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<br />mcrease. If LESSOR disagrees with LESSEE's determination of said adjustment, LESSOR shall, <br /> <br />by or before March 20 of each year, calculate the rate increase appropriately and notifY LESSEE, in <br /> <br />writing, of the appropriate monthly rental rate, as adjusted. If LESSOR does not object to LESSEE's <br /> <br />calculation of the rate adjustment as provided herein, then the rate adjustment provided by LESSEE <br /> <br />shall be deemed approved. In any event, beginning with the monthly payment due April 1 of each <br /> <br />year, LESSEE shall pay the adjusted monthly rate as determined herein. If, for any reason, the CPI <br /> <br />adjustment would result in a decrease in the monthly rental due, the previous year's rental shall <br /> <br />remain in effect. In no event shall the monthly rental rate be decreased. <br /> <br /> <br />It is further agreed by LESSOR and LESSEE that LESSOR shall have the option to renew <br /> <br /> <br />such Lease for two additional periods offive (5) years each, the initial monthly rental for the renewal <br /> <br /> <br />to be at the last rate of the original term, with a like payment due on or before the first day of each <br /> <br />month thereafter during the remainder of the term of the first option. The granting of said first <br /> <br />option shall be on substantially the same terms and conditions of this original Lease, including the <br /> <br />annual rental CPI adjustment. LESSOR shall send written notice to LESSEE sixty (60) days in <br /> <br />advance ofthe end of the original term or optional extended term notifying LESSEE or LESSOR's <br /> <br />intention to extend the Lease for an additional five (5) year period. <br /> <br /> <br />IN CONSIDERATION HEREOF, it is mutually agreed by and between LESSOR and <br /> <br /> <br />LESSEE: <br /> <br /> <br />I. That LESSEE pay to LESSOR, or order, at the City Hall in the City of Paris, the <br /> <br /> <br />agreed rental in advance, promptly and without neglect, default, and delay. <br /> <br /> <br />2. That this Lease is subject to all the terms, provisions, and conditions of the deed of <br /> <br /> <br />conveyance of such premises from the United States of America to the City of Paris, recorded in <br /> <br />Lease Aereement - Page 2 <br />