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LEASE AGI2�EIVIENT
<br /> This Lease Agreement is�entered�into as of the 10`h day of March �
<br /> Fireworks,Inc.a Florida Corporation,having its principal place of busine ast Dr1Martin Luther Kin�,JrhBou evardnTa npa Floarni a 331603
<br /> ("I.essee(s)")for the purpose of establishing tl�e terms and conditions by which Lessor leases certain properry to Lessee.
<br /> In consideration ofthe following covenants and conditions,and of other consideration the receipt and suffciency ofwhich are acknow]edged,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 Zephrvhills Fl
<br /> 2.Occupancy:Lessor represents and warrants that it owns the Premises,and Lessor hereby grants Lessee tl�e exclusive right to occupy and use the
<br /> Premises undisturbed during each Term(as hereinafter defined),access thereto(including the right to cross surrounding properiy 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 201 I until Julv 7th 201� Term 2 is from Dec. 15th 2011 until_Januat�°i2012("InitialLeasePeriod")2011-
<br /> 2016 Thereafter occupancy will be determined by Lessee's e]ection pursuant to Section 11 This Agreement shall continue in ful(force and effect until
<br /> the Option Periods identified in Section 1 I 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 wi]I 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 first day of the
<br /> applicable Term.
<br /> 6 Permits:Lessee agrees to acquire any and all permits required by goveming authorities for Lessee's intended use ofthe Premises. Tfthe permits are
<br /> not approved for any reason,this Agreement will be null and void,and atl 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 se]ling fireworks during any part of a Tenn because of an act of
<br /> God,war,executive order,ordinance,change in law,or other reasun beyond Lessor's or Lessea's control,Lessee will be relieved of its obligation to pay
<br /> rent for tliat 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 solely from Lessee's use
<br /> of tlie Premises,including but not limited to claims by Lessee's licensees,or invitee,and trespassers.
<br /> 8. Fixtures:All structures(including tents)shal]be placed on Uie Premises under the approval of Lessor Any placement shall not inferPere with
<br /> Lessor's use of property surrounding the Premises. Any installation shal]not damage any of the Lessor's improvements on the Premises.
<br /> 9 Insurance:Lessee shall provide Lessor with prooFof 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 1Vlaintenance:Lessee shail maintain the Premises in an orderly manner and will haul away any and a11 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 f ve yeazs("Option Period"). However,if Lessee
<br /> notifies Lessor 30 days in advance of a particular year during the Option Period that L.essee elects to not exercise its option for that year,Lessee wi11 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 frst refusal set
<br /> forth below Such election will not affect subsequent years. In tl�e event that Lessee elects to not exercise its option for a particular year,Lessee has the
<br /> exclusive riglit 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 and die
<br /> terms thereof,and provide Lessee thiriy days to elect to exercise or waive the right of first refusal.
<br /> 12. Non-compete:Lessor agrees to not se11 or permit the sale of fireworks by anyone other than Lessee on any properry owned or leased by Lessor
<br /> within 2 miles of tlte Premises. "'�l
<br /> 13 Cancellation: If the Premises is sold,master]eased on a long term basis other than for tUe sale of fireworks,or the law is changed to prohibit the
<br /> sz?e of fireworks for all remaining Terms,this Agreement may be canceled by eiYher party providing thirty days written notice to the other party
<br /> IN WIT'NESS WHEREOF,Lessor and Lessee have each caused this Agreement to be executed and to take effect as of the date first above writYen,as
<br /> evidenced by the signatures of their respective duly authorized representatives appearing below
<br /> y Fireworks,Incorporated(Lessee) ' ���� ��
<br /> �` (I,essor)
<br /> BY� � G/\,'1 1' V�-------
<br /> Signature �--� BY�_-
<br /> Signature
<br /> Rickv Johnson.Vice-President ,rp , A t•� � ���� r���a �
<br /> Na c and Tttle �v� f-7z
<br /> _ � ��� Namc and Title
<br /> Date Si�gn¢tl `� ��- �� �
<br /> Date Signed '
<br /> !
<br /> Before me,the unfiersigned Notary Publiq persona:ly appeared C- U �;
<br /> executed the foregoing Lease Agreement,and sheMe acknowledged to and before me that she/he executed such instrum nt a d agr es tto fnlly oomply
<br /> therewith.
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