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(b) Authori . CITY has all requisite power and authority to own the Grand Theater, to execute, deliver and perform its obligations under this LEASE and to consummate the transactions herein contemplated and, by proper action in accordance with all applicable law, has duly authorized the execution and delivery of this LEASE, the performance of its obligations under this LEASE, and the consummation of the transactions herein contemplated. (c) Binding Obligation. This LEASE is a valid and binding obligation of CITY and is enforceable against CITY in accordance with its terms. (d) Consents. No permission, approval or consent by third parties or any other governmental authorities is required in order for CITY to enter into this LEASE, make the agreements herein contained or perform the obligations of CITY hereunder other than those which have been obtained. (e) Quiet,,,,,Enjoyme,nt. During the Term of this LEASE and subject to the terms of this LEASE, PROJECT shall have the quiet enjoyment and peaceable possession of the Leased Premises against hindrance or disturbance by CITY or any person or entity acting by, through or under CITY. (f) Proceedings. There are no actions, suits or proceedings pending or, to the reasonable best knowledge of CITY, threatened or asserted against CITY affecting CITY or any portion of the Leased Premises, at law or at equity or before or by any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign. (g) Im,119„sitions. CITY has not received any notice of any condemnation actions, special assignments or increases in the assessed valuation of taxes or any Impositions of any nature which are pending or being contemplated with respect to the Leased Premises or any portion thereof. (h) Compliance with Laws. CITY has not received any notice of any violation of any ordinance, regulation, law or statute of any governmental agency pertaining to the Theater or any portion thereof. (i) Encumbrances. CITY has fee simple title to the Grand Theater, Improvements and Related Infrastructure which are subject to no liens or security interests, and CITY has not placed or granted any liens or security interests against the Leased Premises. There are no actions pending, to the knowledge of CITY, which would result in the creation of any lien on any portion of the Leased Premises, including, without limitation, water, sewage, street paving, electrical or power improvements which give rise to any lien, completed or in progress. CITY shall not grant any liens or security interest on all or any portion of the Theater other than encumbrances which will not affect PROJECT's use or enjoyment of the property. 12