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notice of exercise of its Option pursuant to Section l.a above. <br /> a. On July 1 of each year, the Rent shall be adjusted according to the <br /> change in the Consumer Price Index — Urban (CPI-U), as <br /> published by the Bureau of Labor Statistics. The adjustment shall <br /> reflect the percentage change between the CPI-U for the beginning <br /> of the lease period (or the date of the most recent adjustment, as <br /> applicable) and the most current available CPI-U as of July 1. <br /> b. The Director of Financial Management of the City shall notify <br /> Archway in writing of the rent rate adjustment. <br /> c. The adjusted rent rate shall become effective on August 1 of each <br /> year. <br /> 4. Taxes. In addition to the rent provided for in Paragraph 3 hereof, <br /> Archway shall also pay a pro rata share of all taxes, if any, due on the <br /> above-described premises which are attributable to Archway's Lease or <br /> use of the premises or are for periods occurring during the term of this <br /> Lease. <br /> 5. Compliance with Laws. Archway agrees to observe and comply with all <br /> rules, regulations, ordinances, statutes and zoning laws now in force or <br /> which may be enacted during the continuation of this Lease by the City or <br /> any other Municipal, County, State or Federal authority and to indemnify <br /> the City for any damages caused by violation thereof. Notwithstanding <br /> the preceding sentence, should the enactment of any new rules, <br /> regulations, ordinances, statutes or zoning laws relating to the operation of <br /> the parking spaces leased pursuant hereto result in a substantial economic <br /> hardship to Archway, as determined by Archway in its reasonable <br /> discretion, Archway may terminate this Lease upon thirty (30) days <br /> written notice to the City. <br /> 6. Release. Archway, in using the premises, does so at its own risk. The <br /> City shall not be liable for any damages to property sustained by Archway <br /> on the premises, or any portion thereof. Archway assumes full <br /> responsibility for property damages or injuries which may occur to <br /> Archway or its officers, employees, directors, agents or contractors, <br /> resulting from or arising out of Archway's use of the premises. Archway <br /> does hereby fully and forever on its own behalf release and discharge the <br /> City and the City Council members, City employees, officers and agents, <br /> in both individual and official capacities, from any and all claims, <br /> demands, damages, rights of action, present or future, whether the same be <br /> known, anticipated or unanticipated, whether due to negligence or <br /> otherwise, resulting from or arising out of Archway's use of the premises. <br /> Notwithstanding the foregoing, the provisions of this Section 6 shall not <br /> apply with respect to any loss, damage, claim, demand, action or injury <br /> AT1 32371889.9/37574-000001 <br /> 2 <br />