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                                                                    EXHIBIT 10.7

                   PARKING LICENSE AGREEMENT, DOCKING PERMIT
                      and LEASE OF DOCK and OFFICE SPACE

     THIS AGREEMENT made as of 15 December 2000 by and between CLAM HUT, INC., a
New Jersey corporation, referred to as Landlord and NEW YORK FAST FERRY
SERVICES, INC., a New Jersey corporation, referred to as Tenant.

                                   RECITALS

     TENANT desires to enter into a lease for the pier and office owned by
Landlord located at the foot of Atlantic Avenue, Borough of Highlands, County of
Monmouth, State of New Jersey (referred to as the "Lease"), and desires to use
the parking spaces in the parking lot appurtenant to the leased premises,
together with common ingress and egress serving the entire parking lot.

     FOR GOOD AND VALUABLE CONSIDERATION, receipt of which is hereby
acknowledged, the parties agree as follows:

1.   License.  Landlord licenses to Tenant and Tenant licenses from Landlord
those certain parking spaces (125) as shown on "Exhibit A" attached and referred
to as the Parking Spaces. This License reserves the right for passenger
automobile parking only.

2.   Purpose.  Tenant shall be permitted to use the parking spaces for the
parking of passenger automobiles for individuals embarking and disembarking for
Tenant's ferries.

3.   Term.

     a.   The term of this License shall commence with the date of this license
     agreement and end the 31/st/ day of December 2001.

     b.   This License shall renew at the end of each period with terms to be
     decided upon renewal and in keeping with the requirements of the
     municipality.

4.   Access to Parking Spaces.

     a.   From the date of this license agreement to 31 December 2001.

     b.   Tenant acknowledges that Landlord requires the use of fifty percent
     (50%) of the parking spaces from 5:15 p.m. until the closing of the Clam
     Hut Restaurant each day to 31 December 2001. Landlord's use of the parking
     spaces after 31 December 2001 will be subject to the renewal of this
     agreement.

     c.   Landlord requires the use of the parking spaces on Valentine's Day on
     14 February 2001 and Ash Wednesday from 5:15 p.m. until closing of the
     restaurant.

     d.   Landlord may remove vehicles left in parking spaces for more than
     three hours after the last ferry passengers have disembarked for the day on
     each day but will not unreasonably

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     exercise this right. Vehicles so removed will be redeemed at the sole
     expense of the owner of the vehicle to include but not be limited to the
     cost of removal and storage.

     e.   The percent of use required by the Landlord and the time by which the
     space is required shall be determined by the actual experience of the
     parties once the ferry begins operation from the Landlord's site.

5.  Fee.

    a.    The license fee for the initial term of this License shall be:

          i.   $1,250.00 per week ($250.00 per day for 125 spaces @ $2.00 per
          space) with use to be from Monday to Friday only.

          ii.  Five percent (5%) of gross revenue of all excursions/charters
          originating and/or terminating at Landlord's pier.

     b.   The monthly license fee for each renewal period shall be set by
     Landlord no later than October 31/st/ of the lease term preceding renewal
     with the first increase to be determined at the end of the first year of
     this agreement and the increase not to exceed the Cost of Living Adjustment
     (COLA) for the New York metropolitan area

6.   Payment of Fee.  The monthly license fee shall be paid in advance on or
before the first day of each calendar month under this Agreement, together with
the monthly installments of rent paid pursuant to the Lease.

7.   Entry by Landlord.  On reasonable notice, Landlord may enter the space to
provide services, inspect, repair, improve or show it.  Tenant must notify
Landlord if Tenant will be away for ten days or more.  In case of emergency or
Tenant's absence, Landlord may enter the space without Tenant's consent.  To the
extent possible, entrance will be made without disrupting Tenant activities.

8.   Care of Property.  The property is deemed to be in occupiable condition on
delivery of possession to Tenant.  Tenant agrees to maintain the Property in
good condition throughout the term of the Lease, except for ordinary wear and
tear.  Tenant agrees to pay for all repairs, replacements and damages that occur
during the term of the Lease caused by its use, except for those directly caused
by Landlord.

9.   Alterations.  Tenant must get Landlord's prior written consent which will
not be unreasonably withheld, to alter, improve, paint or wallpaper the premise.
Landlord agrees to: (i) consent; or (ii) not consent within twenty days of
Tenant's written notice for Landlord's consent.  Ownership rights of
alterations, additions and improvements will be governed by Section 16.

10.  Signs.  Tenant may put signs or projections (such as a TV or radio antenna)
in or out of the windows or exteriors of the premises without Landlord's prior
consent as long as such signs or

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projections conform with all governmental rules, regulations and ordinances and
the size, color, design and location of the proposed sign or projection conforms
to the general image of the demised premises and is aesthetically pleasing and
tasteful.

11.  Other Uses.

     a.   Landlord requires that certain parking spaces (5) be reserved for its
     use at all times.

     b.   Landlord agrees to identify the Parking Spaces as being reserved for
     Landlord.

     c.   Tenant agrees that Landlord shall have no obligation, liability or
     responsibility to Tenant should any of the designated Parking Spaces be
     occupied at any time or times by persons not so authorized or directed by
     Landlord.

12.  No Assignment.  This License may not be assigned by Tenant nor the Parking
Spaces sublet in whole or in part, without in each case the prior written
consent of Landlord (which consent may be given or withheld in Landlord's sole
discretion).  This Agreement is only valid with NY Fast Ferry Services, Inc. and
its management as of the date of the execution hereof.  This agreement may not
be transferred to any parent entity, subsidiary entity or purchaser of the
tenant without the express written consent of the Landlord.

13.  Not a Bailment.

     a.   This Agreement is one of licensing in property and is not a bailment.

     b.   Tenant shall assume full responsibility for its vehicles and those of
     its employees, agents and invitees, and the contents of the vehicles.

     c.   Tenant, as a material part of the consideration to be rendered to
     Landlord under this License, to the extent permitted by law, hereby waives
     all claims against Landlord, its agents, servants or employees for loss,
     theft or damage to property and for injuries to persons in, upon or about
     the Parking Spaces; and

     d.   Tenant shall indemnify, defend and hold Landlord, its agents, servants
     and employees exempt and harmless from and on account of any damage or
     injury to any person, or to the property, goods, wares and merchandise of
     any person, arising from the use of the Parking Spaces by Tenant, its
     agents, servants, employees, contractors, invitees or licensees.

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14.  Improvements.

     a.   Tenant may not make any improvements and/or modifications to the
     parking areas without the express written permission of the Landlord.

     b.   Tenant may install a ticket booth which booth shall be removed at the
     termination of this agreement.

15.  Maintenance.

     a.   Tenant shall be responsible to maintain and leave the parking areas
     broom clean at the end of each day.

     b.   Tenant shall be responsible for the removal of snow and ice.

16.  Permission to Dock at Pier.

     a.   For consideration previously set forth herein, Landlord grants
     permission to Tenant for Tenant's use of the pier owned by Landlord at the
     foot of the Atlantic Street on the Shrewsbury River.

     b.   Tenant may install a docking barge adjacent to the end of Landlord's
     pier on the Shrewsbury.

17.  Term of Use of Pier.

     a.   The term of Tenant's use of the Pier owned by Landlord shall be
     coincident with Tenant's license for the use of Landlord's parking spaces.

     b.   Renewal of the license to use Landlord's parking spaces shall be a
     renewal of permission to dock at the pier.

18.  Use of Outbuilding.  Tenant shall have the use of the outbuilding on the
southeastern end of the property at the foot of the pier and the pier to be used
by Tenant at a monthly rental of $800.00 per month due and payable at the same
time as the payment due for the license for the parking spaces and subject to
the same terms of default.  In the event that any governing authority refuses to
permit the use of the outbuilding as a ticket booth or, having granted such
permission, rescinds same, the rent shall be reduced to $400 per month.

19.  Removal of Fixtures.

     a.   On the expiration or the sooner termination of the lease term, Tenant
     will surrender to Landlord the Property, including all buildings, the pier,
     replacements, changes, additions, and improvements constructed or placed by
     Tenant on the property, with all equipment in or appurtenant to, except all
     movable trade fixtures installed by Tenant (including but not limited to
     ramps, platforms, etc. not permanently installed as part of the dock),
     broom-clean, free of sub-tenancies, and in good condition and repair,
     reasonable wear and tear excepted.

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     b.   If Tenant has made improvements or permanently installed equipment
     that is unrelated to that operation of the Property, Tenant will have the
     right to remove the improvements and equipment provided the following
     conditions are met:

          i.  Tenant provides written notice to Landlord of its intent to remove
          the improvements and/or equipment. The notice must identify each item
          to be removed and provide a schedule for removal and any resulting
          repairs. This process must be demonstrated to be reasonably able to be
          completed prior to termination of the Lease; and Tenant agrees to
          perform all necessary repairs to the Property to correct any damage
          caused by removal of the improvements and/or equipment and to restore
          the Property to the condition it was in prior to the original
          installation of the improvements and/or equipment.

20.  Risk of Loss to Tenant.

     a.   Particularly, but not in limitation of the preceding paragraph, all
     property belonging to Tenant or any user of the Parking Spaces shall be
     there at the risk of Tenant or such other person only, and except for the
     deliberate act of Landlord or its agents or employees, Landlord, its agents
     or employees shall not be liable for injury to persons or damage to or
     theft of or misappropriation of property by any means.

     b.   Tenant shall give prompt notice to Landlord in case of any such
     injury, damage, theft or misappropriation.

     c.   In case any action or proceeding be brought against Landlord by reason
     of any obligation on Tenant's part to be performed under the terms of this
     License or arising from any act or negligence of the Tenant, or of its
     agents or employees, Tenant upon notice from Landlord shall defend the same
     at Tenant's expense by counsel reasonably satisfactory to Landlord.

21.  General Access.  Tenant's employees, agents, customers, clients and
business invitees will, at all times that Tenant is open for business, have the
free and uninterrupted right of access to the Property, with the exception that
access may be temporarily denied, without penalty to Landlord, during any
emergency that jeopardizes the public health of safety, or during any period
when denial is required by law or regulation, or when denial is necessitated by
the need to make major repairs to the Property.

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22.  Use of Spaces, Dock and Building:  Rules and Regulations.

     a.   The Parking Spaces, Dock and Building shall be used by Tenant, its
     employees, agents and business invitees, pursuant to such rules and
     regulations as Landlord shall from time to time promulgate.

     b.   If for any reason the Lease or Tenant's right to possession under the
     License shall be terminated, this License may at the option of Landlord be
     terminated at any time following written notice to Tenant.

     c.   Permitted Uses: General Office Use, and for no other use, but in no
     event, any use which will subject the Landlord or Tenant to comply with the
     provisions of ISRA, as hereinafter defined.

23.  Insurance.

     a.   Insurance Companies: It is agreed that any policies of insurance to be
     maintained by the respective parties will be obtained from good and solvent
     insurance companies authorized to do business in the State of New Jersey.

     b.   Tenant to Obtain Liability Insurance: Tenant agrees that it will, at
     its expense, maintain a policy of insurance, written by responsible
     insurance carriers, that will insure Landlord against liability for injury
     to or death of persons or damage to property occurring about the demised
     premises. The liability under insurance will be no less than $500,000 for
     any one person injured or killed, $1,000,000 for any one accident, and
     $500,000 property damage. The policy will name Landlord lessor as a loss
     payee to protect its interest as Landlord.

     c.   Worker's Compensation Insurance: Tenant will secure and maintain
     during the term of this lease and any renewal of this lease Worker's
     Compensation insurance for all of his or her employees. The Tenant will
     also require subtenant to provide Worker's Compensation insurance for all
     of their employees. The policy will include Employer's Liability Protection
     with a limit of not less than $500,000.

     d.   Comprehensive Automobile Liability Insurance: If motor vehicles are to
     be used in the course of Tenant's business, Tenant will provide
     comprehensive automobile liability insurance that complies with current New
     Jersey law regarding this coverage. The liability limits will not be less
     than one million dollars per person and three million dollars per
     occurrence for bodily injury liability and one million dollars per
     occurrence for property damage liability.

     e.   Tenant to Obtain Fire Insurance on Fixtures and Inventory: The Tenant
     agrees to maintain on all equipment in the premises, a policy of fire
     insurance in companies authorized to do business in the State of New Jersey
     of at least 75% percent of the insurable replacement value, the proceeds of
     which will, as long as this lease is in effect, be used for the replacement
     of the insured property.

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     f.   Tenant's Waiver of Casualty Insurance Proceeds: If the premises are
     damaged by fire or other casualty insured against, Tenant agrees to claim
     no interest in any insurance settlement arising out of any loss where
     premiums are paid by Landlord, or where Landlord is named as sole
     beneficiary, and that it will sign all documents required by lessor or the
     insurance company necessary in connection with the settlement of any loss.

     g.   Tenant's Failure to Insure: Should Tenant fail to keep in effect and
     pay for insurance as required by this section, the Landlord may do so. In
     that event the insurance premiums paid by Landlord will be due and payable
     by Tenant to lessor, and failure of Tenant to pay them will constitute a
     breach of this lease and shall be due and payable as additional rent.

     h.   Tenant shall provide to Landlord a copy of all insurance policies in
     effect as required by this agreement at the signing of this agreement and
     upon renewal. Landlord shall be entitled, on reasonable notice and no more
     than 4 times per year to demand proof that the insurance required is in
     force and effect.

24.  Environmental Responsibilities.  Unless otherwise specified, the following
terms will have the meanings specified below:

     a.   DEP: New Jersey Department of Environmental Protection and any
     successor agency.

     b.   EPA: United States Environmental Protection Agency and any successor
     agency.

     c.   ISRA: The Industrial Site Recovery Act, New Jersey Statutes (S)(S)
     13:1K-6 et. seq., and the rules, regulations, orders and requirements
     promulgated under the statute and any of its successor(s).

25.  Environmental Claim.

     a.   Any complaint, order, directive, claim, action, investigation,
     lawsuit, demand, citation, notice, proceeding or lien, or threatened
     complaint, order, directive, claim, action, investigation, lawsuit, demand,
     citation, notice, proceeding or lien, by any federal, state or local
     governmental entity or any other person or entity related to an
     Environmental Discharge, an Environmental Condition, or any other matter
     involving Environmental Laws that affect Tenant as the direct and proximate
     result of Tenant's use of the property, any improvements of Tenant located
     on the property, or Tenant's business conducted on the property.

26.  Environmental Condition.  Any environmental contamination or threatened
contamination of any kind or nature at, on or from the property or affecting the
surface soils, subsurface soils, surface waters or groundwater, or otherwise
caused by Tenant and/or as the direct and proximate result of Tenant's use of
the property, that violate Environmental Laws, including, without limitation,
the presence of Hazardous Substances or Wastes.

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27.  Environmental Discharge.  Any event involving an emission, spill, release
or discharge into or on the air, surface soils, subsurface soils, or any
improvements located on surface or subsurface soils; surface water or
groundwater; or the sewer, septic or waste treatment, storage or disposal
systems servicing the Property, of any Hazardous Substances or Wastes at or from
the Property or any improvements located the property, by Tenant as the direct
and proximate result of Tenant's use of the property, or by the business
conducted at the Property.

28.  Environmental Laws.  All present and future Federal, state or local laws,
ordinances, rules, regulations, opinions, orders, directives and policies as,
from time to time, may be amended, that relate to the environment, health or
worker safety including, without limitation, ISRA: the Resource Conservation
Recovery Act, 42 USCA (S)(S) 6901 et. seq.; the Comprehensive Environmental
Response Compensation and Liability Act, 42 USCA (S)(S) 9601 et. seq.; the Clean
Water Act, 33 USCA (S)(S) 1251 et. seq.; the New Jersey Spill Compensation and
Control Act, New Jersey Statutes (S)(S) 58:10-23.11 et. seq.; the New Jersey
Water Pollution Control Act, New Jersey Statutes (S)(S) 58:10A-1 et. seq.; the
Worker and Community Right to Know Act, New Jersey Statutes (S)(S) 34:5A-1 et.
seq.; and the Occupational Safety and Health Act of 1979, 29 USCA (S)(S) 651 et.
seq.

29.  Hazardous Substances or Wastes.  Any material, waste or other substance,
whether solid, liquid or gaseous, that is defined as a hazardous substance,
hazardous waste, toxic substance or toxic waste in any Environmental Laws that
are the direct and proximate result of Tenant's use of the property shall be
Tenant's responsibility.

30.  Prior Violations on Property.  It is the intent of the parties that Tenant
will not be responsible for violations of any Environmental Law that took place
prior to the start of this Lease, but will be fully responsible, at its own
costs and expense, for compliance with all Environmental Laws during the term of
this Lease, including any period during which Tenant holds over, even if these
laws expressly make compliance the responsibility of the "owner" or "operator"
of the Property.  If Tenant, during that term, fails to comply with any
Environmental Law, the full liability for expenses, obligations, damages or
claims arising from Tenant's failure to comply will be on Tenant.

31.  Right to Inspect.  Tenant will have a right to inspect the Property prior
to the start of this lease to determine if any conditions are in violation of
any Environmental Laws  The terms of this paragraph on "Environmental
Responsibilities" will not apply to conditions reported to Landlord in writing
as a result of that inspection.

     a.   If Tenant receives notice of the occurrence or existence of an
     Environmental Discharge, Environmental Condition and/or Environmental Claim
     that are the direct and proximate result of Tenant's use of the property,
     the Tenant will give Landlord immediate oral and written notice, detailing
     all relevant facts and circumstances.

                                                                    Page 8 of 16

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     b.   If Tenant fails to comply with the requirements of this paragraph,
     Landlord will have the option, but will not be obligated, to exercise any
     of its rights as provided in this Lease. Landlord or Landlord's
     representatives may enter onto the Property to take any action Landlord
     deems necessary or advisable to investigate, clean up, remove, resolve or
     minimize the impact of, or otherwise deal with, Environmental Discharge,
     Environmental Condition, and/or Environmental Claim when Landlord receives
     notice from any person, entity or other source asserting the occurrence or
     existence of an Environmental Claim on, from or pertaining to the Property.
     All costs and expenses incurred by Landlord in the exercise of its rights
     will be deemed to be additional rent under this agreement and will be
     payable by Tenant to Landlord in accordance with the provisions of this
     Lease.

     c.   If a lien is filed against the Property because of the occurrence or
     existence of any Environmental Discharge, Environmental Condition and/or
     Environmental Claim, arising from a period during which Tenant is
     responsible for compliance with Environmental Laws, Tenant, within 30 days
     from the date the lien is placed against the Property, and, in any event,
     prior to the date federal, state or local governmental authority commences
     proceedings to sell the Property pursuant to the lien, either will: (1) pay
     the claim and remove the lien from the Property; or (2) furnish to Landlord
     either: (a) a bond satisfactory to Landlord for the amount of the claim;
     (b) a cash deposit in the amount of the claim; or (c) other security
     satisfactory to Landlord in an amount sufficient to discharge the claim.
     Landlord will be authorized to call on any bond, deposit or other security
     to satisfy the claim if this action is necessary to prevent the sale of the
     lien or to otherwise protect Landlord's interest in the Property. Landlord
     will release and return any security to Tenant only after the lien has been
     removed from the Property and the casual claim has been satisfied or
     dismissed by a court of competent jurisdiction.

     d.   If any testing is done in compliance with an Environmental Law, Tenant
     will furnish Landlord with true and complete copies from samples and test
     results, if any, obtained from samples taken at and around the Property
     within three days after Tenant receives them. Tenant, simultaneously, will
     provide to Landlord (in the event of submission by Tenant), or provide to
     Landlord within three days of Tenant's receipt (in the event of receipt by
     Tenant), true, accurate and complete copies of all documents, including
     without limitation reports, submissions, notices, orders, directives,
     findings and correspondence submitted by Tenant to, or received by Tenant
     from, the DEP, the EPA, the United States Occupational Safety and Health
     Administration or any other federal, state or local governmental entity,
     pursuant to Environmental Laws. Tenant will notify Landlord in advance of
     all meetings scheduled

                                                                    Page 9 of 16

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     between Tenant and any federal, state or local governmental entity in any
     way related to any Environmental Law and Landlord may attend all of these
     meetings.

     e.   Tenant will permit Landlord representatives, including without
     limitation agents, servants, employees, legal counsel, environmental
     consultants and engineers, access during normal business hours or during
     other hours by agreement of the parties or in the event of an emergency
     related to Environmental Laws, to:

          i.   permit the parties to examine, audit, copy or make extracts from,
          all books, records and documents in the possession of Tenant, its
          agent, representatives, environmental consultants, or independent
          contractors relating to Tenant's compliance with Environmental Laws;

          ii.  inspect the Property; and/or

          iii. perform work at the Property to assure that the Property is in
          compliance with all Environmental Laws. Tenant will not restrict
          access to any part of the Property, and Tenant will not impose
          conditions to access. If Landlord chooses to perform work at the
          Property to assure that the Property is in compliance with all
          Environmental Laws, Landlord will use reasonable efforts to avoid
          interfering with Tenant's use of the Property. It is agreed that
          Landlord is not be obligated to have this work performed on weekends
          or on an overtime basis to avoid or reduce interference. On completion
          of the work Landlord will repair and restore the affected areas of the
          Property from damage caused by this work. As long as Landlord uses
          reasonable efforts and repairs and restores the damage, Tenant will
          waive any right it may have, then or in the future, to assert claims
          on its behalf against Landlord or Landlord's representative arising
          from or in any way related to interference with the right to quiet use
          and enjoyment of the Property, or otherwise relating to this work,
          including without limitation loss of income, rent or profits. If
          Landlord performs this work during the period Tenant is responsible
          for compliance with Environmental Laws, Tenant will pay Landlord a sum
          equal to all costs and expenses paid and/or incurred by Landlord in
          performing work pursuant to this subparagraph. This money will be
          payable by Tenant as additional rent.

          iv.  Tenant represents that to the best of its knowledge its Standard
          Industrial Classification (SIC) number as defined in ISRA is ________.

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          v.   If Tenant's SIC number changes, Tenant will provide Landlord with
          notice of the change within thirty days of the date it was aware of
          the change. Tenant's failure to notify Landlord will be a default
          under the terms of this Lease.

          vi.  At no expense to Landlord, Tenant will promptly provide all
          information requested by Landlord or any Federal, state or local
          governmental entity regarding Environmental Laws. Tenant will promptly
          sign these affidavits and submissions when requested to do so by
          Landlord or any federal, state or local governmental entity. If an
          affidavit or submission is inaccurate or incomplete, Tenant will
          cooperate and provide information so that it can be made accurate and
          complete. At this time Tenant will promptly sign the affidavit or
          submission.

          vii. Tenant agrees that every provision of this paragraph will survive
          the expiration or earlier termination of the term of this Lease,
          regardless of the reason for termination. It is agreed and
          acknowledged that Landlord would not have entered into this Lease but
          for the provisions of this paragraph and their survival. Tenant's
          failure to abide by the terms of this paragraph will be restrainable
          by injunction.

32.  Mortgage Priority. This lease will be and is made subject and subordinate
at all times to all mortgages, liens and encumbrances and all advances made on
them that may now or after affect the Property, building and/or land, and to all
increases, renewals, modifications, consolidations, replacements and extensions
irrespective of the time of recording without further instrument of
subordination.

33.  Condemnation.

     a.   If greater than fifty percent of the Property is taken for public or
     quasi-public use under any statute or by right of eminent domain, or by
     private purchase, this Lease will automatically terminate as of the date
     that title will be taken. If part of the Property is taken and the
     remainder becomes unusable for the purpose for which the Property is
     leased, then Landlord and Tenant each will have the right to terminate this
     Lease on 30 days notice to the other, given within 60 days following the
     date of the taking. If this Lease is terminated, the rental will be
     equitably adjusted as of the date of termination.

     b.   All compensation awarded or paid on a total or partial taking of the
     Property will belong to and will be Landlord's property without sharing by
     Tenant, whether the compensation results from diminution in value of the
     leasehold or to the fee interest in the Property.

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34. Damage to the Property.

     a.   If the property subject to this agreement and used by Tenant is
     damaged, destroyed or otherwise rendered unusable in whole or in part by
     fire or other casualty caused or insured by Tenant, Tenant will promptly
     repair the Property and restore it to substantially its prior condition.

     b.   Tenant agrees to undertake repairs will all deliberate speed and to
     complete them within a reasonable period from the date of the original
     loss.

     c.   Any obligation of Landlord to repair and restore its property will not
     extend to any of the Tenant's improvements, additions, fixtures, equipment
     or other property.

     d.   If Tenant's repairs are not completed within a reasonable period,
     Landlord may terminate this Lease by giving thirty days written notice of
     their intent to do so.

35.  Rent Abatement.  During the period from the date of the casualty until
the Property is repaired and restored, there shall be no abatement of rent if
the damage was proximately caused by Tenant or its use of the property.  It is
agreed that if the property is unusable in the reasonable discretion of the
tenant through no fault of Tenant or continued operation of the service by
Tenant is prohibited by any governmental entity or authority even though Tenant
has made its reasonable efforts to comply with such entity or authority, there
shall be a rent abatement of 100% for the time in which further operation is
prohibited.

36.  Default.  In the event of any default by Tenant under this License
continuing for 10 days after written notice of default, Landlord shall have all
rights and remedies as provided in the Lease for default.

37.  Conditions of Default.

     a.   Tenant will be in default under this lease and Landlord will have a
     right to terminate this Lease on the occurrence of any one or more of the
     following events:

     b.   If Tenant fails to pay rent or additional rent due on the date
     provided, and this failure continues for a period of 30 calendar days;

     c.   If Tenant abandons, deserts or vacates the Property;

     d.   If Tenant assigns, sublets or permits the Property to be occupied by
     someone other than Tenant, except as provided by this Lease;

     e.   If Tenant makes a general assignment for the benefit of creditors; or
     if Tenant files or has filed against it a petition to have it adjudged a
     bankrupt or a petition for reorganization or arrangement under bankruptcy
     law (unless, in the case of a petition filed against Tenant, it is
     dismissed within sixty days); or if a trustee or receiver is appointed to
     take possession of

                                                                   Page 12 of 16

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     substantially all of Tenant's assets or of its interest in this Lease and
     possession is not restored to Tenant within thirty days; or if
     substantially all of Tenant's assets or its interest in this Lease is
     attached or otherwise judicially seized and the seizure is not discharged
     within thirty days;

     f.   If Tenant fails to move into or take possession of the Property on the
     commencement date, Landlord will be the sole judge of this fact;

     g.   If Tenant suffers or permits execution, attachment or other similar
     process to issue against Tenant or a substantial portion of its property or
     assets, or if Tenant suffers or permits the Property to be taken and/or
     occupied or attempted to be taken and/or occupied by anyone other than
     Tenant other than in accordance with the terms of this Lease;

     h.   If Tenant removes, attempts to remove, or in Landlord's sole judgment,
     manifests an intention to remove its goods or property from the Property,
     except as required in the normal conduct of its business; or

     i.   If Tenant fails to observe any of the other terms, covenants and
     conditions of this lease, and failure continues after delivery of written
     notice of that failure by the Landlord.

38.  Subordination. This License and the rights of Tenant under it shall be and
are here made subject and subordinate to any Ground Lease, to the lien of any
mortgage, mortgages or deeds of trust now or afterwards existing against the
Project, or any part or parts of it, and to all renewals, modification,
consolidation, replacements and extensions and to all advances made or later to
be made upon the security.

39.  Sale or Conveyance.  In the event of a sale or conveyance by Landlord of
its interest in the Project, the same shall operate to release Landlord from any
further liability upon any covenants or conditions, express or implied, here
contained in favor of Tenant, and in such event Tenant agrees to look solely to
the responsibility of the successor in interest of Landlord in and to this
License.  Tenant agrees to attorn to the purchaser or assignee.

40.  Compliance with Applicable Law.  After commencement of this agreement,
Tenant, at its expense, will promptly comply with all present and future laws
and regulations of all federal, state and municipal governments, courts,
departments, commissions, authorities, boards, and officers, and all orders and
regulations of the National Board of Fire Underwriters or any other body
exercising similar functions, whether foreseen or unforeseen, ordinary or
extraordinary, that may apply to the Parking Spaces and adjoining sidewalks,
curbs.  Tenant will likewise comply with the requirements of all public
liability, fire and other insurance policies at any time in force with respect
to the Property.  Tenant may, after written notice to Landlord, contest by
appropriate legal proceedings diligently conducted in

                                                                   Page 13 of 16
<PAGE>

good faith, in the name of either or both without expense to Landlord, the
validity or application of any law or regulation of the nature referred to,
subject to the following:

     a.   Tenant may delay compliance until final determination of the
     proceeding if Tenant prosecutes it with due diligence, provided that the
     contested law or regulation expressly allows delay without imposing any
     lien, charge or liability against the Property, or Tenant's leasehold
     interest in the property, and without subjecting either party to civil or
     criminal liability for failure to comply.

     b.   If a lien, or civil liability would be incurred because of delay under
     subparagraph a, Tenant may, with Landlord's written consent that it will
     not unreasonably withhold, contest and delay compliance with any law or
     regulation, as provided in subparagraph a if: (1) this action does not
     subject Landlord to criminal liability; (2) Tenant furnishes reasonably
     satisfactory security to Landlord against resulting loss or injury; and (3)
     Tenant prosecutes the contest with due diligence. Landlord will cooperate
     with Tenant to contest validity or application of any law or regulation.
     Landlord will not be required, however, to execute and deliver documents
     that, in the judgment of Landlord's attorney may prejudice its interest in
     the Property.

41.  Fees and Costs to Enforce. In the event of any litigation between Tenant
and Landlord to enforce any provision of this License or any right to either
party, the Tenant shall pay upon demand all Landlord's costs, charges and
expenses, including reasonable fees of counsel, agents and other retained by
Landlord, incurred in enforcing Tenant's obligations under this Agreement or
incurred by Landlord in any litigation, negotiation or transaction in which
Tenant causes Landlord, without Landlord's fault, to become involved.

42.  Estoppel Certificates.  Tenant agrees promptly to furnish estoppel
certificates pertaining to this License if required by Landlord, which
certificates shall be in the form provided to be furnished in the Lease.

43.  Municipal Approvals.  It shall be the obligation of the Tenant, at Tenant's
own cost and expense, to make application to the appropriate municipal
agency/board for the required approvals.  Landlord will provide assistance and
support as required and necessary to process the application.

44.  Heirs, Successors and Assigns.  The covenants and conditions here contained
shall apply to and bind the respective heirs, successors, executors,
administrators and assigns of the parties. The terms "Landlord" and "Tenant"
shall include the successors and assigns of either party, whether immediate or
remote.  Landlord may, on 30 days notice, terminate this agreement if the
management of the tenant changes or is modified.

                                                                   Page 14 of 16
<PAGE>

45.  Notice.  All notices required by this agreement must by written and
delivered personally or by certified mail, return receipt requested.  Notice to
Tenant by Landlord under this lease will be considered to be delivered if it is
mailed to the location which is the subject of this lease or to any other
address that Tenant has advised Landlord by notice in accordance with these
provisions. Notice to Landlord by Tenant may be mailed to Landlord at The Clam
Hut, Atlantic Avenue, Highlands, New Jersey  07732, to the attention of the
Executive Director.

46.  Termination.  In the event any governing authority denies Tenant's right to
operate a ferry from Landlord's site or, having granted such permission rescinds
same, or refuses to permit more than 169 passengers on board tenant's ferry (or
reduces such occupancy to that number or less having previously granted
permission for more passengers) or denies permission for tenant to make
necessary improvements which denial prevents tenant from operating, Tenant may
terminate this contract on 30 days written notice to Landlord.

47.  Governing Law.  This agreement shall be governed by the laws of the State
of New Jersey and venue shall be proper only in the Superior Court of New
Jersey, Monmouth County.

48.  Severability.  If a clause or provision of this agreement is declared
legally invalid, that clause will be severable and the rest of this lease will
remain in effect so far as it does not make the remainder of the agreement
incomprehensible or unenforceable at law or equity.

49.  Inclusion of Resolution.  All conditions to be preformed by Tenant that are
stated in any resolution or permit issued by the Borough of Highlands are
considered to be part of the terms of the lease and may be enforced by Landlord.
The resolution is attached to this lease for that purpose.

50.  Entire Agreement.  All promises Landlord has made are contained in this
written agreement including its Exhibits and any attached Riders, and the
attached Resolution that is made part of this lease.  This agreement can only be
changed by written agreement approved by both Tenant and Landlord.

51.  Binding Effect.  Landlord and the Tenant are bound by this Lease.  All
parties that lawfully succeed to their rights and responsibilities are also
bound.

52.  Signatures.  By their signatures, Landlord and Tenant agree to the terms of
this agreement.

THE CLAM HUT                            NEW YORK FAST FERRY SERVICES, INC.

/s/ Lynn Hunter                              /s/ John Koenig
---------------------------------            ---------------------------------
Lynn Hunter, President, Landlord        JOHN KOENIG, President, Tenant

                                                                   Page 15 of 16

<PAGE>

                                   EXHIBIT A
                                   SITE PLAN

                                                                   Page 16 of 16