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A TRUE COPY
<br />CERTIFICATION ON LAST Mi
<br />J.R. SMITH. CLERK
<br />3. SUBMITTING ANNUAL CERIII-IED FINANCIAL RECORDS: Within 30 days after each anniversary of the
<br />effective date of this lease, the Lessee shall submit annual certified financial records of income and expenses to the State of
<br />Flonda Department of Environmental Protection, Division of State Lands, Bureau of Public Land Administration, 3900
<br />Commonwealth Blvd, MS 130, Tallahassee, FL 32399. "Income" is defined in subsection 18-21.003(31), Florida
<br />Administrative Code. The submitted financial records shall be certified by a certified public accountant.
<br />4. EXAMINATION OF LESSEE'S RECORDS: The Lessor is hereby specifically authorized and empowered to
<br />examine, for the term of tlus 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 in
<br />paragraph two (2) above.
<br />5. 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 of
<br />the leased premises, and (iii) all other gross revenue derived from the Lessee's operations on the riparian upland property. The
<br />Lessee shall secure, maintain and keep all records for the term of this lease and any renewals plus three (3) additional years.
<br />This period shall be extended for an additional two (2) years upon request for examination of all records and accounts for lease
<br />verification purposes by the Lessor .
<br />6. PROPERTY RIGHTS: The Lessee shall make no claim of title or interest to said lands hereinbefore described by
<br />reason of the occupancy or use thereof, and all title and interest to said land hereinbefore described is vested in the Lessor.
<br />The Lessee is prohibited from including, or making any claim that purports to include, said lands described or the Lessee's
<br />leasehold interest in said lands into any form of private ownership, including but not limited to any form of condominium or
<br />cooperative ownership. The Lessee is further prohibited from making any claim, including any advertisement, that said land,
<br />or the use thereof, may be purchased, sold, or re -sold.
<br />7. INTEREST IN RIPARIAN UPLAND PROPERTY: During the term of this lease, the Lessee shall maintain
<br />satisfactory evidence of sufficient upland interest as required by paragraph 18-21.004(3)(b), Florida Administrative Code, in the
<br />riparian upland property that is more particularly described in Attachment A and by reference made a part hereof together with
<br />the riparian rights appurtenant thereto. If such interest is terminated or the Lessor determines that such interest did not exist on
<br />the effective date of this lease, this lease may be terminated at the option of the Lessor. If the Lessor terminates this lease, the
<br />Lessee agrees not to assert a claim or defense against the Lessor arising out of this lease. Prior to sale and/or termination of the
<br />Lessee's interest in the riparian upland property, the Lessee shall inform any potential buyer or transferee of the Lessee's interest
<br />in the nparian upland property and the existence of this lease and all its terms and conditions and shall complete and execute
<br />any documents required by the Lessor to effect an assignment of this lease, if consented to by the Lessor. Failure to do so will
<br />not relieve the Lessee from responsibility for full compliance with the terms and conditions of this lease which include, but are
<br />not limited to, payment of all fees and/or penalty assessments incurred prior to such act.
<br />8. ASSIGNMENT OF LEASE: This lease shall not be assigned or otherwise transferred without prior written
<br />consent of the Lessor or its duly authonzed agent. Such assignment or other transfer shall be subject to the terms, conditions
<br />and provisions of management standards and applicable laws, rules and regulations in effect at that time. Any assignment or
<br />other transfer without prior written consent of the Lessor shall be null and void and without legal effect.
<br />9. 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 or
<br />omissions of that party and the officers, employees and agents thereof. Nothing herein shall be construed as an indemnity or a
<br />waiver of sovereign immunity enjoyed by any party hereto, as provided in Section 768.28, Florida Statutes, as amended from
<br />time to time, or any other law providing limitations on claims.
<br />10. NOTICES/COMPLIANCE/TERMINATION: The Lessee binds itself, its successors and assigns, to abide by the
<br />provisions and conditions herein set forth, and said provisions and conditions shall be deemed covenants of the Lessee, its
<br />successors and assigns. In the event the Lessee fails or refuses to comply with the provisions and conditions herein set forth,
<br />or in the event the Lessee violates any of the provisions and conditions herein set forth, and the Lessee fails or refuses to
<br />comply with any of said provisions or conditions within twenty (20) days of receipt of the Lessor's notice to correct, this lease
<br />may be terminated by the Lessor upon thirty (30) days written notice to the Lessee. If canceled, all of the above-described
<br />parcel of land shall revert to the Lessor. All notices required to be given to the Lessee by this lease or applicable law or
<br />administrative rules shall be sufficient if sent by U.S. Mail to the following address:
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<br />Sovereignty Submerged Lands Lease No. 310345813
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