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<br />1 <br />ARTICLE VI <br />' CONSIDERATION FOR LEASE <br />6.1 Use; Assumption of Obli atg ions. In partial consideration for its acquisition of <br />' rights to use the Leased Property during the Lease Term and its option to Purchase the Leased <br />Property, the Board of Education hereby agrees to use the Leased Property for public school <br />purposes in fulfillment of its obligation, shared by the County, to provide for elementary and <br />secondary education in the County. In addition, in consideration of its rights under this Lease, the <br />Board of Education undertakes the obligations imposed on it pursuant to the terms of this Lease. <br />6.2 Payments. In partial consideration for its acquisition of rights to use the Leased <br />Property during the Lease Term and its option to purchase the Leased Property, the Board of <br />Education hereby agrees to pay to the County annual rent in the amount of One Dollar ($1.00) <br />payable in advance on the Effective Date (receipt of which is hereby acknowledged) and on the <br />' first day of each Lease Year thereafter. The County and the Board of Education acknowledge <br />their understanding that although the County's providing the Leased Property to the Board of <br />Education for use is of substantial value to the Board of Education, any payment by the Board of <br />' Education of a market value rent would represent simply an accounting transaction, because the <br />Board of Education's funding is primarily provided through the County. <br /> <br /> <br />ARTICLE VII <br />CONSTRUCTION AND OTHER ACCOMPLISHMENT <br />OF SCHOOL FACILITY AND CERTAIN RELATED COVENANTS <br />7.1 Construction and Other Accomplishment of the Facilities. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />The County has provided in the Agency Agreement for the construction and other <br />accomplishment of the Facilities by the Board of Education as the County's agent. The Board of <br />Education represents that it has reviewed all provisions concerning the construction and other <br />accomplishment of the Facilities and hereby approves such provisions. The Board of Education <br />shall take possession of the Leased Property on the date of delivery of this Lease. Title to the <br />Leased Property shall be held by the County, subject only to Permitted Encumbrances. <br />7.2 Maintenance, Repair, Taxes and Assessments. <br />(a) Maintenance; Repair. The Board of Education shall use, or cause to be used, the <br />Leased Property in a careful and proper manner, in compliance with all applicable laws and <br />regulations and, at its sole expense, shall service, repair, maintain and insure, or cause to be <br />serviced, repaired, maintained and insured, the Leased Property so as to keep the Leased <br />Property in good condition, repair, appearance and working order for the purposes intended, <br />ordinary wear and tear excepted. <br />(b) Taxes and Assessments. The Board of Education shall also pay, or cause to be <br />4 <br />WCSR 4071622v1 <br />Attachment number 3 <br />F-10 Page 141 of 320 <br />