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To have and to hold the same to the said parties of the second part, their heirs,
executors, administrators and assigns, for and during the said term of ten years, or until
the termination of this Lease, as hereinafter provided.

The parties of the second part covenants and agrees to pay to the party of the
first part the annual rent or sum of Fifty (50) Dollars,
for the use and occupation of said premises, the first year's
rent being payable on the signing of this Lease, and thereafter all rental shall be payable
annually in advance at the beginning of each year of the term hereby created.

And said parties of the second part is hereby given and granted the right and
privilege of erecting houses, outbuildings and other improvements on said demised
premises, the same to be used for the following purposes alone, and for no other, that
is to say:

As a Fraternity House to be used only by
the Sigma Alpha Epilson House Association

it being specially covenanted, agreed and understood that the same shall never at any
time whatever be used as a boarding or lodging house.

And said parties of the second part hereby covenants and agrees that they will com-
mence and complete said house and other improvements within the period of one year
from the commencement of this lease, ready for use and occupation, said house and
improvements to cost not less than the sum of Six Thousand (6,000) Dollars
Dollars and to meet the approval of said party of the first part, or her successors, and
the parties of the second part covenants and agrees, before the commencement of any
improvements, to deliver to said party of the first part, or her successors, a complete set
of plans and specifications of all improvements proposed to be erected by them, the same
to meet with her approval or the approval of her successors.

Said parties of the second part further covenant and agree to lay a sidewalk of
stone, asphalt or cement, not less than four feet in width, in front of said premises, on
the grade to be established by the party of the first part.

The parties of the second part covenant and agree to hold harmless the party
of the first part from any and all liens occasioned by the erection of said buildings or
improvements upon said land.

Said parties of the second part are hereby given the right, at their own cost and
expense, to connect with all sewer and water mains where necessary, the cost of water
privileges in connection with the premises to be paid by said parties of the second part.

At the expiration of said term of ten years the said Lessor, or her successors,
shall, if so requested in writing by the Lessee at least three months in advance of such
expiration, either renew this Lease for the further term of ten years upon all the same
terms, conditions and stipulations as are in this Lease contained, except that in case
during any year or years of said second term the taxes on said land shall be increased
over and above the rate existing at the date of the signing of this Lease, then and in
such event the rental for said land for such years shall be correspondingly increased,
or if such renewal of Lease shall not be granted by the Lessor or her successors, then she
or her successors in said trust shall purchase and pay for the houses or other improve-
ments erected by the Lessee which shall then be standing on said premises at a fair
valuation to be fixed by arbitration in the usual manner: each of the parties hereto
selecting one arbitrator and the two so selected to choose a third, if necessary; the
written valuation by any two of the arbitrators to be final.

At the expiration of said renewed term of ten years, (if this Lease shall have
been so renewed) the said Lease shall thereafter be renewed for successive terms of ten
years (or in default of such renewal, all improvements then on said premises shall be
purchased by the successors of said Lessor in the manner herein provided,) upon all the
same terms, conditions and stipulations as are in this Lease contained, excepting, how-
ever, that the rental for said demised premises shall be fixed and determined by the
successors of said Lessor at such sum as to them shall seem fair and commensurate
with the then value of said land; and it is hereby specially covenanted, agreed and
understood that said sucessors shall have and they are hereby given the sole and
exclusive right to fix and determine the rental for said third term of ten years, and the
amount so fixed and determined by them shall be the rental for the extension of ten
years then about to commence, and said parties of the second part covenant and agree
to pay the same in lieu of said rental stipulated for the second term of ten years herein
provided for; provided, however, that no rental shall ever be paid for said demised
premises less in amount than the rental stipulated for said first term of ten years
under this Lease.