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Lessor City of Sunny Isles Beach <br />Aft Finance Director <br />15070 Collins Avenue <br />Sunny Isles Beach, FL 33160 <br />Lessee: American Federated Tide Corp. as Trustee <br />Attn: Robert M. C mfeld <br />3850 Hollywood Boulevard, Suite 400 <br />Hollywood, FL 33021 <br />Lessee's Fed Tax ID No: <br />Premises: The hnataurant facility, bait shop, and second floor of <br />restaurant facility located at 16501 Collins Avenue, Sunny <br />Isles Beach, FL 33160, as generally described in Exhibit <br />"C". Upon delivery of additional "outdoor dining" areas to <br />LESSEE, the term Premises shall include the outdoor <br />dining areas located on de North and Northwest/Southwest <br />areas of the restaurant and bait shop building. <br />Notwithstanding the foregoing, the term Premises shall not <br />include outdoor dining areas except if the LESSO-It is able <br />to obtain peruission f -,m panutting agency to use such <br />area for dining purposes and the Rent is adjusted for use of <br />such areas for dining purposes. <br />Initial Term: 20 (twenty) years, commencing on the Effective Date. <br />Renewal Terms: 3 (three) terms of 20 (twenty) years, and another I (one) <br />term of 10 ( ten) years as provided in Section 4. The Initial <br />Term and any Renewal Terms, if exercised, are collectively <br />referred to herein as the "Term ,. <br />Rent: Ten Thousand Dollars ($10,000.00) per month, subject to <br />adjusgnem as provided in Section 5. Rem may increase <br />upon the negotiating of the use of outdoor dining areas. <br />Permitted Use: Restu u=4 bait shop and permitted ancillary uses. <br />SECTION 2. USE OF PRFMUES AND COMMONS OF PREMISE.4. <br />(a) LESSEE shall use the Leased Premises solely for the Permitted Uses. The <br />Permitted Uses are retail sale of food items, alcoholic beverages, and fishing supplies to the <br />patrons of the Pier in compliance with federal, state, and local laws. LESSEE may not use the <br />Premises for any other purpose without obtaining the prior written consent of LESSOR, which <br />consent shall not be unreasonably withheld. Lessee shall sell only frozen bait at the bait shop. <br />Live bait shall not be sold at the bait shop. No outdoor dining slmall take place on the Premises <br />or the Pier unless approved by the City. <br />3 <br />