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• ` LEASE AGREEMENT
<br /> This Lease Agreement is entered into as of the 10` day of March , 20 11 by and between the undersigned Lessor and Gala�cy
<br /> Fireworks, Inc. a Florida �:oFpc�atipn, 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 establiSl�jng the terms and conditions by which Lessor leases certain property to Lessee.
<br /> In considerefion tsfthe f qllowing covenants a�jd conditions, and of other consideration the receipt and sufficiency ofwhich are acknowledged, Lessor and
<br /> Less�e agree as follows: \
<br /> � '
<br /> 1 Premises Location: The property that i5 the subject of this Lease Agreement (the "Premises") is located at the following address
<br /> 5943 Gall Blvd Zephrvhills 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 du,[ing each Term (as hereinafter defined), access thereto (including the right to cross surrounding property belonging to Lessor, if
<br /> anyj; aleag_r�ith a}Yother 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 lSth 2011 until Julv 7th, 2011. Term 2 is from Dec. ISth 2011 until January7'�2012.("Initial[.easePeriod")2011-
<br /> 2016. Thereafter 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 not limited to fireworks and items incidental thereto.
<br /> 5 Renh 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 Term.
<br /> 6. Permits: Lessee agrees to acquire any and all permits required by governing authorities for Lessee's intended use ofthe Premises. If the 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 Tenn because ofan act of
<br /> God, war, executive order, ordinance, change in law, or other reasun beyond Lessor's or Lessec's control, Lessee will be relieved of its obligation to pay
<br /> rent for that T'erm, 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 L,essee'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 lnsurance: 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 �vill haul away any and all trash made by Lessee, its customers, and
<br /> vendors prior to vacating the Premises.
<br /> I i Option: Fol(owing the [nitial 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 paRicular 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 wi11 not affect subsequent years. [n the event that Lessee elects to not exercise its option for a particular year, Lessee has the
<br /> exclusive right ofrefusal to match any and all offers to lease the Premises during that year Lessor shall notify Lessee in writing ofany such offer and the
<br /> terms thereof, and provide Lessee thirty days to elect to exercise or waive the �ight 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 a long 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 /> [N 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) __ __��,Q,q '(L_ �� (Lessor)
<br /> . ---,
<br /> By• , Si nat re � By � ��� �
<br /> g Signature
<br /> Rickv Johnson, Vice-President ��� �,�,�� r �(�y��.�
<br /> Na e and Title Name and Title
<br /> v � � �Q � � �� �L 1 i
<br /> Uate S�gned Date Signed
<br /> Before me, the undersigned Notary Public, personally appeared ' �.C':�/ ` v�f� � , known to me to be the person who
<br /> executed the foregoing Lease Agreement, and she/he acknowled ged to and be ore me that she/he ex ec u t e d s u c h i n s t r u m e n t a n d a g r e e s t o f u l l y c o m p l y
<br /> therewith.
<br /> IN W[TNESS HF,REOP, I have set nd s l this� day of ��K�� Zp�
<br /> � ��
<br /> �
<br /> Notary Public, State of Florida �
<br /> , o;�Y'ey;�. PATRICK D. COOK
<br /> = y' �' = SsiOn DD 745420
<br /> My Commission Expires ;*; :*:
<br /> �;�,�a: pire� April 3, 2012
<br /> '%;;RF �;, BandeC Thn� Troy Fain Msurence 800•306-7019
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