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LEASE AGREEMENT
<br /> This Lease Agreement is entered into as of the 10`� day of March
<br /> Fireworks,Inc,a F(orida 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 tlie terms and conditions by sor lOeases certain p operry to Lesseedersigned Lessor and Galaxy
<br /> I n c o n s i d e r a t i on o f t he fo l lowing covenants and conditions,and ofother consideration the receipt and sufficiency ofwhich aze acknowledged,Lessor and
<br /> Lessee agree as follows:
<br /> I Premises Location:The property that is d�e subject of this Lease Agreement(the"Premises")is located at the following address
<br /> 5943 Gall Blvd.Ze h hills FI
<br /> 2. Occupancy:Lessor represents and warrants that it owns the Premises,and Lessor hereb
<br /> Premises undisturbed during each Term(as hereinafter defined),access thereto(including the r ght to cross surround�nsive riglit to occupy and use the
<br /> any),along with all otfier rights provided to a tenant under the laws of the state of Florida. g Properry belonging to Lessor,if
<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
<br /> 2016. Thereafter occup determined by,L st ee's�elect o pursuantt o�Sectiontl]]ZOThis Agreement shall continue in fu11 force and effect until
<br /> --__unti] Janua�12�<��tial L,ease Period")2011-
<br /> the Option Periods identified in Section I1 below expire;
<br /> 4 Use:Lessee may use the Premises to sell seasonal products,including but not limited to fireworks and items incidental tliereto.
<br /> 5 Rent:Lessee will pay Lessor the sum of e
<br /> applicable Term. -�for Term] and�or term 2 which will be due and payable on the first day of tlie
<br /> 6. Permits:Lessee agrees to acquire any and ail permits re uired b
<br /> not approved for any reason,tliis Agreement wil]be null and void,and aIl deposits will be refunded to Lessee. If,after any necessary permits have been
<br /> y governing authorities for Lessee's intended use ofthe Premises. Ifthe permits aze
<br /> issued to Lessee,Lessee is prevented from using the Premises for the intended purpose of selling fireworks during any part ofa Term because ofan act of
<br /> God,war,executive order,ordinance,change in law,or other reasun�eyond Lessar's oi Lessee's control,Lessce will be relieved of its obligation to pay
<br /> rent for that Term,and any rent paid for that Term wi1]either be refunded to Lessee or applied to tlte next Term,as Lessor chooses. Lessor shall malce
<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 sliall indemnify and hold Lessor harmless from any and all actions and claims resulting d'uectly and solely from Lessee's use
<br /> of the Premises,inc]uding 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 p]acement 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 Insurance:Lessee shall provide Lessor with proofof liability insurance before ti�e Term begms. Liability insurance shall be in an amount of not less
<br /> than$1,000,000 for each occurrence.
<br /> 10. Maintenance:Lessee sha11 maintain the Premises in an orderly manner and will haul<iway 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 addrtional iive years("Option Period"). However,ifLessee
<br /> notilies Lessor 30 days in advance of a particular yeaz 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 refusaI 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 /> exciusive right of refusal to match any and all offers to lease the Premises during that year Lessor shall notify Lessee in writing ofany such offer and ffie
<br /> terms thereof,and provide Lessee thirty days to elect to exercise or waive the right of first c•efusal.
<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 /> wifl�in 2 miles of the Premises.
<br /> 13 Canccllatiou: 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 pazty providing thirty days written notice to the other party
<br /> 1N WITNESS WI-IEREOF,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 oftheir respective duly authorized representatives appearing below
<br /> y Fireworks,Incorporated(Lessee) ��'��� ��
<br /> '� (Lessor)
<br /> , � c
<br /> �y. . "'�('� sy:—r�\,� ��
<br /> Signature
<br /> Signature
<br /> Rickv Johnson Vice-President
<br /> Na c and Title �'(��� � ' �2��1'�L ! "" '—�� _�
<br /> _ � � �� Name and Title
<br /> ivate��gned '� �'� 1 �
<br /> Date Signed
<br /> Before me,the undersigned Nolary Public,persoually appeared ,.'.� -.,
<br /> executed the foregoing Lease Agreement,and she/he acknowledged to and be ore me that sh��xecu ed such inst�rnmento me to be the person who
<br /> therewith. and agrees to fully comply
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