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<br />07/14/2010 14:05 <br /> <br />305-529-1485 <br /> <br />I <br />WOMETCO ENT 5 FLOOR <br /> <br />PAGE 03/03 <br /> <br /> <br />Arthur Hertz <br />July 7, 2010 <br />Page 2 <br /> <br />improvements thereon €Pam the pfl)'Iflent ef real esmte taxes. The Lessee shall be <br />reSDonsible for pavrnent of real estate taxes unless the DfO'pertv is determined to be <br />exemot by the prODer authorities. i <br />": I <br />I <br />I <br />I <br />I <br />I <br /> <br />] O. Due Diligence Period. The parties agree to finalize a binding lease and development <br />a.greement within ninety (90) days from the date of approval of the Letter of Intent by <br />the City Commission. The parties may agree to extend the Due Diligence period for <br />thirty (30) days. <br /> <br />lL Termination. The Lease is subject to tennination by the City upon sixty (60) day <br />notice in the event of the Aquarium or project as contemplated is not constructed or <br />completed. I <br /> <br />12. Co...nflict. Except as otherwise amended or modified herein, the terms of the original <br />Letter of Intent shall remain in full force and effect. In the event of any contlict or <br />inconsistency between the terms of this Amendment and the Letter of Intent, this <br />Amendment shall control. <br /> <br />I trust that the foregoing minor amendments are acceptable. The Ci:t)' looks forward to working <br />with you. I <br /> <br /> <br />Agreed and Accepted: <br /> <br />at~ <br /> <br />Arthur Hertz <br />H&M Gables Invcstors, LLC <br />