- chlorinated biphenyls
and similar materials; and any other substance or material with respect to which
any federal, state, local or Community Environmental Laws or governmental agency
requires environmental investigation, monitoring, regulation or remediation. (c)
Any reference to a specific statute, common law duty, regulation, policy,
procedure, standard or ordinance includes any amendment thereto or any successor
statute, common law duty, regulation, policy , procedure, standard or ordinance.
(2) Use. Lessee shall not allow any Hazardous Material to be used, generated,
released, stored or disposed of on the Leased Premises, unless: (i) such
Hazardous Materials are (a) used in the construction, repair or maintenance of
the Leased Premises, (b) used in normal commercial or retail applications, or
(c) sold as retail consumer products; (ii) such use in compliance with the
provisions of this Article 55, and (iii) Lessee gives prior notification of such
use to the CES, which may require periodic reporting by Lessee of such use. (3)
Compliance with Laws. Lessee’s use of Hazardous Materials on the Leased Premises
shall be in compliance with all Hazardous Materials and Environmental Laws.
Lessee shall obtain and maintain in full force and effect all permits licenses
and other governmental approvals required for Lessee’s use of Hazardous
Materials on the Leased Premises under such Hazardous Materials Laws and shall
comply with all terms and conditions thereof. Upon request, Lessee shall 43

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deliver copies of, or allow Lessor and Community to inspect, all such permits,
licenses and approvals. Lessee shall perform any monitoring, investigation,
clean-up, removal and other remedial work (collectively, “Remedial Work”)
required as a result of any release or discharge by Lessee of Hazardous
Materials on the Leased Premises or any violation of Hazardous Materials Laws by
Lessee. All MSDS sheets must be kept at the facility and made available upon
demand by the Community Lessee will promptly supply MSDS sheets to the CES upon
the receipt of the MSDS sheets from the supplier. (4) Compliance with Insurance
Requirements. Lessee shall comply with the requirements of its insurers
regarding the use of Hazardous Materials at the Leased Premises and with such
insurers’ recommendations based upon prudent industry practices regarding
management of Hazardous Materials. (5) Notice; Reporting. Lessee shall notify
the CES immediately (or no later than 9 a.m. the next business day if the
incident occurs on a weekend or holiday) by fax or telephone confirmed by
written notice within two (2) days, and the Lessor in writing within two (2)
days after any of the following: (a) a release or discharge by Lessee of any
Hazardous Materials and in addition Lessee shall notify the Community of any
immediately upon learning of such incident by calling the Community Development
Department-Environmental Protection and Natural Resources Division (“CDD-EPNR”)
Manager at (480) 362-7639 or on its hotline number at (480) 362-7500 and by
email at epnr@srpmic-nsn.gov (or its successor); (b) Lessee’s receipt of any
order of a governmental agency requiring any Remedial Work pursuant to any
violation by Lessee of Hazardous Materials Laws; (c) Lessee’s receipt of any
notice of violation by Lessee of any Hazardous Materials Law; (d) Lessee’s
receipt of notice of any claims made by any third party against Lessee relating
to any loss or injury resulting from the generation, release, storage or
disposal at the Leased Premises by Lessee of Hazardous Materials; or (e)
delivery to the Premises of Hazardous Materials from any source, to be reported
pursuant to the manifest requirements of 40 CFR § 261. Termination; Expiration.
Upon the termination or expiration of this Lease, Lessee shall remove from the
Leased Premises any equipment, improvements or storage facilities installed by
Lessee and utilized by Lessee in connection with any Hazardous Materials and
shall clean up, detoxify, repair, remediate, and otherwise restore Leased
Premises to a condition such that Hazardous Materials generated, released,
stored or disposed of by Lessee on the Leased Premises, if any, are not present
in concentrations requiring Remedial Work under Hazardous Materials Laws. 44

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D. Water Pollution Prevention. (1) Discharge or Spillage. Lessee’s approved
activities shall be performed by methods that are designed to preclude or
prevent the discharge or accidental spillage of pollutants, as that is defined
by the Clean Water Act (33 U.S.C. §1362(6)), into flowing or dry watercourses,
lakes, ponds, wetlands, any other waters of the United States, or underground
water sources within the Leased Premises. Lessee shall not deposit or stockpile
excavated, construction or industrial materials or debris within fifty (50) feet
of any watercourses within the Leased Premises. (2) Stormwater Runoff. Lessee
agrees to design and operate its business or approved activity in such a way
that stormwater runoff is contained and controlled as required by the Community.
Lessee shall comply with all applicable Environmental Laws pertaining to runoff,
including but not limited to, all applicable provisions pertaining to industrial
stormwater runoff in 33 USC § 1342(p). Lessee shall file for review with the CES
a copy of their storm water runoff plan. E. Solid Waste Disposal; Storage or
Industrial Liquids. (1) Solid Waste. It shall be Lessee’s responsibility to
arrange for disposal of all solid waste as defined by 42 U.S.C. §6903(27)
generated by Lessee or generated within the Leased Premises in a manner
consistent with Community and applicable Federal Environmental Law, including
but not limited to, 42 U.S.C. §6901 et seq. and 25 C.F.R. Part 258. Open
dumping, burial, or stockpiling of solid waste within the Leased Premises is
strictly prohibited. Lessee shall contain organic solid waste subject to
decomposition so as to prevent access by birds, animals or other disease
vectors, and shall arrange for haulage of all solid waste no less than once per
week to the Salt River Commercial Landfill or its successor. (2) Storage of
Industrial Liquids. In the event Lessee’s approved activity includes the above
ground or underground storage in tanks of regulated substances as defined in 42
U.S.C. §6951(2), Lessee shall comply strictly with the provisions of Community
Environmental Laws and 42 U.S.C. §6991 et seq. and all implementing regulations
thereto. Any proposed construction of such storage tanks by Lessee within the
Leased Premises shall be disclosed to Lessor and CES prior to the execution of
this Lease. In addition to the foregoing, no storage tank shall be located
within fifty (50) feet of any waterway, dry or flowing, and all such storage
tanks shall be placed within separate secondary protective, impermeable
containment whose performance equals or exceeds such liner as required by 40
C.F.R. §258.40. Lessee shall submit to the CES all Underground Storage Tanks
spill mitigation plans and pollution prevention measures, as well as compliance
review. 45

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F. Indemnification. (1) Lessee shall protect, indemnify, defend and hold
harmless Lessor, the Community and the Secretary for, from and against any and
all losses, claims, costs, fees, expenses, suits, damages, attorneys fees,
judgments, actions, investigation costs, remediation costs, consulting fees,
proceedings and liabilities in any way arising out of or from or in connection
with: (a) any breach by Lessee of any provisions of this Article 55; or (b)
arising out of the use, generation, storage, release, disposal or transportation
of Hazardous Materials by Lessee or its agents, contractors, employees, or
licensees; or (c) any release; threatened release, or disposal of any Hazardous
Material at or from the Leased Premises; or (d) the violation of any
Environmental Law at the Leased Premises; or (e) any environmental claim in
connection with the Leased Premises. 2. The indemnification and waiver shall be
binding upon the successors and assigns of Lessee and to the benefit of the
Lessor, the Community and the Secretary and their directors, officers, employees
and agents, and their successors and assigns. G. Entry and Inspection. Lessor,
the Community, the Secretary and their agents, employees and contractors, shall
have the right, but not the obligation, to enter the Leased Premises at all
reasonable times, upon advance notice reasonable to the circumstances, to
inspect Leased Premises and Lessee’s compliance with the terms and additions of
this Article 55. The foregoing notwithstanding, Lessor, the Community, the
Secretary and their agents, employees and contractors shall have the right to
inspect the areas of the Leased Premises that are open to the public at any time
the areas are open to the public without prior notice. Any such entry shall be
conducted in a manner that minimizes disruption of Lessee’s business on the
Leased Premises. 46

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H. Default Under Environmental Provisions. Lessee’s failure to comply with any
provisions under this Article 55 (not cured in accordance with the provisions of
Article 21 of this Lease) shall be a material default of this Lease which shall
entitle Lessor, the Community or the Secretary to all available remedies under
this Lease and otherwise. I. Survival of This. Section Lessee specifically
agrees that the obligations of Lessee, and of any of its successors and assigns,
under this section shall survive the expiration or termination of this Lease.
56. Confidentiality. The Lessor, Lessee, Community and Secretary mutually agree
to hold confidential the information supplied by either party to the other
pursuant to the terms of this Lease or other documents or information reasonably
deemed by either party to contain or constitute trade secret or proprietary
information, and designated as such. 57. Short Form of Lease. A Short Form of
Lease for purposes of recordation will be executed by the Lessee and the
Spokespersons for the Lessor. The Short Form of Lease will be filed in the
appropriate records offices for the purpose of providing notice of the existence
of this Lease. The Short Form of Lease shall contain only such information as is
required for recordation and as to such information shall accurately restate the
comparable information set out in this Lease. The Short Form of Lease shall not
amend or change the effect of this Lease. 47

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IN WITNESS WHEREOF, the Lessor and Lessee have executed this Lease as of the
date and year first above written. ORIGINAL LESSEE: APEX Park at Pima, L.L.C.,
an Arizona limited liability company: By: Name: Title: LESSEE: APEX 7400 NORTH
DOBSON, L.L.C., an Arizona limited liability company By: Name: Title: State of )
) ss. County of ) SUBSCRIBED AND SWORN To before me this ____ day of
_____________, 2017 by ___________________________. Notary Public My Commission
Expires 49

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COMMUNITY APPROVAL The AMENDED AND RESTATED SUBSTITUTE LEASE IN REFERENCE TO
BUSINESS LEASE B-704 between CERTAIN ALLOTTED LANDOWNERS OF LAND WITHIN THE SALT
RIVER PIMA-MARICOPA INDIAN COMMUNITY and APEX 7400 NORTH DOBSON, L.L.C., an
Arizona limited liability company is hereby approved by the Salt River-Pima
Maricopa Indian Community in accordance with its laws and the Master Lease. SALT
RIVER PIMA-MARICOPA INDIAN COMMUNITY By: Its: State of Arizona ) ) ss. County of
Maricopa ) The foregoing instrument was acknowledged before me, a notary public,
this ____ day of _____________, 2017 by ___________________________. Notary
Public My Commission Expires [SIGNATURES CONTINUED ON NEXT PAGE] 50

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Secretarial Approval Form UNITED STATES DEPARTMENT OF INTERIOR Bureau of Indian
Affairs Sal River Field Office 10000 East McDowell Road Scottsdale, AZ 85256 The
AMENDED AND RESTATED SUBSTITUTE LEASE IN REFERENCE TO BUSINESS LEASE B-704
between CERTAIN ALLOTTED LANDOWNERS OF LAND WITHIN THE SALT RIVER PIMA-MARICOPA
INDIAN COMMUNITY and APEX 7400 NORTH DOBSON, L.L.C., an Arizona limited
liability company is hereby approved pursuant to the authority delegated ot the
Assistant Secretary-Indian Affairs by 209 DM 8, to the Director of BIA by 230
DMA 1, to the Western Regional Director by3Iam 4, and to the Superintendent by
historic Phoenix Area Re-Delegation Documents in 10 BIAM. Superintendent, Salt
River Field Office Date Bureau of Indian Affairs Department of the Interior
State of Arizona ) ) ss. County of Maricopa ) The foregoing instrument was
acknowledged before me, a notary public, this ____ day of _____________, 2017 by
___________________________. Notary Public My Commission Expires 51

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EXHIBIT B LEGAL DESCRIPTION

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EXHIBIT C DRAFT EASEMENT AGREEMENTS

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WHEN RECORDED, RETURN TO: Procopio, Cory, Hargreaves & Savitch LLP 8355 E
Hartford Dr. #202 Scottsdale, AZ 85255 Attn: Kerry K. Patterson DECLARATION AND
GRANT OF EASEMENTS THIS DECLARATION AND GRANT OF EASEMENTS (this “Grant of
Easements”) is made as of the ____ day of ____________, 20___, by APEX PARK AT
PIMA, L.L.C., an Arizona limited liability company (“Declarant”), and by APEX
9500 EAST INDIAN BEND, LLC, an Arizona limited liability company (“9500 LLC”),
APEX 7350 NORTH DOBSON, L.L.C., an Arizona limited liability company (“7350
LLC”), APEX 7530 NORTH DOBSON, L.L.C., an Arizona limited liability company
(“7530 LLC”), and APEX 7500/7580 NORTH DOBSON ROAD, L.L.C., an Arizona limited
liability company (“7500/7580 LLC”) (each a “Grantor”, and collectively
“Grantors”). RECITALS A. Declarant is the ground lessee of that certain real
property in the Salt River Pima- Maricopa Indian Community, in Maricopa County,
Arizona, described in Exhibit A attached hereto and incorporated herein by this
reference (the “Master Ground Lease Property”), pursuant to that certain
Business Lease B-704 between certain Allotted Landowners of Land Within the Salt
River Pima-Maricopa Indian Community (named therein) as lessor (the
“Landowners”) and Declarant as lessee (referred to herein as the “Master Ground
Lease”) dated January 15, 2003, as amended by that certain First Amendment dated
November 7, 2016. B. Pursuant to that certain Amended and Restated Declaration
of Covenants, Conditions, Restrictions and Easements for Riverwalk executed by
Declarant and 7350 LLC June 10, 2008, recorded on July 15, 2008 as instrument
no. 20080616403 in the Official Records of the Maricopa County Recorder, and
which was duly amended by that certain First Amendment to Amended and Restated
Declaration of Covenants, Conditions, Restrictions and Easements for Riverwalk
on August 25, 2013, recorded on September 17, 2013 as instrument no. 20130832529
in the Official Records of the Maricopa County Recorder, and was further amended
by that certain Second Amendment to Amended and Restated Declaration of
Covenants, Conditions, Restrictions and Easements for Riverwalk on October 30,
2017, which was recorded on April 19, 2018 as instrument no. 20180295812 in the
Official Records of the Maricopa County Recorder and that certain Second Amended
and Restated Declaration of Covenants, Conditions, Restrictions and Easements
for Riverwalk recorded on September 14, 2018 as instrument no. 20180693825 in
the Official Records of the Maricopa County Recorder, and as may be amended in
the future (collectively “Amended Declaration”). Declarant has established
certain easements, conditions and restrictions with respect to the 1

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development of the Master Ground Lease Property. Defined terms used in this
Grant of Easement not otherwise defined herein shall have the meaning assigned
to such term in the Amended Declaration. C. Article 8 of the Master Ground Lease
allows Declarant, in connection with development of the Master Ground Lease
Property, to cause the Community to enter into a Substitute Lease, as defined in
the Master Ground Lease, wherein a party other than Declarant becomes the ground
lessee of a Lot included in the Master Ground Lease Property, causing such Lot
to be removed as property governed by the Master Ground Lease and to instead to
be governed by such Substitute Lease. D. Each Grantor (other than Declarant) is
the Ground Lessee under one or more of the following Substitute Leases: [Insert
Full Description of Each Substitute Lease], (collectively referred to as the
“Substitute Leases”). In addition to the Substitute Leases, Declarant has
executed that certain Substitute Lease B-704___ (the “Axon Substitute Lease”)
with APEX 7400 NORTH DOBSON, L.L.C. an Arizona limited liability company and its
successor and assigns (“Grantee”) as described on Exhibit B (the “Axon
Substitute Lease Property”). E. Declarant, 7350 LLC, 7500/7580 LLC and 7530 LLC
collectively are the Ground Lessees of the real property described on Exhibit C
attached hereto (the “North Access Easement Area”), and desire to declare and
grant an easement over and across the North Access Easement Area for private
road access to public streets for the benefit of all Ground Lessees and for all
Ground Lease Subtenants. F. Declarant and 9500 LLC collectively are the Ground
Lessees of the real property described on Exhibit D attached hereto (the “South
Access Easement Area”), and desire to declare and grant an easement over and
across the South Access Easement Area for private road access to public streets
for the benefit of all Ground Lessees and for all Ground Lease Subtenants. NOW
THEREFORE, in furtherance of the foregoing recitals, Declarant and Grantors
hereby grant and declare, as follows: 1. Grant of Easements. (a) Declarant and
Grantors hereby declare, grant and convey unto each Ground Lessee and to each
Ground Lease Subtenant, and each of their successors and assigns, and their
respective partners, members, directors, officers, employees, tenants,
subtenants, agents, contractors, licensees and invitees, and any lawful occupant
of the Master Ground Lease Property, Axon Substitute Lease Property or any
portion thereof, an appurtenant, non-exclusive access, ingress and egress
easement on, over and across the North Access Easement Area and South Access
Easement Area to be used for street and roadway purposes, and pedestrian and
vehicular ingress and egress to and from any portion of the Master Ground Lease
Property and to and from Dobson Road and Talking Stick Way (formerly known as
Indian Bend Road) and all other publicly dedicated streets and rights-of-way
furnishing access to any portion of the Master Ground Lease Property. Nothing
contained in this Grant of Easements shall be deemed to grant, 2

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convey or reserve unto any party or other person an easement, license or right
to park vehicles upon the North Access Easement Area or the South Access
Easement Area. (b) Declarant and Grantors hereby declare, grant and convey unto
each Ground Lessee and to each Ground Lease Subtenant, and each of their
successors and assigns, and their respective partners, members, directors,
officers, employees, tenants, subtenants, agents, contractors, licensees and
invitees, and any lawful occupant of the Master Ground Lease Property, Axon
Substitute Lease Property or any portion thereof, a perpetual non-exclusive
easements through, over, under, across and on certain portions of the Master
Ground Lease Property described on Exhibit E attached hereto (the “Utility
Easements”) for gas, electrical, communications, water, storm and sanitary sewer
lines and systems and other utilities serving the Axon Substitute Leased
Property. Such utility easements shall include the right to cross the Master
Grant Lease Property as shown on Exhibit E, and to construct, replace, modify,
relocate, repair and maintain such utility lines and facilities as may be
reasonably necessary to enjoy the benefit of the utility easements granted by
this Agreement. In addition, Grantee shall have the right to connect the utility
and sewer lines serving the Axon Substitute Lease Property to the utility and
sewer lines serving the Master Ground Lease Property and property of the other
Substitute Leases. All construction, replacement, modification, relocation,
repair and maintenance of such utility and sewer lines shall be performed in
accordance with the Amended Declaration and in such a manner as does not
unreasonably interfere with the normal and usual operation of the Declarant and
Grantors. In the event Grantee makes such replacements or repairs it shall
promptly restore all paving, landscaping and any other improvements disturbed
thereby to its former condition as near as possible at its sole cost and
expense. (c) The easements granted in this Section 1 are collectively referred
to hereinafter as the “Easements.” 2. Duration of Easements. The Easements
herein shall automatically terminate upon the later of the date of termination
or expiration of (i) the Axon Substitute Lease, (ii) the Master Lease, or (iii)
the other Substitute Leases. 3. Reasonable Use of Easement Areas. The Easements
shall be used and enjoyed in such a manner as to not unreasonably interfere with
the use and enjoyment of the Master Ground Lease Property. 4. Run with Land. The
Easements, covenants, conditions and restrictions, and the other provisions of
this Grant of Easements shall run with and be appurtenant to the Master Ground
Lease Property, and shall bind the Landowners, Declarant and each Grantor and
their respective heirs, executors, legal representatives, successors-in-title
and assigns, and all those (including mortgagees and tenants) now and hereafter
holding under Declarant or a Grantor. The Landowners, hereby acknowledge and
agree that if the Master Ground Lease, or any Substitute Lease, is terminated
prior to the expiration of the Axon Substitute Lease, or if Landowners acquire
the Leasehold Interest in the Master Ground Lease Property or Substitute Leases,
that this Agreement and the Easements shall remain in full force and effect and
shall remain binding on the Landowners and Grantee and their successor and
assigns. 3

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5. Use of Property. Nothing contained herein shall be deemed to limit the rights
of Declarant or a Grantor, or their respective successors and assigns, to grant
other easements, rights, privileges and licenses on, across, over or under their
respective properties, so long as such other easements, rights, privileges and
licenses do not interfere with or adversely affect the use and enjoyment of the
Easements and rights granted herein. 6. No Dedication. The Easements granted
hereunder is solely for the purposes described herein and nothing in this Grant
of Easements is intended to create, nor shall be deemed or construed to create,
any rights in the general public to use the Easements area or any other portion
of the Master Ground Lease Property. 7. Integration; Modification. This Grant of
Easements constitutes the entire declaration and grant pertaining to the subject
matter hereof and all prior or contemporaneous agreements and understandings,
oral or written, are hereby superseded and merged herein. The provisions hereof
may be abrogated, modified, rescinded or amended in whole or in part only by
written instrument executed by the parties hereto and recorded in the
appropriate records office for purposes of providing notice of the existence of
this Agreement. 8. Mortgagee Protection. No breach of any of the covenants and
restrictions, nor the enforcement of any remedy provisions contained in this
Grant of Easements shall render invalid the lien of any mortgage, deed of trust,
or other lien against any property of Declarant or a Grantor made in good faith
and for value. All of the covenants and restrictions herein contained shall be
binding upon and effective against any successor whose title is derived through
foreclosure, trustee sale, or deed in lieu thereof or otherwise, except as
provided herein. 9. Severability. Every provision of this Grant of Easements is
hereby declared to be independent of, and severable from, every other provision.
If any provision is held to be invalid or unenforceable, that holding shall be
without effect upon the validity or enforceability of any other provision of
this Grant of Easements. 10. Attorneys’ Fees. If suit is brought to enforce or
interpret any part of this Grant of Easements, the prevailing party shall be
entitled to recover from the non-prevailing party its reasonable attorneys’
fees, court costs, expert witness fees and other litigation-related expenses.
11. Dispute and Attorneys’ Fees. Axon Substitute Lease Section 39 is hereby
incorporated into this Grant of Easements and all disputes shall be brought by
the Parties in accordance with that Section 39 as incorporated into this
Agreement. If arbitration or suit is brought to enforce or interpret any part of
this Grant of Easements, the prevailing party shall be entitled to recover from
the non-prevailing party its reasonable attorneys’ fees, court costs, expert
witness fees and other litigation-related expenses. 12. Miscellaneous. No delay
or failure by any party to exercise any right under this Grant of Easements will
constitute a waiver of that or any other right granted hereunder. Declarant and
Grantors shall execute promptly such other documents and perform such other acts
as may be reasonably necessary to carry out the purpose and intent of this Grant
of Easements. All exhibits attached hereto are by this reference incorporated
herein. This Grant of 4

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Easements may be executed in two or more counterparts and each such counterpart,
when taken together with all other counterparts, shall be deemed one and the
same original instrument. [SIGNATURES PAGES FOLLOW] 5

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IN WITNESS WHEREOF, Declarant and Grantors have executed this Declaration and
Grant of Easements to be effective as of the date first set forth above.
DECLARANT: APEX PARK AT PIMA, L.L.C., an Arizona limited liability company By:
Alter Park at Pima, L.L.C., a Delaware limited liability company, its Manager
By: 18 Chai Corp., an Illinois corporation, its Manager By: Name: Title: STATE
OF ) ) ss. County of ) The foregoing instrument was acknowledged before me this
_____ day of ____________, 20___, by _____________________, as
_____________________ of 18 Chai Corp., an Illinois corporation and manager of
Alter Park at Pima, L.L.C., a Delaware limited liability company and manager of
Apex Park at Pima, L.L.C., a Delaware limited liability company, on behalf of
the limited liability company. Notary Public [Declarant Signature Page to
Declaration and Grant of Easement Business Lease B-704]

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GRANTOR: APEX 9500 EAST INDIAN BEND, L.L.C., an Arizona limited liability
company By: Alter Park at Pima, L.L.C., a Delaware limited liability company,
its Manager By: 18 Chai Corp., an Illinois corporation, its Manager By: Name:
Title: STATE OF ) ) ss. County of ) The foregoing instrument was acknowledged
before me this _____ day of ____________, 20___, by _____________________, as
_____________________ of 18 Chai Corp., an Illinois corporation and manager of
Alter Park at Pima, L.L.C., a Delaware limited liability company and manager of
Apex 9500 East Indian Bend, L.L.C., a Delaware limited liability company, on
behalf of the limited liability company. Notary Public [Grantor Signature Page
to Declaration and Grant of Easement Business Lease B-704]

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GRANTOR: APEX 7350 NORTH DOBSON L.L.C., an Arizona limited liability company By:
Alter Park at Pima, L.L.C., a Delaware limited liability company, its Manager
By: 18 Chai Corp., an Illinois corporation, its Manager By: Name: Title: STATE
OF ) ) ss. County of ) The foregoing instrument was acknowledged before me this
_____ day of ____________, 20___, by _____________________, as
_____________________ of 18 Chai Corp., an Illinois corporation and manager of
Alter Park at Pima, L.L.C., a Delaware limited liability company and manager of
Apex 7350 North Dobson L.L.C., a Delaware limited liability company, on behalf
of the limited liability company. Notary Public [Grantor Signature Page to
Declaration and Grant of Easement Business Lease B-704]

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GRANTOR: APEX 7530 NORTH DOBSON L.L.C., an Arizona limited liability company By:
Alter Park at Pima, L.L.C., a Delaware limited liability company, its Manager
By: 18 Chai Corp., an Illinois corporation, its Manager By: Name: Title: STATE
OF ) ) ss. County of ) The foregoing instrument was acknowledged before me this
_____ day of ____________, 20___, by _____________________, as
_____________________ of 18 Chai Corp., an Illinois corporation and manager of
Alter Park at Pima, L.L.C., a Delaware limited liability company and manager of
Apex 7530 North Dobson L.L.C., a Delaware limited liability company, on behalf
of the limited liability company. Notary Public [Grantor Signature Page to
Declaration and Grant of Easement Business Lease B-704]

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GRANTOR: APEX 7500/7580 DOBSON ROAD, L.L.C., an Arizona limited liability
company By: Alter Park at Pima, L.L.C., a Delaware limited liability company,
its Manager By: 18 Chai Corp., an Illinois corporation, its Manager By: Name:
Title: STATE OF ) ) ss. County of ) The foregoing instrument was acknowledged
before me this _____ day of ____________, 20___, by _____________________, as
_____________________ of 18 Chai Corp., an Illinois corporation and manager of
Alter Park at Pima, L.L.C., a Delaware limited liability company and manager of
Apex 7500/7580 North Dobson Road, L.L.C., a Delaware limited liability company,
on behalf of the limited liability company. Notary Public [Grantor Signature
Page to Declaration and Grant of Easement Business Lease B-704]

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FORM OF SPOKESPERSONS SIGNATURE PAGE ATTACHED TO AND FORMING A PART OF THIS
DECLARATION AND GRANT OF EASEMENT (THE “AGREEMENT”) IS THE WITNESSED AND
NOTARIZED SIGNATURE OF THE FOLLOWING SPOKESPERSONS: I, the undersigned
Spokesperson for the Landowners, approve of, consent to and join in the
execution of the Agreement as a Spokesperson for the Landowners, I, the
undersigned a Spokesperson for the Landowners, sign my name to the Agreement on
the date noted below. I, the undersigned Spokesperson for the Landowners, hereby
approve of the Easements as set forth in Section 1 for Lease Term under the Axon
Substitute Lease. Date: ___________, 201__ __________________, as Spokesperson
for the Landowners ID Number: SRAL No. STATE OF ARIZONA ) ) ss. County of
Maricopa ) Subscribed, sworn to and acknowledged before me by
_____________________, the Landowner, this ____ day of ______________, 201___.
Notary Public [Spokesperson Signature Page to Declaration and Grant of Easement
Business Lease B-704]

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COMMUNITY APPROVAL THE WITHIN DECLARATION AND GRANT OF EASEMENTS IS HEREBY
APPROVED BY THE COMMUNITY IN ACCORDANCE WITH THE GROUND LEASE AND ALL APPLICABLE
LAWS: SALT RIVER PIMA-MARICOPA INDIAN COMMUNITY By: Its: STATE OF ARIZONA ) )
ss. County of Maricopa ) On this _____ day of ______________, 20__, before me
personally appeared ___________________________________, to me known to be the
authorized representative of the Salt River Pima- Maricopa Indian Community, for
the purposes stated therein. Notary Public (Seal) [SRPMIC Signature Page to
Declaration and Grant of Easement Business Lease B-704]

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Exhibit A Master Ground Lease Property

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Exhibit B Axon Substitute Lease Property

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Exhibit C North Access Easement Area

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Exhibit D South Access Easement Area

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Exhibit E Utility Easements Location

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EXHIBIT D SITE ACCESS AND INDEMNIFICATION AGREEMENT

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SITE ACCESS AND INDEMNIFICATION AGREEMENT This Site Access and Indemnification
Agreement (the “Agreement”) dated this 13th day of December, 2018 is by and
among APEX Park at Pima , LLC, an Arizona limited liability company and its
Assignee (“Licensor”) and AXON Enterprise Holding Company, LLC, a Delaware
limited liability company, or its affiliate (“Licensee”), with an office at
17800 North 85th Street, Scottsdale, AZ 85255. RECITALS: A. Licensor is the
Lessee of that certain unimproved real property consisting of approximately
28.57 net acres of land located at 7400 North Dobson Road, Scottsdale, Arizona
85256 and as further described in Exhibit “B” (the “Property”). B. Licensor
wishes to grant Licensee access to the Property in order to allow Licensee to
assess the physical, environmental, engineering, and financial aspects of the
Property for purposes of entering into a Purchase and Sale Agreement all as set
forth herein. C. Licensee has or will retain third party experts (collectively,
“Licensee’s Consultants”) to perform assessments of the environmental,
engineering, and physical condition aspects of the Property. D. Licensor wishes
to grant to Licensee a license to conduct such assessments subject to certain
conditions and requirements. NOW, THEREFORE, in consideration of the mutual
covenants and promises contained herein, the parties agree as follows: 1.
Non-Exclusive License. (a) Licensor hereby grants to Licensee a temporary
non-exclusive license, subject to the terms hereof, to enter upon that portion
of the Property for the purpose of conducting at Licensee’s sole expense,
through Licensee’s Consultants, the activities on the Property specifically
described (as to location, type of tests, and the like) in Exhibit “A” attached
hereto and made a part of this Agreement (the “Due Diligence Activities”). (b)
The license granted herein shall continue in force, subject to Licensor’s right
of revocation described below, until the earliest of (“License Term”): (i) the
completion of the Due Diligence Activities; (ii) written notice to Licensee by
Licensor, (iii) written notice to Licensor by Licensee (iv) the commencement of
any written contract to lease the Property which is entered into by Licensee and
Licensor. (c) The temporary non-exclusive license to enter and conduct the Due
Diligence Activities upon the Property granted to Licensee does not constitute
the grant of an easement or any other interest in the Property.

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2. Licensee’s Consultants. (a) Licensee agrees that the Due Diligence Activities
shall be performed solely by Licensee, through Licensee’s Consultants, as
Licensee’s special agent, and no other person or entity may perform such
activities without the prior written consent of Licensor. (b) Licensee agrees to
provide this Agreement to Licensee’s Consultants and advise Licensee’s
Consultants that Licensee and Licensee’s Consultants are bound by the terms of
this Agreement. 3. Access to the Property (a) Licensee, through Licensee’s
Consultants, shall conduct the Due Diligence Activities only during normal
business hours and Licensor shall have the right to impose reasonable conditions
on performance of the Due Diligence Activities (including, without limitation,
reasonable schedule modifications so as to minimize disturbances at the
Property), including those specified in Exhibit “A”. (b) Licensee shall be
solely responsible at its own cost for the temporary construction and
maintenance of any improvements at the Property, which are required in order to
conduct the Due Diligence Activities. No permanent improvements are permitted.
(c) Licensee shall give Licensor reasonable prior notice before conducting the
Due Diligence Activities, including locations and times at which the activities
will take place. (d) Licensee agrees that entry upon the Property shall be
limited to the extent necessary for the performance of the Due Diligence
Activities and shall otherwise be limited as provided herein. 4. Equipment. (a)
In connection with conducting the Due Diligence Activities, Licensor hereby
agrees that Licensee’s Consultants, as special agent of Licensee, may bring onto
the Property the equipment and machinery, if any, reasonably necessary to
perform the Due Diligence Activities, but no other equipment or machinery. (b)
Licensee agrees to maintain equipment and other materials in an orderly manner
while they are located on the Property. Licensee agrees to remove all debris and
trash resulting from the Due Diligence Activities on a daily basis and to remove
all equipment and other materials used by Licensee’s Consultants as soon as the
activity for which such equipment and other materials are used is completed. 5.
Safety; Restoration. (a) Licensee shall take all appropriate measures for the
safety of persons on the Property and shall comply with all legal requirements.
- 2 -

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(b) Upon completion of the Due Diligence Activities, Licensee shall restore the
Property to substantially the same condition as at the commencement of the Due
Diligence Activities and including, but not limited to repair of surface
openings resulting from tests. 6. Wastes. Any and all samples, sample residues,
by-products from the sampling process, extracts, well purgings, core borings and
hazardous and other wastes (collectively, “Wastes”) derived from the Due
Diligence Activities (including, without limitation, any contaminated protective
clothing or other materials used in performing the Due Diligence Activities)
when removed from the Property shall be deemed the Property of Licensee and
shall be transported and disposed of by Licensee in accordance with applicable
law. 7. Indemnity. Licensee shall indemnify, defend, save and hold Licensor and
Licensor’s officers, agents, employees, directors, trustees, invitees,
successors, and assigns (collectively “Indemnitees”) harmless against all
losses, costs, expenses, liabilities, claims, litigation, demands, proceedings
and damages (including but not limited to reasonable attorneys’ fees actually
incurred) suffered or incurred by Licensor or any such Indemnitees arising out
of the Due Diligence Activities. Licensee waives any claims against Licensor
arising out of the Due Diligence Activities or this Agreement. Licensee hereby
assumes all responsibility for claims arising out of or incurred in connection
with the Due Diligence Activities or this Agreement against Licensor by
Licensee’s Consultants, and the contractors, subcontractors, employees, and
agents of Licensee and Licensee’s Consultants. Notwithstanding the foregoing,
Licensee shall have no responsibility or liability for (i) any adverse condition
or defect on or affecting the Property not caused or contributed to by Licensee
or its employees, agents, consultants or contractors but merely discovered
during their inspections (including, without limitation, the pre-existing
presence or discovery of any matter, such as, but not limited to, hazardous
substance or material); (ii) the results or findings of any inspection; (iii)
Licensee’s election to terminate this Agreement as a result of any inspection
pursuant to this Agreement; or (iv) the gross negligence or intentional and
willful acts of Licensor or any of its officers, directors, agents, contractors,
servants, employees, licensee or invitees. 8. Insurance. (a) Licensee shall,
during the term of this Agreement and at all times during which access is
available to it, maintain, and require Licensee’s Consultants and its
subcontractors and agents to maintain insurance, in form and substance
reasonably satisfactory to Licensor, with insurance companies reasonably
acceptable to Licensor, the following insurance: (i) Comprehensive General
Liability or Commercial General Liability Insurance, in an amount of not less
than $5,500,000. $500,000 of this coverage shall be in the form of primary
coverage and the remaining $5,000,000 shall be pursuant to an umbrella liability
insurance policy of not less than $5,000,000, combined single limit, per
occurrence. (b) Each policy of insurance shall: (i) Name Licensor and any other
affiliate or subsidiary to which this Agreement may be assigned by Licensor as
additional insureds; - 3 -

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(ii) State that such policy is primary and noncontributing with any insurance
carried by Licensor; (iii) Contain a provision that the naming of the additional
insured shall not negate any right the additional insured would have had as a
claimant under the policy if not so named; and (iv) Shall contain severability
of interest and cross-liability clauses. (c) A certificate, together with any
endorsements to the policy required to evidence the coverage which is to be
obtained hereunder, shall be delivered to Licensor simultaneously with the
execution and delivery of this Agreement. Licensee will provide Licensor no less
than thirty (30) days’ prior written notice in the event of any material
alteration to or cancellation of the coverages evidenced by said certificate. A
renewal certificate for each of the policies required in this Section shall be
delivered to Licensor within three (3) days following the expiration date of the
term of such policy. (d) Any policies required by the provisions of this Section
may be made a part of a blanket policy of insurance with a “per project, per
location endorsement” so long as such blanket policy contains all of the
provisions required herein and does not reduce the coverage, impair the rights
of the other party to this Agreement or negate the requirements of this
Agreement. 9. Privileged Information. (a) During the course of the performance
of the Due Diligence Activities, Licensee may acquire knowledge concerning
environmental problems that exist at the Property, other knowledge concerning
the Property or Licensor, or knowledge of other matters of a sensitive business
nature (collectively, “Privileged Information”). (b) Except as described below,
neither Licensee, nor Licensee’s Consultants shall disclose to any third party
(other than Licensee’s lenders or investors), publicize or suffer or permit any
of its employees to so disclose or publicize any such Privileged Information. In
the event that Licensee believes in good faith that it is required by any legal
requirement to disclose any such Privileged Information, then Licensee shall
immediately notify Licensor of such belief and the reasons for such belief. If
Licensor, within ten (10) days after receipt of such notice, advises the party
that sent the notice that Licensor shall itself disclose the information, then
Licensee shall not make such disclosure (unless either such party reasonably
believes that it must disclose such information by law). If Licensee reasonably
believes that such disclosure is required to be made in less than the 10-day
period, then the notice to Licensor shall so state, and Licensor ’s time to
respond will be reduced accordingly. Licensee agrees to provide this Section of
this Agreement to Licensee’s Consultants and notify Licensee’s Consultants that
Licensee and Licensee’s Consultants are bound by the terms of this Section.
Licensee shall be responsible for any disclosure or publication of Privileged
Information by Licensee’s Consultants in violation of the terms hereof. 10.
Survival. The obligations of Licensee in Sections 7, 9, and 12 shall survive
termination of the license granted hereunder and any termination of this
Agreement. Other - 4 -

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Licensee obligations of this Agreement shall survive the expiration of the
License Term or termination of the license granted hereunder for a period of two
(2) months following expiration of the License Term or termination of this
Agreement, as applicable. 11. Default. In the event that any default by Licensee
hereunder is not cured after five (5) business days written notice from Licensor
of such default, Licensor may, by notice to Licensee, immediately terminate the
license granted hereunder. 12. Liens. Licensee shall not allow any lien to be
placed on the Property in connection with any Test or any entry on the Property
by Licensee or Licensee’s agents or contractors. Licensee shall indemnify and
hold harmless Licensor from and against claims, damages, losses and expenses,
including but not limited to reasonable attorneys’ fees, arising out of or
resulting from any Due Diligence Activities. If any lien is filed against the
Property on account of the Due Diligence Activities, Licensee shall bond for or
discharge the same within ten (10) business days after the filing thereof. 13.
Notices. All notices, consents, approvals, acceptances, demands, waivers and
other communications (“Notice”) required or permitted hereunder must be in
writing and must be sent by (i) personal delivery, (ii) certified mail, return
receipt requested, (iii) for next day delivery by nationally recognized
overnight delivery service that provides evidence of the date of delivery, or
(iv) electronic mail, in any case with all charges prepaid, addressed to the
appropriate party at its address listed below. To Licensor: APEX Park at Pima,
L.L.C. c/o The Alter Group, Ltd. 7500 N. Dobson Road, Suite 151 Scottsdale, AZ
85256 Attn: Kent Moe, Senior Vice President Email: kmoe@altergroup.com To
Licensee: AXON Enterprise Holding Company, LLC 17800 North 85th Street
Scottsdale, AZ 85255 Attention: Doug Klint, General Counsel Email: doug@axon.com
All Notices given in accordance with this Section will be deemed to have been
received three (3) business days after having been deposited in any mail
depository regularly maintained by the United States Postal Service, if sent by
certified mail, on the date delivered if by personal delivery or electronic mail
or on the date on which the Notice is deposited with a nationally recognized
overnight delivery service, if sent by overnight delivery, or on the date
delivery is refused, as indicated on the return receipt or the delivery records
of the delivery service, as applicable. Notices given by counsel to a party in
accordance with the above shall be deemed given by such party. 14. Severability.
If any term in this Agreement shall be deemed unenforceable, such term shall be
deemed independent from the remainder of this Agreement, the enforceability of -
5 -

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which shall in no way be affected thereby, and the term in question shall be
deemed to be rewritten so as to be enforceable to the fullest extent possible
consistent with the intention of the parties. 15. Amendments. No purported
alteration, amendment, change, waiver, termination or other modification of this
Agreement shall be binding upon any of the parties hereto or have any other
force or effect in any respect or particular, unless the same shall be in
writing and signed by or on behalf of the parties to be charged therewith. 16.
Merger. All prior understandings and agreements among the parties are merged in
this Agreement, which alone fully and completely express the understandings
among the parties thereto and which are entered into after full investigation.
This Agreement shall be given a fair and reasonable construction in accordance
with the intention of the parties hereto and without regard to or aid of canons
requiring construction against the party responsible for the drafting of the
same. 17. Non-Waiver. No failure or delay of any party in the exercise of any
right given to such party hereunder, or the waiver by any party of any condition
hereunder for its benefit, shall constitute a waiver of any other or further
right, nor shall any single or partial exercise of any right preclude other or
further exercise thereof or any other right. The waiver of any breach hereunder
shall not be deemed to be a waiver of any other or subsequent breach hereof. 18.
Waiver of Trial by Jury. The respective parties hereto shall and they hereby do
waive trial by jury in any action brought by any of the parties hereto against
another on any matters whatsoever arising out of or in any way connected with
this Agreement. The parties shall endeavor to resolve any disputes under this
Agreement by mediation which, unless the parties mutually agree otherwise, shall
be administered by the American Arbitration Association in accordance with Real
Estate Industry Rules in effect on the date of the Agreement. A request for
mediation shall be made in writing, delivered to the other party to this
Agreement, and filed with the person or entity administering the mediation. 19.
Non-Assignability. This Agreement and the privileges of Licensee hereunder may
not be assigned by Licensee. 20. No Agreement of Lease. The parties hereto do
hereby acknowledge and agree that nothing contained herein shall constitute an
acknowledgment or agreement by Licensor to lease the Property to Licensee, such
lease being accomplished only following the entering into of a specific Ground
Sublease agreement between Licensor and Licensee in accordance with Licensor
having obtained requisite approval and corporate authorization. 21.
Counterparts. This Agreement may be executed in one or more counterparts each
counterpart of which shall constitute an executed agreement. 22. Applicable Law.
The parties hereto do hereby agree that this Agreement and the rights and
obligations of the parties hereto shall be governed by the laws and jurisdiction
of the State of Arizona. - 6 -

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23. E-mail or PDF Signatures. Signatures to this Agreement transmitted by e-mail
or PDF shall be valid and effective to bind the party so signing provided that a
copy of the electronic mail or PDF also is sent to the intended addressee by one
of the means described in clauses (i) through (iii) of Section 13 above, in any
case with all charges prepaid, addressed to the appropriate party at its address
listed above. Delivery of the execution original to the Agreement or any e-mail
signature or PDF page thereof may be given on behalf of a party by the attorney
of such party. IN WITNESS HEREOF, the parties have duly executed this Agreement
as of the date firstset forthabove. LICENSOR: APEX Park at Pima, L.L.C., an
Arizona limited ilicy c y : � : � � Name: ------Samuel F.-- Gould--- -- Title:--
------Vice President--- --- LICENSEE: AXON Enterprise Holding Company, LLC, a
Delaware limited liability company By: ____________ Name: Jawad Ahsan Title:
Chief Financial Officer - 7 -

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EXHIBIT “A” DUE DILIGENCE ACTIVITIES Licensor agrees to provide Licensee access
to the Property during the License Term for the limited purpose of performing at
Licensee’s sole cost and expense, except as provided herein: 1. Physical
Inspections. Licensee shall be granted access to the Property to perform
studies, physical inspections, investigations and tests on the Property (each a
“Test” and, collectively, the “Tests”); provided, however, that Licensee shall
not perform or allow any Phase II environmental site assessment or other
intrusive or invasive testing of the Property (collectively, a “Phase II”)
without providing Licensor five business (5) days’ notice (the “Phase II
Notice”) and obtaining Licensor ’s prior written consent, which may be withheld
in Licensor ’s discretion. The Phase II Notice shall include the following: (i)
the proposed date and time of the Phase II; (ii) a detailed description of each
of the proposed tests and intrusive acts to be performed as part of the Phase
II; (iii) the proposed location of each site of such tests and intrusive acts;
(iv) the work to be performed to repair and restore any damage to the Property;
and (v) the total amount of time required for the Phase II and such repair and
restoration work. Any Phase II shall be performed in accordance with the
description provided in the applicable Phase II Notice, except, if Licensor
determines in its discretion that the Phase II and related repair and
restoration work described in the Phase II Notice will unreasonably affect the
Property, Licensee shall comply with Licensor’s reasonable requests to change
the date, time, nature, location and/or duration of the Phase II and/or related
repair and restoration work. Licensor shall have the right to have a
representative of Licensor present for any inspections performed by Licensee
pursuant to this Agreement. In the event that such Phase II is recommended and
Licensor elects not to terminate this Agreement, Licensee shall cause the Phase
II to be conducted at Licensor’s sole cost and expense. Prior to issuing any
Phase II Environmental reports, Licensee shall provide a clearly marked draft
version of such report. Licensor shall than be given five (5) business days to
review and, if appropriate, comment on the draft report. At Licensors absolute
discretion, Licensor shall have the opportunity to cease all testing and related
work and (a) no further work shall be conducted and, (b) no final report shall
be issued.

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EXHIBIT “B” LEGAL DESCRIPTION OF PROPERTY - 9 -

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- 10 -

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- 11 -

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EXHIBIT E SITE PLAN / PRE-APP PLANS

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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[…***…] The mark *** indicates that text has been redacted pursuant to a request
for confidential treatment under Rule 24b-2 of the Securities Exchange Act of
1934 and filed separately with the Securities and Exchange Commission.

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EXHIBIT F-1 ACCESS IMPROVEMENTS

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EXHIBIT F-2 WATER/SEWER IMPROVEMENTS

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EXHIBIT F-3 ELECTRIC/GAS/TELEPHONE IMPROVEMENTS

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EXHIBIT G ASSIGNMENT OF SUBSTITUTE LEASE Form of Assignment of Substitute Lease
to be approved and finalized during the Due Diligence Period and placed into
Escrow by Seller and Buyer

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RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Kerry K. Patterson Procopio
8355 E. Hartford Drive, Suite 202 Scottsdale, AZ 85255 (Above Space for
Recorder’s Use Only) ASSIGNMENT AND ASSUMPTION OF SUBSTITUTE LEASE THIS
ASSIGNMENT AND ASSUMPTION OF SUBSTITUTE LEASE (this “Assignment”) is entered
into as of _______________________________, 2018, between
________________________________________, an Arizona limited liability company
(“Assignor”), and _______________________________________, an Arizona limited
liability company (“Assignee”). RECITALS A. Assignor and Assignee are seller and
buyer, respectively, under that certain Purchase and Sale Agreement dated as of
___________________________ (the “Purchase Agreement”), pursuant to which
Assignor will transfer to Assignee its Substitute Lease interest in certain
improved real property which is described on Exhibit A attached hereto (the
“Property”). B. Assignor is the owner of the Lessee’s interest pursuant to that
certain Substitute Lease, dated ___________________________, a memorandum of
which is recorded as Instrument No. _____________________, Official Records of
Maricopa County, Arizona, and approved on ___________________________, by the
Superintendent, Salt River Field Office, on behalf of the Secretary of the
Department of the Interior, Bureau of Indian Affairs and filed as Document No.
___________________with the Bureau of Indian Affairs Land, Titles and Records
Office (the Official recordation entity) in Albuquerque, New Mexico (the
“Substitute Lease”), which Substitute Lease relates solely to the Property. C.
Assignor desires to assign its interest as the Lessee in, to and under the
Substitute Lease to Assignee, and Assignee desires to assume certain rights and
obligations of Assignor as the Lessee under the Substitute Lease, all as more
particularly set forth below. NOW, THEREFORE, in consideration of the covenants
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

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1. Effective as of the date this Assignment is recorded in the Official Records
of Maricopa County, Arizona (the “Effective Date”), Assignor hereby assigns,
transfers and conveys to Assignee all of Assignor’s right, title and interest as
Lessee in, to and under the Substitute Lease, subject to all of the terms,
covenants, conditions and provisions hereof and thereof. 2. Assignee hereby
accepts the foregoing assignment and hereby assumes and agrees to perform all of
the obligations of Assignor as the Lessee under the Substitute Lease, so long as
such obligations are first arising and required to be performed from and after
the Effective Date. 3. Assignor shall indemnify, pay, defend and hold Assignee
harmless for, from, and against any liabilities, obligations, actions, suits,
proceedings or claims, and all costs and expenses (including, without
limitation, reasonable attorneys’ fees) incurred in connection with the
Substitute Lease based upon or arising out of any act, occurrence, or omission
occurring or alleged to have occurred prior to the Effective Date. 4. Assignee
shall indemnify, pay, defend and hold Assignor harmless for, from and against
any liabilities, obligations, actions, suits, proceedings or claims, and all
costs and expenses (including without limitation, reasonable attorneys’ fees)
incurred in connection with the Substitute Lease based upon or arising out of
any act, occurrence, or omission occurring or alleged to have occurred from and
after the Effective Date. 5. As between Assignor and Assignee, this Assignment
shall be construed in accordance with the laws of the State of Arizona. 6. This
Assignment may be executed in one or more counterparts, each of which shall be
an original, and all of which together shall constitute a single instrument.
This Assignment shall be binding upon and inure to the benefit of the parties
hereto and their successors and assigns. 7. Assignor irrevocably appoints
Assignee, its successors and assigns, as the attorney and agent of Assignor, in
Assignor’s name and stead, to enforce the provisions of the Substitute Lease.
[Signatures begin on next page.] - 2 -

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IN WITNESS WHEREOF, this Assignment has been executed as of the date first above
written. ASSIGNOR: APEX Park at Pima, LLC, an Arizona limited liability company
By: Alter Park at Pima, L.L.C., a Delaware limited liability company By: 18-Chai
Corp., an Illinois corporation Its: Manager By: _________________________ Name:
___________________ Title: ___________________ Date: ___________________ State
of ) ) ss. County of ) SUBSCRIBED AND SWORN To before me this ____ day of
_____________, 2018 by ___________________________.
_________________________________ Notary Public ________________________________
My Commission Expires - 3 -

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ASSIGNEE: ___________________________________________ By:
_________________________ Name: ___________________ Title: ___________________
Date: ___________________ State of ) ) ss. County of ) SUBSCRIBED AND SWORN To
before me this ____ day of _____________, 2018 by ___________________________.
_________________________________ Notary Public ________________________________
My Commission Expires - 4 -

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COMMUNITY APPROVAL: The foregoing Assignment of Substitute Lease is hereby
approved. THE SALT RIVER PIMA MARICOPA INDIAN COMMUNITY By:
________________________________ Name: __________________________ Title:
__________________________ Date: __________________________ State of ) ) ss.
County of ) SUBSCRIBED AND SWORN To before me this ____ day of _____________,
2018 by ___________________________. _________________________________ Notary
Public ________________________________ My Commission Expires - 5 -

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CONSENTED TO BY MASTER LESSOR: Acting collectively through their Spokespersons,
who execute this Assignment on behalf of the Lessor pursuant to the authority
granted to them in the Substitute Lease, Master Lessor consents to the
Assignment. The undersigned Spokespersons hereby approve this Assignment.
________________________________________ [INSERT NAME OF SPOKESPERSON]
________________________________________ [INSERT NAME OF SPOKESPERSON]
________________________________________ [INSERT NAME OF SPOKESPERSON]
________________________________________ [INSERT NAME OF SPOKESPERSON]
________________________________________ [INSERT NAME OF SPOKESPERSON] STATE OF
ARIZONA ) ) ss County of MARICOPA ) The foregoing instrument was acknowledged
before me this _____ day of ________, 20___, by
______________________________________________________________________________
______________________________________________________________________________
_______________________, as Spokespersons acting on behalf of certain allotted
landowners of land within the Salt River Pima-Maricopa Indian Community,
pursuant to authority granted in the Master Lease.
_______________________________ Notary Public (Notary Seal) - 6 -

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SECRETARY’S APPROVAL UNITED STATES DEPARTMENT OF THE INTERIOR Bureau of Indian
Affairs Salt River Filing Office 10000 East McDowell Road Scottsdale, AZ 85256
The within ASSIGNMENT OF SUBSTITUTE LEASE is hereby approved pursuant to
authority delegated from the Secretary of the Interior to the Assistant
Secretary – Indian Affairs by 209 DM 8 230 DM 1, and to the Western Regional
Director by 3 IAM 4 (Release No. 99-03), and to the Superintendent/Field
Representative by 10 BIAM 11, as amended by Western Regional Release No. 97-1.
______________________________________ ____________________________
Superintendent Date Salt River Field Office Bureau of Indian Affairs Department
of the Interior State of ) ) ss. County of ) SUBSCRIBED AND SWORN To before me
this ____ day of _____________, 2018 by ___________________________.
_________________________________ Notary Public ________________________________
My Commission Expires - 7 -

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