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• <br /> hereby amended as follows (deletions are stricken and additions <br /> are underscored) : <br /> 12 . 1 Option to Purchase. The City shall have <br /> the option to purchase the Leased Premises and thereby <br /> terminate this Lease on any Lease Payment Date <br /> occurring ten cight years or more after the Payment <br /> Commencement Obligation Date . The purchase price of <br /> the Leased Premises shall be an amount equal to the <br /> total unpaid principal component amount of Lease <br /> Payments set forth on Exhibit B-1 as of the date the <br /> option to purchase under this Section 12 . 1 is exercised <br /> (the "Exercise Date") of prepayment less the total <br /> principal component of Lease Payments paid prior to the <br /> Exercise Date, plus interest accrued thereon to the <br /> Exercise Date date of prepayment at the applicable <br /> rate (s) set forth on Exhibit B-1, plus an option fee of <br /> one hundred dollars ($100) , plus any and all costs and <br /> expenses, if any, incurred in connection with the <br /> optional redemption of Certificates of Participation. <br /> 12 . 3 Conveyance of Leased Premises . On the <br /> closing date specified in the notice of election to <br /> exercise purchase option, or such other date as City <br /> and Lessor may mutually agree, Lessor shall convey the <br /> Leased Premises to City by statutory warranty deed, <br /> free and clear of all liens, encumbrances, conditions, <br /> covenants, and restrictions, except the CCRs, the <br /> Permitted Exceptions listed on Exhibit A attached and <br /> other exceptions approved by the City as of the date of <br /> this Lease, any exceptions arising by or through City <br /> and any other exceptions approved by City in its sole <br /> and absolute discretion in writing, and this Lease <br /> shall terminate. Lessor shall not be required to make <br /> any representations regarding the condition of the <br /> Leased Premises, and City agrees to accept the Leased <br /> Premises in an "as is" condition. City shall pay all <br /> costs, if any, incurred in the conveyance of the Leased <br /> Premises pursuant to this Article XII, including, <br /> without limitation, real estate excise tax, title <br /> insurance premiums, escrow charges and recording <br /> charges . Nothing herein shall be construed to require <br /> City to exercise the purchase option herein granted. <br /> 12 . 4 Option to Partially Prepay Lease. The City <br /> shall have the option to partially prepay the principal <br /> component of the Lease Payments, in $5, 000 increments, <br /> in inverse order of maturities (as represented by the <br /> principal portion of the Lease Payments due each year <br /> -5- DOT046.DOC 93/06/15 <br />