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SECTION I - LEASE Background Facts. The Background Facts are agreed to be true and correct are incorporated herein by this reference. 1. Property and Term of Lease. The County leases to Concessionaire and Concessionaire leases from County, the snack bar/concession area at Sandridge Golf Club consisting of approximately 1705 sq. ft. of space inside the Golf Club, as more particularly described on Exhibit "A" attached hereto and by this reference incorporated herein, for a term of sixty (60) months commencing on April 1, 2015 and terminating on March 31, 2020. Concessionaire shall be permitted to operate at other locations at Sandridge Golf club subject to the designation and approval of the County. 2. First Month's Rent. The rent shall be paid as follows: Concessionaire agrees to advance a good faith estimate of the first month's rent in the amount of Two Thousand Dollars ($2,000.00) due on before April 1, 2015 to be offset and adjusted against the actual rent due and payable in accordance with the successive recurring monthly rent calculation as particularly described in Section 3 below. 3. Recurring Monthly Rent Calculation. The monthly rent shall be payable at the rate of ten (10) percent of all food and non-alcoholic beverage gross income and fifteen (15) percent of alcoholic beverage gross income (from whatever source including but not limited to special events and vending operations) per month payable in arrears on the fifth day of each month. If the fifth day of the month is a Saturday, Sunday or a holiday recognized by the County, then on the next business day. After the 5th of the month, a late fee of $50.00 per day will be assessed. The monthly rent payment shall be accompanied by a monthly report of daily receipts in a form similar to the report attached to this lease as Exhibit "B". Daily dated cash register tapes or copies thereof shall be attached to the monthly reconciliation report or retained by Concessionaire for a period of three (3) years and made available for examination to the County upon 24-hour request. The parties agree to make best efforts to connect all transactions contemplated by this Agreement into any "point of sale" system utilized by the County in the Pro Shop and Golf operations. 4. Length of Lease. The Agreement shall be for an original fixed term of five (5) years from the date of execution subject to early termination pursuant to its term, and thereafter renewable for successive one (1) year terms for a maximum term of ten (10) years. However, the County may extend or renew this Agreement with Concessionaire if deemed to be in the best interest of Indian River County. Renewal of the mutually agreeable terms and conditions shall be completed sixty (60) days prior to each Agreement period. 5. Security Deposit. Concessionaire shall pay a security deposit to the County in the amount of $1,000.00. The security deposit is refundable upon termination of this Agreement after satisfactory inspection of the leased premises by County. 6. Use of Leased Premises. During the term of this Agreement, Concessionaire shall use the leased premises for operation of a food concession and banquet facility, etc. Concessionaire 2