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Page 2 including all buildings, improvements, machinery and equipment located on said leased premises owned by the Lessor. TO HAVE AND TO HOLD the same for a term of five (5) years beginning on the expiration of the initial term of said Lease Agreement, dated October 24 , 1960, and the Lessee hereby agrees to pay therefor a monthly rental of Two Hundred Eighty Dollars ($280.00), payable in advance on the first business day of each month during said term to the Lessor. Said leased premises may be used for the manufacture of shoe products and rubber goods or for any other lawful purpose. PROVIDED ALWAYS, that this renewal lease is entered into upon the following terms and conditions, all of which the parties hereto covenant to keep and perform: 1. The Lessee agrees that in the use and occupancy of said buildings, it will at all times comply with all applicable sanitary and safety laws, rules and regulations, and will commit no nuisance upon the premises and will permit no nuisance to be committed upon the premises by others. 2. The Lessee agrees to keep the buildings upon the above described site and the machinery and equipment installed therein owned by the Lessor insured against loss or damage by fire with Uniform Standard Extended Coverage Endorsement covering perils of windstorm, hail, explosion, riots, civil commotion, aircraft, vehicles and smoke (except as limited in the present Uniform Standard Extended Coverage Endorsement) in an amount not less than the option price specified in Paragraph 11, and to pay the premiums thereon and to keep said insurance in full force and effect during the entire term of this lease and any extension thereof. Each policy shall be so written or endorsed as to make losses, if any, payable to the Lessor and the Lessee as their respective interests may appear. A duplicate copy or "Certificate" of each such policy of insurance shall be furnished to the Lessor for its records. 3. The Lessee agrees that, during the term of this lease and during the term of this lease as extended, if extended, it will keep the leased premises and all buildings and improvements thereon and the appurtenances thereto and the equipment and