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<br />S. Assignment and Sublease. The Company may not sublet, assign, encumber, or otherwise transfer <br />this lease, or any right or interest herein, or in the leased premises, without the prior written consent <br />of the City, which consent will not be unreasonably withheld or delayed. If the Company attempts to <br />sublet, assign, encumber or otherwise transfers its rights or interest herein, or in the leased premjses, <br />without the above prior written consents, in violation of the foregoing provision, the City may declare <br />this lease terminated. In the event the City and the Company consent in writing to an assignment, <br />sublease, or other transfer of all or any of the Company's right hereunder, the assigns, sub-lessee, or <br />transferee must assume all of the Company's obligations hereunder, but the Company shall <br />nevertheless remain liable for every obligation of the Company hereunder. <br /> <br />T. Quiet Enjoyment. The City hereby warrants that the City has full authority to execute this lease and <br />warrants to the Company that, upon payment of said rental and performance of the other covenants <br />of this lease, the Company shall quietly have, hold, and enjoy the leased premises for the purposes <br />set forth herein during the term hereof, including any extensions, and the City warrants and agrees to <br />defend such peaceable possessjon and use to the Company agajnst lawful clajms of any and all <br />persons whomsoever. <br /> <br />U. Additions and Improvements. The Company shall not make any alterations, additions, or <br />improvements to the premises without the prior written consent of the City. All fixtures (including floor <br />coverings), alterations, additions, and improvements (except trade fixtures) put in at the expense of <br />the Company shall be the property of the City and shall remain upon and be surrendered with the <br />premises as a part thereof at the termination of this lease. <br /> <br />5. OPTION TO PURCHASE: The Company is hereby granted an option to purchase the leased <br />premises, on the following terms and conditions: <br /> <br />A. Optjon After 5 Years. The option to purchase may be exercised at any time after the expiration of at <br />least five (5) years and only after the Company has paid not less than sixty (60) monthly installments <br />of rent, totaling not less than One Hundred Twenty-five Thousand Forty and No/100 Dollars <br />($125,040); <br /> <br />B. Lease Current. The Company shall be current on all of its obligations hereunder at the time of <br />exercise of the option. <br /> <br />C. Purchase Price. The purchase price shall be equal to the amount of rent remainin9 due hereunder as <br />of the date of exercise of the option through the date of termination indicated in Section 2 hereof. <br /> <br />D. Closing. The purchase shall be paid and the transaction consummated and closed within sixty (60) <br />days of exercise of the option. The purchase price shall be paid to the City, in cash, at ciosing. <br /> <br />E. Closing Costs. The Company shall pay all costs of closing other than costs of preparation of the Deed <br />by the City. <br /> <br />6. MISCELLANEOUS: <br /> <br />A. All notices required hereunder must be given by certified mail or registered mail, addressed to the <br />proper party, at the following addresses: <br /> <br />to The City: City Manager <br />City of San Marcos <br />630 E. Hopkins <br />San Marcos, Texas 76666 <br /> <br />8 <br /> <br />initial as to approval: Company _ City_ <br />