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<br /> f>f.{8 <br /> equipment upon the Leased Premises. If kessee is unable to secure all appropriate <br /> approvals, this Agreement may be canceled by Lessee by providing 30 days written <br /> notice to Lessor and all advance rentals by Lessee shall be refunded. <br />5. Term: <br /> This Agreement shall extend for a period of five years from the date referred to in <br /> Section 1 above. After the initial term of this Agreement, this Agreement will <br /> automatically be renewed for one-year periods on each successive anniversary of <br /> this Agreement unless one party notifies the other at least 30 days in advance of <br /> an anniversary date of its intention not to renew the Agreement. If such a notice is <br /> given, this Agreement is terminated on the anniversary date that occurs after the <br /> date of the notice. The annual rental shall increase each year by five percent per <br /> .. <br /> year over the previous year's consideration. <br />6. Consideration: <br /> As consideration for this Agreement, Lessee shall pay Lessor the sum of $365.00 <br /> per month, payable every six months in advance, subject to the escalation clause <br /> in Section 5 above. <br />7. Termination: <br /> a. This Agreement may be terminated at any time, without notice, by Lessor <br /> should Lessor determine that the structural integrity of the water tower is in <br /> question or that the water tower or any appurtenances pose an immediate <br /> threat to life and/or property, and, in such event, no compensation shall be <br /> paid to Lessee for damages to any equipment, the removal of which was <br /> necessitated by such condition. <br />