Document:

<PAGE>

                                                                   Exhibit 10.14

                               AGREEMENT OF LEASE

                                     between

                       Forest City Myrtle Associates, LLC
                                   as Landlord

                                      -and-

             Empire HealthChoice, Inc. d/b/a Blue Cross Blue Shield
                                   as Tenant

                          Dated: As of January 17, 2002

                           Nine Metrotech Center South
                               Brooklyn, New York

<PAGE>
                                TABLE OF CONTENTS
<TABLE>
<CAPTION>
                                                                           Page
                                Table of Contents
                                -----------------
<S>                                                                         <C>
ARTICLE 1  PREMISES, TERM AND RENT ........................................    1
ARTICLE 2  USE OF PREMISES ................................................    3
ARTICLE 3  TAXES AND OPERATING EXPENSES ESCALATIONS .......................    6
ARTICLE 4  ELECTRICITY ....................................................   15
ARTICLE 5  INDEMNITY ......................................................   17
ARTICLE 6  QUIET ENJOYMENT ................................................   18
ARTICLE 7  ASSIGNMENT, SUBLETTING AND MORTGAGING ..........................   18
ARTICLE 8  SERVICES .......................................................   25
ARTICLE 9  BROKERAGE ......................................................   29
ARTICLE 10 ACCESS, NAME OF BUILDING AND SIGNAGE ...........................   29
ARTICLE 11 EXCULPATION ....................................................   33
ARTICLE 12 SUBMISSION TO JURISDICTION .....................................   34
ARTICLE 13 CONDITION OF THE PREMISES; BUILDING;
           CERTIFICATES OF OCCUPANCY ......................................   34
ARTICLE 14 RESTRICTIONS ON LANDLORD .......................................   34
ARTICLE 15 TENANT CHANGES .................................................   35
ARTICLE 16 BASE BUILDING WORK; TENANT INITIAL WORK ........................   39
ARTICLE 17 INSURANCE ......................................................   59
ARTICLE 18 TENANT'S PROPERTY ..............................................   63
ARTICLE 19 REPAIRS AND MAINTENANCE ........................................   63
ARTICLE 20 RULES AND REGULATIONS ..........................................   65
ARTICLE 21 COMPLIANCE WITH LAWS; MECHANIC'S LIENS .........................   66
ARTICLE 22 ESTOPPEL CERTIFICATE ...........................................   67
ARTICLE 23 HOLDOVER .......................................................   67
ARTICLE 24 CONDITIONS OF LIMITATION .......................................   68
ARTICLE 25 REENTRY BY LANDLORD ............................................   70
ARTICLE 26 DAMAGES ........................................................   71
ARTICLE 27 LEGAL RENT RESTRICTION .........................................   73
ARTICLE 28 SURRENDER ......................................................   73
ARTICLE 29 CURING TENANT'S DEFAULTS; CURING LANDLORD'S DEFAULTS ...........   73
ARTICLE 30 DAMAGE OR DESTRUCTION ..........................................   74
ARTICLE 31 EMINENT DOMAIN .................................................   77
ARTICLE 32 SUBORDINATION, ATTORNMENT ......................................   78
ARTICLE 33 NOTICES ........................................................   79
ARTICLE 34 EXPEDITED CONSTRUCTION ARBITRATION .............................   81
ARTICLE 35 GENERAL ARBITRATION ............................................   82
ARTICLE 36 DEFINITIONS ....................................................   84
ARTICLE 37 PARKING GARAGE .................................................   86
ARTICLE 38 COMMUNICATIONS EQUIPMENT AND ANTENNA ...........................   86
ARTICLE 39 EXTENSION OF TERM ..............................................   88
ARTICLE 40 EARLY EXPANSION RIGHTS AND REDUCTION RIGHTS; EXPANSION
           OPTIONS ........................................................   90
ARTICLE 41 RIGHT OF FIRST OFFER ...........................................   93
ARTICLE 42 MISCELLANEOUS PROVISIONS .......................................   95

LIST OF EXHIBITS:
Exhibit A - Floor Plans of the Premises
---------
Exhibit B - Construction Schedule
---------
Exhibit C - Form of Letter of Credit
---------
Exhibit D - Sample Statement Detail
---------
Exhibit E - List of Holidays
---------
Exhibit F - Cleaning Specifications
---------
Exhibit G - Louver Locations
---------
Exhibit H - INTENTIONALLY OMITTED
---------
Exhibit I - INTENTIONALLY OMITTED
---------
Exhibit J - Base Building Work Letter
---------
Exhibit K - INTENTIONALLY OMITTED
---------
</TABLE>
                                      -i-

<PAGE>

                                TABLE OF CONTENTS
                                   (continued)

<TABLE>
<CAPTION>
                                                                        Page
<S>                                                                     <C>
Exhibit L - Building and Project Signage Criteria
---------
Exhibit M - List of Agencies
---------
Exhibit N - Base Building Enhancements
---------
Exhibit O - List of Approved Contractors and Subcontractors
---------
Exhibit P - Landlord's Construction Rules and Regulations
---------
Exhibit Q - Rules and Regulations
---------
Exhibit R - Site Plan of Metrotech Center
---------
Exhibit S - INTENTIONALLY OMITTED
---------
Exhibit T - INTENTIONALLY OMITTED
---------
Exhibit U - Tenant's Minimum Security Specifications
---------
</TABLE>

                                      -ii-

<PAGE>

                              LIST OF DEFINED TERMS

<TABLE>
<CAPTION>
TERM                                                                        PAGE
----                                                                        ----
<S>                                                                         <C>
"additional electrical equipment" ........................................    17
 -------------------------------
"Additional Rent" ........................................................     2
 ---------------
"Affiliate" ..............................................................    19
 ---------
"and/or" .................................................................    85
 ------
"Antenna" ................................................................    88
 -------
"Approved List." .........................................................    37
 -------------
"Arbitrator" .............................................................    83
 ----------
"Assignment Expenses." ...................................................    23
 -------------------
"Assignment Proceeds" ....................................................    23
 -------------------
"bankruptcy or insolvency law" ...........................................    69
 ----------------------------
"Base Allowance" .........................................................    58
 --------------
"Base Building Architect" ................................................    49
 -----------------------
"Base Building CD's" .....................................................    49
 ------------------
"Base Building Enhancements" .............................................    48
 --------------------------
"Base Building Work" .....................................................    48
 ------------------
"Base Building Work Letter" ..............................................    48
 -------------------------
"Base Operating Expense Year" ............................................    10
 ---------------------------
"Base Year Operating Expenses" ...........................................    10
 ----------------------------
"Base Year Taxes" ........................................................     6
 ---------------
"BID Assessment" .........................................................    10
 --------------
"Brokers" ................................................................    29
 -------
"Building" ...............................................................     1
 --------
"Building Operating Expenses" ............................................    10
 ---------------------------
"Bureau" .................................................................    89
 ------
"Business Days" ..........................................................    25
 -------------
"Business Hours" .........................................................    25
 --------------
"CAM Agreement" ..........................................................    13
 -------------
"CAM Operating Expenses" .................................................    13
 ----------------------
"Change Order" ...........................................................    51
 ------------
"City" ...................................................................     2
 ----
"Commence(d) Construction of the Building" ...............................    45
 ----------------------------------------
"Commencement Date" ......................................................    40
 -----------------
"Commencement of Construction and Financing Date" ........................    45
 -----------------------------------------------
"Commencement of Construction of the Building" ...........................    45
 --------------------------------------------
"Completion Guaranty" ....................................................    55
 -------------------
"Confirmation Notice" ....................................................    43
 -------------------
"Construction Rules and Regulations" .....................................    38
 ----------------------------------
"Construction Schedule" ..................................................    45
 ---------------------
"control" ................................................................    19
 -------
"Delivery Conditions" ....................................................    40
 -------------------
"dining facilities" ......................................................     3
 -----------------
"Dispute Notice" .........................................................    82
 --------------
"Early Expansion Notice" .................................................    91
 ----------------------
"Early Expansion Space" ..................................................    91
 ---------------------
"EDC" ....................................................................    98
 ---
"Emergency Lighting Systems" .............................................    16
 --------------------------
"Environmental Legal Requirements" .......................................     5
 --------------------------------
"Escrow Agreement" .......................................................    45
 ----------------
"Estimated Operating Expense Statement" ..................................    13
 -------------------------------------
"Estimated Tax Statement" ................................................     8
 -----------------------
"Event of Default" .......................................................    69
 ----------------
"Excluded Impositions" ...................................................     7
 --------------------
"Expansion Space" ........................................................    93
 ---------------
"Expiration Date" ........................................................     1
 ---------------
"Extension Term" .........................................................    89
 --------------
"Facility" ...............................................................    89
 --------
"Facility Operators" .....................................................    89
 ------------------
"fair market rent" .......................................................    90
 ----------------
</TABLE>

                                      -i-

<PAGE>

<TABLE>
<CAPTION>
TERM                                                                       PAGE
----                                                                       ----
<S>                                                                        <C>
"Final Working Drawings" ............................................        37
 ----------------------
"First Extension Floor(s)" ..........................................        90
 -----------------------
"First Extension Notice" ............................................        90
 ----------------------
"First Extension Term" ..............................................        90
 --------------------
"Fixed Rent" ........................................................         1
 ----------
"force majeure" .....................................................        85
 -------------
"Ground Lease" ......................................................         3
 ------------
"Guarantor" .........................................................        34
 ---------
"Hazardous Materials" ...............................................         5
 -------------------
"herein" ............................................................        85
 ------
"hereof" ............................................................        85
 ------
"hereunder" .........................................................        85
 ---------
"HVAC" ..............................................................        26
 ----
"Incomplete Work" ...................................................        44
 ---------------
"Index" .............................................................        85
 -----
"Initial Base Building Work" ........................................        43
 --------------------------
"Initial Notice" ....................................................        43
 --------------
"Institutional Lender" ..............................................        45
 --------------------
"Insurable Value" ...................................................        62
 ---------------
"Insurance Requirements" ............................................        85
 ----------------------
"Interest Rate" .....................................................        86
 -------------
"Land" ..............................................................         7
 ----
"Landlord" ..........................................................         1
 --------
"Landlord Common Areas" .............................................         5
 ---------------------
"Landlord Delay" ....................................................        54
 --------------
"Landlord hereby indemnifies Tenant against liability" ..............        87
 ----------------------------------------------------
"Landlord Parties" ..................................................        86
 ----------------
"Landlord shall not have liability to Tenant" .......................        86
 -------------------------------------------
"Landlord's Construction Rules and Regulations" .....................        55
 ---------------------------------------------
"Landlord's Engineer" ...............................................        37
 -------------------
"Landlord's Share" ..................................................        58
 ----------------
"legal rent restriction" ............................................        74
 ----------------------
"Legal Requirements" ................................................        86
 ------------------
"Letter of Credit" ..................................................        98
 ----------------
"Long Lead Work" ....................................................        77
 --------------
"Material Net Worth" ................................................        25
 ------------------
"material part" .....................................................        78
 -------------
"Material Tenant Changes" ...........................................        36
 -----------------------
"materially interfere" ..............................................        42
 --------------------
"Monitor" ...........................................................        89
 -------
"Mortgage" ..........................................................        79
 --------
"Mortgagee" .........................................................        79
 ---------
"Mortgagee Parties" .................................................        86
 -----------------
"Mortgages" .........................................................        79
 ---------
"negotiating" .......................................................        22
 -----------
"negotiations" ......................................................        22
 ------------
"Non-Disturbance Agreement" .........................................        79
 -------------------------
"notices" ...........................................................        81
 -------
"Offering Space" ....................................................        94
 --------------
"Offering Space Inclusion Date" .....................................        95
 -----------------------------
"Offering Space Notice" .............................................        95
 ---------------------
"Operating Expense Statement" .......................................        14
 ---------------------------
"Operating Expense Year" ............................................        13
 ----------------------
"Operation of the Property" .........................................        10
 -------------------------
"Operational Hazardous Materials" ...................................         5
 -------------------------------
"Operator" ..........................................................        87
 --------
"Outside Ready for Delivery Date" ...................................        45
 -------------------------------
"Permitted Tenant Changes." .........................................        36
 -------------------------
"Person" ............................................................        86
 ------
"PILOT" .............................................................         7
 -----
"Post Delivery Base Building Work" ..................................        42
 --------------------------------
"predecessor tenants" ...............................................        24
 -------------------
</TABLE>

                                      -ii-

<PAGE>

<TABLE>
<CAPTION>
TERM                                                                      PAGE
----                                                                      ----
<S>                                                                       <C>
"Preliminary Notice"....................................................      43
 ------------------
"Premises"..............................................................       1
 --------
"Proceeding"............................................................       9
 ----------
"Program"...............................................................      89
 -------
"Project"...............................................................      86
 -------
"Projected Completion Date(s)"..........................................      45
 ----------------------------
"Protected Occupant"....................................................      22
 ------------------
"Protest"...............................................................       9
 -------
"Punch List Items"......................................................      43
 ----------------
"Ready for Delivery"....................................................      40
 ------------------
"Ready for Delivery Notice".............................................      43
 -------------------------
"Real Property".........................................................       7
 -------------
"Recipient".............................................................      68
 ---------
"Reduction Notice"......................................................      92
 ----------------
"Reduction Space".......................................................      92
 ---------------
"reenter"...............................................................      72
 -------
"Rent"..................................................................       2
 ----
"Rent Commencement Date"................................................       1
 ----------------------
"Rentalized Amount".....................................................      58
 -----------------
"Rentalized Interest Rate"..............................................       2
 ------------------------
"Reorganization"........................................................      19
 --------------
"ROFO"..................................................................      95
 ----
"Rules and Regulations".................................................      66
 ---------------------
"Second Extension Floor(s)".............................................      90
 -------------------------
"Second Extension Notice"...............................................      90
 -----------------------
"Second Extension Term".................................................      90
 ---------------------
"Service Facilities"....................................................      30
 ------------------
"Special Initial Work"..................................................      61
 --------------------
"Special Tenant Changes"................................................      36
 ----------------------
"Special Work Coverage".................................................      62
 ---------------------
"Statement".............................................................      14
 ---------
"Sublease Rental Factor"................................................      25
 ----------------------
"Subletting Expenses"...................................................      24
 -------------------
"Subletting Proceeds"...................................................      24
 -------------------
"Substantial Completion of Restoration".................................      76
 -------------------------------------
"substantially complete(d)".............................................      43
 -------------------------
"Substantially Completed for Restoration Purposes"......................      76
 ------------------------------------------------
"substantially damaged".................................................      76
 ---------------------
"successor corporation or partnership"..................................      19
 ------------------------------------
"Successor Landlord"....................................................      80
 ------------------
"such consent shall not be unreasonably withheld".......................      86
 -----------------------------------------------
"Superior Leases".......................................................      79
 ---------------
"Superior Lessor Parties"...............................................      86
 -----------------------
"Superior Lessor,"......................................................      79
 ----------------
"Tax Base Year".........................................................       7
 -------------
"Tax Due Date"..........................................................       8
 ------------
"Tax Statement".........................................................       8
 -------------
"Tax Year"..............................................................       7
 --------
"Taxes".................................................................       7
 -----
"TCO"...................................................................      41
 ---
"Tenant"................................................................       1
 ------
"Tenant Change".........................................................      36
 -------------
"Tenant Delay"..........................................................      53
 ------------
"Tenant Exclusive Use Areas"............................................       5
 --------------------------
"Tenant hereby indemnifies Landlord against liability"..................      87
 ----------------------------------------------------
"Tenant Initial Work Allowance".........................................      58
 -----------------------------
"Tenant Initial Work Cost"..............................................      50
 ------------------------
"Tenant Initial Work"...................................................  36, 56
 -------------------
"Tenant Notice".........................................................      21
 -------------
"Tenant Parties"........................................................      87
 --------------
"Tenant Restoration Delays".............................................      77
 -------------------------
"Tenant's Acceptance Notice"............................................      95
 --------------------------
</TABLE>

                                      -iii-

<PAGE>

<TABLE>
<CAPTION>
TERM                                                                        PAGE
----                                                                        ----
<S>                                                                         <C>
"Tenant's Architect" ......................................................   37
 ------------------
"Tenant's Construction Representative" ....................................   56
 ------------------------------------
"Tenant's Designated Mechanical Space" ....................................   86
 ------------------------------------
"Tenant's Designated Roof Space" ..........................................   87
 ------------------------------
"Tenant's Engineer" .......................................................   57
 -----------------
"Tenant's Estimated Operating Expense Payment" ............................   13
 --------------------------------------------
"Tenant's Estimated Tax Payment" ..........................................    8
 ------------------------------
"Tenant's Inspection Consultants" .........................................   44
 -------------------------------
"Tenant's Operating Expense Payment" ......................................   13
 ----------------------------------
"Tenant's Property" .......................................................   64
 -----------------
"Tenant's Proportionate Operating Expense Share" ..........................   13
 ----------------------------------------------
"Tenant's Proportionate Tax Share". .......................................    7
 --------------------------------
"Tenant's Tax Payment". ...................................................    7
 --------------------
"Term" ....................................................................    1
 ----
"term of this Lease" ......................................................   91
 ------------------
"Termination Deadline" ....................................................   47
 --------------------
"the same shall be without liability to Landlord" .........................   86
 -----------------------------------------------
"unreasonably withheld". ..................................................   87
 ---------------------
"Walk Through Date" .......................................................   43
 -----------------
"Well" ....................................................................   20
 ----
"without incurring any liability to Tenant therefor" ......................   86
 --------------------------------------------------
"Year Five Expansion Option" ..............................................   93
 --------------------------
"Year Five Expansion Space" ...............................................   93
 -------------------------
"Year Five Expansion Space Commencement Date" .............................   93
 -------------------------------------------
"Year Ten Expansion Option" ...............................................   93
 -------------------------
"Year Ten Expansion Space" ................................................   93
 ------------------------
"Year Ten Expansion Space Commencement Date" ..............................   93
 ------------------------------------------
</TABLE>

                                      -iv-

<PAGE>

         AGREEMENT OF LEASE, dated as of January 17, 2002, between Forest City
Myrtle Associates, LLC, a New York limited liability company having an office at
One Metrotech Center, 11/th/ Floor, Brooklyn, New York 11201 (herein called
"Landlord"), and Empire HealthChoice, Inc. d/b/a Empire Blue Cross Blue Shield,
a New York not-for-profit corporation having an address at 11 West 42/nd/
Street, New York, New York 10036 (herein called "Tenant").

                              W I T N E S S E T H:

                                    ARTICLE 1

                             PREMISES, TERM AND RENT

         1.1. Landlord hereby leases to Tenant and Tenant hereby hires from
Landlord, upon and subject to the terms, covenants, provisions and conditions of
this Lease, the premises in the building (the "Building") known as Nine
Metrotech Center South, Brooklyn, New York consisting of the following: the
entire rentable area on the second through ninth (2/nd/ - 9/th/) floors shown,
which second through ninth (2/nd/ - 9/th/) floors are shown on the floor plans
annexed hereto as Exhibit A (the "Premises").

         Landlord and Tenant agree that the Premises shall be deemed, subject to
Section 1.7, to contain an aggregate of three hundred twenty-two thousand two
hundred twenty-eight (322,228) rentable square feet, consisting of the
following:

                                         Rentable
                Floor                    Square Feet

                Entire 2nd                 47,811
                Entire 3rd                 47,811
                Entire 4th                 43,013
                Entire 5th                 43,013
                Entire 6th                 35,145
                Entire 7th                 35,145
                Entire 8th                 35,145
                Entire 9th                 35,145

         1.2. The term ("Term") of this Lease, shall commence on the
Commencement Date (as such term is defined in Article 16 hereof) and the Term
shall end at 11:59 p.m. on the last day of the calendar month in which the
seventeenth (17th) anniversary of the Rent Commencement Date occurs or on such
earlier date upon which this Lease shall be cancelled or terminated pursuant to
any of the conditions or covenants of this Lease or pursuant to law (subject to
renewal pursuant to Article 39 hereof, the "Expiration Date"). Landlord and
Tenant shall, promptly upon request by either party, execute and acknowledge a
certificate in form reasonably satisfactory to Landlord and Tenant setting forth
the Commencement Date, the Rent Commencement Date and the Expiration Date, which
certificate shall be deemed an integral part of this Lease, but the execution
and acknowledgment of such an instrument shall not be a prerequisite to the
commencement or expiration of the Term.

         1.3. (a)  Tenant shall pay to Landlord fixed annual rent (the "Fixed
Rent") as follows:

              (i)  Commencing on the date which is seven (7) months (subject to
adjustment pursuant to Article 16) after the Commencement Date (the "Rent
Commencement Date") through the day prior to the fifth (5/th/) anniversary of
the Rent Commencement Date, Thirty-Six Dollars ($36.00) per rentable per square
foot of the Premises (i.e. Eleven Million Six Hundred Thousand Two Hundred Eight
Dollars ($11,600,208.00) per annum, payable in monthly installments of Nine
Hundred Sixty-Six Thousand Six Hundred Eighty-Four Dollars ($966,684.00));

              (ii) Commencing on the fifth (5/th/) anniversary of the Rent
Commencement Date through the day prior to the tenth (l0/th/) anniversary of the
Rent Commencement Date, Thirty-Nine and 60/100 Dollars ($39.60) per rentable per
square foot of the Premises (i.e., Twelve Million Seven Hundred Sixty Thousand
Two Hundred Twenty-Eight and 80/l00 Dollars ($12,760,228.80) per annum, payable
in monthly installments of One Million Sixty-Three Thousand Three Hundred
Fifty-Two and 40/100 Dollars ($1,063,352.40));

                                       -1-

<PAGE>

                 (iii) Commencing on the tenth (10/th/) anniversary of the Rent
Commencement Date through the Expiration Date, Forty-Three and 56/100 Dollars
($43.56) per rentable per square foot of the Premises (i.e., Fourteen Million
Thirty-Six Thousand Two Hundred Fifty-One and 68/100 Dollars ($14,036,251.68)
per annum, payable in monthly installments of One Million One Hundred Sixty-Nine
Thousand Six Hundred Eighty-Seven and 64/100 Dollars ($1,169,687.64)); and

                 (iv)  Commencing on the Rent Commencement Date, the sum of (A)
the Rentalized Amount, (B) the origination fee paid by Landlord to secure the
Rentalized Amount and (C) interest at eight percent (8%) per annum accrued on
the actual portion of Rentalized Amount drawn down, which sum shall bear
interest at the Rentalized Interest Rate (as hereinafter defined) and be payable
monthly in equal, level installments of principal and interest sufficient to
fully amortize the principal amount due hereunder by the seventeenth (17th)
anniversary of the Rent Commencement Date. As used in this Section 1.3(a)(iv),
the term "Rentalized Interest Rate" shall mean the sum of (A) eight percent (8%)
per annum and (B) the change (positive or negative) in the interest rate on
ten-year U.S. Treasury Bills as of November 2, 2001 compared to the interest
rate on ten-year U.S. Treasury Bills as of the date of the closing of the
refinancing of the mini-permanent financing Landlord is obtaining in connection
with the Building with permanent financing, which interest shall be computed on
the basis of a 360-day calendar year for the actual number of days involved.
Notwithstanding the foregoing, if the date of the closing of the aforesaid
refinancing occurs after the Rent Commencement Date, then (x) from the Rent
Commencement Date through the day preceding said closing, the "Rentalized
Interest Rate" shall be deemed to be eight percent (8%) and (y) from and after
said closing, the "Rentalized Interest Rate" shall be calculated as provided in
the preceding sentence. Tenant shall have the right to prepay the portion of the
Fixed Rent described in this Section 1.3(a)(iv) in full at any time; any such
prepayment made prior to the date of the aforesaid closing of the refinancing of
the mini-permanent loan financing with permanent financing shall be without
penalty, and any such prepayment made thereafter shall be subject to a penalty
equal to any costs or fees incurred by Landlord in connection with such
prepayment (e.g., breakages costs, prepayment penalties, etc.). This Section
1.3(b)(iv) is subject to recalculation as provided in Section 16.20, if
applicable.

                 (b)   Tenant shall pay to Landlord additional rent (herein
called the "Additional Rent") consisting of all other sums of money as shall
become due from and payable by Tenant to Landlord pursuant to this Lease. All of
the Fixed Rent and the Additional Rent (collectively, the "Rent") due pursuant
to this Lease shall be paid in lawful money of the United States to Landlord at
its office as above stated, or such other place, or to Landlord's agent and at
such other place, as Landlord shall designate by notice to Tenant. The Rent
shall be paid, at Tenant's option, either (i) by check drawn upon (A) a New York
City bank which is a member of the New York Clearing House Association or any
successor thereto or (B) a bank which has an office in New York City (the
"City") which is a member of any other check clearing association or system in
use by money center banks in New York or (ii) by Tenant causing an amount equal
to the Rent to be transferred in immediately available federal funds for credit
to such bank account or accounts as Landlord shall, upon request of Tenant,
designate from time to time.

            1.4. Except as otherwise set forth herein, Tenant shall pay all of
the Rent promptly when due without abatement, deduction or set-off, In the event
of any non-payment of Additional Rent, Landlord shall have all the rights and
remedies provided for herein or by law for non-payment of Fixed Rent. If the
Rent Commencement Date occurs on a day other than the first day of a calendar
month, or the Expiration Date occurs on a day other than the last day of a
calendar month, the Rent for the partial calendar month in which the Rent
Commencement Date or the Expiration Date occurs shall be prorated.

            1.5. If Landlord at any time receives from Tenant any payment less
than the sum of the Rent then due and owing from Tenant pursuant to this Lease,
Tenant hereby waives its right, if any, to designate the items to which such
payment shall be applied and agrees that Landlord in its sole discretion may
apply such payment in whole or in part to any of the Rent then due and payable
hereunder except to the extent that Tenant shall be disputing any items of the
Rent which may be due and payable hereunder, subject to and in accordance with
the provisions of this Lease, in which case Landlord shall not apply such
payment to items which Tenant is disputing. No endorsement or statement on any
check and no letter accompanying any check or payment shall be deemed an accord
and satisfaction, and Landlord may accept such check or payment without
prejudice to Landlord's right to recover the balance due hereunder or pursue any
other remedy provided for in this Lease or available at law or in equity

                                       -2-

<PAGE>

                 1.6. (a) In every case in which Tenant is required by the terms
of this Lease to pay Landlord the Fixed Rent or the Additional Rent and payment
is not received by Landlord within five (5) days after the same is due, interest
shall be payable on such sum or so much thereof as shall be unpaid from the date
which is five (5) days after such payment becomes due until it is received by
Landlord. Such interest shall be at an annual rate which shall be two percent
(2%) in excess of the Interest Rate (as hereinafter defined), but in no event
more than the highest rate of interest which at such time shall be permitted
under the laws of the State of New York.

                      (b) The provision for interest set forth in Section 1.6(a)
shall not be construed to extend the date for payment of any sums required to be
paid by Tenant hereunder or to relieve Tenant of its obligation to pay all such
sums at the time or times herein stipulated.

                 1.7. After substantial completion of the Initial Base Building
Work but prior to the Rent Commencement Date, either Landlord or Tenant may
request, by notice to the other, that an architect reasonably satisfactory to
both parties recalculate and certify the square footage of the Building and of
the Premises, which recalculations shall be performed using methods of
measurement and assumptions consistent with the methods of measurement and
assumptions initially used to calculate the square footages set forth in this
Lease. Promptly following such request, Landlord shall arrange with the
architect for such recalculation. The recalculations and corresponding
adjustments in Fixed Rent, Tenant's Proportionate Tax Share and Tenant's
Proportionate Share of Operating Expenses shall be deemed effective upon the
Rent Commencement Date. Landlord and Tenant shall cooperate with each other and
with the architect in providing any information and access necessary to make the
calculations and shall share equally any fees to the architect therefor. The
architect's calculations shall, absent manifest error, be binding on the
parties. Any dispute as to which architect shall be used or as to whether any
such calculation contains a manifest error shall be resolved by arbitration
pursuant to Article 35. Upon either party's request, Landlord and Tenant shall
promptly enter into an amendment to this Lease memorializing any changes made
pursuant to this Section 1.7 to the square footage figures contained herein. If,
in accordance with the foregoing, the architect determines that the rentable
square footage of the Premises is greater than as set forth in this Lease, then,
notwithstanding such calculation, for purposes of recalculating Fixed Rent,
Tenant's Pro Rata Share of Operating Expenses and Tenant's Pro Rata Tax Share,
any such increase shall be deemed capped at three percent (3%).

                                    ARTICLE 2

                                 USE OF PREMISES

                 2.1. (a) The Premises shall be used and occupied for general
and executive offices in connection with Tenant's business and such incidental
and ancillary uses which are usual and customary in first class office buildings
in the City and may be used for any other lawful office purpose expressly
permitted under that certain Ground Lease to be entered into between the City,
as ground lessor, and Landlord, as ground lessee, with respect to the Land (as
amended or modified, the "Ground Lease"), and for no other purpose except as
provided in this Section 2.1.

                      (b) Notwithstanding the terms of Section 2.1(a) and
subject to Tenant's compliance with the terms of this Lease with respect to the
following, portions of the Premises may also be used for the following
incidental and ancillary uses: (i) classrooms for training, (ii) medical, dental
and/or health departments or facilities, (iii) recreational or exercise
facilities, and (iv) cafeteria and dining rooms and related areas for food
preparation, consumption, refrigeration, storage or warming (collectively,
"dining facilities"), (v) meeting rooms, (vi) photographic reproduction and/or
offset printing facilities in connection with Tenant's business, including,
without limitation, reproduction facilities for Tenant's clients and Tenant's
business activities, (vii) the operation of computers, data processing, word
processing and other business machines, including telephone, fax and other
telecommunications equipment required for the conduct of business at the
Premises and (viii) non-retail banking; each of the foregoing being exclusively
for the use of Tenant's employees, Affiliates (both as hereinafter defined),
permitted subtenants, licensees, occupants or business guests and, subject to
Tenant's compliance with Articles 8 and 21 hereof, Tenant may install in
connection with any dining facility, Dwyer units, microwave ovens, conventional
ovens, stoves, dishwashers, coffeemakers, refrigerators and other cooking
facilities so as to serve Tenant's employees, Affiliates, permitted subtenants,
licensees, occupants and business guests.

                                       -3-

<PAGE>

                 (c) Any dining facility which may be operated under this
Section shall be operated in such a manner that (i) odors will not escape from
the Premises into other portions of the Building, (ii) all grease traps shall be
cleaned, (iii) all wet garbage shall be bagged and placed in containers that
prevent the escape of odors, stored in a refrigerated area to the extent, in
Landlord's reasonable judgment, that such refrigeration is appropriate and
Tenant shall pay any reasonable out-of-pocket charges actually incurred by
Landlord in connection with the removal of such garbage, it being understood and
agreed that if Landlord shall remove the garbage of Tenant and any other tenant
or occupant of the Building during the same service period, the cost of such
removal during such service period shall be equitably apportioned between Tenant
and such other tenant or occupant based on each party's garbage tonnage, and
(iv) such dining facility shall comply with all insurance company
recommendations and requirements to the extent required in Article 17, and all
health, sanitary, fire and other applicable codes if they affect the rates or
premiums payable by Landlord.

                 (d) If any governmental license or permit other than the
certificate of occupancy to be obtained by Landlord as part of the Base Building
Work shall be required for the proper and lawful conduct of Tenant's business in
the Premises or any part thereof, Tenant, at its expense, shall duly procure and
thereafter maintain such license or permit. At Tenant's request, Landlord shall
cooperate with Tenant in the procuring of any licenses or permits, provided the
same shall be without cost, expense or liability to Landlord. Tenant shall at
all times comply with the terms and conditions of each such license or permit.

                 (e) If a change in Tenant's use of the Premises from a use
permitted under this Article 2 to another use permitted under this Article 2
requires a change or amendment of any certificate(s) of occupancy or required
permits, Landlord shall reasonably cooperate with Tenant in the process of
obtaining such change or amended certificate(s) or occupancy or other required
permits, provided that same shall be without loss, cost, expense or liability to
Landlord (to the extent that Tenant shall pay such cost or expense or indemnify
Landlord against such loss or liability, the same shall be deemed to be without
loss, cost, expense or liability to Landlord).

            2.2. Subject to the provisions of Articles 17 and 21 hereof, Tenant
shall comply with and use the Premises subject to, and in accordance with, all
Legal Requirements and Insurance Requirements (as hereinafter defined).

            2.3. Tenant shall not at any time use or occupy the Premises or the
Building, or suffer or permit anyone to use or occupy the Premises, or do
anything in the Premises or the Building, or suffer or permit anything to be
done in, brought into or kept on the Premises, which in any manner (a) violates
the certificate of occupancy for the Premises; (b) causes injury to the Premises
or the Building or any equipment, facilities or systems therein; (c) impairs the
character or appearance of the Building as a first-class office building; (d)
impairs the proper and economic maintenance, operation and repair of the
Building and/or its equipment, facilities or systems; (e) unreasonably annoys or
inconveniences other tenants or occupants of the Building; (f) constitutes a
nuisance, public or private; (g) makes unobtainable from reputable insurance
companies authorized to do business in New York State all-risk property or any
other insurance which Landlord is required to maintain at standard rates; (h)
discharges objectionable fumes, vapors or odors into the Building's flues or
vents or otherwise; or (i) results in floor loads in excess of two hundred (200)
pounds live load per square foot on the third (3/rd/) floor of the Building or
in excess of one hundred (100) pounds live load per square foot on any other
floor leased to Tenant, subject to the Material Tenant Changes provisions in
Article 15.

            2.4. Any business machines and mechanical equipment used and
installed by Tenant which cause vibration, noise, cold or heat that may be
transmitted to the Building structure or the common areas of the Building or to
any leased space to such a degree as to cause unreasonably excessive noise or
vibration shall be placed and maintained by Tenant at its expense in settings of
cork, rubber or spring type to eliminate or reduce such unreasonably excessive
noise or vibration to a level that shall not be excessive.

            2.5. Notwithstanding anything to the contrary in Section 2.1, it is
expressly understood that no portion of the Premises shall be used as or for the
following: a public stenographer or typist, barber shop, beauty or manicure
shop, telephone or telegraph agency (without limiting Tenant's ability to use
telephones, fax machines and other telecommunications equipment and machines
required for the conduct of business at the Premises), telephone or secretarial
service for the public at large, messenger service for the public at large
(other than internal messengers

                                       -4-

<PAGE>

or messengers employed by Tenant or its Affiliates or permitted subtenants and
occupants, for pick up and delivery of its local correspondence), employment
agency, public restaurant or bar, commercial document reproduction or offset
printing service to the general public, public vending machines (other than
vending machines for employee use), gambling or gaming activities, obscene or
pornographic purposes or any sort of commercial sex establishment, the
possession, storage, manufacture or sale of alcohol, drugs or narcotics (other
than in connection with uses expressly permitted in Section 2.1(b) and subject
to compliance with Legal Requirements), retail, wholesale or discount shop for
sale of merchandise to the general public (other than the sale of merchandise to
Tenant's employees, Affiliates, visitors and business guests), retail service
shop, school or classroom (other than as expressly permitted in Section 2.1(b)),
conduct of a public auction, rendition of medical, dental or other diagnostic or
therapeutic services (other than as expressly permitted in Section 2.1(b)), the
offices or business of any agency of any foreign government or for the conduct
of any retail service (other than as expressly permitted in Section 2.1(b)).

     2.6.  Hazardous Materials.

           (a)   (i)   As used herein, "Hazardous Materials" means (A) asbestos
and polychlorinated biphenyls, (B) any and all material, waste or substance that
is hazardous or toxic, ignitable, reactive, or corrosive and that is regulated
by any local government, the State or City of New York or the federal government
and (C) any and all materials, wastes or substances that are defined as
"hazardous waste," "extremely hazardous waste," "hazardous material" or words of
similar import pursuant to state, federal or local Legal Requirements.
"Operational Hazardous Materials" means any Hazardous Materials which are
normally or reasonably used in the operation, maintenance or use of a first
class office building in the City, provided that the same are permitted to be
used in such operation, maintenance or use by Legal Requirements and are used,
stored and disposed of in compliance in all material respects with Legal
Requirements, including, without limitation, use of fuels, heating oil,
lubricants, pesticides, cleaning materials, paint and paint thinners, asphalt,
caulks, chemicals commonly used in connection with heating, plumbing, mechanical
and electrical systems and in photocopying machines, computers, word processing
equipment and other business machines but excluding any Hazardous Materials
which have been incorporated into the structure of the Building or the Building
systems in the course of the initial construction of the Building.

           (ii)  As used herein, "Tenant Exclusive Use Areas" means the
Premises, Tenant's Designated Mechanical Space and Tenant's Designated Roof
Space.

           (iii) As used herein, "Landlord Common Areas" means all areas of
the Building which are not Tenant Exclusive Use Areas or areas leased to or
occupied by other tenants.

           (b)   (i)   Tenant shall be solely responsible for and shall comply
with all Legal Requirements governing the presence or removal or the use,
storage, treatment, transportation, manufacture, refinement, handling,
production or disposal of Hazardous Materials (collectively, "Environmental
Legal Requirements") within or relating to the Tenant Exclusive Use Areas or
Tenant's use thereof provided that the same were not introduced therein by
Landlord or its agents, employees or contractors.

           (ii)  Tenant represents and warrants that it shall not use or cause
to be used or store (except for temporary storage of Operational Hazardous
Materials used in the ordinary course of Tenant's business and used in
compliance with Environmental Legal Requirements) any Hazardous Materials within
the Tenant Exclusive Use Areas, or on the Land or in the Landlord Common Areas
in any manner which violates Environmental Legal Requirements.

           (iii) Tenant shall be responsible for all costs (including, but not
limited to, those resulting from monitoring, clean-up or compliance) incurred
with respect to any Hazardous Materials placed in the Tenant Exclusive Use Areas
after the Commencement Date (or any earlier date upon which Tenant enters the
Tenant Exclusive Use Areas pursuant to this Lease) unless the same shall have
been placed therein by Landlord or Landlord's agents, employees or contractors,
and Tenant shall be responsible for all such costs incurred with respect to any
Hazardous Materials placed in, on or under the Land or the Landlord Common Areas
by Tenant or its agents, employees or contractors.

                                       -5-

<PAGE>

           (iv)  Tenant shall indemnify and hold harmless Landlord from and
against any and all costs, claims, suits, causes of action, losses, injury or
damage, including without limitation, personal injury (including death) as well
as damage to property as well as any and all sums paid for settlement of claims,
reasonable attorney's, consultant and expert fees arising during or after the
Term, as a result of a breach of the foregoing obligations or warranties, or
resulting from the presence or removal of Hazardous Materials from the Tenant
Exclusive Use Areas provided that the same were not introduced therein by
Landlord or its agents, employees or contractors.

           (v)   Landlord and its agents shall have the right, (but not the
duty) to inspect the Tenant Exclusive Use Areas (subject to the provisions of
Article 10) to determine whether Tenant is complying with the terms of this
Section 2.6.

           (c)   (i)   Landlord represents and warrants and, at Tenant's
request, will recertify to Tenant promptly following delivery of the Base
Building Work (A) the Base Building Work, upon the date(s) of substantial
completion thereof pursuant to Article 16, shall be in compliance with the then
applicable Legal Requirements pertaining to Hazardous Materials and (B) that it
shall not use or cause to be used or store (except for temporary storage of
Operational Hazardous Materials used in the ordinary course of Landlord's
business and used in compliance with Environmental Legal Requirements) any
Hazardous Materials on the Land or within the Tenant Exclusive Use Areas or the
Landlord Common Areas in any manner which violates Environmental Legal
Requirements.

           (ii)  Landlord shall be responsible for all costs (including, but not
limited to, those resulting from monitoring, clean-up or compliance) incurred
with respect to any Hazardous Materials placed on the Land or in the Landlord
Common Areas after Landlord shall have taken possession of the Land (pursuant to
and subject to the terms of the Ground Lease) unless the same shall have been
placed therein by Tenant or Tenant's agents, employees or contractors, and
Landlord shall be responsible for all such costs incurred with respect to any
Hazardous Materials placed in, on or under the Tenant Exclusive Use Areas by
Landlord or its agents, employees or contractors.

           (iii) Landlord shall indemnify and hold harmless Tenant from any and
all costs, claims, suits, causes of action, losses, injury or damage, including
without limitation personal injury (including death), as well as damage to
property as well as any and all sums paid for settlement of claims, reasonable
attorney's, consultant and expert fees arising during or after the Term
resulting from the presence or removal of Hazardous Materials in or from the
Tenant Exclusive Use Areas if the same were introduced by Landlord, its agents,
employees or contractors, or in or from the Landlord Common Areas or the Land
(subject to the terms of the Ground Lease) unless the same were introduced by
Tenant, its agents, employees or contractors.

                                    ARTICLE 3

                    TAXES AND OPERATING EXPENSES ESCALATIONS

     3.1.  Taxes.

           (a)   Definitions. For the purposes of this Section 3.1

           (i)   "Base Year Taxes" shall mean the taxes as finally determined
for the Tax Base Year.

           (ii)  "Tax Base Year" shall mean the Tax Year (defined below)
commencing July 1 of the calendar year in which the Rent Commencement Date falls
and ending June 30 of the following year, inclusively.

           (iii) "Taxes" shall mean the aggregate amount of (A) all real estate
taxes and payments in lieu of real estate taxes as defined in the Ground Lease,
("PILOT") which may be assessed, levied or imposed upon all or any part of the
Building or the land upon which it is located (the "Land") (the Building and the
Land being hereinafter collectively referred to as the "Real Property"); (B) all
assessments (special or otherwise) and all other governmental levies,
impositions or charges, whether general, special, ordinary, extraordinary,
foreseen or unforeseen which may be assessed, levied or imposed upon all or any
part of the Real Property including,

                                       -6-

<PAGE>

without limitation, Impositions (as defined in the Ground Lease), except that
the foregoing shall exclude (collectively, the "Excluded Impositions"): (1)
personal property taxes and occupancy and rent taxes assessed against Landlord
to the extent same are imposed on Landlord because Landlord is a tenant or
occupant of the Building, (2) license and permit fees to the extent same are
included in Operating Expenses (as hereinafter defined), and (3) any fines,
penalties and other similar governmental charges applicable to the foregoing,
together with any interest or costs with respect to the foregoing, incurred by
reason of Landlord's failure to make any payments as herein provided, it being
agreed, however, (x) so long as the Ground Lease is in effect the amount payable
pursuant to this clause (B) shall not exceed an amount which is equal to the
amount of the Impositions (excluding the Excluded Impositions) under the Ground
Lease and (y) Tenant shall have no obligation with respect to any increase in
Taxes due as a direct result of Landlord's breach of any of its obligations
under the Ground Lease; and (C) any expenses (including the fees and
disbursements of attorneys and other experts and witnesses) incurred in
contesting any of the foregoing or the assessed valuation of all or any part of
the Real Property. If at any time after the date hereof the methods of taxation
prevailing at the date hereof shall be altered so that in lieu of or as an
addition to or as a substitute for the whole or any part of the taxes,
assessments, rents, rates, charges, levies or impositions now assessed, levied
or imposed upon all or any part of the Real Property or the common areas of the
Project, there shall be assessed, levied or imposed (w) a tax, assessment, levy,
imposition or charge based on the income or rents received therefrom whether or
not wholly or partially as a capital levy or otherwise, or (x) a tax,
assessment, levy, imposition or charge measured by or based in whole or in part
upon all or any part of the Real Property or the aforesaid common elements, or
(y) a license fee measured by the rents, or (z) any other tax, assessment, levy,
imposition, charge or license fee with respect to the Real Property or the
aforesaid common areas, however described or imposed, then all such taxes,
assessments, levies, impositions, charges or license fees or the part thereof so
measured or based shall be deemed to be Taxes; provided, however, that any tax,
assessment, levy, imposition or charge imposed on income from the Real Property
or the aforesaid common areas shall be calculated as if the Real Property or the
aforesaid common areas is the only asset of Landlord. Notwithstanding the
foregoing, "Taxes" shall not include any inheritance, estate, succession,
transfer, gift, franchise, corporation, income or profit tax or capital levy
that is or may be imposed upon the net income of Landlord.

           (iv)  "Tax Year" shall mean each period of July 1 through June 30 (or
such other period as hereinafter may be duly adopted by the City as its fiscal
year for real estate tax purposes) all or any part of which shall fall within
the Term, hereof.

           (v)   "Tenant's Proportionate Tax Share" shall mean 47.952 percent,
which percentage is the ratio of the number of rentable square feet contained in
the Premises (322,228) and the number of rentable square feet contained in the
Building (671,982). The percentages set forth in this subsection 3.1(a)(v) shall
not be subject to change for any reason whatsoever, except that such percentages
may be subject to change (a) pursuant to Section 1.7, (b) by reason of any
alteration or improvement being performed to the Premises or the Building which
physically increases or decreases the rentable area of the Premises or the
Building, (c) upon the expansion or reduction of the size of the Premises
pursuant to and in accordance with Article 40 or 41 hereof and (d) as otherwise
expressly set forth herein.

           (b)   Computations.

           (i)   Tenant's Tax Payment. For each Tax Year, Tenant shall pay to
Landlord an amount ("Tenant's Tax Payment") equal to Tenant's Proportionate Tax
Share of the increase, if any, in Taxes for such Tax Year over the Base Year
Taxes.

           (ii)  Estimated Tax Statement. At any time before or after the
commencement of any Tax Year, Landlord may furnish to Tenant a statement
("Estimated Tax Statement") of Landlord's reasonable estimate of Tenant's Tax
Payment for such Tax Year (the "Tenant's Estimated Tax Payment"). The Estimated
Tax Statement shall be accompanied by a copy of the tax statement or bill for
such Taxes, provided that if such tax statement or bill is not then available,
Landlord will furnish a copy of the tax statement or bill within a reasonable
time after Landlord's receipt thereof. Tenant's Estimated Tax Payment shall be
payable by Tenant to Landlord on the date which is the later to occur of (A)
twenty (20) days after receipt of Landlord's Estimated Tax Statement, or (B) ten
(10) days prior to the date on which such Taxes, or any installments thereof,
are due to the applicable taxing authority (such later date, the "Tax Due Date")
or, if required by any Mortgagee, in twelve equal monthly installments on the
first

                                       -7-

<PAGE>

day of each month during the Tax Year. If during any Tax Year the last-issued
Estimated Tax Statement for such Tax Year is inaccurate in any respect, Landlord
may issue a revised Estimated Tax Statement. If there shall be any increase in
Taxes for any Tax Year as indicated on a revised Estimated Tax Statement, Tenant
shall pay to Landlord the amount shown on the revised Estimated Tax Statement on
or before the Tax Due Date. If there shall be any decrease in Taxes for any Tax
Year as indicated on a revised Estimated Tax Statement, Landlord shall promptly
refund or credit to Tenant the amount of such overpayment on the revised
Estimated Tax Statement for such Tax Year.

           (iii) Tax Statement. If, for any Tax Year, Taxes shall be less than
the amount reflected on the last-issued Estimated Tax Statement for such Tax
Year, Landlord shall and in any other case Landlord may after the end of such
Tax Year issue a statement of Taxes for such Tax Year, including a computation
of Tenant's Tax Payment for such Tax Year (a "Tax Statement"). If Tenant shall
have overpaid Taxes for any Tax Year, Landlord shall either promptly refund the
overpayment to Tenant or allow Tenant a credit against the subsequent payments
due under Sections 3.1 and 3.2 hereof in the amount of Tenant's overpayment of
Taxes; provided, however, if Tenant shall have overpaid Taxes for any Tax Year
by more than three percent (3%), in addition to such payment or credit, Landlord
shall pay or credit to Tenant (but following the expiration or earlier
termination of this Lease, Landlord shall pay to Tenant) interest on such
overpayment at the Interest Rate, calculated on the amount of such overpayment
from the date that Tenant paid such overpayment to the date Landlord shall pay
or credit to Tenant such overpayment. If Tenant shall have underpaid taxes for
any Tax Year, Tenant shall pay to Landlord an amount equal to the amount of such
underpayment of Tenant's Tax Payment with respect to such Tax Year within ten
(10) days after receipt of the applicable Tax Statement.

           (c)   Miscellaneous.

           (i)   Challenges and Refunds. Except as expressly provided in Section
3.1(c)(v), only Landlord shall be eligible to institute tax certiorari or other
proceedings to reduce the assessed value of the Real Property. If subsequent to
the date of the Tax Statement for any Tax Year Landlord shall receive a refund
of Taxes for any Tax Year, Landlord shall, at Tenant's election, either promptly
pay to Tenant or allow Tenant a credit against subsequent payments due under
Sections 3.1 and 3.2 hereof (but following the expiration or earlier termination
of this Lease, Landlord shall pay to Tenant) an amount equal to Tenant's
Proportionate Tax Share of the reduction in Taxes after deducting from such
refund (to the extent not already netted out of the net refund) the costs and
expenses incurred by Landlord in obtaining the same to the extent such costs and
expenses have not been previously included as part of Taxes, but such amount
shall not exceed Tenant's Tax Payment theretofore paid for such Tax Year.

           (ii)  Taxes Payable by Tenant. To the extent required by any Legal
Requirement, Tenant shall pay to Landlord upon demand any occupancy tax or rent
tax now in effect or hereafter enacted, if payable by Landlord in the first
instance or hereafter required to be paid by Landlord, but only to the extent
such taxes are not already included as Taxes. Tenant shall pay on or before the
date which is ten (10) days prior to the date such taxes and assessments are due
any and all taxes and assessments separately levied, assessed or imposed upon
Tenant by the tax authorities during the Term. Should any governmental authority
require that a tax, other than the taxes above-mentioned, be paid by Tenant, but
collected by Landlord, for and on behalf of said governmental authority, and
from time to time forwarded by Landlord to said governmental authority, the same
shall be paid by Tenant to Landlord, no later that twenty (20) days in advance
of the date such payment is due and payable to the appropriate governmental
authority, in which case, Landlord shall, on or before the date the same is due,
promptly pay the same to the appropriate governmental authority.

           (iii) Official Tax Bill. With respect to the portion of Taxes for
which Tenant is responsible under Section 3.1(b) or 3.1(c)(ii), the official tax
bill or return shall be presumptive evidence of the amount of Taxes levied,
assessed or imposed, as well as of the items taxed. Upon request by Tenant,
Landlord shall furnish Tenant with a reproduced copy of the tax bill for the
Taxes for the current or next succeeding Tax Year.

           (iv)  Partial Tax Year; Delay. Tenant's liability under this Section
3.1 with respect to the Tax Year in which this Lease shall commence and with
respect to the Tax Year in which this Lease shall expire or (except on account
of Tenant's default) terminate shall be computed on a pro-rata basis, Landlord's
failure to render or delay in rendering an Estimated

                                       -8-

<PAGE>

Tax Statement or a Tax Statement with respect to any Tax Year shall not
prejudice Landlord's right thereafter to render the same with respect thereto or
with respect to any subsequent Tax Year nor shall the rendering of a Tax
Statement for any Tax Year prejudice Landlord's right thereafter to render a
corrected Tax Statement for such Tax Year.

           (v)   Tax Certiorari. If for any Tax Year beginning on or after July
1 following the twelfth (12/th/) anniversary of the Rent Commencement Date,
either (A) Landlord does not intend to file an application with the Tax
Commission of the City, or any successor body which has the power to fix or
review assessed valuations, for reduction of the assessed valuation of the
Building and/or the Land (any such application being herein called a "Protest")
or (B) after filing a Protest, Landlord does not intend to commence an action or
proceeding in the Supreme Court of the State of New York, County of New York, or
any successor court of appropriate jurisdiction seeking judicial review of the
denial of any Protest (any of such action or proceeding being herein called a
"Proceeding"), then Landlord shall notify Tenant of such intention at least
twenty (20) days prior to the latest date on which such a Protest may validly be
filed or such a Proceeding may validly be commenced, as the case may be; and
Tenant may, but shall not be obligated to, file such a Protest or commence and
prosecute such a Proceeding, as the case may be, or settle any Protest or
Proceeding commenced by Tenant using counsel selected by Tenant and reasonably
satisfactory to Landlord, provided and upon the condition that Tenant exercises
such right by notice to Landlord given not more than ten (10) days after
Landlord has so notified Tenant of Landlord's intention. If Tenant shall elect
to commence a Protest or Proceeding, Landlord shall (1) provide Tenant with
copies of any documents or instruments filed in connection with such Protest or
Proceeding, (2) make available to Tenant during Business Hours at the Building
or at Landlord's office in Kings County; such books and records and other
evidence in Landlord's possession as may reasonably be required for proof in
such Protest or Proceeding, and (3) execute any and all documents reasonably
required to pursue such Protest or Proceeding. If Tenant shall obtain a refund
of the Taxes for any Tax Year in such Protest or Proceeding, Tenant shall be
entitled to receive Tenant's Proportionate Tax Share of the net refund plus the
reasonable costs and expenses of Tenant (to the extent not already netted out of
the refund), including, but not limited to, reasonable appraisal, accounting and
legal fees of obtaining the same, and Landlord shall be entitled to the amount
remaining from such refund. In addition, in connection with any Protest or
Proceeding, Landlord shall not settle or compromise any such Protest filed by
Landlord or Proceeding commenced by Landlord without the prior reasonable
consent of Tenant, and Landlord agrees that with respect to any Protest or
Proceeding commenced by Landlord, Landlord shall keep Tenant advised on a
regular basis of the status of such Protest and/or Proceeding and shall promptly
deliver copies of all material correspondence relating thereto to Tenant.
Notwithstanding the foregoing, if Tenant shall fail to consent to the settlement
or compromise of any Protest or Proceeding and if Landlord shall be subject to
any liability or obligation for Taxes in excess of that which it would otherwise
have been subject to had any such Protest or Proceeding been so settled or
compromised, then Tenant shall bear all such incremental tax increases for such
Tax Year (and, if such increases are phased-in over subsequent Tax Years, any
portion of such increases included in subsequent Tax Years). In addition,
Landlord shall provide Tenant with a copy of any notice of the assessed
valuation of the Building and/or the Land received by Landlord.

     3.2.  Operating Expenses.

           (a)   Definitions. For the purposes of this Section 3.2:

           (i)   "Base Operating Expense Year" shall mean (i) if the Rent
Commencement Date occurs before July 1, the calendar year in which the Rent
Commencement Date occurs or (ii) if the Rent Commencement Date occurs on or
after July 1, then the calendar year immediately following the calendar year in
which the Rent Commencement Date occurs.

           (ii)  "Base Year Operating Expenses" shall mean the greater of (A)
Six Dollars ($6.00) per rentable square foot of the Building (exclusive of any
portion therein being operated for a retail use and exclusive of the parking
garage) and (B) the actual Building Operating Expenses on a rentable per square
foot basis for the Base Operating Expense Year.

           (iii) "BID Assessment" shall mean the Building's proportionate share
of the expenses of the Metrotech Area Business Improvement District, as
determined in accordance with the approved District Plan of the Metrotech Area
Business Improvement District and the

                                       -9-

<PAGE>

annual budget adopted by the Board of Directors of the Metrotech Area District
Management Association, Inc.

              (iv)   "Building Operating Expenses" shall mean the aggregate of,
without duplication, all reasonable costs, expenses, disbursements and
expenditures (and sales, use, excise, value-added and similar taxes, if any,
thereon) paid or incurred by or on behalf of Landlord (whether directly or
through independent contractors) in respect of the operation, maintenance,
repair, cleaning, security and management of the Real Property and the plazas,
sidewalks, curbs and areas which form part of the Real Property and the public
sidewalks, curbs and areas immediately adjacent thereto (hereinafter called
"Operation of the Property") which, under generally applied real estate practice
in the City are properly chargeable to the Operation of the Property, including,
but not limited to, costs incurred in connection with the repair and/or
replacement of worn-out equipment, facilities and installations; water, fuel and
other utilities, heating, air conditioning, ventilating, window cleaning,
janitorial and exterminating services; electricity for, and painting of, the
public or common areas of the Building; electricity for operation of so-called
"DX Units" (or similar apparatus) within tenantable portions of the Building
during Business Hours, displays and holiday decorations appropriate to the
operation of the Building as a first class office building in the City; internal
security for the Building, cleaning services, gardening and other landscaping
services which are not included in CAM Operating Expenses; insurance (including
rental insurance); uniforms and supplies; sales or use taxes on supplies or
services which are includible as Operating Expenses; payroll taxes, wages and
salaries of all persons engaged in the Operation of the Property and so-called
fringe benefits, including social security taxes, unemployment taxes, Workers'
Compensation, coverage for disability benefits, contributions to any pension,
hospitalization, welfare or retirement plans or any other similar or like
expense incurred under the provisions of any collective bargaining agreement and
any other amount incurred to provide benefits for employees so engaged in the
Operation of the Property; for management services provided by an independent
management company or by Landlord (in which case such fees shall not exceed
those that would be charged by independent management companies to manage first
class office buildings in the City); the charges of any independent contractor
who under a contract does any work which otherwise constitutes an Operating
Expense with respect to the Operation of the Property; and legal and accounting
fees and disbursements and other professional fees and disbursements in
connection with the Operation of the Property; damages, awards and judgments
including interest thereon paid or incurred by the Landlord and arising from the
Operation of the Property; but specifically excluding or deducting, as
appropriate:

              (1)    Taxes;

              (2)    interest and amortization of any debts;

              (3)    the cost of any electricity furnished to the Premises or
any other tenantable space in the Building which is not considered a common area
of the Building other than electricity for operation of so-called "DX Units" (or
similar apparatus) within tenantable portions of the Building during Business
Hours;

              (4)    ground rent;

              (5)    operating expenses attributable to the retail area of the
Building;

              (6)    expenditures for capital improvements except (i) those
which are intended to result in a savings in the amount of Operating Expenses
but only to the extent such savings are actually achieved, (ii) those made in
order to comply with any change in Insurance Requirements or Legal Requirements
occurring after the Commencement Date, provided that such Legal Requirement
arises out of or relates to (A) use of the Premises for the uses permitted by
Article 2, or (B) any other use of the Premises by Tenant permitted by Landlord
in its sole discretion, or (C) Tenant's manner of use of the Premises, or (iii)
expenditures for replacements provided, however, (A) that the cost of repairing
such item would exceed fifty percent (50%) of the cost of replacing the same,
and (B) that any such item shall be amortized annually on a straight line basis
over its useful life as determined in accordance with generally accepted
accounting principles (not to exceed ten (10) years), together with interest at
the Interest Rate determined at the time Landlord incurred said cost, and shall
be included in Operating Expenses for the appropriate Operating Expense Years
(as hereinafter defined);

                                      -10-

<PAGE>

              (7)  depreciation (except as provided above in this subsection);

              (8)  leasehold improvements and decorations made for tenants or
occupants of the Building or cash allowances in lieu thereof;

              (9)  brokerage commissions and compensation and finder's fees;

              (10) financing and refinancing costs;

              (11) any cost or expense which would otherwise be an Operating
Expense in connection with the garage located in the below grade portion of the
Building to the extent attributable to the garage;

              (12) costs covered by enforceable warranties and guaranties or
unenforceable warranties and guaranties if same are unenforceable solely by
reason of any act or omission of Landlord, any of Landlord's Affiliates or
Landlord Parties (as hereinafter defined) or any other tenant or occupant of the
Building;

              (13) personnel benefits, expenses and salaries of the type set
forth in this Section of employees above the level of building manager;

              (14) the portion of any expenses otherwise includible in Operating
Expenses which are allocable to any other properties of Landlord or any of
Landlord Parties or Affiliates of Landlord, such as the portion of the personnel
benefits, expenses and salaries of the type set forth in Section 3.2(a)(iv) of
employees allocable to time spent by such employees in connection with
properties other than the Land and/or the Building or the portion of the
premiums for any insurance carried under "blanket" or similar policies to the
extent allocable to any property other than the Land and/or the Building;

              (15) any cost or expense which would otherwise be included in
Operating Expenses to the extent that Landlord is reimbursed or is required to
be reimbursed therefor from any source other than pursuant to provisions in the
nature of this Article 3;

              (16) franchise, "gains" or foreign ownership or control tax,
mortgage recording tax, transfer or transfer gains tax, inheritance or estate
tax or income taxes imposed upon Landlord or any of Landlord Parties;

              (17) advertising and promotional expenditures;

              (18) the cost of repairs or replacements incurred by reason of
fire or other casualty or condemnation, to the extent Landlord is compensated
therefor during the Operating Year to which an Operating Statement relates or
would have been compensated therefor if Landlord carried the insurance required
by this Lease;

              (19) direct costs incurred in connection with a transfer or
disposition of Landlord's interest in the Ground Lease, the Land and/or the
Building which would not otherwise be incurred by Landlord as an Operating
Expense;

              (20) any fee or expenditure (other than a management fee) paid to
Landlord or any of Landlord Parties or any Affiliate of Landlord, to the extent
the fee or expenditure is in excess of the amount which would be paid in the
absence of such relationship;

              (21) costs and expenses incurred in connection with the
enforcement of leases and occupancy agreements, including, without limitation,
disbursements in connection with any summary proceeding to dispossess any tenant
or occupant;

              (22) costs and expenses incurred in connection with, and
incidental to, the leasing of space in the Building, including, without
limitation, attorneys' fees and disbursements; costs and expenses incurred in
connection with preparing and negotiating leases, amendments and modifications
thereto, consents to sublease, assignments or any form leases or other documents
with respect to the operation of the Building and disputes with tenants or
occupants in the Building, including, without limitation, attorneys',
accountants' and consultants' fees and disbursements;

                                      -11-

<PAGE>

              (23) costs and expenses (including those for labor, materials,
tools, equipment and contractor charges), whether ordinary or capital, incurred
in connection with compliance with any Legal Requirements existing as of the
Commencement Date which are applicable to the Land and/or the Building
(including, without limitation, the Premises) with respect to a condition
existing as of the Commencement Date, whether or not noted of record, unless
caused by an act or omission of Tenant or any of Tenant's Parties or any person
claiming by, through or under Tenant;

              (24) costs incurred to correct any defect discovered during the
first twelve (12) month period following the Rent Commencement Date (or a longer
period if and to the extent Landlord is reimbursed for such cost under a
warranty) to the extent resulting from the improper initial construction or
design of the Building and the Building systems (but excluding the Tenant
initial Work) other than costs incurred to make minor adjustments thereto,
provided, however, nothing contained herein is intended to exclude from
Operating Expenses any portions of such repairs or replacements which would
customarily be included in Operating Expenses other than those directly
attributable to the construction or design defects;

              (25) costs incurred in performing work or furnishing services for
any other tenant, whether at such tenant's or Landlord's expense, to the extent
that such work or service is in excess of any work or service that Landlord is
obligated to furnish to Tenant at Landlord's expense;

              (26) the cost of clean-up, removal or remediation of any Hazardous
Materials other than Operational Hazardous Materials (as hereinafter defined)
from the Building;

              (27) any costs resulting solely and directly from any amendment or
modification to the CAM Agreement (is hereinafter defined) after the date
hereof, if such costs have been imposed upon or with respect to the Real
Property, Landlord or Tenant in a manner which is discriminatory; and

              (28) the cost of any maintenance service Landlord provides to any
other tenant in the Building but which Landlord requires Tenant to provide
itself.

      If during all or part of any Operating Expense Year, Landlord shall not
furnish any particular item(s) of work or service (which would otherwise
constitute an Operating Expense hereunder) to the Building or any portion of the
Building due to the fact that less than the entire tenantable space of the
Building is occupied or leased, then, for purposes of computing Operating
Expenses for such Operating Expense Year, the amount included in Operating
Expenses for such item(s) for such period shall be deemed to be increased to
reflect the variable Operating Expense costs that would have been payable had
the Building been completely occupied for the entire Operating Expense Year or
which would reasonably have been incurred during such period by Landlord if it
had furnished such item(s) of work or service to the Building or portion
thereof, as the case may be. Without limiting the foregoing, it shall be assumed
that all Building services are in place and fully costed (e.g., discounts for
the initial period of multi-year contracts shall be appropriately adjusted).
Similarly, if during all or part of any Operating Expense Year, Landlord shall
not furnish any particular item(s) of work or service (which would otherwise
constitute an Operating Expense hereunder) to the Building or any portion of the
Building due to the fact that such item(s) of work or service is not required or
desired by the tenant of such portion or such tenant is itself obtaining and
providing such item(s) of work or service, then, for purposes of computing
Operating Expenses for such Operating Expense Year, the amount included in
Operating Expenses for such item(s) for such period shall be increased to
reflect the variable Operating Expense costs that would reasonably have been
incurred during such period by Landlord, if it had furnished such item(s) of
work or service to the Building or portion thereof. Further, with respect to the
calculation of the Base Year Operating Expenses only, if and to the extent
certain expenses are incurred with respect to only a portion of the Base
Operating Expense Year, then such expenses shall be annualized to more closely
approximate the cost that will be incurred for such expense over the course of
the subsequent full year.

         (v) "CAM Agreement" shall mean that certain Common Area Maintenance
and Development Agreement dated as of September 15, 1988, as amended from time
to time, among Landlord and the owners and ground lessees of the other buildings
in the Project.

                                      -12-

<PAGE>

              (vi)   "CAM Operating Expenses" shall mean the Building's
proportionate share of all costs and expenses assessed under the CAM Agreement.

              (vii)  "Operating Expense Year" shall mean, for purposes of
determining Building Operating Expenses or CAM Operating Expenses, each calendar
year all or any part of which shall fall within the Term hereof.

              (viii) "Tenant's Proportionate Operating Expense Share" shall mean
48.443 percent, which percentage is the ratio of the number of rentable square
feet contained in the Premises (322,228) and the number of rentable square feet
of office space contained in the Building (665,163). The percentages set forth
in this Section 3.2(a)(viii) shall not be subject to change for any reason
whatsoever, except that such percentages may be subject to change (A) pursuant
to Section 1.7, (B) by reason of any alteration or improvement being performed
to the Premises or the Building which physically increases or decreases the
rentable area of the Premises or the Building, (C) upon the expansion or
reduction of the size of the Premises pursuant to and in accordance with Article
40 or 41 hereof and (D) as otherwise expressly set forth herein.

              (b)    Computations.

              (i)    Tenant's Operating Expense Payment. Commencing January 1 of
the First Operating Expense Year following the Rent Commencement Date, for any
Operating Expense Year, Tenant shall pay to Landlord an amount ("Tenant's
Operating Expense Payment") equal to the sum of: Tenant's Proportionate
Operating Expense Share of (A) the amount by which (x) Building Operating
Expenses for such Operating Expense Year exceeds (y) the product of Base Year
Operating Expenses and the total number of rentable square feet in the Building
(exclusive of any portion therein being operated for retail use and exclusive of
the parking garage), plus (B) the BID Assessment for such Operating Expense
Year, plus (C) CAM Operating Expenses for such Operating Expense Year.

              (ii)   Estimated Operating Expense Statement. At any time before
or after the commencement of any Operating Expense Year, Landlord may render to
Tenant a statement in reasonable detail of Landlord's reasonable estimate of
Tenant's Operating Expense Payment for such Operating Expense Year ("Estimated
Operating Expense Statement") and the amount shown thereon (the "Tenant's
Estimated Operating Expense Payment") shall be payable by Tenant to Landlord in
twelve (12) equal monthly installments on the first day of each month during the
Operating Expense Year. Any amount shown on an Estimated Operating Expense
Statement shall not exceed Tenant's Operating Expense Payment for the
immediately preceding Operating Expense Year by more than ten percent (10%)
unless Landlord can demonstrate to Tenant's reasonable satisfaction that
Tenant's Operating Expense Payment for the subsequent Operating Expense Year is
reasonably likely to increase by more than ten percent (10%). If, however,
Landlord shall furnish such Estimated Operating Expense Statement for any
Operating Expense Year subsequent to the commencement thereof, then (A) until
the first day of the month following the month in which such Estimated Operating
Expense Statement is furnished to Tenant, Tenant shall continue to pay to
Landlord on the first day of each month an amount equal to the monthly sum
payable under this Section 3.2 in respect of the last month of the preceding
Operating Expense Year, (B) promptly after such Estimated Operating Expense
Statement is furnished to Tenant or together therewith, Landlord shall give
notice to Tenant stating whether the installments of Tenant's Operating Expense
Payment previously made for such Operating Expense Year pursuant to clause (A)
of this sentence were greater or less than the installments of Tenant's
Operating Expense Payment to be made for such Operating Expense Year in
accordance with such Estimated Operating Expense Statement, and (1) if there
shall be a deficiency, Tenant shall pay the amount thereof within ten (10) days
after demand therefor, or (2) if there shall have been an overpayment, Landlord
shall promptly pay to Tenant or credit the amount thereof against the next
subsequent payments due under Sections 3.1 and 3.2 hereof; provided, however, if
Tenant shall have overpaid Tenant's Operating Expense Payment for any Operating
Expense Year by more than five percent (5%), in addition to such payment or
credit, Landlord shall pay or credit to Tenant interest on such overpayment at
the Interest Rate, calculated on the amount of such overpayment from the date
that Tenant overpaid to the date Landlord shall pay or credit to Tenant such
overpayment, and (C) on the first day of the month following the month in which
such Estimated Operating Expense Statement is furnished to Tenant, and monthly
thereafter throughout the remainder of such Operating Expense Year, Tenant shall
pay to Landlord an amount equal to one-twelfth (1/12) of the Estimated Operating
Expense Payment shown on such

                                      -13-

<PAGE>

Estimated Operating Expense Statement. Landlord may, from time to time, furnish
to Tenant a revised Estimated Operating Expense Statement for such Operating
Expense Year and, in such case, Tenant's payments under this Section on account
of such Operating Expense Year shall be adjusted and paid or credited, as the
case may be, substantially in the same manner as provided in the immediately
preceding sentence.

              (c)    Operating Expense Statement. After the end of each
Operating Expense Year, Landlord shall issue a statement of Building Operating
Expenses, CAM Operating Expenses and the BID Assessment for such Operating
Expense Year, including a computation of Tenant's Operating Expense Payment for
such Operating Expense Year (an "Operating Expense Statement"). If Tenant's
payments under subsection 3.2(b)(ii) above on account of Tenant's Operating
Expense Payment shall have been less than Tenant's Operating Expense Payment,
the deficiency shall be payable by Tenant to Landlord within ten (10) days after
receipt of such Operating Expense Statement. If Tenant's payments under
subsection 3.2(b)(ii) above on account of Tenant's Operating Expense Payment
shall have been more than Tenant's Operating Expense Payment, the overpayment
(together with interest on such overpayment if such overpayment shall be by more
than five percent (5%), at the Interest Rate calculated on the amount of such
overpayment from the date that Tenant shall have overpaid to the date Landlord
shall credit to Tenant such overpayment), shall be credited by Landlord against
Tenant's subsequent payments due under Sections 3.1 and Section 3.2 or promptly
paid to Tenant.

              (d)    Partial Operating Expense Year; Delay. Tenant's liability
under this Section 3.2 with respect to the Operating Expense Year in which this
Lease shall commence and with respect to the Operating Expense Year in which
this Lease shall expire or (except on account of Tenant's default) terminate
shall be computed on a pro-rata basis. Landlord's failure to render or delay in
rendering an Estimated Operating Expense Statement or an Operating Expense
Statement with respect to any Operating Expense Year shall not prejudice
Landlord's right thereafter to render the same with respect thereto or with
respect to any subsequent Operating Expense Year nor shall the rendering of an
Operating Expense Statement for any Operating Expense Year prejudice Landlord's
right thereafter to render a corrected Operating Expense Statement for such
Operating Expense Year.

      3.3.    (a)    Each Tax Statement and Operating Expense Statement
(individually, a "Statement") given by Landlord pursuant to this Article 3 shall
be conclusive and binding upon Tenant unless within one hundred twenty (120)
days after the giving of such applicable Statement (except that with respect to
the first Operating Expense Year, Tenant shall have one hundred eighty (180)
days to dispute the first Operating Expense Statement), Tenant shall notify
Landlord that it disputes the correctness of such Statement, or any portion
thereof, specifying, to the extent reasonably practicable, the particular
respects in which such Statement is claimed to be incorrect. In addition, all
increases in CAM Operating Expenses shall be deemed to be reasonable unless
within one hundred twenty (120) days after the giving of the applicable
Statement, Tenant shall notify Landlord that it disputes the reasonableness of
such CAM Operating Expenses, specifying, to the extent reasonably practicable,
the reasons why such increases in CAM Operating Expenses are claimed to be
unreasonable. No such notice of objection, however, shall excuse Tenant from its
obligation to timely make payment in accordance with such Statement, provided,
however, Tenant's position shall in no way be prejudiced thereby. If any such
dispute shall not have been settled by agreement within one hundred fifty (150)
days after receipt of such Statement by Tenant (or within two hundred ten (210)
days in the case of a dispute with respect to the first Operating Expense Year),
either party may submit the dispute to arbitration as provided in Article 35. If
the dispute shall be determined in Tenant's favor, Landlord shall forthwith pay
to Tenant the amount of Tenant's overpayment resulting from compliance with
Landlord's Statement, together with interest thereon at the Interest Rate from
the date of such overpayment. Any Statement furnished by Landlord to Tenant
pursuant to this Article 3, shall be in reasonably sufficient detail (including,
with respect to Taxes, in such detail so that Tenant may independently calculate
the amount of Taxes due and payable and with respect to Operating Expenses, in
at least such detail as is shown on Exhibit D annexed hereto and made a part
hereof). If Landlord shall fail to deliver any Statement to Tenant within
eighteen (18) months after the expiration of the applicable Operating Expense
Year or Tax Year, as the case may be, or if Landlord shall fail to deliver any
corrected Statement to Tenant within thirty-six (36) months after the expiration
of the applicable Operating Expense Year or Tax Year, as the case may be (except
that such thirty-six (36) month period shall be shortened to twenty-four (24)
months with respect to any such corrected Statement that is given with respect
to any Operating Expense Year or Tax Year, as the case may be, in which

                                      -14-

<PAGE>

the Term shall expire or terminate), Landlord shall have no right to deliver a
Statement or corrected Statement for any such Operating Expense Year or Tax
Year, as the case may be, and if Landlord shall deliver a Statement or corrected
Statement to Tenant after such applicable period as aforesaid, Tenant shall have
no liability to pay any underpayments shown thereon to be due and owing to
Landlord.

              (b)    In the event that any amount owing to Tenant hereunder and
payable either in cash or by means of a credit against the Rent shall not be
fully paid or credited to Tenant on the Expiration Date or earlier termination
of this Lease (other than for Tenant's default), Landlord shall promptly pay to
Tenant the amount not theretofore paid or credited to Tenant, together with
interest payable thereon at the Interest Rate. In no event shall the Fixed Rent
ever be reduced by operation of Sections 3.1 or 3.2. The provisions of Sections
3.1 and 3.2 shall survive the expiration or earlier termination of this Lease.

              (c)    Tenant and its representatives shall have the right, at
Tenant's expense, during the one hundred twenty (120) day period following the
giving of each Operating Expense Statement (or during the one hundred eighty
(180) day period following the giving of the Operating Expense Statement for the
first Operating Expense Year), on not less than ten (10) days' prior written
request by Tenant to Landlord, to examine, audit and copy (at Tenant's expense)
at Landlord's office in the City, during normal Business Hours, Landlord's books
and records pertaining to the Operating Expenses, to enable Tenant to verify the
accuracy of such Operating Expense Statement.

                                    ARTICLE 4

                                   ELECTRICITY

         4.1. (a)    Landlord shall obtain on Tenant's behalf electrical service
required by Tenant in connection with its use of the Premises, Tenant's
Designated Mechanical Space and Tenant's Designated Roof Space directly from the
public utility company servicing the Building. Tenant's consumption of
electricity shall be directly metered by the public utility company and Tenant
shall pay the costs of such consumption and any other costs of such service
directly to the public utility company. Any deposits required by such public
utility with respect to such service and all costs in connection with obtaining
such service shall be paid by Tenant directly to such public utility or shall be
reimbursed to Landlord within thirty (30) days of Landlord's submission of a
bill to Tenant therefor, as the case may be, except that Landlord shall pay the
cost of installing such direct meters. Landlord shall promptly and diligently
arrange for such public utility company to install such meter(s) as shall be
necessary to measure consumption of electricity in the Premises. Tenant shall
follow, or cooperate with Landlord to follow, all necessary procedures required
by the public utility to qualify and be designated as the account payee for the
public utility. Landlord shall allow Tenant to connect to the Building electric
bus ducts in the electric closets located within the Premises, at Tenant's sole
cost and expense, and subject to the terms of this Lease, to make Tenant's
wiring connections thereto in order to furnish electrical service to the
Premises. Upon such installation, Tenant shall pay directly to the utility
company the amounts due for electric current consumed by Tenant, as indicated by
such meters. At Tenant's request (to be made not later than thirty (30) days
following the Commencement of Construction of the Building) and cost, Landlord
shall provide submetering for the aforesaid electric service in lieu of direct
metering.

              (b)    Notwithstanding anything to the contrary in Section 4.1(a):

              (i)    Landlord shall provide, at Landlord's expense, a hard-wired
addressable system which is connected to the Building Class E alarm and
communication fire management system, and Landlord shall make circuits of
adequate capacity to provide Tenant with all fire alarm points required by Legal
Requirements (and such additional capacity as may be set forth on the Base
Building CDs) available for Tenant to tie into and program such system, at
Landlord's expense. Landlord shall allow Tenant to connect to the Building
emergency power generation system to provide continuous electric current for the
emergency lighting systems including, without limitation, the equipment and
fixtures thereof within the Premises (the "Emergency Lighting Systems"), at
Landlord's sole cost and expense. Building electrical contractor costs for final
Tenant connections to the data gathering panels or other appropriate equipment
on all floors for reprogramming building fire management systems, filing,
testing and sign-off and all costs for software changes to the Building Class E
systems in connection with

                                      -15-

<PAGE>

Tenant's initial fit-out shall be at Landlord's cost and expense. Tenant shall
pay Landlord's actual cost for electric current consumed by Tenant for the
Emergency Lighting Systems, determined as hereinafter provided in this Section
4.1(b), on a monthly basis as Additional Rent.

          (ii)  Landlord will, at Landlord's expense, cause an independent
reputable electrical consultant to make an initial survey in the Premises (or
the applicable portion thereof), and thereafter may, from time to time at
Landlord's expense, cause an independent reputable electrical consultant to make
surveys in the Premises (or the applicable portion thereof), covering
the Emergency Lighting Systems, the use of electrical current thereof and the
number of kilowatt hours consumed by Tenant in the Premises (or the applicable
portion thereof) for such Emergency Lighting Systems. Tenant shall also have the
right, at Tenant's expense, to initiate surveys by an independent reputable
electrical consultant in the Premises covering the Emergency Lighting Systems
therein, the use of current thereof and the number of kilowatt hours consumed by
Tenant in the Premises (or the applicable portion thereof) for such Emergency
Lighting Systems. At Tenant's request and cost, Landlord shall provide
submetering for the Emergency Lighting System.

          (iii) Tenant shall pay Landlord for the use of such electricity for
the Emergency Lighting Systems in an amount equal to (A) the number of kilowatt
hours consumed by Tenant as shown by survey, multiplied by (B) Landlord's
average cost per kilowatt hour for the Building for such electricity during the
period(s) in question, or, in the event submetering is installed as set forth in
Section 4.l(b)(ii) above, then as shown on such submeter(s).

          (c)   The determination in accordance with any survey of the electric
current consumed in the Premises for the Emergency Lighting Systems pursuant to
Section 4(b) shall be binding and conclusive on Landlord and Tenant, from and
after the delivery of copies of such determination to Landlord and Tenant,
unless within ninety (90) days after the delivery of such copies, the party not
causing the survey to be performed notifies the other that it disputes such
determination. If such other party disputes the determination, it shall, at its
own expense, obtain from an independent reputable electrical consultant its own
survey in the Premises (or the applicable portion thereof) covering the
Emergency Lighting Systems therein, the use thereof and the number of kilowatt
hours consumed by Tenant for the use of such Emergency Lighting Systems in the
Premises (or the applicable portion thereof) and a determination of the electric
current consumed in the Premises (or the applicable portion thereof) for the use
of such Emergency Lighting Systems in accordance with the provisions of this
Article 4. Landlord and Tenant's consultant then shall seek to agree on a
finding of such determination of the electric current consumed in the Premises
(or the applicable portion thereof) for the use of the Emergency Lighting
Systems. If such consultants cannot agree, such consultants shall choose a third
reputable independent electrical consultant who shall not be employed by or have
been retained on an independent consulting basis within the last two years by,
either Landlord or Tenant, or any Affiliate of Landlord or Tenant, whose cost
shall be shared equally by Landlord and Tenant, to make a similar survey, and
the determination of such third electrical consultant shall, if performed in
accordance with the provisions of the Section 4.1, be binding on Landlord and
Tenant. If Landlord and Tenant cannot agree on the selection of such third
consultant, within ten (10) days from the date either electrical consultant
shall first give notice to the other of its choice of such third consultant,
then either party may request such appointment of such third electrical
consultant by the American Arbitration Association (or any organization
successor thereto). However, pending the determination of such third electrical
consultant or the agreement of Landlord and Tenant's electrical consultant,
Tenant shall, without prejudice to Tenant's rights, pay Landlord for the amount
of electric current consumed in the Premises (or the applicable portion thereof)
for the Emergency Lighting Systems as determined by Landlord. If the resolution
of any such dispute by the third electrical consultant or by agreement of
Landlord and Tenant's electrical consultant shall include a determination that
Tenant shall have overpaid for any electric current consumed in the Premises for
the Emergency Lighting Systems, such overpayment (together with interest thereon
at the Interest Rate, calculated from the date of the overpayment to the date
the overpayment is credited or refunded to Tenant) shall be promptly paid to
Tenant or credited against the next installment of Additional Rent due under
Article 3 hereof (but following the expiration or earlier termination of this
Lease, Landlord shall pay versus credit such amount to Tenant). If the
resolution of any such dispute shall include a determination that Tenant has
underpaid for any electric current consumed in the Premises for the Emergency
Lighting Systems, then Tenant shall pay to Landlord the amount of any such
underpayment within ten (10) Business Days following demand therefor.

                                      -16-

<PAGE>

          (d) Tenant shall pay as Additional Rent the cost of operating the DX
units during non-Business Hours to the extent occasioned by Tenant's use of the
Premises, Tenant's Designated Mechanical Space and/or Tenant's Designated Roof
Space.

          (e) Each amount due under any provision of this Article 4 shall be due
within ten (10) Business Days following Landlord's rendition of a bill therefor.

     4.2. (a) The total power available for connection by Tenant from the
Building electric bus duct in the electric closets in the Premises for Tenant's
exclusive use for lighting and utility power outlets and exclusive of Building
HVAC, Building system heating, if any and domestic hot water, if any, shall be
in the amount of eight (8.0) watts demand load per useable square foot.

          (b) In addition to the electrical capacity available to Tenant
pursuant to section 4.2(a), Landlord shall make up to 1,300 amps available to
Tenant for supplemental use in accordance with Exhibit N.

     4.3. Tenant will not (a) install a connected load (including all of
Tenant's supplemental air conditioning, if any, and other equipment but
excluding Building system air conditioning, if any, Building system heating, if
any, and domestic hot water, if any) or otherwise draw (and with respect to
Tenant's Designated Mechanical Space and Tenant's Designated Roof Space,
Landlord shall not be required to furnish) in excess of the limits set forth in
Section 4.2, or (b) make or perform or permit the making or performing of any
alterations to wiring, installations or other electrical facilities in or
serving the Premises without the consent of Landlord in each instance, which
consent shall not be unreasonably withheld. If Tenant requires electricity in
excess of the capacity described above, then Tenant, at Tenant's expense, and
with Landlord's consent, not to be unreasonably withheld, may install feeders,
risers, wiring and other conductors and equipment (collectively, "additional
electrical equipment") sufficient to supply such additional electricity provided
that, in Landlord's reasonable judgment (i) sufficient electric service is
available, (ii) such additional electrical equipment is permissible under
applicable Legal Requirements and Insurance Requirements and will not cause
material permanent damage or injury to the Building or the Premises, or cause or
create a dangerous or hazardous condition or entail excessive or unreasonable
alterations, repairs or expense or unreasonably interfere with or disturb other
tenants or occupants of the Building. Any such installation by Tenant of
additional electrical capacity to the Premises shall comply with the applicable
requirements of Article 15.

     4.4. Without limiting any other provision of this Lease, Tenant may
initially distribute its electricity as it desires provided (i) it shall at all
times comply with the rules, regulations, terms and conditions applicable to
service, equipment and wiring and requirements of the public utility supplying
electricity to the Building, (ii) Tenant does not unbalance the load across the
phases by more than ten percent (10%) or exceed the designed load capacity for
electrical installations or the risers and is otherwise in accordance with good
electrical installation and distribution practices and (iii) Tenant shall
deliver to Landlord prior notice describing the nature of the proposed
distribution. Any alterations to Tenant's initial distribution shall be subject
to the foregoing requirements and Article 15.

     4.5. Landlord shall not in any way be liable or responsible to Tenant for
any loss or damage or expense which Tenant sustains or incurs if either the
quantity or character of electric service is changed or is no longer available
or suitable for Tenant's requirements.

                                    ARTICLE 5

                                    INDEMNITY

     5.1. Without limiting anything set forth in Section 2.6, Tenant hereby
indemnifies Landlord from any loss or liability of whatever nature:

          (a) arising or claimed to arise from any act, omission or negligence
of Tenant or any of the other Tenant Parties (other than any subtenant,
contractor or invitee of Tenant) occurring in or about the Building and/or the
Land except to the extent caused by the negligence, misfeasance or omission of
Landlord or Landlord's Parties;

                                      -17-

<PAGE>

          (b) arising or claimed to arise from any act, omission or negligence
of any subtenant, contractor or invitee of Tenant occurring in the Premises
except to the extent caused by the negligence, misfeasance or omission of
Landlord or Landlord's Parties; and

          (c) arising or claimed to arise from any accident, injury or damage
whatsoever caused to any Person (as hereinafter defined) or to the property of
any Person occurring during the Term (or during any other period during which
Tenant shall use or occupy the Premises) in or about the Premises caused by
Tenant or any of Tenant's Parties, except to the extent caused by the
negligence, misfeasance or omission of Landlord or Landlord's Parties.

     5.2. Without limiting anything set forth in Section 2.6, Landlord hereby
indemnifies Tenant from any loss or liability of whatever nature:

          (a) arising or claimed to arise from any act, omission or negligence
of Landlord or any of the other Landlord Parties occurring in or about the
Building and/or the Land except to the extent caused by the negligence,
misfeasance or omission of Tenant or any of Tenant's Parties; and

          (b) arising or claimed to arise from any accident, injury or damage
whatsoever caused to any Person occurring during the Term in or about the
Premises caused by Landlord or any of Landlord's Parties except to the extent
caused by the negligence, misfeasance or omission of Tenant or any of Tenant's
Parties.

Neither party shall have any liability for any consequential damages suffered by
the other party or by any Person claiming through such party.

                                    ARTICLE 6

                                 QUIET ENJOYMENT

     6.1. Tenant shall peaceably and quietly have, hold and enjoy the Premises
without hindrance, ejection or molestation by Landlord or any other person
lawfully claiming through or under Landlord, subject, nevertheless, to the
provisions of this Lease and to Superior Leases and Mortgages (both as
hereinafter defined). This covenant shall be construed as a covenant running
with the Land, and is not, nor shall it be construed as, a personal covenant of
Landlord, except to the extent of Landlord's interest in the Real Property and
only for so long as such interest shall continue, and thereafter Landlord shall
be relieved of all liability hereunder and this covenant shall be binding only
upon subsequent successors in interest of Landlord's interest in this Lease, to
the extent of their respective interests, as and when they shall acquire the
same, and so long as they shall retain the same.

                                    ARTICLE 7

                      ASSIGNMENT, SUBLETTING AND MORTGAGING

     7.1. (a) Tenant shall not, whether voluntarily, involuntarily, or by
operation of law or otherwise (i) assign or otherwise transfer this Lease or any
interest or estate herein, (ii) sublet the Premises or any part thereof or allow
the Premises or any part thereof to be used or occupied by others in violation
of Article 2, or (iii) mortgage, pledge, encumber or otherwise hypothecate this
Lease or the Premises or any part thereof in any manner; without in each
instance obtaining the prior written consent of Landlord, except as otherwise
provided in this Article 7. For purposes of this Article 7, (A) a transfer of
control of Tenant or any subtenant at any one time or over a period of time
through a series of transfers shall be deemed an assignment of this Lease or
such sublease, as the case may be, and (B) a material modification, amendment or
extension of a sublease requiring Landlord's consent hereunder shall be deemed a
sublease requiring approval of the relevant provisions thereof in accordance
with the terms of this Article 7, and (C) any Person or legal representative of
Tenant to whom Tenant's interest under this Lease passes by operation of law or
otherwise shall be bound by the provisions of this Article 7. For the purposes
of this Article 7, "control" shall be deemed to mean either (1) ownership of not
less than fifty percent (50%) of the issued and outstanding capital stock of any
corporate entity or not less than fifty percent (50%) of the legal and equitable
interest in any other business entity or (2) ownership of not less than
twenty-five percent (25%) of the issued and outstanding capital stock of any
corporate entity or not less than twenty-five percent (25%) of the legal and
equitable

                                      -18-

<PAGE>

interest in any other business entity and the possession of the power directly
or indirectly to direct or cause the direction of management and policy of such
corporation, partnership or other business entity, whether through the ownership
of voting securities, by contract, common directors or officers, the contractual
right to manage the business affairs of any such corporation, partnership or
business entity or otherwise. For purposes of the foregoing sentence, stock
ownership shall be determined in accordance with the principles set forth in
Section 544 of the Internal Revenue Code of 1986, as the same existed on October
22, 1986 and the transfer of the Stock of any corporate tenant or subtenant
shall be deemed not to include the sale of such Stock by persons or parties,
through the "over-the-counter market" or through any recognized stock exchange,
other than those deemed "insiders" within the meaning of the Securities Exchange
Act of 1934, as amended.

          (b) Tenant shall have the right, upon prior notice to Landlord (or
simultaneous notice to Landlord if prior notice is prohibited by applicable law
or rules and regulations of applicable governmental authorities or regulatory
agencies thereof or is otherwise reasonably impracticable), but without the
consent of Landlord to assign this Lease (i) to a corporation or other entity
into or with which Tenant is merged or consolidated or to an entity to which
substantially all of Tenant's assets are transferred, or (ii) to a corporation
or other entity arising out of the reorganization of Tenant from (A) a
partnership to a corporation the majority of shareholders of which were the
partners of Tenant immediately prior to such reorganization or (B) a corporation
to a partnership the majority of partners of which were the shareholders of
Tenant immediately prior to such reorganization, or (iii) in connection with a
transaction involving the sale, transfer or exchange of stock of any corporate
tenant or the sale or transfer of all or any portion of the partnership
interests in any partnership tenant (any corporation, partnership or entity
which is the successor of Tenant following any of the transactions described in
(i), (ii) or (iii) above, a "successor corporation or partnership"); provided,
in each such case, such merger, consolidation, sale, transfer or exchange of
stock or partnership interests or transfer of assets shall be for a valid
business purpose and not principally for the purpose of transferring the
leasehold estate created by this Lease and, provided, further, such surviving or
acquiring corporation or entity shall use the Premises in compliance with and
assume the terms and provisions of, this Lease from and after the effective date
of the assignment (each of the foregoing are hereinafter called a
"Reorganization"). In addition, Tenant shall have the right, upon ten (10)
Business Days' prior notice to Landlord, but without Landlord's consent, to
assign this Lease to an Affiliate (defined below) of Tenant. The term
"Affiliate" shall mean, with respect to the party at issue, any Person who or
which directly or indirectly controls, is controlled by or is under common
control with such party.

          (c) Tenant shall have the right, upon ten (10) Business Days' prior
notice to Landlord, but without Landlord's consent, to sublease all or any
portion of the Premises to an Affiliate of Tenant (or to allow such Affiliate to
occupy the same pursuant to an occupancy agreement). If any Affiliate entity
shall cease to be an Affiliate of Tenant, then such entity may continue to
sublease or occupy any portion(s) of the Premises it has subleased or occupied
as an Affiliate of Tenant, as the case may be, provided and upon condition that
(A) from and after the date such entity ceases to be an Affiliate of Tenant the
sublease rent and other occupancy charges payable by such entity shall be at
least equal to the Fixed Rent and the Additional Rent payable hereunder by
Tenant (on a per square foot basis) with respect to such portion(s) of the
Premises, (B) the principal purpose of the transaction which results in such
entity no longer being an Affiliate of Tenant shall not be the acquisition of
such Affiliate's interest in its sublease or other occupancy agreement, and (C)
the sublease or other occupancy agreement shall comply with the provisions of
this Article 7.

          (d) Supplementing Section 7.1(b) and without limiting any other
provision of this Article 7, Landlord expressly agrees that Tenant shall have
the right, upon prior notice to Landlord, but without the consent of Landlord,
to assign this Lease or sublease the Premises to WellChoice, Inc. (or its
successor-in-interest, or an Affiliate of WellChoice, Inc. or an entity
acquiring control of the stock or control of all of the assets of WellChoice,
Inc., "Well") in connection with the currently contemplated merger by Tenant
into (or asset sale by Tenant to) Well; provided, however, that (i) such
assignee has a Material Net Worth and (ii) the other conditions set forth in
Section 7.1(b) are satisfied.

     7.2. If this Lease shall be assigned, whether or not in violation of the
provisions of this Lease, Landlord may collect rent from the assignee. If the
Premises or any part thereof are sublet or used or occupied by anyone other than
Tenant, whether or not in violation of this Lease,

                                      -19-

<PAGE>

Landlord may, after the occurrence of an Event of Default (as hereinafter
defined) by Tenant, collect the Rent from the subtenant or occupant. In either
event, Landlord may apply the net amount collected to the Rent herein reserved,
but no such assignment, subletting, occupancy or collection shall be deemed a
waiver of any provisions of Section 7.1, or the acceptance of the assignee,
subtenant or occupant as tenant. Nothing contained herein shall be construed to
relieve the Tenant named herein or any assignee or other successor in interest
(whether immediate or remote) of the Tenant named herein from the full and
prompt payment, performance and observance of the covenants, obligations and
conditions to be paid, performed and observed by Tenant under this Lease, except
to the extent expressly provided in Section 7.13 hereof. The consent by Landlord
to a particular assignment, subletting or use or occupancy by others shall not
in any way be considered as a consent by Landlord to any other or further
assignment, or subletting or use or occupancy by others. Reference in this Lease
to use or occupancy by others (that is, anyone other than Tenant) shall not be
construed as limited to subtenants but shall also include licensees and others
claiming under or through Tenant, immediately or remotely.

     7.3. Any assignment or transfer shall be made only if, and shall not be
effective until, the assignee shall execute, acknowledge and deliver to Landlord
an agreement in recordable form and otherwise in form reasonably satisfactory to
Landlord, whereby the assignee shall assume the obligations and performance of
this Lease and agree to be bound by and upon all of the covenants, agreements,
terms, provisions and conditions hereof on the part of Tenant to be performed or
observed from and after the effective date of such assignment and whereby the
assignee shall agree that the provisions of Section 7.1 hereof shall,
notwithstanding such an assignment or transfer, continue to be binding upon it
in the future. Notwithstanding any assignment or transfer, whether or not in
violation of the provisions of this Lease, and notwithstanding the acceptance of
the Fixed Rent (or any other amounts required to be paid by Tenant pursuant to
this Lease) by Landlord from an assignee or transferee or any other party,
Tenant shall remain fully and primarily liable for the payment of the Fixed Rent
and the Additional Rent due and to become due under this Lease and for the
performance of all of the covenants, agreements, terms, provisions and
conditions of this Lease on the part of Tenant to be performed or observed,
except to the extent expressly provided in Section 7.13 hereof.

     7.4. If Tenant shall, at any time or from time to time, during the Term
desire to assign this Lease or sublet all or part of the Premises, other than as
expressly permitted pursuant to the provisions of Section 7.1 hereof, Tenant
shall give notice thereof to Landlord, which notice shall be accompanied by (a)
a statement setting forth in reasonable detail the identity of the proposed
assignee or subtenant, (b) a statement setting forth in reasonable detail the
nature and character of the business of the proposed assignee or subtenant and
its proposed use of the Premises, (c) current financial information with respect
to the proposed assignee or subtenant, (d) in the case of a sublease of less
than the entire Premises, a floor plan clearly indicating the portion of the
Premises to be subleased and all means of ingress and egress to such portion of
the Premises to be subleased and to the remainder of the Premises, and (e) such
additional information related to the proposed assignment or sublease as
Landlord shall reasonably request, provided, however, Landlord shall be entitled
to make only one (1) such request in connection with each proposed assignment or
sublease and any such request shall be made within five (5) Business Days after
Landlord's receipt of any such notice (a "Tenant Notice").

     7.5. (a) If Tenant shall furnish Landlord with a Tenant Notice with respect
to a proposed assignment or subletting and Landlord shall fail to notify Tenant
of its approval or disapproval of any such proposed assignment or subletting
within twenty (20) Business Days after it receives a Tenant Notice, or, if
Landlord shall request any additional information in accordance with Section
7.4(e) above, then within ten (10) Business Days after Landlord has received the
information requested, Landlord shall be deemed to have consented to the
proposed assignment or subletting pursuant to the Tenant Notice. Notwithstanding
the foregoing, Tenant shall have no right to assign this Lease or to sublease
all or any portion of the Premises unless Tenant shall, at least five (5)
Business Days prior to the effective date of any proposed assignment or
sublease, deliver to Landlord a true and correct copy of the proposed assignment
instrument or sublease, as the case may be, except, however, that timely
delivery of the same shall not be a condition precedent to an assignment or
subletting permitted pursuant to Section 7.1 provided Tenant delivers to
Landlord a true and correct copy of any assignment instrument or sublease made
pursuant to Section 7.1 promptly following the execution thereof.

          (b)  If Landlord shall fail to respond to a Tenant Notice within the
periods provided in Section 7.5(a) above and thereby be deemed to have consented
to the proposed

                                      -20-

<PAGE>

assignment or sublease, Landlord shall, upon Tenant's request, execute and
deliver to Tenant, a statement prepared by Tenant and in form reasonably
acceptable to Landlord confirming such deemed consent within ten (10) days of
the submission of such statement to Landlord. If Landlord shall have or shall be
deemed to have consented to such assignment or subletting as provided herein,
Tenant shall be free to assign this Lease to such proposed assignee or sublet
the Premises or the portion thereof which is the subject of such sublease to
such proposed subtenant on the same material terms and conditions set forth in
the Tenant Notice subject to the terms and conditions of this Lease. Tenant
acknowledges and agrees that Landlord's approval (or deemed approval) of any
assignment or sublease in accordance with the terms of this Article 7 shall not
constitute Landlord's approval of any of the specific terms of such assignment
or sublease, as the case may be, and Tenant shall cause any such assignment or
sublease to comply with the terms and provisions of this Lease in all respects.

         (c)   If Tenant shall fail to execute and unconditionally deliver an
assignment or sublease in accordance with a Tenant Notice which has been
consented or deemed consented to by Landlord within six (6) months after the
date of Landlord's consent or deemed consent thereto, then any election or
deemed election or consent or deemed consent of Landlord with respect to such
proposed assignment or sublease shall be withdrawn and of no further force and
effect and any assignment or sublease thereafter entered into must again comply
with the terms of this Article 7.

         (d)   With respect to each any every sublease permitted under this
Lease:

         (i)   the term of any sublease shall expire no later than the day
preceding the Expiration Date; and

         (ii)  in the case of a subletting which includes less than entire
floor(s), all costs incurred with respect to providing reasonably appropriate
means of ingress and egress from the sublet space (which means of ingress and
egress shall conform to Legal Requirements and shall be subject to the
provisions of Article 15, with respect to Tenant Changes), shall be borne by
Tenant.

    7.6. Landlord shall not unreasonably withhold its consent to any request by
Tenant to assign this Lease or sublet all or any portion of the Premises
pursuant to and in accordance with Section 7.5. In the event that as of the date
of Landlord's consent and as of the effective date of the proposed assignment or
the commencement date of the proposed sublease, no Event of Default shall have
occurred and be continuing, it shall be unreasonable for Landlord to withhold
its consent to a proposed assignment or sublease if all of the following
conditions have been met:

         (a)   in Landlord's reasonable judgment (i) the proposed assignee or
subtenant is engaged in a business or activity, and the Premises, or the
relevant part thereof, will be used in a manner, which is in keeping with the
then standards of the Building, and (ii) with respect to a proposed assignment,
the proposed assignee has a sufficient net worth considering the responsibility
involved;

         (b)   the form of the proposed sublease or assignment shall be in
compliance with the applicable provisions of this Lease, and any sublease shall
be subject and subordinate to this Lease in all respects;

         (c)   there shall not be more than five (5) subtenants or occupants
(other than Tenant or any Affiliate of Tenant) occupying space on one floor of
the Premises;

         (d)   the proposed assignee or subtenant shall not be a Protected
Occupant (as hereinafter defined). (Within fifteen (15) days after receipt of a
notice from Tenant stating that Tenant desires to assign this Lease or sublease
all or a portion of the Premises (and in the case of a proposed sublease of less
than the entire Premises, such notice shall identify the portion of the Premises
proposed to be subleased), together with a specific request therefor, Landlord
shall provide Tenant with a list of Protected Occupants. Tenant shall not
contact or negotiate with any of the Protected Occupants (or cause any of the
Protected Occupants to be contacted or negotiated with) in the six (6) month
period following Tenant's receipt of the list of Protected Occupants, provided,
however, such six (6) month period shall be extended for an additional six (6)
months with respect to those Protected Occupants to whom Landlord (or any
Affiliate of Landlord which is an owner of a building in the Project) shall have
submitted a written proposed

                                      -21-

<PAGE>

lease, sublease or occupancy agreement provided that negotiations with respect
to such proposed lease, sublease or occupancy agreement are continuing in the
good faith judgment of Landlord. As used herein, the term "Protected Occupant"
shall mean any entity or person with whom Landlord is currently or has been
negotiating for the demise of space (including additional space) in the Building
comparable (i.e., within twenty percent (20%), higher or lower, in size) to that
which is the subject of Tenant's proposed assignment or subletting, as disclosed
by Landlord to Tenant within ten (10) business days following Tenant's request
for such list in connection with a proposed assignment or subletting, subject to
updating from time to time and in any event in connection with any new or
significantly delayed proposed assignment or subletting by Tenant;

         (e)  the proposed assignee or subtenant shall not be a Person with whom
Landlord or any Affiliate of Landlord which is an owner of a building in the
Project is then negotiating or has had negotiations for the lease of space in
the Building or the Project during the preceding six (6) month period unless
such proposed sublease or assignment is with respect to non-comparable space
(i.e., space that more than twenty percent (20%) higher or lower in size).
(Landlord shall notify Tenant whether or not such proposed assignee or subtenant
is a Person with whom Landlord or any Affiliate of Landlord which is an owner of
a building in the Project is or been negotiating during the preceding six (6)
month period within five (5) Business Days after receipt of a notice from Tenant
identifying the proposed assignee or subtenant, together with a specific request
therefor. As used in this subsection (i), the terms "negotiating" or
"negotiations" shall mean that Landlord or such Affiliate of Landlord which is
an owner of a building in the Project shall have submitted a written proposal to
such Person for the leasing of space in the Building or the Project, as
applicable and, in the good faith determination of Landlord, negotiations with
respect to such proposal are continuing; and

         (f)  the character of the business to be conducted or the proposed use
of the Premises by the proposed assignee or subtenant shall not in Landlord's
reasonable opinion, (i) materially increase Building Operating Expenses; (ii)
materially increase the burden on existing cleaning or other Building services
or elevators over the burden prior to such proposed subletting or assignment
unless Tenant shall agree to pay to Landlord any such increased costs; or (iii)
violate any provisions or restrictions contained in Article 2 or elsewhere
herein relating to the use or occupancy of the Premises.

Landlord's consent to any assignment or sublease shall be set forth in an
instrument prepared by Landlord in form reasonably satisfactory to Landlord,
provided however, that Landlord's consent shall be consistent with the terms and
provisions of this Lease and, in situations where it would be unreasonable for
Landlord to withhold its consent, Landlord shall not impose any additional
requirements or obligations which materially and adversely affect Tenant, any
such assignee or subtenant or which materially and adversely diminish Tenant's
rights under this Lease or subtenant's rights under the sublease; in the case of
any assignment, such instrument shall include an assumption by the proposed
assignee of the obligations of Tenant hereunder arising from and after the date
of such assignment. Landlord's consent shall not be effective until such
instrument is executed and delivered by Landlord, Tenant and the proposed
assignee or subtenant.

    7.7. Any sublease shall provide that notwithstanding anything contained in
this Lease, such sublease shall not be assigned and that the Premises demised
thereunder shall not be further sublet without the prior written consent of
Landlord in each instance, which consent with respect to one further assignment
or with respect to one further sublease of the subleased Premises or any portion
thereof, shall not be unreasonably withheld subject to the terms of this Article
7 (except that subleases made pursuant to Section 7.1 hereof shall be permitted
to be further assigned or the subject of a further subletting otherwise
permitted by Section 7.1 without Landlord's prior consent), and shall also
contain provisions substantially the same as those contained in Sections 12,
42.4 and 42.10(a) and, if Tenant shall allow such subtenant to use or install
the Antenna (as hereinafter defined), 38.3. Except as otherwise expressly set
forth herein, if any such sublease or sub-sublease is assigned or further sublet
without the consent of Landlord in each instance obtained or without compliance
with the provisions of this Article, Tenant shall immediately terminate such
sublease or arrange for the termination thereof, and proceed expeditiously to
have the occupant thereunder dispossessed. Landlord's consent to any sublease or
assignment shall not be deemed or construed to modify, amend or affect the terms
and provisions of this Lease, or Tenant's obligations hereunder, which shall
continue to apply to the occupants thereof, as if the sublease or assignment had
not been made.

                                      -22-

<PAGE>

    7.8. If Landlord shall consent to any assignment of this Lease or to any
sublease, Tenant shall, in consideration therefor, pay to Landlord, as
Additional Rent:

         (a)    In the case of an assignment (other than an assignment to an
Affiliate of Tenant or an assignment otherwise expressly permitted pursuant to
Section 7.1), on the effective date of the assignment, fifty percent (50%) of
all sums and other consideration payable to Tenant by the assignee, for or by
reason of such assignment, whether paid in one or more than one installment,
before or after the effective date of the assignment, including, but not limited
to, sums paid for Tenant's fixtures, leasehold improvements, equipment, Antenna
(as hereinafter defined) or the use thereof, furniture, furnishings or other
personal property (collectively, the "Assignment Proceeds") but excluding:

         (i)    in the case of a sale of Tenant's leasehold improvements or
Tenant's Property, the then unamortized or undepreciated cost of Tenant's
leasehold improvements or Tenant's Property so sold, determined on the basis of
Tenant's accounting records;

         (ii)   in the case of a lease or sublease of Tenant's leasehold
improvements or Tenant's Property, the unamortized or undepreciated cost of
Tenant's leasehold improvements or Tenant's Property so leased or subleased to
such assignee, determined on the basis of Tenant's accounting records; and

         (iii)  the reasonable, actual third-party expenses incurred by Tenant
in connection with such assignment for brokerage commissions and legal fees and
disbursements.

If any portion of the Assignment Proceeds shall be payable over a period of
time, then such costs and expenses shall be amortized over a like period of time
in the proportion that the portion of the Assignment Proceeds in any year bears
to the total Assignment Proceeds. The foregoing expenses are hereinafter
collectively referred to as the "Assignment Expenses." Landlord shall not be
entitled to any Assignment Proceeds derived from an assignment by Tenant to any
Affiliate of Tenant or other subletting expressly permitted pursuant to Section
7.1; and

         (b)    In the case of a sublease (other than a sublease to an Affiliate
of Tenant or a subletting otherwise expressly permitted pursuant to Section 7.1)
fifty (50%) percent of any rents, additional charges or other consideration
payable under the sublease to Tenant by the subtenant which are in excess of the
Fixed Rent and the Additional Rent accruing hereunder during the term of the
sublease, including, but not limited to, sums paid for Tenant's fixtures,
leasehold improvements, equipment, Antenna or the use thereof, furniture,
furnishings or other personal property (collectively, the ("Subletting
Proceeds") excluding:

         (i)    in the case of a sale of Tenant's leasehold improvements or
Tenant's Property the then unamortized or undepreciated cost of Tenant's
leasehold improvements or Tenant's Property so sold, determined on the basis of
Tenant's accounting records;

         (ii)   in the case of a lease or sublease of Tenant's Property, the
allocable portion for such year of the then unamortized or undepreciated cost of
Tenant's Property so leased or subleased, amortized over the remaining Term of
this Lease, which unamortized or undepreciated costs shall be determined on the
basis of Tenant's accounting records; and

         (iii)  the reasonable, actual third-party expenses incurred by Tenant
in connection with such sublease for brokerage commissions, legal fees and
construction of any subtenant improvements by Tenant, the amount of which
construction expenses shall be amortized over the term of the sublease.

The foregoing costs and expenses are hereinafter collectively referred to as the
"Subletting Expenses." Landlord shall not be entitled to any Subletting Proceeds
derived from a sublease by Tenant to any Affiliate of Tenant or other subletting
expressly permitted pursuant to Section 7.1.

    7.9. Tenant hereby indemnifies Landlord against any liability asserted
against Landlord or any Landlord Party for any brokerage commission, finder's
fee, consultant's fee or other compensation with respect to any assignment or
sublease or proposed assignment or sublease; provided, however, if it shall be
finally determined by a court of competent jurisdiction that Landlord or any
Landlord Party is liable for such brokerage commission, finder's fee,
consultant's fee or other compensation based upon a written or oral agreement
between such broker, finder or consultant, as the case may be, and Landlord or
any Landlord Party, as the case

                                      -23-

<PAGE>

may be, then Landlord shall reimburse Tenant for, and hold Tenant harmless
against, such loss, cost, liability or claim, including reasonable attorneys'
fees and disbursements incurred by Tenant in the investigation or defense of
such claim, action or proceeding. Except as set forth in Section 7.13 below, if
this Lease is assigned, the assignor and all its predecessors as tenant
hereunder (collectively, the "predecessor tenants") shall be and remain fully
liable for the due performance and observance of all of the terms and conditions
of this Lease to be performed by Tenant throughout the Term and no amendment of
this Lease or waiver of, or consent to departure from, any of the terms and
conditions of this Lease shall constitute a novation or otherwise release any of
the predecessor tenants, provided, however, if any such subsequent amendment
made without any such predecessor tenant's consent shall increase the
obligations of Tenant hereunder, such predecessor tenant, including, without
limitation, Tenant named herein, shall not be liable with respect to such
incremental increase. Tenant shall pay to Landlord, promptly upon demand
therefor, all reasonable out-of-pocket costs (including, without limitation,
reasonable attorneys' fees and disbursements incurred by Landlord in connection
with any assignment of this Lease or sublease of the Premises, if Landlord's
consent is requested or required therefor).

    7.10. Without limiting anything set forth in Section 7.13 below, the joint
and several liability of Tenant and any immediate or remote successor in
interest of Tenant and the due performance of the obligations of this Lease on
Tenant's part to be performed or observed shall not be discharged, released or
impaired in any respect by any agreement or stipulation made by Landlord, or any
grantee or assignee of Landlord by way of mortgage or otherwise, extending the
time, or modifying any of the obligations, of this Lease, or by any waiver or
failure of Landlord or any grantee or assignee of Landlord by way of mortgage or
otherwise, to enforce any of the obligations of this Lease.

    7.11. The listing of any name other than that of Tenant, whether on the door
of the Premises or the Building directory, if any, or otherwise, shall not
operate to vest any right or interest in this Lease or in the Premises, nor
shall it be deemed to be the consent of Landlord to any assignment or transfer
of this Lease or to any sublease of the Premises or to the use or occupancy
thereof by others.

    7.12. If requested by any subtenant, Landlord shall execute and deliver an
agreement in recordable form to the effect that, if this Lease shall terminate
or be terminated for any reason, Landlord will recognize such subtenant as a
direct tenant of Landlord on the same terms and conditions as are contained in
its sublease, provided that (a) no event of default shall have occurred under
such sublease beyond any applicable grace period, (b) such sublease complies
with the terms of this Lease in all respects, (c) such sublease is for at least
one (1) full floor, (d) such sublease does not, in Landlord's reasonable
judgment, materially increase Landlord's obligations above those set forth
herein, materially diminish Landlord's rights hereunder or provide for rent or
other monetary obligations to Landlord which are less than those provided
herein, (e) such subtenant shall have a net worth, at the time such request is
made by Tenant, at least equal to or in excess of the Sublease Rental Factor (as
hereinafter defined), and (g) such agreement shall provide that Landlord shall
not be (i) liable for any accrued obligation of Tenant or for any act, omission
or default of Tenant, (ii) subject to any offsets, claims or defenses which such
subtenant might have against Tenant, or (iii) bound by any rent or additional
rent which such subtenant might have paid to Tenant more than one month in
advance of its due date. As used herein, the term "Sublease Rental Factor" shall
mean an amount equal to at least ten (10) times the aggregate of the annual
Fixed Rent reserved hereunder plus all of the Additional Rent for the preceding
calendar year, in each case, allocable to portion of the Premises that is the
subject of the subletting.

    7.13. In the event of an assignment of this Lease by Tenant in accordance
with the terms of this Article 7 to an entity having a Material Net Worth (as
hereinafter defined) both on the date of Tenant's Notice (if applicable) and on
the effective date of the assignment and provided Tenant shall not be in default
of any of its obligations hereunder either on the date of Tenant's Notice (if
applicable) or on the effective date of the assignment, if such assignee shall
have a Material Net Worth, Tenant shall be released from any and all liability
hereunder (except with respect to obligations that expressly survive the
Expiration Date) accruing from and after the later to occur of (i) the effective
date of such assignment and (ii) the date on which Tenant shall satisfactorily
establish that such assignee satisfies the Material Net Worth test. The term
"Material Net Worth" shall mean (i) in connection with a Reorganization or an
assignment pursuant to Section 7.1(d), financial net worth equal to or greater
than the product of (a) Two

                                      -24-

<PAGE>

Hundred Million Dollars ($200,000,000) and (b) the percentage increase, if any,
in the Index (as hereinafter defined) from the Index in effect on the
Commencement Date to the Index in effect on the date of Tenant's Notice or the
effective date of the assignment, as the case may be, as evidenced by
documentation reasonably satisfactory to Landlord, and (ii) with respect to any
other assignment permitted under this Article 7, financial net worth equal to at
least ten (10) times the aggregate of the annual Fixed Rent reserved hereunder
plus all of the Additional Rent for the preceding calendar year, in each case,
allocable to the portion of the Premises that is the subject of the subletting.

                                    ARTICLE 8

                                    SERVICES

    8.1.  For purposes of this Lease,

          (a) the term "Business Days" shall mean each day of the year excluding
only Saturdays, Sundays, the holidays identified on Exhibit E annexed hereto and
made a part hereof and any other days which shall hereafter be observed on the
same day by both the Federal and the New York State governments as legal
holidays, and

          (b) the term "Business Hours" shall mean the hours from 8:00 a.m. to
6:00 p.m. on Business Days.

    8.2.  Landlord shall at its cost and expense (except as otherwise provided
below) from and after the Rent Commencement Date:

          (a) provide with respect to the Premises on a non-exclusive basis, (i)
six (6) passenger elevators during Business Hours and (ii) at least one (1)
passenger elevator at all other times; but if the Premises include all of the
second (2/nd/) through ninth (9/th/) floors of the Building), Landlord shall
provide such passenger elevator service by means of a dedicated elevator bank as
shown on the Base Building CDs.

          (b) provide two (2) freight elevators, twenty-four (24) hours a day
and seven (7) days a week, on a "first-come, first-served" basis during Business
Hours and on a reservation, "first-come, first-served" basis during non-Business
Hours, subject to the reasonable requirements of Landlord and other tenants and
occupants of the Building. Landlord shall coordinate with Tenant the use of such
freight elevator by other tenants and occupants of the Building and Landlord.
The freight elevators shall provide service twenty-four (24) hours a day, seven
(7) days a week with respect to the floor(s) where Tenant's Designated
Mechanical Space is located. Tenant shall reimburse Landlord for Landlord's
actual incremental costs incurred for freight elevator service made available at
times other than during Business Hours. Tenant shall not be obligated to pay any
Building charge for the first three hundred (300) hours of overtime freight
elevator service in connection with Tenant's initial move into the Building,
which move may be accomplished over a reasonable period of time; however, Tenant
shall reimburse Landlord for any incremental third-party costs incurred by
Landlord for such overtime use. During Tenant's initial move into the Building,
Landlord shall endeavor to provide Tenant with access to the freight elevator
during Business Hours on a scheduled basis. Subject to the provisions of this
subsection hereinbefore set forth, at Landlord's option, the elevators shall be
operated by automatic control or by manual control, or by a combination of both
of such methods. Landlord acknowledges that Tenant intends to have a mail room
facility in the Premises, and agrees to provide Tenant with priority access to
at least one (1) freight elevator from 6:30 a.m. - 7:30 a.m. Monday through
Saturday and for a half-hour interval in the afternoon Monday through Friday,
both at no additional charge to Tenant except that Tenant shall reimburse
Landlord for any actual costs incurred by Landlord in connection therewith.

          (c) permit Tenant to use the Building loading berths and loading docks
on a "first-come, first-served" basis during Business Hours and on a
reservation, "first-come, first-served" basis at during non-Business Hours,
subject to the reasonable requirements of Landlord and other tenants and
occupants of the Building. If, in Landlord's reasonable judgment, supervision is
required in connection with Tenant's use during hours other than Business Hours
of the Building loading berths and loading docks and Tenant shall fail to engage
its own personnel for such supervision, then member(s) of the Building staff
shall supervise Tenant's use of the Building loading berths and loading docks
and Tenant shall pay Landlord's actual costs for

                                      -25-

<PAGE>

the time of such Building personnel; it being understood and agreed that if
Tenant and any other tenant or occupant of the Building shall use the Building
loading berths or loading docks during hours other than Building Hours without
their own supervising personnel, the costs of same during such other hours shall
be equitably apportioned between Tenant and such other tenant or occupant based
upon each party's usage during such hours. Landlord acknowledges that Tenant
intends to have a mail room facility in the Premises, and agrees to provide
Tenant with priority access to at least one (1) loading dock from 6:30 a.m. -
7:30 a.m. Monday through Saturday and for a half hour interval in the afternoon
Monday through Friday, both at no additional charge to Tenant except that Tenant
shall reimburse Landlord for any actual costs incurred by Landlord in connection
therewith.

         (d)    (i)  maintain and keep in good order and repair the HVAC System
installed by Landlord. Landlord, at its expense, shall furnish to the Premises
for distribution by Tenant, heating and ventilating and condenser water for air
conditioning ("HVAC") as seasonally required in accordance with specifications
set forth on Exhibit J annexed hereto and made a part hereof, during Business
Hours. Tenant shall keep entirely unobstructed all of the vents, intakes,
outlets and grilles, at all times and shall comply with and observe all
reasonable regulations and requirements prescribed by Landlord for the proper
functioning of the HVAC System. In the event that Tenant shall require HVAC at
times other than during Business Hours, Tenant shall give Landlord notice of
such requirement by 3:00 p.m. on the day such HVAC is required and, by 3:00 p.m.
of the last preceding Business Day if such requirement shall be with respect to
a day other than a Business Day, and Landlord shall furnish such service at such
times. Tenant agrees to pay Landlord's actual cost (excluding depreciation of
Building HVAC equipment) to furnish such HVAC on a cost per ton hour basis, as
Additional Rent, provided, however, that if and to the extent Landlord is
providing HVAC to any other tenant in the Building during hours other than
Business Hours at a lesser (or at no) charge, Tenant shall be entitled to an
equally favorable arrangement, and if any other tenants or occupants shall also
require HVAC service during such non-Business Hours, then Landlord's costs in
connection therewith, to the extent attributable to multiple users, shall be
equitably apportioned between Tenant and such other tenants and occupants.
Tenant shall have the right, not to be unreasonably exercised, to verify
Landlord's calculation of such cost.

         (ii)   provide up to 200 tons of supplemental condenser water from the
Building condenser water system for up to twenty-four (24) hours a day and seven
(7) days a week (if requested), for Tenant's technology areas and disaster
recovery floor in accordance with Exhibit N. Tenant shall pay Landlord's actual
cost (excluding depreciation of Building HVAC equipment) to furnish such
supplemental condenser water on a cost per ton hour basis, as Additional Rent.
Tenant shall have the right, not to be unreasonably exercised, to verify
Landlord's calculation of such cost.

         (iii)  perform periodic purging of each floor of the Premises of indoor
air contaminants on a schedule reasonably determined by Landlord to be
consistent with good building management and air quality control practices.

         (iv)   provide continuous monitoring (including monthly reports, copies
of which shall be provided to Tenant) of the Building ventilation system for
carbon monoxide. Said monitoring will be designed to signal an alarm if any
toxic levels of carbon monoxide are detected, in which event, the Building
manager shall, to the extent permitted by law, cause the building engineer to
manually shut down the Building ventilation system or take such action as may be
appropriate under the circumstances and, in any event, advise Tenant as to what
action has been taken. If in accordance with good building management and air
quality control practices, additional monitoring of air quality within the
Premises is required, Landlord shall retain an independent testing agency to
perform monthly testing for this purpose.

         (e)    (i)  provide Building standard cleaning and janitorial services
for the Premises in accordance with the cleaning specifications annexed hereto
as Exhibit F. Any dispute under this Section 8.2(e)(i) shall be resolved by
arbitration pursuant to Article 35 hereof. Tenant shall reimburse Landlord for
the cost to Landlord of removal from the Premises and the Building of so much of
any refuse and rubbish of Tenant as shall exceed that ordinarily accumulated
daily in the routine of business office occupancy. If Tenant shall desire any
cleaning services beyond those provided in the specifications attached hereto as
Exhibit F, Tenant shall arrange the same directly with the cleaning contractor
and Landlord shall have no liability therefor.

                                      -26-

<PAGE>

              (ii)   If Landlord is in material default of its obligation to
provide the cleaning services required to be provided by Landlord and such
default continues after sixty (60) days notice and opportunity to cure, then
Tenant, within thirty (30) days after the expiration of such sixty (60) day
period, may notify Landlord of its intent to provide its own cleaning services.
Tenant's cleaning contractor shall be subject to the approval of Landlord, not
to be unreasonably withheld, and shall not cause labor disputes in the Building
or the Project. Upon Tenant's assumption of responsibility for cleaning the
Premises, Landlord shall have no further obligation hereunder with respect
thereto, and Landlord shall make an appropriate adjustment to the Base Year
Operating Expenses equal to the incremental cost of cleaning the Premises in the
Base Operating Expense Year.

              (iii)  If during the Term, Tenant shall believe in good faith that
the quality of the performance of the cleaning contractor designated by Landlord
to perform cleaning services is not consistent with the quality of cleaning
services then being performed by first-class cleaning contractors in comparable
first-class office buildings in New York City or can be obtained at a lower cost
by Tenant, then Tenant shall have the right to request Landlord to change
cleaning contractors. Any disputes regarding this Section 8.2(e)(iii) shall be
resolved by arbitration pursuant to Article 35.

              (iv)   Landlord shall cause the lobby and other public and common
areas of the building to be maintained to the standard of a first-class office
building and shall cause the public and common portions of the Building to be
exterminated regularly to eliminate infestation by vermin, rodents and roaches,
and in addition, whenever there shall be evidence of such infestation in the
public portions of the Building.

              (v)    Landlord shall cause the exterior of the windows of the
Premises to be cleaned four (4) times per year, weather permitting.

              (f)    furnish hot and cold water for lavatory and drinking and
standard office cleaning purposes. If Tenant requires, uses or consumes water
for any other purposes, Landlord may install a meter or meters or use other
means to measure Tenant's water consumption for all purposes, and Tenant shall
reimburse Landlord for the cost of meter or meters and the installation thereof,
and shall pay for the maintenance of said meter and the installation equipment.
Tenant shall reimburse Landlord for the cost of all water consumed in excess of
water used for lavatory, drinking and standard building office cleaning
purposes, as measured by said meter or meters or as otherwise measured,
including sewer rents.

              (g)    provide (as determined by Landlord in its good faith
business judgment but, in any event, consistent with that provided by comparable
first-class office buildings located in New York City) security to the common
and mechanical areas of the Building and to common areas of the Project (the
latter which may be accomplished pursuant to the CAM Agreement), seven (7) days
a week, twenty-four (24) hours a day. Attached hereto as Exhibit U are security
specifications Tenant specifically requests Landlord to implement or cause to be
implemented, which specifications Landlord hereby approves.

              (h)    Landlord shall provide Tenant with up to 1000 kw of
emergency power for Tenant's sole consumption in accordance with Exhibit J.
Tenant shall pay to Landlord as Additional Rent the cost of such power. Further,
Tenant shall pay to Landlord as Additional Rent Tenant's share of the cost of
operating, maintaining, repairing and testing the emergency generator, subject
to equitable apportionment between Tenant and any other users of power from such
emergency generator. Tenant shall have the right, not to be unreasonably
exercised, to verify Landlord's calculation of such cost.

       8.3.   (a)    Landlord reserves the right without liability to Tenant to
interrupt, curtail or suspend the services required to be furnished by Landlord
under this Article 8 when the necessity therefore arises by reason of accident,
emergency, mechanical breakdown, or when required by any Legal Requirement, or
for any other cause beyond the reasonable control of Landlord. If, as a result
of (a) any such interruption, curtailment or suspension, for any reason other
than the negligence or misuse of Tenant or any person claiming by, through or
under Tenant or their respective employees, agents, servants or invitees, or (b)
the occupancy by Landlord of any portion of the Premises during the performance
of any alterations or repairs, or (c) the failure by Landlord to perform any
repairs that it is obligated to perform under this Lease, (i) during the first
thirteen (13) months following completion of the Post Delivery Base Building

                                      -27-

<PAGE>

Work, the Premises or any portion thereof shall be untenantable for a period of
greater than one (1) Business Day or (ii) from and after the end of the
thirteenth (13th) month following completion of the Post Delivery Base Building
Work, the Premises or any portion thereof shall be untenantable for a period of
seven (7) consecutive Business Days or ten (10) days in any fifteen (15) day
period and Tenant shall not use or occupy the Premises or such portion thereof
for the conduct of its business during such period of seven (7) consecutive
Business Days or ten (10) days in any fifteen (15) day period, then, the Fixed
Rent and the Additional Rent payable pursuant to Article 3 hereof shall be
abated or reduced, as the case may be, in the proportion that the untenantable
area of the Premises bears to the total area of the Premises, for each day that
Tenant shall not be able to occupy the Premises or such portion thereof for the
conduct of its business during the period beginning on the date following the
end of such period of greater than one (1) Business Day period or such period of
seven (7) consecutive Business Days or ten (10) days in any fifteen (15) day
period, as the case may be, and terminating on the date that such interruption,
curtailment or suspension of service is ended or remedied or such occupancy by
Landlord shall be ended or the repair required to be performed by Landlord has
been completed, as the case may be, in each instance to the extent reasonably
necessary to render the Premises, or such portion thereof, tenantable. Upon
cessation of the condition which prevented Landlord from supplying HVAC or any
other services provided by the other Building systems or facilities, Landlord
shall promptly and diligently pursue the restoration of such HVAC service or
other service. Nothing contained in this Section 8.3(a) shall be deemed to limit
any rights Tenant may have in the event of a change in circumstances judicially
determined to constitute constructive eviction.

              (b)    Landlord shall endeavor to coordinate all regularly
scheduled maintenance of the major base Building services (e.g., elevator and
HVAC) with Tenant. Landlord shall repair critical systems needed for Tenant's
use and occupancy by using overtime labor if necessary, provided Tenant shall
reimburse Landlord for the actual cost incurred by Landlord for such overtime
labor.

       8.4.   Landlord will not be required to furnish any other services,
except as may otherwise be specified in this Lease.

       8.5.   Tenant, at its sole cost and expense, shall cause the Premises to
be exterminated, to the extent and as frequently as Landlord reasonably requires
and to the reasonable satisfaction of Landlord and shall for such purposes
employ exterminators reasonably designated by Landlord. If Tenant shall have
dining facilities in the Premises, Tenant shall, on a weekly basis, cause the
portion of the Premises on which such dining facilities are located to be
exterminated, to the reasonable satisfaction of Landlord and by exterminators
designated by Landlord, to keep the Premises free of vermin and rodents. Except
as expressly provided herein, however, the foregoing shall not constitute any
approval or consent to the use of the Premises for such purposes. If Tenant
fails to comply with the foregoing extermination obligations, Landlord, in
addition to any other remedies available to it under this Lease or pursuant to
law, may furnish such exterminating services and the reasonable cost therefor
shall be paid by Tenant within ten (10) Business Days after demand therefor as
Additional Rent hereunder.

       8.6.   (a)    If and for so long as Tenant leases the entire second
through ninth (2/nd/-9/th/) floor of the Building, Tenant shall have the right
to have a private desk servicing the Premises for security purposes provided
that the same shall not result in jurisdictional or other labor disputes. If and
for so long as Tenant leases and occupies less than the entire second through
ninth (2/nd/-9/th/) floors of the Building, Tenant shall have the right during
the Term to (a) have one (1) of its employees or agents sit at a building
concierge desk prominently displaying Tenant's name in the lobby of the Building

              (b)    Tenant may implement its own reasonable security procedures
for its employees and visitors provided that Tenant's procedures for
implementing security shall (i) be reasonably approved by Landlord, (ii) be
coordinated with Building and Project security procedures and (iii) not
interfere with the access to and from floors and areas of the Building not
occupied by Tenant (other than to a de minimis extent). Landlord shall use
reasonable efforts to cause other tenants and occupants of space in the Building
serviced by the same elevators that service the Premises or any portion thereof,
if any, to cooperate and observe the procedures promulgated by Tenant with
respect to access from the lobby to any shared elevator bank.

                                      -28-

<PAGE>

              (c)    Tenant shall have the right to install security devices as
necessary in strategic core areas and common areas of the Building as well as at
Building perimeter locations and fire stairs serving the Premises for closed
circuit television equipment, subject to Landlord's approval, which approval
shall not be unreasonably withheld.

              (d)    Tenant shall have the right to install an internal security
system tied into the Building's Class E systems.

              (e)    Tenant shall have the right to install (or to cause
Landlord to install at Tenant's expense) certain duplicate (i.e., view only)
monitoring systems so that Tenant shall have the ability to monitor certain
Building systems, including, without limitation, the temperature of the chilled
or condenser water delivered to the Premises.

                                    ARTICLE 9

                                    BROKERAGE

       9.1.   Landlord and Tenant each represents and warrants to the other that
it has not dealt with any real estate broker, finder or like agent in connection
with this transaction other than Insignia/ESG Inc. and Ascot Brokerage, Ltd.
(collectively, the "Brokers"), which Brokers' fees shall be paid by Landlord
pursuant to separate brokerage agreements. Tenant shall indemnify and hold
Landlord harmless from and against any and all claims for commissions, fees or
other costs or compensation by any real estate broker, finder or like agent
other than the Brokers who shall claim to have dealt with Tenant in connection
with this transaction and for any and all costs incurred by Landlord in
connection with such claims, including, without limitation, reasonable
attorney's fees and disbursements. Landlord shall indemnify and hold Tenant
harmless from and against any and all claims for commissions, fees or other
costs or compensation by any real estate broker, finder or like agent who shall
claim to have dealt with Landlord in connection with this transaction and for
any and all costs incurred by Tenant in connection with such claims, including,
without limitation, reasonable attorney's fees and disbursements. This provision
shall survive the expiration or earlier termination of this Lease.

                                   ARTICLE 10

                      ACCESS, NAME OF BUILDING AND SIGNAGE

       10.1.  (a) (i) Except as otherwise expressly provided in this Lease and
except for the space within the inside surfaces of all walls, hung ceilings,
floors, windows and doors bounding the Premises, all of the Building, including,
without limitation, exterior Building walls, core corridor walls and doors and
any core corridor entrance, any terraces or roofs adjacent to the Premises, and
any space in or adjacent to the Premises used for shafts, stacks, pipes,
conduits, fan rooms, ducts, electric or other utilities, sinks or other Building
facilities, and the use thereof, as well as access thereto through the Premises
for the purposes of operation, maintenance, decoration and repair, are reserved
to Landlord and persons authorized by Landlord. Notwithstanding the foregoing,
Tenant shall have the right at reasonable times after written notice to Landlord
to utilize in common with Landlord, the electric closet(s), if any, on each
floor of the Premises as well as the existing dampers and the outside air shaft
of the Building for the purposes for which they were designed or constructed
only and Tenant shall be permitted to install louvers reasonably approved by
Landlord for ventilation exhaust purposes at locations in the Building shown on
Exhibit G annexed hereto and made a part hereof. Subject to Landlord's prior
consent, which consent shall not be unreasonably withheld, and subject to
Article 15 hereof, Tenant shall have the right to penetrate the setback roof
with venting and exhaust. Tenant shall have primary use of the telephone
electric closets which shall be located in the Premises in such locations as
determined by Landlord within thirty (30) days following the Commencement of
Construction of the Building and reasonably acceptable to Tenant, provided that
other tenants and occupants of the Building may run telephone connections
through such telephone closets as long as same does not interfere with or
diminish (other than to a de minimis extent) Tenant's use thereof. In addition,
at reasonable times after reasonable notice to Landlord Tenant shall be
permitted access to (A) such portions of the utility rooms, spaces, shafts and
facilities of the mechanical, electrical, telephone, plumbing and other systems
in and serving the Building as shall be determined by Landlord within thirty
(30) days following Commencement of Construction of the Building and reasonably
acceptable to Tenant, subject to Landlord's (or any other tenant's or
occupant's) reasonable scheduling requirements and the Rules and

                                      -29-

<PAGE>

Regulations, as Tenant may reasonably require for purposes of making any and all
installations, repairs, corrections, replacements, alterations or additions to
any equipment of Tenant which in any way passes in or through such portions of
the Building, including, without limitation, any Pipes, conduits or risers
necessary or required for the Antenna and the emergency generator, and (B) upon
reasonable notice to Landlord and provided Landlord shall have the right to have
a representative present at all times, Tenant's Designated Mechanical Space and
Tenant's Designated Roof Space; provided, however, that Tenant shall not
materially interfere with Landlord's operation of the Building or with any other
tenant's or occupant's use and enjoyment of Premises demised to them or the
Building. Notwithstanding anything to the contrary contained herein but subject
to the provisions of Article 38, Tenant may not install any equipment in
Tenant's Designated Roof Space which is visible from any ground-level common
area of the Project or from any street or sidewalk in or in the vicinity of the
Project or which requires that the roof or any portion thereof be reinforced to
bear additional load.

              (ii)   Tenant hereby acknowledges that Landlord may, from time to
time, require access through the Premises to mechanical, electrical, telephone,
plumbing and other systems, elements, utility rooms, spaces, shafts and
facilities serving the Building or other tenants or occupants thereof located in
the core of the Building (collectively, "Service Facilities"). Without limiting
anything contained in Section 10.1(a)(i) above, and provided that Tenant shall
be notified of the location of such Service Facilities, Landlord shall have
adequate access to the Service Facilities at reasonable times, upon reasonable
advance notice and subject to Tenant's reasonable scheduling requirements, for
the purposes of making any and all installations, repairs, corrections,
replacements, alterations or additions to any equipment which in any way passes
in, through, under or around such Service Facilities, provided, however, that
Landlord shall use reasonable efforts to minimize interference with, and
Landlord shall not interfere with (other than to a de minimis extent), Tenant's
use and enjoyment of the Premises. Tenant will not do or cause to be done
anything which would in any way materially restrict or materially impair such
access to the Service Facilities. Landlord shall not be responsible for any
inconvenience, annoyance or interruption to Tenant's business arising out of or
as a result of such access to the Service Facilities except as set forth in
Section 8.3(a) hereof.

              (b)    Without limiting Tenant's rights set forth in Article 38
hereof with respect to the Antenna, Tenant shall have the right to utilize for
its exclusive use at no additional charge Tenant's Designated Roof Space to
install, maintain, operate, repair, replace and remove Tenant's gas-fired
domestic water boiler (with respect to the roof) and other mechanical and
electrical equipment reasonably approved by Landlord, provided that (and in the
event Tenant makes or causes to be made such installations, Tenant hereby
covenants and agrees that): (i) such installations are performed in accordance
with all Legal Requirements and in compliance with the terms of Article 15 of
this Lease relating to Tenant Changes, (ii) Tenant shall indemnify and hold
Landlord harmless from any liability, cost or expense (including reasonable
attorneys' fees and disbursements) connected therewith or arising therefrom of
any nature whatsoever, including, without limitation, any reasonable capital
expenses incurred by Landlord in preparing the roof for Tenant's installations;
(iii) Tenant shall promptly repair any damage caused to the roof or any other
portion of the Building by reason of such installation including, without
limitation, any repairs, restorations, maintenance, renewals or replacements of
the roof necessitated or caused by such installations, (iv) subject to Section
15.1(c), Tenant shall remove such installation to the extent the same constitute
Special Tenant Changes or Special Initial Work and repair any resulting damage
to the Building and restore the roof and the Building to the condition which
existed prior to any such installation, ordinary wear and tear and damage by
casualty excepted, all at or prior to the expiration of the Term, at Tenant's
sole cost and expense, (v) Tenant shall obtain any additional insurance coverage
with respect to such installations for the benefit of Landlord in such amount
and of such type as Landlord may reasonably require and is customarily obtained
for owners of office buildings in the City for similar type installations, (vi)
Tenant's Designated Roof Space shall be used only in connection with Tenant's,
Tenant's Affiliates' and Tenant's permitted assignees', occupants' and
subtenants' normal business activities and (vii) if Landlord's structural
engineer shall reasonably deem it advisable that there be structural
reinforcement of the roof of the Building in connection with any such
installation because the load on the roof exceeds forty (40) pounds per square
foot, Landlord shall Perform same at Tenant's cost and expense and Tenant shall
not perform any such installation Prior to the completion of any such structural
reinforcement.

              (c)    Tenant shall have the right to utilize for its exclusive
use at no additional charge Tenant's Designated Mechanical Space to install,
maintain, operate, repair, rePlace and

                                      -30-

<PAGE>

remove Tenant's mechanical and electrical equipment and appurtenances reasonably
approved by Landlord, provided that (and in the event Tenant makes or causes to
be made such installations, Tenant hereby covenants and agrees that): (i) such
installations are performed in accordance with all Legal Requirements and in
compliance with the terms of Article 15 of this Lease relating to Tenant
Changes, (ii) Tenant shall indemnify and hold Landlord harmless from any
liability, cost or expense (including reasonable attorneys' fees and
disbursements) connected therewith or arising therefrom of any nature
whatsoever, including, without limitation, any capital expenses incurred by
Landlord in preparing the roof for Tenant's installations; (iii) Subject to
Section 15.1(c), Tenant shall promptly repair any damage caused to the
mechanical rooms or any other portion of the Building by reason of such
installation, (iv) Tenant shall remove such installation to the extent the same
constitute Special Tenant Changes or Special Initial Work and repair any
resulting damage to the Building and restore the Building to the condition which
existed prior to any such installation, ordinary wear and tear and damage by
casualty excepted, all at or prior to the expiration of the Term, at Tenant's
sole cost and expense, (v) Tenant shall obtain any additional insurance coverage
with respect to such installations for the benefit of Landlord in such amount
and of such type as Landlord may reasonably require and is customarily obtained
for owners of office buildings in the City for similar type installations, (vi)
Tenant's Designated Mechanical Space shall be used only in connection with
Tenant's, Tenant's Affiliates' and Tenant's permitted assignees', occupants' and
subtenants' normal business activities and (vii) if Landlord's structural
engineer shall reasonably deem it advisable that there be structural
reinforcement of the floor of any such Tenant's Designated Mechanical Space in
connection with any such installation because the load on such floor exceeds one
hundred fifty (150) pounds per square foot, Landlord shall perform same at
Tenant's cost and expense and Tenant shall not perform any such installation
prior to the completion of any such structural reinforcement.

              (d)    Landlord shall make available to Tenant, at no additional
charge, shaft space in the Building in locations to be determined by Landlord
within thirty (30) days following Commencement of Construction of the Building
and reasonably acceptable to Tenant. The space used by Tenant within such shafts
shall not exceed Tenant's Proportionate Operating Expense Share of the available
space within such shafts. In addition, Tenant's use of such shafts shall be
subject to such conditions, restrictions and requirements as Landlord may
reasonably impose, including, without limitation, requirements regarding
non-interference with other tenants. Upon request and subject to such
conditions, restrictions and requirements as Landlord may reasonably impose,
including, without limitation, requirements regarding non-interference with
other tenants, Tenant shall be granted reasonable access to Tenant's shaft space
where such access is reasonably necessary in order to permit Tenant to install
and maintain wires, cables, conduits or equipment therein.

              (e)    Subject to Legal Requirements and Insurance Requirements,
Tenant shall have the right (i) to use the fire stairs connecting the floors of
the Premises as convenience stairs and (ii) to upgrade the finishes in the
portions of the fire stairs connecting the floors of the Premises, at its sole
cost and expense.

       10.2.  Landlord reserves the right, and Tenant shall permit Landlord and
persons authorized by Landlord, to install, erect, use and maintain pipes, ducts
and conduits in and through the Premises, provided the installation and/or
erection of such pipes, ducts and conduits are concealed within the walls, floor
or ceiling and provided, further, the same does not (a) diminish the rentable
area of the Premises other than to a de minimis extent, or (b) diminish the
services to be furnished by Landlord to Tenant pursuant to this Lease other than
on a temporary basis.

       10.3.  (a) Subject to Section 10.3(b) below, Landlord and persons
authorized by Landlord shall have the right to enter and/or pass through the
Premises at reasonable times upon reasonable prior notice to Tenant (a) to
examine the Premises and to show them to actual and prospective Superior
Lessors, Mortgagees or prospective purchasers, mortgagees or lessees of the
Building, and during the last year of the Term, prospective tenants, (b) to make
such repairs, alterations, additions and improvements in or to the Premises
and/or in or to the Building or its facilities and equipment as Landlord or
persons authorized by Landlord is or are required to make in connection with the
operation of a first-class building or which are otherwise required or permitted
under the terms of this Lease, and (c) to read any utility meters located
therein; provided that Landlord shall use reasonable efforts to minimize
interference with Tenant's use and enjoyment of the Premises. If any repairs,
alterations, additions or improvements in or to the Premises and/or in or to the
Building or its facilities and equipment shall (i) pose an immediate

                                      -31-

<PAGE>

health or safety hazard, (ii) materially affect or limit Tenant's access to the
Premises, or (iii) materially prevent Tenant's use and enjoyment of any portion
of the Premises comprised of more than five hundred (500) rentable square feet,
then Landlord shall promptly and diligently perform same and employ labor at
overtime or premium pay rates, if necessary, to perform same.

              (c)    Tenant shall have the right to have a representative
accompany Landlord (and persons authorized by Landlord) during any entry into
the Premises. Tenant agrees to have such representative present during Business
Hours on Business Days provided Landlord shall give reasonable advance notice of
the time it desires access. In addition, Tenant shall keep the Building
manager's office advised of the name and telephone number of the person or
agency to be notified on behalf of Tenant in the event of any emergency and
shall provide such a representative at all times of the day and night. If such
representative shall not be provided at any time after reasonable notice when
access to the Premises shall be required or if in the event of an emergency
after reasonable efforts to contact a representative Landlord shall be unable to
do so, Landlord shall nevertheless have the right to enter the Premises.
Landlord shall have no liability to Tenant for any failure of Landlord to
perform any of its obligations hereunder by reason of Landlord's inability to
enter the Premises. Landlord agrees that it shall use reasonable efforts to keep
any information obtained by it or its agents during such entry confidential and
shall use reasonable efforts to prevent the disclosure of the same.
Notwithstanding the foregoing, Tenant shall coordinate cleaning personnel
supervision issues directly with the Building cleaning contractor and Landlord
shall have no notice obligations with respect thereto or liability therefor.

       10.4.  If at any time any windows of the Premises are either temporarily
darkened or obstructed by reason of any repairs, improvements, maintenance
and/or cleaning in or about the Building (or permanently darkened or obstructed
if required by law) or covered by any translucent material for the purpose of
energy conservation, or if any part of the Building, other than the Premises, is
temporarily closed or inoperable, the same shall be without liability to
Landlord and without any reduction or diminution of Tenant's obligations under
this Lease except as otherwise set forth herein, provided that Landlord shall
perform any repairs required to remedy any such temporary darkening,
obstruction, closure or inoperability to the extent required pursuant to Article
19 hereof and in accordance with the provisions of this Article 10. With respect
to any covering of windows of the Premises with translucent material as
aforesaid, Landlord shall consult with Tenant to the extent reasonably
practicable under the circumstances and shall perform any such covering in a
manner consistent with the remaining portion of the facade of the Building. If
the windows in the Premises are temporarily darkened or obstructed, Landlord
shall use reasonable efforts to perform such repairs promptly and in such manner
so as to minimize interference with Tenant's use and occupancy of the Premises.

       10.5.  Landlord reserves the right, at any time without it being deemed a
constructive eviction and without incurring any liability to Tenant therefor, or
affecting or reducing any of Tenant's covenants and obligations hereunder, to
make or permit to be made such changes, alterations, additions and improvements
in or to the Building (including the Premises, subject to the terms hereof) and
the fixtures and equipment thereof, as well as in or to the street entrances,
doors, halls, passages, elevators, escalators and stairways thereof, and other
public parts of the Building, as Landlord or persons authorized by Landlord is
or are required to make in connection with the operation of a first-class
building or which are otherwise required or permitted under the terms of this
Lease, provided that such changes, alterations, additions and improvements shall
not (a) materially affect or limit Tenant's use and enjoyment of the Premises or
Tenant's access thereto or (b) diminish the tenantable area of the Premises
(other than to a de minimis extent) or (c) diminish the services to be furnished
by Landlord to Tenant pursuant to the other sections of this Lease other than on
a temporary basis or (d) materially affect the appearance of the Building as a
first class office building.

       10.6.  Neither this Lease nor any use by Tenant shall give Tenant any
easement or other right in or to the use of any door or any passage or any
concourse or any plaza connecting the Building with any subway or any other
building or to any public conveniences, and the use of such doors, passages,
concourses, plazas and conveniences may without notice to Tenant, be regulated
or discontinued at any time by Landlord.

       10.7.  If Tenant shall not be personally present to open and permit an
entry into the Premises at any time when for any reason, entry therein shall be
urgently necessary by reason of fire or other emergency, Landlord or Landlord's
agents may forcibly enter the same without

                                      -32-

<PAGE>

rendering Landlord or such agents liable therefor (if during such entry Landlord
or Landlord's agents shall accord reasonable care to Tenant's property) and
without in any manner affecting the obligations and covenants of this Lease,
provided, however, that Landlord shall use reasonable efforts to notify Tenant's
representative provided for in Section 10.3 hereof where circumstances
reasonably allow.

     10.8. (a) Except as expressly provided in this Section 10.8, Tenant shall
not have the right to place any signage in, on, or on top of the Building.
Subject to compliance with Legal Requirements (without any representation by
Landlord that any of the following comply with any such Legal Requirements) and
subject to the Building and Project signage criteria annexed hereto as Exhibit L
and made a part hereof, Tenant shall be afforded from and after the date hereof,
the right to have signs bearing the name (or any variation or abbreviation of
such name) of Tenant or (i) with respect to the locations on the exterior of the
Building excluding the top of the Building, any Affiliate who occupies all or
any portion of the Premises in accordance with this Lease and (ii) with respect
to the top of the Building, any Affiliate who occupies at least two hundred
fifty thousand (250,000) square feet in the Building; and/or, in any such case,
the logo thereof placed in one or more of the locations, on the exterior (but
not including the top) of the Building as shown on Exhibit L, provided that to
the extent any such signage to be located in the Building lobby does not comply
with the signage criteria set forth on Exhibit L, Landlord shall not
unreasonably withhold its approval of changes in the design, size, materials,
coloring, lettering and exact location of such signage. Tenant may modify its
signs installed in and on the Building at any time and from time to time subject
to compliance with Legal Requirements and the criteria set forth on Exhibit L,
provided, however, that Landlord shall not unreasonably withhold its consent to
modifications in the design, size, materials, coloring, lettering and exact
location of Tenant's signage if the same do not comply with Exhibit L. The
relative size and placement of signage in the lobby by any other tenants in
the Building shall be harmonious and otherwise appropriate as determined by
Landlord in its good business judgment, it being agreed that if and for so long
as Tenant (or any assignee or sublessee permitted pursuant to Section 7.1)
occupies at least two hundred fifty thousand (250,000) square feet in the
Building, then no other tenant shall be permitted to have any signage in the
lobby that is larger than Tenant's lobby signage.

           (b) If Tenant assigns this Lease or sublets the Premises in
connection with a transaction of the nature described in Section 7.1(b) or (c)
hereof, Tenant shall have the right, in connection with such assignment, to
assign its rights under this Section 10.8 to such assignee or sublessee (and
such assignee or sublessee shall have the right, at its expense, to substitute
signs bearing its name or corporate identity, or any variation or abbreviation
of such name, for those of Tenant erected pursuant to this Section 10.8 in the
location(s) shown on Exhibit L and consistent with the signage criteria
contained in Exhibit L), provided that (i) in no event shall any entity or
Person primarily engaged in the development, ownership, management, operation,
syndication, acquisition, financing or sale of real estate have a right to
substitute any signs bearing its name or identity for those of Tenant and (ii)
such signage shall be appropriate and subject to Landlord's prior approval,
which approval shall not be unreasonably withheld.

           (c) Provided no Event of Default is then occurring and provide Tenant
is then occupying at least twenty-five percent (25%) of the Building, Landlord
shall not install or permit (i) any other health insurance company that
competes directly with Tenant (ii) or any tenant in the Building demising less
than one hundred thousand (100,000) rentable square feet, to install any signs
or plaques of identification on the exterior of the Building or any public areas
of the Land and/or the Building, without the prior consent of Tenant, which
consent shall not be unreasonably withheld.

     10.9. Subject to Building and Project security procedures and regulations
in the event of emergencies, Tenant shall have access to the Premises
twenty-four (24) hours a day, seven (7) days a week

                                   ARTICLE 11

                                   EXCULPATION

     11.1. Tenant shall look solely to the estate and property of Landlord in
the Land and Building for the satisfaction of Tenant's remedies for the
collection of a judgment (or other judicial process) requiring the payment of
money by Landlord in the event of any default by

                                      -33-

<PAGE>

Landlord hereunder, and no other property or assets of any Landlord Parties
shall be subject to levy, execution or other enforcement procedure for the
satisfaction of Tenant's remedies under or with respect to this Lease, the
relationship of Landlord or Tenant hereunder or Tenant's use or occupancy of the
Premises.

     11.2. Tenant acknowledges and agrees that in the event of any transfer or
transfers of title to the Building or of Landlord's interest in a lease of the
Building or such portion of the Building, the transferor shall be and hereby is
relieved and freed of all obligations of Landlord under this Lease accruing
after such transfer, provided that such transferee shall assume such obligations
(subject to the limitations set forth in Section 11.1).

                                   ARTICLE 12

                           SUBMISSION TO JURISDICTION

     12.1. This Lease shall be deemed to have been made in Kings County, New
York, and shall be construed in accordance with the laws of the State of New
York. All actions or proceedings relating, directly or indirectly, to this Lease
shall be litigated only in courts located within the County of New York, except
that any summary proceeding to recover possession of the Premises shall be
litigated in the County of Kings. Tenant, any guarantor of the performance of
its obligations hereunder ("Guarantor") and their respective successors and
assigns hereby irrevocably submit to the jurisdiction of any state or federal
court located within such county.

                                   ARTICLE 13

                      CONDITION OF THE PREMISES; BUILDING;
                            CERTIFICATES OF OCCUPANCY

     13.1. Tenant acknowledges and agrees that, except for the Base Building
Work, Landlord shall not be obligated to do any work to prepare the Premises for
Tenant's occupancy. Tenant further acknowledges that neither Landlord nor any
agent of Landlord has made any representation or promise in regard to the
condition of the Premises except as otherwise expressly set forth herein. The
taking of possession of the Premises by Tenant shall be conclusive evidence
against Tenant that the Premises and, except as expressly set forth herein, the
portion of the Building necessary for occupancy of the Premises, were in good
and satisfactory condition at the time such possession was taken, provided,
however, nothing contained herein shall release or relieve Landlord of its
obligation to perform the Base Building Work or to perform and complete any of
its other obligations expressly set forth in this Lease, including, without
limitation, Landlord's obligation pursuant to Section 19.2(c) to repair latent
defects for twelve (12) months from the Rent Commencement Date (or a longer
period if and to the extent Landlord is covered for such cost under a warranty).

     13.2. Landlord, at its expense (subject to recoupment pursuant to Article
3), shall keep any temporary certificate of occupancy required to be obtained
with respect to the core and shell of the Building in effect following issuance
of the same unless same is impracticable as a result of or in connection with
any act or omission of Tenant or any Tenant Party. Landlord shall, at its
expense (subject to recoupment pursuant to Article 3), obtain and keep in
effect, permanent certificates of occupancy required with respect to the core
and shell of the Building, and Landlord shall use reasonable efforts to obtain
same in a reasonably prompt manner unless same is impracticable as a result of
or in connection with any act or omission of Tenant or any Tenant's Party.

     13.3. Upon completion of the Base Building Work, Landlord shall certify to
Tenant that to the best of Landlord's knowledge, the Base Building Work has been
completed (i) substantially consistent with the Base Building CDs (as the same
may have been modified by Change Orders, shop drawings and field changes) and
(ii) in compliance with all applicable Legal Requirements.

                                   ARTICLE 14

                            RESTRICTIONS ON LANDLORD

                                      -34-

<PAGE>

         14.1. (a) Landlord shall not, without the consent of Tenant, lease any
office space in the Building to any federal, state or municipal agency, other
than for executive uses and uses incidental thereto which do not predominantly
involve direct patronage of the general public, unless the access of the general
public is through the elevators of the Building which do not service the
Premises. Notwithstanding the foregoing, Tenant hereby expressly approves any
lease of space in the Building to, or other occupancy agreement with, any of the
agencies on the list annexed hereto as Exhibit M and made a part hereof for the
uses specified therein.

         (b) If and for so long this Lease shall be in full force and effect,
Landlord shall not lease any retail space in the Building to (i) offices of a
foreign country; employment agency or center; medical or psychiatric office or
medial care clinic; nightclub or fraternal organization; manufacturing, repair
or warehouse center; testing, medical, chemical or biologica1 laboratory; check
cashing facility; pool hall or skating rink; funeral parlor; massage parlor;
pornography or adult book or video store; amusement center or game room; auction
house; flea market; rifle range, gambling facility or casino or OTB; "head
shop;" pawn shop; dry cleaners; photo processor; video arcade or other video
game retailer; a non-name brand outlet, warehouse, close-out, bargain or any
other form of "deep discount" store; or (ii) any health insurance company that
competes directly with Tenant.

                                   ARTICLE 15

                                 TENANT CHANGES

         15.1. General.

               (a)   Tenant Change.

               (i)   Tenant shall not make any change, alteration, installation,
addition or improvement in or to the Premises (a "Tenant Change") other than a
Permitted Change (as hereinafter defined) without the prior written consent of
Landlord, which consent (subject to the terms of this Article 15) shall not be
unreasonably withheld. If Tenant desires to perform Tenant Changes, Tenant shall
give Landlord not less than ten (10) Business Days notice of its intention to
make such Tenant Changes. If Landlord reasonably requires any additional
information or clarification and so notifies Tenant within such ten (10)
Business Day period (or within five (5) Business Days from Landlord's receipt of
Tenant's resubmission of Final Working Drawings, in the case of resubmission of
Final Working Drawings), Tenant shall promptly provide such additional
information or clarification, as the case may be, it being understood and agreed
that Landlord shall request any such additional information or clarification in
good faith. If Landlord shall fail to respond to Tenant's request for a Tenant
Change within ten (10) Business Days after receiving such request (or within
five (5) Business Days from Landlord's receipt of Tenant's resubmission of Final
Working Drawings, in the case of resubmission of Final Working Drawings), or if
Landlord has requested additional information or clarification from Tenant as
hereinabove provided, within ten (10) Business Days after receipt by Landlord of
such additional information or clarification, (or within five (5) Business Days
from Landlord's receipt of Tenant's resubmission of Final Working Drawings, in
the case of resubmission of Final Working Drawings) then such failure to respond
shall be deemed to mean that Landlord has approved such Tenant Change. If
Landlord disapproves any such Tenant Change, Landlord shall include a reasonably
detailed explanation for its disapproval.

               (ii)  "Material Tenant Changes" shall mean Tenant Changes (A)
which cost greater than or equal to One Hundred Thousand Dollars ($100,000) and
require permits or filings, or (B) which adversely affect the Building exterior,
the mechanical, electrical, sanitary or other Building systems, the structure of
the Building, the Building parking garage, or the public, common or mechanical
areas of the Building, or (C) which violate the Ground Lease. All Tenant Changes
other than Material Changes are hereinafter referred to as "Permitted Tenant
Changes."

               (iii) Additional provisions applicable to the Tenant Changes
constituting the initial fitting out of the Premises for Tenant's occupancy (the
"Tenant Initial Work") are set forth in Article 16.

               (b)   Consent to Tenant Changes. Landlord's consent shall not be
required for Permitted Tenant Changes. Landlord's consent shall not be
unreasonably withheld for any

                                      -35-

<PAGE>

Material Tenant Change (including, without limitation, structural changes to
accommodate internal stairways, slab reinforcing and raised ceilings).

           (c)  All Tenant Changes (excluding, however, any Tenant's Property),
upon the expiration or earlier termination of the Term, shall become and shall
remain the property of Landlord but, subject to the terms of this Lease, may be
removed by Tenant if Tenant so elects. Tenant shall not be required to remove
any Tenant Changes other than those Tenant Changes constituting Special Initial
Work (as hereinafter defined) and Tenant Changes consisting of kitchens, raised
computer floors, vaults, internal staircases, dumbwaiters, pneumatic tubes,
vertical and horizontal transportation systems, the Antenna or any other Tenant
Changes of a similar character ("Special Tenant Changes") except notwithstanding
the foregoing, Tenant shall have no obligation to remove raised computer floors
or internal staircases or any Special Tenant Changes that are part of Tenant's
Initial Work. Tenant may, during the last six (6) months of the Term but in no
event later than sixty (60) days prior to the Expiration Date or the earlier
termination of this Lease, request that Landlord identify those Special Tenant
Changes (and Special Initial Work) which Tenant will be required to remove upon
the expiration or earlier termination of the Term and Landlord shall respond to
such request within fifteen (15) days. Upon the expiration or earlier
termination of the Term, Tenant shall remove all such Special Tenant Changes
(and Special Initial Work) so identified by Landlord at Tenant's sole cost and
expense. Prior to performing any Special Tenant Changes, Tenant shall have the
right to request Landlord to determine whether Landlord will, in fact, enforce
Tenant's removal obligations set forth herein with respect thereto, and, if and
to the extent Landlord responds that it will waive such removal obligation, then
Tenant shall be relieved of any obligation to remove such Special Tenant Changes
at the end of the Term.

     15.2. Submission of Plans.

           (a)  General

           (i)  At the time Tenant requests Landlord's written consent to a
Tenant Change, Tenant shall submit to Landlord complete and coordinated
architectural, mechanical and electrical and, to the extent applicable,
plumbing, sprinkler and signage plans and specifications therefor (collectively,
"Final Working Drawings"). All Final Working Drawings shall be on a scale of
1/8" = 1 foot; all detail drawings shall be on a scale of 1/4" = 1 foot or
larger or as otherwise required to reasonably transmit the intent of the plans.
All Final Working Drawings shall be prepared at Tenant's expense by Tenant's
Architect (as hereinafter defined). In each case, Tenant shall submit three (3)
sets of blueprints and one (1) set of reproducible drawings, marked final for
pricing and construction. As used herein, the term "Tenant's Architect" shall
mean (i) any licensed architect or engineer reasonably approved by Landlord, or
any licensed architect or engineer in Tenant's in-house interior design
department.

          (ii)  If in connection with any proposed Tenant Change requiring
Landlord's consent, Landlord submits Tenant's Final Working Drawings to
Landlord's Engineer (as hereinafter defined), and provided that Landlord does
not have in-house capability (as opposed to capacity) comparable to the
third-party capability (as opposed to capacity) of Landlord's Engineer, Tenant
shall reimburse Landlord for the reasonable fees and expenses of Landlord's
Engineer as Additional Rent. In addition, Tenant shall reimburse Landlord for
the reasonable costs and expenses of Landlord's Engineer for reviewing Final
Working Drawings, if and to the extent the Final Working Drawings reflect (A)
structural changes above and beyond standard office installations, including
without limitation structural reinforcement or alterations needed for high
density filing, communicating stairwells, or loading for mechanical equipment,
or (B) Special Tenant Changes or Special Initial Work. As used herein, the term
"Landlord's Engineer" shall mean The Thornton-Tomasetti Group, Inc. or such
other architect, engineer, expeditor or code consultant licensed to practice in
the State of New York as Landlord shall reasonably require given the nature of
the proposed Tenant Change.

          (iii) Landlord's approval of Tenant's Final Working Drawings
shall not constitute Landlord's representation that the same comply with Legal
Requirements or Insurance Requirements or that the same are adequate or suitable
for the work intended and in no event shall Landlord have any liability or
responsibility for Tenant's Final Working Drawings. Tenant agrees that
notwithstanding that Landlord's approval is not required for Permitted Changes,
Tenant shall nevertheless notify Landlord, at least five (5) Business Days prior
to the performance of any Permitted Change, and to the extent Final Working
Drawings (or any other

                                      -36-

<PAGE>

drawings) exist with respect to such permitted changes, Tenant shall submit the
most detailed of such drawings to Landlord together with such notice.

            (b)   Tenant's Architect. Tenant shall pay the fees and expenses of
Tenant's Architect and any other architect, engineer, designer or architectural
engineering or design firm or consultant acting for or on behalf of Tenant and
such persons shall be deemed to be agents of Tenant.

            (c)   As - Built Plans. Within ninety (90) days after the
substantial completion (as hereinafter defined) of any Permitted Tenant Change,
Tenant shall submit to Landlord two (2) complete sets of (i) "as-built" plans
having the same scale as the Final Working Drawings, including detail drawings,
or (ii) the Final Working Drawings marked to reflect field notes and changes.
Within one hundred eighty (180) days after the substantial completion of any
Material Tenant Change, Tenant shall submit to Landlord two (2) complete sets of
"as-built" Plans as aforesaid.

     15.3.  Contractors. In making any Tenant Change, Tenant shall use only
contractors and subcontractors approved by Landlord therefor, which approval by
Landlord shall not be unreasonably withheld provided that Tenant's contractors
and subcontractors would not violate Landlord's union contracts. At the time
Tenant requests Landlord's written consent to a Material Change, or at least
five (5) Business Days prior to making any such Permitted Change, Tenant shall
submit to Landlord for Landlord's approval a list of the contractors and
subcontractors who will perform such Tenant Change. Notwithstanding the
foregoing, the contractors and subcontractors listed on Exhibit O annexed hereto
and made a part hereof (the "Approved List.") have been approved by Landlord.
Reputable contractors and subcontractors may be added to the Approved List, or
substituted for contractors and subcontractors currently listed thereon, upon
mutual agreement of Landlord and Tenant.

     15.4.  Permits.

            (a)   Prior to the commencement of any Tenant Change, Tenant shall
obtain and furnish to Landlord all Permits and shall obtain, execute, file and
furnish to Landlord, copies of all applicable data sheets, filings and other
similar documentation required by Legal Requirements or the Construction Rules
and Regulations (as hereinafter defined). Tenant's Architect shall prepare any
applications and plans required to obtain the Permits. All such applications and
plans shall be subject to Landlord's reasonable approval prior to the submission
thereof to any governmental agency, provided however, (i) that any such
applications and plans shall be approved by Landlord provided they are complete
and correct in all material respects and otherwise consistent with the
documentation and materials submitted to Landlord, and (ii) as an accommodation
to Tenant, Landlord agrees to execute such applications prior to final review in
order to expedite Tenant's permitting process, subject, however, to Landlord's
right to require changes to such applications upon final review. Copies of all
Permits (if any) and one set of Final Working Drawings (to the extent the same
exist) shall be kept at the Premises at all times during the performance of each
Tenant Change. Landlord shall reasonably cooperate with Tenant with respect to
obtaining Permits, including executing (in accordance with the provisions of
this Section 15.4(a)) and filing all documentation necessary or required in
connection therewith, and Tenant shall reimburse Landlord for the reasonable
fees and expenses of Landlord's Engineer in connection therewith as Additional
Rent. Landlord's execution of Permit applications shall not constitute
Landlord's representation that the same comply with Legal Requirements or
Insurance Requirements or are suitable for the work intended, and Landlord shall
have no liability therefor.

            (b)   Promptly after completion of any Tenant Change, Tenant, at its
expense, shall diligently obtain and furnish to Landlord all final governmental
approvals, licenses, "sign-offs" and certificates with respect thereto. To the
extent any Tenant Change affects any life-safety system of the Building and
without limiting the foregoing, Tenant shall obtain and furnish to Landlord all
final governmental approvals, licenses, "sign-offs" and certificates with
respect thereto prior to taking occupancy of the portion of the Premises
affected thereby.

     15.5.  Insurance. Prior to the commencement of any Tenant Change, Tenant
shall furnish to Landlord evidence that Tenant and each of its contractors and
subcontractors have complied with the requirements of Article 17.

                                      -37-

<PAGE>

     15.6. Performance of the Work.

          (a) Prior to the commencement of any Tenant Change (other than
painting, carpeting, wall covering and similar minor decorative changes),
Tenant, at its expense, shall on Business Days during Business Hours require
Tenant's general contractor and all subcontractors to verify on-site dimensions
and existing conditions and to attend a pre-construction meeting with Landlord's
construction or building manager to determine suitable access routes to the
Premises, designated loading, unloading and storage areas for materials, working
hours, temporary utilities, safety precautions and procedures, rubbish removal
and scheduling procedures.

          (b) Tenant shall cause such Tenant Change to be performed (i) in
compliance with all Legal Requirements and Insurance Requirements and in
compliance with Landlord's Construction Rules and Regulations, (ii) in such
manner as not to unreasonably interfere with or delay, or impose any additional
expense upon Landlord in the maintenance or operation of the Building (unless
Tenant shall agree to reimburse Landlord for such expense) and so as not to
cause labor problems in the Building, (iii) with diligence and continuity to
completion, and (iv) substantially in accordance with the Final Working Drawings
submitted to and approved by Landlord. Landlord shall be under no obligation to
coordinate Tenant's work or prepare the Premises therefor and Landlord shall
have no liability with respect to the installation thereof. Subject to the
Construction Rules and Regulations with respect to the manner of performance of
such Tenant Changes, Tenant shall be permitted to perform Tenant Changes during
Business Hours and at all other times, provided that Tenant shall furnish
Landlord with reasonable advance notice of the performance of any such Tenant
Change. In the case of any conflict or inconsistency between the provisions of
this Lease and any of the Construction Rules and Regulations, the provisions of
this Lease shall control.

          (c) If the connection of any utilities, fittings or fixtures of Tenant
shall require a temporary shut-down of any Building system or service or shall
interfere with Building operations or the use of any other portion of the
Building, then the same shall be coordinated with Landlord and shall be
performed only with Landlord's prior consent, which consent shall not be
unreasonably withheld. Tenant shall, at its expense, perform the connection
work other than with respect to the fire alarm and life safety systems.
Landlord, at Tenant's reasonable expense, shall perform such shut-down work
itself or have such work performed by third-party contractors at commercially
reasonable rates.

          (d) If by reason of the performance of any Tenant Change any work
stoppage or labor disruption or dispute shall occur at or affecting the Building
(other than any work stoppage or labor disruption or dispute affecting only the
Premises), Landlord and Tenant shall mutually cooperate to remedy the same,
provided that Tenant shall cease the performance of such Tenant Change during
the continuance of such work stoppage or labor disruption or dispute (unless
such work stoppage or labor disruption or dispute affects only the Premises).
Landlord agrees to use reasonable efforts to enforce provisions contained in
other leases of space at the Building which are similar to the provisions of the
preceding sentence in a uniform manner and Landlord shall not enforce the
provisions of this subparagraph in a manner which discriminates against Tenant.
If by reason of the performance of any Tenant Change there shall be any material
interference with the use and enjoyment of the Premises demised to any other
tenant or occupant in the Building or if the Premises or the Building (or any
work or installations in either) shall be damaged or if the performance of such
Tenant Change shall otherwise interfere with the use or occupancy of any part of
the Building, Tenant shall upon Landlord's request remedy or remove the
condition or conditions complained of. Notwithstanding anything to the contrary
contained in this Section 15.6(d), Landlord and Tenant agree that if in
connection with Tenant's initial move into the Building any work stoppage or
labor disruption or dispute shall occur at or affecting the Building, Tenant
shall not be required to cease such initial move into the Building provided that
(i) Tenant shall cause such move to be completed as expeditiously as possible,
and (ii) Landlord and Tenant shall mutually cooperate to remedy such work
stoppage or labor disruption or dispute.

     15.7 Payment for the Work

          (a) If Empire HealthChoice d/b/a Empire Blue Cross Blue Shield (or
any successor thereto) and its Affiliates shall at any time have net worth less
than ten (10) times the cost of any Tenant Change, Landlord may require Tenant,
if the change is a Material Tenant

                                      -38-

<PAGE>

Change and if reasonable under the circumstances, to obtain and furnish to
Landlord (or require Tenant's general contractor to obtain and furnish to
Landlord) a performance and payment bond satisfactory to Landlord naming Tenant
and Landlord as their interests may appear; it being understood and agreed,
however, that Tenant (and Tenant's general contractor) shall have no obligation
to obtain and furnish to Landlord a payment and performance bond in connection
with the Tenant Initial Work. Notwithstanding the foregoing, all other tenants
and occupants of all or any portion of the Premises other than Empire
HealthChoice d/b/a Empire blue Cross/Blue Shield (or any successor thereto)
and its Affiliates shall be required, if reasonable under the circumstances,
prior to the commencement of any Material Tenant Change, to obtain and furnish
to Landlord (or to require their general contractor to obtain and furnish to
Landlord) a performance and payment bond as aforesaid.

               (b) Any mechanic's lien filed against the Building for work
claimed to have been done for, or materials claimed to have been furnished to,
Tenant, any Affiliate or subtenant of Tenant, or any other Person acting by or
under any of the foregoing shall be discharged by Tenant within thirty (30) days
after Tenant shall have received notice thereof. If Tenant shall fail to
discharge any mechanic's lien within such thirty (30) day period as aforesaid,
Landlord may, but shall not be obligated to, discharge the mechanic's lien by
bond, payment or otherwise and the cost of the discharge will be paid by Tenant
to Landlord as Additional Rent upon receipt of Landlord's invoice therefor.

         15.8. Violations. In the event any notice of violation is placed
against the Building arising out of any Tenant Change, Tenant shall cure such
violation within ten (10) Business Days after notice thereof or if such
violation is of such a nature that it cannot be cured within said ten (10)
Business Day period, Tenant shall commence the curing of said violation within
said ten (10) Business Day period and shall thereafter diligently prosecute to
completion all steps necessary to cure such violation, but in any event within
sixty (60) days. If Tenant shall be unable to cure such violation as aforesaid,
Landlord may, but shall not be obligated to, cure the violation by whatever
action Landlord reasonably deems to be necessary, including the removal of all
or any part of the Tenant Change, and the cost of the action taken by Landlord
to cure such violation shall be paid by Tenant to Landlord as Additional Rent
within ten (10) days of Landlord's demand therefor.

         15.9. Landlord's Costs. Subject to the provisions of Section 15.2(a),
all reasonable third-party costs incurred by Landlord in connection with any
Tenant Change, including but not limited to review of Final Working Drawings,
inspections (but only to the extent Landlord would be entitled pursuant to
Section 15.2(a) to reimbursement for the reasonable fees and expenses of
Landlord's Engineer for reviewing Final Working Drawings for the work to be
inspected), rubbish removal, third party architects and engineers and other
labor (including charges of any of Landlord's Affiliates), electricity, steam,
water, fire protection, security, insurance and similar general conditions items
shall be paid by Tenant as Additional Rent within ten (10) days after Landlord's
demand therefor. Notwithstanding anything to the contrary in this Section 15.9,
Landlord shall not charge any "tap-in" or "tie-in" fees, (or any similar fees)
in connection with Class E systems, supplemental air conditioning, sprinklers or
other mechanical, electrical or plumbing systems in connection with Tenant
Changes or the Tenant Initial Work, nor shall Landlord charge Tenant any
supervisory or administrative fees or surcharges in connection with Tenant
Changes or the Tenant Initial Work. Landlord shall not be entitled to
reimbursement for costs paid to third parties for services that Landlord could
have used in-house personnel to handle, without regard to whether the workload
of such in-house personnel would have accommodated such additional tasks at the
time.

                                   ARTICLE 16

                    BASE BUILDING WORK; TENANT INITIAL WORK.

         Landlord shall construct the Base Building Work and Tenant shall
construct the Tenant Initial Work as hereinafter set forth in this Article 16.
The Base Building Work shall be constructed in accordance with the Base Building
CD's and any Change Orders. The Tenant Initial Work shall be constructed in
accordance with the approved Final Working Drawings therefor.

         16.1. Delivery of Base Building Work.

                                      -39-

<PAGE>

                 (a)    Commencement Date; Ready for Delivery; Substantial
Completion. The "Commencement Date" shall be the date on which the Premises is
"Ready for Delivery" as certified by Tenant in accordance with the provisions of
Section 16.1(b), such certification not to be unreasonably withheld. The Initial
Base Building Work shall be deemed "Ready for Deliver" when all of the
following (the "Delivery Conditions") shall have occurred with respect to the
Base Building Work, except to the extent any of the following constitute Post
Delivery Base Building Work:

                 (i)    Substantial completion in accordance with Legal
Requirements (including without limitation the provisions of the Americans with
Disabilities Act) of all bathrooms servicing the Premises, including plumbing,
fixtures, tiling, mirrors, hardware, partitions, ceiling, lighting and
equipment, as the same are shown on the Base Building CD's. In addition,
Landlord shall provide temporary bathroom facilities for Tenant's contractors
performing the Tenant Initial Work, as shown on the Base Building CD's;

                 (ii)   Substantial completion of the Building enclosure except
for openings required, if any, for the use by Landlord, Tenant or other tenants
of any hoists and other openings required for completing the Base Building Work,
which openings shall not materially delay or materially increase the cost of the
Tenant Initial Work. Landlord shall identify the location of such openings on
the Base Building CD's. Exterior perimeter walls (including perimeter columns)
and other non-vision walls shall be provided insulated and finished with one
layer of gypsum wallboard from the top of the slab to the underside of the deck,
taped and spackled, ready to receive Tenant finishes. Exterior windows shall be
sealed, caulked and watertight. The areas below windows shall receive windowsill
detail which is coordinated with the sheetrock finish;

                 (iii)  Substantial completion of the sprinkler infrastructure,
including combination standpipe/sprinkler risers, pumps and valve connections
which shall be fully operational and code compliant so as to enable Landlord to
obtain a zero occupancy Temporary Certificate of Occupancy ("TCO"), and which
shall include the installation of any temporary sprinkler loop/sprinkler heads
(at a height which shall have been reasonably approved by Tenant) required in
order to secure such TCO;

                 (iv)   Substantial completion of the electrical distribution
system from service switch boards up through risers to floor electrical closets.
The electrical distribution to each floor of the Premises shall include direct
metering, as well as permanent distribution for the local floor fan systems and
hot water heaters;

                 (v)    (A) Delivery of ACP-5 forms for all floors in the
Premises, which ACP-5 forms shall have been delivered at least two (2) months
before the Premises are Ready for Delivery, and (B) Delivery of copies of
certified adhesion and cohesion tests;

                 (vi)   Substantial completion of all Building systems, which
shall be operational, in good working order and performing in accordance with
the specifications included as part of the Base Building CD's;

                 (vii)  Delivery of floor slabs which are broom clean and level,
within a standard of 1/4" every 10 feet. Tenant, within thirty (30) days after
receipt of notice from Landlord that one or more floors has been poured, shall
have the right to perform a floor levelness survey of such floor(s). Tenant
shall notify Landlord of the results of the survey within ten (10) days after
performance thereof. If the survey shows that the above standard has not been
met, then the Delivery Conditions shall not be satisfied until Landlord has
performed all work necessary to cause any nonconforming floors to meet the above
standard. Any dispute whether the floor levelness standard has been met shall be
referred to expedited construction arbitration pursuant to Article 34.
Structural steel and metal deck shall be fireproofed in accordance with Legal
Requirements;

                 (viii) The exterior walls of all core element mechanical rooms,
electric and telecommunications closets and elevator lobbies shall be delivered
sheetrocked from the top of the slab to the underside of the deck, taped,
spackled and with final finishes. The interior walls of all core element
mechanical rooms, electric and telecommunications closets and elevator lobbies,
except for interior walls associated with Post Delivery Base Building Work,
shall be delivered sheetrocked from the top of the slab to the underside of the
deck, taped, spackled and

                                      -40-

<PAGE>

ready to receive Tenant's finishes. The interiors of such core rooms shall have
temporary or permanent lighting installed and operational. Core doors and frames
shall be installed with a finish ready to receive Tenant's final painting, and
with building standard hardware and temporary construction cylinders;

          (ix)    Substantial completion of the main HVAC trunk complete with
smoke, fire dampers and automatic control dampers at the core on each floor of
the Premises, as well as smoke exhaust risers with smoke exhaust fans, all in
accordance with the Base Building CD's. All condenser water risers, cooling
towers, condenser water pumps and plate frame heat exchangers shall be installed
and operational sufficient to handle Tenant's loads in the amounts specified in
the Base Building CD's, with valved connections on each floor for supplemental
capacity as shown in the Base Building CD's. All water-cooled, DX type HVAC air
conditioning equipment shown on the Base Building CD's shall be installed,
commissioned and operational, with ductwork penetrating the core wall. The
perimeter hot water heating system and convector enclosures shown on the Base
Building CD's shall be installed and operational;

          (x)     Connection points shall be available on each floor for
Tenant's strobes and related Class E connections. All fire and safety systems
shown on the Base Building CD's, including alarms, speakers, communications,
strobes, etc. shall be in full service and available on all floors of the
Premises consistent with any zero occupancy TCO requirements.

          (xi)    The passenger and freight car vertical transportation system
shall be sufficiently operational to enable Tenant to transport labor, equipment
and materials required for performance of the Tenant Initial Work and to meet
any zero occupancy TCO requirements;

          (xii)   A valved outlet for natural gas shall be available in the gas
meter room as shown on the Base Building CD's;

          (xiii)  There shall be no unbonded construction liens, nor any uncured
violations of record which would prevent Tenant from obtaining permits required
for the Tenant Initial Work. The Base Building Work shall be delivered in
compliance with Legal Requirements and with a TCO for the Premises sufficient
for filing of so-called "Directive 14's" by Tenant. Notwithstanding anything to
the contrary in this Section 16.l(a)(xiii), in no event shall the Initial Base
Building Work or any item of the Post Delivery Base Building Work be deemed not
Ready for Delivery because of any failure to comply with Legal Requirements, if
such noncompliance does not materially increase the costs of completion of the
Tenant Initial Work or the time necessary to complete the Tenant Initial Work
(hereinafter, "materially interfere" or materially interfere with the use by
Tenant of the Premises for the purposes permitted by Article 2 or use by Tenant
of the common or public areas of the Building;

          (xiv)   The fire stairs shall be substantially complete for Tenant's
functional use and ready to receive Tenant's finishes, if any; and

          (xv)    (A) If and to the extent that the permanent electric service
described in Article 4 is not yet available or suitable for Tenant's performance
of the Tenant Initial Work, temporary electric service sufficient for Tenant's
performance of the Tenant Initial Work, and (B) If requested by Tenant by notice
on or before the date which is two (2) weeks after Tenant's receipt of the
Preliminary Notice, temporary heating capacity and temporary heat sufficient for
Tenant's performance of the Tenant Initial Work. Tenant shall pay for such
temporary electric service in accordance with Section 16.17. Tenant shall pay
Landlord's actual, incremental costs of constructing such temporary heating
capacity and Landlord's actual, incremental costs of providing such temporary
heat as Additional Rent, within thirty (30) days after receipt of Landlord's
invoices therefor.

     Notwithstanding anything to the contrary in this Section 16.1(a), the
following elements of the Base Building Work constitute "Post Delivery Base
Building Work" which shall be substantially completed within the time frames set
forth in Section 16.1(c):

          (i)     If requested by Tenant by notice on or before the date which
is two (2) weeks after Tenant's receipt of the Preliminary Notice, temporary
cooling and humidity control capacity. and temporary cooling and humidity
control, sufficient for Tenant's performance of the Tenant Initial Work. Tenant
shall pay Landlord's actual, incremental costs of constructing such temporary
cooling and humidity control capacity and Landlord's actual, incremental costs
of

                                      -41-

<PAGE>

providing such temporary cooling and humidity control as Additional Rent, within
thirty (30) days after receipt of Landlord's invoices therefor;

            (ii)   If requested by Tenant by notice on or before the date which
is two (2) weeks after Tenant's receipt of the Preliminary Notice, temporary
electrical service with so called "permanent characteristics" sufficient for
testing of Tenant's data center. Tenant shall pay Landlord's actual, incremental
costs of constructing such electrical capacity as Additional Rent, within thirty
(30) days after receipt of Landlord's invoices therefor. To the extent
practicable, Tenant shall pay for such electric service in accordance with
Section 16.17;

            (iii)  A fully operational vertical transportation system;

            (iv)   Availability of connection points for the Class E fire alarm
system consistent with zero occupancy TCO requirements;

            (v)    Fully operational Building systems in accordance with the
Base Building CD's;

            (vi)   Removal of hoists from, and full enclosure of, the curtain
wall surrounding the Premises (to the extent not previously enclosed because of
such hoists, and excluding the opening(s) for any hoist installed by Tenant
pursuant to Section 16.19(b) and not yet removed by Tenant);

            (vii)  The finish work for the bathrooms servicing the Premises, as
such finish work is identified on the Base Building CD's;

            (viii) Delivery of a TCO for the Premises sufficient for filing of
so-called "Directive 14's" by Tenant; and

            (ix)   All public and common areas of the Building.

            The elements of the Base Building Work other than the Post Delivery
Base Building Work are sometimes hereinafter referred to as the "Initial Base
Building Work".

     For purposes of this Article 16, "substantially complete(d)" means full
completion of the Base Building Work in accordance with the Base Building CD's
except for (i) if so requested by Tenant, any item(s) of Base Building Work
which in accordance with good construction scheduling practices should only be
completed after completion by Tenant of one or more item(s) of the Tenant
Initial Work (Landlord shall commence completion of any such item(s) of Base
Building Work within five (5) Business Days (or as soon as reasonably
practicable thereafter) after Landlord's receipt of notice from Tenant of
completion of the item(s) of Base Building Work in question, and Landlord shall
prosecute completion of such item(s) diligently and with continuity until
completion), and (ii) minor or insubstantial details of construction,
decoration, mechanical adjustment or installation, noncompletion of which will
not interfere with Tenant's performance of the Tenant Initial Work or Tenant's
occupancy of the Premises, and which shall have been identified in writing by
Tenant after Tenant shall have been afforded access to inspect the Base Building
Work on the Walk-Through Date ("Punch List Items"). Tenant shall deliver to
Landlord the list of Punch List Items for the Initial Base Building Work or the
item(s) of Post Delivery Base Building Work then being delivered no later than
fifteen (15) Business Days after the earlier of, with respect to such Base
Building Work, (A) the date on which Tenant certifies that such portion of the
Base Building Work is Ready for Delivery in accordance with the provisions of
Section 16.1(b), or (B) the date the Arbitrator, pursuant to Article 34, shall
have issued a decision that such Base Building Work is Ready for Delivery.

            (b)    Notices to be Delivered; Walk-Through Dates.

            (i)    On or about the date which is six month(s) after Commencement
of Construction, Landlord shall notify Tenant whether any variances from the
Construction Schedule have occurred (the "Preliminary Notice", which notice may
be in narrative form or in the form of an updated Construction Schedule.

            (ii)   Landlord shall notify Tenant at least sixty (60) days in
advance of the projected delivery date of the Initial Base Building Work or the
item(s) of Post Delivery Base Building Work then being delivered (the "Initial
Notice").

                                      -42-

<PAGE>

          (iii) At least thirty (30) days prior to the delivery date specified
in the Initial Notice, Landlord shall deliver to Tenant a second notice (the
"Confirmation Notice") confirming the date set forth in the Initial Notice, or
if such delivery date is no longer expected to be met by Landlord, the
Confirmation Notice shall set forth the revised anticipated delivery date (which
may be later but not earlier than the anticipated delivery date set forth in the
Initial Notice).

          (iv)    At least ten (10) days prior to the date Landlord believes the
Initial Base Building Work or any item(s) of Post Delivery Base Building Work
then being delivered will be substantially complete, Landlord shall deliver a
notice (a "Ready for Delivery Notice") setting forth the anticipated substantial
completion date. Unless Tenant shall have consented to an earlier date, the
anticipated substantial completion date shall not be earlier than the date which
is twelve (12) months after Landlord has Commenced Construction of the
Building. Within five (5) Business Days after Tenant's receipt of any Ready for
Delivery Notice, Tenant shall establish a date reasonably acceptable to Landlord
(a "Walk Through Date") on which Landlord and Tenant shall jointly inspect the
Initial Base Building Work or the item(s) of Post Delivery Base Building Work
then being delivered, which Walk Through Date shall be no earlier than the
anticipated substantial completion date set forth in the Ready for Delivery
Notice and no later than two (2) Business Days after such anticipated
substantial completion date. If the Initial Base Building Work is Ready for
Delivery on the Walk Through Date, the Commencement Date shall be the date
specified in the Ready for Delivery Notice. If any item of Post Delivery Base
Building Work then being delivered is Ready for Delivery on the Walk Through
Date, such item shall be deemed accepted for delivery on the date specified in
the Ready for Delivery Notice. If the Initial Base Building Work or any item of
Post Delivery Base Building Work then being delivered is not Ready for Delivery
on the Walk Through Date, then the Commencement Date shall not occur, or such
item of Post Delivery Base Building Work shall not be deemed accepted by Tenant,
as the case may be, and Landlord, at least five (5) days prior to the date
Landlord believes that the Initial Base Building Work or such item of the Post
Delivery Base Building Work will be substantially complete, shall send to Tenant
a second Ready for Delivery Notice setting forth the then anticipated
substantial completion date. Within three (3) days after Tenant's receipt of a
second Ready for Delivery Notice, Tenant shall establish a second Walk Through
Date, reasonably acceptable to Landlord, on which Landlord and Tenant shall
jointly re-inspect the Initial Base Building Work (or any item of Post Delivery
Base Building Work) then being delivered, which Second Walk Through Date shall
be no earlier than the anticipated substantial completion date set forth in the
second Ready for Delivery Notice and no later than one (1) Business Day after
such anticipated substantial completion date. In the event the Initial Base
Building Work (or the item of Post Delivery Base Building Work then being
delivered) is still not Ready for Delivery on the second Walk Through Date, then
the procedure set forth in the preceding two sentences shall be repeated as many
times as necessary until the Initial Base Building Work (or such item of Post
Delivery Base Building Work) is Ready for Delivery. After the delivery to Tenant
of any Ready for Delivery Notice, and upon notice from Landlord, Tenant shall
use reasonable efforts to meet with Landlord at the Building (accompanied by
Tenant's Construction Representative (as hereinafter defined) and such of
Tenant's architectural, engineering and/or construction consultants ("Tenant's
Inspection Consultants") as Landlord shall have reasonably requested), prior to
the anticipated substantial completion date specified in such Ready for Delivery
Notice, in order to assist Landlord in identifying any incomplete items of
Initial Base Building Work or incomplete items of Post Delivery Base Building
Work, as the case may be. If the Initial Base Building Work (or the item of Post
Delivery Base Building Work then being delivered) is not Ready for Delivery on
the initial Walk Through Date, then Landlord shall reimburse Tenant, promptly
upon receipt of Tenant's invoices therefor, for the reasonable, actual third
party costs of participation of Tenant's Inspection Consultants in any
subsequent joint inspection of the Initial Base Building Work (or the item
of Post Delivery Base Building Work then being delivered).

          In the event that following any joint inspection by Landlord and
Tenant of the Initial Base Building Work (or any item(s) of Post Delivery Base
Building Work then being delivered by Landlord), Tenant believes the Initial
Base Building Work (or any item of Post Delivery Base Building Work) is not
Ready for Delivery, then within two (2) Business Days after the completion of
such inspection Tenant shall furnish Landlord with a written list of incomplete
work (the "Incomplete Work") which Tenant believes must be completed in order
for the Initial Base Building Work (or such item of Post Delivery Base Building
Work) to be Ready for Delivery.

                                      -43-

<PAGE>

     Notwithstanding anything to the contrary in this Section 16.1, in no event
shall the Initial Base Building Work or any item of the Post Delivery Base
Building Work be deemed not Ready for Delivery because of Landlord's failure to
complete items of Base Building Work the noncompletion of which does not impede,
delay or otherwise interfere with the completion of Tenant Initial Work being
performed by Tenant at the time or interfere with the use by Tenant of the
Premises for the purposes permitted by Article 2 or use by Tenant of the common
or public areas of the Building.

     In the event Landlord and Tenant are unable to agree whether the Initial
Base Building Work (or any item of Post Delivery Base Building Work then being
delivered by Landlord) is Ready for Delivery, either party may refer such
dispute to expedited construction arbitration in accordance with the procedures
set forth in Article 34.

           (c)   Commencement of Construction; Construction Schedule; Projected
Substantial Completion Dates; Penalty for Late Completion; Termination Rights.

           (i)   Definitions.

           (A)   For the purposes of this Article 16, "Commencement of
Construction of the Building" or "Commence(d) Construction of the Building"
means the date when this Lease shall have been executed by Landlord and Tenant
and deposited in escrow pursuant to the terms and conditions of that certain
escrow agreement between Landlord and Tenant dated as of November 6, 2001 (the
"Escrow Agreement").

           (B)   For the purposes of this Article 16, "Construction Schedule"
means the construction schedule which has been agreed to by the parties and
annexed hereto as Exhibit B. Except as expressly set forth in this Article 16,
the Construction Schedule is annexed hereto solely for informational purposes,
is not binding on Landlord or Tenant, and shall not be deemed to modify any
rights or obligations of Landlord or Tenant set forth in this Lease.
Notwithstanding anything to the contrary in the preceding sentence, and subject
to Tenant Delays and force majeure, Landlord agrees that unless otherwise
consented to by Tenant, such consent not to be unreasonably withheld, Landlord's
performance of the Base Building Work shall not be inconsistent with the general
framework shown on the Construction Schedule.

           (C)   "Projected Completion Date(s)" shall mean (1) in the case of
the Initial Base Building Work, the later of (a) the date when the Delivery
Conditions for the Initial Base Building Work should have occurred as shown on
the Construction Schedule, or (b) twelve (12) months after Landlord has
Commenced Construction of the Building, and (2) in the case of the Post Delivery
Base Building Work, the later of (a) the date(s) when completion of each item of
Post Delivery Base Building Work should have occurred as shown on the
Construction Schedule, or (b) fourteen (14) months after Landlord has Commenced
Construction of the Building in the case of item (i) of the Post Delivery Base
Building Work, sixteen (16) months after Landlord has Commenced Construction of
the Building in the case of item (ii) of the Post Delivery Base Building Work,
seventeen (17) months after Landlord has Commenced Construction of the Building
in the case of items (iii) through (vii) of the Post Delivery Base Building
Work, and eighteen (18) months after Landlord has Commenced Construction of the
Building in the case of items (viii) and (ix) of the Post Delivery Base Building
Work and in the case of any other previously uncompleted item(s) of Base
Building Work noncompletion of which would interfere with Tenant's completion of
the Tenant Initial Work or Tenant's use of the Premises for the purposes
permitted by Article 2 or Tenant's use of the common or public areas of the
Building. Except as expressly provided in this Article 16, Landlord shall not be
subject to any liability if the Delivery Conditions for all of the Initial Base
Building Work shall not have occurred by the Projected Completion Date for the
Initial Base Building Work, nor shall Landlord be subject to any liability if
completion of any item of the Post Delivery Base Building Work shall not have
occurred by the Projected Completion Date for such item of Post Delivery Base
Building Work, and the validity of this lease shall not be impaired thereby.

           (D)   "Commencement of Construction and Financing Date" shall mean
the date which is three (3) months after the date when the condition to be
satisfied pursuant to Paragraph 4(b)(i) of the Escrow Agreement shall have been
satisfied, or shall have been waived by Tenant.

           (E)   "Outside Ready for Delivery Date" shall mean the date which is
twenty-four (24) months after Commencement of Construction of the Building.

                                      -44-

<PAGE>

           (F)   "Institutional Lender" means a savings bank, a savings and loan
association, a commercial bank or trust company, an insurance company, a real
estate investment trust, a religious, educational or eleemosynary institution, a
governmental agency, body or entity, an employee, benefit, pension or retirement
plan or fund, a commercial credit corporation, an investment bank, a commercial
bank or trust company acting as trustee or fiduciary of various pension funds or
tax-exempt funds or as trustee in connection with the issuance of any bonds or
any other debt financing, or a corporation or other entity owned wholly by any
other Institutional Lender or a subtrustee of any such commercial bank or trust
company acting as such trustee, or any combination of the forgoing, provided,
however, that such entity, or any combination of such entities, shall qualify as
an Institutional Lender for purposes hereof only if each such entity or
combination of such entities or the parent or parents of such entity or entities
has individual or combined assets, as the case may be, of not less than One
Billion Dollars ($1,000,000,000).

           (ii)  Liquidated Damages for Late Substantial Completion of Initial
Base Building Work and Post Delivery Base Building Work. Notwithstanding
anything to the contrary in Section 16.1(c)(i), if (A)(1) the Delivery
Conditions for the Initial Base Building Work shall not have occurred by the
Projected Completion Date for the Initial Base Building Work, or (2) any item of
Post Delivery Base Building Work shall not have been completed by the Projected
Completion Date for such item of Post Delivery Base Building Work, and (B)
Tenant is actually delayed thereby in commencing the Tenant Initial Work in
accordance with good construction practices or in prosecuting the Tenant Initial
Work in accordance with good construction practices, as the case may be, or in
moving into the Premises, or in using the Premises for the purposes permitted by
Article 2, or in using the common or public areas of the Building, then as
liquidated damages for such delay, and not as a penalty, (a) the Rent
Commencement Date shall be deferred one (1) day for each day of such delay, and
(b) commencing with the first Fixed Rent due and payable after the Rent
Commencement Date, Fixed Rent shall be abated in an amount equal to the product
of (x) one half (1/2) day of Fixed Rent and (y) the number of days of such
delay. Tenant shall promptly notify Landlord of any such delay in commencing or
prosecuting the Tenant Initial Work, and shall use good faith reasonable
efforts, consistent with good construction practices (but at no additional cost
to Tenant), to mitigate any such delay in commencing or prosecuting the Tenant
Initial Work. It is specifically understood and agreed that the liquidated
damages referred to in this Section 16.1(c)(ii) are not intended to be
cumulative, and that if any of the delays referred to within any subclause of
subsection (B) of this Section 16.1(c)(ii) occur simultaneously, then to the
extent of such simultaneous occurrence such delays shall be deemed to run
concurrently and not consecutively. Any dispute about the operation of this
Section 16.1(c)(ii) shall be submitted to expedited construction arbitration in
accordance with Article 34.

           (iii) Self Help Right. Notwithstanding anything to the contrary in
Section 16.1(c)(i), if (A) any item of Post Delivery Base Building Work shall
not have been completed by the date which is four (4) months after the Projected
Completion Date for such item of Post Delivery Base Building Work, and (B)
Tenant is actually delayed thereby in commencing the Tenant Initial Work in
accordance with good construction practices or in prosecuting the Tenant Initial
Work in accordance with good construction practices, as the case may be, or in
moving into the Premises, or in using the Premises for the purposes permitted by
Article 2, or in using the common or public areas of the Building, then Tenant
may notify Landlord of its intent to complete such item of Post Delivery Base
Building Work. If Landlord shall have failed to complete such item of Post
Delivery Base Building Work within ten (10) Business Days after the receipt of
Tenant's notice of intent, then Tenant may complete such item of Post Delivery
Base Building Work in accordance with the then existing Base Building CD's
applicable thereto (as the same may have been modified, e.g. by Change Orders,
shop drawings and field conditions) and good construction practices. If Tenant
undertakes to complete any item of Post Delivery Base Building Work pursuant to
this Section 16.l(c)(iii), Tenant shall prosecute the same diligently and with
continuity to completion, and Tenant shall use reasonable efforts not to
interfere with any work then being performed in the Building by Landlord or any
other Tenant. Tenant shall exercise its rights under this Section 16.l(c)(iii)
at Tenant's expense, provided, that Landlord shall reimburse Tenant, not more
frequently than monthly, within ten (10) Business Days after receipt of Tenant's
invoice(s) therefor, for the actual, reasonable costs of completing such item of
Post Delivery Base Building Work. Tenant's invoice(s) shall be accompanied by
the supporting documents described in Section 16.20(d). Notwithstanding anything
to the contrary in the preceding sentence, Landlord's reimbursement obligation
under this Section 16.3(c)(iii) shall be limited to the aggregate amounts not
previously incurred under Landlord's construction

                                      -45-

<PAGE>

contracts and attributable to the item of Post Delivery Base Building Work in
question. Any dispute about the operation of this Section 16.1(c)(iii) shall be
submitted to expedited construction arbitration in accordance with Article 34.

              (iv)   Termination Rights.

              (A)    If by the Commencement of Construction and Financing Date
Landlord (1) fails to close on a construction loan with an Institutional Lender
for an amount sufficient to complete the Base Building Work and pay the Tenant
Initial Work Allowance and/or furnish evidence reasonably satisfactory to Tenant
of Landlord's ability and commitment to fund such amount itself, or (2) shall
not have commenced construction of the Building within a reasonable period of
time after Commencement of Construction of the Building and be diligently
prosecuting construction of the Building, then Tenant, as Tenant's sole and
exclusive remedy, may terminate this Lease by giving notice of such election
within five (5) Business Days after the Commencement of Construction and
Financing Date (the "Termination Deadline"), provided, however, that any such
notice given by Tenant shall be nullified if prior to the Termination Deadline,
(1) Landlord shall have closed on such a construction loan and/or furnished the
required evidence of ability and commitment to fund such amount itself, and (2)
Landlord shall have commenced construction of the Building within a reasonable
period of time after Commencement of Construction of the Building and shall be
diligently prosecuting construction of the Building. Tenant's failure to
exercise any right it may have to terminate this Lease pursuant to this Section
16.01(c)(iv)(A) on or before the Termination Deadline, shall be deemed an
irrevocable waiver by Tenant of its right to exercise such termination right.
Landlord shall use good faith diligent efforts to obtain such a construction
loan on commercially reasonable terms, taking into account, however,
conventional limitations on the willingness of developers to contribute equity.
The conditions for funding under such construction loan shall be commercially
reasonable as determined by Tenant in its reasonable discretion, provided, that
such conditions for funding shall be deemed commercially reasonable if such
conditions are substantially similar to conditions for funding in loans of Fifty
Million Dollars ($50,000,000) or more for new construction in the City of New
York closed by entities related to Landlord on or after January 1, 1990.

              (B)    If by the Outside Ready for Delivery Date the Delivery
Conditions shall not have occurred for the Initial Base Building Work, Tenant
may terminate this Lease by giving notice of such election within two (2) months
following the Outside Ready for Delivery Date, provided, however, that any such
notice shall be nullified if prior to the effective date of such notice, the
Delivery Conditions shall have occurred for the Initial Base Building Work. If
Tenant terminates this Lease pursuant to this Section 16.1(c)(iii)(B), then by
the date which is five (5) Business Days after Landlord's receipt of Tenant's
termination notice, Landlord shall pay Tenant a termination penalty of Five
Million Dollars ($5,000,000). Landlord has furnished a surety bond (or alternate
security permitted hereunder) to Tenant to secure payment of said termination
penalty, and shall maintain such surety bond (or alternate security permitted
hereunder, as applicable) in full force and effect until the earlier of (i) the
date when the Delivery Conditions for the Initial Base Building Work shall have
been satisfied, or (ii) the date when Tenant shall have received payment of such
termination penalty in accordance with the terms of this Section 8.1(c)(iv)(B).
Any replacement surety bond furnished to Tenant shall be in customary form and
from a bonding company reasonably satisfactory to Tenant and shall provide that
Tenant shall have the right to draw down on it in the event Landlord fails to
provide replacement security as provided in this paragraph. No surety bond (or
any replacement letter of credit as provided below) shall be cancelable by the
issuer unless the issuer shall be required to give at least thirty (30) days'
prior notice before any such cancellation shall be effective. Within fifteen
(15) days following receipt of any such cancellation notice, Landlord shall
provide, in form reasonably acceptable to Tenant, a replacement surety bond,
letter of credit or alternate comparable security (e.g., cash to be held in
escrow by the party who served as escrow agent under the Escrow Agreement). If
Landlord fails to timely provide such replacement surety bond, letter of credit
or comparable security as aforesaid, Tenant shall have the right to draw down
the surety bond (or replacement letter of credit, if applicable) and deposit the
cash so drawn in escrow with the party who served as escrow agent under the
Escrow Agreement to serve as replacement security. Notwithstanding the foregoing
to the contrary, Landlord shall have the right to deliver a guaranty by
Guarantor of the obligation to pay the aforesaid termination penalty in lieu of
a surety bond, provided the form and substance of such guaranty is reasonably
acceptable to Tenant. If Tenant elects to terminate this Lease pursuant to this
Section

                                      -46-

<PAGE>

16.0(a)(iv)(B), such termination and payment of the Five Million Dollar
($5,000,000) termination penalty shall be Tenant's sole and exclusive remedies.

          (v)  The Projected Completion Dates, the Commencement of Construction
and Financing Date and the Outside Ready for Delivery Date, as applicable, shall
be extended:

          (A)  One day for each day of Tenant Delay as defined in Section 16.7;
and

          (B)  One day for each day that Landlord is actually delayed in
completing the Initial Base Building Work or any item(s) of the Post Delivery
Base Building Work as a result of force majeure as defined in Section 36.1. It
is specifically understood and agreed that if more than one force majeure event
would actually delay Landlord in commencing or completing the Initial Base
Building Work or any item(s) of the Post Delivery Base Building Work, but such
events and the delays caused by them occur simultaneously, then to the extent of
such simultaneous occurrence such delays shall be deemed to run concurrently and
not consecutively.

          (vi) Tenant hereby waives any right to rescind this lease under the
provisions of Section 223-a of the Real Property Law of the State of New York,
and agrees that the provisions of this Section 16.1(d) are intended to
constitute "an express provision to the contrary" within the meaning of said
Section 223-a.

          (d)  Commencement Date Certificate. At any time after the Commencement
Date, Tenant and Landlord shall, promptly upon written request by either of
them, execute and acknowledge an instrument in a form reasonably satisfactory to
Landlord and Tenant confirming the Commencement Date, the Expiration Date, and
any other matter reasonably requested by Landlord or Tenant provided, that the
execution and acknowledgment of such an instrument shall not be a prerequisite
to the commencement or expiration of the Term.

          (e)  Completion of Punch List Items. Landlord, at its sole cost and
expense, shall complete as soon as practicable (but in any event within thirty
(30) days) after Landlord's receipt of Tenant's punch list(s) all Punch List
Items (pertaining to the Initial Base Building Work or to any item of the Post
Delivery Base Building Work), except for (i) if requested by Tenant, any Punch
List Item(s) which in accordance with good construction scheduling practices
should only be completed after completion by Tenant of one or more item(s) of
the Tenant Initial Work (Landlord shall commence completion of any such Punch
List Items within five (5) Business Days (or as soon as reasonably practicable
thereafter) after Landlord's receipt of notice from Tenant of completion of the
item(s) of Base Building Work in question, and Landlord shall prosecute
completion of such Punch List Item(s) diligently and with continuity until
completion), and except that (ii) with respect to any Punch List Items which
cannot be completed within such thirty (30) day period(s), Landlord shall,
within such thirty (30) day period(s), diligently commence and prosecute the
same with continuity to completion.

          (f)  Acceptance of Premises. Except as otherwise expressly provided in
this Lease (including without limitation the provisions of Sections 16.9 and
19.2(c)), upon (i) the date when the Initial Base Building Work or any item(s)
of the Post Delivery Base Building Work shall be Ready for Delivery, and (ii)
Landlord's completion of the Punch List Items relating thereto, Tenant shall be
deemed to have agreed for all purposes hereof that the Base Building Work in
question has been completed and that Landlord has performed all of its
obligations under this Article 16 with respect to such Base Building Work.

    16.2. Base Building Work. The core and shell of the Building to be
constructed by Landlord as described in the "Base Building Work Letter" annexed
hereto as Exhibit J and any other work to be performed by Landlord as described
in Exhibit J, together with all "Base Building Enhancements" which may be
constructed by Landlord as described on Exhibit N (and as such Base Building
Enhancements may be depicted on the Base Building CD's), are hereinafter
referred to as the "Base Building Work". If and to the extent the same are
requested by Tenant, the Base Building Enhancements shall be performed by
Landlord at Tenant's expense. All Base Building Work, upon the installation
thereof in the Building or Premises, shall be and remain the property of
Landlord, subject to the provisions of the Ground Lease.

    16.3. Base Building CD's,

          (a)  Preparation of Base Building CD's.

                                      -47-

<PAGE>

          (i)   Schematic Floor Plans.

     Annexed hereto as Exhibit A is a schedule of schematic floor plans which
have been furnished to Tenant. The schematic floor plans referenced in Exhibit A
shall not be binding on Landlord with respect to the dimensions or locations of
any fixed architectural elements shown on such plans, provided, that the general
configuration of the floor plates within the Premises and the general location
and size of the building core within the Premises shall not materially change
without the consent of Tenant, not to be unreasonably withheld.

          (ii)  Tenant Election. On or before November 19, 2001, Tenant shall
furnish Landlord with Tenant's alternative male/female bathroom configuration.

          (iii) Base Building CD's.

          (A)   As soon as reasonably practicable after Commencement of
Construction of the Building, Landlord shall cause Swanke Hayden Connell
Architects and/or Cesar Pelli & Associates or such other architect(s) as may be
selected by Landlord in its sole discretion (collectively and/or individually,
the "Base Building Architect") to prepare construction drawings and
specifications for the Base Building Work (the "Base Building CD's"), based on
and substantially in accordance with the Base Building Work Letter and taking
into account Tenant's election pursuant to Section 16.3(a)(ii). The initial Base
Building CD's shall be delivered to Tenant's Architect on or before the date
which is thirty (30) days after Commencement of Construction of the Building.
The Base Building CD's (and any revisions thereto) shall be submitted to Tenant
for Tenant's review and approval of any aspects of the Base Building CD's
affecting the Premises or the public and common areas of the Building serving
the Premises, which approval shall not be unreasonably withheld.

          (B)   Tenant, with specificity and in writing (which may include
mark-ups of the Base Building CD's or any revisions thereto), shall notify
Landlord of any objections to the Base Building CD's within twenty (20) days
after Tenant's receipt thereof (ten (10) days in the case of any revisions
thereto). If Tenant fails to notify Landlord of any objections within twenty
(20) days (in the case of the initial Base Building CD's) or within ten (1O)
days (in the case of any revisions thereto), the initial Base Building CD's (or
any revisions thereto, as the case may be) shall be deemed approved.

          (C)   Any changes to the Base Building CD's required by any
governmental department (e.g., Buildings Department) shall be disclosed by
Landlord to Tenant and shall promptly be incorporated into the Base Building
CD's by the Premises Architect. Notwithstanding the forgoing, Landlord shall
submit any such Buildings Department changes which materially affect the Tenant
Initial Work, the Building systems or the common or public areas of the Building
to Tenant for Tenant's review and approval, which approval shall not be
unreasonably withheld.

          Tenant, with specificity and in writing (which may include mark-ups of
such Buildings Department changes or any revisions thereto), shall notify
Landlord of any objections to the Buildings Department changes within five (5)
Business Days after Tenant's receipt thereof (three (3) Business Days in the
case of any revisions thereto). If Tenant fails to notify Landlord of any
objections within five (5) Business Days (or within three (3) Business Days in
the case of any revisions thereto), such Buildings Department changes (or any
revisions thereto) shall be deemed approved.

          (b)   Partial Base Building CD's. In order to expedite completion of
the Base Building Work, if in the reasonable judgment of the Base Building
Architect the same are complete and integrated enough for Tenant to review and
comment, Landlord may request Tenant to approve pre-purchase specifications and
long lead items prior to final approval of the Base Building CD's. If Landlord
makes such a request, it shall submit to Tenant specific working drawings for
the aspect of the Base Building Work in question together with a detailed
description of the equipment or materials to be purchased (model numbers, names
of manufacturers, etc.) and a detailed breakdown of the cost of the work
submitted for approval by Tenant. Tenant shall approve or disapprove Landlord's
request within a reasonable period of time, not to exceed five (5) Business Days
after Tenant's receipt thereof, such approval not to be unreasonably withheld.
If Tenant disapproves any such request, Tenant shall thereafter approve or
disapprove any revised request therefor within three (3) Business Days after
Tenant's receipt

                                      -48-

<PAGE>

of such revised request, such approval not to be unreasonably withheld. If
Tenant fails to approve or disapprove such request within such five (5) or three
(3) Business Day period, as the case may be, such request shall be deemed
approved.

          (c)   Landlord Initiated Changes to Base Building CD's. If Landlord
makes any changes to the Base Building CD's as finally approved by Tenant or as
deemed approved by Tenant, and if such changes materially affect the Final
Working Drawings for the Tenant Initial Work, then Landlord, within thirty (30)
days after receipt of Tenant's invoices therefor, shall reimburse Tenant for the
reasonable, actual costs of additional services required from Tenant's Architect
and/or Tenant's Engineer in order to conform the Final Working Drawings for the
Tenant Initial Work to such Landlord changes. Any dispute about the operation of
this Section 16.3(c) shall be referred to expedited construction arbitration
pursuant to Article 34.

          (d)   Post-Completion Drawings. Landlord shall submit to Tenant,
within one hundred twenty (120) days after delivery of a TCO to Tenant pursuant
to Section 16.1, (i) one (1) set of reproducible record drawings for the Base
Building Work showing all significant changes during construction, including
field changes and Change Orders, based on "marked up" prints, drawings and other
data furnished by the construction manager or the general contractor and/or the
trade contractors and referenced by the engineer on the record drawings, and
(ii) one (1) set of contractor "as built" drawings. During the weekly
coordination meetings referred to in Section 16.12, Landlord shall use
reasonable efforts to advise Tenant of all material changes to the Base Building
Work of the type referred to in the first sentence of this Section 16.3(d).

    16.4. Tenant Initial Work Cost; Performance of the Base Building Work.

          (a)   Components of Tenant Initial Work Cost. The "Tenant Initial Work
Cost" shall consist of all costs and expenses incurred by Landlord in connection
with the Base Building Enhancements (including any Punch List Items related to
the Base Building Enhancements, other than Punch List Items required to correct
work incorrectly performed by Landlord) and any Change Orders, consisting of the
following:

          (i)   All architectural, engineering and design consulting fees and
costs attributable to the Base Building Enhancements and any Change Orders. The
additional architectural and engineering fees with respect to any Change Order
shall be set forth in the change order proposal furnished to Tenant;

          (ii)  the expediters' and code consultants' fees and filing fees for
any submission or resubmission of plans and specifications to the appropriate
governmental authorities required in order to perform the Base Building
Enhancements or any Change Order;

          (iii) all costs of performance of all items of the Base Building
Enhancements, including all work necessary to implement and perform the work
required to be done according to the final approved Base Building CD's (and any
approved partial Base Building CD's), including without limitation premium labor
approved by Tenant (which approval shall not be unreasonably withheld), industry
standard general conditions (not to exceed seven percent (7%)), fees, costs of
bonds (not to exceed two percent (2%)) and contingency, and the costs of
Landlord's construction management services; and

          (iv)  with respect to any Landlord proposal pursuant to Section 16.5
which is not accepted by Tenant, all costs of Landlord's pre-construction
services, including without limitation all costs of estimating and reproduction
of drawings and specifications.

    Notwithstanding anything to the contrary in items (i) through (iv) above,
the Tenant Initial Work Cost shall exclude the costs of Base Building Work
(other than the Base Building Enhancements and Change Orders), which costs of
Base Building Work (other than Base Building Enhancements and Change Orders)
shall be paid by Landlord.

          (b)   Tenant shall be responsible for the costs of all Base Building
Enhancements, which costs shall be paid in accordance with the provisions of
Section 16.5. Tenant shall be responsible for the costs of all Change Orders
(including Change Orders to the Base Building Work and the Base Building
Enhancements). Change Orders and Tenant's payment therefor shall be subject to
the provisions of Section 16.5.

                                      -49-

<PAGE>

                 (c)    As soon as practicable after (i) Commencement of
Construction of the Building, and (ii) execution and delivery by the parties
thereto of that certain license agreement between Landlord and the City of New
York permitting the required access to the 9 Metrotech South site, Landlord
shall commence the Base Building Work and prosecute the same diligently to
completion (subject to Tenant Delays and force majeure).

         16.5.   Change Orders; Base Building Enhancements and Shop Drawings.

                 (a)    Change Orders.

                 (i)    Except as specifically provided in Section 16.3(a)(ii),
if Tenant shall request any change, addition or alteration ("Change Order") in
or to the Base Building Work from (A) the work shown on the Base Building CD's
as finally approved, (B) the work shown on the Base Building Work Letter, (C)
any Base Building Enhancement which Tenant has previously accepted a proposal
for pursuant to Section 16.5(b), or (D) any drawings, plans and/or
specifications (to the extent that any such change (as opposed to mere
correction) is inconsistent with Base Building CD's previously approved by
Tenant and would increase the cost of architectural, engineering or related
services), Tenant shall submit a written request therefor. For the purposes of
this Section 16.5(a), any Tenant request that premium labor be used in order to
accelerate the Base Building Work shall also be deemed a Change Order. Within
five (5) Business Days after Landlord's receipt of Tenant's request for a Change
Order (fifteen (15) Business days if plans and specifications must be prepared
to obtain cost estimates), Landlord shall submit to Tenant a proposal, based
upon reasonably detailed cost estimates supported by appropriate backup, stating
whether Landlord approves the work contemplated by such Change Order (which
approval may be withheld in Landlord's sole discretion), and specifying any
increase or decrease in Tenant Initial Work Cost and the maximum number of days
of Tenant Delay arising from such Change Order. The total costs of any Change
Order shall include all applicable costs referred to in Section 16.4(a)(iii),
and in the case of any Change Order to a Base Building Enhancement, shall be net
of any savings actually generated by such Change Order in respect of costs of
any Base Building Enhancements.

                 (ii)   Upon receipt of Landlord's proposal, Tenant shall have a
reasonable period of time (given the cost of the Change Order as set forth in
Landlord's proposal), but not to exceed ten (10) Business Days, to accept such
proposal or withdraw its request for a Change Order. Tenant's failure to accept
such proposal within a reasonable period of time (not to exceed ten (10)
Business Days) shall constitute Tenant's election to withdraw its request for
such Change Order. Upon Tenant's specific request therefor and on reasonable
prior notice, Landlord shall meet with Tenant to discuss alternatives to any
requested Change Order or to discuss methods which could reduce the cost of, or
any Tenant Delay that may be caused by, any requested Change Order.

                 (iii)  If Tenant accepts Landlord's proposal, the costs thereof
shall be paid by Tenant from time to time (but not more frequently than monthly)
as Additional Rent, within thirty (30) days after receipt of Landlord's invoices
therefor. Landlord's invoices shall be accompanied by copies of the pertinent
requisition(s) received by Landlord from Landlord's general contractor, which
requisitions shall have been approved in writing by the Base Building Architect
as ready for payment. In the event that Tenant fails to pay the costs of any
Change Orders within five (5) days after receipt of Landlord's notice that such
payments are overdue, Landlord may deduct such unpaid amounts, dollar for
dollar, from the next installment(s) of the Tenant Initial Work Allowance which
would otherwise be due and payable pursuant to Section 16.20. Such deductions
may include interest on the unpaid amounts in accordance with Section 1.6, from
the date when such unpaid amounts were due to the date when Landlord shall have
deducted the same from the Tenant Initial Work Allowance.

                 (iv)   If Tenant accepts Landlord's proposal, (A) the date on
which Tenant certifies that the Commencement Date has occurred shall be deemed
to have occurred on such earlier date as represents the number of Change Order
Tenant Delay days accepted by Tenant in connection with such Change Order, and
(B) Landlord shall perform the Change Order diligently and with continuity.

                 (v)   If Tenant does not accept Landlord's proposal, Tenant
shall pay the costs of Landlord's construction management services (as more
particularly set forth in Section 16.4(a)(iv)) in connection therewith as
Additional Rent, within thirty (30) days after receipt of

                                      -50-

<PAGE>

Landlord's invoices therefor. In the event that Tenant fails to pay such costs
within five (5) days after receipt of Landlord's notice that such payments are
overdue, Landlord may deduct such unpaid amounts, dollar for dollar, from the
next installment(s) of the Tenant Initial Work Allowance which would otherwise
be due and payable pursuant to Section 16.20. Such deductions may include
interest on the unpaid amounts in accordance with Section 1.6, from the date
when such unpaid amounts were due to the date when Landlord shall have deducted
the same from the Tenant Initial Work Allowance.

             (vi)   Landlord acknowledges that not every Change Order requested
by Tenant will result in a Tenant Delay (e.g., if delays caused by two or more
Change Orders would occur concurrently and not consecutively, or if a Change
Order is requested early enough to be implemented without delay).

             (b)    Base Building Enhancements. Except as specifically set forth
in this Section 16.5(b), the Base Building Enhancements set forth on Exhibit N
shall be deemed Change Orders for all purposes of Section 16.5(a).
Notwithstanding anything to the contrary in Section 16.4(a) or Section 16.5(a):

             (i)    Tenant's written request that Landlord perform one or more
of the Base Building Enhancements shall be submitted to Landlord within thirty
(30) days after Commencement of Construction of the Building.

             (ii)   Tenant's written request that Landlord perform one or more
Base Building Enhancements shall be subject to the reasonable approval of
Landlord, which approval shall not be withheld if the scope of any Base Building
Enhancement so requested is consistent with Exhibit N and if Tenant's request is
otherwise in accordance with good construction practices.

             (iii)  Landlord's proposal shall specify (A) the increase in Tenant
Initial Work Cost attributable to any Base Building Enhancement, and (B) the
schedule for performing such Base Building Enhancement, and shall be submitted
to Tenant within thirty (30) days after Landlord's receipt of Tenant's written
request for such Base Building Enhancement. Provided that the scope of a Base
Building Enhancement is consistent with Exhibit N, Tenant Delay shall not be
incurred with respect to such Base Building Enhancement.

             (iv)   Tenant shall have a reasonable period of time (given the
cost of the Base Building Enhancement as set forth in Landlord's proposal), but
not to exceed ten (10) Business Days, to accept such proposal or withdraw its
request for such Base Building Enhancement. Tenants failure to accept such
proposal within a reasonable period of time (not to exceed ten (10) Business
Days) shall constitute Tenant's election to withdraw its request for such Base
Building Enhancement.

             (v)    Tenant shall pay the architectural, engineering and design
and consulting fees and costs attributable to the Base Building Enhancements in
accordance with Section 16.4(a)(i) as Additional Rent, but only if and to the
extent the reasonable fees of Landlord's Engineer would be reimbursed by Tenant
pursuant to Section 15.2(a)(ii).

             (vi)   If Tenant does not accept Landlord's proposal, Tenant shall
pay the costs of Landlord's construction management services (as more
particularly set forth in Section 16.4(a)(iv)) in connection therewith as
Additional Rent, within thirty (30) days after receipt of Landlord's invoices
therefor, but only if and to the extent that the reasonable fees of Landlord's
Engineer would be reimbursed by Tenant pursuant to Section 15.2(a)(ii).

             (c)    Shop Drawings. In the event that any shop drawings for the
Base Building Work (or other drawings or documentation which further define the
scope of work depicted in the Base Building CD's) materially modify and/or
substitute work for any work shown on the Base Building CD's, Tenant shall have
the right to approve such shop drawings, such approval not to be unreasonably
withheld. Landlord shall furnish copies of such shop drawings (or other drawings
or documentation) to Tenant at least ten (10) Business Days before the work
shown on such shop drawings or other drawings is ordered or fabricated, as the
case may be. Tenant shall approve or disapprove such shop drawings within a
reasonable period of time, not to exceed five (5) Business Days after Tenant's
receipt thereof. If Tenant disapproves any such shop drawing, Tenant shall
thereafter approve or disapprove any revisions thereto within three (3) Business
Days after Tenant's receipt of such revisions. If Tenant fails to approve or
disapprove such shop

                                      -51-

<PAGE>

drawings within such five (5) or three (3) Business Day period, as the case may
be, such shop drawings shall be deemed approved.

             16.6.  Methods and Materials. Landlord may arrange for the
performance of the Base Building Work in such manner as Landlord shall determine
in its sole discretion, consistent, however, with the Base Building CD's as
finally approved, Legal Requirements and the provisions of this Section 16.6.

             There shall be no substitutions for any item of Base Building
Enhancements without the consent of Tenant, which consent shall not be
unreasonably withheld, provided, that it shall not be reasonable for Tenant to
withhold consent for any substitution (i) which does not increase the Tenant
Initial Work Cost, (ii) where the item being substituted for will not be
available in time to complete the Base Building Work on schedule (and was
ordered timely), (iii) which is of substantially equal or better quality and
performance characteristics (including projected costs of operation and
maintenance) than the item being substituted for and (iv) which complies with
Legal Requirements. Notwithstanding anything to the contrary in the preceding
sentence, Tenant's approval for such a substitution which affects the appearance
of the Premises may be withheld in Tenant's sole discretion. For purposes
hereof, the term substitution means a change in product, materials, equipment or
method of construction as shown or described in the Base Building CD's as
finally approved. If Tenant`s approval for any substitution of equipment,
materials or personnel is required, Landlord shall submit its request therefor
to Tenant in writing. Tenant shall approve or disapprove Landlord's request in
writing within a reasonable period of time (given the nature and scope of the
proposed substitution), not to exceed five (5) Business Days, after
Tenant's receipt of Landlord's reasonably detailed request therefor. If
Landlord's request contains a statement that Tenant's failure to respond to such
request within the time limitations  set forth in the preceding sentence shall
constitute Tenant's approval of Landlord's request, then Tenant's failure to
respond within the time limitations set forth in the preceding sentence shall be
deemed to be the granting of Tenant's approval. If a substitution for any item
of Base Building Enhancements reduces the cost of such item, the increase in
Tenant Initial Work Cost previously accepted by Tenant in connection with such
item shall be appropriately adjusted to reflect such reduction in cost.

             16.7.  Tenant Delays.

                    (a)   There shall be a "Tenant Delay" if Landlord shall be
actually delayed, at any time after Commencement of Construction of the
Building, in commencing or completing the Initial Base Building Work, or in
commencing or completing any item(s) of the Post Delivery Base Building Work, or
in obtaining the construction loan referred to in Section 16.l(c)(iv)(A), as a
result of any of the following acts or omissions: (1) Tenant's failure to
approve or accept (or to disapprove with comments) or its delay in approving or
accepting (or disapproving with comments) the Base Building CD's (or any
versions thereof), or any aspect of the Base Building Work which Landlord
requests Tenant to approve on an expedited basis, all in accordance with the
applicable time limitations set forth in this Article 16 (to the extent the same
are specifically set forth herein, or with reasonable promptness if such time
periods are not specifically set forth herein); (2) any additional time required
to complete the Base Building Work caused by Change Orders (but not caused by
Base Building Enhancements, unless the scope of the Base Building Enhancement in
question is not consistent with the scope of such Base Building Enhancement as
shown on Exhibit N), or caused by the failure of Tenant timely to respond to any
Landlord requests for substitutions pursuant to Section 16.6; (3) the failure of
Tenant's Construction Representative to respond within five (5) Business Days
with respect to all issues which could not be addressed due to Tenant's failure
to attend the coordination meetings contemplated in Section 16.12, as such
issues are set forth in the notice delivered to Tenant pursuant to Section
16.12; (4) the performance of work by a contractor, vendor or employee of
Tenant which delays completion on of the Base Building Work; (5) any violation
against the Premises or the Building caused by  Tenant, which delays Landlord in
obtaining a TCO for the Premises sufficient for filing of so-called "Directive
14's" by Tenant; or (6) any delay resulting from Tenant's failure to perform any
of its obligations under this Lease.

        It is specifically understood and agreed that if more than one of the
events described in the preceding paragraph would actually delay Landlord from
commencing or substantially completing the Base Building Work, but such events
and the delays caused by them occur simultaneously, then to the extent of such
simultaneous occurrence such delays shall be deemed to run concurrently and not
consecutively.

                                     -52-

<PAGE>

         Unless Tenant knew of or reasonably should have known of the
circumstances giving rise to Tenant Delay and the fact of Tenant Delay as
evidenced by job minutes, correspondence, memoranda or other writings furnished
to or issued by Tenant (which job minutes, correspondence, etc. specifically
refer to such circumstances giving rise to a Tenant Delay and to the fact of a
Tenant Delay), Tenant shall not be charged for any Tenant Delay unless Landlord
shall have delivered notice to Tenant of such Tenant Delay within a reasonable
period (not to exceed thirty (30) days) after Landlord has actual knowledge of
the circumstances giving rise to such Tenant Delay, which notice shall refer to
the circumstances giving rise to such Tenant Delay. If notice is required, the
period of Tenant Delay shall be measured from the first Business Day after the
date when such notice shall have been delivered to Tenant. In the case of a
continuing Tenant Delay, Landlord agrees to consult with Tenant (at no
additional cost to Landlord) in an effort to mitigate such Tenant Delay.

                (b) Effects of Tenant Delays. In the event of one (1) or more
Tenant Delays described in Section 16.7(a), and without limiting anything
contained in Section 16.1(c) or Section 16.5(a), Tenant shall pay, as Additional
Rent and within thirty (30) days after receipt of Landlord's invoices therefor,
all increased hard and soft costs of construction of the Building (including
without limitation financing costs, but excluding any damages for Tenant Delay
as such other than such increased hard and soft costs of construction), incurred
by Landlord by reason of such Tenant Delay. In no event shall Tenant's payment
obligations pursuant to this Section 16.7(b) exceed Five Million Dollars
($5,000,000) in the aggregate.

                (c) Disputes. Any disputes about the operation of this Section
16.7 shall be referred to expedited construction arbitration pursuant to Article
34.

         16.8.  Landlord Delays; Notices to Guarantor.

                (a) Construction Schedule for Tenant Initial Work. On or before
the date which is two (2) weeks after the date when Tenant shall have received
the Preliminary Notice, Tenant shall deliver to Landlord a so-called "bar chart"
construction schedule for the Tenant Initial Work. Updates of such schedule
shall be delivered to Landlord at least monthly thereafter until Tenant has
substantially completed the Tenant Initial Work.

                (b) There shall be a "Landlord Delay" if Tenant shall be
actually delayed in commencing or completing the Tenant Initial Work, as a
result of any of the following acts or omissions: (1) Landlord's failure to
approve or accept (or to disapprove with comments) or its delay in approving or
accepting (or disapproving with comments) the Final Working Drawings (or any
portions or versions thereof), in accordance with the applicable time
limitations set forth in Section 16.14; (2) any additional time required to
complete the Tenant Initial Work caused by the failure of Landlord timely to
respond to any Tenant requests for Change Orders pursuant to Section 16.5; (3)
the failure of Landlord to respond within five (5) Business Days with respect to
all issues which could not be addressed due to Landlord's failure to attend the
coordination meetings contemplated in Section 16.12, as such issues are set
forth in a notice delivered to Landlord promptly after the coordination meeting
in question; (4) the performance of work by a contractor, vendor or employee of
Landlord which delays completion of the Tenant Initial Work (unless a
coordination issue within the ambit of Section 16.13(d), in which event Landlord
Delay shall only be incurred if and to the extent Landlord fails to comply with
the written decision of an Arbitrator pursuant to Section 34.3); (5) any
violation against the Premises or the Building caused by Landlord, which delays
Tenant in filing so-called "Directive 14's"; or (6) any delay resulting from
Landlord's failure to perform any of its obligations under this Lease (other
than the coordination obligations of Landlord pursuant to Section 16.13(d), in
which event Landlord Delay shall only be incurred if and to the extent Landlord
fails to comply with the written decision of an Arbitrator pursuant to Section
34.3).

         It is specifically understood and agreed that if more than one of the
events described in the preceding paragraph would actually delay Tenant from
commencing or substantially completing the Tenant Initial Work, but such events
and the delays caused by them occur simultaneously, then to the extent of such
simultaneous occurrence such delays shall be deemed to run concurrently and not
consecutively.

         Unless Landlord knew of or reasonably should have known of the
circumstances giving rise to Landlord Delay and the fact of Landlord Delay as
evidenced by job minutes, correspondence, memoranda or other writings furnished
to or issued by Tenant (which job minutes, correspondence, etc. specifically
refer to such circumstances giving rise to a Landlord

                                      -53-

<PAGE>

Delay and to the fact of a Landlord Delay), Landlord shall not be charged for
any Landlord Delay unless Tenant shall have delivered notice to Landlord of such
Landlord Delay within a reasonable period (not to exceed thirty (30) days) after
Tenant has actual knowledge of the circumstances giving rise to such Landlord
Delay, which notice shall refer to the circumstances giving rise to such
Landlord Delay. If notice is required, the period of Landlord Delay shall be
measured from the third (3rd) Business Day after the date when such notice shall
have been delivered to Landlord. In the case of a continuing Landlord Delay,
Tenant agrees to consult with Landlord (at no additional cost to Tenant) in an
effort to mitigate such Landlord Delay.

                (c) Effect of Landlord Delay. In the event of one or more
Landlord Delays described in Section 16.8(b), the Rent Commencement Date shall
be deferred one (1) day for each such day of Landlord Delay.

                (d) Disputes. Any disputes about the operation of this Section
16.8 shall be referred to expedited construction arbitration pursuant to Article
34.

                (e) Notices to Guarantor. A copy of any notice from Tenant to
Landlord pursuant to Section 16.1 or this Section 16.8, including without
limitation any notice of Landlord's default, delay, or failure to perform its
obligations under this Article 16, shall be delivered to the guarantor
("Guarantor") under that certain Completion Guaranty between Forest City
Enterprises, Inc. and Tenant (the "Completion Guaranty", dated as of the date
when the Completion Guaranty shall have been released from escrow and delivered
to Tenant pursuant to the terms of the Escrow Agreement). Such copy shall be
delivered to Guarantor within one (1) Business Day after such notice shall have
been delivered to Landlord, and shall be delivered in the manner prescribed by
Article 33 of this Lease to Forest City Enterprises, Inc., 1160 Terminal Tower,
50 Public Square, Cleveland, Ohio 44113-2203, Attention: General Counsel.

         16.9.  Assignment of Warranties. If requested by Tenant, Landlord shall
assign to Tenant the beneficial interest in all warranties and guarantees
received by Landlord from contractors and materialmen engaged in the performance
of the Base Building Enhancements, as well as the right to enforce any contracts
made with such contractors and materialmen, to the extent such warranties,
guaranties and enforcement rights relate to items Tenant is responsible for
repairing pursuant to Article 19. Landlord agrees to cooperate fully with Tenant
in the event that Tenant seeks to enforce its rights with respect to such
warranties and guarantees, and any costs incurred by Landlord in connection with
such cooperation shall be included as an item of Operating Expenses pursuant to
Article 3.

         16.10. Audit. The Tenant Initial Work Cost (including the costs of any
Change Orders) shall be subject to audit by Tenant, provided, that any such
audit shall be performed on reasonable prior notice, during normal business
hours, at Landlord's office in New York City.

         l6.11. Early Tenant Access and Inspections.

                (a) (i) During the ninety (90) day period prior to the date the
Initial Base Building Work is to be delivered to Tenant, Landlord shall permit
Tenant to enter the Premises to take field measurements and prepare plans, and
(ii) during the thirty (30) day period prior to the date the Initial Base
Building Work is to be delivered to Tenant, Landlord shall permit Tenant to
store materials in locations within the Premises which do not interfere with
Landlord's performance of the Base Building Work, and (iii) during the thirty
(30) day period prior to the date the initial Base Building Work is to be
delivered to Tenant, Landlord shall permit Tenant to commence construction of
the hoist (if any) which Tenant has elected to install pursuant to Section
16.19, provided in the case of all of the forgoing that (i) unless caused by the
negligence or willful misconduct of Landlord, Tenant alone shall bear the risk
of loss or damage to persons or property due to such early entry (it being
understood and agreed that Landlord will not be providing any security for the
Premises), (ii) the same does not, in Landlord's sole judgment, interfere with
Landlord's contractors performing the Base Building Work (and if Landlord has so
determined that there is such interference, at Landlord's request, Tenant shall
immediately stop such work and (unless such entry and/or work is in compliance
with Landlord's Construction Rules and Regulations), remove itself and its
materials from the portion of the Premises made available for such early entry
and/or from the Building's loading dock and elevators, (iii) Tenant complies
with any applicable Landlord rules and regulations regarding such access
("Landlord's Construction Rules and Regulations") annexed hereto as Exhibit P,
and (iv) such work is coordinated with Landlord. In the case of any conflict or
inconsistency between Landlord's

                                      -54-

<PAGE>

Construction Rules and Regulations and the provisions of this Lease, the
provisions of this Lease shall govern and control.

                (b) On reasonable prior notice to Landlord, without interfering
with Landlord's performance of the Base Building Work, and at Tenant's sole risk
and expense, Tenant shall have the right at any time during Landlord's
performance of the Base Building Work to inspect and confirm the progress of
construction of the Base Building Work.

         16.12. Coordination Meetings. Tenant shall cause a representative
designated by Tenant ("Tenant's Construction Representative") to endeavor to
meet with Landlord's construction representatives (at the Building if so
requested by Landlord) during Business Hours once each week (for as many hours
as Landlord may reasonably require) from the date hereof until the date all
Punch List Items for the Base Building Work shall have been completed. If
Tenant's Construction Representative is unable to attend or fails to attend a
meeting, Landlord shall notify Tenant in writing of such failure and the issues
which Landlord was unable to resolve. Tenant's Construction Representative shall
be authorized to accept Landlord proposals for Change Orders and Base Building
Enhancements, to certify the Commencement Date, to certify completion of ail
items of Post Delivery Base Building Work, and to give notices to Landlord
pursuant to Section 16.8.

         16.13. Tenant Initial Work -- General.

                (a) Except as specifically provided in Sections 16.1 - 16.12,
Tenant shall perform all work and shall make all alterations and install all
equipment required to prepare the Premises for Tenant's occupancy (the "Tenant
Initial Work") in compliance with applicable Legal Requirements, Insurance
Requirements, the applicable provisions of this Lease and Landlord's
Construction Rules and Regulations. Except as specifically provided in Sections
16.1-16.12 and any exhibits to this Lease referred to therein, Landlord shall
not be obligated to perform any work, make any alterations or install any
equipment to prepare the Premises, Tenant's Designated Roof Space, Tenant's
Designated Mechanical Space or Tenant's designated shaft space for Tenant's
occupancy.

                (b) Except as specifically provided in this Article 16, the
Tenant Initial Work shall be completed in accordance with the provisions of
Article 15.

                (c) Subject to Legal Requirements and Insurance Requirements,
the Tenant Initial Work may consist of such light fixtures, partition types,
ceilings, finishes, mechanical systems and other installations as Tenant
determines in its sole discretion, provided that the Tenant Initial Work shall
not be inconsistent with the Base Building Work Letter and Base Building CD's,
shall not adversely affect the Building systems, and shall not adversely affect
other tenants in the Building or the Project.

                (d) Without limiting anything contained in Section 16.7, Section
16.11 or any other applicable provision of this Lease, at all times during the
initial construction of the Building and the initial fit out of the Premises,
Tenant and Landlord shall each use commercially reasonable efforts not to delay
the other in the performance of the Base Building Work or the Tenant Initial
Work, respectively. Any dispute about the operation of this Section 16.13(d)
shall be referred to expedited construction arbitration pursuant to Article 34.

         16.14. Tenant Initial Work -- Final Working Drawings

                (a) If required by Landlord's construction lender, Tenant shall
prepare and deliver to Landlord Tenant's Final Working Drawings for the Tenant
Initial Work (or for the initial portion thereof as permitted by Section
16.14(d)) on or before the date which is fourteen (14) months after Commencement
of Construction of the Building.

                (b) Notwithstanding anything to the contrary in Section 15.1,
Landlord shall have twelve (12) Business Days (not ten (10) Business Days) to
review and respond to Tenant's submissions of Final Working Drawings for the
Tenant Initial Work (or any portion thereof as permitted by Section 16.14(c)),
and seven (7) Business Days (not five (5) Business Days) to review and respond
to resubmissions.

                (c) Landlord's right to approve the Final Working Drawings shall
be limited to those aspects of the Final Working Drawings which affect the
Building exterior, the

                                      -55-

<PAGE>

mechanical, electrical, plumbing or other Building systems (including without
limitation any Bui1ding management systems and Building security systems), the
structure of the Building, the Building parking garage, or the public, common or
mechanical areas of the Building.

                (d) Tenant may furnish Landlord with portions of Tenant's Final
Working Drawings for the Tenant Initial Work for Landlord's review and Landlord
shall respond to such portions of Tenant's Final Working Drawings within the
time periods set forth in Section 15.1 (as same may be extended pursuant to the
provisions of Section 16.14((b)), provided that each such portion (i) includes
complete construction documentation for one or more full floors of the Premises
or one or more discrete specialized units within the Premises (e.g. the computer
room), and (ii) includes fully coordinated architectural, mechanical, electrical
and, to the extent applicable, plumbing and sprinkler plans and specifications
for such one or more full floors or discrete specialized units within the
Premises.

         16.15. Tenant Initial Work -- Commencement and Completion. Provided
that Landlord has satisfied the Delivery Conditions for the Initial Base
Building Work, Tenant shall commence the Tenant Initial Work in a reasonably
prompt manner after receiving Landlord's final consent to Tenant's Final Working
Drawings, and shall diligently prosecute the Tenant Initial Work to completion
in accordance with Tenant's construction schedule for the Tenant Initial Work
(provided, that Tenant may revise said construction schedule in Tenant's sole
discretion subject to the requirements of Section 16.8(a)), and subject to
Landlord Delay and force majeure.

         16.16. Tenant Initial Work -- Tenant's Construction Representative,
Engineer.

                (a) Tenant's Construction Representative shall be deemed an
agent of Tenant and shall be authorized to bind Tenant with respect to
architectural, engineering, design and construction issues relating to the
Tenant Initial Work. Any change in Tenant's representative shall be effective
five (5) Business Days after Landlord's actual receipt of Tenant's notice
thereof, which notice shall be delivered to Landlord's Building manager.

                (b) Tenant shall employ as its engineer ("Tenant's Engineer"),
at Tenant's sole cost and expense, either (i) AMA Engineers or, if Tenant shall
so elect, (ii) another engineer selected by Tenant and approved by Landlord,
such approval not to be unreasonably withheld, to prepare complete, finished,
detailed mechanical drawings and specifications for the Tenant Initial Work,
including, without limitation, all work necessary to connect any special or
nonstandard facilities to existing Building systems.

         16.17. Tenant Initial Work -- Payment for Temporary Electric Service.
If pursuant to Section 16.l(a)(xv) (concerning temporary electric service
sufficient for performance of the Tenant Initial Work) temporary electric
service is furnished by Landlord as a Delivery Condition, or if pursuant to
Section 16.l(a)(ii) (concerning temporary electric service with so-called
"permanent characteristics") Tenant requests such temporary electric service as
an item of Post Delivery Base Building Work, Landlord shall furnish and install
one or more consumption meters to measure Tenant's use of such temporary
electricity (if and to the extent practicable in the case of temporary electric
service with so-called "permanent characteristics"). Tenant shall pay Landlord
for the use of such temporary electricity an amount equal to (i) the number of
kilowatt hours consumed by Tenant, multiplied by (ii) Landlord's average cost
per kilowatt hour for such electricity in the Building during the period(s) in
question, or, if such method of payment is not practicable in the case of
temporary electric service with so-called "permanent characteristics", Tenant
shall pay Landlord for the use of such temporary electricity in a manner
reasonably determined by Landlord. Tenant shall pay Landlord for such temporary
electricity within ten (10) days after receipt of Landlord's invoice therefor.

         16.18. Tenant Initial Work -- Certificate of Occupancy.

                (a) Landlord shall use commercially reasonable efforts, and
shall cause its consultants to use commercially reasonable efforts, to
coordinate with Tenant's efforts to file so called "Directive 14's" and obtain a
TCO permitting occupancy of the Premises.

                (b) Landlord shall use reasonable efforts, at no third party
cost to Landlord, to cooperate with Tenant's filing, permitting and approval
process for the Tenant Initial Work.

         16.19. Tenant Initial Work -- Access to Hoist, Freight Elevator and
Loading Dock.

                                      -56-

<PAGE>

                (a)  During performance of the Tenant Initial Work, Tenant shall
have nonexclusive access (with Landlord and other tenants), during Business
Hours and during hours other than Business Hours, to any hoist maintained and
operated by Landlord, to the Building freight elevators (if and to the extent
operational) and to the Building loading docks (if and to the extent
operational). Subject to Tenant Delays and force majeure, Landlord shall use
reasonable efforts to make the Building freight elevators and Building loading
docks operational substantially in accordance with the Construction Schedule.
Tenant's use of Landlord's hoist, the Building freight elevators and the
Building loadings docks shall be at Tenant's expense and shall not interfere
with Landlord's performance of the Base Building Work. As between Tenant and
other tenants, the allocation of access to Landlord's hoist, the Building
freight elevators and the Building loading docks shall be fair and equitable. If
Tenant's use of Landlord's hoist, the Building freight elevators or the Building
loading docks is shared with any other tenant, the costs of operation of such
hoist, freight elevators or loading docks shall be equitably allocated between
Tenant and such other tenant. Any disputes concerning the operation of this
Section 16.19(a) shall be submitted to expedited construction arbitration
pursuant to Article 34.

                (b)  If Tenant desires to construct and operate its own hoist
for the Tenant Initial Work, Tenant shall so notify Landlord on or before the
date which is sixty (60) days after Commencement of Construction of the
Building, which notice shall specify the location preferred by Tenant for
Tenant's hoist, the manufacturer, model, material specifications and proposed
manner of operation of Tenant's hoist and the insurance coverage for Tenant's
hoist, all of which shall be subject to the reasonable approval of Landlord.
Upon approval by Landlord, Tenant may commence construction of its hoist in
accordance with the provisions of Section 16.11(a) and shall thereafter
operate, maintain and remove Tenant's hoist in accordance with the applicable
terms and conditions of the proviso to the first sentence of Section 16.11(a),
notwithstanding that such operation, maintenance and removal shall occur after
the Commencement Date. Tenant shall remove its hoist by the later of (i) ten
(10) Business Days after the Building freight elevators and loading docks shall
have become operational and shall have been made available to Tenant for
Tenant's use pursuant to Section 16.19(a), or (ii) thirty (30) days prior to the
date when Landlord is required pursuant to item (vi) of the Post Delivery Base
Building Work (as set forth in Section 16.1(a)) to remove hoists from, and
complete enclosure of, the curtain wall surrounding the Premises. Tenant's
construction, operation, maintenance and removal of Tenant's hoist shall be at
Tenant's expense.

         15.20. Tenant Initial Work -- Tenant Initial Work Allowance.

                (a)  Tenant anticipates spending at least Fifty Million Dollars
($50,000,000) in the aggregate to perform the Tenant Initial Work (exclusive of
Tenant's Property).

                (b)  Tenant Initial Work Allowance.

                (i)  Subject to the terms and conditions set forth below,
Landlord shall reimburse Tenant for, or advance to Tenant, as the case may be,
an aggregate amount of up to (i) (A) Eleven Million Two Hundred Seventy-Seven
Thousand Nine Hundred Eighty and 00/l00 Dollars ($11,277,980) or Thirty-Five
Dollars ($35) per rentable square foot, plus (B) One Million Two Hundred
Fifty-Nine Thousand Four Hundred Thirty-Five Dollars ($1,259,435) (as each of
(A) and (B) may be adjusted pursuant to Section 40.l(b)(iv)) (the sum of (A)
plus (B) is referred to herein as the "Base Allowance"), plus (ii) up to
Thirty-Five Million Dollars ($35,000,000) of so-called "rentalized" costs of
the Tenant Initial Work (the "Rentalized Amount" the sum of the Base Allowance
and the Rentalized Amount is referred to herein as the "Tenant Initial Work
Allowance") for Landlord's Share of the following costs incurred and paid by
Tenant in connection with the Tenant Initial Work (other than Tenant's
Property): labor, materials, architectural, engineering, expediting and other
consulting fees, project management, and costs associated with all necessary
permits and approvals. In the event that the cost and expense of all such items
shall exceed the amount of the Tenant Initial Work Allowance, Tenant shall be
entirely responsible for such excess. "Landlord's Share" shall mean the
percentage equivalent of a fraction (but in no event in excess of one) the
numerator of which is the total amount of Tenant Initial Work Allowance and the
denominator of which is the total cost of the Tenant Initial Work.

                (ii) On or before the date which is ten (10) days after the date
when all of the conditions to be satisfied pursuant to Paragraph 4(b) of the
Escrow Agreement shall have been satisfied, or shall have been waived by Tenant,
Tenant shall notify Landlord of the amount of

                                      -57-

<PAGE>

Tenant Initial Work costs (not to exceed Thirty-Five Million Dollars) to be
rentalized. Tenant shall repay the Rentalized Amount advanced to Tenant as Fixed
Rent in accordance with the provisions of Section 1.3(a)(iv). In no event shall
Landlord be obligated to advance to Tenant any portion of the Rentalized Amount
in excess of Ten Million Dollars ($10,000,000) unless Tenant shall have
complied with Tenant's obligations to furnish the Letter of Credit in accordance
with Article 43 and with the applicable terms and provisions of the Escrow
Agreement.

                (iii) Notwithstanding that the entire Rentalized Amount which
Landlord is required to advance hereunder may not have been previously
requisitioned by Tenant in accordance with this Section 16.20, on and after the
date of the closing of Landlord's permanent financing for the Building, Landlord
shall no longer be obligated to advance the previously unrequisitioned balance
of the Rentalized Amount. If any such balance of the Rentalized Amount remains
outstanding, Landlord will reasonably cooperate with Tenant to secure an
arrangement whereby such outstanding balance shall be deposited in escrow (or
like arrangement) and made available for further advances to Tenant pursuant to
the terms of this Section 16.20 (or on substantially similar terms). Any such
arrangement shall be subject to the approval of Landlord's construction lender
and Landlord's permanent lender. In the event any such outstanding balance of
the Rentalized Amount shall have been deposited in escrow (or like arrangement)
pursuant to this Section 16.20, the amount of Fixed Rent payable by Tenant
pursuant to Section 1.3(a)(iv) shall be appropriately adjusted, taking into
account Landlord's financing and related costs in connection therewith.

                (c)   Prior to the commencement of the Tenant Initial Work, and
as a condition to Landlord's obligation to provide the Tenant Initial Work
Allowance, Tenant shall provide a certificate in form reasonably satisfactory to
Landlord, from Tenant's Chief Financial Officer, certifying the total cost
of the Tenant Initial Work and providing a certification of Tenant's general
contractor, setting forth the total cost of the Tenant Initial Work and
including a trade breakdown evidencing the total cost of all such Tenant Initial
Work. If at any time during the time of the performance of the Tenant Initial
Work Landlord shall reasonably determine that, whether because of increased
costs for change orders or for any other reason, Landlord theretofore
contributed more than Landlord's Share (as it may increase or decrease from time
to time pursuant to change orders or otherwise) of the costs of the Tenant
Initial Work already performed or that any requisition would result in Landlord
paying more than the Landlord's Share of the costs of all Tenant Initial Work
performed prior to such date, Landlord may cease making any disbursements of the
Tenant Initial Work Allowance unless and until sufficient additional Tenant
Initial Work has been performed and payments by Tenant have been made so that
the total disbursements of the Tenant Initial Work Allowance are equal to or
less than the Landlord's Share of the cost of the Tenant Initial Work.

                (d)   Landlord shall disburse from time to time, but not more
often than once in any calendar month, to Tenant or directly to Tenant's
contractors (if so requested by notice to Landlord) and within ten (10) Business
Days after receipt of Tenant's requisition therefor, that portion of the Tenant
Initial Work Allowance equal to the Landlord's Share of the amount set forth in
Tenant's requisition, provided however, that no advance shall be made if, and
for so long as, Tenant shall be in monetary default under this Lease beyond any
applicable notice and cure period. No advance shall be made until receipt of a
request therefor from Tenant and submission by Tenant of the following:

                (i)   A certificate signed by Tenant and Tenant's Architect,
dated not more than ten (10) days prior to such request, setting forth (A) an
itemized account of the sums paid by Tenant for amounts justly due to all
contractors, subcontractors, materialmen, engineers, architects and other
persons who have rendered services or furnished materials in connection with the
Tenant Initial Work, (B) that the work described in the certificate has been
completed substantially in accordance with the Final Working Drawings
previously approved by Landlord, (C) that Tenant has not received notice of the
filing with respect to the Premises or the Building or any part thereof or any
improvements thereon, any vendor's, mechanic's, laborer's, materialmen's or
other liens arising out of the Tenant Initial Work which have not been
discharged of record, (D) that to the best of Tenant's knowledge, Tenant has
complied with all of the material conditions set forth in this Lease applicable
to the Tenant Initial Work reflected in the requisition then pending, and (E)
that to the best of Tenant's knowledge, Tenant has complied with Legal
Requirements applicable to the Tenant Initial Work reflected in the requisition
then pending;

                                      -58-

<PAGE>

               (ii)  Partial lien waivers, receipted invoices or such other
proof of payment as Landlord shall reasonably require for all work done and
materials supplied with respect to any prior requisitions for which Tenant
previously applied for payment; and

               (iii) A statement from the Tenant's Architect setting forth the
total remaining cost of the Tenant Initial Work to be performed, including
without limitation, an itemization of any additional costs not theretofore
disclosed to Landlord.

               (e)   Upon completion of the Tenant Initial Work and together
with Tenant's final requisition pursuant to this Section 16.20, Tenant shall
deliver (i) a certificate signed by Tenant's Architect and an officer of Tenant
certifying that the Tenant Initial Work has been substantially completed in
accordance with the approved Final Working Drawings, (ii) all Building
Department sign-offs, inspection certificates and any and all permits required
to be issued in accordance with Legal Requirements, and (iii) a general release
from all contractors and subcontractors performing the Tenant Initial Work,
releasing Landlord and Tenant from any and all liability for any work or
materials.

        16.21. Tenant Initial Work -- Miscellaneous.

               (a)   The Tenant Initial Work, upon the expiration or earlier
termination of the Term, shall be and remain the property of Landlord and shall
not be removed by Tenant except in accordance with Articles 15 and 28.

               (b)   Subject to the provisions of Section 10.1(d), Tenant shall
make its own arrangements for telecommunications equipment and services for the
Premises. Landlord shall reasonably cooperate with Tenant in connection
therewith but Landlord shall have no responsibility therefor.

               (c)   Tenant shall not store any materials and equipment used for
or in connection with the Tenant Initial Work within or adjacent to the
Building, including without limitation in the receiving area at the ground level
of Landlord's hoist, other than within the Premises.

               (d)   Provided that Tenant shall give Landlord reasonable prior
notice thereof, Tenant may, at its sole cost and expense, test those of its
systems which interface with the Building systems and Landlord shall cooperate
with Tenant to the extent reasonably required in connection therewith. Tenant
shall permit Landlord's representatives to coordinate and observe such testing
and shall provide Landlord's representatives access to and copies of test
results, provided however, Landlord shall operate all of the Building systems
and equipment in connection with and affected by such testing.

               (e)   At times reasonably acceptable to Landlord, Landlord shall
perform all shutdowns necessary for connections of Tenant's systems,
installations and equipment to the applicable Building systems including,
without limitation, Tenant's water, electric, gas, ventilation, chilled water
and condenser water systems. At times reasonably acceptable to Landlord.
Landlord shall perform all shutdowns and connections necessary for connections
of Tenant's Class E system.

               (f)   Tenant shall, throughout the performance of the Tenant
Initial Work, promptly remove all rubbish and debris from the Premises using a
refuse remover designated by Tenant and reasonably acceptable to Landlord.

               (g)   Window pocket detail for windows in the Premises shall be
furnished and installed by Tenant as part of the Tenant Initial Work, and in
accordance with the Metrotech Design Guidelines.

                                   ARTICLE 17

                                    INSURANCE

        17.1.  Landlord and Tenant shall comply with all Insurance Requirements.
Tenant shall not violate, or permit the violation of, any Insurance
Requirements, and shall not do (or permit to be done) or keep (or permit to be
kept) anything in the Premises that could: (a) increase the fire or other
casualty or property insurance rate on the Building or the property therein over
the rate

                                      -59-

<PAGE>

that would otherwise then be in effect unless Tenant shall agree to pay the
amount of any such rate increases and Landlord shall consent thereto, which
consent shall not be unreasonably withheld; or (b) result in insurance companies
of good standing refusing to insure the Building or any of such property in
amounts reasonably satisfactory to Landlord. If, solely by reason of a failure
of Tenant to comply with the provisions of this Section 17.1 the rate of fire or
other casualty or property insurance on the Building or equipment or other
property of Landlord shall be higher than it otherwise would be, Tenant shall
reimburse Landlord, within ten (10) Business Days following demand, for that
part of the premiums for such insurance paid by Landlord because of such failure
on the part of Tenant. A schedule or mark up of rates for the Building or the
Premises, as the case may be, issued by the New York Fire Insurance Rating
Organization or other similar body making rates for fire or other casualty or
property insurance for the Building or the Premises or the current or
prospective property insurer shall be presumptive evidence of the facts therein
stated and of the several items and charges in the insurance rate then
applicable to the Building or the Premises.

         17.2. (a) Tenant shall secure and keep in full force and effect
throughout the Term, at Tenant's expense: (i) Commercial General Liability
Insurance, written on an occurrence basis, to afford protection in the amount of
Five Million Dollars ($5,000,000) combined single limit for bodily injury and
property damage including personal injury coverage (with contractual and
employee exclusions deleted), broad form property damage coverage, contractual
liability coverage as respects any indemnification or hold harmless provisions
contained herein, completed operation coverage and independent contractors
coverage, or such increased amount as Landlord may reasonably determine from
time to time, but in no event more frequently than every two (2) years, based
upon what comparable tenants of comparable space in first-class office buildings
in the City are required to carry; (ii) "all risk" coverage upon Tenant's
Property for one hundred percent (100%) of replacement cost including a
stipulated (agreed) valuation endorsement and including business interruption
coverage; (iii) if not included in the above-mentioned policies, Blanket Broad
Form Boiler and Machinery Insurance (including Business Interruption coverage)
on all items commonly covered by such insurance and now or hereafter installed
by or for Tenant and used exclusively by Tenant, its Affiliates and permitted
subtenants, assignees and transferees in amounts reasonably set by Landlord and
in no event less than One Million Dollars ($l,000,000); (iv) Workers
Compensation Insurance and State Disability Benefits Insurance, as required by
law; and (v) such other insurance and in such amounts as are normally carried by
comparable tenants of comparable space in first-class office buildings in the
City, from time to time. Tenant shall have the right to insure and maintain the
insurance coverages set forth in this Section under blanket or umbrella
insurance policies covering other Premises occupied by Tenant so long as such
blanket or umbrella policies comply as to terms and amounts with the insurance
provisions set forth in this Lease without the possibility of reduction or
coinsurance by reason of, or damage to, any other Premises named therein. If the
insurance required by this Section shall be effected by any such blanket or
umbrella policies, Tenant shall furnish to Landlord executed certificates of
such policies showing the insurance (in the proper amounts and with proper
coverages) afforded by such policies applicable to the Premises as requested by
Landlord. During the performance of any Tenant Change in the Premises. Tenant
shall require all contractors and subcontractors to provide Workers Compensation
Insurance and State Disability Benefits Insurance as required by law, Commercial
General Liability Insurance including the coverage described in subsection (i)
above except that minor subcontractors will only be required to secure
Commercial General Liability Insurance, to afford protection in the amount of
Two Million Dollars ($2,000,000) combined single limit, "all risk" insurance
including the coverage described in subsection (c) below and completed
operations coverage which is to be kept in effect for one (1) year after
completion of the work Contractors' and subcontractors' policies shall comply
with Sections 17.3 and 17.4.

               (b) Landlord shall secure and keep in full force and effect
throughout the Term an "all risk" policy of insurance against loss or damage to
the Building, contractual liability coverage as respects any indemnification or
hold harmless provisions contained herein and such other policies of insurance
as may be required by the terms of any Superior Mortgage or Superior Lease,
which policies shall comply with the applicable provisions of Sections 17.3 and
17.4 hereof and which policies may be maintained under "blanket policies" of
insurance and which policies shall insure all of the Tenant Initial Work and
Tenant Changes other than Special Initial Work and Special Tenant Changes.
Landlord agrees that with respect to insurance against loss or damage to the
Building under an "all risk" policy of insurance, it shall carry insurance in
limits equivalent to one hundred percent (100%) of the replacement cost of the
Building, less

                                      -60-

<PAGE>

foundations and footings. As used herein, the term "Special Initial Work" shall
mean the portion of the Tenant Initial Work consisting of special data and
communications facilities, raised computer floors, kitchens, vaults, internal
staircases, dumbwaiters, pneumatic tubes, vertical and horizontal
transportation systems, the Antenna and any other Tenant Initial Work of a
similar character.

               (c) During the period that Tenant is performing (or causing to be
performed) the Tenant Initial Work or any Tenant Changes, Tenant shall secure
and keep in full force and effect (or cause to be secured and kept in full force
and effect), at Tenant's cost, "all risk" coverage (including but not limited to
glass breakage, sprinkler leakage and collapse) for one hundred percent (100%)
of the replacement cost including a stipulated (agreed) valuation endorsement
(the "Special Work Coverage") for the Special Initial Work and the Special
Tenant Changes (whether or not in the course of construction). Upon completion
of the Tenant Initial Work in the Premises (or any entire floor thereof) and any
Tenant Change, Tenant may notify Landlord of the value of the Special Initial
Work and the Special Tenant Changes in the Premises (or the applicable
portions(s) thereof) (such value, as same may be increased from time to time,
the "Insurable Value") and request that Landlord insure same. Promptly following
Landlord's receipt of a notice regarding the Insurable Value, Landlord shall
secure and keep in full force and effect as part of Landlord's "all risk" policy
for the Building, at Tenant's cost as set forth herein, the Special Work
Coverage in an amount at least equal to the Insurable Value. Landlord shall
notify Tenant when the Special Work Coverage in an amount at least equal to the
Insurable Value is or will be effective under Landlord's insurance policy and
thereafter Tenant shall not be required to maintain the Special Work Coverage
with respect to such Insurable Value. From time to time during the Term but no
more than twice during any calendar year, Tenant may notify Landlord that the
Insurable Value has increased or decreased and request that Landlord increase or
decrease the Special Work Coverage accordingly and promptly following receipt of
such request, Landlord shall increase or decrease same, at Tenant's cost as set
forth herein. Landlord will notify Tenant when such adjustment to the Special
Work Coverage is or will be effective under Landlord's "all risk" insurance
policy for the Building. Tenant shall pay to Landlord any incremental increase
in costs incurred by Landlord for "all risk" insurance premiums and charges
attributable to the Special Tenant Changes and the Special Initial Work within
fifteen (15) Business Days after demand therefor as Additional Rent. If at any
time during the Term the foregoing insurance shall be unobtainable by Landlord,
then Landlord may advise Tenant of such fact and Tenant shall promptly secure
and keep in full force and effect the foregoing insurance to the extent Tenant
is able to obtain same at commercially reasonable rates. Tenant may, at any time
during the Term, notify Landlord that Tenant no longer wishes Landlord to insure
the Special Initial Work and the Special Tenant Changes and promptly following
receipt of such request, Landlord shall terminate such Special Work Coverage and
thereafter Landlord shall have no responsibility to insure the Special Initial
Work or the Special Tenant Change unless thereafter Tenant shall request that
Landlord reinstate such Special Work Coverage in an amount equal to the
Insurable Value determined by Tenant; in which case promptly following receipt
of such request, Landlord shall secure and keep in full force and effect, at
Tenant's cost as set forth herein, such Special Work Coverage. Landlord shall
notify Tenant when such Special Work Coverage in an amount at least equal to the
Insurable Value is or will be effective under Landlord's "all risk" insurance
policy for the Building.

         7.3.  All insurance provided under this Article 17 shall be written in
form and substance reasonably satisfactory to Landlord by an insurance company
and with general policy holder's ratings of not less than A- and a financial
rating of at least VII, as rated in the most current available "Best's"
insurance reports, or the then equivalent thereof, and licensed to do business
in New York State and authorized to issue such policies. All such insurance
shall have a term of not less that one (1) year. Upon failure of Tenant to
procure, maintain and place such insurance and pay all premiums and charges
therefor, Landlord may (but shall not be obligated to) do so, provided that
Landlord and Tenant shall each notify the other promptly upon learning of any
such failure and provided further than Landlord shall afford Tenant ten (10)
days within which to cure any such failure unless such ten (10) day cure period
would expose Landlord to any liability, penalty or other burden. Landlord and
Tenant shall each notify the other promptly upon learning of any failure by
Landlord to procure any insurance required to be maintained by Landlord
hereunder. If Landlord elects to procure such insurance as aforesaid, Tenant
shall pay the amount thereof to Landlord as Additional Rent within fifteen (15)
Business Days after demand therefor. All policies of insurance procured by
Tenant shall contain endorsements providing that (a) the insurance company shall
give to Landlord and each Superior Lessor and

                                      -61-

<PAGE>

Mortgagee as to which Landlord has previously delivered the names and addresses
to Tenant, thirty (30) days' prior notice with respect to any such policy being
cancelled, allowed to lapse or materially changed; and (b) Tenant shall be
solely responsible for the payment of premiums therefor notwithstanding that
Landlord is named as an additional insured. Duly executed certificates of
insurance (including evidence of the waivers of subrogation required pursuant to
Section 17.6) or, if required by Landlord or a Superior Lessor or Mortgagee,
original policies (or certified copies thereof), together with reasonably
satisfactory evidence of payment of the premiums therefor, shall be delivered to
Landlord on or before the Commencement Date. Any endorsements to any such
policies specifically relating to the Building or the Premises shall also be so
deposited upon issuance thereof and each renewal or replacement of a policy
shall be so deposited prior to the expiration of such policy. Tenant shall not
carry any separate or additional insurance concurrent in form or contributing in
the event of any loss or damage with any insurance required to be maintained by
Tenant under this Lease. Further, all policies of insurance procured by Tenant
shall be written as primary policies not contributing with nor in excess of
coverage that Landlord may carry.

         17.4. All insurance procured by Tenant or its contractors or
subcontractors under this Article 17 shall be issued in the name of Tenant and
for the benefit of Tenant and with respect to the "all risk" insurance policy
and the Commercial General Liability Insurance policy, Tenant (and it
contractors and subcontractors) shall name Landlord (and each general partner
or venturer or member thereof in the event Landlord is a partnership or joint
venture or limited liability company), as an additional insured and, unless
Landlord otherwise requests, each Superior Lessor and its agent, if any, and
each Mortgagee, as additional insureds as their respective interests may appear,
and shall contain an endorsement that each of Landlord, and any Superior Lessor
and Mortgagee, although named as additional insureds, nevertheless shall
continued to be named as such additional insured under said policies for so long
as such policies are in effect for any loss or damages occasioned to it, its
respective agents, employees, contractors, directors, shareholders, partners and
principals (disclosed or undisclosed) by reason of the negligence, acts or
omissions of Tenant, its servants, agents and employees.

         17.5. Except as otherwise expressly set forth herein, none of the
Special Initial Work, the Special Tenant Changes nor any Tenant's Property shall
be insured by Landlord under Landlord's insurance policies nor shall Landlord be
required under Article 30 or any provision of this Lease to either reinstall,
restore, repair or replace any thereof. If Landlord is required or elects to
repair or reconstruct the Premises under the provisions of Article 30 hereof,
Landlord shall so rebuild the Base Building Work within the Premises (exclusive
of any portion thereof theretofore removed by Tenant with Landlord's prior
written consent), the Tenant Initial Work and all Tenant Changes.

         17.6. Landlord and Tenant shall each endeavor to secure an appropriate
clause in, or an endorsement upon, each "all risk" insurance policy obtained by
it and covering the Building, the Premises, the Tenant Initial Work (including
Special Initial Work), Tenant Changes (including Special Tenant Changes),
Tenant's Property or any other the personal property, fixtures and equipment
located in or on the Premises, pursuant to which the respective insurance
companies waive subrogation or permit the insured, prior to any loss, to agree
with a third party to waive any claim it might have against said third party.
The waiver of subrogation or permission for waiver of any claim hereinbefore
referred to shall extend to the agents of each party and its employees and, in
the case of the waiver or permission in or upon any of Tenant's insurance
policies, shall also extend to all other Persons occupying or using the Premises
in accordance with the terms of this Lease. If and to the extent that such
waiver or permission can be obtained only upon payment of an additional charge,
then the party benefiting from the waiver or permission shall pay such charge
upon demand, or shall be deemed to have agreed that the party obtaining the
insurance coverage in question shall be free of any further obligations under
the provisions hereof relating to such waiver or permission.

         Each party hereby releases the other with respect to any claim
(including a claim for negligence) which it might otherwise have against the
other party for loss, damage or destruction with respect to its property by
fire or casualty (including rental value or business interruption) occurring
during the term of this Lease to the extent to which such party is insured under
a policy containing a waiver of subrogation or permission for waiver. If,
notwithstanding the recovery of insurance proceeds by either party for loss,
damage or destruction of its property (or rental value or business
interruption), the other party is liable to the first party with respect thereto
or is obligated under this Lease to make replacement, repair or restoration,
then provided the first

                                      -62-

<PAGE>

party's, right of full recovery under its insurance policies is not thereby
prejudiced or otherwise adversely affected, the amount of the net proceeds of
the first party's insurance against such loss, damage or destruction shall be
offset against the second party's liability to the first party therefor, or
shall be made available to the second party to pay for replacement, repair or
restoration, as the case may be.

                                   ARTICLE 18

                                TENANT'S PROPERTY

       18.1. Notwithstanding anything hereinbefore contained to the contrary,
provided Tenant complies with applicable Legal Requirements and all applicable
Insurance Requirements, Tenant shall have the right, at its expense, to install,
maintain and operate such moveable machinery or equipment including, without
limitation, telecommunication equipment, data processing equipment and trade
fixtures as may be required for the proper conduct of Tenant's business, except
that if any thereof or the installation of any thereof shall require
alterations, or shall materially adversely affect electrical, mechanical, HVAC
or other Building systems, or if any bulky machinery or equipment which shall
block all or a major portion of any window of the Premises shall be visible from
outside the Premises (including, without limitation, main-frame computers but
excluding machinery and equipment used in the Premises such as desks,
telephones, personal computers and other similar moveable office equipment and
furniture), Landlord's prior written consent, if any, in accordance with and in
compliance with Article 15 shall be required, which consent shall not be
unreasonably withheld. If Landlord shall fail to respond to a request made by
Tenant to install any such item within ten (10) Business Days after receiving
such request, Landlord's failure to respond shall be deemed to mean that
Landlord has approved such installation. Subject to the provisions of this
Article, any and all such movable machinery or equipment including, without
limitation, telecommunication equipment, data processing equipment and trade
fixtures installed by Tenant and all furniture, furnishings and other items of
personal property (sometimes herein collectively called "Tenant's Property"
shall remain personalty notwithstanding the fact that same may be affixed or
attached to the realty, and shall, during the Term or any extension or renewal
thereof, belong to and be removable by Tenant, provided that Tenant shall comply
with, and Tenant's Property shall be subject to, the provisions of Section 18.2
hereof.

       18.2. To the extent Tenant has not previously ascertained pursuant to
Section 15.1(c), Tenant shall ascertain from Landlord at least sixty (60) days
(or such other reasonable period under the circumstances if the Term shall end
earlier) prior to the end of the Term whether Landlord chooses to have any of
Tenant's Property installed by Tenant and constituting Special Tenant Changes
or Special Initial Work removed from the Premises and if Landlord shall so
desire, Tenant shall, on or prior to the end of the Term hereof, remove such
indicated items and restore the affected portion of the Premises to good order,
condition and repair. All Tenant's Property constituting Special Tenant Changes
or Special Initial Work (except such of those items which Landlord expressly
agrees are to remain in the Premises and become the property of Landlord),
remaining within the Premises after the expiration of such Term or sooner
termination thereof and after Tenant is no longer in possession of the Premises
shall, at Landlord's option, either (a) become the property of Landlord, free of
any claim by Tenant or any person claiming through Tenant, or (b) be removed and
disposed of by Landlord, at Tenant's cost and expense, without further notice to
or demand upon Tenant. Tenant's obligations under this Section shall survive the
expiration or sooner termination of the Term hereof provided that Landlord shall
notify Tenant of any obligation under this Section 18.2 within six (6) months
following the expiration or sooner termination of the Term.

                                   ARTICLE 19

                             REPAIRS AND MAINTENANCE

       19.1. (a) Subject to the provisions of Section 19.2 and Article 21
hereof, Tenant shall at its expense, throughout the Term of this Lease, take
good care of and maintain in good order and condition the Premises, the Tenant
Initial Work, all Tenant Changes and all Tenant's Property. Tenant shall be
responsible for all repairs (and the cost thereof), whether interior or
exterior, structural or non-structural, ordinary or extraordinary, foreseen or
unforeseen, in and to the Premises, the Tenant Initial Work, all Tenant Changes
and all Tenant's Property, unless such repairs are required as a result of the
negligent acts or omissions of Landlord or any Landlord's

                                      -63-

<PAGE>

Parties. With respect to the Building systems serving the Premises, Tenant
shall be responsible for (i) repair and maintenance of Tenant's internal
air-distribution system to the point at which the same connects to the main
distribution duct for the Premises, (ii) repair and maintenance of the internal
electrical system to the panel box serving the Premises and any meter or other
wiring, conductor or equipment installed in connection with Tenant's direct
electricity service, and (iii) repair and maintenance of all plumbing fixtures
and lines in and serving the Premises to the point at which the same join the
main vertical plumbing risers of the Building. All such repairs and maintenance
with respect to such Building systems shall be performed by a contractor
retained by Tenant and reasonably approved by Landlord or, at Landlord's
election, by Landlord with the actual cost thereof to Landlord being payable by
Tenant as Additional Rent within ten (10) days after rendition by Landlord of
any bill(s) pertaining thereto. Tenant, at its expense, shall promptly replace
all scratched, damaged or broken doors, windows and glass in and about the
Premises and shall be responsible for all repairs, maintenance and replacement
of wall and floor coverings in the Premises unless such repair is caused by the
negligent acts or omissions of Landlord or any Landlord Parties. All repairs in
and to the Premises for which Tenant is responsible shall be promptly performed
by Tenant in a manner which will not unreasonably interfere with the use of the
Building by others.

                (b) All damage or injury to the Building and the facilities and
systems thereof to the extent the same arise out of (i) the installation, use or
operation of Tenant's Property, or (ii) the moving of Tenant's Property in or
out of the Building, shall be repaired, restored or replaced promptly by Tenant
at its sole cost and expense to the reasonable satisfaction of Landlord. All
repairs, restorations and replacements made by Tenant under this Section 19.1
shall be in quality and class equal to the work or installations existing
immediately prior to such damage. Any repairs in or to the Building and the
facilities and systems thereof for which Tenant is responsible (other than
repairs required to be performed by Tenant pursuant to Section 19.1(a)) shall
be performed by Landlord at Tenant's reasonable expense. Landlord may, at its
option, before commencing any such work or at any time thereafter if such work
costs in excess of One Hundred Fifty Thousand Dollars ($150,000), require
Tenant, if reasonable under the circumstances, to furnish to Landlord such
security, in form and amount as Landlord shall reasonably deem necessary to
assure the payment of such work by Tenant; it being agreed, however, that
Landlord shall have no right to require the foregoing security from Tenant if
Empire HealthChoice, Inc. d/b/a Empire Blue Cross Blue Shield (or any successor
thereto) and its Affiliates or permitted successor corporation shall be
occupying at least fifty percent (50%) of the Premises prior to the commencement
of such work.

          19.2. (a) Landlord shall maintain and operate the Building in
conformance with standards applicable to first-class office buildings. All
repairs made by Landlord shall be diligently performed in a good and workmanlike
manner and Landlord shall use reasonable efforts to minimize interference with
Tenant's business, and otherwise perform such repairs in accordance with, and
subject to, the provisions of this Lease.

                (b) Except for those repairs for which Tenant is responsible
pursuant to the terms hereof and subject to the terms of Section 19.1(a) and
Article 21, Landlord shall, at its expense (subject to the provisions of
Article 3 hereof), make all necessary repairs, interior and exterior, structural
or nonstructural to keep the Building, including, without limitation, the
Building's mechanical, electrical, plumbing, sanitary, heating, ventilating and
air-conditioning systems, including all components of such systems servicing the
Premises and other service systems of the Building (including the Class E
systems and risers of the sprinkler system) in conformance with standards
applicable to first-class office buildings, unless such repairs are required as
a result of the negligent acts or omissions of Tenant or any of Tenant's
Parties, in which event, the cost thereof shall be born by Tenant and paid as
Additional Rent within ten (10) Business Days after Landlord's demand therefor.

                (c) Upon prior notice from Tenant received within twelve (12)
months after the date when the item of Base Building Work in question has been
substantially completed (or a longer period if and to the extent Landlord is
covered for the cost of such repair under a warranty), Landlord shall at
Landlord's expense repair any latent defects in such item of the Base Building
Work.

          19.3. Tenant shall give Landlord prompt notice of any defective
condition in any plumbing, heating or electrical lines located in, servicing or
passing through the Premises which Landlord is responsible for repairing of
which Tenant has actual knowledge. Following such

                                      -64-

<PAGE>

notice Landlord shall remedy the conditions, but at the expense of Tenant if
Tenant is responsible for same under the provisions of this Article. If Landlord
shall fail (other than for reasons of force majeure) to commence and thereafter
diligently prosecute to completion any of the repairs that it is obligated to
perform pursuant to this Article 19 within ten (10) Business Days, after
Landlord receives notice thereof from Tenant (or within two (2) Business Days,
if such repair is of the nature that the failure to make the same shall prevent
Tenant from conducting its business in the Premises, or any portion thereof and
Tenant's notice so specifies), then in addition to any other right or remedy
Tenant may have under this Lease, Tenant may, at its election, and without
further notice to Landlord, perform the repair, at Landlord's sole but
reasonable expense, subject, however, to Landlord's right to dispute any such
claim that it has failed to commence such repair and a resolution of such
dispute. Landlord shall reimburse Tenant for any amounts expended by Tenant
under this Article within ten (10) days after demand, which demand shall be
accompanied by appropriate documentation reasonably showing the cost of such
repairs or if Landlord shall fail to reimburse Tenant as aforesaid, Tenant may
offset such amount against the next accruing monthly installment(s) of Fixed
Rent. Notwithstanding anything to the contrary contained in Section 33.1 hereof,
any notice or other communication required or permitted to be given, rendered or
made by Tenant under this Section 19.3 shall be deemed to have been properly
given, rendered or made only if also deliverzd by the means described in Section
33.1(a) or (c) hereof to the office of the Building manager or the office of the
assistant Building manager, at the address set forth below:

                       Nine Metrotech Center South
                       Brooklyn, New York 11201
                       Attention: Building Manager

         19.4. Except as otherwise expressly provided in this Lease, Landlord
shall have no liability to Tenant, nor shall Tenant's covenants and obligations
under this Lease be reduced or abated in any manner whatsoever, by reason of any
inconvenience, annoyance, interruption or injury arising from Landlord's making
any repairs or changes which Landlord is required or permitted by this Lease, or
required by Legal Requirements, to make in or to the Building or any part
thereof.

                                   ARTICLE 20

                              RULES AND REGULATIONS

         20.1. Tenant and all Tenant Parties shall faithfully observe and comply
in all material respects with the rules and regulations set forth on Exhibit Q
annexed hereto and made a part hereof and such other and further reasonable
rules and regulations as Landlord, in the exercise of its reasonable business
judgment, may from time to time adopt (collectively, the "Rules and
Regulations"); provided, however, that in case of any conflict or inconsistency
between the provisions of this Lease and any of the Rules and Regulations, the
provisions of this Lease shall control.

         20.2. Landlord agrees that any amendments or additions to the Rules and
Regulations hereafter adopted by Landlord shall not materially and adversely
affect the conduct of Tenant's business in the Premises or any portion thereof
or materially and adversely impair access to the Premises, the lobby of the
Building servicing the Premises or the Building loading docks. Landlord shall
enforce the Rules and Regulations in a nondiscriminatory manner and Landlord
agrees that it shall not enforce against Tenant any Rule or Regulation that it
shall not then be enforcing against any other tenant or occupant of the Building
or otherwise impose any additional Rule or Regulation solely against Tenant
without imposing the same against other tenants or occupants of the Building.
Nothing in this Lease contained shall be construed to impose upon Landlord, any
duty or obligation to enforce the Rules and Regulations against Tenant or any
other tenants or occupants and Landlord shall not be liable to Tenant for
violation of the Rules and Regulations by any other tenant or occupant or their
respective employees, agents, invitees or licensees.

        20.3. Any dispute between Landlord and Tenant regarding amendments or
additions to the Rules and Regulations shall be resolved by arbitration pursuant
to Article 35 hereof.

                                      -65-

<PAGE>

                                   ARTICLE 21

                     COMPLIANCE WITH LAWS; MECHANIC'S LIENS

         21.1. Tenant shall give prompt notice to Landlord of any notice it
receives of the violation of any Legal Requirement applicable to the Premises.

         21.2. Tenant shall:

               (a) at Tenant's expense, comply with all Legal Requirements and
Insurance Requirements which, in respect of the Premises or the use or occupancy
thereof, and

               (b) be responsible for the costs of complying with all Legal
Requirements and Insurance Requirements which, in respect of any other part of
the Real Property,

shall impose any violation upon Landlord or Tenant or any other Person to the
extent arising from or in connection with (i) Tenant's particular use or manner
of use of the Premises, (ii) the Tenant Initial Work, Tenant Changes or Tenant's
Property or any installations, equipment or other property installed or placed
therein by or on behalf of Tenant, (iii) any cause or condition created by or at
the instance of Tenant, or (iv) any breach of any of Tenant's obligations
hereunder, whether or not such compliance requires work which is structural or
non-structural, ordinary or extraordinary, foreseen or unforeseen; and Tenant
shall pay all the costs, expenses, fines, penalties and damages which may be
imposed upon Landlord or any Superior Lessor or Mortgagee by reason of or
arising out of Tenant's failure to fully and promptly comply with and observe
the provisions of this Section 21.2. Landlord, at Landlord's cost and expense
(subject to the provisions of Article 3), shall comply with all other Legal
Requirements and Insurance Requirements with respect to the Premises, the
Building and/or the Land.

         21.3. Unless Landlord is contesting the same, Tenant, at its expense,
after notice to Landlord, may contest by appropriate proceedings prosecuted
diligently and in good faith, the validity, or applicability to the Premises,
the Building and/or the Land of any Legal Requirement with which Tenant must
comply pursuant to the terms of this Article using counsel selected by Tenant
and reasonably acceptable to Landlord, provided that (a) Landlord shall not be
subject to criminal penalty or to prosecution for a crime, nor shall the
Premises or any part thereof or the Building or the Land, or any part thereof,
be subject to being condemned or vacated, nor shall the Building or the Land, or
any part thereof, be subjected to any lien or encumbrance or threat of lien or
sale, by reason of noncompliance or otherwise by reason of such contest; (b)
Tenant shall indemnify Landlord against all liability for damages, interest,
fines, penalties and expenses (including reasonable attorneys' fees and
expenses), resulting from or incurred in connection with such contest or
noncompliance; (c) such noncompliance or contest shall not constitute or result
in any violation of any Superior Lease or Mortgage or any other agreement
affecting the Land, the Building or the Project, or if such lease and/or
mortgage shall permit such noncompliance or contest on condition of the taking
of action or furnishing of security by Landlord, such action shall be taken and
such security shall be furnished at the expense of Tenant; (d) before commencing
such contest Tenant shall deliver a surety bond issued by a surety company of
recognized responsibility or other security reasonably acceptable to Landlord,
indemnifying and protecting Landlord against any liability, loss or injury by
reason of such contest; and (e) such contest or noncompliance shall not
materially adversely affect Tenant's ability to obtain any and all Permits
required or necessary in connection with its use and occupancy of the Premises
or Landlord's ability to obtain any and all Permits required or necessary in
connection with the operation of the Building or any work to be done by other
tenants. Tenant shall keep Landlord advised as to the status of such proceedings
on a regular basis.

         21.4. All work required to be performed in the Premises pursuant to
this Article shall be performed by Tenant in accordance with Article 15 hereof.
All work required to be performed outside the Premises pursuant to this Article
shall be performed by Landlord, at Tenant's reasonable expense.

         21.5. (a) If any mechanic's, laborer's, vendor's, materialman's or
similar statutory lien shall be filed against the Premises or the Building or
any part thereof for work claimed to have been done for or for materials claimed
to have been furnished to Tenant (in connection with any Tenant Change or
otherwise) or for any other action or omission claimed to have been made

                                      -66-

<PAGE>

by Tenant, the same shall be discharged by Tenant, by either payment or by bond
or otherwise, at the sole cost of Tenant, within thirty (30) days following the
notice to Tenant of the filing of such lien, and Tenant shall provide
satisfactory proof of such discharge, to Landlord. In the event such lien is not
bonded or discharged timely as aforesaid, Landlord may discharge same for the
account of and at the expense of Tenant and Tenant shall reimburse Landlord for
all costs, disbursements, fees and expenses incurred in connection with so
bonding or discharging said lien within fifteen (15) days after demand and
receipt of reasonable evidence that such costs, disbursements, fees and expenses
have been paid. Notice is hereby given that Landlord shall not be liable for any
labor or materials furnished or to be furnished to Tenant upon credit, and that
no mechanic's lien or other lien for any such labor or materials shall attach to
or affect the reversion or other estate or interest of Landlord in and to the
Premises.

                                   ARTICLE 22

                              ESTOPPEL CERTIFICATE

         22.1. Tenant, at any time, and from time to time, upon at least (10)
Business Days' prior notice by Landlord, shall execute, acknowledge and deliver
to Landlord, the ground lessor under the Ground Lease, any Superior Lessor,
Mortgagee, prospective mortgagee, prospective purchaser of the Land, the
Building or the Ground Lease or any interest in Landlord or any member of
Landlord and/or any other similar person, firm, corporation or entity reasonably
specified by Landlord (each a "Recipient") a statement certifying that this
Lease is unmodified and in full force and effect (or, if there have been
modifications, that the same is in full force and effect as modified and stating
the modifications), stating the dates to which the Fixed Rent and Additional
Rent have been paid, stating whether or not there exist any defaults by Landlord
under this Lease known to Tenant, and, if so, specifying each such default and
stating or certifying any other matters reasonably requested by Landlord or such
Recipient in connection with this Lease.

         22.2. Landlord, at any time, and from time to time, upon at least (10)
Business Days' prior notice by Tenant, shall execute, acknowledge and deliver
to Tenant, any prospective assignee or subtenant and/or any other similar
Recipient reasonably specified by Tenant, a statement certifying that this Lease
is unmodified and in full force and effect (or, if there have been
modifications, that the same is in full force and effect as modified and stating
the modifications), stating whether or not there exist any defaults by Tenant
under this Lease known to Landlord, and, if so, specifying each such default and
stating or certifying any other matters reasonably requested by Tenant or
Recipient in connection with this Lease.

                                   ARTICLE 23

                                    HOLDOVER

         23.1. The parties recognize and agree that the damage to Landlord
resulting from any failure by Tenant to timely surrender possession of the
Premises upon the expiration or other termination of the Term will be
substantial, will exceed the amount of the monthly installments of the Fixed
Rent and the Additional Rent theretofore payable hereunder and will be
impossible to accurately measure. Tenant therefore agrees that if possession of
the Premises is not surrendered to Landlord within twenty-four (24) hours after
the Expiration Date, in addition to any other rights or remedies Landlord may
have hereunder or at law, Tenant shall pay to Landlord for each month and for
each portion of any month during which Tenant holds over in the Premises after
the Expiration Date, a sum equal to the greater of (a) one and one-half (1 1/2)
times the aggregate of that portion of the Fixed Rent and all of the Additional
Rent which was payable under this Lease for the last full calendar month of the
Term, and (b) the then fair market value of the Premises, as reasonably
determined by Landlord. Nothing herein contained shall be deemed to permit
Tenant to retain possession of the Premises after the Expiration Date and no
acceptance by Landlord of payments from Tenant after the Expiration Date shall
be deemed to be other than on account of the amount to be paid by Tenant in
accordance with the provisions of this Article. Tenant's obligations under this
Article shall survive the expiration or earlier termination of this Lease.
Tenant expressly waives, for itself and for any person claiming through or under
Tenant, any rights which Tenant or any such person may have under the provisions
of Section 2201 of the New York Civil Practice Law and Rules and of any
successor law of like import then in force in connection with any holdover
summary proceedings which Landlord may institute to enforce the foregoing
provisions of this Article.

                                      -67-

<PAGE>

         23.2. If Tenant shall hold over or remain in possession of any portion
of the Premises beyond the Expiration Date, Tenant shall be subject to summary
proceeding and all damages related thereto. All damages to Landlord by reason of
such holding over by Tenant may be the subject of a separate action and need
not be asserted by Landlord in any summary proceedings against Tenant.

                                   ARTICLE 24

                            CONDITIONS OF LIMITATION

         24.1. This Lease and the term and estate hereby granted are subject to
the limitation that (a) whenever Tenant or any Guarantor shall make an
assignment for the benefit of creditors or shall file a voluntary petition under
any bankruptcy or insolvency law, or (b) whenever an involuntary petition shall
be filed or an involuntary proceeding shall be commenced against Tenant or any
Guarantor, or (c) whenever a permanent receiver of Tenant, Guarantor or of or
for the property of Tenant or Guarantor, shall be appointed, then Landlord (i)
if such event occurs without the acquiescence of Tenant or Guarantor, as the
case may be, at any time after the event continues for one hundred twenty (120)
days, or (ii) in any other case at any time after the occurrence of such event,
may give Tenant a notice of intention to end the Term at the expiration of five
(5) days from the date of service of such notice of intention, and upon the
expiration of said five (5) day period, this Lease and the Term and estate
hereby granted, whether or not the Term shall theretofore have commenced, shall
terminate with the same effect as if that day were the Expiration Date of this
Lease, but Tenant shall remain liable for damages as provided in Article 26. As
used in this Section 24.1, the term "bankruptcy or insolvency law" shall include
the reorganization or arrangement or compromise provisions thereof.

         24.2. This Lease and the Term and estate hereby granted are subject to
the further limitations that if any of the following events shall occur (an
"Event of Default"):

               (a) Tenant shall fail to pay any of the Fixed Rent or the
Additional Rent within five (5) days after notice from Landlord stating that
such Rent is due, or

               (b) Tenant shall, whether by action or inaction, fail to perform
any of its obligations under this Lease (other than a default in the payment of
the Fixed Rent or the Additional Rent) and such default shall continue and not
be remedied as soon as practicable and in any event within thirty (30) days
after Landlord shall have given to Tenant a notice specifying the same, or, in
the case of a default which cannot with due diligence be cured within a period
of thirty (30) days and the continuance of which for the period required for
cure will not (i) subject Landlord or any Superior Lessor or any Mortgagee to
prosecution for a crime or any other tine or charge, (ii) subject the Premises
or any part thereof or the Building or Land, or any part thereof, to being
condemned or vacated, (iii) subject the Building or the Land, or any part
thereof, to any lien or encumbrance which will not be removed and discharged in
accordance with the express terms of this Lease, or (iv) result or be likely to
result in the termination of any Superior Lease or foreclosure of any Mortgage,
if Tenant shall not (x) within said thirty (30) day period acknowledge the
existence of such default and advise Landlord of Tenant's intention to take all
steps necessary to remedy such default, (y) duly commence within said thirty
(30) day period and thereafter diligently prosecute to completion all steps
necessary to remedy the default and (z) complete such remedy within a reasonable
time after the date of said notice to Tenant, or

               (c) Tenant shall abandon the Premises (and the fact that any of
Tenant's Property) remains in the Premises shall not be conclusive evidence that
Tenant has not abandoned the Premises), or

               (d) a default shall occur and continue beyond any applicable
grace or cure period, if any, under any guaranty executed and delivered on
behalf of Tenant in connection with or with respect to this Lease,

then in any of said cases Landlord may give to Tenant a notice of intention to
end the Term of this Lease at the expiration of five (5) days from the date of
the service of such notice of intention, and upon the expiration of said five
(5) days this Lease and the Term and estate hereby granted, whether or not the
Term shall theretofore have commenced, shall terminate with the same effect as
if that day was the day herein definitely fixed for the end and expiration of
this Lease, but Tenant shall remain liable for damages as provided in Article
26.

                                      -68-

<PAGE>

         24.3. Nothing in this Article 24 shall be deemed to require Landlord to
give the notices therein provided for prior to the commencement of a summary
proceeding for nonpayment of rent or a plenary action for recovery of rent on
account of any default in the payment of the same it being intended that such
notices are for the sole purpose of creating a conditional limitation hereunder
pursuant to which this Lease shall terminate and if Tenant thereafter remains in
possession after such a termination it shall do so as a holdover tenant.

         24.4. (a) If Tenant shall have assigned its interest in this Lease, and
this Lease shall thereafter be disaffirmed or rejected in any proceeding under
the United States Bankruptcy Code or under the provisions of any Federal, state
or foreign law of like import, or in the event of termination of this Lease by
reason of any such proceeding, the assignor or any of its predecessors in
interest under this Lease, upon request of Landlord given within ninety (90)
days after such disaffirmance or rejection shall (i) pay to Landlord all of the
Fixed Rent and the Additional Rent then due and payable to Landlord under this
Lease to and including the date of such disaffirmance or rejection and (ii)
enter into a new lease as lessee with Landlord of the Premises for a term
commencing on the effective date of such disaffirmance or rejection and ending
on the Expiration Date at the same Fixed Rent and Additional Rent and upon the
then executory terms, covenants and conditions as are contained in this Lease,
except that the rights of the lessee under the new lease shall be subject to any
possessory rights of the assignee in question under this Lease and any rights of
person claiming through or under such assignee, (y) such new lease shall require
all defaults existing under this Lease to be cured by the lessee with reasonable
diligence to the extent such defaults are capable of being cured, and (z) such
new lease shall require the lessee to pay all of the Additional Rent which, had
this Lease not been disaffirmed or rejected, would have become due after the
effective date of such disaffirmance or rejection with respect to any prior
period. If the lessee shall fail or refuse to enter into the new lease within
ten (10) days after the Landlord's request to do so, then in addition to all
other rights and remedies by reason of such default under this Lease, at law, or
in equity, Landlord shall have the same rights and remedies against the lessee
as if the lessee had entered into such new lease and such new lease had
thereafter been terminated at the beginning of its term by reason of the default
of the lessee thereunder.

               (b) If pursuant to the Bankruptcy Code Tenant is permitted to
assign this Lease in disregard of the restrictions contained in Article 7 (or if
this Lease shall be assumed by a trustee), the trustee or assignee shall cure
any default under this Lease and shall provide adequate assurance of future
performance by the trustee or assignee including (i) of the source of payment of
rent and performance of other obligations under this Lease (for which adequate
assurance shall mean the deposit of security reasonably satisfactory to Landlord
with Landlord in an amount equal to the sum of six (6) calendar months' Fixed
Rent then reserved hereunder plus an amount equal to all of the Additional Rent
payable under Article 3 and other provisions of this Lease for the six (6)
calendar months preceding the year in which such assignment is intended to
become effective, which deposit shall be held by Landlord, in an interest
bearing account, for the balance of the Term as security for the full and
faithful performance of all of the obligations under this Lease on the part of
Tenant yet to be performed and that any such assignee of this Lease shall have a
net worth exclusive of good will computed in accordance with generally accepted
accounting principles, equal to at least five (5) times the aggregate of the
annual Fixed Rent reserved hereunder plus all of the Additional Rent for the
preceding calendar year as aforesaid) and (ii) that the use of the Premises
shall in no way diminish the reputation of the Building as a first-class office
building or impose any additional burden upon the Building or increase (other
than to a de minimis extent) the services to be provided by Landlord. If all
defaults are not cured and such adequate assurance is not provided within sixty
(60) days after there has been an order for relief under the Bankruptcy Code (or
such longer period of up to one hundred twenty (120) days as the bankruptcy
court will permit), then this Lease shall be deemed rejected. Tenant or any
other person in possession shall vacate the Premises, and Landlord shall be
entitled to retain any rent or security deposit previously received from Tenant
and shall have no further liability to Tenant or any person claiming through
Tenant or any trustee. If Tenant received or is to receive any valuable
consideration for such an assignment of this Lease, such consideration, after
deducting therefrom (A) the brokerage commissions, reasonable attorneys' fees
and disbursements and advertising expenses actually paid by Tenant to
independent third parties in connection with such assignment, (B) the amount of
any transfer gains or similar taxes payable by Tenant by reason of such
assignment, and (C) any portion of such consideration reasonably designated by
the assignee as paid for the purchase of Tenant's Property in the Premises,
shall, to the extent of any losses suffered by Landlord hereunder (i.e., the
failure of

                                      -69-

<PAGE>

Landlord to receive the benefits to which Landlord is or may be entitled under
the terms of this Lease, including, without limitation, all accrued but unpaid
Rent under this Lease or interest on any amounts not paid when due hereunder),
be and become the sole and exclusive property of Landlord and shall be paid over
to Landlord directly by such assignee.

               (c) If Tenant's trustee, Tenant or Tenant as debtor-in-possession
assumes this Lease and proposes to assign the same (pursuant to Title 11 U.S.C.
Section 365, as the same may be amended) to any Person, including, without
limitation, any individual partnership or corporate entity, who shall have made
a bona fide offer to accept an assignment of this Lease on terms acceptable to
the trustee, Tenant or Tenant as debtor-in-possession, then notice of such
proposed assignment, setting forth (i) the name and address of such Person, (ii)
all of the terms and conditions of such offer, and (iii) the adequate assurance
to be provided Landlord to assure such Person's future performance under the
lease, including, without limitation, the assurances referred to in Title 11
U.S.C. Section 364(b)(3) (as the same may be amended), shall be given to
Landlord by the trustee, Tenant or Tenant as debtor-in-possession no later than
twenty (20) days after receipt by the trustee, Tenant or Tenant as
debtor-in-possession of such offer, but in any event no later than ten (10) days
prior to the date that the trustee, Tenant or Tenant as debtor-in-possession
shall make application to a court of competent jurisdiction for authority and
approval to enter into such assignment and assumption, and Landlord shall
thereupon have the prior right and option, to be exercised by notice to the
trustee, Tenant or Tenant as debtor-in-possession, given at any time prior to
the effective date of such proposed assignment, to accept an assignment of this
Lease upon the same terms and conditions and for the same consideration, if any,
as the bona fide offer made by such Person, less any brokerage commissions which
may be payable out of the consideration to be paid by such Person for the
assignment of this Lease.

         24.5. Tenant, on behalf of itself and any and all persons claiming
through or under Tenant, does hereby waive and surrender all right and privilege
which it, they or any of them might have under or by reason of any present or
future law, to redeem the Premises or to have a continuance of this Lease after
being dispossessed or ejected therefrom by process of law or under the terms of
this Lease or after the termination of this Lease as provided in this Lease.

                                   ARTICLE 25

                               REENTRY BY LANDLORD

         25.1. If this Lease shall terminate as provided in Article 24,

               (a) Landlord or Landlord's agents or employees may immediately or
at any time thereafter reenter the Premises, or any part thereof, either by
summary dispossess proceedings or by any other suitable action or proceeding at
law or otherwise (without being liable to indictment, prosecution or damages
therefore) and may repossess the same and dispossess Tenant and any other
person(s) from the Premises and may remove Tenant or any and all of their
property and effects therefrom, without liability for damages thereto or
accountability therefore to the end that Landlord may have, hold and enjoy the
Premises, provided however, in no event, shall any such reentry be deemed an
acceptance of surrender under this Lease; and

               (b) Landlord, at its option, may relet the whole or any
portion(s) of the Premises from time to time, either in the name of Landlord or
otherwise, to such tenant or tenants, for such term or terms ending before, or
on or after the date originally provided herein as the Expiration Date, at such
rentals and upon such other conditions, which may include concessions and free
rent period, as Landlord in its sole discretion may reasonably determine.
Landlord shall have no obligation to relet the Premises or any portion thereof
and shall in no event be liable for refusal or failure to relet the Premises or
any portion thereof or, in the event of any such reletting, for failure to
collect any rent due upon such reletting, and no such refusal or failure shall
operate to release or relieve Tenant from any liability under this Lease or
otherwise to affect such liability. Further, Landlord may make such repairs,
improvements, alterations, additions, decorations and other physical changes in
and to the Premises as Landlord in its sole discretion considers reasonably
advisable or necessary in connection with any such reletting or proposed
reletting, without releasing or relieving Tenant from any liability under this
Lease or otherwise affecting any such liability, provided, however, if Landlord
shall make any repairs, improvements, alterations, additions, decorations or
other physical changes in and to the Premises in connection with such reletting
or proposed reletting which are of a standard greater than the standard which
existed in the Premises immediately prior to the date of reentry or the

                                      -70-

<PAGE>

termination of this Lease, then Tenant shall not be liable for the increased
costs of such repairs, improvements, alterations, additions, decorations or
other physical changes.

         The word "reenter" (and grammatical variants thereof) as used herein,
is not restricted to its technical legal meaning. If this Lease is terminated
under the provisions of Article 24, or if Landlord shall reenter the Premises
under the provisions of this Article, or in the event of the termination of this
Lease, or reentry, by or under any summary dispossess or other proceeding or
action or any provision of law by reason of default hereunder on the part of
Tenant, Tenant shall thereupon pay to Landlord the Fixed Rent and the Additional
Rent payable up to the time of such termination of this Lease or of such
recovery of possession of the Premises by Landlord, as the case may be, and
shall also pay to Landlord damages as provided in Article 26.

         25.2. In the event of a breach or threatened breach (if threatened in
writing) by Tenant of any of its obligations under this Lease, Landlord shall
also have the right of injunction. The special remedies to which Landlord may
resort hereunder are cumulative and are not intended to be exclusive of any
other remedies to which Landlord may lawfully be entitled at any time and
Landlord may invoke any remedy allowed at law or in equity as if specific
remedies were not provided for herein.

         25.3. If this Lease shall terminate under the provisions of Article 24,
or if Landlord shall reenter the Premises under the provisions of this Article,
or in the event of the termination of this Lease, or of reentry, by or under any
summary dispossess or other proceeding or action or any provision of law by
reason of default hereunder on the part of Tenant, Landlord shall be entitled to
retain all monies, if any, paid by Tenant to Landlord, whether as advance rent,
security or otherwise, but such monies shall be credited by Landlord against any
of the Fixed Rent or the Additional Rent due from Tenant at the time of such
termination or reentry or, at Landlord's option, against any damages payable by
Tenant under Article 26 or pursuant to law.

                                   ARTICLE 26

                                     DAMAGES

         26.1. If this Lease is terminated under the provisions of Article 24,
or if Landlord shall reenter the Premises under the provisions of Article 25, or
in the event of the termination of this Lease, or of reentry, by or under any
summary dispossess or other proceeding or action or any provision of law by
reason of default hereunder on the part of the Tenant, Tenant shall pay to
Landlord as damages, at the election of Landlord, either:

               (a) a sum which at the time of such termination of this Lease or
at the time of any such reentry by Landlord, as the case may be, represents the
then value of the excess, if any, of (i) the aggregate amount of the Fixed Rent
and the Additional Rent which would have been payable by Tenant (conclusively
presuming the average monthly Additional Rent to be the same as was payable for
the last twelve (12) calendar months, or if less than twelve (12) calendar
months have then elapsed since the Rent Commencement Date, for all of the
calendar months which have elapsed since the Rent Commencement Date) for the
period commencing with such earlier termination of this Lease or the date of
any such reentry, as the case may be, and ending with the date contemplated as
the Expiration Date if this Lease had not so terminated or if Landlord had not
so reentered the Premises, over (ii) the aggregate rental value of the Premises
for the same period, both discounted to present value at a rate per annum equal
to the then current interest rate on U.S. Treasury bills having maturities
approximating as closely as practicable the balance of the Term then remaining,
less any amount collected by Landlord as damages hereunder as Rent for the same
period; or

               (b) sums equal to the Fixed Rent and the Additional Rent which
would have been payable by Tenant had this Lease not so terminated, or had
Landlord not so reentered the Premises, payable upon the due dates therefor
specified herein following such termination or such reentry and until the date
contemplated as the Expiration Date if this Lease had not so terminated or if
Landlord had not so reentered the Premises, provided, however, that if Landlord
shall relet the Premises during said period, Landlord shall credit Tenant with
the net rents received by Landlord from such reletting, such net rents to be
determined by first deducting from the gross rents as and when received by
Landlord from such reletting the expenses incurred or paid by Landlord in
terminating this Lease or in reentering the Premises and in securing possession
thereof, as well as the reasonable expenses of reletting, including, without
limitation,

                                      -71-

<PAGE>

altering and preparing the Premises for new tenants, reasonable brokers'
commissions, legal fees and all other reasonable expenses properly chargeable
against the Premises and the rental therefrom, it being understood that any
such reletting may be for a period shorter or longer than the remaining Term,
but in no event shall Tenant be entitled to receive any excess of such net
rents, over the sums payable by Tenant to Landlord hereunder, nor shall Tenant
be entitled in any suit for the collection of damages pursuant to this
subdivision to a credit in respect of any net rents from a reletting, except to
the extent that such net rents are actually received by Landlord. If the
Premises or any part thereof should be relet in combination with other space,
then proper apportionment on a rentable square foot basis shall be made of the
rent received from such reletting and of the expenses of reletting.

         Supplementing the foregoing, (i) if this Lease is terminated under the
provisions of Article 24, or (ii) if Landlord shall reenter the Premises under
the provisions of Article 25, or (iii) in the event of the termination of this
Lease, or of reentry, by or under any summary dispossess or other proceeding or
action or any provision of law by reason of default hereunder on the part of the
Tenant, or (iv) if Tenant is in default of its obligation under Section
1.3(a)(iv) hereof, then, in any such event, (a) Landlord shall have the right to
draw down the Letter of Credit pursuant to Article 43, (b) the aggregate Fixed
Rent described in Section 1.3 (a)(iv) shall be accelerated, and Tenant shall pay
to Landlord the excess of any portion of the Fixed Rent described in Section
1.3(a)(iv) then payable for the balance of the Term over the proceeds drawn from
the Letter of Credit, and (iii) Tenant shall pay to Landlord an amount equal to
any breakage fee incurred by Landlord in connection with the Tenant Initial Work
Allowance Proceeds (including, without limitation and by way of example, yield
maintenance fees due in connection with any hedge instrument).

         If this Lease is terminated for Tenant's default prior to the
Commencement Date, then for the purposes of this Article 26, this Lease shall
be deemed to have commenced on the day prior to the date of such termination.

         If the Premises or any part thereof be relet by Landlord for the
unexpired portion of the Term, or any part thereof, before presentation of proof
of such damages to any court, commission or tribunal the amount of rent reserved
upon such reletting shall, prima facie, be the fair and reasonable rental value
for the Premises, or part thereof, so relet during the term of the reletting.
Landlord shall not be liable in any way whatsoever for its failure or refusal to
relet the Premises or any part thereof, or if the Premises or any part thereof
are relet, for its failure to collect the rent under such reletting after
reasonable efforts to do so, and no such refusal or failure to relet or failure
to collect rent so shall release or affect Tenant's liability for damages or
otherwise under this Lease.

         26.2. Suit or suits for the recovery of such damages, or any
installments thereof, may be brought by Landlord from time to time at its
election, and nothing contained herein shall be deemed to require Landlord to
postpone suit until the date when the Term would have expired if it had not been
so terminated under the provisions of Article 24, or had Landlord not reentered
the Premises. Nothing herein contained shall be construed to limit or preclude
recovery by Landlord against Tenant or any sums or damages to which, in addition
to the damages particularly provided above, Landlord may lawfully be entitled
by reason of any default hereunder on the part of Tenant. Nothing herein
contained shall be construed to limit or prejudice the right of Landlord to
provide for and obtain as damages by reason of the termination of this Lease or
reentry on the Premises for the default of Tenant under this Lease an amount
equal to the maximum allowed by any statute or rule of law in effect at the time
when, and governing the proceedings in which, such damages are to be proved
whether or not such amount be greater than any of the sums referred to in
Section 26.1.

         26.3. In addition, if this Lease is terminated under the provisions of
Article 24, or if Landlord shall reenter the Premises under the provisions of
Article 25, Tenant agrees that:

               (a) the Premises then shall be in the condition in which Tenant
has agreed to surrender the same to Landlord at the expiration of the term
hereof;

               (b) Tenant shall have performed prior to any such termination any
covenant of Tenant contained in this Lease for the making of any Tenant
Changes or for restoring or rebuilding the Premises or any part thereof; and

                                      -72-

<PAGE>

               (c) for the breach of any covenant of Tenant set forth in this
Section 26.3, Landlord shall be entitled immediately, without notice or other
action by Landlord, to recover, and Tenant shall pay as damages therefor, the
reasonable cost of performing such covenant (as reasonably estimated by an
independent contractor selected by Landlord).

                                   ARTICLE 27

                             LEGAL RENT RESTRICTION

         27.1. If on the Rent Commencement Date, or at any time during the Term,
the Fixed Rent or the Additional Rent reserved in this Lease is not fully
collectible by reason of any Legal Requirement establishing, limiting or
regulating rents or increases therein (a "legal rent restriction"), Tenant
agrees to take such steps as Landlord may reasonably request to permit Landlord
to collect the maximum rents which may be legally permissible from time to time
during the continuance of such legal rent restriction (but not in excess of the
amounts reserved therefor under this Lease). Upon the termination of such legal
rent restriction, Tenant shall pay to Landlord to the extent permitted by Legal
Requirements, an amount equal to (a) the Rent which would have been paid
pursuant to this Lease but for such legal rent restriction, less (b) the Rent
paid by Tenant to Landlord during the period such legal rent restriction was in
effect.

                                   ARTICLE 28

                                    SURRENDER

         28.1. On the Expiration Date or upon any reentry by Landlord upon the
Premises, Tenant shall quit and surrender the Premises to Landlord "broom-clean"
and in good order, condition and repair, except for ordinary wear and tear and
such damage or destruction as Landlord is required to repair or restore under
this Lease, and Tenant shall remove all of Tenant's Property therefrom except as
otherwise expressly provided in Sections 15.1(c) and 18.2.

         28.2. On or prior to the Expiration Date, Tenant shall remove those
Tenant Changes which Tenant is required to remove pursuant to Section 15.1(c)
hereof, restore all damage caused by such removal and restore the portion of the
Premises affected by such restoration as required by Section 28.1 above.

         28.3. No act or thing done by Landlord or its agents shall be deemed an
acceptance of a surrender of the Premises, and no agreement to accept such
surrender shall be valid unless in writing and signed by Landlord.

         28.4. If Landlord or Landlord's managing, rental or other agent accepts
from Tenant one or more keys to the Premises in order to assist Tenant in
showing the Premises for subletting or other disposition or for the performance
of work therein for Tenant or for any other purpose, the acceptance of such key
or keys shall not constitute an acceptance of a surrender of the Premises nor a
waiver of any of Landlord's rights or Tenant's obligations under this Lease
including, without limitation, the provisions relating to assignment and
subletting and the condition of the Premises.

                                   ARTICLE 29

              CURING TENANT'S DEFAULTS; CURING LANDLORD'S DEFAULTS

         29.1. If Tenant shall be in default, other than for reasons of force
majeure, in the observance or performance of any term, covenant or condition of
this Lease on Tenant's part to be observed or performed, Landlord may, without
thereby waiving such default and without liability, to Tenant in connection
therewith, remedy such default for the account of Tenant, upon at least thirty
(30) day's prior notice to Tenant (or immediately and without notice (a) to the
extent the giving of notice shall be impracticable, (b) if this Lease shall have
expired or been terminated, and (c) in any other case when Tenant shall fail to
remedy such default after notice by Landlord and the expiration of any other
applicable grace period hereunder). If Landlord makes any expenditures, incurs
any reasonable obligations for the payment of money in connection therewith, or
sustains or incurs any damages or fines, due to such non-observance or
non-performance by Tenant, including, but not limited to, attorneys' fees and
disbursements in instituting, prosecuting or defending any action or proceeding,
such reasonable sums paid or

                                      -73-

<PAGE>

obligations, damages and fines sustained or incurred, together with interest at
the Interest Rate and costs, shall be paid by Tenant to Landlord, as Additional
Rent, within ten (10) days of rendition of any statement to Tenant therefor
together with documentation reasonably evidencing such sums, obligations and
fines.

         29.2. Subject to the applicable provisions of any Superior Lease, any
Mortgage and the rights of any guarantor of Landlord's obligations hereunder,
and without limiting any rights of Tenant set forth in Section 8.3(a), if
Landlord shall be in default, other than for reasons of force majeure, in the
observance or performance of any term, covenant or condition of this Lease on
Landlord's part to be observed or performed (excluding, however, performance of
the Base Building Work except as otherwise expressly provided in Section
16.l(c)(iii)), Tenant may, without thereby waiving such default and without
liability to Landlord in connection therewith, remedy such default for the
account of Landlord upon at least thirty (30) days' prior notice to Landlord or,
in the event such non-performance impairs or is imminently likely to impair
structural support of the Building or causes or is imminently likely to cause
bodily injury to Tenant's employees, contractors or visitors to the Premises,
physical damage to the Premises, physical damage to Tenant's dedicated equipment
located in the Building but outside the Premises, or severe economic loss to
Tenant, then such notice as is reasonable under the circumstances. If Tenant
makes any expenditures, incurs any reasonable obligations for the payment of
money in connection therewith, or sustains or incurs any damages or fines, due
to such non-observance or non-performance by Landlord, including, but not
limited to, attorneys' fees and disbursements in instituting, prosecuting or
defending any action or proceeding, such reasonable sums paid or obligations,
damages and fines sustained or incurred, together with interest at the Interest
Rate and costs, shall be, at Tenant's election, either paid by Landlord to
Tenant or applied as a credit against the next installment of Fixed Rent, within
ten (10) days of rendition of any statement to Landlord therefor together with
documentation reasonably evidencing such sums, obligations and fines.

                                   ARTICLE 30

                              DAMAGE OR DESTRUCTION

         30.1. Except as otherwise expressly provided herein, if the Building or
the Premises shall be partially or totally damaged or destroyed by fire or other
casualty (and if this Lease shall not be terminated as in this Article 30
hereinafter provided), Landlord shall repair the damage. to and re: tore and
rebuild the Building and the Premises, including the Tenant Initial Work and any
Tenant Changes (except for Tenant's Property and except for any fit-out work
done for any other tenant) promptly and with reasonable diligence, after notice
to it or actual knowledge by it of the damage: or destruction, to a condition
substantially equivalent to the extent practicable (with respect to character,
quality, utility and appearance) to that which existed immediately prior to such
damage. To the extent insurance proceeds are not sufficient to restore, repair
or replace the Special Initial Work and the Special Tenant Changes by reason of
Tenant's failure to notify Landlord or to properly estimate the Insurable Value
with respect to any Special Tenant Change or Special Initial Work or by reason
of Tenant's request that Landlord no longer insure the Special Initial Work and
the Special Tenant Changes, Landlord shall notify Tenant of such insufficiency
and Landlord shall have no obligation to restore, repair or replace such Special
Initial Work and Special Tenant Changes unless prior to the commencement of such
restoration, repair or replacement, Tenant shall pay to Landlord as Additional
Rent the additional amount required in Landlord's reasonable judgment to perform
same. Tenant shall be responsible for any portion of the deductible amounts
under insurance policies covering such damage or destruction allocable, in
Landlord's reasonable judgment, to the Special Tenant Changes and the Special
Initial Work. If and to the extent Landlord's estimate of the amount of such
shortfall is greater than the actual amount by which the insurance proceeds were
insufficient, Landlord shall reimburse Tenant for any excess monies so funded by
Tenant.

         30.2. Tenant shall give Landlord immediate notice of the occurrence of
any fire or other casualty affecting all or any part of the Premises. Subject
to the provisions of Section 30.6, if on account of any fire or other casualty
all or part of the Premises shall be untenantable or inaccessible by reason of
any damage or destruction required by this Lease to be repaired or restored by
Landlord, the Fixed Rent and the Additional Rent under Article 3 shall be abated
in the proportion that the untenantable or inaccessible area of the Premises
bears to the total area of the Premises, for the period from the date of the
fire or other casualty to the later of (a) the date the damage or destruction so
required to be repaired or restored by Landlord has been

                                      -74-

<PAGE>

Substantially Completed for Restoration Purposes (provided, however, that if in
Landlord's reasonable judgment such repairs or restoration would have been
Substantially Completed for Restoration Purposes at an earlier date but for
Tenant's having failed to cooperate reasonably with Landlord in effecting the
same after notice and a reasonable opportunity to cure the failure to cooperate
reasonably, then such damage or destruction shall be deemed to have been
Substantially Completed for Restoration Purposes on such earlier date) and (b)
the Premises are accessible and tenantable (except to the extent Landlord is not
obligated to repair or restore Special Tenant Changes or Special Initial Work
pursuant to Section 30.1); provided, however, should Tenant reoccupy a portion
of the Premises for the conduct of its business prior to the aforesaid date, the
Fixed Rent and the Additional Rent under Article 3 shall be reinstated with
respect to such reoccupied portion of the Premises and shall be payable by
Tenant from the date of such occupancy. As used in this Article 30, the terms
"Substantially Completed for Restoration Purposes" and "Substantial Completion
of Restoration" shall mean the date on which the applicable work shall have been
completed, except for applicable work which is minor in nature and does not
adversely affect in any material respect the use and occupancy of the Premises
for such uses permitted under Article 2 hereof which Tenant was using the
Premises for immediately prior to such damage or destruction and except for
portions of such work which under good construction scheduling practices are
normally performed after any portion of still uncompleted repair or restoration
work of Tenant.

         30.3. If (a) the Building shall be totally damaged or destroyed by fire
or other casualty, or (b) at least fifty percent (50%) of the Building shall be
so damaged or destroyed by fire or other casualty (whether or not the Premises
are damaged or destroyed) that in Landlord's reasonable opinion, either
demolition or reconstruction of the Building shall be required or the
Building, after its repair, alteration or restoration would not be economically
viable as a first-class office building (either of the foregoing "substantially
damaged"), then in any such case Landlord may terminate this Lease by giving
Tenant notice to such effect within thirty (30) days after the date of the
casualty, provided that Landlord shall terminate all other leases for office
space in the Building which are terminable by reason of such casualty.

         30.4. Notwithstanding anything to the contrary contained herein, if the
Building or the Premises shall be substantially damaged or destroyed by fire or
other cause at any time during the last two (2) years of the Term or of either
Extension Term then either Landlord or Tenant may cancel this Lease upon notice
to the other party hereto given within sixty (60) days after such damage or
destruction.

         30.5. Except as otherwise expressly set forth herein, Tenant shall not
be entitled to terminate this Lease and Landlord shall have no liability to
Tenant for inconvenience, loss of business or annoyance arising from repair or
restoration of the Premises or the Building or any portion of either pursuant to
this Article. Landlord shall use reasonable efforts to make such repair or
restoration promptly and in such manner as not unreasonably to interfere with
Tenant's use and occupancy of the Premises, but Landlord shall not be required
to do such repair or restoration work except during Business Hours, provided,
however, Landlord shall perform all such repairs in a good and workmanlike
manner and shall promptly repair any damage to the Premises caused in the making
of such repairs.

         30.6. (a) Within sixty (60) days after the occurrence of a casualty as
set forth in Section 30.1 hereof, Landlord shall deliver a statement prepared by
a licensed professional engineer selected by Landlord (who shall be reasonably
satisfactory to Tenant) setting forth such engineer's estimate of the time
required for the repair or restoration of such damage or destruction (excluding
the Special Tenant Work and the Special Initial Work) in accordance with normal
good construction practice (i.e., without the use of overtime). If such
statement shall show that the estimated time required for the repair or
restoration of such damage (excluding the Special Tenant Changes, the Special
Initial Work and Long Lead Work, as hereinafter defined) is more than one
hundred eighty (180) days from the date of such estimate, then Tenant may
terminate this Lease by giving Landlord notice to such effect within thirty (30)
days after Tenant receives the statement of such engineer. If Tenant shall
timely give such notice of termination, this Lease shall terminate on the date
which shall be sixty (60) days after Tenant's giving of such notice (unless this
Lease is required by any Legal Requirement to terminate earlier or Landlord in
its good faith judgment intends to commence any repair or restoration of the
Building or the Premises, including, without limitation, any demolition of all
or any portion thereof required in connection with such repair or restoration,
in which case this Lease shall terminate on the date

                                      -75-

<PAGE>

which shall be thirty (30) days after the giving of such notice) and the Rent
and the Additional Rent under Article 3 shall be paid and apportioned to the
date of such termination.

               (b)  If Tenant shall not exercise its option to terminate this
Lease as provided in Section 30.6(a), or if Tenant is not entitled to terminate
this Lease pursuant to Section 30.6(a), and the repair or restoration (excluding
the Special Tenant Changes, the Special Initial Work and Long Lead Work) to be
performed by Landlord is not Substantially Completed for Restoration Purposes by
Landlord within fifteen (15) months after Landlord's engineer's estimate,
subject to extensions in the aggregate for Tenant Restoration Delays and force
majeure, then Tenant may terminate this Lease, by giving notice to Landlord not
later than ten (10) Business Days following the expiration of such fifteen (15)
month period, as the same may be extended for Tenant Restoration Delays and
force majeure as aforesaid. If Tenant exercises such option to terminate this
Lease then this Lease shall terminate on the date which shall be sixty (60) days
after the giving of such notice (unless this Lease is required by any Legal
Requirement to terminate earlier) and the Fixed Rent and the Additional Rent
under Article 3 shall be paid and apportioned to the date of such termination.

               (c)  Landlord shall complete the construction and installation of
the Special Tenant Changes, the Special Initial Work and any Landlord repair or
restoration work which under good construction scheduling practices would
normally be performed after any portion of still uncompleted repair or
restoration work of Tenant, within a reasonable period of time after the
occurrence of the casualty as set forth in Section 30.1 hereof in accordance
with good construction practice in the City, except as otherwise provided in
Section 30.1.

               (d)  The notice of Landlord's licensed professional engineer
referred to in Section 30.6(a) shall also specify those items which are Long
Lead Work. Tenant may, by notice to Landlord given within thirty(30) days after
receipt of notice from such engineer, specify with respect to the Premises items
or materials which do not constitute Long Lead Work to be substituted for such
Long Lead Work provided that such substitution (i) shall not increase the cost
of such repairs or restoration unless Tenant shall agree to pay any such
incremental cost increase, (ii) is comparable in quality and (iii) does not
impair the structural integrity of the Building, the Building systems or the
Building exterior. If Tenant shall not elect to substitute items or materials
which do not constitute Long Lead Work for Long Lead Work items, then promptly
following the expiration of said thirty (30) day period (or if Tenant shall
notify Landlord that it shall not elect to substitute items or materials which
do not constitute Long Lead Work for Long Lead Work items prior to the
expiration of said thirty (30) day period, then promptly following Landlord's
receipt of such notice), Landlord shall order such Long Lead Work.
Notwithstanding anything to the contrary contained herein, Landlord shall
complete the construction and installation of such Long Lead Work within a
reasonable period after obtaining such items.

               (e)  As used herein, the following terms shall have the following
meanings ascribed thereto:

               (i)  "Long Lead Work" shall mean any item of work, materials
and/or equipment which, in Landlord's reasonable judgment, must be specially
manufactured, fabricated and/or installed, or which is difficult to obtain and
generally requires a long lead delivery time or which is of an exceptionally
unusual or uncommon nature.

               (ii) "Tenant Restoration Delays" shall mean any delay in
performing repair or restoration work suffered by Landlord as a direct result of
any act, neglect, failure or omission of Tenant or any Tenant Party.

         30.7. Upon completion of the repair and restoration of the Building as
required in Section 30.1 after the Building shall have been substantially
damaged, any excess insurance proceeds shall be shared equally by Landlord and
Tenant provided (i) no monetary Event of Default is then existing and (ii)
Tenant shall have satisfied its shortfall funding obligations, if any, pursuant
to Section 30.1.

         30.8. The provisions of this Article shall be deemed an express
agreement governing any case of damage or destruction of the Premises by fire or
other casualty, and Section 227 of the Rea1 Property Law of the State of New
York, providing for such contingency in the absence

                                      -76-

<PAGE>

of an express agreement, and any other law of like import, now or hereafter in
force, shall have no application in such case.

                                   ARTICLE 31

                                 EMINENT DOMAIN

       31.1. (a) In the event that all of the Building or all of the Premises
shall be lawfully condemned or taken in any manner for any public or
quasi-public use, this Lease and the Term and estate hereby granted shall
forthwith cease and terminate as of the date of vesting of title.

             (b) In the event that a "material part" of the Building shall be so
condemned or taken then Landlord (whether or not the Premises are affected) may
terminate this Lease and the Term and estate hereby granted as of the date of
such vesting of title by notifying Tenant in writing of such termination within
sixty (60) days following the date on which Landlord shall have received notice
of vesting of title provided that Landlord shall terminate all leases of space
in the Building which are terminable by reason of such taking. If Landlord does
not elect to terminate this Lease as aforesaid, this Lease shall be and remain
unaffected thereby. As used in this Section 31.1 (b) a partial condemnation or
taking shall be of a "material part" of the Building if, after repair,
alteration or restoration of the Building to a tenantable office building, the
Building, in Landlord's reasonable opinion, would not be economically viable as
a first-class office building.

             (c) If a part of the Premises and not the entire Premises shall be
so acquired or condemned then (i) except as hereinafter provided, this Lease and
the Term shall continue in force and effect but from and after the date of the
vesting of title, (A) such part shall no longer constitute part of the Premises,
(B) the Fixed Rent and the Additional Rent shall be reduced in the proportion
which the area of the part of the Premises so acquired or condemned bears to the
total area of the Premises immediately prior to such acquisition or
condemnation, computed in the same manner as area is computed as of the date of
this Lease, and (C) Tenant's Proportionate Operating Expense Share and or
Tenant's Proportionate Tax Share under Sections 3.1 and 3.2, respectively, shall
be redetermined based upon the ratio between the area of the Premises remaining
after such acquisition or condemnation and the area of the Premises prior to
such acquisition or condemnation, computed in the same manner as area is
computed as of the date of this Lease; and (ii) if the acquisition or
condemnation of the part of the Real Property so acquired or condemned shall (x)
contain more than fifty percent (50%) of the total rentable area of the Premises
immediately prior to such acquisition or condemnation or (y) result in the
Premises no longer being reasonably usable for the purposes permitted in Article
2 or (z) result in Tenant no longer having reasonable means of access to fifty
percent (50%) or more of total rentable area of the Premises, then, in any such
case, Tenant, at Tenant's option, may give to Landlord, within sixty (60) days
next following the date upon which Tenant shall have received notice of vesting
of title a notice of termination of this Lease as of a date set forth in such
notice, which date shall be not less than thirty (30) days (unless the date of
the vesting of title shall be earlier than thirty (30) days from the date of
Tenant's notice to Landlord) nor more than one hundred eighty (180) days from
the date of such notice. If any such notice of termination is given by Tenant,
this Lease and the Term shall come to an end and expire upon the termination
date set forth in such notice with the same effect as if such termination date
were the Expiration Date.

             (d) In the event of any termination of this Lease and the Term
pursuant to the provisions of this Section, the Rent shall be apportioned as of
the date of sooner termination (provided, however, that if vesting of title to
any portion of the Premises taken shall occur prior to the date of sooner
termination, the Rent attributable to such portion shall be apportioned as of
the date of vesting) and any prepaid portion of the Fixed Rent or the Additional
Rent for any period after such date shall be refunded by Landlord to Tenant,
which obligation shall survive the Expiration Date.

       31.2. In the event of termination in any of the cases hereinbefore
provided, this Lease and the Term and estate hereby granted shall expire as of
the date of such termination with the same effect as if that were the Expiration
Date, and the Fixed Rent and the Additional Rent payable hereunder shall be
apportioned as of such date.

       31.3. In the event of any condemnation or taking hereinbefore mentioned
of all or a part of the Building or the Premises, Landlord shall be entitled to
receive the entire award of the

                                      -77-

<PAGE>

condemnation proceeding, including any award made for the value of the estate
vested by this Lease in Tenant. Tenant hereby expressly assigns to Landlord any
and all right, title and interest of Tenant now or hereafter arising in or to
any such award or any part thereof, and Tenant shall be entitled to receive no
part of such award. Notwithstanding the foregoing, Tenant shall be entitled to
seek a separate award for any fixtures or Tenant's Property paid for by Tenant
or relocation expenses, provided Landlord's award is not diminished thereby.

       31.4. In the event of any taking of less than the whole of the Premises
which does not result in a termination of this Lease, Landlord shall proceed
with reasonable diligence to repair, alter and restore the remaining part of the
Premises to a self-contained rental unit in substantially its former condition
(including the Tenant Initial Work and Tenant Changes) to the extent that the
same may be feasible and may be accomplished without expenditure of funds in
excess of the amount awarded for purposes of such work.

                                   ARTICLE 32

                            SUBORDINATION, ATTORNMENT

       32.1. This Lease shall be subject and subordinate to each and every
ground, overriding or underlying lease of the Real Property or the Building now
or hereafter made by Landlord (collectively the "Superior Leases") and to each
and every trust indenture and mortgage, including, without limitation, leasehold
mortgages whether such trust indenture, mortgage or leasehold mortgage shall
cover other lands or buildings or leases (collectively the "Mortgages" and
individually a "Mortgage") which may now or hereafter affect all or any part of
the Real Property, the Building or any Superior Lease and the leasehold interest
created thereto, substitutions therefor and advances made thereunder, and to all
renewals, modifications, replacements and extensions of such Superior Leases and
Mortgages. Landlord agrees to obtain from (a) any mortgagee, an assignable and
recordable agreement to the effect that; if there shall be a foreclosure of its
Mortgage, and subject to the provisions hereinafter set forth, such mortgagee
will not make Tenant a party defendant to such foreclosure, evict Tenant,
disturb Tenant's possession under this Lease, or terminate or disturb Tenant's
leasehold estate or rights under this Lease, or (b) the landlord under any
Superior Lease, an assignable and recordable agreement to the effect that if its
lease shall terminate or be terminated for any reason, such landlord will
recognize Tenant as the direct tenant of such landlord on the same terms and
conditions as are contained in this Lease (subject to the provisions hereinafter
set forth), provided no event of default shall have occurred and be continuing
pursuant to this Lease beyond any applicable grace period (any such agreement or
any agreement of similar import from any such Mortgagee or landlord under a
Superior Lease being hereinafter called a "Non-Disturbance Agreement"). The
lessor of a Superior Lease or its successor-in-interest at the time
referred to is sometimes herein called a "Superior Lessor," and the holder of a
Mortgage or its successor-in-interest at the time referred to is sometimes
herein called a "Motgagee."

       32.2. In the event of any act or omission of Landlord which would give
Tenant the right, immediately or after the lapse of a period of time, to cancel
or terminate this Lease, or to claim a partial or total eviction, Tenant shall
not exercise such right (a) until it has given written notice of such act or
omission to each Mortgagee and Superior Lessor whose name and address shall
previously have been furnished to Tenant in writing, and (b) until a reasonable
period for remedying such act or omission shall have elapsed following the
giving of such notice and following the time when such Mortgagee and Superior
Lessor shall have become entitled under its Mortgage or Superior Lease to remedy
the same (which reasonable period shall in no event be less than the period to
which Landlord would be entitled under this Lease or otherwise, after similar
notice to effect such remedy) and which reasonable period of time shall in no
event exceed ninety (90) days unless such default cannot with due diligence be
cured within a period of ninety (90) days, in which event such period of time
shall be extended as shall be reasonable under the circumstances provided that
such Mortgagee or Superior Lessor, as the case may be, shall have commenced to
cure such act or omission within such ninety (90) day period and shall
thereafter be diligently prosecuting such cure to completion.

       32.3. If, at any time prior to the termination of this Lease, any
Superior Lessor or Mortgagee or any Person, or any Superior Lessor's or
Mortgagee's or such Person's successors or assigns (Superior Lessor, Mortgagee
and any such Person, successor or assign being herein collectively referred to
as "Successor Landlord") shall succeed to the rights of Landlord under this
Lease through possession or foreclosure action or delivery of a new lease or a
deed or

                                      -78-

<PAGE>

otherwise, Tenant agrees, at the election and upon request of any such Successor
Landlord, from time to time, to fully and completely attorn to and recognize any
such Successor Landlord, as Tenant's landlord under this Lease upon the then
existing terms of this Lease and subject to the terms and conditions of any
Non-Disturbance Agreement then in effect. Tenant, upon demand of any such
Successor Landlord, and at Successor Landlord's expense, shall execute, from
time to time, instruments to evidence and confirm the foregoing provisions of
this Section (including, if Successor Landlord shall so request, a new lease on
terms identical to this Lease), reasonably satisfactory to any such Successor
Landlord and Tenant, acknowledging such attornment and setting forth the terms
and conditions of its tenancy. Upon such attornment, this Lease shall continue
in full force and effect as a direct lease between such Successor Landlord and
Tenant upon all of the then existing terms of this Lease as modified by any
Non-Disturbance Agreement in effect except that such Successor Landlord shall
not be (a) liable for any previous act or omission or negligence of Landlord
under this Lease; (b) subject to any counterclaim, defense or offset, which
theretofore shall have accrued to Tenant against Landlord; (c) bound by any
previous modification or amendment of this Lease or by any previous prepayment
of more than one month's rent, unless such modification, amendment or prepayment
shall have been approved in writing by the Superior Lessor or Mortgagee through
or by reason of which the Successor Landlord shall have succeeded to the rights
of Landlord under this Lease; (d) obligated to perform or complete the Base
Building Work or any alteration of the Premises (provided, however, that
Tenant's obligation to attorn shall be subject to the Successor Landlord
electing to complete the Base Building Work within a reasonable period of time
following the succession to Landlord's interest in this Lease); (e) liable for
any security deposited pursuant to this Lease, if any, unless such security
shall have actually been delivered to Successor Landlord; (f) obligated to
repair the Premises or the Building or any part thereof beyond such repair as
can reasonably be accomplished from the net proceeds of insurance actually made
available to Successor Landlord; or (g) obligated to repair the Premises or the
Building or any part thereof, in the event of partial condemnation beyond such
repair as can reasonably be accomplished from the net proceeds of any award
actually made available to Successor Landlord, as consequential damages
allocable to the part of the Premises or the Building not taken.

        32.4. The effectiveness of this Lease shall be subject to Landlord
delivering to Tenant Non-Disturbance Agreements from the existing Superior
Lessor and the existing Mortgagee, if any, both in form and substance
satisfactory to Tenant in its commercially reasonable discretion. Subordination
with respect to any future Mortgage or Superior Lease pursuant to Section 32.1
and the obligation to attorn pursuant to Section 32.3 are conditional on
delivery of a Non-Disturbance Agreement. Non-Disturbance Agreements from any
Future Superior Lessor or Future Mortgagee shall be substantially in the form of
Non-Disturbance Agreements from the existing Superior Lessor and the existing
Mortgagee, or shall be satisfactory to Tenant in its commercially reasonable
discretion.

        32.5. If any prospective mortgagee of the Land, the Building or any
leasehold interest therein requires, as a condition precedent to issuing its
loan, the modification of this Lease in such manner as does not lessen Tenant's
rights or increase its obligations hereunder (except to a de minimis extent) or
reduce the obligations of Landlord hereunder, Tenant shall not delay or withhold
its consent to such modification and shall execute and deliver such confirming
documents therefor as such mortgagee requires. Further, Tenant shall cooperate
with the reasonable requests of Landlord and prospective lenders in connection
with Landlord's obtaining for the Building or the Premises construction and
permanent financing or refinancing provided no such request shall have a
material, adverse impact on Tenant's use and occupancy of the Premises, the
conduct of Tenant's business at the Premises or Tenant's obligations or
liabilities under the Lease.

                                   ARTICLE 33

                                     NOTICES

        33.1. Any notice, statement, demand, consent, approval or other
communication required or permitted to be given, rendered or made by either
party pursuant to this Lease or to any Legal Requirement (collectively,
"notices") shall be in writing (whether or not so stated elsewhere in this
Lease) and shall be deemed to have been properly given, rendered or made only
if sent by (a) registered or certified mail return receipt requested, posted in
a United States post office station or letter box in the continental United
States, (b) by a nationally recognized overnight courier (e.g., Federal Express)
with receipt acknowledged or (c) by personal delivery

                                      -79-

<PAGE>

with receipt acknowledged, to Landlord or Tenant, as the case may be, at the
address of such party set forth below:

         If to Landlord:

         Legal Department
         Forest City Ratner Companies
         One Metrotech Center North, 1l/th/ Floor
         Brooklyn, New York 11201

         Forest City Myrtle Associates, LLC
         c/o Forest City Ratner Companies
         One Metrotech Center North, 11/th/ Floor
         Brooklyn, New York 11201
         Attention: President

         With copies to:

         Forest City Enterprises, Inc.
         1160 Terminal Tower
         50 Public Square
         Cleveland, Ohio 441130
         Attention: Legal Department

         and

         Arent Fox Plotkin Kintner & Kahn, PLLC
         1675 Broadway
         New York, New York 10019
         Attention: Marc Rauch, Esq.

         Notices to Tenant shall be addressed as follows:

         If to Tenant:

         Empire HealthChoice, Inc.
         11 W. 42/nd/ Street
         New York, New York 10036
         Attention: General Counsel

         with copies to:

         Weil Gotshal & Manges LLP
         767 Fifth Avenue
         New York, New York 10153
         Attention: Alan A. Lascher, Esq.

Any notice, if sent by registered or certified mail as aforesaid, shall be
deemed to have been given, rendered or made on the day received, or if receipt
is refused, on the date so refused. Notices delivered by courier or by personal
delivery shall be deemed given when delivered to the proper address, whether or
not delivery is accepted. Either party may, by notice as aforesaid, designate a
different address or addresses for notices intended for it.

        33.2. Notices hereunder from Landlord may be given by Landlord's
managing agent or Landlord's attorney. Notices hereunder from Tenant may be
given by Tenant's attorney.

                                      -80-

<PAGE>

                                   ARTICLE 34

                       EXPEDITED CONSTRUCTION ARBITRATION

        34.1. If Landlord and Tenant are unable to agree whether any portion of
the Premises then being delivered by Landlord is Ready for Delivery and such
dispute has been referred to arbitration pursuant to this Article 34 or in any
other instance where this Lease provides that a dispute is to be resolved
pursuant to this Article 34, and only in such cases, the dispute shall be
resolved by arbitration conducted in The City of New York, County of Kings (and
not by litigation), in accordance with the provisions of this Article 34, and
judgment upon the award rendered may be entered in any court having jurisdiction
thereof.

        34.2. The party hereto desiring to arbitrate a dispute pursuant to this
Article 34 shall give notice (a "Dispute Notice") to that effect to the other
party, and such dispute shall be presented for resolution to the first available
arbitrator set forth on the list below. In the event the arbitrator listed first
is not available or is unwilling to serve, the arbitrator next set forth on the
list shall be engaged, and so on, until arriving at an available arbitrator:

                      (a)    Mr. James McKenna
                             Turner Construction
                             375 Hudson Street
                             New York, NY 10014
                             (212) 229-6212

                      (b)    Keith Pattiz, Esq.
                             McDermott Will & Emery
                             50 Rockefeller Plaza
                             New York, NY 10020
                             (212) 547-5379

                      (c)    Mr. Michael Spiro, Sr. Vice President
                             Related Companies
                             625 Madison Avenue, 9th Fl.
                             New York, NY 10022
                             (212) 588-2166

                      (d)    Gary Kleinman, Esq.
                             Solomon & Weinberg
                             685 Third Avenue
                             New York, NY 10071
                             (212) 616-1575

                      (e)    Mr. Mitch Solomon, Vice President
                             Sciame Contracting
                             80 South Street, 6th Fl.
                             New York, NY 10038
                             (212) 232-2200

                      (f)    Mr. Robert Gorton, Principal
                             Gorton Associates
                             21 West 38th Street, 6th Fl.
                             New York, NY 10018
                             (212) 768-7070

                      (g)    Warren Bernstein, Esq.
                             Kaye Scholer
                             425 Park Avenue
                             New York, NY 10022
                             (212) 836-8073

                      (h)    Mr. Jeffrey Smilo
                             Cantor Seinuk Group P.C.
                             228 East 45/th/ Street

                                      -81-

<PAGE>

                              New York, NY 10017
                              (212) 687-2233

                       (i)    Mr. Norman Kurtz
                              Flack and Kurtz Consulting Engineers, LLP
                              475 Fifth Avenue.
                              New York, NY 10117
                              (212) 532-9600

                       (j)    Mike McCambridge, Consultant
                              Rockefeller Group Development Corporation
                              1221 Avenue of the Americas
                              New York, NY 10020
                              (212) 282-2011

         Except during the pendency of an arbitration proceeding pursuant to
this Article 34, Tenant and Landlord may each, by written notice to the other,
disqualify any of the listed arbitrators for any reason whatsoever and propose
additional arbitrators to be added to the list to be agreed upon in accordance
with the provisions of the immediately following paragraph. The remaining
arbitrators shall move up on the list to fill any vacancies so created. The
arbitrator serving to resolve any dispute hereunder is hereinafter referred to
as the "Arbitrator".

         If any of the named arbitrators dies, goes out of business, is
disqualified by Landlord or Tenant or otherwise pursuant to this Article 34.2,
or elects to withdraw from the list, then the Landlord and Tenant shall agree on
a replacement within twenty (20) days after notice thereof. If Landlord and
Tenant fail to so agree, each, within five (5) days after such twenty (20) day
period, shall designate one (1) of the remaining arbitrators and the two (2)
arbitrators so chosen shall appoint a replacement within twenty (20) days
thereafter. All newly chosen arbitrators shall be placed at the bottom of the
list of potential arbitrators.

         34.3. Within two (2) Business Days after the Dispute Notice has been
delivered, both parties shall make whatever presentations they wish to the
Arbitrator, including, without limitation, the submission of photographs taken
at the time of the walk-through inspection and the applicable portions of the
construction manager's daily log book. Immediately thereafter, the Arbitrator
shall attempt to cause Landlord and Tenant to agree on a resolution to the
dispute and, failing that, the Arbitrator shall immediately make its decision.
The Arbitrator's decision may be made orally provided the Arbitrator confirms
such decision in writing within two (2) Business Days thereafter. Copies of the
Arbitrator's decision shall be sent to Landlord and to Tenant and shall be
binding on both. Any costs incurred by or payable to the Arbitrator in any such
proceeding shall be paid by the party which does not prevail or as shall be
determined by the Arbitrator, and each party shall bear the costs of its own
attorneys and other experts. The Arbitrator shall have no power to vary or
modify any of the provisions of this Lease, and his or her powers and
jurisdiction are hereby limited accordingly. During the consideration of any
issue by the Arbitrator pursuant to this Article 34, Tenant and Landlord shall
observe and perform each and every one of its obligations hereunder, including,
without limitation, the obligation to pay timely all Rent that may be or become
due or payable hereunder. Any construction lender of Landlord, or such lender's
representative, shall have the right to attend any and all arbitration
proceedings conducted pursuant to this Article 34 for the purpose of observing
such proceedings, provided, however, that such lender shall have no right to
participate in any way in any such proceeding.

                                   ARTICLE 35

                               GENERAL ARBITRATION

         35.1. Wherever in this Lease it is provided that a dispute shall or may
be submitted to or be detemined by arbitration, then the arbitration shall be
conducted as provided in this Article 35 unless otherwise expressly set forth.
The party desiring such arbitration shall give notice to that effect to the
other party, which notice shall indicate the name and address of the arbitrator
designated by such party to act on its behalf in the arbitration process
hereinafter described.

                                      -82-

<PAGE>

       35.2. (a)  If the matter in dispute is the Fixed Rent, the Additional
Rent or the fair market rent:

             (i)  Within ten (10) days, the other party by notice to the
original party shall appoint a second person as arbitrator on its behalf. If the
second arbitrator shall not have been appointed as aforesaid, the first
arbitrator shall proceed to determine such matter.

             (ii) Both arbitrators shall determine and promptly report (and in
no event later than the twentieth (20/th/) day following the appointment of the
second arbitrator) to the parties in writing the determination of the rental
valuation. If the reports indicate proposed rental valuations that are within
five (5%) percent of each other, Landlord and Tenant agree that the rental shall
be an average of the two amounts. However, if the amounts are not within five
(5%) percent of each other and after receiving the reports, the parties are
unable to agree on the rental valuation, then within five (5) days, the two
arbitrators shall jointly appoint a third arbitrator to determine the rental
valuation by selecting either Landlord's arbitrator's rental determination or
Tenant's arbitrator's rental determination according to whichever of the two
valuations is closer to the actual rental value in the opinion of such third
arbitrator. The third arbitrator shall have no discretion other than to select
one or the other valuations as aforesaid. If the arbitrators appointed by
Landlord and Tenant cannot timely agree on a third arbitrator, then
either Landlord or Tenant, on behalf of both parties hereto and on notice to the
other, may request such appointment by the American Arbitration Association (or
any organization successor thereto) in accordance with its rules then
prevailing, but if such appointment by the American Arbitration Association (or
any organization successor thereto) is not made within fifteen (15) days after
such, request is made, then either party may apply, on notice to the other, to
the Supreme Court, New York County, New York (or any other court having
jurisdiction and exercising functions similar to those now exercised by
said Court) for the appointment of such third arbitrator. The third arbitrator
shall issue a determination of valuation in writing within ten (10) Business
Days after designation of such third arbitrator and the third arbitrator's
receipt of the reports of the first two arbitrators.

             (b)  If the matter in dispute is any other determination:

             (i)  Within ten (10) days, the other party by notice to the
original party shall appoint a second person as arbitrator on its behalf. The
arbitrators thus appointed shall meet within ten (10) days after the second
arbitrator is appointed and if, within thirty (30) days after the second
arbitrator is appointed, the two arbitrators shall not agree upon the question
in dispute, they shall together appoint a third arbitrator.

             (ii) If the two arbitrators appointed by the parties shall be
unable to agree within forty (40) days after the appointment of the second
arbitrator, upon the selection of the third arbitrator, then within five (5)
days thereafter either of the parties upon notice to the other party may request
such appointment by the American Arbitration Association (or any organization
successor thereto) or in its absence, refusal, failure or inability to act, may
apply for a court appointment of such arbitrator. Such third arbitrator chosen
or appointed pursuant to this subsection shall determine the matter in dispute.

             (c)  Any arbitration shall be conducted, to the extent consistent
with this Article, in accordance with the then prevailing rules of the American
Arbitration Association (or any organization successor thereto).

             (d)  Any determination and award made as provided in this Section
35.2 shall be final and conclusive on the parties. The arbitrators shall not add
to, subtract from or otherwise modify the provisions of this Lease.

       35.3. Each party shall pay the fees and expenses of the arbitrator
appointed by or for such party, as well as the attorneys' fees, witness fees
and similar expenses incurred by such party. The fees and expenses of the third
arbitrator and all other expenses of the arbitration shall be borne by the
parties equally.

       35.4. If the matter in dispute is the Fixed Rent, the Additional Rent,
the fair market rent or any other charge payable under this Lease, each of the
arbitrators selected as herein provided (i) shall be a fit and impartial person,
(ii) shall have at least ten (10) years' experience in the leasing of office
space in, or the appraisal of, first class office buildings in Kings County or
New

                                      -83-

<PAGE>

York County, and (iii) shall be a member of one of the ten largest (determined
by the number of leasing brokers employed and the volume of first class office
space leased in the City during the preceding calendar year) office leasing
firms maintaining its main office in the City. In all other cases, the
arbitrator shall be a fit and impartial person who shall have had at least ten
(10) years experience in the City in a calling connected with the matter of the
dispute.

             35.5. Nothing contained in this Article 35 shall be deemed in any
way to alter, modify or affect the provisions of Article 3 hereof.

                                   ARTICLE 36

                                   DEFINITIONS

             36.1. For the purposes of this Lease and all agreements
supplemental to this Lease:

                   (a) "and/or" when applied to one or more matters or things
shall be construed to apply to any one or more or all thereof as the
circumstances warrant at the time in question.

                   (b) "force majeure" shall mean any delay resulting from any
acts of God, war, sabotage, terrorism, hostilities, invasion, insurrection, riot
or civil commotion, mob violence, embargo, enemy action, strike(s), lockouts,
labor troubles, inability to procure labor or materials, failure of power,
earthquake, flood, fire or other casualty other than the fire or casualty giving
rise to the damage or destruction of the Building or the Premises, as the case
may be, governmental restrictions, governmental preemption of priorities and
other controls in connection with a national or other public emergency or
shortages of fuel, supplies or labor resulting therefrom, or any similar or
dissimilar cause beyond Landlord's reasonable control.

                   (c) "herein," "hereof' and "hereunder" and words of similar
import, shall be construed to refer to this Lease as a whole, and not to any
particular article or section, unless expressly so stated.

                   (d) "Index" shall mean the Consumer Price Index for All Urban
Consumers, New York, N.Y. Northeastern N.J., base year 1982-1984 Equals 100
specified for "All Items," as issued by the Bureau of Labor Statistics of the
United States Department of Labor, whether or not the composition of the items
upon which such indexes are based, their relative effects thereon or the region
considered may be changed from time to time. If the Consumer Price Index for all
Urban Consumers shall cease to be published, then the Index shall mean the
successor index thereto and if there is no successor thereto, the Index shall be
such other index as Landlord and Tenant shall reasonably agree upon

                   (e) "Insurance Requirements" shall mean all requirements of
any insurance policy covering or applicable to all or any part of the Real
Property or the Premises or the use thereof, all requirements, policies or
recommendations of the issuer of any such policy and orders, rules, regulations,
requirements, policies or recommendations of the New York Board of Fire
Underwriters or the Insurance Services Office or any other body exercising the
same or similar functions or any insurance rating agency (e.g., Factory
Mutual).

                   (f) "Interest Rate" shall refer to two percent (2%) plus the
prime commercial lending rate of Citibank, NA (or its successor) from time to
time in effect for ninety (90) day unsecured loans.

                   (g) "Landlord" shall mean only the owner, at the time in
question, of the Building or that portion of the Building of which the Premises
are a part, or of a lease of the Building or that portion of the Building of
which the Premises are a part.

                   (h) "Landlord Parties" shall mean Landlord and any principal,
partner, member, officer, stockholder, director, employee or agent of Landlord
or of any partner or member of any partnership or limited liability company
constituting Landlord or any other direct or indirect holder of an ownership
interest in Landlord, disclosed or undisclosed; Landlord Party shall have the
corresponding singular meaning.

                   (i) "Landlord shall not have liability to Tenant" or "the
same shall be without liability to Landlord" or "without incurring any
liability to Tenant therefor" and words of similar import shall mean that Tenant
is not entitled to terminate this Lease, or to claim actual or

                                      -84-

<PAGE>

constructive eviction, partial or total or to receive any abatement or
diminution of rent, or to be relieved in any manner of any of its other
obligations hereunder, or to be compensated for loss or injury suffered or to
enforce any other right or kind of liability whatsoever against Landlord under
or with respect to this Lease or with respect to Tenant's use of occupancy of
the Premises.

             (j) "Legal Requirements" shall mean laws, statutes and ordinances,
including, without limitation, codes, approvals, permits and zoning regulations
(including without limitation the Zoning Resolution of the City of New York and
the Metrotech Design Guidelines), and ordinances; and the orders, rules,
regulations, interpretations, directives and requirements of all federal, state,
county, city and borough departments, bureaus, boards, agencies, offices,
commissions and other sub-divisions thereof, or of any official thereof, or of
any other governmental public or quasi-public authority, whether now or
hereafter in force; and all requirements, obligations and conditions of all
instruments of record which may be applicable to the Real Property or the
Premises or any part thereof or the streets, roads, avenues, sidewalks, curbs or
areas or vaults adjacent thereto.

             (k) "Mortgagee Parties" shall mean any Mortgagee and any principal,
partner, member, officer, stockholder, director, employee or agent thereof.

             (l) "Person" includes any one or more natural persons,
partnerships, trusts, corporations, companies, associations or any other form of
legal entity.

             (m) "Project" shall mean the project known as "Metrotech Center," a
commercial, academic and high technology office complex covering approximately
sixteen (16) acres in Downtown Brooklyn as shown on Exhibit R annexed hereto and
made a part hereof as well as any existing or future buildings or parts of
buildings in downtown Brooklyn which are not within the sixteen (16) acres but
which have a Metrotech Center address.

             (n) "such consent shall not be unreasonably withheld" and words of
similar import shall mean such consent shall not be unreasonably withheld or
delayed.

             (o) "Superior Lessor Parties" shall mean any Superior Lessor and
any principal, partner, member, officer, stockholder, director, employee or
agent thereof.

             (p) "Tenant" shall mean the Tenant herein named or any assignee or
other successor in interest (immediate or remote) of the Tenant herein named,
which at the time in question is the owner of the Tenant's estate and interest
granted by this Lease.

             (q) "Tenant's Designated Mechanical Space" shall mean that certain
space in the mechanical room(s) or areas of the Building determined by Landlord
within thirty (30) days after Commencement of Construction of the Building and
reasonably acceptable to Tenant.

             (r) "Tenant's Designated Roof Space" shall mean the space on the
roof of the Building determined by Landlord within thirty (30) days after
Commencement of Construction of the Building and reasonably acceptable to
Tenant, which space shall be approximately equal in size to Tenant's
Proportionate Operating Expense Share of the portion of the roof Landlord shall
allocate for all rooftop equipment.

             (s) "Tenant hereby indemnities Landlord against liability" or
"Landlord hereby indemnifies Tenant against liability" and words of similar
import shall mean that Tenant or Landlord, as the case may be, hereby agrees to
and hereby does indemnify, hold and save all Landlord Parties (and Mortgagee
Parties and Superior Lessor Parties) or Tenant Parties, as the case may be,
harmless from and against any and all loss, cost, liability, claim, action,
proceeding, damage, fine, penalty and expense, including reasonable attorneys'
fees and disbursements incurred by any Landlord Party (or Mortgagee Party or
Superior Lessor Party) or Tenant Party, as the case may be, in the investigation
or defense of any claim, action or proceeding made or brought against such
Landlord Party (or Mortgagee party or Superior Lessor Party) or Tenant Party, as
the case may be, including any separate attorneys' fees and disbursement
incurred by such Landlord Party (or Mortgagee Party or Superior Lessor Party) or
Tenant Party, as the case may be, in any claim, action or proceeding being
resisted, defended or settled by Tenant or Landlord, as the case may be, as
hereinafter provided. Upon demand by the other party, Landlord or Tenant, as the
case may be, shall either resist, defend or satisfy such claim, action or
proceeding in such Landlord Party's (Mortgagee Party's or Superior Lessor
Party's) or Tenant

                                      -85-

<PAGE>

Party's, as the case may be, name, by the attorneys for, or approved by, such
party's insurance carrier (if such claim, action or proceeding is covered by
insurance) or by such other attorneys as Landlord or Tenant, as the case may be,
shall approve, such approval not to be unreasonably withheld. All indemnity
provisions of this Lease shall survive the expiration or earlier termination of
this Lease.

                (t) "Tenant Parties" shall mean Tenant and any subtenant and any
principal, partner, member, officer, stockholder, director, employee, agent,
contractor, licensee or invitee thereof; Tenant Party shall have the
corresponding singular meaning.

                (u) "unreasonably withheld" (and grammatical variants thereof)
shall mean "unreasonably withheld, conditioned or delayed."

                                   ARTICLE 37

                                 PARKING GARAGE

         37.1.  (a) Landlord shall operate the underground parking garage in the
Building as a public garage, subject to Legal Requirements and Insurance
Requirements. Any parking by Tenant, its officers or employees in the garage
shall be limited to cars and minivans and shall be subject to such reasonable
rules and regulations as Landlord or Landlord's third-party garage operator
("Operator") shall adopt. Unless Landlord, any Affiliate of Landlord or any of
the Landlord Parties shall be the Operator, Landlord shall have no liability to
Tenant or any of the Tenant Parties for any loss or damage, including personal
injury or damage to personal property, which results, in any manner, from the
operation of the parking garage or Tenant's rental of parking space therein.

                (b) Commencing on the Rent Commencement Date, Landlord shall
make available, or shall cause Operator to make available, up to five (5)
monthly parking permits, at no additional cost to Tenant or its Affiliates, for
use by Tenant's officers and employees at the Premises or the officers and
employees of Tenant's Affiliates at the Premises.

                (c) On or before the one hundred twentieth (120/th/) day after
execution and delivery of this Lease by the parties and again sixty (60) days
before the Rent Commencement Date, Tenant shall notify Landlord of the number of
paid monthly parking permits which Tenant desires Landlord or the Operator to
make available for use by the officers and employees of Tenant and its
Affiliates at the Premises. If Tenant shall so notify Landlord, Operator shall
make available the number of paid parking permits requested on the Rent
Commencement Date or as soon as reasonably practicable thereafter.

                (d) After the Rent Commencement Date, Tenant may from time to
time notify Landlord that it requires fewer or additional paid parking permits
and if Tenant shall so notify Landlord, Operator shall, subject to availability,
promptly make available the number of paid parking permits requested as soon as
reasonably practicable thereafter.

         37.2.  Tenant shall pay Landlord or Operator its posted rates for paid
monthly parking permits or such other rates as Landlord (or Operator) and Tenant
shall agree upon.

                                   ARTICLE 38

                      COMMUNICATIONS EQUIPMENT AND ANTENNA

         38.1.  (a) Subject to and in accordance with the terms and provisions
of this Lease, Tenant shall have the right to install, maintain, operate,
repair, replace and remove satellite and microwave dishes and appurtenances
thereto as may be reasonably approved by Landlord (hereinafter collectively
referred to as the "Antenna") in Tenant's Designated Roof Space, the size and
location of which within Tenant's Designated Roof Space shall be subject to
Landlord's reasonable approval (provided that the location of the Antenna shall
not adversely affect the ability thereof to transmit or receive signals), and
run lines and conduits and cables (including, without limitation, lines to
supply electricity for operation of the Antenna from Tenant's dedicated
electrical equipment in the Building) between the Antenna and the Premises,
provided that (and in the event Tenant makes or causes to be made such
installation, Tenant hereby covenants and agrees that): (i) such installations
are performed in accordance with all Legal

                                      -86-

<PAGE>

Requirements and in compliance with the terms of Article 15 of this Lease
relating to Tenant Changes; (ii) Tenant shall indemnify and hold Landlord
harmless from any liability, cost or expense (including reasonable attorneys'
fees and disbursements) connected therewith or arising therefrom of any nature
whatsoever; (iii) Tenant shall promptly repair any damage caused to the roof or
any other portion of the Building by reason of such installation including,
without limitation, any repairs, restorations, maintenance, renewals or
replacement of the roof necessitated by or in any way caused by or relating to
such installations; (iv) Tenant shall cooperate with Landlord to mitigate any
disturbance or interference with the use or intended use of any antenna or other
communications equipment by Landlord or any other tenant or occupant of the
Building caused by the installation or maintenance of the Antenna, including,
without limitation, by moving the Antenna to another location specified by
Landlord, at Landlord's sole cost and expense, provided that (A) the
transmission and reception of the Antenna, following such move, modification or
alteration, shall not be diminished and (B) any such move shall be done at a
time reasonably acceptable to Tenant and shall be done in a manner to avoid
material disruption to the operation of Tenant's business; (v) the Antenna shall
be deemed Special Initial Work or Special Tenant Changes, as the case may be,
for all purposes of this Lease; (vi) Tenant shall obtain any additional
insurance coverage with respect to such installations for the benefit of
Landlord in such amount and of such type as Landlord may reasonably require and
is customarily obtained for owners of office buildings in the City for similar
type installations; (vii) if Landlord's structural engineer shall reasonably
deem it advisable that there be structural reinforcement of the roof of the
Building in connection with any such installation because the load on the roof
exceeds forty (40) pounds per square foot, Landlord shall perform same at
Tenant's cost and expense and Tenant shall not perform any such installation
prior to the completion of any such structural reinforcement; (viii) the Antenna
shall be used only in connection with Tenant's, Tenant's Affiliates' and
Tenant's permitted occupants', assignees' and subtenants' normal business
activities, and (ix) Tenant shall not permit the Antenna to be used by or for
any third party other than Tenant's Affiliates and Tenant's permitted occupants
and subtenants.

                (b)  Tenant shall have reasonable access to the roof as may be
reasonably necessary in connection with the installation, maintenance,
operation, repair, replacement and removal of the Antenna and related risers,
conduits and cable, provided that Tenant shall give Landlord reasonable prior
notice of such access requirements. If any installation by Tenant or any
contractor or agent of Tenant referred to in this Article or act or omission
relating thereto should revoke, negate or in any manner impair or limit any roof
warranty or guaranty obtained by Landlord, then Tenant shall reimburse Landlord
for any loss or damage sustained or costs or expenses incurred by Landlord as a
result of such impairment or limitation to the extent caused by Tenant, any of
the Tenant Parties, any Affiliate of Tenant or any of Tenant's permitted
occupants or subtenants.

        38.2.   Subject to and in accordance with the terms of this Lease, upon
prior notice to Landlord, Tenant may substitute any antenna or communication
dish for its Antenna provided that such substituted antenna and communication
dish are substantially equivalent to or less than the size and scope of such
Antenna and meet with the reasonable rules, regulations and guidelines therefor
promulgated by Landlord, from time to time.

        38.3.   Subject to the terms and conditions of this Lease, to the extent
that Tenant is permitted hereunder to construct and operate (or cause to be
constructed and operated) an antenna, a facility or any other item of equipment
for the purpose of transmitting telecommunication signals to satellites (a
"Facility"), Tenant shall comply with the requirements set forth in this Section
38.3 and shall cause provisions substantially in accordance with the following
to be included in subleases permitted hereunder:

                (a)  To the extent required by applicable law or by the City
under the Ground Lease, Tenant or any subtenant to whom this Section applies
(collectively, the "Facility Operators") will, before constructing and/or
installing a Facility (or having same constructed or installed), do the
following:

                (i)  devise a program for monitoring electromagnetic radiation
levels on and in the vicinity of the Building (the "Program");

                (ii) select a firm to carry out the Program (the "Monitor"); and

                                      -87-

<PAGE>

                (iii)  obtain through the Bureau of Radiation Control of the New
York City Department of Health (the "Bureau"), the City's approval of both the
Program and the Monitor.

                (b)    Monitoring electromagnetic radiation levels under a
Program will commence when the Facility covered by such Program begins to
transmit telecommunication signals, through its antenna, or whenever the antenna
is reactivated after being shut down for repair, or whenever a substitute
antenna (or substitute Facility) starts operation after replacing the old
equipment.

                (c)    While Programs are in operation, the Facility Operators
shall do the following:

                (i)    submit to the Bureau all reports (the writing and
submission of which must occur no less frequently than twice (or such greater
number as may be required by applicable law or by the City under the Ground
Lease) per calendar year) as produced by the Monitor with regard to the results
of monitoring electromagnetic radiation levels under the Program;

                (ii)   substitute the City as Monitor if and when the City
develops its own capability to monitor electromagnetic radiation;

                (iii)  pay for all costs and expenses incurred by the City as a
Monitor if and when the City becomes same; and

                (iv)   insure that the Program occur at locations in the
Premises which are accessible to the general public.

                (d)    If and when the Monitor finds the level of
electromagnetic radiation produced at the Building, as measured at one or more
locations generally or readily accessible to the general public, exceeds either
fifty (50) microwatts per square centimeter or any maximum permissible standard
hereinafter adopted by the City, the relevant Facility Operator or Operators
will take whatever steps are necessary to reduce the level of electromagnetic
radiation produced at the relevant locations to a power density below the
applicable level.

                                   ARTICLE 39

                                EXTENSION OF TERM

         39.1.  (a)    Tenant shall have the right to extend the Term of this
Lease for two (2) successive additional ten (10 year periods (each, an
"Extension Term"), the first ending on the tenth (10th) anniversary of the
Expiration Date of the initial Term of this Lease (the "First Extension Term"
and the second ending on the twentieth (20th) anniversary of the Expiration
Date of the initial Term of this Lease (the "Second Extension Term"), both upon
the same terms and conditions as provided in this Lease for the initial Term,
except that the Fixed Rent, Tenant's Proportionate Tax Share, Tenants'
Proportionate Operating Expense Share and certain other provisions shall be
adjusted as provided in Sections 39.2. The rights to extend the Term may be
exercised with respect to (A) the entire Premises, or (B) less than the entire
Premises provided that (i) such extension shall be for one (1) or more
contiguous full floors (the "First Extension Floor(s)"), (ii) Tenant shall only
have the right to exercise the Second Extension Term with respect to one (1) or
more contiguous full floors (the "Second Extension Floor(s)") which were the
subject of the First Extension Term, and (iii) with respect to any portion of
the Premises for which the Term is not extended as aforesaid, this Lease shall
terminate on the expiration of the initial Term or the First Extension Term, as
the case may be, and all provisions hereof with respect to the termination of
this Lease and the expiration of the Term shall apply thereto, including any
restoration requirements with respect to such space.

                (b)    The right to extend the Term is subject to the following:

                (i)    With respect to the First Extension Term, Tenant shall
give Landlord notice (the "First Extension Notice") of its election to extend
the Term at least eighteen (18) months prior to the Expiration Date of the
initial Term of this Lease, which notice shall specify whether Tenant has
elected to extend the Term with respect to the entire Premises or for the First
Extension Floor(s);

                                      -88-

<PAGE>

                (ii)  With respect to the Second Extension Term, Tenant shall
give Landlord notice (the "Second Extension Notice") of its election to extend
the Term at least eighteen (18) months prior to the Expiration Date of the
First Extension Term of this Lease, which notice shall specify whether Tenant
has elected to extend the Term with respect to the entire then Premises or the
Second Extension Floor(s);

                (iii) This Lease shall be in full force and effect as of the
time of the giving of either the First Extension Notice or the Second Extension
Notice; and

                (iv)  Tenant and its Affiliates (and corporate successors and
assigns permitted in accordance with Section 7.1) shall be in actual occupancy
of not less than fifty percent (50%) of the Premises (or if Tenant desires to
exercise the right to extend with respect to the Extension Floor(s), fifty
percent (50%) of the Extension Floor(s)) as of the time of the giving of the
First Extension Notice or the Second Extension Notice, as the case may be, and
as of the commencement of the Extension Term; or if Tenant and its Affiliates
(and corporate successors and assigns permitted in accordance with Section 7.1)
shall not be in actual occupancy of at least fifty percent (50%) of the Premises
(or the Extension Floor(s)) as of the time of the giving of the First Extension
Notice or the Second Extension Notice, as the case may be, the chief operating
officer of Tenant shall certify to Landlord that Tenant and its Affiliates (and
corporate successors and assigns permitted in accordance with Section 7.1)
shall, upon the commencement of the Extension Term, occupy at least fifty
percent (50%) of the Premises (or the Extension Floor(s)).

         39.2.  (a)   The Fixed Rent payable by Tenant to Landlord during the
First Extension Term shall be the fair market rent per rentable square foot for
the Premises or the Extension Floor(s) determined as of the date six (6) months
prior to the commencement of the First Extension Term but in no event less than
the Rent per rentable square foot payable under this Lease on the Expiration
Date.

                (b)   The Fixed Rent payable by Tenant to Landlord during the
Second Extension Term shall be the fair market rent per rentable square foot for
the Premises or the Expansion Floor(s) determined as of the date six (6) months
prior to the commencement of the Second Extension Term but in no event less than
the Rent per rentable square foot payable under this Lease on the Expiration
Date of the First Extension Term.

                (c)   The "fair market rent" shall mean the going rate of fixed
annual rent for comparable office space giving due consideration to (i)
location, size and the interior construction and fittings in the Premises, (ii)
the Base Tax Year and Base Year Taxes and the Base Year Operating Expenses,
(iii) the fact that Landlord shall not be obligated to perform any work  to
prepare the Premises for Tenant's occupancy, (iv) the fact that Tenant shall not
be entitled to any work allowance or credit against the Fixed Rent in lieu
thereof, (v) the absence of so-called  "down time," and (vi) any other relevant
factors which would be taken into account in leasing the Premises or the
Extension Floor(s) to a third party in an arm's length transaction, including,
without limitation, brokerage commissions. Landlord and Tenant shall in good
faith attempt to arrive at an agreement as to the fair market rent as soon as
possible after Tenant gives the First Extension Notice or the Second Extension
Notice, as the case may be. In the event that the fair market rent has not been
agreed upon by Landlord and Tenant six (6) months prior to the commencement of
the relevant Extension Term, then upon the written request of either Landlord or
Tenant, the determination shall be submitted to arbitration in accordance with
the provisions of Section 35.2 hereof. In the event that such arbitration shall
not have been finally determined prior to the commencement of the Extension
Term, Tenant shall pay Landlord's proposed Fixed Rent for the Extension Term
until such determination is made. If the Fixed Rent determined to be payable
shall be less than that paid by Tenant prior to the final determination of such
arbitration, at Tenant's election Landlord shall within thirty (30) days after
such final determination either pay to Tenant the amount of the excess plus
interest on the disputed amount at the Interest Rate or credit the same against
the next installment of Fixed Rent.

                (d)   If Tenant exercises its right to extend the Term for less
than the entire Premises, Tenant's Proportionate Tax Share and Tenants'
Proportionate Operating Expense Share shall be correspondingly revised (i.e., to
a percentage represented by a fraction having a numerator equal to the rentable
square footage of the portion of the Premises for which the Term is being
extended and a denominator equal to the total rentable square footage of the
Building or the number of rentable square feet of office space contained in the
Building, as the case may be), and Landlord shall have the right to
proportionately reduce the size of Tenant's Designated Roof

                                      -89-

<PAGE>

Space, provided that Landlord shall us its good faith efforts to minimize the
disruption of Tenant's then current use of Tenant's Designated Roof Space in
connection with such reduction.

         39.3.  If this Lease is extended for one or both Extension Terms,
Landlord or Tenant may request that the other party hereto execute a certificate
in form reasonably satisfactory to the parties setting forth the exercise of
Tenant's right to extend the term of this Lease, the last day of such Extension
Tenn and the Fixed Rent payable during such Extension Term.

         If Tenant exercises its right to extend the Term for an Extension Term
pursuant to this Article 39, the phrases "Term," "term of this Lease" or as used
in this Lease, shall be construed to include, when practicable, the applicable
Extension Term.

                                   ARTICLE 40

         EARLY EXPANSION RIGHTS AND REDUCTION RIGHTS; EXPANSION OPTIONS

         40.1.  (a)   Through and including the ninetieth (90/th/) day following
the Commencement of Construction of the Building, Tenant shall have a one-time
right to increase the size of the Premises to include (subject to availability)
the entire tenth (10/th/) floor of the Building or the entire tenth (10/th/)
and eleventh (11/th/) floors of the Building by written notice to Landlord
exercising such right and designating the floor(s) Tenant intends to add to the
Premises (the "Early Expansion Notice"). If timely delivered, the Early
Expansion Notice shall be deemed irrevocable (except to the extent expressly
provided to the contrary in this Article) and the floor(s) referenced in the
Early Expansion Notice shall be included in the Premises. If Tenant shall fail
timely to send the Early Expansion Notice, Tenant shall be deemed to have
irrevocably, waived the early expansion right set forth in this Section 40.1
(a). If Tenant shall timely exercise the early expansion right as aforesaid (the
subject floor(s) hereinafter referred to as the "Early Expansion Space"), then:

                (i)   Landlord hereby leases to Tenant and Tenant hereby rents
from Landlord the Early Expansion Space;

                (ii)  all references in this Lease to the "Premises" shall be
deemed to include the Early Expansion Space and the total rentable square
footage of the Premises shall be increased accordingly (for purposes of this
Article 40, the parties agree that the entire tenth (10/th/) floor is deemed to
consist of 35,143 rentable square feet and the entire eleventh (11/th/) floor is
deemed to consist of 35,143 rentable square feet);

                (iii) Fixed Rent shall be increased by an amount equal to the
product of (x) the rentable square footage of the Early Expansion Space and (y)
the Fixed Rent per rentable square foot provided in Section 1.3(a) hereof;

                (iv)  Tenant's Proportionate Tax Share and Tenants'
Proportionate Operating Expense Share shall be correspondingly increased (i.e.,
by a percentage represented by a fraction having a numerator equal to the
rentable square footage of the Early Expansion Space and a denominator equal to
the total rentable square footage of the Building or the number of rentable
square feet of office space contained in the Building, as the case may be);

                (v)   Tenant's Initial Work Allowance (other than the Rentalized
Amount) shall be increased by an amount equal to the product of (i) Thirty-Five
Dollars ($35.00) per rentable square foot and (ii) the total rentable square
footage of the Early Expansion Space;

                (vi)  Tenant shall have the right to elect in the Early
Expansion Notice to proportionately increase the size of Tenant's Designated
Roof Space; and

                (vii) all of the terms, provisions and conditions of this Lease
(including Article 39 hereof) shall apply to the Early Expansion Space with the
same force and effect as if it were initially leased to Tenant as part of the
initial space demised hereunder and the access rights granted under Section
10.1(a)(i) shall be deemed extended to the Early Expansion Rights.

                (b)   Unless Tenant shall have previously exercised the early
expansion right pursuant to Section 40.1(a), then through and including the
ninetieth (90/th/) day following the Commencement of Construction of the
Building, Tenant shall have a one-time right to reduce the size of the Premises
to exclude (i) the entire ninth (9/th/) floor of the Building or (ii) the entire

                                      -90-

<PAGE>

eighth (8/th/) and ninth (9/th/) floors of the Building, by irrevocable, written
notice to Landlord exercising such right and indicating the floor(s) Tenant
intends to excluded from the Premises (the "Reduction Notice"). If Tenant shall
fail to timely send the Reduction Notice, Tenant shall be deemed to have
irrevocably waived the early reduction right set forth in this Section 40.1(b).
If Tenant shall timely exercise the early reduction right as aforesaid (the
subject floor(s) hereinafter referred to as the "Reduction Space"), then:

               (i)   all references in this Lease to the "Premises" shall be
deemed to exclude the Reduction Space and the total rentable square footage of
the Premises shall be decreased accordingly;

               (ii)  Fixed Rent shall be decreased by an amount equal to the
product of (x) the rentable square footage of the Reduction Space and (y) the
Fixed Rent per rentable square foot provided in Section 1.3(a) hereof;

               (iii) Tenant's Proportionate Tax Share and Tenant's Proportionate
Operating Expense Share shall be correspondingly decreased (i.e., by a
percentage represented by a fraction having a numerator equal to the rentable
square footage of the Reduction Space and a denominator equal to the total
rentable square footage of the Building or the number of rentable square feet of
office space contained in the Building, as the case may be);

               (iv)  The Base Allowance shall be decreased by (A) with respect
to the Thirty-Five Dollars ($35.00) per rentable square foot referenced in
Section 16.20(b), an amount equal to the product of (i) Thirty-Five Dollars
($35.00) per rentable square foot and (ii) the total rentable square footage of
the Early Reduction Space and (B) with respect to the Eight Hundred Eighty-Nine
Thousand One Hundred Twenty Three Dollars ($889,123.00) referenced in Section
16.20(b), an amount equal the product of (i) $899,123.00 and (ii) the ratio of
the total rentable square footage of the Early Reduction Space to the total
rentable square footage of the Premises prior to any such reduction; and

               (v)   Landlord shall have the right to proportionately reduce the
size of Tenant's Designated Roof Space.

         40.2. (a)   If Tenant has not previously leased the tenth (10/th/) and
eleventh (11/th/) floors pursuant to Section 40.1(a) and provided Tenant shall
not then be in default of any of its material obligations under this Lease
(after the giving of any required notice and the expiration of any applicable
cure period), Tenant shall have the option (the "Year Five Expansion Option")
pursuant to the terms and conditions of this Section 42.2, to lease one (1)
entire floor of the Building contiguous with the Premises (the "Year Five
Expansion Space") by giving irrevocable notice to Landlord at least twelve (12)
months prior to the fifth (5/th/) anniversary of the Rent Commencement Date. If
Tenant shall timely exercise the Year Five Expansion Option, the term hereof
with respect to the Year Five Expansion Space shall commence on the later to
occur of (i) the fifth (5/th/) anniversary of the Rent Commencement Date and
(ii) the date on which Landlord delivers vacant possession of the entire Year
Five Expansion Space to Tenant (such later date, the "Year Five Expansion Space
Commencement Date") and shall end on the Expiration Date. If Tenant shall fail
timely to exercise the Year Five Expansion Option, (x) Tenant shall be deemed to
have irrevocably waived the Year Five Expansion Option, (y) Landlord shall be
free to lease the Year Five Expansion Space to any third party at any rental
rate and upon any terms determined by Landlord, and (z) subject to Section
40.2(b), the Year Five Expansion Space shall be unencumbered by the provisions
of this Article, and Landlord shall be under no further obligation to offer the
space to Tenant, except as expressly provided in Article 41 hereof.

              (b)    If Tenant shall not have leased the tenth (10/th/) and
(11/th/) floors pursuant to Section 40.1(a) and/or Section 40.2(a), and provided
Tenant shall not then be in default of any of its material obligations under
this Lease (after the giving of any required notice and the expiration of any
applicable cure period), Tenant shall have the option (the "Year Ten Expansion
Option"), pursuant to the terms and conditions of this Section 40.2, to lease
one (1) entire floor of the Building contiguous with the Premises (the "Year Ten
Expansion Space") by giving irrevocable notice to Landlord at least twelve (12)
months prior to the tenth (10/th/) anniversary of the Rent Commencement Date. If
Tenant shall timely exercise the Year Ten Expansion Option, the term hereof with
respect to the Year Ten Expansion Space shall commence on the later to occur of
(i) the tenth (l0/th/) anniversary of the Rent Commencement Date and (ii) the
date on which Landlord delivers vacant possession of the entire Year Ten
Expansion Space to Tenant

                                      -91-

<PAGE>

(such later date, the "Year Ten Expansion Space Commencement Date") and shall
end on the Expiration Date. If Tenant shall fail timely to exercise the Year Ten
Expansion Option, (x) Tenant shall be deemed to have irrevocably waived the Year
Ten Expansion Option, (y) Landlord shall be free to lease the Year Ten Expansion
Space to any third party at any rental rate and upon any terms determined by
Landlord, and (z) the Year Ten Expansion Space shall be unencumbered by the
provisions of this Article and Landlord shall be under no further obligation to
offer the space to Tenant, except as expressly provided in Article 41 hereof.

               (c)   If (i) Tenant shall exercise the Year Five Expansion
Option, then effective as of the Year Five Expansion Space Commencement Date
and/or (ii) if Tenant shall exercise the Year Ten Expansion Option, then
effective as of Year Ten Expansion Space Commencement Date, the following
conditions shall apply to the Year Five Expansion Space and/or the Year Ten
Expansion Space, as the case may be (the applicable expansion space, given the
context, the "Expansion Space"):

               (i)   Landlord hereby leases to Tenant and Tenant hereby rents
from Landlord the Expansion Space, and the total rentable square footage of the
Premises shall be increased accordingly;

               (ii)  all references in this Lease to the "Premises" shall be
deemed to include the Expansion Space;

               (iii) the Fixed Rent hereunder shall be increased by an amount
equal to the fair market value of the Expansion Space, as determined in Section
39.2(c) hereof, but in no event less than the Rent per rentable square foot then
payable by Tenant under this Lease;

               (iv)  Tenant's Proportionate Tax Share and Tenant's Operating
Expense Proportionate Share shall be correspondingly increased (i.e., by a
percentage represented by a fraction having a numerator equal to the rentable
square footage of the Expansion Space and a denominator equal to the total
rentable square footage of the Building or the number of rentable square feet of
office space contained in the Building, as the case may be);

               (v)   Tenant shall have the right to elect in Tenant's expansion
election notice to prcportionately increase the size of Tenant's Designated Roof
Space.

               (vi)  Tenant agrees to accept such Expansion Space in its "as is"
condition in all respects as of the Year Five Expansion Space Commencement Date
or Year Ten Expansion Space Commencement Date, as applicable, provided Landlord
delivers the same broom clean, "as is" and in the surrender condition required
by the lease of the vacating tenant;

               (vii) except as expressly provided in this Section 40.2, all of
the terms, provisions and conditions of this Lease (including Article 39 hereof
and the Tax Base Year and Base Year Operating Expenses, as applicable and as
specified in Article 3) shall apply to the Expansion Space with the same force
and effect as if it were initially leased to Tenant as part of the initial
Premises demised hereunder, except that nothing contained in this Section
40.2(c)(vii) is intended to impute any retroactive liability on Tenant for the
Year Five Expansion Option or the Year Ten Expansion Option, as the case may be,
prior to the Year Five Expansion Space Commencement Date or the Year Ten
Expansion Space Commencement Date, respectively;

               (d)   if Landlord shall be prevented from-delivering possession
to Tenant of any or all of the Year Five Expansion Space on the Year Five
Expansion Space Commencement Date or any or all of the Year Ten Expansion Space
on the Year Ten Expansion Space Commencement Date due to the holdover or
retention of possession of any tenant thereof or subtenant, successor or
assignee of such tenant, Landlord shall not be subject to any liability
for failure to give possession of such Expansion Space to Tenant, the validity
of this Lease shall not be impaired thereby, and Tenant shall take possession of
such Expansion Space if, as and when vacant possession of the entire Expansion
Space at issue is delivered to Tenant, provided, however, that if possession of
such space is not delivered to Tenant within six (6) months after the fifth
(5/th/) anniversary of the Rent Commencement Date with respect to the Year Five
Expansion Option or the tenth (l0/th/) anniversary of the Rent Commencement Date
with respect to the Year Ten Expansion Option, as the case may be, Tenant shall
have the right to revoke its exercise of the Year Five Expansion option or the
Year Ten Expansion option, respectively, on

                                      -92-

<PAGE>

thirty (30) days' prior notice to Landlord unless possession is delivered prior
to the expiration of such thirty (30) day period.

     40.3.  If on the commencement date of the term of any such Expansion Space,
Tenant shall be in default in the performance of any of the terms, conditions or
provisions of this Lease (after receipt of any required notice and the
expiration of any applicable cure period), Tenant's exercise of such option and
the expansion or reduction of space hereby contemplated shall, at the option of
Landlord exercised by written notice to Tenant, be rendered null and void and
shall be of no further force or effect, and Tenant shall have no further
additional right to exercise said option.

     40.4.  If Tenant exercises any option provided for in this Article 40,
then, at Landlord's request after (a) with respect to Section 40.1(a), the later
to occur of delivery of the Early Expansion Notice, (b) with respect to Section
40.1(b), delivery of the Reduction Notice and (c) with respect to Section 40.3,
the Year Five Expansion Space Commencement Date or the Year Ten Expansion Space
Commencement Date, as applicable, Tenant agrees to execute, acknowledge and
deliver to Landlord within ten (10) days of Landlord's request an instrument in
form and substance reasonably acceptable to Landlord confirming (i) the Fixed
Rent payable under this Lease, (ii) the leasing or reduction of the space that
is the subject of the option and (iii) any other modifications provided for in
this Article 40, but no such instrument shall be required in order to make the
provisions hereof effective.

                                   ARTICLE 41

                              RIGHT OF FIRST OFFER

     41.1.  If at any time during the Term after the initial leasing of all of
the space in the Building, any space in the Building has become, or Landlord
anticipates will become, available for leasing (such space that becomes
available being referred to as the "Offering Space"), then Landlord, before
offering such space to any other party, shall offer to Tenant the right (the
"ROFO") to lease such Offering Space on the terms and conditions hereinafter
provided (but exclusive of any rent abatements, tenant work allowances or work
to be performed by Landlord to prepare the Offering Space for occupancy, except
as may specifically be provided in this Article 41) and such additional terms
and conditions as are hereinafter set forth. Such right shall be offered to
Tenant at least nine (9) months prior to the date the existing lease for such
space is scheduled to expire (or, if such lease is terminated prior to its
scheduled expiration date, then as soon as reasonably practicable in the
circumstances).

     41.2.  Any offer pursuant to this Article 41 shall be made by Landlord to
Tenant in a written notice (hereinafter called the "Offering Space Notice")
which offer shall set forth, inter alia (a) the Offering Space being offered,(b)
the Fixed Rent per rentable square foot for the Offering Space, which shall be
the fixed annual rent at which such space would be offered to third parties (as
adjusted to reflect any rent or tenant improvement allowance concessions
Landlord would offer to any such third party or work which would be performed by
Landlord for such third party unless Landlord elects to give such concession(s)
or work to Tenant) multiplied by the number of rentable square feet of the
Offering Space, (c) the number of rentable square feet of, and Tenant's
Proportionate Tax Share and Tenant's Proportionate Operating Expense Share with
respect to, the Offering Space, and (d) the date on which Landlord anticipates
that the Offering Space will become available for delivery to Tenant in the
condition specified below in this Section 41.2. Tenant may accept the offer set
forth in the Offering Space Notice by delivering to Landlord an unconditional
acceptance (hereinafter called "Tenant's Acceptance Notice") of such offer
within thirty (30) days after delivery by Landlord of the Offering Space Notice
to Tenant. Tenant may only accept the offer as to the entire Offering Space
described in the Offering Space Notice. If Tenant exercises the right to lease
the Offering Space as aforesaid, Tenant shall accept the Offering Space offered
to Tenant vacant, broom clean, "as is" and in the surrender condition required
by the lease of the vacating tenant, on the Offering Space Inclusion Date
(defined below), and Tenant agrees that Landlord shall not be required to make
any improvements therein to prepare the Offering Space for Tenant's occupancy.

     41.3.  If Tenant shall duly deliver to Landlord a Tenant's Acceptance
Notice in accordance with this Article 41, then Tenant shall conclusively and
irrevocably be deemed to have accepted Landlord's offer and this Lease shall
automatically and without any further act by either party be deemed amended as
of the later to occur of (i) the date set forth in the Offering

                                      -93-

<PAGE>

Space Notice or (ii) the date that such Offering Space is available for Tenant's
possession in the condition in which such space is required to be delivered in
accordance with this Article 41 (as the case may be, the "Offering Space
Inclusion Date") to reflect that:

               (a) Landlord hereby leases to Tenant and Tenant hereby rents from
Landlord the Offering Space, and the total rentable square footage of the
Premises shall be increased by the amount set forth in the Offering Space
Notice;

               (b) all references in this Lease to the "Premises" shall be
deemed to include the Offering Space;

               (c) the Fixed Rent hereunder shall be increased by the amount set
forth for the same in the Offering Notice;

               (d) Tenant's Proportionate Tax Share and Tenant's Proportionate
Operating Expense Share shall be correspondingly increased by the respective
amounts for the same set forth in the Offering Notice;

               (e) Tenant shall have the right to elect in Tenant's Acceptance
to proportionately increase the size of Tenant's Designated Roof Space; and

               (f) all of the terms, provisions and conditions of this Lease
(including Article 39 hereof and the Base Tax Year, Base Year Taxes and Base
Year Operating Expenses, as applicable and as set forth in Article 3) shall
apply to the Offering Space with the same force and effect as if it were
initially leased to Tenant as part of the initial space demised hereunder,
except that nothing contained in this Section 41.3(e) is intended to impute any
retroactive liability on Tenant for the Offering Space prior to the Offering
Space Inclusion Date.

     In confirmation of the exercise of the ROFO, Landlord may request that
Tenant execute, acknowledge and deliver, and the Tenant shall so exercise,
acknowledge and deliver, an instrument in form acceptable to Landlord confirming
the exercise of the ROFO and the terms specific to the Offering Space; however,
no such documentation shall be necessary to effectuate the self-operative
amendments to the Lease provided above.

     41.4.     If Tenant does not deliver (or fails timely to deliver) a
Tenant's Acceptance Notice within the thirty (30) day period described in
Section 41.2, then Tenant shall have automatically, completely and irrevocably,
without any further act by any party, waived its rights under this Article 41
with respect to the leasing of the Offering Space described in the Offering
Space Notice and Landlord shall at any and all times thereafter be entitled to
lease such Offering Space to others at such rentals and upon such terms and
conditions as Landlord in its sole and absolute discretion may desire, whether
such rental terms, provisions and conditions are the same as those offered to
Tenant or more or less favorable, provided, however, that (i) before Landlord
may lease such Offering Space to any proposed tenant for a rental which (taking
into account any rent or tenant improvement allowance concessions offered to
such proposed tenant and any work which would be performed by Landlord for such
proposed tenant, unless Landlord shall have offered such concession(s) or work
to Tenant) shall be more than seven and one half percent (7.5%) less than the
rental set forth in the Offering Space Notice with respect to such Offering
Space, or (ii) if Landlord does not consummate a lease for the Offering Space
with a third party within six (6) months from the date of Tenant's waiver (or
deemed waiver) of its rights to lease the Offering Space, as aforesaid, then, in
either case, Landlord shall again offer the Offering Space to Tenant in
accordance with the provisions of this Article 41 on the basis of the then
applicable terms.

     41.5.     The provisions of this Article 41 shall be effective only if,
upon (i) the date the Offering Space becomes available for leasing, (ii) the
date of the Tenant's Acceptance Notice and (iii) the date the Offering Space
becomes available for possession (a) the named Tenant and its Affiliates or
permitted successor corporation permitted pursuant to Section 7.1 is in actual
physical occupancy and possession of an amount of space equal to at least fifty
percent (50%) of the Premises previously delivered by Landlord to Tenant, and
(b) no Event of Default shall have occurred and be continuing. The rights
described in this Article 41 are personal to Empire HealthChoice, Inc. d/b/a
Empire Blue Cross Blue Shield and/or any Affiliate of Tenant and/or any
successor-in-interest to Tenant by assignment or subletting pursuant to Section
7.1(b), and no other person or entity shall be entitled to exercise any right
granted by this Article 41.

                                      -94-

<PAGE>

               (a) The parties hereto acknowledge that the Offering Space is
currently and/or may be in the future occupied by another tenant and/or
subtenants and that Landlord shall not deliver to Tenant the Offering Space
until such tenant and/or subtenants have vacated and surrendered the Offering
Space to Landlord. If Landlord is unable to give possession of the Offering
Space to Tenant because of the holding-over or retention of possession of such
tenant and/or subtenants, or any other undertenant or other occupant of the
Offering Space, or for any other reason, Landlord shall not be subject to any
claims or damages of any kind or nature whatsoever for failure to give
possession, and the validity of this Lease shall not be impaired in any manner
under such circumstances, Tenant hereby waiving all rights under Section 223-a
of the Real Property Law of New York or any successor or similar statute with
respect thereto. If Landlord has not delivered possession of the Offering Space
to Tenant within six (6) months of the date set forth in the Offering Space
Notice for such, Tenant shall have the right to revoke its exercise of the ROFO
on thirty (30) days' prior notice to Landlord unless possession is delivered
prior to the expiration of such thirty (30) day period.

                                   ARTICLE 42

                            MISCELLANEOUS PROVISIONS

     42.1.     In no event shall Tenant pay Landlord any sums on account of the
Fixed Rent for more than one (1) month in advance.

     42.2.     In the event that an excavation should be made for building or
other purposes upon land adjacent to the Building, or should be authorized to be
made, Tenant shall, subject to the provisions of Article 10 of this Lease, if
necessary, afford to the person or persons causing or authorized to cause such
excavation, license to enter upon the Premises for the purpose of doing such
work as shall reasonably be necessary to protect or preserve the wall or walls
of the Building, or the Building, from injury or damage and to support them by
proper foundations, pinning and/or underpinning.

     42.3.     From time to time during the Term, but not more than once in any
calendar year, upon ten (10) days prior request by Landlord, Tenant shall
accurately complete a report on a form provided by Landlord which requests the
following type of information with respect to Tenant's employment practices
within the Premises: number of full-time and part-time employees, number of
existing employees relocated to the Premises, number of new employees hired
after relocation to the Premises, number of minority employees and approximate
salary categorization of employees. The requirements of this Section 42.3 shall
be deemed to apply to any assignee of Tenant's interest herein and to any
sublessee of Tenant's interest in the Premises.

     42.4.     Tenant hereby pledges that it will not, during the Term of this
Lease, intentionally fail to hire any otherwise qualified applicant for
employment, or intentionally discriminate against any otherwise qualified
employee with respect to compensation or other terms, conditions and privileges
or employment at the Premises, solely on the basis of said individual's race,
creed, color, national origin, sex, age, marital status, sexual orientation or
physical handicap (provided such physically handicapped individual can satisfy
the essential requisites of the job or benefit in question). This pledge is made
on the express conditions that (a) any breach hereof shall not constitute a
default under the Lease and that the Landlord shall have no redress against
Tenant for breach of this pledge, (b) by virtue of Tenant's breach hereof, no
party shall have any additional claim, right or remedy against Tenant by virtue
of the execution of this pledge, nor shall Tenant have any greater liability to
any party other than that which exists under otherwise applicable Legal
Requirements, and (c) the agreements continued in this pledge extend only to
Landlord and no other person shall be deemed a third-party beneficiary thereof.

     42.5.     Any floor plans or space diagrams annexed to this Lease by
Landlord to show the area of the Premises are approximations only. Without
limiting Landlord's obligation to deliver a certification to Tenant pursuant to
Section 13.3, Landlord makes no representations concerning the illustrated
dimensions of the leased space or the location and size of the fixed
architectural elements shown on such plans or diagrams.

     42.6.     Tenant expressly acknowledges and agrees that Landlord and its
agents have not made and are not making, and Tenant, in executing and delivering
this Lease, is not relying upon, any warranties, representations, promises or
statements, except to the extent that the same are expressly set forth in this
Lease or in any other written agreement which may be made

                                      -95-

<PAGE>

between the parties concurrently with the execution and delivery of this Lease
and which expressly refers to this Lease.

     42.7.     This Lease shall be governed in all respects by the laws of the
State of New York.

     42.8.     If any term or provision of this Lease or the application thereof
to any person or circumstance 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 of this
Lease shall be valid and be enforced to the full extent permitted by law.

     42.9.     This Lease shall not be recorded. Either party shall, upon
request of the other, execute and deliver a statutory form of memorandum (for
the purpose of recording) of (a) this Lease, (b) any amendment to this Lease,(c)
any supplemental agreement pursuant to this Lease, and (d) any other documents
required in order to record such memoranda, but said memorandum of this Lease or
of any amendment to this Lease or of any supplemental agreement shall not in any
circumstances be deemed to modify or to change any of the provisions of this
Lease, any amendment thereto or any supplemental agreement.

     42.10.    (a) Tenant shall, for itself, its subtenants, and any assignee,
report to Landlord, for each calendar year included in whole or in part in the
period ending on the fifth (5th) anniversary of the commencement of this Lease,
by February 1 of the following year, the gross number of jobs at the Premises at
the end of the prior calendar year and the number of employees at such Premises
who were New York City residents and to submit to Landlord Form IA-5 (Employer's
Report of Unemployment Insurance Contributions). Except to the extent
contemplated in this Lease or otherwise in any document or instrument affecting
the Real Property, the Building or the Project of required by law, Landlord
shall use its best efforts to avoid disclosing, making known, divulging,
disseminating or communicating any of the information reported to Landlord on a
Landlord Form IA-5 without the express written consent of Tenant.

               (b) Tenant shall meet with the New York City Economic Development
Corporation or its successors ("EDC"), within ninety (90) days after EDC's
written request (which request shall not be made more often than once each
calendar year and shall be sent by certified or registered mail to the Tenant's
address as supplied to EDC by Landlord) on a date mutually agreeable to EDC and
Tenant, for the purpose of permitting EDC to deliver a presentation to Tenant
regarding EDC's City-wide or project specific employment programs. The agreement
of any tenant of the Building to meet with EDC as aforesaid shall not imply any
obligation of such tenant to take any action concerning such programs. The
failure by Tenant to provide such report or to meet with EDC shall not be a
default under this Lease, but Landlord reserves its right to seek specific
performance by Tenant of its obligations to submit its annual employment report
or to meet with EDC.

     42.11.    The table of contents, captions, headings and titles in this
Lease are solely for convenience of references and shall not affect is
interpretation. This Lease shall be construed without regard to any presumption
or other rule requiring construction against the party causing this Lease to be
drafted. Each covenant, agreement, obligation or other provision of this Lease
on Tenant's part to be performed shall be deemed and construed as a separate and
independent covenant of Tenant, not dependent on any other provision of this
Lease. All terms and words used in this Lease shall be deemed to include any
other number and any other gender as the context may require.

     42.12.    The effectiveness of this Lease shall be conditioned upon the
execution, delivery and effectiveness of the Ground Lease and shall be subject
to the terms and conditions of the Ground Lease as if each such term and
condition were recited in full in this Lease.

                                   ARTICLE 43

                                LETTER OF CREDIT

     43.1.     On or before the date which is ten (10) days after this Lease is
executed and delivered by the parties (i.e., released from escrow), Tenant shall
deliver to Landlord and shall thereafter, except as otherwise provided herein,
maintain in effect at all times during the Term, a

                                      -96-

<PAGE>

clean, stand-by, irrevocable letter of credit substantially in the form attached
hereto as Exhibit C, in the amount equal to (x) the Rentalized Amount minus (y)
Ten Million Dollars ($l0,000,000) (unless Tenant shall have elected to have the
Rentalized Amount be less than or equal to Ten Million Dollars ($l0,000,000),
issued by a banking corporation having assets of at least One Billion
($1,000,000,000.00) Dollars satisfactory to Landlord and having its principal
place of business or its duly licensed branch or agency in the City of New York,
and, if the issuing bank is not a member of the New York Clearing House
Association, confirmed by Citibank, N.A. or another bank reasonably satisfactory
to Landlord which is a member of the New York Clearing House Association, which
letter of credit may be presented for payment in the City of New York. Such
letter of credit shall have an expiration date no earlier than the first
anniversary of the date of issuance thereof and shall be automatically renewed
from year to year unless terminated by the issuer thereof by notice to Landlord
given by certified or registered mail, return receipt requested not less than
thirty (30) days prior to the expiration thereof. Except as otherwise provided
in this Article 43, Tenant shall, throughout the Term deliver to Landlord, in
the event of the termination of any such letter of credit, replacement letters
of credit acceptable to Landlord in lieu thereof (each such letter of credit and
each such extension or replacement thereof, as the case may be, is hereinafter
referred to as a "Letter of Credit") no later than thirty (30) days prior to the
expiration date of the preceding Letter of Credit. The term of each such Letter
of Credit shall be not less than one (1) year and shall be automatically
renewable from year to year as aforesaid. If Tenant shall fail to obtain any
replacements of a Letter of Credit within the time limits set forth in this
Section 43.1, Landlord may draw down the full amount of the existing Letter of
Credit and apply the proceeds to repayment to Landlord's lender of the then
outstanding balance of the Rentalized Amount, plus any breakage fees thereby
incurred by Landlord.

     43.2. In the event Tenant defaults in payment pursuant to Section
1.3(a)(iv) of the Rentalized Amount beyond any applicable notice and grace
period, Landlord may draw down the full amount of the existing Letter of Credit
and may apply the proceeds to repayment to Landlord's lender of the of the then
outstanding balance of the Rentalized Amount, plus any breakage fees thereby
incurred by Landlord. To insure that Landlord may use the proceeds of the
Letter of Credit in the manner, for the purposes, and to the extent provided in
this Article 43, each Letter of Credit shall provide that the full amount
thereof may be drawn down by Landlord upon presentation to the issuing or
confirming bank of Landlord's sight draft drawn on the issuing bank.

     43.3. If Tenant shall fully and faithfully comply with all of Tenant's
covenants and obligations under this Lease, the Letter of Credit or any portion
thereof the proceeds of which shall not have been applied pursuant to this
Article 43 shall be returned to Tenant within thirty (30) days after the
Expiration Date. In the event of any sale, transfer or leasing of Landlord's
interest in the Building, Landlord shall have the right to transfer any interest
it may have in the Letter of Credit, to the vendee, transferee or lessee and
Landlord shall thereupon be released by Tenant from all liability for the return
thereof, and Tenant shall look solely to the new landlord for return of same.
The provisions of the preceding sentence shall apply to every sale, transfer or
leasing of the Building, and any successor of Landlord may, upon a sale,
transfer, leasing or other cessation of the interest of such successor in the
Building, whether in whole or in part, transfer any interest it may have in the
Letter of Credit, as the case may be, to any vendee, transferee or lessee of the
Building, and shall thereupon be relieved of any liability with respect thereto.
In the event of a sale of the Building, Landlord shall have the right to require
Tenant to deliver a replacement Letter of Credit naming the new Landlord as
beneficiary and, if Tenant shall fail to deliver the same within thirty (30)
days after notice, to draw down the existing Letter of Credit and apply the
proceeds as provided in Section 43.1. Tenant shall not assign or encumber the
Letter of Credit and neither Landlord nor its successors or assigns shall be
bound by any such assignment, encumbrance, or attempted assignment or
encumbrance.

     43.4. Notwithstanding anything to the contrary in this Article 43,
commencing with the first (1st) anniversary of the Rent Commencement Date and
continuing on each anniversary of the Rent Commencement Date thereafter, Tenant
may substitute for the then existing Letter of Credit a replacement Letter of
Credit in an amount reduced by the same percentage which the outstanding balance
of the Rentalized Amount shall have been reduced by during the during the
preceding twelve (12) month period. By way of example, if on the Rent
Commencement Date the outstanding balance of the Rentalized Amount were
Twenty-Five Million Dollars ($25,000,000) and the Letter of Credit were Fifteen
Million Dollars ($l5,000,000), then if during the year preceding the first
(1st) anniversary of the Rent Commencement Date the outstanding balance of the
Rentalized Amount were reduced to Twenty-Four Million Dollars ($24,000,000),

                                      -97-

<PAGE>

then on the first (1st) anniversary of the Rent Commencement Date the amount of
the Letter of Credit would be permitted to be reduced to Fourteen Million Four
Hundred Thousand Dollars ($14,400,000).

                                      -98-

<PAGE>

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

LANDLORD:                        FOREST CITY MYRTLE ASSOCIATES, LLC

                                 By: /s/ Bruce C. Ratner
                                     ------------------------------
                                     Bruce C. Ratner, President

TENANT:                          EMPIRE HEALTHCHOICE, INC. d/b/a Blue
                                 Cross Blue Shield

                                 By: /s/ Michael A. Stocker
                                     ------------------------------
                                     Michael A. Stocker, CEO

                                      S-1

<PAGE>

                                    EXHIBIT A

                                     [PLAN]

                                       A-1

<PAGE>

                                     [PLAN]

                                      A-2

<PAGE>

                                     [PLAN]

                                      A-3

<PAGE>

                                   Exhibit B

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
Activity                                   Activity                                              Orig
   1D                                    Description                     Start        Finish     Dur
------------------------------------------------------------------------------------------------------
<S>                        <C>                                           <C>          <C>        <C>
MILESTONES

CONSTRUCTION
------------------------------------------------------------------------------------------------------
CORE/SHELL
------------------------------------------------------------------------------------------------------
   M2                Start Sheeting/Excavation                           01NOV01                 0
------------------------------------------------------------------------------------------------------
   M3                Complete Foundations                                            01APR02     0
------------------------------------------------------------------------------------------------------
   M4                Start Steel                                         02APR02                 0
------------------------------------------------------------------------------------------------------
   M5                Steel Top-out                                                   02AUG02     0
------------------------------------------------------------------------------------------------------
   M10               Permanent Power Available                                       27JAN03     0
------------------------------------------------------------------------------------------------------
   M6                Start Pre-cast                                      05JUN02                 0
------------------------------------------------------------------------------------------------------
   M8                Building Enclosure (windows/precast/curtainwall)                21NOV02     0
------------------------------------------------------------------------------------------------------
   M9                Complete Roofing                                                18DEC02     0
------------------------------------------------------------------------------------------------------
   M13               Elevator Turnover 1-4                                           08JAN03     0
------------------------------------------------------------------------------------------------------
   M12               Elevator Turnover SE9, SE10                                     06FEB03     0
------------------------------------------------------------------------------------------------------
   M14               Elevator Turnover 5-8                                           27MAR03     0
------------------------------------------------------------------------------------------------------
   M20               Core/Shell TCO                                                  01APR03     0
------------------------------------------------------------------------------------------------------
CONSTRUCTION

EXCAVATION/FOUNDATIONS
------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------
   1000              Excavation/foundations                              01NOV01*    01APR02     105
------------------------------------------------------------------------------------------------------
STEEL
------------------------------------------------------------------------------------------------------
PRE-CONSTRUCTION
------------------------------------------------------------------------------------------------------
   2000              Bid/award steel                                     01OCT01     31OCT01     23
------------------------------------------------------------------------------------------------------
   2002              Steel engineering/fabrication                       01NOV01     30APR02     126
------------------------------------------------------------------------------------------------------
CONSTRUCTION
------------------------------------------------------------------------------------------------------
   2043              Steel mobilize/build cranes                         19MAR02     01APR02     10
------------------------------------------------------------------------------------------------------
   2003              Steel/deck: level C 1                               02APR02     08APR02     5
------------------------------------------------------------------------------------------------------
   2004              Steel/deck: level 1                                 09APR02     15APR02     5
------------------------------------------------------------------------------------------------------
   2005              Steel/deck: level 2                                 16APR02     22APR02     5
------------------------------------------------------------------------------------------------------
   2006              Steel/deck: level 3                                 23APR02     29APR02     5
------------------------------------------------------------------------------------------------------
   2007              Steel/deck: level 4                                 30APR02     06MAY02     5
------------------------------------------------------------------------------------------------------
   2008              Steel/deck: level 5                                 07MAY02     10MAY02     4
------------------------------------------------------------------------------------------------------
   2009              Steel/deck: level 6                                 13MAY02     16MAY02     4
------------------------------------------------------------------------------------------------------
   2010              Steel/deck: level 7                                 17MAY02     22MAY02     4
------------------------------------------------------------------------------------------------------
   2011              Steel/deck: level 8                                 23MAY02     29MAY02     4
------------------------------------------------------------------------------------------------------
   2012              Steel/deck: level 9                                 30MAY02     04JUN02     4
------------------------------------------------------------------------------------------------------
   2013              Steel/deck: level 10                                05JUN02     10JUN02     4
------------------------------------------------------------------------------------------------------
   2014              Steel/deck: level 11                                11JUN02     14JUN02     4
------------------------------------------------------------------------------------------------------
   2015              Steel/deck: level 12                                17JUN02     20JUN02     4
------------------------------------------------------------------------------------------------------
   2016              Steel/deck: level 13                                21JUN02     26JUN02     4
------------------------------------------------------------------------------------------------------
   2017              Steel/deck: level 14                                27JUN02     02JUL02     4
------------------------------------------------------------------------------------------------------
   2018              Steel/deck: level 15                                03JUL02     09JUL02     4
------------------------------------------------------------------------------------------------------

<CAPTION>
------------------------------------------------------------------------------------------------------
<S>                                        <C>                          <C>
------------------------------------------------------------------------------------------------------
        2001                               2002                                   2003
------------------------------------------------------------------------------------------------------
   F O N D J F M A M I I A S O N D J A S O N D J F M A M J
------------------------------------------------------------------------------------------------------

    [_] Start Sheeting/Excavation

                                  [_] Complete Foundations

                                  [_] Start Steel

                                                  [_] Steel Top-out

                                                                   [_] Permanent Power Available

                                         [_] Start Pre-cast

                                   Building Enclosure (windows/precast/curtainwall) [_]

                                                                           [_] Complete Roofing

                                                                     [_] Elevator Turnover 1-4

                                                             Elevator Turnover SE9, SE 10 [_]

                                                             Elevator Turnover 5-8 [_]

                                                                                   [_] Core/Shell TCO
------------------------------------------------------------------------------------------------------

    [_______________] Excavation/foundations
------------------------------------------------------------------------------------------------------

    [____] Bid/award steel

    [____________________] Steel engineering/fabrication
------------------------------------------------------------------------------------------------------

             [_] Steel mobile/build cranes

              [_] Steel/deck level C 1

               [_] Steel/deck: level 1

                [_] Steel/deck: level 2

                 [_] Steel/deck: level 3

                  [_] Steel/deck: level 4

                   [_] Steel/deck: level 5

                    [_] Steel/deck: level 6

                     [_] Steel/deck: level 7

                      [_] Steel/deck: level 8

                       [_] Steel/deck: level 9

                        [_] Steel/deck: level 10

                          [_] Steel/deck: level 11

                           [_] Steel/deck: level 12

                            [_] Steel/deck: level 13

                             [_] Steel/deck: level 14

                               [_] Steel/deck: level 15
------------------------------------------------------------------------------------------------------------------------------------
Start Date      15FEB00                        9SOC                   Sheet 1 of 6
Finish Date     16JUN03
Data Date       01OCT01   Forest City Ratner           9 MTC South Project                            Lovell Silverman Construction
Run Date    11OCT01 08 47     COMPANIES              Forest City Ratner Companies            [LOGO]    Consultants
                                              Preliminary Project Schedule-10-10-01 Accel.            1200 MacArthur Blvd.
                                                                                                      Mahwah. NJ 07430
                                                                                                      201-327-3100
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                           ---------------------------------------------------------
 Activity               Activity                                     Orig       2001                2002                  2003
                                                                           ---------------------------------------------------------
    ID                Description              Start      Finish     Dur    F O N D J F M A M J J A S O N D J F M A M J
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>                               <C>         <C>        <C>    <C>       <C>                                 <C>
   2023     Steel/deck: level 16              10JUL02     15JUL02     4               [_] Steel/deck: level 16
--------------------------------------------------------------------------
   2028     Steel/deck: level 17              16JUL02     16JUL02     4                [_] Steel/deck: level 17
--------------------------------------------------------------------------
   2033     Steel/deck: level 18              22JUL02     25JUL02     4                 [_] Steel/deck: level 18
--------------------------------------------------------------------------
   2038     Steel/deck: level 19/roof         26JUL02     02AUG02     5                  [_] Steel/deck: level 19/roof
------------------------------------------------------------------------------------------------------------------------------------
CONCRETE
--------------------------------------------------------------------------
   3001     Concrete: level C 1               07MAY02     13MAY02     5               [_] Concrete: level C 1
--------------------------------------------------------------------------
   3002     Concrete: level 1                 14MAY02     20MAY02     5                [_] Concrete: level 1
--------------------------------------------------------------------------
   3003     Concrete: level 2                 21MAY02     28MAY02     5                 [_] Concrete: level 2
--------------------------------------------------------------------------
   3004     Concrete: level 3                 29MAY02     04JUN02     5                  [_] Concrete: level 3
--------------------------------------------------------------------------
   3005     Concrete: level 4                 05JUN02     11JUN02     5                   [_] Concrete: level 4
--------------------------------------------------------------------------
   3006     Concrete: level 5                 12JUN02     17JUN02     4                    [_] Concrete: level 5
--------------------------------------------------------------------------
   3007     Concrete: level 6                 18JUN02     21JUN02     4                     [_] Concrete: level 6
--------------------------------------------------------------------------
   3008     Concrete: level 7                 24JUN02     27JUN02     4                      [_] Concrete: level 7
--------------------------------------------------------------------------
   3009     Concrete: level 8                 28JUN02     03JUL02     4                       [_] Concrete: level 8
--------------------------------------------------------------------------
   3010     Concrete: level 9                 05JUL02     10JUL02     4                        [_] Concrete: level 9
--------------------------------------------------------------------------
   3011     Concrete: level 10                11JUL02     16JUL02     4                         [_] Concrete: level 10
--------------------------------------------------------------------------
   3012     Concrete: level 11                17JUL02     22JUL02     4                          [_] Concrete: level 11
--------------------------------------------------------------------------
   3013     Concrete: level 12                23JUL02     26JUL02     4                           [_] Concrete: level 12
--------------------------------------------------------------------------
   3014     Concrete: level 13                29JUL02     01AUG02     4                            [_] Concrete: level 13
--------------------------------------------------------------------------
   3015     Concrete: level 14                02AUG02     07AUG02     4                             [_] Concrete: level 14
--------------------------------------------------------------------------
   3016     Concrete: level 15                08AUG02     13AUG02     4                              [_] Concrete: level 15
--------------------------------------------------------------------------
   3021     Concrete: level 16                14AUG02     19AUG02     4                               [_] Concrete: level 16
--------------------------------------------------------------------------
   3026     Concrete: level 17                20AUG02     23AUG02     4                                [_] Concrete: level 17
--------------------------------------------------------------------------
   3031     Concrete: level 18                26AUG02     29AUG02     4                                 [_] Concrete: level 18
--------------------------------------------------------------------------
   3036     Concrete: level 19/roof           30AUG02     09SEP02     6                                  [_] Concrete: level 19/roof
------------------------------------------------------------------------------------------------------------------------------------
SPRAY-ON FIREPROOFING
--------------------------------------------------------------------------

--------------------------------------------------------------------------
   4001     SOFP: level C 1                   05JUN02     10JUN02     4               [_] SOFP: level C 1
--------------------------------------------------------------------------
   4002     SOFP: level 1                     12JUN02     17JUN02     4                [_] SOFP: level 1
--------------------------------------------------------------------------
   4003     SOFP: level 2                     18JUN02     21JUN02     4                 [_] SOFP: level 2
--------------------------------------------------------------------------
   4004     SOFP: level 3                     24JUN02     27JUN02     4                  [_] SOFP: level 3
--------------------------------------------------------------------------
   4005     SOFP: level 4                     28JUN02     03JUL02     4                   [_] SOFP: level 4
--------------------------------------------------------------------------
   4006     SOFP: level 5                     05JUL02     10JUL02     4                    [_] SOFP: level 5
--------------------------------------------------------------------------
   4007     SOFP: level 6                     11JUL02     16JUL02     4                     [_] SOFP: level 6
--------------------------------------------------------------------------
   4008     SOFP: level 7                     17JUL02     22JUN02     4                      [_] SOFP: level 7
--------------------------------------------------------------------------
   4009     SOFP: level 8                     23JUL02     26JUL02     4                       [_] SOFP: level 8
--------------------------------------------------------------------------
   4010     SOFP: level 9                     29JUL02     01AUG02     4                        [_] SOFP: level 9
--------------------------------------------------------------------------
   4011     SOFP: level 10                    02AUG02     07AUG02     4                         [_] SOFP: level 10
--------------------------------------------------------------------------
   4012     SOFP: level 11                    08AUG02     13AUG02     4                          [_] SOFP: level 11
--------------------------------------------------------------------------
   4013     SOFP: level 12                    14AUG02     19AUG02     4                           [_] SOFP: level 12
--------------------------------------------------------------------------
   4014     SOFP: level 13                    20AUG02     23AUG02     4                            [_] SOFP: level 13
--------------------------------------------------------------------------
   4015     SOFP: level 14                    26AUG02     29AUG02     4                             [_] SOFP: level 14
--------------------------------------------------------------------------
   4016     SOFP: level 15                    30AUG02     05SEP02     4                              [_] SOFP: level 15
--------------------------------------------------------------------------
   4021     SOFP: level 16                    10SEP02     13SEP02     4                               [_] SOFP: level 16
--------------------------------------------------------------------------
   4026     SOFP: level 17                    16SEP02     19SEP02     4                                [_] SOFP: level 17
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                  Sheet 2 of 6

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                           ---------------------------------------------------------
 Activity               Activity                                   Orig        2001                   2002                   2003
                                                                           ---------------------------------------------------------
    ID                Description               Start    Finish    Dur            F O N D J F M A M J J A S O N D J F M A M J
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>                                <C>       <C>       <C>     <C>    <C>                             <C>
   4031     SOFP: level 16                     20SEP02   25SEP02     4                              [_] SOFP: level 18
------------------------------------------------------------------------
   4036     SOFP: level 19/roof                26SEP02   04OCT02     4                               [_] SOFP: level 19
------------------------------------------------------------------------
PRE-CAST
------------------------------------------------------------------------
PRE-CONSTRUCTION
------------------------------------------------------------------------  -----------
   5000     Precast submittals/fabrication     02JAN02*  28JUN02   127                  Precast submittals/fabrication
                                                                           -----------
------------------------------------------------------------------------------------------------------------------------------------
   CONSTRUCTION
------------------------------------------------------------------------
   5005     Pre-cast panels: level 1           06NOV02   13NOv02     6                                [_]  Pre-cast panels:level 1
------------------------------------------------------------------------
   5006     Pre-cast panels: level 2           05JUN02   12JUN02     6            [_]  Pre-cast panels: level 2
------------------------------------------------------------------------
   5007     Pre-cast panels: level 3           13JUN02   20JUl02     6             [_]  Pre-cast panels: level 3
------------------------------------------------------------------------
   5008     Pre-cast panels: level 4           21JUN02   28JUl02     6              [_]  Pre-cast panels: level 4
------------------------------------------------------------------------
   5009     Pre-cast panels: level 5           01JUL02   09JUL02     6               [_]  Pre-cast panels: level 5
------------------------------------------------------------------------
   5010     Pre-cast panels: level 6           10JUL02   17JUL02     6                [_]  Pre-cast panels: level 6
------------------------------------------------------------------------
   5011     Pre-cast panels: level 7           18JUL02   25JUL02     6                 [_]  Pre-cast panels: level 7
------------------------------------------------------------------------
   5012     Pre-cast panels: level 8           26JUL02   02AUG02     6                  [_]  Pre-cast panels: level 8
------------------------------------------------------------------------
   5013     Pre-cast panels: level 9           05AUG02   12AUG02     6                   [_]  Pre-cast panels: level 9
------------------------------------------------------------------------
   5014     Pre-cast panels: level 10          13AUG02   20AUG02     6                    [_]  Pre-cast panels: level 10
------------------------------------------------------------------------
   5015     Pre-cast panels: level 11          21AUG02   28AUG02     6                     [_]  Pre-cast panels: level 11
------------------------------------------------------------------------
   5016     Pre-cast panels: level 12          29AUG02   06SEP02     6                      [_]  Pre-cast panels: level 12
------------------------------------------------------------------------
   5017     Pre-cast panels: level 13          09SEP02   16SEP02     6                       [_]  Pre-cast panels: level 13
------------------------------------------------------------------------
   5018     Pre-cast panels: level 14          17SEP02   24SEP02     6                        [_]  Pre-cast panels: level 14
------------------------------------------------------------------------
   5019     Pre-cast panels: level 15          25SEP02   02OCT02     6                         [_]  Pre-cast panels: level 15
------------------------------------------------------------------------
   5024     Pre-cast panels: level 16          03OCT02   10OCT02     6                          [_]  Pre-cast panels: level 16
------------------------------------------------------------------------
   5029     Pre-cast panels: level 17          11OCT02   18OCT02     6                           [_]  Pre-cast panels: level 17
------------------------------------------------------------------------
   5034     Pre-cast panels: level 18          21OCT02   28OCT02     6                            [_]  Pre-cast panels: level 18
------------------------------------------------------------------------
   5039     Pre-cast panels: level 19          29AUG02   05NOV02     6                             [_]  Pre-cast panels: level 19
------------------------------------------------------------------------------------------------------------------------------------
WINDOWS
------------------------------------------------------------------------
PRE-CONSTRUCTION
------------------------------------------------------------------------   -----------
   5501     Fabricate windows                  01FEB02*  05AUG02   130                  Fabricate windows
                                                                           -----------
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------
   5505     Windows - 2nd                      21JUN02   28JUN02     6            [_] Windows - 2nd
------------------------------------------------------------------------
   5506     Windows - 3rd                      01JUL02   09JUL02     6             [_] Windows - 3rd
------------------------------------------------------------------------
   5507     Windows - 4th                      10JUL02   17JUL02     6              [_] Windows - 4th
------------------------------------------------------------------------
   5508     Windows - 5th                      18JUL02   25JUL02     6               [_] Windows - 5th
------------------------------------------------------------------------
   5509     Windows - 6th                      26JUL02   02AUG02     6                [_] Windows - 6th
------------------------------------------------------------------------
   5510     Windows - 7th                      05AUG02   12AUG02     6                 [_] Windows - 7th
------------------------------------------------------------------------
   5511     Windows - 8th                      13AUG02   20AUG02     6                  [_] Windows - 8th
------------------------------------------------------------------------
   5512     Windows - 9th                      21AUG02   28AUG02     6                   [_] Windows - 9th
------------------------------------------------------------------------
   5513     Windows - 10th                     29AUG02   06SEP02     6                    [_] Windows - 10th
------------------------------------------------------------------------
   5514     Windows - 11th                     09SEP02   16SEP02     6                     [_] Windows - 11th
------------------------------------------------------------------------
   5515     Windows - 12th                     17SEP02   24SEP02     6                      [_] Windows - 12th
------------------------------------------------------------------------
   5516     Windows - 13th                     25SEP02   02OCT02     6                       [_] Windows - 13th
------------------------------------------------------------------------
   5517     Windows - 14th                     03OCT02   10OCT02     6                        [_] Windows - 14th
------------------------------------------------------------------------
   5518     Windows - 15th                     11OCT02   18OCT02     6                         [_] Windows - 15th
------------------------------------------------------------------------
   5519     Windows - 16th                     21OCT02   28OCT02     6                          [_] Windows - 16th
------------------------------------------------------------------------
   5520     Windows - 17th                     29OCT02   05NOV02     6                           [_] Windows - 17th
------------------------------------------------------------------------
   5521     Windows - 18th                     06NOV02   13NOV02     6                            [_] Windows - 18th
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
</TABLE>

                                  Sheet 3 of 6

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                ----------------------------------------------------
   Activity                    Activity                                     Orig    2001           2002              2003
                                                                                ----------------------------------------------------
      ID                      Description               Start    Finish     Dur   F O N D J F M A M J J A S O N D J F M A M J
------------------------------------------------------------------------------------------------------------------------------------
<S>                           <C>                      <C>       <C>        <C>     <C>            <C>               <C>
     5522     Windows - 19th                           14NOV02   21NOV02     6                          [_] Windows - 19th
------------------------------------------------------------------------------------------------------------------------------------
SOUTHEAST CURTAINWALL
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
     6000    Curtain wall                              21JUN02   21NOV02    108             [_____________] Curtain wall
--------------------------------------------------------------------------------
     6005    Hoist removal/close-in                    07FEB03   20MAR03     20                  Hoist removal/close-in [______]
------------------------------------------------------------------------------------------------------------------------------------
PRIMETER DRYWALL
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
     6505    Perimeter drywall - 2nd                   21AUG02   26AUG02      4       [_] Perimeter drywall - 2nd
--------------------------------------------------------------------------------
     6506    Perimeter drywall - 3rd                   27AUG02   30AUG02      4        [_] Perimeter drywall - 3rd
--------------------------------------------------------------------------------
     6507    Perimeter drywall - 4th                   03SEP02   06SEP02      4         [_] Perimeter drywall - 4th
--------------------------------------------------------------------------------
     6508    Perimeter drywall - 5th                   09SEP02   12SEP02      4          [_] Perimeter drywall - 5th
--------------------------------------------------------------------------------
     6509    Perimeter drywall - 6th                   13SEP02   18SEP02      4           [_] Perimeter drywall - 6th
--------------------------------------------------------------------------------
     6510    Perimeter drywall - 7th                   19SEP02   24SEP02      4            [_] Perimeter drywall - 7th
--------------------------------------------------------------------------------
     6511    Perimeter drywall - 8th                   25SEP02   30SEP02      4             [_] Perimeter drywall - 8th
--------------------------------------------------------------------------------
     6512    Perimeter drywall - 9th                   01OCT02   04OCT02      4              [_] Perimeter drywall - 9th
--------------------------------------------------------------------------------
     6513    Perimeter drywall - 10th                  07OCT02   10OCT02      4               [_] Perimeter drywall - 10th
 --------------------------------------------------------------------------------
     6514    Perimeter drywall - 11th                  11OCT02   16OCT02      4                [_] Perimeter drywall - 11th
--------------------------------------------------------------------------------
     6515    Perimeter drywall - 12th                  17OCT02   22OCT02      4                 [_] Perimeter drywall - 12th
--------------------------------------------------------------------------------
     6516    Perimeter drywall - 13th                  23OCT02   28OCT02      4                  [_] Perimeter drywall - 13th
--------------------------------------------------------------------------------
     6517    Perimeter drywall - 14th                  29OCT02   01NOV02      4                   [_] Perimeter drywall - 14th
--------------------------------------------------------------------------------
     6518    Perimeter drywall - 15th                  04OCT02   07NOV02      4                    [_] Perimeter drywall - 15th
--------------------------------------------------------------------------------
     6519    Perimeter drywall - 16th                  08OCT02   13NOV02      4                     [_] Perimeter drywall - 16th
--------------------------------------------------------------------------------
     6520    Perimeter drywall - 17th                  14NOV02   19NOV02      4                      [_] Perimeter drywall - 17th
--------------------------------------------------------------------------------
     6521    Perimeter drywall - 18th                  22NOV02   27NOV02      4                       [_] Perimeter drywall - 18th
--------------------------------------------------------------------------------
     6522    Perimeter drywall - 19th                  29NOV02   04DEC02      4                        [_] Perimeter drywall - 19th
------------------------------------------------------------------------------------------------------------------------------------
ELEVATORS
--------------------------------------------------------------------------------
 PARKING GARAGE ELEVATORS (11, 12)
--------------------------------------------------------------------------------
     7007    Elevators 11/12                           27JUN02   11OCT02     75         [____________] Elevators 11/12
------------------------------------------------------------------------------------------------------------------------------------
 SERVICE ELEVATORS (SE9, SE10)
--------------------------------------------------------------------------------
     7016    Rails & brackets                          05AUG02   28OCT02     60                           [_____] Rails & brackets
--------------------------------------------------------------------------------
     7027    EMT dry                                   17SEP02                0                              | EMR dry
--------------------------------------------------------------------------------
     7028    Hoistway/EMR equipment & winng/cabs       17SEP02   23JAN03     90  Hoistway/EMT & wiinng/cabs [__________]
--------------------------------------------------------------------------------
     7034    Test & Adjust SE9, SE10                   24JAN03   06FEB03     10                         [__] Test & Adjust SE9. SE10
------------------------------------------------------------------------------------------------------------------------------------
 ELEVATORS 1-4 (LOW RISE)
--------------------------------------------------------------------------------
     7035    Rails & brackets                          27JUN02   06SEP02     50         [_________] Rails & brackets
--------------------------------------------------------------------------------
     7046    EMR dry                                   02AUG02                0                  | EMR dry
--------------------------------------------------------------------------------
     7047    Hoistway/EMR equipment & winng/cabs       09SEP02   02DEC02     50                    [__________] Hoistway/EMR
                                                                                                                 equipmenmt & winng/
                                                                                                                 cass
--------------------------------------------------------------------------------
     7053    Test & adjust LR Elev 1-4                 03DEC02   08JAN03     25                      [___] Test & Adjust LR Eleb 1-4
------------------------------------------------------------------------------------------------------------------------------------
 ELEVATORS 5-8 (HIGH RISE)
--------------------------------------------------------------------------------
     7055    Rails & brackets                          05AUG02   11NOV02     70
--------------------------------------------------------------------------------
     7064    EMR dry                                   08OCT02                0
--------------------------------------------------------------------------------
     7065    Hoistway/EMR equipment & winng/cabs       08OCT02   27FEB03    100
--------------------------------------------------------------------------------
     7071    Test & adjust LR Elev 5-8                 26FEB03   27MAR03     20
------------------------------------------------------------------------------------------------------------------------------------
 ROOF
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
     8001    4th floor roof                            01JUL02   29JUl02     20                 [___] 4th floor roof
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                  Sheet 4 of 6

<PAGE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
Activity                        Activity                                                                   Orig
   ID                          Description                                Start            Finish          Dur
--------------------------------------------------------------------------------------------------------------
<S>                            <C>                                       <C>             <C>                <C>
  8002    6th floor roof                                                 30JUL02         26AUG02            20
--------------------------------------------------------------------------------------------------------------
  0003    PH roof                                                        06NOV02         18DEC02            30
--------------------------------------------------------------------------------------------------------------
FIRE PROTECTION
--------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------
  9003    Standpipe risers/core branches/loops (thru 10)                 03JUN02         01OCT02            85
--------------------------------------------------------------------------------------------------------------
  9004    Standpipe risers/core branches/loops (11th-19th)               20OCT02         31JAN03            85
--------------------------------------------------------------------------------------------------------------
  9006    Fire Pumps                                                     10JAN03         06MAR03            40
--------------------------------------------------------------------------------------------------------------
HVAC SYSTEMS
--------------------------------------------------------------------------------------------------------------
HVAC RISERS
--------------------------------------------------------------------------------------------------------------
  9101    Fuel oil tank delivery                                         23APR02         23APR02             1
--------------------------------------------------------------------------------------------------------------
  9102    Air handling unit deliveries (thru 10th)                       29MAY02         21AUG02            60
--------------------------------------------------------------------------------------------------------------
  9104    Air handling unit deliveries (11th-19th)                       22AUG02         14NOV02            60
--------------------------------------------------------------------------------------------------------------
  9103    Fuel oil risers (thru 10th)                                    01JUL02         19SEP02            57
--------------------------------------------------------------------------------------------------------------
  9105    Fuel oil risers (11th-19th)                                    20SEP02         10DEC02            57
--------------------------------------------------------------------------------------------------------------
  9300    HVAC ductwork/pipe risers (thru 10th)                          11JUL02         03OCT02            60
--------------------------------------------------------------------------------------------------------------
  9301    HVAC ductwork/pipe risers (11th-19th)                          04OCT02         30DEC02            60
--------------------------------------------------------------------------------------------------------------
ROOF
--------------------------------------------------------------------------------------------------------------
  9118    Rig roof equipment                                             03SEP02         30SEP02            20
--------------------------------------------------------------------------------------------------------------
  9106    Boiler. C.T., HX piping/start-up                               17SEP02         01APR03           138
--------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------
  9112    Air conditioning available                                                     01APR03             0
--------------------------------------------------------------------------------------------------------------
  9117    Heat available                                                                 01APR03             0
--------------------------------------------------------------------------------------------------------------

LOBBY WORK
--------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------
 10001    Lobby MEP rough-in                                             03OCT02         13JAN03            70
--------------------------------------------------------------------------------------------------------------
 10003    Lobby ceilings/walls                                           21NOV02         24FEB03            65
--------------------------------------------------------------------------------------------------------------
 10005    Lobby interior finishes                                        07JAN03         31MAR03            60
--------------------------------------------------------------------------------------------------------------
STOREFRONTS
--------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------
 10010    Storefronts                                                    06NOV02         12MAR03            88
--------------------------------------------------------------------------------------------------------------
SHAFT/CORE WALL DEVELOPMENT
--------------------------------------------------------------------------------------------------------------
CORE SHAFT
--------------------------------------------------------------------------------------------------------------
 11000    Core walls/elec. closet build-out (thru 10th)                  22AUG02         20NOV02            64
--------------------------------------------------------------------------------------------------------------
 11001    Core walls/elec. closet build-out (11th-19th)                  21NOV02         21FEB03            64
--------------------------------------------------------------------------------------------------------------
ELECRIAL
--------------------------------------------------------------------------------------------------------------
SERVICE GEAR
--------------------------------------------------------------------------------------------------------------
 12200    Set/assemble switchboards/terminate & inspect                  31JUL02         19DEC02           100
--------------------------------------------------------------------------------------------------------------
CON ED
--------------------------------------------------------------------------------------------------------------
 12306    Set atmrs/netwk protectors & service work                      24OCT02         27JAN03            65
--------------------------------------------------------------------------------------------------------------
 12309    Permanent power available                                                      27JAN03             0
--------------------------------------------------------------------------------------------------------------
ELECTRICAL RISERS/CLOSETS
--------------------------------------------------------------------------------------------------------------
 12400    Electrical risers (thru 10th)                                  11JUL02         29OCT02            78
--------------------------------------------------------------------------------------------------------------
 12402    Electrical risers (11th-19th)                                  30OCT02         19FEB03            78
--------------------------------------------------------------------------------------------------------------
 12401    Electrical/telephone closets (thru 10th)                       04OCT02         20DEC02            55
--------------------------------------------------------------------------------------------------------------
 12403    Electrical/telephone closets (11th-19th)                       23DCE02         11MAR03            55
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------

<CAPTION>
---------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------
2001             2002                  2003
---------------------------------------------------------------------------------------------------------------------------
S O N D J F M A M J J A S O N D J F M A M J
---------------------------------------------------------------------------------------------------------------------------
<S>                                                        <C>
                      ----
                            6th floor roof
                      ----

                                   -------
                                           PH roof
                                   -------
---------------------------------------------------------------------------------------------------------------------------

                  ---------------
                                  Standpipe risers/core branches/loops (thru 10)
                  ---------------

                                                           ----------------------
         Standpipe risers/core branches/loops (11th-19th)
                                                           ----------------------

                                                                            ---------
                                                                                      Fire Pumps
                                                                            ---------
---------------------------------------------------------------------------------------------------------------------------

                    ||  Fuel oil tank delivery

                                      ------------
                                                   Air handling unit deliveries (thru 10th)
                                      ------------

                                                  ------------
                                                               Air handling unit deliveries (11th-19th)
                                                  ------------

                                           -----------
                                                       Fuel oil risers (thru 10th)
                                           -----------

                                                       -----------
                                                                   Fuel oil risers (11th-19th)
                                                       -----------

                                              ------------
                                                           HVAC ductwork/pipe risers (thru 10th)
                                              ------------

                                                           ------------
                      HVAC ductwork/pipe risers (11th-19th)
                                                           ------------
---------------------------------------------------------------------------------------------------------------------------

                                                          ------
                                                                 Rig roof equipment
                                                          ------

                                                      ----------------------------------
                      Boiler.C.T., HX piping/start-up
                                                      ----------------------------------
---------------------------------------------------------------------------------------------------------------------------

                                                             Air conditioning Available|

                                                                                       | Heat available
---------------------------------------------------------------------------------------------------------------------------

                                                                      --------------
                                                                                     Lobby MEP rough-in
                                                                      --------------

                                                                              ------------
                                                                                           Lobby ceilings/walls
                                                                              ------------

                                                                                       ------------
                                                               Lobby interior finishes
                                                                                       ------------
---------------------------------------------------------------------------------------------------------------------------

                                                                            --------------------
                                                                                                 Storefronts
                                                                            --------------------
---------------------------------------------------------------------------------------------------------------------------

                                                                --------------
                                                                               Core walls/elec.closet build-out (thru 10th)
                                                                --------------

                                                                              --------------
                                  Core walls/elec.closet build-out (11th-19th)
                                                                              --------------
---------------------------------------------------------------------------------------------------------------------------

                                                              -----------------------
                Set/assemble switchboards/terminate & inspect
                                                              -----------------------
---------------------------------------------------------------------------------------------------------------------------

                                                                           --------------
                                 Set atmrs/netwk protectors & service work
                                                                           --------------

                                                                                         | Permanent power available
---------------------------------------------------------------------------------------------------------------------------

                                                           ----------------
                                                                            Electrical risers (thru 10th)
                                                           ----------------

                                                                           ----------------
                                              Electrical risers (11th-19th)
                                                                           ----------------

                                                                      -------------
                             Electrical/telephone closets (thru 10th)
                                                                      -------------

                                                                                   -------------
                                           Electrical/telephone closets (11th-19th)
                                                                                   -------------
===========================================================================================================================
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------

Activity                      Activity                                               Orig

   ID                        Description                      Start       Finish     Dur
-----------------------------------------------------------------------------------------
<S>                         <C>                               <C>        <C>         <C>
EMERGENCY GENERATOR
-----------------------------------------------------------------------------------------
   12501  Set/build-out Generator                             08OCT02     13FEB03     90
-----------------------------------------------------------------------------------------
FIRE ALARM
-----------------------------------------------------------------------------------------
   12700  FA users & boxes (class E lie-ins)(thru 10th)       15AUG02     19NOV02
-----------------------------------------------------------------------------------------
   12701  FA users & boxes (class E lie-ins)(11th-19th)       20NOV02     26FEB03     60
-----------------------------------------------------------------------------------------
   12702  Fire alarm devices (thru 10th)                      31DEC02     11FEB03     30
-----------------------------------------------------------------------------------------
   12703  Fire alarm devices (11th-19th)                      12FEB03     25MAR03     30
-----------------------------------------------------------------------------------------
PLUMBING
-----------------------------------------------------------------------------------------
RISERS
-----------------------------------------------------------------------------------------
   13100  Plumbing users (thru 10th)                          18JUL02     23OCT02     69
-----------------------------------------------------------------------------------------
   13101  Plumbing users (11th-19th)                          24OCT02     31JAN03     69
-----------------------------------------------------------------------------------------
TOILET ROOM DEVELOPMENT
-----------------------------------------------------------------------------------------
   13700  Rough-in (thru 10th)                                22AUG02     05NOV02     53
-----------------------------------------------------------------------------------------
   13701  Rough-in (11th-19th)                                06NOV02     22JAN03     53
-----------------------------------------------------------------------------------------
   13702  Fixtures (thru 10th)                                16DEC02     28JAN03     30
-----------------------------------------------------------------------------------------
   13703  Fixtures (11th-19th)                                29JAN03     11MAR03     30
-----------------------------------------------------------------------------------------
SITEWORK
-----------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------
   10015  Sitework                                            17MAR03*    16JUN03     65
-----------------------------------------------------------------------------------------
TESTING
-----------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------
   13707  Test/sign-off                                       12MAR03     01APR03     15
-----------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
              2001                 2002               2003
--------------------------------------------------------------------------------
             F O N D I F I M A M I I A S O N D I F M A M I
--------------------------------------------------------------------------------
<S>           <C>                  <C>                <C>
                             -------
                                    Set/build-out Generator
                             -------
--------------------------------------------------------------------------------

           ------
                 FA users & boxes (class E lie-ins)(thru 10th)
           ------
                                                        ------------
           FA users & boxes (class E lie-ins)(11th-19th)
                                                        ------------
                                                            -----
                              Fire alarm devices (thru 10th)
                                                            -----

                                                               ------
                                 Fire alarm devices (11th-19th)
                                                               ------
------------------------------------------------------------------------

          ---------
                   Plumbing users (thru 10th)
          ---------
                    ----------
                              Plumbing users (11th-19th)
                    ----------
------------------------------------------------------------------------

              ----------
                        Rough-in (thru 10th)
              ----------
                        ------------
                                    Rough-in (11th-19th)
                        ------------
                               -------
                                      Fixtures (thru 10th)
                               -------
                                     -------
                                            Fixtures (11th-19th)
                                     -------
------------------------------------------------------------------------

                                             ------------
                                     Sitework
                                             ------------
------------------------------------------------------------------------

                                             --------
                                                     Test/sign-off
                                             --------
------------------------------------------------------------------------
</TABLE>

<PAGE>

                                    EXHIBIT C

                           FORM OF LETTER OF CREDIT

ISSUE DATE: ____________, 200_                    L/C NO.:__________

APPLICANTS:

EMPIRE HEALTHCHOICE, INC.
EMPIRE HEALTHCHOICE ASSURANCE, INC.
EMPIRE HEALTHCHOICE HMO, INC.

BENEFICIARY:                                      AMOUNT: USD___________

FOREST CITY MYRTLE ASSOCIATES, LLC

BENEFICIARY ADDRESS:

_________________

_________________

_________________

GENTLEMEN:

WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO.____________ IN
FAVOR OF FOREST CITY MYRTLE ASSOCIATES, LLC (THE "LANDLORD") FOR AN AGGREGATE
AMOUNT NOT TO EXCEED U.S. DOLLARS ______________. THIS LETTER OF CREDIT IS
AVAILABLE AGAINST PRESENTATION OF YOUR DRAFT AT SIGHT DRAWN ON THE BANK OF NEW
YORK, AT OUR COUNTERS AT 101 BARCLAY STREET, NEW YORK, NEW YORK (OR AT SUCH
OTHER OFFICE IN NEW YORK CITY AS WE SHALL NOTIFY YOU IN WRITING FROM TIME TO
TIME) WHEN ACCOMPANIED BY THE FOLLOWING:

     BENEFICIARY'S DATED STATEMENT PURPORTEDLY SIGNED BY ONE OF ITS OFFICIALS
     READING AS FOLLOWS: "THE BENEFICIARY IS ENTITLED TO DRAW AGAINST THE BANK
     OF NEW YORK LETTER OF CREDIT NUMBER ___________ PURSUANT TO THAT CERTAIN
     LEASE AGREEMENT DATED AS OF JANUARY 17, 2002 BY AND BETWEEN FOREST CITY
     MYRTLE ASSOCIATES, LLC, AS LANDLORD, AND EMPIRE HEALTHCHOICE, INC. D/B/A
     BLUE CROSS/BLUE SHIELD, AS TENANT."

PARTIAL AND MULTIPLE DRAWINGS ARE PERMITTED. WE FURTHER UNDERTAKE THAT ANY
DRAFT(S) PRESENTED UNDER THIS LETTER OF CREDIT SHALL BE PAID.

THIS LETTER OF CREDIT EXPIRES AT OUR COUNTERS IN NEW YORK WITH OUR CLOSE OF
BUSINESS ON __________,200_ (the date that is 12 months after the date hereof).

IT IS A CONDITION OF THIS IRREVOCABLE LETTER OF CREDIT THAT IT SHALL BE
AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR AN ADDITIONAL PERIOD OF ONE YEAR
FROM THE PRESENT OR EACH FUTURE EXPIRATION DATE, UNLESS AT LEAST 30 DAYS PRIOR
TO SUCH DATE WE SEND YOU NOTICE IN WRITING BY REGISTERED MAIL, OR HAND DELIVERY,
AT THE ABOVE ADDRESS, THAT WE ELECT NOT TO RENEW THIS LETTER OF CREDIT FOR SUCH
ADDITIONAL

<PAGE>

PERIOD. HOWEVER IN NO EVENT SHALL THIS LETTER OF CREDIT BE EXTENDED BEYOND THE
FINAL EXPIRY DATE OF _____________. UPON SUCH NOTICE TO YOU, YOU MAY DRAW DRAFTS
ON US AT SIGHT FOR AN AMOUNT NOT TO EXCEED THE BALANCE REMAINING IN THIS LETTER
OF CREDIT WITHIN THE THEN APPLICABLE EXPIRY DATE, ACCOMPANIED BY YOUR DATED
STATEMENT PURPORTEDLY SIGNED BY ONE OF YOUR OFFICIALS READING: "THE AMOUNT OF
THIS DRAWING USD _____________ UNDER THE BANK OF NEW YORK LETTER OF CREDIT
NUMBER _____________ REPRESENTS FUNDS DUE US AS WE HAVE RECEIVED NOTICE FROM THE
BANK OF NEW YORK OF ITS DECISION NOT TO EXTEND LETTER OF CREDIT NUMBER _________
FOR AN ADDITIONAL YEAR, AND THE LEASE IS STILL OUTSTANDING."

THIS LETTER OF CREDIT IS TRANSFERABLE IN ITS ENTIRETY (BUT NOT IN PART) TO A
SUCCESSOR LANDLORD. WE SHALL NOT RECOGNIZE ANY TRANSFER OF THIS LETTER OF CREDIT
UNTIL THIS ORIGINAL LETTER OF CREDIT TOGETHER WITH ALL AMENDMENTS AND A SIGNED
AND COMPLETED TRANSFER FORM AS PER EXHIBIT A ATTACHED HERETO IS RECEIVED BY US.

ALL TRANSFER FEES ARE FOR THE ACCOUNT OF THE APPLICANTS.

THE CORRECTNESS OF THE SIGNATURE AND TITLE OF THE PERSON SIGNING THE TRANSFER
FORMS MUST BE VERIFIED BY YOUR BANK.

IN CASE OF ANY TRANSFER UNDER THIS LETTER OF CREDIT, THE DRAFT(S) AND ANY
REQUIRED STATEMENT MUST BE EXECUTED BY A PURPORTED OFFICIAL OF THE TRANSFEREE.

THIS LETTER OF CREDIT MAY NOT BE TRANSFERRED TO ANY PERSON WITH WHICH U.S.
PERSONS ARE PROHIBITED FROM DOING BUSINESS UNDER U.S. FOREIGN ASSETS CONTROL
REGULATIONS OR OTHER APPLICABLE U.S. LAWS AND REGULATIONS.

ALL CORRESPONDENCE AND ANY DRAWINGS PRESENTED IN CONNECTION WITH THIS LETTER OF
CREDIT ARE TO BE DIRECTED TO OUR OFFICE AT 101 BARCLAY STREET, NEW YORK, NEW
YORK (OR AT SUCH OTHER OFFICE IN NEW YORK CITY AS WE SHALL NOTIFY YOU IN WRITING
FROM TIME TO TIME). CUSTOMER INQUIRY NUMBERS AT OUR BANK ARE 212-905-8592 AND
212-905-8533. WE HEREBY ISSUE THIS STANDBY LETTER OF CREDIT IN YOUR FAVOR. IT IS
SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (1994)
REVISION, ICC PUBLICATION NUMBER 500 ("UCP") AND, AS TO MATTERS NOT COVERED BY
THE UCP, IS SUBJECT TO NEW YORK LAW. THE DATE OF OUR CREDIT AND THE NAME OF OUR
BANK MUST APPEAR ON ALL DRAFTS REQUIRED.

                                       THE BANK OF NEW YORK

                                       BY:__________________

                                      -2-

<PAGE>

                                    EXHIBIT D

                             SAMPLE STATEMENT DETAIL

Wages
Payroll and Hospitalization Insurance
Security Services
Electricity
Gas
Oil
Water and Sewer
Submetering Service
Cleaning
Rubbish Removal
Exterminating
Repairs and Maintenance
Elevator Maintenance
Supplies
Fire Safety
Interior Landscaping
Exterior Landscaping
Insurance
Management Fee
Consulting Fee
Professional Fees
Stationary
Telephone
Miscellaneous Operating Expenses

<PAGE>

                                    EXHIBIT E

                                BUILDING HOLIDAYS

1.  New Year's Day

2.  Martin Luther King Day

3.  Washington's Birthday (President's Day)

4.  Memorial Day

5.  Independence Day

6.  Labor Day

7.  Thanksgiving Day

8.  the day following Thanksgiving Day

9.  Christmas Day

                                       E-1

<PAGE>
                                    EXHIBIT F
                             CLEANING SPECIFICATIONS
                              ONE METROTECH CENTER
                         TENANT CLEANING SPECIFICATIONS

GENERAL CLEANING
Nightly

     Nightly (i.e., after 5:00 p.m.) services shall be rendered five (5) nights
each week. No Saturday, Sunday or Holiday services (holidays are those days
stated in Exhibit E of this Lease).

     Damp and/or mop and sweep floors, removing gum and tar, as needed to
maintain in clean condition throughout the Building, including tenant spaces,
entrance foyers, vestibules and all public areas, including Building corridors,
all stone, ceramic tile, marble, terrazzo, asphalt tile, linoleum, rubber, vinyl
and other type of flooring to insure dust-free floors with special attention to
hard to reach areas.

     Carpet sweep nightly all carpeted areas and rugs, moving light furniture
other than desks, file cabinets, etc. and vacuum at night once per week.

     Empty and damp wipe all wastepaper baskets and disposal receptacles, wash
ash trays, sanitary cans, wastepaper towel cans and any other receptacles.
(Install liners as necessary, liners supplied by owner at Tenant's cost).

     Collect and remove from Building wastepaper and all rubbish from normal
operation of Building to a designated area in the Premises, daily.

     Dust and wipe clean all furniture, telephones, cabinets, window sills, door
casings, and clean all glass tables and desk tops with impregnated cloths, as
needed.

     Damp wipe and disinfect all telephones, including dials or buttons and
crevices.

     Remove all finger marks, smudges, scuff marks, gum or foreign matter from
glass desk tops, glass table tops, glass directory boards, metal partitions and
other marks from walls, window sill frames and other similar surfaces, and glass
table cabinets, as necessary.

     Wipe clean all metal door knobs, kick plates, directional signs, door
saddles, mail chutes and all metals.

Lavatories & Rest Rooms Nightly

     Sweep, scrub and/or wash and dry all flooring with approved germicidal
detergent solution using spray tank method, to remove all spills, smears,
scuff marks and foot tracks throughout.

     Wash and polish all mirrors, powder shelves, brightwork, enamel surfaces,
including flushometers, piping toilet seat hinges and all metal.

     Scour, wash and disinfect all basins, bowls and urinals with approved
germicidal detergent solution, including tile walls near urinals. Upon
completion, pour one ounce of bowl cleaner into urinal and do not flush.

     Wash both sides of all toilet seats with approved germicidal detergent
solution.

     Disinfect and damp wipe and wash all partitions, enamel surfaces, tile
walls, dispensers, doors and receptacles. Empty and clean paper towel and
sanitary disposal receptacles. Remove wastepaper and refuse, including soiled
sanitary napkins to a designated area in the Premises and dispose of same. All
wastepaper receptacles to be thoroughly cleaned and washed.

     If applicable, wash and wax all resilient tile floors in toilet powder
rooms, or vacuum if carpeted. Spot clean and shampoo, as needed.

                                       F-1

<PAGE>

     Fill and maintain mechanical operation of all toilet tissue holders (with
two-ply toilet tissue), soap dispensers and towel dispensers and fill, maintain
and collect money from any sanitary napkin machines.

     Remove stains as necessary, clean underside of rims of urinals and bowls.

     It is the intention to keep lavatories thoroughly clean and not to use a
disinfectant to mask odors. If disinfectants are necessary, an odorless
disinfectant shall be used.

Periodic Cleaning Lavatories & Rest Rooms

     Machine scrub floor as necessary, with approved germicidal detergent
solution.

     Wash and polish all partitions, tile walls and enamel surfaces from ceiling
to floor as necessary, but not less than once per month using proper
disinfectant.

     Do all high (i.e., over 80") dusting approximately once a month.

     Wash all painted wall surfacing as needed, but not less than once every two
(2) months.

     Clean urinals and bowls with scale-solvent as needed, but not less than
once a week.

Public Areas & Elevator Landings

     Machine scrub flooring, as necessary.

     Clean lights, globes, diffusers and fixtures as often as necessary.

     Dust down and wash lobby and stairway walls, flooring to ceiling, as
necessary, but not less than once per month. Wipe clean and polish all brass,
stainless steel, metal and other bright work using a non-acid polish.

     High (i.e., over 80") Dusting - Office Area

     Do all high dusting every three (3) months, unless otherwise specified,
including the following:

     Vacuum and dust all pictures, frames, charts, graphs and similar wall
hangings not reached in nightly cleaning. Damp dust, as required.

     Once a month, dust and wash all door louvers and other ventilating louvers
within reach

     Wash and remove all fingermarks, ink stains, smudges, scuff marks and other
marks from metal partitions, sills, all vertical surfaces (doors, walls, window
sills, saddles) including elevator doors and other surfaces, as necessary.

     All marble and terrazzo walls, elevator, stairway, office and utility doors
to be washed, as necessary, using clear water or approved cleanser.

     Wash light fixtures, including reflectors, globes, diffuses and trim,
annually.

     Vacuum, clean and polish car and corridor saddles of elevator doors on all
floors, as needed.

     Clean all vertical surfaces not attended to in nightly, weekly, quarterly
or semi-annual cleaning.

                                      F-2

<PAGE>

                                   EXHIBIT G
                                LOUVER LOCATIONS
                 [PLAN OF METROTECH CENTER - BUILDING 9 SOUTH]

<PAGE>
                                    EXHIBIT J

                                     PART I

                               BASE BUILDING WORK

                               TENANT WORK LETTER

                                      AND

                             M.E.P. DESIGN CRITERIA

                                       FOR

                            9 METROTECH CENTER SOUTH

                                       FOR

                          FOREST CITY RATNER COMPANIES

                                   ARCHITECT:

                        SWANKE HAYDEN CONNELL ARCHITECTS

                                  PREPARED BY:

                              COSENTINI ASSOCIATES
                             TWO PENNSYLVANIA PLAZA
                               NEW YORK, NY 10121

                         Empire Blue Cross Lease Version

                                 November 2, 2001

                                       J-1

<PAGE>

       I.  HVAC OUTLINE SYSTEM DESCRIPTION AND DESIGN CRITERIA

     A.   HVAC BASE BUILDING DESIGN CRITERIA

          1.   System Performance Criteria

               a.   Cooling/Heating Design Criteria Used to Size All Base
                    Building Air Conditioning Equipment serving Tenant Floors.
                    For both winter/summer purposes the use of interior shading
                    in the cooling load calculation and winter heating load
                    criteria is excluded

               b.   Summer Design Temperatures

                    Outdoor -95(degrees)F.D.B. - 75(degrees)F.W.B. (78(degrees)
                    W.B. Cooling Tower)
                    Indoor - 74(degrees)F.D.B. - 50% R.H.

               c.   Winter Design Temperatures

                    Outdoor - 5(degrees)F DB

                    Indoor - 72(degrees) DB (No added humidification)

                    .    Population - 1 person per 100 sq. ft. useable area.
                    .    Ventilation - 20 cfm per person (ASHRAE 62-89R)
                    .    Normal working hours 8:00 a.m. - 6:00 p.m. Monday -
                         Friday.
                    .    Tenant Lighting & Power
                    .    Cooling for 5w/sq.ft. useable office area.
                    .    Tenant Condenser Water - 24/365 capacity for
                         supplemental air conditioning tenant.

                         -    1 ton/1500 useable sq.ft. on Tenant floor.
                              Provided 2 1/2" valved outlets off condenser riser
                              located in fan room. Tenant to connect to riser at
                              core. Cost of supplemental is $ $300/ton/year with
                              no connection charge.

                    .    After hours air conditioning and heating. Tenant may
                         request after hours air conditioning and heating.
                         Tenant shall pay the actual cost of after hours air
                         conditioning.

                         -    Supply design air temperature leaving the unit is
                              55(degrees)F.

                    .  The summer load sizing criteria does not include the use
                       of interior shading.
                    .  The winter heating load criteria does not include a
                       tenant interior heating load.

          2.   Acoustical Criteria

               Within ten feet of fan room, NC 40 with an NC 35 in the balance
               of the areas

B.   HVAC BASE BUILDING SYSTEM DESCRIPTION

     1.   General

          a.   Air quality standards as defined by ASHRAE 62-89R will be
               maintained.

                                       J-2

<PAGE>

          b.   Medium efficiency (minimum 60%) air filtration will be utilized
               in the typical floor by floor, DX units serving occupied areas.

          c.   Floor by floor DX units will be provided with fully drainable
               cooling coil drain pans, single wall construction, high
               efficiency centrifugal fans or plug fans, inverter drives on VAV
               systems. Water-side economizer will be used for "free cooling" in
               winter.

          d.   Materials, equipment and systems installed shall meet all
               pertinent requirements of all authorities having jurisdiction and
               local codes.

          e.   Where mandated by code, non-structural system components will be
               seismically designed (zone 2) to resist the earthquake effects in
               accordance with the New York City Building Code.

          f.   Spill air fans, which serves as Smoke Exhaust in a fire mode can
               be used to purge VOC's from the floor on a scheduled basis by
               Landlord. 100% make-up damper will be provided in fresh air duct
               for purge cycle.

C.   AIR CONDITIONING FOR GENERAL OFFICE SPACES

     1.   DX Unit System Design (Base Building)

          (Floor By Floor Package DX Unit)

          a.   The units will have a minimum four-inch construction in their fan
               and plenum section. 20kW electric heating coil sections will be
               provided for morning warm-up. Make-up air is filtered and heated
               (50(degrees)F max).

          b.   The typical office floors will receive conditioned air from
               individual floor packaged, water cooled DX variable air volume
               (VAV) units. All units are provided with condenser water from the
               building's central condenser water system. All DX units will be
               good quality air handling construction complete with centrifugal
               fans, insulated construction, DX coils, free cooling coils,
               internal coil piping, internal sound chambers, medium efficiency
               filtration (60%), internal and external vibration isolation,
               inverter drives and direct digital controls.

          c.   Outdoor ventilation air is filtered and heated (50(degrees)F max)
               and supplied to each floor air conditioning unit via a central
               outdoor air riser system. Constant volume box will be provided to
               regulate fresh air. No central humidification is provided. Smoke
               detectors and shut down designed as per NYC code. Distribution of
               fresh air to supplemental units is by tenant off the building
               fresh air riser located in the fan room. A review of the location
               of intake and exhaust louvers will be made to insure proper
               separation.

     2.   Air Distribution Design

          Variable Air Volume (VAV) Box Design

          a.   Base core & shell ductwork stops outside fan room including
               associated acoustical treatment. All medium pressure ductwork,
               VAV boxes, diffusers and controls are tenant fit-up, as approved
               by Landlord. All boxes shall be specified to building standard
               with DDC controls and capable of being tied to Landlord BMS.
               Landlord will provide code required smoke dampers at core only.
               Unit prices for boxes will be provided.

D.   CONDENSER WATER SYSTEM

     1.   Base Building

                                      J-3

<PAGE>

          a.   A central condenser water system will serve the Building and is
               available for special areas and 24 hour AC unit requirements.
               Three condenser water pumps will be provided for the primary
               cooling tower loop and three pumps for the building secondary
               side. A common standby pump will serve both the primary and
               secondary side of the heat exchangers. This system will be
               available 24 hours per day, year round. Condenser water will be
               derived from base building cooling towers and distributed from
               the main condenser risers. Flat-plate heat exchangers with
               primary (open loop) and a secondary (closed loop) pumping system
               will provide closed loop condenser water to all areas. The plate
               and frame heat exchanger will be provided with sand filtration.
               At each office floor, 2 1/2" valved outlets will be provided for
               Tenant connections for supplemental or after-hour cooling AC
               units at the Tenant's cost.

          b.   Cooling tower shall be multiple cell and winterized space for
               tenant cooling towers is provided and can be tied to base
               building system at Tenant's cost. Towers are winterized.

E.   CENTRAL HEATING

     1.   Base Building

          a.   Two dual fuel (gas and oil) hot water boilers will be provided by
               Landlord in the roof Mechanical Equipment Room to supply heating
               to perimeter hot water baseboard. Hot water baseboard is provided
               with control, through the use of Danfoss valves at each riser per
               floor. Continuous baseboard covers are standard manufacturer
               units with factory finish.

F.   MISCELLANEOUS HEATING SYSTEMS

     1.   All back-of-house areas shall be provided with ventilation and
          heating.

     2.   Heat tracing is provided on all piping in non-conditioned areas such
          as at the loading dock area, cellar garage, and garage elevator entry.

G.   TOILET EXHAUST SYSTEMS

     1.   A dedicated toilet exhaust riser will extend vertically through the
          base building core to ventilate the toilet rooms. System is sized at 2
          CFM/SF. Toilets will be provided with electric baseboard heating on
          perimeter wall.

H.   SMOKE EXHAUST

     1.   Office Tower

          a.   A combination spill air/smoke exhaust system will be provided as
               per NYC code. The general exhaust (spill) duct will be used for
               relief air at all times the outside air system is energized. The
               smoke exhaust system will be sized to remove a minimum of (6) air
               changes from the largest floor. The spill air/smoke exhaust
               system will exhaust air at the Roof Mechanical Equipment Room.

     2.   Office Lobby

          The return fan in the lobby AC unit will be utilized to satisfy smoke
          exhaust requirements for the office lobby.

                                       J-4

<PAGE>

I.   SHAFTWAY VENTING

     1.   All shaftways (i.e., stairs, elevator shafts and riser shafts) will be
          provided with code required venting systems. Vent ductwork will be
          enclosed in 2 hour rated construction from the shaft to the outdoor
          vent location. Tenant shafts, if any, will be ventilated by Tenant as
          per code.

J.   FUEL OIL SYSTEM

     1.   Generator

          An above slab steel (20,000 gallon) fuel oil tank located in the
          lowest cellar will be provided to service the boilers and building
          generator. The system will include fuel oil fill and vent lines, fuel
          oil tank, duplex fuel oil transfer pumps, fuel oil transfer piping
          (supply and return). Horizontal piping within the building shall be
          pipe within a pipe construction with an additional 2-hour fire rated
          enclosure system and vertical piping shall be enclosed in 2-hour fire
          rated masonry construction. The fuel oil tank will be sized to
          accommodate minimum code requirements. Generator(s) will be located on
          the Roof Mechanical Equipment Room. Fill box and containment design
          shall be as per EPA and NYC requirements. A 275-gallon day tank will
          be provided for fuel-oil feed on the Roof Mechanical Equipment Room.
          Space for a future Tenant generators and risers are available. All
          equipment and associated material is by Tenant.

K.   MISCELLANEOUS COOLING AND VENTILATING SYSTEMS

     1.   The Mechanical Equipment Rooms, storage rooms and utility rooms shall
          be mechanically heated and ventilated an exhausted with a minimum of
          six (6) air changes per hour.

     2.   The switchgear rooms shall be mechanically ventilated.

     3.   The elevator machine rooms will be mechanically cooled and heated (if
          necessary) using water-cooled packaged ceiling mounted heat pump
          units.

     4.   The gas meter room will be provided with six (6) air changes per-hour
          of exhaust ventilation, per the New York City Building Code.

     5.   The electric closets will be provided with exhaust fans.

     6.   Building louvers will be provided for Tenant's fresh air and exhaust
          on ground floor. Additional building louvers for specific Tenant needs
          may be allowed in a zone to be provided and approved by Landlord.

     7.   Underground parking will be provided with mechanical ventilation sized
          at 1.5 CFM/SF, as per code.

L.   AUTOMATIC TEMPERATURE CONTROLS & BUILDING AUTOMATION SYSTEM

     1.   An independent temperature control and building automation system will
          be provided as a part of core and shell systems for base building and
          Tenant use.

     2.   The automatic temperature control and building automation management
          system will be microprocessor "open protocol" (Bacnet) based with
          distributed direct digital processing. It will incorporate the use of
          direct digital electronic controls for all central mechanical
          equipment. The system shall be provided with separate DDC controls
          capable of providing the following features:

          a.   Central optimized starting and stopping of all air conditioning
               systems, cooling

                                       J-5

<PAGE>

              tower fans, exhaust fans and air conditioning pumps.

          b.  Status of all equipment that is started and stopped.

          c.  Temperature indication of the following:

              (1)  Supply air temperatures for each air conditioning and heating
                   and ventilating system.

              (2)  Condenser water and hot water, supply and return temperatures
                   to each AC unit, cooling tower, flat plate exchanger, etc.

              (3)  Outside air temperature and humidity

          d.  Interface with the independent stand-alone multiplexed fire alarm
              system for a common alarm.

          e.  System shall maintain operating hours for each system.

          f.  All automatic dampers shall be by the automatic temperature
              control manufacturer.

          g.  Provide switches and relays as required for smoke detection system
              interface.

          h.  Provide for each supply and exhaust fan a motorized damper at
              louver location or discharge point.

          i.  For each AC unit, provide multiple points to allow operator to
              properly control and monitor AC systems.

          j.  Provide condenser and chilled water optimization and pump
              sequencing for pumping systems.

          k.  Provide alarm for critical items:

              (1)  High temperature (elevator mech. rooms, cooling towers etc.)

              (2)  High water (sump, ejector, cooling towers, etc.)

              (3)  Low water (cooling towers, water storage etc.)

              (4)  Emergency generator(s).

              (5)  Fuel oil system - low level and high level and common alarms.
                   Status of all fuel oil isolation and shut-off valves.

              (6)  Switchboard and telephone room high temperature.

              (7)  Transfer switch alarms.

              (8)  Failure of normal power.

              (9)  Failure of emergency power.

              (10) Domestic water low pressure.

              (11) Primary transformer room hi-temperature alarms.

              (12) Water sensors for all mechanical rooms above tenant occupied
                   spaces.

                                       J-6

<PAGE>

              (13) Annunciate alarms for all base building A/C units.

              (14) The system will be designed to accommodate Tenant VAV boxes
                   plus 10-15 floor points for Tenant fit-up. Tenant will be
                   required to tie-in terminal boxes and supplemental A/C units
                   at Tenant's cost.

                                      J-7

<PAGE>

II.  ELECTRICAL SYSTEMS

     A.   SERVICE

          1.   The project is provided with a 460/265 volt network service
               served from the Con Edison grid, via multiple transformers and
               network protectors. Con Edison will be providing a second
               contingency service, which allows full utility service to be
               provided to the building even if any two transformers or high
               tension feeders supplying them are out of service. Con Edison's
               reliability is further ensured by the continuous monitoring of
               transformer and high tension feeders to anticipate developing
               problems and thus assure continuity of service.

     B.   DISTRIBUTION

          1.   The electrical distribution system is designed to support
               lighting and power demand loads, based on useable areas, of 8
               watts useable square foot on all office floors. This is exclusive
               of base building air conditioning, heating, core loads and
               domestic hot water loads.

          2.   In the event an area requires more power than the 8 watts useable
               square foot that has been provided on each floor in the electric
               closet, 25% excess power is available in the service located in
               the basement electrical rooms and can be distributed by conduit
               and wire via space provided in electric closet via sleeves or
               slots at Tenant's cost.

          3.   Core and shell electrical distribution of the Landlord provided 8
               watts useable per square foot of power as defined elsewhere, is
               being distributed via dedicated bus duct from dedicated
               switchboards. A second electric room on each floor (8' x 8') can
               be provided.

     C.   METERING & ELECTRICAL CLOSET WORK

          1.   Tenant power will be electronically direct metered.

          2.   Base Building work includes disconnect switch and high voltage
               distribution panel with feed to DX unit. All other panels,
               transformers, etc. are by tenant. Size of high voltage panel will
               be mutually agreed upon by Landlord and Tenant.

     D.   TELECOMMUNICATIONS/TELEPHONE SERVICE

          1.   Two (2) telecommunication entry points will be provided for
               Tenants. Air conditioning, floor drains, leak detection and
               intrusion alarms will be provided in the service entry rooms at
               Tenant's cost. The Tenant will arrange for his own
               telecommunications services to be brought into the building and
               distributed directly to their floors. Incoming service rooms and
               all distribution systems will be capable of receiving fiber optic
               cabling for delivery of services. Additionally, the following
               criteria is being maintained for the project:

               a.   Two (2) telecommunication service entrances capable of
                    receiving services from multiple telecommunications vendors.

               b.   Telecommunications service entrance room will be located in
                    areas protected from water damage. No water piping
                    (drainage, sprinkler, waste, etc.) will be run near
                    telecommunications closets or equipment rooms.

               c.   Sleeves for empty conduits run into the building from the

                                       J-8

<PAGE>

                    telecommunications two (2) service entrances. Two (2)4"
                    conduits shall be provided and to Tenant from each service
                    entry (a total of four (4) conduits) and will be run to the
                    main service room. Additional conduits may be added by
                    Tenant at its cost. Pull boxes will be provided at all 180
                    (degrees) turns.

               d.   Vertically stacked telecommunications closets will be
                    located in the core. The closet to be provided with (4)
                    slots/sleeves to support required vertical
                    telecommunications services by the Tenant.

               e.   2 - Four (4)inch sleeves shall be provided in each
                    telephone closet and (1)4" conduit will be provided from
                    highest floor closets to the roof for future satellite
                    microwave dishes by Tenant.

               f.   Space on the roof will be provided for satellite and
                    microwave dishes furnished by Tenant. Related costs to
                    install such systems is by Tenant.

     E.   EMERGENCY POWER

          1.   A base building life safety generator will be provided on the
               Roof Mechanical Equipment Room, to support life safety needs.
               Space will be allocated for up to one (1) future Tenant generator
               up to 1,500 KW, including adequate space for the fuel oil storage
               for 24-hour support, pumps, and riser facilities. Cost of
               generator and associated equipment is by Tenant.

          2.   Riser slots or sleeves will be provided within the floor electric
               closet to allow for the distribution of emergency power cabling
               from a future Tenant generator. 4-3 inch sleeves in each closet
               will be provided.

          3.   A fuel oil treatment system for base building generator will be
               provided to filter and insure that the fuel oil is clean when
               needed. Fuel levels will be monitored from the BMS.

     F.   MISCELLANEOUS

     1.   The building will provide cable T.V. sleeves located in the
          communications closet. The Tenant will make arrangements with the
          local cable provider for service to its premises.

                                      J-9

<PAGE>

III. LIFE SAFETY SYSTEM DESCRIPTION

     A.   COMMUNICATION SYSTEM (BASE BUILDING SYSTEM]

          1.   A life safety communications system will be provided as per Local
               Law No. 16 and 58 and will be ADA compliant. The system will
               provide for alarm signals to be automatically broadcast on the
               alarm floor and the floor above in the event of actuation of
               manual or automatic alarm initiating devices. Speaker/strobes
               will be provided at core areas and common areas only. Spare
               connection points can be made available at life safety panels to
               accommodate special Tenant life safety systems. Life safety
               system to be of the addressable type. One floor warden station
               shall be on each floor.

     B.   ELEVATOR RECALL SYSTEMS (BASE BUILDING)

          1.   Local Law No. 16 provides for the elevator control system to
               recall to the lobby level in the event of actuation of the
               sprinkler system or smoke detector in the building.

     C.   STANDBY POWER LIGHTS AND EMERGENCY (BASE BUILDING SYSTEM

          1.   Emergency power for building life safety requirements will be
               provided by means of a diesel engine driven generator which will
               supply power, in the event of a utility company failure to
               critical life safety loads identified hereinafter. The base
               building, 275 gallon fuel oil day tank located at the generator
               level will be provided. The base building fuel oil storage
               facility in the lower cellar shall support minimum code
               requirements.

          2.   Specific items to be connected to the base building generator
               include:

               a.   Class E fire alarm system.

               b.   Equipment supporting main incoming telephone service room.

               c.   Capability to operate 3 elevators in any bank at the same
                    time.

               d.   Emergency lighting to be provided in the following areas:

                    (1)  All mechanical rooms.
                    (2)  Loading dock.
                    (3)  Fire Stairs.
                    (4)  Core Bathrooms.
                    (5)  All core closets, electric and communications
                         closets.
                    (6)  1/4 watt/square foot for tenant lighting.

               e.   Building Management System (BMS).

               f.   Core and shell exit signage.

               g.   All fire pumps.

               h.   Smoke purge fans.

               i.   Landlord to provide two (2) strobe circuits, two (2) speaker
                    circuits, 1 warden station circuit and 1 addressable loop
                    for each of the Tenants floors. Landlord to provide at no
                    cost to Tenant all points and programming to accommodate
                    Tenants fire alarm work, and final connections of Tenants
                    fire alarm equipment to base building panels.

                                 J-10

<PAGE>

          D.   SMOKE DETECTION SYSTEM

               1.   Smoke detectors will be provided in all core mechanical,
                    electrical, and telephone/communication equipment rooms,
                    elevator lobbies and in base building fan system ducts. In
                    addition to actuating alarm signals, operation of the
                    detectors will cause elevator recall, shutdown of fan
                    systems and release of any locked fire stair doors.

          E.   FIRE COMMAND STATION LOCATION

               1.   A fire command station is located in the Office Lobby.

                                      J-11

<PAGE>

IV.  PLUMBING AND FIRE PROTECTION SYSTEM DESCRIPTION

     A.   UTILITY SERVICES

          1.   Sanitary, storm water, gas, domestic and tire services from
               the building and connecting to public utilities in adjacent
               streets.

          2.   Domestic cold water, fire and gas services to be fully
               metered. Provide double detector check valve on domestic
               water service and on fire service all in accordance with
               local requirements.

          3.   Domestic cold water and Fire water services are provided.

     B.   DOMESTIC COLD WATER SYSTEM (BASE BUILDING SYSTEM)

          1.   The building will be under pressure by a constant pressure
               duplex pumping system for all office floors.

          2.   The building shall be divided into two zones utilizing
               master pressure reducing valve stations.

          3.   All domestic water connections to HVAC systems and other
               non-potable sources shall be provided with suitable backflow
               preventors.

          4.   One (1) cold water valved outlet shall be provided in the
               core at each office floor for future Tenant requirements.

          5.   Provide wall hydrant at each roof level and around the base
               of the building.

          6.   Provide a complete domestic cold water distribution system
               serving all fixtures and equipment requiring cold water in
               core and shell areas.

     C.   DOMESTIC HOT WATER SYSTEM (BASE BUILDING)

          1.   Domestic hot water for the core toilets will utilize one
               point of use electrical heater per floor. Heater shall be
               ceiling mounted at core toilets.

     D.   SANITARY DRAINAGE SYSTEMS

          1.   Building will have multiple stacks with all areas above
               grade flowing by gravity to adjacent sewers on site.

          2.   The areas below the elevation of the sanitary house drains
               will extend to duplex sewage ejector stations and will be
               provided with emergency power.

          3.   Sanitary and vent plugged outlets in the core will be
               provided at each office floor for Future Tenant
               requirements.

          4.   Provide floor drains within all core mechanical rooms and
               within the loading dock.

     E.   STORM DRAINAGE SYSTEM

          1.   A complete storm drainage system serving all roof areas,
               areaways, terraces, etc. shall be provided. In accordance
               with DEP regulations, a storm water roof-top detention
               system will be provided.

          2.   All areas above grade shall flow by gravity through multiple
               house drains to sewers in adjacent streets.

          3.   Sump pump pits and silt traps will be provided to serve all
               storm drainage located

                                      J-12

<PAGE>

          below the elevation of storm water house drains and the foundation
          drainage system if required. Each sump pump station will have duplex
          sump pumps and provided with emergency power.

     F.   DRINKING WATER SYSTEM

          1.   Individual self-contained lead-free electric water coolers with
               point-of-use filters shall be provided by base building.

     G.   GAS SYSTEM

          1.   A natural gas service shall extend into the building to a
               dedicated gas meter room.

          2.   Provide complete distribution system to all core and shell
               equipment requiring gas service.

          3.   Future Tenant connection in cellar is provided. Riser is by
               Tenant.

     H.   FIRE PROTECTION SYSTEMS (BASE BUILDING)

          1.   A complete combination standpipe sprinkler system throughout the
               complex is provided. (Light hazard classification).

          2.   The system shall be pressurized by an automatic electric fire
               pump taking suction from two independent street mains.

          3.   All pumps shall be equipped with normal and emergency power and
               automatic transfer switches.

          4.   The core and shell shall be fully sprinklered in accordance with
               New York City Building Code (Light Hazard 0.10 gpm/1500SF).
               Tenant shall extend sprinkler piping and install heads from riser
               at fire stairs. Landlord will sprinkler core areas only. Loop
               piping and heads are by Tenant.

          5.   Sprinkler design densities shall be in accordance with The NYC
               Building Code and appropriate insurance requirements. System
               shall be hydraulically calculated and required by Landlord at
               Tenant's cost.

          6.   Fire department hose racks and cabinets shall be provided as
               required to meet the requirements of the NYC Building Code.

          7.   Fire Department siamese connections shall be provided as required
               by the FDNY.

          8.   Tamper switches will be provided on each fire protection control
               valve for core and shell.

          9.   Each sprinkler floor control assembly will be provided with an
               OS&Y control valve with tamper switch, water flow indicator, and
               test and check valve. Pressure reducing valve and relief valve
               shall be provided for floor systems having excessive pressure.

     I.   WET COLUMNS

          1.   Two (2) wetstacks and risers for soil and vent plugged outlets
               and cold water valved outlets on each floor at core and (one in
               core and two on the floor). In locations as designated on the
               plans

     J.   PLUMBING FIXTURES

          1.   Core and shell fixtures shall be of the low consumption design
               type.

                                      J-13

<PAGE>

          2.   Provide core and shell vitreous china and acid resistant enameled
               cast iron fixtures, complete with all trim, stops, hangers, flow
               restrictors, carriers, supports, (vandal-proofing), etc.
               Selection based on maintaining sanitary conditions ADA
               requirements and specific function of each fixture type as
               selected with Architect.

     K.   SEISMIC REQUIREMENTS

          1.   Provide seismic design and restraints for all core and shell Life
               Safety Systems as required by the New York City Building Code and
               as listed below:

               a.   Standpipe system.

               b.   Sprinkler system including all components of dry-pipe
                    systems. This will include air compressors, pull stations,
                    detectors, strobes, bells, wiring and conduits and panels.

               c.   Fire protection water services and water services, which
                    supply standpipe or sprinkler systems.

               d.   All fire pumps and controllers.

               e.   All roof tanks utilized for fire protection including
                    combination domestic/fire reserve tanks.

               f.   House pumps and constant pressure pumps including tank, fill
                    piping and accessories utilized to fill fire reserve tanks.

               g.   Natural gas systems.

               h.   Any and all services which occur over the path of egress.

               i.   Electric core & shell.

                                      J-14

<PAGE>

V.   TENANT FIT-OUT ITEMS

     The following items if provided by the Tenant at his cost:

     A.   HVAC

          1.   Window blinds.

          1.   Medium pressure ductwork from core fan room.

          2.   Variable air volume boxes.

          4.   Supplemental or after-hour AC units, piping and systems.

          5.   Diffusers, grilles, controls tied to Landlord BMS.

          6.   Low pressure ductwork.

          7.   Perimeter slot diffusers.

          8.   Elevator lobby duct distribution, diffusers, grilles and controls
               tied to Landlord BMS.

          9.   Controls for fan-powered VAV boxes and supplemental AC units tied
               to Landlord BMS.

          10.  AC units for telephone rooms, switches, etc.

          11.  Kitchen exhaust ductwork, fans, shafts, etc.

          12.  Supplemental fuel oil tanks, piping and monitoring/control.
               Location of shafts/fans provided by Landlord.

     B.   ELECTRICAL

          1.   Electric panels 460/265V and 120/208V panels and transformer.

          2.   All circuiting to lighting and receptacles on Tenant floors.

          3.   Telecom and data wiring, conduit and power supplies from nearest
               closet.

          4.   Lighting and lighting controls beyond core and shell areas.

          5.   Audio Visual, security and acoustics on Tenant floors.

          6.   Tenant generator & associated equipment.

          7.   Telephone security and special system conduits from service room
               in cellar to Tenant floor.

          8.   Satellite TV, microwave dishes, cable TV satellite dishes and
               associated wire, conduit and equipment

          9.   Fire alarm devices on Tenant floors connected to core and shell
               fire alarm system at Tenant's cost.

     C.   PLUMBING

          1.   Kitchen

                                      J-15

<PAGE>

     2.   Pantries

     3.   Gas branch piping to kitchen equipment from valved outlet (meter) in
          cellar, if any.

     4.   Fit-out of fixtures served by wet stacks.

D.   SPRINKLER

     1.   Sprinkler, piping and heads for office floors not including core and
          shell.

E.   SECURITY

     1.   Power and conduit for Tenant security.

                                      J-16

<PAGE>

                              EXHIBIT J (Continued)

                                     PART II

                           ARCHITECTURAL CORE & SHELL
                                DESIGN GUIDELINES

                                       for

                           Nine MetroTech Center South
                                             Building C/G

Brooklyn, New York

                                    Developer
                          Forest City Ratner Companies
                           One MetroTech Center North
                            Brooklyn, New York 11201

                                             Project Team
                      Swanke Hayden Connell & Partners LLP
                            Cesar Pelli & Associates
                             Thornton-Tomasetti, PC
                            Cosentini Associates, LLP
                              Van Deusen Associates

    G. Philip Habib & Associates

                                      Date

October 31, 2001

                                      J-17

<PAGE>

    I.  INTRODUCTION

The 9 MetroTech Center South parcel is bounded by Myrtle Promenade / Flatbush
    Court to the south, Polytechnic University Student Center and Nine MetroTech
    Center North to the north, and MetroTech Commons to the west.

The building is a 19-story commercial office tower with retail space on the
    ground floor and two below-grade cellar levels of parking.

    Development of this site shall be in compliance with the zoning requirements
    contained in the MetroTech ULURP drawings, other applicable provisions of
    the New York City Zoning Resolution and the MetroTech Design Guidelines for
    this site.

                                    Site area

    Site Area:       42,709 SF

                                      Uses

    The Occupancy for the building is primarily office use as well as accessory
    uses to the office use.

    The building will provide two below-grade levels for commercial parking
    facilities and incoming mechanical services. The ground floor will
    accommodate up to two entrance lobbies, retail space, loading docks and a
    ramp entry to the parking facility. Floors will be designed for commercial
    office floors. A mechanical penthouse, with enclosed and screened mechanical
    spaces, elevator machine rooms and space for satellite and microwave
    antennas will be on the roof.

    Above ground parking is not permitted.

                               Ground Level Access

                                    Entrances

    The building's Main Lobby accommodates the Low-rise and High Rise office
    floors. The design of the lobby will be comparable to MetroTech Center
    buildings. The lobby entrance is from the former Bridge Street facing the
    urban open space known as MetroTech Commons. The below-grade-parking garage
    is accessed from the Flatbush Avenue Service Road.

                             Pedestrian Circulation

    Pedestrian site circulation will include trees and other plant materials,
    light fixtures and other site details, in conformance to the MetroTech
    Design Guidelines.

    The ground floor commercial retail spaces will be accessible from the
    Commons and Myrtle Promenade.

                               Building Servicing

    A fully enclosed two-berth loading dock and separate trash compactor berth
    are located on the Flatbush Avenue Service Road. Utility rooms for electric
    will be located along Flatbush Court. Five transformer vaults including a
    spare are provided.

    All utility rooms shall be a minimum size as permitted by the respective
    utility companies. Electrical service equipment must be configured and
    installed consistent with utility company

                                      J-18

<PAGE>

specifications required for equipment to be owned and maintained by the utility
company.

                            Telecommunications design

Vertical riser shafts / closets will be provided in the core.

Space for antenna mounting area and cable trays will be provided at the roof
level for satellite and microwave dishes. Space for satellite and microwave
equipment rooms shall be included in the bulkhead-enclosed space. The service
elevator will extend to the roof level, allowing for easier servicing and
replacement of roof equipment. Rated hatch and lift will be provided to allow
hoisting of equipment to the upper roof level.

An emergency generator, plus space provisions for one future spare generators,
and a common emergency fuel tank will also be provided.

                              Architectural design

The building will be steel-framed with concrete slab-on-grade foundations and
poured concrete foundation walls. All above-grade floor slabs will be composite
steel-and-concrete decks.

Typical floor-to-floor heights will be 13'-6". Typical floors will be designed
to allow for 6" high access floors. Second and third floor levels will be
designed with 15'-6" floor-to-floor height and allow 6" high access floors for
both cable and HVAC horizontal distribution. All accessible flooring will be by
tenant. Refer to drawings for additional information.

The building exterior design materials and system will be comparable to Nine
MetroTech Center North (FDNY Headquarters). It will feature stone-clad precast
concrete and architectural precast concrete panels at the building's base,
brick-clad precast concrete panels above, aluminum windows with thermally
broken, double-glazed, Low-E insulating glass units, metal and glass curtain
wall and storefronts.

II.  BUILDING DESCRIPTION

     A.   Structural Work:

          1.   Refer to the Structural Design Guidelines/Outline Specifications
                                  for additional information.

          2.   The building shall be designed per the latest New York City
               Building Code. The building will be designed to meet the seismic
                  regulations incorporated into the NYC Building Code as of
                                        02/20/96.

     B.   Site Work.

          1.   All site work (i.e. sidewalks, curbs, landscaping, etc.) shall be
               installed in accordance to the requirements of the MetroTech
               Master Plan and Design Guidelines.

     C.                   Exterior Wall - Precast Concrete:

          1.   Provide low stone-clad pre-cast concrete cladding system at the
               building's base similar to MetroTech Center buildings.

          2.   Provide brick-clad precast concrete composite panel cladding
               system comparable to Nine MetroTech Center North. Composite
               panels shall consist of precast concrete back-up panel with brick
               veneer. Refer to the drawings for panel jointing design. (The
               Owner reserves the right to install

                                      J-19

<PAGE>

               a conventional system.)

               a.   Brick shall be laid in a running bond pattern utilizing
                    special size brick (2 1/4" thick x 3 5/8" x 7 5/8") and full
                    width returns at all brick corners.

               b.   Brick pattern accents will be a separate color.

               c.   All exterior exposed precast concrete shall be face quality
                    and smooth finish.

          3.   Granite Base with a flamed finish.

     D.                              Interior Stone:

          1.   Provide a dimensional stone floor in the Entry Lobby comparable
               to MetroTech Center buildings.

          2.   Provide stone countertop at Lobby Information Desk(s).

          3.   Provide stone vanity countertops in all core toilets.

     E.                              Metal Fabrications:

          1.   Stairs shall be constructed of channel stringers and metal pans
               with concrete fill. Handrails and guardrails will be provided in
               accordance to code requirements.

          2.   Loading dock and service ramp exposed corners to be protected by
               4' high; 8" diameter steel bollards.

          3.   Aluminum parapet railings as required to satisfy the NYC building
               code.

F.   Ornamental Metal:

          1.   At base-building lobby, provide miscellaneous ornamental metal
               cladding and trim at selected doors, elevator doors and lobby
               information desk.

      G.                             Rough Carpentry:

          1.                         Provide rough carpentry for the following:

                    a.   Allowance for miscellaneous wood blocking and roof
                         blocking

                    b.   Installation of hollow metal doors and hardware.

                    c.   Plywood support of stone at vanities and plywood panels
                         in the telephone rooms.

     H.                              Finish Carpentry:

          1.   Architectural details for the Base Building lobby and lobby
               ceiling comparable to MetroTech Center buildings.

     I.                              Preformed Roofing and Siding:

          1.   At selected roof areas, mechanical spaces enclosed and screen
               walls provided with preformed metal siding enclosure with PVDF
               finish similar

                                      J-20

<PAGE>

               to other MetroTech buildings, supported on a steel girt system
               and insulated at the exterior walls of enclosed rooms.

J.   Insulation:

     1.   Provide insulation as required to conform to the New York State Energy
          Code.

          2.   Provide insulation on underside of ground floor slab (Ceiling of
               upper garage level).

K.   Roofing, Sheet Metal and Accessories:

          1.   Provide an inverted roof membrane assembly (IRMA) with rigid
               insulation and ballast. Provide concrete ballast pavers as
               required to access and provide maintenance to all equipment and
               window washing equipment. (The Owner reserves the right to review
               alternate roof assembly systems).

          2.   Provide metal flashing and counter-flashing in accordance to
               SMACNA standards.

L.   Metal Doors and Frames:

          1.   Provide single or double hollow metal doors and frames as
               indicated on plans with hardware. All hardware shall be in
               conformance to Local Law 58 and ADA.

M.   Base Buildings Lobby Doors:

          1.   Provide stainless steel revolving door(s); class 1 by Crane.

          2.   Provide stainless steel doors with glazing and hardware.

N.   Exterior Wall - Metal Windows:

               1.   Windows shall be aluminum, thermally broken and
               double-glazed with Low-E clear insulating glass units equivalent
               to Wausau windows.

               a.   Certain windows shall be structurally glazed.

               b.   Aluminum finish shall be manufacturer's standard PVDF
                    finishes.

          2.   Provide for manufacturer standard perimeter hot water radiator
               system, and metal convector enclosures with standard
               manufacturer's finish.

          3.   Provide aluminum window sills reinforced for proper man-load
               support at all windows coordinated with the exterior wall.

0.   Aluminum Enframement - Lobby Entry and Storefronts:

          1.   Provide an aluminum storefront system with manufacturer's
               standard PVDF finishes and clear glazing equivalent to Kawneer
               (except lobby entry doors, revolving doors and adjacent
               storefront framing shall be a stainless steel finish).

          2.   Where glazed curtain wall construction is utilized at the Ground
               Floor windows, provide double-glazed Low-E clear insulating glass
               units.

          3.   Where required, provide 1/4" spandrel glass with patterned
               ceramic frit and insulation backing or double-glazed insulating
               glass units with an opaque finish.

                                      J-21

<PAGE>

          4.   Where required by Code, tempered glass and safety glazing shall
               be provided.

P.   Exterior Wall - Glazed Curtain Wall:

          1.   Provide an aluminum curtain wall system with manufacturer's
               standard PVDF finishes and double-glazed Low-E clear insulating
               glass units equivalent to Kawneer.

          2.   Curtain wall shall be designed to withstand wind loads in
               accordance to NYC Building Code.

          3.   Where required, provide 1/4" spandrel glass with patterned
               ceramic frit and insulation backing or double-glazed insulating
               glass units with an opaque finish.

Q.   Drywall - Base Building:

          1.   Base Building drywall partitions shall be as follows:

               a.   Interior partitions: one layer 5/8" GWB on each side of
                    metal stud.

               b.   Shaftwall: two layers 5/8" GWB-type `X' on one side with 1"
                    liner board on shaft side with C-H metal stud framing.

               c.   Rated partitions:

                    (1)  Two-hours: two layers 5/8" Type `X' GWB on both sides
                         of metal stud framing.

                    (2)  One-hour: same as item 1.a above except Type `X' GWB.

               d.   Furring: Metal stud framing with foil faced batt insulation
                    and 5/8" GWB finish at exterior wall, including the exterior
                    perimeter column enclosures.. GWB to be taped, spackled,
                    sanded and ready for painting

               e.   Interior columns are not enclosed (drywall enclosure by
                    tenant.)

               f.   Lobby walls: Provide two layers of 5/8" GWB to allow for
                    1/2" x 1" aluminum channel reveal and pattern similar to
                    MetroTech Center buildings. Second decorative layer of GWB
                    to have a polished skim coat finish.

          2.   Ceilings:

               a.   Base Building Lobby: provide one layer 5/8" GWB with a
                    polished skim coat on suspended black iron ceiling system
                    for the Base Building Entry Lobby with light coves, details,
                    etc. comparable to MetroTech buildings.

               b.   General: provide one layer 518" GWB on suspended black iron
                    ceiling system where indicated on drawings.

               c.   Garage: provide suspended, acoustical, accessible 2' x 4'
                    tile ceiling (upper parking level and garage lobby spaces
                    only).

S.   Tile:

          1.   Base Building Toilets:

                                      J-22

<PAGE>

               a.   Provide ceramic tile floor and base with a 5'-0" high
                    ceramic wall tile wainscot.

T.   Acoustical Treatment:

          1.   Provide 2'-0" x 2'-0" Fineline lay-in acoustical ceiling tile
               with vinyl finish at core toilets.

          2.   Provide acoustic insulation/vibration insulation of all
               mechanical equipment.

U.   Painting:

          1.   Provide painting for the following base building areas:

          a.   Metal pan stairs

          b.   Hollow metal doors and frames

          c.   Core toilet walls

          d.   Concrete masonry walls (core and shell)

          e.   Drywall partitions: 2 coats for exposed walls and ceilings (core
               and shell.) Painting of partitions on walls exposed to the Tenant
               side to be provided by the Tenant.

V.   Specialties:

          1.   Exterior Louvers: provide aluminum louvers with manufacturer's
               standard PVDF finish at mechanical equipment rooms where shown on
               drawings.

          2.   Screening and Roof Bulkheads: provide brick masonry screen walls
               and enclosures at selected area as shown on the drawings.

          3.   Base Building Signage: provide code required life safety and
               interior signage (core & shell only).

          4.   Toilet Partitions: provide manufacturer's enamel painted finish
               ceiling hung metal toilet partitions with miscellaneous metal
               support.

          5.   Toilet Accessories: provide stainless steel toilet accessories
               and mirrors for core toilets including code required grab bars.

          6.   Overhead Roll-Up Doors and grilles: provide exterior roll-up
               doors at loading dock and parking garage entry. Doors at loading
               docks are to be insulated solid panel type. Doors at parking ramp
               are to be perforated slat type.

          7.   Loading Dock Equipment: provide miscellaneous loading dock
               equipment (i.e. bumpers, wall guards, etc.)

          8.   Entrance Canopy: provide laminated frit glass canopy and cables
               with stainless steel framing.

          9.   Window Washing: provide window-washing system, including
               roof-mounted davits and concealed tieback.

                                      J-23

<PAGE>

          10.  Window Treatments: Landlord to determine a window treatment
               specification at a future date for compliance by all Tenants.

W.   Elevators:

          1.   Refer to the attached elevator specifications. The design of the
               elevator cabs shall be comparable to MetroTech Center buildings.

X.   Mechanical, Electrical, Plumbing and Fire Protection:

          1.   Refer to the MEP Outline Specification System Description for
               additional information.

                                      J-24

<PAGE>
                              EXHIBIT J (Continued)

                                    PART III

                           STRUCTURAL DESIGN CRITERIA
                           AND OUTLINE SPECIFICATIONS
                               9 METROTECH CENTER
                             DATE: October 17, 2001

1. GENERAL

   A. Design Criteria

      (1) Applicable Codes: All structural elements shall be designed in
          accordance with the requirements of the Building Code of the City of
          New York, 1996- 1997 edition.

      (2) Structural Steel: All structural steel shall be designed in accordance
          with the Building Code of the City of New York. In general, details
          and design of structural steel shall be in accordance with the
          American Institute of Steel Construction, "Manual of Steel
          Construction, Load and Resistance Factor Design", latest edition.

      (3) Concrete: All concrete structures shall be designed in accordance with
          the Building Code of the City of New York. Ultimate strength design
          shall be used in accordance with ACI-318-89, "American Concrete
          Institute, Building Code for Structural Concrete". In general, details
          shall be in accordance with AC1 315, "Manual of Standard Practice for
          Detailing Reinforced Concrete Structures", latest edition.

   B. Design Loads:

      (1) Uniformly Distributed Live Loads

<TABLE>
          <S>                                           <C>
          Ground Floor                                  100 lbs./sq. ft.
          Ground Floor Storage Area                     200 lbs./sq. ft.
          Offices 2/nd/, 4/th/- 12/th/, 15/th/-19/th/   100 lbs./sq. ft.
          Data Centers   3/rd/, 13/th/, 14/th/          200 lbs./sq. ft.
          Lobbies and Corridors                         100 lbs./sq. ft.
          Stairways                                     100 Ibs./sq. ft.
          Exit Facilities                               100 lbs./sq. ft.
          Light Storage Area                            125 lbs./sq. ft.
          Loading Dock                                  250 1bs./sq. ft.
                                                        or AASHTO HS20-44
          Mechanical Rooms                              150 lbs./sq. ft.
          Sidewalks                                     600 lbs./sq. ft.
          Roofs                                         30 lbs./sq. ft. plus snow drift
          Rooftop Terraces                              100 lbs./sq. ft.
          Parking Areas                                 50 lbs/sq. ft.
</TABLE>

             (2) Unbalanced Loading: Unbalanced Loads shall be used where such
                 loading will result in larger members or connections.

             (3) Live Load Reduction:
             No live load reduction will be permitted on the following:

                 a)  Roof areas
                 b)  Members and connections (other than columns, piers and
                     walls) supporting:
                     i)    Storage areas
                     ii)   Areas used for parking
                     iii)  Areas used as place of assembly
                     iv)   Sales areas

                                      J-25

<PAGE>

          For columns, piers and wails supporting such floor areas, the maximum
          live load reduction shall be 20 percent.

     The uniform live load to be used for design for all other members shall be
     the basic value listed in Section 1.B(1) of the structural design criteria
     multiplied by the percentages given in the following table:

          ==========================================================
           Contributory Area      Ratio of Live Load to Dead Load*
           -----------------    ------------------------------------
               (sq.ft.)
                                0.625 or less     1       2 or more
          ==========================================================
             149 or Less            100          100         100
          ----------------------------------------------------------
             150 to 299              80           85          85
          ----------------------------------------------------------
             300 to 449              60           70          75
          ----------------------------------------------------------
             450 to 599              50           60          70
          ----------------------------------------------------------
             600 or more             40           55          65
          ==========================================================

     "*": For intermediate values of live load/dead load, the applicable
          percentages of live load may be interpolated.

(4)  Concentrated Loads: Provision shall be made in designing floors for a
     concentrated loads as prescribed below placed upon any space 2 feet square,
     unless otherwise noted, wherever this load upon an otherwise unloaded floor
     would produce stresses greater than those caused by the uniform load
     required therefor.

     Location                       Concentrated Load
     --------                       -----------------

     Sidewalks or Vehicular
      Driveway                      8000 lbs.
     Stair Treads                   300 lbs.
     Office Floor Areas             2000 lbs.
     Retail Areas                   2000 lbs.
     Roof                           250 lbs.
     Balcony, Guard Rails,
     Hand Rails & Parapets          40 lbs./1 in. ft. lateral and 50 lbs./1 in.
                                    ft vertical acting simultaneously
                                                   OR
                                    200 lb. concentrated load vertical and
                                    horizontal at top of railing or parapet.

     Should actual conditions occur (e.g.: equipment loads) producing higher
     concentrated loads than those tabulated, the structure shall be designed
     for the higher loads.

(5)  Design Wind Pressures: Design wind pressures on vertical surfaces, acting
     normal to that surface, shall be applied according to the following table:

          ==========================================================
                                        Design Wind Pressure on
                 Height Zone               Vertical Surfaces
           (ft. above curb level)   (psf of projected solid surface
                                   ---------------------------------
                                        Structural        Panels
                                          Frame           Glass
          ----------------------------------------------------------
                   0 to 100                20               30
          ----------------------------------------------------------
                  101 to 300               25               30
          ----------------------------------------------------------
                  301 to 600               30               35
          ==========================================================

                                      J-26

<PAGE>

              On horizontal surfaces and on surfaces with a slope of 30 degrees
              or less with respect to the horizontal, wind pressure and/or
              suction equal to 40 percent of the value listed in the above table
              shall be applied over the entire surface area.

              On surfaces at a slope greater than 30 degrees with respect to the
              horizontal, wind pressures equal to 60 percent of the tabulated
              value above shall be applied to the windward surface. Wind suction
              equal to 40 percent of the tabulated value above shall be applied
              to the leeward surface.

              Minimum wind pressures to be used in the design of other building
              elements shall be the values indicated in the table above
              multiplied by the following shape factors:

              Construction                                    Shape Factor
              Signs (and their supports), or portions              1.5
              thereof, having 70 percent or more solid
              surface

              Signs (and their supports), or portions              2.0
              thereof, having less than 70 percent of
              solid surface

              Tanks, cooling towers and                            1.5
              similar construction

              Square and rectangular chimneys                      1.5

          (6) Impact Loads:

              Elevators: All moving elevator loads shall be increased one
              hundred percent (100%) for impact.

              Machinery: Weight of machinery and moving loads shall be increased
              as follows to allow for impact:

              Elevator machinery                      100%
              Machinery-shaft or motor drive          20%
              Reciprocating machinery                 50%

              Hangers: All hanger loads shall be increased as follows to allow
              for impact:

              Floors or balconies                     33%

          (7) Superimposed Loads:

              Hung ceilings                                      5 psf
              Suspended mechanical (typ. floor)                  5 psf
              Suspended mechanical (floors above mechanical)     20 psf
              Fixed partitions                                   Actual weight
              Moveable partitions                                20 psf
              3" Floor finish (at lobbies)                       38 psf
              Raised Floor (office floors)                       12 psf

2.   DESIGN CONSIDERATIONS

     A.   Stability
          (1) Dead Load + Permanent Anchorage = 1.5 x Overturning
          (2) Dead Load + Permanent Anchorage = 1.5 x Sliding

     B.   Load Combinations

          Notation:

                                      J-27

<PAGE>

          D      = Dead Load
          L      = Live Load due to occupancy and moveable equipment
          L\\T\\ = Roof Live Load
          S      = Snow Load
          E      = Earthquake Load
          H      = Earth Pressure Load
          W      = Wind Load
          R      = Load due to initial rainwater or ice exclusive of ponding

          (1) Allowable Stress Design (ASD)

              ASD requires that the structure strength and its elements be
              determined from the appropriate critical combination of loads. The
              most critical effect may occur when one or more of the loads are
              not acting. The load combinations to be investigated are:

              a. D + L
              b. 0.75(D + L + W)
              c. 0.75(0.9D + W)
              d. 0.75(D + L + E)
              e. 0.75(0.9D + E)

              Additional load combinations for Moment Frame Columns
              f. 0.75(D + 0.8L + 3/8 Rw E)
              g. 0.75(0.85D + 3/8 Rw E)
              Additional load combinations for Lateral System Connections
              h. 0.75(D + L + 3/8 Rw E)

          (2) Ultimate Strength Design Combinations (ACI-318)

              ACI 318 requires that strength, U, shall be one of the following
              combinations, with the stipulation that load combination a. is
              always satisfied. For all ACI-318 load combinations, no
              differentiation is made between live loads due to occupancy and
              moveable equipment (L), roof live loads (L\\T\\) and snow (S).
              Thus, in equations a. through f. below, L=L + L\\T\\ + S.

              a. U = 1.4D + 1.7L
              b. U = .75(1.4D + 1.7L + 1.7W)
              c. U = .9D + 1.3W
              d. U = .75(1.4D + 1.7L + 1.87E)
              e. U = .9D + 1.43E
              f. U = 1.4D + 1.7L + 1.7H except if dead load (D) or live load (L)
                 reduce the effect of H then use U = .9D + 1.7H

     C.   Deflections

          (1)  The live load deflection of steel beams and girders shall not
               exceed 1/360 of the span length.
          (2)  The deflection of the composite slab under superimposed loads
               shall not exceed 1/360 of the span length.
          (3)  The wind load deflection of the building shall not exceed 1/450
               of the total building height.
          (4)  Maximum live load + curtain wall weight + superimposed dead load
               deflection shall not exceed 1/2".
          (5)  Elevator structural supports shall be designed within limits of
               deflection prescribed by ANSI A17.1.

                                      J-28

<PAGE>

     D.   Seismic Criteria:

          All structural elements, at a minimum, shall be designed and
          constructed to resist the effects of seismic ground motions as
          prescribed in reference standard RS 9-6 of the Building Code of the
          City of New York, 1996-l997 edition.

     E.   Miscellaneous
          Hydrostatic pressure          62.4 lbs./cu.ft.
          Buoyancy                      62.4 lbs./sq.ft./ft. of depth
          Earth Pressure                35 lbs./cu.ft. equivalent water pressure
          Saturated earth pressure      80 lbs./cu.ft. equivalent water pressure
          Shrinkage (stone concrete)    .0002 x Length expansion between joints
          Shrinkage (L. W. concrete)    .0003 x Length expansion between joints

     F.   Vibration:
          Recommendations for required floor system frequency to dampen
          vibration range from 5 to 10 Hertz.

     MATERIALS

     A.   Structural Steel

          (1)  All rolled shapes excluding angles and channels shall conform of
               ASTM A572, Grade 50 or Grade 65.
          (2)  All connection material and base plates shall conform to ASTM
               A36.
          (3)  All angles and channels shall conform to ASTM A36.
          (4)  All anchor bolts shall conform to ASTM A 307, unless otherwise
               noted on drawings.
          (5)  All bolts other than anchor bolts shall conform to A 325 or A
               490.

     B.   Metal Deck

          (1)  2" and 3" 18 gage type VL composite floor deck as manufactured by
               Vulcraft or approved equal.

     C.   Concrete:

          (1)  Design Strengths (28 days):
               a.   Footings, slab on grade               4000 psi
               b.   Foundation and retaining walls        4000 psi
               c.   Slab on Metal Deck                    4000 psi

          (2)  Reinforcing Steel:

               a.   All reinforcing bars shall be ASTM A615 Grade 60 deformed
                    bars. The actual yield strength based on mill tests may not
                    exceed 78 ksi and the ratio of the actual ultimate tensile
                    strength to the actual tensile yield strength may not be
                    less than 1.25.
               b.   All stirrups and column ties shall be deformed bars with
                    60,000 psi minimum yield strength, ASTM A615, Grade 60.
               c.   Welded wire fabric shall conform to ASTM A185 and A82.

         (3)   Concrete exposed to weather shall contain an air-entraining
               agent.

                                      J-29

<PAGE>

                                                                       Exhibit L

                  [PLAN OF METROTECH CENTER - BUILDING 9 SOUTH]

<PAGE>

                                    EXHIBIT M

                                List of Agencies

NEW YORK CITY AGENCIES

1.   Department of Aging
2.   Department of Buildings
3.   Human Resources Administration
4.   Community Development Agency
5.   Housing Development Corporation
6.   NYC Loft Board
7.   NYC Youth Bureau
8.   Division of Veteran Affairs
9.   Mayor's Office of Construction
10.  Bureau of Labor Services
11.  Office of the Comptroller - NYC
12.  Office of Business Development
13.  Office of the Comptroller, Bureau of Engineering
14.  Office of the Chief Medical Examiner
15.  Office of Payroll Administration
16.  Offices of Mental Health
17.  Office of Mental Retardation
18.  Public Development Corporation
19.  New York City Fire Department
20.  Department of Finance
21.  Department of Housing Preservation & Development
22.  Department of Sanitation
23.  Financial Information Service Agency
24.  Health and Hospitals Corporation
25.  Office of Management & Budget
26.  Department of Transportation
27.  Board of Education

STATE AGENCIES

1.   NYS Dormitory Authority
2.   Surrogates Courts
3.   State of NY Insurance Department
4.   Division of Housing & Community Renewal
5.   New York State Urban Development
6.   NYS Facilities Development Corporation & Housing Finance Agency
7.   Office of Management/Labor Relations
8.   NYS Racing & Wagering Board

                                       M-1

<PAGE>

FEDERAL AGENCIES

1.  Food & Drug Administration
2.  Federal Communications Commission
3.  Federal Department of Insurance Corporation
4.  Department of Treasury, Comptroller Currency
5.  Bureau of Labor Statistics/Employment Standards/OSHA
6.  U.S. Attorney

                                      M-2

<PAGE>

                                    EXHIBIT N

                    Tenant Enhancements In Base Building Work

Item 1  200 tons of supplemental condenser water shall be provided on emergency
        power with N + 1 redundancy at tenant's expense. Landlord shall provide
        valved outlets from the condenser water risers of the sizes and on the
        floors as directed by Tenant. "Landlord shall provide at Tenant's
        expense, 200 tons of supplemental condenser water capacity from the base
        building condenser water system to support Tenant's critical technology
        areas and disaster recovery floor with the following minimum condenser
        water plant criteria:

        All condenser water system equipment and controls shall be on emergency
        power to allow the system to operate in the event of a power outage or
        emergency.

        The cooling towers shall have N+1 redundancy.

        The primary and secondary pumping systems each shall have N+l
        redundancy.

        Domestic water pumps providing make-up water shall be on emergency power
        and have N+1 redundancy."

Item 2  Tenant will have the right to install louvers at the perimeter of the
        building for ventilation and miscellaneous venting purposes, subject to
        the landlord's approval.

Item 3  Landlord to provide an additional + (6.0) square feet of contiguous
        space for miscellaneous HVAC riser, stacked on each floor, from Tenant's
        floors to the main roof and basement, provided the same can be contained
        within Tenant's proportionate share of space, and if Tenant needs
        additional space the same shall be contained within Tenant's Premises or
        base building core areas at tenants expense.

Item 4  Tenant, at its expense, shall have the right to install a dedicated
        control Sub-system connected to the base building control system, which
        shall control the Tenant's mechanical/electrical equipment.

Item 5  Tenant also requires that certain building monitoring systems (with view
        only capabilities) be duplicated within the Premises so that Tenant can
        monitor certain building systems, which serve the Premises, including,
        but not limited to, the temperature of the chilled or condenser water
        delivered to the Premises. The cost of such duplication shall be borne
        solely by tenant.

Item 6  Landlord to work with Tenant to provide the following items of
        electrical Work at the Tenants expense:

                  a.   400 amps demand electrical capacity at 465 volts, three
                       phase, directly metered and delivered to the Premises as
                       directed by the Tenant for Tenant's independent critical
                       supplemental air conditioning systems from separate
                       service switchboards with diverse distribution routes.

                  b.   400 amps demand electrical capacity at 465 volts, three
                       phase, directly metered and delivered to the Premises as
                       directed by the Tenant for technical power from separate
                       service switchboards with diverse distribution.

                  c.   500 amps demand electrical capacity at 465 volt, three
                       phase, directly metered and delivered to the Premises as

                                      N-1

<PAGE>

                    directed by the Tenant for Tenant's independent noncritical
                    supplemental air conditioning systems.

Item 7 EMERGENCY POWER

          1. Landlord shall provide, at Tenant's expense, a 1000 KW of emergency
          power, (combined with base building plant. Total plant is sized at
          3-1500 KW generators) with the following minimum generator plant
          Criteria:

                         a.   The generator plant shall have paralleling
                              switchgear.

                         b.   Capacity of the generator plant fuel oil system
                              shall be capable of operating the entire generator
                              plant for a minimum of 24 hours continuous use at
                              full load.

                         c.   Generator plant shall be capable of starting from
                              multiple automatic transfer switch signals.

                         d.   Generator plant shall have generation equipment
                              with N + 1 redundancy for critical loads as
                              mutually agreed upon.

                         e.   Fuel oil pumping system shall have N+ 1
                              redundancy.

                         f.   Tenant shall have the right to monitor generator
                              status, ATS status, generator alarms, fuel oil
                              pumping and storage system alarms and fuel oil
                              level via the base building BMS.

                         g.   Tenant has the right to review the selected
                              equipment and design.

                         h.   Base building BMS and fire alarm system shall be
                              connected to the generator plant.

                         i.   Each of the elevators serving Tenant's Premises
                              shall be connected to the generator plant such
                              that one elevator will be operational for Tenant's
                              business use in the event of an emergency or power
                              outage.

Item 8 Tenant shall be responsible for the incremental cost to Landlord for
       consumption of temporary electric power resulting from construction of
       Tenant Work.

Item 9 TELECOMMUNICATIONS/TELEPHONE SERVICE

          1.   Two (2) telecommunication entry points will be provided for
               Tenants. The point of entries shall be diametrically opposed to
               the widest extent allowed by the basement utility conditions and
               services in the street. As a minimum, two (2) different building
               sides shall be used. Air conditioning, floor drains, leak
               detection and intrusion alarms will be provided in the service
               entry rooms at Tenant's cost. The Tenant will arrange for his own
               telecommunication splices to be brought into the building and
               distributed directly to their floors. Incoming service rooms and
               all distribution systems will be capable of receiving fiber optic
               cabling

                                      N-2

<PAGE>

                         for delivery of services. Additionally, the following
                         criteria is being maintained for the project:

                         a.   Landlord, at its sole cost and expense, shall
                              provide six 4" foundation wall penetrations at
                              each of the POE's for the Tenant's exclusive use.

                         b.   Landlord, at its sole cost and expense, shall
                              provide two 4" EMT conduits from each of the POE's
                              to the Tenant's Premises. These conduits shall
                              bypass the building frame room and be routed
                              directly to the Tenant's Premises via two (2)
                              diverse vertical paths (East and West building
                              telephone closets).

                         c.   Landlord, at Tenant's expense, shall provide two
                              to four (2-4) 4" EMT conduits, as directed by the
                              Tenant, from each of the POE's to the Tenant's
                              Premises. These conduits shall bypass the building
                              frame room and be routed directly to the Tenant's
                              Premises via two (2) diverse vertical paths (East
                              and West building telephone closets),

                         d.   Landlord, at Landlord's expense, shall provide one
                              4" EMT conduit from the Tenant's main technology
                              room via the East building telephone closet to the
                              rooftop for Tenant's satellile and/or microwave
                              connectivity.

                         e.   Landlord, ,at Tenant's expense, shall provide one
                              4" EMT conduit from the Tenant's main technology
                              room via the West building telephone closet to the
                              rooftop for tenant's satellite and/or microwave
                              connectivity.

                         f.   Landlord shall provide space (1.0ft./2/ area)
                              within the East and West Telephone closets for
                              Tenant's use for the purpose of installing and
                              maintaining conduit systems (also including pull
                              boxes and support hardware) to connect future
                              non-contiguous or partial floors.

                         g.   Tenant shall have the right to install security
                              devices as necessary in strategic core areas,
                              common areas and building perimeter locations for
                              closed circuit television equipment, subject to
                              Landlord's reasonable approval, not to be
                              unreasonably withheld.

                         h.   Tenant reserves the right to review the Landlord's
                              selected security system, if any, in order to
                              achieve compatibility and common card by access
                              with Tenant system.

Item 10  Tenant reserves the right to install gas fired domestic water boiler on
         the roof or within Landlord's base building mechanical spaces. Landlord
         shall provide adequate shaft space for the installation of domestic hot
         water supply and return risers for the domestic hot water plant to the
         Premises.

Item 11  Landlord to provide a 6" gas connection in the cellar by means of a
         valved outlet for Tenant's future use. Meter, piping, and riser is by
         Tenant.

Item 12  Landlord to provide at its cost a permanent air quality monitoring
         system, which shall monitor base building ventilation systems, for
         noxious and

                                      N-3

<PAGE>

                    poisonous gases and micro-biological growth fungus and
                    bacteria. That system shall monitor continually and monthly
                    reports shall be produced. Any CO identified by system shall
                    cause the ventilation system to alarm and automatically
                    shutdown.

                                      N-4

<PAGE>

                                    EXHIBIT O
                             CONSTRUCTION MANAGERS

   Henegan Construction Co., Inc             Lehr Construction Corp.
   250 West 30/th/ Street                    902 Broadway
   New York, New York 10001                  New York, New York 10010
   Contact: Mr. Paul Bryce                   Contact: Mr. Todd Phillips
   Tel: 212 947 6441                         Tel: 212 353 1160 x 216
   Fax: 212 947 6441                         Fax: 212 505 8169

   J.A. Jones Construction Group             J.T. Magen & Company, Inc.
   6 East 43/rd/ Street                      44 West 28/th/ Street
   New York, New York 10017                  New York, New York 10001
   Contact: Mr. Harold Parmelee              Contact: Mr. Maurice Regan
   Tel: 212 916 8979                         Tel: 212 675 3000
   Fax: 646 865 9959                         Fax: 212 790 4201

   StructureTone Inc.                        Tishman Realty & Construction
   15 East 26/th/ Street                     666 Fifth Avenue
   New York, New York 10010                  New York, New York 10103
   Contact: Mr. John Travers                 Contact: Mr. Joseph Ryan
   Tel: 212 251 9219                         Tel: 212 582 1222
   Fax:

   Turner Construction Company               Landlord -
   375 Hudson Street                         FCR Construction Division
   New York, New York 10014
   Contact: Mr. Rory DeJohn
   Tel: 212 229 6000
   Fax: 212 229 6247

<PAGE>

                                    EXHIBIT O
                               SUBCONTRACTOR LIST

Specialties

A. Liss & Co., Inc.                       Jenteen Partners Inc.
32-15 58th Dt.                            26 Brandon Ave.
Woodside, NY 11377                        Jamesburg, NJ 08831
Contact: Mr. Art Dover                    Contact: Mr. Ken Siegal
Tel.: 718-728-0600                        Tel.: 732-656-1191
Fax.: 718-728-1227                        Fax.: 732-656-1441

Apex Interiors, Inc.
146 W. 29th St., #l0RW
New York, NY 10001
Contact: Mr. Prakash Dave
Tel.: 212-239-0230
Fax.: 212-239-0231

<PAGE>

Demolition

Avanti Demolition & Carting Corp.             Metro Demolition Contracting Corp.
233 Wilson Ave.                               55-14 Grand Ave.
Newark, NJ 07105                              Maspeth, NY 11378
Contact: Mr. Paul Karsalia                    Contact: Mr. Vincent Bordone
Tel.: 201-589-7662                            Tel.: 718-326-8450
Fax.: 201-589-7579                            Fax.: 718-326-0375

Liberty Contracting Corp.                     Rite-Way Internal Removal, Inc.
25-31 94th St.                                64-05 34th Ave.
North Bergen, NJ 07047                        Woodside, NY 11377
Contact: Mr. Dominick Bullaro                 Contact: Mr. Dave DeMato
Tel.: 201-868-7500                            Tel.: 718-458-8900
Fax.: 201-868-7501                            Fax.: 718-899-0515

<PAGE>

Masonry/Concrete/Fireproofing

EuroTech Construction Corp.                  Landmark Construction
532 West 30th St.                            146 W. 29th St.
New York, NY 10001                           New York, NY 10001
Contact: Mr. Fay Devlin                      Contact: Estimating Department
Tel.: 212-594-7474                           Tel.: 212-967-8779
Fax.: 212-594-1849

Hughes Environmental Group
147 W. 46th St., Suite 300
New York, NY 10036
Contact: Mr. Nikki Gianotti
Tel.: 212-921-1933
Fax.: 212-768-0113

<PAGE>

Architectural Woodwork

Hird/Blaker Inc.                            Nordic Interiors, Inc.
620 East 132nd St.                          56-01 Maspeth Ave.
Bronx, NY 10454                             Maspeth, NY 11378
Contact: Mr. Cliff Blaker                   Contact: Mr. Helge Halvorsen
Tel.: 718-665-3434                          Tel.: 718-456-7000
Fax.: 718-665-0524                          Fax.: 718-456-9340

Patella Woodworking                         Petersen/Geller/Spurge, Inc.
148 First Street                            485 Seventh Ave., Suite 1211
Jersey City, New Jersey 07302               New York, NY 10018
Contact: Mr. Michael Ostroff                Contact: Mr. Thomas Spurge
Tel: 201 386 9999                           Tel.: 212-244-6610
Fax: 201 386 8865                           Fax.: 212-244-0587

                                            Millwright
                                            220 East 23/rd/ Street; Suite 903
                                            New York, New York 10010
                                            Contact: Mr. Martin Sherlock
                                            Tel: 212 685 5528
                                            Fax: 212 685 1704

<PAGE>

Hollow Metal

Acme Architectural Products, Inc.             General Fire-Proof Door Corp.
513 Porter Ave.                               913 Edgewater Rd.
Brooklyn, NY 11222                            Bronx, NY 10474
Contact: Mr. David Wardeck                    Contact: Mr. Rubin Kuszel
Tel.: 718-384-7800                            Tel.: 718-893-5500
Fax : 718-599-0582                            Fax.: 718-893-l770

DCI Metro Inc.                                Secure Door & Hardware, Inc.
368 Paterson Plank Rd.                        265 46th St.
Carlstadt, NJ 07072                           Brooklyn, NY 11220
Contact: Mr. Joseph Pellagatti                Contact: Mr. Alex Kuchka
Tel.: 201-935-7200                            Tel.: 718-492-1222
Fax.: 201-935-0640                            Fax.: 718-492-0933

<PAGE>

Hardware

AAA Architectural Hardware Co.               DCI Metro Inc.
44 West 46th St.                             368 Paterson Plank Rd.
New York, NY 10036                           Carlstadt, NJ 07072
Contact: Mr. Richy Brown                     Contact: Mr. Joseph Pellagatti
Tel.: 212-840-3939                           Tel.: 201-935-7200
Fax.: 212-921-5086                           Fax.: 201-935-0640

Acme Architectural Products                  Secure Door & Hardware, Inc.
513 Porter Ave.                              265 46th St.
Brooklyn, NY 11222                           Brooklyn, NY 11220
Contact: Mr. David Wardeck                   Contact: Mr. Alex Kuchka
Tel.: 718-384-7800                           Tel.: 718-492-1222
Fax.: 718-599-0582                           Fax.: 718-492-0933

<PAGE>

Glass & Glazing

F&F Architectural Glass & Metal, Inc.           Metralite Industries Inc.
242 East 137th St.                              132-70 34th Ave./PO Box 5467
Bronx, NY 10451                                 Flushing, NY 11354
Contact: Mr. Robert Forzani                     Contact: Estimating Department
Tel.: 718-402-7710                              Tel.: 718-961-1770
Fax.: 718-993-2792                              Fax.: 718-359-6541

Jonathan Metal & Glass, Ltd.                    New Jersey Glass Co.
105-20 Jamaica Ave.                             134 North 11th St./PO Box 7010
Richmond Hill, NY 11418                         Newark, NJ 07107
Contact: Mr. Wilfred Smith                      Contact: Mr. Glenn Burger
Tel.: 718-846-8000                              Tel.: 973-484-5277
Fax.: 718-847-9397                              Fax.: 973-484-5644

<PAGE>

Drywall/Carpentry

Donaldson Acoustics Co., Inc.               Glenn Partition Inc.
150 Wireless Blvd.                          78 Morton St.
Hauppauge, NY 11788                         New York, NY 10014
Contact: Ms. Barbara Lyons                  Contact: Mr. William Snyder
Tel.: 631-952-0800                          Tel.: 212-243-2800
Fax.: 631-952-7800                          Fax.: 212-645-7539

EuroTech Construction Corp.                 J.P. Phillips, Inc.
532 West 30th St.                           P.O. Box 1236
New York, NY 10001                          Manhasset, NY 11030
Contact: Mr. Fay Devlin                     Contact: Mr. Anthony Hefele
Tel.: 212-594-7474                          Tel.: 516-365-3697
Fax.: 212-594-1849                          Fax.: 516-365-3556

Nastasi & Associates Inc.                   Rivco Construction Corp.
147 Herricks Road                           246 East 137/th/ Street
Garden City Park                            Bronx, New York 10451
Garden City, New York 11040                 Contact: Mr. Pat Costigan
Contact: Mr. Anthony Nastasi                Tel: 718 993 4444
Tel: 516 746 1800                           Fax: 718 993 4445
Fax: 516 746 6796

Interstate Drywall
2 Brighton Road
Clifton, New Jersey 07012
Contact: Mr. Peter DeTomaso
Tel: 973 574 9400
Fax: 973 574 8990

<PAGE>

Ceramic Tile & Stone

Interior Design Flooring Corp.           William Erath & Son, Inc.
543 W. 59th St.                          4 Reith St.
New York, NY 10019                       Copiague, NY 11726
Contact: Mr. Ben Cohen                   Contact: Mr. Scott Erath
Tel.: 212-307-9100                       Tel.: 516-842-2244
Fax.: 212-307-6257                       Fax.: 516-842-4267

Eastern Design Tile & Marble             Port Morris Tile & Marble Corp.
52 Cottage Street                        1285 Oak Point Avenue
Port Chester, NY 10573                   Bronx, New York New York 10474
Contact: Mr. Kevin O'Shea                Tel: 718 378 6100
Tel.: 914 937-5400                       Fax: 718 328 1074
Fax.: 914 937-5473

<PAGE>

Acoustical Ceilings

Donaldson Acoustics Co., Inc.            J.P. Phillips, Inc.
45 Seaman Rd.                            P.O. Box 1236
Bethpage, NY 11714                       Manhasset, NY 11030
Contact: Ms. Barbara Lyons               Contact: Mr. Anthony Hefele
Tel.: 516-681-7136                       Tel.: 516-365-3697
Fax.: 516-681-7149                       Fax.: 516-365-3556

EuroTech Construction Corp.              National Acoustics, Inc.
532 West 30th St.                        515 West 36th St., 2nd fl.
New York, NY 10001                       New York, NY 10018
Contact: Mr. Fay Devlin                  Contact: Mr. Jim McQuade
Tel.: 212-594-7474                       Tel.: 212-695-1252
Fax.: 212-594-1849                       Fax.: 212-695-4539

Nastasi & Associates Inc.                Rivco Construction Corp.
147 Herricks Road                        246 East 137/th/ Street
Garden City Park                         Bronx, New York 10451
Garden City, New York 11040              Contact: Mr. Pat Costigan
Contact: Mr. Anthony Nastasi             Tel: 718 993 4444
Tel: 516 746 1800                        Fax: 718 993 4445
Fax: 516 746 6796

<PAGE>

Painting & Wallcovering

Hudson-Shatz Painting Co., Inc.          Murray Hill Painting Co., Inc.
429 W. 53rd St.                          10-29 48th Ave.
New York, NY 10019                       Long Island City, NY 11101
Contact: Mr. Herb Ullman                 Contact: Mr. Larry Barton
Tel.: 212-757-6363                       Tel.: 718-482-7575
Fax.: 212-265-2178                       Fax.: 718-482-7581

Mid-Manhattan Painting, Inc.             Newport Painting & Decorating Co., Inc.
321 44th St.                             532 West 30th St.
New York, NY 10036                       New York, NY 10001
Contact: Mr. Dino Erbeli                 Contact: Mr. Brendan Murray
Tel.: 212-265-5809                       Tel.: 212-465-9080
Fax : 212-582-3768                       Fax.: 212-465-9085

<PAGE>

Raised Flooring

ARI Products, Inc.                          Hi Tech Data Floors, Inc.
P.O. Box 507                                1885 Swarthmore Ave.
Morrestown, NJ 08057                        Lakewood, NJ 08701
Contact: Mr. Terrence Barone                Contact: Mr. Robert McCrossan
Tel.: 201-773-2777                          Tel.: 732-905-1799
Fax.: 201-773-9717                          Fax.: 732-905-1442

Computer Floors, Inc.                       Raised Computer Floors Inc.
19 Richmond St.                             280 No. Midland Ave., Bldg. "V"
Clifton, NJ 07011                           Saddle Brook, NJ 07662
Contact: Mr. Tor Sundlin                    Contact: Mr. Whitey Holmquist
Tel.: 212-564-4998                          Tel.: 201-703-8150
Fax.: 973-340-1565                          Fax.: 201-703-8154

<PAGE>

Blinds/Window Treatment

City View Blinds of New York Inc.          International Blind Contractors, Ltd.
Bklyn Navy Yard Bldg#3/63 Flushing Ave     200 Park Ave. So.
Brooklyn, NY 11205                         New York, NY 10003
Contact: Mr. Moishe Gold                   Contact: Mr. Kevin Ryan
Tel.: 718-222-3322                         Tel.: 212-473-2000
Fax.: 718-222-5074                         Fax.: 212-353-3400

DFB Sales Inc.                             LVC Window Blinds & Drapery Inc.
21-07 Borden Ave.                          176 Kansas St.
Long Island City, NY 11101                 Hackensack, NJ 07601
Contact: Mr. Jon Gmora                     Contact: Mr. John VanCalcar
Tel.: 718-729-8310                         Tel.: 201-525-0222
Fax.: 718-706-0526                         Fax.: 201-525-0345

<PAGE>

Sprinklers

Abco Peerless Sprinkler Corp.              Preferred Sprinkler Corp.
50 Midland Ave.                            3129 Bailey Ave.
Hicksville, NY 11801                       Bronx, NY 10463
Contact: Mr. Peter Bowe                    Contact: Mr. Sean Macken
Tel.: 516-294-6850                         Tel.: 718-601-4470
Fax.: 516-294-6823                         Fax.: 718-601-4716

                                           Triangle Fire Protection Corp.
                                           75-17 Cooper Ave.
                                           Glendale, NY 11385
                                           Contact: Ms. Peggy Funderburke
                                           Tel.: 718-326-9120
                                           Fax.: 718-326-9446

<PAGE>

Plumbing

Lab Plumbing & Heating Co., Inc.             Preferred Mechanical, Inc.
530 West 50th St.                            3129 Bailey Ave.
New York, NY 10019                           Bronx, NY 10463
Contact: Mr. Jerry Mariconda                 Contact: Mr. Sean Mackin
Tel.: 212-246-9690                           Tel.: 718-601-4470
Fax.: 212-581-4929                           Fax.: 718-601-4716

Par Plumbing Co.
60 North Prospect Ave.
Lynbrook, NY 11563
Contact: Mr. Marty Levine
Tel.: 516-887-4000
Fax.: 516-593-9089

<PAGE>

HVAC/Mechanical

B.P. Air Conditioning Corp.             Henick-Lane Inc.
116 Greenpoint Ave.                     42-22 Ninth St.
Brooklyn, NY 11222                      Long Island City, NY 11101
Contact: Mr. Bob Barbera                Contact: Mr. Gregg Rothman
Tel.: 718-383-2100                      Tel.: 718-786-7277
Fax.: 718-383-7096                      Fax.: 718-482-1625

Harbour Mechanical Corp.                Penguin Air Conditioning Corp.
230 West 17th St.                       26 West St.
New York, NY 10011                      Brooklyn, NY 11222
Contact: Mr. Richard Sheilds            Contact: Mr. Daniel Dubin
Tel.: 212-924-1010                      Tel.: 718-706-6500
Fax.: 212-924-9216                      Fax.: 718-706-2593

Kaback Enterprises, Inc.
45 West 25/th/ Street, 7/th/ Floor
New York, NY 10010
Contact: Mr. John Murphy
Tel.: 212-645-5100
Fax.: 212-645-8962

P.J. Mechanical Corp.
135 West 18/th/ Street
New York, New York 10011
Cortact: Mr. Jamie Pappas
Tel: 212 243 2555
Fax: 212 924 7148

Manhattan Mechanical
227 West 29/th/ Street
New York, New York 10001
Contact: Mr. Neil Lazar
Tel: 212 594 3130
Fax: 212 268 9426

<PAGE>

Electrical

Adco Electrical Corp.                         Forest Electric Corp.
380 Chelsea Rd.                               Two Penn Plaza
Staten Island, NY 10314                       New York, NY 10121
Contact: Mr. Robert Harper                    Contact: Mr. Robert Richardson
Tel.: 718-494-4400                            Tel.: 212-594-4110
Fax.: 718-982-7661                            Fax.: 212-594-4338

Campbell and Dawes Ltd.                       Unity Electric Co., Inc.
84-48 129th St.                               65-45 Fresh Meadow La.
Kew Gardens, NY 11415                         Flushing, NY 11365
Contact: Mr. Gary Dawes                       Contact: Mr. Tom Amberger
Tel.: 718-441-6300                            Tel.: 718-539-4300
Fax.: 718-441-7090                            Fax.: 718-353-4866

Kleinknecht Electric Company, Inc.            E-J Electric Installation Co.
940 Eighth Avenue                             46-41 Vernon Boulevard
New York, New York 10019                      Long Island City, New York 11101
Tel: 212 728 1800                             Contact: Mr. Robert Mann
Fax: 212 728 1823                             Tel: 718 786 9400
                                              Fax: 718 937 9120
R.B. Samuels, Inc.
325 Park Avenue South                         P.E. Stone
New York, New York 10010                      50 Watts Street
Contact:                                      New York, New York 10013
Tel: 212 645 5150                             Contact:
Fax: 212 645 7888                             Tel: 212 334 1113
                                              Fax: 212 431 6467
Hugh O'Kane Electric
570 Brook Street
Garden City, New York 11530
Tel: 516 227 0887
Fax: 516 227 1961

<PAGE>

                                    EXHIBIT P

                       CONSTRUCTION RULES AND REGULATIONS

1.0 Introduction

    These rules and regulations have been established to facilitate the needs
    of the tenants within Nine MetroTech South to complete any construction work
    following the completion of the initial construction. The building owner
    (Forest City Myrtle Associates, LLC. hereinafter defined as (FCMA)) has
    designated a building architect and engineer who are familiar with the
    building and its critical systems as well as the following rules and
    regulations. These professional consultants have been designated in order to
    assist with the review and coordination of such alteration work.

    Building Architect:      Joe Aliotta
                             Swanke Hayden Connell
                             295 Lafayette Street
                             New York, NY 10012
                             (212) 226-9696

    Building Engineer:       Michael Maybaum
                             Cosentini Associates
                             2 Penn Plaza
                             New York, NY 10121
                             (212) 615-3600

    Building Expediter:      Robert Ansersen
    (Required by FCMA)       JAM Consultants
                             104 West 29/th/ Street, 9/th/ Floor
                             New York, NY 10001
                             (212) 244-4427

    FCMA Representative:     Matthew Flocks
                             Forest City Ratner Companies
                             1 MetroTech Center North
                             Brooklyn, NY 11201
                             (718) 923-8400

    The use of any other consultants must be approved by (FCMA), which approval
    will not be unreasonably withheld or delayed. In the event other consultants
    are used; it is required they comply with the following.

2.0 General

    (2.1) Tenant will make no alterations, additions, improvements or
    replacements (which are hereinafter defined as "alterations") to or about
    the premises without (FCMA) prior written consent, and then only by (FCMA)
    architects and engineers and contractors or mechanics or Tenant's
    consultants approved by (FCMA).

    (2.2) Tenant shall, prior to commencement of any work, submit for (FCMA)
          written approval, a complete set of plans of the anticipated
          "alteration" area.

    (2.3) The proposed "alteration" area must comply with all New York City code
          requirements as applicable to the "alteration" area.

    (2.4) No work will commence without a valid New York City Department of
          Buildings permit. If required.

                                       P-1

<PAGE>

       (2.5) All inquiries, submissions and approvals shall be submitted to the
             designated (FCMA) representative.

       (2.6) Tenant shall make no "alterations" in the building that are in
             excess of One Hundred Thousand Dollars ($100,000.00), provided,
             however that on the first anniversary of the "Commencement Date"
             and on each anniversary thereafter such amount shall be increased
             by multiplying the amount in effect immediately prior to such
             anniversary of the "Commencement Date" and the denominator of which
             is the index for the month fifteen (15) months prior to such
             anniversary of the "Commencement Date". For the purposes of this
             Section 2.6, "Index" shall mean the Consumer Price Index, published
             by the United States Department of Labor.

3.0 Building Approval

       (3.1) Tenant shall submit to (FCMA) the following:

             1.) A list of Tenant's proposed contractors and or sub-contractors.
             2.) Four complete sets of plans and specifications (when
                 applicable) properly stamped by a register architect or
                 professional engineer.
             3.) All forms that are required by the most current New York City
                 Building Code.

       (3.2) (FCMA) will return the following to Tenant:

             1.) Plans approved or with comments (such approval or comments
                 shall not constitute a waiver of the Department of Buildings
                 approval or approval of other jurisdictional agencies)
             2.) (FCMA) executed building applications as submitted by Tenant.
             3.) Insurance requirements.

4.0 Building Construction Requirements and Procedures

       (4.1) Tenant shall obtain Department of Buildings approval and a permit
       from the Department of Buildings. Tenant/Contractor shall submit copies
       of all approved plans and permits to (FCMA) representative and shall post
       the original permit on the premises prior to the commencement of any
       work. All work, if performed by a contractor or subcontractor, shall be
       subject to reasonable supervision and inspection by an (FCMA)
       representative, and Tenant shall not bear any costs for such supervisory
       and inspection services.

       (4.2) All structural and floor loading requirements shall be subject to
       the prior approval of the (FCMA) designated structural engineer. All
       third party costs for such review shall be reimbursed to (FCMA) with no
       mark up by (FCMA).

       (4.3) All MEP requirements shall be subject to the prior approval of the
       (FCMA) designated mechanical and electrical engineer. When necessary,
       (FCMA) will require engineering shop drawings, which drawings must be
       approved by the (FCMA) designated engineers before the work can proceed.
       All third party costs for such review shall be reimbursed to (FCMA) with
       no mark up by (FCMA).

       (4.4) All building demolition shall be at the direction and supervision
       of the designated (FCMA) representative.

       (4.5) If a shutdown of the risers, electrical mains or HVAC systems is
       required, such work shall be approved by the designated (FCMA)
       representative and under building supervision. This work may be required
       on an after hours schedule; adequate notice shall be given to (FCMA) for
       such shutdowns.

                                       P-2

<PAGE>

         (4.6) Tenant's Contractor Shall:

               (1)  Have a superintendent or foreman on the premises at all
                    times.
               (2)  Maintain cleanliness and protection of all areas including
                    elevators and lobbies.
               (3)  Protect the front and top of all peripheral HVAC units.
                    Thoroughly clean units at the completion of such work.
               (4)  Block off supply and return grills, diffusers and ducts.
               (5)  Obtain and pay for all permits, including but not limited to
                    trash removal and street dumpster permits from the City of
                    New York.

         (4.7) All equipment and installations, which are visible from outside
         the building, must be equal to the existing base building standards.
         Any deviation from the building standards will be permitted only if
         indicated or specified on initial set of "approved alteration plans".

         (4.8) An air balancing report signed by a professional engineer shall
         be submitted to the designated (FCMA) representative.

         (4.9) Upon completion of the "alteration", Tenant shall submit to
         (FCMA) an executed Form TR-1 (if required) and or other documents
         including a sign-off by Tenant's architect indicating total compliance
         and final of approval by the New York City Department of Buildings.

         (4.10) Tenant shall submit to (FCMA) a final set of "as-built" plans
         within 45 days of completion of "alterations".

         (4.11) Additional and differing provisions in the "Lease", if any, will
         be applicable and will take precedence.

         (4.12) Security of Tenant space, tools, material etc. is the
         Contractor/Tenant responsibility.

 5.0 Electrical

         (5.1) All conduits will be supported by standoffs, not to the ceiling
         supports.

         (5.2) Plans with electrical load requirements shall be submitted to
         (FCMA's) electrical engineer to determine existing riser capacity.

         (5.3) Contractor/Tenant will provide the extension of existing fire
         alarm systems within their space. All wiring shall be in rigid
         galvanized steel conduit. Work to be coordinated with (FCMA) designated
         fire command company. All costs associated with the programming and
         reprogramming of the existing fire command center will be by Tenant.

 6.0 Equipment

         (6.1) All mechanical equipment shall be suspended with fishplate
         through the slab or steel beams depending on the structural load
         requirements.

 7.0 Public Area Signage

         (7.1) All tenant signage in public areas must be in accordance with the
         base building standards and approved by the (FCMA) designated
         architect. No tenant occupying only a single floor or less shall have
         the right to place tenant signage in public areas.

 8.0 HVAC

                                       P-3

<PAGE>

          (8.1) Contractor/Tenant shall be responsible for alterations to the
          existing HVAC system and for insuring that such work is properly
          integrated into the existing building HVAC systems in accordance with
          the "approved alteration plans".

          (8.2) Any variation or deviation from the approved HVAC plans must be
          brought to the attention of the designated (FCMA) representative.

          (8.3) All periphery shut-off valves must be accessible to (FCMA)
          building personnel.

          (8.4) All exhaust fans shall be discharged to the atmosphere not into
          the existing ceilings or building return air systems.

          (8.5) All ductwork and condensate lines must be insulated.

 9.0 Plumbing

          (9.1) All plumbing work will be in accordance with the most current
          New York City Building Code.

          (9.2) All new fixtures shall match existing base building standards.
          The design of specific fixtures need not match each other unless
          located in the same lavatory.

          (9.3) No exposed plumbing is permitted.

          (9.4) All unused piping shall be removed or capped at the respective
          riser.

          (9.5) All runs from the plumbing risers shall be in copper pipe.

          (9.6) All plumbing lines shall be properly insulated where applicable.

          (9.7) No modifications to the existing plumbing systems will be
          permitted without prior written approval from the designated (FCMA)
          representative.

 10.0 Sprinklers

          (10.1) All sprinkler work will be in accordance with the most current
          New York City Building Code.

          (10.2) All hydraulic calculations will be provided to designated
          (FCMA) representative for review.

          (10.3) Pipe and all connections are to be screwed not welded. No
          mechanical connections will be permitted within the Tenant space.

          (10.4) All sprinkler heads must be Factory Mutual approved.

 11.0 Ceilings

          (11.1) All ceiling work will be in accordance with the most current
          New York City Building Code.

          (11.2) All ceiling work will be supported independently.

 12.0 Preservation of Utilities

          (12.1) The Contractor/Tenant shall take every precaution to preserve
          and protect utilities such as power lines, telephone lines, sewers
          etc., that may be within the limits of the "alteration work". The
          Contractor/Tenant will be charged for all damage caused by the
          "alteration work" to the existing utilities within the building.

                                       P-4

<PAGE>

13.0   Negligence

          (13.1) Any cost of performance due to the negligence of the
          Contractor/Tenant or anyone directly employed by him or due to failure
          to comply with all applicable laws, ordinances, rules and regulations
          which should be generally known to a contractor or due to failure to
          observe and comply with the contract either for repairs, replacement,
          refinishing, disposal of material wrongly supplied or the making good
          of defective work or damage to the property shall be borne by the
          Contractor/Tenant.

14.0   Repair to adjacent areas

          (14.1) It shall be the responsibility of the Contractor/Tenant to
          repair any areas damaged by the approved "alteration work" outside of
          the approved work area.

15.0   Material Moving

          (15.1) It shall be the responsibility of the Contractor/Tenant to make
          all arrangements through the building office and pay all charges for
          hoisting, material moving and elevator charges associated with it.

          (15.2) Contractor is to contact the building manager for the
          scheduling and coordination of freight elevator usage for deliveries
          and rubbish removal.

16.0  Protection

          (16.1) It will be the responsibility of the Contractor/Tenant to
          provide, erect and maintain weather protection, and all other items
          required for the proper protection of the workmen engaged in the
          demolition operation, the public and any adjacent work areas. To
          provide and maintain weather protection at exterior openings so as to
          fully protect the interior premises against all damage from the
          existing structure designated to remain where demolition and removal
          work is being done, connections made, materials handled or equipment
          moved.

          (16.2) Contractor/Tenant will be responsible for any damage caused to
          the existing structure or contents by reason of not providing required
          protection.

          (16.3) All marble and lobby areas must be protected with masonite or
          material with similar protection characteristics.

17.0  Requirements for Construction

          (17.1) Construction workers are to enter through a designated entrance
          only.

          (17.2) All deliveries must be made through a designated area, unless
          otherwise directed by building management.

          (17.3) Drinking alcohol or the use of drugs will not be permitted.

          (17.4) Construction personnel may only use designated bathroom
          facilities and must maintain them to the existing building standards.
          At the end of the approved "alterations work" bathrooms are to be in
          the same condition prior to the commencement of construction; except
          for normal wear and tear.

18.0  Requirements for exterior work

          (18.1) All exterior work must be tiled and approved with the proper
          governmental agencies.

          (18.2) Protection must be provided to the general public.

                                       P-5

<PAGE>

          (18.3) If any work is to take place other than normal business hours,
          it must be approved by designated (FCMA) representative.

          (18.4) All disturbed public areas must be restored to their original
          condition.

                                      P-6

<PAGE>

                                    EXHIBIT Q
                              RULES AND REGULATIONS

     The following shall be the Rules and Regulations for the Building except
that, with regard to Tenant (i) Rule I 14 and 17 shall be inapplicable, (ii)
Rule I 15 and 31 shall be superseded by the applicable provisions of the Lease,
(iii) Rule II 7 and 8 shall be inapplicable, and (iv) Rule II 9 shall be
superseded by the applicable provisions of Section 8.2(a) of the Lease:

I.   Tenant shall not:

     1.  Obstruct, encumber or use, or allow to permit any of its employees,
agents, licensees or invitees to use, the sidewalks, driveways, entrances,
passages, courts, arcades, esplanade areas, plazas, elevators, vestibules,
stairways, corridors or halls of the Building, outside of the Premises, in such
a manner as to obstruct ingress and egress to and from the Building or the
Premises.

     2.  Attach awnings or other projections to the outside walls of the
Building or place bottles, parcels or other articles, or lettering visible from
the exterior, on the windows, windowsills or peripheral air-conditioning
enclosures.

     3.  Attach to, hang on or use in connection with, any exterior windows or
entrance door of the Premises, any blinds, except as designate by Landlord, or,
at Tenant's option, blinds, shades or screens designated by Tenant and approved
by Landlord, such approval not to be unreasonably withheld. All drapes shall be
hung on the interior side of the window blinds.

     4.  Place or leave any doormat or other floor covering in any area outside
of the Premises.

     5.  Exhibit, inscribe, paint or affix any sign, insignia, advertisement,
object or other lettering in or on any windows, doors, walls or part of the
outside or inside of the Building (exclusive of the inside of the Premises)
without Landlord's approval, which approval shall not unreasonably be denied or
withheld. The name(s) of Tenant and any permitted sublessee may be displayed on
the entrance doors and, with respect to any full floor that Tenant leases, the
walls of the elevator lobby on any such floor, of the Premises occupied by each.
The method by which any signs are to be affixed to the Building shall be subject
to Landlord's approval, which shall not be denied provided that Landlord is
satisfied same will not damage the finish of the Building's interior surface
upon removal.

                                       Q-1

<PAGE>

     6.  Cover or obstruct the sashes, sash doors, skylights, windows and doors
that reflect or admit light and air into the halls, passageways or other public
areas of the Building.

     7.  Place in, attach to, put in front of, or affix to any part of the
exterior of the Building, or any of the Building's halls, doors, corridors or
vestibules located outside of the Premises, any lettering, signs, decorations,
showcases, displays, display windows, packages, boxes or other articles, unless
and except to the extent expressly permitted in the Lease.

     8.  Except in the normal decoration of the interior of the Premises, mark,
paint, drill into or in any way deface any part of the Building or the Premises
or cut, bore or string wires therein.

     9.  Permit or allow bicycles or vehicles of any kind to be brought into or
kept on or about the Building or the Premises other than in any area
specifically provided for same.

     10. Make, or permit or allow to be made, any unseemly or disturbing noises,
whether by musical instruments, recordings, radio talking machines, television,
whistling, singing or in any other way, which might unreasonably disturb other
occupants in the Building or those having business with them or impair or
unreasonably interfere with the use or enjoyment by others of neighboring
buildings or Premises.

     11. Bring into or keep on any part of the Premises or the Building any
inflammable, combustible, radioactive or explosive fluid, chemical or substance,
other than customary office supplies.

     12. Place upon any of the doors (other than closet or vault doors) or
windows in the Building any locks or bolts which shall not be operable by the
grand master key for the Building, or make any changes in locks or the
mechanisms thereof which shall make such locks inoperable by said grand master
key unless such change is approved by Landlord, in which event Tenant shall give
Landlord duplicate keys for such locks or bolts.

     13. Remove, or carry into or out of the Premises or the Building, any safe,
freight, furniture, any bulky packages, boxes or crates or any heavy objects
except in such freight or other elevators as Landlord may reasonably determine
from time to time.

     14. Engage or pay any employees on the Premises except those actually
working for Tenant in the Premises, or advertise for laborers giving the
Premises as an address.

     15. Obtain, permit or allow in the Building the purchase, or acceptance for
use in the Premises, by means of a service cart, vending machines or otherwise,
of any ice, drinking water,

                                       Q-2

<PAGE>

food, tobacco in any form, beverage, towel, barbering, boot blackening,
cleaning, floor polishing or other similar items or services from any persons,
except such persons, during such hours, and at such places within the Building
and under such requirements as may be reasonably determined by Landlord with
respect to the furnishing of such items and service, provided that the charges
for such items and services by such persons are not excessive.

     16. Close and leave the Premises at any time without closing all operable
windows.

     17. Permit entrance doors to the Premises to be left open at any time or
unlocked when the Premises are not in use.

     18. Encourage canvassing, soliciting or peddling in any part of the
Building outside of the Premises.

     19. Use, or permit or allow any of its employees, contractors, suppliers or
invitees to use, any space or part of the Building, including the passenger
elevators or public halls thereof, in the moving, delivery or receipt of safes,
freight, furniture, packages, boxes, crates, paper, office material or any other
matter or thing, any hand trucks, wagons or similar items which are not equipped
with such rubber tires, side guards and other safeguards which shall have been
approved by Landlord or use any such hand trucks, wagons or similar items in any
of the passenger elevators.

     20. Cause or permit any food odors or any other unusual or objectionable
odors to emanate from the Premises or permit any cooking or preparation of food
except in areas approved by Landlord and in compliance with local ordinances.

     21. Create or permit a public or private nuisance.

     22. Throw or allow or permit to be thrown anything out of the doors,
windows or skylights or down the passageways of the Building.

     23. Lay vinyl tile or other similar floor covering so that the same shall
come in direct contact with the floor or in a manner or by means of such pastes
or other adhesives which shall not have been approved by Landlord, it being
understood that if linoleum or other similar floor covering is desired to be
used, an interlining of builder's deadening felt shall be first affixed to the
floor, by a paste or other material which is soluble in water, the use of cement
or other similar adhesive material being expressly prohibited.

     24. Use, allow or permit the passenger elevators to be used by Tenant's
working hands (persons in rough clothing handling packages, cartons and
shipments of materials - routine

                                       Q-3

<PAGE>

mailroorn deliveries excepted) or persons carrying bulky packages or by persons
calling for or delivering goods to or from the demised Premises in a manner
likely to cause damage to the passenger elevators and Tenant shall cooperate
with Landlord in enforcing this rule on those making deliveries to Tenant.

       25. Request any of Landlord's agents, employees or contractors to perform
any work, or do anything, outside of their regular duties, unless previously
approved by the Building manager

       26. Invite to the Premises or the Building, or permit the visit of,
persons in such numbers or under such conditions as to unreasonably interfere
with the use and enjoyment of any of the plazas, entrances, corridors, arcades,
escalators, elevators or other facilities of the Building by other occupants
thereof.

       27. Use, permit or allow the use of any fire exits or stairways for any
purpose other than emergency use, except to the extent expressly provided in the
Lease.

       28. Employ any firm, person or persons to move safes, machines or other
heavy objects into or out of the Building, without prior approval of Landlord of
such persons and the manner in which such items will be moved, which approval
shall not be unreasonably withheld or delayed.

       29. Install or use any machines or machinery of any kind whatsoever which
may unreasonably disturb any persons outside of the Premises.

       30. Use the water and wash closets or other plumbing fixtures for any
purpose other than those for which they were constructed, or allow or permit
sweepings, rubbish, rags or other solid substances to be thrown therein.

       31. Install any carpeting or drapes, or paneling, grounds or other
decorative wood products considered furniture, which are not treated with fire
retardant materials and, in such event, shall submit, to Landlord's
reasonable satisfaction, proof or other reasonable certification of the
materials' reasonably satisfactory fire retardant characteristics.

II. Tenant shall:

    1.     Pay Landlord for any damages, costs or expenses incurred by Landlord
with respect to the breach of any of the Rules and Regulations by Tenant, or any
of its servants, agents, employees, licensees or invitees, or the misuse by
Tenant, or any of the aforesaid, of any fixture or part of the Premises or the
Building and shall cause its servants, agents, employees,

                                       Q-4

<PAGE>

licensees and invitees to comply with the Rules and Regulations contained in or
provided for by this Lease.

       2.  Upon the termination of this Lease, turn over to Landlord all keys,
either furnished to, or otherwise procured by, Tenant with respect to any locks
used by Tenant in the Premises or the Building and, in the event of the loss of
such keys, pay to Landlord the cost of procuring same.

       3.  Subject to the provisions of Article 34 hereof, refrain from, and
immediately upon receipt of notice thereof, discontinue any violation or breach
of the Rules and Regulations contained in or provided for by this Lease.

       4.  Request Landlord to furnish passes to persons whom Tenant desires to
have access to the Premises during times other than Business Hours and be
reasonable and liable to Landlord for all persons and acts of such persons for
whom Tenant request such passes.

       5.  Furnish artificial light and electrical energy (unless Landlord shall
furnish electrical energy as a service included in the Rent) at Tenant's expense
for the employees of Landlord or Landlord's contractors while doing janitorial
or other cleaning services or while making repairs or alterations in the
Premises.

       6.  Apply at the office of the Building's manager with respect to all
matters and requirements of Tenant which require the attention of Landlord, its
agents or any of its employees.

       7.  Pay Landlord's reasonable charges for the installation and
replacement of ceiling tiles removed for Tenant by telephone installers or other
in the Premises and public corridors, if any.

       8.  INTENTIONALLY OMITTED.

       9.  Pay Landlord's reasonable charges for the hiring or providing of
security guards during times when Tenant, or any subtenant of Tenant, is moving
into or out of portions of the Premises or when significant quantities of
furniture or other materials are being brought into or removed from the
Premises.

       10. Comply with such rules and regulations as may be promulgated from
time to time with respect to the use of the common areas of the Metrotech
Complex as are applicable to all tenants of the Metrotech Complex.

III. Landlord shall:

                                       Q-5

<PAGE>

     1.  Have the right to inspect all freight objects or bulky matter (except
printed matter) brought into the Building and to exclude from the Building all
object and matter which violate any of the Rules and Regulations contained in or
provided by this Lease.

     2.  Have the right to require any person leaving the Premises with any
package, or other object or matter, to submit a pass, listing such package or
object or matter, from Tenant.

     3.  Have no liability or responsibility for the protection of any of
Tenant's property as a result of damage or the unauthorized removal of any such
property resulting wholly or in part from Landlord's failure to enforce in any
particular instance, or generally, any of Landlord's rights.

     4.  Have the right to require all persons entering or leaving the Building,
during hours other than Business Hours, to sign a register and may also exclude
from the Building, during such hours, all persons who do not present a pass to
the Building signed by Landlord.

     5.  Furnish passes to persons for whom Tenant requests same.

     6.  Have the right to control and operate the public portions of the
Building and the public facilities, as well as facilities furnished for the
common use of other occupants of the Building.

     7.  Subject to the notice and cure provisions expressly provided in the
Lease, have the right to remove any violation of paragraph I items 2, 3, 4, 5, 6
or 7 of these Rules and Regulations without any right of Tenant to claim any
liability against Landlord, and have the right to impose a reasonable charge
against Tenant for removing any such violation or repairing any damages
resulting therefrom.

                                      Q-6

<PAGE>

                                    EXHIBIT R

                                             Primary Corporate, Public
                                             and Academic Tenants

                                             Bear Steams & Company
                                                1 MetroTech Center North
                                             Dibner Library and Center
                                             for Advanced Technology
                                             in Telecommunications
                                                5 MetroTech Center
                                             Internal Revenue Service
                                                10 MetroTech Center
                                             J.P. Morgan Chase
                                                3 & 4 MetroTech Center
                                             KeySpan Energy
                                                1 MetroTech Center
                                             Minority Business
                                             Innovation Center
                                                14 MetroTech Center
          [MAP OF METROTECH CENTER]          New York City Department of
                                             Information Technology &
                                             Telecommunications
                                                11 MetroTech Center
                                             New York City Police
                                             Department Public Safety
                                             Answering Center (E-911)
                                                11 MetroTech Center
                                             New York City Fire
                                             Department Headquarters
                                                9 MetroTech Center North
                                             Polytechnic University, Rogers Hall
                                                6 MetroTech Center
                                             Securities Industry Automation
                                             Corporation (SIAC)
                                                2 MetroTech Center
                                             Verizon
                                                7 & 8 MetroTech Center

<PAGE>

                                   EXHIBIT U
                                 BASE BUILDING

                    TENANT'S MINIMUM SECURITY SPECIFICATIONS
                           TO BE PROVIDED BY LANDLORD

A.   Security CCTV
     1.    Digital with enough storage for 90 days of activity
     2.    Cameras located in Elevators, Lobby, Parking Garage, Loading Dock
     3.    EBCBS to be able to monitor all cameras. Monitors at Tenant's expense

B.   Physical Security - 24 hours/7 days
     1.    Dedicated security personnel in Lobby.

<PAGE>

                            FIRST AMENDMENT OF LEASE

     This FIRST AMENDMENT OF LEASE made as of this 23rd day of April, 2002
between FOREST CITY MYRTLE ASSOCIATES, LLC ("Landlord") having an office located
c/o Forest City Ratner Companies, One MetroTech Center North, Brooklyn, New York
11201 and EMPIRE HEALTHCHOICE, INC. d/b/a EMPIRE BLUE CROSS BLUE SHIELD, a New
York not-for-profit corporation ("Tenant") having an office at 11 West 42/nd/
Street, New York, New York 10036 (hereinafter, this "First Amendment").

                              W I T N E S S E T H:

     WHEREAS, Landlord, as landlord, and Tenant, as tenant, entered into a
certain Agreement of Lease, dated as of January 17, 2002, (the "Lease") for the
lease of certain premises more fully and particularly described in the Lease
(the "Premises") on the second through ninth (2/nd/-9/th/) floors of the
building known as Nine MetroTech Center South, Borough of Brooklyn, County of
Kings, New York;

     WHEREAS, Landlord and Tenant now desire to amend the Lease as hereinafter
set forth.

     NOW, THEREFORE, in consideration of Ten Dollars ($10.00) and other good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged by the parties, and intending to be legally bound hereby, the
parties hereto by these presents do covenant and agree as follows:

     1. The following provisions of the Lease are hereby amended as follows:

        (a)    Section 7.1(d) of the Lease is hereby deleted and replaced with
the following:

               "(d) Tenant has advised Landlord that Tenant presently intends to
     convert into a for-profit corporation that will be a wholly-owned
     subsidiary of a publicly traded corporation to be known as "WellChoice"
     ("Well") promptly upon obtaining all necessary regulatory approvals and the
     fulfillment of all other requirements and conditions for the closing of
     such transaction or series of transactions, and, in connection with such
     transaction or series of transactions, Tenant presently intends to transfer
     all or substantially all of its assets to Well (such transactions are
     hereinafter collectively referred to as the "Conversion"), or wholly-owned
     direct or indirect subsidiaries of Well, and in connection with such
     transfer of all or substantially all of its assets, to assign this Lease to
     Well. Accordingly, supplementing Section 7.1(b) and without limiting any
     other provision of this Article 7, Landlord expressly agrees that Tenant
     shall have the right, upon prior notice to Landlord, but without the
     consent of Landlord, to assign this Lease to Well, or a successor
     corporation or partnership, or an Affiliate of Well or an entity acquiring
     all or substantially all of the issued and outstanding stock or all or
     substantially all of the assets of Well (provided, that the acquiring
     entity, on a consolidated basis with all of its wholly-owned direct or
     indirect subsidiaries, shall have a tangible net worth immediately
     following such acquisition at least equal to the tangible net worth of Well
     immediately prior to such acquisition), and to have Well assume all the
     obligations under this Lease, which assignment and assumption are intended
     to be incident to the Conversion; provided, however, that (i) Well shall
     provide Landlord and/or any

<PAGE>

     Mortgagee with a debt credit rating (or shadow rating) report by Standard
     and Poors and/or Moody's with respect to Well and its direct and indirect
     wholly-owned subsidiaries (A) promptly following the request of any
     Mortgagee made after the effective date of any such assignment and
     assumption, and (B) thereafter from time to time promptly following the
     reasonable request by Landlord or the request any Mortgagee, and (ii) the
     other conditions set forth in Section 7.1(b) are satisfied. In the event
     that Well shall not, at the time of any such request, be able to provide a
     debt credit rating by Standard and Poors and/or Moody's, Well shall
     promptly make all necessary arrangements to obtain a shadow rating with the
     foregoing rating agencies, and shall cooperate with such agencies and
     provide all information regarding the businesses and affairs of Well and
     its direct and indirect wholly-owned subsidiaries as such agencies shall
     customarily require in order to obtain such shadow rating, it being
     acknowledged and agreed by Tenant and Well that the obligation to provide
     any such debt credit rating (or shadow rating) report shall be a material
     obligation under this Lease. Within ten (10) Business Days after the
     closing of the Conversion, Tenant shall deliver to Landlord a fully
     executed counterpart original of an assignment and assumption agreement
     effectuating, pursuant to the Conversion, the assignment of this Lease from
     Tenant to Well and the assumption by Well of all of the obligations of
     Tenant under this Lease, which assignment and assumption shall be effective
     upon the closing of the Conversion."

          (b) Section 7.13 of the Lease is hereby deleted and replaced with the
following:

          "(a) If (1) there shall be an assignment of this Lease by Tenant to
     any entity other than Well having a Minimum Credit Rating (as hereinafter
     defined) both on the date of Tenant's Notice (if applicable) and on the
     effective date of the assignment and assumption, and an assumption by such
     entity of all the obligations of Tenant under this Lease, in each case in
     accordance with the terms of this Article 7, and provided Tenant shall not
     be in default of any of its monetary and material non-monetary obligations
     hereunder either on the date of Tenant's Notice (if applicable) or on the
     effective date of the assignment and assumption, and (2) such assignee
     shall have a Minimum Credit Rating, then Tenant (i.e., the assignor) shall
     be released from any and all liability hereunder (except with respect to
     obligations that expressly survive the Expiration Date, and except for the
     obligation to provide and maintain in full force and effect the Letter of
     Credit (or a replacement thereof) as required pursuant to Article 43 of
     this Lease) accruing from and after the later to occur of (i) the effective
     date of such assignment and assumption and (ii) the date on which Tenant
     shall establish to Landlord's reasonable satisfaction and Mortgagee's
     satisfaction that such assignee has the Minimum Credit Rating. The term
     "Minimum Credit Rating" shall mean in connection with any assignment or
     subletting permitted under this Article 7, that the assignee or subtenant,
     as applicable, has a debt credit rating by Standard and Poors and/or
     Moody's equal to or greater than "BBB+" and/or "Baal", respectively.

          (b) If (1) there shall be an assignment of this Lease by Tenant to
     Well, and an assumption by Well of all obligations of Tenant under this
     Lease, in each case in accordance with the terms of Section 7.1(d) of this
     Lease, including, without limitation, an assumption by Well of all
     obligations of Tenant that accrued prior to the Asset Transfer Date and the
     obligation to provide and maintain in full force and effect the Letter of
     Credit (or a replacement thereof) as required pursuant to Article 43 of
     this Lease, and (2) Tenant shall not be in default of any of its monetary
     or material non-

                                       2

<PAGE>

     monetary obligations hereunder either on (A) the date of Tenant's Notice
     (if applicable), (B) the effective date of the assignment and assumption,
     or (C) the Asset Transfer Date (as hereinafter defined), and (3) on or
     prior to the Asset Transfer Date, Tenant or Well shall provide Landlord and
     Mortgagee with a written certification of a Certified Public Accountant (as
     hereinafter defined) certifying, to Landlord's reasonable satisfaction and
     Mortgagee's satisfaction, that all or substantially all of the assets of
     Tenant (i.e., the assignor) have been transferred to Well and/or its direct
     and indirect wholly-owned subsidiaries, then Tenant (i.e., the assignor)
     shall be released from any and all liability hereunder accruing from and
     after the Asset Transfer Date. The term "Certified Public Accountant" shall
     mean an independent, nationally-recognized certified public accountant
     reasonably satisfactory to Landlord and satisfactory to Mortgagee, and the
     term "Asset Transfer Date" shall mean the date on which all or
     substantially all of the assets of Tenant (i.e., the assignor) have been
     transferred to Well and/or its direct and indirect wholly-owned
     subsidiaries. At any time that there has been an assignment of this Lease
     by Tenant to Well and until all of the conditions of 1, 2 and 3 above have
     been satisfied and the Asset Transfer Date has occurred, both Tenant and
     Well shall be jointly and severally liable for all of Tenant's payment and
     performance obligations under this Lease."

     2. The definition of the term "Guarantor" in Section 12.1 is hereby
deleted.

     3. The parties confirm that Landlord commenced of construction of the
Building on or about November 15, 2001 and has diligently prosecuted
construction of the Building through the date hereof.

     4. Tenant has timely given an Early Expansion Notice pursuant to Section
40.1(a) of the Lease, and the Early Expansion Space consists of the entire
10/th/ and 11/th/ floors of the Building. Tenant has not given a Reduction
Notice pursuant to Section 40.1(b) of the Lease, and Tenant's right to give a
Reduction Notice has expired or been irrevocably waived.

     5. The sum of "Eleven Million Two Hundred Seventy-Seven Thousand Nine
Hundred and Eighty and 00/100 Dollars ($11,277,980)" in Section 16.20(b)(i)(A)
of the Lease is hereby deleted and replaced with the sum of "Thirteen Million
Seven Hundred Thirty-Seven Thousand Nine Hundred and Ninety and 00/100 Dollars
($13,737,990)". The sum of "One Million Two Hundred Fifty-Nine Thousand Four
Hundred and Thirty-Five and 00/100 Dollars ($1,259,435)" in Section
16.20(b)(i)(B) of the Lease is hereby deleted and replaced with the sum of "One
Million Five Hundred Two Thousand Three Hundred Nineteen and 00/100 Dollars
($1,502,319)". The parenthetical expression "as each of (A) and (B) may be
adjusted pursuant to Section 40.1(b)(iv))" in Section 16.20(b)(i) is hereby
deleted.

     6. Section 1.3(a)(iv)(C) is hereby amended to delete the words "actual
portion of" and "drawn down" in the first and second lines of such clause (C),
it being agreed by Landlord and Tenant that if the entire Rentalized Amount
shall not be drawn down by Tenant in accordance with Sections 16.20(d) and (e)
of the Lease as of the Rent Commencement Date, Landlord shall deposit the
balance of the Rentalized Amount remaining to be disbursed to Tenant into an
interest-bearing escrow account maintained with the Institutional Lender making
its construction loan, and Tenant shall (1) continue to have the right to draw
down the balance of the Rentalized Amount remaining to be disbursed pursuant to
Sections 16.20(d) and (e) of the Lease, together with any interest accruing on
the sums held from time-to-time in such escrow account,

                                       3

<PAGE>

in accordance with such Sections, and (2) Tenant shall make payments of interest
to Landlord required under Section 1.3(a)(iv) on the entire Rentalized Amount.

     7. Section 43.2 of the Lease is hereby modified by adding the following at
the end thereof:

          Furthermore, Landlord shall have the right at any time and from
     time-to-time to transfer any interest Landlord may have in the Letter of
     Credit to Landlord's then Institutional Lender, which shall thereafter have
     the rights of Landlord under the Letter of Credit to draw down the full
     amount of the Letter of Credit pursuant to the terms of this Section 43.2
     and apply the proceeds thereof to the repayment of any loan made by such
     Institutional Lender to Landlord on account of the Rentalized Amount. For
     the avoidance of doubt, Landlord and Tenant agree that the rights of
     Landlord or Landlord's Institutional Lender to draw down the full amount of
     the Letter of Credit and apply the proceeds thereof to the repayment of any
     loan made by such Institutional Lender to Landlord on account of the
     Rentalized Amount shall not be limited or impaired in any way as a result
     of (a) any bankruptcy filing or proceeding by or against Tenant, (b) any
     limit or cap on Landlord's claim against Tenant in any such bankruptcy
     filing or proceeding or (c) any rejection of this Lease in a bankruptcy of
     Tenant.

     8. The Lease, as amended by this First Amendment, sets forth the entire
understanding and agreement of Landlord and Tenant with respect to the Premises
and the transactions set forth therein and herein, and any and all prior
understandings or agreements, oral or written, between Landlord and Tenant are
merged herein. Neither the Lease nor this First Amendment may be changed orally,
but only by an agreement in writing signed by Landlord and Tenant.

     9. The covenants, conditions, provisions and agreements contained in this
First Amendment shall bind and inure to the benefit of the parties hereto and
their respective legal representatives, successors and, except as otherwise
provided in the Lease, their respective permitted assigns.

     10. Capitalized terms used and not otherwise defined herein shall have the
respective meanings set forth in the Lease.

     11. This First Amendment may be executed by the undersigned on any number
of separate counterparts, each of which when so executed and delivered shall be
an original, but all such counterparts shall together constitute but one and the
same instrument.

     12. Except as specifically amended by this First Amendment, all terms and
conditions of the Lease shall remain in full force and effect. The Lease, as
amended by this First Amendment, is hereby ratified and confirmed by Landlord
and Tenant for all purposes and in all respects.

     13. (a) Tenant has requested and Landlord has agreed, subject to the
provisions of this Paragraph 13, (i) to enter into a Change Order modifying
Paragraph C.1. of Exhibit J to the Lease by, among other things, providing, as
part of the Base Building Work, two (2) rather than one (1) DX variable air
volume unit(s) (the "DX unit(s)") for each floor of the Premises (the "DX Change
Order"), (ii) that all DX units in the Premises shall be connected to Tenant's
exclusive electric risers and two of such DX units on an office floor of the
Premises selected by Landlord and in a location reasonably agreed upon by
Landlord and Tenant shall be sub-metered

                                       4

<PAGE>

(collectively, the "Sub-Metered DX Units") so as to measure Tenant's consumption
of electricity on a rentable square footage basis in that portion of the
Premises served by such Sub-Metered DX Units during Business Hours during the
Base Operating Expense Year, (iii) that Tenant shall pay for the electricity
used to operate all DX units in the Premises during Business Hours directly to
the public utility company, and (iv) that there shall be an annual credit to
Tenant's Operating Expense Payment equal to the Base Year DX Unit Business Hours
Electric Cost as more fully set forth in sub-paragraph (d) below.

          (b) The scope of work for the DX Change Order is set forth in the
correspondence attached hereto as Exhibit A and in Landlord's construction
bulletin 8 which Tenant is currently reviewing in accordance with the applicable
provisions of the Lease. Notwithstanding anything to the contrary in Section
16.5(a) of the Lease: (i) Landlord has provided Tenant with a proposal including
Landlord's estimate of the costs to be incurred by Tenant if Landlord performs
the DX Change Order; (ii) Tenant has tentatively accepted Landlord's proposal,
subject only to Landlord furnishing reasonably detailed back-up for Landlord's
cost estimate (the "DX Change Order Back-Up") to Tenant for Tenant's approval;
(iii) Landlord shall furnish the DX Change Order Back-Up to Tenant as soon as
reasonably practicable after the execution and delivery of this First Amendment
by Landlord and Tenant; (iv) Tenant's approval of the DX Change Order Back-Up
shall constitute final acceptance of Landlord's proposal by Tenant; (v) in order
to minimize Tenant Delay in connection with incorporating the DX Change Order
into the Base Building Work, Landlord shall commence work on the DX Change Order
prior to Tenant's approval of the DX Change Order Back-Up; and (vi) within five
(5) Business Days after Tenant's receipt of the DX Change Order Back-Up, Tenant
shall either approve the DX Change Order Back-Up or withdraw its request for the
DX Change Order (Tenant's failure to approve the DX Change Order Back-Up within
such five (5) Business Day period shall constitute Tenant's election to withdraw
its request for the DX Change Order); provided, however, that in the event that
Tenant in good faith believes Landlord has made an arithmetic miscalculation in
the cost estimate contained in the DX Change Order Back-Up, then the DX Change
Order shall be deemed approved and the parties shall mutually and reasonably
agree to correct such arithmetic miscalculation.

          (c) Landlord acknowledges that as a consequence of the DX Change
Order, the electricity used by Tenant to operate all DX units in the Premises
during Business Hours shall be paid for by Tenant directly to the public utility
company, all in accordance with Article 4 of the Lease. Accordingly, if Tenant
approves the DX Change Order Back-Up and thereby accepts Landlord's proposal for
the DX Change Order, then upon such approval and acceptance Section 3.2(a)(iv)
of the Lease shall be deemed amended to delete the words "so-called `DX Units'
(or similar apparatus) within tenantable portions of the Building during
Business Hours" from the definition of "Building Operating Expenses", and
deleting from exclusion (3) of such definition the words "other than electricity
for the operation of so-called `DX Units' (or similar apparatus) within
tenantable portions of the Building during Business Hours".

          (d) As part of the DX Change Order, Landlord shall install sub-meters
or other devices as shall be necessary in order to measure the electricity used
by Tenant to operate the Sub-Metered DX Units in the Premises during Business
Hours during the Base Operating Expense Year (the "DX Sub-Meter"). If Tenant
approves the DX Change Order Back-Up and thereby accepts Landlord's proposal for
the DX Change Order, then (1) Landlord agrees to cause Quad Logic or any other
reputable submeter company selected by Landlord (the "Sub-Meter Reader"), to
monitor the DX Sub-Meter so as to measure the electricity used by Tenant to
operate the Sub-Metered DX Units during Business Hours during the Base Operating
Expense

                                       5

<PAGE>

Year, and Landlord shall furnish Tenant, as part of the first Operating Expense
Statement issued by Landlord pursuant to Section 3.2(c) of the Lease, with a
reasonably detailed analysis of the cost per rentable square foot of the
Premises (excluding for these purposes, the rentable square footage of Tenant's
data center in the Premises and any other portion of the Premises served by
supplemental (i.e. not general office use) DX units) which would have been
incurred by Landlord to the public utility company in order to furnish the
electricity used by Tenant to operate all DX units in the Premises (excluding
for these purposes, the rentable square footage of Tenant's data center in the
Premises and any other portion of the Premises served by supplemental (i.e. not
general office use) DX units) during Business Hours during the Base Operating
Expense Year (the "Base Year DX Unit Business Hours Electric Cost"), which
calculation shall be based upon the product of (A) the cost per rentable square
foot which would have been incurred by Landlord to the public utility company in
order to furnish the electricity used by Tenant to operate the Sub-Metered DX
Units during Business Hours during the Base Operating Expense Year, multiplied
by (B) the rentable square footage of the Premises (including for this purpose,
the rentable square footage of Tenant's data center in the Premises and any
other portion of the Premises served by supplemental (i.e. not general office
use) DX units) during the Base Operating Expense Year; (2) Tenant shall have the
right to (A) dispute the Base Year DX Unit Business Hours Electric Cost in
accordance with Section 3.3(a) of the Lease, (B) dispute the readings made by
the Sub-Meter Reader with respect to the DX Sub-Meter and (C) check the DX
Sub-Meter from time to time during the Base Operating Expense Year to confirm
the Sub-Meter Reader's readings thereof; and (3) Landlord and Tenant agree that
during the Term there shall be an annual credit to Tenant's Operating Expense
Payment equal to the Base Year DX Unit Business Hours Electric Cost, which
credit shall be given in twelve (12) equal monthly installments equal to
one-twelfth (1/12/th/) of the Base Year DX Unit Business Hours Electric Cost.

          (e) If Tenant disapproves the DX Change Order Back-Up or Tenant's
request for the DX Change Order is deemed withdrawn, then (i) Landlord shall
install the DX units referred to in the existing Paragraph C.1. of Exhibit J to
the Lease instead of the DX Units referred to in the DX Change Order, (ii)
Tenant shall reimburse Landlord, within thirty (30) days after receipt of
Landlord's invoice therefor, for all reasonably documented costs incurred by
Landlord in connection with stopping work on the DX Change Order and reinstating
the work set forth in the existing Paragraph C.1. of Exhibit J to the Lease,
(iii) all delays incurred by Landlord in commencing or completing the Initial
Base Building Work or in commencing or completing any item(s) of the Post
Delivery Base Building Work and arising from stopping work on the DX Change
Order and reinstating the work set forth in the existing Paragraph C.1. of
Exhibit J to the Lease shall be deemed Tenant Delays, (iv) notwithstanding
anything to the contrary in Section 16.7(a) of the Lease, no further notice to
Tenant of the circumstances giving rise to such Tenant Delays shall be required,
but Landlord shall provide a reasonably detailed initial estimate of the extent
of the time delay and the increase in Landlord's costs within thirty (30) days
after Tenant's withdrawal or deemed withdrawal of the DX Change Order as set
forth above, and thereafter Landlord shall advise Tenant of any additional time
delay or increased costs promptly after Landlord has actual knowledge of same,
(v) Landlord shall be entitled to all rights and remedies available to Landlord
under the Lease with respect to such Tenant Delays, (vi) any costs to be
reimbursed by Tenant pursuant to subsection (ii) of this subparagraph (e) shall
be disregarded for purposes of the Five Million Dollar ($5,000,000) limitation
set forth in the last sentence of Section 16.7(b) of the Lease; and (vii) the
provisions of subparagraphs (c) and (d) of this Paragraph 13 shall be of no
further force and effect.

                                       6

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have respectively executed this
First Amendment as of the day and year first above written.

                           Landlord:         FOREST CITY MYRTLE ASSOCIATES, LLC
                                             By: RRG Myrtle, LLC, Member

                                                  By:   /s/ David L. Berliner
                                                     ---------------------------
                                                     Name: DAVID L. BERLINER
                                                     Title:  SR. VICE PRESIDENT

                           Tenant:           EMPIRE HEALTHCHOICE, INC. d/b/a
                                             EMPIRE BLUE CROSS BLUE SHIELD

                                             By:________________________________
                                                Name:
                                                Title:

                                       7

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have respectively executed this
First Amendment as of the day and year first above written.

                            Landlord:      FOREST CITY MYRTLE ASSOCIATES, LLC
                                           By: RRG Myrtle, LLC, Member

                                               By:______________________________
                                                  Name:
                                                  Title:

                            Tenant:        EMPIRE HEALTHCHOICE, INC. d/b/a
                                           EMPIRE BLUE CROSS BLUE SHIELD

                                           By:     /s/ Michael A. Stocker
                                              ----------------------------------
                                              Name: Michael A. Stocker, MD
                                              Title: CEO

                                       7

<PAGE>

                                   EXHIBIT A

                               FOREST CITY MYRTLE
                                 ASSOCIATES LLC

April 12th, 2002

Ms. Barbara Calamusa
Linea Architects
220 East 23/rd/ Street
5/th/ Floor
New York, NY 10010

                     RE: Lease between "Empire HealthChoice, Inc. d/b/a
                     Blue Cross Blue Shield and Forest City Myrtle
                     Associates, LLC."

Dear Barbara,

Attached is the Landlord's TAW #1 for the splitting of the HVAC units in the
amount of $409,089.46. Also attached is Landlord's TAW #2 in the amount of
642,834.00 for the N+1 upgrade for the mechanical systems portion only. Please
have the appropriate person execute the attached and process for payment. Upon
receipt back to Forest City, we will execute and provide Empire with a fully
executed copy.

Should you have any further questions please call me at 718-923-8460.

                                                Sincerely,

                                                /s/ Matthew Flocks
                                                ----------------------------
                                                Matthew Flocks

cc: w/ attachment
       Robert Sanna
       Jim Stuckey
       Joseph Rechichi
       Robert Rediker
       Joe Rechichi
       Ken Browne
       Sadie Mitnick
       Marc Rauch, Esq.
       Alan Lascher, Esq.
       EHC, Inc., General Counsel
       Alex Riveira
       David Ford
       Karen Zientek

1 MetroTech Center North Brooklyn NY 11201 (718) 923-8400 Fax: (718) 722-3533

<PAGE>

================================================================================
Forest City Myrtle Associates, LLC                        TENANT ADDITIONAL WORK
1 Metro Tech Center North                                              No. 00001
3rd Floor                       Phone: 718-932-8460
Brooklyn, NY 11201                Fax: 718-932-8760
--------------------------------------------------------------------------------
TITLE:    Splitting of the HVAC Units                     DATE: 4/11/2002

PROJECT:  9 MetroTech South                               JOB: 1381

TO:       Empire Blue Cross Blue Shield                   CONTRACT NO: 1381-00
          11 West 42nd Street
          New York, NY 10036

ATTN:     John Donovan

    RE:              To:              From:                  Number:

DESCRIPTION OF CHANGE
This Tenant Additional Work (TAW) is for the splitting of the HVAC units. The
cost is as follows:

$374,830.00 - ASM Mechanical
$ 26,238.10 - General Conditions 7%
$  8,021.36 - Fee 2%
--------------------
$409,089.46

<TABLE>
<S>                                                                                    <C>
                                                                    Unit Cost:                $0.00
                                                                     Unit Tax:                $0.00
                                                                     Lump Sum:          $409,089.46
                                                                     Lump Tax:                $0.00
                                                                                       ------------
                                                                        Total:          $409,089.46
---------------------------------------------------------------------------------------------------
The Original contract Sum was ........................................................        $0.00
Net Change by Previously Authorized Requests and Changes .............................        $0.00
The Contract Sum Prior to This Tenant Additional Work was ............................        $0.00
The Contract Sum Will be Increased ...................................................  $409,098.46
The New Contract Sum Including This Tenant Additional Work ...........................  $409,089.46
The Contract Time Will Not be Changed ................................................
The Date of Substantial Completion as of this Tenant Additional Work Therefore is ....
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<S>                                <C>                                     <C>
ACCEPTED:
Empire Blue Cross Blue Shield      Forest City Myrtle Associates, LLC      FCR Construction Services, LLC

By:__________________________      By:_______________________________      By:___________________________
        John Donovan                           Matt Flocks                             Joseph Rechichi

Date:________________________      Date:_____________________________      Date:_________________________
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
Forest City Myrtle Associates, LLC                        TENANT ADDITIONAL WORK
1 Metro Tech Center North                                              No. 00001
3rd Floor                          Phone: 718-923-8460
Brooklyn, NY 11201                   Fax: 718-923-8760
--------------------------------------------------------------------------------
TITLE:     Splitting of the HVAC Units               DATE: 4/ll/2002

PROJECT:   9 MetroTech South                         JOB: 1381

TO:        Empire Blue Cross Blue Shield             CONTRACT NO: 1381-00
           11 West 42nd Street
           New York, NY 10036

ATTN:      John Donovan

     RE:              To:              From:                  Number:

DISTRIBUTION OF CHANGE
                                          Total to Distribute:       $409,089.46
             999999-C-74J  Tenant Recoverables - Empire Blue         $409,089.46
                                                                    ------------
                                            Total Distributed:       $409,089.46

<PAGE>

                               Forest City Myrtle
                                 ASSOCIATES LLC

March 26, 2002

Ms. Barbara Calamusa
Linea Architects
220 East 23/rd/ Street
5/th/ Floor
New York, NY 10010

                                RE: Lease between "Empire HealthChoice, Inc.
                                d/b/a Blue Cross Blue Shield and Forest City
                                Myrtle Associates, LLC."

Dear Barbara,

Please find attached the additional back-up for the splitting of the HVAC-units
as requested at last weeks job meeting. In addition, ASM Mechanical Systems
contacted AMA to clarify any questions I believe they had as it related to this
change.

Should you have any questions please call me at 718-923-8460.

                                                Sincerely,

                                                /s/ Matthew Flocks
                                                --------------------------
                                                Matthew Flocks

 cc: w/o attachment
          Robert Sanna
          Jim Stuckey
          Joseph Rechichi
          Robert Rediker
          Alex Riveira
          David Ford
          Karen Zientek

<PAGE>

                             ASM Mechanical Systems
                              255 Randolph Street
                            Brooklyn, New York 11237
          (718) 821-1166                             Fax (718) 417-7065

         To:   Forest City Ratner                Date:    3/20/02
               One Metrotech Center
               Brooklyn, New York                Doc No.: PCO-1
                                                 Project: 9 Metrotech Center
         Attn:     Joe Rechichi                             22-020me
         Subject: Low Rise Core Plan Changes

                             Proposed Change Order
--------------------------------------------------------------------------------

As per your request, below is the itemized breakdown for PCO-1 "Low Rise Core
Plan Changes".

Drafting:                                                            $  1,200.00

Low Rise 2 thru 5
-----------------
Furnish and install duct, $1,200.00/per floor (4 floors)             $  4,800.00
Furnish and install auto damper, $2,000.00/per floor (4 floors)      $  8,000.00
Wiring and controls $800.00/per floor (4 floors)                     $  3,200.00

Floor 6 thru 11
---------------
Equipment, $19,250.00/per floor (6 floors)                           $115,500.00
Set and assemble (6) units, $3,800.00/per floor (6 floors)           $ 22,800.00
Piping, valves & gauges, $9,500.00/per (6 floors)                    $ 57,000.00
Insulation, $1,200.00/per floor (6 floors)                           $  7,200.00
Furnish and install duct and lining, $14,000.00/per floor (6 floors) $ 84,000.00
Controls, $3,000.00/per floor (6 Floors)                             $ 18,000.00
Balancing, $600.00/per floor (6 Floors)                              $  3,600.00
                                                                     -----------

                                                      Subtotal       $325,300.00
                                                      10% Overhead   $ 32,530.00
                                                                     -----------
                                                      Subtotal       $357,830.00
                                                      5% Profit      $ 17,000.00
                                                                     -----------
                                                      TOTAL          $374,830.00

 Should you have any questions, please contact the undersigned.

Very truly yours,

/s/ Richard Minieri
-----------------------
Richard Minieri
President

<PAGE>

                             ASM Mechanical Systems
                              255 Randolph Street
                           Brooklyn, New York 11237
              (718) 821-1166                      Fax (718) 417-7065

    To:  Forest City Ratner                       Date:    3/14/02
         One Metrotech Center
         Brooklyn, New York                       Doc No.: PCO-1
                                                  Project: 9 Metrotech Center
    Attn:    Joe Rechichi                                  22-020me
    Subject: Low Rise Core Plan Changes

                             Proposed Change Order

Additional charges to furnish and install the following work as shown
on sketches "low rise core plan 2 thru 5, add 6/th/ thru 11/th/ floor", as per
fax dated 3/7/02. (sketches enclosed)

Breakdown:
----------

Drafting =                         $  1,200.00
New duct and lining =              $114,400.00
Piping and insulation =            $127,000.00
Controls =                         $ 16,000.00
New equipment =                    $115,400.00

Total cost of proposed change to contract............................$374,000.00
Change to contract completion date...................................     0 days

Originated by ASM Mechanical Systems   Acknowledged by Forest City Ratner

Signed: /s/ Richard Minieri            Signed:
       ----------------------------
    By: Richard Minieri, President
  Date: 3/14/02                               __________________________________
                                                       (print name here)

                                       Date:  __________________________________

<PAGE>

                                   [PLAN]

NOTE (WITH 2 UNITS PER FLOOR)
-----------------------------
1. EACH UNIT SHALL BE NOMINAL 55-60 TON.
                              ----------
2. MER ROOM TO BE ENLARGED.
   --------------------------------

                               6TH THRU 11TH FL.
                               -----------------

<PAGE>

                                   [PLAN]

NOTE:
-----

1. ALD NORMALLY CLOSED. IF ALD OPEN, SM ON RETURN ON STAND-BY UNIT IS CLOSED.

                               LOW RISE CORE PLAN
                               ------------------

                                2ND THRU 5TH FL.
                                ----------------

<PAGE>

================================================================================
Forest City Myrtle Associates, LLC                        TENANT ADDITIONAL WORK
1 Metro Tech Center North                                               No.00002
3rd Floor                      Phone: 718-923-8460
Brooklyn, NY 11201               Fax: 718-923-8760
--------------------------------------------------------------------------------

TITLE:   N + 1 Upgrade                                    DATE: 4/11/2002

PROJECT: 9 MetroTech South                                JOB: 1381

TO:      Empire Blue Cross Blue Shield                    CONTRACT NO: 1381-00
         11 West 42nd Street
         New York, NY 10036

ATTN:    John Donovan

      RE:                To:                 From:                Number:

DESCRIPTION OF CHANGE

This Tenant Additional Work (TAW) is for the N + 1 upgrade. The cost is as
follows:

$589,000.00 - ASM Mechanical
$ 41,230.00 - General Conditions 7%
$ 12,604.60 - Fee 2%
-------------------
$642,834.60

<TABLE>
<S>                                                                                   <C>
                                                                     Unit Cost:              $0.00
                                                                      Unit Tax:              $0.00
                                                                      Lump Sum:        $642,834.60
                                                                      Lump Tax:              $0.00
                                                                                    --------------
                                                                         Total:        $642,834.60
--------------------------------------------------------------------------------------------------
The Original Contract Sum was ........................................................       $0.00
Net Change by Previously Authorized Requests and Changes .............................       $0.00
The Contract Sum Prior to This Tenant Additional Work was ............................       $0.00
The Contract Sum Will be Increased ................................................... $642,834.60
The New Contract Sum Including This Tenant Additional Work ........................... $642,834.60
The Contract Time Will Not Be Changed ................................................
The Date of Substantial Completion as of this Tenant Additional Work Therefore is ....
--------------------------------------------------------------------------------------------------
</TABLE>

ACCEPTED:

<TABLE>
<S>                                 <C>                                     <C>
Empire Blue Cross Blue Shield       Forest City Mytrle Association, LLC     FCR Construction Services, LL

By: ___________________________     By: _______________________________     By: ____________________________
          John Donovan                           Matt Flocks                          Joseph Rechichi

Date: _________________________     Date: _____________________________     Date: __________________________
</TABLE>

<PAGE>

================================================================================
Forest City Myrtle Associates, LLC                        TENANT ADDITIONAL WORK
1 Metro Tech Center North                                              No. 00002
3rd Floor                        Phone: 718-923-8460
Brooklyn, NY 11201                 Fax: 718-923-8760
--------------------------------------------------------------------------------

TITLE:   N + 1 Upgrade                                    DATE: 4/11/2002

PROJECT: 9 MetroTech South                                JOB: 1381

TO:      Empire Blue Cross Blue Shield                    CONTRACT NO: 1381-00
         11 West 42nd Street
         New York, NY 10036

ATTN:    John Donovan

     RE:               To:                From:                Number:

DISTRIBUTION OF CHANGE
                                        Total to Distribute:         $642,834.60

           999999-C-74J  Tenant Recoverables - Empire Blue           $642.834.60
                                                             -------------------
                                          Total Distributed:         $642,834.60

<PAGE>

                             ASM Mechanical Systems
                              255 Randolph Street
                            Brooklyn, New York 11237
                (718) 821-1166              Fax (718) 417-7065

                                                Date:     3/8/02
To:      Forest City Ratner
         One Metrotech Center
         Brooklyn, New York                     Doc No.:  Let-1
                                                Project:  9 Metrotech Center
Attn:    Gene DelBene                                     22-020me
Subject: Add Alternate 404

Dear Mr. DelBene,

Tenant HVAC enhancement for floors 2 through 10 above base building requirements
to support tenant's critical technology areas and disaster recovery floor with
the following minimum criteria to include:

CW Plant
Increase by 200T plus 200T of spare capacity

Equipment (Primary & secondary pumping equipment) Towers, pumps, plate & frame
exchangers and all associated accessories and components (ie: vibration
isolation, thermometers & gauges, starters, speed drives etc.)

Equipment                                    Add   $70,600.00
Piping                                       Add   $247,000.00
Insulation                                   Add   $35,000.00
Controls                                     Add   $140,000.00

Fuel Oil Pumping System
Additional 100KU generator plant fuel oil system, fuel oil pumping and storage
equipment

Fuel Oil Pumping System                      Add   $15,400.00
Fuel Oil Piping                              Add   $81,000.00

TOTAL                                        Add   $589,000.00

Approximate - 400 tons @ $1,472.50/ton

Sincerely,
ASM Mechanical Systems

/s/ Richard Minieri
--------------------
Richard Minieri
President

<PAGE>

                               Forest City Myrtle
                                 ASSOCIATES LLC

January 14, 2002

Ms. Barbara Calamusa
Linea Architects
220 East 23/rd/ Street
5/th/ Floor
New York, NY 10010

                              RE: Lease between "Empire HealthChoice, Inc. d/b/a
                              Blue Cross Blue Shield and Forest City Myrtle
                              Associates, LLC."
Dear Barbara,

     Attached is the Landlords notification for the costs of the N+1 upgrade.
This is in accordance with section 16.5 (a) (iii) of the above referenced Lease.
As you will see from the attached, the estimated cost for the upgrades is
$2,305,833.00. This cost does not include the owners and or owner's
constructions manager's general conditions and fee.

     The 1/11/03 documents have been released and a better-defined scope and
price for this work will be available in approximately 3 weeks. We will provide
those numbers to you upon receipt of same.

     Should you have any questions please call me at 718-923-8460.

                                        Sincerely,

                                        /s/  Matthew Flocks
                                        --------------------------
                                        Matthew Flocks
                                        Project Manager

cc: w/o attachment
        James Stuckey
        Robert Sanna
        Joseph Rechichi
        Robert Rediker
        Sadie Mitnick
        Marc Rauch, Esq.
        Alan Lascher, Esq.
        EHC, Inc., General Counsel
        Alex Riveira
        David Ford
        Karen Zientek

<PAGE>

                     [LETTERHEAD OF ASM MECHANICAL SYSTEMS]

                                                  January 10, 2002

Forest City Ratner
One Metrotech Center
Brooklyn, New York
Attn: Mr. Joe Rickicki

RE:    9 Metrotech Center

Dear Mr. Rickicki,

We are pleased to submit our price for the HVAC work at the above referenced
location. All work will be in accordance with mechanical drawings M-001 -- M-503
dated 12/03/01 as prepared by Cosentini Associates.

Our price for this work is: $12,240,000.00

Our breakout pricing for Tenant Work is as follows:

1.    Fuel Oil Pumping System Add 800 Gls.          $   115,000.00

2.    Additional 400 tons Cond. Water plant         $   440,000.00
      (NOT INCLUDING DX UNITS)

3.    Controls (100 pts.)                           $   138,000.00

Excluded from our price:

   -   Specifications for H.V.A.C work and ATC work
   -   Power Wiring; Fire Alarm and life safety work
   -   Seismic requirement (Life Safety only)
   -   Any tenant distribution work
   -   Concrete pads, inertia concrete
   -   Slabs or roof penetrations
   -   Hoisting charges
   -   Tower crane -- Pick for equipment, pipe and duct
   -   Rubbish Removal
   -   Temporary heat, A/C, ventilation etc.
   -   Painting and stenciling

<PAGE>

                     [LETTERHEAD OF ASM MECHANICAL SYSTEMS]

Re:   9 Metrotech Center
      Continued -- Exclusions

  -   Fire Smoke and smoke dampers as shown only
  -   Structural steel work
  -   Cooling towers service platforms, stairs, railing etc.
  -   Fire rated enclosures

If you should have any questions, or wish to discuss this further, please feel
free to call me at any time.

                                        Sincerely,

                                        /s/ Richard Minieri
                                        -------------------
                                        Richard Minieri
                                        President

RM:arm

<PAGE>

[GRAPHIC]                 Fred Geller Electrical, Inc.
                      Electrical Contractors and Engineers
                 36-26 31st Street Long Island City, N.Y. 11106
                     Tel. (718) 729-2944 Fax (718) 729-3514

January 14, 2002
Forest City Ratner Companies
One Metro Tech Center North
Brooklyn, NY 11210

Attention: Mr. Joseph Rechichi

Reference: 9 MetroTech Center South
           EBCBS-Electrical Enhancements
           FGE Estimate #2878-02

Gentlemen:

We are pleased to issue our proposal to provide for electrical work associated
with the EBCBS-Electrical Enhancements in accordance with the following
documents prepared by Cosentini Associates:

      .   Drawings E-302, E-306 and E-401 all dated 12/12/01
      .   Cosentini Electrical Enhancement items 1 thru 7, 2-pages (undated
          received by FCR on 12/18/02)

Proposal Breakdown
------------------

1.    Provide additional 1200A service switch at MS-A            $17,900.00

2.    Provide additional 2000A service switch at MS-B            $21,700.00

3.    Provide 800A distribution panel DP-HBCBS-A                 $13,600.00

4.    Provide 1600A distribution panel DP-HBCBS-B                $21,200.00

5.    Feeders for: AC Critical Power:
           a) Normal AC Critical Power
                DP-HBCBS-A to 2/nd/ floor west                   $50,200.00
                DP-HBCBS-B to 2/nd/ floor east                   $36,100.00
           b) Emergency AC Critical Power:
                Paralleling Switchboard 9/th/ floor west         $46,700.00
                Paralleling Switchboard 9/th/ floor east         $33,800.00

<PAGE>

<TABLE>
<S>                                                                             <C>
Fred Geller Electrical, Inc.
        January 14, 2002
        Page 2
        Reference: 9 MetroTech Center South
                   EBCBS- Electrical Enhancements
                   FGE Estimate #2878-02

        Proposal Breakdown - continued

        6. Feeders for: Technical Power:
              a)   Normal Tech Power
                     DP-HBCBS-A to 2/nd/ floor west                             $   50,200.00
                     DP-HBCBS-B to 2/nd/ floor east                             $   36,100.00
              b)   Emergency Tech Power:
                     Paralleling Switchboard to 9/th/ floor west                $   46,700.00
                     Paralleling Switchboard to 9/th/ floor east                $   33,800.00

        7. Normal Non-Critical Supplemental AC Power                            $   31,800.00
              DP-HBCBS-B to 2/nd/ floor East

        8. Emergency Plant:
           Total value of Emergency Plant consisting of:
                     (3) 1500KW - in door generators
                     (1) Paralleling switchboard
                     (1) 800A AT'S (serving Dp-HER)
                         Start Up
                         Load Bank testing
                         Commissioning
           Total Value = $ 2,210,000.00
           Total KW/AMPS = 4500 KW/5421 AMPS
           Cost per KW = $491.00 per KW/ $408.00 per AMP
           Conclusion:
                     EBCBS's total fused amps at the paralleling
                     switchboard is equal to 2600AMPS or 2163 KW @
                     $491.00 per KW                                             $1,062,033.00

        9. Tele Communications Conduit
            (6) 4" Foundation sleeves at (2)POE                                 $    3,000.00
            (2) 4" Conduits 2/nd/ floor east & west tele closet                 $   65,000.00
            (1) 4" conduit from upper mech PH to 9/th/ floor east and
                west telephone closets                                          $   43,000.00

                                Total Items 1 thru 9                            $1,612,833.00
</TABLE>

<PAGE>

Fred Geller Electrical, Inc.

        January 14, 2002
        Page 3
        Reference: 9 MetroTech Center South
                   EBCBS- Electrical Enhancements
                   FGE Estimate #2878-02

       We thank you for the opportunity to be of service to you. Should you
       require additional information, please contact the undersigned.

       Very truly yours,

       FRED GELLER ELECTRICAL, INC.

       /s/ Vincent J. Giliberto
       Vincent J. Giliberto
       Executive VP

       cc:  S. Sage

<PAGE>
                                    COSENTINI
                                    ---------

                                     9 SOUTH
              EMPIRE BASE BUILDING MEP ENHANCEMENTS WITHOUT FEES

                                                            Cosentini Associates
                                                            Consulting Engineers
     HVAC
     ----

     1.   200 tons of additional condenser water plus 200 tons of spare capacity
          shall be provided as part of combined condenser water system above
          base building requirements. Base building cooling towers, primary and
          secondary condenser water pumps, heat exchangers and condenser water
          risers will be upsized accordingly. Emergency generators will be
          increased in capacity to provide for emergency power to run cooling
          tower (cells), pump(s) and critical supplementary A/C units. This is
          shown on drawings M-100, M-302, M-302, M-401, M-402.

     2.   Monitoring of critica1 building system functions using subsystem of
          the building management system (BMS), key temperature, status and
          alarm points related to condenser water, emergency power, fuel oil,
          supplemental A/C, etc. Fee sha11 be provided for tenant use. This
          will be shown in base building fina1 specs. Assume 100 Points.

     3.   Increase fuel oil system to provide emergency power for 1000 KW plus
          ful1 standby. Base building fuel system will be sized for life safety
          and tenant critical loads. Total plant size is 4500KW including
          redundancy. Fuel oil system wil1 be provided for 24 hour service. 2
          tanks, risers, pumps (N+1) and connection to day tanks on roof will
          be provided. See drawings M-101 and M-503.

     Electrical
     ----------

     1.   Two (2) 400A, 46OV, 3 phase directly metered feeders shall be provided
          from separate electrical services and dedicated for this tenant
          distribution panels 1ocated in main switchboard room in the cellar,
          and delivered to 2nd floor East and West electrical closets with
          diverse distribution routes. Two (2) same size feeders will be
          delivered from paralleling switchgear located in lower mechanical
          penthouse to 9th floor East and West electrical closets with diverse
          distribution routes. These feeders are for tenant's independent
          critical air conditioning systems and shall be terminated in pull
          boxes in electrica1 closets on floors mentioned above. This is shown
          on drawings E-102, E-301 and E-401.

     2.   Two (2) 400A, 460V, 3 phase directly metered feeders sha11 be provided
          from separate electrical services and dedicated for this tenant
          distribution panels located in main switchboard room in the cellar,
          and delivered to 2nd floor East and West electrical closets with
          diverse distribution routes. Two (2) same size feeders will be
          delivered from paralleling switchboard located in lower mechanical
          penthouse to 9th floor East and West electrical closets with diverse
          distribution routes. These feeders are for tenant's technical power
          and sha11 be terminated in pull boxes in electrical closets on floors
          mentioned above. This is shown on drawings E-102, E-301 and E-401.

<PAGE>

                                                            Cosentini Associates
                                                            Consulting Engineers

3.   500A, 460V, 3 phase directly metered feeder shall be delivered to 2/nd/
     floor East electrical closet from dedicated for this tenant distribution
     panel located in main switchboard room in cellar. This feeder is for
     tenant's non-critical supplemental air conditioning system. This
     information is shown on drawings E-102, E-301 and E-401.

4.   Six (6) 4" sleeves through foundation wall shall be provided at two (2)
     diverse P.O.E. for telecommunication system. This information is shown on
     drawings E-102 and E-306.

5.   Two (2) 4" empty conduits (EMT) shall be delivered to 2/nd/ floor East and
     West telephone closets from each P.O.E. with diverse routes. Each closet
     shall receive two (2) conduits, one from each P.O.E. These conduits are for
     tenant's telecommunication system and will bypass building main telephone
     closets. This information is shown on drawing E-102 and E-306.

6.   Separate 4" empty conduits (EMT) shall be delivered to 9/th/ floor East and
     West telephone closets with diverse routes from satellite equipment closet
     located in upper mechanical penthouse. These conduits are for tenant's
     telecommunication system. This information is shown on drawing E-306.

7.   The switchboards, generator plant, and paralleling switchgear are
     increasing in size to accommodate for redundancy and 1000KW of emergency
     power plus full standby (N/1). This information is shown on drawings E-111,
     E-301, and E-401.

<PAGE>

                       [LETTERHEAD OF FOREST CITY MYRTLE]
March 26, 2002

Ms. Barbara Calamusa
Linea Architects
220 East 23/rd/ Street
5/th/ Floor
New York, NY 10010

                    RE: Lease between "Empire HealthChoice, Inc. d/b/a
                    Blue Cross Blue Shield and Forest City Myrtle
                    Associates, LLC."

Dear Barbara,

Please find attached the additional back-up for the splitting of the HVAC units
as requested at last weeks job meeting. In additon, ASM Mechanical Systems
contacted AMA to clarify any questions I believe they had as it related to this
change.

Should you have any questions please call me at 718-923-8460.

                                        Sincerely,

                                        /s/ Matthew Flocks
                                        --------------------------
                                        Matthew Flocks

cc: w/o attachment
        Robert Sanna
        Jim Stuckey
        Joseph Rechichi
        Robert Rediker
        Alex Riveira
        David Ford
        Karen Zientek

<PAGE>

                             ASM Mechanical Systems
                              255 Randolph Street
                            Brooklyn, New York 11237
                   (718) 821-1166       Fax (718) 417-7065

        To:  Forest City Ratner                    Date:     3/20/02
             One Metrotech Center
             Brooklyn, New York                    Doc No.:  PCO-1
                                                   Project:  9 Metrotech Center
        Attn:     Joe Rechichi                               22-020me
        Subject:  Low Rise Core Plan Changes

                             Proposed Change Order

As per your request, below is the itemized breakdown for PCO-1 "Low Rise Core
Plan Changes".

<TABLE>
<S>                                                                         <C>
Drafting:                                                                   $  1,200.00

Low Rise 2 thru 5
-----------------
Furnish and install duct, $1,200,00/per floor (4 floors)                    $  4,800.00
Furnish and install auto damper, $2,000.00/per floor (4 floors)             $  8,000.00
Wiring and controls $800.00/per floor(4 floors)                             $  3,200.00

Floor 6 thru 11
---------------
Equipment, $19,250.00/per floor,(6 floors)                                  $115,500.00
Set and assemble (6) units $3,800.00/per floor (6 floors)                   $ 22,800.00
Piping, valves & gauges, $9,500.00/per (6 floors)                           $ 57,000.00
Insulation, $1,200.00/per floor (6 floors)                                  $  7,200.00
Furnish and install duct and lining, $14,000.00/per floor (6 floors)        $ 84,000.00
Controls, $3,000.00/per floor(6 Floors)                                     $ 18,000.00
Balancing, $600.00/per floor(6 Floors)                                      $  3,600.00
                                                                            -----------

                                                          Subtotal          $325,300.00
                                                          10% Overhead      $ 32,530.00
                                                                            -----------
                                                          Subtotal          $357,830.00
                                                          5% Profit         $ 17,000.00
                                                                            -----------
                                                          TOTAL             $374,830.00
</TABLE>

Should you have any questions, please contact the undersigned.

Very truly yours,

/s/ Richard Minieri
---------------------
Richard Minieri
President

<PAGE>

                             ASM Mechanical Systems
                              255 Randolph Street
                            Brooklyn, New York 11237
                   (718) 821-1166          Fax (718) 417-7065

        To:    Forest City Ratner             Date:     3/14/02
               One Metrotech Center
               Brooklyn, New York             Doc No.:  PCO-1
                                              Project:  9 Metrotech Center
        Attn:     Joe Rechichi                          22-020me
        Subject:  Low Rise Core Plan Changes

                              Proposed Change Order

Additional charges to furnish and install the following work as shown on
sketches "low rise core plan 2 thru 5, add 6/th/ thru 11/th/ floor", as per fax
dated 3/7/02. (sketches enclosed)

Breakdown:

Drafting =                                     $  1,200.00
New duct and lining =                          $114,400.00
Piping and insulation =                        $127,000.00
Controls =                                     $ 16,000.00
New equipment =                                $115,400.00

Total cost of proposed change to contract .........................  $374,000.00
Change to contract completion date ................................       0 days

Originated by ASM Mechanical Systems          Acknowledged by Forest City Ratner

Signed: /s/ Richard Minieri                   Signed:
       -----------------------------
       By: Richard Minieri, President
       Date: 3/14/02                          __________________________________
                                                        (print name here)

                                              Date:_____________________________

<PAGE>

                            [6TH THRU 11TH FL. PLAN]

<PAGE>

                      [LOW RISE CORE PLAN 2ND THRU 5TH FL.]Prepared by R.R. Donnelley Financial -- Indenture

 Exhibit 4.1 
  
 
 
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D 
  
 Class A-1 1.755% Asset Backed Notes 
 Class A-2 2.04% Asset Backed Notes 
 Class A-3 2.72% Asset Backed Notes 
 Class A-4 3.40% Asset Backed Notes 

 
 
 
 INDENTURE 
  
 Dated as of September 5, 2002 
  
 
 
 JPMORGAN CHASE BANK 
 Trustee and Trust Collateral Agent

  
 

  
 TABLE OF CONTENTS 

	

 
	  	  	  	  	 Page
 

	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
 	  	 2
 
	  	  	  
	 SECTION 1.1
 	  	 Definitions
 	  	 2
 
	 SECTION 1.2
 	  	 Incorporation by Reference of Trust Indenture Act
 	  	 10
 
	 SECTION 1.3
 	  	 Rules of Construction
 	  	 10
 
	  	  	  	  	  
	 ARTICLE II THE NOTES
 	  	 11
 
	  	  	  
	 SECTION 2.1
 	  	 Form
 	  	 11
 
	 SECTION 2.2
 	  	 Execution, Authentication and Delivery
 	  	 11
 
	 SECTION 2.3
 	  	 Temporary Notes
 	  	 12
 
	 SECTION 2.4
 	  	 Registration; Registration of Transfer and Exchange
 	  	 12
 
	 SECTION 2.5
 	  	 Mutilated, Destroyed, Lost or Stolen Notes
 	  	 13
 
	 SECTION 2.6
 	  	 Persons Deemed Owner
 	  	 14
 
	 SECTION 2.7
 	  	 Payment of Principal and Interest; Defaulted Interest
 	  	 14
 
	 SECTION 2.8
 	  	 Cancellation
 	  	 16
 
	 SECTION 2.9
 	  	 Release of Collateral
 	  	 16
 
	 SECTION 2.10
 	  	 Book-Entry Notes
 	  	 16
 
	 SECTION 2.11
 	  	 Notices to Clearing Agency
 	  	 17
 
	 SECTION 2.12
 	  	 Definitive Notes
 	  	 17
 
	  	  	  	  	  
	 ARTICLE III COVENANTS
 	  	 18
 
	  	  	  
	 SECTION 3.1
 	  	 Payment of Principal and Interest
 	  	 18
 
	 SECTION 3.2
 	  	 Maintenance of Office or Agency
 	  	 18
 
	 SECTION 3.3
 	  	 Money for Payments to be Held in Trust
 	  	 18
 
	 SECTION 3.4
 	  	 Existence
 	  	 20
 
	 SECTION 3.5
 	  	 Protection of Trust Estate
 	  	 20
 
	 SECTION 3.6
 	  	 Opinions as to Trust Estate
 	  	 20
 
	 SECTION 3.7
 	  	 Performance of Obligations; Servicing of Receivables
 	  	 21
 
	 SECTION 3.8
 	  	 Negative Covenants
 	  	 22
 
	 SECTION 3.9
 	  	 Annual Statement as to Compliance
 	  	 22
 
	 SECTION 3.10
 	  	 Issuer May Consolidate, Etc. Only on Certain Terms
 	  	 23
 
	 SECTION 3.11
 	  	 Successor or Transferee
 	  	 25
 
	 SECTION 3.12
 	  	 No Other Business
 	  	 25
 
	 SECTION 3.13
 	  	 No Borrowing
 	  	 25
 
	 SECTION 3.14
 	  	 Servicer's Obligations
 	  	 25
 
	 SECTION 3.15
 	  	 Guarantees, Loans, Advances and Other Liabilities
 	  	 25
 
	 SECTION 3.16
 	  	 Capital Expenditures
 	  	 26
 
	 SECTION 3.17
 	  	 Compliance with Laws
 	  	 26
 
	 SECTION 3.18
 	  	 Restricted Payments
 	  	 26
 
	 SECTION 3.19
 	  	 Notice of Events of Default
 	  	 26
 
	 SECTION 3.20
 	  	 Further Instruments and Acts
 	  	 26
 
	 SECTION 3.21
 	  	 Amendments of Sale and Servicing Agreement and Trust Agreement
 	  	 26
 
	 SECTION 3.22
 	  	 Income Tax Characterization
 	  	 26
 
	  	  	  	  	  
	 ARTICLE IV SATISFACTION AND DISCHARGE
 	  	 27
 
	  	  	  
	 SECTION 4.1
 	  	 Satisfaction and Discharge of Indenture
 	  	 27
 
	 SECTION 4.2
 	  	 Application of Trust Money
 	  	 28
 
	 SECTION 4.3
 	  	 Repayment of Moneys Held by Note Paying Agent
 	  	 28
 
	  	  	  	  	  
	 ARTICLE V REMEDIES
 	  	 28
 
	  	  	  
	 SECTION 5.1
 	  	 Events of Default
 	  	 28
 

 
 

 i 

 
	 SECTION 5.2
 	  	 Rights Upon Event of Default
 	  	 30
 
	 SECTION 5.3
 	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
 	  	 31
 
	 SECTION 5.4
 	  	 Remedies
 	  	 33
 
	 SECTION 5.5
 	  	 Optional Preservation of the Receivables
 	  	 34
 
	 SECTION 5.6
 	  	 Priorities.
 	  	 35
 
	 SECTION 5.7
 	  	 Limitation of Suits
 	  	 35
 
	 SECTION 5.8
 	  	 Unconditional Rights of Noteholders To Receive Principal and Interest
 	  	 36
 
	 SECTION 5.9
 	  	 Restoration of Rights and Remedies
 	  	 36
 
	 SECTION 5.10
 	  	 Rights and Remedies Cumulative
 	  	 36
 
	 SECTION 5.11
 	  	 Delay or Omission Not a Waiver
 	  	 36
 
	 SECTION 5.12
 	  	 Control by Noteholders
 	  	 37
 
	 SECTION 5.13
 	  	 Waiver of Past Defaults
 	  	 37
 
	 SECTION 5.14
 	  	 Undertaking for Costs
 	  	 37
 
	 SECTION 5.15
 	  	 Waiver of Stay or Extension Laws
 	  	 38
 
	 SECTION 5.16
 	  	 Action on Notes
 	  	 38
 
	 SECTION 5.17
 	  	 Performance and Enforcement of Certain Obligations.
 	  	 38
 
	  	  	  	  	  
	 ARTICLE VI THE TRUSTEE AND THE TRUST COLLATERAL AGENT
 	  	 39
 
	  	  	  
	 SECTION 6.1
 	  	 Duties of Trustee
 	  	 39
 
	 SECTION 6.2
 	  	 Rights of Trustee
 	  	 40
 
	 SECTION 6.3
 	  	 Individual Rights of Trustee
 	  	 42
 
	 SECTION 6.4
 	  	 Trustee's Disclaimer
 	  	 42
 
	 SECTION 6.5
 	  	 Notice of Defaults
 	  	 42
 
	 SECTION 6.6
 	  	 Reports by Trustee to Holders
 	  	 42
 
	 SECTION 6.7
 	  	 Compensation and Indemnity
 	  	 42
 
	 SECTION 6.8
 	  	 Replacement of Trustee
 	  	 43
 
	 SECTION 6.9
 	  	 Successor Trustee by Merger
 	  	 44
 
	 SECTION 6.10
 	  	 Appointment of Co-Trustee or Separate Trustee
 	  	 45
 
	 SECTION 6.11
 	  	 Eligibility: Disqualification
 	  	 46
 
	 SECTION 6.12
 	  	 Preferential Collection of Claims Against Issuer
 	  	 46
 
	 SECTION 6.13
 	  	 Appointment and Powers
 	  	 46
 
	 SECTION 6.14
 	  	 Performance of Duties
 	  	 47
 
	 SECTION 6.15
 	  	 Limitation on Liability
 	  	 47
 
	 SECTION 6.16
 	  	 Reliance Upon Documents
 	  	 48
 
	 SECTION 6.17
 	  	 Successor Trust Collateral Agent.
 	  	 48
 
	 SECTION 6.18
 	  	 Compensation
 	  	 49
 
	 SECTION 6.19
 	  	 Representations and Warranties of the Trust Collateral Agent
 	  	 49
 
	 SECTION 6.20
 	  	 Waiver of Setoffs
 	  	 50
 
	 SECTION 6.21
 	  	 Control by the Controlling Party
 	  	 50
 
	  	  	  	  	  
	 ARTICLE VII NOTEHOLDERS’ LISTS AND REPORTS
 	  	 50
 
	  	  	  
	 SECTION 7.1
 	  	 Issuer To Furnish To Trustee Names and Addresses of Noteholders
 	  	 50
 
	 SECTION 7.2
 	  	 Preservation of Information; Communications to Noteholders
 	  	 50
 
	 SECTION 7.3
 	  	 Reports by Issuer
 	  	 51
 
	 SECTION 7.4
 	  	 Reports by Trustee
 	  	 51
 
	  	  	  	  	  
	 ARTICLE VIII ACCOUNTS, DISBURSEMENTS AND RELEASES
 	  	 51
 
	  	  	  
	 SECTION 8.1
 	  	 Collection of Money
 	  	 51
 
	 SECTION 8.2
 	  	 Release of Trust Estate
 	  	 52
 
	 SECTION 8.3
 	  	 Opinion of Counsel
 	  	 52
 
	  	  	  	  	  
	 ARTICLE IX SUPPLEMENTAL INDENTURES
 	  	 52
 
	  	  	  
	 SECTION 9.1
 	  	 Supplemental Indentures Without Consent of Noteholders
 	  	 52
 
	 SECTION 9.2
 	  	 Supplemental Indentures with Consent of Noteholders
 	  	 54
 
	 SECTION 9.3
 	  	 Execution of Supplemental Indentures
 	  	 55
 
	 SECTION 9.4
 	  	 Effect of Supplemental Indenture
 	  	 55
 

 
 

 ii 

  
 
	 SECTION 9.5
 	  	 Conformity With Trust Indenture Act
 	  	 56
 
	 SECTION 9.6
 	  	 Reference in Notes to Supplemental Indentures
 	  	 56
 
	  	  	  	  	  
	 ARTICLE X REDEMPTION OF NOTES
 	  	 56
 
	  	  	  
	 SECTION 10.1
 	  	 Redemption.
 	  	 56
 
	 SECTION 10.2
 	  	 Form of Redemption Notice
 	  	 56
 
	 SECTION 10.3
 	  	 Notes Payable on Redemption Date
 	  	 57
 
	  	  	  	  	  
	 ARTICLE XI MISCELLANEOUS
 	  	 57
 
	  	  	  
	 SECTION 11.1
 	  	 Compliance Certificates and Opinions, etc
 	  	 57
 
	 SECTION 11.2
 	  	 Form of Documents Delivered to Trustee
 	  	 59
 
	 SECTION 11.3
 	  	 Acts of Noteholders.
 	  	 59
 
	 SECTION 11.4
 	  	 Notices, etc., to Trustee, Issuer and Rating Agencies
 	  	 60
 
	 SECTION 11.5
 	  	 Notices to Noteholders; Waiver
 	  	 61
 
	 SECTION 11.6
 	  	 [Reserved]
 	  	 62
 
	 SECTION 11.7
 	  	 Conflict with Trust Indenture Act
 	  	 62
 
	 SECTION 11.8
 	  	 Effect of Headings and Table of Contents
 	  	 62
 
	 SECTION 11.9
 	  	 Successors and Assigns
 	  	 62
 
	 SECTION 11.10
 	  	 Separability
 	  	 62
 
	 SECTION 11.11
 	  	 Benefits of Indenture
 	  	 62
 
	 SECTION 11.12
 	  	 Legal Holidays
 	  	 63
 
	 SECTION 11.13
 	  	 GOVERNING LAW
 	  	 63
 
	 SECTION 11.14
 	  	 Counterparts
 	  	 63
 
	 SECTION 11.15
 	  	 Recording of Indenture
 	  	 63
 
	 SECTION 11.16
 	  	 Trust Obligation
 	  	 63
 
	 SECTION 11.17
 	  	 No Petition
 	  	 64
 
	 SECTION 11.18
 	  	 Inspection
 	  	 64
 
	  	  	  	  	  
	 EXHIBITS
 	  	  
	  	  	  
	 EXHIBIT A-1
 	  	 Form of Class A-1 Note
 	  	  
	 EXHIBIT A-2
 	  	 Form of Class A-2 Note
 	  	  
	 EXHIBIT A-3
 	  	 Form of Class A-3 Note
 	  	  
	 EXHIBIT A-4
 	  	 Form of Class A-4 Note
 	  	  

 
  
 

 iii 

  
 INDENTURE dated as of September 5, 2002, between AMERICREDIT AUTOMOBILE
RECEIVABLES TRUST 2002-D, a Delaware statutory trust (the “Issuer”), and JPMORGAN CHASE BANK, a New York banking corporation, as trustee (the “Trustee”) and Trust Collateral Agent (as defined below). 

 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the
Issuer’s Class A-1 1.755% Asset Backed Notes (the “Class A-1 Notes”), the Class A-2 2.04% Asset Backed Notes (the “Class A-2 Notes”), the Class A-3 2.72% Asset Backed Notes (the “Class A-3
Notes”) and the Class A-4 3.40% Asset Backed Notes (the “Class A-4 Notes” and together with the Class A-1 Notes, the Class A-2 Notes, and the Class A-3 Notes, the “Notes”). 
  
 As security for the payment and performance by the Issuer of its obligations under this Indenture and the Notes, the Issuer has agreed to
assign the Indenture Collateral (as defined below) as collateral to the Trust Collateral Agent for the benefit of the Trustee on behalf of the Noteholders. 
  
 Financial Security Assurance Inc. (the “Security Insurer”) has issued and delivered a financial guaranty insurance policy, dated the Closing Date (with endorsements, the “Note
Policy”), pursuant to which the Security Insurer guarantees Scheduled Payments, as defined in the Insurance Agreement. 
  
 As an inducement to the Security Insurer to issue and deliver the Note Policy, the Issuer and the Security Insurer have executed and delivered the Insurance and Indemnity Agreement, dated as of September 5, 2002 (as amended from time
to time, the “Insurance Agreement”), among the Security Insurer, the Issuer, AmeriCredit Financial Services, Inc., AmeriCredit Corp. and AFS Funding Trust. 
  
 As an additional inducement to the Security Insurer to issue the Note Policy, and as security for the performance by the Issuer of the Insurer Issuer Secured Obligations
and as security for the performance by the Issuer of the Trustee Issuer Secured Obligations, the Issuer has agreed to assign the Collateral (as defined below) as collateral to the Trust Collateral Agent for the benefit of the Issuer Secured Parties,
as their respective interests may appear. 
 

 1 

  
 GRANTING CLAUSE 
  
 The Issuer hereby Grants to the Trust Collateral Agent at the Closing Date, for the benefit of the Issuer Secured Parties, all of the Issuer’s right, title and
interest in and to (a) the Receivables; (b) an assignment of the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of the Issuer in the Financed Vehicles; (c) any proceeds with respect
to the Receivables repurchased by a Dealer, pursuant to a Dealer Agreement, as a result of a breach of representation or warranty in the related Dealer Agreement or repurchased by a Third-Party Lender, pursuant to an Auto Loan Purchase and Sale
Agreement, as a result of a breach of representation or warranty in the related Auto Loan Purchase and Sale Agreement; (d) all rights under any Service Contracts on the related Financed Vehicles; (e) any proceeds with respect to the Receivables from
claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors; (f) the Trust Accounts and all funds on deposit from time to time in the Trust Accounts, and in all investments and proceeds thereof
and all rights of the Issuer therein (including all income thereon); (g) the Issuer’s rights and benefits, but none of its obligations or burdens, under the Purchase Agreement, including the delivery requirements, representations and warranties
and the cure and repurchase obligations of AmeriCredit under the Purchase Agreement; (h) all items contained in the Receivable Files and any and all other documents that AmeriCredit keeps on file in accordance with its customary procedures relating
to the Receivables, the Obligors or the Financed Vehicles, (i) the Issuer’s rights and benefits, but none of its obligations or burdens, under the Sale and Servicing Agreement (including all rights of the Seller under the Purchase Agreement
assigned to the Issuer pursuant to the Sale and Servicing Agreement); and (j) all present and future claims, demands, causes and choses of action in respect of any or all of the foregoing and all payments on or under and all proceeds of every kind
and nature whatsoever in respect of any or all of the foregoing, including all proceeds of the conversion, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances,
chattel paper, checks, deposit accounts, insurance proceeds, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or
are included in the proceeds of any of the foregoing (collectively, the “Collateral”). 
  
 The
foregoing Grant is made in trust to the Trust Collateral Agent, for the benefit of the Trustee on behalf of the Noteholders and for the benefit of the Security Insurer. The Trust Collateral Agent hereby acknowledges such Grant, accepts the trusts
under this Indenture in accordance with the provisions of this Indenture and agrees to perform its duties required in this Indenture to the end that the interests of such parties, recognizing the priorities of their respective interests may be
adequately and effectively protected. 
  
 ARTICLE I 
  
 Definitions and Incorporation by Reference 
  
 SECTION 1.1  Definitions.    Except as otherwise specified herein, the following terms have the respective meanings set forth below for all purposes of this Indenture. 
  
 “Act” has the meaning specified in Section 11.3(a). 
 

 2 

  
 “Affiliate” means, with respect to any specified Person, any
other Person controlling or controlled by or under common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. A Person
shall not be deemed to be an Affiliate of any person solely because such other Person has the contractual right or obligation to manage such Person unless such other Person controls such Person through equity ownership or otherwise. 

 
 “Authorized Officer” means, with respect to the Issuer and the Servicer, any officer or agent acting pursuant
to a power of attorney of the Owner Trustee or the Servicer, as applicable, who is authorized to act for the Owner Trustee or the Servicer, as applicable, in matters relating to the Issuer and who is identified on the list of Authorized Officers
delivered by each of the Owner Trustee and the Servicer to the Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter). 
  
 “Basic Documents” means this Indenture, the Certificate of Trust, the Trust Agreement, as amended, the Sale and Servicing Agreement, the Spread Account
Agreement, the Spread Account Agreement Supplement, the Insurance Agreement, the Assignment and other documents and certificates delivered in connection therewith. 
  
 “Benefit Plan Entity” has the meaning specified in Section 2.4. 
  
 “Book Entry Notes” means a beneficial interest in the Notes, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 2.10.

  
 “Business Day” means any day other than a Saturday, a Sunday, legal holiday or other day on
which commercial banking institutions located in Wilmington, Delaware, Fort Worth, Texas, or New York, New York or any other location of any successor Servicer, successor Owner Trustee or successor Trust Collateral Agent are authorized or obligated
by law, executive order or governmental decree to be closed. 
  
 “Certificate” means a trust
certificate evidencing the beneficial interest of a Certificateholder in the Trust. 
  
 “Certificateholder” means the Person in whose name a Certificate is registered on the Certificate Register. 
  
 “Certificate of Trust” means the certificate of trust of the Issuer substantially in the form of Exhibit B to the Trust Agreement. 
  

“Class A-1 Interest Rate” means 1.755% per annum (computed on the basis of a 360-day year and the actual number of days in the related Interest
Period). 
  
 “Class A-1 Notes” means the Class A-1 1.755% Asset Backed Notes, substantially in the
form of Exhibit A-1. 
 

 3 

  
 “Class A-2 Interest Rate” means 2.04% per annum (computed on the
basis of a 360-day year consisting of twelve 30-day months). 
  
 “Class A-2 Notes” means the Class
A-2 2.04% Asset Backed Notes, substantially in the form of Exhibit A-2. 
  
 “Class A-3 Interest
Rate” means 2.72% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months). 
  
 “Class A-3 Notes” means the Class A-3 2.72% Asset Backed Notes, substantially in the form of Exhibit A-3. 
  
 “Class A-4 Interest Rate” means 3.40% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months). 
  
 “Class A-4 Notes” means the Class A-4 3.40% Asset Backed Notes, substantially in the form of Exhibit A-4. 
  
 “Clearing Agency” means an organization registered as a “clearing agency” pursuant to Section 17A of the
Exchange Act. 
  
 “Clearing Agency Participant” means a broker, dealer, bank, other financial
institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 
  
 “Closing Date” means September 12, 2002. 
  
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and Treasury Regulations promulgated thereunder. 
  
 “Collateral” has the meaning specified in the Granting Clause of this Indenture. 
  
 “Controlling Party” means the Security Insurer, so long as no Insurer Default shall have occurred and be continuing, and the Trustee, for so long as an
Insurer Default shall have occurred and be continuing. 
  
 “Corporate Trust Office” means the
principal office of the Trustee at which at any particular time its corporate trust business shall be administered which office at date of the execution of this Agreement is located at 450 West 33rd Street, 14th Floor, New York, New York 10001
(facsimile number (212) 946-8552) Attention: ITS-Structured Finance, AmeriCredit 2002-D, or at such other address as the Trustee may designate from time to time by notice to the Noteholders, the Security Insurer, the Servicer and the Issuer, or the
principal corporate trust office of any successor Trustee (the address of which the successor Trustee will notify the Noteholders and the Issuer). 
  
 “Default” means any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default. 
 

 4 

  
 “Definitive Notes” has the meaning specified in Section 2.10.

  
 “Distribution Date” has the meaning specified in the Sale and Servicing Agreement. 

 
 “ERISA” has the meaning specified in Section 2.4. 
  
 “Event of Default” has the meaning specified in Section 5.1. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 “Executive Officer” means, with respect to any corporation, the Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, President, any Executive Vice President, any Vice President, the
Secretary or the Treasurer of such corporation; and with respect to any partnership, any general partner thereof. 
  
 “Grant” means mortgage, pledge, bargain, warrant, alienate, remise, release, convey, assign, transfer, create, grant a lien upon and a security interest in and right of set-off against, deposit, set over and confirm
pursuant to this Indenture. A Grant of the Collateral or of any other agreement or instrument shall include all rights, powers and options (but none of the obligations) of the Granting party thereunder, including the immediate and continuing right
to claim for, collect, receive and give receipt for principal and interest payments in respect of the Collateral and all other moneys payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to
exercise all rights and options, to bring proceedings in the name of the Granting party or otherwise and generally to do and receive anything that the Granting party is or may be entitled to do or receive thereunder or with respect thereto.

  
 “Holder” or “Noteholder” means the Person in whose name a Note is registered on
the Note Register. 
  
 “Indebtedness” means, with respect to any Person at any time, (a)
indebtedness or liability of such Person for borrowed money whether or not evidenced by bonds, debentures, notes or other instruments, or for the deferred purchase price of property or services (including trade obligations); (b) obligations of such
Person as lessee under leases which should have been or should be, in accordance with generally accepted accounting principles, recorded as capital leases; (c) current liabilities of such Person in respect of unfunded vested benefits under plans
covered by Title IV of ERISA; (d) obligations issued for or liabilities incurred on the account of such Person; (e) obligations or liabilities of such Person arising under acceptance facilities; (f) obligations of such Person under any guarantees,
endorsements (other than for collection or deposit in the ordinary course of business) and other contingent obligations to purchase, to provide funds for payment, to supply funds to invest in any Person or otherwise to assure a creditor against
loss; (g) obligations of such Person secured by any lien on property or assets of such Person, whether or not the obligations have been assumed by such Person; or (h) obligations of such Person under any interest rate or currency exchange agreement.

  
 “Indenture” means this Indenture as amended and supplemented from time to time. 

 5 

  
 “Independent” means, when used with respect to any specified
Person, that the person (a) is in fact independent of the Issuer, any other obligor upon the Notes, the Seller and any Affiliate of any of the foregoing persons, (b) does not have any direct financial interest or any material indirect financial
interest in the Issuer, any such other obligor, the Seller or any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuer, any such other obligor, the Seller or any Affiliate of any of the foregoing Persons as an officer,
employee, promoter, underwriter, trustee, partner, director or Person performing similar functions. 
  
 “Independent Certificate” means a certificate or opinion to be delivered to the Trust Collateral Agent under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.1,
prepared by an Independent appraiser or other expert appointed by an Issuer Order and approved by the Trust Collateral Agent in the exercise of reasonable care, and such opinion or certificate shall state that the signer has read the definition of
“Independent” in this Indenture and that the signer is Independent within the meaning thereof. 
  
 “Insurance Agreement Indenture Cross Default” has the meaning specified therefor in the Insurance Agreement. 
  
 “Insured Distribution Date” has the meaning specified in the Sale and Servicing Agreement. 
  
 “Insurer Issuer Secured Obligations” means all amounts and obligations which the Issuer may at any time owe to or on behalf of the Security Insurer under this Indenture, the Insurance
Agreement or any other Basic Document. 
  
 “Interest Rate” means, with respect to the (i) Class A-1
Notes, the Class A-1 Interest Rate, (ii) Class A-2 Notes, the Class A-2 Interest Rate, (iii) Class A-3 Notes, the Class A-3 Interest Rate and (iv) Class A-4 Notes, the Class A-4 Interest Rate. 
  

“Issuer” means the party named as such in this Indenture until a successor replaces it and, thereafter, means the successor and, for purposes of any
provision contained herein and required by the TIA, each other obligor on the Notes. 
  
 “Issuer
Order” and “Issuer Request” means a written order or request signed in the name of the Issuer by any one of its Authorized Officers and delivered to the Trustee. 
  
 “Issuer Secured Obligations” means the Insurer Issuer Secured Obligations and the Trustee Issuer Secured Obligations. 
  
 “Issuer Secured Parties” means each of the Trustee in respect of the Trustee Issuer Secured Obligations and the Security
Insurer in respect of the Insurer Issuer Secured Obligations. 
  
 “Note” means a Class A-1 Note, a
Class A-2 Note, a Class A-3 Note or a Class A-4 Note. 
  
 “Note Owner” means, with respect to a
Book-Entry Note, the person who is the owner of such Book-Entry Note, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing 
 

 6 

 
Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency). 
  
 “Note Paying Agent” means the Trustee or any other Person that meets the eligibility standards for the Trustee specified in Section 6.11 and is authorized
by the Issuer to make the payments to and distributions from the Collection Account and the Note Distribution Account, including payment of principal of or interest on the Notes on behalf of the Issuer. 
  
 “Note Policy” means the insurance policy issued by the Security Insurer with respect to the Notes, including any
endorsements thereto. 
  
 “Note Policy Claim Amount” has the meaning specified in the Sale and
Servicing Agreement. 
  
 “Note Register” and “Note Registrar” have the respective
meanings specified in Section 2.4. 
  
 “Notice of Claim” has the meaning specified in the Sale and
Servicing Agreement. 
  
 “Officer’s Certificate” means a certificate signed by any Authorized
Officer of the Owner Trustee, under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.1 and TIA § 314, and delivered to the Trustee. Unless otherwise specified, any reference in this
Indenture to an Officer’s Certificate shall be to an Officer’s Certificate of any Authorized Officer of the Issuer. 
  
 “Opinion of Counsel” means one or more written opinions of counsel who may, except as otherwise expressly provided in this Indenture, be employees of or counsel to the Issuer and who shall be satisfactory to the
Trustee and, if addressed to the Security Insurer, satisfactory to the Security Insurer, and which shall comply with any applicable requirements of Section 11.1, and shall be in form and substance satisfactory to the Trustee, and if addressed to the
Security Insurer, satisfactory to the Security Insurer. 
  
 “Outstanding” means, as of the date of
determination, all Notes theretofore authenticated and delivered under this Indenture except: 
  
 (i)    Notes theretofore canceled by the Note Registrar or delivered to the Note Registrar for cancellation; 
  
 (ii)    Notes or portions thereof the payment for which money in the necessary amount has been theretofore deposited with the Trustee or any Note Paying Agent in trust for the
Noteholders (provided, however, that if such Notes are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor, satisfactory to the Trustee); and 
  
 (iii)    Notes in exchange for or in lieu of other Notes which have been authenticated and delivered
pursuant to this Indenture unless proof satisfactory to the Trustee is presented that any such Notes are held by a bona fide purchaser; 
 

 7 

 
provided, however, that Notes which have been paid with proceeds of the Note Policy shall continue to remain Outstanding for purposes of this Indenture until the Security Insurer has been
paid as subrogee hereunder or reimbursed pursuant to the Insurance Agreement as evidenced by a written notice from the Security Insurer delivered to the Trustee, and the Security Insurer shall be deemed to be the Holder thereof to the extent of any
payments thereon made by the Security Insurer; provided, further, that in determining whether the Holders of the requisite Outstanding Amount of the Notes have given any request, demand, authorization, direction, notice, consent
or waiver hereunder or under any Basic Document, Notes owned by the Issuer, any other obligor upon the Notes, the Seller or any Affiliate of any of the foregoing Persons shall be disregarded and deemed not to be Outstanding, except that, in
determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a Responsible Officer of the Trustee either actually knows to be so owned or has
received written notice thereof shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect
to such Notes and that the pledgee is not the Issuer, any other obligor upon the Notes, the Seller or any Affiliate of any of the foregoing Persons. 
  
 “Outstanding Amount” means the aggregate principal amount of all Notes, or class of Notes, as applicable, Outstanding at the date of determination. 
  
 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the
same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 2.5 in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as
the mutilated, lost, destroyed or stolen Note. 
  
 “Preference Claim” has the meaning specified in
the Sale and Servicing Agreement. 
  
 “Proceeding” means any suit in equity, action at law or other
judicial or administrative proceeding. 
  
 “Rating Agency” means each of Moody’s, Standard
& Poor’s and Fitch, so long as such Persons maintain a rating on the Notes; and if any of Moody’s, Standard & Poor’s or Fitch no longer maintains a rating on the Notes, such other nationally recognized statistical rating
organization selected by the Seller and (so long as an Insurer Default shall not have occurred and be continuing) acceptable to the Security Insurer. 
  
 “Rating Agency Condition” means, with respect to any action, that each Rating Agency shall have been given 10 days (or such shorter period as shall be acceptable to each Rating Agency)
prior notice thereof and that each of the Rating Agencies shall have notified the Seller, the Servicer, the Security Insurer, the Trustee, the Owner Trustee and the Issuer in writing that such action will not result in a reduction or withdrawal of
the then current rating of the Notes. 
 

 8 

  
 “Record Date” means, with respect to a Distribution Date or
Redemption Date, the close of business on the Business Day immediately preceding such Distribution Date or Redemption Date. 
  
 “Redemption Date” means in the case of a redemption of the Notes pursuant to Section 10.1(a) the Distribution Date specified by the Servicer or the Issuer pursuant to Section 10.1(a). 
  
 “Redemption Price” means in the case of a redemption of the Notes pursuant to Section 10.1(a), an amount equal to the
unpaid principal amount of the then outstanding principal amount of each class of Notes being redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date. 
  
 “Responsible Officer” means, with respect to the Trustee or the Trust Collateral Agent, any officer within the Corporate Trust Office of the Trustee,
including any Vice President, Assistant Vice President, Assistant Treasurer, Assistant Secretary, or any other officer of the Trustee or the Trust Collateral Agent customarily performing functions similar to those performed by any of the above
designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 
  
 “Sale and Servicing Agreement” means the Sale and Servicing Agreement dated as of September 5, 2002, among the Issuer,
the Seller, the Servicer and the Trustee as Backup Servicer and Trust Collateral Agent, as the same may be amended or supplemented from time to time. 
  
 “Scheduled Payments” has the meaning specified in the Note Policy. 
  
 “State” means any one of the 50 states of the United States of America or the District of Columbia. 
  
 “Termination Date” means the latest of (i) the expiration of the Note Policy and the return of the Note Policy to the Security Insurer for cancellation, (ii) the date on which the
Security Insurer shall have received payment and performance of all Insurer Issuer Secured Obligations and (iii) the date on which the Trustee shall have received payment and performance of all Trustee Issuer Secured Obligations. 

 
 “Trust Collateral Agent” means, initially, JPMorgan Chase Bank, in its capacity as collateral agent on behalf
of the Issuer Secured Parties, including its successors-in-interest, until and unless a successor Person shall have become the Trust Collateral Agent pursuant to Section 6.17 hereof, and thereafter “Trust Collateral Agent” shall mean such
successor Person. 
  
 “Trust Estate” means all money, instruments, rights and other property that
are subject or intended to be subject to the lien and security interest of this Indenture for the benefit of the Noteholders (including all property and interests Granted to the Trust Collateral Agent), including all proceeds thereof. 

 9 

  
 “Trust Indenture Act” or “TIA” means the Trust
Indenture Act of 1939, as amended and as in force on the date hereof, unless otherwise specifically provided. 
  
 “Trustee” means JPMorgan Chase Bank, a New York banking association, not in its individual capacity but as trustee under this Indenture, or any successor trustee under this Indenture. 
  
 “Trustee Issuer Secured Obligations” means all amounts and obligations which the Issuer may at any time owe to or on
behalf of the Trustee for the benefit of the Noteholders under this Indenture, the Notes or any Basic Document. 
  
 “UCC” means, unless the context otherwise requires, the Uniform Commercial Code, as in effect in the relevant jurisdiction, as amended from time to time. 
  
 Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Sale and Servicing Agreement or the Trust Agreement.

  
 SECTION 1.2    Incorporation by Reference of Trust Indenture
Act.    Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings:

  
 “Commission” means the Securities and Exchange Commission. 
  
 “indenture securities” means the Notes. 
  
 “indenture security holder” means a Noteholder. 
  
 “indenture to be qualified” means this Indenture. 
  
 “indenture trustee” or “institutional trustee” means the Trustee. 
  
 “obligor” on the indenture securities means the Issuer. 
  
 All other TIA terms used
in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by Commission rule have the meaning assigned to them by such definitions. 
  
 SECTION 1.3    Rules of Construction.    Unless the context otherwise requires: 
  
 (i)    a term has the meaning assigned to it; 
  

(ii)    an accounting term not otherwise defined has the meaning assigned to it in accordance with generally accepted accounting
principles as in effect from time to time; 
  
 (iii)    “or” is not
exclusive; 
  
 (iv)    “including” means including without limitation;
and 
 

 10 

  
 (v)    words in the singular include the
plural and words in the plural include the singular. 
  
 ARTICLE II 
  
 The Notes 
  
 SECTION 2.1    Form.    The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes, in each case together with the Trustee’s certificate of
authentication, shall be in substantially the form set forth in Exhibits A-1, A-2, A-3 and A-4, respectively, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture and may have
such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may, consistently herewith, be determined by the officers executing such Notes, as evidenced by their execution of the Notes. Any portion of
the text of any Note may be set forth on the reverse thereof, with an appropriate reference thereto on the face of the Note. 
  
 The Definitive Notes shall be typewritten, printed, lithographed or engraved or produced by any combination of these methods (with or without steel engraved borders), all as determined by the officers executing such Notes, as
evidenced by their execution of such Notes. 
  
 Each Note shall be dated the date of its authentication. The terms of
the Notes set forth in Exhibits A-1, A-2, A-3 and A-4 are part of the terms of this Indenture. 
  
 SECTION
2.2    Execution, Authentication and Delivery.    The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may
be manual or facsimile. 
  
 Notes bearing the manual or facsimile signature of individuals who were at any time
Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such
Notes. 
  
 The Trustee shall, upon receipt of the Note Policy and Issuer Order, authenticate and deliver Class A-1
Notes for original issue in an aggregate principal amount of $111,000,000, Class A-2 Notes for original issue in the aggregate principal amount of $153,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $194,000,000 and
Class A-4 Notes for original issue in an aggregate principal amount of $142,000,000. The Class A-1 Notes, Class A-2 Notes, Class A-3 Notes and Class A-4 Notes outstanding at any time may not exceed such amounts except as provided in Section 2.5.

  
 The Notes shall be issuable as registered Notes in the minimum denomination of $1,000 and in integral multiples
thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). 
  
 No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the
Trustee by the manual signature of
 
 

 11 

 
one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

  
 SECTION 2.3    Temporary Notes.    Pending the preparation
of Definitive Notes, the Issuer may execute, and upon receipt of an Issuer Order the Trustee shall authenticate and deliver, temporary Notes which are printed, lithographed, typewritten, mimeographed or otherwise produced, of the tenor of the
Definitive Notes in lieu of which they are issued and with such variations not inconsistent with the terms of this Indenture as the officers executing such Notes may determine, as evidenced by their execution of such Notes. 
  
 If temporary Notes are issued, the Issuer will cause Definitive Notes to be prepared without unreasonable delay. After the preparation of
Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at the office or agency of the Issuer to be maintained as provided in Section 3.2, without charge to the Noteholder. Upon
surrender for cancellation of any one or more temporary Notes, the Issuer shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of Definitive Notes of authorized denominations. Until so exchanged,
the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as Definitive Notes. 
  
 SECTION 2.4    Registration; Registration of Transfer and Exchange.    The Issuer shall cause to be kept a register (the “Note Register”) in which, subject
to such reasonable regulations as it may prescribe, the Issuer shall provide for the registration of Notes and the registration of transfers of Notes. The Trustee shall be “Note Registrar” for the purpose of registering Notes and
transfers of Notes as herein provided. Upon any resignation of any Note Registrar, the Issuer shall promptly appoint a successor or, if it elects not to make such an appointment, assume the duties of Note Registrar. 
  
 If a Person other than the Trustee is appointed by the Issuer as Note Registrar, the Issuer will give the Trustee prompt written notice of
the appointment of such Note Registrar and of the location, and any change in the location, of the Note Register, and the Trustee shall have the right to inspect the Note Register at all reasonable times and to obtain copies thereof, and the Trustee
shall have the right to conclusively rely upon a certificate executed on behalf of the Note Registrar by an Executive Officer thereof as to the names and addresses of the Noteholders of the Notes and the principal amounts and number of such Notes.

  
 Subject to Sections 2.10 and 2.12 hereof, upon surrender for registration of transfer of any Note at the office
or agency of the Issuer to be maintained as provided in Section 3.2, if the requirements of Section 8-401(1) of the UCC are met the Issuer shall execute and upon its request the Trustee shall authenticate and the Noteholder shall obtain from the
Trustee, in the name of the designated transferee or transferees, one or more new Notes, in any authorized denominations, of the same class and a like aggregate principal amount. 
  
 At the option of the Noteholder, Notes may be exchanged for other Notes in any authorized denominations, of the same class and a like aggregate principal amount, upon
surrender of the Notes to be exchanged at such office or agency. Whenever any Notes are so
 
 

 12 

 
surrendered for exchange, subject to Sections 2.10 and 2.12 hereof, if the requirements of Section 8-401(1) of the UCC are met the Issuer shall execute and upon its request the Trustee shall
authenticate and the Noteholder shall obtain from the Trustee, the Notes which the Noteholder making the exchange is entitled to receive. 
  
 All Notes issued upon any registration of transfer or exchange of Notes shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered
upon such registration of transfer or exchange. 
  
 Every Note presented or surrendered for registration of transfer
or exchange shall be (i) duly endorsed by, or be accompanied by a written instrument of transfer in the form attached to Exhibits A-1, A-2, A-3 and A-4 duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing,
with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program
(“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other
documents as the Trustee may require. 
  
 Notwithstanding the foregoing, in the case of any sale or other transfer of
a Definitive Note, the transferor of such Definitive Note shall be required to represent and warrant in writing that the prospective transferee either (a) is not (i) an employee benefit plan (as defined in section 3(3) of the Employee Retirement
Income Security Act of 1974, as amended (“ERISA”)), which is subject to the provisions of Title I of ERISA, (ii) a plan (as defined in section 4975(e)(1) of the Code), which is subject to Section 4975 of the Code, or (iii) an entity
whose underlying assets are deemed to be assets of a plan described in (i) or (ii) above by reason of such plan’s investment in the entity (any such entity described in clauses (i) through (iii), a “Benefit Plan Entity”) or (b)
is a Benefit Plan Entity and the acquisition and holding of the Definitive Note by such prospective transferee is covered by a Department of Labor Prohibited Transaction Class Exemption. Each transferee of a Book Entry Note that is a Benefit Plan
Entity shall be deemed to represent that its acquisition and holding of the Book Entry Note is covered by a Department of Labor Prohibited Transaction Class Exemption. 
  
 No service charge shall be made to a Noteholder for any registration of transfer or exchange of Notes, but the Note Registrar may require payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Notes, other than exchanges pursuant to Section 2.3 or 9.6 not involving any transfer. 
  
 The preceding provisions of this section notwithstanding, the Issuer shall not be required to make and the Note Registrar shall not
register transfers or exchanges of Notes selected for redemption or of any Note for a period of 15 days preceding the due date for any payment with respect to the Note. 
  
 SECTION 2.5     Mutilated, Destroyed, Lost or Stolen Notes.    If (i) any mutilated Note is surrendered to the
Trustee, or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, and (ii) there is delivered to the Trustee and the
 
 

 13 

 
Security Insurer (unless an Insurer Default shall have occurred and be continuing) such security or indemnity as may be required by it to hold the Issuer, the Trustee and the Security Insurer
harmless, then, in the absence of notice to the Issuer, the Note Registrar or the Trustee that such Note has been acquired by a bona fide purchaser, and provided that the requirements of Section 8-405 of the UCC are met, the Issuer shall execute and
upon its request the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Note, a replacement Note; provided, however, that if any such destroyed, lost or stolen Note, but
not a mutilated Note, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Note, the Issuer may direct the Trustee, in writing, to pay such destroyed, lost or
stolen Note when so due or payable or upon the Redemption Date without surrender thereof. If, after the delivery of such replacement Note or payment of a destroyed, lost or stolen Note pursuant to the proviso to the preceding sentence, a bona fide
purchaser of the original Note in lieu of which such replacement Note was issued presents for payment such original Note, the Issuer, the Trustee and the Security Insurer shall be entitled to recover such replacement Note (or such payment) from the
Person to whom it was delivered or any Person taking such replacement Note from such Person to whom such replacement Note was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security
or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Trustee in connection therewith. 
  
 Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of such Note of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Trustee) connected therewith. 
  
 Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the
mutilated, destroyed, lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Notes duly issued hereunder. 

 
 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 
  
 SECTION
2.6    Persons Deemed Owner.    Prior to due presentment for registration of transfer of any Note, the Issuer, the Trustee and any agent of the Issuer or the Trustee, or the Security Insurer may
treat the Person in whose name any Note is registered (as of the Record Date) as the owner of such Note for the purpose of receiving payments of principal of and interest, if any on such Note and for all other purposes whatsoever, whether or not
such Note be overdue, and none of the Issuer, the Security Insurer, the Trustee nor any agent of the Issuer or the Trustee shall be affected by notice to the contrary. 
  
 SECTION 2.7    Payment of Principal and Interest; Defaulted Interest. 
 

 14 

  
 (a)    The Notes shall accrue interest as provided in the
forms of the Class A-1 Note, the Class A-2 Note, the Class A-3 Note and the Class A-4 Note set forth in Exhibits A-1, A-2, A-3 and A-4, respectively, and such interest shall be due and payable on each Distribution Date and each Insured Distribution
Date, as specified therein. Any installment of interest or principal, if any, payable on any Note which is punctually paid or duly provided for by the Issuer on the applicable Distribution Date or Insured Distribution Date shall be paid to the
Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date, by check mailed first-class, postage prepaid, to such Person’s address as it appears on the Note Register on such Record Date, except that,
unless Definitive Notes have been issued pursuant to Section 2.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payment will be made by wire
transfer in immediately available funds to the account designated by such nominee and except for the final installment of principal payable with respect to such Note on a Distribution Date or Insured Distribution Date or on the Final Scheduled
Distribution Date (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.1(a)) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in
accordance with Section 3.3. 
  
 (b)    The principal of each Note shall be payable in
installments on each Distribution Date or Insured Distribution Date, as applicable, as provided in the forms of the Class A-1 Note, the Class A-2 Note, the Class A-3 Note and the Class A-4 Note set forth in Exhibits A-1, A-2, A-3 and A-4,
respectively. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable, if not previously paid, on the date on which an Event of Default shall have occurred and be continuing, if the Trustee or the
Noteholders representing not less than a majority of the Outstanding Amount of the Notes have declared the Notes to be immediately due and payable in the manner provided in Section 5.2. All principal payments on each class of Notes shall be made pro
rata to the Noteholders of such class entitled thereto. Upon written notice from the Issuer, the Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Distribution Date on which
the Issuer expects that the final installment of principal of and interest on such Note will be paid. Such notice shall be mailed or transmitted by facsimile prior to such final Distribution Date and shall specify that such final installment will be
payable only upon presentation and surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. Notices in connection with redemptions of Notes shall be mailed to Noteholders as
provided in Section 10.2. 
  
 (c)    If the Issuer defaults in a payment of interest on the
Notes, and such default is waived by the Controlling Party, the Issuer shall pay defaulted interest (plus interest on such defaulted interest to the extent lawful) at the applicable Interest Rate in any lawful manner. The Issuer may pay such
defaulted interest to the Persons who are Noteholders on the immediately following Insured Distribution Date, and, if such amount is not paid on such following Insured Distribution Date, then on a subsequent special record date, which date shall be
at least five Business Days prior to the payment date. The Issuer shall fix or cause to be fixed any such special record date and payment date, and, at least 15 days before any such special record date, the Issuer shall mail to each Noteholder and
the Trustee a notice that states the special record date, the payment date and the amount of defaulted interest to be paid. 
 

 15 

 (d) Promptly following the date on which all principal of and interest on the Notes has been paid in full and the Notes
have been surrendered to the Trustee, the Trustee shall, if the Security Insurer has paid any amount in respect of the Notes under the Note Policy or otherwise which has not been reimbursed to it, deliver such surrendered Notes to the Security
Insurer. 
  
 SECTION 2.8    Cancellation.    Subject to Section
2.7(d), all Notes surrendered for payment, registration of transfer, exchange or redemption shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly canceled by the Trustee. Subject to Section
2.7(d), the Issuer may at any time deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder which the Issuer may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly canceled
by the Trustee. No Notes shall be authenticated in lieu of or in exchange for any Notes canceled as provided in this Section, except as expressly permitted by this Indenture. Subject to Section 2.7(d), all canceled Notes may be held or disposed of
by the Trustee in accordance with its standard retention or disposal policy as in effect at the time unless the Issuer shall timely direct by an Issuer Order that they be destroyed or returned to it; provided that such Issuer Order is timely and the
Notes have not been previously disposed of by the Trustee. 
  
 SECTION 2.9    Release
of Collateral.    The Trust Collateral Agent shall, on or after the Termination Date, release any remaining portion of the Trust Estate from the lien created by this Indenture and deposit in the Collection Account any funds
then on deposit in any other Trust Account. The Trust Collateral Agent shall release property from the lien created by this Indenture pursuant to this Section 2.9 only upon receipt of an Issuer Request accompanied by an Officer’s Certificate,
an Opinion of Counsel and (if required by the TIA) Independent Certificates in accordance with TIA §§ 314(c) and 314(d)(1) meeting the applicable requirements of Section 11.1. 
  
 SECTION 2.10    Book-Entry Notes.    The Notes, upon original issuance, will be issued in the form of typewritten
Notes representing the Book-Entry Notes, to be delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuer. Such Notes shall initially be registered on the Note Register in the name of Cede & Co., the
nominee of the initial Clearing Agency, and no Note Owner will receive a Definitive Note representing such Note Owner’s interest in such Note, except as provided in Section 2.12. Unless and until definitive, fully registered Notes (the
“Definitive Notes”) have been issued to Note Owners pursuant to Section 2.12: 
  
 (i)    the provisions of this Section shall be in full force and effect; 
  
 (ii)    the Note Registrar and the Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and interest on the Notes and the giving of
instructions or directions hereunder) as the sole Holder of the Notes, and shall have no obligation to the Note Owners; 
  
 (iii)    to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the provisions of this Section shall control; 
 

 16 

  
 (iv)    the rights of Note Owners shall be
exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Note Owners and the Clearing Agency and/or the Clearing Agency Participants. Unless and until Definitive Notes are issued
pursuant to Section 2.12, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and interest on the Notes to such Clearing Agency Participants;

  
 (v)    whenever this Indenture requires or permits actions to be taken based
upon instructions or directions of Noteholders evidencing a specified percentage of the Outstanding Amount of the Notes, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such
effect from Note Owners and/or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Notes and has delivered such instructions to the Trustee; and 
  
 (vi)    Note Owners may receive copies of any reports sent to Noteholders pursuant to this Indenture,
upon written request, together with a certification that they are Note Owners and payment of reproduction and postage expenses associated with the distribution of such reports, from the Trustee at the Corporate Trust Office. 
  
 SECTION 2.11    Notices to Clearing Agency.    Whenever a notice or other
communication to the Noteholders is required under this Indenture, unless and until Definitive Notes shall have been issued to Note Owners pursuant to Section 2.12, the Trustee shall give all such notices and communications specified herein to be
given to the Noteholders to the Clearing Agency, and shall have no obligation to the Note Owners. 
  
 SECTION
2.12    Definitive Notes.    If (i) the Servicer advises the Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the
Notes, and the Servicer is unable to locate a qualified successor, (ii) the Servicer at its option advises the Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event
of Default, Note Owners representing beneficial interests aggregating at least a majority of the Outstanding Amount of the Notes advise the Trustee through the Clearing Agency in writing that the continuation of a book entry system through the
Clearing Agency is no longer in the best interests of the Note Owners, then the Clearing Agency shall notify all Note Owners and the Trustee of the occurrence of any such event and of the availability of Definitive Notes to Note Owners requesting
the same. Upon surrender to the Trustee of the typewritten Note or Notes representing the Book-Entry Notes by the Clearing Agency, accompanied by registration instructions, the Issuer shall execute and the Trustee shall authenticate the Definitive
Notes in accordance with the instructions of the Clearing Agency. None of the Issuer, the Note Registrar or the Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in
relying on, such instructions. Upon the issuance of Definitive Notes, the Trustee shall recognize the Holders of the Definitive Notes as Noteholders. 
 

 17 

  
 ARTICLE III 
  
 Covenants 
  
 SECTION
3.1    Payment of Principal and Interest.    The Issuer will duly and punctually pay the principal of and interest on the Notes in accordance with the terms of the Notes and this Indenture. Without
limiting the foregoing, the Issuer will cause to be distributed all amounts on deposit in the Note Distribution Account on a Distribution Date deposited therein pursuant to the Sale and Servicing Agreement (i) for the benefit of the Class A-l Notes,
to Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to Class A-2 Noteholders, (iii) for the benefit of the Class A-3 Notes, to Class A-3 Noteholders and (iv) for the benefit of the Class A-4 Notes, to the Class A-4 Noteholders.
Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest and/or principal shall be considered as having been paid by the Issuer to such Noteholder for all purposes of this Indenture. 

 
 SECTION 3.2    Maintenance of Office or Agency.    The Issuer will
maintain in New York, New York, an office or agency where Notes may be surrendered for registration of transfer or exchange, and where notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be served. The Issuer
hereby initially appoints the Trustee to serve as its agent for the foregoing purposes. The Issuer will give prompt written notice to the Trustee of the location, and of any change in the location, of any such office or agency. If at any time the
Issuer shall fail to maintain any such office or agency or shall fail to furnish the Trustee with the address thereof, such surrenders, notices and demands may be made or served at the Corporate Trust Office, and the Issuer hereby appoints the
Trustee as its agent to receive all such surrenders, notices and demands. 
  
 SECTION
3.3    Money for Payments to be Held in Trust.    On or before each Distribution Date, Insured Distribution Date and Redemption Date, the Issuer shall deposit or cause to be deposited in the Note
Distribution Account from the Collection Account an aggregate sum sufficient to pay the amounts then becoming due under the Notes, such sum to be held in trust for the benefit of the Persons entitled thereto and (unless the Note Paying Agent is the
Trustee) shall promptly notify the Trustee of its action or failure so to act. 
  
 The Issuer will cause each Note
Paying Agent other than the Trustee to execute and deliver to the Trustee and the Security Insurer an instrument in which such Note Paying Agent shall agree with the Trustee (and if the Trustee acts as Note Paying Agent, it hereby so agrees),
subject to the provisions of this Section, that such Note Paying Agent will: 
  
 (i)    hold all sums held by it for the payment of amounts due with respect to the Notes in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed
of as herein provided and pay such sums to such Persons as herein provided; 
  
 (ii)    give the Trustee notice of any default by the Issuer (or any other obligor upon the Notes) of which it has actual knowledge in the making of any payment required to be made with respect to the Notes;

 

 18 

  
 (iii)    at any time during the continuance
of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; 
  
 (iv)    immediately resign as a Note Paying Agent and forthwith pay to the Trustee all sums held by it in trust for the payment of Notes if at any time it ceases to meet the
standards required to be met by a Note Paying Agent at the time of its appointment; and 
  
 (v)    comply with all requirements of the Code with respect to the withholding from any payments made by it on any Notes of any applicable withholding taxes imposed thereon and with respect to any applicable
reporting requirements in connection therewith. 
  
 The Issuer may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, by Issuer Order direct any Note Paying Agent to pay to the Trustee all sums held in trust by such Note Paying Agent, such sums to be held by the Trustee upon the same trusts as
those upon which the sums were held by such Note Paying Agent; and upon such a payment by any Note Paying Agent to the Trustee, such Note Paying Agent shall be released from all further liability with respect to such money. 
  
 Subject to applicable laws with respect to the escheat of funds, any money held by the Trustee or any Note Paying Agent in trust for the
payment of any amount due with respect to any Note and remaining unclaimed for two years after such amount has become due and payable shall be discharged from such trust and be paid to the Issuer on Issuer Request with the consent of the Security
Insurer (unless an Insurer Default shall have occurred and be continuing) and shall be deposited by the Trustee in the Collection Account; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Issuer for
payment thereof (but only to the extent of the amounts so paid to the Issuer), and all liability of the Trustee or such Note Paying Agent with respect to such trust money shall thereupon cease; provided, however, that if such money or any
portion thereof had been previously deposited by the Security Insurer or the Trust Collateral Agent with the Trustee for the payment of principal or interest on the Notes, to the extent any amounts are owing to the Security Insurer, such amounts
shall be paid promptly to the Security Insurer upon the Trustee’s receipt of a written request by the Security Insurer to such effect; and provided, further, that the Trustee or such Note Paying Agent, before being required to make any
such repayment, shall at the expense of the Issuer cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in New York, New York, notice that such money
remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Issuer. The Trustee shall also adopt and
employ, at the expense of the Issuer, any other reasonable means of notification of such repayment (including, but not limited to, mailing notice of such repayment to Holders whose Notes have been called but have not been surrendered for redemption
or whose right to or interest in moneys due and payable but not claimed is determinable from the records of the Trustee or of any Note Paying Agent, at the last address of record for each such Holder). 
 

 19 

 SECTION 3.4     Existence.    Except as otherwise permitted by the
provisions of Section 3.10, the Issuer will keep in full effect its existence, rights and franchises as a statutory trust under the laws of the State of Delaware (unless it becomes, or any successor Issuer hereunder is or becomes, organized under
the laws of any other state or of the United States of America, in which case the Issuer will keep in full effect its existence, rights and franchises under the laws of such other jurisdiction) and will obtain and preserve its qualification to do
business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Indenture, the Notes, the Collateral and each other instrument or agreement included in the Trust Estate.

  
 SECTION 3.5    Protection of Trust Estate.    The Issuer intends
the security interest Granted pursuant to this Indenture in favor of the Issuer Secured Parties to be prior to all other liens in respect of the Trust Estate, and the Issuer shall take all actions necessary to obtain and maintain, in favor of the
Trust Collateral Agent, for the benefit of the Issuer Secured Parties, a first lien on and a first priority, perfected security interest in the Trust Estate. The Issuer will from time to time prepare (or shall cause to be prepared), execute and
deliver all such supplements and amendments hereto and all such financing statements, continuation statements, instruments of further assurance and other instruments, and will take such other action necessary or advisable to: 

 
 (i)    Grant more effectively all or any portion of the Trust Estate; 

 
 (ii)    maintain or preserve the lien and security interest (and the priority thereof) in
favor of the Trust Collateral Agent for the benefit of the Issuer Secured Parties created by this Indenture or carry out more effectively the purposes hereof; 
  
 (iii)    perfect, publish notice of or protect the validity of any Grant made or to be made by this Indenture; 
  
 (iv)    enforce any of the Collateral; 
  
 (v)    preserve and defend title to the Trust Estate and the rights of the Trust Collateral Agent in such Trust Estate against the
claims of all persons and parties; and 
  
 (vi)    pay all taxes or assessments
levied or assessed upon the Trust Estate when due. 
  
 The Issuer hereby designates the Trust Collateral Agent its agent and
attorney-in-fact to execute any financing statement, continuation statement or other instrument required by the Trust Collateral Agent pursuant to this Section. 
  
 SECTION 3.6    Opinions as to Trust Estate. 
  
 (a)    On the Closing Date, the Issuer shall furnish to the Trustee, the Trust Collateral Agent and the Security Insurer an Opinion of Counsel either stating that, in the opinion of such counsel, such action has
been taken with respect to the recording and filing of this Indenture, any indentures supplemental hereto, and any other requisite documents, and with respect to the execution and filing of any financing statements and continuation statements, as

 

 20 

 are necessary to perfect and make effective the first priority lien and security interest in favor of the Trust Collateral Agent, for the
benefit of the Issuer Secured Parties, created by this Indenture and reciting the details of such action, or stating that, in the opinion of such counsel, no such action is necessary to make such lien and security interest effective. 

 
 (b)    Within 120 days after the beginning of each calendar year, beginning with the first calendar year
beginning more than six months after the Closing Date, the Issuer shall furnish to the Trustee, Trust Collateral Agent and the Security Insurer an Opinion of Counsel either stating that, in the opinion of such counsel, such action has been taken
with respect to the recording, filing, re-recording and refiling of this Indenture, any indentures supplemental hereto and any other requisite documents and with respect to the execution and filing of any financing statements and continuation
statements as are necessary to maintain the lien and security interest created by this Indenture and reciting the details of such action or stating that in the opinion of such counsel no such action is necessary to maintain such lien and security
interest. Such Opinion of Counsel shall also describe the recording, filing, re-recording and refiling of this Indenture, any indentures supplemental hereto and any other requisite documents and the execution and filing of any financing statements
and continuation statements that will, in the opinion of such counsel, be required to maintain the lien and security interest of this Indenture until January 31 in the following calendar year. 
  

SECTION 3.7    Performance of Obligations; Servicing of Receivables. 
  
 (a)    The Issuer will not take any action and will use its best efforts not to permit any action to be taken by others that would release any Person
from any of such Person’s material covenants or obligations under any instrument or agreement included in the Trust Estate or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity
or effectiveness of, any such instrument or agreement, except as ordered by any bankruptcy or other court or as expressly provided in this Indenture, the Basic Documents or such other instrument or agreement. 
  
 (b)    The Issuer may contract with other Persons acceptable to the Security Insurer (so long as no Insurer Default
shall have occurred and be continuing) to assist it in performing its duties under this Indenture, and any performance of such duties by a Person identified to the Trustee and the Security Insurer in an Officer’s Certificate of the Issuer shall
be deemed to be action taken by the Issuer. Initially, the Issuer has contracted with the Servicer to assist the Issuer in performing its duties under this Indenture. 
  
 (c)    The Issuer will punctually perform and observe all of its obligations and agreements contained in this Indenture, the Basic Documents and in the
instruments and agreements included in the Trust Estate, including, but not limited to, preparing (or causing to prepared) and filing (or causing to be filed) all UCC financing statements and continuation statements required to be filed by the terms
of this Indenture and the Sale and Servicing Agreement in accordance with and within the time periods provided for herein and therein. Except as otherwise expressly provided therein, the Issuer shall not waive, amend, modify, supplement or terminate
any Basic Document or any provision thereof without the consent of the Trustee, the Security Insurer and the Holders of at least a majority of the Outstanding Amount of the Notes. 
 

 21 

 (d)    If a responsible officer of the Owner Trustee shall have actual knowledge of the occurrence of
a Servicer Termination Event under the Sale and Servicing Agreement, the Issuer shall promptly notify the Trustee, the Security Insurer and the Rating Agencies thereof in accordance with Section 11.4, and shall specify in such notice the action, if
any, the Issuer is taking in respect of such default. If a Servicer Termination Event shall arise from the failure of the Servicer to perform any of its duties or obligations under the Sale and Servicing Agreement with respect to the Receivables,
the Issuer shall take all reasonable steps available to it to remedy such failure. 
  
 (e)    The
Issuer agrees that it will not waive timely performance or observance by the Servicer or the Seller of their respective duties under the Basic Documents (x) without the prior consent of the Security Insurer (unless an Insurer Default shall have
occurred and be controlling) or (y) if the effect thereof would adversely affect the Holders of the Notes. 
  
 SECTION 3.8    Negative Covenants.    So long as any Notes are Outstanding, the Issuer shall not: 
  
 (i)    except as expressly permitted by this Indenture or the Basic Documents, sell, transfer, exchange or otherwise dispose of any of
the properties or assets of the Issuer, including those included in the Trust Estate, unless directed to do so by the Controlling Party; 
  
 (ii)    claim any credit on, or make any deduction from the principal or interest payable in respect of, the Notes (other than amounts properly withheld from such payments under the
Code) or assert any claim against any present or former Noteholder by reason of the payment of the taxes levied or assessed upon any part of the Trust Estate; or 
  
 (iii)    (A) permit the validity or effectiveness of this Indenture to be impaired, or permit the lien in favor of the Trust Collateral
Agent created by this Indenture to be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants or obligations with respect to the Notes under this Indenture except as may be expressly
permitted hereby, (B) permit any lien, charge, excise, claim, security interest, mortgage or other encumbrance (other than the lien of this Indenture) to be created on or extend to or otherwise arise upon or burden the Trust Estate or any part
thereof or any interest therein or the proceeds thereof (other than tax liens, mechanics’ liens and other liens that arise by operation of law, in each case on a Financed Vehicle and arising solely as a result of an action or omission of the
related Obligor), (C) permit the lien of this Indenture not to constitute a valid first priority (other than with respect to any such tax, mechanics’ or other lien) security interest in the Trust Estate, or (D) amend, modify or fail to comply
with the provisions of the Basic Documents without the prior written consent of the Controlling Party. 
  
 SECTION
3.9    Annual Statement as to Compliance.    The Issuer will deliver to the Trustee and the Security Insurer, within 120 days after the end of each fiscal year of the Issuer (commencing with the fiscal
year ended June 30, 2003), and otherwise in compliance with 
 

 22 

 the requirements of TIA Section 314(a)(4) an Officer’s Certificate stating, as to the Authorized Officer signing such Officer’s
Certificate, that 
  
 (i)    a review of the activities of the Issuer during such
year and of performance under this Indenture has been made under such Authorized Officer’s supervision; and 
  
 (ii)    to the best of such Authorized Officer’s knowledge, based on such review, the Issuer has complied with all conditions and covenants under this Indenture and the other Basic Documents throughout such
year, or, if there has been a default in the compliance of any such condition or covenant, specifying each such default known to such Authorized Officer and the nature and status thereof. 
  
 SECTION 3.10    Issuer May Consolidate, Etc. Only on Certain Terms. 
  
 (a)    The Issuer shall not consolidate or merge with or into any other Person, unless 
  
 (i)    the Person (if other than the Issuer) formed by or surviving such consolidation or merger shall be a Person organized and
existing under the laws of the United States of America or any state and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee and the Security Insurer (so long as no
Insurer Default shall have occurred and be continuing), the due and punctual payment of the principal of and interest on all Notes and the performance or observance of every agreement and covenant of this Indenture on the part of the Issuer to be
performed or observed, all as provided herein; 
  
 (ii)    immediately after
giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; 
  
 (iii)    the Rating Agency Condition shall have been satisfied with respect to such transaction; 
  
 (iv)    the Issuer shall have received an Opinion of Counsel (and shall have delivered copies thereof to the Trustee and the Security Insurer (so long as no Insurer Default shall
have occurred and be continuing)) to the effect that such transaction will not have any material adverse tax consequence to the Trust, the Security Insurer, any Noteholder or the Certificateholder; 
  
 (v)    any action as is necessary to maintain the lien and security interest created by this Indenture
shall have been taken; 
  
 (vi)    the Issuer shall have delivered to the Trustee
an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation or merger and such supplemental indenture comply with this Article III and that all conditions precedent herein provided for relating to such transaction
have been complied with (including any filing required by the Exchange Act); and 
 

 23 

  
 (vii)    so long as no Insurer Default shall
have occurred and be continuing, the Issuer shall have given the Security Insurer written notice of such conveyance or transfer at least 20 Business Days prior to the consummation of such action and shall have received the prior written approval of
the Security Insurer of such conveyance or transfer and the Issuer or the Person (if other than the Issuer) formed by or surviving such conveyance or transfer has a net worth, immediately after such conveyance or transfer, that is (a) greater than
zero and (b) not less than the net worth of the Issuer immediately prior to giving effect to such conveyance or transfer. 
  
 (b)    The Issuer shall not convey or transfer all or substantially all of its properties or assets, including those included in the Trust Estate, to any Person, unless 
  
 (i)    the Person that acquires by conveyance or transfer the properties and assets of the Issuer the
conveyance or transfer of which is hereby restricted shall (A) be a United States citizen or a Person organized and existing under the laws of the United States of America or any state, (B) expressly assume, by an indenture supplemental hereto,
executed and delivered to the Trustee, in form satisfactory to the Trustee, and the Security Insurer (so long as no Insurer Default shall have occurred and be continuing), the due and punctual payment of the principal of and interest on all Notes
and the performance or observance of every agreement and covenant of this Indenture and each of the Basic Documents on the part of the Issuer to be performed or observed, all as provided herein, (C) expressly agree by means of such supplemental
indenture that all right, title and interest so conveyed or transferred shall be subject and subordinate to the rights of Holders of the Notes, (D) unless otherwise provided in such supplemental indenture, expressly agree to indemnify, defend and
hold harmless the Issuer against and from any loss, liability or expense arising under or related to this Indenture and the Notes and (E) expressly agree by means of such supplemental indenture that such Person (or if a group of persons, then one
specified Person) shall prepare (or cause to be prepared) and make all filings with the Commission (and any other appropriate Person) required by the Exchange Act in connection with the Notes; 
  

(ii)    immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;

  
 (iii)    the Rating Agency Condition shall have been satisfied with respect
to such transaction; 
  
 (iv)    the Issuer shall have received an Opinion of
Counsel (and shall have delivered copies thereof to the Trustee and the Security Insurer (so long as no Insurer Default shall have occurred and be continuing)) to the effect that such transaction will not have any material adverse tax consequence to
the Trust, the Security Insurer, any Noteholder or the Certificateholder; 
  
 (v)    any action as is necessary to maintain the lien and security interest created by this Indenture shall have been taken; 
 

 24 

 (vi)    the Issuer shall have delivered to the Trustee an Officer’s Certificate
and an Opinion of Counsel each stating that such conveyance or transfer and such supplemental indenture comply with this Article III and that all conditions precedent herein provided for relating to such transaction have been complied with
(including any filing required by the Exchange Act); and 
  
 (vii)    so long as
no Insurer Default shall have occurred and be continuing, the Issuer shall have given the Security Insurer written notice of such conveyance or transfer at least 20 Business Days prior to the consummation of such action and shall have received the
prior written approval of the Security Insurer of such consolidation or merger and the Issuer or the Person (if other than the Issuer) formed by or surviving such consolidation or merger has a net worth, immediately after such consolidation or
merger, that is (a) greater than zero and (b) not less than the net worth of the Issuer immediately prior to giving effect to such consolidation or merger. 
  
 SECTION 3.11    Successor or Transferee. 
  
 (a)    Upon any consolidation or merger of the Issuer in accordance with Section 3.10(a), the Person formed by or surviving such consolidation or merger (if other than the Issuer) shall succeed to, and be
substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such Person had been named as the Issuer herein. 
  
 (b)    Upon a conveyance or transfer of all the assets and properties of the Issuer pursuant to Section 3.10 (b), AmeriCredit Automobile Receivables
Trust 2002-D will be released from every covenant and agreement of this Indenture to be observed or performed on the part of the Issuer with respect to the Notes immediately upon the delivery of written notice to the Trustee stating that AmeriCredit
Automobile Receivables Trust 2002-D is to be so released. 
  
 SECTION 3.12    No Other
Business.    The Issuer shall not engage in any business other than financing, purchasing, owning, selling and managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and activities
incidental thereto 
  
 SECTION 3.13    No Borrowing.    The Issuer
shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for (i) the Notes, (ii) obligations owing from time to time to the Security Insurer under the Insurance Agreement and (iii) any
other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Receivables and the other assets specified in the Sale and Servicing Agreement, to
fund the Spread Account and to pay the Issuer’s organizational, transactional and start-up expenses. 
  
 SECTION
3.14    Servicer’s Obligations.    The Issuer shall cause the Servicer to comply with Sections 4.9, 4.10, 4.11 and 5.10 of the Sale and Servicing Agreement. 
  
 SECTION 3.15    Guarantees, Loans, Advances and Other Liabilities.    Except as
contemplated by the Sale and Servicing Agreement or this Indenture, the Issuer shall not make any loan or advance or credit to, or guarantee (directly or indirectly or by an instrument having the effect of assuring another’s payment or
performance on any obligation or capability of so 
 

 25 

  
 doing or otherwise), endorse or otherwise become contingently liable, directly or indirectly, in
connection with the obligations, stocks or dividends of, or own, purchase, repurchase or acquire (or agree contingently to do so) any stock, obligations, assets or securities of, or any other interest in, or make any capital contribution to, any
other Person. 
  
 SECTION 3.16  Capital Expenditures.    The Issuer shall
not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty). 
  
 SECTION 3.17  Compliance with Laws.    The Issuer shall comply with the requirements of all applicable laws, the non-compliance with which would, individually or in the aggregate,
materially and adversely affect the ability of the Issuer to perform its obligations under the Notes, this Indenture or any Basic Document. 
  
 SECTION 3.18  Restricted Payments.    The Issuer shall not, directly or indirectly, (i) pay any dividend or make any distribution (by reduction of capital or
otherwise), whether in cash, property, securities or a combination thereof, to the Owner Trustee or any owner of a beneficial interest in the Issuer or otherwise with respect to any ownership or equity interest or security in or of the Issuer or to
the Servicer, (ii) redeem, purchase, retire or otherwise acquire for value any such ownership or equity interest or security or (iii) set aside or otherwise segregate any amounts for any such purpose; provided, however, that the Issuer
may make, or cause to be made, distributions to the Servicer, the Owner Trustee, the Trustee and the Certificateholders as permitted by, and to the extent funds are available for such purpose under, the Sale and Servicing Agreement or Trust
Agreement. The Issuer will not, directly or indirectly, make payments to or distributions from the Collection Account except in accordance with this Indenture and the Basic Documents. 
  
 SECTION 3.19  Notice of Events of Default.    Upon a responsible officer of the Owner Trustee having actual knowledge thereof,
the Issuer agrees to give the Trustee, the Security Insurer and the Rating Agencies prompt written notice of each Event of Default hereunder and each default on the part of the Servicer or the Seller of its obligations under the Sale and Servicing
Agreement. 
  
 SECTION 3.20  Further Instruments and Acts.    Upon
request of the Trustee or the Security Insurer, the Issuer will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

 
 SECTION 3.21  Amendments of Sale and Servicing Agreement and Trust
Agreement.    The Issuer shall not agree to any amendment to Section 12.1 of the Sale and Servicing Agreement or Section 10.1 of the Trust Agreement to eliminate the requirements thereunder that the Trustee or the Holders of
the Notes consent to amendments thereto as provided therein. 
  
 SECTION 3.22  Income Tax
Characterization.    For purposes of federal income, state and local income and franchise and any other income taxes, the Issuer will treat the Notes as indebtedness and hereby instructs the Trustee, and each Noteholder (or
beneficial Note 
 

 26 

  
 Owner) shall be deemed, by virtue of acquisition of its interest in such Note, to have agreed, to treat
the Notes as indebtedness for all applicable tax reporting purposes. 
  
 ARTICLE IV 
  
 Satisfaction and Discharge 
  
 SECTION 4.1  Satisfaction and Discharge of Indenture.    This Indenture shall cease to be of further effect with respect to the Notes except as to (i) rights
of registration of transfer and exchange, (ii) substitution of mutilated, destroyed, lost or stolen Notes, (iii) rights of Noteholders to receive payments of principal thereof and interest thereon, (iv) Sections 3.3, 3.4, 3.5, 3.8, 3.10, 3.12, 3.13,
3.20, 3.21 and 3.22, (v) the rights, obligations and immunities of the Trustee hereunder (including the rights of the Trustee under Section 6.7 and the obligations of the Trustee under Section 4.2) and (vi) the rights of Noteholders as beneficiaries
hereof with respect to the property so deposited with the Trustee payable to all or any of them, and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture with respect to the Notes, when 
  
 (A)    either 

 
 (1)    all Notes theretofore authenticated and delivered (other than (i) Notes that have
been destroyed, lost or stolen and that have been replaced or paid as provided in Section 2.5 and (ii) Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the
Issuer or discharged from such trust, as provided in Section 3.3) have been delivered to the Trustee for cancellation and the Note Policy has expired and been returned to the Security Insurer for cancellation; or 
  
 (2)    all Notes not theretofore delivered to the Trustee for cancellation 
  
 (i)    have become due and payable, 
  
 (ii)    will become due and payable at their respective Final Scheduled Distribution Dates within one year, or 
  
 (iii)    are to be called for redemption within one year under arrangements satisfactory to the
Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, and the Issuer, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be irrevocably deposited with the Trust
Collateral Agent cash or direct obligations of or obligations guaranteed by the United States of America (which will mature prior to the date such amounts are payable), in trust for such purpose, in an amount sufficient to pay and discharge the
entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation when due to the Final Scheduled Distribution Date or Redemption Date (if Notes shall have been called for redemption pursuant to Section 10.1(a)), as the
case may be; 
 

 27 

  
 (B)    the Issuer has paid or caused to be
paid all Insurer Issuer Secured Obligations and all Trustee Issuer Secured Obligations; and 
  
 (C)    the Issuer has delivered to the Trustee, the Trust Collateral Agent and the Security Insurer an Officer’s Certificate, an Opinion of Counsel and if required by the TIA, the Trustee, the Trust
Collateral Agent or the Security Insurer (so long as an Insurer Default shall not have occurred and be continuing) an Independent Certificate from a firm of certified public accountants, each meeting the applicable requirements of Section 11.1(a)
and each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
  
 SECTION 4.2  Application of Trust Money.    All moneys deposited with the Trustee pursuant to Section 4.1 hereof shall be held in trust and applied by it, in
accordance with the provisions of the Notes, this Indenture and the other Basic Documents, to the payment, either directly or through any Note Paying Agent, as the Trustee may determine, to the Holders of the particular Notes for the payment or
redemption of which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for principal and interest; but such moneys need not be segregated from other funds except to the extent required herein or in the Sale
and Servicing Agreement or required by law. 
  
 SECTION 4.3  Repayment of Moneys Held by Note
Paying Agent.    In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Note Paying Agent other than the Trustee under the provisions of this Indenture with
respect to such Notes shall, upon demand of the Issuer, be paid to the Trustee to be held and applied according to Section 3.3 and thereupon such Note Paying Agent shall be released from all further liability with respect to such moneys.

  
 ARTICLE V 
  
 Remedies 
  
 SECTION 5.1  Events of
Default.    “Event of Default,” wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by
operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
  
 (i) default in the payment of any interest on any Note when the same becomes due and payable, and such default shall continue for a period of five days
(solely for purposes of this clause, (x) a payment due on a Distribution Date shall not be considered “due” until the immediately following Insured Distribution Date and (y) a payment on the Notes funded by the Security Insurer or
the Collateral Agent pursuant to the Spread Account Agreement shall be deemed to be a payment made by the Issuer); or 
  
  
 (ii) default in the payment of the principal of or any installment of the principal of any Note when the same becomes due and payable (solely for purposes
of 
 

 28 

 this clause, (x) a payment due on a Distribution Date shall not be considered “due” until the
immediately following Insured Distribution Date and (y) a payment on the Notes funded by the Security Insurer or the Collateral Agent pursuant to the Spread Account Agreement, shall be deemed to be a payment made by the Issuer); or 

 
 (iii)    so long as an Insurer Default shall not have occurred and be continuing, an
Insurance Agreement Indenture Cross Default shall have occurred; provided, however, that the occurrence of an Insurance Agreement Cross Default may not form the basis of an Event of Default unless the Security Insurer shall, upon prior
written notice to the Rating Agencies, have delivered to the Issuer and the Trustee and not rescinded a written notice specifying that such Insurance Agreement Indenture Cross Default constitutes an Event of Default under the Indenture; or

  
 (iv)    so long as an Insurer Default shall have occurred and be continuing,
default in the observance or performance of any covenant or agreement of the Issuer made in this Indenture (other than a covenant or agreement, a default in the observance or performance of which is elsewhere in this Section specifically dealt
with), or any representation or warranty of the Issuer made in this Indenture, in any Basic Document or in any certificate or any other writing delivered pursuant hereto or in connection herewith proving to have been incorrect in any material
respect as of the time when the same shall have been made, and such default shall continue or not be cured, or the circumstance or condition in respect of which such misrepresentation or warranty was incorrect shall not have been eliminated or
otherwise cured, for a period of 30 days (or for such longer period, not in excess of 90 days, as may be reasonably necessary to remedy such default; provided that such default is capable of remedy within 90 days or less and the Servicer on behalf
of the Owner Trustee delivers an Officer’s Certificate to the Trustee to the effect that the Issuer has commenced, or will promptly commence and diligently pursue, all reasonable efforts to remedy such default) after there shall have been
given, by registered or certified mail, to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at least 25% of the Outstanding Amount of the Notes, a written notice specifying such default or incorrect representation or
warranty and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 
  
 (v)    so long as an Insurer Default shall have occurred and be continuing, the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of
the Issuer or any substantial part of the Trust Estate in an involuntary case under any applicable federal or State bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator or similar official of the Issuer or for any substantial part of the Trust Estate, or ordering the winding-up or liquidation of the Issuer’s affairs, and such decree or order shall remain unstayed and in effect for a
period of 60 consecutive days; or 
  
 (vi)    so long as an Insurer Default shall
have occurred and be continuing, the commencement by the Issuer of a voluntary case under any applicable federal or State bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by the Issuer to the entry of an order
for relief in an involuntary case under any such law, or the consent by the Issuer to the appointment or taking possession by a receiver, 
 

 29 

  
 liquidator, assignee, custodian, trustee, sequestrator or similar official of the
Issuer or for any substantial part of the Trust Estate, or the making by the Issuer of any general assignment for the benefit of creditors, or the failure by the Issuer generally to pay its debts as such debts become due, or the taking of action by
the Issuer in furtherance of any of the foregoing. 
  
 The Issuer shall deliver to the Trustee and the Security
Insurer, within five days after the occurrence thereof, written notice in the form of an Officer’s Certificate of any event which with the giving of notice and the lapse of time would become an Event of Default under clause (iii), its status
and what action the Issuer is taking or proposes to take with respect thereto. 
  
 SECTION
5.2  Rights Upon Event of Default. 
  
 (a)    If an Insurer Default shall
not have occurred and be continuing and an Event of Default shall have occurred and be continuing, the Notes shall become immediately due and payable at par, together with accrued interest thereon. If an Event of Default shall have occurred and be
continuing, the Controlling Party may exercise any of the remedies specified in Section 5.4(a). In the event of any acceleration of any Notes by operation of this Section 5.2, the Trustee shall continue to be entitled to make claims under the Note
Policy pursuant to the Sale and Servicing Agreement for Scheduled Payments on the Notes. Payments under the Note Policy following acceleration of any Notes shall be applied by the Trustee: 
  
 FIRST:    to Noteholders for amounts due and unpaid on the Notes for interest, ratably, without preference or priority of any kind,
according to the amounts due and payable on the Notes for interest; and 
  
 SECOND:    to Noteholders for amounts due and unpaid on the Notes for principal, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal.

  
 (b)    In the event any Notes are accelerated due to an Event of Default, the Security
Insurer shall have the right (in addition to its obligation to pay Scheduled Payments on the Notes in accordance with the Note Policy), but not the obligation, to make payments under the Note Policy or otherwise of interest and principal due on such
Notes, in whole or in part, on any date or dates following such acceleration as the Security Insurer, in its sole discretion, shall elect. 
  
 (c)    If an Insurer Default shall have occurred and be continuing and an Event of Default shall have occurred and be continuing, the Trustee in its discretion may, or, if so requested in writing by
Holders holding Notes representing not less than a majority of the Outstanding Amount of the Notes, shall declare by written notice to the Issuer that the Notes become, whereupon they shall become, immediately due and payable at par, together with
accrued interest thereon. 
  
 (d)    If an Insurer Default shall have occurred and be continuing,
then at any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article V provided, the Noteholders representing a
majority of the Outstanding Amount of the 
 

 30 

  
 Notes, by written notice to the Issuer and the Trustee, may rescind and annul such declaration and its
consequences if: 
  
 (i)    the Issuer has paid or deposited with the Trustee a
sum sufficient to pay: 
  
 (A)    all payments of principal of and interest on
all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and 
  
 (B)    all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the
Trustee and its agents and counsel; and 
  
 (ii)    all Events of Default, other
than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. 
  
 No such rescission shall affect any subsequent default or impair any right consequent thereto. 
  
 SECTION 5.3  Collection of Indebtedness and Suits for Enforcement by Trustee. 
  
 (a)    The Issuer covenants that if (i) default is made in the payment of any interest on any Note when the same becomes due and payable, and such default continues for a period of
five days, or (ii) default is made in the payment of the principal of or any installment of the principal of any Note when the same becomes due and payable, the Issuer will pay to the Trustee, for the benefit of the Holders of the Notes, the whole
amount then due and payable on such Notes for principal and interest, with interest upon the overdue principal, and, to the extent payment at such rate of interest shall be legally enforceable, upon overdue installments of interest, at the
applicable Interest Rate and in addition thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee and its agents and
counsel. 
  
 (b)    Each Issuer Secured Party hereby irrevocably and unconditionally appoints the
Controlling Party as the true and lawful attorney-in-fact of such Issuer Secured Party for so long as such Issuer Secured Party is not the Controlling Party, with full power of substitution, to execute, acknowledge and deliver any notice, document,
certificate, paper, pleading or instrument and to do in the name of the Controlling Party as well as in the name, place and stead of such Issuer Secured Party such acts, things and deeds for or on behalf of and in the name of such Issuer Secured
Party under this Indenture (including specifically under Section 5.4) and under the Basic Documents which such Issuer Secured Party could or might do or which may be necessary, desirable or convenient in such Controlling Party’s sole discretion
to effect the purposes contemplated hereunder and under the Basic Documents and, without limitation, following the occurrence of an Event of Default, exercise full right, power and authority to take, or defer from taking, any and all acts with
respect to the administration, maintenance or disposition of the Trust Estate. 
 

 31 

  
 (c)    If an Event of Default occurs and is continuing, the
Trustee may in its discretion but with the consent of the Controlling Party and shall, at the direction of the Controlling Party, proceed to protect and enforce its rights and the rights of the Noteholders by such appropriate Proceedings as the
Trustee or the Controlling Party shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to
enforce any other proper remedy or legal or equitable right vested in the Trustee by this Indenture or by law. 
  
 (d)    In case there shall be pending, relative to the Issuer or any other obligor upon the Notes or any Person having or claiming an ownership interest in the Trust Estate, proceedings under Title 11 of the
United States Code or any other applicable federal or State bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been
appointed for or taken possession of the Issuer or its property or such other obligor or Person, or in case of any other comparable judicial proceedings relative to the Issuer or other obligor upon the Notes, or to the creditors or property of the
Issuer or such other obligor, the Trustee, irrespective of whether the principal of any Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand
pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: 
  
 (i)    to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Notes and to file such other papers or documents as may
be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all
expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Noteholders allowed in such proceedings; 
  
 (ii)    unless prohibited by applicable law and regulations, to vote on behalf of the Noteholders in
any election of a trustee, a standby trustee or person performing similar functions in any such proceedings; 
  
 (iii)    to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all amounts received with respect to the claims of the Noteholders and of the Trustee on
their behalf; and 
  
 (iv)    to file such proofs of claim and other papers or
documents as may be necessary or advisable in order to have the claims of the Trustee or the Noteholders allowed in any judicial proceedings relative to the Issuer, its creditors and its property; 
  
 and any trustee, receiver, liquidator, custodian or other similar official in any such Proceeding is hereby authorized by each of such Noteholders to make
payments to the Trustee, and, in the event that the Trustee shall consent to the making of payments directly to such Noteholders, to pay to the Trustee such amounts as shall be sufficient to cover reasonable compensation to the 
 

 32 

  
 Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other
expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of negligence or bad faith. 
  
 (e)    Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Noteholder any plan of
reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Noteholder in any such Proceeding except, as aforesaid, to vote for the
election of a trustee in bankruptcy or similar person. 
  
 (f)    All rights of action and of
asserting claims under this Indenture, the Spread Account Agreement or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes or the production thereof in any trial or other proceedings relative thereto,
and any such action or Proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each
predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Notes. 
  
 (g)    In any Proceedings brought by the Trustee (and also any Proceedings involving the interpretation of any provision of this Indenture or the Spread Account Agreement), the Trustee shall be held to represent
all the Holders of the Notes, and it shall not be necessary to make any Noteholder a party to any such proceedings. 
  
 SECTION 5.4  Remedies. 
  
 (a)    If an Event of Default
shall have occurred and be continuing, the Controlling Party may do one or more of the following (subject to Section 5.5): 
  
 (i)    institute Proceedings in its own name and as trustee of an express trust for the collection of all amounts then payable on the Notes or under this Indenture with respect thereto, whether by
declaration or otherwise, enforce any judgment obtained, and collect from the Issuer and any other obligor upon such Notes moneys adjudged due; 
  
 (ii)    institute Proceedings from time to time for the complete or partial foreclosure of this Indenture with respect to the Trust Estate; 
  
 (iii)    exercise any remedies of a secured party under the UCC and take any other appropriate action
to protect and enforce the rights and remedies of the Trustee and the Holders of the Notes; and 
  
 (iv)    direct the Trust Collateral Agent to sell the Trust Estate or any portion thereof or rights or interest therein, at one or more public or private sales called and conducted in any manner permitted by law;
provided, however, that 
  
 (A)    if the Security Insurer is the
Controlling Party, the Security Insurer may not sell or otherwise liquidate the Trust Estate following an Insurance Agreement Indenture Cross Default unless 
 

 33 

  
 (I)    such Insurance Agreement Indenture
Cross Default arises from a claim being made on the Note Policy or from the insolvency of the Trust or the Seller, or 
  
 (II)    the proceeds of such sale or liquidation distributable to the Noteholders are sufficient to discharge in full all amounts then due and unpaid upon such Notes for principal and interest; or

  
 (B)    if the Trustee is the Controlling Party, the Trustee may not sell or
otherwise liquidate the Trust Estate following an Event of Default unless 
  
 (I)    such Event of Default is of the type described in Section 5.1(i) or (ii), or 
  
 (II)    either 
  
 (x)    the
Holders of 100% of the Outstanding Amount of the Notes consent thereto, or 
  
 (y)    the proceeds of such sale or liquidation distributable to the Noteholders are sufficient to discharge in full all amounts then due and unpaid upon such Notes for principal and interest, or 

 
 (z)    the Trustee determines that the Trust Estate will not continue to provide
sufficient funds for the payment of principal of and interest on the Notes as they would have become due if the Notes had not been declared due and payable, and the Trustee provides prior written notice to the Rating Agencies and obtains the consent
of Holders of 66-2/3% of the Outstanding Amount of the Notes. 
  
 In determining such sufficiency or insufficiency
with respect to clause (y) and (z), the Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to
the sufficiency of the Trust Estate for such purpose. 
  
 SECTION 5.5  Optional Preservation of
the Receivables.    If the Trustee is the Controlling Party and if the Notes have been declared to be due and payable under Section 5.2 following an Event of Default and such declaration and its consequences have not been
rescinded and annulled, the Trustee may, but need not, elect to direct the Trust Collateral Agent to maintain possession of the Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for
the payment of principal of and interest on the Notes, and the Trustee shall take such desire into account when determining whether or not to direct the Trust Collateral Agent to maintain possession of the Trust Estate. In determining whether to
direct the Trust Collateral Agent to maintain possession of the Trust Estate, the Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the
feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose. 
 

 34 

  
 SECTION 5.6  Priorities. 
  
 (a)    Following (1) the acceleration of the Notes pursuant to Section 5.2 or (2) if an Insurer Default shall have
occurred and be continuing, the occurrence of an Event of Default pursuant to Section 5.1(i), 5.1(ii), 5.1(iv), 5.1(v) or 5.1(vi) of this Indenture or (3) the receipt of Insolvency Proceeds pursuant to Section 10.1(b) of the Sale and Servicing
Agreement, the Distribution Amount, including any money or property collected pursuant to Section 5.4 of this Indenture and any such Insolvency Proceeds, shall be applied by the Trust Collateral Agent on the related Distribution Date in the
following order of priority: 
  
 FIRST:    amounts due and owing and required to
be distributed to the Servicer (provided there is no Servicer Event of Default), the Lockbox Bank, the Owner Trustee, the Trustee, Back Up Servicer and the Trust Collateral Agent, respectively, pursuant to priorities (i) and (ii) of Section 5.7(a)
of the Sale and Servicing Agreement and not previously distributed, in the order of such priorities as set forth therein and without limitation, preference or priority of any kind within such priorities; 
  
 SECOND:    to Noteholders for amounts due and unpaid on the Notes for interest, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Notes for interest; 
  
 THIRD:    to Noteholders for amounts due and unpaid on the Notes for principal, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal;

  
 FOURTH:    amounts due and owing and required to be distributed to the
Security Insurer pursuant to priority (v) of Section 5.7(a) of the Sale and Servicing Agreement and not previously distributed); and 
  
 FIFTH:    to the Collateral Agent to be applied as provided in the Spread Account Agreement; 
  
 (b)    The Trustee may fix a record date and payment date for any payment to Noteholders pursuant to this Section 5.6. At least 15 days before such record date the Issuer shall mail
to each Noteholder and the Trustee a notice that states the record date, the payment date and the amount to be paid. 
  
 SECTION 5.7  Limitation of Suits.    No Holder of any Note shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of
a receiver or trustee, or for any other remedy hereunder, unless: 
  
 (i)    such
Holder has previously given written notice to the Trustee of a continuing Event of Default; 
  
 (ii)    the Holders of not less than 25% of the Outstanding Amount of the Notes have made written request to the Trustee to institute such Proceeding in respect of such Event of Default in its own name as Trustee
hereunder; 
 

 35 

  
 (iii)    such Holder or Holders have offered
to the Trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in complying with such request; 
  
 (iv)    the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; 
  
 (v)    no direction inconsistent with such written request has been given to the Trustee during such
60-day period by the Holders of a majority of the Outstanding Amount of the Notes; and 
  
 (vi)    an Insurer Default shall have occurred and be continuing; 
  
 it being understood and intended
that no one or more Noteholders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Noteholders or to obtain or to seek to obtain
priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. 
  
 SECTION 5.8  Unconditional Rights of Noteholders To Receive Principal and Interest.    Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right,
which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture (or, in the case of redemption, on or after the
Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. 
  
 SECTION 5.9  Restoration of Rights and Remedies.    If the Controlling Party or any Noteholder has instituted any Proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason or has been determined adversely to the Trustee or to such Noteholder, then and in every such case the Issuer, the Trustee and the Noteholders shall, subject
to any determination in such Proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Trustee and the Noteholders shall continue as though no such Proceeding had been
instituted. 
  
 SECTION 5.10  Rights and Remedies Cumulative.    No right
or remedy herein conferred upon or reserved to the Controlling Party or to the Noteholders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any
other appropriate right or remedy. 
  
 SECTION 5.11  Delay or Omission Not a
Waiver.    No delay or omission of the Trustee, the Controlling Party or any Holder of any Note to exercise any right or remedy accruing upon any Default or Event of Default shall impair any such right or remedy or constitute
a waiver of any such Default or Event of Default or an acquiescence therein. Every 
 

 36 

  
 right and remedy given by this Article V or by law to the Trustee or to the Noteholders may be exercised
from time to time, and as often as may be deemed expedient, by the Trustee or by the Noteholders, as the case may be. 
  
 SECTION 5.12  Control by Noteholders.    If the Trustee is the Controlling Party, the Holders of a majority of the Outstanding Amount of the Notes shall have the right to direct the time,
method and place of conducting any Proceeding for any remedy available to the Trustee with respect to the Notes or exercising any trust or power conferred on the Trustee; provided that 
  
 (i)    such direction shall not be in conflict with any rule of law or with this Indenture; 
  
 (ii)    subject to the express terms of Section 5.4, any direction to the Trustee to sell or liquidate
the Trust Estate shall be by the Noteholders representing not less than 100% of the Outstanding Amount of the Notes; 
  
 (iii)    if the conditions set forth in Section 5.5 have been satisfied and the Trustee elects to retain the Trust Estate pursuant to such Section, then any direction to the Trustee by Noteholders
representing less than 100% of the Outstanding Amount of the Notes to sell or liquidate the Trust Estate shall be of no force and effect; and 
  
 (iv)    the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction; 
  

provided, however, that, subject to Article VI, the Trustee need not take any action that it determines might involve it in liability, financial or otherwise, without receiving
indemnity satisfactory to it, or might materially adversely affect the rights of any Noteholders not consenting to such action. 
  
 SECTION 5.13  Waiver of Past Defaults.    If an Insurer Default shall have occurred and be continuing, prior to the declaration of the acceleration of the maturity of the Notes as provided
in Section 5.4, the Noteholders of not less than a majority of the Outstanding Amount of the Notes may waive any past Default or Event of Default and its consequences except a Default (a) in payment of principal of or interest on any of the Notes or
(b) in respect of a covenant or provision hereof which cannot be modified or amended without the consent of the Holder of each Note. In the case of any such waiver, the Issuer, the Trustee and the Holders of the Notes shall be restored to their
former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereto. 
  
 Upon any such waiver, such Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not
to have occurred, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. 
  
 SECTION 5.14  Undertaking for Costs.  All parties to this Indenture agree, and each Holder of any Note by such Holder’s acceptance
thereof shall be deemed to have agreed, 
 

 37 

  
 that any court may in its discretion require, in any suit for the enforcement of any right or remedy
under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this
Section shall not apply to (a) any suit instituted by the Trustee, (b) any suit instituted by any Noteholder, or group of Noteholders, in each case holding in the aggregate more than 10% of the Outstanding Amount of the Notes or (c) any suit
instituted by any Noteholder for the enforcement of the payment of principal of or interest on any Note on or after the respective due dates expressed in such Note and in this Indenture (or, in the case of redemption, on or after the Redemption
Date). 
  
 SECTION 5.15  Waiver of Stay or Extension Laws.    The Issuer
covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead or in any manner whatsoever, claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter
in force, that may affect the covenants or the performance of this Indenture; and the Issuer (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or
impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
  
 SECTION 5.16  Action on Notes.    The Trustee’s right to seek and recover judgment on the Notes or under this Indenture
shall not be affected by the seeking, obtaining or application of any other relief under or with respect to this Indenture. Neither the lien of this Indenture nor any rights or remedies of the Trustee or the Noteholders shall be impaired by the
recovery of any judgment by the Trustee against the Issuer or by the levy of any execution under such judgment upon any portion of the Trust Estate or upon any of the assets of the Issuer. 
  
 SECTION 5.17  Performance and Enforcement of Certain Obligations. 
  
 (a)    Promptly following a request from the Trustee to do so and at the Servicer’s expense, the Issuer agrees to take all such lawful action as
the Trustee may request to compel or secure the performance and observance by the Seller and the Servicer, as applicable, of each of their obligations to the Issuer under or in connection with the Sale and Servicing Agreement in accordance with the
terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale and Servicing Agreement to the extent and in the manner directed by the Trustee, including the
transmission of notices of default on the part of the Seller or the Servicer thereunder and the institution of legal or administrative actions or Proceedings to compel or secure performance by the Seller or the Servicer of each of their obligations
under the Sale and Servicing Agreement. 
  
 (b)    If the Trustee is a Controlling Party and if
an Event of Default has occurred and is continuing, the Trustee may, and, at the written direction of the Holders of 66-2/3% of the Outstanding Amount of the Notes shall, subject to Article VI, exercise all rights, remedies, powers, privileges and
claims of the Issuer against the Seller or the Servicer under or in connection with the Sale and Servicing Agreement, including the right or power to take any 
 

 38 

  
 action to compel or secure performance or observance by the Seller or the Servicer of each of their
obligations to the Issuer thereunder and to give any consent, request, notice, direction, approval, extension or waiver under the Sale and Servicing Agreement, and any right of the Issuer to take such action shall be suspended. 

 
 ARTICLE VI 
  
 The Trustee and the Trust Collateral Agent 
  
 SECTION 6.1  Duties of
Trustee. 
  
 (a)    If an Event of Default has occurred and is continuing, the Trustee shall
exercise the rights and powers vested in it by this Indenture and the Basic Documents to which it is a Party and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct
of such person’s own affairs. 
  
 (b)    Except during the continuance of an Event of
Default: 
  
 (i)    the Trustee undertakes to perform such duties and only such
duties as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
  
 (ii)    in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; however, the Trustee shall examine the certificates and opinions to determine whether or not
they conform on their face to the requirements of this Indenture. 
  
 (c)    The Trustee may not
be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
  
 (i)    this paragraph does not limit the effect of paragraph (b) of this Section; 
  
 (ii)    the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer unless it is proved that
the Trustee was negligent in ascertaining the pertinent facts; and 
  
 (iii)    the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 5.12. 
  
 (d)    The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in
writing with the Issuer. 
  
 (e)    Money held in trust by the Trustee need not be segregated
from other funds except to the extent required by law or the terms of this Indenture or the Sale and Servicing Agreement. 
 

 39 

  
 (f)    No provision of this Indenture shall require the
Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such
funds or indemnity reasonably satisfactory to it against such risk or liability is not assured to it. 
  
 (g)    Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 6.1 and to the provisions of
the TIA. 
  
 (h)    The Trustee shall, upon two Business Days’ prior notice to the Trustee,
permit any representative of the Security Insurer at the expense of the Trust, during the Trustee’s normal business hours, to examine all books of account, records, reports and other papers of the Trustee relating to the Notes, to make copies
and extracts therefrom and to discuss the Trustee’s affairs and actions, as such affairs and actions relate to the Trustee’s duties with respect to the Notes, with the Trustee’s officers and employees responsible for carrying out the
Trustee’s duties with respect to the Notes. 
  
 (i)    The Trustee shall, and hereby agrees
that it will, perform all of the obligations and duties required of it under the Sale and Servicing Agreement. 
  
 (j)    The Trustee shall, and hereby agrees that it will, hold the Note Policy in trust, and will hold any proceeds of any claim on the Note Policy in trust solely for the use and benefit of the Noteholders.

  
 (k)    Without limiting the generality of this Section 6.1, the Trustee shall have no duty
(i) to see to any recording, filing or depositing of this Indenture or any agreement referred to herein or any financing statement evidencing a security interest in the Financed Vehicles, or to see to the maintenance of any such recording or filing
or depositing or to any recording, refiling or redepositing of any thereof, (ii) to see to any insurance of the Financed Vehicles or Obligors or to effect or maintain any such insurance, (iii) to see to the payment or discharge of any tax,
assessment or other governmental charge or any Lien or encumbrance of any kind owing with respect to, assessed or levied against any part of the Trust, (iv) to confirm or verify the contents of any reports or certificates delivered to the Trustee
pursuant to this Indenture or the Sale and Servicing Agreement believed by the Trustee to be genuine and to have been signed or presented by the proper party or parties, or (v) to inspect the Financed Vehicles at any time or ascertain or inquire as
to the performance of observance of any of the Issuer’s, the Seller’s or the Servicer’s representations, warranties or covenants or the Servicer’s duties and obligations as Servicer and as custodian of the Receivable Files under
the Sale and Servicing Agreement. 
  
 (l)    In no event shall JPMorgan Chase Bank, in any of its
capacities hereunder, be deemed to have assumed any duties of the Owner Trustee under the Delaware Statutory Trust Statute, common law, or the Trust Agreement. 
  
 SECTION 6.2  Rights of Trustee. 
 

 40 

  
 (a)    The Trustee may conclusively rely on any document
believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
  
 (b)    Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel. The Trustee shall not be
liable for any action it takes or omits to take in good faith in reliance on the Officer’s Certificate or Opinion of Counsel. 
  
 (c)    The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys or a custodian or nominee, and the Trustee shall
not be responsible for any misconduct or negligence on the part of, or for the supervision of, AmeriCredit Financial Services, Inc., or any other such agent, attorney, custodian or nominee appointed with due care by it hereunder. 

 
 (d)    The Trustee shall not be liable for any action it takes or omits to take in good faith which it
believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct, negligence or bad faith. 
  
 (e)    The Trustee may consult with counsel, and the advice or opinion of counsel with respect to legal matters relating to this Indenture and the Notes
shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 
  
 (f)    The Trustee shall be under no obligation to institute, conduct or defend any litigation under this Indenture or
in relation to this Indenture, at the request, order or direction of any of the Noteholders or the Controlling Party, pursuant to the provisions of this Indenture, unless such Noteholders or the Controlling Party shall have offered to the Trustee
reasonable security or indemnity against the costs, expenses and liabilities that may be incurred therein or thereby; provided, however, that the Trustee shall, upon the occurrence of an Event of Default (that has not been cured), exercise
the rights and powers vested in it by this Indenture with reasonable care and skill. 
  
 (g)    The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval,
bond or other paper or document, unless requested in writing to do so by the Security Insurer (so long as no Insurer Default shall have occurred and be continuing) or (if an Insurer Default shall have occurred and be continuing) by the Noteholders
evidencing not less than 25% of the Outstanding Amount thereof; provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such
investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture or the Sale and Servicing Agreement, the Trustee may require reasonable indemnity against such cost,
expense or liability as a condition to so proceeding; the reasonable expense of every such examination shall be paid by the Person making such request, or, if paid by the Trustee, shall be reimbursed by the Person making such request upon demand.

 

 41 

  
 (h)    The Trustee shall not be liable for any losses on
investments except for losses resulting from the failure of the Trustee to make an investment in accordance with instructions given in accordance hereunder. If the Trustee acts as the Note Paying Agent or Note Registrar, the rights and protections
afforded to the Trustee shall be afforded to the Note Paying Agent and Note Registrar. 
  
 SECTION
6.3  Individual Rights of Trustee.    The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or its Affiliates with the same rights
it would have if it were not Trustee. Any Note Paying Agent, Note Registrar, co-registrar or co-Note Paying Agent may do the same with like rights. However, the Trustee must comply with Sections 6.11 and 6.12. 
  
 SECTION 6.4  Trustee’s Disclaimer.    The Trustee shall not be responsible for and makes
no representation as to the validity or adequacy of this Indenture, the Trust Estate or the Notes, it shall not be accountable for the Issuer’s use of the proceeds from the Notes, and it shall not be responsible for any statement of the Issuer
in the Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication. 
  
 SECTION 6.5  Notice of Defaults.    If an Event of Default occurs and is continuing and if it is either known by, or written notice of the existence thereof
has been delivered to, a Responsible Officer of the Trustee, the Trustee shall mail to each Noteholder notice of the Default within 90 days after such knowledge or notice occurs. Except in the case of a Default in payment of principal of or interest
on any Note (including payments pursuant to the mandatory redemption provisions of such Note), the Trustee may withhold the notice if and so long as it in good faith determines that withholding the notice is in the interests of Noteholders.

  
 SECTION 6.6  Reports by Trustee to Holders.    The Trustee shall
deliver to each Noteholder such information as may be reasonably required to enable such Holder to prepare its federal and state income tax returns. 
  
 SECTION 6.7  Compensation and Indemnity. 
  
 (a)    Pursuant to Section 5.7(a) of the Sale and Servicing Agreement, the Issuer shall, or shall cause the Servicer to, pay to the Trustee from time to time compensation for its services. The Trustee’s
compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Trustee and the Trust Collateral Agent for all reasonable out-of-pocket expenses incurred or made by
it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s, the Backup Servicer’s, the Collateral
Agent’s and the Trust Collateral Agent’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Trustee, the Trust Collateral Agent and their respective officers, directors, employees and agents
against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by each of them in connection with the acceptance or the administration of this Trust and the performance of its duties hereunder. The Trustee,
Trust Collateral Agent, the Collateral Agent or the Backup Servicer shall notify the Issuer and the Servicer promptly of any claim for which it may seek 
 

 42 

  
 indemnity. Failure by the Trustee or Trust Collateral Agent to so notify the Issuer and the Servicer
shall not relieve the Issuer of its obligations hereunder or the Servicer of its obligations under Article XI of the Sale and Servicing Agreement. The Issuer shall cause the Servicer to defend the claim, and the Trustee, Trust Collateral Agent, the
Collateral Agent or the Backup Servicer may have separate counsel and the Issuer shall cause the Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss,
liability or expense incurred by the Trustee or Trust Collateral Agent through the Trustee’s or Trust Collateral Agent’s own willful misconduct, negligence or bad faith. 
  
 (b)    The Issuer’s payment obligations to the Trustee pursuant to this Section shall survive the discharge of this Indenture or the earlier
resignation or removal of the Trustee or the Trust Collateral Agent or the Collateral Agent or the Backup Servicer. When the Trustee, the Trust Collateral Agent, the Collateral Agent or the Backup Servicer incurs expenses after the occurrence of a
Default specified in Section 5.1(v) or (vi) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or State bankruptcy, insolvency or
similar law. Notwithstanding anything else set forth in this Indenture or the Basic Documents, the Trustee agrees that the obligations of the Issuer (but not the Servicer) to the Trustee hereunder and under the Basic Documents shall be recourse to
the Trust Estate only and specifically shall not be recourse to the assets of the Certificateholder or any Noteholder. In addition, the Trustee agrees that its recourse to the Issuer, the Trust Estate, the Seller and amounts held pursuant of the
Spread Account Agreement shall be limited to the right to receive the distributions referred to in Section 5.7(a) of the Sale and Servicing Agreement. 
  
 SECTION 6.8  Replacement of Trustee.    The Trustee may resign at any time by so notifying the Issuer and the Security Insurer. The Issuer may and, at the
request of the Security Insurer (unless an Insurer Default shall have occurred and be continuing) shall, remove the Trustee, if: 
  
 (i)    the Trustee fails to comply with Section 6.11; 
  
 (ii)    a court having jurisdiction in the premises in respect of the Trustee in an involuntary case or proceeding under federal or State banking or bankruptcy laws, as now or hereafter constituted, or
any other applicable federal or State bankruptcy, insolvency or other similar law, shall have entered a decree or order granting relief or appointing a receiver, liquidator, assignee, custodian, trustee, conservator, sequestrator (or similar
official) for the Trustee or for any substantial part of the Trustee’s property, or ordering the winding-up or liquidation of the Trustee’s affairs; 
  
 (iii)    an involuntary case under the federal bankruptcy laws, as now or hereafter in effect, or another present or future federal or
State bankruptcy, insolvency or similar law is commenced with respect to the Trustee and such case is not dismissed within 60 days; 
  
 (iv)    the Trustee commences a voluntary case under any federal or state banking or bankruptcy laws, as now or hereafter constituted, or any other applicable federal or State
bankruptcy, insolvency or other similar law, or consents to the 
 

 43 

 appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, conservator, sequestrator
(or other similar official) for the Trustee or for any substantial part of the Trustee’s property, or makes any assignment for the benefit of creditors or fails generally to pay its debts as such debts become due or takes any action in
furtherance of any of the foregoing; or 
  
 (v)    the Trustee otherwise becomes
incapable of acting. 
  
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee acceptable to the Security Insurer (so long as an Insurer Default shall not have occurred and be continuing).
If the Issuer fails to appoint such a successor Trustee, the Security Insurer may appoint a successor Trustee. 
  
 A
successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee, the Security Insurer (provided that no Insurer Default shall have occurred and be continuing) and to the Issuer. Thereupon the resignation or removal of
the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the retiring Trustee under this Indenture subject to satisfaction of the Rating Agency Condition. The successor Trustee shall mail
a notice of its succession to Noteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee. 
  
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of a majority in Outstanding Amount of the
Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
  
 If the Trustee
fails to comply with Section 6.11, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
  
 Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section shall not become effective until
acceptance of appointment by the successor Trustee pursuant to Section 6.8 and payment of all fees and expenses owed to the outgoing Trustee. 
  
 Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s and the Servicer’s obligations under Section 6.7 shall continue for the benefit of the retiring Trustee.

  
 SECTION 6.9  Successor Trustee by Merger.    If the Trustee
consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall
be the successor Trustee. The Trustee shall provide the Rating Agencies prior written notice of any such transaction. 
  
 In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this Indenture any of the Notes 
 

 44 

  
 shall have been authenticated but not delivered, any such successor to the Trustee may adopt the
certificate of authentication of any predecessor trustee, and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the
name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee
shall have. 
  
 SECTION 6.10  Appointment of Co-Trustee or Separate Trustee. 

 
 (a)    Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any
legal requirement of any jurisdiction in which any part of the Trust may at the time be located, the Trustee with the consent of the Security Insurer (so long as an Insurer Default shall not have occurred and be continuing) shall have the power and
may execute and deliver all instruments to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of the Trust, and to vest in such Person or Persons, in such capacity and for
the benefit of the Noteholders, such title to the Trust, or any part hereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee
or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 6.11 and no notice to Noteholders of the appointment of any co-trustee or separate trustee shall be required under Section 6.8
hereof. 
  
 (b)    Every separate trustee and co-trustee shall, to the extent permitted by law,
be appointed and act subject to the following provisions and conditions: 
  
 (i)    all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly
(it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be
performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Trust or any portion thereof in any such jurisdiction) shall be
exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee; 
  
 (ii)    no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder, including acts or omissions of predecessor or successor trustees; and 

 
 (iii)    the Trustee may at any time accept the resignation of or remove any separate
trustee or co-trustee. 
  
 (c)    Any notice, request or other writing given to the Trustee shall
be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this 
 

 45 

  
 Agreement and the conditions of this Article VI. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture,
specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection to, the Trustee. Every such instrument shall be filed with the Trustee. 
  
 (d)    Any separate trustee or co-trustee may at any time constitute the Trustee, its agent or attorney-in-fact with
full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate trustee or co-trustee shall die, dissolve, become insolvent, become incapable of
acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall invest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. 

 
 (e)    Any and all amounts relating to the fees and expenses of the co-trustee or separate trustee will be
borne by the Trust Estate. 
  
 SECTION 6.11  Eligibility:
Disqualification.    The Trustee shall at all times satisfy the requirements of TIA § 310(a). The Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual
report of condition and it shall have a long term debt rating of BBB-, or an equivalent rating, or better by the Rating Agencies. The Trustee shall provide copies of such reports to the Security Insurer upon request. The Trustee shall comply with
TIA § 310(b), including the optional provision permitted by the second sentence of TIA § 310(b)(9); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which
other securities of the Issuer are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. 
  
 SECTION 6.12  Preferential Collection of Claims Against Issuer.    The Trustee shall comply with TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A
Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated. 
  
 SECTION 6.13  Appointment and Powers.    Subject to the terms and conditions hereof, each of the Issuer Secured Parties hereby appoints JPMorgan Chase Bank, as the Trust Collateral Agent
with respect to the Collateral, and JPMorgan Chase Bank hereby accepts such appointment and agrees to act as Trust Collateral Agent with respect to the Indenture Collateral for the Issuer Secured Parties, to maintain custody and possession of such
Indenture Collateral (except as otherwise provided hereunder) and to perform the other duties of the Trust Collateral Agent in accordance with the provisions of this Indenture and the other Basic Documents. Each Issuer Secured Party hereby
authorizes the Trust Collateral Agent to take such action on its behalf, and to exercise such rights, remedies, powers and privileges hereunder, as the Controlling Party may direct and as are specifically authorized to be exercised by the Trust
Collateral Agent by the terms hereof, together with such actions, rights, remedies, powers and privileges as are reasonably incidental thereto, including, but not limited to, the execution of any powers of attorney. The Trust Collateral Agent shall
act upon and in compliance with the written instructions of the Controlling Party delivered pursuant to this Indenture promptly following 
 

 46 

  
 receipt of such written instructions; provided that the Trust Collateral Agent shall not act in
accordance with any instructions (i) which are not authorized by, or in violation of the provisions of, this Indenture, (ii) which are in violation of any applicable law, rule or regulation or (iii) for which the Trust Collateral Agent has not
received reasonable indemnity. Receipt of such instructions shall not be a condition to the exercise by the Trust Collateral Agent of its express duties hereunder, except where this Indenture provides that the Trust Collateral Agent is permitted to
act only following and in accordance with such instructions. 
  
 SECTION 6.14  Performance of
Duties.    The Trust Collateral Agent shall have no duties or responsibilities except those expressly set forth in this Indenture and the other Basic Documents to which the Trust Collateral Agent is a party or as directed by
the Controlling Party in accordance with this Indenture. The Trust Collateral Agent shall not be required to take any discretionary actions hereunder except at the written direction and with the indemnification of the Controlling Party. The Trust
Collateral Agent shall, and hereby agrees that it will, subject to this Article, perform all of the duties and obligations required of it under the Sale and Servicing Agreement. 
  
 SECTION 6.15  Limitation on Liability.    Neither the Trust Collateral Agent nor any of its directors, officers or employees
shall be liable for any action taken or omitted to be taken by it or them hereunder, or in connection herewith, except that the Trust Collateral Agent shall be liable for its negligence, bad faith or willful misconduct; nor shall the Trust
Collateral Agent be responsible for the validity, effectiveness, value, sufficiency or enforceability against the Issuer of this Indenture or any of the Indenture Collateral (or any part thereof). Notwithstanding any term or provision of this
Indenture, the Trust Collateral Agent shall incur no liability to the Issuer or the Issuer Secured Parties for any action taken or omitted by the Trust Collateral Agent in connection with the Indenture Collateral, except for the negligence, bad
faith or willful misconduct on the part of the Trust Collateral Agent, and, further, shall incur no liability to the Issuer Secured Parties except for negligence, bad faith or willful misconduct in carrying out its duties to the Issuer Secured
Parties. The Trust Collateral Agent shall be protected and shall incur no liability to any such party in relying upon the accuracy, acting in reliance upon the contents, and assuming the genuineness of any notice, demand, certificate, signature,
instrument or other document reasonably believed by the Trust Collateral Agent to be genuine and to have been duly executed by the appropriate signatory, and (absent actual knowledge to the contrary by a Responsible Officer of the Trust Collateral
Agent) the Trust Collateral Agent shall not be required to make any independent investigation with respect thereto. The Trust Collateral Agent shall at all times be free independently to establish to its reasonable satisfaction, but shall have no
duty to independently verify, the existence or nonexistence of facts that are a condition to the exercise or enforcement of any right or remedy hereunder or under any of the Basic Documents. The Trust Collateral Agent may consult with counsel, and
shall not be liable for any action taken or omitted to be taken by it hereunder in good faith and in accordance with the advice of such counsel. The Trust Collateral Agent shall not be under any obligation to exercise any of the remedial rights or
powers vested in it by this Indenture or to follow any direction from the Controlling Party or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder unless it shall have received reasonable
security or indemnity satisfactory to the Trust Collateral Agent against the costs, expenses and liabilities which might be incurred by it. 
 

 47 

  
 SECTION 6.16  Reliance Upon
Documents.    In the absence of negligence, bad faith or willful misconduct on its part, the Trust Collateral Agent shall be entitled to conclusively rely on any communication, instrument, paper or other document reasonably
believed by it to be genuine and correct and to have been signed or sent by the proper Person or Persons and shall have no liability in acting, or omitting to act, where such action or omission to act is in reasonable reliance upon any statement or
opinion contained in any such document or instrument. 
  
 SECTION 6.17  Successor Trust
Collateral Agent. 
  
 (a)    Merger.  Any Person into which the Trust
Collateral Agent may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer its trust business and assets as a whole or substantially as a whole, or any Person resulting from any such conversion, merger,
consolidation, sale or transfer to which the Trust Collateral Agent is a party, shall (provided it is otherwise qualified to serve as the Trust Collateral Agent hereunder) be and become a successor Trust Collateral Agent hereunder and be vested with
all of the title to and interest in the Indenture Collateral and all of the trusts, powers, discretions, immunities, privileges and other matters as was its predecessor without the execution or filing of any instrument or any further act, deed or
conveyance on the part of any of the parties hereto, anything herein to the contrary notwithstanding, except to the extent, if any, that any such action is necessary to perfect, or continue the perfection of, the security interest of the Issuer
Secured Parties in the Indenture Collateral; provided that any such successor shall also be the successor Trustee under Section 6.9. 
  
 (b)    Resignation.  The Trust Collateral Agent and any successor Trust Collateral Agent may resign at any time by so notifying the Issuer and the Security Insurer; provided that the
Trust Collateral Agent shall not so resign unless it shall also resign as Trustee hereunder. 
  
 (c)    Removal.  The Trust Collateral Agent may be removed by the Controlling Party at any time (and should be removed at any time that the Trustee has been removed), with or without cause, by an
instrument or concurrent instruments in writing delivered to the Trust Collateral Agent, the other Issuer Secured Party and the Issuer. A temporary successor may be removed at any time to allow a successor Trust Collateral Agent to be appointed
pursuant to subsection (d) below. Any removal pursuant to the provisions of this subsection (c) shall take effect only upon the date which is the latest of (i) the effective date of the appointment of a successor Trust Collateral Agent and the
acceptance in writing by such successor Trust Collateral Agent of such appointment and of its obligation to perform its duties hereunder in accordance with the provisions hereof, and (ii) receipt by the Controlling Party of an Opinion of Counsel to
the effect described in Section 3.6. 
  
 (d)    Acceptance by Successor.  The
Controlling Party shall have the sole right to appoint each successor Trust Collateral Agent. Every temporary or permanent successor Trust Collateral Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the
Trustee, each Issuer Secured Party and the Issuer an instrument in writing accepting such appointment hereunder and the relevant predecessor shall execute, acknowledge and deliver such other documents and instruments as will effectuate the delivery
of all Indenture Collateral 
 

 48 

  
 to the successor Trust Collateral Agent, whereupon such successor, without any further act, deed or
conveyance, shall become fully vested with all the estates, properties, rights, powers, duties and obligations of its predecessor. Such predecessor shall, nevertheless, on the written request of either Issuer Secured Party or the Issuer, execute and
deliver an instrument transferring to such successor all the estates, properties, rights and powers of such predecessor hereunder. In the event that any instrument in writing from the Issuer or an Issuer Secured Party is reasonably required by a
successor Trust Collateral Agent to more fully and certainly vest in such successor the estates, properties, rights, powers, duties and obligations vested or intended to be vested hereunder in the Trust Collateral Agent, any and all such written
instruments shall, at the request of the temporary or permanent successor Trust Collateral Agent, be forthwith executed, acknowledged and delivered by the Trustee or the Issuer, as the case may be. The designation of any successor Trust Collateral
Agent and the instrument or instruments removing any Trust Collateral Agent and appointing a successor hereunder, together with all other instruments provided for herein, shall be maintained with the records relating to the Indenture Collateral and,
to the extent required by applicable law, filed or recorded by the successor Trust Collateral Agent in each place where such filing or recording is necessary to effect the transfer of the Indenture Collateral to the successor Trust Collateral Agent
or to protect or continue the perfection of the security interests granted hereunder. 
  
 SECTION
6.18  Compensation.    The Trust Collateral Agent shall not be entitled to any compensation for the performance of its duties hereunder other than the compensation it is entitled to receive in its capacity as
Trustee. 
  
 SECTION 6.19  Representations and Warranties of the Trust Collateral
Agent.    The Trust Collateral Agent represents and warrants to the Issuer and to each Issuer Secured Party as follows: 
  
 (a)    Due Organization.  The Trust Collateral Agent is a New York banking association and is duly authorized and licensed under applicable law to conduct its
business as presently conducted. 
  
 (b)    Corporate Power.  The Trust
Collateral Agent has all requisite right, power and authority to execute and deliver this Indenture and to perform all of its duties as Trust Collateral Agent hereunder. 
  
 (c)    Due Authorization.  The execution and delivery by the Trust Collateral Agent of this Indenture and the other Transaction
Documents to which it is a party, and the performance by the Trust Collateral Agent of its duties hereunder and thereunder, have been duly authorized by all necessary corporate proceedings and no further approvals or filings, including any
governmental approvals, are required for the valid execution and delivery by the Trust Collateral Agent, or the performance by the Trust Collateral Agent, of this Indenture and such other Basic Documents. 
  
 (d)    Valid and Binding Indenture.  The Trust Collateral Agent has duly executed and delivered this
Indenture and each other Basic Document to which it is a party, and each of this Indenture and each such other Basic Document constitutes the legal, valid and binding obligation of the Trust Collateral Agent, enforceable against the Trust Collateral
Agent 
 

 49 

  
 in accordance with its terms, except as (i) such enforceability may be limited by bankruptcy,
insolvency, reorganization and similar laws relating to or affecting the enforcement of creditors’ rights generally and (ii) the availability of equitable remedies may be limited by equitable principles of general applicability. 

 
 SECTION 6.20  Waiver of Setoffs.    The Trust Collateral Agent hereby expressly
waives any and all rights of setoff that the Trust Collateral Agent may otherwise at any time have under applicable law with respect to any Trust Account and agrees that amounts in the Trust Accounts shall at all times be held and applied solely in
accordance with the provisions hereof. 
  
 SECTION 6.21  Control by the Controlling
Party.    The Trust Collateral Agent shall comply with notices and instructions given by the Issuer only if accompanied by the written consent of the Controlling Party, except that if any Event of Default shall have occurred
and be continuing, the Trust Collateral Agent shall act upon and comply with notices and instructions given by the Controlling Party alone in the place and stead of the Issuer. 
  
 ARTICLE VII 
  
 Noteholders’ Lists and
Reports 
  
 SECTION 7.1  Issuer To Furnish To Trustee Names and Addresses of
Noteholders.    The Issuer will furnish or cause to be furnished to the Trustee (a) not more than five days after the earlier of (i) each Record Date and (ii) three months after the last Record Date, a list, in such
form as the Trustee may reasonably require, of the names and addresses of the Holders as of such Record Date, (b) at such other times as the Trustee may request in writing, within 30 days after receipt by the Issuer of any such request, a list of
similar form and content as of a date not more than 10 days prior to the time such list is furnished; provided, however, that so long as the Trustee is the Note Registrar, no such list shall be required to be furnished. The Trustee or, if the
Trustee is not the Note Registrar, the Issuer shall furnish to the Security Insurer in writing on an annual basis on each June 30 and at such other times as the Security Insurer may request a copy of the list. 
  
 SECTION 7.2  Preservation of Information; Communications to Noteholders. 
  
 (a)    The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of the
Holders contained in the most recent list furnished to the Trustee as provided in Section 7.1 and the names and addresses of Holders received by the Trustee in its capacity as Note Registrar. The Trustee may destroy any list furnished to it as
provided in such Section 7.1 upon receipt of a new list so furnished. 
  
 (b)    Noteholders may
communicate pursuant to TIA § 312(b) with other Noteholders with respect to their rights under this Indenture or under the Notes. 
  
 (c)    The Issuer, the Trustee and the Note Registrar shall have the protection of TIA § 312(c). 
 

 50 

  
 SECTION 7.3  Reports by Issuer. 
  
 (a)    The Issuer shall: 
  
 (i)    file with the Trustee, within 15 days after the Issuer is required to file the same with the Commission, copies of the annual
reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Issuer may be required to file with the Commission
pursuant to Section 13 or 15(d) of the Exchange Act; 
  
 (ii)    file with the
Trustee and the Commission in accordance with rules and regulations prescribed from time to time by the Commission such additional information, documents and reports with respect to compliance by the Issuer with the conditions and covenants of this
Indenture as may be required from time to time by such rules and regulations; and 
  
 (iii)    supply to the Trustee (and the Trustee shall transmit by mail to all Noteholders described in TIA § 313(c)) such summaries of any information, documents and reports required to be filed by the Issuer
pursuant to clauses (i) and (ii) of this Section 7.3(a) as may be required by rules and regulations prescribed from time to time by the Commission. 
  
 (b)    Unless the Issuer otherwise determines, the fiscal year of the Issuer shall end on December 31 of each year. 
  
 SECTION 7.4  Reports by Trustee.    If required by TIA § 313(a), within 60 days after each May 31, beginning with May 31,
2003, the Trustee shall mail to each Noteholder as required by TIA § 313(c) a brief report dated as of such date that complies with TIA § 313(a). The Trustee also shall comply with TIA § 313(b). 
  
 A copy of each report at the time of its mailing to Noteholders shall be filed by the Trustee with the Commission and each stock exchange,
if any, on which the Notes are listed. The Issuer shall notify the Trustee if and when the Notes are listed on any stock exchange. 
  
 ARTICLE VIII 
  
 Accounts, Disbursements and Releases 
  
 SECTION 8.1  Collection of Money.    Except as otherwise expressly provided herein, the
Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Trust Collateral Agent
pursuant to this Indenture and the Sale and Servicing Agreement. The Trustee shall apply all such money received by it, or cause the Trust Collateral Agent to apply all money received by it as provided in this Indenture and the Sale and Servicing
Agreement. Except as otherwise expressly provided in this Indenture or in the Sale and Servicing Agreement, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Estate, the
Trustee may 
 

 51 

  
 take such action as may be appropriate to enforce such payment or performance, including the institution
and prosecution of appropriate proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V. 
  
 SECTION 8.2  Release of Trust Estate. 
  
 (a)    Subject to the payment of its fees and expenses and other amounts pursuant to Section 6.7, the Trust Collateral Agent may, and when required by
the provisions of this Indenture shall, execute instruments to release property from the lien of this Indenture, in a manner and under circumstances that are not inconsistent with the provisions of this Indenture. No party relying upon an instrument
executed by the Trust Collateral Agent as provided in this Article VIII shall be bound to ascertain the Trust Collateral Agent’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.

  
 (b)    The Trust Collateral Agent shall, at such time as there are no Notes outstanding and
all sums due the Trustee pursuant to Section 6.7 have been paid, release any remaining portion of the Trust Estate that secured the Notes from the lien of this Indenture and release to the Issuer or any other Person entitled thereto any funds then
on deposit in the Trust Accounts. The Trustee shall release property from the lien of this Indenture pursuant to this Section 8.2(b) only upon receipt of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and (if
required by the TIA) Independent Certificates in accordance with TIA §§ 314(c) and 314(d)(1) meeting the applicable requirements of Section 11.1. 
  
 SECTION 8.3  Opinion of Counsel.    The Trust Collateral Agent shall receive at least seven days’ notice when requested by the Issuer to take any action
pursuant to Section 8.2(a), accompanied by copies of any instruments involved, and the Trustee shall also require as a condition to such action, an Opinion of Counsel in form and substance satisfactory to the Trustee, stating the legal effect of any
such action, outlining the steps required to complete the same, and concluding that all conditions precedent to the taking of such action have been complied with and such action will not materially and adversely impair the security for the Notes or
the rights of the Noteholders in contravention of the provisions of this Indenture; provided, however, that such Opinion of Counsel shall not be required to express an opinion as to the fair value of the Trust Estate. Counsel rendering any
such opinion may rely, without independent investigation, on the accuracy and validity of any certificate or other instrument delivered to the Trustee in connection with any such action. 
 ARTICLE IX 
  
 Supplemental Indentures 
  
 SECTION 9.1  Supplemental Indentures Without Consent of Noteholders. 
  
 (a)    Without the consent of the Holders of any Notes but with the consent of the Security Insurer (unless an Insurer
Default shall have occurred and be continuing) and with prior notice to the Rating Agencies by the Issuer, as evidenced to the Trustee, the Issuer and the Trustee, when authorized by an Issuer Order, at any time and from time to time, may enter into

 

 52 

  
 one or more indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture
Act as in force at the date of the execution thereof), in form satisfactory to the Trustee, for any of the following purposes: 
  
 (i)    to correct or amplify the description of any property at any time subject to the lien of this Indenture, or better to assure, convey and confirm unto the Trust Collateral
Agent any property subject or required to be subjected to the lien of this Indenture, or to subject to the lien of this Indenture additional property; 
  
 (ii)    to evidence the succession, in compliance with the applicable provisions hereof, of another person to the Issuer, and the
assumption by any such successor of the covenants of the Issuer herein and in the Notes contained; 
  
 (iii)    to add to the covenants of the Issuer, for the benefit of the Holders of the Notes, or to surrender any right or power herein conferred upon the Issuer; 
  
 (iv)    to convey, transfer, assign, mortgage or pledge any property to or with the Trust Collateral
Agent; 
  
 (v)    to cure any ambiguity, to correct or supplement any provision
herein or in any supplemental indenture which may be inconsistent with any other provision herein or in any supplemental indenture or to make any other provisions with respect to matters or questions arising under this Indenture or in any
supplemental indenture; provided that such action shall not adversely affect the interests of the Holders of the Notes; 
  
 (vi)    to evidence and provide for the acceptance of the appointment hereunder by a successor trustee with respect to the Notes and to add to or change any of the provisions of
this Indenture as shall be necessary to facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of Article VI; or 
  
 (vii)    to modify, eliminate or add to the provisions of this Indenture to such extent as shall be necessary to effect the
qualification of this Indenture under the TIA or under any similar federal statute hereafter enacted and to add to this Indenture such other provisions as may be expressly required by the TIA. 
  

The Trustee is hereby authorized to join in the execution of any such supplemental indenture and to make any further appropriate agreements and stipulations that may
be therein contained. 
  
 (b)    The Issuer and the Trustee, when authorized by an Issuer Order,
may, also without the consent of any of the Holders of the Notes but with prior notice to the Rating Agencies by the Issuer, as evidenced to the Trustee, enter into an indenture or indentures supplemental hereto for the purpose of adding any
provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture; provided, however, that such action shall not,
as evidenced by an Opinion of Counsel, adversely affect in any material respect the interests of any Noteholder. 
 

 53 

  
 SECTION 9.2  Supplemental Indentures with Consent of
Noteholders.    The Issuer and the Trustee, when authorized by an Issuer Order, also may, with prior notice to the Rating Agencies, with the consent of the Security Insurer (unless an Insurer Default shall have occurred and
be continuing) and with the consent of the Holders of not less than a majority of the outstanding Amount of the Notes, by Act of such Holders delivered to the Issuer and the Trustee, enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture; provided however, that,
subject to the express rights of the Security Insurer under the Basic Documents, no such supplemental indenture shall, without the consent of the Holder of each Outstanding Note affected thereby: 
  

(i)    change the date of payment of any installment of principal of or interest on any Note, or reduce the principal amount
thereof, the interest rate thereon or the Redemption Price with respect thereto, change the provision of this Indenture relating to the application of collections on, or the proceeds of the sale of, the Trust Estate to payment of principal of or
interest on the Notes, or change any place of payment where, or the coin or currency in which, any Note or the interest thereon is payable, provided, that any change necessitated by the assumption by the Backup Servicer or other successor Servicer
to the duties of AmeriCredit Financial Services, Inc., as Servicer, which results in the Distribution Date becoming the same date as the Insured Distribution Date shall not be considered an event which requires the consent of the Trustee, the
Security Insurer or any Noteholder; 
  
 (ii)    impair the right to institute
suit for the enforcement of the provisions of this Indenture requiring the application of funds available therefor, as provided in Article V, to the payment of any such amount due on the Notes on or after the respective due dates thereof (or, in the
case of redemption, on or after the Redemption Date); 
  
 (iii)    reduce the
percentage of the Outstanding Amount of the Notes, the consent of the Holders of which is required for any such supplemental indenture, or the consent of the Holders of which is required for any waiver of compliance with certain provisions of this
Indenture or certain defaults hereunder and their consequences provided for in this Indenture; 
  
 (iv)    modify or alter the provisions of the proviso to the definition of the term “Outstanding”; 
  
 (v)    reduce the percentage of the Outstanding Amount of the Notes required to direct the Trustee to direct the Issuer to sell or
liquidate the Trust Estate pursuant to Section 5.4; 
  
 (vi)    modify any
provision of this Section except to increase any percentage specified herein or to provide that certain additional provisions of this Indenture or the Basic Documents cannot be modified or waived without the consent of the Holder of each Outstanding
Note affected thereby; 
 

 54 

  
 (vii)    modify any of the provisions of this
Indenture in such manner as to affect the calculation of the amount of any payment of interest or principal due on any Note on any Distribution Date or any Insured Distribution Date (including the calculation of any of the individual components of
such calculation) or to affect the rights of the Noteholders to the benefit of any provisions for the mandatory redemption of the Notes contained herein; or 
  
 (viii)    permit the creation of any lien ranking prior to or on a parity with the lien of this Indenture with respect to any part of
the Trust Estate or, except as otherwise permitted or contemplated herein or in any of the Basic Documents, terminate the lien of this Indenture on any property at any time subject hereto or deprive the Holder of any Note of the security provided by
the lien of this Indenture. 
  
 The Trustee may determine whether or not any Notes would be affected by any
supplemental indenture and any such determination shall be conclusive upon the Holders of all Notes, whether theretofore or thereafter authenticated and delivered hereunder. The Trustee shall not be liable for any such determination made in good
faith. 
  
 It shall not be necessary for any Act of Noteholders under this Section to approve the particular form of
any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
  
 Promptly after the execution by the Issuer and the Trustee of any supplemental indenture pursuant to this Section, the Trustee shall mail to the Holders of the Notes to which such amendment or supplemental indenture relates a notice
setting forth in general terms the substance of such supplemental indenture. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.

  
 SECTION 9.3  Execution of Supplemental Indentures.    In executing,
or permitting the additional trusts created by, any supplemental indenture permitted by this Article IX or the amendments or modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, shall be fully
protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture that
affects the Trustee’s own rights, duties, liabilities or immunities under this Indenture or otherwise. 
  
 SECTION 9.4  Effect of Supplemental Indenture.    Upon the execution of any supplemental indenture pursuant to the provisions hereof, this Indenture shall be and be deemed to be modified
and amended in accordance therewith with respect to the Notes affected thereby, and the respective rights, limitations of rights, obligations, duties, liabilities and immunities under this Indenture of the Trustee, the Issuer and the Holders of the
Notes shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms
and conditions of this Indenture for any and all purposes. 
 

 55 

  
 SECTION 9.5  Conformity With Trust Indenture
Act.    Every amendment of this Indenture and every supplemental indenture executed pursuant to this Article IX shall conform to the requirements of the Trust Indenture Act as then in effect so long as this Indenture shall
then be qualified under the Trust Indenture Act. 
  
 SECTION 9.6  Reference in Notes to
Supplemental Indentures.    Notes authenticated and delivered after the execution of any supplemental indenture pursuant to this Article IX may, and if required by the Trustee shall, bear a notation in form approved by the
Trustee as to any matter provided for in such supplemental indenture. If the Issuer or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Trustee and the Issuer, to any such supplemental indenture may be
prepared and executed by the Issuer and authenticated and delivered by the Trustee in exchange for Outstanding Notes. 
  
 ARTICLE X 
  
 Redemption of Notes 
 SECTION 10.1  Redemption. 
  
 (a)    The Notes are subject to redemption in whole, but not in part, at the direction of the Servicer or the Seller pursuant to Section 10.1(a) of the Sale and Servicing Agreement, on any Distribution Date on
which the Servicer or Seller exercises its option to purchase the Trust Estate pursuant to said Section 10.1(a), for a purchase price equal to the Redemption Price; provided, however, that the Issuer has available funds sufficient to pay the
Redemption Price. The Servicer or the Issuer shall furnish the Security Insurer and the Rating Agencies notice of such redemption. If the Notes are to be redeemed pursuant to this Section 10.1(a), the Servicer or the Issuer shall furnish notice of
such election to the Trustee not later than 25 days prior to the Redemption Date and the Issuer shall deposit with the Trustee in the Note Distribution Account the Redemption Price of the Notes to be redeemed whereupon all such Notes shall be due
and payable on the Redemption Date upon the furnishing of a notice complying with Section 10.2 to each Holder of Notes. 
  
 (b)    In the event that the assets of the Trust are distributed pursuant to Section 8.1 of the Trust Agreement, all amounts on deposit in the Note Distribution Account shall be paid to the Noteholders up to the
Outstanding Amount of the Notes and all accrued and unpaid interest thereon. If amounts are to be paid to Noteholders pursuant to this Section 10.1(b), the Servicer or the Issuer shall, to the extent practicable, furnish notice of such event to the
Trustee not later than 45 days prior to the Redemption Date whereupon all such amounts shall be payable on the Redemption Date. 
  
 SECTION 10.2  Form of Redemption Notice. 
  
 (a)    Notice of redemption under Section 10.1(a) shall be given by the Trustee by facsimile or by first-class mail, postage prepaid, transmitted or mailed prior to the applicable Redemption Date to each Holder of
Notes, as of the close of business on the Record Date preceding the applicable Redemption Date, at such Holder’s address appearing in the Note Register. 
 

 56 

  
 All notices of redemption shall state: 
  
 (i)    the Redemption Date; 
  
 (ii)    the Redemption Price; 
  
 (iii)    that the Record Date otherwise applicable to such Redemption Date is not applicable and that payments shall be made only upon presentation and surrender of such Notes and
the place where such Notes are to be surrendered for payment of the Redemption Price (which shall be the office or agency of the Issuer to be maintained as provided in Section 3.2); and 
  
 (iv)    that interest on the Notes shall cease to accrue on the Redemption Date. 
  

Notice of redemption of the Notes shall be given by the Trustee in the name and at the expense of the Issuer. Failure to give notice of redemption, or any defect
therein, to any Holder of any Note shall not impair or affect the validity of the redemption of any other Note. 
  
 SECTION 10.3    Notes Payable on Redemption Date.    The Notes to be redeemed shall, following notice of redemption as required by Section 10.2 (in the case of redemption pursuant
to Section 10.1(a)), on the Redemption Date become due and payable at the Redemption Price and (unless the Issuer shall default in the payment of the Redemption Price) no interest shall accrue on the Redemption Price for any period after the date to
which accrued interest is calculated for purposes of calculating the Redemption Price. 
  
 ARTICLE XI 

 
 Miscellaneous 
  
 SECTION 11.1    Compliance Certificates and Opinions, etc.    Upon any application or request by the Issuer to the Trustee or the Trust Collateral Agent to take any
action under any provision of this Indenture, the Issuer shall furnish to the Trustee or the Trust Collateral Agent, as the case may be, and to the Security Insurer if the application or request is made to the Trust Collateral Agent (i) an
Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with, (ii) an Opinion of Counsel stating that in the opinion of such counsel all such
conditions precedent, if any, have been complied with and (iii) (if required by the TIA) an Independent Certificate from a firm of certified public accountants meeting the applicable requirements of this Section, except that, in the case of any such
application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture, no additional certificate or opinion need be furnished. 
  
 (a) Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include: 
  
 (i)    a statement that each signatory of such certificate or opinion has read or has caused to be
read such covenant or condition and the definitions herein relating thereto; 
 

 57 

  
 (ii)    a brief statement as to the nature
and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
  
 (iii)    a statement that, in the opinion of each such signatory, such signatory has made such examination or investigation as is necessary to enable such signatory to express an
informed opinion as to whether or not such covenant or condition has been complied with; and 
  
 (iv)    a statement as to whether, in the opinion of each such signatory such condition or covenant has been complied with. 
  
 (b) (i)    Prior to the deposit of any Collateral or other property or securities with the Trust Collateral Agent that is to be made the basis for the release of any property or
securities subject to the lien of this Indenture, the Issuer shall, in addition to any obligation imposed in Section 11.1(a) or elsewhere in this Indenture, furnish to the Trust Collateral Agent and the Security Insurer an Officer’s Certificate
certifying or stating the opinion of each person signing such certificate as to the fair value (within 90 days of such deposit) to the Issuer of the Collateral or other property or securities to be so deposited. 
  
 (ii)    Whenever the Issuer is required to furnish to the Trust Collateral Agent and the Security
Insurer an Officer’s Certificate certifying or stating the opinion of any signer thereof as to the matters described in clause (i) above, the Issuer shall also deliver to the Trust Collateral Agent and the Security Insurer an Independent
Certificate as to the same matters, if the fair value to the Issuer of the securities to be so deposited and of all other such securities made the basis of any such withdrawal or release since the commencement of the then-current fiscal year of the
Issuer, as set forth in the certificates delivered pursuant to clause (i) above and this clause (ii), is 10% or more of the Outstanding Amount of the Notes, but such a certificate need not be furnished with respect to any securities so deposited, if
the fair value thereof to the Issuer as set forth in the related Officer’s Certificate is less than $25,000 or less than 1% percent of the Outstanding Amount of the Notes. 
  
 (iii)    Other than with respect to the release of any Purchased Receivables or Liquidated Receivables, whenever any property or
securities are to be released from the lien of this Indenture, the Issuer shall also furnish to the Trust Collateral Agent and the Security Insurer an Officer’s Certificate certifying or stating the opinion of each person signing such
certificate as to the fair value (within 90 days of such release) of the property or securities proposed to be released and stating that in the opinion of such person the proposed release will not impair the security under this Indenture in
contravention of the provisions hereof. 
  
 (iv)    Whenever the Issuer is
required to furnish to the Trustee and the Security Insurer an Officer’s Certificate certifying or stating the opinion of any signer thereof as to the matters described in clause (iii) above, the Issuer shall also furnish to the Trust
Collateral Agent and the Security Insurer an Independent Certificate as to the same matters if the fair value of the property or securities and of all other property other than Purchased Receivables and Defaulted Receivables, or securities released
from the lien of
 
 

 58 

 
this Indenture since the commencement of the then current calendar year, as set forth in the certificates required by clause (iii) above and this clause (iv), equals 10% or more of the
Outstanding Amount of the Notes, but such certificate need not be furnished in the case of any release of property or securities if the fair value thereof as set forth in the related Officer’s Certificate is less than $25,000 or less than 1
percent of the then Outstanding Amount of the Notes. 
  
 (v)    Notwithstanding
Section 2.9 or any other provision of this Section, the Issuer may (A) collect, liquidate, sell or otherwise dispose of Receivables as and to the extent permitted or required by the Basic Documents and (B) make cash payments out of the Trust
Accounts as and to the extent permitted or required by the Basic Documents. 
  
 SECTION
11.2    Form of Documents Delivered to Trustee.    In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such
matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such
Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
  
 Any certificate or opinion of an Authorized Officer of the Issuer may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise
of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his or her certificate or opinion is based are erroneous. Any such certificate of an Authorized Officer or Opinion of Counsel
may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Servicer, the Seller or the Issuer, stating that the information with respect to such factual matters is
in the possession of the Servicer, the Seller or the Issuer, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

 
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements,
opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
  
 Whenever in this Indenture, in connection with any application or certificate or report to the Trustee, it is provided that the Issuer shall deliver any document as a condition of the granting of such application, or as evidence of
the Issuer’s compliance with any term hereof, it is intended that the truth and accuracy, at the time of the granting of such application or at the effective date of such certificate or report (as the case may be), of the facts and opinions
stated in such document shall in such case be conditions precedent to the right of the Issuer to have such application granted or to the sufficiency of such certificate or report. The foregoing shall not, however, be construed to affect the
Trustee’s right to rely upon the truth and accuracy of any statement or opinion contained in any such document as provided in Article VI. 
  
 SECTION 11.3    Acts of Noteholders. 
 

 59 

  
 (a)    Any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be given or taken by Noteholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Noteholders in person or by agents duly
appointed in writing; and except as herein otherwise expressly provided such action shall become effective when such instrument or instruments are delivered to the Trustee, and, where it is hereby expressly required, to the Issuer. Such instrument
or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Noteholders signing such instrument or instruments. Proof of execution of any such instrument or of a
writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 6.1) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section. In the event the Trustee shall
receive conflicting or inconsistent requests and indemnity from two or more groups of Noteholders, each representing less than a majority of the Outstanding Amount of the Notes, the Trustee in its sole discretion may determine what action, if any,
shall be taken, notwithstanding any other provisions of this Indenture. 
  
 (b)    The fact and
date of the execution by any person of any such instrument or writing may be proved in any customary manner of the Trustee. 
  
 (c)    The ownership of Notes shall be proved by the Note Register. 
  
 (d)    Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Notes shall bind the Holder of every Note issued upon the registration thereof or in exchange
therefor or in lieu thereof, in respect of anything done, omitted or suffered to be done by the Trustee or the Issuer in reliance thereon, whether or not notation of such action is made upon such Note. 
  
 SECTION 11.4    Notices, etc., to Trustee, Issuer and Rating Agencies.    Any request,
demand, authorization, direction, notice, consent, waiver or Act of Noteholders or other documents provided or permitted by this Indenture to be made upon, given or furnished to or filed with: 
  

(a)    The Trustee by any Noteholder or by the Issuer shall be sufficient for every purpose hereunder if personally delivered, delivered by
overnight courier or mailed certified mail, return receipt requested and shall be deemed to have been duly given upon receipt to the Trustee at its Corporate Trust Office, or 
  
 (b)    The Issuer by the Trustee or by any Noteholder shall be sufficient for every purpose hereunder if personally delivered, delivered by overnight
courier or mailed certified mail, return receipt requested and shall deemed to have been duly given upon receipt to the Issuer addressed to: AmeriCredit Automobile Receivables Trust 2002-D, in care of Deutsche Bank Trust Company Delaware, E.A. Delle
Donne Corporate Center, Montgomery Building, 1011 Centre Road, Suite 200, Wilmington, Delaware 19805, with a copy to Deutsche Bank Trust Company Americas, 4 Albany Street, New York, New York 10006, Attention: Corporate Trust Administration, or at
any other address previously furnished in writing to the Trustee by Issuer. The Issuer shall promptly transmit any notice received by it from the Noteholders to the Trustee. 
 

 60 

  
 (c)    The Security Insurer by the Issuer or the Trustee
shall be sufficient for any purpose hereunder if in writing and mailed by registered mail or personally delivered or telexed or telecopied to the recipient as follows: 
  
 
	 To the Security Insurer:
 	 	 Financial Security Assurance Inc.
 
	  	 	 350 Park Avenue
 
	  	 	 New York, NY 10022
 
	  	 	 Attention: Transaction Oversight Department
 
	  	 	  
 Telex No.: (212) 688-3101
 
	  	 	 Confirmation: (212) 826-0100
 
	  	 	 Telecopy Nos.: (212) 339-3518 or
 
	  	 	 (212) 339-3529
 

 
  
 (In each case in which notice or other communication to the
Security Insurer refers to an Event of Default, a claim on the Note Policy or with respect to which failure on the part of the Security Insurer to respond shall be deemed to constitute consent or acceptance, then a copy of such notice or other
communication should also be sent to the attention of the General Counsel and the Head—Financial Guaranty Group “URGENT MATERIAL ENCLOSED.”) 
  
 Notices required to be given to the Rating Agencies by the Issuer, the Trustee or the Owner Trustee shall be in writing, personally delivered, delivered by overnight
courier or mailed certified mail, return receipt requested to (i) in the case of Moody’s, at the following address: Moody’s Investors Service, Inc., 99 Church Street, New York, New York 10007, (ii) in the case of Standard &
Poor’s, at the following address: Standard & Poor’s, A Division of The McGraw-Hill Companies, Inc., 55 Water Street, 40th Floor, New York, New York 10041, Attention of Asset Backed Surveillance Department and (iii) in the case of Fitch, at the following address: Fitch Ratings, One State Street Plaza, New York, New York 10004; or as
to each of the foregoing, at such other address as shall be designated by written notice to the other parties. 
  
 SECTION 11.5    Notices to Noteholders; Waiver.    Where this Indenture provides for notice to Noteholders of any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class, postage prepaid to each Noteholder affected by such event, at his address as it appears on the Note Register, not later than the latest date, and not earlier than the earliest date,
prescribed for the giving of such notice. In any case where notice to Noteholders is given by mail, neither the failure to mail such notice nor any defect in any notice so mailed to any particular Noteholder shall affect the sufficiency of such
notice with respect to other Noteholders, and any notice that is mailed in the manner here in provided shall conclusively be presumed to have been duly given. 
  
 Where this Indenture provides for notice in any manner, such notice may be waived in writing by any Person entitled to receive such notice, either before or after the event, and such waiver shall be
the equivalent of such notice. Waivers of notice by Noteholders shall be filed with the Trustee but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such a waiver. 
 

 61 

  
 In case, by reason of the suspension of regular mail service as a result of a
strike, work stoppage or similar activity, it shall be impractical to mail notice of any event to Noteholders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be
satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice. 
  
 Where this Indenture
provides for notice to the Rating Agencies, failure to give such notice shall not affect any other rights or obligations created hereunder, and shall not under any circumstance constitute a Default or Event of Default. 
  
 SECTION 11.6    [Reserved] 
  
 SECTION 11.7    Conflict with Trust Indenture Act.    If any provision hereof limits, qualifies or conflicts with another
provision hereof that is required to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. 
  
 The provisions of TIA §§ 310 through 317 that impose duties on any person (including the provisions automatically deemed included herein unless expressly excluded by this Indenture) are a
part of and govern this Indenture, whether or not physically contained herein. 
  
 SECTION
11.8    Effect of Headings and Table of Contents.    The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof.

  
 SECTION 11.9    Successors and Assigns.    All covenants and
agreements in this Indenture and the Notes by the Issuer shall bind its successors and assigns, whether so expressed or not. All agreements of the Trustee in this Indenture shall bind its successors. All agreements of the Trust Collateral Agent in
this Indenture shall bind its successors. 
  
 SECTION
11.10    Separability.    In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall
not in any way be affected or impaired thereby. 
  
 SECTION 11.11    Benefits of
Indenture.    The Security Insurer and its successors and assigns shall be a third-party beneficiary to the provisions of this Indenture, and shall be entitled to rely upon and directly to enforce such provisions of this
Indenture so long as no Insurer Default shall have occurred and be continuing. Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, and the
Noteholders, and any other party secured hereunder, and any other person with an Ownership interest in any part of the Trust Estate, any benefit or any legal or equitable right, remedy or claim under this Indenture. The Security Insurer may disclaim
any of its rights and powers under this Indenture (in which case the Trustee may exercise such right or power hereunder), but not its duties and obligations under the Note Policy, upon delivery of a written notice to the Trustee. 

 62 

  
 In exercising any of its voting rights, rights to direct or consent or any other
rights as the Security Insurer under this Indenture or any other Basic Document, subject to the terms and conditions of this Indenture, the Security Insurer shall not have any obligation or duty to any Person to consider or take into account the
interests of any Person and shall not be liable to any Person for any action taken by it or at its discretion or any failure by it to act or to direct that any action be taken, without regard to whether such inaction or action benefits or adversely
affects any Noteholder, the Issuer or any other Person. 
  
 SECTION 11.12    Legal
Holidays.    In any case where the date on which any payment is due shall not be a Business Day, then (notwithstanding any other provision of the Notes or this Indenture) payment need not be made on such date, but may be made
on the next succeeding Business Day with the same force and effect as if made on the date an which nominally due, and no interest shall accrue for the period from and after any such nominal date. 
  

SECTION 11.13    GOVERNING LAW.    THIS INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE
STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
  
 SECTION 11.14    Counterparts.    This Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument. 
  
 SECTION
11.15    Recording of Indenture.    If this Indenture is subject to recording in any appropriate public recording offices, such recording is to be effected by the Issuer and at its expense accompanied
by an Opinion of Counsel (which may be counsel to the Trustee or any other counsel reasonably acceptable to the Trustee and the Security Insurer) to the effect that such recording is necessary either for the protection of the Noteholders or any
other person secured hereunder or for the enforcement of any right or remedy granted to the Trustee or the Trust Collateral Agent under this Indenture or the Collateral Agent under the Spread Account Agreement. 
  
 SECTION 11.16    Trust Obligation.    No recourse may be taken, directly or indirectly,
with respect to the obligations of the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee on the Notes or under this Indenture, any other Basic Document or any certificate or other writing delivered in
connection herewith or therewith, against (i) the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner,
beneficiary, agent, officer, director, employee or agent of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the
Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may
have expressly agreed (it being understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the
extent provided by applicable law,
 
 

 63 

 
for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any
duties or obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI, VII and VIII of the Trust Agreement. 
  

SECTION 11.17    No Petition.    The Trustee and the Trust Collateral Agent, by entering into this Indenture, and each
Noteholder, by accepting a Note, hereby covenant and agree that they will not at any time institute against the Seller, or the Issuer, or join in any institution against the Seller, or the Issuer of, any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings, or other proceedings under any United States federal or State bankruptcy or similar law in connection with any obligations relating to the Notes, this Indenture or any of the Basic Documents. 

 
 SECTION 11.18    Inspection.    The Issuer agrees that, on reasonable prior
notice, it will permit any representative of the Trustee or of the Security Insurer, during the Issuer’s normal business hours, to examine all the books of account, records, reports, and other papers of the Issuer, to make copies and extracts
therefrom, to cause such books to be audited by independent certified public accountants, and to discuss the Issuer’s affairs, finances and accounts with the Issuer’s officers, employees, and independent certified public accountants, all
at such reasonable times and as often as may be reasonably requested. Notwithstanding anything herein to the contrary, the foregoing shall not be construed to prohibit (i) disclosure of any and all information that is or becomes publicly known, (ii)
disclosure of any and all information (A) if required to do so by any applicable statute, law, rule or regulation, (B) to any government agency or regulatory body having or claiming authority to regulate or oversee any respects of the Trustee’s
business or that of its affiliates, (C) pursuant to any subpoena, civil investigative demand or similar demand or request of any court, regulatory authority, arbitrator or arbitration to which the Trustee or an affiliate or an officer, director,
employer or shareholder thereof is a party, (D) in any preliminary or final offering circular, registration statement or contract or other document pertaining to the transactions contemplated by the Indenture approved in advance by the Servicer or
the Issuer or (E) to any independent or internal auditor, agent, employee or attorney of the Trustee having a need to know the same, provided that the Trustee advises such recipient of the confidential nature of the information being disclosed, or
(iii) any other disclosure authorized by the Servicer or the Issuer. 
  
 [SIGNATURE PAGE FOLLOWS] 
 

 64 

  
 IN WITNESS WHEREOF, the Issuer and the Trustee have caused this Indenture to be
duly executed by their respective officers, hereunto duly authorized, all as of the day and year first above written. 
  
 
	 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D,
 
	 
	 By:
 	 	 DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee
 
	  
 By:
 	 	  
 /s/ LOUIS BODI
 

	  	 	 Name: Louis Bodi
 Title: Vice President
 
	  	 	  
 JPMORGAN CHASE BANK, not in its individual capacity but solely as Trustee and Trust Collateral
Agent
 
	  
 By:
 	 	  
 /s/ RYAN BIASI
 

	  	 	 Name: Ryan Biasi
 Title: Trust Officer
 

 
  
 [Indenture] 
  
 

 1 

  
 EXHIBIT A-1 
  

	REGISTERED 
 	$111,000,000 
 

 
 No.
RB-A-1 
  
 SEE REVERSE FOR CERTAIN DEFINITIONS 
  
 CUSIP NO. 03061N FM6 
  
 Unless this Note is
presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name
of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

  
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D 
  
 CLASS A-1 1.755% ASSET BACKED NOTE 
  
 AmeriCredit Automobile Receivables Trust 2002-D, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to
CEDE & CO., or registered assigns, the principal sum of ONE HUNDRED AND ELEVEN MILLION DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $111,000,000 and
the denominator of which is $111,000,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account in respect of principal on the Class A-1 Notes pursuant to the Indenture; provided, however, that the entire
unpaid principal amount of this Note shall be due and payable on October 6, 2003 Insured Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on
each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such
Distribution Date or, if no interest has yet been paid, from September 12, 2002. Interest will be computed on the basis of a 360-day year and the actual number of days in the related Interest Period. Such principal of and interest on this Note shall
be paid in the manner specified on the reverse hereof. 
  
 The principal of and interest on this Note are payable in
such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and 
 

 A-1-1 

 
private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
  
 The Notes are entitled to the benefits of a financial guaranty insurance policy (the “Note
Policy”) issued by Financial Security Assurance Inc. (the “Security Insurer”), pursuant to which the Security Insurer has unconditionally guaranteed payments of the Noteholders’ Interest Distributable Amount and the
Noteholders’ Principal Distributable Amount with respect to each Distribution Date will be paid on or prior to the related Insured Distribution Date, all as more fully set forth in the Indenture and the related Sale and Servicing Agreement. The
Record Date applicable to any Insured Distribution Date is the Record Date applicable to the related Distribution Date. 
  
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note. 
  
 Unless the certificate of authentication hereon has been executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any
benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 
 

 A-1-2 

  
 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually
or in facsimile, by its Authorized Officer as of the date set forth below. 
  
 
	 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D
 
	 
	 By:
 	 	 DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee under the Trust
Agreement        
 

 
  
 
	 
	 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 

 
  
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

 
 This is one of the Notes designated above and referred to in the within-mentioned Indenture. 
  
 Date: September 12, 2002 
  
 
	 JPMORGAN CHASE BANK, not in its individual capacity but solely as Trustee
 
	 
	 By:
 	 	 

	  	 	 Authorized Signer
 

 
 

 A-1-3 

  
 [REVERSE OF NOTE] 
  
 This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-1 1.755% Asset Backed Notes (herein called the “Class A-1
Notes”), all issued under an Indenture dated as of September 5, 2002 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and JPMorgan Chase Bank, as trustee (the
“Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which
Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the
Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 
  
 The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes (together, the “Notes”) are and
will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. 
  
 Principal of the Class A-1 Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the sixth day of each month, or, if any such date is not a Business Day,
the next succeeding Business Day, commencing October 7, 2002. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 
  
 As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption
Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall
be due and payable (i) on the date on which an Event of Default shall have occurred and be continuing so long as an Insurer Default shall not have occurred and be continuing or (ii) if an Insurer Default shall have occurred and be continuing, on the
date on which an Event of Default shall have occurred and be continuing and the Trustee or the Holders of the Notes representing at least 66-2/3% of the Outstanding Amount of the Notes have declared the Notes to be immediately due and payable in the
manner provided in the Indenture. All principal payments on the Class A-1 Notes shall be made pro rata to the Class A-1 Noteholders entitled thereto. 
  
 Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check
mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name
of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled
thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any 

 A-1-4 

 one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and
of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid
principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to
such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such
purposes located in New York, New York. 
  
 The Issuer shall pay interest on overdue installments of interest at the
Class A-1 Interest Rate to the extent lawful. 
  
 As provided in the Indenture and subject to certain limitations set
forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the
requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the
Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in
the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
  
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be taken, directly or indirectly, with respect to the
obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the Servicer, the General Partner, the Trustee or the
Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the General Partner, the Trustee or the Owner
Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the General Partner, the Owner Trustee or the Trustee or of any successor or assign of the Seller, the Servicer, the General Partner,
the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such obligations in their individual capacity) and except that any
such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat
the Notes as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes. 
 

 A-1-5 

  
 Prior to the due presentment for registration of transfer of this Note, the
Issuer, the Trustee and the Security Insurer and any agent of the Issuer, the Trustee or the Security Insurer may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture)
is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of
the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Security Insurer and of the Noteholders representing a majority of the Outstanding Amount of all Notes at the time Outstanding. The Indenture also
contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms
and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
  
 The term
“Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 
  
 The
Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture. 
  
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
  
 This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of
law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 
  
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of
and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 
  
 Anything
herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Deutsche Bank Trust Company Delaware in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their
respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or
omission to perform, any of the covenants, obligations or 
 

 A-1-6 

 indemnifications contained in this Note or the Indenture, it being expressly understood that said covenants, obligations and indemnifications
have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the Indenture or the
Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be
taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 
 

 A-1-7 

  
 ASSIGNMENT 
  
 Social Security or taxpayer I.D. or other identifying number of assignee 
  
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 
  
  
 
(name and address of assignee) 
  
 the within Note and all
rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. 
  

	  	 	  	 	  	 	  
	 
	  
 Dated
 	 	 1
 
	 	  	 	  	 	  
  
 

 
	  	 	  	 	  	 	  	 	 Signature Guaranteed:
 	 	  
	  	 	 
	 	  	 	  	 	  
  
 

 
  
  
  
 
1 NOTE: The signature to
this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever. 
 

 A-1-8 

 EXHIBIT A-2 
  

	REGISTERED 
 	$153,000,000 
 

 
 No. RB-A-2 
  
 SEE REVERSE FOR CERTAIN DEFINITIONS 
  
 CUSIP NO. 03061N FN4 
  
 Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any
Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative
of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE
AMOUNT SHOWN ON THE FACE HEREOF. 
  
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D 
  
 CLASS A-2 2.04% ASSET BACKED NOTE 
  
 AmeriCredit Automobile Receivables Trust 2002-D, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value
received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of ONE HUNDRED AND FIFTY-THREE MILLION DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the
numerator of which is $153,000,000 and the denominator of which is $153,000,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account in respect of principal on the Class A-2 Notes pursuant to the Indenture; provided,
however, that the entire unpaid principal amount of this Note shall be due and payable on October 12, 2005 Insured Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the
rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has
been paid to but excluding such Distribution Date or, if no interest has yet been paid, from September 12, 2002. Interest will be computed on the basis of a 360 day year consisting of twelve 30-day months. Such principal of and interest on this Note
shall be paid in the manner specified on the reverse hereof. 
  
 The principal of and interest on this Note are
payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and 
 

 A-2-1 

 private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as
provided above and then to the unpaid principal of this Note. 
  
 The Notes are entitled to the benefits of a
financial guaranty insurance policy (the “Note Policy”) issued by Financial Security Assurance Inc. (the “Security Insurer”), pursuant to which the Security Insurer has unconditionally guaranteed payments of the
Noteholders’ Interest Distributable Amount and the Noteholders’ Principal Distributable Amount with respect to each Distribution Date will be paid on or prior to the related Insured Distribution Date, all as more fully set forth in the
Indenture and the related Sale and Servicing Agreement. The Record Date applicable to any Insured Distribution Date is the Record Date applicable to the related Distribution Date. 
  
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this
Note. 
  
 Unless the certificate of authentication hereon has been executed by the Trustee whose name appears below
by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 
 

 A-2-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by its Authorized
Officer as of the date set forth below. 
  
 
	 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D
 
	 
	 By:
 	 	 DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
 
	 
	 By:
 	 	  
	 	
	

	  	 	 Name:
 Title:
 

 
  
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

 
 This is one of the Notes designated above and referred to in the within-mentioned Indenture. 
  
 Date: September 12, 2002 
  
 
	 JPMORGAN CHASE BANK, not in its individual capacity but solely as Trustee
 
	 
	 By:
 	 	  
	 	
	

	  	 	 Authorized Signer
 

 
 

 A-2-3 

  
 [REVERSE OF NOTE] 
  
 This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-2 2.04% Asset Backed Notes (herein called the “Class A-2
Notes”), all issued under an Indenture dated as of September 5, 2002 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and JPMorgan Chase Bank, as trustee (the
“Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture
and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All
terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 
  

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes (together, the “Notes”) are and will be equally and ratably
secured by the collateral pledged as security therefor as provided in the Indenture. 
  
 Principal of the Class A-2
Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the sixth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day,
commencing October 7, 2002. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 
  
 As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the
Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable (i) on the
date on which an Event of Default shall have occurred and be continuing so long as an Insurer Default shall not have occurred and be continuing or (ii) if an Insurer Default shall have occurred and be continuing, on the date on which an Event of
Default shall have occurred and be continuing and the Trustee or the Holders of the Notes representing at least 66-2/3% of the Outstanding Amount of the Notes have declared the Notes to be immediately due and payable in the manner provided in the
Indenture. All principal payments on the Class A-2 Notes shall be made pro rata to the Class A-2 Noteholders entitled thereto. 
  
 Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name
appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing
Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such
Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any 
 

 A-2-4 

  
 one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding
upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for
payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such
Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the
Trustee’s agent appointed for such purposes located in New York, New York. 
  
 The Issuer shall pay interest on
overdue installments of interest at the Class A-2 Interest Rate to the extent lawful. 
  
 As provided in the
Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to
the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an
“eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or
more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
  
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be
taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the
Servicer, the General Partner, the Trustee or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the
Servicer, the General Partner, the Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the General Partner, the Owner Trustee or the Trustee or of any successor or
assign of the Seller, the Servicer, the General Partner, the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such
obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay
any installment or call owing to such entity, and (ii) to treat the Notes as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes. 
 

 A-2-5 

  
 Prior to the due presentment for registration of transfer of this Note, the
Issuer, the Trustee and the Security Insurer and any agent of the Issuer, the Trustee or the Security Insurer may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture)
is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of
the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Security Insurer and of the Noteholders representing a majority of the Outstanding Amount of all Notes at the time Outstanding. The Indenture also
contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms
and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
  
 The term
“Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 
  
 The
Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture. 
  
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
  
 This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of
law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 
  
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of
and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 
  
 Anything
herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Deutsche Bank Trust Company Delaware in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their
respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or
omission to perform, any of the covenants, obligations or 
 

 A-2-6 

  
 indemnifications contained in this Note or the Indenture, it being expressly understood that said
covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as
expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however,
that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 
 

 A-2-7 

  
 ASSIGNMENT 
  
 Social Security or taxpayer I.D. or other identifying number of assignee 
  
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                        
                         
 (name and address of
assignee) 
  
 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on
the books kept for registration thereof, with full power of substitution in the premises. 
  
 
	 Dated
 	 	  	 	 [1]
 	  	  
	 	
	
	 	 	
	

	  	 	  	 	  	  	 Signature Guaranteed:
 
	  	 	  	 	  	  	  
	  	 	  	 	  	  	  
	
	
	
	 	 	
	

 
  
  
 

	[1]
	 
	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular,
without alteration, enlargement or any change whatsoever. 
 

 

 A-2-8 

  
 EXHIBIT A-3 
  

	REGISTERED              
 	$194,000,000 
 

 
 No. RB-A-3 

 
 SEE REVERSE FOR CERTAIN DEFINITIONS 
  
 CUSIP NO. 03061N FP9 
  
 Unless this Note is presented by an
authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co.
or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
  
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D 
  
 CLASS A-3 2.72%ASSET BACKED NOTE 
  
 AmeriCredit Automobile
Receivables Trust 2002-D, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns,
the principal sum of ONE HUNDRED AND NINETY-FOUR MILLION DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $194,000,000 and the denominator of which is
$194,000,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account in respect of principal on the Class A-3 Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note
shall be due and payable on April 12, 2007 Insured Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the
principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no
interest has yet been paid, from September 12, 2002. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse
hereof. 
  
 The principal of and interest on this Note are payable in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and 
 

  
 private debts. All payments made by the Issuer with respect to this Note shall be applied first to
interest due and payable on this Note as provided above and then to the unpaid principal of this Note. 
  
 The Notes
are entitled to the benefits of a financial guaranty insurance policy (the “Note Policy”) issued by Financial Security Assurance Inc. (the “Security Insurer”), pursuant to which the Security Insurer has
unconditionally guaranteed payments of the Noteholders’ Interest Distributable Amount and the Noteholders’ Principal Distributable Amount with respect to each Distribution Date will be paid on or prior to the related Insured Distribution
Date, all as more fully set forth in the Indenture and the related Sale and Servicing Agreement. The Record Date applicable to any Insured Distribution Date is the Record Date applicable to the related Distribution Date. 
  
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Note. 
  
 Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 
  
 

 A-3-2 

  
 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually
or in facsimile, by its Authorized Officer as of the date set forth below. 
  
 
	 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D
 
	  	 	  
	 By:
 	 	 DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
 
	  	 	  
	 By:
 	 	  
	 	
	

	  	 	 Name:
 
	  	 	 Title:
 

 
  
  
  
  
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
  
 This is one
of the Notes designated above and referred to in the within-mentioned Indenture. 
  
 Date: September 12, 2002 
 
	 JPMORGAN CHASE BANK, not in its individual capacity but solely as Trustee
 
	 
	  	 	  
	 By:
 	 	  
	 	
	

	  	 	 Authorized Signer
 

 
  
  

	

  
 

 A-3-3 

  
 [REVERSE OF NOTE] 
  
 This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-3 2.72% Asset Backed Notes (herein called the “Class A-3
Notes”), all issued under an Indenture dated as of September 5, 2002 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and JPMorgan Chase Bank, as trustee (the
“Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture
and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All
terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 
  

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes (together, the “Notes”) are and will be equally and ratably
secured by the collateral pledged as security therefor as provided in the Indenture. 
  
 Principal of the Class A-3
Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the sixth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing
October 7, 2002. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 
  
 As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a
portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable (i) on the date on which an Event of
Default shall have occurred and be continuing so long as an Insurer Default shall not have occurred and be continuing or (ii) if an Insurer Default shall have occurred and be continuing, on the date on which an Event of Default shall have occurred
and be continuing and the Trustee or the Holders of the Notes representing at least 66-2/3% of the Outstanding Amount of the Notes have declared the Notes to be immediately due and payable in the manner provided in the Indenture. All principal
payments on the Class A-3 Notes shall be made pro rata to the Class A-3 Noteholders entitled thereto. 
  
 Payments of
interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this
Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee
to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the
Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any 
 

 A-3-4 

  
 one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding
upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for
payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such
Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the
Trustee’s agent appointed for such purposes located in New York, New York. 
  
 The Issuer shall pay interest on
overdue installments of interest at the Class A-3 Interest Rate to the extent lawful. 
  
 As provided in the
Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to
the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an
“eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or
more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
  
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be
taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the
Servicer, the General Partner, the Trustee or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the
Servicer, the General Partner, the Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the General Partner, the Owner Trustee or the Trustee or of any successor or
assign of the Seller, the Servicer, the General Partner, the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such
obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay
any installment or call owing to such entity, and (ii) to treat the Notes as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes. 
 

 A-3-5 

  
 Prior to the due presentment for registration of transfer of this Note, the
Issuer, the Trustee and the Security Insurer and any agent of the Issuer, the Trustee or the Security Insurer may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture)
is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of
the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Security Insurer and of the Noteholders representing a majority of the Outstanding Amount of all Notes at the time Outstanding. The Indenture also
contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms
and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
  
 The term
“Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 
  
 The
Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture. 
  
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
  
 This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of
law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 
  
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of
and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 
  
 Anything
herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Deutsche Bank Trust Company Delaware in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their
respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or
omission to perform, any of the covenants, obligations or 
 

 A-3-6 

  
 indemnifications contained in this Note or the Indenture, it being expressly understood that said
covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as
expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however,
that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 
 

 A-3-7 

  
 ASSIGNMENT 
  
 Social Security or taxpayer I.D. or other identifying number of assignee 
  
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                        
                     
 (name and address of assignee) 

 
 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises. 
  
 
	 Dated
 	 	  	 	 1
 	  	  
	 	
	
	 	 	
	

	  	 	  	 	  	  	 Signature Guaranteed:
 
	  	 	  	 	  	  	  
	  	 	  	 	  	  	  
	
	
	
	 	 	
	

 
  
 

	1
	 
	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular,
without alteration, enlargement or any change whatsoever. 
 

 

 A-3-8 

  
 EXHIBIT A-4 
  

	REGISTERED              
 	$142,000,000 
 

 
 No. RB-A-4 

 
 SEE REVERSE FOR CERTAIN DEFINITIONS 
  
 CUSIP NO. 03061N FQ7 
  
 Unless this Note is presented by an
authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co.
or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
  
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D 
  
 CLASS A-4 3.40% ASSET BACKED NOTE 
  
 AmeriCredit Automobile
Receivables Trust 2002-D, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns,
the principal sum of ONE HUNDRED AND FORTY-TWO MILLION DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $142,000,000 and the denominator of which is
$142,000,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account in respect of principal on the Class A-4 Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note
shall be due and payable on April 13, 2009 Insured Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the per annum shown above on each Distribution Date until the principal of
this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet
been paid, from September 12, 2002. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

 
 The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time
of payment is legal tender for payment of public and 
 

  
 private debts. All payments made by the Issuer with respect to this Note shall be applied first to
interest due and payable on this Note as provided above and then to the unpaid principal of this Note. 
  
 The Notes
are entitled to the benefits of a financial guaranty insurance policy (the “Note Policy”) issued by Financial Security Assurance Inc. (the “Security Insurer”), pursuant to which the Security Insurer has
unconditionally guaranteed payments of the Noteholders’ Interest Distributable Amount and the Noteholders’ Principal Distributable Amount with respect to each Distribution Date will be paid on or prior to the related Insured Distribution
Date, all as more fully set forth in the Indenture and the related Sale and Servicing Agreement. The Record Date applicable to any Insured Distribution Date is the Record Date applicable to the related Distribution Date. 
  
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Note. 
  
 Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 
  
 

 A-4-2 

  
 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually
or in facsimile, by its Authorized Officer as of the date set forth below. 
  
 
	 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D
 
	  	 	  
	 By:
 	 	 DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
 
	  	 	  
	 By:
 	 	  
	 	
	

	  	 	 Name:
 
	  	 	 Title:
 

 
  
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

 
 This is one of the Notes designated above and referred to in the within-mentioned Indenture. 
  
 Date: September 12, 2002 
 
	 JPMORGAN CHASE BANK, not in its individual capacity but solely as Trustee
 
	 
	  	 	  
	 By:
 	 	  
	 	
	

	  	 	 Authorized Signer
 

 
  
 

 A-4-3 

  
 [REVERSE OF NOTE] 
  
 This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-4 3.40% Asset Backed Notes (herein called the “Class A-4
Notes”), all issued under an Indenture dated as of September 5, 2002 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and JPMorgan Chase Bank, as trustee (the
“Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture
and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All
terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 
  

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes (together, the “Notes”) are and will be equally and ratably
secured by the collateral pledged as security therefor as provided in the Indenture. 
  
 Principal of the Class A-4
Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the sixth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing
October 7, 2002. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 
  
 As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a
portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable (i) on the date on which an Event of
Default shall have occurred and be continuing so long as an Insurer Default shall not have occurred and be continuing or (ii) if an Insurer Default shall have occurred and be continuing, on the date on which an Event of Default shall have occurred
and be continuing and the Trustee or the Holders of the Notes representing at least 66-2/3% of the Outstanding Amount of the Notes have declared the Notes to be immediately due and payable in the manner provided in the Indenture. All principal
payments on the Class A-4 Notes shall be made pro rata to the Class A-4 Noteholders entitled thereto. 
  
 Payments of
interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this
Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee
to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the
Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any 
 

 A-4-4 

  
 one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding
upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for
payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such
Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the
Trustee’s agent appointed for such purposes located in New York, New York. 
  
 The Issuer shall pay interest on
overdue installments of interest at the Class A-4 Interest Rate to the extent lawful. 
  
 As provided in the
Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to
the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an
“eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or
more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
  
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be
taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the
Servicer, the General Partner, the Trustee or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the
Servicer, the General Partner, the Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the General Partner, the Owner Trustee or the Trustee or of any successor or
assign of the Seller, the Servicer, the General Partner, the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such
obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay
any installment or call owing to such entity, and (ii) to treat the Notes as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes. 
 

 A-4-5 

  
 Prior to the due presentment for registration of transfer of this Note, the
Issuer, the Trustee and the Security Insurer and any agent of the Issuer, the Trustee or the Security Insurer may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture)
is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of
the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Security Insurer and of the Noteholders representing a majority of the Outstanding Amount of all Notes at the time Outstanding. The Indenture also
contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms
and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
  
 The term
“Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 
  
 The
Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture. 
  
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
  
 This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of
law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 
  
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of
and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 
  
 Anything
herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Deutsche Bank Trust Company Delaware in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their
respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or
omission to perform, any of the covenants, obligations or 
 

 A-4-6 

  
 indemnifications contained in this Note or the Indenture, it being expressly understood that said
covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as
expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however,
that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 
 

 A-4-7 

  
 ASSIGNMENT 
  
 Social Security or taxpayer I.D. or other identifying number of assignee 
  
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto                                       
                      
 (name and address of assignee) 

 
 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises. 
  
 
	 Dated
 	 	  	 	 1
 	  	  
	 	
	
	 	 	
	

	  	 	  	 	  	  	 Signature Guaranteed:
 
	  	 	  	 	  	  	  
	  	 	  	 	  	  	  
	
	
	
	 	 	
	

 
 

	1
	 
	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular,
without alteration, enlargement or any change whatsoever. 
 

 

 A-4-8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}]]