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of the Land : . : . .- . - - : - . - - : . - - - - (the <br /> "Original Ground Lease") ; and <br /> WHEREAS, on August 23, 1991, the City issued a Certificate of <br /> Substantial Completion of the Improvements pursuant to the <br /> Construction Contract; and <br /> WHEREAS, the Construction Contract contemplates that, <br /> following substantial completion of construction of the <br /> Improvements, the City shall provide for the takeout financing of <br /> Lessor's interests in the Improvements and related lease and ground <br /> lease; and <br /> WHEREAS, a competitive solicitation of bids for the <br /> acquisition of the Lessor's interests in this Amended and Restated <br /> Lease, the Amended and Restated Ground Lease and the Improvements <br /> has been conducted, and pursuant to Resolution No. of the <br /> City, an underwriter has been selected to accomplish such takeout <br /> financing; and <br /> WHEREAS, the City and Lessor have determined it is necessary <br /> and in their respective best interests to make certain changes to <br /> the Original Ground Lease and the Original Lease in order to <br /> accomplish such takeout financing; and <br /> WHEREAS, City is authorized under the Constitution and the <br /> laws of the State of Washington to enter into this Amended and <br /> Restated Lease for the purposes set forth herein; provided, <br /> however, that in no event shall City be liable for all or any part <br /> of the cost of construction of the Improvements nor shall City be <br /> liable for payment of rent under the Lease unless and until the <br /> Improvements have been substantially completed, a temporary <br /> certificate of occupancy has been issued and the Improvements have <br /> been accepted by the City as substantially complete and are <br /> available for use by the City; and <br /> WHEREAS, the City is authorized to enter into this Amended and <br /> Restated Lease by Ordinance No. of the City passed October _, <br /> 1991 and Resolution No. in the City adopted October , 1991; <br /> NOW, THEREFORE, pursuant to law and for and in consideration <br /> of the mutual promises, covenants and conditions hereinafter <br /> contained the parties hereto agree as follows: <br /> ARTICLE I: LEASED PREMISES <br /> As of the date first set forth above, this Amended and <br /> Restated Lease (hereinafter, the "Lease") supersedes in its <br /> entirety the original Lease executed by and between the City and <br /> Lessor dated as of December 12, 1990. <br /> -2- D0T439 91/09/24 <br />