FORTH HEREIN,
THE LAND IS BEING LEASED TO TENANT IN ITS "AS IS" CONDITION, WITH ALL FAULTS.
LANDLORD HEREBY DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES AS TO THE
CONDITION OF THE LAND.
WITHOUT LIMITING THE GENERALITY OF THE FOREGOING,
LANDLORD HEREBY DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE RELATIVE TO THE LAND OR
ANY PART THEREOF. TENANT ACKNOWLEDGES AND AGREES THAT, EXCEPT AS OTHERWISE
SPECIFICALLY SET FORTH HEREIN, NO REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE
BY LANDLORD, OR BY ANY PERSON, FIRM OR AGENT ACTING OR
5
PURPORTING TO ACT ON BEHALF OF LANDLORD, AS TO (I) THE PRESENCE OR ABSENCE ON OR
UNDER THE LAND OF ANY PARTICULAR MATERIALS OR SUBSTANCES (INCLUDING, WITHOUT
LIMITATION, ASBESTOS, HYDROCARBONS OR HAZARDOUS OR TOXIC SUBSTANCES), (II) THE
CONDITION OR REPAIR OF THE LAND OR ANY PORTION THEREOF, (III) THE VALUE, EXPENSE
OF OPERATION OR INCOME POTENTIAL OF THE LAND OR THE PREMISES, (IV) THE ACCURACY
OR COMPLETENESS OF ANY TITLE, SURVEY OR OTHER THIRD PARTY INFORMATION PROVIDED
BY LANDLORD TO TENANT RELATIVE TO THE LAND, THE PROJECT OR THE PREMISES, OR
(V) ANY OTHER FACT OR CONDITION WHICH HAS OR MIGHT AFFECT THE LAND, THE PROJECT
OR THE PREMISES. TENANT AGREES THAT TENANT WILL BE RELYING SOLELY ON TENANT'S
INSPECTIONS OF THE LAND IN ENTERING INTO THIS LEASE.
TENANT REPRESENTS AND
WARRANTS TO LANDLORD THAT TENANT HAS HAD FULL OPPORTUNITY TO CAREFULLY
(A) INSPECT, MEASURE AND TEST THE LAND, (B) TEST THE SUBSURFACE CONDITIONS AND
ENVIRONMENTAL CONDITIONS AT OR AFFECTING THE LAND, (C) EXAMINE THE PUBLIC
RECORDS RELATING TO THE LAND, AND (D) OTHERWISE PERFORM ALL DUE DILIGENCE WITH
RESPECT TO THE LAND AND THE PROJECT.
2.6
OBLIGATION TO CONSTRUCT THE PLANT.
LANDLORD
HAS REVIEWED AND APPROVED DETAILED PLANS AND SPECIFICATIONS FOR THE CONSTRUCTION
OF THE IMPROVEMENTS (THE "PLANS AND SPECIFICATIONS"). TENANT SHALL CAUSE
CONSTRUCTION OF THE IMPROVEMENTS TO BE DILIGENTLY PROSECUTED.
TENANT SHALL
CAUSE THE IMPROVEMENTS TO BE SUBSTANTIALLY COMPLETED AND FULLY PAID FOR ON OR
BEFORE THE REQUIRED COMPLETION DATE. FOR PURPOSES OF THE FOREGOING, CONSTRUCTION
OF THE IMPROVEMENTS SHALL BE DEEMED TO HAVE BEEN SUBSTANTIALLY COMPLETED WHEN
ANY AND ALL GOVERNMENTAL PERMITS, LICENSES, APPROVALS AND AUTHORIZATIONS
NECESSARY FOR THE OCCUPANCY AND OPERATION OF THE PLANT HAVE BEEN ISSUED AND THE
PLANT IS CAPABLE OF BEING FULLY OPERATIONAL.
IF TENANT FAILS TO CAUSE
CONSTRUCTION OF THE IMPROVEMENTS TO BE SUBSTANTIALLY COMPLETED BY THE REQUIRED
COMPLETION DATE, LANDLORD SHALL HAVE THE RIGHTS AND REMEDIES SET FORTH IN THIS
SECTION IN ADDITION TO ANY OTHER RIGHTS AND REMEDIES AVAILABLE UNDER THIS LEASE
OR APPLICABLE LAW:
2.6.1
LANDLORD SHALL HAVE THE RIGHT TO TERMINATE THIS
LEASE BY GIVING TENANT WRITTEN NOTICE THEREOF.
IF LANDLORD TERMINATES THIS
LEASE AS AFORESAID, THEN LANDLORD SHALL HAVE THE RIGHT TO PURSUE ALL AVAILABLE
RIGHTS AND REMEDIES UNDER APPLICABLE LAW AS A RESULT OF TENANT'S BREACH OF ITS
OBLIGATIONS UNDER THIS LEASE.
IN ADDITION TO, AND WITHOUT LIMITING THE
GENERALITY OF THE FOREGOING, TENANT SHALL BE DEEMED