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B. Delivery of Quitclaim Deed. Upon execution of this Lease, Tenant shall execute and deliver to Landlord an executed and acknowledged quitclaim deed, in recordable form and in the form of the attached Exhibit J. Landlord shall hold such quitclaim deed and record it with the Alameda County Recorder only upon termination of this Lease by Landlord pursuant to the provisions of Section 2.2(A) or 13.2(B). If Landlord's termination rights under Section 2.2(A) and 13.2(B) expire by lapse of time, by Landlord's failure to exercise its termination right within the time specified, by Tenant's achievement of the Milestone Events by the corresponding Milestone Dates therefor and/or by Tenant's satisfaction of the conditions set forth in Section 13.2(B) within the time specified, Landlord shall return the quitclaim deed to Tenant. Section 2.3 Options to Renew If this Lease shall not have been previously terminated, Tenant shall have the option to extend the Initial Term of this Lease on the same terms and conditions as set forth in this Lease (excepting this option and Percentage Rent, which shall be established in accordance with Section 3.1), for an additional period of ten (10) years ( the "First Extension Term") following the expiration of the Initial Term by delivering to Landlord written notice of Tenant's exercise of such option ("Option Notice") at least one (1) year in advance of the expiration date of the Initial Term. If this Lease shall not have been previously terminated, Tenant shall have the option to further extend the Initial Term of this Lease on the same terms and conditions as set forth in this Lease (excepting this option and Percentage Rent, which shall be established in accordance with Section 3.1), for a second additional period of LEASE BETWEEN CITY OF SAN LEANDRO AND SAN FRANCISCO BAY CONFERENCE RESORT PAGE 11 2574001\313983.8