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40 40 in as good condition as the same were at the time of the execution of this lease, ordinary wear and tear and destruction by the elements excepted. 3. It is understood and agreed by and between the parties hereto that the leased premises may be used by the Lessor at any time during the existence of this lease, or any extension thereof, for the purposes of providing water for the use of the Lessor or any of its citizens, and that in connection therewith, the Lessor reserves the right to construct wells and pumps on said leased premises for the purposes of extracting water therefrom for the use of the Lessor and its citizens, the location of same being subject to the mutual agreement of the parties. 4. It is further understood and agreed between the parties hereto that the Lessee shall at all times during the existence of this lease maintain insurance against personal injuries or property damage incurred on said property with both Lessor and Lessee herein as insured parties thereunder. 5. Prior to the termination of this lease by mutual agreement between the parties, the term may be extended for such additional time and upon such terms as the parties hereto may agree. IN WITNESS WHEREOF, this lease has been executed in duplicate on behalf of the Lessor by its Mayor and City Clerk, its duly authorized officers, and on behalf of the Lessee by the Chairman of the Board of County Commissioners and Clerk, all who have been duly authorized by resolution duly adopted by the Town Council of the Town of Indian River Shores and the Board of County Commissioners of Indian River County, Florida, the day and year first above written. Signed, sealed and delivered in the presence of: �o as(V Lessee LESSOR: NDIAN�VeRTOL HORgs�- .;� By Roland B. Miller, ayor Attes W. Yo g, Clerk ,-T"- ,�, X11: LESSEE: IINDIAN R qPU , O DA Ch r ail Board of Co my Commissioners Attest: `+ alp H ris,•.. perk ..� - OFFICIAL RECORD -2-