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] ] . 7 6 Time of the Essence; Calculation of Time Periods. Time is of the essence for <br />each condition, term, obligation and provision of this Agreement_ Unless otherwise specified, in <br />computing any period of time described in this Agreement, the day of the act or event after <br />which the designated period of time begins to run is not to be included and the last day of the <br />period so computed is to be included, unless such last day is not a business day, in which event <br />the period shall run until the next business day. The final day of any such period shall be <br />deemed to end at 5:00 p.m., local time at the Property. For purposes of this Agreement, a <br />"business day" means a day that is not a Saturday, Sunday, a federal holiday or a state holiday <br />under the laws of California. <br />1 l .17 Governing Law; Venue. This Agreement shall be governed by and construed in <br />accordance with the laws of the State of California without regard to principles of conflicts of <br />laws_ Any action to enforce or interpret this Agreement shall be filed in the Superior Court of <br />Alameda County, California or in the Federal District Court for the Northern District of <br />California. <br />SIGNATURES ON FOLLOWING PAGE. <br />> > ~sys~-s 3 8 <br />