Vacating Premises (i) If the Assuming Bank elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming Bank's occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming Bank's notice not to exercise such option. The Assuming Bank promptly shall relinquish and release to the Receiver such premises and the Furniture and Equipment and Fixtures located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By occupying any such premises after the expiration of such ninety (90)-day period, the Assuming Bank shall, at the Receiver's option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such premises are located, and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank and located on such premises as of Bank Closing. (ii) If the Assuming Bank elects not to accept an assignment of the lease or sublease any leased Bank Premises, the notice of such election in accordance with Section 4.6(b) shall specify the date upon which the Assuming Bank's occupancy of such leased Bank Premises shall terminate, which date shall not be later than the date which is one hundred eighty (180) days after Bank Closing. Upon vacating such premises, the Assuming Bank shall relinquish and release to the Receiver such premises and the Fixtures and the Furniture and Equipment located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By failing to provide notice of its intention to vacate such premises prior to the expiration of the option period specified in Section 4.6(b), or by occupying such premises after the one hundred eighty (180)- day period specified above in this paragraph (ii), the Assuming Bank shall, at the Receiver's option, (x) be deemed to have assumed all leases, obligations and liabilities with respect to such premises (including any ground lease with respect to the land on which premises are located), and leased Furniture and Equipment and leased Fixtures located thereon in accordance with this Section 4.6 (unless the Receiver previously repudiated any such lease), and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank at Fair Market Value and located on such premises as of Bank Closing.
Storage Space Provided that Tenant provides written notice to Landlord of Tenant’s desire to lease storage space no later than thirty (30) days prior to the Commencement Date, then, commencing on the Commencement Date, and continuing for the balance of the Term (except as provided below in this Paragraph 6(M)), Tenant shall have the right to lease and utilize an amount of storage space not less than 10,000 square feet of Rentable Area and not in excess of Tenant’s Pro Rata Share of all storage space located in the Building and being made available for tenant usage (so long as not less than 10,000 square feet of Rentable Area of storage space is made available to Tenant as aforesaid), which storage space need not be contiguous (but will be four (4) or fewer spaces of no less than 1,500 square feet of Rentable Area each), but shall be secure (i.e., having a lockable entrance), ventilated, heated and lighted space located in a portion of the Building designated by Landlord with reasonable access to and from the Tenant Freight Elevator and the Tenant Staging Area. Landlord shall have the right to relocate any such storage space from time to time to another location at the Building reasonably acceptable to Tenant upon not less than sixty (60) days prior written notice thereof to Tenant, so long as (i) the substitute space is of reasonably comparable size to the space being so relocated, (ii) the substitute space meets all of the criteria described in this Paragraph 6(M), and (iii) Landlord is responsible, at its expense, for moving all items being stored in the relocated space to the applicable substitute storage space, as well as for the security and condition of any and all items being so moved during the course of such move, and in such event, Landlord shall indemnify and hold Tenant harmless from and against, and shall compensate Tenant for, any and all loss or damage to any of the items so moved, to the extent such loss or damage occurred during the course of such move. Tenant shall use such storage space for purposes of storing files, records, furniture, equipment, supplies, attic stock and materials of the type customarily used by office building tenants, and for no other purposes. Landlord shall provide services to such storage space as are customarily provided to storage space in comparable Class A office buildings in downtown Chicago. Tenant shall pay Rent for such storage space at the gross rental rate (i.e., there shall be no Operating Expenses or Taxes separately payable for any such storage space) of $17.00 per square foot of Rentable Area thereof, increased on a cumulative, compounding basis commencing on the first day of the second Lease Year by two and one-half percent (2.5%) annually. Tenant’s use of such storage space shall be subject to such reasonable rules and regulations as Landlord from time to time may promulgate on a non-discriminatory basis, and, at Landlord’s request, the parties shall enter into a separate storage space lease in form and substance reasonably satisfactory to Landlord and Tenant, which shall be consistent with the terms of this Paragraph 6(M) and the terms of this Lease, and shall not impose any additional duties, obligations or liabilities upon Tenant (except to a de minimis extent). Tenant may elect at any time upon at least thirty (30) days’ prior written notice to Landlord to surrender to Landlord as of the last day of a calendar month thereafter any demisable portion of such storage space (i.e., meaning space which Landlord reasonably determines is capable of being demised as storage space to another tenant without additional cost to separately demise the same being imposed on Landlord) which has access to the Common Areas of the Building. In the event that Tenant does not elect to lease Tenant’s Pro Rata Share of the storage space at the Building effective as of the Commencement Date as provided above, but thereafter notifies Landlord that Tenant desires to lease any such storage space, Landlord shall give Tenant notice if any storage space at the Building is available (or when any additional storage space in the Building will become available), and Tenant shall have the right to lease the same upon the terms (including the then escalated rental rates, continuing to escalate as and when described above) set forth above commencing on the first day designated by Tenant on which such space is (or so becomes) available. Without limitation of the foregoing, and in addition to the storage rights otherwise provided above in this Paragraph 6(M), it is agreed that Tenant shall lease as storage space during the Term, at the Rent rates and other terms otherwise described above in this Paragraph 6(M) relative to other storage space at the Building, such portion of the space on the 5th floor of the Building depicted as being part of the Initial Premises on Exhibit A-1 attached hereto as may be designated by Tenant, by written notice thereof delivered to Landlord on or before December 31, 2005 (time being of the essence); provided that in no event shall Tenant have the right to designate as such storage space on the 5th floor any area which would result in less than 10,000 square feet of Rentable Area, in the aggregate, remaining as part of the Initial Premises hereunder on the 4th and 5th floors of the Building. In the event that Tenant fails to so timely deliver its notice as described in the preceding sentence, then the entire area on the 5th floor which is designated on Exhibit A-1 as the 5th floor portion of the Premises shall continue to be leased as part of the Initial Premises hereunder. The actual Rentable Area of any storage space so designated by Tenant on the 5th floor shall be determined pursuant to the Measurement Method and as part of the determination of all Rentable Area under this Lease. Tenant shall have no right to surrender any such 5th floor storage space to Landlord at any time during the Term, notwithstanding anything contained herein to the contrary.