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writing to Lessor 90 days prior to the expiration of the initial term. Failure to provide the <br />required written notice will, without any action by Lessor, terminate Lessee’s right to <br />renew the Agreement. Lessor and Lessee may. by mutual written agreement, renew the <br />Agreement following the expiration of the initial term and any subsequent terms. <br />The "Commencement Date" shall be a date specified in a written notice from <br />Lessee to Lessor, which date shall ’je on or after the date on which each of the conditions <br />set forth in section 7(E) has been satisfied. Said notice shall be sent in accordance with <br />the provisions of Section 24, herein. Upon the occurrence of the Commencement Date, <br />Lessor and Lessee shall e.xecute an amendment to this Lease, pursuant to the provisions <br />of Section 34, herein, which sets forth the Commencement Dale. <br />4. RENT <br />Lessee will pay annual rent to Lessor in the amount of $1.00 (one dollar) payable <br />on the Commencement Date and on ever)' anniversary of the Commencement Date . <br />WARRANTIES OF TITLE AND QUIET POSSESSION <br />Lessor covenants that Lessor is seized of the demised premises in fee simple and <br />has full right to make and enter into this Agreement and that Lessee shall have quiet and <br />peaceable possession of the demised premises during the term of this Acreement. <br />6.REPRESENTATIONS BY LESSEE <br />Lessee represents and warrants to Lessor that Lessee has the requisite power and <br />authority to enter into and to perform this Agreement.