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2. AGREEMENT TO EXTENT OF USE: This lease is given to the Lessee to use or occupy the leased premises
<br /> only for those activities specified herein and as conditioned by the State of Florida Department of Environmental Protection
<br /> Consolidated Joint Coastal Permit. The Lessee shall not(i)change or add to the approved use of the leased premises as
<br /> defined herein(e.g.,from commercial to multi-family residential,from temporary mooring to rental of wet slips,from rental
<br /> of wet slips to contractual agreement with third party for docking of cruise ships,from rental of recreational pleasure craft
<br /> to rental or temporary mooring of charter/tour boats,from loading/offloading commercial to rental of wet slips,etc.);(ii)
<br /> change activities in any manner that may have an environmental impact that was not considered in the original authorization
<br /> or regulatory permit;or(iii)change the type of use of the riparian uplands or as permitted by the Lessee's interest in the
<br /> riparian upland property that is more particularly described in Attachment B without first obtaining a regulatory
<br /> permit/modified permit,if applicable,the Lessor's written authorization in the form of a modified lease,the payment of
<br /> additional fees,if applicable,and,if applicable,the removal of any structures which may no longer qualify for authorization
<br /> under the modified lease. If at any time during the lease term this lease no longer satisfies the requirements of subparagraph
<br /> 18-21.011(1)(b)7.,Florida Administrative Code,for a fee waived lease,the Lessee shall be required to pay an annual lease
<br /> fee in accordance with Rule 18-21.011,Florida Administrative Code,and if applicable,remove any structures which may
<br /> no longer qualify for authorization under this lease.
<br /> 3.EXAMINATION OF LESSEE'S RECORDS: The Lessor is hereby specifically authorized and empowered to
<br /> examine,for the term of this lease including any renewals,plus three(3)additional years,at all reasonable hours,the books,
<br /> records,contracts,and other documents confirming and pertaining to the computation of annual lease payments as specified
<br /> in paragraph two(2)above.
<br /> 4.MAINTENANCE OF LESSEE'S RECORDS: The Lessee shall maintain separate accounting records for:
<br /> (i)gross revenue derived directly from the use of the leased premises,(ii)the gross revenue derived indirectly from the use
<br /> of the leased premises,and(iii)all other gross revenue derived from the Lessee's operations on the riparian upland property.
<br /> The Lessee shall secure,maintain and keep all records for the term of this lease and any renewals plus three(3)additional
<br /> years. This period shall be extended for an additional two(2)years upon request for examination of all records and
<br /> accounts for lease verification purposes by the Lessor.
<br /> 5. PROPERTY RIGHTS: The Lessee shall make no claim of title or interest to said lands hereinbefore described
<br /> by reason of the occupancy or use thereof,and all title and interest to said land hereinbefore described is vested in the
<br /> Lessor. The Lessee is prohibited from including,or making any claim that purports to include,said lands described or the
<br /> Lessee's leasehold interest in said lands into any form of private ownership,including but not limited to any form of
<br /> condominium or cooperative ownership. The Lessee is further prohibited from making any claim,including any
<br /> advertisement,that said land,or the use thereof,may be purchased,sold,or re-sold.
<br /> 6. INTEREST IN RIPARIAN UPLAND PROPERTY: During the term of this lease,the Lessee shall maintain the
<br /> interest in the riparian upland property that is more particularly described in Attachment B and by reference made a part
<br /> hereof together with the riparian rights appurtenant thereto,and if such interest is terminated,the lease may be terminated at
<br /> the option of the Lessor. Prior to sale and/or termination of the Lessee's interest in the riparian upland property,the Lessee
<br /> shall inform any potential buyer or transferee of the Lessee's interest in the riparian upland property and the existence of this
<br /> lease and all its terms and conditions and shall complete and execute any documents required by the Lessor to effect an
<br /> assignment of this lease,if consented to by the Lessor. Failure to do so will not relieve the Lessee from responsibility for
<br /> full compliance with the terms and conditions of this lease which include,but are not limited to,payment of all fees and/or
<br /> penalty assessments incurred prior to such act.
<br /> 7. ASSIGNMENT OF LEASE: This lease shall not be assigned or otherwise transferred without prior written
<br /> consent of the Lessor or its duly authorized agent. Such assignment or other transfer shall be subject to the terms,
<br /> conditions and provisions of management standards and applicable laws,rules and regulations in effect at that time. Any
<br /> assignment or other transfer without prior written consent of the Lessor shall be null and void and without legal effect.
<br /> 8. INDEMNIFICATION/INVESTIGATION OF ALL CLAIMS: The Lessee shall investigate all claims of every
<br /> nature at its expense. Each party is responsible for all personal injury and property damage attributable to the negligent acts
<br /> or omissions of that party and the officers,employees and agents thereof. Nothing herein shall be construed as an
<br /> indemnity or a waiver of sovereign immunity enjoyed by any party hereto,as provided in Section 768.28,Florida Statutes,
<br /> as amended from time to time,or any other law providing limitations on claims
<br /> Page 2 of 33 Pages
<br /> Sovereignty Submerged Lands Lease No. 130174356
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