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LEASE AGREEM NT
<br /> This Lease Agreement is entered into as of the 10a day of_ March 2011 -by and between the undersigned Lasser and Galaxy
<br /> Fireworks,Inc.a Florida.Corporation,having its principal place of business at 204 East Dr.Martin Luther King,Jr.Boulevard,Tampa Florida 33603
<br /> ("Lessee's)")for the purpose of establishiag the te=and conditions by which Lesso Ieases certain properlyto Lessee.
<br /> In consideration ofthe following covenants and conditions,and o£other consideration the receipt and sufficiency ofwhich are acknowledged,Lessor and
<br /> Lessee agree as follows:
<br /> 1.premises Location:The property that is the subject of this Lease Agreement(the"Premises")is located atthe following address
<br /> 5943 W1 B1_ysL Zephrvhills Fl
<br /> 2.Occupancy:Lessor represents and warrants that it owns the Premises,and Lessor hereby grants Lessee ttie exclusive right to occupy and use the
<br /> Premises undisturbed during each Term(as hereinafter defined),access thereto(including the right to cross surrounding properly belongingtD Lessor,if
<br /> any),along with all other rights provided to a tenant under the laws of the state of Florida.
<br /> 3.Term:. The periods during which Lessee will be entitled to occupy the Premises("Terms")are as follows:
<br /> Term 1 is from June 15th 2011 until July 7th,2011:Terns 2 is from Dec.15th 2011 until January-/"2012.(`Initial l tasePerbd")201I-
<br /> 2916. Thereafter occupancy will be determined byLessee's election pursuant to Section 11. This Agreement shall continuein fun force and offectunt0
<br /> the Option Periods identified in Section I I below expire,
<br /> 4. Use:Lessee may use the Premises to sell seasonal products,including but not limited to fireworks and items incidental thereto.
<br /> 5. Rent:Lessee will pay Lessor the sum of V.000.00 for Term I and$1.50G.00 for term 2 which will be due and payable on the first day of the
<br /> applicable Term.
<br /> 6,permits:Lessee agrees to acquire any and all permits required by governing authorities for Lessee's intended use ofthe Premises.If thepermits are
<br /> not approved for any reason,this Agreement will be mull and void,and all deposits will be refundedto Lessee.X after any necessary permits have been
<br /> issued to Lessee,Lessee is prevented from using the Premises for the intended purpose ofselling fireworks during any partofaTerm became ofan act of
<br /> Grad,war,executive order,ordinance,change in law,or other reason beyond Lessor's or Lessot s control,Lessee will be relieved of its obligationto pay
<br /> rent for that Term,and any rent paid for that Term will either be refunded to Lessee or applied to the next Term,as Lessor chooses. Lessor shall make
<br /> that choice and notify Lessee within ten days.of being informed by Lessee that it has been preveoted•from using the Premises.
<br /> 7.Indemnification:Lessee shall indemnify and hold Lessor harmless from any and all actions and claims resulting directly and solelyfrom Lessee's use
<br /> of the Premises,including but not limited to claims by Lessee's licensees,or invitee,and trespassers.
<br /> 8. lr=tures:AN structures(including tents)shall be placed on the Premises under the approval of Lessor. Any placement sball not interfere with
<br /> Lessor's use of property surrounding the Premises. Any installation shall not damage any of the Lessor's improvements on the Premises.
<br /> 9.Insurance:Lessee shall provide Lessor with propfofliability insurance before the Tt=begins.Liability insurance shall be in an amount ofaot less
<br /> than$1,000,000.for each occurrence.
<br /> 10. Maintenance:Lessee shall maintain the Promises-in an orderly manner and will haul away any and all trash made by Lessee,its gpstomers,and
<br /> vendors prior to vacating the Premises. '
<br /> 11.Option:Foilowingtheln£tiaiLeasePeriod,thisAgreementwillremainineflectforanadditionalfiveyears("OpticnPeriod").However iflessee
<br /> notifies Lessor 30 days in advance of a particular year during the Option Period thatLessec elects to not exercise its option forthatyear,Lessee will not
<br /> be required to pay rent for thatyear,and Lessor will be free to resit the Premises to someone else for thatyea,subject to Lessee's right offrstref tsal set
<br /> forth below. Such election will not affect subsequent years.In the eventthat Lessee elects to not exercise its option for aparticulary=7 Lessee has the
<br /> exclusive right ofrefusal to match any and all offers to lease the Premises during thatyear.Lessor shall notify Lessee in writing ofaay such offer andthe
<br /> terms thereof,and provide Lessee thirty days to elect to exercise or waive the right of first refusal.
<br /> 12. Non-compete:Lessor agrees to not sell or permit the sale of fireworks by anyone other than Lessee on any property owned or leased by Lessor
<br /> within 2 miles of the Premises.
<br /> U. Cancellation: If the Premises is sold,master leased on a longterm basis other than for the sale of fireworks,or the law is changed to prohibitthe
<br /> sale of fireworks for all remaining Terms,this Agreement may be canceled by either party providing thirty,days written notice to the other party.
<br /> IN WITNQESS WHEREOF,Lessor end Lessee have each caused this Agreement to be executed and to take effect as of the date first above written,is
<br /> evidenced by the signatures of their respective duly authorized representatives appearing below.
<br /> Fireworks,Incorporated(Lessee) ,,r-qAD 2 - (Lessor)
<br /> ILBy: By:
<br /> Signature Signature AiekY Johnson.Vice-President LA 1 ,.�©- f Z di w6e- ,
<br /> Na c and Title Name and Title
<br /> 7
<br /> Date Signed Bate Signed
<br /> Before me,the undersigned Notary Public,personally appeare *beme
<br /> '` cZ �l'o..% known to me to be the person who .
<br /> executed the foregoing Lease Agreement,and sbethe acknowledged to an that she/he executed such instrument and agrees to fully comply
<br /> therewith.
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