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A. Tenant's Obligation to Meet Milestone Dates. Attached to this Lease as Exhibit B is a list of dates (the "Milestone Dates") and corresponding descriptions of the events (the "Milestone Events") to have been achieved by Tenant by each of such dates. In the event that Tenant has not achieved a particular Milestone Event by the corresponding Milestone Date therefor, then this Lease and the Development Agreement may be terminated by Landlord's delivery of written notice to Tenant at any time after such date and before Tenant's achievement of the Milestone Event in question, subject to the force majeure provisions of Section 22.11. For purposes of this Section 2.2(A), commencement of construction shall mean that all building permits and other necessary approvals required under Applicable Laws for the construction of the Improvements shall have been issued and Tenant shall have actually commenced grading and excavation work on the Premises and thereafter diligently proceeds to Substantial Completion. Notwithstanding the foregoing, if (i) Tenant's failure to commence construction of the Improvements by the Milestone Date therefor is due to a delay in Tenant's receipt of all necessary permits, licenses and other approvals and (ii) Tenant has at all times proceeded, and continues to proceed, with due diligence in its efforts to obtain all necessary permits, licenses and approvals, then Landlord shall not have the right to terminate this Lease and the Development Agreement under this Section 2.2(A) unless Tenant has not commenced construction of the Improvements by the date that is three (3) months following the Milestone Date for commencement of construction set forth on Exhibit B. LEASE BETWEEN CITY OF SAN LEANDRO AND SAN FRANCISCO BAY CONFERENCE RESORT PAGE 10 2574001\313983.8