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LEASE AGREEMENT
<br /> This Lease Agreement is entered into as of the 1& day of March 2011 -by and between the undersigned Lessor 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 establishing the terms and conditions by which Lessor leases certain property to Lessee.
<br /> In consideration of the following covenants and conditions,and of 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 at the following address
<br /> 5943 Gall Blvd,Zenhrvhills Fl
<br /> 2.Occupancy:Lessor represents and warrants that it owns the Premises,and Lessor hereby grants Lessee the exclusive right to occupy and use the
<br /> Premises undisturbed during each Term(as hereinafter defined),access thereto(including the right to cross surrounding property belongingto Lessor,if
<br /> any),along with all other rights provided to a tenant under the laws of the state of Florida.
<br /> 3.'Perm% The periods during which Lessee will be entitled to occupy the Premises("Terms")are as follows:
<br /> Term 1 is from June 15th 20I 1 until July 7th,2011:Term 2 is from Dec.15th 20I I until Januarv7°52012,("Initial Lease Period")2011-
<br /> 2916. Thereafter occupancy will be determined by Lessee's election pursuant to Section 11, This Agreement shall continue in full force and eftectuntil
<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. Bent Lessee will pay Lessor the sum of_$2,000.00 for Term 1 and SI,500.00 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. Ifthe permits are
<br /> not approved for any reason,this Agreement will be null and void,and all deposits will be refunded to Lessee.If;after any necessary permits have been
<br /> issued to Lessee,Lessee is prevented from using the Premises for the intended purpose of selling fireworks during any part ofa Term because ofan act of
<br /> God,war,executive order,ordinance,change in law,or other reason beyond Lessor's or Lessee's control,Lessee will be relieved of its obligation to 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 prevented-from using the Premises.
<br /> 7. Indemnification:Lessee shall indemnify and hold Lessor harmless from any and all actions and claims resulting directly and solely from Lessee's use
<br /> of the Premises,including but not limited to claims by Lessee's licensees,or invitee,and trespassers.
<br /> 8. Fixtures:All structures(including tents)shall be placed on the Premises under the approval of Lessor. Any placement shall 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 proof of liability insurance before the Term begins. Liability insurance shall be in an amount ofnot less
<br /> than$1,000,000.for each occurrence.
<br /> 10. Maintenance:Lessee shall maintain the Premises-in an orderly manner and will Haul away any and-all trash made by Lessee,its customers,and
<br /> vendors prior to vacating the Premises.
<br /> 11. Option:Following the Initial Lease Period,this Agreement will remain in effect for an additional five years("Option Period"). However,if Lessee
<br /> notifies Lessor 30 days in advance of a particular year during the Option Period that Lessee elects to not exercise its option for that year,Lessee will not
<br /> be required to pay rent for that year,and Lessor will be free to rent the Premises to someone else for that year,subject to Lessee's right of first refusal set
<br /> forth below. Such election will not affect subsequent years. In the event that Lessee elects to not exercise its option for a particular year,Lessee has the
<br /> exclusive right of refusal to match any and all offers to lease the Premises during that year. Lessor shall notify Lessee in writing of any such of r 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 /> 13. Cancellation: If the Premises is sold,master leased on along term basis other than for the sale of fireworks,or the law is changed to prohibit the
<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 WITNESS WHEREOF,Lessor and Lessee have each caused this Agreement to be executed and to take effect as of the date first above written,,as
<br /> evidenced by the signatures of their respective duly authorized representatives appearing below.
<br /> y Fireworks,Incorporated(Lessee) f2— I--L4', (Lessor)
<br /> 'By: (�
<br /> Signature --., Signature p
<br /> Ricky Johnson,Vice-President
<br /> Na a and Title Name and Title
<br /> Date Signed tom. Date Signed
<br /> . Ag,&/
<br /> Before me,the undersigned Notary Public,personally appeared known to me to be the person who .
<br /> executed the foregoing Lease Agreement,and she/he acknowledged to and be ore me that she/he executed such instrument and agrees to fully comniv
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