Preview | Ground Lease Agreement |

1.		Leased Property.The Property is the land described in Exhibit A.

2.		Lease Term.99 years, commencing with the Commencement Date referenced in the Lease.

3.		Base Rent.The base rent from the Commencement Date through and including the Completion Date (as defined in the Participation Agreement) shall be fair market rent as determined by the Appraisal (as defined in the Participation Agreement). Following the Completion Date the base rent shall be $1.00 per annum. Effective on the earlier of (i) June 28, 2011 (unless such date is extended pursuant to the ELLF Lease defined herein) or (ii) the date the Tenant is no longer the ground lessee of the Property, the base rent shall be increased to the fair market rent for comparable land located in a comparable section of Montgomery County, Maryland at the effective date of such increase. Base rent shall be payable on December 31 of each year, in arrears; provided, however, the Landlord acknowledges that the Tenant has prepaid in full as of the Commencement Date the base rent for the entire period prior to the Completion Date.

4.		Permitted Use.Any lawful use.

5.		Taxes, Services, Utilities. Tenant will pay (or cause to be paid) all property taxes, service charges and utility expenses related to the Property.

6.		Absolute Net Lease. The Property is leased to Tenant on an absolute net lease basis.

TABLE OF CONTENTS


		PAGE
1.	Overall Limitation		1
2.	Term; Possession		1
	2.1 Term		2
	2.2 Acceptance of Property		2
3.	Rental		2
	3.1 Base Rental		2
	3.2 Time and Place of Base Rent Payments		2
	3.3 Additional Rent, No Offsets		3
	3.4 Absolute Net Lease		3
4.	Use of Property		3
	4.1 Permitted Use		3
	4.2 Compliance with Legal Requirements		3
	4.3 Nondisturbance		3
5.	Maintenance; Taxes; Utilities		3
	5.1 Maintenance		4
	5.2 Taxes and Assessments		4
	5.3 Tenants Election to Contest		4
	5.4 Utilities		4
6.	Liens		4
7.	Disclaimer of Landlords Responsibilities		5
8.	Condemnation		5
9.	Transfers by Tenant		5
	9.1 Transfer Permitted Without Consent		5
	9.2 Notice of Certain Transfers		5
10.	Events of Default		6
	10.1 Payment Default		6
	10.2 Default in Other Covenants		6
11.	Remedies on Default		6
	11.1 Retake Possession		6
	11.2 Damages for Default		6
	11.3 Cure of Tenants Default		6
	11.4 Other Remedies		7
12.	Surrender at Expiration		7

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