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Exhibit 10.22    
    

LEASE  

 BY AND BETWEEN  

 WINDMILL DURANGO OFFICE, LLC  

 AS "LANDLORD"  

 and  

 ALLEGIANT AIR, LLC  

 AS "TENANT"  

 DATED AS OF MAY 1, 2007  

 LAS VEGAS, NEVADA  

 APN: 176-16-210-002  

Triple Net Lease (NNN)  

   OFFICE SPACE  

LEASE AGREEMENT  

        This Office Space Lease Agreement ("Lease") is made between the Landlord and Tenant hereinafter identified in
Sections 1.2 and 1.3 hereof, respectively, and constitutes a lease between the parties of the "Premises" as identified in Section 1.6
hereof on the terms and conditions and with and subject to the covenants and agreements of the parties hereinafter set forth by basic lease provisions. The Premises are located within the Building and
Project described in Section 1.5. Tenant shall have the non-exclusive right (unless otherwise provided herein) in common with Landlord, other tenants, subtenants and invitees, to
use of the Common Areas (as defined below). 

ARTICLE 1
  BASIC LEASE PROVISIONS  

        The following are certain Lease provisions, which are a part of, and, in certain instances, referred to, in subsequent provisions of this Lease: 

	SECTION 1.1

DATE OF LEASE:	 	May 1, 2007
	

SECTION 1.2

LANDLORD:	
 	

WINDMILL DURANGO OFFICE, LLC
	

SECTION 1.3

TENANT:	
 	

ALLEGIANT AIR, LLC
	

SECTION 1.4

TENANT'S TRADE NAME:	
 	

ALLEGIANT AIR
	

SECTION 1.5

PROJECT/BUILDING:	
 	

The building of which the Premises are a part (the "Building") and any other buildings or improvements on the real property (the "Property") located at
Durango & Windmill, Las Vegas, Nevada and further described at Exhibit "B" as "Two Story Office 1". The Project is known as Durango Commons. (See Section 2.1)
	

SECTION 1.6

PREMISES:	
 	

Suite/Space No. not yet named containing approximately 57,593 Rentable square feet of floor area. (See Exhibit A-1 and Section 2.2)
	

SECTION 1.7

TERM:	
 	

120 months from the Lease Commencement Date ("Expiration Date"). (See Section 3.1)
	

SECTION 1.8

COMMENCEMENT DATE:	
 	
Lease Commencement Date:    (subject to Section 4.1 below) is Approximately March 1, 2008, and the Expiration Date is Approximately February 28, 2018.
Lease Commencement Date shall occur when a Certificate of Occupancy (C. of O.) is issued for the Premises.
	

 	
 	

Tenant expressly agrees, and this Lease is made upon the express condition, that Landlord shall not be liable, responsible, or in any way accountable to Tenant, Tenant's agents, employees, servants, customers or invitees, or to any person whoever,
for any loss incurred by Tenant or its business due to any delays incurred in occupying the Premises. However, Landlord expressly agrees that Tenant will not be responsible for rent until the actual Lease Commencement Date.
	 	 	 

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SECTION 1.9

TENANT'S PRO RATA SHARE:	
 	

78%. Such share is a fraction, the numerator of which is the Rentable Area of the Premises, and the denominator of which is the Rentable Area of the Building. The total Rentable Area of the Building is 74,149 Rentable square feet.
	

SECTION 1.10

BASE RENT AND ESCLATIONS:	
 	

The initial Base Rent shall be $1.91 per Rentable sq. ft.), per month (NNN).
	

 	
 	

The Base Rent shall be increased as follows:

	
Lease Year
 
	
 	

Rental Rate

Per Square

Foot Per

Month (NNN)
	
 	

Monthly

Installments

of Base Rent

	1	 	$	1.91	 	$	110,002.63
	2	 	$	1.98	 	$	114,034.14
	3	 	$	2.13	 	$	122,673.09
	4	 	$	2.19	 	$	126,128.67
	5	 	$	2.26	 	$	130,160.18
	6	 	$	2.33	 	$	134,191.69
	

7	
 	
$	

2.40	
 	
$	

138,223.20
	8	 	$	2.47	 	$	142,254.71
	9	 	$	2.54	 	$	146,286.22
	10	 	$	2.62	 	$	150,893.66

	

SECTION 1.11

CAM/Operating Expenses	
 	

Triple Net (NNN) to Tenant
	

SECTION 1.12

SECURITY DEPOSIT:	
 	

$110,002.63 (See Sections 7., 7.2 and 7.3)

Which shall be deposited with Landlord upon receipt of building permit.
	

SECTION 1.13

PERMITTED USE:	
 	

General office use and all related uses thereto and for no other use or purpose. (See Section 12.1)
	

SECTION 1.14

GUARANTOR(S):	
 	

N/A. (See Section 18.3)
	

SECTION 1.15

TENANT'S IMPROVEMENT ALLOWANCE:	
 	

NONE. Premises shall be built as a "turn key" for Tenant as per Landlord's plans and as described generally in Exhibit "D."
	

SECTION 1.16

BROKER(S):	
 	
Landlords:
	

 	
 	

JEFF SUSA

3275 South Jones Blvd., #105

Las Vegas, NV 89146
	

 	
 	
Tenants:
	

 	
 	

None.
	

 	
 	
(See Section 31.5)
	 	 	 

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SECTION 1.17

ADDRESSES FOR NOTICES AND REPORTS:	
 	
Landlord:

WINDMILL DURANGO OFFICE, LLC

3275 South Jones Blvd., #105

Las Vegas, NV 89146
	

 	
 	
Tenant:

Allegiant Air, LLC

3301 N. Buffalo, Suite B-9

Las Vegas, Nevada 89129
	

 	
 	

with a copy to:
	

 	
 	

Robert B. Goldberg, Esq.

Ellis Funk, P.C.

3490 Piedmont Road, Suite 400

Atlanta, Georgia 30305
	

SECTION 1.18

LANDLORD'S ADDRESS FOR RENT PAYMENTS:	
 	

WINDMILL DURANGO OFFICE, LLC

3275 South Jones Blvd., #105

Las Vegas, NV 89146
	

SECTION 1.19

BUILDING HOURS:	
 	

Monday through Friday 7:00 a.m. to 6:00 p.m. and Saturday 7:00 a.m. to 1:00 p.m.
	

SECTION 1.20

PARKING:	
 	

Tenant shall be permitted to park cars (based upon a ratio of 5:1,000 per rentable square feet) on a non-exclusive basis in the area(s) designated by Landlord for parking. Tenant shall abide by any and all parking regulations and rules established
from time to time by Landlord or Landlord's parking operator. No charges may be imposed for guest parking during the initial or any renewal term of the Lease assuming such parking is non-exclusive and uncovered.
	

 	
 	

Covered parking will be made available at a cost of $40.00 or the prevailing market rate per space, per month. Location and exact number of spaces is to be determined.
 (See Section 8.4)
	

SECTION 1.21

RENTABLE AREA	
 	

As to both the Premises and the Project, the respective measurements shall be calculated according to the BOMA Method of measurement in effect at the time of execution of this Lease (subject to adjustment as described in Section 2.2
below).
	

SECTION 1.22

TENANT'S FIRST ADJUSTMENT DATE	
 	

Twelve (12) months from the Lease Commencement Date set forth in Section 1.8 above. (See Section 1.10)
	

SECTION 1.23

RENT ABATEMENT	
 	

NONE. Payment of Rent commences on the Lease Commencement Date.
	

SECTION 1.24

EXPENSE STOP

(if applicable):	
 	

N/A
	

SECTION 1.25

INDEX:

(if applicable):	
 	

N/A
	

SECTION 1.26

ADDENDUMS	
 	

Addendum(s) Numbered I: are attached hereto and incorporated herein.

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   ARTICLE 2
  GRANT  

        2.1    Project.    The Project consists of the real property and those
buildings and improvements shown on the site plan ("Site Plan") attached hereto as Exhibit "B" and constructed or to be constructed on the real
property. The Site Plan sets forth the general layout of the Project and the approximate location of the Building and the Premises within the Project, but is for informational purposes only and does
not constitute a warranty, representation, or agreement of any kind on the part of Landlord. Landlord reserves the right, for itself and for the underlying Lessor, if any, without incurring any
liability to Tenant and without altering in any way Tenant's obligations under this Lease, to (i) change the tenant mix of the Project without prior notice, (ii) increase, reduce, or
change the size, height, or layout of the Project or any part thereof, including without limitation the right not to construct any proposed improvements or portion of the Project which may or may not
be shown on the Site Plan and the right to change the parking plan, and/or parking ratios (provided however, the Tenant's parking ratio shall not be changed without the Tenant's prior written consent,
which shall not be unreasonably withheld) or to construct new buildings and structures in the Project and to remove and replace existing buildings, tenants and structures in the Project, and
(iii) make alterations to and build additional stories on the building in which the Premises are located, and to construct other buildings and improvements in the Project, including any
modifications of the Common Area (as hereafter defined). Tenant hereby consents to the exercise by Landlord of the rights set forth in this paragraph and agrees that the exercise of such rights by
Landlord or by the underlying lessor, if any, shall not diminish Tenant's obligations under this Lease. Notwithstanding the above to the contrary, no changes to the Project shall:
(a) materially affect the conduct of the Tenant's business therein; or, (b) impose any additional obligations on, or restrict the rights of, the Tenant. 

        2.2    Premises.    Landlord leases to Tenant and Tenant leases from
Landlord the Premises described in Section 1.6 for the Term (as defined in Article 3) and pursuant to all of the terms, covenants and conditions contained herein. The Premises are being
leased to Tenant subject to covenants, restrictions and easements of record. Landlord reserves the right to use the exterior walls, floor, and roof in, above and below the Premises, and retains the
right to install, maintain, use, repair, and replace structural elements and utility equipment, including, but not limited to, pipes, ducts, conduits, wires, and appurtenant fixtures in, under, over,
and through the Premises, in locations that will not materially interfere with Tenant's use of the Premises. Landlord and Tenant agree that the square footage of the Premises is subject to
verification by Landlord's architect or space planner. The square footage of the Premises shall be determined in accordance with the Standard Building Owners and Manager's Association
ANSI-Z65.1 (1996). If the amount of rentable square footage of the Premises shall differ from the approximate amount set forth in Section 1.6 of this Lease, then the Base Rent,
Security Deposit, Tenant's Prorata Share, and any other amounts and percentages appearing in this Lease, which are based upon the square footage of the Premises, shall be proportionately adjusted.
Upon determination of the square footage of the Premises, Landlord and Tenant shall confirm the same in a written amendment to this Lease. 

        2.3    Common Area.    The term "Common
Area" means without limitation parking areas (including parking decks), roadways, pedestrian sidewalks, truckways, loading docks for use by more than one tenant, delivery
areas, landscaped areas, roofs, elevators and escalators and stairs not contained in leased areas, service, fire and exit corridors, passageways, common restrooms and all of the areas or improvements
which may, at the commencement of the Term hereof and at any time during the Term, be provided upon the Project/Building, for the convenience and use of the tenants of the Project and their respective
subtenants, agents, employees, customers, invitees and any other licensees of Landlord. All Common Areas and facilities which Tenant may be permitted to use and occupy for Tenant's purposes, shall be
used and occupied under a revocable license for the term of this Lease. 

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ARTICLE 3
  TERM  

        3.1    Term.    The Term of the Lease
("Term") shall commence upon the Lease Commencement Date and shall expire, unless sooner terminated in accordance with this Lease, upon the Expiration
Date. Following the Lease Commencement Date, upon Landlord's request, Tenant shall promptly execute and deliver a "Memorandum of Lease Commencement" in
the form attached hereto as Exhibit "C", which shall specify the Lease Commencement Date and the Expiration Date. If Tenant fails to so execute or deliver a Memorandum of Rent Commencement,
such failure shall not affect Tenant's obligation to commence paying rent upon the occurrence of the Lease Commencement Date. If the Lease Commencement Date occurs on a day other than the first day of
a calendar month, the monthly installment of Base Rent for the first fractional month shall be equal to one-thirtieth (1/30) of the monthly installment of Base Rent for each
day from the Lease Commencement Date to the end of the partial month. 

        3.2    Holding Over.    This Lease shall terminate without further
notice upon the Expiration Date and any holding over by Tenant after the Expiration Date shall not constitute a renewal or extension of this Lease, or give Tenant any rights under this Lease, except
when signed in writing, by both parties. If Tenant holds over for any period after the Expiration Date (or earlier termination) of the term, Landlord may, at its option, treat Tenant as a tenant at
sufferance only, commencing on the first (1st) day following the termination of this Lease and subject to all of the terms of this Lease, except that the monthly Base Rent shall be one hundred
twenty-five percent (125%) of the last monthly rental installment. 

        If
Tenant fails to surrender the Premises upon the expiration of this Lease despite demand to do so by Landlord, Tenant shall indemnify and hold Landlord harmless from all loss or
liability, including, without limitation, any claims made by any succeeding tenant relating to such failure to surrender provided that Tenant has received sixty (60) days advance notice of any
succeeding tenant. Acceptance by Landlord of rent after the termination shall not constitute a consent to a holdover or result in a renewal of this Lease. The foregoing provisions of this Section are
in addition to, and do not affect, Landlord's right to re-entry or any other rights of Landlord under this Lease or at law. 

ARTICLE 4
  POSSESSION  

        4.1    Delivery of Possession.    If for any reason Landlord does not
deliver possession of the Premises to Tenant by the Lease Commencement Date as set forth in Section 1.8 above, Landlord and Tenant agree to execute a written addendum to this Lease within ten
(10) days of delivery of possession extending the Expiration Date for the length of the delay. Landlord shall not be subject to any liability for such failure to deliver possession and the
validity of this Lease shall not be impaired, but Base Rent shall be abated until delivery of possession; except that if Landlord's failure to so deliver possession on the Lease Commencement Date is
attributable to: (i) Tenant's delays in the reasonable approval or preparation of plans and specifications for improvements, (ii) unreasonable delays caused by the Tenant's contractors
or agents in performing services for which Tenant is responsible, or (iii) Tenant's negligence or willful misconduct ("Tenant Delays"), then Landlord shall be entitled to full performance by
Tenant (including the payment of all forms of rent) from the Lease Commencement Date. "Delivery of Possession" shall be deemed to occur on the date
Landlord substantially completes Landlord's Work as set forth in Exhibit "D" hereto. If Landlord permits Tenant to enter into possession of the Premises before the Lease Commencement Date, such
possession shall be subject to the provisions of this Lease. By entry hereunder, Tenant shall be deemed to have accepted the Premises (except for minor items of work and minor adjustments that can be
completed after occupancy of the Premises without causing undue interference with Tenant's reasonable use of the Premises [i.e., so called
"punchlist" items]) as being in good and sanitary order, condition and repair, subject to all applicable zoning, municipal, 

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county
and state laws, ordinances and regulations governing and regulating the use of the Premises and any covenants or restrictions of record, and accepts this Lease subject thereto as to all matters
disclosed thereby and by any exhibits attached hereto. Landlord shall use its reasonable efforts to complete the punchlist items as quickly as reasonably possible. Tenant acknowledges that neither
Landlord nor Landlord's agent has made any representation or warranty as to the present or future suitability of the Premises for the conduct of Tenant's business. Tenant shall have access to the
Building through all public entrances during the Building Hours. After Building Hours Tenant shall be allowed access through those entrances designated by the Landlord as after-hour
entrances by means of cards or keys provided by Landlord for such purpose. 

ARTICLE 5
  CONSTRUCTION  

        5.1    Tenant's Construction.    Tenant shall commence the
installation of fixtures, equipment and any other Tenant's Work as set forth in Exhibits "D," if any, promptly upon substantial completion of Landlord's
Work and Tenant shall diligently pursue such installation and work to completion. All of Tenant's Work shall be at Tenant's sole cost and expense pursuant to plans and specifications which meet
Landlord's reasonable approval. Tenant shall provide its own trash container(s) as needed for containment and removal of construction debris from Tenant's Work and Tenant shall remove said trash
containers prior to opening for business. The location of the trash containers shall be reasonably designated by Landlord. During the Tenant improvement period, Tenant and its contractor, if any,
shall keep the Project free of all construction and related debris. Prior to opening for business, Tenant shall remove all construction and related debris from the Premises and the Project, and all
such areas shall be left in a broom clean condition. Tenant's contractor shall name Landlord as an additional insured on contractor's insurance policies. All Tenant's Work shall be undertaken and
completed in a good, workmanlike manner, and Tenant shall obtain all necessary governmental permits, licenses and approvals with respect thereto and shall fully comply with all covenants, conditions
and restrictions of record, governmental statutes, ordinances, rules and regulations pertaining thereto. Tenant covenants that no work by Tenant's employees, agents or contractors, shall disrupt or
cause a slowdown or stoppage of any work conducted by Landlord on the Premises or Project. 

        5.2    Landlord's Construction.    Landlord shall deliver to Tenant,
and, except as specifically provided herein, Tenant agrees to accept from Landlord, possession of the Premises upon substantial completion of Landlord's Work as described in Exhibit "D." In
addition to (and not in lieu of) Landlord's obligations under this Lease, Landlord hereby represents and warrants ("Landlord's Warranty") that the Tenant Improvements shall be free from defects in
workmanship and materials for a period of twelve (12) months after the date that such Tenant Improvements are Substantially Complete. If Tenant notifies Landlord of any such defects within such
twelve (12) month period, then Landlord, at its expense, will repair or cause to be repaired (unless caused or changed in condition by Tenant prior thereto), the defects as soon as practicable
and shall use reasonable efforts to repair the defects with minimal disruption and interference to Tenant's use of the Premises. At any time after the expiration such twelve (12) month period,
Landlord will promptly, upon written request of Tenant, assign to Tenant (to the extent assignable and without warranty or representation by Landlord) all rights which Landlord may have under the
contract for the construction of the Tenant Improvements against the contractor respecting defects in workmanship and materials. 

ARTICLE 6
  RENT  

        6.1    General Provisions.    As used herein,
"rent" or "Rent" shall mean Base Rent and Additional Rent, all as hereinafter defined. Unless provided
herein to the contrary, Tenant shall pay all rent to Landlord in advance on or before the first day of each month of the Term at the address provided in 

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Section 1.18
hereof, commencing on the Lease Commencement Date (payment of the 1st month's rent), and continuing until the Expiration Date. All rent shall be paid, to Landlord, in
lawful money of the United States of America without demand therefor, and without deduction, offset or abatement (subject to Section 1.23) of any kind. Rent for any partial month, including any
month adjusted pursuant to Section 3.1 hereof, shall be prorated on the basis of a thirty (30) day month. Upon the execution of this Lease, Tenant shall pay to Landlord the sum equal to
the first full monthly installment of Base Rent. No payment by Tenant or receipt by Landlord of lesser amounts of rent than those herein stipulated shall be deemed to be other than on account of the
earliest unpaid stipulated rent. No endorsement or statement on any check or any letter accompanying any check or payment as rent shall be deemed an accord and satisfaction, and Landlord may accept
such check or payment without prejudice to Landlord's right to recover the balance of such rent or pursue any other remedy provided in this Lease. Any credit due to Tenant hereunder by reason of
overpayment of additional rent shall first be applied to any damages or rent owed to Landlord by Tenant if Tenant shall be in default when said credit shall be owed. 

        6.2    Base Rent.    Subject to Section 6.3, Tenant shall pay
Landlord as fixed rent ("Base Rent") during the Term of this Lease, the sum set forth in Section 1.10 hereof, which sum shall be payable by
Tenant, monthly, on or before the first day of each month, in advance. 

        6.3    Additional Rent.    All other charges or payments of whatever
nature required to be paid by Tenant to Landlord under this Lease, except Base Rent, including without limitation Operating Expenses/CAM charged and the Exhibits attached hereto, shall be referred to
as "Additional Rent". Base Rent and monthly Operating Expenses/CAM fees shall be paid in the manner specified in Section 6.2; all other charges
or whatever kind required to be paid by Tenant under this Lease, including the Exhibits attached hereto, shall, unless otherwise specified, be due and payable ten (10) days after demand,
without any deductions or set-off whatsoever, except as expressly provided in this Lease, in the manner and at the place where Base Rent is payable. 

        6.4    Rent Control.    If the amount of Rent or any other payment due
under this Lease violates the terms of any governmental restrictions on such Rent or payment, then the Rent or payment due during the period of such restrictions shall be the maximum amount allowable
under those restrictions. Upon termination of the restrictions, Landlord shall, to the extent it is legally permitted, recover from Tenant the difference between the amounts received during the period
of the restrictions and the amounts Landlord would have received had there been no restrictions. 

        6.5    Increases to Base Rent.    See Section 1.10 

ARTICLE 7
  SECURITY DEPOSIT  

        7.1    Security Deposit.    Concurrently with Landlord obtaining a
building permit, Tenant shall deposit with Landlord the Security Deposit ("Security Deposit") specified in Section 1.12. Landlord shall hold the
Security Deposit as security for Tenant's faithful performance of all the terms, covenants, and conditions of this Lease. Landlord shall not be required to keep the Security Deposit separate from
Landlord's general funds. Subject to Landlord's right hereunder to apply the Security Deposit in accordance with this Article, the parties acknowledge that the Security Deposit does not cover any rent
or Operating Expenses hereunder. The retention or application of such Security Deposit by Landlord pursuant to this Section does not constitute a limitation on or waiver of Landlord's right to seek
further remedy under law or equity. 

        7.2    Use of Security Deposit.    If Tenant breaches or fails to
perform any of Tenant's obligations under this Lease, Landlord shall have the right, but not the obligation, to use or retain all or any part of the Security Deposit to cure the breach or failure of
performance, and to compensate Landlord for any damages sustained by Landlord, including but not limited to payment of: (i) delinquent rent; 

7

 

(ii) interest
on delinquent rent; (iii) late charges on delinquent rent; (iv) the cost of performing any of Tenant's obligations under this Lease; (v) the cost of repairing
damages to the Premises or Project; (vi) the cost of cleaning, maintaining, repairing, restoring or reletting the Premises; (vii) attorneys' and accountants' fees and disbursements and
court costs; (viii) brokerage commissions and finders' fees; and, (ix) interest on any and all of the above at the lower of (x) the so-called "Prime Rate" published in  The Wall Street Journal, as the same may change from time to time, plus two percent (2%), or (y) sixteen percent (16%) per annum, but in no event
at a rate higher than that permitted by applicable law ("Remedy Rate") from the date due until paid; provided, however, that retention of all or any
part of the Security Deposit shall not affect Tenant's obligations under this Lease or Landlord's other rights and remedies provided at law, in equity, or under this Lease. If any portion of the
Security Deposit is used as provided for in this Section, then within five (5) days after written demand by Landlord, Tenant shall deposit with Landlord sufficient cash to restore the Security
Deposit to its original amount. Tenant's failure to make this deposit shall be a default under this Lease. 

        7.3    Refund and Transfer.    If Tenant shall have fully and
faithfully performed all of Tenant's obligations under this Lease (or upon the earlier termination without Tenant's fault) and after Landlord has inspected the Premises, has cleaned and repaired any
damage, and has received invoices for such repair or cleaning costs, if any, then Landlord shall return the Security Deposit or any balance thereof to Tenant. Landlord may transfer the Security
Deposit, or that portion remaining after any deduction, to Landlord's successor-in-interest and shall upon such transfer be discharged from any further liability with respect
to such Security Deposit. 

ARTICLE 8
  USE AND MAINTENANCE OF THE COMMON AREAS  

        Landlord hereby grants to Tenant, the nonexclusive use of the Common Area in common with Landlord and with all others for whose convenience and use of the Common
Area has been or may hereafter be provided by Landlord or by the owners of common areas not within the Project; subject, however, to rules and regulations for the use thereof as prescribed from time
to time by Landlord or the owner of such other common areas. In no event, however, shall Tenant, its agents or employees, use the Common Area for the display, promotion or sale of merchandise. The
Common Area shall be used and maintained pursuant to the following terms: 

        8.1    Maintenance of Common Area.    Except for certain items to be
maintained by Tenant as stated herein, Landlord, during the Term, will maintain the Common Area in good condition and repair. 

        8.2    Landlord's Control Over Common Area.    Landlord shall at all
times have the exclusive control and management of the Common Areas of the Building or Project. Landlord shall have the right from time to time to employ personnel; establish, modify and enforce
reasonable rules and regulations; construct, maintain and operate lighting facilities; police the Common Areas and facilities; from time to time to change the area, level, location and arrangement of
parking areas and other facilities hereinabove referred to; to restrict parking by Tenant, its officers, agents and employees to employee parking areas within the Project; to temporarily close all or
any portion of the Common Areas to such extent as may, in the opinion of Landlord's counsel, be legally sufficient to prevent a dedication thereof or the accrual of any interest therein by any person
or the public; temporarily close all or any portion of the parking areas or facilities to discourage non-customer parking; and to do and perform such other acts in and to the Common Areas
as, in the use of good business judgment, Landlord shall determine to be advisable with a view to the improvement of the convenience and use thereof by tenants of the Building or Project, their
employees, invitees and customers. 

        8.3    Compliance with Landlord's Rules and Regulations.    Tenant
agrees to comply with (and cause its agents, contractors, employees and invitees to comply with) the rules and regulations attached hereto as Exhibit "F" ("Rules and
Regulations") and with such reasonable modifications thereof and 

8

 

additions
thereto as Landlord may from time to time make provided said additions/modifications are reasonable and are uniformly applied to all tenants. Landlord shall not be responsible for any
violation of said rules and regulations by other tenants or occupants of the Building or Project, but shall nevertheless apply and enforce said Rules and Regulations equitably to all tenants. 

        8.4    Parking.    Landlord shall cause to be maintained, automobile
parking areas within the Project for the benefit and use of the visitors and patrons and employees of Tenant, and other tenants and occupants
of the Project, subject to any and all conditions as set forth in this Lease. The parking areas shall include the automobile parking stalls, driveways, entrances, exits, sidewalks and attendant
pedestrian passageways and other areas designated for parking. Landlord shall determine the nature and extent of the parking areas and make such changes which, in its opinion, are in the best
interests of all persons using the parking area. Nothing contained in this Lease shall be deemed to create liability upon Landlord for any damage to motor vehicles of visitors or employees, unless
ultimately determined to be caused by the negligence or willful misconduct of Landlord. Landlord shall also have the right to establish, amend, and enforce against all users of the parking areas
reasonable rules and regulations as Landlord may deem necessary and advisable for the proper and efficient operation and maintenance of the parking area. Tenant shall hold harmless Landlord and defend
Landlord, its agents and employees against any and all claims of the employee and/or owner of the vehicle towed hereof respectively. 

        8.5    No Obstruction.    Tenant shall not obstruct any portion of the
Common Area without the prior written consent of Landlord, which shall not be unreasonably withheld, or delayed, by placing or allowing any item on it, including without limitation, signs, banners,
displays, merchandise or other materials, except as expressly permitted by this Lease, the Rules and Regulations or Landlord in writing. 

        8.6    Operating Expenses.    "Operating
Expenses" (sometimes referred to as "CAM") shall mean all costs and expenses of every kind and nature, including a 3% Management Fee incurred or paid by Landlord (calculated as
3% of all Rent), and including but not limited to the following: 

          (i)  In
operating, equipping, policing and protecting, lighting, heating, air conditioning, providing sanitation and other services, insuring (including self insurance and
the payment of deductible amounts under insurance policies), repairing, replacing and maintaining the (a) Common Area, including any parking decks and connectors, (b) all buildings and
roofs within the Project, and (c) all other areas, facilities and buildings and vertical transportation facilities. 

         (ii)  For
all taxes, assessments, water and sewer charges and other similar governmental charges levied on or attributable to the Building or Project or their operation,
including without limitation, (a) real property taxes or assessments levied or assessed against the Building or Project, (b) assessments or charges levied or assessed against the
Building or Project by any redevelopment agency, (c) any tax measured by gross rentals received from the leasing of the Premises, Building or Project, excluding any net income, franchise,
capital stock, estate or inheritance taxes imposed by the state or federal government or their agencies, branches or departments; provided that if at any time during the Term any governmental entity
levies, assesses or imposes on Landlord any (1) general or special, ad valorem or specific, excise, capital levy or other tax, assessment, levy or charge directly on the rent received under
this Lease or on the rent received under any other leases of space in the Building or Project, or (2) any license fee, excise or franchise tax, assessment, levy or charge measured by or based,
in whole or in part, upon such rent, or (3) any transfer, transaction, or similar tax, assessment, levy or charge based directly or indirectly upon the transaction represented by this Lease or
such other leases, or (4) any occupancy, use, per capita or other tax, assessment, levy or charge based directly or indirectly upon the use or occupancy of the Premises or other premises within
the Building or Project, then any such taxes, assessments, levies and charges shall be deemed to be included in the term Operating Expenses. 

9

 

        (iii)  For
all sums expended in connection with the Building and Project for all general maintenance and repairs; "S.I.D." fees; relocation of facilities; resurfacing;
painting; striping; re-striping; cleaning; sweeping and janitorial services; maintenance and repair of sidewalks, curbs, Building and Project signs, landscaping, irrigation or sprinkling
systems; planting and landscaping; lighting and other utilities; directional signs and other markers and bumpers; all roof repairs and maintenance including but not limited to patching, resurfacing
and preventative maintenance and painting or renovation of the exterior portion of all or any part of the improvements constructed on the Building and Project; maintenance and repair of any fire
protection systems, lighting systems, storm drainage systems and any other utility systems; all cost or expense incurred by reason of any repairs or modifications to the Building and Project and/or
its improvements and/or for repair or installation of equipment for energy or safety purposes; personnel to implement such services including, if Landlord deems necessary, the cost of a maintenance
supervisor and/or the cost of security guards; all costs and expenses pertaining to a security alarm system for the tenants and/or Building and Project; all costs, expenses, taxes and/or surcharges
levied or imposed upon or against the Building and Project, parking spaces or areas, the Building and Project and/or Landlord and all payments to or for public transit or car-pooling
facilities or as otherwise required by any governmental agency having jurisdiction over the Building and Project; all costs incurred by Landlord in connection with complying with applicable federal,
state, county, borough or municipal laws, ordinances, rules, regulations, directives, orders and/or requirements now or hereafter in force with respect to the Building and Project and/or its Building
and Project. 

        (iv)  For
reserves for future maintenance and repair work and reserves for replacement of existing capital improvements in the Building and Project which Tenant hereby
authorizes Landlord to use as Landlord deems necessary; personal property taxes on the improvements located on the Building and Project; fees and costs incurred in managing the Building and Project
and in the performance, management and supervision of the Common Area maintenance services and obligations and/or administering the accounting, bookkeeping and collection of the expenses in connection
with the Building and Project, said fees and costs incurred in the previous sentence shall be included in, and are not in addition to,
the 3% management fee set fort in the first paragraph of Section 8.6; and public liability and property damage insurance covering the Building and Project in amounts as required by Landlord.
Landlord may cause any or all of said services to be provided by an independent contractor or contractors. 

        The
following items shall not be included in Operating Expenses: (i) any expenses which under generally accepted accounting industry standards would not be considered a
maintenance, repair and/or operating expense for a commercial office facility, (ii) costs associated with the operation of the business of the entity which constitutes the "Landlord",
including, but not limited to, the legal and accounting costs associated with the leasing, selling, syndicating, financing, mortgaging, or hypothecating of any of Landlord's interest in the Building
or Project, the costs of disputes between Landlord and its employees, tenants or contractors, (iii) deleted, (iv) expenses in connection with services (other than utilities commonly used
by all tenants at the Project) provided solely to the premises of other tenants which are of no benefit to Tenant, (v) depreciation and/or amortization of the Building, (vi) the cost of
repairs or other work incurred by reason of fire, windstorm or other casualty, except for deductibles paid under insurance contracts, (vii) Landlord's gross receipts taxes, personal and
corporate taxes, inheritance and estate taxes, franchise, gift or transfer taxes, (viii) the cost of preparing any space for any tenant or prospective tenant of the Project or costs associated
with any space presently deemed to be rentable space; (ix) costs incurred in leasing or obtaining new tenants or retaining existing tenants, including leasing commissions, attorneys' fees, or
the cost of advertising and promotion; (x) attorneys' fees incurred in enforcing the terms of any lease; (xi) the cost of any item or service that Landlord provides selectively to one or
more tenants of the Project, whether or not Landlord is reimbursed by such other tenants; and (xii) any amount paid to an entity or individual affiliated with or otherwise 

10

 

related
to Landlord which exceeds the amount which would be paid for similar goods or services on an arms-length basis between unrelated parties. 

        The
inclusion of the improvements, facilities and services set forth in this Lease, shall not be deemed to impose an obligation upon Landlord to either have said improvements or
facilities or to provide those services unless; (i) the Project already has the same, or (ii) Landlord already provides the services, or (iii) Landlord has agreed elsewhere in
this Lease to provide the same or some of them. The Landlord may contract for Security Personnel to monitor the Common Areas of the Project. The extent and scope of the use of Security Personnel to
monitor the Common Area, including the Parking Area, shall be under Landlord's sole control. The use of Security Personnel to monitor the Common Facilities shall be for the protection of the capital
improvements of the Project and shall not create nor impose upon Landlord or its agents an obligation or duty to protect or defend the property or personal well being of Tenant, its employees, guests
or agents. 

        8.7    Payment of Operating Expenses.    Tenant shall pay to Landlord
its Prorata Share of all costs and expenses of every kind and nature (collectively, "Operating Expenses") paid or incurred by Landlord in connection with the maintenance, repair, replacement,
operation, protection, lighting and policing of the Common Area and the Project in the manner set forth in Section 6.2 as Additional Rent. Tenant's obligations set forth in this
Section 8.7 form a material part of the consideration for this Lease, and Tenant hereby waives all rights to make repairs at the expense of Landlord as provided by any Laws now or hereafter in
effect. It is understood that the foregoing charges shall be paid in estimated
amounts determined periodically by Landlord. Landlord shall have the right at any time and from time to time to adjust the estimated amount based on actual amounts incurred and on projected costs for
future periods. When the actual amounts of such charges have been determined, and if Tenant shall have paid an amount less than it is required to pay, Tenant shall pay the balance due within thirty
(30) days after receipt of said statement, and if Tenant shall have paid an amount greater than it is required to pay, the additional amount shall be credited to Tenant's next such payments.
The obligations of Tenant and Landlord to make payments required under this Section 8.7 shall survive the Expiration Date. In no event shall Tenant be relieved of its obligation to pay Tenant's
Prorata Share of Operating Expenses if Landlord fails to send or is late in sending Landlord's Operating Statement or Estimated Operating Expense notice to Tenant. 

        Tenant
or its agents shall have the right, not more frequently than once per calendar year, after notice to Landlord and at reasonable times, to inspect and photocopy Landlord's
Operating Expense records at Landlord's office. Should Tenant dispute any Operating Expenses, Tenant shall be entitled, but not later than one year following the operating year in question, to retain
an independent certified public accountant or other competent real estate professional applying generally accepted accounting industry standards, who is not contracted or compensated on a contingency
fee basis, to audit Landlord's Operating Expense records for the calendar year in question. Should the audit determine that Tenant was over-charged, then, within thirty (30) days of
Landlord's inspection of the audit, Landlord shall credit Tenant the amount of such over-charge toward the payments of Base Rent and Additional Rent next coming due under the Lease. Should
the audit determine that Tenant has been under-charged; Tenant shall reimburse Landlord for such amount as Additional Rent next coming due under the Lease. Tenant agrees to pay the cost of the audit,
unless the audit determines that Landlord's calculation of Operating Expenses was in error by more than three percent (3%), in which case Landlord shall pay for the audit. The obligations of Tenant
and Landlord to make payments required under this Section 8.7 shall survive the Expiration Date. 

ARTICLE 9
  TAXES  

        9.1    Personal Property Taxes.    Prior to delinquency, Tenant shall
pay all taxes levied or assessed upon Tenant's equipment, furniture, fixtures and other personal property located in or about the 

11

 

Premises.
If the assessed value of Landlord's property is increased by the inclusion therein of the value placed upon Tenant's equipment, furniture, fixtures or other personal property, Tenant shall
pay Landlord, upon written demand, the taxes so levied against Landlord, or the proportion thereof resulting from said increase in assessment. 

ARTICLE 10
  UTILITIES AND SERVICES  

        10.1    General.    Landlord shall not be responsible for, or in
default hereunder or be liable for any damages (including any consequential damages) directly or indirectly resulting from, nor shall the Rent be abated by reason of (i) the installation, use
or interruption of use of any equipment in connection with the foregoing services, (ii) failure caused by accident or any condition or event beyond the reasonable control of Landlord, or by the
making of necessary repairs or improvements to the Premises, Building or Project, or (iii) the limitation, curtailment or rationing of, or restrictions on, use of water, electricity, gas or any
other form of energy serving the Premises, Building or Project. Landlord shall not be liable under any circumstances for a loss of or injury to property or business, however occurring, through or in
connection with or incidental to any such services. Notwithstanding the preceding or anything in this Lease to the contrary, if water, electricity, gas or any other form of energy serving the Premises
is interrupted due to the gross negligence of Landlord, its agents, employees, or contractors (or such contractors' subcontractors) for a period in excess of two (2) continuous business days,
then Rent due under this lease shall be abated thereafter during the period of time Tenant is without such utility, until restoration of such services. 

        10.2    Landlord's Obligations.    

        During
the periods from 7:00 a.m. to 6:00 p.m., Monday through Friday and Saturday 7:00 a.m. to 1:00 p.m., except New Year's Day, President's Day, Memorial
Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Day and such other nationally recognized holidays, and subject to reasonable rules and regulations from time to time established by
Landlord (for purposes of this Section 10, such hours and days of operation are herein called "Normal Working Hours"). In addition, the Building
shall be accessible to Tenant's employees to work in the Premises outside Normal Working Hours for dispatch and customer care matters in the normal course of Tenant's business. Notwithstanding,
Landlord shall furnish the following services and utilities to the Premises during the term of this Lease at levels and in types customary for first-class, office buildings in the Las Vegas, Nevada
office market and as more particularly provided below, the cost of which shall be included in Operating Expenses except as specifically provided otherwise herein: 

        (a)    HVAC.    Landlord shall furnish heating, ventilation and air conditioning
("HVAC") in amounts required for the use and occupancy of the Premises for normal office purposes. Tenant shall not, without Landlord's prior written
consent, which shall not be unreasonably withheld or delayed, use heat-generating machines or other than normal fractional horsepower office machines or other machinery or equipment which
may affect the temperature otherwise maintained in any portion of the Premises by the HVAC system, and if such temperature is affected as a result of: (i) any lights, machines or equipment
(including, without limitation, computers, photocopiers and electronic data processing machines) used by Tenant in the Premises in excess of normal office use; (ii) the occupancy of the
Premises by more than one person per two hundred (200) square feet of Rentable Area therein; or (iii) an electrical load in excess of five (5) watts (connected load) per square
foot of Usable Area of the Premises, Landlord shall have the right to install any machinery or equipment which Landlord
reasonably deems necessary to restore temperature balance, including, without limitation, modifications to the standard air conditioning equipment, and the cost thereof including the cost of
installation and any additional cost of operation and maintenance incurred thereby, shall be paid by Tenant to Landlord as Additional Rent. As it pertains to any special equipment of Tenant only,
Landlord makes no representation with respect to the adequacy or fitness of the HVAC equipment in the Building to maintain satisfactory temperatures, and Landlord shall have no liability for loss or
damage in connection therewith. 

12

  

        (b)    Electricity.    Landlord shall furnish to the Premises an average of five (5) watts of electric current
(connected load) per square foot of Usable Area for wall outlet power and lighting and electric current. Without the prior written consent of Landlord, which Landlord may refuse in its sole
discretion, Tenant shall not connect any apparatus, device, machinery, appliances or equipment, except through existing electrical outlets in the Premises. Tenant agrees to pay directly and in
addition to Operating Expense payments for the cost of electrical current (at rates no higher than that charged by the public utility providing similar service) used by Tenant, which exceeds the
amount of such current typically used by similar size tenants in similar class buildings and that the allocation of electricity costs to all tenants in the Project through Operating Expenses is,
therefore, materially distorted or unfair, then Tenant shall pay Landlord the actual cost of the installation of such sub-meter and shall pay directly (instead of as part of Operating
Expenses) for the actual cost of such excess electric current usage plus any additional expense incurred in keeping account of the electric current so consumed. Landlord shall have the right to
install such sub-meter at any time and from time to time during the Term or any renewal thereof. 

        (c)    Elevators.    Landlord shall furnish passenger elevator services to the Premises at all times and shall
identify a service provider for emergency calls from the elevator at all times. 

        (d)    Water.    Landlord shall make available water for lavatory and drinking purposes to be drawn from the public
lavatory in the core of the floor on which the Premises are located and to any plumbing fixtures installed within Tenant's Premises as Landlord's Work. Tenant shall not make any use of the Premises,
which would increase the amount of water typically furnished for office use, nor connect any appliance directly to the water pipes, unless specifically approved by Landlord in writing. 

        (e)    Janitorial.    Tenant shall provide janitorial service five (5) nights per week generally consistent
with that furnished in other office buildings in Las Vegas and window washing as determined by Landlord but no less than once per quarter. Tenant shall also be required to provide janitorial services
for the interior Common Areas of the Building that is part of its leased area, including without limitation, hallways, storage areas, stairwells, loading docks, delivery areas, escalators and
elevators, service, fire and exit corridors, passageways, common restrooms, and all of the areas or improvements which may, at the commencement of the Term hereof and at any time during the Term, be
provided upon the Project/Building, for the convenience and use of the Tenant and its subtenants, agents, employees, customers, invitees and any other licensees of Landlord. 

        10.3    Tenant's Obligations.    

        In
addition to the forgoing, Tenant shall be solely responsible for, and promptly pay when due, all charges for gas, water, sewer, telephone, electricity, and all other utilities used by
Tenant or consumed at the Premises during the Term. If Tenant refuses or neglects to pay any such utility charges, Landlord may, at Landlord's option, pay such charges, and Tenant shall, upon demand,
pay to Landlord the amount paid by Landlord in connection therewith as Additional Rent. In the event that any utility usage of Tenant is not separately metered or billed, Tenant agrees to pay to
Landlord its equitable share of the charges for each utility as reasonably determined by Landlord as part of Tenant's Prorata Share of Operating Expenses. 

        All
times during the Lease Term, Landlord shall have the right to select the utility company or companies that shall provide services to the Premises and, subject to all applicable Laws,
Landlord shall have the right at any time and from time to time during the Lease Term to either (a) contract for services from service provider(s) other than the provider with which Landlord
has a contract as of the date of this Lease (the "Current Provider"), or (b) continue to contract for services from the Current Provider. Tenant shall at all times cooperate with Landlord and
any service provider with which Landlord has contracted and, as reasonably necessary, shall allow Landlord or such service provider 

13

 

reasonable
access to any pipes, electric lines, feeders, risers, wiring and any other machinery within the Premises. 

ARTICLE 11
  INSURANCE  

        11.1    General.    Tenant shall, at its expense, maintain in effect
from and after the date of delivery of possession of the Premises to Tenant and continuously thereafter until the Expiration Date, the policies of insurance required under this Article. All policies
that Tenant is required to obtain under this Article shall be issued by responsible insurance companies authorized to do business in Nevada with a general policyholder's rating of not less than "A"
and a financing rating of not less than Class "X", as rated by the most current available "Bests" Insurance Reports and shall be in a form (without any additions or deletions unless approved in
writing by Landlord) and underwritten by companies reasonably acceptable to Landlord. On or before the Lease Commencement Date, Tenant shall furnish Landlord with evidence acceptable to Landlord that
(i) the policies (or a binder thereof) required pursuant to this Article are in effect and (ii) Landlord shall be notified by the carrier in writing thirty (30) days prior to
cancellation, material change, or non-renewal of such insurance. The policies that Tenant is required to obtain pursuant to this Article shall name Landlord and, upon Landlord's request,
Landlord's mortgagee, if any, as additional insureds on such equivalent form as may be approved by Landlord and shall be primary policies, and shall not be contributing with and shall be in excess of
coverage which Landlord may have and shall be unaffected by any insurance or self-insurance Landlord may have regardless of whether any other insurance policy names Landlord as an insured
or whether such insurance stands primary or secondary. If Tenant carries any of the insurance required hereunder in the form of a blanket policy, any certificate required
hereunder shall make specific reference to the Premises, provided, however, the blanket policy carried with respect to the insurance required by Tenant hereunder shall contain a "per location"
endorsement assuring that any aggregate limit under such blanket policy shall apply separately to the Premises and that the insurer thereunder shall provide written notice to Landlord if the available
portion of such aggregate is reduced to less than the minimum amounts required under this Article by either payment of claims or the establishment of reserves for claims, (whereupon Tenant shall be
obligated to take immediate steps to increase the amount of its insurance coverage in order to satisfy the minimum requirements set forth in Section 11.2). The policy evidencing insurance
required to be carried by Tenant pursuant to this Article shall provide coverage on an occurrence basis. The limits of the insurance coverage required by Landlord or the unavailability of certain
types of coverage shall not limit or release Tenant from any of its obligations under this Lease and the existence of such insurance in no way changes Tenant's obligations to Landlord. 

        11.2    Tenant's Insurance.    

         A.    Tenant, at its sole cost and expense, during the entire Term hereof, shall, commencing with the date upon
which possession
of the Premises shall be made available to Tenant, procure, pay for and keep in full force and effect: (i) a commercial general liability insurance policy (ISO form or equivalent), including
insurance against assumed or contractual liability under this Lease with respect to the Premises and the operations of Tenant and any subtenants of Tenant in, on or about the Premises in which the
limits with respect to personal liability and property damage shall not be less than Three Million Dollars ($3,000,000) per occurrence on a location basis; (ii) all risk property insurance
including theft and, if applicable, boiler and machinery coverage, written at replacement cost value in an adequate amount to avoid coinsurance and a full replacement cost endorsement insuring the
Tenant's trade fixtures, equipment, merchandise and furnishings and any other items of personal property of Tenant and including the property of Tenant's customers located on or in the Premises;
(iii) workers' compensation coverage as required by law; (iv) with respect to alterations, additions or improvements and the like required or permitted to be made by 

14

 

Tenant
hereunder, contingent liability and builder's risk insurance, in amounts reasonably satisfactory to Landlord; and (v) such other insurance as from time to time may be required by city,
county, state or Federal laws, codes, regulations or authorities. The deductibles or self-insurance portion under any such insurance policies to be carried by Tenant shall not exceed Fifty
Thousand Dollars ($50,000) or such higher commercially reasonable amount consistent with Tenant's financial condition. Tenant agrees that if Tenant does not take out and maintain such insurance,
Landlord may (but shall not be required to) procure said insurance on Tenant's behalf and charge the Tenant the premiums, payable upon demand as Additional Rent. 

         B.    Tenant shall not use, or allow the Premises to be used for any purpose which may be prohibited by the
form of fire
insurance policy required to be carried under this Lease. Tenant shall pay any increase in premiums for casualty and fire (including all risk coverage) insurance that may be charged during the Term of
this Lease on the amount of such insurance which may be carried by Landlord on the
Premises, the Building or the Project resulting from Tenant's occupancy whether or not Landlord has consented thereto. In such event, Tenant shall also pay any additional premium on the insurance
policy that Landlord may carry for its protection against rent loss through fire or casualty. In determining whether increased premiums are the result of Tenant's use of the Premises, a schedule,
issued by the organization setting the insurance rate on the Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make up the
casualty and fire insurance rate on the Premises. Landlord shall deliver invoices for such additional premiums to Tenant at such times as Landlord may elect, and Tenant shall immediately reimburse
Landlord therefore. 

        11.3    Landlord's Insurance.    During the Term, Landlord shall
procure and maintain at its expense (but with the expense to be included in Operating Expenses) through the term of this Lease a policy or policies of special form/all risk (including rent loss
coverage) real and personal property insurance covering the Building (including the leasehold improvements in the Premises, but excluding Tenant's personal property and equipment), in an amount equal
to the full insurable replacement cost thereof as such may increase from time to time (but such insurance may provide for a commercially reasonable deductible not to exceed $150,000), and in an amount
sufficient to comply with any co-insurance requirements in such policy, and a policy of workers' compensation insurance, if any, as required by applicable law. In addition, Landlord shall
procure and maintain at its expense (but with the expense to be included in Operating Expenses) and shall thereafter maintain throughout the term of this Lease, a commercial general liability
insurance policy covering the Building with combined single limits for both damage to property and personal injury of not less than Three Million Dollars ($3,000,000) per occurrence, subject to annual
aggregate limits of not less than Five Million Dollars ($5,000,000), which policy shall be considered primary as to occurrences in the Common Areas. Such insurance also shall extend to any liability
of Landlord arising out of its indemnities in this Lease. All such policies procured and maintained by Landlord pursuant to this Section 11.3 shall be carried with companies licensed to do
business in the State of Nevada. 

        11.4    Waiver of Subrogation.    Notwithstanding anything to the
contrary contained herein, to the full extent permitted by law, Landlord and Tenant hereby waive any rights each may have against the other on account of any loss or damage occasioned to Landlord or
Tenant, their respective property, the Premises or its contents, or to other portions of the Project, arising from any risk to the extent covered by the insurance required hereunder. Landlord and
Tenant shall each make its best efforts to obtain from its insurers under all policies of fire, theft, public liability and other insurance maintained by it at any time during the term of this Lease
insuring or covering the Building or any portion thereof or operations therein, a waiver by the insurer of all rights of subrogation which the insurer might have against the other. The foregoing
waivers of subrogation shall be operative only so long as available without invalidating either Landlord's or Tenant's policy of insurance. 

15

 

ARTICLE 12
  USE OF PREMISES  

        12.1    Use.    Tenant shall use the Premises solely for the purposes
set forth in Section 1.13. Landlord or Tenant shall not do or permit anything to be done in or about the Premises nor bring or keep anything therein which will in any way cause the cancellation
or increase the existing rate of any fire or other insurance upon the Premises or the Project. Landlord or Tenant shall not do or permit anything to be done in or about the Premises which will
obstruct or interfere with the reasonable rights of other tenants or occupants of the Project and Landlord or Tenant shall prevent odors, emissions, fumes, liquids or other substances or excessive
noise from escaping or extending beyond the Premises, nor shall Landlord or Tenant use or allow the Premises or common areas of the Project to be used for any unlawful or extra hazardous purpose.
Tenant shall refrain from using or permitting the use of the Premises or any portion thereof as living quarters, sleeping quarters or for lodging purposes. Tenant shall, at its sole cost and expense,
promptly comply in all material respects with all applicable federal, state, county, or municipal laws, ordinances, rules, regulations, directives, covenants, restrictions, orders and/or requirements
now in force or which may hereafter be in force with respect to Tenant's specific use and occupancy of the Premises. The judgment of any court of competent jurisdiction or the admission of Landlord or
Tenant in any action against Landlord or Tenant, whether Landlord or Tenant be a party thereto or not, that Landlord or Tenant has violated any related law, statute, ordinance or requirement, shall be
conclusive of that fact as between Landlord and Tenant. 

        12.2    Environmental Compliance.    The term
"Hazardous Substances," as used in this Lease, shall include, without limitation, flammables, explosives, radioactive materials, asbestos,
polychlorinated biphenyls (PCBs), chemicals known to cause cancer or reproductive toxicity, pollutants, contaminants, hazardous wastes, toxic substances or related materials, petroleum and petroleum
products, and substances declared to be hazardous or toxic under any law or regulation now or hereafter enacted or promulgated by any governmental authority. 

        Tenant
shall not cause or permit to occur: 

	(a)
	Any
violation of any federal, state, or local law, ordinance, or regulation now or hereafter enacted, related to environmental conditions on, under, or about the Premises, or arising
from Tenant's use or occupancy of the Premises, including, but not limited to, soil and ground water conditions; or

	(b)
	The
use, generation, release, manufacture, refining, production, processing, storage, or disposal of any Hazardous Substance on, under, or about the Premises, or the transportation to
or from the Premises of any Hazardous Substance. 

        Tenant
shall, at Tenant's own expense, comply with all laws regulating the use, generation, storage, transportation, or disposal of Hazardous Substances
("Laws"). 

        Tenant
shall, at Tenant's own expense, make all submissions to, provide all information required by, and comply with all requirements of all governmental authorities (the
"Authorities") under the Laws. 

        Should
any Authority or any third party demand that a cleanup plan be prepared and that a clean-up be undertaken because of any deposit, spill, discharge, or other release of
Hazardous Substances that occurs during the term of this Lease, at or from the Premises, and/or which arises at any time from Tenant's use or occupancy of the Premises, then Tenant shall, at Tenant's
own expense, prepare and submit the required plans and all related bonds and other financial assurances; and Tenant shall carry out all such cleanup plans. 

        Tenant
shall promptly provide all information regarding the use, generation, storage, transportation, or disposal of Hazardous Substances that is requested by Landlord. If Tenant fails
to 

16

 

fulfill
any duty imposed under this Section 12.2 within a reasonable time, Landlord may do so; and in such case, Tenant shall cooperate with Landlord in order to prepare all documents Landlord
deems necessary or appropriate to determine the applicability of the Laws to the Premises and Tenant's use thereof, and for compliance therewith, and Tenant shall promptly execute all documents
reasonably requested by Landlord. No such action by Landlord and no attempt made by Landlord to mitigate damages under any Law shall constitute a waiver of any of Tenant's obligations under this
Section 12.2. 

        Tenant
shall indemnify, defend, and hold harmless Landlord, the manager of the property, and their respective officers, directors, beneficiaries, shareholders, partners, agents, and
employees from all fines, suits, procedures, claims, and actions of every kind, and all costs associated therewith (including attorneys' and consultants' fees) arising out of or in any way connected
with any deposit, spill, discharge, or other release of Hazardous Substances that occurs during the term of this Lease, at or from the Premises, and which arises at any time from Tenant's use or
occupancy of the Premises, or from Tenant's failure to provide all information, make all submissions, and take all steps required by all Authorities under the Laws and all other environmental laws,
provided, however, that the foregoing indemnity is limited to matters arising solely from Tenant's violation of the covenants contained in subsections (a) and (b) above. 

        Tenant's
obligations and liabilities under this Section 12.2 shall survive the expiration of this Lease. 

        12.3    Landlord's Right of Entry.    Landlord or its agents, at
reasonable times, may enter into the Premises without any liability whatsoever for the purposes of (i) inspecting the Premises; (ii) inspecting the performance by Tenant of the terms and
conditions hereof; (iii) showing the Premises to prospective purchasers, partners, or mortgagees; (iv) inspecting, repairing or maintaining the Common Area and the Project, if it is
reasonably necessary for the Landlord to enter the Premises to do so; and (v) making such repairs, alterations, improvements or additions as Landlord may deem necessary or desirable, and
Landlord shall be allowed to take all material into and upon the Premises that may be reasonably required therefore without the same constituting an eviction of Tenant in whole or in part, and the
rents reserved herein shall not abate while said repairs, alterations, improvements or additions are being made, by reason of loss or interruption of business of Tenant or otherwise. Except in the
case of an emergency, Landlord shall give Tenant reasonable notice of any and all intended entries or inspections pursuant to this Section. 

ARTICLE 13
  MAINTENANCE AND REPAIR OF PREMISES  

        13.1    Tenant's Obligations.    Subject to Landlord's obligations in
Section 13.3, from and after the date of delivery of the Premises to Tenant, and continuously thereafter until the Expiration Date, Tenant, at Tenant's sole expense, shall maintain the Premises
in a first-class appearance, in a condition at least equal to that which existed when Tenant initially opened the Premises for business, and in good order, condition and repair, notwithstanding
ordinary wear and tear and condemnation, as reasonably determined by Landlord (including replacement of parts and equipment, if necessary) the Premises and every part thereof and any and all
appurtenances thereto wherever located and all other repairs, replacements, renewals and restorations, interior and exterior, ordinary and extraordinary, foreseen and unforeseen, and all other work
performed by or on behalf of Tenant pursuant to Exhibit "D" attached hereto. Tenant shall do all acts required to comply with all applicable laws, ordinances, and rules of any public authority
relating to its maintenance obligations as set forth herein. Tenant expressly waives the benefits of any statute now or hereafter in effect which would otherwise afford the Tenant the right to make
repairs at Landlord's expense or to terminate this Lease because of Landlord's failure to keep the Premises in good order, condition and repair. Tenant shall not place a load upon any floor of the
Premises, which exceeds the load per square foot, which such floor was designed to carry, as determined by Landlord or Landlord's structural engineer. 

17

 

        Tenant
shall give Landlord prompt notice of any damage to or defective condition that Tenant has actual knowledge of in any part or appurtenance of the Building's mechanical, electrical,
plumbing, HVAC or other systems serving, located in, or passing through the Premises. 

        13.2    Landlord's Cure.    If Tenant fails to commence any of the
Tenant's obligations listed in Section 13.1 within ten (10) days after receipt of Landlord's written demand to perform such obligations, or fails to adequately complete the performance
of such obligations within a reasonable time after commencement, then Landlord may, but is not obligated to, perform such obligations without liability to Tenant for any loss to Tenant's property or
business that might arise by reason thereof. Tenant shall reimburse Landlord on demand in an amount equal to the cost incurred by Landlord in the performance of such obligations plus an administrative
fee equal to ten percent (10%) of the cost incurred by Landlord. 

        13.3    Landlord's Obligations.    Except for damage caused by any
willful misconduct of Tenant, Tenant's employees, suppliers, shippers, customers or invitees, (in which event Tenant shall repair the damage), Landlord, as an Operating Expense, shall keep in good
condition and repair the foundations, the Building HVAC system, plumbing, exterior walls, structural condition of interior bearing walls, roof structure of the Premises, Parking Area, utility
installations of the Common Facilities and all parts thereof. Landlord shall not be obligated to paint the Premises interior walls. Landlord shall not be required to maintain, repair or replace the
interior doors, windows or plate glass of the Premises. Landlord shall have no obligation to begin repairs under this Section 13.3 until fifteen (15) days after receipt of written notice
from the Tenant of the need for such repairs except for the operations of the Building HVAC system, electrical system or such systems as will impact Tenant's ability to conduct ongoing business
operations, which shall be repaired on an emergency basis. If Landlord has not performed or undertaken to perform maintenance or repair services required under this Lease within fifteen
(15) days of receipt of written notice from Tenant, Tenant may take such reasonable action as is necessary to make repairs or perform such services and deduct the cost of such performance from
any sums due Landlord hereunder. In case of emergencies, the aforesaid fifteen (15) day period shall be reduced to such period as is reasonable under the circumstances and Tenant shall only be
required to provide oral notice to Landlord. Landlord shall not be liable for damage or loss of any kind or nature by reason of Landlord's failure to furnish any such service when such failure is
caused by strikes, lockout, or any other labor disturbances or disputes of any character beyond the reasonable control of Landlord. 

ARTICLE 14
  ALTERATIONS AND ADDITIONS  

        14.1    Tenant Alterations.    Except for Permitted Alterations (as
defined below),Tenant shall not commence to make any alterations, improvements or additions to the Premises (collectively "Tenant Alterations") without
Landlord's prior written consent in each instance provided, however, Landlord agrees it will not unreasonably withhold, delay or condition its consent to cosmetic or non-structural
alterations or additions which do not involve structure, walls, floors, Building systems, electrical installations or the obtaining of building permits. All alterations, physical additions,
modifications or improvements in or to the Premises (including fixtures) shall, when made, become the property of Landlord and shall be surrendered to Landlord upon termination or expiration of this
Lease; provided, however, that (i) Tenant shall retain title to and shall remove from the Premises movable equipment and furniture owned by Tenant and (ii) Tenant shall repair any damage
caused by such removal. except for nonstructural alterations to the interior of the Premises not exceeding Twenty-five Thousand Dollars ($25,000) annually during the term. If Tenant makes
any Tenant Alterations or commences Tenant's Work without the prior written approval of Landlord, Landlord shall have the right to require that Tenant remove any or all of such Tenant Alterations or
Tenant's Work and repair and any restore damage to the Premises caused by such removal at Tenant's sole expense. Tenant's Work and any 

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Tenant
Alterations shall at all times comply fully with all applicable federal, state and municipal laws, ordinances, regulations, recorded covenants and restrictions/codes and other governmental
requirements now or hereafter in force. 

        Tenant
shall provide Landlord with a written request for approval of Tenant's Work or any Tenant Alterations that Tenant would like to make with proposed detailed plans. Landlord shall
have the right to condition Landlord's prior written consent upon Tenant's: (i) providing Landlord with plans and specifications for the Tenant Alterations or Tenant's Work for Landlord's prior
written approval or the consent of any other tenant; (ii) obtaining a building permit and complying with all building and planning laws and regulations for the Tenant's Work or Tenant
Alterations from appropriate governmental agencies; (iii) furnishing a copy of such building permit and evidence of such compliance to Landlord prior to the commencement of such work;
(iv) complying with all the conditions of such building permit and such building and planning laws and regulations; (v) providing Landlord with a copy of the construction contract and
construction schedule and list of subcontractors and suppliers for Landlord's prior written approval, which shall not be unreasonably conditioned, withheld or delayed; (vi) obtaining a
builder's "all risk" insurance policy in an amount and issued by insurance company reasonably acceptable to Landlord, naming Landlord as an additional insured and otherwise satisfying the requirements
of Article 11 of this Lease; and, (vii) providing Landlord with ten (10) days written notice prior to commencing any such work. Landlord's approval of the plans, specifications
and working drawings for Tenant's Work or any Tenant Alterations shall create no responsibility or liability on the part of Landlord for their completeness, design sufficiency, or compliance with all
laws, rules and regulations of governmental agencies or authorities. Landlord shall not be liable for any damage, loss, or prejudice suffered or claimed by Tenant, its agents or any other person or
entity on account of: (a) the approval or disapproval of any plans, contracts, bonds, contractors, sureties or matters; (b) the construction or performance of any work whether or not
pursuant to approved plans; (c) the improvement of any portion of the Premises or alteration or modification to any portion of the Premises; or, (d) the enforcement or failure to enforce
any of the covenants, conditions and restrictions contained in this Lease. 

        All
work with respect to any addition, alteration or improvement shall be done in a good and workmanlike manner by properly qualified and licensed personnel approved by Landlord, and
such work shall be diligently prosecuted to completion. Landlord may, at Landlord's option, require that any such work be performed by Landlord's contractor, in which case the cost of such work shall
be paid for before commencement of the work. Tenant shall pay to Landlord upon completion of any such work by Landlord's contractor, an administrative fee of fifteen percent (15%) of the cost of the
work. Any such alterations, additions or improvements consented to by Landlord including any roof penetration shall be made at Tenant's sole cost and expense. 

        Tenant
shall provide its own trash container or containers for construction debris; shall promptly remove all construction and related debris from the Premises and all Common Areas;
immediately following completion of construction shall return the Premises and Common Areas to the condition they were in immediately prior to construction; shall repair and restore any portions of
the Common Areas harmed as result of the construction activities to the condition they were in immediately prior to construction; shall use service entrances to the Premises, if any; will conduct no
core drilling, jack hammering or excessive noise during business hours; will disrupt other tenants as little as possible; and will pay to Landlord the amount of any and all damage to the roof caused
by the penetration thereof, and the amount of any and all damages to the Premises, Building and/or Project as a result of roof leaks caused by the penetration. Tenant shall secure any and all
governmental permits, approvals or authorizations required in connection with any such work, and shall indemnify, defend Landlord against, and hold Landlord harmless from any and all liability, costs,
damages (including any damage to the Building, Premises, Common Areas or any part of the Project), expenses (including reasonable attorneys' fees) and any and all liens resulting therefrom. 

19

 

        Under
no circumstances shall Tenant enter upon the Project roof or make any roof penetrations without the prior written consent of Landlord. Any consent of Landlord shall be conditioned
upon Landlord's review and approval of plans satisfactory to Landlord for the repair of the roof. At Landlord's option, any roof penetrations shall be performed by Landlord's roofing contractor, and
Tenant shall reimburse Landlord for the cost thereof and any necessary repair work within thirty (30) days after Tenant's receipt of an invoice therefor. 

        14.2    Construction of Tenant Alterations.    Tenant shall pay when
due all claims for labor or materials furnished to or for Tenant at, on, or for use in the Project or Premises. Tenant shall keep the Premises, the Project, and any interest therein, free and clear of
all mechanics' liens and all other liens. Tenant shall give Landlord immediate written notice of any lien filed against the Premises, the Project or any interest therein related to or arising from
work performed by or for the Tenant. Tenant shall give Landlord not less than ten (10) days' prior written notice of the commencement of Tenant's Work or any Tenant Alterations in the Premises,
and Landlord shall have the right to post notices of non-responsibility in or upon the Premises as provided by law. If Tenant shall in good faith contest the validity of any such lien,
claim or demand, then Tenant, at its sole expense, shall defend, indemnify, protect and hold the Premises, Project and Landlord harmless against the same and shall pay and satisfy any such adverse
judgment that may be rendered thereon before the enforcement thereof against the Tenant, Landlord, the Project, or the Premises. Notwithstanding the foregoing, at
Landlord's request, Tenant shall immediately discharge such lien either by payment of the indebtedness due to the mechanic's lien claimant or by filing a bond (as provided by statute) as security
therefor. Landlord shall have the right to procure such discharge by filing such bond, and Tenant shall pay the cost of such bond to Landlord as additional rent upon the first day thereafter that rent
shall be due hereunder. In addition, Landlord shall have the right to require that Tenant pay Landlord's attorneys' fees and disbursements, court costs and other costs in defending any such action if
Landlord is named as a party to any such action, the lien encumbers any portion or interest in the Project and/or if Landlord elects to defend any such action or lien. 

        14.3    Title to Tenant Alterations.    Any and all Tenant's Work and
Tenant Alterations which may be made in or upon the Premises shall become the property of Landlord and remain upon and be surrendered with the Premises at the expiration of the Term without
compensation to Tenant; provided, however, that (i) Tenant shall retain title to and shall remove from the Premises movable equipment and furniture owned by Tenant and (ii) Tenant shall
repair any damage caused by such removal unless Landlord requires that Tenant remove the Tenant's Work or Tenant Alterations pursuant to Article 15 hereof. Said requirement to remove any of
Tenant's Work or Tenant Alterations shall be made in writing by Landlord to Tenant at such time Tenant makes the request for Landlord's approval. 

        14.4    General.    Landlord may require, at Landlords sole option,
that Tenant provide to Landlord, at Tenants expense, a lien and completion bond in an amount equal to at least one and one-half (11/2) times the total estimated cost of any
additions, alterations or improvements to be made in or to the Premises, to protect Landlord against any liability for mechanic's and materialmen's liens and to insure timely completion of the work.
Nothing contained in this Section shall relieve Tenant of its obligation to keep the Premises, Building and Project free of all liens, or comply with the provisions of Chapter 108 of the Nevada
Revised Statutes, as amended. 

        14.5    Applicable Laws.    Throughout the term of this Lease all
Tenant's construction, use of the Premises and alterations, additions and/or improvements to the Premises shall be in accordance with all applicable laws, ordinances and regulations of all duly
constituted authorities, including, without limitation, Title III of the Americans with Disabilities Act of 1990, all regulations issued there under and the Accessibility Guidelines for Buildings and
Facilities issued pursuant thereto, as the same are in effect on the date hereof and may be hereafter modified, amended or supplemented ("Applicable Laws"). Further, any costs, expenses, required
alterations/changes/modifications and/or damages arising from continued compliance with all Applicable Laws shall be the responsibility of Landlord at 

20

 

Landlord's
sole cost and expense. All alterations/changes/modifications to the Premises as required by Applicable Laws shall be made in a timely manner so as to avoid any liability and/or damages
arising there from. 

ARTICLE 15
  TENANT'S PROPERTY  

        15.1    Tenant's Property.    All supplies and movable trade fixtures
owned by Tenant and installed in the Premises at Tenant's sole cost and which may be removed without material damage to the Project ("Tenant's
Property") shall remain the property of Tenant during the Term. Tenant's Property (a) may be removed from the Premises from time to time during the Term and
(b) at the expiration of the Term or earlier termination thereof shall be removed from the Premises provided: (i) Tenant shall not at such time be in default, or with notice or the
passage of time or both would be in default under any term, covenant, condition or provision of this Lease; (ii) Tenant shall repair to the reasonable satisfaction of Landlord, any damage to
the Premises caused by the removal of Tenant's Property; and (iii) Tenant immediately replaces any such Tenant's Property (which is removed prior to the end of the Term) with similar property
of comparable or better quality to assure that the Premises are suitable for conducting business in accordance with Article 6 hereof until the Expiration Date. 

        15.2    Surrender of Premises.    On the Expiration Date or on the
sooner termination hereof, Tenant shall peaceably surrender the Premises in accordance with the terms of this Section and in good order, condition and repair, broom clean, excepting only reasonable
wear and tear and damage by fire, condemnation and other unavoidable casualty which Landlord is required to repair hereunder. The provisions of this Section shall survive termination of this Lease.
Landlord may, however, designate by written notice to Tenant at the time Tenant requested Landlord's approval for said alterations, decoration, additions or improvements, those alterations,
decorations, additions or improvements which shall be removed from the Premises by Tenant at the expiration or earlier termination of this Lease and Tenant shall promptly remove the same and repair,
to the reasonable satisfaction of Landlord, any damage to the Premises or Project caused by such removal. Tenant shall promptly surrender all keys for the Premises to Landlord at the place then fixed
for notice to Landlord and shall inform Landlord of the combinations on any locks and safes on the Premises. If Tenant abandons or surrenders the Premises, or is dispossessed by process of law or
otherwise, any of Tenant's Property left on the Premises shall be deemed to be abandoned, and, at Landlord's option, title shall pass to Landlord under this Lease as by a bill of sale. If Landlord
elects to remove all or any part of such Tenant's Property, the cost of removal, including repairing any damage to the Premises or Building caused by such removal, shall be paid by Tenant. 

ARTICLE 16
  DAMAGE AND DESTRUCTION  

        16.1    Reconstruction of Damaged Premises.    If the Premises is
damaged, through no fault of Tenant, or its employees, supplies, customers or invitees, Landlord shall repair that damage as soon as reasonably possible, at its expense, unless: (i) Landlord
reasonably determines that the cost of repair would exceed twenty percent (20%) of the full replacement cost of the Building ("Replacement Cost") and
the damage is not covered by Landlord's fire and extended coverage insurance or (ii) Landlord reasonably determines that the cost of repair would exceed fifty percent (50%) of the Replacement
Cost; or (iii) Landlord reasonably determines that the cost of repair would exceed ten percent (10%) of the Replacement Cost and the damage occurs during the final twelve (12) months of
the Term. Should Landlord elect not to repair the damage for one of the preceding reasons, Landlord shall so notify Tenant in writing within sixty (60) days after the damage occurs and Tenant
shall elect to either (i) repair the damage at its cost and deduct the cost thereof from any future Base Rent due Landlord on a prorata basis amortized over the remaining months of the
operative Term, or (ii) terminate this 

21

 

Lease
and this Lease shall terminate as of the date of that notice and the obligations of the parties shall terminate as if the Lease Term had naturally expired. Unless either party elects to
terminate this Lease in accordance with the above, this Lease shall continue in effect for the remainder of the Term. However, provided that if the damage to the Premises is so extensive that it
prevents Tenant's substantial use and enjoyment of the Premises for more than thirty (30) consecutive days, then Tenant may elect to terminate this Lease by written notice to Landlord within
ten (10) days from and after Tenant's inability to use the Premises for thirty (30) consecutive days and this Lease shall terminate as of the date of that notice and the obligations of
the parties shall terminate as if the Lease term had naturally expired. Commencing on the date of any damage to the Premises which renders a portion thereof unusable, and ending on the date the damage
is repaired or this Lease is terminated, whichever occurs first, the rental to be paid under this Lease shall be abated in the same proportion that the floor area of the Premises that is rendered
unusable by the damage bears to the total floor area of the Premises. Notwithstanding the provisions of the above subsections of this Section, if the damage is due to the negligence or willful
misconduct of Tenant or its employees, subtenants, invitees or representatives, the cost of any repairs not covered by Landlord's or Tenant's insurance on the Building shall be borne by the Tenant,
and Tenant shall not be entitled to rental abatement or termination rights. In addition, the provisions of this Section shall not be deemed to require Landlord to repair any improvements or fixtures
installed by Tenant. 

ARTICLE 17
  EMINENT DOMAIN  

        17.1    Total or Partial Condemnation of Leased Premises.    If all or
a material portion of the Premises is taken by any lawful authority by exercise of the right of eminent domain, or sold to prevent a taking, either Tenant or Landlord may terminate this Lease
effective as of the date possession is required to be surrendered to the authority. In the event title to a portion of the Building is taken or sold in lieu of taking, and if Landlord elects to
restore the Building in such a way as to materially alter the Premises or Tenant's reasonable use thereof, Landlord or Tenant may terminate this Lease, by written notice to the other, effective on the
date of vesting of title. In the event neither party has elected to terminate this Lease as provided above, then Landlord shall promptly, after receipt of a sufficient condemnation
award, proceed to restore the Premises to substantially their condition prior to the taking, and a proportionate allowance shall be made to Tenant for the rent corresponding to the time during which,
and to the part of the Premises of which Tenant is deprived on account of the taking and restoration. In the event of a taking, Landlord shall be entitled to the entire amount of the condemnation
award without deduction for any estate or interest of Tenant; provided that nothing in this Section shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against
the taking authority for the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority. 

        17.2    Landlord's and Tenant's Damages.    In the event of any
taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be the exclusive property of Landlord, and Tenant hereby assigns to
Landlord all of its right, title and interest in any award, judgment or settlement from the condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not
reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and damage to Tenant's
personal property. 

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   ARTICLE 18
  INDEMNIFICATION AND GUARANTY  

        18.1    Tenant Indemnification.    Tenant shall indemnify, protect,
defend and hold Landlord and its agents, employees, partners, officers, affiliates, subsidiaries, members, managers, directors, and representatives ("Landlord's
Indemnities") harmless from and against any and all losses, damages (whether actual or otherwise), liabilities, actions, causes of action (whether legal, equitable or
administrative), claims, judgments, costs, and expenses, including Landlord's Indemnities' attorneys' fees and disbursements, and court costs which Landlord may suffer or incur as a direct or indirect
consequence of Tenant's use or occupancy of the Premises, or the Common Areas, or from the conduct of its business, or from any activity, work or thing done by Tenant or its agents, employees,
invitees or licensees in or about the Premises or the Common Areas, or from any negligent act or willful misconduct of Tenant or its agents, employees, or licensees, unless caused by the negligence or
willful misconduct of Landlord, its agents or employees. In case Landlord's Indemnities are made a party to any litigation commenced by or against Tenant, then Tenant shall protect and hold Landlord
harmless and shall pay all reasonable costs, expenses and reasonable attorneys' fees incurred or paid by Landlord in connection with the litigation. 

        18.2    Landlord Indemnification.    Landlord shall defend, indemnify
and hold harmless Tenant, its agents and any and all affiliates of Tenant, including, without limitation, any partners, co-venturers, corporations or other entities controlling, controlled
by or under common control with Tenant, from and against any and all claims or liabilities arising either before or after the Commencement Date from the negligent acts or willful misconduct of
Landlord, its agents, employees, licensees, invitees or affiliates (excluding consequential damages). In case Tenant, its agents or affiliates are made a party to any litigation commenced by or
against Landlord, then Landlord shall protect and hold Tenant harmless and shall pay all reasonable costs, expenses and reasonable attorneys' fees incurred or paid by Tenant in connection with the
litigation. 

        18.3    Guaranty.    All of Tenant's obligations under this Lease are
and shall be guaranteed by the Guarantor designated in Section 1.14 pursuant to a guaranty in the form of Exhibit "G" attached hereto. 

ARTICLE 19
  DEFAULTS AND REMEDIES  

        19.1    Events of Default.    The occurrence of any of the following
events shall constitute an event of default and a material breach of this Lease on the part of Tenant: 

        A.    Vacation, Abandonment.    The abandonment of the Premises by
Tenant. Abandonment is defined to include, but not limited to, any absence by Tenant from the Premises for thirty (30) consecutive days (or longer) or sixty (60) days (whether
consecutive or not) in any calendar year accompanied by Tenant's failure to pay rent during the abandonment period (exclusive of holidays and weekends). 

        B.    Failure to Make Payment.    Tenant's failure to pay any rent or
other sums due hereunder on the date when such payment is due, where such failure continues for five (5) business days after such payment is due. 

        C.    Attachment.    If a writ of attachment or execution is levied on
this Lease or on any of Tenant's Property or if Tenant makes a general assignment for the benefit of creditors, or provides for an arrangement, composition, extension or adjustment with its creditors. 

        D.    Failure to Perform Other Covenants.    Tenant's breach or
failure to perform any of Tenant's other material covenants, agreements or obligations hereunder, where such breach or failure 

23

 

continues
for a period of thirty (30) days after Tenant's receipt of written notice thereof from Landlord. 

        E.    Intentionally Deleted.    

        F.    Bankruptcy Related.    If Tenant files a voluntary petition for
relief or if a petition against Tenant in a proceeding under the federal bankruptcy laws or other insolvency laws is filed and not withdrawn or dismissed within sixty (60) days thereafter, or
if under the provisions of any law providing for reorganization or winding up of corporations, any court of competent jurisdiction assumes jurisdiction, custody or control of Tenant or any substantial
part of its property and such jurisdiction, custody or control remains in force unrelinquished, unstayed or unterminated for a period of forty-five (45) days. If in any proceeding
or action in which Tenant is a party, a trustee,
receiver, agent or custodian is appointed to take charge of the Premises or Tenant's Property (or has the authority to do so) for the purpose of enforcing a lien against the Premises or Tenant's
Property. 

        G.    Failure to Complete Tenant's Work.    Tenant's failure to
complete Tenant's Work in accordance with the terms, covenants and conditions of this Lease on or before the Lease Commencement Date, where such failure continues for a period of ninety
(90) days after Tenant's receipt of written notice thereof from Landlord. 

        19.2    Remedies.    Upon the occurrence of an event of default by
Tenant as set forth in Section 19.1 above, Landlord shall have the following rights and remedies, in addition to any and all other rights and remedies available to Landlord at law or in equity. 

        A.    Terminate Lease.    Landlord shall have the right to terminate
this Lease and all rights of Tenant hereunder by giving written notice to Tenant. If the Lease is so terminated, then Landlord may recover from Tenant all actual damages sustained by Landlord,
including, without limitation, deficiency in rent, reasonable attorneys' fees, other collection costs, brokerage fees, and expenses of placing the Premises in good order. Landlord's putting the
Premises in good order or preparing the same for rental shall not operate to release Tenant from this Lease. 

        B.    Reenter Premises.    Landlord shall also have the right, with or
without terminating this Lease, to reenter the Premises and any property that Tenant leaves in the Premises shall be deemed to have been abandoned and may either be retained by Landlord as the
property of Landlord or may be disposed of at public or private sale in accordance with applicable law as Landlord sees fit. The proceeds of any public or private sale of Tenant's property, or the
then current fair market value of any property retained by Landlord, shall be applied by Landlord against (i) the expenses of Landlord for removal, storage or sale of the property;
(ii) the arrears of rent or future rent payable under this Lease; and (iii) any other damages to which Landlord may be entitled hereunder. Further, Landlord may, upon presentation of
evidence of a claim valid upon its face of ownership or for security interest in any of Tenant's property abandoned in the Premises, turn over such property to the claimant with no liability to
Tenant. 

        C.    Maintain Lease; Relet Premises.    Unless Landlord elects to
terminate this Lease as provided in Subsection 19.2(A) above, Landlord may from time to time, without terminating this Lease, either recover all rent as it becomes due or relet the Premises or
any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable, with the right to clean and to
make alterations and repairs to the Premises at Tenant's sole expense. 

        If
Landlord elects to relet as provided herein, then rent received by Landlord from such reletting shall be applied at Landlord's option: first, to the payment of any indebtedness other
than rent due hereunder from Tenant to Landlord; second, to the payment of any costs of such reletting incurred by Landlord, including attorneys' fees, tenant improvements, court costs and brokerage 

24

 

commissions;
third, to the payment of the cost of any cleaning, alterations and repairs to the Premises; fourth, to the payment of rent and other charges due and unpaid hereunder; and the balance, if
any, shall be applied in payment of future rent as the same may become due and payable hereunder. If the portion of such rentals received from such reletting during any month which is applied to the
payment of rent under the reletting lease is less than the rent payable during that month by Tenant hereunder, then Tenant shall pay any such deficiency to Landlord immediately upon demand by
Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, upon Landlord's demand, the costs and expenses incurred by Landlord in such reletting, including
attorneys' fees, court costs, tenant improvements and brokerage commissions and in making any alterations and repairs to the Premises. 

        No
reentry, acts of maintenance or preservation, efforts to relet, or taking possession of the Premises by Landlord or the appointment of a receiver upon initiative of the Landlord to
protect the Landlord's interest under the Lease shall be construed as an election to terminate this Lease unless an express written notice of such intention is delivered to Tenant or unless the
termination thereof is decreed by a court of competent jurisdiction. Notwithstanding any reletting of the Premises without termination of this Lease by Landlord, Landlord may at any time after such
reletting elect to terminate this Lease, in which case, Landlord shall have all the rights and remedies provided by law or equity or this Lease upon termination. 

        D.    Performance by Landlord.    If Tenant breaches or fails to
perform any of Tenant's obligations under this Lease and the breach or failure continues for thirty (30) days (or such shorter time period as may be specified otherwise in this Lease) after
Landlord gives Tenant written notice of the breach or failure, Landlord, without thereby waiving or curing such may, but shall not be obligated to, perform any such obligation for the account and at
the expense of Tenant. Landlord may also so perform any such obligation without notice in case of an emergency. 

        19.3    Late Charges.    Landlord and Tenant agree that the fixing of
actual damages for Tenant's breach of any of the provisions of this Lease, including but not limited to the late payment by Tenant to Landlord of rent and other amounts due hereunder, would cause
Landlord to incur costs not contemplated by this Lease, the exact amount of which would be extremely difficult or impracticable to ascertain. Such costs include but are not limited to accounting,
processing, administrative, legal and clerical charges and late charge which may be imposed upon Landlord by the terms of any mortgage covering the Premises. Accordingly, if any installment of rent or
any other sum due from Tenant hereunder has not been received by Landlord or Landlord's agent within five (5) business days after such amount was due, Tenant shall pay to Landlord a late charge
equal to five percent (5%) of any such delinquent installment of rent or any other delinquent sum due from Tenant. Tenant hereby agrees that said late charge represents a fair and reasonable estimate
of the cost Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall not constitute a waiver of
Tenant's default with respect to such overdue amount nor prevent Landlord from exercising any other rights and remedies provided for in this Lease, at law or in equity. Tenant understands and agrees
to the foregoing provisions relating to late charges. 

        19.4    Interest on Past Due Obligations.    Any and all amounts not
paid to Landlord when due, including but not limited to rent, late charges and interest shall bear interest at the so-called "Prime Rate" published in The Wall
Street Journal, as the same may change from time to time, plus one percent (1%) per annum, not to exceed the highest rate then allowed under any applicable usury laws
("Remedy Rate") from the date due until paid. Payment of such interest shall not excuse or cure any default by Tenant under this Lease and shall not
affect any rights and remedies provided to Landlord in this Lease or at law or in equity, all of which shall be cumulative. 

        19.5    Landlord's Default.    Landlord shall in no event be charged
with default in the performance of any of its obligations hereunder unless and until Landlord shall have failed to perform such 

25

 

obligations
within thirty (30) days (or such additional time as is reasonably necessary to correct any such failure) after receipt of written notice by Landlord from Tenant properly specifying
which obligations Landlord has failed to perform. It is expressly understood and agreed that any money judgment against Landlord resulting from any default or other claim arising under this Lease
shall be satisfied only out of the proceeds of sale received upon execution of such judgment and levied thereon against the right, title and interest of Landlord in the Project and out of the rents or
other income from such property receivable by Landlord, or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord's right, title and interest
in the Project, subject, nevertheless, to the rights of Landlord's mortgagee and Landlord shall not be liable for any deficiency. No other real, personal or mixed property of Landlord (the term
"Landlord", for purposes of this Section only, shall mean any and all members, managers, owners of either of them, partners, both general and limited,
and partners of partners, which comprise Landlord), wherever situated, shall be subject to levy on any such judgment obtained against Landlord. 

ARTICLE 20
  SUBORDINATION AND ATTORNMENT  

        20.1    Subordination.    At Landlord's option, this Lease is and
shall be subordinate to any ground lease, mortgage, deed of trust and/or any other hypothecation or security document and advances and obligations thereunder now or hereafter placed upon the Premises
or the Project, and any renewals, modifications, consolidations, replacements, and extensions thereof (collectively "Mortgage"), provided Tenant's right
to quiet possession under this Lease shall not be disturbed so long as Tenant is not in default, or with notice or passage of time or both would not be in default, under the terms, covenants,
conditions and provisions of this Lease. Such subordination shall be effective upon notice from
Landlord to Tenant without any further act of Tenant. Upon the request of Landlord, Tenant shall, from time to time, execute and deliver any documents or instruments that may be required by Landlord
or the mortgagee, beneficiary, ground Landlord or lender (collectively "Landlord's Lender") under any such Mortgage, to effectuate any subordination,
provided that Landlord's Lender agrees not to disturb Tenant's right to quiet possession under this Lease so long as Tenant is not in default, or with notice or passage of time or both would not be in
default, under the terms, covenants, conditions and provisions of this Lease. If Tenant fails to execute and deliver any such documents or instruments, Tenant irrevocably constitutes and appoints
Landlord as Tenant's attorney-in-fact, to execute and deliver any such documents or instruments. If Landlord's Lender elects to have this Lease prior to the lien of its
Mortgage, and gives written notice to Tenant of such election, this Lease shall be deemed prior to such Mortgage regardless of the respective dates of execution, delivery and recordation of this Lease
and any such Mortgage. 

        20.2    Attornment.    Tenant hereby attorns to and shall recognize
the Landlord's Lender as Tenant's landlord under this Lease and shall promptly execute and deliver any instrument that Landlord may require to evidence such attornment. Tenant hereby irrevocably
appoints Landlord as Tenant's attorney-in-fact, coupled with an interest, to execute, acknowledge and deliver the instrument of attornment on behalf of Tenant. 

        20.3    Estoppel Certificate.    Tenant shall, at any time not less
than fifteen (15) days after prior written notice from Landlord, execute, acknowledge and deliver to Landlord, a statement, in writing; (i) certifying that this Lease is unmodified and
in full force and effect (or, if modified, stating the nature of the modification and certifying that this Lease is otherwise unmodified and in full force and effect) and the dates to which the
rental, additional rent and other charges have been paid in advance, if any, and (ii) acknowledging that, to Tenant's knowledge, there are no uncured defaults on the part of Landlord, or
specifying each default if any are claimed, and (iii) setting forth all further information that Landlord may reasonably require. Tenant's statement may be relied upon by any prospective
purchaser or encumbrancer of all or any portion of the Building or Project. 

26

 

        Tenant's
failure to deliver any Landlord estoppel statement within the provided time shall be conclusive upon Tenant that: (i) this Lease is in full force and effect without
modification except as may be represented by Landlord, and (ii) there are no uncured defaults in Landlord's performance. 

        20.4    Limitation of Liability.    Neither the holder of a mortgage
nor the holder of a deed of trust to which this Lease is or may be subordinate, shall be responsible in connection with the Security Deposit unless such mortgagee or holder of such deed of trust shall
have actually received the Security Deposit. Landlord shall not be liable for any damages arising from any act or neglect of any other tenant of Landlord. Further, in no event shall Landlord incur any
liability to Tenant, its employees, agents, customers or invitees as a result of any failure of any security system installed at the Project or any security procedure instituted at the Project.
Landlord makes no representations or warranties concerning the ability of Landlord or its employees, agents, contractors or subcontractors to maintain
the Project, the Common Area or the Premises in a secure fashion. In the event of any sale or transfer by Landlord of the Premises, Building or Project, and assignment of this Lease by Landlord,
Landlord shall be and is hereby entirely freed and relieved of any and all liability and obligations contained in or derived from this Lease arising out of any act, occurrence or omission relating to
the Premises, Building, Project or Lease occurring after the consummation of such sale or transfer, providing the purchaser shall expressly assume all of the covenants and obligations of Landlord
under this Lease. If any security deposit or prepaid Rent has been paid by Tenant, Landlord may transfer the security deposit or prepaid Rent to Landlord's successor and upon such transfer, Landlord
shall be relieved of any and all further liability with respect thereto. 

ARTICLE 21
  FORCE MAJEURE  

        If either party hereto shall be delayed in or prevented from the performance of any act required hereunder by reason of acts of God, labor troubles, inability to
procure materials, restrictive governmental laws or regulations or other causes without fault and beyond the control of the party obligated (financial inability excepted), performance of such act
shall be excused for the period of the delay and the period for the performance of any such act shall be extended for a period equivalent to the period of such delay; provided, however, nothing in
this Article shall delay the Lease Commencement Date or excuse Tenant from the prompt payment of any rent or other charge required of Tenant hereunder, except as may be expressly provided elsewhere in
this Lease. 

ARTICLE 22
  ASSIGNMENT AND SUBLETTING  

        22.1    Assignment and Subletting.    Tenant may sublet or permit the
Premises or any part thereof (excluding the roof area or portions thereof) to be used or occupied by others, only with the prior written consent of Landlord in each instance, which consent shall not
be unreasonably withheld, conditioned or delayed, and any such sublease, or permission for occupancy without such consent shall be voidable at the option of Landlord. If this Lease is assigned, or if
the Premises or any part thereof is sublet or occupied by any party other than Tenant, Landlord may, after default by Tenant, collect rent from the assignee, subtenant or occupant, and apply the net
amount collected to the rent herein reserved, but no such assignment, subletting, occupancy or collection shall be deemed a waiver by Landlord of Tenant's default, or the acceptance of the assignee,
subtenant or occupant as a tenant, or a release of Tenant from the further performance by Tenant of the obligations on the part of Tenant set forth herein. The consent by Landlord to an assignment or
subletting shall not be construed to relieve Tenant, the assignee or the subtenant from obtaining the express consent in writing of Landlord to any further assignment or subletting or to release
Tenant from any liability, whether past, present, or future, under this Lease or from any liability under this Lease because of Landlord's failure to give notice of default by Tenant (or by the
assignee or subleases pursuant to the assumption agreement described 

27

 

below)
under any of the terms, covenants, conditions, provisions or agreements or this Lease. A transfer of control of Tenant shall be deemed an assignment under this Lease and shall be subject to all
of the provisions of this Article, including but not limited to the requirement of obtaining Landlords prior written consent, unless Tenant at the time of the proposed transfer is then a publicly held
corporation. Notwithstanding the foregoing, no consent shall be required for an assignment or subletting by Tenant to any subsidiary of Tenant, its affiliate or related company. Furthermore, Tenant
shall retain any profits, which result from an assignment or sublease. 

        No
subletting or assignment, even with the consent of Landlord, shall relieve Tenant of its obligation to pay rent and to perform all its other obligations under this Lease unless
otherwise agreed by the parties in writing. Moreover, Tenant shall indemnify and hold Landlord harmless for any acts or omissions by an assignee or subtenant. Each transferee, other than Landlord,
shall assume all obligations of Tenant under this Lease and shall be liable jointly and severally with Tenant for the payment of all rent and for the due performance of all of Tenant's obligations
under this Lease. No transfer shall be binding upon Landlord unless any document memorializing the transfer is delivered to Landlord and, if the transfer is an assignment or sublease, both the
assignee/subtenant and Tenant deliver to Landlord an executed document which contains: (i) a covenant of assumption by the assignee/subtenant, and (ii) an indemnification agreement by
Tenant, both reasonably satisfactory in substance and form to Landlord and consistent with the requirements of this Article; provided that, the failure of the assignee/subtenant or Tenant to execute
the instrument of assumption shall not release either from any obligation under this Lease. 

        The
acceptance by Landlord of any payment due under this Lease from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or be a consent to any
transfer. Consent by Landlord to one or more transfers shall not operate as a waiver or estoppel to the future enforcement by Landlord of its rights under this Lease. 

        22.2    Request for Transfer.    If Tenant desires to sublease all or
a portion of the Premises or assign this Lease and provided Tenant is not in default hereunder, Tenant shall give written notice to Landlord setting forth the name and address and the current
certified financial statements of the proposed assignee or sublessee, the experience and background of the proposed assignee or sublessee, the terms of the proposed assignment or subletting, and such
other information as Landlord or its mortgagee may reasonably request in connection therewith. Landlord agrees not to unreasonably withhold its approval of any proposed sublease or assignment to any
proposed tenant whose proposed use of the Premises (or portion thereof) is consistent with and comparable to the use of other Class "A" office buildings in the vicinity.Landlord shall have the right,
exercisable by written notice to Tenant, within thirty (30) days after receipt of Tenant's notice, to consent, which consent shall not be unreasonably withheld, conditioned or delayed, and if
Landlord fails to notify Tenant, it shall be deemed to have refused to have consented thereto. 

ARTICLE 23
  NOTICES  

        All notices, information, requests or replies ("Notice") required or permitted to be given hereunder shall be
given in writing and shall be sent by United States registered or certified mail postage prepaid, or by nationally recognized overnight delivery service (provided that such service is able to furnish
evidence of receipt or refusal of delivery) addressed to the addresses of Tenant and Landlord specified as "Addresses for Notices and Reports" in Section 1.17, or at such other place as either
Landlord or Tenant may, from time to time designate in a written notice by certified mail given to the other. Notice shall be deemed to be given upon the earlier of receipt (or refusal to receive) of
same by the party to whom the Notice is sent or three (3) business days after the date of the mailing thereof. 

28

 

ARTICLE 24
  QUIET ENJOYMENT  

        Tenant, upon keeping, observing and performing all of the covenants and agreements of this Lease on its part to be kept, observed; and performed, shall lawfully
and quietly hold, occupy and enjoy the Premises during the Term of this Lease. 

ARTICLE 25
  ATTORNEYS' FEES  

        In the event that Landlord retains an attorney with respect to the enforcement of any provision of this Lease, Tenant shall pay to Landlord all fees and costs
incurred by Landlord in connection therewith.
Should either party commence an action against the other to enforce any obligation hereunder, the prevailing party shall be entitled to recover the costs thereof and attorneys' fees actually incurred
by such prevailing party (including the fees and charges of legal assistants or other non-attorney personnel performing services under the supervision of an attorney), whether or not such
litigation is prosecuted to judgment. Landlord and Tenant covenant and agree that Landlord and Tenant intend by this Article to compensate for attorneys' fees actually incurred by the prevailing party
at such attorney's then normal hourly rates and that this Article shall constitute an instruction to the court that such rate or rates shall be deemed reasonable. 

ARTICLE 26
  WAIVER  

        No waiver of any default or breach of any covenant by either party hereunder shall be implied from any omission by either party to take action on account of such
default if such default persists or is repeated. Landlord's acceptance of any payment which is less than that required to be paid by Tenant shall be deemed to have been received only on account of the
obligation for which it is paid and shall not be deemed an accord and satisfaction, notwithstanding any provisions to the contrary asserted by Tenant, written on any check or contained in any
transmittal letter. The subsequent acceptance of rent hereunder by Landlord shall not be deemed to be a waiver of any preceding breach by Tenant of any term or covenant hereof, other than the failure
of Tenant to pay the particular rent so accepted, regardless of Landlord's knowledge of such preceding breach at the time of acceptance of such rent. An express waiver must be in writing and signed by
a person with the power to contractually bind Tenant or Landlord. An express waiver shall affect only the default specified in the waiver, and only for the time and to the extent expressly stated.
Waivers by either party of any covenant, term, or condition contained herein shall not be construed as a waiver of any subsequent breach of the same covenant, term, or condition. 

ARTICLE 27
  LIMITATION ON CLAIMS  

        Any claim, demand, right or defense of any kind by Tenant, which is based upon, arising in connection with or in any way related to this Lease or the negotiations
prior to its execution, shall be barred unless Tenant commences an action thereon, or interposes in a legal proceeding a defense by reason thereof, within six (6) months after the date of the
inaction or omission or the date of the occurrence of the event or of the action to which the claim, demand, right or defense relates, whichever applies. 

29

 

ARTICLE 28
  BANKRUPTCY  

        28.1    Tenant's Interest Not Transferable.    Neither this Lease, nor
any interest herein nor any estate hereby created shall pass to any trustee or receiver or assignee for the benefit of creditors or otherwise by operation of law, except as may be specifically
provided pursuant to the Bankruptcy Code (11 U.S.C. §101, et, seq.). 

        28.2    Tenant's Obligation to Avoid Creditors' Proceedings.    Tenant
or Tenant's Guarantor, if any, shall not cause or give cause for the institution of legal proceedings seeking to have Tenant or Tenant's Guarantor, if any, adjudicated bankrupt, reorganized or
rearranged under the bankruptcy laws of the United States, and shall not cause or give cause for the appointment of a trustee or receiver for the assets or Tenant or Tenant's Guarantor, if any, and
shall not make any assignment for the benefit of creditors, or become or be adjudicated insolvent. The allowance of any petition under the bankruptcy law, or the appointment of a trustee or receiver
of Tenant or Tenant's Guarantor, if any, or its assets, shall be conclusive evidence that Tenant caused or gave cause thereof, unless such allowance of the petition, or the appointment of a trustee or
receiver, is vacated within thirty (30) days after such allowance or appointment. 

ARTICLE 29
  INTERPRETATION AND APPLICATION  

        29.1    Submission of Lease.    Submission of this instrument for
examination or signature by Tenant does not constitute an offer, a reservation of, option for or option to lease, and it is not effective as a lease or otherwise until execution and delivery by both
Landlord and Tenant. 

        29.2    Governing Law.    This Lease shall be construed in accordance
with and governed by the statutes, decisions, and other laws of the State of Nevada. Tenant hereby consents to the personal jurisdiction and venue of any State court of competent jurisdiction located
in Clark County, Nevada or Federal court located in Las Vegas, Nevada and the service of process by any means authorized by any such State or Federal court. 

        29.3    Complete Agreement.    This Lease, along with only the "side
letter" signed by the Landlord of even date hereto regarding obligations for the payment of rent or additional rent only that Tenant has under its existing lease agreements (the "Prior Leases") with
other landlords, contains all terms, covenants, conditions, warranties and agreements of the parties relating in any manner to the rental, use and
occupancy of the Premises. No prior agreements or understanding pertaining to the same shall be valid or of any force or effect. The terms of this Lease were fully negotiated by the parties hereto and
shall not be construed for or against Landlord or Tenant, because either Landlord or Tenant may have drafted this Lease and this Lease shall be interpreted in accordance with the general meaning of
the language herein contained in an effort to reach the intended result. 

        29.4    Amendment.    This Lease may not be amended, altered or
modified in any way except in writing signed by the parties hereto. 

        29.5    No Partnership.    It is agreed that nothing contained in this
Lease shall be deemed or construed as creating a partnership or joint venture between Landlord and Tenant or between Landlord and any other party, or cause Landlord to be responsible in any way for
the debts or obligations of Tenant or any other party. 

        29.6    No Merger.    The voluntary or other surrender of this Lease
by Tenant, or a mutual cancellation thereof, shall not work as a merger, but shall, at the option of Landlord, either terminate all or any existing subleases or subtenancies, or operate as an
assignment to Landlord of any or all such subleases or subtenancies. 

30

 

        29.7    Severability.    If any provision of this Lease or application
thereof to any person or circumstances shall to any extent be invalid, the remainder of this Lease (including the application of such provision to persons or circumstances other than those to which it
is held invalid) shall not be affected thereby, and each provision of this Lease shall be valid and enforced to the fullest extent permitted by law. 

        29.8    Captions.    The captions of the Articles and Sections hereof
are for convenience only and are not a part of this Lease and do not in any way limit or amplify the terms and provisions of this Lease. 

        29.9    Words.    The words "Landlord" and "Tenant", as used herein,
shall include the plural as well as the singular. Words used in the neuter gender include the masculine and feminine. If Tenant is comprised of more than one individual or entity, the obligations
imposed upon Tenant hereunder shall be joint and several to all parties signing this Lease as Tenant. 

        29.10    Exhibits.    The Exhibits, if any, and any Schedules or
Riders attached to this Lease are incorporated herein by this reference and made a part hereof, and any reference in the body of the Lease or in the
Exhibits, Schedules, or Riders to the Lease shall mean the Lease together with all Exhibits, Schedules and Riders. 

ARTICLE 30
  MISCELLANEOUS  

        30.1    Time.    Time is of the essence of each provision hereof. 

        30.2    Successors.    Subject to the restrictions on transfer
contained in Article 22 hereof, all the terms, covenants and conditions hereof shall be binding upon and inure to the benefit of the heirs, executors, administrators, successors and assigns of
the parties hereto. 

        30.3    Recordation.    Tenant shall not record this Lease or any
memorandum hereof. Landlord has the right in its absolute discretion to record this Lease or a memorandum hereof, and, upon Landlord's request, Tenant shall execute and have acknowledged the same for
recordation. 

        30.4    No Recourse.    The obligations of the Landlord under this
Lease shall be without recourse to the assets of any partner, member, officer, shareholder, director or employee of Landlord or any partner of any partner of Landlord. The obligations of the Landlord
under this Lease shall be without recourse to the assets of any partner, member, officer, shareholder, director or employee of Landlord or any member of Landlord. In the event of any actual or alleged
failure, breach or default of this Lease by Landlord, Tenant's sole remedy shall be against the Project, its rents, and other assets. Tenant agrees that the foregoing provision shall be applicable to
any covenant or agreement either expressly contained in this Lease or imposed by statute or at common law. 

        30.5    Broker.    Except for the broker specified in
Section 1.16 of this Lease, if any, Landlord and Tenant represent and warrant to each other that it has not retained the services of any other broker or real estate licensee and owes no other
person or entity any finder's or broker's fee, commission or payment of any kind whatsoever. Landlord and Tenant shall defend, indemnify and hold the other harmless from and against any and all
claims, demands, costs, expenses or liabilities related to or connected with any broker's or finder's fee, commission or payment of any kind asserted by any person or entity, based on an agreement
allegedly made by the indemnifying party, except for the broker specified in Section 1.16 of this Lease. 

        30.6    Furnishing of Financial Statements.    Upon Landlord's written
request, Tenant shall promptly furnish Landlord from time to time, but not more than one (1) time per calendar year except in the event of a refinance or possible sale with financial statements
(including, without limitation, operating statements including an annual profit and loss statement for the individual store unit covered by this Lease) reflecting Tenant's current financial condition
and written evidence of ownership of managing 

31

 

and
controlling interest in Tenant and in any entities which directly or indirectly control or manage Tenant. 

        30.7    Trade Names and Trademarks.    Tenant shall not make any use,
commercial or otherwise (except to the extent necessary to identify the Premises), of the names or marks of the Project and/or any other similar names or marks without the prior written consent of
Landlord, nor shall Tenant otherwise engage in conduct inconsistent with Landlord's sole and exclusive rights to its trade names and trademarks, including but not limited to the foregoing marks. 

        30.8    Sign Control.    Tenant shall comply with all signage
requirements as set forth by Landlord and shall further not affix, paint, erect or inscribe any sign, projection, awning, signal or advertisement of any kind to any part of the Premises, Building or
Project, including without limitation, the inside or outside of windows or doors, without the written consent of Landlord. Landlord shall have the right to remove any signs or other matter, installed
without Landlord's permission, without being liable to Tenant by reason of such removal, and to charge the cost of removal to Tenant as additional rent hereunder, payable within ten (10) days
of written demand by Landlord. 

        30.9    Counterparts.    This Lease may be executed in multiple
counterparts, all of which shall constitute one and the same Lease. 

        30.10    Mortgagee Protection.    Tenant agrees to send by certified
or registered mail to any first mortgagee or first deed of trust beneficiary of Landlord whose address has been furnished to Tenant, a copy of any notice of default served by Tenant on Landlord. If
Landlord fails to cure such default within the time provided for in this Lease, such mortgagee or beneficiary shall have an additional thirty (30) days to cure such default; provided that if
such default cannot reasonably be cured within that thirty (30) day period, then such mortgagee or beneficiary shall have such additional time to cure the default as is reasonably necessary
under the circumstances. 

        30.11    Waiver of Jury Trial.    Landlord and Tenant waive any right
to a trial by jury in any action or proceeding based upon, or related to, the subject matter of this Lease. This waiver is knowingly, intentionally, and voluntarily made by Tenant, and Tenant
acknowledges that neither Landlord nor any person acting on behalf of Landlord has made any representations of fact to induce this waiver of trial by jury or in any way to modify or nullify its
effect. Tenant further acknowledges that he has been represented (or has had the opportunity to be represented) in the signing of this Lease and in the
making of this waiver by independent legal counsel, selected of his own free will, and that he has had the opportunity to discuss this waiver with counsel. Tenant further acknowledges that it has read
and understands the meaning and ramifications of this waiver provision. 

        30.12    Independently Provided Services.    This Lease is entirely
separate and distinct from and independent of any and all agreements that Tenant may at any time enter into with any third party for the provision of services, which include, but are not limited to,
telecommunications, office automation, repair, maintenance services, computer and photocopying ("Independent Services"). Tenant acknowledges that Landlord has no obligation of any type concerning the
provision of Independent Services, and agrees that any cessation or interruption of Independent Services or any other act or neglect by the third party providing the Independent Services shall not
constitute a default or constructive eviction by Landlord. Tenant agrees, except to the extent of the gross negligence or willful conduct of Landlord, its partners, employees, agents and/or assigns,
to hold harmless Landlord, its partners, employees, agents and assigns from any claim Tenant may have arising in any way out of the provision (or lack thereof) of the Independent Services which Tenant
has contracted to receive from the third parties. In no event shall Landlord be liable to Tenant for incidental, consequential, indirect or special damages (including lost profits) which may arise in
any way out of a claim concerning Independent Services. 

32

 

        30.13    Act of Landlord.    No act or conduct of Landlord, including,
without limitation, the acceptance of keys to the Premises, shall constitute an acceptance of the surrender of the Premises by Tenant before the expiration of the Term. Only a written notice from
Landlord to Tenant shall constitute acceptance of the surrender of the Premises and accomplish a termination of the Lease. Landlord's consent to or approval of any act by Tenant requiring Landlord's
consent or approval shall not be deemed to waive or render unnecessary Landlord's consent to or approval of any subsequent act by Tenant. 

        IN WITNESS WHEREOF, the parties hereto have executed this Lease or, as the case may be, have caused their officers thereunto duly
authorized to execute this Lease the day and year first above written. 

	AGREED AND ACCEPTED:	 	 	 	 
	

LANDLORD:	
 	

TENANT:
	
WINDMILL DURANGO OFFICE, LLC	
 	

ALLEGIANT AIR, LLC
	

By:	
 	

    
	
 	

By:	
 	

    

	

Its:	
 	

    
	
 	

Its:	
 	

    

33

   EXHIBIT A  

PREMISES/FLOOR PLAN  

TO BE ATTACHED ONCE COUNTY APPROVES FINAL ARCHITECT'S DRAWINGS/PLANS

A-1

   EXHIBIT B  

PROJECT/BUILDING  

	NOTE:
	THE
SITE PLAN SET FORTH HEREIN IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE A WARRANTY, REPRESENTATION OR AGREEMENT ON THE PART OF LANDLORD THAT THE TENANT MIX OR
LAYOUT OF THE PROJECT IS OR WILL REMAIN AS INDICATED HEREON. 

  

B-1

   EXHIBIT C  

MEMORANDUM OF LEASE COMMENCEMENT  

        This Memorandum of Lease Commencement is made as of May 1, 2007 by WINDMILL DURANGO OFFICE, LLC ("Landlord"), and Allegiant Air, LLC ("Tenant"). Landlord
and Tenant agree to and acknowledge the following matters: 

        1.     Landlord
and Tenant have entered into a lease dated as of May 1, 2007, ("Lease"), covering the Premises in the Project located at Durango Commons Office in Las
Vegas, Nevada, as more particularly described in the Lease. 

        2.     All
terms defined in the Lease shall have the same meaning when used in this Memorandum of Lease Commencement. 

        3.     The
Lease Commencement Date is approximately March 1, 2008, and the Expiration Date of the Lease is approximately February 28, 2018. 

        IN
WITNESS WHEREOF, Landlord and Tenant have executed this Memorandum of Lease Commencement as of the day and year first above written. 

	LANDLORD:	 	TENANT:
	

    
 WINDMILL DURANGO OFFICE, LLC	
 	

    
 Allegiant Air, LLC
	

By:	
 	

    
	
 	

By:	
 	

    

	

Its:	
 	

    
	
 	

Its:	
 	

    

C-1

   EXHIBIT D  

LANDLORD'S/TENANT'S WORK  

I.     LANDLORD'S WORK  

        Landlord shall construct a "Turn Key" Premises for Tenant with the following improvements (as described in more detail in Schedule 1 attached hereto) in
accordance with all applicable laws and regulations in effect as of the Delivery of Possession at Landlord's sole cost and expense: 

	•
	Generator Equipment and Enclosure

	•
	Case Work

	•
	Floor Coverings

	•
	Lighting Fixtures

	•
	Wall Coverings (Paint)

	•
	HVAC System w/automated control system (BMS included)

	•
	Trash Enclosure

	•
	Required Elevator Security (this will need to be tied into the Access Control System and programmed as such by the tenant)

	•
	Life Safety Systems (Fire Alarm and Sprinkler Systems per Clark County Building Code)

	•
	Covered Parking Stalls

	•
	Garbage Disposals in each Break Room

II.    TENANT'S WORK  

        Tenant shall construct the following improvements (the "Tenant Improvements") in accordance with the approved plans and all other applicable laws, which shall not
be part of the "Turn Key", thus solely at Tenant's expense: 

	•
	Outdoor Patio equipment (seating, appliance enclosure, appliances)

	•
	Window coverings, where required (black-outs in Board Room)

	•
	Video/audio equipment (Including Plasma TV / Monitors, Non-Wall Mounted Project Screens, Etc.)

	•
	Usual office equipment and furniture (Including Power Poles, Copiers, Etc. as well as connection to such items and equipment)

	•
	External (to systems) Paging Speakers

	•
	Data Cable Installation

	•
	Voice Systems/Components Installation

	•
	R/O System and Installation

	•
	Break Room/Dispatch Appliances (Refrigerators, Microwave Ovens, Coffee Maker, Ice Maker, Freezer, Dishwasher)

	•
	Vending Machines and other such equipment

	•
	Airplane Chairs and other lobby furnishing (excluding the front desk millworking)

D-1

 

	•
	Computer Systems Including Racking (Note 24/A1.04)

	•
	Security System, Cameras, and Monitoring

	•
	Tenant Identification Signage (exterior and interior), code required signage is all that is provided (restroom signage)—all other signage
is by tenant

	•
	Raised Computer Floor Systems or Demountable Partitions (if any)

	•
	Banners in the upper lobby area for display purposes. The construction will cover the mounting brackets, Tenant to provide the banners and associated
copy on the banners.

	•
	Any interior decorating items including artificial plantings at the two rear stair areas

	•
	Access Control Systems Device installation, programming and maintenance will be the responsibility of the tenant for all spaces including Allegiant
Air, Anexeon, and CommPartners. Breslin Builders will be provide conduit and j-box (with pull string) installation only.

	•
	Flags for flag poles (3 total as requested)

	•
	Loose shelving for janitor's room, file rooms, marketing storage, facilities storage, publications library, etc. not shown on the plans
currently

	•
	Specialty systems related to the aircraft communication requirements including aerial antennas

        Tenant
shall install Tenant's trade fixtures, signs and other personal property ("Tenant's Property") in the Premises, all without interfering with any other work being done in the
building or the Project. Tenant's Work, and the installation of Tenant's Property, shall be performed in compliance with all reasonable rules established by Landlord or Landlord's architect or
contractors. Upon final completion of Tenant's Work, Tenant shall furnish Landlord with all certificates, permits and approvals relating to any work or installations done by Tenant that may be
required by any governmental authority or insurance company. Landlord shall have no responsibility for any loss of or damage to any of Tenant's Property so installed or left on the Premises. Tenant's
entry shall be subject to all of the provisions of the Lease, and at all times after such entry, Tenant shall maintain or cause to be maintained in effect insurance complying with the Lease. 

        Under
no circumstances shall Tenant make any alterations or modifications to the exterior of the Premises or the Project, unless such alteration or modification was approved by Landlord
in the approved plans. Tenant shall not make any roof penetrations without the prior written consent of Landlord. Unless otherwise agreed in writing by Landlord, any roof penetrations shall be made by
Landlord's roofing contractor, and the cost thereof shall be reimbursed by Tenant. Any roof penetrations made by Tenant or its contractors shall be inspected and patched by Landlord's roofing
contractor, and Tenant shall reimburse Landlord for the cost thereof. All of Tenant's Work shall be designed by a qualified, licensed architect and shall be performed under the supervision of such
architect by financially sound and bondable contractors of good reputation, in accordance with Tenant's Plans as approved in writing by Landlord prior to commencement of Tenant's Work. All contractors
performing Tenant's Work shall be subject to Landlord's prior approval, which approval shall not be unreasonably withheld conditioned or delayed. Tenant shall not use any contractor not approved in
writing by Landlord. Landlord hereby approves Tenant's use of BRESLIN BUILDERS to perform the Tenant Improvements. Notwithstanding the foregoing, Tenant
and Tenant's Contractor shall nevertheless use Landlord's HVAC subcontractor due to the energy management system at the Project. In connection with giving its consent, Landlord may require that any
contractor, or major subcontractors, provide payment and completion bonds in such amount and with sureties acceptable to Landlord. All work shall be performed in a good and workmanlike manner and
shall be diligently prosecuted to completion, using new materials of good quality. If Tenant elects to use a contractor other than BRESLIN BUILDERS then Tenant shall notify Landlord at least three
(3) business days 

D-2

 

prior
to the commencement of any portion of Tenant's Work and in either case Tenant agrees that Landlord may post, file and/or record a notice of non-responsibility or other notice
required under applicable mechanics' lien laws. Upon completion of Tenant's Work, Tenant shall record in the office of the County Recorder of the County in which the Project is located a notice of
completion or any other notice required or permitted by applicable mechanics' lien laws to commence the running of, or terminate, any period for the filing of liens or claims, and shall deliver to
Landlord any certificate of occupancy or other equivalent evidence of completion of Tenant's Work in accordance with the requirements of applicable law. Tenant's Work shall be performed in compliance
with all applicable laws, codes, rules and regulations of all governmental and quasi-governmental authorities with jurisdiction. All contractors performing any portion of Tenant's Work shall maintain
insurance which meets the requirements of Landlord. 

        Tenant
shall pay all costs and expenses (including permit fees and other governmental fees and exactions) due for, or purporting to be due for, all work, labor, services, materials,
supplies or equipment furnished, or claimed to be furnished, to or for Tenant in connection with the performance of Tenant's Work, and Tenant shall keep the Premises and the Project free of all
mechanics', materialmen's and other liens arising therefrom. Tenant may contest any such lien, but only if Tenant first procures and posts, records and/or files a bond or bonds issued by a financially
sound, qualified corporate surety in conformance with the requirements of Landlord. Tenant shall pay and fully discharge any contested claim or lien within five (5) business days after entry of
final judgment adverse to Tenant in any action to enforce or foreclose such lien. However, notwithstanding any such contest, Landlord shall have the right at any time to pay any lien imposed hereunder
if in Landlord's reasonable judgment such payment is necessary to avoid the forfeiture, involuntary sale or loss of any interest of Landlord or any other tenant or owner in the Project, or any portion
thereof. Tenant shall indemnify, defend, protect and hold Landlord harmless of and from any and all loss, cost, liability, damage, injury or expense (including attorneys' fees) arising out of or in
connection with claims or liens for work, labor, services, materials, supplies or equipment furnished, or claimed to be furnished, to or for Tenant, in, upon or about the Premises or the Project. 

        Tenant's
contractors and subcontractors are required to check in with the Landlord's Property Manager for instructions and coordination prior to going on the site. All Tenant Contractors
are to comply with Project rules and regulations as set forth by Landlord. 

        Tenant's
Contractors will not be permitted to start work until they: 

	•
	Have
all necessary building permits and have posted such permits on the wall in the Tenant's space.

	•
	Furnish
proper evidence of required insurance coverage.

	•
	Sign
for and take possession of keys to service doors of premises (if any) and acknowledge proper installation and operation of said service door.

	•
	Furnish
names and phone numbers (office and home) of contractor's supervisory personnel.

	•
	Have
a set of Landlord approved drawings in the space at all times.

	•
	Acknowledge
receipt of a copy of these Construction Rules.

	•
	Furnish
proper evidence that all fees and/or deposits required to commence work have been fully paid. 

        All
contractors are required to furnish the Landlord's Property Manager with certificates showing evidence of the following insurance coverage prior to commencing any work. 

        The
insurance shall: (i) be issued by insurance companies authorized to do business in the State of Nevada with a current financial rating of at least an A-
Class XV or better as rated in the most recent 

D-3

 

edition
of Best's Key Rating Guide; (ii) be issued as a primary policy; (iii) contain an endorsement requiring thirty (30) days written notice from the insurance company to
Landlord before cancellation or material change and, (iv) shall be written with minimum coverage's and limits as required by law and the following: 

	•
	"All
risk" builders' risk insurance in an amount equal to 100% of the replacement cost of the Improvements on a non-reporting, completed value basis, coverage
against the perils or damage resulting from water damage;

	•
	Owner's
Protective Liability Insurance in an amount of not less than $1,000,000 naming Landlord as a Named Insured;

	•
	Unless
otherwise waived, in writing, by Landlord, a performance bond from Tenant's general contractor in an amount equal to the contract sum or contract amount set forth in
the construction contract between Tenant and its general contractor providing for the construction;

	•
	Independent
Contractors coverage; and

	•
	All
other insurance and is reasonably required by Landlord or as is customarily carried by contractors in the Las Vegas, Nevada area. 

D-4

 

Schedule 1 to Exhibit D  

 Description of "Turn Key" Building Work

to be performed by Landlord

at Landlord's Expense  

TO BE ATTACHED ONCE COUNTY APPROVES FINAL ARCHITECT'S DRAWINGS/PLANS

D-5

   EXHIBIT E  

RENEWAL OPTIONS  

        If, immediately prior to the expiration of the initial term of this Lease, this Lease shall be in force and effect and provided that Tenant, not less than six
(6) months prior to the expiration of such term, shall have given to Landlord written notice of Tenant's desire to renew this Lease, the giving of such notice by Tenant shall be effective to
renew this Lease and extend the term hereof as to the Premises and, without the necessity for execution of any further instrument by either party, for an additional two (2) lease terms of five
(5) years each (the "Renewal Term(s)") from and after the expiration of said initial term. If Tenant exercises such initial renewal option, the Tenant shall have the right to renew for another
five (5) year period by giving notice six (6) months prior to the expiration of the initial Renewal Term. The giving of this second notice shall also be effective to renew the Lease and
further extend the term without the necessity for execution of any further instruments by either party. The Renewal Term(s) shall be on the same covenants, agreements, terms, provisions and conditions
as are contained herein for the initial term except Tenant shall have no further right to extend the term of this Lease after the second Renewal Term. Base Rent for each year during the entirety of
such Renewal Term(s) on the premises shall, however, be at the "Renewal Rate" (as hereinafter defined). 

        The
"Renewal Rate" for purposes of calculating Base Rent payable during such Renewal Term(s) shall be the amount equal to 95% of the then prevailing Fair Market Rent. In no event shall
the total rent during any year of any Renewal Term(s) be less than the total rent paid during the prior preceding year. Landlord and Tenant will negotiate in good faith to agree on such lease rent. 

        Ninety
(90) days preceding the date prescribed for exercise of any option to extend this Lease, Landlord agrees to furnish to Tenant the proposed Renewal Rate for the appropriate
Renewal Term. Tenant's Notice period shall be shortened day for day for each day Landlord fails to provide Tenant its proposed Renewal Rate. Tenant shall approve or disapprove the Renewal Rate within
30 days after Tenant's receipt of Landlord's notice (Approval Period). If Tenant approves the Renewal Rate within the Approval Period (by notice to Landlord), the parties shall execute an
agreement, in form reasonably satisfactory to both, modifying the Expiration Date, the Base Rent, the Monthly Installments of Base Rent and all other relevant matters. If Tenant fails to deliver the
extension notice as required herein or fails to approve the Renewal Rate within the Approval Period (either by notice of disapproval or by failing to give any such notice), then this option shall be
void, Tenant shall have no further option to extend the Term and the Term shall terminate as provided in this Lease; provided, however, if Tenant disapproves the Renewal Rate, Tenant can avoid
termination of this option by giving Landlord notice
(Appraisal Notice) within the Approval Period that Tenant elects to determine the Renewal Rate by appraisal. The appraisal shall be made as follows: 

	(a)
	The
Appraisal Notice must contain the name of the appraiser appointed by Tenant to determine the Renewal Rate. Within 15 days after Landlord receipt of the Appraisal Notice,
Landlord shall give Tenant notice of the name of the appraiser appointed by Landlord to determine the Renewal Rate. The two appraisers so appointed shall promptly appoint a third appraiser; if they
fail to appoint such third appraiser within 15 days after they receive notice of their joint appointment, then either Landlord or Tenant, upon notice to the other, may request the assignment of
a third appraiser by the then President of the local chapter of the American Institute of Real Estate Appraisers. All appraisers shall have at least 10 years experience and be familiar with
commercial office rentals in buildings comparable to the Building in the area in which the Building is located.

	(b)
	The
three (3) appraisers shall jointly establish the Renewal Rate within 30 days after the appointment of the third appraiser and if they cannot agree, the average of
the two (2) closest estimates will be accepted by the parties as the Market Rate, unless the average of all 3 

E-1

 

estimates
equals one of the three (3) estimates, in which case such average estimate shall be accepted by the parties as the Renewal Rate. 

	(c)
	If
Landlord fails to appoint an appraiser within the period permitted above, then the appraiser appointed by Tenant shall have the power to proceed as sole appraiser to establish the
Renewal Rate.

	(d)
	Landlord
and Tenant shall each pay the fees of the appraiser appointed by it and one-half of the fees of the third appraiser and the general expenses of the appraisal
except that Tenant may elect to reject the Renewal Rate, and if Tenant does so reject, then Tenant shall pay the fees of all three appraisers and the general expenses of the appraisal.

	(e)
	After
determination of the Renewal Rate, the parties shall execute an agreement, in form reasonably satisfactory to both, modifying the Expiration Date, the Base Rent, the Monthly
Installments of Base Rent and all other relevant matters." 

        If
at the time Tenant gives notice of its desire to renew this Lease for the Renewal Term(s), Landlord should allege that Tenant is not then entitled to exercise such renewal option by
reason of any default in the performance of Tenant's obligations hereunder existing at such time, then Landlord must, within ten (10) days after receipt by Landlord of notice of Tenant's desire
to renew and extend the term of this Lease, give Tenant written notice specifying the alleged default on the part of Tenant; and Tenant shall thereupon have thirty (30) days from the receipt of
such notice from Landlord (plus such additional reasonable period of time as may be required with respect to those items, which, by their very nature, cannot be cured within such thirty
[30] day period) within which to remedy such alleged default; and if Tenant shall have cured all such defaults within the said respective time periods allowed, then the
previous existence of such default shall not constitute a reason for invalidating Tenant's notice to exercise its renewal option. 

        At
any time after Tenant has exercised its option to extend this Lease for the Renewal Term(s), Landlord and Tenant, upon request of either, will sign and acknowledge a written
memorandum evidencing such facts, setting out the date to which such Renewal Term(s) will extend, and the rental rates which will be applicable during such Renewal Term(s). 

E-2

   EXHIBIT F  

RULES  

	1.
	Tenant
shall not obstruct or interfere with the rights of other tenants of the Building/Project, or in any way injure or annoy such tenants or persons. Tenant will not conduct any
activity, within the Premises, which will create excessive traffic or noise anywhere in the Building/Project.

	2.
	Canvassing,
soliciting and peddling in the Building/Project are prohibited, and Tenant shall cooperate to prevent such activities.

	3.
	Tenant
shall not bring or keep within the Building/Project any animal, motorcycle, or other type of vehicle except as required by law.

	4.
	All
office equipment and any other device of any electrical or mechanical nature shall be placed by Tenant in the Premises in settings approved by Landlord, so as to absorb or prevent
any vibration, noise, or annoyance. Tenant shall not construct, maintain, use or operate within the Premises, or elsewhere in the Building/Project or outside of the Building/Project any equipment or
machinery which produces music, sound or noise, which is audible beyond the Premises. Tenant shall not cause improper noises, vibrations or odors within the Building/Project.

	5.
	Tenant
shall not deposit any trash, refuse, cigarettes, or other substances of any kind within or out of the Building/Project, except in the refuse containers provided therefore. No
material shall be placed in the trash boxes or receptacles if such material is of such nature that it may not be disposed of in the ordinary and customary manner of removing and disposing of office
Building/Project trash and garbage without being in violation of any law or ordinance governing such disposal. Tenant shall be charged the cost of removal for any items left by Tenant that cannot be
so removed. All garbage and refuse disposal shall be made only through entryways and elevators provided for such purposes. Tenant shall not introduce into the Building/Project any substance which
might add an undue burden to the cleaning or maintenance of the Premises or the Building/Project. Tenant shall exercise its best efforts to keep the sidewalks, entrances, passages, courts, lobby
areas, garages or parking areas, elevators, escalators, stairways, vestibules, public corridors and halls in and about the Building/Project (hereinafter referred to as "Common Areas") clean and free
from rubbish. No tenant shall cause any unnecessary labor by reason of such tenant's carelessness or indifference in the preservation of good order and cleanliness. Landlord shall not be responsible
to any tenant for any loss of property on the Premises, however occurring, or for any damage done to the effects of any tenant by the cleaning service or any other employee or any other person.

	6.
	Tenant
shall use the Common Areas only as a means of ingress and egress, and Tenant shall permit no loitering by any persons upon Common Areas or elsewhere within the Building/Project.
The Common Areas and roof of the Building/Project are not for the use of the general public, and Landlord shall in all cases retain the right to control or prevent access thereto by all persons whose
presence, in the judgment of the Landlord, shall be prejudicial to the safety, character, reputation or interests of the Building/Project and its tenants. Tenant shall not enter or install equipment
in the mechanical rooms, air conditioning rooms, electrical closets, janitorial closets, or similar areas or go upon the roof of the Building/Project without the prior written consent of Landlord.
Except as provided in a tenant's Lease, no tenant shall install any radio or television antenna, loudspeaker, or other device on the roof or exterior walls of the Building/Project.

	7.
	Without
limitation upon any of the provisions of the Lease, Tenant shall not mark, paint, drill into, cut, string wires within, or in any way deface any part of the Building/Project,
without the prior written consent of Landlord, and as Landlord may direct. Upon removal of any wall decorations or installments or floor coverings by Tenant, any damage to the walls or floors shall be
repaired by Tenant at Tenant's sole cost and expense. Tenant shall not lay linoleum or similar floor coverings 

F-1

 

so
that the same shall come into direct contact with the floor of the Premises and, if linoleum or other similar floor covering is to be used, an interlining of builder's deadening felt shall be first
affixed to the floor, by a paste or other materials soluble in water. The use of cement or other similar adhesive material is expressly prohibited. Floor distribution boxes for electric and telephone
wires must remain accessible at all times. 

	8.
	Tenant
shall not use the washrooms, restrooms and plumbing fixtures of the Building/Project, and appurtenances thereto, for any other purpose than the purpose for which they were
constructed, and Tenant shall not deposit any sweepings, rubbish, rags or other improper substances therein. Tenant shall not waste water in interfering or tampering with the faucets or otherwise. If
Tenant's servants, employees, agents, contractors, jobbers, licensees, invitees, guests or visitors cause any damage to such washrooms, restrooms, plumbing fixtures or appurtenances, such damage shall
be repaired at Tenant's expense, and Landlord shall not be responsible therefore.

	9.
	Subject
to applicable fire or other safety regulations, all doors opening onto Common Areas and all doors upon the perimeter of the Premises shall be kept closed and, during
non-business hours, locked; except when in use for ingress or egress. If Tenant uses the Premises after regular business hours or on non-business days, Tenant shall lock any
entrance doors to the Building/Project or to the Premises used by Tenant immediately after using such doors. Tenant shall cooperate with energy conservation by limiting use of lights to areas occupied
during non-business hours.

	10.
	Employees
of Landlord shall not receive or carry messages for or to Tenant or any other person, nor contract with nor render free or paid services to Tenant or Tenant's servants,
employees, contractors, jobbers, agents, invitees, licensees, guests or visitors. In the event that any of Landlord's employees perform any such services, such employees shall be deemed to be the
agents of Tenant regardless of whether or how payment is arranged for such services, and Tenant hereby indemnifies and holds Landlord harmless from any and all liability in connection with any such
services and any associated injury or damage to property or injure or death to persons resulting there from.

	11.
	All
keys to the exterior doors of the Premises shall be obtained by Tenant from Landlord, and Tenant shall pay to Landlord a reasonable deposit determined by Landlord from time to
time for such keys. Tenant shall not make duplicate copies of such keys. Tenant shall, upon the termination of its tenancy, provide Landlord with the combinations to all combination locks on safes,
safe cabinets and vaults and deliver to Landlord all keys to the Building/Project, the Premises and all interior doors, cabinets, and other key-controlled mechanisms therein, whether or
not such keys were furnished to Tenant by Landlord. In the event of the loss of any key furnished to Tenant by Landlord, Tenant shall pay to Landlord the cost of replacing the same or of changing the
lock or locks opened by such lost key if Landlord shall deem it necessary to make such a change. The work "key" as used herein shall refer to keys, keycards, and all such means of obtaining access
through restricted access systems.

	12.
	For
purposes hereof, the terms "Landlord", "Tenant", "Building/Project" and "Premises" are defined as those terms in the Lease to which these Rules and Regulations are attached. The
term "Building/Project" shall include the Premises, and any obligations of Tenant hereunder with regard to the Building/Project shall apply with equal force to the Premises and to other parts of the
Building/Project.

	13.
	These
Rules and Regulations are in addition to, and shall not be construed to in any way modify or amend, in whole or in part, the agreements, covenants, conditions and provisions of
any lease of the Premises in the Building/Project. 

F-2

   EXHIBIT G  

GUARANTY  

        NONE 

G-1

   EXHIBIT H  

 SIGNAGE CRITERIA  

GENERAL  

        Signs are not only effective as Tenant identification but are a source of interest, excitement and good advertising when designed with taste and in harmony with
the design standards of the office complex. The sign regulations herein have been set up for the purpose of achieving the best possible effect for office identification and overall design, while
allowing each tenant creativity within the limits of their leasehold. Experience has proven that all Tenants in the building benefit by the establishment of sign controls such as herein set forth. 

I.    APPROVALS    

	A.
	The
design and construction of Tenant's exterior sign MUST receive written approval by Landlord prior to fabrication and installation. 

Landlord's
approval shall be based on: 

	1)
	Conformity
to the sign criteria established for the building, including fabrication and method of installation.

	2)
	Harmony
of the proposed sign with design standards of the building and co-tenants. 

Landlord
has the specific right to refuse approval of any sign, which does not conform to the specific criteria set forth herein. 

	B.
	Unless
Landlord and design consultant have both received the above described plans in the quantities set forth above, Landlord will not approve Tenant's exterior sign. 

The
sign drawings are to be prepared by a reputable Nevada licensed sign contractor. The sign drawings must indicate the following information: 

	1)
	A
scaled storefront drawing reflecting the proposed sign design and all dimensions, as it relates to the storefront elevation of Tenant's premises.

	2)
	A
plot plan and elevation indicating location of Tenant's sign.

	C.
	All
drawings marked "Disapproved" or "Approved as Noted" must be re-submitted as here and above set forth in Paragraph "B" with required corrections. Tenant or it's
sign contractor will not be permitted to commence installation of the exterior sign, unless the following conditions have occurred:

	1)
	A
stamped set of the final sign drawings reflecting Landlord's or Landlord's design consultant's approval are retained at Tenant's Premises at all times during the installation of
design and for a period of thirty (30) days thereafter.

	2)
	Tenant
and/or Tenant's sign contractor shall obtain all necessary permits and approvals. 

II.    GENERAL SIGN CRITERIA AND RESTRICTIONS    

	A.
	All
Tenant signage shall be located only on the space and on the surface specially provided for same on the building exterior. No other signage is permitted on the exterior of the
premises.

	B.
	Tenant
is responsible to field verify that Tenant's proposed signage will fit attractively on Tenant's signband area prior to fabrication of signage.

	C.
	The
face colors and type styles of all signs shall be subject to Landlord's approval.

	D.
	The
Tenant shall pay for all signs, their installation (including final connection, transformers and all other labor and materials) and maintenance. Tenant's sign contractor must file,
pay for and obtain any licenses, permits and variances as required for sign installation. 

H-1

 

ADDENDUM NUMBER 1 TO LEASE AGREEMENT  

        This is an ADDENDUM NUMBER 1 TO LEASE AGREEMENT ("Addendum") dated May 1, 2007 ("Lease") by and between WINDMILL DURANGO OFFICE,LLC (hereinafter known as
"Landlord") and ALLEGIANT AIR, LLC (hereinafter known as "Tenant"). If any provision(s) contained herein is (are) inconsistent with provision(s) contained in the main body or any other Exhibits of
said Lease, then the provision(s) of this Addendum shall control. 

        Options to Expand:    Assuming Tenant is not in default beyond any applicable notice and cure period under the Lease, Landlord
shall grant to Tenant a continuous Right of First Offer on any space that comes available in the Building during the Lease Term at the same terms and conditions of the Lease, including but not limited
to Rent, Landlord's rights and options. In the event any such space becomes available, Landlord shall notify Tenant when the expansion space becomes available. Tenant shall be given two
(2) weeks subsequent to Landlord's notice to commit to the additional space. The expansion
space shall be at the then Fair Market Rent. Fair Market Rent shall be defined as a comparable building(s) within the West Las Vegas submarket. In the event Tenant exercises this option, such space
shall become part of the Premises and shall be subject to all of the same terms and conditions of this Lease, except Base Rent. In the event Tenant elects not to take the space, Landlord may offer
such space to third parties. 

        Landlord
is expecting to build an additional office building of approximately 40,000-50,000 square feet immediately west of the Building that is the subject of this Lease.
Assuming Tenant is not in default beyond any applicable notice and cure period under this Lease, Landlord shall grant to Tenant a Right of First Offer on any space that comes available in that other
building during this Lease Term at the Fair Market Rent. In the event any such space becomes available, Landlord shall notify Tenant when the space becomes available. Tenant shall be given two
(2) weeks subsequent to Landlord's notice to commit to this other space. The space in said other building shall be at the then Fair Market Rent. Fair Market Rent shall be defined as a
comparable building(s) within the West Las Vegas submarket. In the event Tenant elects not to take the space, Landlord may offer such space to third parties. 

        Cancellation Option:    Assuming Tenant is not in default beyond any applicable notice and cure period under the Lease, Tenant
shall have the Option to Terminate, provided that (i) Tenant gives Landlord a written termination notice at least six (6) months prior to the early termination date, and (ii) the
early termination date shall not occur during the first (84) months of the initial lease term. Concurrently with Tenant's written termination notice, Tenant shall reimburse Landlord for all
then unamortized tenant improvements (if any) and broker commissions. 

        Purchase Option:    Assuming the Lease is not terminated and Tenant is not in default beyond any applicable notice and cure
period under the Lease, Tenant shall have the option after the close of the third year of the Lease Term or any renewal of the Lease to purchase the Property that the Premises is located on at a price
based on the fair market value of the Property at a cap rate of at least 6% for a Class A office Building of a similar type in the Las Vegas area ("Purchase Price") as determined solely by
Landlord. It is understood and agreed that this purchase option is nevertheless subject to obtaining all votes and necessary approvals of Landlord's members/affiliates for said
proposed purchase and sale. No rent payments herein shall be credited to the Purchase Price of the Property. 

	2.
	Tenant
may exercise the option to purchase the Property in accordance with the following provisions. Each provision must be satisfied by Tenant as a condition to Tenant's rights under
this option and Landlord's obligation to convey to Tenant any portion of the Property:

	(a)
	Tenant
shall give written notice ("Exercise Notice") of the election to purchase the Property to Landlord. The Exercise Notice shall specify the date on which Tenant desires to close
the purchase ("Closing Date"). The Closing Date shall be not less than 30 days and not more than 180 days after the giving of the Exercise Notice. In the event Tenant gives its Exercise 

H-2

 

Notice
but cannot complete its purchase by the Closing Date, then this option shall automatically terminate, escrow shall be cancelled, and Landlord shall no longer be obligated to sell the Property
to Tenant now or in the future. 

	(b)
	Landlord
and Tenant, using good faith efforts, entering into a mutually agreeable purchase agreement for the sale of the Property (only after Landlord has obtained approval from its
members/affiliates as stated above).

	(c)
	On
or before the Closing Date, Tenant shall pay and deliver to the Title Company (to be chosen by Landlord) in escrow, by cashier's or certified check or wire transfer, the Purchase
Price for the Property.

	(d)
	Tenant
shall be responsible for the preparation of Property conveyance instruments and payment of recording fees.

	3.
	Landlord
makes no representation, express or implied, regarding the Gross Acreage of the Property.

	4.
	Regardless
of references in this Lease to any amounts to be paid to Landlord in cash, Landlord may elect at any time prior to closing to arrange an exchange for other property of like
kind pursuant to 26 U.S.C.A. § 1031 (Internal Revenue Code). Tenant will cooperate in the exchange, but will not be required to incur any additional expense, liability, or delay in
connection with an exchange transaction.

	5.
	Except
as otherwise stated in this Lease, the Property/Building shall be purchased by Tenant "AS IS," and Tenant shall purchase the Property/Building solely on the basis of Tenant's
own investigation and not in reliance on any representations by Landlord or Landlord's agents that are not contained in this Lease. 

        Anti Terrorism Compliance:    Tenant represents and warrants that it is not an entity listed on the U.S. Treasury's Office of
Foreign Assets Control Specially Designated Nationals list (as amended from time to time), that it is not an entity Landlord is prohibited to do business with under anti-terrorism laws,
that it will not violate any anti-terrorism laws, and that it will not do any business with any entity that will violate anti-terrorism laws. 

ALL OTHER TERMS:  

        Except as set forth above, all other terms and conditions, including rent, shall be as set forth in the Lease. 

	AGREED AND ACCEPTED:	 	 	 	 
	

LANDLORD:	
 	

TENANT:
	WINDMILL DURANGO OFFICE, LLC	 	ALLEGIANT AIR, LLC
	

By:	
 	

    
	
 	

By:	
 	

    

	

Title:	
 	

 	
 	

Title:	
 	

 

H-3

QuickLinks

Exhibit 10.22QuickLinks
 -- Click here to rapidly navigate through this document
  

 
 

Exhibit 10.25    
    
    EXECUTION COPY    
    

 
  GROUND LEASE    
    

        This GROUND LEASE (this "Lease") is entered into this 3rd day of November 2006, by and among U.S.
BORAX INC., a Delaware corporation ("Lessor"), CLEAN ENERGY LNG, LLC, a California limited liability company
("Lessee"), and CLEAN ENERGY CONSTRUCTION, a California corporation ("CE Construction"). Lessor, Lessee
and CE CONSTRUCTION are sometimes referred to herein individually as a "Party" and collectively as the
"Parties".

 

 
 

RECITALS    
    

        A.    Lessor
is the owner of certain real property located near the City of Boron in Kern County, California, upon which Lessor, among other things, operates a borate mine and
conducts related refining and shipping activities (the "Borax Site"). Natural gas is supplied to the Borax Site by way of a 2.5-mile natural
gas pipeline owned by Lessor (the "Lateral NG Pipeline"), which interconnects with an interstate natural gas pipeline owned and operated by Mojave
Pipeline Company (the "Mojave Pipeline") near the City of Boron in Kern County. The Borax Site is served by a railroad line owned by BNSF Railway
Company, through a rail spur owned by Lessor.

 

        B.    Clean
Energy Fuels Corp., a Delaware corporation ("Parent"), and its affiliates, including Lessee, are involved in the
business of manufacturing and supplying liquefied natural gas and compressed natural gas for use in vehicles and for other purposes. 

        C.    Lessee
has requested that Lessor lease, and pursuant to the terms and conditions of this Lease, Lessor has agreed to lease, a portion of the Borax Site to Lessee for the
purpose of operating a natural gas liquefaction facility to be constructed by CE Construction. 

        D.    Lessee
has also requested that Lessor provide, and pursuant to the terms and conditions of this Lease, Lessor has agreed to provide, certain services, including the
supply of electricity and process water, to the Premises (as defined below). 

        E.    Parent,
which owns all of the membership interests in Lessee, is willing to guarantee Lessee's obligations to Lessor under this Lease. 

        NOW,
THEREFORE, and in reference to the foregoing recitals (collectively, the "Recitals"), Lessor and Lessee, in consideration of the
various obligations set forth in this Lease, agree as follows: 

 
 

ARTICLE 1.
  DEFINITIONS    
    

        In addition to other definitions of terms set forth elsewhere in this Lease, the following words and phrases shall have the indicated meanings wherever used in
this Lease: 

        1.1   "Access Road" means the main access road to the Premises, which is located, in part, on the Premises as more fully shown
on the Survey. 

        1.2   "Abandonment" means the failure of the LNG Facility to produce a minimum of [***] gallons of LNG
during the first 12 months following the In-Service Date; [***] gallons of LNG during the 12 months following the second anniversary of the
In-Service Date and [***] gallons of LNG during any 12 consecutive month period occurring after the third anniversary of the In-Service Date. 

	[***]
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portions of this document have been redacted and filed separately with the Commission. 

1

 

        1.3   "Affiliate" means, in respect of any Person, any individual, partnership, corporation, trust or other entity or
association, directly or indirectly, through one or more intermediaries, controlling, controlled by, or under common control with, such Person. The term
"control," and its correlative terms, as used in the immediately preceding sentence, means, with respect to a corporation or limited liability company
the right to exercise, directly or indirectly, more than fifty percent (50%) of the outstanding voting rights attributable to the controlled corporation or limited liability company, and, with respect
to any individual, partnership, trust, other entity or association, the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of the
controlled entity. 

        1.4   "Award" means the amount of any award made, compensation paid, or damages ordered as a result of a Taking. 

        1.5   "Bankruptcy Code" means Title 11 of the United States Code, as the same may be amended from time to time. 

        1.6   "Business Day" means any day except a Saturday or a Sunday or a day when commercial banks are authorized or required by
Governmental Authority to be closed in Los Angeles, California. 

        1.7   "Claims" means any and all claims, liens, suits, actions, debts, damages, costs, losses, liabilities, obligations,
judgments, expenses (including, without limitation, court costs, expert and consultant fees, attorneys' fees, including, without limitation, those incurred on appeal), fines and penalties arising from
or relating to, in any way whatsoever, this Lease or the transactions contemplated hereby and the LNG Facility, including, without limitation, any alleged or actual breach of this Lease by and/or
tortious action or inaction of, the Lessor Parties (including, without limitation, any act or omission which is negligent, grossly negligent, reckless or the result of willful misconduct). 

        1.8   "Cogeneration Facility" means the [***] cogeneration facility located on the Borax Site and
owned, operated and maintained by Lessor. 

        1.9   "Commercially Reasonable Efforts" means those efforts which a prudent business Person would exert using sound business
judgment in like circumstances. 

        1.10 "Construction Commencement" means the commencement of substantial site grading of the Premises for the LNG Facility by
CE Construction. 

        1.11 "Contract" means any agreement, contract, obligation, promise or undertaking (whether written or oral and whether
express or implied) that is legally binding. 

        1.12 "Core Service" means any one or more of the following services to be provided by Lessor hereunder:
[***] 

        1.13 "Core Service Default" means (i) a knowing and intentional breach by Lessor of its obligation to provide one or
more Core Services or (ii) the failure of Lessor to use Commercially Reasonable Efforts to resume the delivery of one or more Core Services following a Core Service Disruption, which, in either
case, continues following notice of such breach. A termination by Lessor of any service, including, without limitation, a Core Service, in accordance with Section 12.4 or Section 19.20,
shall not constitute a Core Service Default. 

        1.14 "Core Service Default Claims" means all Claims arising from or relating to one or more Core Service Defaults. 

        1.15 "Core Services Disruption" means a disruption in the supply of a Core Service which Lessor is obligated to remedy
pursuant to this Lease. 

        1.16 "Date of Taking" means the date upon which title to the Premises, an interest therein, or a portion thereof passes to
and vests in the condemnor, or the date damage related to the exercise of the power of condemnation is suffered, or the effective date of any order for possession if that order is issued prior to the
date title vests in the condemnor. 

	[***]
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portions of this document have been redacted and filed separately with the Commission. 

2

 

        1.17 "Demised Land" means the land described and depicted on Exhibit "A". 

        1.18 "Easements" means the non-exclusive easements on, over, across, under and/or through (as applicable) the
Borax Site described on Exhibit "B" for the purposes set forth on said Exhibit "B". The locations of the
Easements are also more fully described on Exhibit "A" and depicted on the Survey. 

        1.19 "Environmental Laws" means all present and future laws, statutes, ordinances, rules, regulations, Orders or Permits of
any Governmental Authority relating to the environment or to any hazardous materials or substances, including, without limitation, the Comprehensive Environmental Response, Compensation, and Liability
Act of 1980 (42 U.S.C. §9601 et seq.), the applicable provisions of the California Health and Safety Code and the California Water Code, the Resource Conservation and Recovery Act of 1976
(42 U.S.C. §6901 et seq.), the Hazardous Materials Transportation Act (49 U.S.C. §1801 et seq.), the Federal Water Pollution Control Act (33 U.S.C. §1251 et seq.),
the Clean Air Act (42 U.S.C. §741 et seq.), the Clean Water Act (33 U.S.C. §7401 et seq.), the Toxic Substances Control Act (15 U.S.C.
§§2601-2629), the Safe Drinking Water Act (42 U.S.C. §§300f-300j), and all amendments to any of the foregoing, as well as all
rules, regulations, orders and decrees now or hereafter promulgated thereunder. 

        1.20 "Exchange Act" means the Securities Exchange Act of 1934, as amended, or any successor law, and the rules and
regulations issued pursuant to that act or any successor law. 

        1.21 "Hazardous Substance" means, at any time, (i) any "hazardous substance" as deemed in §101(14) of the
Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. §9601(14)) or in subdivision (f) of §25281 or §25316 or
§25501(L) of the California Health and Safety Code at such time; (ii) any "hazardous waste," "infectious waste" or "hazardous material" as deemed in §§25117,
25023.2 or 25501(K) of the California Health and Safety Code at such time; (iii) any "waste" as deemed in subdivision (d) of §13050 of the California Water Code;
(iv) any additional substances or materials which at such time are classified or considered to be hazardous or toxic under any Environmental Laws; (v) asbestos and asbestos-containing
materials; and (vi) petroleum and petroleum products, including, without limitation, crude oil or any fraction thereof, natural gas, natural gas liquids, liquefied natural gas, or synthetic gas
usable for fuel, or any mixture thereof. The term "Hazardous Substances" shall include building materials and building components including, without limitation, asbestos contained in or comprising
building materials or building components. 

        1.22 "Governmental Authority" means: (i) any nation, state, county, city, town, village, district or other
jurisdiction of any nature; (ii) any federal, state, local, municipal, foreign or other government; (iii) any governmental or quasi-governmental authority of any nature (including,
without limitation, any governmental agency, branch, department, official or entity and any court or other tribunal); (iv) any multi-national organization or body; or (v) any body
exercising, or entitled to exercise, any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power of any nature. 

        1.23 "Improvements" means all paving, landscaping, utility lines, pipes, fences, walls, buildings, and other structures
located on the Demised Land, whether presently in existence or hereafter erected or placed upon the Demised Land, including, without limitation, all alterations and additions thereto, without regard
to whether ownership thereof is in Lessor or Lessee. The Improvements shall be made by CE Construction and shall include, without limitation, the Lessee Controlled Roadways. 

        1.24 "In-Service Date" means the first day on which the LNG Facility has been constructed and become fully
operational in accordance with this Lease and all Legal Requirements and Permits and LNG is being shipped from the LNG Facility to Lessee's customers. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

3

 

        1.25 "Interconnection Plans" means the detailed plans and specifications for the interconnections between the LNG Facility
and any facilities or improvements owned by Lessor, including, without limitation, the Cogeneration Facility, Lessor's water and fire protection systems, the Lateral NG Pipeline and the Rail Spur. 

        1.26 "Legal Requirements" means any and all now or hereafter existing laws, rules, statutes, ordinances, regulations, Orders
or Permits of any Governmental Authority, including, without limitation, Environmental Laws, in any way applicable to Lessor, Lessee or the Premises, including, without limitation, all of the
foregoing relating to the ownership, division, use, occupancy, possession, operation, maintenance, alteration, repair or reconstruction of the Premises. 

        1.27 "Lessee Controlled Roadways" means those roadways, other than the Access Road, located within the boundaries of the
Demised Land. 

        1.28 "Lessor Controlled Roadways" means the Access Road and all roadways located outside the boundaries of the Demised Land. 

        1.29 "Lessee's Improvements" means all of those Improvements that are constructed by CE Construction and/or Lessee, and owned
by Lessee, including, without limitation, the LNG Facility, as now existing or as hereafter constructed, installed, erected, or placed on the Demised Land or the Easements by CE Construction and/or
Lessee pursuant to any right of Lessee hereunder to so construct, erect, install, or place any Improvement on the Demised Land or any Easement. 

        1.30 "Lessor Parties" means Lessor, its shareholders, directors, officers and employees. 

        1.31 "Lessor's Improvements" means, to the extent not relocated pursuant to Section 8.4 below, the electric power line
and the underground water line owned by Lessor and located on the Premises as shown on the Survey. 

        1.32 "LNG" means liquefied natural gas produced at the LNG Facility. 

        1.33 "LNG Facility" means the LNG Facility described on Exhibit "C". The LNG
Fueling Station, if constructed by CE Construction and/or Lessee, shall be deemed to be a part of the LNG Facility. 

        1.34 "Official Records" means the official records of Kern County, California.

        1.35 "Operational" means, with respect to a Train, that such Train has been constructed in accordance with this Lease and is
otherwise capable of normal operation, except to the extent that such operation is impaired by the failure of Lessor to provide a Core Service in accordance with the provisions of this Lease. 

        1.36 "Order" means any award, decision, injunction, judgment, order, ruling, subpoena or verdict entered, issued, made or
rendered by any court, administrative agency or other Governmental Authority or by any arbitrator against a Person. 

        1.37 "Organizational Documents" means (i) the articles or certificate of incorporation and the bylaws of a
corporation, (ii) the partnership agreement and any statement of partnership of a general partnership, (iii) the limited partnership agreement and the certificate of limited partnership
of a limited partnership, (iv) the certificate of formation and operating agreement of a limited liability company, (v) any charter or similar document adopted or filed in connection
with the creation, formation or organization of a Person, and (vi) any amendment to any of the foregoing. 

        1.38 "Partial Taking" means any Taking of the Premises, one or more Easements and/or any Improvements on the Premises that is
not a Total Taking or a Substantial Taking. 

        1.39 "Permits" means any and all approvals, inspections, entitlements, consents, licenses, permits,
rights-of-way, concessions, grants, franchises, waivers or other authorizations or agreements issued, granted, given or otherwise provided by or under the authority of any
Governmental Authority or pursuant to any applicable Legal Requirement, as the same may be applicable to the Premises. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

4

 

        1.40 "Person" means any individual, corporation (including, without limitation, any non-profit corporation),
general or limited partnership, limited liability company, joint venture, estate, trust, association, organization, labor union or other entity or Governmental Authority. 

        1.41 "Personal Property" means all equipment, inventory, fixtures, and other personal property owned by Lessee or by any
other person or entity holding an interest under Lessee in the Demised Land or any portion thereof and located, from time to time, on or about the Demised Land and not included in the definition of
Improvements set forth above. 

        1.42 "Plans and Specifications" means, collectively, the Interconnection Plans and the Plant Layout Plans, as the same have
been approved by Lessor in accordance with this Lease. 

        1.43 "Plant Layout Plans" means plans and specifications for the LNG Facility showing, among other things, the production
capacity of the LNG Facility and the location on the Demised Land of all improvements associated with the LNG Facility, including, without limitation, the size, land coverage, shape, height, location,
material and elevation of the LNG Facility, all ingress and egress to streets and roads, and all grading and earthmoving required to complete the LNG Facility. 

        1.44 "Premises" means, collectively, the Demised Land and all of Lessee's Improvements. 

        1.45 "Proceeding" means any action, arbitration, audit, hearing, investigation, litigation or suit (whether civil, criminal,
administrative, investigative or informal) commenced, brought, conducted or heard by or before, or otherwise involving, any Governmental Authority or arbitrator. 

        1.46 "Prohibited Person" means any Person: (i) listed in the Annex to, or otherwise subject to the provisions of, the
Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001, and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to
Commit, or Support Terrorism (the "Executive Order"); (ii) that is owned or controlled by, or acting for or on behalf of, any person or entity
that is listed to the Annex to, or is otherwise subject to the provisions of, the Executive Order; or (iii) with whom Lessor or Lessee is prohibited from dealing or otherwise engaging in any
transaction by any terrorism or money laundering law, including the Executive Order. 

        1.47 "Project Agreements" means this Lease and the Parent Guaranty. 

        1.48 "Property Taxes" means and includes all taxes, assessments, and other governmental charges of every kind and nature
whatsoever, whether general or special, ordinary or extraordinary, including, without limitation, assessments for public improvements or benefits and bonds, including, but not limited to
Mello-Roos bonds, issued to finance such improvements or benefits, that have been heretofore or shall be during the term of this Lease (i) assessed, levied, or imposed upon, or
become due and payable and a lien upon, the Premises or any part thereof; or (ii) assessed, levied, or imposed by reason of the use or occupancy or change in ownership of the Premises or any
part thereof; or (iii) assessed, levied, or imposed upon this Lease or Lessee's rental obligations or Lessor's right to receive Rent or other sums under this Lease; or (iv) assessed,
levied, or imposed by reason of Lessor's ownership or interest in all or any part of the Premises, this Lease, or Rent or other sums accruing under this Lease, including, without limitation, a tax or
excise on Rent; or (v) assessed, levied, or imposed in lieu of any of the foregoing taxes, assessments, or other governmental charges; or (vi) assessed by reason of any Improvements made
for or on behalf of Lessee. 

        1.49 "Release" is defined in Section 101(22) of CERCLA. 

	[***]
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portions of this document have been redacted and filed separately with the Commission. 

5

 

        1.50 "Substantial Taking" means the Taking of so much of the Premises, the Easements and/or Improvements on the Premises,
that, in Lessee's reasonable judgment, the conduct of Lessee's operation of the LNG Facility would be substantially prevented or impaired. 

        1.51 "Survey" means the survey of the Demised Premises and portions of the Borax Site attached hereto as  Exhibit "A". 

        1.52 "Taking" means a taking or damaging (including severance damages), by eminent domain, inverse condemnation or otherwise,
by or for any public or quasi-public use under any statute now or hereafter in effect. The transfer of title may be either a transfer resulting from the recording of a final order or judgment of
condemnation or a voluntary transfer or conveyance to the condemning authority under threat of condemnation, in avoidance of an exercise of eminent domain, or while condemnation proceedings are
pending. The Taking shall be considered to take place as of the later of (i) the date actual physical possession is taken by the condemning authority, or (ii) the date upon which the
right to compensation and damages accrues under the law applicable to the Premises and/or any Easement(s). 

        1.53 "Total Taking" means the Taking of the Premises, all of the Easements and/or all of Lessee's Improvements on the
Premises. 

        1.54 "Train" means the production equipment necessary to produce approximately [***] gallons of LNG
in a 24-hour period. 

 
 

ARTICLE 2.
  DEMISING PROVISIONS    
    

        2.1   Demised
Land. Subject to the terms and conditions of this Lease, from and after the Term Commencement Date and for the Term, Lessor hereby
leases the Demised Land to Lessee, and Lessee hereby leases the Demised Land from Lessor, subject to all of the following title and use exceptions (collectively, the
"Encumbrances"): 

        (a)   Easements,
covenants, conditions, restrictions, assessments, bonds, Property Taxes, deeds of trust, and other liens, encumbrances, and other matters affecting title to
the Demised Land or any part thereof, as of the Term Commencement Date, that are disclosed in or by this Lease or the Official Records; 

        (b)   All
Legal Requirements; 

        (c)   Subject
to the provisions of this Lease, and in particular Lessee's Access Rights, the right and power of Lessor, which is hereby reserved by and to Lessor, for the
benefit of the entire Borax Site, to continue to use, maintain, alter and/or replace the Access Road, including, without limitation, those portions of the Access Road located within the Premises which
are depicted on the Survey (the "Reserved Roadway Rights"); 

        (d)   Subject
to the provisions of this Lease, and in particular Lessee's Access Rights, the right and power of Lessor, which is hereby reserved by and to Lessor, to use,
sell, maintain, alter, demolish, and/or replace any and all of Lessor's Improvements located on the Demised Land (the "Reserved Uses"); and 

        (e)   The
right and power of Lessor, which is hereby reserved by and to Lessor, to have access across all or any portion of the Demised Land as expressly set forth herein,
including, without limitation, in Section 4.5 hereof. 

	[***]
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portions of this document have been redacted and filed separately with the Commission. 

6

 

        2.2   Lessee's
Access Rights. Lessor hereby agrees to provide to Lessee, at all times during the Term, reasonable and sufficient ingress to, and
egress from, the Premises to and from public roadways over the Access Road or such other roadways as may be designated by Lessor for such purpose from time to time (the
"Lessee's Access Rights"). Lessee's Access Rights shall be deemed to be an easement appurtenant to Lessee's interests in the Premises that Lessor shall
have no right to terminate during the Term, subject to the following provisions: 

        (a)   Lessee's
Access Rights are non-exclusive and shall be exercised only upon Access Road or such other Lessor Controlled Roadways as may be designated from time
to time by Lessor; 

        (b)   Subject
to the terms and conditions of Lessee's Access Rights as set forth in this Lease, and subject to the rights, if any, to use Lessor Controlled Roadways granted by
Lessor to others from time to time, whether before or after the execution of this Lease, Lessor shall have control over the Lessor Controlled Roadways, including, without limitation, the exclusive
right and power: 

        (i)    To
adopt from time to time and to enforce reasonable rules and regulations respecting use of the Lessor Controlled Roadways by Lessee and others applied on a
non-discriminatory basis; 

        (ii)   To
adopt reasonable security measures designed to prevent or discourage use of the Lessor Controlled Roadways by unauthorized people and to comply with Legal
Requirements, including, without limitation, fencing and locked gates and imposition of background and identity checking and other procedures for all or some persons entering upon the Borax Site or
through the Borax Site to the Demised Land, all of which shall be applied on a non-discriminatory basis; 

        (iii)  To
close or restrict temporarily use of the Lessor Controlled Roadways or any portion thereof as may be necessary in the event of any emergency or to make improvements
to, or to repair, the Lessor Controlled Roadways, or for security or other legitimate purposes (including, without limitation, in the event of labor action by employees of Lessor or any of its
contractors), provided, however, that in any such event, Lessor shall use Commercially Reasonable Efforts to provide Lessee with reasonably suitable alternative means of maintaining Lessee's Access
Rights; 

        (iv)  Provided
that Lessor shall always and continuously during the Term provide reasonable means for Lessee's exercise of Lessee's Access Rights, to close, relocate,
realign, replace, regrade, repave, improve, abandon, or demolish, from time to time, all or any part of the Lessor Controlled Roadways, in which event any new or different roads that Lessor may, in
the future, build upon the Borax Site outside the boundaries of the Demised Land shall be deemed part of the "Lessor Controlled Roadways" as that term
in used in this Lease; 

        (v)   To
offer all or any part of the Roadways or other portions of the Borax Site located outside the boundaries of the Demised Land for dedication to public use or to any
Governmental Authority, and with respect to any such offer, Lessee agrees fully and promptly to cooperate with Lessor and to execute, acknowledge (when needed), and deliver all appropriate instruments
and documents; and 

        (vi)  To
grant easements over, and licenses to use, the Lessor Controlled Roadways or any portion thereof to third parties chosen by Lessor. 

	[***]
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7

 

        (c)   With
respect to any portion of the Lessor Controlled Roadways over which Lessee exercises Lessee's Access Rights, Lessee agrees that, when, if ever, that portion, or
some other area as a substitute or alternative for that portion, becomes a public roadway, whether through acceptance of an offer of dedication made by Lessor or otherwise, then Lessee's Access Rights
shall cease as to that portion or other area, with Lessee relying upon the public nature of that portion or other area to assure access to the Premises. When, if ever, and to the extent that,
dedicated public roadways over any portion of the Borax Site offer reasonable access to the Demised Land, Lessee's Access Rights shall cease and no longer be a part of this Lease. 

        (d)   Lessor
shall maintain the Access Road in substantially the same repair and condition as it is maintained as of the Term Commencement Date. The costs and expenses
incurred by Lessor for repair, maintenance, and improvement of the Access Road shall be shared by Lessor and Lessee as follows: [***] 

provided,
however, that if one Party's use of the Access Road is determined in good faith by Lessor to be contributing to the need for materially greater maintenance and repair of the Access Road (as
compared with Lessor's current use of the Access Road), a greater share of the costs and expenses incurred for repair, maintenance, and improvement of the Access Road may reasonably be allocated to
such Party. If Lessee is determined to be the Party causing such need, Lessee shall pay its share of the costs and expenses incurred by Lessor for such additional repair, maintenance, and improvement
of the Access Road within thirty (30) days of request therefore from Lessor, which request shall be accompanied by a statement setting forth in reasonable detail the nature and amount of such
costs and expenses. 

        (e)   Lessee
shall be solely responsible for the repair, maintenance and improvement of the Lessee Controlled Roadways, and Lessee shall pay all costs and expenses for such
repair, maintenance, and improvement. Lessor shall have no obligation to contribute or reimburse Lessee for any portion of such costs and expenses. 

        2.3   Easements.
Subject to the terms and conditions set forth on Exhibit "B" and the other
provisions of this Lease, Lessor hereby grants to Lessee, from and after the Term Commencement Date and for the Term, the Easements. 

        2.4   Lessor's
Services. 

        (a)   [***]

        (b)   Lessee
acknowledges and agrees that Lessor has made no representation as to the availability from third parties to the LNG Facility of any of the services to be provided
by Lessor pursuant to this Lease in the event that Lessor ceases to provide such services. Without limiting Lessor's obligations as expressly set forth in this Lease or Lessee's rights and remedies
hereunder upon a Lessor Default, including, without limitation, an adjustment in Rent as provided in Section 19.20 and Exhibit "J", Lessee
acknowledges that it shall be solely responsible for procuring such services in the event that they are no longer provided by Lessor. 

        2.5   Term
and Termination. 

        (a)   The
term of this Lease shall commence on the Term Commencement Date and, unless terminated earlier in accordance with the provisions hereof, shall continue until the
date that is thirty (30) years to the date following the In-Service Date (the "Initial Term"); provided, however, that unless either
Lessor or Lessee provides written notice to the other Party on or before the date that is six (6) months prior to the expiration of the Initial Term of such Party's intent to terminate this
Lease at the end of the Initial Term, the term of this Lease shall automatically be extended beyond the initial term for successive periods of three years each (each, an
"Extension Term") unless, not less than six months prior to the end of any Extension Term, Lessor or Lessee delivers written notice to the other Party
hereto of its intent to terminate this Lease, in which case this Lease shall terminate at the end of such Extension Term. The Initial Term, as the same may be extended in accordance with this
Section 2.5(a) or earlier terminated in accordance with the provisions of this Lease, is referred to herein as the "Term." 

	[***]
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portions of this document have been redacted and filed separately with the Commission. 

8

 

        (b)   Provided
that no Default by Lessee has occurred and is continuing at the time such Termination Notice is delivered, Lessee shall have the right to terminate this Lease
at any time after January 1, 2009, upon the delivery to Lessor of written notice (a "Termination Notice") of Lessor's intent to terminate this
Lease. The Termination Notice shall be delivered not less than six (6) months prior to the date upon which Lessee desires such termination to be effective and, provided that no Default has
occurred and is then continuing on such date, this Lease shall terminate on such date. 

        (c)   This
Lease shall be effective upon execution; however, the Term and Lessee's right to occupy the Premises and utilize the Easements pursuant to this Lease shall not
commence until the date (the "Term Commencement Date") on which each of the following conditions has been satisfied (which conditions are for the sole
benefit of Lessor and may be waived by Lessor in writing): 

        (i)    Lessee
shall have executed and delivered each of the Project Agreements, and Parent shall have executed and delivered a guaranty of this Lease in the form of  Exhibit "G" (the "Parent
Guaranty"); 

        (ii)   Lessor
shall have received from Lessee (A) a certificate of the Secretary of Lessee, attesting to the incumbency of the officers executing this Lease and the
other Project Agreements on its behalf, (B) resolutions of the Boards of Directors of Lessee authorizing the execution, delivery and performance of this Lease, certified by the Secretary of
Lessee, and (C) such other evidence of Lessee's authority to enter into and perform this Lease and the Project Agreements as Lessee may reasonably require;1 

	1
	Upon
execution of this Lease, Lessor agrees to deliver to Lessee similar evidence of Lessor's authorization to enter into and perform this Lease. 

        (iii)  Lessor
shall have received from Parent (A) a certificate of the Secretary of Parent, attesting to the incumbency of the officers executing the Parent Guaranty
on its behalf, (B) resolutions of the Boards of Directors of Parent authorizing the execution, delivery and performance of the Parent Guaranty, certified by the Secretary of Parent, and
(C) such other evidence of Parent's authority to enter into and perform the Parent Guaranty as Lessee may reasonably require; 

        (iv)  The
Premises constitutes a legal parcel under applicable Legal Requirements (including, without limitation, the California Subdivision Map Act, Cal. Gov. Code Sections
66410 - 66499.58); 

        (v)   Lessor
shall have received evidence reasonably satisfactory to it that each of the Permits listed in Part A of Exhibit
"H" and any other Permits required for the commencement of construction of the LNG Facility have been obtained by CE Construction upon terms and conditions satisfactory to
Lessor in its sole and absolute discretion to the extent that such Permits would impose any obligations or restrictions on Lessor or the Borax Site (other than the Premises) or, if such obligations or
restrictions would survive the termination of this Lease, and all time periods during which any challenge to or appeal of the issuance of such Permits shall have expired without any such challenge or
appeal having been commenced (or, if commenced, such
challenges or appeals having been finally determined or otherwise resolved on terms and conditions satisfactory to Lessor in its sole and absolute discretion); 

        (vi)  Lessor
shall have approved the Plant Layout Plans and the Interconnection Plans in accordance with Section 8.1 hereof; 

	[***]
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9

 

        (vii) There
shall (A) be no material default or breach on the part of Lessee hereunder or under the other Project Agreements, and (B) have been no change in
the condition (financial or otherwise) of Lessee or Parent which would have a material adverse impact (financial or otherwise) on Lessee's or Parent's ability to perform under this Lease, the other
Project Agreements or the Parent Guaranty, as applicable; 

        (viii) There
shall be no pending Proceeding (A) that has been commenced against the LNG Facility, or (B) that challenges, or that may have the effect of
preventing, delaying, making illegal or otherwise interfering with or materially adversely affecting, the construction and operation of the LNG Facility; 

        (ix)  Lessor
and Lessee shall have executed and delivered a confirmation of the Term Commencement Date in the form of Exhibit
"I", it being agreed that neither Party shall have any obligation to deliver such confirmation until such time as all of the other conditions set forth in this
Section 2.5(c) shall have been satisfied; and 

        (x)   All
other requirements of Governmental Authorities having jurisdiction shall have been satisfied and, without limitation of the foregoing, Lessor shall, after using
Commercially Reasonable Efforts, have obtained all Permits which Lessor is required to obtain under applicable Legal Requirements in order for Lessor to perform its obligations hereunder. In the event
that delays occur in Lessor's obtaining such Permits, and such delays impact the In-Service Deadline, the In-Service Deadline shall be extended accordingly. 

        (d)   In
addition to any other rights that it may have to terminate this Lease, Lessor shall have the right, upon written notice to Lessee, to terminate this Lease in the
event that CE Construction fails to: 

        (i)    cause
Construction Commencement to occur on or before the date that is thirty (30) days following the Term Commencement Date; or 

        (ii)   cause
the In-Service Date to occur on or before the date that is two years following the date that is the earlier of (1) the date on which Lessee has
obtained all of the Permits listed on Exhibit "H" have been obtained by Lessee and (2) December 31, 2007 (the
"In-Service Deadline"). 

        (e)   In
addition to any other rights that it may have to terminate this Lease, Lessee shall have the right, prior to the occurrence of the Term Commencement Date and upon not
less than thirty (30) days' written notice to Lessor, to terminate this Lease and the Guaranty in the event that: 

        (i)    CE
Construction or Lessee shall have been unable to obtain all of the Permits listed on Exhibit "H" upon terms and
conditions reasonably satisfactory to Lessee; 

        (ii)   Lessor
shall have failed to approve the Plant Layout Plans and the Interconnection Plans in accordance with Section 8.1 hereof; or 

        (iii)  a
Proceeding shall have been commenced that challenges, or that may have the effect of preventing, delaying, making illegal or otherwise interfering with or materially
adversely affecting, the construction and operation of the LNG Facility. 

        (f)    Upon
termination of this Lease, the rights and obligations of the Parties hereunder shall terminate, except for those obligations which, by their express terms, survive
the termination of this Lease. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

10

 

        2.6   Quiet
Enjoyment. Provided that Lessee fully performs all the terms of this Lease on Lessee's part to be performed, including, without
limitation, payment by Lessee of all Rent, Lessee shall peaceably and quietly have, hold and enjoy the Premises from and after the Term Commencement Date and during the Term without hindrance,
disturbance or molestation from or by Lessor, or any other Party claiming through Lessor, subject to the Encumbrances. 

 
 

ARTICLE 3.
  RENT    
    

        3.1   Base
Rent. In addition to any and all other amounts payable from Lessee to Lessor pursuant to this Lease, Lessee agrees to pay to Lessor,
and Lessor agrees to accept from Lessee, as rent for the use and occupancy of the Demised Land, during the Term, the amounts described on Exhibit "J"
(the "Base Rent"). 

        3.2   Payment
of Base Rent. The Base Rent shall be paid, in lawful money of the United States of America, at such place or places as Lessor shall
designate from time to time. The Base Rent shall be paid at the times and in accordance with the procedures set forth on Exhibit "J". 

        3.3   Base
Rent Adjustments. The components of Base Rent shall be subject to adjustment from time to time as and to the extent set forth on  Exhibit "J". 

        3.4   Additional
Rent. 

        (a)   Except
as otherwise expressly set forth herein, Lessee agrees to pay, in addition to Base Rent, as additional rent, all other payments, costs, expenses, charges, and
other obligations of every kind whatsoever directly arising from or related to the Premises and the operation thereof, including, without limitation, all services and utilities provided by third
parties, insurance premiums on insurance policies required under this Lease, Property Taxes, as they become due and payable during the Term and all amounts required to be paid by Lessee to Lessor
pursuant to Exhibits "D", "E" and "F" or any other
provision of this Lease (collectively, "Additional Rent"); and 

        (b)   Lessee
shall make all payments required to be made to a third party in order to fulfill an obligation of Lessee set forth in this Lease at whatever time is necessary to
prevent delinquency or penalty for late payment, unless Lessee has duly contested said payments in the manner permitted and prescribed in this Lease. Lessee shall make all payments required by this
Lease to be made to Lessor, including, without limitation, all amounts required to be paid by Lessee to Lessor pursuant to Exhibits "D",  "E" and
"F", to Lessor in the manner and within the time periods set forth in this Lease. 

Base
Rent and Additional Rent are described herein collectively as "Rent." 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

11

  

        3.5   No Offset. This Lease is intended to be net to Lessor, and Lessee shall pay to Lessor, net throughout the Term, the Rent free of any offset,
abatement or other deduction, except as may be expressly set forth herein. Lessor shall not be required to make any payment of any kind with respect to the Premises, except as may be expressly set
forth elsewhere in this Lease. The foregoing shall not be construed as limiting the express provisions of this Lease which shall provide for certain reductions to the Additional Rent in accordance
with the provisions of Exhibit "J" in the event that Lessor ceases to deliver Core Services. 

        3.6   Interest
on Arrearages. Lessee agrees to pay to Lessor interest on any Rent not paid when due and upon all other amounts becoming due to
Lessor under this Lease, whether or not such amounts constitute Rent, as follows: 

        (a)   Said
interest shall accrue from the date the Rent becomes due and continue until the Rent is paid in full; 

        (b)   Said
interest shall become due and payable daily as it accrues, without necessity of demand for payment, and shall be calculated at a rate equal to
[***]; and 

        (c)   Lessor
may apply all payments received under this Lease first to interest accrued, and second to delinquent Rent and other monetary obligations. 

 
 

ARTICLE 4.
  USE OF PREMISES    
    

        4.1   Permitted
Uses. Subject to the provisions of Sections 4.7 and 4.8 and Exhibit "K" hereof,
Lessee shall use the Premises solely for the purposes of constructing (through CE Construction), operating, maintaining, repairing and replacing the LNG Facility and the LNG Fueling Station (as such
term is defined on Exhibit "K") on the Premises, and producing, storing and transporting LNG, and for purposes reasonably related to the foregoing, and
for no other purpose without the prior written consent of Lessor, which consent may be granted or withheld in Lessor's sole and absolute discretion. Storage of equipment related to the conduct of
Lessee's business shall be a permitted use; provided, however, that all storage areas must be screened from public view. 

        4.2   Compliance
with Legal Requirements; Nuisance. 

        (a)   Lessee
shall not use the Premises or the Easements or permit anything to be done in or about the Premises or the Easements that will in any way conflict with any Legal
Requirements or the Permits. 

        (b)   Lessee
shall, at its own cost and expense, promptly and properly observe and comply with all Legal Requirements relating to or arising from the use or occupancy,
condition or maintenance, improvement or operation of the Premises or any part thereof that is from time to time permitted to it under this Lease, and shall do all things required to comply with all
Legal Requirements and to maintain all Permits necessary and appropriate for the operation of the Premises or Lessee's business. Lessee acknowledges that prior to entering into this Lease, Lessee has
had an ample opportunity to review all existing Permits that are part of the public record and to make inquiry with respect to any Permits in possession of Lessor that are not part of the public
record, including Permits held in the name of Lessor and relating to the greater Borax Site and that Lessee has satisfied itself that its construction, use, occupancy, maintenance, improvement and
operation of the Premises will comply with such permits. 

        (c)   The
judgment of any court of competent jurisdiction or the admission of Lessee in any action against Lessee that Lessee has violated any Legal Requirements shall be
conclusive of the fact as between Lessor and Lessee. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

12

 

        (d)   Lessee
agrees not to do or permit anything to be done on or about the Premises and agrees not to bring or keep anything thereon that would create an unsafe condition at
the Premises or the Borax Site, constitute a nuisance or constitute waste to the Premises, provided, that the foregoing shall not be construed as prohibiting Lessee from operating the LNG Facility in
a commercially reasonable manner and in accordance with normal and customary practices in the liquefied natural gas industry. Lessee shall install all necessary and appropriate signage and warning
devices to alert persons to any dangers or hazards present at the LNG Facility. 

        (e)   Lessee
shall implement such measures as are necessary to ensure that the Premises are a drug and alcohol-free environment. 

        (f)    Lessee
agrees not to do or permit anything to be done on or about the Premises which would interfere with the operations of Lessor or Lessor's other tenants, including
Mojave Cogeneration Company. 

        4.3   Hazardous
Substances. 

        (a)   Without
limiting the generality of the foregoing provisions of this Article 4, Lessee's use and occupancy of the Premises and the Easements or any portion thereof
shall at all times be in strict compliance with any and all Legal Requirements relating in any way to the protection of the environment, including, without limitation, Environmental Laws. 

        (b)   In
the event Lessee shall, on, at or about the Borax Site, use, store, or generate or permit or suffer the use, storage, or generation of any Hazardous Substance, then
Lessee, at its sole cost and expense, shall comply with all applicable Environmental Laws. Lessee shall not engage in operations that involve the Release of any Hazardous Substance on or about the
Borax Site. Lessee shall be solely responsible for obtaining, at its own cost and expense, all Permits required under Environmental Laws for its activities under this Lease or on the Borax Site. 

        (c)   In
the event of any Release that occurs in connection with Lessee's activities or the activities of any of its employees, agents, representatives, lessees, sublessees,
licensees, contractors or invitees on the Borax Site, or in the event of any threat of a Release occurring in connection with Lessee's activities or the activities of any of its employees, agents,
representatives, lessees, sublessees, licensees, contractors or invitees on or about the Borax Site, Lessee shall immediately (and in no event later than within twenty-four
(24) hours) notify the Lessor orally and in writing thereof. In the event of such a Release or threat of Release of any Hazardous Substance, Lessee shall take such steps as are required by
Legal Requirements and Lessor to mitigate and remediate such Release. To the extent such steps can lawfully be taken by Lessor, rather than Lessee, Lessee shall defer to Lessor's election, if any, to
assume the lead in taking such steps, provided, however, that Lessor shall have no obligation to Lessee to take such steps. Any election by Lessor to take such steps shall not constitute a waiver or
irreversible election of any rights or remedies. Regardless whether Lessor or Lessee is required to, or does, undertake such action, the provisions of Section 4.3(d) below shall apply. In the
event of any Release affecting the Premises which occurs in connection with Lessor's activities or the activities of any of its employees, agents, representatives, lessees, sublessees, licensees or
contractors on the Premises, or in the event of any threat of a Release occurring in connection with Lessor's activities or the activities of any of its employees, agents, representatives, lessees,
sublessees, licensees, contractors or invitees on or about the Premises, Lessor shall immediately (and in no event later than within twenty-four (24) hours) notify Lessee orally and
in writing thereof. In the event of such a Release or a threat of Release of any Hazardous Substance, Lessor shall take such steps as are required by Legal Requirements to mitigate and remediate such
Release. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

13

 

        (d)   Lessee
shall, at all times, indemnify, defend, protect, and hold harmless the Lessor Parties and any lender of Lessor, including, with respect to Lessor, any mortgage
holder, against and from any and all claims, liens, suits, actions, debts, damages, costs, losses, liabilities, obligations, judgments, and expenses (including, without limitation, court costs, expert
and consultant fees, attorneys' fees, including, without limitation, those incurred on appeal), fines, penalties, and damage to, or loss suffered by the Lessor Parties or the Borax Site or any portion
thereof, of any nature whatsoever, arising from or relating to (i) Lessee's failure to perform the obligations required under this Section 4.3; (ii) a Release of any Hazardous
Substance that occurs in connection with Lessee's activities or the activities of any of its employees, agents, representatives, lessees, sublessees, licensees, contractors or invitees on or about the
Premises or on or about the Borax Site, including, without limitation, the Roadways; or (iii) the threat of a Release of any Hazardous Substance occurring in connection with Lessee's activities
or the activities of any of its employees, agents, representatives, lessees, sublessees, licensees or contractors on or about the Premises or on or about the Borax Site, including, without limitation,
the Roadways. Lessee's obligations under this Lease shall arise whether or not any Governmental Authority or individual has taken or threatened any action in connection with the presence of any
Hazardous Substance. This entire Section 4.3 shall survive termination or the expiration of this Lease. 

        (e)   Lessee
shall provide all relevant information regarding any Hazardous Substances used, stored or generated on the Borax Site, including, without limitation, its Material
Safety Data Sheets (MSDS), to (i) Lessor, and (ii) emergency personnel such as firemen and hazardous materials teams immediately upon the occurrence of a Release, fire, casualty or other
occurrence in, on or about the Borax Site. 

        (f)    Upon
the expiration or termination of this Lease, Lessee agrees to pay, indemnify, defend, protect, and hold harmless the Lessor Parties from and against all costs,
expenses, and liabilities associated with the investigation, reconnaissance, remediation, removal, and disposal of any and all Hazardous Substances from the Premises which are not the result of
Lessor's activities or the activities of any employee, agents, representatives, lessees, licensees, contractors or invitees of Lessor, in order to return the Premises to the condition existing as of
the Term Commencement Date and to save Lessor harmless therefrom. 

        (g)   Nothing
in this Lease shall be deemed to prohibit the use, storage or transportation of natural gas or the production, use, storage or transportation of LNG on or at the
Premises in accordance with the provisions of the Project Agreements and all Legal Requirements. 

        (h)   Notwithstanding
the foregoing, Lessee shall not be responsible for or have any obligations pertaining to any environmental conditions existing on the Demised Land prior
to the Term Commencement Date. 

        4.4   Utilities.
Without limiting Lessor's obligations to provide the services required to be provided by Lessor to Lessee pursuant to the express
provisions of this Lease, Lessee shall be solely responsible for procuring, at its sole cost and expenses, all utilities and services that Lessee uses at or about the Demised Land during the Term,
including, without limitation, all water, natural gas, electricity, telephone, and other utilities and services supplied to the Premises, together with any and all taxes thereon, and for any and all
hook up charges and costs of installation of utility lines and meters (including, without limitation, the costs of bringing such utilities to the Demised Land, if any). 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

14

 

        4.5   Entry
by Lessor; Suspension of Activities. 

        (a)   In
addition to any and all other rights of entry granted or reserved to Lessor by this Lease, including, without limitation, the Reserved Roadway Rights and the Reserved
Uses, Lessee agrees to permit Lessor, its agents, representatives, contractors, and licensees to enter the Premises at all reasonable times upon reasonable advance written notice (with accommodations
as may be necessary to enable Lessee to have a representative accompany Lessor) (i) as reasonably necessary to permit Lessor to perform its obligations hereunder (including the provision of any
services to the Premises contemplated hereunder); (ii) to inspect the Premises for purposes of verifying Lessee's compliance with the provisions of this Lease (including, without limitation,
Lessee's compliance with Section 4.3), including obtaining samples and performing tests of soil, surface water, groundwater or other media, and (iii) and in case of emergency (in which
case Lessor may enter upon the Premises at any time without advance notice). 

        (b)   Without
limiting Lessor's other rights and remedies hereunder, in the event that Lessor determines in good faith that Lessee's (i) failure to comply with the
requirements of this Lease or (ii) operation of the LNG Facility, presents an unsafe condition, upon written request of Lessor, Lessee shall promptly remedy such failure or condition and, if
Lessee fails to remedy such failure or condition within a reasonable time (as determined in good faith by Lessor) following delivery of such written notice, Lessee shall, at the direction of Lessor,
suspend operation of the LNG Facility until such failure or condition is remedied. In the event Lessee fails to suspend operations of the LNG Facility and/or remedy such failure or condition, Lessor
shall have the right, upon thirty (30) days prior written notice to Lessee, or such shorter notice period as may be reasonable due to the circumstances, to enter upon the Premises for the
purpose of remedying such failure or condition. 

        4.6   Additional
Reservations and Restrictions. 

        (a)   Lessee
shall not have any possessory or other right to any oil, gas or other hydrocarbons or minerals and accompanying fluids, including, without limitation, any
geothermal resources, in, on or below the Demised Land or at the Borax Site. 

        (b)   Lessor
reserves all water rights, including, without limitation, any riparian and groundwater rights, associated with the Demised Premises, and Lessee shall not have any
possessory or other right to any surface or groundwater at the Demised Land or at the Borax Site. Without limiting the foregoing, Lessee shall not have any right to access, extract, use or produce
surface or groundwater from the Demised Land or the Borax Site, and Lessee shall not (i) drill any extraction or injection wells; (ii) extract any groundwater or inject any fluids into
any existing wells; or (iii) construct any unlined ponds. The foregoing shall not be construed as prohibiting the installation by Lessee of storm water control systems with Lessor's approval,
in accordance with the Plans and Specifications and all Legal Requirements. 

        4.7   Rail
Spur. Lessee shall have the right to construct the Rail Interconnection and Rail Spur (as such terms are defined on  Exhibit "B") in accordance with Exhibit "B". 

        4.8   On-Site
Fueling Station. Lessee may, subject to the terms and conditions set forth on Exhibit
"K", cause CE Construction to construct an LNG Fueling Station (as such term is defined on Exhibit "K") on the Premises. 

        4.9   Protocol
for Emergencies. Prior to the In-Service Date, Lessor and Lessee shall agree upon a reasonable protocol for handling
emergencies at the Premises and elsewhere on the Borax Site. Lessee shall reasonably cooperate with Lessor in scheduling maintenance and other outages at the LNG Facility to coincide with maintenance
and other outages at the facilities providing Core Services. Without limiting Lessee's obligation under the preceding sentence, prior to the In-Service Date, Lessor and Lessee shall agree
upon a reasonable protocol for such coordination. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

15

 

        4.10 Mine
Safety Regulation. Lessee acknowledges that the Borax Site constitutes mine property subject to the jurisdiction of the Mine Safety
and Health Administration of the United States Department of Labor ("MSHA") and the California Occupational Safety and Health Administration
("CalOSHA"). Lessor makes no representation or warranty as to whether the LNG Facility or any of Lessee's activities with respect thereto will be
subject to regulation by MSHA and/or CalOSHA. To the extent that the LNG Facilities or any of Lessee's activities are subject to regulation by MSHA or CalOSHA, without limiting Lessee's other
obligations hereunder, Lessee shall comply with all rules, regulations, decisions, rulings or directives of MSHA and CalOSHA and shall obtain any all Permits required to be obtained from MSHA and
CalOSHA under applicable Legal Requirements. Lessor will provide reasonable assistance to Lessee in regard to Lessee's efforts to obtain an exemption from MSHA regulation or, if an exemption is not
available, to help Lessee to comply with such regulation, if applicable. Lessee shall reimburse Lessor for all reasonable costs and expenses incurred in providing such assistance. 

 
 

ARTICLE 5.
  PROPERTY TAXES    
    

        5.1   Real
Property Taxes. 

        (a)   Lessee
agrees to pay to Lessor, prior to delinquency, as rent additional to all other Rent reserved in this Lease, all Taxes on Real Property  ("Real Property Taxes") for each fiscal tax year or
portion thereof that is within the Term, prorated between Lessor and Lessee for each fiscal tax year that is not entirely within the Term in the same ratio as the number of days of such fiscal tax
year that are within the Term bears to the number of such days that are outside the Term. Lessor and Lessee shall use its Commercially Reasonable Efforts to cause the LNG Facility and the Premises to
be separately assessed from other property owned by Lessor. In the event the Premises are separately assessed, Lessee shall pay Real Property Taxes thereon directly to the Governmental Authority
collecting the Real Property Taxes. 

        (b)   With
respect to Real Property Taxes that may, under applicable Legal Requirements then in force, be paid in installments, Lessee shall be required to pay hereunder only
such installments, prorated between Lessor and Lessee for partial fiscal tax years as above provided. 

        (c)   In
the event that Lessee fails to pay any Real Property Taxes prior to delinquency, Lessor shall have the right and option, but no obligation, to pay such Real Property
Taxes or any portion thereof before or after the delinquency date and any and all fines, penalties, and interest thereon, and Lessee agrees to reimburse Lessor immediately for the total amount so paid
by Lessor, as Additional Rent. 

        (d)   In
the event that Lessor has paid, before the Term Commencement Date, any Real Property Taxes or installment thereof for a fiscal tax year or portion thereof that is in
part within the Term, Lessee agrees to pay to Lessor, on the Term Commencement Date, Lessee's pro rata portion thereof. 

        5.2   Personal
Property Taxes. 

        (a)   Lessee
agrees to pay, or cause to be paid, directly to the taxing authority or authorities before delinquency, any and all taxes, assessments and other governmental
charges of every kind and nature that are levied or assessed upon Personal Property ("Personal Property
Taxes"). 

        (b)   If
any Personal Property Taxes are assessed, levied, or imposed upon Lessor or upon all or any part of the Premises or of Lessor's interest in the Premises or this
Lease, or if Personal Property Taxes become a lien upon or may be enforced against Lessor or all or any part of the Premises or against Lessor's interest in the Premises or in this Lease, Lessor shall
have the right and option, but no obligation, to pay Personal Property Taxes or any portion thereof before or after the delinquency date, and Lessee agrees to reimburse Lessor immediately therefor,
including, without limitation, any and all late payment penalties or fines and interest paid by Lessor, as Additional Rent. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

16

 

        5.3   Contests.
Nothing herein shall prevent Lessee from contesting, and Lessee may contest and institute all proceedings reasonably necessary to
contest, in good faith, the validity or amount of any Property Taxes, including, without limitation, any applicable or potentially applicable exemptions from Property Taxes, provided Lessee protects
the Premises and the interests of Lessor by payment by Lessee of the Property Taxes under protest prior to delinquency, and provided, further, that Lessee shall indemnify, defend, protect, and hold
harmless Lessor from and against any liability for the payment of said Property Taxes. 

        5.4   Apportionment.
If, at any time during the Term, any portion of the Premises is jointly assessed, for Property Tax purposes, with other real
property that is not a part of the Premises, then Lessor and Lessee, together, shall agree upon a reasonable allocation of the taxes, assessments, or other governmental charges that are assessed,
levied, or imposed thereon, and only the portion thereof reasonably attributable to the Premises shall be deemed Property Taxes payable by Lessee, which allocation may be based upon any and all
records, memoranda, and notes available at the Assessor's Office, calculations of respective square footage, evaluation of respective permanent improvements and uses, and other relevant evidence
available to Lessor and Lessee. 

 
 

ARTICLE 6.
  INDEMNITY AND INSURANCE    
    

        6.1   Lessee's
Indemnity. Except to the extent that liabilities arise from Lessor's or its employees', agents', contractors' or subcontractors'
gross negligence or willful misconduct, Lessee agrees to indemnify, defend, protect and hold harmless the Lessor Parties from and against and hold the Lessor Parties harmless and free from any and all
Claims, including, without limitation, any and all liability for injury to or death of, or damage to or loss of the use of the property of, Lessee or any of Lessee's employees, agents, invitees,
contractors, or licensees. The obligations of Lessee pursuant to this Section 6.1 with respect to Claims arising while this Lease is in effect shall survive the termination of this Lease for a
period of thirty-six (36) months. The obligations of Lessee pursuant to this Section 6.1 are in addition to, and not in limitation or substitution of, Lessee's obligations
under Section 4.3. 

        6.2   Liability
Insurance. 

        (a)   At
all times during the Term, Lessee shall maintain in full force and effect: 

        (i)    Commercial
General Liability (including Broad Form Property Damage, Premises/Operations, Personal Injury, and Contractual Liability coverage applicable to this Lease)
relating to Lessee's construction, ownership, use, operation and maintenance of the Premises with limits of liability of not less than [***] combined single limit per
occurrence and in an annual aggregate for bodily injury and property damage; 

        (ii)   Workers'
Compensation Insurance covering Lessee's employees as required by Law and Employers' Liability Insurance with a limit of [***]; 

        (iii)  Automobile
Liability (covering owned, hired and non-owned vehicles) with limits of liability of not less than [***] combined single
limit for bodily injury and property damage per occurrence; and 

        (iv)  Excess
Liability insurance providing [***] in insurance coverage in excess of the limits of insurance provided in (i) and
(iii) above. 

        (b)   Lessee
shall require any contractors engaged in work at the Premises to maintain insurance coverage of the types and in the amounts at least equal to the insurance
coverage which Lessee is required to maintain in accordance with Section 6.2(a), except that limits of Excess Liability shall not be less than [***]. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

17

 

        (c)   The
policies required to be maintained by Lessee pursuant to Section 6.2(a)(i), Section 6.2(a)(iii) and Section 6.2(a)(iv) above
shall: (i) provide the coverage is primary and that any coverage that Lessor may maintain shall be in excess thereof; (ii) name Lessor as an additional insured; (iii) provide that
the policy cannot be canceled or modified without thirty (30) days' prior written notice to Lessor; and (iv) include a cross-liability or
severability-of-interests endorsement in the event that the basic policy obtained by Lessee does not contain such a provision, which cross-liability or
severability-of-interests endorsement shall apply to all additional insureds, and shall be referenced in the additional insured endorsement. Neither the maintenance nor the
amount of any Commercial General Liability insurance shall be construed to limit in any way Lessee's obligations under any indemnity, defense, or hold harmless agreements set forth in this Lease. Any
self-insured retention respecting said liability insurance shall not exceed [***]. 

        6.3   Casualty
Insurance. Lessee shall maintain at all times during the Term, an All-Risk Property Policy covering Lessee's
Improvements and all Personal Property. Such policy shall be written on an All-Risk basis with fair market value or on an agreed value basis sufficient to insure Lessee's Improvements and
the Personal Property, as well as an amount to insure exposures that are prudent and deemed to be standard operating procedure for a risk of the size and scope as the LNG Facility. Such policy shall
cover any property at the Premises commencing from the date hereof and applying continuously thereafter throughout the Term. The value of all policies based upon the value of the Premises shall be
modified and upgraded, at least annually, to reflect the then-current fair market value or current agreed value of Lessee's Improvements and the Personal Property. 

        6.4   General.
Each insurance policy required by this Lease to be procured and maintained by Lessee shall be issued by a company authorized to do
insurance business in the State of California having a rating in Best's Key Rating Guild of not less than A-IX. Lessee agrees to deliver to Lessor (a) on or before the Term
Commencement Date and from time to time thereafter upon request, a copy of each such policy and all endorsements, or binder therefor, and a certificate certifying that it contains the provisions
required by this Lease, and (b) not later than ten (10) days after renewal of any policies, a renewal binder therefor. 

        6.5   Driver
Certification. Lessee shall ensure that all drivers of LNG transport vehicles are certified by the U.S. Department of Transportation
and all other Legal Requirements. 

 
 

ARTICLE 7.
  OPERATION, MAINTENANCE AND REPAIR OF THE LNG FACILITY    
    

        7.1   Lessor's
Obligations. Except for the work to be performed by the Lessor pursuant to Section 8.11 and Lessor's obligation to maintain
the Access Road as set forth in Section 2.2(d), and as provided in Exhibit "B", Lessor shall not be obligated to make or bear the cost of any
repairs, replacements, rebuilding, or renewals of any kind, nature, or description whatsoever related to the Premises or any portion thereof or Lessee's Improvements. 

        7.2   Lessee's
Obligations. 

        (a)   Except
to the extent that the demolition of Improvements by Lessee is permitted under Article 8, and subject to other provisions of this Lease that govern the
maintenance and repair of utility lines and the Access Road, Lessee shall, at its own cost, and without expense to Lessor, keep and maintain the Premises in good, sanitary and neat order, condition,
and repair, in compliance with all Legal Requirements and Permits, and free from hazards. 

        (b)   Lessee
hereby waives the benefit of any Legal Requirements that would otherwise accord Lessee the right to make repairs at Lessor's expense or to terminate this Lease
because of Lessor's failure to keep the Premises or any portion thereof in good order, condition, or repair. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

18

 

        7.3   Surrender
of the Premises. Upon the expiration or termination of the Term, Lessee shall complete the removal and remediation obligations set
forth on Exhibit "L" (the "Removal and Remediation Obligations"). Further, upon the
expiration or termination of the Term, Lessee shall execute, acknowledge, and deliver to Lessor a quitclaim deed and such other instruments and documents as Lessor shall reasonably request in order to
assure and show in the Official Records Lessor's fee title to the Premises free of any interest or claim of Lessee. Lessee's obligations under this Section 7.3 shall survive the expiration or
termination of this Lease. 

 
 

ARTICLE 8.
  CONSTRUCTION ACTIVITIES AND ALTERATIONS    
    

        8.1   Plans and Specifications. Lessee shall submit to Lessor for its approval a complete set of the Plant Layout Plans and the Interconnection
Plans, respectively. The Plant Layout Plans and the Interconnection Plans shall be consistent in all material respects with the description of the LNG Facility contained on  Exhibit "C". Provided that
the Plant Layout Plans and the Interconnection Plans are in all material respects consistent with said description, the other
provisions of this Lease and all Legal Requirements, Lessor shall not unreasonably withhold its consent to such plans. Lessor shall either approve or disapprove each submittal pursuant to this
Section 8.1 as soon as is reasonably practical after receipt of a complete submittal, but in any event within [***] after receipt thereof (and if such submittal is a
request for an approval of a modification to a previously-approved submittal, within [***] after receipt thereof). Lessor's failure to respond within such
[***] period (or such [***] period, as applicable) shall be deemed as its approval of the submittal (or modification, as applicable). If Lessor
disapproves of the submittal, it shall so notify Lessee in writing within said [***] period, (or [***] period as applicable) and, at the same time,
provide Lessee with a reasonably detailed statement of the reasons why such submittal was disapproved. In such latter event, Lessor and Lessee agree to cooperate reasonably with each other in
resolving any objections of the other to the submittal or requested revisions. Once the Plant Layout Plans and Interconnection Plans have been approved by Lessor, such approval shall be binding on
Lessor (absent a misrepresentation by Lessee) and no further approval by Lessor of such plans or Permits shall be required unless such plans are subsequently modified in any material respect, in which
case such modifications shall be subject to Lessor's approval in accordance with this Section 8.1. Lessor shall not be deemed to have incurred or assumed any obligation or responsibility in
connection with any aspect of the Plant Layout Plans or the Interconnection Plans, and nothing in the Project Agreements, nor any act or failure to act on the part of Lessor, shall be construed as a
warranty or representation as to the adequacy or fitness of the LNG Facility or any aspect thereof or a waiver of a claim by Lessor relating to the LNG Facility. Once the Plant Layout Plans and the
Interconnection Plans have been approved by Lessor, Lessor and Lessee shall enter into an amendment to this Lease which supplements Exhibit "C" with
references to title and date all such approved Plant Layout Plans and Interconnection Plans.

 

        8.2   Construction
of LNG Facility. Lessee shall construct the LNG Facility upon the Demised Land in accordance with the following requirements: 

        (a)   The
LNG Facility and all demolitions, alterations, and additions made in connection therewith or thereto shall be designed and constructed in a good and workmanlike
manner and in accordance with this Lease and the Plans and Specifications; 

        (b)   The
design and construction of the LNG Facility and all such demolitions, alterations, and additions shall comply with all Legal Requirements and Permits, and, without
limiting the generality of the foregoing, Lessee, at Lessee's sole cost and expense, shall procure all necessary Permits as may be necessary or appropriate for the construction of the LNG Facility;
and 

        (c)   Except
for the work to be performed by Lessor pursuant to Section 8.11 hereof, the entire cost of construction of the LNG Facility, including, without limitation,
any off site work, plans and specifications, and all Permits and fees therefor, shall be paid by Lessee. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

19

 

        8.3   Insurance
Covering Lessee's Work. Lessee shall not commence any construction activity, allow the construction or installation of the LNG
Facility, or perform or allow the performance of any other work to or on the Premises, unless prior to the commencement of such work, Lessee shall obtain or cause to be obtained by its contractor (and
during the performance of such work keep or cause to be kept in force) commercial general liability (and/or contractor's liability) insurance, with completed operations coverage, and worker's
compensation insurance to cover every contractor and each employee of every contractor to be employed, in accordance with Section 6.2(b). 

        8.4   Relocation
of Utilities. Lessee shall be responsible, at Lessee's sole cost and expense, for obtaining all agreements and Permits that may
be required to relocate any utility improvement that may be necessary or appropriate in connection with the construction, operation or maintenance of the LNG Facility. Additionally, to the extent such
relocation is necessary to complete the LNG Project in accordance with the Plans and Specifications, Lessee shall be responsible for relocating to a location and in a manner reasonably acceptable to
Lessor, and at Lessee's sole cost and expense, Lessor's Improvements. 

        8.5   Personal
Property. Personal Property may be removed from the Premises by Lessee at any time during the Term and all Personal Property shall
be removed from the Premises by Lessee upon the expiration or termination of the Term. 

        8.6   Liens
and Notices of Violation Prohibited. Lessee shall not permit the Premises or any part thereof to become subject to any lien, charge,
or encumbrance. Lessee shall maintain the Premises and every part thereof free from all orders, notices and violations filed or entered by any Governmental Authority. Nothing in the foregoing
provisions of this Section 8.6 shall limit Lessee's right, and Lessor agrees that Lessee shall have the right, to contest or challenge the validity or amount of any such lien, charge,
encumbrance and any such orders, notices, and violations by appropriate and timely administrative or judicial proceedings; provided that, by first posting a bond, making payment under protest, or
other lawful and effective procedure, the interests of Lessor, any mortgagee of Lessor, Lessor's title to, and any mortgage holder's lien upon, the Premises and every part thereof are protected
against any risk of loss, diminution, or impairment. Notwithstanding the foregoing, Lessee shall be permitted to encumber the LNG Facility and Lessee's interest in this Lease (but not any right, title
or interest of Lessor in and to the Premises) in connection with a bona fide debt financing by Lessee or any Affiliate of Lessee in connection with any future financing by Lessee or by an Affiliate of
Lessee. 

        8.7   Mechanics'
Liens. Lessee agrees: 

        (a)   to
pay for all labor and services performed for, and for all materials used by or furnished to, Lessee or any contractor employed by Lessee with respect to the Premises
or any part thereof, whether or not such labor, services, or materials were related to equipment, fixtures or other works of improvement; 

        (b)   to
indemnify, defend, and protect Lessor and the Premises from and against, and to hold Lessor and the Premises free and harmless from, any and all liabilities, claims,
liens, encumbrances, and judgments created or suffered in connection with such labor, services, or materials; and 

        (c)   to
permit Lessor to post and maintain notices of nonresponsibility on the Premises in accordance with California Civil Code Section 3094 or other similar statute
hereafter enacted; provided that nothing herein shall prevent Lessee from contesting in good faith the validity or amount of any lien, claim, encumbrance, or judgment, in accordance with the
provisions of Section 8.6. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

20

  

        8.8   Lessor's Right to Discharge. Should a judgment on any lien, charge, encumbrance, order, notice or violation be rendered against the
Premises, and should Lessee fail to discharge such judgment or take action to protest such judgment within [***] after such rendering (or within such shorter period as may be
necessary to avoid any enforcement of or realization upon such judgment), Lessor shall have the right, but not the obligation, to discharge said judgment. If Lessor exercises that option, any amount
paid by Lessor shall be due from Lessee as Additional Rent. Such Additional Rent shall be due and payable on the next date after the expense is incurred that Base Rent is due together with interest at
a rate equal to [***]. 

        8.9   Permits. 

        (a)   CE
Construction and/or Lessee shall be solely responsible for obtaining all Permits necessary for the siting, construction, development, operation and maintenance of the
LNG Facility, and CE Construction shall use Commercially Reasonable Efforts to obtain all such Permits as soon as possible. Notwithstanding the foregoing, neither Lessee nor CE Construction shall make
or present any submission, presentation or other substantive written communication to any Governmental Authority in connection with the LNG Facility without first obtaining Lessor's approval of such
submission, presentation or other substantive communication, which approval shall not be unreasonably withheld. Lessor shall be given reasonable advance notice of any meetings (whether held in person
or telephonically) between Lessee and/or CE Construction and any Governmental Authority relating to any Permit, and Lessee, CE Construction and Lessor shall reasonably cooperate in scheduling such
meetings at such times and in such locations as are reasonably convenient for all Parties, so as to enable Lessor, CE Construction and Lessee to each participate in the same. Subject to the foregoing,
Lessor, CE Construction and Lessee shall each make their representative(s) available for all such meetings, either in person or by telephone. In no event shall Lessee or CE Construction allow any
Permit to be binding upon the Premises without Lessor's approval, which shall not be unreasonably withheld to the extent the Permits apply solely to the Premises, the Easements and/or the Exclusion
Zone; provided, however, that if any Permit affects any other part of the Borax Site or would survive the termination of this Lease, Lessor may withhold its approval of such Permit in Lessor's sole
and absolute discretion. 

        (b)   Lessor
agrees to join with CE Construction, at its request, in seeking the Permits and other approvals of Governmental Authorities related to construction of the LNG
Facility which are approved by Lessor in accordance with this Lease. Lessee shall reimburse Lessor for all of Lessor's reasonable out-of-pocket costs incurred in evaluating and
processing such Permits and other approvals of Government Authorities. Lessee agrees to indemnify and hold Lessor harmless from and against any and all liabilities and obligations arising from such
joinder by Lessor with Lessee in connection with such Permits. 

        8.10 Sharing
of Information. Lessee will (a) afford Lessor's representatives reasonable access during normal business hours to the
personnel designated by Lessee who possess information relating to Lessee's permitting, design and construction of the LNG Facility; and (b) furnish Lessor's representatives with copies of all
such plans, specifications, contracts, books and records and other documents and data regarding the permitting, design and construction of the LNG Facility on a confidential basis as Lessor's
representatives may reasonably request from time to time. 

        8.11 Lessor's
Additional Improvements. In connection with construction of the LNG Facility, Lessor shall make certain improvements to the Borax
Site as more fully described on Exhibit "M" ("Lessor's Improvements"). Lessor shall use Commercially
Reasonable Efforts to complete Lessor's Improvements 1 and 2 on or before the date that is [***] following the date that each of the Permits listed in Part A and the air
permits listed in Part B of Exhibit "H" has been obtained by CE Construction. Lessor will undertake Commercially Reasonable Efforts to complete
Lessor's Improvements 3, 4, 5, and 6 on or before the date that is [***] following the date of this Lease. Additionally, Lessor shall cause to be removed prior to Construction
Commencement all personal property of Lessor located on the Premises (other than Lessor's Improvements). 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

21

 

In
the event Lessor's Improvements 1 and 2 are not completed by Lessor on or before the date that is [***] following the date that each of the Permits listed in Part A
of Exhibit "H" has been obtained by CE Construction, the In-Service Date shall be extended by one day for each day of delay beyond the date
that is [***] following the date that each of the Permits listed in Part A and the air permits listed in Part B of Exhibit
"H" has been obtained by CE Construction in completing Lessor's Improvements 1 and 2. 

In
the event Lessor's Improvements 3, 4, 5, and 6 are not completed by Lessor on or before the date that is 180 days following the date of this Lease, the In-Service Date shall be
extended by one day for each day of delay beyond the date that is 180 days following the date of this Lease in completing Lessor's Improvements 3, 4, 5, and 6. 

        8.12 Future
Alterations. Except for routine maintenance, repair and replacement of the LNG Facility, Lessee shall not materially alter or modify
the LNG Facility without first obtaining the prior written consent of Lessor, which consent shall not be unreasonably withheld; provided, however, that in no event shall Lessee increase the production
capacity of the LNG Facility above three Trains, as described in Exhibit "C". Lessee may, however, increase the production capacity of the LNG Facility
to three Trains, as described in Exhibit "C", provided the construction of the Trains is in all material respects consistent with the provisions of this
Lease, the Plant Layout Plans and Interconnection Plans and any modifications thereto approved by Lessor in accordance with Article 8. Except as provided in the preceding sentence, Lessee not
alter or modify the LNG Facility in any manner which would result in an increase in the amount of water, electricity or other services required to be provided by Lessor hereunder (including, without
limitation, any increase in the amount of Return Gas delivered to Lessor) beyond the amounts specified in this Lease and the Exhibits hereto, in either case without first obtaining Lessor's prior
written consent, which may be withheld in Lessor's sole and absolute discretion. 

 
 

ARTICLE 9.
  DESTRUCTION    
    

        9.1   Obligation
to Rebuild. In the event that Lessee's Improvements or any of them are damaged or destroyed in whole or in part by any casualty,
whether or not covered by insurance, Lessee may, in its sole and absolute discretion, elect to rebuild or restore Lessee's Improvements in accordance with the Plans and Specifications and otherwise
subject to compliance with Article 8 (as if the provisions of such Article 8 which apply to the initial construction of Lessee's Improvements were also expressly applicable to such
rebuilding and restoration). In the event Lessee elects not to rebuild or restore such Lessee's Improvements, Lessee shall have the option to terminate this Lease, which option may be exercised only
by the delivery to Lessor, not later than [***] from the date such damage or destruction occurs, of a written notice of termination. Such notice shall specify a date of
termination of this Lease, which date shall not be less than [***] from the date such notice is delivered to Lessor. In the event that Lessee so elects to terminate this Lease,
Lessee shall cause to be completed on or before the end of said [***] all of the Removal and Remediation Obligations, which obligations shall survive the termination of this
Lease; provided, however, that if Lessor elects to have Lessee remove the subsurface Improvements as provided in Exhibit "L", Lessee
shall have an additional [***] in which to complete its Removal and Remediation Obligations. Lessor and Lessee shall have no further obligations to each other after said
effective date of termination respecting the Premises, except those obligations that, by the terms of this Lease or provisions of Legal Requirements, shall survive the termination of this Lease. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

22

 

        9.2   No
Abatement of Rent. Unless this Lease is terminated by Lessee as provided in Section 9.1, there shall be no abatement of Rent by
reason of damage to or destruction of the Premises in whole or in part. In the event Lessee elects to terminate this Lease as provided in Section 9.1, Lessee shall continue to be obligated to
pay Rent and to comply with all of the provisions of this Lease until such time as Lessee has vacated the Premises and paid and performed all of its obligations hereunder which are required to be paid
and performed prior to the expiration or earlier terminate of this Lease. Lessee hereby waives the provision of Section 1932, Subdivision 2, and Section 1933, Subdivision 4, of the
California Civil Code, and all present and future amendments thereto, and all other Legal Requirements that would permit or cause termination of a lease or abatement of rental obligations upon damage
to or destruction of the property subject thereto. 

 
 

ARTICLE 10.
  CONDEMNATION    
    

        10.1 Rights.
Lessor and Lessee agree that, in the event of a Taking, all rights between them and in and to an Award shall be as set forth
herein, and Lessee shall have no right to any Award except as set forth herein. In no event shall any portion of the Award that is attributable to Lessee's leasehold interest in the Demised Land be
paid to Lessee, and Lessee hereby assigns to Lessor the portion, if any, of the Award that is attributable to Lessee's leasehold interest in the Demised Land. Lessee shall be entitled to such portion
of the Award allocable to Lessee's Improvements, and Lessor shall have no right or interest therein or thereto. 

        10.2 Total
Taking. Subject to Section 10.5, in the event of a Total Taking, Lessee's interest in the leasehold created by this Lease
shall continue until the Taking is completed by deed, contract, final order or judgment of condemnation or otherwise, at which time such leasehold shall terminate. Subject to Section 10.4,
Lessee shall continue to be obligated to pay all Rent and shall otherwise be bound by the provisions of this Lease. 

        10.3 Substantial
Taking. In the event of a Substantial Taking, Lessee may, by written notice to Lessor given not later than the earlier of
(a) [***] after receipt by Lessee of notice of any intended Taking or (b) the date upon which such Taking shall be completed, elect to treat the Taking as a Total
Taking. If Lessee does not deliver such notice within such time period, the Taking shall be treated as a Partial Taking. A Substantial Taking shall be treated in the same manner as a Total Taking. 

        10.4 Possession
Following Notice of Taking. Lessee may continue to occupy the Premises and Improvements and use the Easement(s) until the
condemning authority takes physical possession of the Premises, Easement(s) and Improvements. However, at any time following any notice of any intended Total Taking or Substantial Taking, Lessee may
elect to deliver possession of the Premises to Lessor before the actual taking of possession by the condemning authority. Such election shall be made by Lessee by written notice declaring the election
and agreeing to pay all Rent and performing all other obligations required under this Lease through the date of Taking. Lessee's right to apportionment of or compensation from the Award shall accrue
as of the date that Lessee delivers possession to Lessor. 

        10.5 Apportionment
for Award of Total Taking. Upon a Total Taking or upon a Substantial Taking, Lessee shall receive from the Award those
portions of the Award that are attributable to Lessee's ownership interest in the Lessee's Improvements and Personal Property located on or about the Premises and any amounts awarded for:
(a) restoration of the Lessee's Improvements and Personal Property of Lessee on the Premises (and/or Easement(s)); (b) removal, relocation or loss of any Lessee's Improvements or
Personal Property from the Premises (and/or Easement(s)); (c) anticipated or lost profits or damages because of detriment to or interruption of the business of Lessee or any special damages of
Lessee (provided that if no portion of the damages contained in this clause are included in the Award for the Taking, Lessee shall have the absolute right to prosecute Lessee's own claim for damages
as permitted by law and to receive and keep all proceeds of any such claim free from any claim of Lessor); and (d) any severance damage to the Lessee's Improvements and Personal Property of
Lessee on the Premises (and/or Easement(s)). 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

23

 

        10.6 Partial
Taking. This Lease shall remain in full force and effect following a Partial Taking, and shall cover the remaining portion of the
Premises. Lessee shall receive from the Award those portions of the Award that are attributable to Lessee's ownership interest in the Lessee's Improvements, fixtures, equipment and personal property
located on or about the Premises and any amounts awarded for: (a) restoration of the Lessee's Improvements and Personal Property of Lessee on the Premises (and/or Easement(s));
(b) removal, relocation or loss of any Lessee's Improvements or Personal Property from the Premises (and/or Easement(s)); (c) anticipated or lost profits or damages because of detriment
to or interruption of the business of Lessee or any special damages of Lessee (provided that if no portion of the damages contained in this clause are included in the Award for the Taking, Lessee
shall have the absolute right to prosecute Lessee's own claim for damages as permitted by law and to receive and keep all proceeds of any such claim free from any claim of Lessor); and (d) any
severance damage to the Lessee's Improvements and Personal Property of Lessee on the Premises (and/or Easement(s)). 

        10.7 Taking
for Temporary Use. In the event of any Taking of the temporary use of all or any portion of or interest or estate in the Premises,
Easement(s) and/or Lessee's Improvements, for a period ending on or before the expiration or earlier termination of this Lease, neither the Term nor the Rent under this Lease shall be reduced or
affected in any way, and Lessee shall be entitled to the entire Award for the use or estate taken. If any such Taking of the temporary use of all or any portion of or interest or estate in the
Premises, Easement(s) and/or Improvements is for a period extending beyond the expiration or earlier termination of this Lease, such Taking shall be treated under the foregoing provisions of this
Article 10. 

        10.8 Remediation
Obligations. Nothing in this Article 10 shall relieve Lessee of its obligations under Section 7.3 hereof,
provided; however, that in the event of a Taking, Lessee's remediation obligations with regard to the portion of the Demised Land subject to the Taking shall be limited to that required by the
condemning authority. 

        10.9 Sole
and Exclusive Remedies. This Article 10 sets forth Lessee's sole and exclusive remedies in the event of a Taking. Each Party
hereby waives the provisions of Sections 1265.120 and 1265.130 of the California Code of Civil Procedure and the provisions of any successor or other law of like import. 

 
 

ARTICLE 11.
  LESSEE'S DEFAULT    
    

        11.1 Lessee's
Default Defined. For the purposes of this Lease, the terms "Default by Lessee" and
"Lessee's Default" both mean the occurrence of any one or more of the following events: 

        (a)   failure
of Lessee to pay any Rent within [***] after written notice to Lessee following the date such Rent becomes due; 

        (b)   any
assignment, encumbrance, transfer, delegation, subleasing or other occupancy of all or any portion of Lessee's interest in this Lease or all or any portion of the
Demised Land in violation of Article 14; 

        (c)   any
failure by Lessee to maintain the insurance policies and coverages required to be maintained by Lessee pursuant to Article 6; 

        (d)   any
material breach by Lessee of any of its representations and warranties hereunder; 

        (e)   any
failure by Lessee to pay prior to delinquency any Property Taxes; 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

24

 

        (f)    Lessee
shall cease doing business as a going concern, make an assignment for the benefit of creditors, generally not pay its debts as they become due or admit in writing
its inability to pay its debts as they become due, file a petition commencing a voluntary case under any chapter of the Bankruptcy Code, be adjudicated an insolvent, file a petition
seeking for itself any reorganization, composition, readjustment, liquidation, dissolution or similar arrangement under the Bankruptcy Code or any other present or future similar statute, law, rule or
regulation, or file an answer admitting the material allegations of a petition filed against it in any such proceeding, consent to the filing of such a petition or acquiesce in the appointment of a
trustee, receiver, custodian or other similar official for it or of all or any substantial part of its assets or properties, or take any action looking to its dissolution or liquidation; 

        (g)   any
case, proceeding or other action shall be instituted against either Lessee or Parent seeking the entry of an order for relief against Lessee as debtor, to adjudicate
Lessee or any general partner thereof as a bankrupt or insolvent, or seeking reorganization, arrangement, readjustment, liquidation, dissolution or similar relief against either Lessee or Parent
thereof under the Bankruptcy Code or any other present or future similar statute, law, rule or regulation, which case, proceeding or other action either results in such entry, adjudication or issuance
or entry of any other order or judgment having a similar effect, or remains undismissed for a period of [***], or within [***] after the appointment
(without Lessee's or Parent's, as applicable, consent) of any trustee, receiver, custodian or other similar official for it or such general partner, or of all or any substantial part of its assets and
properties, such appointment shall not be vacated; 

        (h)   Abandonment,
which continues for a period of [***] after Lessee's receipt from Lessor of written notice thereof (any such notice being in lieu
of, and not in addition to, any notice required under Section 1161 et seq., of the California Code of Civil Procedure); 

        (i)    execution
by either Lessee or Parent of an assignment for the benefit of creditors of all or substantially all of its assets that are available by law for the
satisfaction of claims of judgment creditors of Lessee or Parent, as applicable; or 

        (j)    breach
by Lessee or CE Construction of any material provision of this Lease, except those mentioned in subparts (a) through (i) of this
Section 11.1, not cured within [***] after Lessor gives Lessee written notice of the breach (any such notice being in lieu of, and not in addition to, any notice
required under Section 1161 et seq., of the California Code of Civil Procedure), or, in the case of breaches which cannot be cured solely by the payment of money and which reasonably require
more than [***] to cure, not cured within a reasonable time after the giving of such notice, provided that Lessee commences curing such breach within said
[***] after the giving of such notice and thereafter diligently prosecutes to completion such cure, provided further that, in all events, Lessee shall have fully cured such
breach within [***] after the giving of such notice. 

        11.2 Lessor's
Right to Terminate. In the event of a Default by Lessee, Lessor shall have, in addition to any other remedies now or later
available to Lessor hereunder or at law or equity, the right to terminate this Lease and Lessee's right to possession of the Premises by giving written notice of termination to Lessee, and Lessee
shall in such event: 

        (a)   pay
to Lessor any accrued and unpaid Rent earned to the date of termination; 

        (b)   pay
to Lessor an amount equal to [***]; and 

        (c)   undertake
and complete within not more than [***] following such termination the Removal and Remediation Obligations. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

25

 

        11.3 Lessor's
Right Not To Terminate. Unless and until Lessor elects to terminate this Lease and Lessee's right to possession as provided in
Section 11.2, this Lease shall continue in full force and effect after Default by Lessee, and Lessor may enforce all of its rights and remedies under this Lease, including, without limitation,
the right to recover or enforce payment of Rent as it becomes due under this Lease. 

        11.4 Cessation
of Services. Upon the occurrence of a Default by Lessee hereunder, in addition to any other remedies now or later available to
Lessor hereunder or at law or equity, Lessor may cease delivery of any of the Core Services without an adjustment in Rent. 

        11.5 General.
Efforts by Lessor to mitigate damages caused by any Default by Lessee shall not constitute a waiver by Lessor of any of Lessor's
rights or remedies under this Lease, and nothing contained in this Lease shall affect any rights of Lessor under this Lease to indemnification arising prior to termination of this Lease. Neither
reasonable acts of repair, alteration, maintenance, reletting, or preservation of the Premises, nor the appointment of a receiver or trustee, whether in bankruptcy proceedings or otherwise, upon
initiative of Lessor to protect Lessor's interests under this Lease, shall constitute an election by Lessor to terminate this Lease or Lessee's right to possession of the Premises. If Lessor permits
this Lease to continue in full force and effect after a Default by Lessee, Lessor may, nevertheless, at any time thereafter elect to terminate this Lease and Lessee's right to possession of the
Premises under the provisions of Section 11.2, for such previous Default by Lessee, provided the Default by Lessee has not then been cured. The rights and remedies of Lessor under this
Article 11 shall be additional to all other rights and remedies provided to Lessor in this Lease or by law or in equity, whether now in force or hereafter enacted, including, without
limitation, injunctions and other equitable relief. In no event shall Lessor assert, or bring any action against any of Lessee's employees, agents, or representatives alleging, personal liability of
any of them for any such breach by Lessee. 

        11.6 Right
of Lessor to Perform. Following not less than [***] written notice (except in cases of emergency, when no
notice shall be required), Lessor may, but shall not be obligated, to make any payment required of Lessee under this Lease that Lessee fails timely to pay. No such payment by Lessor shall constitute a
waiver of, or release Lessee from, Lessee's said obligation or any other obligation of Lessee under this Lease, nor shall such payment by Lessor diminish or affect in any way other rights and remedies
of Lessor set forth elsewhere in this Lease that may be applicable by reason of Lessee's failure to make a payment. 

 
 

ARTICLE 12.
  LESSOR'S DEFAULT    
    

        12.1 Lessor's
Default Defined. For the purposes of this Lease, the terms "Default by Lessor" and
"Lessor's Default" both mean a breach by Lessor of any material provision of this Lease which is not cured within [***] after
Lessee gives Lessor written notice of the breach, or, in the case of breaches which cannot be cured solely by the payment of money and which reasonably require more than [***]
to cure, not cured within a reasonable time after the giving of such notice, provided that Lessor commences curing such breach within said [***] after the giving of such notice
and thereafter diligently prosecutes to completion such cure, provided further that, in all events, Lessor shall have fully cured such breach within [***] after the giving of
such notice. Notwithstanding the foregoing, the [***] cure period referred to above shall not be applicable to a breach by Lessor of its obligation to deliver a Core Service.
The failure of Lessor to deliver a Core Service, caused by circumstances other than a voluntary decision or act by Lessor to cease or reduce a Core Service, shall not constitute a Default by Lessor
provided Lessor uses commercially reasonably efforts to fully restore the Core Service. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

26

 

        12.2 Lessee's
Remedies. Upon the occurrence of a Default by Lessor, Lessee shall have the right to terminate this Lease upon not less than
[***] written notice to Lessor. Such right shall be in addition to any other rights and remedies that Lessee may have under applicable law, subject to the limitations on
Lessor's liability contained herein. 

        12.3 Limitations
on Lessor's Liability. Notwithstanding any other provision of this Lease to the contrary, in no event shall any Lessor Party be
liable to Lessee or its Affiliates (the "Lessee Parties") on account of any Claims, except to the extent expressly set forth in this
section 12.3. 

        (a)   In
no event shall the Lessor Parties have any liability for any indirect, special, consequential (including, without limitation, loss of business opportunity or business
goodwill), punitive, exemplary or other damages. Furthermore, the liability of the Lessor Parties on account of all Claims shall be subject to the following limitations: 

        (i)    [***]

        (ii)   The
aggregate liability of the Lessor Parties' with respect to all Claims arising out of facts or circumstances occurring during the Term other than Core Service
Default Claims shall not exceed [***]. 

        (iii)  [***] 

        (b)   Lessee
agrees not to assert, or bring any action against, any of Lessor's shareholders, officers, directors, employees, agents, or representatives alleging any personal
liability of any of them for any Claims. 

        (c)   Lessee,
on behalf of itself and its successors and assigns, does hereby irrevocably release and forever discharge, and covenant not to sue, the Lessor Parties with
respect to any Claims (whether known or unknown, contingent or fixed, suspected or unsuspected, liquidated or unliquidated, concealed or hidden) to the extent such Claims exceed the limitations set
forth in this Section 12.3. Lessee further agrees, represents and warrants that the matters released herein are not limited to matters which are known or disclosed, and Lessee hereby waives any
and all rights and benefits which it now has, or in the future may have, conferred upon it by virtue of the provisions of Section 1542 of the Civil Code of the State of California which
provides as follows: 

A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE
RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR. 

Lessee
hereby agrees, represents and warrants that it has read and understood this Section 12.3, and Lessee realizes and acknowledges that factual matters now unknown to it may have given or
may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses which are presently unknown, unanticipated and unsuspected, and Lessee further
agrees, represents and warrants that this Section 12.3 has been negotiated and agreed upon in light of that realization and that Lessee nevertheless hereby intends to release, discharge and
acquit the Lessor Parties as set forth hereinabove from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses. 

        (d)   Lessee
acknowledges and agrees that the limitations on the liability of the Lessor Parties set forth in this Section 12.3 are a material inducement to Lessor to
enter into this Lease and that in the absence of such limitations, Lessor would not enter into the transactions contemplated by this Lease. Lessee represents and warrants that it has had advice of
counsel of its own choosing in negotiations for and the preparation of this Lease and the provisions of this Section 12.3 (including the release set forth in Section 12.3(c)). 

        (e)   Nothing
in this Section 12.3 shall be deemed to limit the provisions of Article 16 of this Lease. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

27

 

        12.4 Termination
of Services by Lessor(a) Lessor shall have the right, to be exercised in its sole and absolute discretion subject to and in
accordance with the provisions of this Section 12.4, to terminate its obligation to deliver any of the services required to be delivered by Lessor pursuant to Section 2.4 (including any
of the Core Services). 

        (b)   In
the event that Lessor elects to terminate its obligation to deliver any of the services set forth in Section 2.4(a), Lessor shall provide Lessee with prior
written notice of such election (an "Election Notice"). Each Election Notice shall specify a date (the "Termination
Date") upon which the applicable service(s) shall be terminated, which Termination Date shall not be less than [***] from the date of the Election
Notice. In the case of Process Water, Lessor may terminate this service upon not less than [***] from the date of the Election Notice, if Lessee is permitted to use the
Alternate Process Water Line interconnected with the AVEK Water Line. If Lessor does not allow Lessee to interconnect the Alternate Process Water Line with the AVEK Water Line in order to obtain its
full quantity of Process Water as provided in Exhibit "E-2", Lessor will provide [***] prior written notice to
Lessee of its election to cease providing Process Water to Lessee. If Lessor permits Lessee to interconnect the Alternate Process Water Line with the AVEK Water Line, Lessor and Lessee will arrange
for reasonable mutually acceptable metering of and invoicing for the water consumed by Lessee from the AVEK Water Line. The cost of all water from the AVEK Water Line consumed by Lessee shall be paid
by Lessee. Termination of a service provided to Lessee in accordance with this Section 12.4(b) will not constitute a Default by Lessor. 

        (c)   During
the period following the delivery of an Election Notice and prior to the Termination Date set for the service(s) covered thereby, Lessor shall use Commercially
Reasonable Efforts to assist Lessee, at no material out-of-pocket expense to Lessee, in obtaining an alternative source of the service(s) to be discontinued, including
supporting the obtaining of Permits and the procurement of access and Easements necessary to effect the changeover to the new source. 

        (d)   Upon
the Termination Date set forth in the Election Notice, (i) Lessor's obligation to deliver the service(s) described therein shall terminate and Lessor shall
have no further obligation to deliver such service(s), and (ii) the Rent shall be reduced in accordance with Exhibit "J". 

        (e)   The
provisions of this Section 12.4 shall not apply to an election by Lessor to terminate its obligation to deliver Energy, which election shall be governed by
the provisions of Section 8 of Exhibit "D" or to termination of services pursuant to Section 19.20. 

        (f)    Notwithstanding
any other provision of this Lease, except as expressly set forth in Exhibit "D" with respect to Lessee's
right to procure Energy from Southern California Edison Company or its successor utility, in no event shall Lessee have the right to procure any of the services to be provided by Lessor to Lessee
hereunder, including the services described in Section 2.4, unless Lessor terminates its right to provide such services in accordance with this Section 12.4 or fails to provide such
services in default of its obligations to do so hereunder. 

        (g)   Notwithstanding
the foregoing, Lessor shall not be obligated to accept (i) Return Gas or (ii) Process Waste Water from Lessee if Lessee is failing to meet
the respective quality standards with respect thereto set forth in Exhibits "F-2" and  "E-2", respectively. 

        (h)   In
the event of a temporary cessation or termination of the provision of a Core Service by Lessor to Lessee, for any reason other than a failure by Lessee to deliver
Return Gas or Process Waste Water meeting the standards set forth in Exhibits "F-2" and  "E-2", respectively, or other Default by Lessee, there shall be a
corresponding adjustment to Long-Term Variable Rent as and to
the extent provided in Exhibit "J". 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

28

 
 
 

ARTICLE 13.
  ESTOPPEL CERTIFICATES AND SALE BY LESSOR    
    

        13.1 Estoppel
Certificates, etc. Each Party agrees to execute and deliver to the other Party (and its lender, if applicable), within
[***] following request, an estoppel certificate and such other instruments and documents as the requesting Party may reasonably request evidencing the status of this Lease.
Such estoppel certificate shall include, among other things, (i) a certification that this Lease is unmodified and in full force and effect, or, if modified, stating the nature of such
modification and certifying that this Lease, as so modified, is in full force and effect, and certifying the date to which the Rent and any other charges are paid in advance, if any, and
(ii) acknowledging that there are not, to the responding Party's knowledge, any uncured defaults on the part of either Party hereunder, or specifying such defaults if they are claimed. Such
estoppel certificate shall permit reliance thereon by any auditor, creditor, commercial banker, and investment banker of the responding Party and, in the case of an estoppel certificate delivered by
Lessee, by any prospective purchaser or encumbrancer of all or any part of the Borax Site or of all or any part of Lessor's interests under this Lease. 

        13.2 Failure
to Deliver Estoppel Certificates. If either Party shall fail to execute and deliver, within the time required by
Section 13.1, any such estoppel certificate, then, in addition to constituting a default by such Party hereunder: 

        (a)   Such
failure shall constitute acknowledgment by the Party failing to deliver the estoppel to any third party, such as, but not limited to, a person or entity purchasing
assets or lending money, that this Lease is unmodified and in full force and effect (except as may be represented by the Party requesting the estoppel) and that all Rent has been duly and fully paid
to and including the respective due dates immediately preceding the date of the notice of request (except as may be represented by the Party requesting the estoppel) and shall constitute a waiver,
with respect to all such third persons, of any defaults that may exist before the date of the notice and shall be a default under this Lease; and 

        (b)   The
Party failing to deliver the estoppel shall be estopped to assert or claim anything respecting the status of this Lease that is contrary to the representations made
by the Party requesting the estoppel, and such third person may rely upon such estoppel. 

        13.3 Liability
Upon Transfer. 

        (a)   In
the event that Lessor shall sell or otherwise transfer its title to the Premises, after the effective date of such sale or transfer, and upon assumption of all of
Lessor's obligations hereunder by the buyer or transferee of the Premises, whether expressly or by operation of law, Lessor shall have no further liability under this Lease to Lessee, except as to
matters of liability which have accrued before, and are unsatisfied as of, the date of sale or transfer, and Lessee shall thereafter seek performance solely from Lessor's successor. 

        (b)   In
the event that Lessee shall assign its interest in this Lease in accordance with the provisions of Article 14, after the effective date of such assignment, and
upon assumption of all of Lessee's obligations hereunder, whether expressly or by operation of law, Lessee shall have no further liability under this Lease to Lessor, and in the event of a Transfer
described in Sections 14.2(a) or (b), the Parents' Guaranty shall terminate, except as to matters of liability which have accrued before, and are unsatisfied as of, the date of Transfer, and Lessor
shall thereafter seek performance solely from Lessee's successor. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

29

 
 
 

ARTICLE 14.
  ASSIGNMENT AND SUBLETTING    
    

        14.1 Generally
Forbidden. Except as permitted under Section 14.2, Lessee shall not sell, assign, delegate, encumber, or otherwise
transfer this Lease or any of Lessee's rights or obligations hereunder, nor shall Lessee sublet or permit or suffer any Person (other than Lessor) to occupy or use all or any portion of the Premises
(any such action, a "Transfer"), and any attempt to effect a Transfer shall be null and void, shall constitute a Default by Lessee, and, at Lessor's
option, shall terminate this Lease. The foregoing prohibition against Transfers shall apply fully to an assignment by operation of law. Sales, assignments, encumbrances or other transfers, whether in
one transaction or a series of transactions, of a controlling equity interest in Lessee shall constitute an attempted Transfer of this Lease and shall be prohibited by this Section 14.1;
provided, however, that a transfer of equity interests in Lessee from a Person who holds such interests as of the date of this Lease to another wholly-owned subsidiary of Parent shall not constitute a
Transfer for purposes of this Section 14.1 so long as Lessee provides notice of such transfer to Lessor within thirty (30) days following the effectiveness of such Transfer. 

        14.2 Permitted
Transactions. Notwithstanding the provisions of Section 14.1, with the prior written consent of Lessor, which consent
shall not be unreasonably withheld, Lessee shall have the right and power to assign its interests under this Lease (a) to any Person that is concurrently acquiring substantially all of the
business assets of Parent, including Parent's ownership interest in Lessee, whether structured as a "assets" sale or a sale of equity interests in Parent; (b) to a Person that acquires the LNG
Facility from Lessee; and (c) to any business entity that controls, is controlled by, or is under common control with Lessee. 

        14.3 Transfer
Procedures. If Lessee desires to Transfer this Lease (other than to secure a debt financing to the extent permitted in
Section 8.6) or any interest herein, then at least thirty (30) days (but no more than one hundred eighty (180) days) prior to the effective date of the proposed Transfer, Lessee
shall submit to Lessor a written request (a "Transfer Notice") for Lessor's consent, which notice shall include: 

        (a)   A
statement containing (i) the name and address of the proposed transferee (the "Transferee"); (ii) current
financial statements of the proposed Transferee certified by an officer, partner or owner thereof, and any other reasonable information and materials (including without limitation, credit reports and
bank and character references) required by Lessor to assist Lessor in reviewing the financial responsibility, character, and reputation of the proposed Transferee (provided, that if Lessor requests
such additional information or materials, the Transfer Notice shall not be deemed to have been received until Lessor receives such additional materials); (iii) the nature of such Transferee's
business; (iv) the proposed effective date of the Transfer; and (v) all of the principal terms of the proposed Transfer, including the consideration to be paid to Lessee in connection
therewith. At the request of the proposed Transferee, Lessor will sign a reasonable and customary form of confidentiality
agreement covering the information provided to Lessor. Without limitation as to other reasonable grounds for withholding consent, it shall be reasonable under this Lease and under any applicable law
for Lessor to withhold consent to any proposed Transfer where one or more of the following apply: (1) the Transferee intends to use the Premises other than for operation of the LNG Facility in
accordance with this Lease; (2) the Transferee is a governmental agency or instrumentality thereof; (3) the Transferee is not a party of reasonable financial worth and/or financial
stability in light of the obligations of the Lessee under this Lease; and (4) the Transferee is a Person who is, or in the thirty-six months prior to the Transfer Notice has been,
adverse to Lessor in any arbitration, litigation, mediation or other similar proceeding. 

        (b)   After
Lessor's consent to the Transfer and promptly after execution, Lessee shall deliver to Lessor four (4) originals of the proposed assignment or sublease or
other evidence of the Transfer on a form approved by Lessor and four (4) originals of the of Lessor's consent to such Transfer executed by Lessee and the proposed Transferee. 

        (c)   If
Lessee modifies any of the terms and conditions relevant to a proposed Transfer specified in the Transfer Notice such that Lessor would be entitled to withhold its
consent to such Transfer under Article 14, Lessee shall re-submit such Transfer Notice to Lessor for its consent pursuant to all of the terms and conditions of this
Article 14. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

30

 

        (d)   With
respect to each Transfer proposed to be consummated by Lessee, whether or not Lessor shall grant consent, Lessee shall pay all of Lessor's
out-of-pocket expenses, fees, and costs, as well as any professional, attorneys', accountants', engineers' or other consultants' fees reasonably incurred by Lessor relating to
such proposed Transfer within thirty (30) days after written request by Lessor. 

        14.4 Prohibited
Persons. Notwithstanding any other provision of this Lease to the contrary, in no event shall Lessee effect a Transfer of any
portion of its interest in this Lease or the Premises to a Prohibited Person. 

        14.5 Miscellaneous
Provisions. Without limiting the foregoing provisions of this Article 14, the acceptance of Rent by Lessor from any
other person shall not be deemed to be a waiver of Lessor of any provision of this Article 14. 

 
 

ARTICLE 15.
  RIGHT OF FIRST REFUSAL    
    

        15.1 ROFR
Notice. Without limiting the provisions of Article 14, in the event that Lessee seeks to Transfer all or a majority of its
interest in the LNG Facility, whether such Transfer is structured as an asset sale or a sale of a controlling equity interest in Lessee (whether such sale occurs in a single sale or in a series of
Transfers), Lessee shall include with the Transfer Notice delivered in accordance with Article 14 a written right of first refusal notice (a "ROFR
Notice"). Each ROFR Notice shall set forth the proposed Transferee's name and shall include a summary of the terms of the proposed Transfer, including without limitation, the
purchase price and method of payment, and shall have attached to it a copy of any offer or counteroffer executed or to be executed by Lessee and the Transferee. If the proposed Transfer is to be made
in exchange for property of the Transferee, the ROFR Notice shall also include the dollar value placed on the Transferee's property by Lessee. Lessee represents and warrants that the purchase price,
terms and conditions referred to in the ROFR Notice shall have been arrived at through arm's length negotiations. 

        15.2 Response
to ROFR Notice. If Lessor, within [***] after receipt of a ROFR Notice, indicates in writing to Lessee its
agreement to purchase the LNG Facility to be Transferred on the terms stated in such ROFR Notice, Lessee shall sell and convey such property to Lessor on the same terms and conditions as set forth in
such ROFR Notice, except that in the event of a proposed exchange of property Lessor shall pay the aforesaid dollar value placed on the property in full in cash rather than exchange property. If
Lessor does not notify Lessee of its intent to exercise its right of first refusal within such [***] period, or if Lessor gives Lessee written notification that it does not
elect to exercise such right of first refusal, then Lessee may Transfer the LNG Facility free of this right of first refusal on the same terms and conditions offered to Lessor as set forth in the ROFR
Notice, subject to the provisions of Section 14.3 hereof. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

31

  

        15.3 Timing of Transfer; Change of Terms. If Lessee does not complete the Transfer of the LNG Facility described within the ROFR Notice within
[***] of (i) the expiration of the aforementioned [***] period or (ii) such earlier date on which Lessor notifies Lessee that it does not
wish to exercise its right of first refusal, or if Lessee intends to Transfer the LNG Facility on terms and conditions which are changed or modified from those stated in the ROFR Notice, then the
transaction or any further transaction shall be deemed a new determination by Lessee to Transfer the LNG Facility and the provisions of this Article 15 shall again be applicable to any proposed
Transfer. 

        15.4 Termination
of Right. Lessor's right of first refusal as provided herein shall be extinguished if and only if Lessor fails to exercise its
right to purchase the LNG Facility within the [***] period provided above and Lessee thereafter Transfers the LNG Facility to the Transferee and on the terms set forth in the
ROFR Notice within the [***] period provided above, and provided the offer from the Transferee presented to Lessor in the ROFR Notice was a valid, bona fide and binding third
party offer. Failure by Lessor to respond to any other offer shall in no way extinguish the right granted to Lessor hereunder which shall in such case continue to burden the LNG Facility. 

        15.5 Valuation.
In the event Lessee elects to exchange its interest in the LNG Facility rather than to sell it, if Lessor objects to the dollar
value placed by Lessee on the exchange property as stated in the ROFR Notice, Lessor shall notify Lessee of its objection and the dollar value shall be the first market value of such property as
established by an appraiser appointed by Lessor, who shall be a member of the American Institute of Real Estate Appraisers. The [***] period provided in Section 15.2 for
Lessor to deliver notice of exercise of its right to purchase the LNG Facility shall be extended for so long as it takes to complete such appraisal. All costs and expenses incurred by the appraiser
shall be shared equally by Lessee and Lessor. 

        15.6 Transfer
Defined. As used in this Article 15, the term "Transfer" shall be defined
to mean any transfer, sale, lease, or other conveyance, whether by agreement for sale or in any other manner. 

        15.7 Right
of First Refusal Exercised. Within [***] of Lessee's receipt of Lessor's notice of exercise, an escrow shall
be opened at an escrow company selected by Lessor, which escrow shall have a time limit of [***]. Lessee shall transfer its interest in the LNG Facility through said escrow to
Lessor or Lessor's nominee subject only to real property taxes for the then-current fiscal year and customary permitted encumbrances, including, without limitation, all encumbrances of
record, and all other encumbrances and defects in title and conditions which the proposed Transferee was willing to accept. Lessee and Lessor, or Lessor's nominee, shall each pay
[***]; Lessee shall pay for any documentary tax stamps; and Lessor or its nominee shall pay the recording fee for any instruments which are recorded through such escrow. 

        15.8 No
Waiver of Assignment Restrictions. Nothing in this Article 15 shall be construed as limiting or waiving the provisions of
Article 14 hereof. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

32

 
 
 

ARTICLE 16.
  FORCE MAJEURE    
    

        16.1 Effect
of Force Majeure Events. Except as otherwise provided herein, either Party shall be excused from performance and shall not be
construed to be in default in respect of any obligation hereunder for so long as failure to perform such obligation shall be caused by or arise out of a Force Majeure Event.
"Force Majeure Event" means any event or occurrence beyond the reasonable control of a Party which causes such Party to be unable to perform its
obligations hereunder (other than obligations to pay money), but only if and to the extent that (i) such circumstance or event or combination of events or circumstances, despite the exercise of
reasonable diligence and care, cannot be or be caused to be prevented, avoided or removed by such Party; (ii) such circumstance or event is not the result of the failure of such Party to
perform any of its obligations under this Lease; and (iii) such Party has given the other Party prompt notice of such circumstance or event in accordance with Section 16.3. Such events
or occurrences may include, but are not limited to: explosions, fires, earthquakes, storms, lightning, wind, tornadoes, or other natural calamities and acts of God; acts of war or the public enemy and
acts of terrorism, whether war be declared or not; public disorders, insurrection, rebellion, sabotage, riots or violent demonstrations; strikes, lockouts or other industrial action by workers or
employees of a Party or such Party's contractors; sudden actions of the elements; actions or inactions by Governmental Authorities. 

        16.2 Certain
Delays not Excused. Notwithstanding that a Force Majeure Event otherwise exists, the provisions of this Article 16 shall not
excuse the obligation to pay money in a timely manner, except to the extent that the Force Majeure Event directly affects the ability to remit such payments in a timely manner, nor shall a Force
Majeure Event extend the In-Service Deadline beyond [***]. 

        16.3 Notice
of Force Majeure Events. As soon as possible following the date of commencement of any Force Majeure Event and in no event later
than [***] after the date the Party whose performance is affected by the Force Majeure Event knows of the occurrence of such an event, the affected Party shall advise the other
Party in writing of the commencement, the nature and expected duration of such Force Majeure Event. If means of providing notice to the other Party are interrupted, such notice shall be provided
within [***] after the resumption of means of providing notice to the other Party. As soon as possible and in no event later than [***] following the
termination of a Force Majeure Event, the Party having invoked such Force Majeure Event as a cause of suspension and/or delay of performance shall notify the other Party that it is able to resume
performance. 

        16.4 Period
of Suspension or Delay and Mitigation. The suspension or delay of performance due to a Force Majeure Event shall be of no greater
scope and no longer duration than is required by the Force Majeure Event. The affected Party shall: (a) undertake all Commercially Reasonable Efforts to prevent and reduce to a minimum and
mitigate the effect of any delay occasioned by any Force Majeure Event; and (b) undertake Commercially Reasonable Efforts to ensure resumption of normal performance of this Lease after the
termination of any Force Majeure Event and shall perform its obligations to the maximum extent practicable. 

 
 

ARTICLE 17.
  REPRESENTATIONS AND WARRANTIES    
    

        17.1 Representations
and Warranties of Lessee. Lessee represents and warrants to Lessor as follows, as of the execution date of this Lease: 

        (a)   Lessee
is duly organized, validly existing and in good standing under the laws of the state of its organization, with full power and authority to conduct its business as
it is now being conducted, to own or use the properties and assets that it purports to own or use and to perform all of its obligations under this Lease. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

33

 

        (b)   This
Lease constitutes the legal, valid and binding obligation of Lessee, enforceable against Lessee in accordance with its terms. Lessee has the absolute and
unrestricted right, power, authority and capacity to execute and deliver this Lease and to perform its obligations hereunder. 

        (c)   The
execution, delivery or performance of the Project Agreements by Lessee will not directly or indirectly (with or without notice or lapse of time):
(i) contravene, conflict with or result in a violation of any provision of the Organizational Documents of Lessee, or any resolution adopted by the stockholders, members, board of directors, or
the general partner (as the case may be) of Lessee currently in effect; (ii) contravene, conflict with or result in a violation of, or give any Governmental Authority or other Person the right
to exercise any remedy or obtain any relief under, any Legal Requirement or any Order to which Lessee, or any of the assets owned or used by Lessee, may be subject; (iii) contravene, conflict
with or result in a violation of any of the terms or requirements of, or give any Governmental Authority the right to revoke, withdraw, suspend, cancel, terminate or modify
any Permit that is held by Lessee or Lessor for the mining operation, or that otherwise relates to the business of, or any of the assets owned or used by, Lessee; or (iv) contravene, conflict
with or result in a violation or breach of any provision of, or give any Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to
cancel, terminate or modify any Contract which it has entered into and is currently enforceable against it. 

        (d)   To
the best of Lessee's knowledge, there is no pending Proceeding that has been commenced that challenges, or that may have the effect of preventing, delaying, making
illegal or otherwise interfering with, the performance by Lessee of any of its obligations hereunder. 

        (e)   To
the best of Lessee's knowledge, the Permits listed on Exhibit "H" are all of the Permits which are necessary in order
to allow Lessee to construct and operate the LNG Facility. 

        (f)    Neither
Lessee nor Parent is a Prohibited Person. 

        17.2 Representations
and Warranties of Lessor. Lessor represents and warrants to Lessee as follows, as of the effective date of this Lease: 

        (a)   Lessor
is duly organized, validly existing and in good standing under the laws of the state of its organization, with full power and authority to conduct its business as
it is now being conducted, to own or use the properties and assets that it purports to own or use and to perform all its obligations under this Lease. 

        (b)   This
Lease constitutes the legal, valid and binding obligation of Lessor, enforceable against Lessor in accordance with its terms. Lessor has the absolute and
unrestricted right, power, authority and capacity to execute and deliver this Lease and to perform its obligations hereunder. 

        (c)   The
execution, delivery and performance of this Lease by Lessor will not directly or indirectly (with or without notice or lapse of time): (i) contravene,
conflict with or result in a violation of any provision of the Organizational Documents of Lessor, or any resolution adopted by the stockholders, members, board of directors, or the general partner
(as the case may be) of Lessor currently in effect; or (ii) contravene, conflict with or result in a violation or breach of any provision of, or give any Person the right to declare a default
or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate or modify any Contract which it has entered into and is currently enforceable against it. 

        (d)   To
Lessor's knowledge, there is no pending Proceeding that has been commenced that challenges, or that may have the effect of preventing, delaying, making illegal or
otherwise interfering with, the performance by Lessor of its obligations hereunder. 

        (e)   Lessor
is not a Prohibited Person. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

34

 

        17.3 Acknowledgment.
Each of Lessor and Lessee acknowledges that the representations and warranties set forth in this Article 17 and
elsewhere in this Lease constitute the sole and exclusive representations and warranties of the Parties in connection with the transactions contemplated hereby. There are no representations,
warranties, covenants, understandings or agreements among the Parties regarding the Premises or the LNG Facility other than those contained in this Lease. Without limiting the generality of the
foregoing, Lessor acknowledges that in entering into this Lease, Lessor is not relying upon any projections as to the production or revenue generating capacity of the LNG Facility which may have been
provided to Lessor by Lessee, and Lessee acknowledges that neither Lessor nor any agent of Lessor has made any representation or warranty with respect to the Premises or their condition, including,
without limitation, with respect to the presence or absence of Hazardous Substances, the geophysical condition of the Demised Land, or the availability of adequate utilities (except to the extent that
Lessor has agreed to provide the same hereunder). Lessee agrees that the Premises shall be leased and delivered to Lessee in its "AS-IS/WITH ALL FAULTS" condition. 

 
 

ARTICLE 18.
  JOINDER    
    

        18.1 Joinder
of CE Construction CE construction joins in this Lease as a party solely at the request of Lessee for purposes of allowing Lessee
to cause the construction of the LNG Facility and any other Improvements permitted to be made by Lessee under the Lease to be completed in accordance with applicable contractor licensing requirements.
CE Construction represents and warrants to Lessor that CE Construction holds all of the licenses necessary to construct the LNG Facility and such other Improvements. CE Construction shall not have any
rights to enforce this Lease against Lessor and all such enforcement rights shall be vested in Lessee. Nothing in this Lease is intended to provide CE Construction with any rights of possession or
occupancy of the Demised Land, including, without limitation, any rights as a tenant, subtenant or licensee of Lessor or Lessee, and CE Construction's right to enter upon the Demised Land shall be
solely those of a guest or invitee of Lessee. Any breach of or default under any of the provisions of this Lease by CE Construction shall be deemed to be a breach of or default by Lessee under this
Lease and shall entitle Lessor to exercise any or all of its rights and remedies under this Lease or at law or in equity. Any notices required to be provided under this Lease, including notices with
respect to any default by Lessee, shall be deemed to have been provided to both Lessee and CE Construction upon the delivery of such notice to Lessee in accordance with the provisions of this
Agreement. 

 
 

ARTICLE 19.
  MISCELLANEOUS PROVISIONS    
    

        19.1 Headings.
The article and section headings used in this Lease are for purposes of convenience only. They shall not be construed to limit or
to extend the meaning of any part of this Lease. 

        19.2 Exhibits.
Each and every exhibit or schedule to this Lease to which reference is made in this Lease or the Exhibits hereto is incorporated,
by that reference, into this Lease and made a part hereof. 

        19.3 Recitals.
Lessor and Lessee each represent and warrant to the other that it has no knowledge or notice of any facts or circumstances
indicating that any of the Recitals is false, incomplete, or misleading as written. The Recitals are, by this reference, incorporated into, and made a part of, this Lease. 

        19.4 Waiver.
Waiver by Lessor of any breach of any provision of Lease shall not be deemed to be a waiver of such provision or of any subsequent
breach of the same or of any other provision of this Lease. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

35

 

        19.5 Notices
Any notice, demand, approval, consent, or other communication required or desired to be given under this Lease in writing shall be
personally served or given by overnight express carrier or by mail, and if mailed, shall be deemed to have been given when three (3) business days have elapsed from the date of deposit in the
United States Mail, certified and postage prepaid, addressed to the Party to be served at the last address as has then been given by that Party to the other Party by written notice done in compliance
with the provisions of this Section 19.5. For purposes of this Section 19.5, acknowledged or proven receipt of any notice, demand, approval, consent, or other communication done by
facsimile transmission or by e-mail to a Party's regular business facsimile telephone number shall be deemed personal service thereof effective upon such acknowledgement of proven receipt.
At the date of execution of this Lease, the respective mailing addresses of Lessor and Lessee are as follows:  

	Lessor:	 
	

 	

U.S. Borax Inc.

Boron Operations

14486 Borax Road

Boron, California 93516-2000

Attention: General Manager

Facsimile: (760) 762-7542

	with a copy to:	 
	

 	

U.S. Borax Inc.

26877 Tourney Road

Valencia, California 91355

Attention: Legal Department

Facsimile: (661) 287-5566
	

Lessee and CE Construction:
	

 	

Clean Energy LNG, LLC

3020 Old Ranch Parkway, Suite 200

Seal Beach, California 90740

Facsimile: (562) 546-0097

Attention: Mitchell Pratt

Facsimile: (562) 546-0097
	

with a copy to:
	

 	

Sheppard Mullin Richter & Hampton, LLP

Four Embarcadero Center

17th Floor

San Francisco, California 94111-4106

Attention: James J. Slaby

Facsimile: (415) 434-3947

        19.6 Attorneys'
Fees. In the event that legal proceedings are commenced to enforce or interpret any of the terms or conditions of this Lease,
for breach of any such terms or conditions, or to terminate the leasehold interest or right to possession of Lessee granted by this Lease, the prevailing Party in any such proceedings shall receive
from the losing Party such reasonable sum for attorneys' fees and costs incurred, not limited to taxable costs, as may be fixed by the court, whether incurred at the trial court level or on any
appeal, in addition to all other relief to which prevailing Party may be entitled. 

36

 

        19.7 Successors.
Without limiting or otherwise affecting any restrictions on assignments of this Lease or rights or duties under this Lease,
this Lease and all of its terms and conditions shall run with the Demised Land and the Easements and shall be binding upon and inure to the benefit of the successors and assigns of Lessor and Lessee. 

        19.8 Surrender
of Lease Not Merger. Neither the voluntary or other surrender of this Lease by Lessee nor a mutual cancellation hereof shall
cause a merger of the titles of Lessor and Lessee, but such surrender or cancellation shall operate as an assignment to Lessor of any or all such subleases that have been approved in writing by Lessor
or are otherwise acceptable to Lessor. 

        19.9 Entire
Agreement. The Project Agreements set forth the entire agreement between Lessor and Lessee for the lease of the Premises and
supersede all prior negotiations and agreements, written or oral, concerning or relating to the subject matter of this Lease, and may not be modified except by a writing executed by both Parties. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

37

 

        19.10 Severability.
If any provision of this Lease or the application thereof to any person or circumstances shall to any extent be held in any
proceeding to be invalid or unenforceable, the remainder of this Lease shall be valid and enforceable to the fullest extent permitted by law, but only, if and to the extent such enforcement would not
materially and adversely frustrate the Parties essential objectives as expressed herein. 

        19.11 Construction.
No provision of this Lease shall be construed against or interpreted to the disadvantage of either Lessor or Lessee by any
court or other governmental or judicial authority by reason of such Party's having or being deemed to have structured, written, drafted or dictated such provisions. 

        19.12 Governing
Law. This Lease and all of the rights and obligations of Lessor and Lessee under this Lease or related to the Demised Land, or
any part thereof, shall be governed by the laws of the State of California, not including choice of law rules and principles. 

        19.13 Time
is of Essence. Time is of the essence of this Lease. 

        19.14 No
Joint Venture. Nothing in this Lease shall be construed to render or constitute Lessor in any way or for any purpose a partner, joint
venturer or associate in any relationship with Lessee other than that as landlord and tenant, nor shall this Lease be construed to authorize either Party to act as agent for the other Party except as
expressly provided to the contrary in this Lease. 

        19.15 Counterparts.
This Lease may be executed in any number of counterparts, all of which together shall be deemed one and the same instrument,
and each of which counterparts shall be deemed an original of this Lease for all purposes notwithstanding that less than all of the signatures may appear on any one counterpart. 

        19.16 Recordation.
Lessor and Lessee agree that this Lease shall not be recorded in the Official Records. Upon the Term Commencement Date, the
Parties shall, within [***], mutually execute, acknowledge before a notary, and record in the Official Records, a memorandum of this Lease in customary form. The costs of such
recordation shall be shared equally by Lessee and Lessor. 

        19.17 No
Sharing of Grants. Except as otherwise expressly provided herein, any grants or credits obtained by a Party hereto shall be retained by
that Party and such Party shall not be required to share such grants or credits with the other Party hereto. 

        19.18 Public
Announcements; Community Interaction. 

        (a)   Other
than those incidental to filings required to comply with Legal Requirements or in connection with any public hearing, legal proceedings or dispute resolution
procedure, any public announcement or similar publicity with respect to this Lease will be issued, if at all, at such time and in such manner as the Parties mutually determine. The Parties shall
cooperate in good faith to agree upon the content of any public announcement incidental to filings required to comply with Legal Requirements or in connection with any public hearing. Notwithstanding
the foregoing, in the event that either Party or its counsel (i) determines that, as a result of the Parties entering into this Lease, or the commencement of the transactions contemplated
herein or therein, a filing on Form 8-K (or any similar or successor form) is required under applicable securities laws, including the Securities Exchange Act of 1934, as amended,
or (ii) either Party is intending to file a registration statement under the Securities Act of 1933, as amended, covering certain of its securities, and such Party or its counsel
believes that a copy of this Lease, or a description of the transaction contemplated herein or therein, is necessary to
complete such registration statement or otherwise comply with applicable Securities and Exchange Commission ("SEC") requirements, such Party shall be entitled to make such filing. In the event this
Lease is filed pursuant to the applicable SEC requirements, the Party filing this Lease will use Commercially Reasonable Efforts (which shall not include the obligation to commence any legal
proceeding or to incur any substantial out-of-pocket costs or expenses) to obtain confidential treatment of this Lease by the SEC. 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

38

 

        (b)   Lessor
and Lessee shall reasonably cooperate so as to develop and maintain (and, in the case of Lessor, preserve) a positive working relationship with the local
community surrounding the Borax Site. Neither party shall not take any actions which could reasonably be expected to have a material adverse effect upon the other Party's relationship with the
community in which the Borax Site is located, including relationships with municipal and county governments, the State of California, and community organizations located in and around the Borax Site. 

        19.19 Confidentiality.
Except for disclosures permitted under Section 19.18, during the Term, and for a period of two (2) years
after the termination or expiration of this Lease, the Parties will maintain in confidence all non public information and documents, including this Lease, provided or to be provided by and to one
another with pursuant to or in connection with this Lease, except that information and documents may be disclosed (a) by a Party to its and its Affiliates' directors, officers, employees and
agents, including accountants, legal counsel and other advisors, and to its and its Affiliates' actual or prospective equity investors, lenders and underwriters, (b) to the extent requested by
any Governmental Authority or reasonably deemed appropriate to disclose by Lessee in connection with its application for the Permits and other approvals by Government Authorities contemplated hereby
(including, without limitation, disclosures to community groups or other potential stakeholders in the permitting process), (c) to the extent required by Legal Requirements or by any subpoena
or similar legal process, (d) in connection with the exercise of any remedies under this Lease or any Proceeding relating to this Lease or the enforcement of rights hereunder,
(e) subject to an agreement containing provisions substantially the same as those of this Section 19.19, to any permitted assignee or successor or prospective assignee or successor of a
Party in and to any of the rights of such Party under this Lease, and (f) to the extent such information (i) becomes publicly available other than as a result of a breach of this
Section 19.19 or (ii) becomes available to a Party on a non-confidential basis from a source other than the other Party. 

        19.20 Non
Dedication. The Parties acknowledge and agree that neither Party intends to perform its obligations hereunder as an electrical
corporation, a gas corporation, a water corporation or as a public utility on a regulated or other basis. Each Party agrees that the delivery and acceptance of any services to be provided by one Party
to the other Party under this Lease is solely on the terms set forth herein. Neither Party dedicates to the public any part of the services provided by such Party under this Lease. Neither Party shall
assert in any proceeding before any Governmental Authority or otherwise that it or the other Party is an electrical corporation, a gas corporation, a water corporation or a public utility, nor shall
either Party assert that the other Party has dedicated any services provided by such Party under this Lease to the public. In the event that any [***], Lessor shall have the
right to cease providing such service upon [***] prior written notice to Lessee. Upon the cessation of any service to be provided by Lessor to Lessee under this Lease as a
result of the foregoing action by a Governmental Authority, the Rent shall be adjusted pursuant to Exhibit "J". In the event service is so discontinued,
the Parties shall reasonably cooperate to restructure, if possible, the manner in which such service is provided to Lessee so as to make such service not subject to regulation as a public utility
under applicable Legal Requirements. 

        19.21 No
Solicitation of Employees.[***] 

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

39

 

        19.22 Dispute
Resolution Procedures. In the event a dispute arises between the Parties related to this Lease, the following process shall be
followed: 

        (a)   Each
Party will designate a senior executive ("Designated Representative") to represent it in connection with any dispute
that may arise between the Parties (a "Party Dispute"). The designations will be communicated by each Party to the other Party not later than
[***] following the date of execution of this Lease in the manner provided in Section 19.5. Subsequent changes in a Party's Designated Representative shall be
communicated in the same manner. 

        (b)   In
the event that a Party Dispute should arise, the Designated Representatives will meet, with their attorneys, if they so agree, within [***]
after written request by any Party to any other Party (the "Dispute Notice") in an effort to resolve the Party Dispute. 

        (c)   If
the Designated Representatives are unable to resolve the Party Dispute within [***] following their first meeting, the Party Dispute will be
submitted to non-binding mediation in Los Angeles, California before a mediator made available to the Parties through JAMS. 

        (d)   In
the event that the mediation process fails to result in a resolution of the Party Dispute within [***] following receipt of the Dispute
Notice, the Parties may take any action they may deem necessary to protect their interests. 

        (e)   The
foregoing provisions of this Section 19.22 shall not be construed to prohibit any Party from commencing, at any time prior to the completion of the process
described above, any action or proceeding which such Party determines is necessary to protect or preserve any rights or remedies it may have in law or in equity. 

        19.23 Work
of Improvement. To the extent that this Lease contemplates the construction of a work of improvement or any related activity for
which a license from the California Contractor's State License Board is required, all such work will be performed by CE Construction as general contractor. 

        [Next Page Is Signature Page]

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

40

 

        IN
WITNESS WHEREOF, Lessor and Lessee have executed this Lease on the dates set forth opposite their signatures below. 

	 	 	LESSOR:
	

 
	
 	

U.S. BORAX INC., a Delaware corporation

	

 	
 	

By:	

 
	 	 	 	/s/ Gary Goldberg

	

 	
 	

Its:	

 
	 	 	 	President and Chief Executive

	

 	
 	

LESSEE:
	

 	
 	

CLEAN ENERGY LNG, LLC,

a California limited liability company
	

 	
 	

By:	

 
	 	 	 	/s/ Andrew J. Littlefair

	

 	
 	

Its:	

 
	 	 	 	President and CEO

	

 	
 	
CE CONSTRUCTION:
	

 	
 	

CLEAN ENERGY CONSTRUCTION,

a California corporation
	

 	
 	

By:	

 
	 	 	 	/s/ Andrew J. Littlefair

	

 	
 	

Its:	

 
	 	 	 	President and CEO

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

41

  

 
 

TABLE OF CONTENTS  
    

	 
	 	 
	 	Page

	ARTICLE 1. DEFINITIONS	 	1
	1.1	 	"Access Road"	 	1
	1.2	 	"Abandonment"	 	1
	1.3	 	"Affiliate"	 	1
	1.4	 	"Award"	 	2
	1.5	 	"Bankruptcy Code"	 	2
	1.6	 	"Business Day"	 	2
	1.7	 	"Claims"	 	2
	1.8	 	"Cogeneration Facility"	 	2
	1.9	 	"Commercially Reasonable Efforts"	 	2
	1.10	 	"Construction Commencement"	 	2
	1.11	 	"Contract"	 	2
	1.12	 	"Core Service"	 	2
	1.13	 	"Core Service Default"	 	2
	1.14	 	"Core Service Default Claims"	 	2
	1.15	 	"Core Services Disruption"	 	2
	1.16	 	"Date of Taking"	 	3
	1.17	 	"Demised Land"	 	3
	1.18	 	"Easements"	 	3
	1.19	 	"Environmental Laws"	 	3
	1.20	 	"Exchange Act"	 	3
	1.21	 	"Hazardous Substance"	 	3
	1.22	 	"Governmental Authority"	 	3
	1.23	 	"Improvements"	 	3
	1.24	 	"In-Service Date"	 	4
	1.25	 	"Interconnection Plans"	 	4
	1.26	 	"Legal Requirements"	 	4
	1.27	 	"Lessee Controlled Roadways"	 	4
	1.28	 	"Lessor Controlled Roadways"	 	4
	1.29	 	"Lessee's Improvements"	 	4
	1.30	 	"Lessor Parties"	 	4
	1.31	 	"Lessor's Improvements"	 	4
	1.32	 	"LNG"	 	4
	1.33	 	"LNG Facility"	 	4
	1.34	 	"Official Records"	 	4
	1.35	 	"Operational"	 	4
	1.36	 	"Order"	 	4
	1.37	 	"Organizational Documents"	 	4
	1.38	 	"Partial Taking"	 	4
	1.39	 	"Permits"	 	5
	1.40	 	"Person"	 	5
	1.41	 	"Personal Property"	 	5
	1.42	 	"Plans and Specifications"	 	5
	1.43	 	"Plant Layout Plans"	 	5
	1.44	 	"Premises"	 	5
	1.45	 	"Proceeding"	 	5

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

i

 

	 
	 	 
	 	Page

	1.46	 	"Prohibited Person"	 	5
	1.47	 	"Project Agreements"	 	5
	1.48	 	"Property Taxes"	 	5
	1.49	 	"Release"	 	5
	1.50	 	"Substantial Taking"	 	6
	1.51	 	"Survey"	 	6
	1.52	 	"Taking"	 	6
	1.53	 	"Total Taking"	 	6
	1.54	 	"Train"	 	6
	

ARTICLE 2. DEMISING PROVISIONS	
 	

6
	2.1	 	Demised Land	 	6
	2.2	 	Lessee's Access Rights	 	6
	2.3	 	Easements	 	8
	2.4	 	Lessor's Services	 	8
	2.5	 	Term and Termination	 	9
	2.6	 	Quiet Enjoyment	 	11
	

ARTICLE 3. RENT	
 	

11
	3.1	 	Base Rent	 	11
	3.2	 	Payment of Base Rent	 	11
	3.3	 	Base Rent Adjustments	 	11
	3.4	 	Additional Rent	 	11
	3.5	 	No Offset	 	12
	3.6	 	Interest on Arrearages	 	12
	

ARTICLE 4. USE OF PREMISES	
 	

12
	4.1	 	Permitted Uses	 	12
	4.2	 	Compliance with Legal Requirements; Nuisance	 	12
	4.3	 	Hazardous Substances	 	13
	4.4	 	Utilities	 	14
	4.5	 	Entry by Lessor; Suspension of Activities	 	14
	4.6	 	Additional Reservations and Restrictions	 	15
	4.7	 	Rail Spur	 	15
	4.8	 	On-Site Fueling Station	 	15
	4.9	 	Protocol for Emergencies	 	15
	4.10	 	Mine Safety Regulation	 	15
	

ARTICLE 5. PROPERTY TAXES	
 	

16
	5.1	 	Real Property Taxes	 	16
	5.2	 	Personal Property Taxes	 	16
	5.3	 	Contests	 	17
	5.4	 	Apportionment	 	17
	

ARTICLE 6. INDEMNITY AND INSURANCE	
 	

17
	6.1	 	Lessee's Indemnity	 	17
	6.2	 	Liability Insurance	 	17
	6.3	 	Casualty Insurance	 	18
	6.4	 	General	 	18
	6.5	 	Driver Certification	 	18
	

ARTICLE 7. OPERATION, MAINTENANCE AND REPAIR OF THE LNG FACILITY	
 	

18
	7.1	 	Lessor's Obligations	 	18
	7.2	 	Lessee's Obligations	 	18

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

ii

 

	 
	 	 
	 	Page

	7.3	 	Surrender of the Premises	 	19
	

ARTICLE 8. CONSTRUCTION ACTIVITIES AND ALTERATIONS	
 	

19
	8.1	 	Plans and Specifications	 	19
	8.2	 	Construction of LNG Facility	 	19
	8.3	 	Insurance Covering Lessee's Work	 	20
	8.4	 	Relocation of Utilities	 	20
	8.5	 	Personal Property	 	20
	8.6	 	Liens and Notices of Violation Prohibited	 	20
	8.7	 	Mechanics' Liens	 	20
	8.8	 	Lessor's Right to Discharge	 	21
	8.9	 	Permits	 	21
	8.10	 	Sharing of Information	 	21
	8.11	 	Lessor's Additional Improvements	 	21
	8.12	 	Future Alterations	 	22
	

ARTICLE 9. DESTRUCTION	
 	

22
	9.1	 	Obligation to Rebuild	 	22
	9.2	 	No Abatement of Rent	 	23
	

ARTICLE 10. CONDEMNATION	
 	

23
	10.1	 	Rights	 	23
	10.2	 	Total Taking	 	23
	10.3	 	Substantial Taking	 	23
	10.4	 	Possession Following Notice of Taking	 	23
	10.5	 	Apportionment for Award of Total Taking	 	23
	10.6	 	Partial Taking	 	24
	10.7	 	Taking for Temporary Use	 	24
	10.8	 	Remediation Obligations	 	24
	10.9	 	Sole and Exclusive Remedies	 	24
	

ARTICLE 11. LESSEE'S DEFAULT	
 	

24
	11.1	 	Lessee's Default Defined	 	24
	11.2	 	Lessor's Right to Terminate	 	25
	11.3	 	Lessor's Right Not To Terminate	 	26
	11.4	 	Cessation of Services	 	26
	11.5	 	General	 	26
	11.6	 	Right of Lessor to Perform	 	26
	

ARTICLE 12. LESSOR'S DEFAULT	
 	

26
	12.1	 	Lessor's Default Defined	 	26
	12.2	 	Lessee's Remedies	 	26
	12.3	 	Limitations on Lessor's Liability	 	27
	12.4	 	Termination of Services by Lessor	 	28
	

ARTICLE 13. ESTOPPEL CERTIFICATES AND SALE BY LESSOR	
 	

29
	13.1	 	Estoppel Certificates, etc.	 	29
	13.2	 	Failure to Deliver Estoppel Certificates	 	29
	13.3	 	Liability Upon Transfer	 	29
	

ARTICLE 14. ASSIGNMENT AND SUBLETTING	
 	

30
	14.1	 	Generally Forbidden	 	30

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

iii

 

	 
	 	 
	 	Page

	14.2	 	Permitted Transactions	 	30
	14.3	 	Transfer Procedures	 	30
	14.4	 	Prohibited Persons	 	31
	14.5	 	Miscellaneous Provisions	 	31
	

ARTICLE 15. RIGHT OF FIRST REFUSAL	
 	

31
	15.1	 	ROFR Notice	 	31
	15.2	 	Response to ROFR Notice	 	31
	15.3	 	Timing of Transfer; Change of Terms	 	32
	15.4	 	Termination of Right	 	32
	15.5	 	Valuation	 	32
	15.6	 	Transfer Defined	 	32
	15.7	 	Right of First Refusal Exercised	 	32
	15.8	 	No Waiver of Assignment Restrictions	 	32
	

ARTICLE 16. FORCE MAJEURE	
 	

32
	16.1	 	Effect of Force Majeure Events	 	32
	16.2	 	Certain Delays not Excused	 	33
	16.3	 	Notice of Force Majeure Events	 	33
	16.4	 	Period of Suspension or Delay and Mitigation	 	33
	

ARTICLE 17. REPRESENTATIONS AND WARRANTIES	
 	

33
	17.1	 	Representations and Warranties of Lessee	 	33
	17.2	 	Representations and Warranties of Lessor	 	34
	17.3	 	Acknowledgment	 	34
	

ARTICLE 18. JOINDER	
 	

35
	18.1	 	Joinder of CE Construction	 	35
	

ARTICLE 19. MISCELLANEOUS PROVISIONS	
 	

35
	19.1	 	Headings	 	35
	19.2	 	Exhibits	 	35
	19.3	 	Recitals	 	35
	19.4	 	Waiver	 	35
	19.5	 	Notices	 	35
	19.6	 	Attorneys' Fees	 	36
	19.7	 	Successors	 	36
	19.8	 	Surrender of Lease Not Merger	 	36
	19.9	 	Entire Agreement	 	37
	19.10	 	Severability	 	37
	19.11	 	Construction	 	37
	19.12	 	Governing Law	 	37
	19.13	 	Time is of Essence	 	37
	19.14	 	No Joint Venture	 	37
	19.15	 	Counterparts	 	37
	19.16	 	Recordation	 	37
	19.17	 	No Sharing of Grants	 	37
	19.18	 	Public Announcements; Community Interaction	 	37
	19.19	 	Confidentiality	 	38
	19.20	 	Non Dedication	 	38
	19.21	 	No Solicitation of Employees	 	38
	19.22	 	Dispute Resolution Procedures	 	39
	19.23	 	Work of Improvement	 	39

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

iv

 

	Exhibits
 
	 	 

	Exhibit "A"	 	Survey of the Premises
	Exhibit "B"	 	Easements and Exclusion Zone Easements
	Exhibit "C"	 	LNG Facility
	Exhibit "C-1"	 	LNG Facility Site Plan
	Exhibit "D"	 	Electric Power Sales
	Exhibit "D-1"	 	Energy Price
	Exhibit "E"	 	Water Supply Services
	Exhibit "E-1"	 	Payment Schedule for Water Services
	Exhibit "E-2"	 	Quantity and Quality Specifications
	Exhibit "F"	 	Other Lessor Services
	Exhibit "F-1"	 	Payment Schedule for Other Lessor Services
	Exhibit "F-2"	 	Blended Gas Quality Standards
	Exhibit "F-3"	 	Gas Metering
	Exhibit "F-3A"	 	Gas Pipeline Diagram
	Exhibit "G"	 	Form of Parent Guaranty
	Exhibit "H"	 	Required Permits
	Exhibit "I"	 	Form of Term Commencement Date Letter
	Exhibit "J"	 	Base Rent
	Exhibit "J-1"	 	Calculation of LNG Discount
	Exhibit "K"	 	Terms and Conditions for On-Site Fueling Station
	Exhibit "L"	 	Removal and Remediation Obligations
	Exhibit "M"	 	Lessor's Improvement Obligations
	Exhibit "N"	 	Exceptions to Lessor's Representations

	[***]
	Confidential
portions of this document have been redacted and filed separately with the Commission. 

v

QuickLinks

Exhibit 10.25 EXECUTION COPY

GROUND LEASE

RECITALS

ARTICLE 1. DEFINITIONS

ARTICLE 2. DEMISING PROVISIONS

ARTICLE 3. RENT

ARTICLE 4. USE OF PREMISES

ARTICLE 5. PROPERTY TAXES

ARTICLE 6. INDEMNITY AND INSURANCE

ARTICLE 7. OPERATION, MAINTENANCE AND REPAIR OF THE LNG FACILITY

ARTICLE 8. CONSTRUCTION ACTIVITIES AND ALTERATIONS

ARTICLE 9. DESTRUCTION

ARTICLE 10. CONDEMNATION

ARTICLE 11. LESSEE'S DEFAULT

ARTICLE 12. LESSOR'S DEFAULT

ARTICLE 13. ESTOPPEL CERTIFICATES AND SALE BY LESSOR

ARTICLE 14. ASSIGNMENT AND SUBLETTING

ARTICLE 15. RIGHT OF FIRST REFUSAL

ARTICLE 16. FORCE MAJEURE

ARTICLE 17. REPRESENTATIONS AND WARRANTIES

ARTICLE 18. JOINDER

ARTICLE 19. MISCELLANEOUS PROVISIONS

TABLE OF CONTENTS

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