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10 restaurant, which the Developer may sublease to an independent third-party operator, subject to the requirements of the Developer Hotel Ground Lease. Subject to the satisfaction (or waiver by the benefitted party or parties) of the Conditions Precedent to Commencement of Developer Hotel Ground Lease set forth below, City shall enter into a ground lease with the Developer, whereby the City shall lease the Developer Hotel Parcel to the Developer, which ground lease shall be substantially in the form of Exhibit M attached hereto (the “Developer Hotel Ground Lease”). The Developer Hotel Parcel shall be delivered in an “as is” condition, which includes an existing restaurant building, parking lot, landscaping, a service building, and other ancillary site elements. Developer further acknowledges and accepts the current condition of any existing or buried utilities that serve the Developer Hotel Parcel with no express or implied warranty by City of their suitability for the Developer Hotel Element; provided, however, that City shall promptly disclose to Developer all information actually known to the City and all documentation available in a reasonably diligent search of City’s files and records with regard to any such existing or buried utilities that serve the Developer Hotel Parcel. The Developer anticipates that it will sublease the Developer Hotel Parcel to an affiliate of Developer. Any such sublease shall be made in compliance with Article 7 of this Agreement and Section 13 of the Developer Hotel Ground Lease. Developer agrees that an easement shall be recorded on the Developer Hotel Parcel allowing the public to use certain designated parking spaces located adjacent to the Park Parcel, with rights of ingress and egress thereto provided to users and customers of the Developer Restaurant Element and the Market Element to utilize parking on the Developer Hotel Parcel, and to provide for joint access between the parcels. The days and hours of public use of such designated parking spaces shall be as determined by the mutual agreement of City and Developer. The term of the existing lease for the El Torito restaurant occupying the building on the Developer Hotel Parcel is currently on a month-to-month basis (the “Existing Restaurant Lease”). The City has the right under the Existing Restaurant Lease to terminate the lease upon at least thirty (30) days’ notice to the tenant. Developer shall give at least sixty (60) days’ notice to City of Developer’s intended date for signing and commencement of the Developer Hotel Ground Lease in order to provide City sufficient time for termination of the Existing Restaurant Lease and relocation of the existing tenant. City shall be responsible for determining and providing any relocation assistance required under applicable law to be provided to the tenant of the Existing Restaurant Lease, if any is so required. 1.4.3.1 Conditions for Benefit of the City. City’s obligation to execute the Developer Hotel Ground Lease is subject to the fulfillment or waiver by City of each and all of the conditions precedent described below (“City’s Developer Hotel Ground Lease Commencement Conditions Precedent”), which are solely for the benefit of City, any of which may be waived by the City in its sole and absolute discretion within the time periods provided for herein. (a) Approval of Developer Hotel Ground Lease Subtenant. If Developer proposes to sublease the Developer Hotel Parcel concurrently with the execution of the Developer Hotel Ground Lease, then the City shall have approved the entity to be designated as the Subtenant under the Developer Hotel Ground Lease, and the form of the proposed