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<br /> <br />-. '-. _. ,- ----... <br />---- - '-- -. -~. -.. -.--.,. <br /> <br />LEASE AGREEMENT with PURCHASE OPTION <br /> <br />This lease/option to purchase agreement was entered into on October 26, 2007, <br />between Raby D. Williams Jr. and Alan D. Davidson, individuals, residing at 3410 Tally <br />Court, Tampa, FL 33618, referred to as "lessor," and Richard S. Hawthorne Sr, an <br />individual, dlb/a Pasco Power Equipment, to have its principal place of business at 5117 ' <br />Gall Boulevard, Zephyrhills, Pasco County, Florida, referred to as "lessee." <br /> <br />SECTION ONE <br /> <br />DESCRIPTION OF PREMISES <br /> <br />Lessor leases to lessee the premises located at 5117 Gall Boulevard, Zephyrhills, <br />Pasco County, Florida, and described more particularly as follows: <br /> <br />Legal Description <br />11-26-21-0010-18500-0070 <br />Assessed in Section 11, Township 26 South, <br />Range 21 East <br />Pasco County, Florida <br /> <br />CITY OF ZEPHYRHILLS PB 1 PG 54 LOTS 7-12 <br />INCL BLOCK 185 OR 4749 PG 1099 <br /> <br />SECTION TWO <br />TERM <br /> <br />The term of this lease/Qptionto purchase agreement is two years, beginning on <br />October 26,2007, and terminating on October 26, 2009. <br /> <br />SECTION THREE <br />RENT <br /> <br />A. The total rent under this lease/option to purchase agreement is $64,800. <br /> <br />B. Lessee shall pay Lessor's mortgage holder the above-specified amount in <br />installments of $2,700 each month, beginning on November 1, 2007, with succeeding <br />payments due on the 5th of each month. Payments received by the mortgage company <br />after 5:00 PM on the 5th of the month will incur a late fee of $133.77 and Lessee is <br />responsible for payment of the late fee if one is incurred. A payment for sales tax, in the <br />amount of $182.59 will be paid by Lessee to Lessor each month, due on the 5lh of each month. <br /> <br />Page 1 of 10 <br />