Document:

Exhibit 10.18

 

LEASE AND OPTION TO PURCHASE

 

THIS
LEASE AND OPTION TO PURCHASE (“Lease”) is entered into as of this 20th
day of December, 2018 (the “Effective Date”), by and between PINAL COUNTY, an Arizona political subdivision
(“Landlord”), and ATIEVA USA, INC., a Delaware corporation d/b/a Lucid Motors USA, Inc. (“Tenant,”
Landlord and Tenant are sometimes referred to collectively as “Parties” and individually as a “Party”).

 

RECITALS

 

A.            This
Lease is entered into pursuant to that certain Development Agreement dated as of the Effective Date (the “Development
Agreement”), among Landlord, the City of Casa Grande (“Casa Grande”) and Tenant to facilitate the
development of the Project as defined in and more particularly described in the Development Agreement. This Lease is made in accordance
with and subject to the provisions of the Development Agreement.

 

B.            As
contemplated in the Development Agreement, Landlord intends to acquire fee title to the parcels of land more particularly described
in Exhibit A attached hereto, together with any structures or improvements presently situated thereon or to be constructed
thereon (the “Initial Premises”).

 

C.            This
Lease (i) is for at least ninety percent (90%) of, but not more than, the appraised rental valuation of the Premises as determined
by an appraisal dated October 2, 2018, and prepared by Landpro Valuation (J. Douglas Estes, MAI, SW/WA), an experienced appraiser
appointed pursuant to A.R.S. §11-256(B); and (ii) is for a term expiring less than four (4) years from the Commencement
Date, and accordingly is exempt from the notice and auction requirements of A.R.S. §11-256(C) and (D) pursuant to
A.R.S. §11-256(E).

 

D.            The
development of the Project and the fulfillment of this Lease will result in significant direct and indirect benefits accruing to
Landlord and the general public. The Parties intend to promote economic development, by providing for the rental and development
of the Premises.

 

AGREEMENT

 

IN
CONSIDERATION of the foregoing recitals and representations and the mutual covenants and conditions in this Lease, the
Parties agree as follows:

 

SECTION 1.
LEASE OF THE SITE

 

1.1           Premises.
Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, upon and in consideration of the terms and conditions
contained herein, the Initial Premises, subject, however, to the covenants, restrictions, easements, agreements, and reservations
of record set forth on Exhibit C and such other covenants, restrictions, easements, agreements, and reservations of
record as may be expressly permitted pursuant to Sections 1.2 or 8.5 or otherwise consented
to in writing by Tenant, in its sole discretion (collectively, the “Permitted Encumbrances”).

 

    1 

     

    

 

1.2            Modification
of Premises. The Parties acknowledge that the Development Agreement contemplates portions of the Premises may be dedicated
for public use or made subject to Permitted Encumbrances. The “Premises” shall be deemed to refer to the Initial
Premises, as may be modified pursuant to the Development Agreement, together with any structures or improvements presently situated
thereon, subject to Section 6.1.

 

1.3            Term.
The term of this Lease (“Term”) shall commence on the date Landlord acquires the Initial Premises (“Commencement
Date”) and shall expire at 11:59 p.m. on the day immediately prior to the fourth (4th) anniversary of
the Commencement Date, unless this Lease is sooner terminated as hereinafter provided. If the Commencement Date has not occurred
on or before the date that is ninety (90) days after the Effective Date, either of Landlord or Tenant may terminate this Lease
by written notice to the other delivered prior to Landlord’s acquisition of the Initial Premises.

 

SECTION 2.        
DEFINITIONS

 

2.1           Definitions.
For the purposes of this Lease, the following words shall have the definition and meaning hereafter set forth:

 

“Additional
Payments”: As defined in Section 4.1.

 

“Affiliate”:
As applied to any person or entity: (a) any person or entity directly or indirectly controlling, controlled by, or under common
control with, such person or entity; or (b) any person or entity owning or controlling fifty-one percent (51%) or more of
the outstanding voting securities or interests of such person or entity; (c) any person or entity resulting from a merger
or consolidation with such person or entity.

 

“Applicable
Laws”: All statutes, codes, laws, acts, ordinances, orders, judgments, decrees, injunctions, rules, regulations, permits,
licenses, authorizations, directions and requirements of all federal, state, county, municipal, and other governments, departments,
commissions, boards, courts, authorities, officials and officers, ordinary or extraordinary, which may be applicable to the Premises
or any part thereof, or any of the streets, alleys, passageways, sidewalks, curbs or gutters adjoining the Premises or any part
thereof, or any use, manner of use or conditions of the Premises or any part thereof.

 

“Bond
Retirement Amount”: As defined in Section 25.3A.

 

“Bond
Servicing Costs”: As defined in Section 25.3A.

 

“Bonds”:
As defined in Section 25.3A.

 

“Casa
Grande”: As defined in Recital A.

 

“Claims”:
As defined in Section 12.1A.

 

“Closing”:
As defined in Section 25.2.

 

“Commencement
Date”: As defined in Section 1.3.

 

    2 

     

    

 

“Condemnation
Proceeds”: As defined in Section 14.2.

 

Condemnation
Purchase Price Credit”: As defined in Section 14.2B.

 

Development
Agreement”: As defined in Recital A.

 

“Environmental
Law”: Any applicable federal, state, or local law, statute, ordinance, rule, regulation, policy, guidance, order, judgment,
or decision of any governmental authority relating to the protection of the environment or to any emission, discharge, generation,
processing, storage, use, holding, abatement, existence, Release, threatened or potential Release, or transportation of any Hazardous
Substance, including any disclosure or reporting obligation thereof, whether to be disclosed or reported to any governmental authority
or whether a report or record is required to be maintained internally, including (a) the Comprehensive Environmental Response,
Compensation and Liability Act, 42 U.S.C. §9601 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. §6901
et seq.; the Toxic Substances Control Act, 15 U.S.C. §2601 el seq.; the Safe Drinking Water Act, 42 U.S.C. §300h
et seq.; the Clean Water Act, 33 U.S.C. §1251 et seq.; the Clean Air Act, 42 U.S.C. §7401 et seq.;
the Arizona Water Quality Assurance Revolving Fund, A.R.S. §49-281 et seq.; the Arizona Water Quality Control Program,
A.R.S. §49-201 et seq.; and the Arizona Underground Storage Tank Law, A.R.S. §49-101 et seq., as amended
now and as may be amended in the future; and (b) all other legal requirements pertaining to reporting, licensing, permitting,
approving, investigation, or remediation of emissions, discharges, Releases, or threatened or potential Releases of Hazardous Substances
into, onto, or beneath the air, surface water, ground water, or land, or relating to the manufacture, processing, distribution,
sale, use, treatment, receipt, storage, disposal, transport, or handling of Hazardous Substances.

 

“Environmental
Obligations”: As defined in Section 26.5.

 

“Event
of Default”: As defined in Section 16.1.

 

“First
Notice”: As defined in Section 16.1A.

 

“Hazardous
Substances”: Any substance that (a) is or contains asbestos, urea formaldehyde foam insulation, polychlorinated
biphenyls, petroleum or petroleum-derived substances or wastes, radon gas, or related materials, (b) requires investigation,
removal or remediation or for which there are restrictions, regulations or rules pursuant to any Environmental Law regarding
its use, handling or disposal, under any Environmental Law, or is defined, listed, or identified as a “hazardous waste,”
 “Hazardous Substance,” “contaminant, toxic substance, “toxic material,” “pollutant,”
or “hazardous substance,” thereunder, or (c) is toxic, explosive, corrosive, flammable, infectious, radiologically
contaminated, carcinogenic, mutagenic, or otherwise hazardous and is regulated by any governmental authority or Environmental Law.

 

“Impositions”:
As defined in Section 4.1.

 

“Improvements”:
Any buildings, streets, curbs, sewers, drainage and flood control structures, sidewalks, hardscape, fences, utilities, landscaping,
signs, parking improvements and facilities, fountains, artwork and other structures or improvements of every kind and nature which
now, or at any time hereafter, exist upon, above or below the Premises.

 

    3 

     

    

 

“Indemnified
Party”: As defined in Section 12.3.

 

“Indemnifying
Party”: As defined in Section 12.3.

 

“Initial
Premises”: As defined in Recital B.

 

“Landlord”:
The Landlord named herein and its permitted successors and assigns.

 

“Landlord’s
Calculation”: As defined in Section 25.3.

 

“Lease
Year”: A twelve (12) month period beginning on the Commencement Date and each successive anniversary thereof. Lease Year
1 shall mean the period commencing on the Commencement Date and expiring at 11:59 p.m. on the day immediately prior to the
first anniversary of the Commencement Date. Each subsequent twelve (12) month period shall be a Lease Year.

 

“Monetary
Default”: As defined in Section 16.1 A.

 

“Net
Rent”: As defined in Section 3.1.

 

“Net
Rent Credit”: As defined in Section 25.3.

 

“Option
Notice”: As defined in Section 25.2.

 

“Option
Period”: As defined in Section 25.2.

 

“Permitted
Encumbrances”: As defined in Section 1.1.

 

“Permitted
Mortgage”: The mortgage, pledge or encumbrance of all (but not less than all) of Tenant’s leasehold estate in the
Premises and rights under this Lease to secure any obligation of Tenant.

 

“Permitted
Mortgagee”: Any savings bank, bank or trust company, savings and loan association, insurance company, college or university,
governmental pension or retirement funds or systems, any pension retirement funds or systems of which any of the foregoing shall
be trustee, or other lender providing funds to Tenant for development of the Premises, construction of the Improvements, or refinancing
of development funds and secured by a Permitted Mortgage.

 

“Premises”:
As defined in Section 1.2.

 

“Purchase
Option”: As defined in Section 25.1.

 

“Purchase
Price”: As defined in Section 25.3A.

 

“Rail
Easements”: As defined in Section 8.6C.

 

“Rail
Crossing”: As defined in Section 8.6A.

 

“Rail
Crossing Escrow Account”: As defined in Section 8.6B.

 

    4 

     

    

 

“Rent
Shortfall”: As defined in Section 25.3.

 

“Second
Notice”: As defined in Section 16.2.

 

“Special
Warranty Deed”: As defined in Section F.

 

“Sublease”:
Any agreement, written or oral, by which Tenant gives any individual or entity any rights of use or occupancy of or any benefit
flowing from the Premises or a portion thereof, including a permit, license or concession.

 

“Tenant”:
The Tenant named herein and its permitted successors and assigns.

 

“Term”:
As defined in Section 1.3.

 

“Work”:
As defined in Section 14.2A.

 

SECTION 3.         
RENT

 

3.1           Net
Rent.

 

A.           Base
and Adjustments. Tenant shall pay to Landlord, in such United States of America coin or currency as at the time of payment
shall be legal tender for the payment of public and private debts at the addresses specified or furnished pursuant to Section 19,
during the Term of this Lease, a net annual rental (“Net Rent”) as follows:

 

	Lease Year	 	 	Net Rent	 
	1	 	 	$	1,825,000.00	 
	2	 	 	$	1,825,000.00	 
	3	 	 	$	1,825,000.00	 
	4	 	 	$	1,825,000.00	 

 

The Parties acknowledge that the Net Rent represents at least
ninety percent (90%) of, but not more than, the appraised rental valuation of the Premises as determined by an experienced appraiser
appointed pursuant to A.R.S. §11-256(B).

 

B.            Annual
Installments. All payments of annual Net Rent shall be made in arrears, in annual installments, without notice, on or prior
to the last day of each Lease Year.

 

C.            Additional
to Other Payments. Net Rent shall be in addition to and over and above all of the other payments to be made by Tenant as
hereinafter set forth.

 

3.2           Rent
Absolutely Net. It is the purpose and intent of the Landlord and Tenant that Net Rent payable hereunder shall be absolutely
net to Landlord so that this Lease shall yield to Landlord the Net Rent herein specified each Lease Year during the term of this
Lease, free of any charges, assessments. Impositions, or deductions of any kind charged, assessed, or imposed on or against the
Premises and without abatement, deduction or set-off by the Tenant, except as hereinafter otherwise specifically provided. Except
as expressly set forth in this Lease or the Development Agreement, Landlord shall not be expected or required to pay any such
charge, assessment or Imposition or be Linder any obligation or liability
hereunder, and all costs expenses, and obligations of any kind relating to the maintenance and operation of the Premises, including
all construction, alterations, repairs, reconstruction, and replacements as hereinafter provided, which may arise or become due
during the term hereof shall be paid by Tenant.

 

    5 

     

    

 

SECTION 4.         
ADDITIONAL PAYMENTS

 

4.1            Additional
Payments. Except as expressly set forth in this Lease or the Development Agreement, Tenant shall pay as “Additional
Payments” during the Term hereof, without notice and without abatement, deduction or setoff, before any fine, penalty,
interest, or cost may be added thereto, or become due or be imposed by operation of law for the nonpayment thereof, all sums, impositions,
costs, expenses and other payments and all taxes (including personal property taxes and taxes on rents, leases or occupancy, if
any, and government property improvement lease excise tax), assessments, special assessments, enhanced municipal services district
assessments, water and sewer rents, rates and charges, charges for public utilities, excises, levies, licenses, and permit fees,
any expenses incurred by Landlord on behalf of Tenant pursuant to the terms of this Lease, including other governmental or quasi-governmental
charges, general and special, ordinary and extraordinary, foreseen and unforeseen, of any kind and nature whatsoever which, at
any Lime during the Term hereof may be assessed, levied, confirmed, imposed upon, or grow or become due and payable out of or with
respect to, or become a lien on, the Premises or any part thereof, or any appurtenances thereto, any use or occupation of the Premises,
or such franchises as may be appurtenant to the use of the Premises (all of which are sometimes herein referred to collectively
as “Impositions” and individually as “Imposition”) provided, however, that:

 

A.            if,
by law, any Imposition may at the option of the Tenant be paid in installments (whether or not interest shall accrue on the unpaid
balance of such Imposition), Tenant may exercise the option to pay the same (and any accrued interest on the unpaid balance of
such Imposition) in installments and in such event, shall pay such installments as they become due during the Term hereof before
any fine, penalty, further interest or cost may be added thereto; and

 

B.            any
Imposition (including Impositions which have been converted into installment payments by Tenant, as referred to in paragraph (A) of
this Section) relating to a fiscal period of the taxing authority, a part of which period is included within the Term hereof and
a part of which is included in the period of time after the expiration of the Term hereof shall (whether or not such Imposition
shall be assessed, levied, confirmed, imposed upon or become a lien upon the Premises, or shall become payable, during the Term
hereof) be adjusted between Landlord and Tenant as of the expiration of the Term hereof, so that Tenant shall pay that portion
of such Imposition attributable to the tenancy period and Landlord shall pay the remainder thereof.

 

4.2           Payments.
Except as provided in the Development Agreement, Tenant shall pay to Landlord, with and in addition to the annual rental payments,
any transaction privilege taxes imposed by any governmental unit on the rentals received by Landlord pursuant to the terms of this
Lease. Tenant shall pay all other Impositions directly to the taxing authority or authorities.

 

    6 

     

    

 

4-3           Contest. Tenant,
if it shall so desire, may contest the validity or amount of any Imposition, in which event, Tenant may defer the payment
thereof during the pendency of such contest. Nothing herein contained, however, shall be so construed as to allow such item
to remain unpaid for a length of time that permits the Premises or any part thereof, or the lien thereon created by such
Imposition to be sold for the nonpayment of the same. If title to the Premises or any pail thereof is so impaired or
jeopardized by such deferral of payment, Tenant shall deposit with Landlord an amount sufficient to pay such contested item
together with applicable interest and penalties, which amount shall be applied to the payment of such item when the amount
thereof shall be finally fixed and determined. If the amount so deposited shall exceed the amount of such payment, the excess
shall be paid to Tenant or, in case there shall be any deficiency, the amount of such deficiency shall be promptly paid by
Tenant to Landlord together with all interest, penalties or other charges accruing thereon.

 

4.4           Imposition
Reduction. Tenant may, if it shall so desire, without expense to Landlord, endeavor at any time to obtain a lowering of
an Imposition or assessment upon the Premises for the purpose of reducing the amount thereof. Tenant shall be authorized to collect
any refund payable as a result of any proceeding Tenant may institute for that purpose and any such refund shall be the property
of Tenant to the extent to which it may be based on a payment made by Tenant. Tenant hereby agrees to save Landlord harmless from
all costs, expenses, claims, loss or damage by reason of, in connection with, on account of, growing out of, or resulting from,
any such action or proceeding.

 

SECTION 5.         
INSURANCE

 

5.1            Tenant
Obligation to Insure. Tenant shall procure and maintain during the Term, at Tenant’s own cost and expense, insurance
against claims for injuries to persons or damages to property which may arise from or in connection with this Lease by the Tenant,
its agents, representatives, employees or contractors. The insurance requirements herein are minimum requirements for this Lease
and in no way limit the indemnity covenants contained in this Lease. Landlord in no way warrants that the minimum limits contained
herein are sufficient to protect the Tenant from liabilities that might arise out of this Lease for the Tenant, its agents, representatives,
employees or contractors and Tenant is free to purchase such additional insurance as may be determined necessary.

 

A.           Minimum
Scope and Limits of Insurance. Tenant shall provide coverage at least as broad and with limits of liability not less than
those stated below:

 

(i)            Commercial
General Liability – Occurrence Form

 

Policy shall include bodily injury, property damage,
hostile fire and contractual liability coverage.

 

	General Aggregate	 	$	5,000,000.00	 
	Products-Completed Operations Aggregate	 	$	5,000,000.00	 
	Personal & Advertising Injury	 	$	5,000,000.00	 
	Each Occurrence	 	$	5,000,000.00	 

 

The policy shall be endorsed to include the
following additional insured language: “Pinal County shall be named as an additional insured with respect to liability
arising out of the use and/or occupancy of the property subject to this Lease.”

 

    7 

     

    

 

(ii)           Pollution
Legal Liability

 

Policy shall include coverage for the following:

 

	On-Site and Off- Site Clean-up of new conditions	 	$	5,000,000.00	 
	Third Party Claims for On-Site and Off-Site	 	$	5,000,000.00	 
	BI and PD arising from new conditions	 	$	5,000,000.00	 
	Contractor’s Pollution Liability during Construction	 	$	5,000,000.00	 

 

The policy shall be endorsed to include the following
additional insured language: “Pinal County shall be named as an additional insured with respect to liability arising out
of the use and/or occupancy of the property subject to this Lease.”

 

(iii)          All
Risk or Special Form Property Insurance

 

Policy shall include business interruption and extra
expense coverage, and shall cover the full replacement cost of all property, equipment and improvements installed or placed in
the Premises by Tenant.

 

(iv)          Worker’s
Compensation

 

Policy with no less than the minimum limits required
by law if Tenant employs any employees in Arizona.

 

(v)            Employer’s
Liability

 

Policy with a minimum limit of not less than $1,000,000
per occurrence for Employers’ Liability.

 

B.            Other
Insurance Requirements. The policies are to contain, or be endorsed to contain, the following provisions:

 

(i)            Commercial
General Liability

 

(1)           Landlord,
its officers, officials, agents and employees are to be named as additional insureds with respect to liability arising out of
the use and/or occupancy of the Premises and activities performed by or on behalf of the Tenant; products and completed operations
of the Tenant.

 

(2)           The
Commercial General Liability Insurance shall include contractual liability coverage.

 

    8 

     

    

 

(3)           The
Tenant’s insurance coverage shall be primary insurance with respect to Landlord, its officers, officials, agents and employees.
Any insurance or self-insurance maintained by Landlord, its officers, officials or employees shall be in excess of the Tenant’s
insurance and shall not contribute to it.

 

(4)           The
Tenant’s insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect
to the limits of the insurer’s liability.

 

(5)           The
policies shall contain a waiver of subrogation against Landlord, its officers, officials, agents and employees for losses arising
from Tenant’s operations, occupancy and use of the Premises and/or other actions covered by Tenant’s insurance.

 

(ii)           Worker’s
Compensation and Employers’ Liability Coverage. The insurer shall agree to waive all rights of subrogation against Landlord,
its officers, officials, agents, employees and volunteers for any and all losses arising from Tenant’s operations, occupancy
and use of the Premises and/or other activities or actions covered by Tenant’s insurance.

 

(iii)          Builders
Risk Insurance (Course of Construction) and Property Insurance.

 

(1)           This
insurance shall be written on an all risk or special form.

 

(2)           All
rights of subrogation are hereby waived against Landlord, its officers, officials, agents and employees.

 

(3)           The
policies shall contain a standard loss payee clause naming Landlord as loss payee.

 

(4)            Builders’
Risk Insurance must provide coverage from the time any covered property becomes the Contractor’s responsibility, and continuing
without interruption during construction, renovation, or installation, including any time during which the covered property is
being transported to the construction installation site, and while on the construction or installation site awaiting installation.

 

C.            Notice
of Cancellation. For each insurance policy required by the insurance provisions of this Lease, the Tenant must provide to the
Landlord, within seven (7) business days of receipt, a notice if a policy is suspended, voided or cancelled for any reason.
Such notice shall be sent to Landlord at the address provided herein for the giving of notice. If such notice is delivered by use
of electronic mail (email) as permitted herein, it shall also be sent by certified mail, return receipt requested, within two (2) business
days thereafter.

 

D.            Acceptability
of Insurers. Insurance is to be placed with insurers duly licensed or approved unlicensed companies in the State of Arizona
and with a “Best’s” rating of not less than A-:VII. Landlord in no way warrants that the above required minimum
insurer rating is sufficient to protect the Tenant from potential insurer insolvency.

 

    9 

     

    

 

E.            Verification
of Coverage. Tenant shall furnish Landlord with Certificates of Insurance (ACORD form or equivalent) and with evidence of
endorsements effecting coverage as required by this Lease. The certificates for each insurance policy are to be signed by a person
authorized by that insurer to bind coverage on its behalf. Each insurance policy required by this Lease must be in effect at or
prior to commencement of the Term of this Lease and remain in effect for the duration of the Lease; provided, however, that with
respect to the first three coverages described in Section 5.1(A)(ii) (i.e., all coverages identified under Pollution
Legal Liability, except “Contractor’s Pollution Liability during Construction” which must be maintained at or
prior to commencement of the Term), such coverages need only be in effect prior to Tenant’s commencement of any vertical
improvements. Additionally, Tenant shall provide to Landlord any proof of insurance coverage obtained by Tenant from third party
contractors or others with respect to the Premises. Tenant has previously provided to Landlord a form of contract with a third
party contractor that requires said contractor to maintain certain minimum levels of insurance, and in the event Tenant elects
(in its sole discretion) to enter into a different form of construction contract, whether with the same contractor or a different
contractor, Tenant shall either contractually require its contractor to maintain the minimum insurance levels required under the
original construction contract which Landlord has previously reviewed, or Tenant shall be responsible for obtaining such insurance.

 

5.2           Blanket
Insurance. Nothing in this Lease shall prevent Tenant from obtaining insurance of a kind and in the amount provided for
under this Section 5 under a blanket insurance policy or policies which cover other properties owned or operated by
Tenant as well as the Premises; provided, however, that any such policy of blanket insurance of the kind provided for shall specify
therein, or Tenant shall furnish Landlord a written statement from the insurers under such policies specifying, the amount of the
total insurance allocated to the Premises, which amount shall be not less than the amount required herein. No blanket policy shall
contain any clause that would result in the insured thereunder being required or permitted to carry insurance with respect to the
property covered thereby in an amount less than the full insurable value of such property in order to prevent the insured therein
named from becoming a co-insurer of any loss with the insurer under such policy.

 

5.3           Risk
of Loss. At no time during the Term hereof, will Landlord be required to carry any insurance covering or affecting the
Premises, and Tenant assumes the risk of any loss, damage, or claims throughout the Term hereof.

 

5.4           Failure
to Maintain Insurance. If Tenant fails or refuses to provide a copy of the renewal insurance certificates, together with
evidence of payment of premiums therefor as required by Section 5, Landlord shall have the right, at Landlord’s
election, to procure and maintain such insurance. The premiums paid by Landlord shall be due and payable from Tenant to Landlord
on the first day of the month following the date on which the premiums were paid. Landlord shall give prompt notice of the payment
of such premiums, stating the amounts paid and the names of the insurer(s) and insured(s).

 

    10 

     

    

 

SECTION 6.       TITLE
TO IMPROVEMENTS

 

6.1          Title
to Improvements. During the Term, title to all Improvements on or to the Premises shall remain the property of Tenant.
All of Tenant’s furniture, equipment, trade fixtures, inventory, and other personal property which may be installed or placed
in or upon the Premises by Tenant (collectively, “Tenant’s Property”) shall remain the property of the
Tenant. Tenant may encumber or create a security interest in or upon Tenant’s Property without the consent of Landlord and may
remove Tenant’s Property at any time. Landlord shall provide to Tenant, within a reasonable time from Tenant request therefore,
a “Collateral Access Agreement” in form reasonably satisfactory to Tenant’s lender evidencing Landlord’s
waiver of any rights it has or may have in Tenant’s Property and affording Tenant’s lender access to Tenant’s
Property.

 

6.2          Improvements
at Expiration or Termination of Lease. Upon the expiration or earlier termination of this Lease without exercise by Tenant
of the Purchase Option, (i) Landlord shall own any then existing Improvements, and Tenant shall have no further interest in,
or responsibility for, the Improvements and (ii) Landlord’s and Tenant’s interest in any Escrowed Funds (as defined
in the Development Agreement) shall be as provided in the Escrow Agreement (as defined in the Development Agreement). In such event,
(A) Tenant promptly shall execute a quit claim deed, bill of sale or other instruments (without representation or warranty
by Tenant) reasonably requested by Landlord to confirm ownership in and possession of the Improvements by Landlord, provided, however,
no such additional instrument or document shall be required to convey ownership of the Improvements to Landlord and (B) Tenant
shall direct Escrow Agent and Contractor (each, as defined in the Development Agreement) to dispose of Escrowed Funds in accordance
with the Escrow Agreement.

 

6.3          Survival.
The provisions of this Section 6 shall survive the expiration or earlier termination of this Lease.

 

SECTION 7.       LANDLORD’S PERFORMANCE FOR TENANT

 

7.1          Cure
Rights. If Tenant fails to pay any Imposition or make any other payment required to be made to any third party pursuant
to this Lease, Landlord, without being under any obligation to do so and without thereby waiving such default, may make such payment
at the expense of Tenant. Bills for all such expenses and disbursements, together with interest at the rate of twelve percent (12%)
per annum from the respective dates of the Landlord’s making of each such payment, shall become due and payable as Additional
Payments within ten (10) days following Tenant’s receipt of an invoice therefor.

 

SECTION 8.       USES
AND MAINTENANCE

 

8.1          Absence
of Warranties. Tenant has leased the Premises after a full and complete examination thereof, as well as the title
thereto. Except as provided in Section 1 or Section 26 of this Lease, or the Development Agreement:
(a) Tenant accepts the same in the condition or state existing as of the Commencement Date without any representation or
warranty, express or implied in fact or by law, by Landlord and without recourse to Landlord, as to the title thereto, the
nature, condition, or usability thereof or the use or uses to which the Premises or any part thereof may be put;
(b) Landlord shall not be required to furnish any services or facilities or to make any repairs or alterations in or to
the Premises or to provide any off-site improvements, such as utilities or paving, or other forms of access to the Premises;
and (c) Tenant hereby assumes the full and sole responsibility for the condition, construction, operation, repair,
demolition, replacement, maintenance, and management of the Premises, including but not limited to the performance of all
burdens running with the land.

 

    11

     

    

 

8.2          Permitted
Uses. Tenant may use the Premises for any use subject to limitations and restrictions imposed by Applicable Laws, the Development
Agreement, this Lease and/or applicable land use restrictions affecting the Premises.

 

8.3          Maintenance,
Repairs. During the Term, Tenant shall maintain the Premises, make all repairs thereto, interior and exterior, structural
and nonstructural, ordinary and extraordinary, foreseen and unforeseen, and shall maintain and keep the adjacent sidewalks, curbs,
and landscaping in good and safe order, repair, and condition.

 

8.4          Improvements.
Tenant shall construct such improvements as may be required under the Development Agreement and may make such other Improvements
to the Premises as Tenant may deem appropriate in connection with Tenant’s operations on the Premises. Tenant shall obtain
any public approvals required for such Improvements as required by Applicable Laws.

 

8.5          Additional
Permitted Encumbrances. Landlord agrees, from time to time, to execute and deliver, as owner of the Premises (excluding
the Improvements), such utility and right-of-way easements to serve the Premises as Tenant may reasonably request and as are reasonably
necessary in the development, use, operation and maintenance of the Premises and the business conducted on the Premises. From and
after the Commencement Date, Landlord shall not execute or consent to the recordation of any covenants, restrictions, easements,
agreements, and reservations of record encumbering the Premises, other than Permitted Encumbrances and those requested by Tenant
under the preceding sentence.

 

8.6          Rail
Improvements.

 

A.           Rail
Crossing. Tenant shall construct a railroad crossing across Peters Road to serve the Premises (the “Rail Crossing”)
as and when necessary in connection with Tenant’s operation on the Premises; provided that Landlord and Tenant acknowledge
that a portion of the Rail Crossing may be constructed by Casa Grande pursuant to the Development Agreement. If the Rail Crossing
is completed during the Term, Tenant shall transfer the Rail Crossing to Landlord pursuant to a quit claim deed and bill of sale
(without representation or warranty by Tenant, but Tenant shall assign to Landlord, on a non-exclusive basis, any and all construction
or service warranties provided to Tenant by any contractor performing work with respect to the Rail Crossing) in form and substance
reasonably acceptable to Landlord and Tenant, and such Rail Crossing shall become part of the Premises, and shall be subject to
the Purchase Option.

 

B.            Escrow
Account. Landlord and Tenant acknowledge that CG Neighbor, LLC will deposit $402,119.00 in an escrow account
(the “Rail Crossing Escrow Account”) to be used for the construction of the Rail Crossing. The funds in
the Rail Crossing Escrow Account shall be disbursed to Tenant as and when construction of the Rail Crossing occurs to pay for
costs incurred to construct the Rail Crossing. If the cost to construct the Rail Crossing exceeds the amount deposited in the
Rail Crossing Escrow Account. Tenant shall be responsible for any excess costs, subject to Casa Grande’s obligations
with respect to the Rail Crossing under the Development Agreement.

 

    12

     

    

 

(i)            If,
upon completion of the Rail Crossing during the Term, any funds remain in the Rail Crossing Escrow Account, such funds shall be
disbursed to Tenant.

 

(ii)           If,
following commencement of construction, but prior to the completion of construction of the Rail Crossing, this Lease is terminated
other than pursuant to Section 16.2, any funds then in the Rail Crossing Escrow Account shall be disbursed to
Tenant.

 

(iii)          If,
prior to the completion of construction of the Rail Crossing, this Lease is terminated pursuant to Section 16.2,
any funds then in the Rail Crossing Escrow Account shall be disbursed to Landlord.

 

(iv)          If
Tenant exercises the Purchase Option, and regardless of whether construction of the Rail Crossing has commenced, all funds then
in the Rail Crossing Escrow Account shall be disbursed to Tenant.

 

(v)           If
construction is commenced during the Term, but not completed prior to the scheduled expiration of the Term set forth in Section 1.3,
funds in the Rail Crossing Escrow Account as of such Lease expiration date shall be disbursed to Tenant to pay for costs
incurred to construct the Rail Crossing prior to Lease expiration and any remaining funds shall be disbursed to Landlord;
provided that such remaining funds will be disbursed to Tenant if either (a) Tenant purchases the Premises pursuant to Section.25 at
Lease expiration or (b) Landlord is in default (beyond applicable notice and cure period) as of Lease expiration.

 

c.            Rail
Easements.

 

(i)            As
of the Commencement Date, Landlord hereby assigns to Tenant, and Tenant hereby accepts and assumes, during the term hereof all
of Landlord’s rights and obligations under or arising with respect to the following: (a) that certain Amended and Restated
Easement and Maintenance Agreement, effective on or about the Commencement Date, by and between Casa Grande and Landlord, a memorandum
of which is to be recorded in the Official Records of Pinal County, Arizona; (b) that certain Permanent Rail Easement by
and between Peters & Burris, L.L.C. and Auza Ranches, L.L.C., dated on or about December 15, 2008 and recorded on
December 18, 2008 in the. Official Records of Pinal County, Arizona, as Fee No. 2008-120493, which has been partially
assigned on a non-exclusive basis to Landlord pursuant to that certain Partial, Non-Exclusive Assignment of Permanent Rail Easement,
effective on or about the Commencement Date and to be recorded in the Official Records of Pinal County, Arizona; (c) that
certain Permanent Rail Easement by and between Peters & Burris, L.L.C. and San Carlos 198, L.L.C., dated on or about
..June 20, 2008 and recorded on July 24, 2008 in the Official Records of Pinal County, Arizona, as Fee No. 2008-069491,
which has been partially assigned on a non-exclusive basis to Landlord pursuant to that certain Partial, Non-Exclusive Assignment
of Permanent Rail Easement, effective on or about the Commencement Date and to be recorded in the Official Records of Pinal County.
Arizona: (d) that certain Access Easement Agreement, by and between Peters & Burris, L.L.C., Casa Grande Industrial
Corporation and Landlord, effective on or about the Commencement Date and to be recorded in the Official Records of Pinal County,
Arizona; and (e) that certain Assignment and Assumption of Easement and Maintenance Agreement, between Central Arizona Commerce
Park, LLC and Landlord (collectively, the “Rail Easements”).

 

    13

     

    

 

(ii)            Following
Tenant’s exercise of the Purchase Option, Landlord shall execute any assignments of the Rail Easements as may be reasonably
requested by Tenant.

 

(iii)            Upon
the expiration or earlier termination of this Lease without exercise by Tenant of Purchase Option, (a) Landlord’s assignment
of the Rail Easements pursuant to Section 8.6(C)(i) shall be deemed terminated
and of no further effect; and (b) Tenant shall execute any termination or assignment instrument as may be reasonably requested
by Landlord for the Rail Easements; provided, however, no such additional instrument or document shall be required for such assignment
to be deemed terminated and of no further effect.

 

8.7          Selma
Road Improvements. Landlord and Tenant acknowledge certain improvements for the extension of Selma road are to be constructed
by Casa Grande pursuant to the Development Agreement.

 

SECTION 9.        COMPLIANCE

 

9.1          Tenant
Obligations. Tenant shall comply with, at its own expense during the Term hereof, all Applicable Laws; provided, however,
that Tenant may, in good faith (and wherever necessary, in the name of, but without expense to and with the prior written permission
of, Landlord), contest the validity of any Applicable Laws and, pending the determination of such contest, may postpone compliance
therewith, except that Tenant shall not so postpone compliance therewith, as to subject Landlord to the risk of any fine or penalty
or to prosecute for a crime, or to cause the Premises or any part thereof to be condemned or to be vacated.

 

SECTION 10.     IMPAIRMENT
OF TITLE

 

10.1        No
Liens. Tenant shall not create, or suffer to be created or to remain, and shall discharge any mechanic’s, laborer’s,
or materialman’s lien that might be or become a lien, encumbrance, or charge upon the Premises or any part thereof or the
income therefrom and Tenant will not suffer any other matter or thing arising out of Tenant’s use and occupancy of the Premises
whereby the estate, rights, and interests of Landlord in the Premises or any part thereof might be impaired.

 

10.2        Discharge.
If any mechanic’s, laborer’s, or materialman’s lien shall at any time be filed against the Premises or any part
thereof, Tenant, within thirty (30) days after Tenant receives notice of the filing thereof, shall either: (a) cause such
lien to be discharged of record by payment, deposit, bond, order of court of competent jurisdiction or otherwise; or (b) pay
such amount as is necessary to satisfy such lien and cooperate with Landlord’s efforts to formally cause same to be discharged
of record.

 

    14

     

    

 

10.3        No
Agency Intended. The Parties agree that Tenant is not the agent of Landlord for the construction, alteration or repair
of any improvement Tenant may construct upon the Premises, the same being done at the sole expense of Tenant.

 

SECTION 11.     ENTRY

 

11.1        Entry.
Landlord shall have the right to enter upon the Premises, or any part thereof, for the purpose of ascertaining their condition
or whether Tenant is observing and performing the obligations assumed by it under this Lease, provided that such entry does not
interfere with Tenant’s business operations and provided that Landlord shall give Tenant at least forty-eight (48) hours
written notice prior to any such inspection and the opportunity to have a representative present. Landlord entry shall be subject
to Tenant’s reasonable restrictions for safety, security and protection of proprietary and confidential information. Landlord
shall have the right to enter upon the Premises, but not any vertical improvements at the Premises, at all reasonable times and
with no advance notice in the case of an emergency representing imminent danger to health, safety or welfare; provided that Landlord
shall provide prompt notice to Tenant of such emergency entry.

 

SECTION 12.     INDEMNIFICATION

 

12.1        Indemnifications
of Landlord.

 

A.            To
the extent permitted by law, Tenant shall indemnify and save Landlord harmless from and against any and all liabilities,
suits, obligations, fines, damages, penalties, claims, costs, charges and expenses, including property damage, personal
injury and wrongful death and further including, without limitation, reasonable attorney's fees and disbursements
(collectively “Claims”), which may be imposed upon or incurred by or asserted against Landlord by reason
of any of the following occurring during the Term:

 

(i)            construction
of any Improvements or any other work or thing done in, on or about the Premises or any part thereof by Tenant or its agents;

 

(ii)           any
use, nonuse, possession, occupation, alteration, repair, condition, operation, maintenance or management of the Premises or Improvements
or any nuisance made or suffered thereon or any failure by Tenant to keep the Premises or Improvements or any part thereof, in
a safe condition;

 

(iii)          the
acts of Tenant or any subtenant or any of its or their respective agents, contractors, servants, employees, licensees or invitees;

 

(iv)          any
accident, injury, or damage to any person or property occurring in or upon the Premises or any part thereof; or

 

(v)           any
failure on the part of Tenant to pay rent or to perform or comply with any of the covenants, agreements, terms or conditions contained
in this Lease on its part to be performed or complied with and the exercise by Landlord of any remedy provided in this Lease with
respect thereto.

 

    15

     

    

 

12.2        Indemnifications
of Tenant. To the extent permitted by law, Landlord shall indemnify and save Tenant harmless from and against any and all
Claims which may be imposed upon or incurred by or asserted against Tenant by reason of any of the negligence or willful misconduct
of Landlord, its agents or employees or a failure to act by the Landlord, its agents or employees.

 

12.3        Provisions
Related to Indemnification The following provisions shall apply to any Party obligated to indemnify (the “Indemnifying
Party”) the other Party (the “Indemnified Party”) under this Section 12:

 

A.           The
obligations of the Indemnifying Party under this Section 12 shall not in any way be affected by the absence
in any case of covering insurance or by the failure or refusal of any insurance carrier to perform any obligation on its part to
be performed under insurance policies affecting the Premises.

 

B.            If
any claim, action or proceeding is made or brought against the Indemnified Party by reason of any event to which reference is made
in this Section, then, upon demand by the Indemnified Party, the Indemnifying Party, at its sole cost and expense, shall resist
or defend such claim, action or proceeding in the Indemnified Party’s name, if necessary, by the attorneys for the Indemnifying
Party’s insurance carrier (if such claim, action or proceeding is covered by insurance), otherwise by such attorneys as the
Indemnified Party shall approve, which approval shall not be unreasonably withheld, conditioned or delayed.

 

C.            The
Indemnifying Party’s obligations to indemnify, defend and save an Indemnified Party harmless shall not
extend to Claims to the extent caused by the negligence or willful misconduct of the Indemnified Party, its agents or
employees.

 

D.           The
provisions of this Section 12 shall survive the expiration or earlier termination of this Lease.

 

SECTION 13.     DAMAGE OR DESTRUCTION

 

13.1        Tenant
Repair and Restoration. In the event any portion of the Premises is damaged by fire or any other peril, Tenant, at its
sole election, either (a) shall promptly commence and proceed diligently with the work of restoring the same, or (b) shall
remove the damaged portion of such Improvements together with all rubble and debris related thereto; provided, however, that Tenant
shall have the right to thereafter reconstruct the damaged portion of such Improvements at any time during the Term. Portions of
the Premises on which Improvements are not reconstructed following a casualty shall be graded to the level of the adjoining property.
In any event, (i) if Tenant elects to reconstruct any damage to the Improvements, Tenant shall be entitled to do so in its
sole discretion, subject to the provisions of this Lease, and (ii) whether or not Tenant elects to reconstruct any damage
to the Improvements, Tenant shall be entitled to receive any and all insurance proceeds payable pursuant to such casualty.

 

13.2        Lease
Obligations Continue. In no event shall Tenant be entitled to any abatement, allowance, reduction, or
suspension of rent because part or all of the Premises shall be untenantable owing to the partial or total destruction
thereof. No such damage or destruction shall affect in any way the obligation of Tenant to pay the Net Rent, Additional
Payments, and other charges herein reserved or required to be paid, or release Tenant of or from obligations imposed upon
Tenant hereunder.

 

    16

     

    

 

SECTION 14.     CONDEMNATION

 

14.1        Total,
Substantial or Unusable Remainder. If at any time during the Term of this Lease (a) title to the whole or substantially
all of the Premises shall be taken in condemnation proceedings or by any right of eminent domain or by agreement in lieu of such
proceedings, this Lease shall terminate and expire on the date of such taking, and the Net Rent and Additional Payments reserved
shall be apportioned and paid to the date of such taking, or (b) title to a substantial portion of the Premises shall be taken
in condemnation proceedings or by any right of eminent domain or by agreement in lieu of such proceeding, and the remaining part
of the Premises cannot reasonably be used or converted for Tenant’s intended use of the Premises, Tenant may, at its option,
terminate this Lease within ninety (90) days after such taking by serving upon Landlord at any time within said ninety (90) day
period, a thirty (30) day written notice of Tenant’s election to so terminate accompanied by a certificate of Tenant that
the remaining part of the Premises cannot reasonably be used or converted for use by Tenant. In the event of such taking and the
termination of this Lease, the award shall be divided as follows: (i) Tenant shall receive from that portion of the award
attributable to the value of the Premises (excluding the Improvements) an amount equal to the lesser of (i) the then fair
market value of Tenant’s leasehold interest in the Premises (excluding the Improvements) and (ii) the award; (ii) Landlord
shall receive the remainder, if any, of that portion of the award attributable to the value of the Premises (excluding the Improvements);
and (iii) Tenant shall receive that portion of the award attributable to the then fair market value of the Improvements.

 

14.2         Partial
Taking-Lease Continues. In the event of any such taking of less than the whole or substantially all of the Premises and,
if such taking is not of the character described in Section 14.1 (or if such taking is of such character and
the option of Tenant to terminate this Lease is not exercised), the Term of this Lease shall not be reduced or affected in any
way, and the award or awards (herein sometimes referred to as “Condemnation Proceeds”) shall be deposited with
Landlord for disbursement to Tenant pursuant to this Lease.

 

A.           Restoration.
Tenant, shall promptly commence and proceed diligently with the work of restoring the remainder of the Premises to the extent Tenant
reasonably believes is required for Tenant’s use following the condemnation event. Such repairs, alterations, or restoration,
including such changes and alterations as described in this Section 14.2 and including temporary repairs, or
the protection of other property pending the completion of any thereof, are sometimes referred to in this Section as the “Work.”

 

B.            Payment
of Condemnation Proceeds. Landlord shall hold, apply, make available and pay over to Tenant the Condemnation Proceeds for payment
of the costs of the Work. Upon the completion and payment of the cost of the Work, the remaining balance of the Condemnation Proceeds
shall be paid to Landlord (such amount, the “Condemnation Purchase Price Credit”).

 

    17

     

    

 

C.            Reduction
of Net Rent. The Net Rent payable for that part of the balance of the Term hereof occurring prior to the termination of
the Lease, shall be equitably adjusted based on the remaining square footage of leased Premises. Until the amount of the Net
Rent payable under shall have been ascertained, Tenant shall continue to pay to Landlord during the interim period the Net
Rent, and Additional Payments as herein provided. If the Net Rent paid during such interim period shall exceed the amount of
the Net Rent as thereafter ascertained, within thirty (30) days after the amount of such Net Rent shall have been
ascertained, the amount thereof shall be credited by Landlord to Tenant’s next occurring rental payment(s).

 

14.3        Rights
of Participation. Each Party shall have the right, at its own expense, to appear in any condemnation proceeding and participate
in any and all hearings, trials, and appeals therein.

 

14.4        Notice
of Proceeding. In the event Landlord or Tenant shall receive notice of any proposed or pending condemnation proceedings
affecting the Premises, the Party receiving such notice shall promptly notify the other Party of the receipt and contents thereof.

 

SECTION 15.     ASSIGNMENT,
SUBLETTING, MORTGAGE

 

15.1        Assignments.

 

A.           Tenant
shall not assign, mortgage, pledge, encumber or in any manner transfer this Lease or any part thereof, without the prior written
consent of Landlord in each instance, which shall consent shall not be unreasonably, withheld, conditioned or delayed. This covenant
shall not apply to the subletting of the Premises, any leasing of any part or parts thereof or of any Improvements, or any leasing
of space for occupancy in accordance with this Lease. The prohibition shall not be applicable to any assignment to an Affiliate
of Tenant. This prohibition shall not be deemed to prevent the granting of easements or permits to facilitate the development of
the Premises. The provisions of this Section shall not prohibit the granting of any security interests for development of
the Premises as long as the fee title remains unencumbered.

 

B.            Every
assignee, whether as assignee or as successor in interest of any assignee of Tenant herein named or as assignee of the Permitted
Mortgagee, or as successor in interest of any assignee, including any purchaser of the Lease under a foreclosure of the Permitted
Mortgage, shall immediately be and become and remain liable for the payment of Net Rent and Additional Payments, and for the due
performance of all the covenants, agreements, terms, and provisions hereof on Tenant’s part to be performed to the end of
the Term hereof, except as hereinafter provided in this Section, and every provision of this Lease applicable to Tenant shall apply
to and bind every such assignee and purchaser with the same force and effect as though such assignee or purchaser were the Tenant
named in this Lease. No transfer to such assignee or to such purchaser shall be binding upon Landlord unless such assignee or purchaser
shall deliver to the Landlord a recordable instrument which contains a covenant of assumption by said assignee or purchaser to
such effect, but the failure or refusal of such assignee or purchaser to deliver such instrument shall not release or discharge
such assignee or purchaser from its obligations and liability as above set forth.

 

C.           Any
consent by Landlord herein contained or hereafter given to any act of assignment, shall be held to apply only to the specific
transaction hereby or thereby approved. Such consent shall not be construed as a waiver of the duty of Tenant, or its
successors or assigns, to obtain Landlord’s consent to any other or subsequent assignment, or as a modification or
limitation of the right of Landlord with respect to the foregoing covenant by Tenant.

 

    18

     

    

 

15.2        Subleases.
Tenant may sublease portions of the Premises in the normal course of Tenant’s business for occupancy, subject to the rights
of Landlord, and neither the consent of Landlord nor the assumption of this Lease shall be required in connection with such renting
or subleasing if all of the conditions set forth below are satisfied. Any Sublease shall be subject and subordinate to this Lease
and the rights of Landlord hereunder and each such sublease shall provide that, in the event this Lease (or any new lease made
pursuant to Section 15.3D) is terminated, the subtenant will attorn to Landlord if Landlord shall
accept such attornment upon such termination.

 

15.3        Permitted
Mortgages.

 

A.           During
the Term, Tenant shall have the ability to obtain and refinance any loans secured by the Permitted Mortgage, but any such loan
transactions shall not be secured by liens on Landlord’s fee interest in the Premises. The refinanced loans may be secured
by liens on Tenant’s leasehold interest under the Lease and shall be considered Permitted Mortgages if Landlord receives
a written request from Tenant and Permitted Mortgagee to provide such status pursuant to the terms of this Lease. Landlord will
enter into an agreement with Permitted Mortgagee acknowledging the applicability of the terms relating to Permitted Mortgages and
Permitted Mortgagee, including the terms of Section 15.1B. During the Term, Tenant is responsible for notifying
Landlord of any change in the identity of a Permitted Mortgagee.

 

B.            So
long as the Permitted Mortgage shall remain a lien on Tenant’s leasehold estate hereunder and Landlord has received a written
request to provide the notification required by the terms of this Lease, Landlord agrees, simultaneously with the giving of any
notice required by Section 16 to Tenant (i) of default, or (ii) of a termination hereof, to give duplicate
copies thereof or of any process in any action or proceeding brought to terminate or to otherwise in any way affect this Lease,
to the Permitted Mortgagee, and no such notice to Tenant or process shall be effective unless a copy of such notice is given to
the Permitted Mortgagee in the manner herein provided. Concurrently with Tenant, the Permitted Mortgagee will have the same period
after receipt of the aforesaid notice by Tenant to remedy the default or cause the same to be remedied, and Landlord agrees to
accept such performance on the part of the Permitted Mortgagee as though the same had been done or performed by Tenant.

 

C.            Landlord
will take no action to effect a termination of this Lease by reasons of any default without first giving a reasonable time (which
time may run concurrently with any applicable Tenant notice and cure periods) within which either (i) to obtain possession
of the Premises (including possession by a receiver) and thereafter to cure such default if the default is one that can be cured
with the exercise of reasonable diligence by the Permitted Mortgagee, or (ii) to institute foreclosure proceedings and to
complete such foreclosure, or otherwise to acquire Tenant’s interest under this Lease with diligence and without unreasonable
delay in the case of a default which cannot be cured with the exercise of reasonable diligence by the Permitted Mortgagee. The
Permitted Mortgagee shall not be required to continue such foreclosure proceedings if the default shall be cured by Tenant; provided,
further, that nothing herein shall preclude Landlord from exercising any rights or remedies under this Lease with respect to any
other default by Tenant during any period of such forbearance.

 

    19

     

    

 

D.           If
this Lease is terminated prior to its stated expiration date. Landlord agrees that it will give the Permitted Mortgagee notice
of such termination and will enter into a new lease of the Premises with the Permitted Mortgagee or, at the request of the Permitted
Mortgagee, with Permitted Mortgagee’s assignee, designee, or nominee for the remainder of the Term effective as of the date
of such termination, upon the same covenants, agreements, terms, provisions, and limitations herein contained, provided: (i) the
Permitted Mortgagee makes written request upon Landlord for such new lease within thirty (30) days after the Landlord’s giving
notice of termination and such written request is accompanied by payment to Landlord of all amounts then due to Landlord of which
Landlord shall have given the Permitted Mortgagee notice, (ii) the Permitted Mortgagee pays or causes to be paid to Landlord
at the time of the execution and delivery of such new lease any and all additional sums which would at the time of the execution
and delivery thereof be due under this Lease but for such termination and pays or causes to be paid any and all expenses, including
reasonable attorney’s fees, court costs, and costs and disbursements incurred by Landlord in connection with any such termination
and in connection with the execution and delivery of such new lease, less the net income from the Premises collected by Landlord
subsequent to the date of the termination of this Lease and prior to the execution and delivery of such new lease. The provisions
of this Section shall survive the termination of this Lease and shall continue in full force and effect thereafter to the
same extent as if this Section were a separate and independent contract among Landlord, Tenant, and Permitted Mortgagee.

 

SECTION 16.     DEFAULT BY TENANT

 

16.1        Events
of Default. The happening of any one of the following events (each, an “Event of Default”) shall be
considered a material breach and default by Tenant under this Lease:

 

A.           Monetary
Default. If default shall be made in the due and punctual payment of any Net Rent or Additional Payments within ninety
(90) days after delivery of written notice specifying such default (“First Notice”) to Tenant (a “Monetary
Default”); or

 

B.            Non-Monetary
Default. If default shall be made by Tenant in the performance of or compliance with any of the covenants, agreements,
terms, limitations, or conditions hereof other than those referred to in the foregoing subsection (A), and such default shall continue
for a period of one hundred eighty (180) days after delivery of First Notice to Tenant, provided, that if Tenant proceeds with
due diligence during such one hundred eighty (180) period to substantially cure such default and is unable by reason of the nature
of the work involved, Tenant’s time to do so shall be extended by the time reasonably necessary to cure the same; or

 

C.            Bankruptcy,
Voluntary. If Tenant shall file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent, or
shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution
or similar relief for itself under any present or future federal, state, or other statute, law or regulation, or if Tenant shall
seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial
part of its properties, or shall make any general assignment for the benefit of creditors; or

 

D.           Bankruptcy, Involuntary.
If a petition shall be filed against Tenant seeking any reorganization, arrangement, composition, readjustment, liquidation,
dissolution or similar relief under any present or future federal, state, or other statue, law or regulation, and shall
remain undismissed or unstayed for one hundred eighty (180) days, or if any trustee, receiver or liquidator of Tenant, or of
all or substantial part of its properties, shall be appointed without the consent or acquiescence of Tenant and such
appointment shall remain unvacated and unstayed for one hundred eighty (180) days.

 

    20

     

    

 

16.2          Notice
and Termination for Monetary Default. Upon the occurrence of one or more Monetary Default, Landlord at any time thereafter,
but not after such default is cured, may give written notice (“Second Notice”) to Tenant specifying such Event(s) of
Default and stating that this Lease and the Term hereby demised shall expire and terminate on the date specified in such notice,
which shall be at least thirty (30) days after the giving of such Second Notice, subject to the provisions of Section 15.9,
this Lease and the Term hereby demised and all rights of Tenant under this Lease shall expire and terminate as though such date
were the date originally set forth herein for the termination hereof. Landlord shall have no right to terminate on account of any
default that is not a Monetary Default.

 

16.3          No
Implied Waivers. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term or condition
hereof or to exercise any right or remedy consequent upon a breach hereof, and no acceptance of full or partial rent during the
continuance of any such breach, shall constitute a waiver of any such breach or of such covenant, agreement, term or condition.
No covenant, agreement, term or condition hereof to be performed or complied with by Landlord or Tenant, and no breach thereof,
shall be waived, altered or modified, except by a written instrument executed by the party to be charged therewith. No waiver of
any breach shall affect or alter this Lease, but each and every covenant, agreement, term, limitation and condition hereof shall
continue in full force and effect with respect to any other then existing or subsequent breach hereof.

 

16.4          Remedies
Cumulative; Limitation on Damages. In the event of any breach by Tenant of any of the covenants, agreements, terms or conditions
hereof, Landlord, in addition to any and all other rights, shall be entitled to enjoin such breach and shall have the right to
invoke any right and remedy allowed at law or in equity or by statute or otherwise for such breach. In the event of Tenant’s
failure to pay Net Rent or Additional Payments on the date when due, Tenant shall pay Landlord interest on any such overdue payments
and associated late charges at the rate of twelve percent (12%) per annum, but in no event an amount greater than permitted under
Applicable Laws, but this shall in no way limit any claim for damages for Landlord for any breach or default by Tenant. Notwithstanding
the foregoing, the Parties agree that Landlord’s right to terminate the Lease following a breach shall be limited to Monetary
Defaults as set forth in Section 16.2.

 

SECTION 17.       DEFAULT BY LANDLORD

 

17.1          Limitations
of Landlord’s Liability The term “Landlord,” as used herein, so far as Landlord’s covenants and
agreements hereunder are concerned, shall be limited to mean and include only the owner of the fee title to the Premises. In the
event of any breach by Landlord of any of the covenants, agreements, terms, or conditions hereof. Tenant, in addition to any and
all other rights, shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law
or in equity or by statute or otherwise for such breach.

 

    21 

     

    

 

SECTION 18.       UNENFORCEABLE TERMS

 

18.1          Provisions
Severable. If any term or provision hereof or the application thereof to any person or circumstances shall, to any extent,
be invalid or unenforceable, the remainder of this Lease, or the application of such term or provision to persons or circumstances
other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision hereof
shall be valid and be enforced to the fullest extent permitted by law.

 

SECTION 19.       NOTICES

 

19.1          Notices.
Except as otherwise required by law, any notice, demand or other communication given hereunder shall be in writing and shall be
deemed to have been given, received and become effective: (a) if given by personal delivery, on the date of personal delivery;
(b) if delivered by any nationally recognized express or overnight delivery service (e.g., FedEx or UPS), on the next business
day if designated for next day delivery; (c) if sent by electronic mail (email), on the date of delivery, provided that notice
shall also be delivered within two (2) business days by another method permitted under this Section; or (d) if mailed
to the party by certified mail, postage prepaid, return receipt requested, on the date that is three (3) days after deposit
in the mail. Notices shall be addressed as follows:

 

	Landlord:	Pinal County
	 	135 N. Pinal Street
	 	Administrative Complex
	 	PO Box 827
	 	Florence, Arizona 85132
	 	Attention: County Manager
	 	Email: gregory.stanley@pinalcountyaz.gov
	 	 
	with a copy to:	Pinal County
	 	135 N. Pinal Street
	 	Administrative Complex
	 	PO Box 827
	 	Florence, Arizona 85132
	 	Attention: County Attorney
	 	Email: pinalcountyattorney@pinalcountyaz.gov
	 	 
	Tenant:	Atieva USA, Inc., d/b/a Lucid Motors USA, Inc.
	 	7500 Gateway Blvd.
	 	Newark, CA 94560
	 	Attention: Peter Hasenkamp and Legal Department
	 	Email: peterhasenkamp@lucidmotors.com; and
	 	legal@lucidmotors.com

 

    22 

     

    

 

	with a copy to:	Snell & Wilmer L.L.P.
	 	One Arizona Center
	 	400 E. Van Buren
	 	Phoenix, AZ 85004-2202
	 	Attention: Jody K. Pokorski
	 	Fax No.: 602-382-6070
	 	Email: jpokorski@swlaw.com

 

Each Party may by notice in writing change its address for the
purpose of this Lease, which address shall thereafter be used in place of the former address. Notwithstanding the foregoing, no
payment shall be deemed to be made until actually received in good and available funds by the intended payee.

 

SECTION 20.       QUIET ENJOYMENT

 

20.1          Quiet
Enjoyment. Subject to all of the conditions, terms, and provisions contained in this Lease, Landlord covenants that Tenant
shall quietly have and enjoy the Premises during the Term hereof, without hindrance or molestation by Landlord.

 

SECTION 21.       ESTOPPEL

 

21.1          Estoppel
Certificates. Landlord or Tenant may request, a certificate evidencing whether or not: (A) the Lease is in full force
and effect along with the amount and current status of the Net Rent and Additional Payments due hereunder; (B) the Lease has
been modified or amended in any respect or describing such modifications or amendments, if any; and (C) there are any existing
defaults thereunder to the knowledge of the Party executing the certificate, and specifying the nature of such defaults, if any.
The Party from whom an estoppel certificate is being sought shall respond to the requesting Party within thirty (30) days.

 

SECTION 22.       CONSENTS

 

22.1          No
Unreasonable Withholding. Wherever in this Lease the consent or approval of either Party is required, such consent or approval
shall not be unreasonably withheld, conditioned or delayed, except where otherwise specifically provided.

 

SECTION 23.       LIMITATION OF LIABILITY

 

23.1          Landlord.
No Pinal County Supervisor or Landlord official representative, agent, attorney or employee shall be personally liable to Tenant,
in the event of any default or breach by Landlord or for any amount which may become due to Tenant, or with respect to any obligation
of Landlord.

 

23.2          Tenant.
The liability of Tenant under this Lease shall be limited solely to the Tenant’s interest in the Premises and Improvements
and shall not extend to or be enforceable against: (i) the individual assets of any of the individuals or entities who are
shareholders, members, managers, constituent partners, officers or directors of the general partners, managers or members of Tenant;
or (ii) the officers, shareholders, members or managers or constituent partners of Tenant.

 

    23 

     

    

 

SECTION 24.       MISCELLANEOUS

 

24.1          Development
Agreement. This Lease is subject to the provisions of, and is made pursuant to, the Development Agreement.

 

24.2          Right
of Cancellation. All Parties hereto acknowledge that this agreement is subject to cancellation by Landlord pursuant to
the provisions of A.R.S. § 38-511.

 

24.3          Choice
of Law. This Lease shall be construed and enforced in accordance with the laws of the State of Arizona.

 

24.4          Memorandum.
Tenant agrees to execute the form of memorandum of this Lease in substantially the form attached hereto as Exhibit D,
and Landlord agrees to record the memorandum in the Office of the County Recorder, Pinal County, Arizona.

 

24.5          Entire
Agreement. This Lease, its exhibits and the Development Agreement contain the entire agreement between Landlord and Tenant
concerning the rental of and development of the Premises, and any executory agreement hereafter made between Landlord and Tenant
shall be ineffective to change, modify, waive, release, discharge, terminate, or effect an abandonment of this Lease, in whole
or in part, unless such executory agreement is in writing and signed by the Party against whom enforcement of the change, modification,
waiver, release, discharge, termination, or the effect of the abandonment is sought.

 

24.6          Captions.
The captions of Sections in this Lease are inserted only as a convenience and for reference and they in no way define, limit or
describe the scone of this Lease or the intent of any provision thereof. References to Section numbers are to those in this
Lease unless otherwise noted.

 

24.7          Singular
and Plural, Gender. If two or more persons, firms, corporations, or other entities constitute either the Landlord or the
Tenant, the word “Landlord” or the word “Tenant” shall be construed as if it reads “Landlords”
or “Tenants” and the pronouns “it,” “he,” and “him” appearing herein shall be construed
to be the singular or plural, masculine, feminine, or neuter gender as the context in which it is used shall require.

 

24.8          Exhibits
and Incorporation. The following exhibits, which are attached hereto or are in the possession of the Landlord and Tenant,
are incorporated herein by reference as though fully set forth:

 

	Exhibit “A”	Legal Description
	Exhibit “B”	Environmental Obligations
	Exhibit “C”	Permitted Encumbrances
	Exhibit “D”	Memorandum of Lease
	Exhibit “E”	Special Warranty Deed

 

24.9          Time
of Essence. Time is of the essence in the performance of each and every provision of this Lease.

 

    24 

     

    

 

24.10        Unavoidable
Delay; Extension of Time of Performance. In addition to specific provisions of this Lease, performance by any Party hereunder
shall not be deemed to be in default where delays or defaults are due to any Force Majeure Event. Performance by Tenant shall not
be deemed in default where delays are defaults are due to delays in granting of governmental approvals contemplated by the Development
Agreement or this Lease. An extension of time for any such cause shall be one day for each day during the continuance of any Force
Majeure Event. Each of Landlord and Tenant shall inform the other of the occurrence of a Force Majeure Event where an extension
of time is claimed. In addition to automatic extensions for Force Majeure Events, Landlord may extend time for performance for
up to a total of sixty (60) days upon good faith showing by Tenant of the need for such extension. “Force Majeure Event”
means any event which prohibits or materially interferes with, delays or alters the performance of the applicable duty under this
Lease, including, but not limited to the following: strikes or lockouts; unanticipated shortages of material or labor (excluding
those caused by lack of funds); acts of the public enemy; confiscation or seizure by any government or public authority; injunction,
restraining order or other court order or decree, initiative or referendum action; wars or war-like action (whether actual and
pending or expected, and whether de jure or de facto); blockades; insurrections; riots; civil disturbances; and acts of God; but
excluding delays caused by lack of funds. The provisions of this Section shall not apply to nor operate to excuse Tenant from
the payment of Net Rent or any other payments to be made in accordance with the terms of this Lease.

 

24.11        No
Boycott of Israel. As required by A.R.S. § 35-393.01, Tenant is not engaged in a boycott of Israel as of the Effective
Date, and will not engage in a boycott of Israel during the Term.

 

SECTION 25.       OPTION TO PURCHASE

 

25.1          Option
to Purchase. Landlord hereby grants to Tenant the exclusive option to purchase the Premises (“Purchase Option”),
according to the terms and conditions hereinafter set forth.

 

25.2          Option
Period. The Purchase Option granted herein shall become effective as of the Commencement Date, and Tenant shall have the
right to exercise the Purchase Option hereunder by delivering written notice of exercise (the “Option Notice”)
to Landlord at any time prior to the expiration of the Term of the Lease (“Option Period”). If Tenant has not
delivered the Option Notice on or before the one hundred eightieth (180th) day prior to the expiration of the Term of
the Lease, Landlord shall deliver notice to Tenant stating that Landlord has not received the Option Notice. Tenant’s Option
Notice shall set forth a date for conveyance of the Premises pursuant to the Option (the “Closing”), which date
shall be no later than the last day of the Term and coincide with a contemplated defeasance date for the Bonds.

 

25.3          Conveyance
of Premises.

 

A.            Purchase
Price.

 

(i)            Landlord
and Tenant acknowledge that (i) a portion of the proceeds from the issuance of Landlord’s Pledged Revenue
Obligations, Series 2018 (the “Bonds”) will be used by Landlord to acquire the Initial Premises and
to pay for Approved Landlord Costs and (ii) Net Rent payments under this Lease may be less than the aggregate amount of
payments due to the holders of the Bonds during the Term.

 

    25 

     

    

 

(ii)           The
 “Purchase Price” for the Premises shall be calculated as the Applicable Bond Retirement Amount, plus the Rent
Shortfall, plus the Accrued Net Rent, less any Condemnation Purchase Price Credit, less any Reserve Credit. For purposes of this
calculation:

 

(1)            “Accrued
Net Rent” means the Net Rent accrued, but not paid as of the Closing.

 

(2)            “Applicable
Bond Retirement Amount” means the product of (a) the Applicable Percentage multiplied by (b) the Bond Retirement
Amount.

 

(3)            “Applicable
Percentage” means a percentage determined by dividing (a) the portion of the proceeds of the Bonds used to acquire
the Initial Premises and pay Approved Landlord Costs by (b) total proceeds of the Bonds.

 

(4)            “Approved
Landlord Costs” means Landlord’s reasonable and actual costs and expenses related to the transactions contemplated
in this Lease and the Development Agreement, including: (a) any debt service reserve fund for the Bonds; (b) costs for
updating any ALTA land survey, Phase I environmental report and appraisal, all to the extent previously requested by Tenant; and
(c) one-third (1/3) of the costs incurred by Landlord to engage outside counsel with respect to the transactions contemplated
in this Lease and the Development Agreement, provided, however, that in any case such amount shall be capped at $40,000. Costs
and expenses incurred in completing the Environmental Obligations (defined below) are expressly excluded from Approved Landlord
Costs.

 

(5)            “Bond
Retirement Amount” means the sum of all actual costs and expenses of whatever type or kind incurred by Landlord relating
to defeasance or retirement of the Bonds.

 

(6)            “Bond
Servicing Costs” mean the product of (a) the Applicable Percentage multiplied by (b) actual out-of-pocket costs
paid by Landlord as debt service on the Bonds prior to Closing.

 

(7)            “Condemnation
Purchase Price Credit” shall be as defined in Section 14.2B.

 

(8)            “Reserve
Credit” means the amount of any

 

reserves or other funds held for the benefit of Landlord
or the issuer of the Bonds and not yet credited as of Closing, including, without limitation, any debt service reserve fund included
in Approved Landlord Costs.

 

    26 

     

    

 

(9)            “Rent
Shortfall” means the Bond Servicing Costs less Net Rent paid under the Lease prior to Closing.

 

B.            Landlord’s
Calculation. Promptly following delivery of the Option Notice, Landlord shall deliver notice to Tenant setting forth Landlord’s
calculation of the Purchase Price (“Landlord’s Calculation”), together with reasonable evidence of the
Applicable Bond Retirement Amount, Applicable Percentage, Approved Landlord Costs, Bond Retirement Amount, Bond Servicing Costs,
current Rent Shortfall and any Condemnation Purchase Price Credit.

 

C.            Calculation
of Purchase Price. If Tenant objects to Landlord’s Calculation, Landlord and Tenant shall confer to determine the
Purchase Price on or prior to Closing. If Landlord and Tenant are unable to agree upon the Purchase Price calculation prior to
Closing, the Purchase Price shall be deemed to be as set forth in Landlord’s Calculation; provided that the Purchase Price
may be reconciled post-Closing based on the documented Applicable Bond Retirement Amount, Applicable Percentage, Approved Landlord
Costs, Bond Retirement Amount, Bond Servicing Costs, Rent Shortfall and any Condemnation Purchase Price Credit.

 

D.            Accounting.
Landlord agrees to maintain books and records for the components of the Purchase Price for two (2) years following the Closing.
Tenant, or Tenant’s designee, at its sole cost and expense, upon prior written notice and during regular business hours
at a time and place reasonably designated by Landlord (which may be the location where Landlord maintains the applicable records),
inspect Landlord’s records relating to the Purchase Price. Survival. The rights and obligations for reconciliation
of the Purchase Price shall survive Closing and the expiration or earlier termination of this Lease for a period of two (2) years
following the Closing.

 

E.            Conveyance
of Title and Delivery of Possession. Landlord and Tenant agree to perform all acts and execute all documents necessary
for conveyance in sufficient time for the Premises and Improvements thereon (including all of Landlord’s interest in this
Lease) to be conveyed to Tenant, or Tenant’s designee, within ninety (90) days after delivery of the Option Notice, but
in no event later than the expiration of the Term. Landlord’s entire interest in the Premises (including any rights or claims
with respect to any pending condemnation and any rights or claims with respect to property insurance proceeds) shall be conveyed
by special warranty deed, in the form attached hereto as Exhibit E (the “Special Warranty Deed”).
The Premises shall be conveyed subject only to the Permitted Encumbrances and any additional encumbrances permitted pursuant to
Sections 1.2 or 8.5. Any monetary liens or encumbrances related to the Bonds shall be released
at conveyance. Otherwise, the Premises shall be conveyed in an “as is” condition, with no warranty, express or implied,
by Landlord as to the physical condition of the soil, its geology, the condition of the improvements, or the presence of faults,
Hazardous Substances or other substances unknown to Landlord. All expenses in connection with conveyance of the Premises to Tenant,
or Tenant’s designee, including, but not limited to, title insurance, recordation and notary fees and all other Closing
costs, shall be paid by Tenant. Possession shall be delivered to Tenant concurrently with the conveyance of title.

 

    27 

     

    

 

SECTION 26.       COMPLIANCE WITH ENVIRONMENTAL
LAWS

 

26.1          Restrictions
on Tenant. Tenant will not dispose of, generate, manufacture, process, produce, release, store, transport, treat, or use.
nor will it permit the disposal, generation, manufacture, presence, processing, production, release, storage, transportation, treatment,
or use of Hazardous Substances on, under, or about the Premises in violation of Environmental Laws. In that connection, Tenant
agrees that Tenant will comply and require all of its agents, employees, and contractors to (a) comply with all Environmental
Laws; (b) obtain and maintain or cause to be obtained and maintained all permits, licenses, and approvals required under Environmental
Laws or otherwise relating to Hazardous Substances; and (c) comply with all conditions and requirements of such permits, licenses,
and approvals.

 

26.2          Tenant’s
Business Operations. Landlord acknowledges that it is not the intent of this Section 26 to prohibit
Tenant from operating its business at the Premises for Tenant’s intended use, so long as the use or presence of Hazardous
Substances is strictly and properly monitored according to all Environmental Laws. As a material inducement to Landlord to allow
Tenant to use Hazardous Substances in connection with its business, Tenant agrees to develop emergency response/evacuation procedures
in accordance with all applicable federal, state and local requirements. In connection with any Hazardous Substances utilized by
Tenant on the Premises, Tenant shall be responsible, at its sole cost and expense, for making any necessary modifications or improvements
either to the Premises or Tenant’s equipment as required by Environmental Laws.

 

26.3          Indemnification
by Tenant. Tenant shall indemnify, defend and hold harmless, on demand, Landlord, each Pinal County Supervisor and each
Landlord official representative, agent, attorney or employee for, from and against any and all Claims and administrative orders,
consent decrees or agreements, legal and investigation fees or costs, arising from or related to:

 

A.            The
violation of any Environmental Law by Tenant or its affiliated entities, agents, employees, invitees, contractors, visitors, subtenants
or licensees;

 

B.            The
presence, use, generation, storage or release of Hazardous Substances occurring during the Term caused or resulting from the acts
of any Tenant or its owners or affiliated entities, agents, employees, invitees, contractors, visitors, subtenants or licensees;
or

 

C.            The
breach by Tenant of any of its obligations under this Section 26.

 

Without limiting the foregoing, this indemnification shall include
any and all costs incurred in connection with any investigations of all or any portion of the Premises or any cleanup, removal,
repair, remediation, detoxification or restoration and the preparation of any closure or other plans required under Applicable
Laws. Tenant s indemnification and defense obligations shall not extend to (a) the violation of any Environmental Law by parties
other than Tenant and its affiliated entities, agents, employees, invitees, contractors, visitors, subtenants or licensees, or
(b) the presence, use, generation, storage, or release of Hazardous Substances in, on, under, or above the Premises prior
to the Effective Date.

 

26.4          Survival.
Tenant’s indemnifications and obligations under this Section 26 shall survive the expiration or termination of
this Lease as to events occurring or liability arising prior to the termination of this Lease.

 

    28 

     

    

 

26.5          Existing
Environmental Conditions. Landlord has provided Tenant with an environmental report for the Premises disclosing the matters
set forth on Exhibit B attached hereto (the “Environmental Obligations”). Landlord, at Landlord’s
sole cost and expense, shall complete the work set forth in the Environmental Obligations within six (6) weeks after the Commencement
Date. In connection with Landlord’s Environmental Obligations, Landlord shall exercise commercially reasonable efforts to
minimize interference with development of the Project as contemplated in the Development Agreement and this Lease, including Tenant’s
construction of any Improvements.

 

[SIGNATURES FOLLOW ON NEXT TWO PAGES]

 

    29 

     

    

 

	 	LANDLORD:	 
	 	 	 
	 	PINAL COUNTY,	 
	 	an Arizona political subdivision	 
	 	 
	 	By: 	/s/Greg Stanley
	 	Name:	Greg Stanley
	 	its:	County Manager
	 	 	 
	ATTEST	 	 	 
	 	 	 	 
	/s/ Natasha Kennedy
	 	 	 
	COUNTY CLERK 	 	 	 
	 	 	 	 
	APPROVED AS TO FORM:	 	 	 
	 	 	 	 
	/s/ Christopher C. Keller
	 	 	 
	PINAL COUNTY ATTORNEY	 	 	 
	 	 	 	 	 

 

	STATE OF ARIZONA	)
	 	) ss.
	County of Pinal	)

 

The foregoing was
acknowledged before me this 31st, day of October, 2018, by Greg Stanley, the County Manager of
the Board of Supervisors of Pinal County, an Arizona political subdivision, on behalf of the corporation.

 

		/s/ Amberlee Taylor
	 	Notary Public 

 

	My Commission Expires:	 
	 	 
	January 13, 2022	 

 

Signature Page - Lease

 

     

     

    

 

	 	TENANT:
	 	 
	 	ATIEVA USA, INC.,
	 	a Delaware corporation d/b/a Lucid Motors USA, Inc.
	 	 
	 	By:	/s/ Doug Haslam
	 	Name:	Doug Haslam
	 	Its:	VP

 

See attached CA Notary Form

 

     

     

    

 

ACKNOWLEDGMENT

 

A notary public or other officer completing this
certificate verifies only the identity of the individual who signed the document to which this certificate is attached and not
the truthfulness, accuracy, or validity of that document.

 

		 
	State of California County of	Alameda)	 
	 	 
	On	November 15, 2018	   before me	Lisa L. Lara, Notary Public
	 	(insert name and title of the officer)
	 	 	 	 	 

personally appeared Doug Haslam who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized
capacity(ies), and that by his/her/their signature(s) on the instrument the
person(s) or the entity upon behalf of which the person(s) acted, executed the instrument.

 

I certify under PENALTY OF PERJURY under the laws of the State
of California that the foregoing paragraph is true and correct.

 

		
	 	 
	WITNESS my hand and official seal.
	 	 
	Signature	/s/ Lisa L. Lara	        (Seal)Exhibit 10.19

 

HARRISON PROPERTIES

MULTI-TENANT INDUSTRIAL GROSS LEASE

 

ARTICLE 1:
BASIC TERMS. This ARTICLE 1: contains the Basic Terms of this Lease between the Landlord and Tenant named below.
Other Articles and Sections of the Lease referred to in this ARTICLE 1: explain and define the Basic Terms and are to be read
in conjunction with the Basic Terms.

 

Section 1.01 Date of Lease:
January 17, 2020

 

Section 1.02 Landlord name
and address: CADC Partners, LLC, an Arizona Limited Liability Company, 5112 North 40th Street, Suite 105 Phoenix,
AZ 85018.

 

Section 1.03 Tenant name
and address: Atieva USA, Inc., a Delaware Corporation, 7373 Gateway Boulevard, Newark, CA 94560, Attn: Legal Department

 

Section 1.04 Property: The
Property is part of Landlord’s multi-tenant real property development known as Casa Grande Distribution Center and
described or depicted in Exhibit “A” (the “Project”). The Project includes the land, the
buildings and all other improvements located on the land, and the common areas with a street address of 2592 E. Hanna Road.
The Property is (include street address, approximate square footage and description): Approximately 190,101 square feet
located at 2592 E. Hanna Road, Suites 115 & 120, Casa Grande, AZ 85193 See Exhibit “A “ Site
Plan. Tenant has the right to remeasure the Property within 90 days after the Commencement Date and Base Rent will be
updated to reflect discrepancies in the square footage.

 

Section 1.05 Lease Term:
5 years and 2 months. 139,618 square feet, beginning on February 1, 2020 and the additional 50,483 square feet on March 1,
2020, or such other date as is specified in this Lease, and ending March 31, 2025.

 

Section 1.06 Permitted
Uses: (See ARTICLE 5:) General office, industrial, research and development, warehousing, distribution, manufacturing
and legally permitted ancillary uses related to the automotive industry including tire and battery storage and battery pack assembly,
including using certain portions or all of the Property, including the parking areas, as a foreign trade zone.

 

Section 1.07 Tenant’s
Guarantor: (if none, so state) None

 

Section 1.08 Tenant’s
Broker: Bill Honsaker, Jones Lang LaSalle Americas, Inc. By Separate Agreement.

 

Section 1.09 Initial
Security Deposit: (See Section 3.02) $76,040.40

 

Section 1.10 Vehicle
Parking Spaces Allocated to Tenant: 126 exclusive parking stalls, as shown on Exhibit A. Tenant will have the right
to convert trailer parking to create an additional 46 parking stalls for Tenant’s exclusive use. (See
Section 4.05(a))

 

Section 1.11 Rent and
Other Charges Payable by Tenant:

 

(a)      BASE
RENT: Seventy-Six Thousand and Forty and-----------------40/00Dollars ($76,040.40) per month (calculated based on $0.40 per square foot)
for 60 months, as provided in Section 3.01.

 

(b)      OTHER
PERIODIC PAYMENTS: (i) Real Property Taxes above the “Base Real Property Taxes” (See Section 4.02); and (ii) Utilities
(See Section 4.03).

 

RENTAL TAX. In addition to the Base Rent and other periodic
payments, the Tenant shall pay to the Landlord an amount equal to the amount of transaction privilege tax (a/k/a rental tax) imposed
by the state of Arizona or any of its political subdivisions.

 

Section 1.12 Costs and
Charges Payable by Landlord: (a) Base Real Property Taxes (See Section 4.02); (b) Insurance Premiums (See Section 4.04(b));
(c)      Maintenance of Common Areas (See Section 4.05(b)); (d) Maintenance and Repair (See Section 6.03); and (e) Certain
Damages (See ARTICLE 7:).

 

Section 1.13 Landlord’s
Share of Profit on Assignment or Sublease: (See Section 9.04(a)(i)) (50%) of the Profit (the “Landlord’s Share”).

 

Section 1.14 Riders:
The following Riders are attached to and made a part of this Lease: (if none, so state, delete inapplicable exhibits) Exhibit “A”
Site Plan, Exhibit “B” Notice of Lease Term Dates, Exhibit “C” Tenant Improvements.

 

ARTICLE 2:        LEASE TERM

 

Section 2.01
Lease of Property For Lease Term. Landlord leases the Property to Tenant and Tenant leases the Property from Landlord for
the Lease Term. The Lease Term is for the period stated in Section 1.05 above and shall begin and end on the dates specified
in Section 1.05 above, unless the beginning or end of the Lease Term is changed under any provision of this Lease. The “Commencement
Date” shall be the first date specified in Section 1.05 above for the beginning of the Lease Term, unless advanced
or delayed under any provision of this Lease. Landlord represents and warrants to Tenant that (i) it has the full right and
power to execute and perform this Lease and to grant and convey the estate demised herein; (ii) owns the Project in fee simple,
subject only to recorded title matters; (iii) access to the Property is by public rights of way and/or nonterminal private
easements; and (iv) as of the execution date, Landlord is not aware of and has not received notice of any newly enacted,
pending, proposed or threatened legal requirement, condemnation, or litigation which would in any way prevent or inhibit the use
of the Property by Tenant as contemplated by this Lease.

    1
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

Section 2.02 Delay in
Commencement. Landlord shall not be liable to Tenant if Landlord does not deliver possession of the Property to Tenant on the
Commencement Date; however, the Commencement Date shall be delayed until Landlord delivers possession of the Property to Tenant
and the Lease Term shall be extended for a period equal to the delay in delivery of possession of the Property to Tenant. In addition,
Tenant will receive a credit equal to one day of Base Rent for each day after February 1, 2020 with respect to Suite 115
and March 1, 2020 with respect to the entire Property until Landlord has delivered possession of all of the Property as required
herein. If Landlord does not deliver complete possession to all of the Property to Tenant within sixty (60) days after the Commencement
Date, Tenant may give notice of intent to cancel this Lease by giving written notice to Landlord. If Tenant gives such notice and
the Landlord does not deliver possession to Tenant within ten (10) days of Landlord’s receipt of Tenant’s notice
of intent to cancel this Lease, then for a period of not more than thirty (30) days thereafter, Tenant may cancel this Lease upon
notice to Landlord. If Tenant does not cancel this Lease within such period, then Tenant may invoke this provision again at any
time after the expiration of such thirty (30) day period by giving another ten (10) day notice of intent to cancel. Upon any
cancellation under this section, the Lease shall be canceled and neither Landlord nor Tenant shall have any further obligations
to the other, except for the return of any deposit by Tenant. Within thirty (30) days after Landlord has delivered possession of
the Property to Tenant as required hereunder, Landlord and Tenant shall execute a document in the form attached as Exhibit B
confirming the Commencement Date and other pertinent dates.

 

Section 2.03 Early Occupancy.
Tenant shall be entitled to enter the Property at any time after full execution and delivery of this Lease for the purpose
of measuring, planning, and installing Tenant’s improvements, fixtures, and equipment, and any other use permitted under
Section 1.06. If Tenant occupies the Property prior to the Commencement Date, Tenant’s occupancy of the Property shall
be subject to all of the provisions of this Lease. Early occupancy of the Property shall not advance the expiration date of this
Lease. Tenant shall not pay Base Rent and all other charges specified in this Lease for the early occupancy period.

 

Section 2.04 Holding
Over. Tenant shall vacate the Property upon the expiration or earlier termination of this Lease. Tenant shall reimburse Landlord
for and indemnify Landlord against all direct, actual damages which Landlord incurs from Tenant’s delay in vacating the Property.
If Tenant does not vacate the Property upon the expiration or earlier termination of the Lease and Landlord thereafter accepts
rent from Tenant, Tenant’s occupancy of the Property shall be a “month-to-month” tenancy, subject to all of the
terms of this Lease applicable to a month-to-month tenancy, except that the Base Rent then in effect shall be increased after 60
day grace period by twenty-five percent (25%). Any holding over by the Tenant shall be subject to termination, provided that the
Landlord or Tenant gives the other not less than 30 days written notice of termination.

 

ARTICLE 3:       BASE RENT.

 

Section 3.01 Time and
Manner of Payment. Tenant is entitled to rent abatement for the first and second full months of the Lease Term. Commencing
on the first day of the third month of the Lease Term (i.e., February 1, 2020 assuming the Commencement Date has not been
delayed), Tenant shall pay Landlord the Base Rent in the amount stated in Section 1.11 (a) above for the first month
of the Lease Term. On the first day of the second month of the Lease Term and each month thereafter, Tenant shall pay Landlord
the Base Rent, in advance, without offset, deduction or prior demand unless otherwise provided herein. The Base Rent shall be payable
at Landlord’s address or at such other place as Landlord may designate in writing.

 

Section 3.02 Security
Deposit; Increases. Upon the execution of this Lease, Tenant shall deposit with Landlord a cash Security Deposit in the amount
set forth in Section 1.09 above. Landlord may apply all or part of the Security Deposit to any unpaid rent or other charges
due from Tenant or to cure any other defaults of Tenant that Tenant has not cured subject to the notice and grace periods provided
in Article 10. If Landlord uses any part of the Security Deposit for an uncured Tenant default, Tenant shall restore the Security
Deposit to its full amount within thirty (30) days after Landlord’s written request. Tenant’s failure to do so shall
be a material default under this Lease. No interest shall be paid on the Security Deposit. Landlord shall not be required to keep
the Security Deposit separate from its other accounts and no trust relationship is created with respect to the Security Deposit.

 

Section 3.03 Termination;
Advance Payments. Upon termination of this Lease under ARTICLE 7: (Damage or Destruction), ARTICLE 8: (Condemnation)
or any other termination not resulting from Tenant’s default, and after Tenant has vacated the Property in the manner required
by this Lease, Landlord shall refund or credit to Tenant (or Tenant’s successor) the unused portion of the Security Deposit,
any advance rent or other advance payments made by Tenant to Landlord, and any amounts paid for real property taxes and other reserves
which apply to any time periods after termination of the Lease. Landlord’s obligations under this Section 3.03 will
survive the expiration or earlier termination of the Lease.

 

ARTICLE 4: OTHER CHARGES PAYABLE BY TENANT

 

Section 4.01 Additional
Rent. All charges payable by Tenant other than Base Rent are called “Additional Rent.” Unless this Lease
provides otherwise, Tenant shall pay all Additional Rent then due with the next monthly installment of Base Rent. The term
 “rent” shall mean Base Rent and Additional Rent.

 

    2
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

Section 4.02 Property Taxes.

 

(a)      Real
Property Taxes. Landlord shall pay the “Base Real Property Taxes” on the Property during the Lease Term. Base Real
Property Taxes are real property taxes applicable to the Property as shown on the tax bill for the base year 2020. However, if
the structures on the Property are not completed by the tax lien date of such tax fiscal year, the Base Real Property Taxes are
the taxes shown on the first tax bill showing the full assessed value of the Property after completion of the structures. Tenant
shall pay Landlord the amount, if any, by which the real property taxes during the Lease Term exceed the Base Real Property Taxes.
Subject to (c), Tenant shall make such payments within thirty (30) days after receipt of Landlord’s statement showing the
amount and computation of such increase. Landlord shall reimburse Tenant for any real property taxes paid by Tenant covering any
period of time prior to or after the Lease Term. BASE YEAR 2020.

 

(b)      Definition
of “Real Property Tax.” “Real property tax” means: (i) any fee, license fee, license tax, business
license fee, commercial rental tax, levy, charge, or assessment imposed by any taxing authority against the Property; (ii) any
tax on the Landlord’s right to receive, or the receipt of, rent or income from the Property or against Landlord’s business
of leasing the Property; (iii) any tax or charge for fire protection, streets, sidewalks, road maintenance, refuse or other
services provided to the Property by any governmental agency; (iv) any tax imposed upon this transaction or based upon a re-assessment
of the Property due to a change of ownership, as defined by applicable law, or other transfer of all or part of Landlord’s
interest in the Property; and (v) any charge or fee replacing any tax previously included within the definition of real property
tax. “Real property tax” does not, however, include Landlord’s federal or state income, franchise, inheritance
or estate taxes, any late fees, penalties or interest attributable to Landlord’s failure to timely pay any invoice or Landlord’s
failure to comply with the rules or regulations of the taxing authority, or any special assessments or impact fees related
to the development of property not directly benefiting Tenant.

 

(c)      Joint
Assessment. If the Property is not separately assessed, Real Property Taxes will be proportionately assessed based on the square
footage of the Property related to the total square footage of the Project. Tenant shall pay such share to Landlord within thirty
(30) days after receipt of Landlord’s written statement and supporting documentation therefor.

 

(d)      Personal
Property Taxes.

 

(i)    Tenant
shall pay all taxes charged against trade fixtures, furnishings, equipment or any other personal property belonging to Tenant.
Tenant shall try to have personal property taxed separately from the Property.

 

(i)    If any of Tenant’s personal
property is taxed with the Property, Tenant shall pay Landlord the taxes for the personal property within fifteen (15) days after
Tenant receives a written statement from Landlord for such personal property taxes.

 

Section 4.03 Utilities.
Tenant shall pay, directly to the appropriate supplier, the cost of all natural gas, heat, light, power, sewer service, telephone,
water, refuse disposal and other utilities and services supplied to the Property for Tenant’s consumption. However, if any
services or utilities are jointly metered with other property, Landlord shall make a good faith and reasonable determination of
Tenant’s proportionate share of the cost of such utilities and services and Tenant shall pay such share to Landlord in monthly
in arrears. At Landlord’s election, Landlord may base such charges on the prior year’s annual amount spread equally
over the 12 months of the current year. Exterior lighting billed back on a prorated share.

 

Section 4.04 Insurance
Policies.

 

(a)      Liability
Insurance. During the Lease Term, Tenant shall maintain a policy of commercial general liability insurance (sometimes known
as broad form comprehensive general liability insurance) insuring Tenant against liability for bodily injury, property damage (including
loss of use of property) and personal injury arising out of the operation, use or occupancy of the Property. Tenant shall name
Landlord as an additional insured under such policy. The initial amount of such insurance shall be One Million Dollars ($1,000,000)
per occurrence and shall be subject to periodic increase based upon inflation, increased liability awards, recommendation of Landlord’s
professional insurance advisers and other relevant factors. The liability insurance obtained by Tenant under this Section 4.04(a) shall
(i) be primary and non-contributing; and (ii) contain cross-liability endorsements. The amount and coverage of such insurance
shall not limit Tenant’s liability nor relieve Tenant of any other obligation under this Lease. Landlord shall obtain, at
its sole cost and expense, comprehensive public liability insurance in an amount and with coverage determined by Landlord insuring
Landlord against liability arising out of ownership, operation, use or occupancy of the Property. The policy obtained by Landlord
shall not be contributory and shall not provide primary insurance.

 

(b)      Property
Insurance.

 

(i)    Tenant.
During the Lease Term, Tenant shall maintain policies of insurance covering loss of or damage to the furniture, fixtures,
equipment and other tangible and intangible personal property that is located on or within the Property and/or stored in any
portion of the common area (to the extent that Tenant is allowed to use the common area for that purpose, such as vehicles,
storage sheds and the like) in the full amount of its replacement value. Such policy shall contain an endorsement for
inflation and shall provide protection against all perils included within the classification of fire, extended coverage,
vandalism, malicious mischief, special extended perils (all risk), sprinkler leakage and any other perils that are reasonably
necessary; provided that Tenant shall not be obligated to insure any of the Property, nor tangible personal property and/or
fixtures belonging to the Landlord, if any.

 

    3
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

(ii)   Landlord.
During the Lease Term, Landlord shall maintain, at its sole cost and expense, policies of insurance covering loss of or damage
to the Property in the full amount of its replacement value. Such policy shall contain an endorsement for inflation and shall provide
protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special
extended perils (all risk), sprinkler leakage and any other perils which Landlord deems reasonably necessary. Landlord shall have
the right to obtain at its sole cost and expense flood and earthquake insurance if required by any lender holding a security interest
in the Property. Landlord shall not obtain insurance for Tenant’s fixtures or equipment or building improvements installed
by Tenant on the Property. Tenant shall be liable for the payment of any deductible amount under Landlord’s or Tenant’s
insurance policies maintained pursuant to this Section 4.04, in an amount not to exceed Ten Thousand Dollars ($10,000); provided,
however, Tenant shall not be responsible for the deductible under Landlord’s insurance policies unless the cause for the
damage or injury was due to Tenant’s negligence or willful misconduct. Tenant shall not do or permit anything beyond the
Permitted Uses to be done which invalidates any such insurance policies.

 

(c)      General
Insurance Provisions.

 

(i)    Any
insurance which Tenant is required to maintain under this Lease shall include a provision which requires the insurance carrier
to give Landlord not less than thirty (30) days written notice prior to any cancellation or modification of such coverage.

 

(ii)   If
Tenant fails to deliver any policy, certificate or renewal to Landlord required under this Lease within the prescribed time period
or if any such policy is canceled or modified during the Lease Term without Landlord’s consent, Landlord may obtain such
insurance, in which case Tenant shall reimburse Landlord for the cost of such insurance within thirty (30) days after receipt of
a statement that indicates the cost of such insurance.

 

(iii)  Tenant
shall maintain all insurance required under this Lease with companies holding a “General Policy Rating” of A-VII or
better, as set forth in the most current issue of “Best Key Rating Guide”. Landlord and Tenant acknowledge the insurance
markets are rapidly changing and that insurance in the form and amounts described in this Section 4.04 may not be available
in the future. Tenant acknowledges that the insurance described in this Section 4.04 is for the primary benefit of Landlord.
If at any time during the Lease Term, Tenant is unable to maintain the insurance required under the Lease, Tenant shall nevertheless
maintain insurance coverage which is customary and commercially reasonable in the insurance industry for Tenant’s type of
business, as that coverage may change from time to time. Landlord makes no representation as to the adequacy of such insurance
to protect Landlord’s or Tenant’s interests. Therefore, Tenant shall obtain any such additional property or liability
insurance which Tenant deems necessary to protect Tenant.

 

(iv)  Tenant
shall take no action nor refrain from any action, including but not limited to the use or ancillary use of the Property by Tenant,
its employees, contractors or business invitees, the effect of which impairs, terminates or causes any significant increase in
the premiums charged for insurance maintained by the Landlord or the Tenant; provided that if the sole issue is the increase in
insurance premiums, if approved by the Landlord, the Tenant shall pay, as additional rent hereunder the full amount of such increase
that is based substantially on the actions or inactions of the Tenant.

 

(v)   Unless
prohibited under any applicable insurance policies maintained, Landlord and Tenant each hereby waive any and all rights of recovery
against the other, or against the officers, employees, agents or representatives of the other, for loss of or damage to its property
or the property of others under its control, if such loss or damage is covered by any insurance policy in force (whether or not
described in this Lease) at the time of such loss or damage. Upon obtaining the required policies of insurance, Landlord and Tenant
shall give notice to the insurance carriers of this mutual waiver of subrogation.

 

Section 4.05 Parking &
Common Areas.

 

(a)      Specific
Provision re: Vehicle Parking. Tenant shall be entitled to use the exclusive number of vehicle parking spaces, if any, in the
Project allocated to Tenant in Section 1.10 of the Lease. Tenant will be permitted to install fencing or a border around Tenant’s
exclusive parking areas and Landlord will use reasonable efforts to enforce Tenant’s parking rights against other tenants
in the Project. Tenant shall be entitled to use other parking spaces on a first come, first serve basis, provided that if the Landlord
determines that it is reasonably necessary, the Landlord may establish reasonable rules and regulations concerning the use
of common parking spaces. All parking shall be without paying any additional rent. Except for the exclusive parking granted to
Tenant and other tenants within the Project, no tenant’s (including the Tenant’s parking) shall be reserved. Parking
striped for use by passenger vehicles shall be limited to vehicles no larger than standard size automobiles or pickup utility vehicles.
Tenant may use large trucks or other large vehicles to be parked within the Project or on the adjacent public streets (except where
prohibited by law or ordinances) to the extent that such areas are not committed to passenger vehicle parking, again provided that
the Landlord may adopt reasonable rules and regulations if it becomes necessary to control parking of such vehicles. No Vehicles
shall be parked in driveways, loading areas (except with the permission of the applicable tenant or other locations not specifically
designated for passenger, pickup truck and or large truck parking. Handicapped spaces shall only be used by those legally permitted
to use them.

 

(b)      Maintenance
of Common Areas. Landlord shall maintain those areas of the Project that are not set aside for exclusive use by one Tenant
(the “Common Areas”) in good order, condition and repair and shall operate the Project, in Landlord’s sole discretion,
as a first-class industrial/commercial real property development; provided, however, Landlord shall at all times ensure Tenant
has access to its parking areas.

 

    4
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

Section 4.06 Late Charges.
Tenant’s failure to pay rent promptly may cause Landlord to incur unanticipated costs. The exact amount of such costs
is impractical or extremely difficult to ascertain. Such costs may include, but are not limited to, processing and accounting charges
and late charges which may be imposed on Landlord by any ground lease, mortgage or trust deed encumbering the Property. Therefore,
if Landlord does not receive any rent payment by the tenth day of the applicable month, and such nonpayment continues for an additional
5 days after Landlord’s written notice to Tenant of the delinquency, Tenant shall pay Landlord a late charge equal to five
percent (5%) of the overdue amount. The parties agree that such late charge represents a fair and reasonable estimate of the costs
Landlord will incur by reason of such late payment.

 

Section 4.07 Interest
on Past Due Obligations. Any amount owed by Tenant to Landlord which is not paid when due shall bear interest at the rate of
ten percent (10%) per annum from the due date of such amount, However, interest shall not be payable on late charges to be paid
by Tenant under this Lease. The payment of interest on such amounts shall not excuse or cure any default by Tenant under this Lease.
If the interest rate specified in this Lease is higher than the rate permitted by law, the interest rate is hereby decreased to
the maximum legal interest rate permitted by law.

 

ARTICLE 5: USE OF PROPERTY

 

Section 5.01 Permitted
Uses. Tenant may use the Property only for the Permitted Uses set forth in Section 1.06 above.

 

Section 5.02 Manner
of Use. Tenant shall not cause or permit the Property to be used in any way which constitutes a violation of any law, ordinance,
or governmental regulation or order, which annoys or interferes with the rights of tenants of the Project, or which constitutes
a nuisance or waste. Tenant shall obtain and pay for all permits, including a temporary Certificate of Occupancy or the jurisdictional
equivalent, required for Tenant’s occupancy of the Property, or a portion thereof, and shall promptly take all actions necessary
to comply with all applicable statutes, ordinances, rules, regulations, orders and requirements regulating the use by Tenant of
the Property, including the Occupational Safety and Health Act.

 

Section 5.03 Hazardous
Materials. As used in this Lease, the term “Hazardous Material” means any flammable items, explosives, radioactive
materials, hazardous or toxic substances, material or waste or related materials, including any substances defined as or included
in the definition of “hazardous substances”, “hazardous wastes”, “hazardous materials” or “toxic
substances” now or subsequently regulated under any applicable federal, state or local laws or regulations, including without
limitation petroleum-based products, paints, solvents, lead, cyanide, DDT, printing inks, acids, pesticides, ammonia compounds
and other chemical products, asbestos, PCBs and similar compounds, and including any different products and materials which are
subsequently found to have adverse effects on the environment or the health and safety of persons. Tenant shall not cause or permit
any Hazardous Material to be generated, produced, brought upon, used, stored, treated or disposed of in or about the Property by
Tenant, its agents, employees, contractors, subleases or invitees without the prior written consent of Landlord. This provision
shall not prohibit commercially reasonable quantities of Hazardous Materials used in cleaning or other purposes in the ordinary
course of business by the Tenant; provided that all such use shall be in strict accord with all laws, rules, regulations, ordinances
or other restrictions on such use and in accord with all applicable manufacturer’s restrictions. If any of such uses requires
a special permit, the Tenant shall obtain such permit at its sole cost and expenses. Moreover, no application for such a permit
may be made without the Landlord’s specific written approval, which may be granted or withheld in the sole and unfettered
discretion of the Landlord. Failure to obtain such prior approval shall constitute a non-curable default, unless waived in writing
by the Landlord. If and to the extent that the Landlord has to or elects to obtain approval of any institutional lender who has
loaned Landlord money secured by the Project, by itself or with other projects, the failure of such lender to approve such permit
application shall be full and complete justification for refusing to approve the application for such a permit. In no event, however,
shall Landlord be required to consent to the installation or use of any above or underground storage tanks on the Property. Notwithstanding
anything in this Section 5.03 or elsewhere in this Lease to the contrary, Landlord understands and agrees that Tenant’s
use of the Premises includes the use, assembly, storage and disposal of certain Hazardous Materials related to the automotive and
alternative energy industries, and Landlord further agrees the provisions of this Section 5.03 shall not apply so long as
Tenant’s use, assembly, storage and disposal of such Hazardous Materials are performed in compliance with all applicable
laws.

 

Section 5.04 Signs and
Auctions. Tenant has the right to install exterior building façade signage in accordance with City of Casa Grande, Arizona’s
applicable laws and ordinances. Other than wayfinding and signs reserving Tenant’s exclusive parking areas, Tenant shall
not place any signs on the Property without Landlord’s prior written consent, which will not be unreasonably withheld, conditioned
or delayed. Tenant shall not conduct or permit any auctions or sheriffs sales at the Property.

 

Section 5.05
Indemnity. Tenant shall indemnify, defend, and hold harmless Landlord and its officers, directors, employees, agents, contractors,
and representatives for, from and against any and all costs, claims or liability arising from: (a) omitted; (b) the
conduct of Tenant’s business or anything else done or permitted by Tenant to be done (by itself or on its behalf) in or
about the Property, including any contamination of the Property or any other property resulting from the presence or use of Hazardous
Material caused or permitted by Tenant or any of its officers, directors, employees, agents, contractors and representatives;
(c) any breach or default in the performance of Tenant’s obligations under this Lease; (d) any violation of the
duties of Tenant concerning Hazardous Materials referenced above in Section 5.03, or (e) any misrepresentation or breach
of warranty by Tenant under this Lease. Tenant shall defend Landlord and its officers, directors, employees, agents, contractors
and representatives against any such cost, claim or liability at Tenant’s expense with counsel reasonably acceptable to
Landlord or, at Landlord’s election, Tenant shall reimburse Landlord, its officers, directors, employees, agents, contractors,
and representatives for any legal fees or costs incurred by Landlord in connection with any such claim. Landlord will indemnify
and hold Tenant harmless from any and all costs, claims or liability arising from Landlord’s breach of the Lease, and Landlord’s
negligence or willful misconduct, or the negligent or wrongful acts of Landlord’s employees, members, contractors, agents,
and representatives. The provisions of this Section 5.05 shall survive the expiration or earlier termination of the Lease.

    5
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

Section 5.06 Landlord’s
Access. Landlord or its agents may enter the Property at all reasonable times to show the Property to potential buyers, investors
or, if during the last 12 months of the Lease Term, to prospective tenants; to inspect and conduct noninvasive tests in order to
monitor Tenant’s compliance with all applicable environmental laws and all laws governing the presence and use of Hazardous
Material; or for any other purpose Landlord reasonably deems necessary to cure a Tenant default. Landlord’s entry is conditioned
upon: (i) giving Tenant at least 48 hours prior notice of such entry, except in the case of an emergency that threatens imminent
bodily injury or property damage; (ii) accompaniment by a Tenant escort; (iii) compliance with Tenant’s reasonable
security rules and regulations; (iv) causing minimal disruption to Tenant’s business; and (v) obtaining nondisclosure
agreements from the third party that is entering the Property. Landlord may place customary “For Sale” or “For
Lease” signs on the Property during the last 12 months of the Lease Term.

 

Section 5.07 Quiet Possession.
If Tenant pays the rent and complies with all other terms of this Lease, subject to any rights of offset, deduction, or defenses,
Tenant may occupy and enjoy the Property for the full Lease Term, subject to the provisions of this Lease.

 

ARTICLE 6: CONDITION OF PROPERTY, MAINTENANCE, REPAIRS
AND ALTERATIONS

 

Section 6.01 Existing &
Future Conditions. Landlord represents and warrants to Tenant that, as of the date hereof, (i) the Property is structurally
sound, in compliance with all laws, and in good working order and repair, including but not limited to the roof, mechanical, electrical,
plumbing, sprinkler, and all door systems; and (ii) all common areas, including the parking areas, are in good working condition
and in compliance with the Americans with Disabilities Act. Landlord will ensure all drywells located in, on, or around the Property
are registered with the Arizona Department of Environmental Quality and will comply with all regulations with respect to the drywells
thereto. Subject to the foregoing, Tenant will accept the Property in its condition as of the execution of the Lease, subject to
all laws, ordinances, and governmental regulations and orders. Except as provided herein, Tenant acknowledges that neither Landlord
nor any agent of Landlord has made any representation as to the suitability of the Property for Tenant’s intended use. Tenant
represents and warrants that Tenant has made its own inspection of and inquiry regarding the condition of the Property and is not
relying on any representations of Landlord or any Broker with respect thereto. Moreover, from time to time, the Landlord may find
it necessary to grant easements, dedicate rights-of-way or otherwise encumber the Project including, but not limited to expansion,
providing additional utilities, cooperate with municipal or other governmental authorities. Landlord may do so, in its reasonable
discretion, provided Tenant’s use of, or access to, the Property, including the parking areas, will not be unreasonably impaired.
Tenant shall be entitled to a reduction of rent to the extent of such impairment, either as agreed between Landlord and Tenant
or by binding arbitration.

 

Section 6.02 Exemption
of Landlord from Liability. Landlord shall not be liable for any damage or injury to the person, business (or any loss of income
therefrom), goods, wares, merchandise or other property of Tenant, Tenant’s employees, invitees, customers or any other person
in or about the Property, whether such damage or injury is caused by or results from: (a) fire, steam, electricity, water,
gas or rain; (b) the breakage, leakage, obstruction or other defects of pipes, sprinklers, wires, appliances, plumbing, air
conditioning or lighting fixtures or any other cause; (c) conditions arising in or about the Property or upon other portions
of the Project, or from other sources or places; or (d) any act or omission of any other tenant of the Project. Landlord shall
not be liable for any such damage or injury even though the cause of or the means of repairing such damage or injury are not accessible
to Tenant. The provisions of this Section 6.02 shall not, however, exempt Landlord from liability for Landlord’s negligence
or willful misconduct, or Landlord’s breach of its obligations, representations, and warranties under this Lease. As used
in the foregoing sentence, “Landlord” shall include Landlord’s employees, members, contractors, agents, and representatives.

 

Section 6.03 Landlord’s
Obligations. Subject to the provisions of ARTICLE 7:(Damage or Destruction) and ARTICLE 8: (Condemnation), and except
for damage caused by any act or omission of Tenant, or Tenant’s employees, agents, contractors or invitees, Landlord shall
keep the foundation, roof and structural portions of exterior walls of the improvements on the Property in good order, condition
and repair. However, Landlord shall not be obligated to maintain or repair windows, doors, or the interior surfaces of exterior
walls. Landlord will perform routine maintenance and repairs at regular intervals consistent with other landlords of similar first
class buildings in the Phoenix metropolitan area, including regular landscaping and window washing. In addition, Landlord shall
cause periodic inspections of the drywells located on or around the Premises and shall ensure there is no contamination of the
soil or groundwater attributable to the operations at the Property. If Landlord fails to perform any repair within a reasonable
period of time, but in any event within 30 days or less in the event of an emergency, Tenant has the right to perform the repair
and deduct the reasonable cost therefor from Base Rent until fully reimbursed.

 

Section 6.04
Tenant’s Obligations. Except as provided in Section 6.03, ARTICLE 7: (Damage or Destruction) and ARTICLE 8:
(Condemnation), and subject to Landlord’s obligations in Section 6.03 above, Tenant shall keep all portions of the
Property (including nonstructural, interior systems and equipment) in good order, condition and repair. If any portion of the
Property or any system or equipment in the Property which Tenant is obligated to repair cannot be fully repaired or restored,
Tenant shall promptly replace such portion of the Property or system or equipment in the Property, regardless of whether the benefit
of such replacement extends beyond the Lease Term; but if the benefit or useful life of such replacement extends beyond the Lease
Term (as such term may be extended by exercise of any options), the useful life of such replacement shall be prorated over the
remaining portion of the Lease Term (as extended), and Tenant shall be liable only for that portion of the cost which is applicable
to the Lease Term (as extended). Landlord shall maintain, repair, and replace the heating and air conditioning systems. Tenant
will be responsible to change their own air filters at Tenant’s cost. In addition, Tenant shall, at Tenant’s expense,
repair any damage to the roof, foundation or structural portions of walls caused by Tenant’s wrongful acts or omissions.
It is the intention of Landlord and Tenant that, at all times during the Lease Term, Tenant shall maintain the Property in an
attractive, first-class condition. Tenant shall fulfill all of Tenant’s_obligations under this Section 6.04 at Tenant’s
sole expense. If Tenant fails to maintain, repair or replace the Property as required by this Section 6.04, Landlord may,
upon ten (10) days prior notice to Tenant (except that no notice shall be required in the case of an emergency), enter the
Property and perform such maintenance or repair (including replacement, as needed) on behalf of Tenant. In such case, Tenant shall
reimburse Landlord for all costs incurred in performing such maintenance or repair immediately upon demand.

    6
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

 

Section 6.05 Alterations, Additions,
and Improvements. Tenant shall not make any alterations, additions, or improvements to the Property without Landlord’s
prior written consent, except for non-structural alterations which do not exceed One Hundred Thousand Dollars ($100,000) in aggregate
cost and which are not visible from the outside of any building of which the Property is part. Landlord may require Tenant to provide
demolition and/or lien and completion bonds in form and amount reasonably satisfactory to Landlord. Tenant shall promptly remove
any alterations, additions, or improvements constructed in violation of this Section 6.05 upon Landlord’s written request.
All alterations, additions, and improvements shall be done in a good and workmanlike manner, in conformity with all applicable
laws and regulations, and by a reputable, licensed contractor (provided, however, Tenant shall not engage any contractor which
Landlord had previously disclosed to Tenant as a restricted contractor). Upon completion of any such work, if requested by Landlord
as a condition of approval, Tenant shall provide Landlord with “as built” plans, copies of all construction contracts,
and proof of payment for all labor and materials. Tenant shall pay when due all claims for labor and material furnished to the
Property. Tenant shall give Landlord at least twenty (20) days’ prior written notice of the commencement of any work on the
Property. Landlord may elect to record and post notices of non-responsibility on the Property. Notwithstanding the provisions of
this Section 6.05, Landlord hereby approves of Tenant’s planned improvements described on Exhibit C.

 

Section 6.06 Condition upon Termination.
Upon the termination of the Lease, Tenant shall surrender the Property to Landlord, broom clean and in the same condition as
received (if and to the extent that this Lease relates to a continuation of a previous Lease between Landlord or its predecessor
in interest or the Tenant was the assignee of a Lease of the Property, the reference to “received” shall mean the commencement
of the somewhat continuous occupancy of the Property) except for ordinary wear and tear and other repairs and damage which Tenant
was not otherwise obligated to repair under any provision of this Lease. However, Tenant shall not be obligated to repair any damage
which Landlord is required to repair under ARTICLE 7: (Damage or Destruction). In addition, Landlord may require Tenant to
remove any alterations, additions or improvements (whether or not made with Landlord’s consent) prior to the expiration of
the Lease and to restore the Property to its condition at the time Tenant received it, all at Tenant’s expense. All alterations,
additions and improvements which Landlord has not required Tenant to remove shall become Landlord’s property and shall be
surrendered to Landlord upon the expiration or earlier termination of the Lease, except that Tenant may remove any of Tenant’s
machinery or equipment which can be removed without material damage to the Property. Tenant shall repair, at Tenant’s expense,
any damage to the Property caused by the removal of any such machinery or equipment. In no event, however, shall Tenant remove
any of the following materials or equipment (which shall be deemed Landlord’s property) without Landlord’s prior written
consent: any power wiring or power panels; lighting or lighting fixtures; wall coverings; drapes, blinds or other window coverings;
carpets or other floor coverings; heaters, air conditioners or any other heating or air conditioning equipment (but this Section 6.05
shall not be construed to restrict Tenant from removing any heating or air conditioning equipment installed by Tenant, so long
as (i) such equipment can be removed without causing damage to the structure or building systems that cannot reasonably be
repaired, and (ii) the tenant improvement allowance described in Article 17 below was not used to purchase such equipment);
fencing or security gates; or other similar building operating equipment and decorations.

 

ARTICLE 7: DAMAGE OR DESTRUCTION

 

Section 7.01
Partial Damage to Property. Tenant shall notify Landlord in writing immediately upon the discovery of any substantial damage to
the Property. If the Property is only partially damaged (i.e., less than fifty percent (50%) of the Property is untenantable as
a result of such damage or less than fifty percent (50%) of Tenant’s operations are materially impaired) and if the proceeds
received by Landlord from the insurance policies described in Section 4.04(b) are sufficient to pay for the necessary
repairs, this Lease shall remain in effect and Landlord shall repair the damage as soon as reasonably possible. Landlord may elect
(but is not required) to repair any damage to Tenant’s fixtures, equipment, or improvements. If the insurance proceeds received
by Landlord are not sufficient to pay the entire cost of repair or if the cause of the damage is not covered by the insurance
policies which Landlord maintains under Section 4.04(b), Landlord may elect either to (i) repair the damage as soon
as reasonably possible, in which case this Lease shall remain in full force and effect, or (ii) terminate this Lease as of
the date the damage occurred; provided, however, Tenant may, at its sole option, elect to pay for the amount not covered by insurance
proceeds in which case Landlord’s termination will be void and Landlord will thereafter diligently commence restoration
of the Property upon receipt of Tenant’s payment for such additional amount to repair the damage not covered by insurance
proceeds. Landlord shall notify Tenant within thirty (30) days after receipt of notice of the occurrence of the damage whether
Landlord elects to repair the damage or terminate the Lease. If Landlord elects to repair the damage and if the damage was due
to an act or omission of Tenant, or Tenant’s employees, agents, contractors or invitees, Tenant will pay Landlord the deductible
amount (if any) and the difference between the actual cost of repair and any insurance proceeds received by Landlord (if any).
If Landlord elects to terminate the Lease, Tenant may elect to continue this Lease in full force and effect, in which case Tenant
shall repair any damage to the Property and any building in which the Property is located when Landlord shall deliver to Tenant
any insurance proceeds received by Landlord for the damage repaired by Tenant. Tenant shall give Landlord written notice of such
election within thirty (30) days after receiving Landlord’s termination notice. If the damage to the Property occurs during
the last six (6) months of the Lease Term and such damage will require more than thirty (30) days to repair, Tenant may elect
to terminate this Lease as of the date the damage occurred, regardless of the sufficiency of any insurance proceeds. The party
electing to terminate this Lease shall give written notification to the other party of such election within thirty (30) days after
Tenant’s notice to Landlord of the occurrence of the damage.

    7
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

Section 7.02 Substantial
or Total Destruction. If the Property is substantially or totally destroyed by any cause whatsoever (i.e., the damage to the
Property is greater than partial damage as described in Section 7.01), and regardless of whether Landlord receives any insurance
proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence, if the Property
can be rebuilt within six (6) months after the date of destruction, Tenant may elect to have Landlord rebuild the Property
at Landlord’s own expense, in which case this Lease shall remain in full force and effect. Tenant shall notify Landlord of
such election within thirty (30) days after Tenant’s notice of the occurrence of total or substantial destruction. If Tenant
so elects, Landlord shall rebuild the Property at Landlord’s sole expense, except that if the destruction was caused by an
act or omission of Tenant, Tenant shall pay Landlord the difference between the actual cost of rebuilding and any insurance proceeds
received by Landlord.

 

Section 7.03 Temporary
Abatement of Rent. If the Property is destroyed or damaged and Landlord or Tenant repairs or restores the Property pursuant
to the provisions of this ARTICLE 7:, any rent payable during the period of such damage, repair and /or restoration shall
be reduced according to the degree, if any, to which Tenant’s use of or access to the Property, including the parking areas,
is impaired. Except for such possible reduction in Base Rent and Additional Rent, Tenant shall not be entitled to any compensation,
reduction, or reimbursement from Landlord as a result of any damage, destruction, repair, or restoration of or to the Property.

 

Section 7.04 Insurance
Proceeds. Landlord’s failure to obtain or maintain property insurance as required pursuant to Section 4.04(b) shall
not limit Landlord’s liability therefor. In the event of damage or destruction to the Property, Landlord shall be responsible
for the amount of the insurance proceeds that would have been payable had Landlord obtained the property insurance pursuant to
Section 4.04.

 

ARTICLE 8:
CONDEMNATION. If all or any portion of the Property is taken under the power of eminent domain or sold under the threat
of that power (all of which are called “Condemnation”), this Lease shall terminate as to the part taken or sold on
the date the condemning authority takes title or possession, whichever occurs first. If more than twenty percent (20%) of the floor
area of the building in which the Property is located, or which is located on the Property, or material access to the Property,
is taken, Tenant may terminate this Lease as of the date the condemning authority takes title or possession, by delivering written
notice to the other within twenty (20) days after receipt of written notice of such taking (or in the absence of such notice, within
twenty (20) days after the condemning authority takes title or possession). If Tenant does not terminate this Lease, this Lease
shall remain in effect as to the portion of the Property not taken, except that the Base Rent and Additional Rent shall be reduced
in proportion to the reduction in the floor area of the Property rendered unusable by Tenant. Any Condemnation award or payment
shall be distributed in the following order: (a) first, to Tenant, only the amount of any award specifically designated for
loss of or damage to Tenant’s trade fixtures or removable personal property; and (b) second, to Landlord, the remainder
of such award, whether as compensation for reduction in the value of the leasehold, the taking of the fee, or otherwise. If this
Lease is not terminated, Landlord shall repair any damage to the Property caused by the Condemnation, except that Landlord shall
not be obligated to repair any damage for which Tenant has been reimbursed by the condemning authority. If the severance damages
received by Landlord are not sufficient to pay for such repair, Landlord shall have the right to either terminate this Lease or
make such repair at Landlord’s expense.

 

ARTICLE 9: ASSIGNMENT AND SUBLETTING

 

Section 9.01 Landlord’s
Consent Required. No portion of the Property or of Tenant’s interest in this Lease may be acquired by any other person
or entity, whether by sale, assignment, mortgage, sublease, transfer, operation of law, or act of Tenant, without Landlord’s
prior written consent, except as provided in Section 9.02 below. Landlord has the right to grant or withhold its consent as
provided in Section 9.04 below. Any attempted transfer without consent shall be void and shall constitute a non-curable breach
of this Lease. If Tenant is a partnership, any cumulative transfer of more than twenty percent (20%) of the partnership interests
shall require Landlord’s consent. If Tenant is a corporation, any change in the ownership of a controlling interest of the
voting stock of the corporation shall require Landlord’s consent.

 

Section 9.02 Tenant
Affiliate. Tenant may assign this Lease or sublease the Property without Landlord’s consent, to any corporation which
controls, is controlled by or is under common control with Tenant, or to any corporation resulting from the merger of or consolidation
with Tenant (“Tenant’s Affiliate”). In such case, as a condition to be performed within 30 days of any such assignment
or sublease, Tenant’s Affiliate shall assume in writing all of Tenant’s obligations under this Lease.

 

    8
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

Section 9.03 Conditional
Release of Tenant. No transfer permitted by this ARTICLE 9:, whether with or without Landlord’s consent, shall release
Tenant or change Tenant’s primary liability to pay the rent and to perform all other obligations of Tenant under this Lease
except in the case of an assignment in which the assignee agrees in writing to assume all of Tenant’s obligations and liabilities
under this Lease. Landlord’s acceptance of rent from any other person is not a waiver of any provision of this ARTICLE 9:.
Consent to one transfer is not a consent to any subsequent transfer.

 

Section 9.04 Landlord’s
Consent. Tenant’s request for consent to any transfer described in Section 9.01 shall set forth in writing the details
of the proposed transfer, including the name, business and financial condition of the prospective transferee, financial details
of the proposed transfer (e.g., the term of and the rent and security deposit payable under any proposed assignment or sublease),
and any other information Landlord deems relevant. Landlord shall have the right to withhold consent, if reasonable, or to grant
consent, based on the following factors: (i) the business of the proposed assignee or subtenant and the proposed use of the
Property; (ii) the net worth and financial reputation of the proposed assignee or subtenant; (iii) Tenant’s compliance
with all of its obligations under the Lease; and (iv) such other factors as Landlord may reasonably deem relevant. If Landlord
objects to a proposed assignment solely because of the net worth and/or financial reputation of the proposed assignee, Tenant may
nonetheless sublease (but not assign), all or a portion of the Property to the proposed transferee, but only on the other terms
of the proposed transfer.

 

(a)      If
Tenant assigns or subleases, the following shall apply:

 

(i)    Tenant
shall pay to Landlord as Additional Rent under the Lease the Landlord’s Share (stated in Section 1.13) of the Profit
(defined below) on such transaction as and when received by Tenant, unless Landlord gives written notice to Tenant and the assignee
or subtenant that Landlord’s Share shall be paid by the assignee or subtenant to Landlord directly. The “Profit”
means (A) all amounts paid to Tenant for such assignment or sublease, including “key” money, monthly rent in excess
of the monthly rent payable under the Lease, and all fees and other consideration paid for the assignment or sublease, including
fees under any collateral agreements related to the subtenant’s occupancy rights, less (B) costs and expenses directly
incurred by Tenant in connection with the execution and performance of such assignment or sublease for real estate broker’s
commissions and costs of renovation or construction of tenant improvements required under such assignment or sublease. Tenant is
entitled to recover such costs and expenses before Tenant is obligated to pay the Landlord’s Share to Landlord. The Profit
in the case of a sublease of less than all the Property is the rent allocable to the subleased space as a percentage on a square
footage basis.

 

(ii)   Tenant
shall provide Landlord a written statement certifying all amounts to be paid from any assignment or sublease of the Property within
thirty (30) days after the transaction documentation is signed, and Landlord may inspect Tenant’s books and records to verify
the accuracy of such statement. Landlord’s receipt of Landlord’s Share shall not be a consent to any further assignment
or subletting. The breach of Tenant’s obligation under this Section 9.04(a)(ii) shall be a material default of
the Lease.

 

Section 9.05 No Merger.
No merger shall result from Tenant’s sublease of the Property under this ARTICLE 9:, Tenant’s surrender of
this Lease or the termination of this Lease in any other manner. In any such event, Landlord may terminate any or all subtenancies
or succeed to the interest of Tenant as sublandlord under any or all subtenancies.

 

ARTICLE 10: DEFAULTS; REMEDIES

 

Section 10.01 Time is of
the essence in the performance of all covenants and conditions.

 

Section 10.02 Tenant
Defaults. Tenant shall be in Default of this Lease:

 

(a)      omitted;

 

(b)      If
Tenant fails to pay rent or any other charge when due and such failure continues for an additional five (5) days after Tenant’s
receipt of Landlord’s notice of the nonpayment;

 

(c)      If
Tenant fails to perform any of Tenant’s non-monetary obligations under this Lease for a period of thirty (30) days after
written notice from Landlord; provided that if more than thirty (30) days are required to complete such performance, Tenant shall
not be in default if Tenant commences such performance within the thirty (30) day period and thereafter diligently pursues its
completion. However, no grace period shall apply if Tenant’s failure to perform constitutes a non-curable breach of this
Lease. The notice required by this Section is intended to satisfy any and all notice requirements imposed by law on Landlord
and is not in addition to any such requirement;

 

(d)      If
Tenant makes a general assignment or general arrangement for the benefit of creditors; (ii) if a petition for adjudication
of bankruptcy or for reorganization or rearrangement is filed by or against Tenant and Tenant does not commence action to have
the petition dismissed within sixty (60) days of such filing; (iii) if a trustee or receiver is appointed to take possession
of substantially all of Tenant’s assets located at the Property or of Tenant’s interest in this Lease and Tenant does
not commence action to restore possession within sixty (60) days; or (iv) if substantially all of Tenant’s assets located
at the Property or of Tenant’s interest in this Lease is subjected to attachment, execution or other judicial seizure and
Tenant does not commence action to have the seizure discharged within sixty (60) days. If a court of competent jurisdiction determines
that any of the acts described in this subsection (d) is not a default under this Lease, and a trustee is appointed to take
possession (or if Tenant remains a debtor in possession) and such trustee or Tenant transfers Tenant’s interest hereunder,
then Landlord shall receive, as Additional Rent, the excess, if any, of the rent (or any other consideration) paid in connection
with such assignment or sublease over the rent payable by Tenant under this Lease; or

    9
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

(e)      If
any guarantor of the Lease revokes or otherwise terminates, or purports to revoke or otherwise terminate, any guaranty of all or
any portion of Tenant’s obligations under the Lease. Unless otherwise expressly provided, no guaranty of the Lease is revocable.

 

Section 10.03 Landlord
Default. Landlord shall be in default if Landlord fails to perform any of Landlord’s obligations under this Lease for a period
of thirty (30) days after written notice from Tenant provided that if more than thirty (30) days are required to complete such
performance, Landlord shall not be in default if Landlord commences such performance within the thirty (30) day period and thereafter
diligently pursues its completion. However, no grace period shall apply if Landlord’s failure to perform constitutes a non-curable
breach of this Lease. Upon a default by Landlord, Tenant shall have all rights available to it at law and in equity.

 

Section 10.04 Remedies.
On the occurrence of any default by Tenant, Landlord may, at any time thereafter, with or without notice or demand and without
limiting Landlord in the exercise of any right or remedy which Landlord may have:

 

(a)      Terminate
Tenant’s right to possession of the Property by any lawful means, in which case this Lease shall terminate and Tenant shall
immediately surrender possession of the Property to Landlord. In such event, Landlord shall be entitled to recover from Tenant
all damages incurred by Landlord by reason of Tenant’s default, including (i) the worth at the time of the award of
the unpaid Base Rent, Additional Rent and other charges which Landlord had earned at the time of the termination; (ii) the
worth at the time of the award of the amount by which the unpaid Base Rent, Additional Rent and other charges which Landlord would
have earned after termination until the time of the award exceeds the amount of such rental loss that Tenant proves Landlord could
have reasonably avoided; (iii) the worth at the time of the award of the amount by which the unpaid Base Rent, Additional
Rent and other charges which Tenant would have paid for the balance of the Lease Term after the time of award exceeds the amount
of such rental loss that Tenant proves Landlord could have reasonably avoided; and (iv) any other amount necessary to compensate
Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease or which
in the ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses Landlord
incurs in maintaining or preserving the Property after such default, the cost of recovering possession of the Property, expenses
of reletting, including necessary renovation or alteration of the Property, Landlord’s reasonable attorneys’ fees incurred
in connection therewith, and any real estate commission paid or payable. As used in subparts (i) and (ii) above, the
 “worth at the time of the award” is computed by allowing interest on unpaid amounts at the rate of ten percent (10%)
per annum, or such lesser amount as may then be the maximum lawful rate. As used in subpart (iii) above, the “worth
at the time of the award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San
Francisco at the time of the award, plus one percent (1%). Landlord shall use best efforts to mitigate its damages in the event
of any default by Tenant;

 

(b)      Maintain
Tenant’s right to possession, in which case this Lease shall continue in effect whether or not Tenant has abandoned the Property.
In such event, Landlord shall be entitled to enforce all of Landlord’s rights and remedies under this Lease, including the
right to recover the rent as it becomes due; and/or

 

(c)      Pursue
any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Property
is located.

 

Section 10.05 Repayment
of “Free” Rent. If this Lease provides for a postponement of any monthly rental payments, a period of “free”
rent or other rent concession, such postponed rent or “free” rent is called the “Abated Rent”. Tenant shall
be credited with having paid all of the Abated Rent on the expiration of the Lease Term only if Tenant has fully, faithfully, and
punctually performed all of Tenant’s obligations hereunder, including the payment of all rent (other than the Abated Rent)
and all other monetary obligations and the surrender of the Property in the physical condition required by this Lease. Tenant acknowledges
that its right to receive credit for the Abated Rent is absolutely conditioned upon Tenant’s full, faithful and punctual
performance of its obligations under this Lease. If Tenant defaults and does not cure within any applicable grace period, the Abated
Rent shall immediately become due and payable in full and this Lease shall be enforced as if there were no such rent abatement
or other rent concession.

 

Section 10.06 Cumulative
Remedies. Landlord’s exercise of any right or remedy shall not prevent it from exercising any other right or remedy.

 

ARTICLE 11: PROTECTION
OF LENDER

 

Section 11.01 Subordination. Landlord
shall have the right to subordinate this Lease to any ground lease, deed of trust or mortgage encumbering the Property, any
advances made on the security thereof and any renewals, modifications, consolidations, replacements or extensions thereof,
whenever made or recorded. Tenant shall cooperate with Landlord and any lender which is acquiring a security interest in the
Property or the Lease. Tenant shall execute such further documents and assurances as such lender may require, provided that
Tenant’s obligations under this Lease shall not be increased in any material way (the performance of ministerial acts
shall not be deemed material), and Tenant shall not be deprived of its rights under this Lease. Tenant’s right to quiet
possession of the Property during the Lease Term shall not be disturbed if Tenant pays the rent and performs all of
Tenant’s obligations under this Lease and is not otherwise in default, subject to any rights of offset or deduction and
subject to any defenses under the Lease. If any ground lessor, beneficiary or mortgagee elects to have this Lease prior to
the lien of its ground lease, deed of trust or mortgage and gives written notice thereof to Tenant, this Lease shall be
deemed prior to such ground lease, deed of trust or mortgage whether this Lease is dated prior or subsequent to the date of
said ground lease, deed of trust or mortgage or the date of recording thereof.

 

    10
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

Section 11.02 Attornment.
If Landlord’s interest in the Property is acquired by any ground lessor, beneficiary under a deed of trust, mortgagee,
or purchaser at a foreclosure sale, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Property
and recognize such transferee or successor as Landlord under this Lease provided the transferee agrees in writing to recognize
Tenant’s rights under the Lease and assume Landlord’s obligations hereunder. Subject to execution of a nondisturbance
agreement in form reasonably satisfactory to Tenant, Tenant waives the protection of any statute or rule of law which gives
or purports to give Tenant any right to terminate this Lease or surrender possession of the Property upon the transfer of Landlord’s
interest.

 

Section 11.03 Signing
of Documents. Tenant shall sign and deliver any instrument or documents necessary or appropriate to evidence any such attornment
or subordination or agreement to do so. If Tenant fails to respond within twenty (20) days after written request, Landlord may
treat such failure constitute a material default under this lease and if the default is not timely cured, enforce all of its remedies
hereunder.

 

Section 11.04 Estoppel
Certificates.

 

(a)      Upon
Landlord’s written request, Tenant shall execute, acknowledge and deliver to Landlord a written statement in form reasonably
satisfactory to Tenant certifying: (i) that none of the terms or provisions of this Lease have been changed (or if they have
been changed, stating how they have been changed); (ii) that this Lease has not been canceled or terminated; (iii) the
last date of payment of the Base Rent and other charges and the time period covered by such payment; (iv) that Landlord is
not in default under this Lease (or, if Landlord is claimed to be in default, stating why); and (v) such other representations
or information with respect to the status of the Lease as Landlord may reasonably request or which any prospective purchaser or
encumbrancer of the Property may require. Tenant shall deliver such statement to Landlord within twenty (20) days after Landlord’s
request. Landlord may give any such statement by Tenant to any prospective purchaser or encumbrancer of the Property. Such purchaser
or encumbrancer may rely conclusively upon such statement as true and correct.

 

(b)      If
Tenant does not deliver such statement to Landlord within such twenty (20)-day period, Landlord, and any prospective purchaser
or encumbrancer, may conclusively presume and rely upon the following facts: (i) that the terms and provisions of this Lease
have not been changed except as otherwise represented by Landlord; (ii) that this Lease has not been canceled or terminated
except as otherwise represented by Landlord; (iii) that not more than one month’s Base Rent or other charges have been
paid in advance; and (iv) that Landlord is not in default under the Lease.

 

Section 11.05 Tenant’s
Financial Condition. Within twenty (20) days after written request from Landlord, Tenant shall deliver to Landlord its most
recent financial statements as Landlord reasonably requires to verify the net worth of Tenant or any assignee, subtenant, or guarantor
of Tenant. In addition, Tenant shall deliver to any lender designated by Landlord any such financial statements required by such
lender to facilitate the financing or refinancing of the Property. All financial statements shall be confidential and shall be
used only for the purposes set forth in this Lease.

 

ARTICLE 12: LEGAL COSTS

 

Section 12.01 Legal
Proceedings. If Tenant or Landlord shall be in breach or default under this Lease, such party (the “Defaulting Party”)
shall reimburse the other party (the “Nondefaulting Party”) upon demand for any costs or expenses that the Nondefaulting
Party incurs in connection with any breach or default of the Defaulting Party under this Lease, whether or not suit is commenced
or judgment entered. Such costs shall include legal fees and costs incurred for the negotiation of a settlement, enforcement of
rights or otherwise. Furthermore, if any action for breach of or to enforce the provisions of this Lease is commenced, the court
in such action shall award to the party in whose favor a judgment is entered, a reasonable sum as attorneys fees and costs. The
losing party in such action shall pay such attorneys fees and costs. Tenant shall also indemnify Landlord against and hold Landlord
harmless from all costs, expenses, demands and liability Landlord may incur if Landlord becomes or is made a party to any claim
or action (a) instituted by Tenant against any third party, or by any third party against Tenant, or by or against any person
holding any interest under or using the Property by license of or agreement with Tenant; or (b) for foreclosure of any lien
for labor or material furnished to or for Tenant or such other person. Tenant shall defend Landlord against any such claim or action
at Tenant’s expense with counsel reasonably acceptable to Landlord or, at Landlord’s election, Tenant shall reimburse
Landlord for any legal fees or costs Landlord incurs in any such claim or action.

 

Section 12.02 Landlord’s
Consent. Tenant shall pay Landlord’s reasonable attorneys fees incurred in connection with Tenant’s request for
Landlord’s consent under ARTICLE 9: (Assignment and Subletting), not to exceed Two Thousand Five Hundred Dollars ($2,500).

 

ARTICLE 13: MISCELLANEOUS
PROVISIONS

 

Section 13.01 Omitted.

 

    11
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

Section 13.02 Landlord’s
Liability; Certain Duties.

 

(a)   As
used in this Lease, the term “Landlord” means only the current owner or owners of the fee title to the Property
or Project or the leasehold estate under a ground lease of the Property or Project at the time in question. Each Landlord is
obligated to perform the obligations of Landlord under this Lease only during the time such Landlord owns such interest or
title. Any Landlord who transfers its title or interest is relieved of all liability with respect to the obligations of
Landlord under this Lease to be performed on or after the date of transfer. However, each Landlord shall deliver to its
transferee all funds that Tenant previously paid if such funds have not yet been applied under the terms of this Lease.

 

(b)      Tenant
shall give written notice of any failure by Landlord to perform any of its obligations under this Lease to Landlord and to any
ground lessor, mortgagee or beneficiary under any deed of trust encumbering the Property whose name and address have been furnished
to Tenant in writing. Landlord shall not be in default under this Lease unless Landlord (or such ground lessor, mortgagee or beneficiary)
fails to cure such non-performance within thirty (30) days after receipt of Tenant’s notice. However, if such non-performance
reasonably requires more than thirty (30) days to cure, Landlord shall not be in default if such cure is commenced within such
thirty (30) -day period and thereafter diligently pursued to completion.

 

(c)      Notwithstanding
any term or provision here into the contrary the liability of Landlord for the performance of its duties and obligations under
this Lease is limited to Landlord’s interest in the Property and the Project, and neither the Landlord nor its partners,
shareholders, officers or other principals shall have any personal liability under this Lease. For purposes of this Section 13.02(c),
 “interest in the Property and Project” shall mean sales proceeds, insurance proceeds, condemnation awards, and rental
income attributable to the Project.

 

Section 13.03 Severability.
A determination by a court of competent jurisdiction that any provision of this Lease or any part thereof is illegal or unenforceable
shall not cancel or invalidate the remainder of such provision or this Lease, which shall remain in full force and effect.

 

Section 13.04 Interpretation.
The captions of the Articles or Sections of this Lease are to assist the parties in reading this Lease and are not a part of
the terms or provisions of this Lease. Whenever required by the context of this Lease, the singular shall include the plural and
the plural shall include the singular. The masculine, feminine and neuter genders shall each include the other In any provision
relating to the conduct, acts or omissions of Tenant, the term “Tenant” shall include Tenant’s agents, employees,
contractors, invitees, successors or others using the Property with Tenant’s expressed or implied permission.

 

Section 13.05 Incorporation
of Prior Agreements; Modifications. This Lease is the only agreement between the parties pertaining to the lease of the Property
and no other agreements are effective. All amendments to this Lease shall be in writing and signed by all parties. Any other attempted
amendment shall be void.

 

Section 13.06 Notices.
All notices required or permitted under this Lease shall be in writing and shall be personally delivered, sent by a national
overnight courier or by certified mail, return receipt requested, postage prepaid. Notices to Tenant shall be delivered to the
address specified in Section 1.03 above, with an email copy sent to legal@lucidmotors.com. All notices shall be effective
upon delivery. Either party may change its notice address upon written notice to the other party.

 

Section 13.07 Waivers.
Landlord’s failure to enforce any provision of this Lease or its acceptance of rent shall not be a waiver and shall not
prevent Landlord from enforcing that provision or any other provision of this Lease in the future. No statement on a payment check
from Tenant or in a letter accompanying a payment check shall be binding on Landlord. Landlord may, with or without notice to Tenant,
negotiate such check without being bound to the conditions of such statement.

 

Section 13.08 No Recordation.
Tenant shall not record this Lease without prior written consent from Landlord. However, either Landlord or Tenant may require
that a “Short Form” memorandum of this Lease executed by both parties be recorded. The party requiring such recording
shall pay all transfer taxes and recording fees.

 

Section 13.09 Binding
Effect; Choice of Law. This Lease binds any party who legally acquires any rights or interest in this Lease from Landlord or
Tenant. However, Landlord shall have no obligation to Tenant’s successor unless the rights or interests of Tenant’s
successor are acquired in accordance with the terms of this Lease. The laws of Arizona shall govern this Lease. Notwithstanding
the foregoing, Tenant may have claims under the terms of this Lease which involve amounts which are not liquidated. The Tenant
agrees that it shall be entitled to reduce or offset an obligation of the Landlord to the Tenant with respect to such unless and
until they are liquidated, but only the unliquidated amount shall be deferred until liquidation.

 

Section 13.10 Corporate
Authority; Partnership Authority. Each person signing this Lease on behalf of its respective party represents and warrants
to the other party that such individual has full authority to do so and that this Lease binds the named party.

 

Section 13.11 Joint
and Several Liability. All parties signing this Lease as Tenant shall be jointly and severally liable for all obligations of
Tenant.

 

Section 13.12 Force
Majeure. If either party cannot perform any of its obligations due to acts of God, war, civil commotion, labor disputes, strikes,
fire, flood or other casualty, shortages of labor or material, government regulation or restriction and weather conditions, the
time provided for performing such obligations shall be extended by a period of time equal to the duration of such events.

 

Section 13.13
Execution of Lease. This Lease may be executed in counterparts and in digital or PDF format and, when all counterpart documents
are executed, the counterparts shall constitute a single binding instrument. Landlord’s delivery of this Lease to Tenant
shall not be deemed to be an offer to lease and shall not be binding upon either party until executed and delivered by both parties.

    12
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

Section 13.14 Survival.
All representations and warranties of Landlord and Tenant shall survive the termination of this Lease. All rights of Tenant
to receive reimbursement or credits against Base Rent shall survive the termination of this Lease.

 

Section 13.15 Confidentiality.
Landlord shall not make public announcements regarding Tenant’s proposed or actual occupancy of the Property without
Tenant’s prior consent. All information specifically labeled as “confidential” or that would reasonably be presumed
to be confidential, including all nonpublic information relating to Tenant’s technology, operations, suppliers, business
plans, finances and other business affairs (“Confidential Information”), that is learned by or disclosed to Landlord
with respect to Tenant’s business in connection with this leasing transaction shall be kept strictly confidential by Landlord
and shall not be used (except for Landlord’s confidential internal purposes or as otherwise required by applicable laws)
or disclosed to others by Landlord, without the express prior consent of Tenant. The provisions of this Section shall survive
for one (1) year following the expiration or termination of this Lease and shall continue to bind Landlord after Landlord’s
conveyance of the Project or any portion thereof. For purposes of this Section 13.15, “Landlord” shall also mean
Landlord’s employees, contractors, vendors, agents, property managers, and brokers.

 

Section 13.16 Consequential
Damages. Neither Landlord nor Tenant shall be liable to the other for consequential damages, such as lost profits or interruption
of either party’s business, except that this sentence (i) shall not limit the indemnification obligations of either
party under this Lease with respect to third party claims, and (ii) shall not apply to Landlord’s breach of its confidentiality
obligations under this Lease.

 

Section 13.17 Foreign
Trade Zone. Landlord acknowledges Tenant may use a portion or all of the Property as a foreign trade zone (“FTZ”).
Landlord will reasonably cooperate with Tenant and Tenant’s FTZ consultant, at no additional cost to Landlord, in securing
and maintaining FTZ status for the Property. Such actions may include, without limitation, enforcing Tenant’s reasonable
security rules and regulations with respect to the Property.

 

ARTICLE 14: BROKERS

 

Section 14.01 Broker
 – Owner/Agent. Harrison Properties, LLC (“HP”) is a licensed real estate broker. HP’s primary owner
is James D. Harrison, Jr. (“Harrison”) who is not licensed. Its designated broker is Natalie Dalton (collectively
the “Broker”) and HP provides leasing services for Landlord. HP is paid a management fee for managing the Property.
None of HP, Harrison or the Broker are paid any commission or fee for the Lease. Moreover, one or more of HP, Harrison and the
Broker are part owners of the Landlord.

 

Section 14.02 Broker’s
Fee. When this Lease is signed by and delivered to both Landlord and Tenant, Landlord shall pay a real estate commission to
Tenant’s Broker named in Error! Reference source not found. above, if any, as provided in the written agreement between
Landlord and such Broker for services rendered to Tenant by Tenant’s Broker in this transaction.

 

Section 14.03 No Other
Brokers. Landlord and Tenant each warrant that they have dealt with no other real estate broker(s) in connection with
this transaction except HP, the HP Agents and the Broker identified in Error! Reference source not found..

 

ARTICLE 15:
COMPLIANCE The parties hereto agree to comply with all applicable federal, state and local laws, regulations, codes,
ordinances and administrative orders having jurisdiction over the parties, property or the subject matter of this Agreement, including,
but not limited to, the 1964 Civil Rights Act and all amendments thereto, the Foreign Investment In Real Property Tax Act, the
Comprehensive Environmental Response Compensation and Liability Act, and The Americans With Disabilities Act.

 

ADDITIONAL PROVISIONS MAY BE SET FORTH IN A RIDER OR RIDERS
ATTACHED HERETO OR IN THE BLANK SPACE BELOW.

 

ARTICLE 16: RENTAL ABATEMENT

 

Base rent will be abated February 2020 and March 2020.
Tenant will be responsible to pay utilities during abatement period.

 

ARTICLE 17: TENANT IMPROVEMENTS

 

Landlord will provide a tenant improvement allowance equal to
One Million Two Hundred Thousand Five Hundred Five Dollars and No/100 ($1,200,505.00) to be used for evaporative cooling, fans,
dock equipment, modification of parking lot, signage, office buildout, electrical distribution, compressed air network and equipment
foundations. The tenant improvement allowance will be paid within thirty (30) days of Tenant’s written request therefor,
along with unconditional lien waivers, or conditional lien waivers and proof that Tenant has paid for such portion of the work,
for which it seeks reimbursement.

 

    13
	Initials             	(Multi-Tenant Gross Form 3/12/12)	Initials              	 

     

    

 

ARTICLE 18: OPTIONS

 

Provided Tenant is not in default under any of the
current lease provisions, Landlord will grant two (2) one (5) year options to renew, Tenant must provide Landlord with
a six (6) month written notice to exercise each option.

 

4/1/25 – 3/31/30                     $85,545.45
psf gross plus any additional sales and/or rental tax

 

4/1/30 – 3/31/35                     $95,050.50
psf gross plus any additional sales and/or rental tax

 

Landlord and Tenant have signed this Lease on or before
the date specified in Error! Reference source not found. and have initialed all Riders which are attached to or incorporated
by reference in this Lease.

 

	 	“LANDLORD”	 	“TENANT”
	 	 	 	 	 
	 	CADC Partners, LLC,	 	Atieva USA, Inc.
	 	an Arizona limited liability company	 	a Delaware Corporation
	 	 	 	 	 
	By:	/s/ James D. Harrison          	 	By:	/s/ Peter Rawlinson
	 	James D. Harrison Jr., President 	 	Peter Rawlinson, CEO
	 	 	 	 	 
	Date:	1-23-2020	 	Date:	1-17-20
	 	 	 	 	 

 

IN ANY REAL ESTATE TRANSACTION, IT IS RECOMMENDED THAT
YOU CONSULT WITH A PROFESSIONAL, SUCH AS A CIVIL ENGINEER, INDUSTRIAL HYGIENIST OR OTHER PERSON WITH EXPERIENCE IN EVALUATING
THE CONDITION OF THE PROPERTY, INCLUDING THE POSSIBLE PRESENCE OF ASBESTOS, HAZARDOUS MATERIALS AND UNDERGROUND STORAGE TANKS.
THIS PRINTED FORM LEASE HAS BEEN DRAFTED BY LEGAL COUNSEL FOR THE LANDLORD. NO REPRESENTATION OR RECOMMENDATION IS MADE BY
SUCH LEGAL COUNSEL, THE LANDLORD, THE REAL ESTATE BROKERS NAMED HEREIN, OR THEIR EMPLOYEES OR AGENTS, AS TO THE LEGAL SUFFICIENCY,
LEGAL EFFECT OR TAX CONSEQUENCES OF THIS LEASE

 

    14
	Initials 	(Multi-Tenant Gross Form 3/12/12)	Initials

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00324-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00324-of-00352.parquet"}]]