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LEASE AGREEMENT
<br /> This LGase Agreement is entered into as of the 10` day of March 20 11 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 Flonda 33603
<br /> ("Lessee(s)") fur the purpose of estabiishing the terms and conditions by which Lessor leases certain property to Lessee.
<br /> [n consideration ofthe following covenants and conditions, and of other consideration the receipt and sufficiency ofwhich aze acknowledgcd, Lessor and
<br /> Lessee agree as follows:
<br /> I Premises Location: The property that is tl�e subject of this Leasc Agreement (the "Premises") is located at the following address
<br /> _ 5943 Gall Bl��d Zephryhills 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 belonging to 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 entided to occupy the Premises ("Terms") are as follows:
<br /> Term 1 is from June 15th 2011 until Ju1v 7th. 2011 Term 2 is from Dec. 15th 2011 until Januarv 7�' 2012. ("Initial Lease Period") 2011-
<br /> 20] 6. Thereafrer occupancy will be determined by Lessee's election pursuant to Section 11 This Agreement shall continue in full force and effect until
<br /> the Option Periods identified in Section 11 below expire;
<br /> 4 Use: Lessee may use the Premises to sell seasonal products, including but uot limited to fueworks and items incidental thereto.
<br /> 5 Rent: Lessee will pay Lessor the sum of $2,000.00 for Term 1 and I 500.00 for term 2 which will be due and payable on the fust day of Ule
<br /> applicable Terr;i.
<br /> 6. Permits: Lessee agrees to acquire any and all permits required by goveming authorities for Lessee's intended use of the Premises. If Ihe permits are
<br /> not approved fer aay reason, this Agreemcnt will be null and void, and all deposits will be refunded to Lessee. If, a8er any necessary permits ha��e been
<br /> issued to Lessec, Lessee is prevented from using the Premises for the intended purpuse of selling fireworks during any part ofaTenn because ofan act of
<br /> God, war, executive order, ordinance, change in law, or other reasun beyund L.essor's or I,essec's control, Lessee will be relieved of iu 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 choicc and notify Lessee within ten days.of being informed by Lessee that it has been prevented from using the Premises.
<br /> 7 Indemnitica tion: Lessee shatl indemnify and hold Lessor hartnless from any and al( actions and claims resulting d'uectly and solely from Lessee's use
<br /> of the Premises, fncluding but not limited to claims by Lessee's licensees, or invitee, and trespassers.
<br /> 8. Fixtures: A 11 structures (including tents) shall Ue placed on the Premises under the approval of Lessor Any piacement shall not interfere �3�ith
<br /> Lessor's use of property surrounding the Premises. Any insta(lation shall not damage any of the Lessor's improvements on the Premises.
<br /> 9 lnsurance: Lessee shall provide Lessor with proof of liabi(ity insurance before the Term begins. Liability insurance shall be in an amount ofnot less
<br /> than $1,000,000 for each occurrence.
<br /> [0 Nlaintenance: Lessee shall maintain the Premises in an orderly manner and wi11 haul away any and all trash made by Lessee, its customers, and
<br /> �endors prior to vacating the Premises.
<br /> I 1 Option: Fellowing the Initial Lease Penod, this Agreement will remain in eflect for an additional five years ("Option Period"). However, if Lessee
<br /> �otifies Lessor 30 days in advance of a particular year during d�e 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 Scch election will not affect subsequent years. In the evcnt that Lessee elects to not excrcise 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 sl�all notify Lessee in writing of any such offer and the
<br /> ternis thereof, and provide Lessee thirry days [o elect to exercise or waive the right of first refusal.
<br /> 12. Non-compete: Lessor agrees to not sell or permit the sale of freworks by anyone other than Lessee on any property owned or leased by Lessor
<br /> within 2 miles of ttie Prcmises.
<br /> l3 Cancellation: If tlie Premises is sold, master leased on a long term basis other than for the sale of fireworks, or the law is changed to prohibit thc
<br /> �ale of fireworks for all remaining Terms, this Agreement may be canceled by either party providing thirty days written notice to the other party
<br /> :N W IT'NESS \VHEREOF, 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 representat�ves appearing below
<br /> y Fireworks, Incorporated (Lessee) ��4'(� �--�. (Lessor)
<br /> i�
<br /> s •, � i._ B _ �� � ��
<br /> Signature Signature
<br /> Rickv Johnson, Vice-President � �� � , ��,, { ��,��
<br /> Vx e and Tide T — Name and Title
<br /> � �� � � �Z � 1 i
<br /> Datc Signed Date Signed
<br /> Before me, the undersigned Notary Public, personally appeared `' C U v�lp L% known to me to be the person wfio
<br /> �xecuted lhe foregoing Lease Agreement, and she/he acknowledged to and be re me that she/he executed such instrument and agrees to fully comply
<br /> therewith.
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