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LEASE AGREEMENT
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<br /> This Lease Agreement is entered into as of the� I& day of_Mara_ 20-I1 —-by and between the undersigned Lessor and Galaxy
<br /> FiTeworks,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"Premiseslo is located at the following address
<br /> - 5943 Gall Blvd,ZephryhiUs,F1
<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 undfstuKbed during each Terra(as hereinafter defined),access thereto(including the rightto oross 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.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 Ith,2011:Term 2 is from Dec.-15th 2011 until January 7s'2012,(`Initial Lease Period` 2011-
<br /> 2016. Thereafter occupancy will be determined by Lessee's election pursuant to Section 11. This Agreement shall continue in full force and eff=tuntU
<br /> the Option Periods identified in Section 11 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 $2.000.00 for Term I and$1.500,00 for term 2 which will be due and payable on the first day of the
<br /> applicable Tenn.
<br /> 6. Permits:Lessee agrees to acquire any and all permits required by governing authorities for Lessee's intended use oftheFTemises. If the permits ue
<br /> not approved for any reason,this Agreement will be null and void,and all deposits will be refunded to Lessee.if,after any necessarypermits 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 of an 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 soIelYfrom 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 Lessorwith proof of liability insurance before the Term begins.Liability insurance shall be in an axnountofnot less
<br /> than$1,000,000.for each occurrence.
<br /> 10. Maintenance:Lessee shall maintain the Premisevin 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 effbotfor an additional&eye=("Option ForicdO.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 particularyear,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 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 /> 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 /> se-le 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 /> jazlav Fireworks,Incorporated(Lessee) (Lessor)
<br /> By. By:
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<br /> Signature— Signature
<br /> RickyJohnson.Vice-PresidentA",k2,-
<br /> Name and Title Name and Title
<br /> r
<br /> Bate Signed Date Signed
<br /> Before me,the undersigned Notary Public,personally appeared
<br /> C' known to me to be the person who
<br /> executed-the foregoing Lease Agreement and she/he acknowledged to and before me that she/he executed such instrument and agrees to fully comply
<br /> therewith.
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