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LEASE AGREEMENT <br /> 80 CHEMICAL WAY <br /> This Lease Agreement (this "Lease "), dated , for reference <br /> purposes only, is made and entered into by and between THE CITY OF REDWOOD CITY, a <br /> charter city and a municipal corporation of the State of California ( "Landlord "), and <br /> GENERAL HARDWARE AND BUILDERS SUPPLY, INC., a California corporation <br /> ( "Tenant "). Landlord and Tenant agree to the terms, covenants and conditions of this Lease, as <br /> follows: <br /> 1. Definitions. <br /> 1.1 Property. The term "Property" shall mean the real property located at <br /> 80 Chemical Way in the City of Redwood City, California, together with all improvements now <br /> or hereafter located on the real property, as described on Exhibit A . <br /> 1.2 Building. The term "Building(s)" shall mean, individually or <br /> collectively as the case may be, the building or buildings located on the Property as of the date of <br /> this Lease. <br /> 1.3 Premises. The term "Premises" shall mean the Property, the <br /> Building(s), and any other improvements located on the Property. <br /> 1.4 Option Agreement. The term "Option Agreement" means the Real <br /> Property Option Agreement between Landlord (as the "Optionee ") and Schraeder Leask <br /> Development, Inc., a California corporation (as the "Owner ") dated , 2010. <br /> 2. Demise, Term and Possession. <br /> 2.1 Demise of Premises. Landlord hereby leases the Premises to Tenant <br /> and Tenant hereby leases the Premises from Landlord for the term, at the rental, and upon all of <br /> the other terms, covenants and conditions set forth herein. Tenant acknowledges that it is <br /> currently in possession of the Premises and accepts the Premises in their "as is" condition. <br /> Landlord makes no representations or warranties regarding the condition of the Premises, the <br /> Building(s) or the Property. Landlord shall have no obligation to make any alterations or <br /> improvements to the Premises, the Building(s) or the Property. <br /> 2.2 Term and Delivery. The term of this Lease (the "Term ") (a) shall <br /> commence on the date that Landlord consummates the purchase of the Property from Tenant (the <br /> "Commencement Date ") and (b) shall expire on the date that this Lease is terminated by Tenant <br /> or by Landlord as provided in Section 2.4 or Section 2.5, below; provided, however, that the <br /> Term of the Lease in all event events shall expire on December 31, 2012, unless otherwise agreed <br /> Redwood City Lease 10.04. 2010 v.5 (80 Chemical) 1 <br />