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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 /> Environmental Resource 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
<br /> 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
<br /> 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
<br /> 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
<br /> 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
<br /> 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 and 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
<br /> 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 terns,
<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 arising out of this lease at its expense , and shall indemnify, defend and save and hold harmless the Lessor and
<br /> the
<br /> State of Florida from all claims, actions , lawsuits and demands arising out of this lease .
<br /> Page 2 of 16 Pages
<br /> Sovereignty Submerged Lands Lease No . 310008014
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