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TO RAILWAY: General Counsel Florida East Coast Railway, L.L.C. 7411 Fullerton Street, Suite 300 Jacksonville, Florida 32256 TO LESSEE: [Insert Lessee's Name & Address] WITH A COPY TO: [Insert Name & Address, if required] Any Notice hereunder shall also be made or given to the extent required by Section 1 B hereof. 29. Governing Law This Lease shall be governed by the laws of the State of Florida. In the event any suit, action or proceeding is brought by either party with respect to this Lease, such action, suit or proceeding shall be brought in any federal or state court located in Duval County, Florida. 30. Cancel and Supersede As of the date of this Lease, this Lease supersedes that certain Lease Agreement by and between the parties hereto dated [Insert Date or N/A]. 31. Illegalily If any provision of this Lease shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired. 32. Security Deposit Upon the execution of this Lease by Lessee, and prior to the execution of this Lease by Lessor, Lessee shall remit to Lessor a security deposit in the amount of [Insert Deposit Amount] in cash or certified check or cashiers check (the "Security Deposit"). The Security Deposit represents security for the faithful performance and observance by Lessee of each and every term of this Lease. Lessor may apply all or part of the Security Deposit to any unpaid Rent as set forth in paragraph 3 of this Lease or any other charges due from Lessee under this Lease, or to cure any other default of Lessee. The Security Deposit shall not constitute liquidated damages. If Lessor uses any part of the Security Deposit, Lessee shall restore the Security Deposit to its full amount within ten (10) days after notice from Lessor. No interest shall accrue to or for the benefit of Lessee on the Security Deposit. Lessor shall not be required to keep the Security Deposit separate from its other accounts, and no trust relationship is created with respect to the Security Deposit. Lessor shall not be obligated to return the Security Deposit to Lessee upon the expirations or earlier termination of the Lease unless and until all of the following events occurs: (i) the payment in full of all Rent and other chargers due pursuant to the Lease and (ii) compliance with the terms and conditions of Sections 14 and 15 hereof including, without limitation, the repair of any and all damage to the Leased Premises. 17