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<br />DES:djg-c <br />'JES:djg-c <br />DES:djg-c <br />DES:djg-c <br />DES:djg-c <br /> <br />11/23/82 <br />C-2/ 15/ 83R <br />07/29/83R <br />11/20/83R <br />12/08/83R <br /> <br />term of this lease is ten (10) years commencing <br /> <br />JANUARY 1, <br /> <br />, <br /> <br />198 4 and ending <br /> <br />DECEMBER 31 <br /> <br />, 19~. <br />Lessee is hereby granted the right and <br /> <br />(b) <br /> <br />Options to Renew. <br /> <br />option to renew and extend the term of this lease for two <br /> <br />additional terms of 10 years, each; provided, however, that said <br /> <br />options shall be exercisable only if the average annual volume of <br /> <br />petroleum products shipped into the Port of Redwood City, based <br /> <br />upon the actual volume so shipped during the 5 years next preceding <br /> <br />the expiration of the initial la-year term (with respect to <br /> <br />exercising the first option) or the second 10-year term (with <br /> <br />respect to exercising the second option) equals or exceeds one <br /> <br />hundred twenty-five percent (125 %) of the minimum volume in effect <br /> <br />during the last year of the initial la-year term or second la-year <br /> <br />term, as applicable, upon which the Minimum Annual Guaranteed <br /> <br />Tariff payable pursuant to paragraph 4(b) or 4(c) is calculated. <br /> <br />Notwithstanding the foregoing, the 5-year period upon which the <br />average annual volume aforesaid is calculated shall be extended by <br /> <br />a period, if any, equivalent to any period within said 5-year <br /> <br />period during which Lessee's shipping is suspended or impossible of <br /> <br />accomplishment by reason of any of the following causes: <br /> <br />acts of <br /> <br />God, earthquake, flood, fire, or other events of destruction of <br /> <br />Lessor's Port terminal facilities not occasioned by the negligence <br /> <br />of Lessee, insurrection, riot, strikes, lockouts, boycotts, <br /> <br />picketing, labor disturbances, war (declared or undeclared), or <br /> <br />2 <br /> <br />- ._~ <br /> <br />... "~"-'-'-"'---'-' . <br />