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� LEASE AGREEMENT
<br /> This Lease Agreement is entered into as of the 10`h 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 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 Zephryhills FI
<br /> 2.Occupancy:Lessor represents and warrants that it owns the Preinises,and Lessor hereby grants Lessee the exclusive riglit to occupy and use the
<br /> Premises undisturbed during each Term(as heremafter 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]aws 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 7th.20ll Term 2 is from Dec. 15th 20]1 until January7'�2012,1"InitialLeasePeriod")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 Rent:Lessee will pay Lessor the sum of $2 000 00 for Tenn 1 and$1,500.00 for term 2 which will be due and payable on the first day of ihe
<br /> applicable Term.
<br /> 6. Permits:Lessee agrees to acquire any and all permits required by governing authorities for Lessee's intended use ofthe Yremises. If the permits are
<br /> not approved for any reason,tliis Agreement will be null and void,and all deposits will be refunded to Lessee. If,afrer any necessary permits have been
<br /> issued to Lessee,Lessee is prevented from using the Premises for ihe intended purpose of selling fireworks during any part oi'a Term because ofan act of
<br /> God,war,executive order,ordinance,change in law,or other reasun beyond Lessor's or Lessee's control,Lessce will be reli:;ved of its obligation to pay
<br /> rent for that Tenn,and any rent paid for that Term will either be refunded to Lessee or applied to the next Term,as Lessor chooses. Lessor shall malce
<br /> that choice and notify Lessee within ten days of being informed by Lessee that it lias been prevented from using the Premises.
<br /> 7 lndemnification:Lessee shall indemnify and hold Lessor harmless from any and all actions and claims resulhng duectly and solely from Lessee's use
<br /> of the Premises,including but not limited to claims by Lessee's licensees,or invitee,and trespassers.
<br /> 8. Pixtures:All structures(including tents)shal]be placed on the Premises under Hie approvat of Lessor Any placement shall not interfere with
<br /> Lessor's use of property surrounding the Premises. Any installation shall not damage any of ihe Lessor's improvements on the Premises.
<br /> 9 Insurance:Lessee sliall provide Lessor with proof of liability insurance before the Term begins. Liability insurance shall be in an amount of not]ess
<br /> than$],000,000 for each occurrence.
<br /> 10 Maintenance:Lessee sl�all 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 /> notif7es Lessor 30 days in advance of a particular year during the Option Period that Lessee elects to not exercise its option fi�r 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 ofrefusal to match any and all offers to lease lhe 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 tlie 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 /> withiii 2 miles of the Premises.
<br /> 13 Cancellation: If tl�e Premises is sold,master leased on a long term basis other than for the sale of fireworks,or the la�v 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 nctice to the other party
<br /> IN W[TNESS WI I�REOF,Lessor and Lessee have each caused this Agreement to be executed and to take effect as of the date first above writlen,as
<br /> evidenced by the signatures of tlieir respective duly authorized representatives appearing below
<br /> y Fireworks,Incorporated(Lessee) {_�,�Q2. �--�.—� (Lessor)
<br /> i
<br /> .
<br /> �y: '' � Z�., � /� ���
<br /> Signature � By��/�� l U V�-----
<br /> Signature
<br /> Rickv Johnson,Vice-President ___`���� � , ���`� V'�/)��,� �,�
<br /> Na c and 1'itic Name and Titic
<br /> Date Signed� ^ ��� — `� � '�'� �� �
<br /> Date Signed
<br /> Before me,ihe undersigned Notary Pubiic,personally appeared j ,C </ c� �,!'G+ .� ,known to me to be the persnn wh�
<br /> executed the foregoing Lease Agreement,and shellte acknewled�ed to and be ore me that she/he executed such instrument and agrees to fully comply
<br /> the:e���itL.
<br /> IN WITNESS HERCOP,i I�ave set m 1 nd s 1 this�day of ��L�C.�h_ �,p -._� �__
<br /> � �-t�'�---.
<br /> �
<br /> Notary Public,State of Florida PATRICK D.COOK
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<br /> �''= ��r��ssion DD 745420
<br /> My Commission Expires '*: *?
<br /> , ;;��;�; xpire April 3,2012
<br /> �� '%:;pF�;°�• 8ondeC Thru Troy Fain Insurance 800•365-7019
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