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(a) Purchase of the Leased Property by the Board; or <br />(b) An Event of Default and termination by the County pursuant to Article XI. <br />Termination of the Lease Term shall terminate all the County's obligations under this Lease and <br />shall terminate the Board of Education's rights of possession under this Lease, but all other provisions of <br />this Lease, including the receipt and disbursement of funds, shall be continuing until the Financial Contract <br />is discharged as provided herein. <br />ARTICLE V <br />QUIET ENJOYMENT; PURCHASE OPTIONS <br />5.1 Quiet Enloyment. The County hereby covenants that the Board of Education shall, during <br />the Lease Term, peaceably and quietly have and hold and enjoy the Leased Property without suit, trouble <br />or hindrance from the County, except as expressly required or permitted by this Lease. The County shall <br />not interfere with the quiet use and enjoyment of the Leased Property during the Lease Term. The County <br />shall, at the Board of Education's request and the County's cost, join and cooperate fully in any legal action <br />in which the Board of Education asserts its right to such possession and enjoyment, or which involves the <br />imposition of any taxes or other governmental charges on or in connection with the Leased Property. In <br />addition, the Board of Education may at its own expense join in any legal action affecting its possession <br />and enjoyment of the Leased Property, and shall be joined (to the extent legally possible, and at the Board <br />of Education's expense) in any action affecting its liabilities hereunder. <br />5.2 Purchase Option. The Board of Education shall have the option to purchase the Leased <br />Property in whole but not in part at the end of the Lease Term upon payment to the County of a purchase <br />option price of One Dollar ($1.00). The Board of Education shall notify the County of its exercising of this <br />option within fifteen (15) days after the end of the Lease Term, and within forty-five (45) days thereafter <br />the County shall execute and deliver all necessary documents conveying to the Board of Education good <br />and marketable title to the Leased Property, subject only to (a) encumbrances referenced in the title <br />insurance binder and (b) any encumbrances or imperfection caused by or attributable to the Board of <br />Education. <br />ARTICLE VI <br />CONSIDERATON FOR LEASE <br />6.1 Use as School; Assumption of Obligations. 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 Property, <br />the Board of Education hereby agrees to use the Leased Property for public school purposes in fulfillment <br />of its obligation, shared by the County, to provide for elementary and secondary education in the County. <br />In addition, in consideration of its rights under this Lease, the Board of Education undertake the <br />obligations imposed on it hereunder, including those imposed by Section 7.1. <br />6.2 Payments. In partial consideration for its acquisition of rights to use the Leased Property <br />during the Lease Term and its option to purchase the Leased Property, the Board of Education hereby <br />agrees to pay to the County annual rent in the amount of One Dollar ($1.00) payable in advance on the <br />Closing Date (receipt of which is hereby acknowledged) and on the first day of each Lease Year thereafter. <br />The County and the Board of Education acknowledge their understanding that although the County's <br />providing the Leased Property to the Board of Education for use is of substantial value to the Board of <br />3 <br />Page 64 <br />