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10 , <br /> t <br /> present condition, as improved, added to and modified as <br /> specified in Exhibit Landlord warrants to Tenant that the <br /> heating and air conditioning systems are in good operating <br /> condition; the exterior walls and roof, the lighting system <br /> (excluding such additions as may be required for Tenant's <br /> particular business operation) and the driveways, parking area <br /> and sidewalks are in good repair on the date of commencement of <br /> the Lease term. Landlord warrants to Tenant that Landlord holds <br /> unencumbered fee simple title to the Premises. <br /> 3. Term. The term of this lease shall be five (5) years, <br /> commencing on March 1, 1996 ( "Commencement Date") , and <br /> terminating on February 28, 2001, unless sooner terminated as <br /> herein provided. Tenant shall have an option to renew this lease <br /> for one additional term of five (5) years. Tenant shall give <br /> Landlord notice of its intent to renew this lease during the last <br /> year of the term or any renewal thereof but in no event shall <br /> such notice be given later than ninety (90) days prior to the end <br /> of said term. Tenant's right of renewal during the lease term <br /> shall be exercised only by Tenant and may not be exercised by any <br /> transferee, sublessee or assignee of Tenant. <br /> 4. Rent. Tenant agrees to pay to Landlord at the office <br /> of Landlord or at such other place designated by Landlord, the <br /> guaranteed rent of $8,270 per month payable on or before the <br /> first day of each calendar month commencing with the Commencement <br /> Date ( "Initial Rental Rate") . <br /> 2 <br />