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and subject to the Permitted Exceptions described in Schedule A
hereto; and a copy of the Lease is being held by Lessee at its
office having the mailing address stated above; and
WHEREAS, Lessor and Lessee desire to enter into this
Memorandum of Lease, which is to be recorded in order t.hat third
parties may have notice of Lessee's interest in the Premises and
of the Lease.
NOW, THEREFORE, Lessor, in consideration of the
rents and covenants provided for in the Lease to be paid and
performed by Lessee, hereby leases to Lessee, and Lessee
hereby leases from Lessor, the Premises upon the terms and
subject to the conditions set forth in the Lease. Lessor
reserves unto itself any and all rights to consent to any
exploration for or development of oil, water, gas, minerals
and other valuable underground resources on or under the
Premises or any portions thereof.
The primary term of the Lease shall commence on
December 23, 1980 and end at midnight on December 31, 1995 (the
Primary Term). Lessee shall have the right to extend the term of
the Lease for up to three (3) consecutive extended terms, the
' first for a period of five (5) years and the second and third for
. a period of ten (10) years each (the Extended Terms), on the terms
and conditions set forth in the Lease, unless and until the Lease
shall be sooner terminated pursuant to any provision of the Lease.
Each Extended Term shall commence on the day next succeeding the
expiration of the preceding term.
s go~x345 p~E2527
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