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(d) Purchase Agreement. The parties acknowledge and agree that nothing contained in this <br />Lease Agreement shall be deemed to modify or otherwise effect the Purchase Agreement, which will <br />remain in full force and effect. Lessee shall have the right to use the Property during the Term to perform <br />its due diligence inspections and related activities at the Property, on and subject to the terms of the <br />Purchase Agreement. <br />Section 2. Limitation upon Encumbrance. <br />Neither Lessee nor any successor to Lessee may engage in any financing or any other transaction <br />creating any mortgage, encumbrance, or lien upon the Property during the Term of this Lease Agreement, <br />whether by express agreement or operation of law. In no event may the City's fee simple interest in the <br />Property be encumbered by a mortgage or any other lien created by Lessee. <br />Section 3. Taxes and Assessments. <br />The City will be liable for the payment of all taxes, assessments and any governmental charges <br />attributable to and for the benefit of the Property throughout the Term. <br />Section 4. Property Insurance; Waiver of Subrogation. <br />During the Term of this Lease Agreement, (i) Lessee will, at its own expense, insure any personal <br />property owned by Lessee and located in the Property and will obtain and maintain commercial general <br />liability insurance in commercially reasonable amounts in respect of any activities of Lessee at the <br />Property and (ii) the City will obtain and maintain in full force and effect a special form policy of <br />insurance covering the buildings and other improvements at the Property for their full replacement value, <br />as well as commercial general liability insurance in commercially reasonable amounts. The City and <br />Lessee hereby waive all rights of recovery and causes of action against Lessee and the City, <br />respectively, and their respective officers, employees, servants, agents and all parties claiming <br />through or under this Lease Agreement, for any damage to or destruction of the Property, or the <br />contents thereof caused by any of the perils coverable by the special form insurance policies of the <br />City and/or Lessee, respectively, notwithstanding the fact that said damage shall be due to the <br />negligence of any or all of the parties in whose favor this provision operates. <br />Section 5. Repairs and Maintenance. <br />During the Term of this Lease Agreement, Lessee will not be responsible for any repairs or <br />maintenance to the Property. <br />Section 6. Utility Charges. <br />During the Term of this Lease Agreement, the City will pay all charges for electricity, gas, <br />telephone, or any other utility charges, without limitation, used or supplied in connection with the <br />Property, and all water rents and sewer use charges levied against the Property. <br />Section 7. Mechanics' Liens. <br />Lessee may not cause any mechanics, materialmen or other liens to be filed or exist against the <br />Property or against Lessee's leasehold interest in the Property. If any such liens are filed, Lessee must <br />promptly give written notice to the City of that filing. Within 60 days after notice of filing, but subject to <br />2 <br />