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6.2 ALTERATIONS. Emerald Valley may from time to time construct, improve, <br /> demolish, remove, replace, alter, reconstruct, remodel or add to existing improvements in <br /> whole or in part ( "alterations ") as Emerald Valley shall deem necessary or desirable upon <br /> the condition that all such work shall be done in a good and competent manner in <br /> compliance with all applicable building and zoning laws and all other laws, ordinances, <br /> orders and requirements of all authorities having or claiming jurisdiction. <br /> SECTION 7. OWNERSHIP OF THE IMPROVEMENTS. <br /> All improvements constructed on the Premises by Emerald Valley shall be owned by <br /> Emerald Valley until expiration or sooner termination of this lease. All improvements <br /> located on the Premises at the expiration or sooner termination of this lease shall become <br /> the property of County, free and clear of all claims of Emerald Valley or anyone claiming <br /> under Emerald Valley, and Emerald Valley shall indemnify and defend County against all <br /> liability and loss arising from such claims. <br /> SECTION 8. FINANCING; ASSIGNMENT; SUBLETTING. <br /> 8.1 RIGHT TO MORTGAGE THE LEASEHOLD. Emerald Valley may at any <br /> time and from time to time subject the leasehold estate and any or all improvements to one <br /> or more mortgages or other liens as security for a loan or loans or other obligations of <br /> Emerald Valley, provided that: <br /> 8.1.1 The mortgage or other lien shall be subject to all of the terms and conditions <br /> • <br /> of this lease and to the rights and interests of County except as specifically provided to the <br /> contrary in this lease, and <br /> 8.1.2 Emerald Valley shall promptly notify County of the creation of each such <br /> mortgage or other lien and deliver to County a true copy of the note and mortgage or other <br /> lien documents. <br /> 8.1.3 The mortgagee shall be obligated to transfer the mortgage to relocated <br /> premises, if a relocation occurs under Section 10 below. <br /> ' 8.2 ASSIGNMENT <br /> 8.2.1 Emerald Valley shall not assign or otherwise transfer Emerald Valley's interest <br /> in this lease or the estate created by this lease without the prior written consent of County, <br /> which consent shall not be unreasonably withheld. In granting or withholding such consent <br /> County shall consider the financial net worth and managerial experience of the proposed <br /> assignee regarding BMX tracks and facilities, the demonstrated ability of the proposed <br /> assignee to perform the express obligations of this lease, including the stated purpose of <br /> providing an activity for youth of the community in the form of a sport known as BMX, and <br /> any other fact necessary to County's decision making as required of an Oregon government <br /> entity. <br /> WP bc/sc/00129/C 5 <br />