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ARTICLE III : LEASE TERM , <br /> This Lease is effective upon its execution by Lessor and City; <br /> provided that the obligation of the City to make Lease Payments <br /> hereunder shall not commence unless and until the requirements of <br /> this Article III are met. This Lease shall be for a term of <br /> approximately fifteen(l5)up to twenty years from its effective date <br /> as set forth on Exhibit -1 or such other term as may be determined <br /> by the City prior to the Payment Obligation Commencement Date. On <br /> the Substantial Completion Date, the City's obligation to make <br /> Lease Payments shall commence; provided, however, that the interest <br /> component of Lease Payments shall not begin to accrue until the <br /> Payment Obligation Commencement Date (as defined in Article XXI) . <br /> On the Substantial Completion Date the City shall estimate the date <br /> that will be the Payment Obligation Commencement Date. Both the <br /> Payment Obligation Commencement Date and the scheduled expiration <br /> date shall be set forth in Exhibit B hereto. This The Lease shall <br /> terminate at the end of the Lease term so specified or when all <br /> Lease Payments have been paid, unless terminated prior thereto in <br /> accordance with the provisions of Article XI or XII of this Lease; <br /> provided, however, that in no event shall the term of this Lease <br /> exceed fifty (50) years. <br /> ARTICLE IV: LEASE PAYMENTS <br /> 4 . 1 Lease Payments. <br /> A. Lease Payment Obligation to Arise Only Upon <br /> Substantial Completion Date. The Lease Payments do not become an <br /> obligation of the City until the Substantial Completion Date by <br /> the City in accordance with Article III of this Lease. <br /> B. Principal Component of Lease Payments. At the time <br /> of execution of the Original this Lease in May, 1991, the City and <br /> Lessor were arc able to identify only the estimated principal <br /> component of the Lease Payments, based upon the Base Bid Contract <br /> Amount plus estimated sales tax, plus $100. This amount is <br /> reflected in Exhibit B-1 as an estimated total Principal Amount of <br /> Lease Payments. <br /> Following the Substantial Completion Date and prior to the <br /> Payment Obligation Commencement Date, the total principal component <br /> in Exhibit B has been will be revised to reflect any Additional <br /> Costs and any Capitalized Financing Costs. The City has shall also <br /> at such time established, in its sole discretion, the amortization <br /> schedules in Exhibits B-i and B-2, provided that (1) the total <br /> annual principal payments identified in the amortization schedule <br /> must equal the total principal component determined in accordance <br /> with the preceding sentence; (2) the sum of the principal component <br /> of Lease Payments shall not exceed an amount which causes the total <br /> B-9 KR170 92/01/27 <br />