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security interest in favor of either Tenant's Leasehold Mortgagee or Tenant's equipment lessor, as the case may be. A default by Tenant of its obligations under the Security Agreement shall constitute a default under the terms of this Lease. Tenant agrees that it will not lease, as opposed to purchase, any furniture, furnishings, fixtures, equipment or other personal property for use in the operation of the Facility unless and until Tenant has expended, for so-called "hard" construction costs, at least the budgeted amount for the "Total Construction Budget" set forth in the Project Pro Forma attached as Exhibit I. The "Total Construction Budget" and "hard" construction costs consists of those items included in the categories of "Total New Construction," "Site Improvement" and "Construction Contingency" in the Project Pro Forma, and do not include any items included in the category of "Indirect Costs" in the Project Pro Forma. Provided that Tenant has expended, for so-called "hard" construction costs, at least the budgeted amount for the "Total Construction Budget" set forth in the Project Pro Forma, Tenant may lease furniture, furnishings, fixtures, equipment and/or other personal property for use in the operation of the Facility; provided further that in no event shall the value of any such leased property exceed Three Million Dollars ($3,000,000). ARTICLE XIV SURRENDER OF PREMISES Section 14.1 Surrender of Premises Subject to the provisions of Articles XI and XII of this Lease, on the last day of the Term, or upon any earlier termination of this Lease pursuant to the terms hereof, Tenant LEASE BETWEEN CITY OF SAN LEANDRO AND SAN FRANCISCO BAY CONFERENCE RESORT PAGE 54 2574001\313983.8