Housing Consortium of the East Bay Ground Lease 20231030

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13 Section 2.2 Term. Unless sooner terminated pursuant to the provisions hereof, this Ground Lease shall continue in full force and effect for a term ("Initial Term") commencing on the Commencement Date and expiring on the fifth (5th) anniversary of the date that the City issues a final Certificate of Occupancy for the construction and rehabilitation of the Improvements. (a) Extension Terms. The Term of this Ground Lease shall automatically be extended for a one year period (“Extension Term”) at the end of the Initial Term and each Extension Term, provided that, at the time of the commencement of an Extension Term, Lessee is not in breach of its material obligations under this Ground Lease beyond any applicable notice and cure periods provided in this Ground Lease, and neither Party has timely provided written notice to the other Party of the termination of this Ground Lease. The Initial Term and Extension Terms are collectively referred to herein as the “Term.” In no event shall the Term exceed a total of ten (10) years after the date that the City issues a final Certificate of Occupancy for the construction and rehabilitation of the Improvements. (b) Termination. Either Party may provide written notice to the other Party of the termination of this Ground Lease six (6) months or more prior to the end of the current Term, with or without cause, and such termination shall then become effective as of the last day of the current Term. Section 2.3 Use. Subject to the provisions hereof, Lessee shall use the Leased Premises for the construction, rehabilitation and operation of the Project, which includes the construction, rehabilitation and operation of the Improvements on the Leased Premises in accordance with the restrictions and requirements set forth in Article 2 hereof. Further, Lessee agrees: (a) that all uses conducted on the Leased Premises, including, without limitation, all activities undertaken by Lessee pursuant to this Ground Lease, shall conform to all applicable provisions of the San Leandro Municipal Code and the Project Homekey Agreement; (b) not to use or permit the use of the Leased Premises for any disorderly or unlawful purpose; (c) subject to the laws of the State of California and the rights of Residents, to permit Lessor and its agents to inspect the Leased Premises or any part thereof at any reasonable time during the Term. Section 2.4 Possession. Lessor agrees to and shall provide possession of the Leased Premises to Lessee free and clear of all rights to possession or use by any tenants or other individuals or entities other than Lessee (except as disclosed to Lessee or apparent from Lessee's inspection), and free and clear of any encumbrances except as expressly approved by Lessee in writing. Section 2.5 As-Is Condition. Lessor shall deliver possession of the Property to Lessee on the Commencement Date, in its As-Is Condition, and Lessee hereby accepts the Property in its As-Is Condition. Neither the Lessor, nor any officer, employee, agent or representative of the Lessor has made any representation, warranty or covenant, expressed or DocuSign Envelope ID: 6E2EA799-6D74-41E3-B3EE-3CD67DC0ACD0