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<br />ARTICLE XVI <br /> <br /> <br />OPTION TO RENEW <br /> <br /> <br />Provided TENANT is not otherwise in default and subject to LANDLORD <br /> <br /> <br />having no objection, TENANT, through its Fire Chief or his designee, is hereby granted <br /> <br /> <br />the option to extend this Lease Agreement for an additional period that TENANT may <br /> <br /> <br />deem necessary, upon the same terms and conditions contained herein, by giving <br /> <br />LANDLORD notice in writing at least sixty (60) days prior to the expiration of this Lease <br /> <br />Agreement or any extension thereof. <br /> <br />ARTICLE XVII <br /> <br /> <br />CANCELLA TION <br /> <br /> <br />TENANT, though its Fire Chief or designee, shall have the right to cancel this <br /> <br /> <br />Lease Agreement at any time by giving LANDLORD at least ninety (90) days' written <br /> <br /> <br />notice prior to its effective date. In the event TENANT exercises said cancellation right <br /> <br /> <br />in the initial term of this Lease Agreement, TENANT shall pay LANLORD One dollar <br /> <br /> <br />($1.00) for each year remaining in the initial term on the effective date of said <br /> <br /> <br />cancellation. It is agreed and understood that there shall be no fee payable by TENANT <br /> <br /> <br />to LANDLORD in the event TENANT exercise its cancellation right during the <br /> <br /> <br />extension term, if any, of this Lease Agreement. If LANDLORD enters into a contract to <br /> <br /> <br />sell the demised premises, LANDLORD shall have the right to cancel the Lease <br /> <br /> <br />Agreement by giving TENANT at least ninety (90) days written notice prior to its <br /> <br /> <br />effective date; and provided, however, that TENANT shall be paid the fair market value <br /> <br /> <br />of any improvements or buildings constructed theron. <br /> <br />Page 7 of9 <br /> <br />SIB <br />