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ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION AGREEMENT THIS AGREEMENT is entered into as of the 19th day of March 2024 by and between Indian River County, a political subdivision of the State of Florida ("County"), and Mod Units LLC., a Florida corporation ("Business") WHEREAS, County has adopted the Indian River County Economic Development Ad Valorem Tax Exemption Ordinance ("Ordinance"), set forth in Title XI of the Indian River County Code ("Code"); and WHEREAS, County has adopted Ordinance No. 2024- 006 ("Exemption Ordinance") granting an economic development ad valorem tax exemption ("Exemption") to Business; and WHEREAS, the Ordinance and the Exemption Ordinance both provide that the Exemption shall not be effective until County and Business enter into this Economic Development Ad Valorem Tax Exemption Agreement ("Agreement") NOW, THEREFORE, in consideration of the mutual undertakings herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree, as follows: 1. Recitals. The above recitals are true and correct and are incorporated herein. 2. Definitions. Unless otherwise stated, all capitalized terms herein shall have the meaning set forth in the Ordinance. 3. Business' Representations, Covenants, and Warranties. At all times during the term of the Exemption, Business represents, covenants and warrants to County that: (a) all information submitted by Business in the Application is, and was at the time of submittal, true and correct, (b) all information submitted by Business in any annual report submitted pursuant to section 1100.10(b) of the Code will be, at the time of submittal, true and correct, (c) each representation previously made by Business to County's Board of County Commissioners in a public meeting was, and each representation made by Business to County's Board of County Commissioners in the future will be, at the time of such Page I of 5