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TABLE OF CONTENTS


	Page
ARTICLE I DEFINITIONS; RULES OF USAGE		1
1.1 Definitions		1
1.2 Interpretation		2
ARTICLE II APPOINTMENT OF THE CONSTRUCTION AGENT		2
2.1 Appointment		2
2.2 Acceptance and Undertaking		3
2.3 Term		3
2.4 Scope of Authority		3
2.5 Delegation of Duties		6
2.6 Covenants of the Construction Agent		6
ARTICLE III THE PROPERTY		10
3.1 Construction		10
3.2 Amendments; Modifications		10
3.3 Insufficient Lender Commitments and Lessor Commitments		11
3.4 Grant of Security Interest		11
3.5 Insurance		12
3.6 Casualty, Condemnation and Environmental Violation		18
3.7 Abandonment or Permanent Discontinuance		22
3.8 Additions to the Property and Related Requirements		22
3.9 Warranty of Title		24
3.10 Permitted Contests Other Than in Respect of Indemnities		24
3.11 Impositions and Other Matters		25
ARTICLE IV PAYMENT OF FUNDS		25
4.1 Right to Receive Construction Cost		25
4.2 Limitations During Construction Period		25
ARTICLE V AGENCY AGREEMENT EVENTS OF DEFAULT		26
5.1 Agency Agreement Events of Default		26
5.2 Damages		31
5.3 Remedies; Remedies Cumulative		31
5.4 Limitation on Recourse		33
5.5 Determination of Whether Budget is In Balance		34
ARTICLE VI THE LESSORS RIGHTS		35
6.1 Exercise of the Lessors Rights		35
6.2 The Lessors Right to Cure the Construction Agents Defaults		35
ARTICLE VII MISCELLANEOUS		35
7.1 Notices		35
7.2 Successors and Assigns		35
7.3 GOVERNING LAW		35
7.4 SUBMISSION TO JURISDICTION; VENUE; WAIVERS; ARBITRATION		36
7.5 Amendments and Waivers		36


	Page
7.6 Counterparts		36
7.7 Severability		36
7.8 Headings and Table of Contents		36
7.9 WAIVER OF JURY TRIAL		36
7.10 Assignment		36
7.11 No Waiver		37
7.12 Acceptance of Surrender		37
7.13 No Merger of Title		37
7.14 Survival		37
7.15 Limited Liability		37
7.16 Statement of Intent Regarding Accounting Compliance		38