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ten (10) years ( the "Second Extension Term") following the expiration of the First Extension Term by delivering to Landlord an Option Notice at least one (1) year in advance of the expiration date of the First Extension Term. The Initial Term and all properly and effectively exercised Extension Terms are collectively defined as the "Term." The foregoing provisions of this Section 2.3 to the contrary notwithstanding, if, at the time of Tenant's delivery of an Option Notice or at the time an Extension Term is to commence, Landlord shall have delivered a Notice of Default to Tenant notifying Tenant of an Event of Default, the effectiveness of the Option Notice or the commencement of the Extension Term in question, as the case may be, shall, at Landlord's election, be conditioned upon Tenant's cure of the subject Event of Default within the time period, if any, provided for such cure under Article XVIII ("Cure Event"). If the Cure Event does not occur within the time period, if any, provided for such cure, the Option Notice shall, at Landlord's election, be deemed null and void and the Term shall expire at the end of the Initial Term or the First Extension Term, as the case may be. In no event shall Tenant have any right to extend the Term beyond the Second Extension Term. Section 2.4 Prevailing Wales Tenant agrees that in the construction of the Improvements under this Lease, Tenant shall comply with the Public Works Prevailing Wage Requirements attached to this Lease as Exhibit D. LEASE BETWEEN CITY OF SAN LEANDRO AND SAN FRANCISCO BAY CONFERENCE RESORT PAGE 12 2574001\313983.8