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11 <br /> A. Option to Purchase <br /> • <br /> A. Option to Purchase <br /> 1. Beginning in year ten(10)of this Agreement and/or upon expiration of the initial term of this A eement,the <br /> Licensor shall,pursuant to and consistent with the terms of this Agreemen <br /> rP2411.tlig LicegivoLalla Licensee, have the option to purchase Licensee's Facilities at Fair Market Value (the <br /> "FMV"). <br /> 2. Fair Market Value shall be determined by an appraiser or CPA. The cost of determining the FMV shall be that <br /> of the Licensor. In the event of a dispute regarding the appraisal,Licensee shall have appraisal completed and <br /> the average of the two appraisals shall serve as the FMV. Licensor may exercise this option at any time after <br /> the expiration of the initial term. <br /> 3. Beginning in-War ten (10) of this Agreement and/or upon expiration of the initial term ofilliMIEMEnt, <br /> Licensor shall, pursuant to and consistent with the terms of this Agreement, and with the mutual agreement of <br /> both the Licensor and Licensee, have the option to renew the existing Agreement for an additional six(6)year <br /> period. <br /> B. Termination <br /> In the event of default as described in Section VII. E. below, Licensor may, at its option, terminate this <br /> License upon written notice to Licensee. Except where a different time is set forth elsewhere herein, said <br /> notice shall be thirty(30)days. <br /> C. Holding Over <br /> Should Licensee hold possession of the Premises or any portion thereof after the date upon which the Premises <br /> are to be surrendered, Licensee will become a Licensee on a month-to-month basis upon all the terms, covenants, <br /> and conditions of this License except those pertaining to the License term. Licensee will continue occupancy <br /> from month-to-month until terminated by Licensor or Licensee by the giving of thirty(30)days' written notice to <br /> the other. Nothing contained herein shall grant Licensee the right to holdover after the term of this License has <br /> expired. <br /> D. Non-Waiver <br /> Failure of Licensor to insist on strict performance of any of the conditions or provisions of this License or to <br /> exercise any of the rights hereunder shall not waive such rights. <br /> E. EVENT OF DEFAULT <br /> It shall be an Event of Default if any one or more of the following events shall occur: <br /> 1. Licensee shall default in the payment when due of any Rent or other sum of money specified hereunder to be <br /> paid by Licensee, and Licensee does not remedy such default within ten(10)days after written notice thereof <br /> from the Licensor (provided, however, that the Licensor shall not be required to provide such notice with <br /> respect to more than two payments required during any calendar year during the term hereof);or <br /> 2. Licensee shall default in the performance of any other of the terms, conditions or covenants contained in this <br /> License to be performed or observed by Licensee, other than that specified in (1) above, and Licensee does <br /> not remedy such default within thirty (30) days after written notice thereof or, if such default cannot be <br /> 7 <br />