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NOW, THEREFORE, in consideration of the mutual covenants contained herein, <br /> and other good and valuable consideration, the receipt and sufficiency of which are <br /> hereby acknowledged,Landlord and Tenant agree as follows: <br /> WITNESSETH : <br /> 1. RECITATIONS. The foregoing "WHEREAS" clauses are hereby adopted and <br /> incorporated herein. <br /> 2. LEASED PROPERTY. <br /> Landlord hereby leases to Tenant that certain real property located in the 1200 block on <br /> the south side of 16th Street, Vero Beach, Indian River County, Florida, consisting of <br /> 69,870 square feet of land, as more particularly described in Exhibit A attached hereto <br /> and incorporated herein, hereinafter"Premises." <br /> 3. RESERVATION OF ACCESS EASEMENT. <br /> Landlord reserves a non-exclusive right of access, "Access Easement," over the westerly <br /> 40 feet +/- of the Premises to access Landlord's adjacent facilities as depicted in Exhibit <br /> B attached hereto and incorporated herein. <br /> 4. TERM; OPTION TO RENEW. <br /> (a) The initial term of this Agreement shall be forty (40) years, commencing <br /> on , 2013, and terminating on , 2053. <br /> (b) This Agreement may be renewed for three additional ten(10)year terms at the <br /> conclusion of the initial term and each of the two successive terms; provided, however, <br /> that Tenant is not in default hereunder, and provided that both parties agree to such <br /> renewal in writing at least sixty days prior to the termination of the initial term and the <br /> termination of each successive term. <br /> 5. RENT. <br /> During the term(s) of this Agreement, Tenant shall pay Landlord rent in the amount of <br /> twenty-five ($25.00) dollars per year upon execution of this Agreement and thereafter <br /> annually on or before the anniversary of the execution date of this Agreement. In addition <br /> to the above rental payments, Tenant shall pay all applicable taxes, fees, and assessments, <br /> if any. Such rental payments shall be subject to adjustment for any renewal terms by <br /> agreement of the parties. <br /> 6. TERMINATION OF AGREEMENT BY TENANT. <br /> Tenant may terminate this Agreement at any time by providing sixty days written notice. <br /> CADocuments and Settings\Bfreeman\Local Settings\Temporary Internet Files\OLK69\Transit Hub lease 4 11 2013.doc2 <br />