Document:

Exhibit
10.3 

 

LEASE
SUMMARY SHEET

 

LANDLORD:

 

	Name:	 	ST RXR Investments, LLC
	Notice Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	Telephone:	 	 
	Telecopy:  	 	 
	 	 	 
	TENANT:	 	LMP MOTORS.COM, LLC
	Name(s):	 	601 N STATE RD 7
	Notice Address:
    	 	PLANTATION, FL 33317
	 	 	 
	Telephone:	 	 
	Telecopy:	 	 
	 	 	 
	With a copy to:	 	Runyan Law Firm, PA
	 	 	c/o Tom Runyan, Esq.
	Notice Address:	 	707 NE 3rd Avenue, Suite 300
	 	 	Fort Lauredale, FL 33304
	 	 	tom@runyanlawfirm.com
	 	 	T: 954-561-9466

 

PREMISES:
The Premises are known as 601 N STATE RD 7 PLANTATION FL 33317 Florida and the “Parcel of Land” with Parcel ID 5041
01 34 0010 located in Broward County, Florida is also known as the Premises.

 

TERM:
A Five (5) year Lease commencing March 1, 2018. Provided that Tenant is not in Default of this Lease within 120 days of
expiration of the First Term, Tenant shall have one (5) year option to renew, as further described within the Lease. Rent
shall increase each year on the 1st day of March by THREE PERCENT (3%) over the previous year for the Term and the
Option Term hereunder.

 

FIXED
MINIMUM RENT: Rent shall be $28,500.00. This is a Triple NET (NET NET NET) Lease. The Fixed Minimum Rent shall increase on
March 1st of each year by 3% over the previous year during the Term and/or Option Term.

 

OTHER
SUMS PAYABLE. This is a Triple NET lease, which includes, but is not limited to all Utilities, Property Taxes, Insurances,
Maintenance and Upkeep for the Premises.

 

PERMITTED
USE: An automotive sales store including auto and truck trades. or any other use permitted by law.

 

    Landlord’s Initials / Tenant’s Initials /1

     

    

 

TRIPLE NET LEASE AGREEMENT

 

THIS
LEASE is made this 1st day of January 1, 2018 by and between ST RXR Investments, LLC, a Delaware limited liability company (“Landlord”),
and LMP Motors.com, LLC a Delaware limited liability corporation (“Tenant”).

 

ARTICLE
I - PREMISES

 

Section
1.1 PREMISES. The “Premises,” as used herein, shall mean the Premises described on the Lease Summary Sheet. Landlord,
for and in consideration of the rents, covenants, agreements, and conditions hereinafter set forth, reserved and contained to
be paid, kept, observed and performed by Tenant, does hereby demise and lease the Premises unto Tenant, and Tenant hereby takes
and rents the Premises from Landlord upon the terms and conditions hereinafter set forth.

 

ARTICLE
II - TERM

 
   

Section
2.1 TERM. Tenant shall have and hold the Premises for a period of five years, commencing AS STATED ON THE LEASE SUMMARY SHEET
(“Commencement Date”), and expiring at the end of five (5) years or upon the extension of the Option as further described
below in Section 2.3, unless sooner terminated by the Landlord or Tenant with 30 days’ notice or unless sooner terminated under
the conditions of this Lease Agreement (“Lease Term”). The lease is a triple net (NET NET NET) lease.

 

Section
2.2 HOLDING OVER. If Tenant remains in possession of the Premises after the expiration or termination of the term hereof,
without the execution of a new lease, Tenant shall be a tenant at will, and Landlord shall have no obligation to notify Tenant
of any termination of Tenant’s possession. Commencing on the date following the date of such expiration or termination, the Fixed
Minimum Rent shall, for each month or fraction thereof that Tenant so remains in possession, be twice the Fixed Minimum Rent in
effect at the expiration or termination of this Lease, subject to all the other terms and provisions of this Lease. Tenant shall
indemnify and hold Landlord harmless from all loss or liability, including any claim made by any successor tenant founded upon
Tenant’s failure to surrender the Premises on a timely basis.

 

Section
2.3 OPTION. Provided that Tenant is not in Default within 120 days of the expiration of the First Term hereunder, then Tenant
may give notice to Landlord in writing no less than 90 days prior to the end of the First Term that it intends to exercise the
Option for a second Five (5) year term “Option Term”. Should Landlord determine that Tenant is in Default under the
First Term, then Landlord shall within 10 business days of receipt of written notice from Tenant of its intent to exercise the
Option, shall send to Tenant a written denial of the Option Term. Once the Option Term commences, the Rent shall increase each
year by 3% over the previous year’s rent.

 

ARTICLE
III - RENT

 

Section 3.1 RENT.
“Rent” shall include Fixed Minimum Rent and Additional Rent as set forth and defined in this Lease Agreement and is
to be paid without demand to Landlord at the following address 300 South Pointe Dr, Apt 4003, Miami Beach, FL 33139, or at such
other place and/or person as Landlord may designate in writing.

 

    Landlord’s Initials / Tenant’s Initials /2

     

    

 

Section 3.2 FIXED MINIMUM
RENT. Tenant shall pay to Landlord, without deduction, setoff or demand, as “Fixed Minimum Rent” for the Premises,
as set forth in the Lease Summary Sheet, plus applicable Florida state sales tax, excise and/or use tax, due and payable on or
before the first day of the calendar month, during the Term of the Lease AS STATED ON THE LEASE SUMMARY SHEET. Tenant shall have
a ten (10) day grace period with regard to the payment of rent and any Additional Rent pursuant to this Lease.

 

Section 3.3.1 ADDITIONAL
RENT. All property insurance, and other expenses or sums that Tenant is required to pay hereunder, together with all interest
and penalties that may accrue thereon in the event of Tenant’s failure to pay such amounts, and all damages, costs and expenses
which Landlord may incur by reason of any default of Tenant or failure on Tenant’s part to comply with the terms of this Lease,
shall be deemed to be additional rent (“Additional Rent”) and, in the event of nonpayment by Tenant, Landlord shall
have all the rights and remedies with respect thereto as Landlord has for nonpayment of the Fixed Minimum Rent. As used herein,
the term “Rent” shall mean the Fixed Minimum Rent and Additional Rent.

 

Section
3.3.2 PROPERTY INSURANCE. Tenant shall obtain insurance on the Premises as set forth in Article VI and shall include Landlord
as an additional insured as appropriate. “Property Insurance” shall mean all premiums and other costs paid by Landlord
for insurance on the Premises from time to time, if any, including, but not limited to, property coverage, rental income insurance,
malicious mischief and public liability insurance carried by Landlord on the Premises.

 

Section
3.4 LATE CHARGES. All payments of Rent shall be made by Tenant without notice or demand at the office of Landlord or at such
other place as Landlord may from time to time designate in writing, and without set-off, deduction or abatement except as otherwise
expressly provided herein. Any payments of Rent not received by Landlord on or before the date when due shall be deemed delinquent.
Tenant shall pay to Landlord without demand a late charge equal to one hundred dollars ($100) if any payment is not received by
Landlord within ten (10) days after the due date. Tenant acknowledges that such late charge is not a penalty, but is to compensate
Landlord for the additional administrative expenses and other expenses incurred by Landlord in handling delinquent payments (which
expenses are not readily ascertainable), and is in addition to, not in lieu of interest on late payments as provided herein and
any other remedies that Landlord may have by virtue of Tenant’s failure to make payments when due. Interest on any payment of
Rent not received by Landlord on or before the date when due shall accrue from the date when due to and including the date such
payment is received by Landlord at the rate of 5 percent (5%) per annum, but in no event in excess of the maximum interest rate
permitted under applicable law from time to time (the “Default Rate”).

 

Section
3.5 UTILITIES. Tenant shall pay all bills and charges for water, gas, electricity, telephone, garbage and trash collection
(for trash generated within the Premises), fuel, light, heat and power furnished to or used by Tenant on or about the Premises,
and all sewage disposal or sewerage service charges, and any and all assessments or other charges levied on, against or for the
Premises. If Tenant does not pay such bills and charges, Landlord may, but shall not be obligated to, pay the same, and such payment
shall be Additional Rent payable upon demand by Landlord. In no event shall Landlord be liable for any interruption or cessation
in the supply of any such services or utility services not furnished by Landlord to the Premises nor for any interruption or cessation
in the supply of any such services or utility services that are due to fire, accident, strike, acts of God or other causes beyond
the control of Landlord, or in order to make alterations, maintenance, repairs or improvements. Disruption or cessation of utility
service to the Premises shall not be construed as an eviction of Tenant, work an abatement of rent, or relieve Tenant from fulfillment
of any covenant or agreement of this Lease.

 

Section
3.6 RETURNED CHECK FEE. Any returned check shall result in a $50.00 fee, plus applicable Florida Sales Tax, each and every
time returned. Any such additional charges shall be deemed Additional Rent.

 

    Landlord’s Initials / Tenant’s Initials /3

     

    

 

Section
3.7 REAL ESTATE TAXES and ASSESSMENTS. Tenant shall pay all real estate taxes and assessments becoming due and payable with
respect to the Premises during the lease term and any extension thereof, and all taxes or other charges imposed during the lease
term or any extension thereof with respect to any business conducted on the Premises by Tenant or any personal property used by
Tenant in connection therewith. Taxes, assessments or other charges which Tenant is obligated to pay or cause to be paid hereunder
and which relate to any fraction of a tax year at the commencement or termination of this Lease shall be prorated based upon the
ration that the number of days in such fractional tax year bears to 365. If at any time during the lease or any extension thereof,
the method of taxation prevailing at the commencement of the lease term shall be altered so as to cause the whole or any part
of the taxes, assessments, or charges now or hereafter levied, assessed or imposed on real estate and otherwise, on the rents
received there from, Tenant shall pay and discharge the same with respect improvement thereon to be levied, assessed or imposed
wholly or partially as a capital levy, or to the rents due hereunder. Failure of the Tenant to pay any Real Estate Taxes due on
the Premises by March 1 of each year, shall constitute a Default hereunder. Landlord shall have the right to pay such taxes and
Tenant shall reimburse Landlord for such sum as Additional Rent, plus an administrative fee of fifteen percent (15%) upon demand.

 

ARTICLE IV - USE/CONDUCT
OF BUSINESS

 

Section
4.1 USE/CONDUCT OF BUSINESS. (a) Tenant shall use and occupy the Premises for the Permitted Use, as set forth on the Lease
Summary Sheet, and shall not use or permit the use of the Premises for any illegal purpose whatsoever. Tenant shall not commit
waste on the Premises. Tenant shall comply with all state and local laws, ordinances and regulations, in effect from time to time.
including those prohibiting discrimination or segregation by reason of race, color, creed, age, religion, sex or national origin,
or any other class of persons protected under the law. (b) Tenant shall not use or permit to be used the Premises which will in
any way conflict with any law, statute, ordinance or governmental rule or regulation now or hereafter in force or any restrictions
or prohibited uses contained in any document of record, permit or license related to the Premises. Tenant shall at its cost and
expense, promptly comply with all laws, statutes, ordinances and governmental rules, regulations or requirements now or hereafter
in force, and with the requirements of any board of fire underwriters or other similar bodies relating to or affecting the condition,
use or occupancy of the Premises whether now or hereafter in effect.

 

Section
4.2 USE OF PREMISES. Tenant shall have the exclusive right during the term of this Lease to use the Premises for itself, its
employees, agents, customers, invitees and licensees for their intended purpose, subject, however, to all the provisions of this
Lease. Tenant shall not allow the accumulation of any garbage and/or refuse to in the Premises.

 

Section
4.3 EXTERIOR SIGNS. Any and all signs placed on the Premises by Tenant shall be first approved by Landlord in writing and
once agreed by Landlord, the Tenant shall maintain and comply with all governmental ordinances, rules and regulations governing
installation and maintenance of such signs, and Tenant shall be responsible to Landlord for any damage caused by the installation,
use, removal or maintenance of the same or violation of any ordinance, rule or regulation with regard thereto, including complete
restoration of the brick storefront, if any. All exterior signs serving the Premises shall be deemed to be part of the land, shall
not be removed by Tenant and shall be surrendered to Landlord as part of the Premises at the expiration of this Lease. All signs,
awnings, canopies, advertising matter or other thing of any kind shall be removed by Tenant prior to the expiration or termination
of this Lease, and upon such removal Tenant shall simultaneously repair all damage incidental to such removal at the Landlord’s
option. All exterior signs serving the Premises shall be deemed to be part of the land, shall not be removed by Tenant and shall
be surrendered to Landlord as part of the Premises at the expiration of this Lease.

 
 

    Landlord’s Initials / Tenant’s Initials /4

     

    

 

Section 4.4 RIGHT OF
ENTRY. Landlord or Landlord’s agents shall have the right to enter the Premises at all times to examine the same for compliance
with the terms of this Lease, and to make such repairs, alterations, improvements or additions as Landlord may deem necessary
or desirable or which result from Default. With ten (10) days prior notice to tenant, Landlord shall be allowed to take all material
into and upon the Premises that may be required for repairs, alterations, improvements or additions without the same constituting
an eviction of Tenant in whole or in part, and the Rent shall in no event abate while said repairs, alterations, improvements,
or additions are being made, by reason of loss or interruption of business of Tenant, or otherwise. During the expiration of the
Lease term (or any extensions thereof) and provided Tenant has not exercised any option to purchase or first option to buy or
renew, Landlord may exhibit the Premises to prospective tenants or purchasers, and place upon the Premises the usual notices “For
Lease or Rent” or “For Sale,” which notices Tenant shall permit to remain thereon without molestation. If Tenant
shall not be personally present to open and permit an entry into the Premises at any time when for any reason an entry therein
shall be necessary, Landlord or Landlord’s agents may enter the same by a master key, or may, in the event of an emergency, forcibly
enter the same without rendering Landlord or such agents liable therefor, and without in any manner affecting the obligations
and covenants of this Lease.

 

Section 4.5
SUBORD1NATION/ATTORNMENT/ESTOPPEL. (a) This Lease shall be superior to any ground lease or to the lien of any
present or future mortgage, deed of trust or other security instrument (collectively an “encumbrance”) placed by
Landlord upon the Premises, irrespective of the time of execution or the time of recording of the encumbrance: (b)
If the Premises is encumbered, and the encumbrance, if a ground lease, is terminated or, if a lien, is foreclosed, or if the
Premises is sold pursuant to foreclosure or by reason of a default under any encumbrance, the following shall apply
notwithstanding the foreclosure, the sale, or the default: (i) Tenant shall not disaffirm this Lease or any of its
obligations under this Lease; (ii) at the request of the applicable ground lessor, mortgagee or purchaser at the foreclosure
or sale, Tenant shall attorn to the ground lessor, mortgagee or purchaser, and execute a new lease for the Premises setting
forth all of the provisions of this Lease, except that the term of the new lease shall be for the balance of the term of this
Lease. (c) Within ten (10) days after request therefor by Landlord, or in the event of any sale, assignment or hypothecation
of the Premises and/or the land thereunder by Landlord, Tenant agrees to deliver in recordable form, an estoppel certificate
to any proposed ground lessor, mortgagee or purchaser, or to Landlord, certifying that this Lease is unmodified and in full
force and effect (or, if there have been modifications, that the same is in full force and effect as modified, and stating
the modifications), that there are no defenses or offsets
thereto (or stating those claims by Tenant), the dates to which Fixed Minimum Rent and other Rent has been paid, and such
other matters as may be requested. If Tenant fails to deliver such certificate as required herein, Tenant shall be deemed to
have conclusively agreed to and be bound by all matters set forth in the certificate as submitted by the requesting party.
(d) Any document to be delivered under this Section may be relied upon by a prospective purchaser or encumbrancer of all or
any portion of the Premises. Tenant hereby constitutes and appoints Landlord as Tenant’s attorney-in-fact to execute any such
document for and on behalf of Tenant in the event Tenant fails to execute same within the time provided herein. (e) If in
connection with obtaining financing for the Premises, Landlord’s lender shall request reasonable modifications in this Lease
as a condition to such financing, Tenant will not unreasonably withhold, delay, or defer its consent thereto, provided that
such modifications do not increase the A monetary obligations of Tenant hereunder or materially impair the leasehold
interest hereby created. (f) Tenant agrees to give any ground lessors or mortgage holders, as to all or a portion of the
Premises, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that
prior to such notice Tenant has been notified in writing (by way of notice or assignment of rents and leases, or otherwise)
of the addresses of such parties. Tenant agrees not to exercise any remedies available by virtue of a Landlord’s failure to
cure a default within thirty (30) days after receipt of notice of default (or such additional time as may be reasonably
necessary to cure such default) unless Tenant has also given such parties a reasonable opportunity to cure such default
(including but not limited to foreclosure proceedings if necessary to effect such cure).

 

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Section
4.6 NO ESTATE IN LAND. This Lease shall only create the relationship of Landlord and Tenant between the parties hereto and
the parties state that they have not created and do not intend to create any relationship between them other than as landlord
and tenant. Landlord does; however, during the Term or any renewal Term of this Lease grant the first right of refusal to purchase
the Premises. Tenant must exercise such right by fully executing a contract within 15 calendar days from receipt of any written,
bona-fide, third party purchase contract being presented to Tenant by Landlord.

 

Section
4.7 PARKING. Tenant shall maintain the parking areas for the safety and use of its employees and the general public and shall
be fully and solely responsible for those areas.

 

Section
4.8 HAZARDOUS MATERIALS. Tenant shall not cause or permit the use, generation, storage or disposal in or about the Premises
of any substances, materials or wastes subject to regulation under any federal, state or local law from time to time in effect
concerning hazardous, toxic or radioactive materials (hereinafter “Hazardous Materials”) unless Tenant shall have received
Landlord’s prior written consent, which consent Landlord may withhold or at any time revoke at its sole discretion. If Tenant
uses, generates, stores or disposes of any Hazardous Materials in or about the Premises, Tenant shall obtain all necessary permits
and comply with all statutes, regulations and rules applicable to such activity. Furthermore, if Tenant should operate a restaurant
on the Premises, Landlord shall have the right to require that Tenant deliver periodic environmental audits of the Premises evidencing
that no violations have occurred. Tenant shall indemnify and hold Landlord harmless from and against all liability, cost, claim,
penalty, expense and fees (including court costs and attorney’s fees) arising from Tenant’s use, generation, storage, or disposal
of Hazardous Materials in or about the Premises. Tenant agrees to be responsible for any/all Environmental clean up from its Use
of the Premises, even if Hazardous Waste is found after the expiration of this Lease, which was caused by Tenant or during the
sale of the Property/Premises by Landlord during the Term of this Lease.

 

Tenant
shall promptly notify Landlord of: (i) any enforcement, cleanup or other regulatory action taken or threatened by any governmental
or regulatory authority with respect to the presence of any Hazardous Material on the Premises or the migration thereof from or
to other property, (ii) any demands or claims made or threatened by any party against Tenant or the Premises relating to any loss
or injury resulting from any Hazardous Material, (iii) any release, discharge or nonroutine, improper or unlawful disposal or
transportation of any Hazardous Material on or from the Premises, and (iv) any matters where Tenant is required by Law to give
a notice to any governmental or regulatory authority respecting any Hazardous Materials on the Premises. Landlord shall have the
right (but not the obligation) to join and participate, as a party, in any legal proceedings or actions affecting the Premises
initiated in connection with any environmental, health or safety Law. At such times as Landlord may reasonably request, Tenant
shall provide Landlord with a written list identifying any Hazardous Material then used, stored, or maintained upon the Premises,
the use and approximate quantity of each such material, a copy of any material safety data sheet (“MSDS”) issued by
the manufacturer therefor, written information concerning the removal, transportation and disposal of the same, and such other
information as Landlord may reasonably require or as may be required by Law. The term “Hazardous Material” for purposes
hereof shall mean any chemical, substance, material or waste or component thereof which is now or hereafter listed, defined or
regulated as a hazardous or toxic chemical, substance, material or waste or component thereof by any federal, state or local governing
or regulatory body having jurisdiction, or which would trigger any employee or community “right-to-know” requirements
adopted by any such body, or for which any such body has adopted any requirements for the preparation or distribution of an MSDS.

 

If any Hazardous Material
is released, discharged or disposed of by Tenant or any other occupant of the Premises, or their employees, agents or contractors,
on or about the Premises in violation of the foregoing provisions, Tenant shall immediately, properly and in compliance with applicable
Laws clean up and remove the Hazardous Material from the Premises and any other affected property and clean or replace any affected
personal property (whether or not owned by Landlord), at Tenant’s expense. Such clean up and removal work shall be subject to
Landlord’s prior written approval (except in emergencies), and shall include, without limitation, any testing, investigation,
and the preparation and implementation of any remedial action plan required by any governmental body having jurisdiction or reasonably
required by Landlord. If Tenant shall fail to comply with the provisions of this Article within five (5) days after written notice
by Landlord, or such shorter time as may be required by Law or in order to minimize any hazard to Persons or property, Landlord
may (but shall not be obligated to) arrange for such compliance directly or as Tenant’s agent through contractors or other parties
selected by Landlord, at Tenant’s expense (without limiting Landlord’s other remedies under this Lease or applicable Law). Landlord
shall have the right to pay for such clean up and Tenant shall reimburse Landlord for such sum as Additional Rent, plus an administrative
fee of fifteen percent (15%) upon demand.

 

This section 4.8 shall survive the expiration or earlier termination of this Lease.

 

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Section 4.9 QUIET ENJOYMENT.
Upon payment by Tenant of the Rent herein provided, and upon the observance and performance of all the covenants, terms and conditions
on Tenant’s part to be observed and performed under this Lease, Tenant shall peaceably and quietly hold and enjoy the Premises
for the term of this Lease without hindrance or interruption by Landlord or any other person or persons lawfully or equitably
claiming by, through Landlord, subject, nevertheless,
to the terms and conditions of this Lease.

 

ARTICLE
V - CONDITION OF PREMISES; CONSTRUCTION; REPAIRS 

 

Section
5.1 CONDITION OF PREMISES. Tenant accepts the Premises in “as is, where is” condition after Landlord delivers the
Premises to Tenant as described on the Lease Summary Sheet above, permitted, inspected, signed off and agrees the same are suited
for the use intended by Tenant, without any warranties whatsoever by Landlord. Tenant shall perform or cause to be performed any
Tenant improvements in a good and workmanlike manner, in accordance with all applicable governmental requirements and the plans
and specifications therefore. 

 

Section 5.2 REPAIRS
BY LANDLORD

 

Landlord shall not
be responsible or liable for damages or repairs of any kind caused by any unlawful or forced entry. Landlord shall not be
responsible or liable to Tenant, or those claiming through Tenant, for loss or damage to their person or property resulting from
acts or omissions of other persons, tenants or third persons (including the general public, licensees or  invitees),
or as a result of breakage, leakage or stoppage of water, sewer, gas, electrical cables and wires or other utilities.

 

Section
5.3 MAINTENANCE AND REPAIRS BY TENANT. (a) Tenant shall, during the term of this Lease, at Tenant’s expense, maintain the
Premises and entire Parcel of Land which is owned by Landlord that is being leased hereunder to Tenant in good condition and repair.
Tenant’s obligation to repair shall include the obligation to maintain, service and replace, regardless of whether the need for
the same is foreseen or unforeseen. Without limiting the generality of the foregoing, Tenant agrees that its obligation to repair,
maintain, service and replace shall extend to the entire Premises and Parcel of Land owned by Landlord, whether improved or unimproved.

 

(b)
Landlord may, but shall not be obligated to, make any repairs to be made by Tenant hereunder, if not promptly made by Tenant,
and all such payments made by Landlord shall be treated as Additional Rent payable upon demand by Landlord, plus an
administrative fee of five percent (5%). Any charges under this section shall be deemed Additional Rent.

 

(c)
Landlord agrees to fully cooperate with Tenant in the procurement of applications, permits and Land Use applications for the
Premises. Landlord agrees to review and execute any such governmental and agency applications within 5 business days of
presentation by Tenant.

 

    Landlord’s Initials / Tenant’s Initials /7

     

    

 

Section 5.4 NO
LIENS. Landlord’s interest in the Premises shall not be subject to liens for improvements, repairs or alterations made by
Tenant, and Tenant shall have no power or authority to create any lien or permit any lien to attach to the Premises or the
present estate, reversion or other interest of Landlord in the Premises, or other improvements thereon as a result of
improvements made by Tenant or by reason of any other work done on Tenant’s behalf or any other act or omission of Tenant.
All material men, contractors, artists, mechanics and laborers and other persons contracting with Tenant with respect to the
Premises or any part thereof, are hereby charged with notice that such liens are expressly prohibited and that they must look
solely to Tenant to secure payment for any work done or material furnished for improvements made at the request of Tenant.
Tenant agrees to provide notice to such effect to any such persons doing work or supplying materials to the Premises. Tenant
shall indemnify Landlord against any loss or expenses incurred as a result of the assertion of any such lien, and Tenant
covenants and agrees to remove such lien or transfer such lien to a bond or such other security, as may be permitted by
applicable law, within twenty (20) days of its assertion. In the event Tenant fails to have such lien removed as required
hereunder, Landlord shall have the right to pay such lien and Tenant shall reimburse Landlord for such sum as Additional
Rent, plus an administrative fee of fifteen percent (15%) upon demand.

 

Section 5.5 AMERICANS
WITH DISABILITIES ACT. The parties acknowledge that the Americans with Disabilities Act of 1990 (42 U.S.C. § 12101 et
seq.) and regulations and guidelines promulgated thereunder, as all of the same may be amended and supplemented from time to time
(collectively referred to herein as the “ADA”) establish requirements for business operations, accessibility and barrier
removal, and that such requirements may or may not apply to the Premises and Parcel of Land depending on, among other things:
(1) whether Tenant’s business is deemed a “public accommodation” or “commercial facility”, (2) whether
such requirements are “readily achievable”, and (3) whether a given alteration affects a “primary function area”
or triggers “path of travel requirements”. The parties agree that: (a) Tenant shall be responsible for ADA Title III
compliance for the Premises and Parcel of Land and (b) Landlord may perform, or require that Tenant perform. and Tenant shall
be responsible for the cost of, ADA Title III “path of travel” requirements triggered by alterations in the Premises.
The parties shall each be solely responsible for requirements under Title I of the ADA relating to their respective employees.
In the event Tenant fails to make such ADA improvements as may be required, Landlord shall have the right to pay for such improvements
and Tenant shall reimburse Landlord for such sum as Additional Rent, plus an administrative fee of fifteen percent (15%) upon
demand.

 

ARTICLE
VI - INSURANCE/INDEMNITY/CASUALTY

 

Section 6.1 INDEMNITY
AND INSURANCE. (a) Tenant agrees to, and hereby does, indemnify and save Landlord harmless from and against any and all claims,
actions, damages, liability, costs and expenses (including attorney’s fees and court costs incurred by Landlord) for any
injury (including death) to any persons or (after the first two months) any damage to any property arising from, caused by or
in connection with (i) any occurrence in, upon or at the Premises; or in any way related to or arising out of Tenant’s use
or occupancy of the Premises, or any part thereof; (ii) the negligence, misconduct or any act or omission to act of Tenant, its
agents, employees, contractors, subcontractors, subtenants, licensees or concessionaires; or (iii) any breach or default by Tenant
in the performance of its obligations under this Lease, or any contract or agreement to which Tenant is a party, or any restriction,
law, ordinance, or regulation affecting the Premises or any part thereof or the ownership, occupancy or use thereof. In case of
any claim, action, suit or proceeding brought against Landlord due to any such occurrence, Tenant will, at Tenant’s expense,
defend and resist such claim, action, suit or proceeding, or cause such defense or resistance by counsel reasonably approved by
Landlord.

 

(b) Tenant shall, at its sole cost, maintain
the following insurances at all times during this Lease
and at all times when Tenant is in possession of the Premises:

 

(i)
Comprehensive general liability insurance for all risks related to a business
operated by Tenant, with a combined single limit for personal injury, loss of life and property damage of not less than
Five Million and No/100 Dollars ($5,000,000), and for injury to or death of one person in any one occurrence in an amount not
less than Five Million and No/100 Dollars ($2,000,000) per occurrence, and damage to property in the amount of not less than
One Million and No/100 Dollars ($1,000,000), made by, or on behalf of, any person, firm or corporation arising from, related
to or connected with the Premises or any act or omission of the Tenant. Said insurance shall comprehend full coverage
of Tenant’s obligation to indemnify Landlord under this Lease or otherwise.

 

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(ii)
Fire insurance.

 

(iii)
Property insurance insuring Tenant’s leasehold improvements, furnishings, personal property, inventory, fixtures and
equipment on an “all risk” basis written on a “special form” policy, or the equivalent, against loss by
reason of fire, hazard or other casualty, with extended coverage, to the extent of at least eighty percent (80%) of the value
thereof.

 

(iv)
Plate glass insurance on all plate glass for the Premises insuring both Landlord and Tenant against loss or liability arising
as a result thereof.

 

(v) Workman’s
compensation insurance as may be required by applicable law.

 

(vi) In the event Tenant
is permitted to make any improvements or alterations on the Premises, builders risk insurance written on a completed value (non-reporting)
basis.

 

(c)
All insurance required of Tenant hereunder shall be carried with insurance companies and in form reasonably satisfactory to
Landlord. Tenant shall deliver to Landlord policies or certificates of all of such insurance, when required hereunder (after
the first two months) which shall provide that Landlord will be given not less than thirty (30) days written notice prior to
cancellation or expiration of the insurance evidenced thereby. Renewals of all of such insurance shall be delivered to
Landlord at least thirty (30) days prior to the expiration date of such insurance.

 

(d)
All insurance required of Tenant hereunder shall be on a non-contributory basis and shall name Landlord, and at Landlord’s
option, any mortgage lender on the Premises, as an additional insured or insured mortgagee as the case may be, and the policies
shall contain cross liability endorsements. The limits of said insurance shall not, however, limit the liability of Tenant hereunder.
Tenant may carry such insurance under a blanket policy; provided, however, such insurance by Tenant shall have a Landlord’s
protective liability endorsement attached thereto. If Tenant shall fail to procure and maintain such insurance, Landlord may,
but shall not be required to, procure and maintain the same, and Tenant shall reimburse Landlord for the cost thereof as Additional
Rent, plus an administrative fee of five percent (5%) upon demand. Landlord may require periodic increases in the amounts of Tenant’s
insurance coverage in accordance with sound and prudent business practice. Any charges under this section shall be deemed Additional
Rent.

 

(e)
Tenant acknowledges and agrees that Landlord will not obtain or carry insurance on Tenant’s personal property, fixtures,
equipment, inventory or Tenant’s leasehold improvements, and Tenant agrees that Tenant shall be responsible for obtaining and
carrying insurance on the foregoing, at its sole cost and expense.

 

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(f)
Anything in this Lease to the contrary notwithstanding, Tenant hereby waives any and all rights of recovery, claim, action or
cause of action against the Landlord for any loss or damage that may occur to the Premises or any improvements thereto, the Premises
or any personal property of Landlord or Tenant, arising from any cause that (i) would be insured against under the terms of any
insurance required to be carried hereunder; or (ii) is insured against under the terms of any insurance actually carried, regardless
of whether the same is required hereunder. The foregoing waiver shall apply regardless of the cause or origin of such claim, including
but not limited to the negligence of a party, or such party’s agents, officers, employees or contractors. The foregoing
waiver shall not apply if it would have the effect, but only to the extent of such effect, of invalidating any insurance coverage
of Landlord or Tenant. Each party shall obtain any special endorsements, if any, required by their respective insurers to evidence
compliance with the aforementioned waiver.

 

Section 6.2 CASUALTY.

 

(a)
Subject to the other provisions of this Section, in the event the Premises are damaged by fire or other casualty, this Lease
shall remain in full force and effect, and Tenant shall forthwith repair the Premises to a state ready for
restoration.

 

(b)
Should it become necessary for the Landlord to make such repairs after a casualty, then the provisions of this Section with respect
to repair by Landlord shall be limited to such repair as is necessary to place the Premises in the condition similar to that as
of the Commencement Date of the Lease, normal wear and tear excepted, and when placed in such condition the Premises shall be
deemed restored and rendered tenantable. Promptly following Landlord’s restoration work Tenant, at Tenant’s expense, shall perform
the work required to place the Premises in the condition to operate its business, and Tenant shall also repair or replace its
stock in trade, fixtures, personal property, furniture, furnishings, floor coverings and equipment, and if Tenant has closed,
Tenant shall promptly reopen for business. Any such repairs conducted by Landlord shall be considered Additional Rent and Tenant
shall reimburse Landlord for such sum as Additional Rent. plus an administrative fee of fifteen percent (15%) upon demand.

 

(b)
Landlord shall not be required to repair any injury or damage by fire or other cause, or to make any repairs or replacement
of any improvements, or any other property installed in or located on the Premises by Tenant.

 

ARTICLE VII - CONDEMNATION

 

Section 7.1 CONDEMNATION.
In the event that all or any part of the Premises is acquired by a public or quasi-public entity through the use of the power
of eminent domain or through a sale in lieu thereof, then, in that event, it is understood Tenant hereby waives and forfeits any
and all claims in the nature or apportionment of the compensation paid for the property taken (including, but not limited to,
land, building, site, improvements, and fixtures) and damages to the property remaining (including, but not limited to, damage
to land, building, site improvements, and fixtures). Tenant shall retain its claims solely for business damages, relocation costs
and trade fixtures against the condemning authority. Tenant shall not interfere with the aforesaid rights reserved by Landlord,
Landlord’s claims, Landlord’s defenses to any taking or Landlord’s ability to settle with a condemning authority.

 

ARTICLE
VIII - ASSIGNMENT/SUBLETTING

 

Section
8.1 ASSIGNMENT/SUBLETTING. Tenant shall not, without the prior written consent of Landlord, assign, transfer, mortgage
or encumber this Lease or any interest hereunder, or sublet the Premises or any part thereof, or permit the use of the
Premises by any party other than Tenant. A transfer of a majority of the ownership interest or voting control in Tenant
whether by a single transfer or in the aggregate by several transfers shall be considered an assignment subject to this
Section. Should Landlord consent to any assignment, transfer, mortgage or encumbrance or sublease of this Lease, it shall not
constitute a waiver of the rights of Landlord under this Lease. If allowed, any assignee or transferee of Tenant, at the
option of Landlord, shall become directly liable to Landlord for all obligations of Tenant hereunder, but no sublease,
assignment or transfer by Tenant shall relieve Tenant of any liability hereunder. Any assignment, transfer, mortgage,
encumbrance or subletting by Tenant without the prior written consent of Landlord shall be void and shall be deemed a
Default. If Landlord consents to a proposed sublease or assignment, Tenant shall submit to Landlord a copy of the unexecuted
sublease or assignment, which must provide for the assumption of all of Tenant’s obligations under this Lease. Any sums
paid by a sublessee or assignee in excess of the amounts due under this Lease shall be property of and paid to Landlord. At
any time, Landlord may require that any rent or other sums paid by a sublessee or assignee be paid directly to Landlord.

 

    Landlord’s Initials / Tenant’s Initials /10

     

    

 

ARTICLE IX - DEFAULT/REMEDIES/LIABILITY/SURRENDER

 

Section
9.1 DEFAULT. This Lease is made upon the condition that Tenant shall punctually and faithfully perform all of the covenants,
conditions and agreements by it to be performed as in this Lease set forth. The following shall each be deemed to be an event
of default (each of which is sometimes referred to as a “Default” in this Lease):

 

(a)
Tenant shall fail to pay when due any Rent or other sums due any other party under the terms and provisions of this
Lease.

 

(b)
Tenant or any other party liable for the obligations of Tenant under this Lease shall have a permanent receiver appointed for
such party’s property and such receiver is not removed within thirty (30) days after appointment of such receiver.

 

(c)
Tenant or any other party liable for the obligations of Tenant under this Lease shall have filed against it any proceedings
under any present or future state or federal insolvency or bankruptcy laws or other laws of similar purpose, and such
proceeding is not dismissed within thirty (30) days.

 

(d)
Tenant or any other party liable for the obligations of Tenant under this Lease shall voluntarily commence any debtor relief
proceedings under any present or future state or federal insolvency or bankruptcy laws or other laws of similar
purpose.

 

(e)
Tenant or any other party liable for the obligations of Tenant under this Lease shall make an assignment for the benefit of
creditors.

 

(f)
Tenant or any other party liable for the obligations of Tenant under this Lease shall have its property levied upon or
attached under process that is not satisfied or dissolved within thirty (30) days after inception of such levy or
attachment.

 

(g)
Tenant shall fail to perform any other covenant, agreement, provision or condition of this Lease, which failure is not cured within
thirty (30) days after notice from Landlord; provided, however, if such failure by its nature cannot reasonably be cured within
such thirty (30) day period then no Default shall be deemed to exist as long as Tenant commences curing the failure within such
thirty (30) day period arid thereafter continuously and diligently prosecutes cure to completion.

 

(h)
The repetition of any failure to observe or perform any of the other covenants, terms or conditions hereof more than
three (3) times, in the aggregate, in any period of twelve (12) consecutive months, notwithstanding the cure of such
failures within any applicable notice or cure period.

 

(i) The
actions or activities of the Tenant, its invitees, or other persons on the Premises,
including but not limited to prostitution, indecent exposure, illegal drug use or distribution, or other criminal activity,
which may jeopardize or risk the permits and licenses related to the Premises. The parties acknowledge that a significant
value of the Premises is it permits and licenses, related to the adult entertainment and liquor consumption business.
Any actions or activities that jeopardize or risk the continued validity or impair those permits and licenses in any way are
a default that will cause significant damage to Landlord and the value of the Premises and shall constitute a default of the
Lease.

 

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(j)
Tenant fails to pay Real Estate Taxes on the Premises on or before March 1 of each year during the Term and/or Option
Term.

 

Section
9.2 REMEDIES FOR DEFAULT. In event of a Default, Landlord at its option may, without further demand or notice, at once, or
any time thereafter during continuance of such Default, do one or more of the following:

 

(a)
Landlord may terminate this Lease by written notice to Tenant. If the Lease is so terminated, the remainder of the amounts
owed under the Lease shall be accelerated and Tenant shall be obligated to and shall pay Landlord all Rent that would have
been payable by Tenant from the date of termination to the date when this Lease would have expired if it had not so
terminated, discounted to present value at the discount rate of the Federal Reserve Bank of Atlanta, Georgia, in effect at
the time of termination, plus all costs and expenses incurred by Landlord by reason of such Default, including reasonable
attorney’s fees. The Additional Rent after termination shall be an estimate computed by Landlord, taking into consideration
the current estimates of such amounts and the average yearly percentage increase of such amounts over the completed portion
of the Lease term. Tenant agrees to accept the estimates prepared by Landlord for the purpose of computing the amounts owed
Landlord following termination of the Lease. No termination of this Lease prior to the scheduled expiration thereof shall
affect Landlord’s right to collect Rent or Landlord’s costs and expenses incurred by reason of such Default, including
reasonable attorney’s fees, for the period prior to the termination thereof.

 

(b)
Landlord, as Tenant’s agent. without terminating this Lease, may enter upon, retake and relet the Premises at the best price
obtainable by reasonable effort, without advertisement and by private negotiations, for any term Landlord deems appropriate,
and Tenant shall be liable immediately to Landlord for all costs Landlord incurs in reletting the Premises, including without
limitation, reasonable attorneys’ fees, brokers’ commissions, expenses of remodeling the Premises and like costs. In
addition, Landlord shall have the right to have a receiver appointed to collect Rent and conduct Tenant’s business. Tenant
shall be liable to Landlord for the deficiency, if an), between all Rent due hereunder and the rent received by Landlord as a
result of such reletting or receivership (after first deducting from the rents received from such reletting or receivership
the costs incurred by Landlord in connection with such entry, retaking, reletting or receivership). No act by Landlord with
respect to the Premises shall terminate this Lease, including but not limited to acceptance of the keys, institution of an
action for detainer or other dispossessory proceedings; it being understood that this Lease may only be terminated by express
written notice from Landlord to Tenant, and any reletting of the Premises shall be presumed to be for and on behalf of
Tenant, and not Landlord, unless Landlord expressly provides otherwise in writing to Tenant.

 

(c)
In addition to all other remedies available to Landlord under this Lease, Landlord may, at Landlord’s option, upon Default,
pay any sum of money on behalf of Tenant that Tenant has failed to pay in accordance with the terms hereof, or perform on
behalf of Tenant any covenant or obligation of Tenant that Tenant has failed duly to keep, observe and perform, and all sums
so paid by Landlord and all costs incurred by Landlord in connection with such performance shall become Additional Rent
payable hereunder, and shall be repaid by Tenant to Landlord upon demand, together with interest thereon at the Default
Rate.

 

(d)
Tenant hereby expressly waives any and all rights of redemption and exemption, including homestead, granted by or under any present
or future laws, including constitutions, in the event of Tenant being evicted or dispossessed for any cause, or in the event of
Landlord obtaining possession of the Premises by reason of the violation by Tenant of any of the terms, covenants or obligations
of this Lease, or otherwise.

 

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(e) No remedy
herein or otherwise conferred upon or reserved to Landlord shall be considered exclusive of any other remedy but the same shall
be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity
or by statute, and every power and remedy given by this Lease to Landlord may be exercised from time to time and as often as occasion
may arise or as may be deemed expedient. No delay or omission of Landlord to exercise any right or power arising from any default
shall impair any such right or power or shall be construed to be a waiver of any such default or an acquiescence therein, No waiver
of any breach of any of the covenants of this Lease shall be construed or held to be a waiver of any other breach nor waiver,
acquiescence in or consent to any further or succeeding breach of the same covenant. Neither the rights herein given to receive,
collect, sue for, or distrain for any Rent or to enforce the terms, provisions and conditions of this Lease or to prevent the
breach of any other right or remedy hereunder or otherwise granted or arising shall in any way affect, impair, or toll the right
or power of Landlord to declare the term herein granted ended and to terminate this Lease as otherwise herein provided. No failure
of Landlord to insist upon strict compliance by Tenant with the terms and provisions of this Lease, and no custom or practice
of the parties at variance with the terms and provisions hereunder, shall constitute a waiver of Landlord’s rights to demand
strict compliance by Tenant with the terms and provisions hereof.

 

(f)
If any Rent is collected by or through an attorney at law or upon advice therefrom, or if Landlord retains an attorney at law
in connection with enforcement by Landlord of any covenant or obligation of Tenant or of any right or remedy of Landlord hereunder
via written action in a court of law, Tenant agrees to pay the reasonable attorney’s fees and costs incurred by Landlord,
including all appeals.

 

(g)
A termination of this Lease by Landlord or the recovery of possession of the Premises by Landlord or any voluntary or
other surrender of this Lease by Tenant or a mutual cancellation thereof, shall not work a merger and shall at the option
of Landlord, terminate all or any existing franchises or concessions, licenses, permits, subleases, sub tenancies or the
like between Tenant and any third party with respect to the Premises, or may, at the option of Landlord, operate as an
assignment to Landlord of Tenant’s interest in same.

 

(h)
All demands for Rent and all other demands, notices and entries, whether provided for under statute, common law or otherwise,
that are not expressly required by the terms hereof, are hereby waived by Tenant.

 

(i)
In order to secure payment of all Rent becoming due hereunder from Tenant, and to secure payment of any damages or loss that
Landlord may suffer by reason of the breach of Tenant of any covenant, or condition contained herein, Tenant hereby
grants Landlord a security interest upon all goods, wares, equipment, fixtures (including trade fixtures), furniture,
improvements, and other personal property of Tenant presently or hereafter situated in the Premises (the
“Collateral”), and all proceeds from the sale or lease thereof, and such property shall not be removed from the
Premises without the consent of Landlord, except in the ordinary course of business, until Tenant has paid all arrearages in
Rent hereunder and complied with all the agreements and conditions hereof. This Lease is intended as and constitutes a
security agreement within the meaning of the Uniform Commercial Code of the state of Florida, in which the Premises are
located. If a Default occurs, Landlord may, in addition to all other remedies provided herein or by law, enter upon the
Premises and take possession of any and all of the Collateral and sell the Collateral pursuant to the Uniform Commercial Code
provisions of the state in which the Premises are located. Commercially reasonable notice shall be deemed to be at least ten
(10) days’ notice prior to any foreclosure sale of the Collateral. The Collateral shall be sold on the Premises or at such
other location as may be selected by Landlord in Landlord’s sole discretion. Landlord or its assigns may purchase at a public
sale, and unless prohibited by law, at a private sale. The proceeds from any disposition pursuant to this subsection, less
all expenses connected with the taking of possession and foreclosure, including reasonable attorney’s fees and legal
expenses, shall be applied as a credit against Tenant’s indebtedness to Landlord. Any surplus shall be paid to Tenant or as
otherwise required by law. Upon the request by Landlord, Tenant shall execute and deliver to Landlord a financing
statement in form sufficient to perfect the security interest granted herein. If Tenant refuses to do so after request from
Landlord, Tenant hereby appoints Landlord as Tenant’s attorney-in-fact for such purpose, such power being irrevocable and
coupled with an interest. This lien shall be subordinate to any lien of a financial institution with a perfected first
priority purchase money security interest. Any statutory lien for rent is not hereby waived, the express contractual lien
herein granted being in addition and supplementary hereto.

 

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(j)
Mitigation of Damages. If Landlord terminates this Lease or Tenant’s right to possession, Landlord shall have no
obligation to mitigate Landlord’s damages except to the extent required by applicable Law. If Landlord has not terminated
this Lease or Tenant’s right to possession, Landlord shall have no obligation to mitigate under any circumstances and may
permit the Premises to remain vacant or abandoned. If Landlord is required by applicable Law to mitigate damages under this Lease:
(a) Landlord shall be required only to use reasonable efforts to mitigate, which shall not exceed such efforts as Landlord generally
uses to lease other space at the Property, (b) Landlord will not be deemed to have failed to mitigate if Landlord leases any other
portions of the Property before reletting all or any portion of the Premises, and (c) any failure to mitigate as described herein
with respect to any period of time shall only reduce the Rent and other amounts to which Landlord is entitled hereunder by the
reasonable rental value of the Premises during such period. In recognition that the value of the Property depends on the rental
rates and terms of leases therein, Landlord’s rejection of a prospective replacement tenant based on an offer of rentals
below Landlord’s published rates for new leases of comparable space at the Property at the time in question, or at Landlord’s
option, below the rates provided in this Lease, or containing terms less favorable than those contained herein, shall not give
rise to a claim by Tenant that Landlord failed to mitigate Landlord’s damages.

 

(k)
Landlord may demand that all payments made after Default be made by cash, money order, certified or cashier’s check, or other
similar instrument.

 

Section
9.3 LIABILITY OF LANDLORD. (a) Notwithstanding anything elsewhere in this Lease to the contrary, the term “Landlord”
as used in this Lease means, with regard to the obligations and liabilities of Landlord hereunder, only the owner from time
to time of the real property and Parcel of Land of which the Premises are a part, and upon the sale of said real property, Landlord
and each successive owner shall be relieved of all liability hereunder except for liability which arose or accrued while such
owner was Landlord. Landlord and, in case Landlord shall be a joint venture, partnership, tenancy-in-common, association or other
form of joint ownership, the members of any such joint venture, partnership, tenancy-in-common, association or other form of joint
ownership. shall have absolutely no personal liability with respect to any provision of this Lease or any obligation or liability
arising from this Lease or in connection with this Lease in the event of a breach or default by Landlord of any of its obligations.
Tenant shall look solely to the equity of the owner in the Premises at the time of the breach or default (or if the interest of
Landlord is a leasehold interest at that time, Tenant shall look solely to such leasehold interest) for the satisfaction of any
claims of Tenant. Such exculpation of liability shall be absolute and without any exception whatsoever. Notwithstanding the foregoing,
in the event of failure by Landlord to give any consent, as provided in this Lease, Tenant’s sole remedy shall be an action for
specific performance at law, but in no event shall Landlord be responsible in monetary damages for failure to give such consent.
Except as provided in the immediately preceding sentence, Tenant hereby waives, to the extent waivable under law, any right to
specific performance in the event of Landlord’s default referred to herein, and Tenant expressly agrees that, Tenant’s remedy
shall be limited to the monetary damages as permitted by this Section.

 

(b) Anything in this
Lease to the contrary notwithstanding, providing such cause is
not due to the willful act or neglect of Landlord, Landlord shall not be deemed in default with respect to the performance
of any of the terms, covenants and conditions of this Lease if same shall be due to any strike, lockout, civil
commotion, war-like operation, invasion, rebellion, hostilities, military or usurped power, sabotage, governmental
regulations or controls, inability to obtain any material, service or financing, through Act of God or other cause beyond the
control of Landlord. Landlord shall not be responsible or liable for any such delays and the doing or performing of any such
act or thing shall be excused for the period of the delay and the period for the performance of any such act shall be
extended for the period equal to the period of such delay.

  

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Section 9.4 SURRENDER
OF PREMISES. (a) Tenant may (if not in Default) prior to the expiration of this Lease or any extension thereof, remove all
personal property, trade fixtures and equipment which Tenant has placed in the Premises, provided Tenant simultaneously repairs
all damage to the Premises caused by such removal. If Tenant is in Default at the time of any termination of this Lease, Tenant
shall not be entitled to remove any of such personal property, trade fixtures, or equipment, and Landlord shall have all rights
therein as are then available to Landlord by law. Notwithstanding the foregoing, Tenant shall not be permitted to remove any other
alterations, additions or improvements to the Premises without Landlord’s consent, including but not limited to wall coverings,
floor coverings, fixtures (other than trade fixtures). Upon the expiration or earlier termination of this Lease, Tenant shall,
at Landlord’s option, restore the Premises to its condition upon delivery of the Premises by Landlord to Tenant.

 

(b) Upon the
expiration or earlier termination of this Lease or the reentry by Landlord
of the Premises following Default, Tenant shall at once surrender possession of the Premises to Landlord in the
same condition as the Premises were at the date Tenant opened the Premises to the public, reasonable wear and tear
excepted, shall surrender all keys for the Premises to Landlord, and shall remove all Tenant’s effects therefrom subject to
and as provided in subsection (a). Should any property of Tenant remain in or about the Premises following such expiration
or termination (or upon reentry by Landlord following Default), then such property shall be conclusively deemed to have
been abandoned by Tenant, and Landlord shall have the right, at the expense of Tenant, to dispose of said property
without liability for damages or otherwise. Any proceeds from such disposition may be applied by Landlord to the expense of
removal, storage or sale and to any amounts due under this Lease, with the balance to be retained by Landlord.

 

ARTICLE X - NOTICES

 

Section
10.1 NOTICES. Any notice required or permitted to be given hereunder shall be deemed sufficient if in writing and sent by
United States registered or certified mail, postage prepaid, nationally recognized overnight courier, hand-delivery or telecopy
followed by another copy sent in one of the preceding fashions to the party being given notice, at the addresses set forth on
the Lease Summary Sheet. Either party hereto may change its address for notices or may designate other or additional persons to
receive such notices by giving the other party notice of such change. Notice given as herein above provided shall be deemed received
by the party to whom it is addressed on the third day after the day on which said notice, properly addressed and bearing sufficient
postage, is deposited in the United States mail, the day after deposit with an overnight courier, or when hand delivered or telecopied
to such party at the address set forth herein. Tenant hereby appoints as Tenant’s agent to receive service of all dispossessory
or other legal proceedings and notices hereunder the person in charge of the Premises or occupying the Premises at the time of
delivery or service of such proceedings and notices; and if no person is in charge of or occupying the Premises at such time,
then such service or notice may be made by attaching the same on the main entrance to the Premises.

 

ARTICLE
XI - MISCELLANEOUS

 

Section 11.1 DEFINITIONS.
The term “Landlord” as used in this Lease shall include the party signing this Lease as Landlord and its assigns and
successors in title to the Premises. The term “Tenant” shall include the party signing this Lease as Tenant and his
or its heirs, executors, administrators, legal representatives, successors, and, if this Lease shall be validly assigned or if
the Premises should be sublet, shall also include Tenant’s assignees or sublessees, as to the Premises covered by such assignment
or sublease. “Landlord” and “Tenant” shall include male and female, singular and plural, corporation,
partnership or individual, as may fit the particular parties.

 

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Section 11.2 CAPTIONS.
The marginal captions in this Lease are for convenience of reference only and are not to be considered a part hereof and shall
not limit or otherwise affect any of the terms of this
Lease.

 

Section 11.3 RECORDING
OF LEASE. This Lease shall not be recorded without the prior written consent of Landlord, but a short form memorandum hereof
may be recorded at the expense of the requesting party setting forth the parties to the Lease, the description of the Premises,
the Commencement Date and termination date of the Lease and such other information as may be necessary for the recording of a
short form lease. Neither party shall set forth in such short form lease the amount of rental to be paid by Tenant to Landlord.
At such time as this Lease terminates or expires for any reason, Tenant agrees to execute such instruments as necessary to release
any short form lease of record. If Tenant refuses to do so after request from Landlord, Tenant hereby appoints Landlord as Tenant’s
attorney-in-fact for such purpose, such power being irrevocable and coupled with an interest.

 

Section
11.4 TIME. Time is of the essence of this Lease. All time periods are calendar days unless noted otherwise.

 

Section
11.5 SEVERABILITY. If any provision of this Lease or the application of any provision of this Lease to any person or circumstance
shall be invalid or unenforceable to any extent, the remainder of this Lease, or the application of such provision to persons
or circumstances other than those to which it is invalid or unenforceable, shall not be affected thereby; and each provision of
this Lease shall be valid and be enforced to the fullest extent permitted by law.

 

Section
11.6 COMPLETE AGREEMENT. This Lease and the exhibits attached hereto set forth all the terms, conditions, provisions and agreements
between Landlord and Tenant concerning the Premises, and there are no promises, agreements or undertakings, either oral or written,
between the parties concerning the Premises other than as set forth herein. No amendment, modification or addition to this Lease
shall be binding upon the parties unless in writing and executed by the parties.

 

Section
11.7 APPLICABLE LAW. This Lease shall be governed by and construed in accordance with the laws of the State of Florida with
Venue proper in all State and Federal Courts located in Broward County.

 

Section
11.8 DISCRETION. Any reference in the Lease concerning Landlord’s discretion shall mean Landlord’s absolute and sole discretion,
unless otherwise defined in that section.

 

Section
11.9 NO BROKERS. Tenant warrants that it has had no dealings with any broker or agent in connection with the negotiation or
execution of this Lease other than with Landlord’s broker, if any, and Tenant covenants to pay, hold harmless and indemnify Landlord
from and against any and all cost, expense or liability for any compensation, commissions or charges claimed by any broker or
agent, other than Landlord’s broker, if any, with respect to the negotiation or execution of this Lease.

 

Section
11.10 AUTHORIZED PERSONS. Each individual executing this Lease on behalf of Tenant represents and warrants that such individual
has been duly authorized by Tenant to do so, Tenant agrees to provide Landlord with all documentation requested by Landlord in
order to satisfy Landlord that Tenant is a duly organized entity, with the power and authority to enter into this Lease, and the
financial ability to meet its obligations hereunder.

 

Section
11.11 COUNTERPARTS. This Lease may be executed simultaneously in one or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. This Lease may be electronically signed by either
of the parties. This Lease shall not be deemed fully executed until a fully executed document has been delivered to Tenant.

 

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Section 11.12 WAIVER
OF JURY TRIAL. TENANT INTENTIONALLY WAIVES THE RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED HEREON, OR ARISING
OUT OF UNDER OR IN CONNECTION WITH THIS LEASE, OR. ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN)
OR ACTION OF EITHER PARTY.

 

Section
11.13 RADON DISCLOSURE. Landlord makes the following disclosure pursuant to Florida Law:

 

Radon
is a naturally occurring radioactive gas that, when it is accumulated in a building in sufficient quantities, may present health
risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in
Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit.

 

    Landlord’s Initials / Tenant’s Initials /17

     

    

 

IN WITNESS WHEREOF, the parties have hereunto
set their hands or caused this instrument to be executed, by and through their duly authorized officers, officials or representatives,
as of the day and year shown below.

 

	LANDLORD:	 	 	 
	 	 	 	 
	ST RXR. Investments, LLC	 	 	 
	 	 	 	 
	/s/ Samer
Tawfik	 	Witness:	 
	By: Samer Tawfik	 		 
	Title: Manager	 	Witness:	 
	 	 		 
	Date: 	3/1/18	 	 	 
	 	 	 	 
	TENANT	 	 	 
	 	 	 	 
	LMP MOTORS.COM, LLC	 	 	 
	 	 	 	 
	/s/  Samer Tawfik	 	Witness:	 
	By: Samer Tawfik	 		 
	Title: CEO	 	Witness:	 
	 	 	 	 
	Date:	3/1/18	 	 	 

 

 

Landlord’s Initials/ Tenant’s
Initials /18Exhibit
10.4

 

REVOLVING
LINE OF CREDIT AGREEMENT

 

This
Revolving Line of Credit Agreement (the “AGREEMENT”) is made and entered into as of the [25] day of July, 2018,
by and between ST RXR Investments, LLC (“LENDER”), and LMP Automotive Holdings, Inc., a Delaware corporation
(“BORROWER”).

 

In
consideration of the mutual covenants and agreements contained herein, the parties agree as follows:

 

1.
LINE OF CREDIT. Lender hereby establishes for a period extending to December 31, 2018 (the “MATURITY DATE”) a revolving
line of credit (the “CREDIT LINE”) for Borrower in the principal amount of One Million Five Hundred Thousand ($1,500,00.00)
(the “CREDIT LIMIT”). In connection herewith, Borrower shall execute and deliver to Lender a line of credit note, in
substantially the form attached hereto as Exhibit A, in the amount of the Credit Limit and in form and content satisfactory to
Lender (“NOTE”). All sums advanced on the Credit Line or pursuant to the terms of this Agreement (each an “ADVANCE”)
shall become part of the principal of the Note.

 

2.
ADVANCES. Any request for an Advance may be made from time to time and in such amounts as Borrower may choose; provided, however,
that any requested Advance will not, when added to the outstanding principal balance of all previous Advances, exceed the Credit
Limit. Requests for Advances shall be made in writing by such officer of Borrower authorized by it to request such Advances. Until
such time as Lender may be notified otherwise, Borrower hereby authorizes its Chief Executive Officer [or its [Chief Financial
Officer] to request Advances. Lender may deposit or credit the amount of any requested Advance to Borrower’s checking account
with Lender. Lender may refuse to make any requested Advance if an Event of Default (as defined below) has occurred and is continuing
hereunder either at the time the request is given or the date the Advance is to be made, or if an event has occurred or condition
exists which, with the giving of notice or passing of time or both, would constitute an Event of Default hereunder as of such
dates.

 

3.
INTEREST. All sums advanced pursuant to this Agreement shall bear no interest.

 

4.
REPAYMENT. Borrower shall pay the principal balance on any outstanding Note on the earliest of (i) the written demand of Lender,
(ii) the Maturity Date, or (iii) upon the completion of an initial public offering of Borrower’s common stock, including
an initial public offering under Regulation A promulgated under the Securities Act of 1933, as amended (a “QUALIFIED IPO”).
All payments shall be made to Lender at such place as Lender may, from time to time, designate. All payments received hereunder
shall be applied to principal. Borrower may prepay principal at any time without penalty.

 

5.
QUALIFIED IPO. Upon the consummation of a Qualified IPO, all amounts outstanding under this Agreement shall be repaid pursuant
to Section 4 and this Agreement shall terminate. For the avoidance of doubt, Borrower shall have no right to request an Advance
following the consummation of a Qualified IPO.

 

6.
REPRESENTATIONS AND WARRANTIES. In order to induce Lender to enter into this Agreement and to make the advances provided for herein,
Borrower represents and warrants to Lender as follows:

 

a.
Borrower is duly organized, validly existing, and in good standing under the laws of the State of Delaware with the power to own
its assets and to transact business in other states where its business is conducted.

 

     

     

    

 

b.
Borrower has the corporate authority and power to execute and deliver any document required hereunder and to perform any condition
or obligation imposed under the terms of such documents.

 

c.
The execution, delivery and performance of this Agreement and each document incident hereto will not violate any provision of
any applicable law, regulation, order, judgment, decree, certificate of incorporation, by-law, indenture, contract, agreement,
or other undertaking to which Borrower is a party, or which purports to be binding on Borrower or its assets and will not result
in the creation or imposition of a lien on any of its assets.

 

d.
There is no action, suit, investigation, or proceeding pending or, to the knowledge of Borrower, threatened, against or affecting
Borrower or any of its assets which, if adversely determined, would have a material adverse effect on the financial condition
of Borrower or the operation of its business.

 

e.
As of the date hereof and after giving effect to the transactions contemplated hereby, (i) the aggregate value of Borrower’s
assets will exceed its liabilities, (ii) Borrower will have sufficient cash flow to enable it to pay its debts as they mature,
and (iii) Borrower will not have unreasonably small capital for the business in which it is engaged.

 

7.
EVENTS OF DEFAULT. An event of default will occur if any of the following events occurs (“EVENT OF DEFAULT”):

 

a.
Failure to pay any principal on a Note within ten (10) days after the same becomes due.

 

b.
Any representation or warranty made by Borrower in this Agreement or in connection with any borrowing or request for an Advance
hereunder, or in any certificate, financial statement, or other statement furnished by Borrower to Lender is untrue in any material
respect at the time when made.

 

c.
Default by Borrower in the observance or performance of any other covenant or agreement contained in this Agreement, other than
a default constituting a separate and distinct Event of Default under this Paragraph 6; provided, however, that such default is
not remedied within fourteen (14) days after notice thereof is given to Borrower.

 

d.
Filing by Borrower of a voluntary petition in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any
other relief under the US Bankruptcy Code, as amended, or under any other insolvency act or law, state or federal, now or hereafter
existing.

 

e.
Filing of an involuntary petition against Borrower in bankruptcy seeking reorganization, arrangement or readjustment of debts,
or any other relief under the Bankruptcy Code as amended, or under any other insolvency act or law, state or federal, now or hereafter
existing, and the continuance thereof for sixty (60) days undismissed, unbonded, or undischarged.

 

f.
Any order, judgment or decree shall be entered against Borrower decreeing the dissolution or split up of Borrower and such
order shall remain undischarged or unstayed for a period in excess of thirty (30) days.

 

8.
REMEDIES. Upon the occurrence of an Event of Default as defined above, Lender may declare the entire unpaid principal
balance to be immediately due and payable without presentment, demand, protest, or other notice of any kind. Lender may
suspend or terminate any obligation it may have  hereunder to make additional Advances. To the extent permitted by law,
Borrower waives any rights to presentment, demand, protest, or notice of any kind in connection with this Agreement. No
failure or delay on the part of Lender in exercising any right, power, or privilege hereunder will preclude any other or
further exercise thereof or the exercise of any other right, power, or privilege. The rights and remedies provided herein are
cumulative and not exclusive of any other rights or remedies provided at law or in equity. Borrower agrees to pay all costs
of collection incurred by reason of the default, including court costs and reasonable attorney’s fees.

 

    2

     

    

 

9.
NOTICE. Any written notice will be deemed effective on the date such notice is placed, first class, postage prepaid, in the United
States mail, addressed to the party to which notice is being given as follows:

 

	Lender:	ST RXR Investment, LLC

 Attn: [   ]
	 	1330 Avenue of the Americas, Suite 510

                                                                                New York, NY 10019

	 	
	Borrower 	LMP Automotive Holdings, Inc.
	 	Attn.: Samer Tawfik 
	 	601 N State Road 7
	 	Plantation, FL 33317

 

 

 

10.
GENERAL PROVISIONS. All representations and warranties made in this Agreement and the Note and in any certificate delivered pursuant
thereto shall survive the execution and delivery of this Agreement and the making of any loans hereunder. This Agreement will
be binding upon and inure to the benefit of Borrower and Lender, their respective successors and assigns, except that Borrower
may not assign or transfer its rights or delegate its duties hereunder without the prior written consent of Lender. This Agreement,
the Note, and all documents and instruments associated herewith will be governed by and construed and interpreted in accordance
with the laws of the State of Delaware. Time is of the essence hereof. This Agreement will be deemed to express, embody, and supersede
any previous understanding, agreements, or commitments, whether written or oral, between the parties with respect to the general
subject matter hereof. This Agreement may not be amended or modified except in writing signed by the parties.

 

11.
WAIVER OF JURY TRIAL. The parties hereto hereby voluntarily and irrevocably waive trial by jury in any Proceeding (as hereinafter
defined) brought in connection with this Agreement, any of the related agreements and documents, or any of the transactions contemplated
hereby or thereby. As used herein, “Proceeding” includes any threatened, pending, or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened, or completed
proceeding, whether brought by or in the right of any party or otherwise and whether civil, criminal, administrative, or investigative,
in which a Party was, is, or will be involved as a party or otherwise.

 

12.
COUNTERPARTS. Counterparts of this Agreement (or applicable signature pages hereof) that are manually signed and delivered by
facsimile transmission or by electronic mail as a portable document format file (.pdf) or a tagged image file (.tif) shall be
deemed to constitute signed original counterparts hereof and shall bind the parties signing and delivering in such manner.

 

13.
INDEPENDENT ADVICE OF COUNSEL. The parties hereto, and each of them, represent and declare that in executing this Agreement
they relied solely upon their own judgment, belief, knowledge and the advice and recommendations of their own independently
selected counsel, concerning the nature, extent, and duration of their rights and claims, and that they have not been
influenced to any extent whatsoever in executing the Agreement by any representations or statements covering any matters made
by any other party or that party’s representatives hereto.

 

14.
ENTIRE AGREEMENT. This Agreement, together with the Note, constitutes the entire understanding and agreement of the parties
with respect to the general subject matter hereof; supersede all prior negotiations and agreements with respect thereto; may not
be contradicted by evidence of any alleged oral agreement; and may not be amended, modified, or rescinded in any manner except
by a written agreement signed by Lender which clearly and unequivocally expresses an intent to amend, modify, or rescind the same.

 

[Signature
Page Follows]

 

    3

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above written.

 

	 	BORROWER:
	 	 	 
	 	LMP AUTOMOTIVE HOLDINGS, INC.
	 	 	 
	 	By:	/s/ Samer Tawfik 
	 	 	Name: Samer Tawfik
	 	 	Title: Chief Executive Officer

 

	 	LENDER:
	 	 	 
	 	ST RXR INVESTMENTS, LLC.
	 	 	 
		By:	/s/ Sam Tawfik
	 	 	Name: Sam Tawfik
	 	 	Title: President

 

    4

     

    

 

Exhibit
A

 

LINE
OF CREDIT NOTE

 

	$1,500,000.00	As
    of July [_], 2018

 

FOR
VALUE RECEIVED, and intending to be legally bound hereby, LMP Automotive Holdings, Inc., a Delaware corporation (“Borrower”),
hereby unconditionally promises to pay to the order of ST RXR Investments LLC (“Lender”), the amount of up to
ONE MILLION FIVE HUNDRED THOUSAND DOLLARS AND NO/100 ($1,500,000.00), together with any unpaid costs and expenses payable to Lender
hereunder.

 

This
Line of Credit Note (this “Note”) has been issued by Borrower in accordance with the terms of that certain
Revolving Line of Credit Agreement of even date herewith (the “Agreement”), between Borrower and Lender, and
the terms of the Agreement are expressly incorporated herein by reference. All capitalized terms used in this Note and not otherwise
defined herein have the meanings ascribed to such terms in the Agreement. The principal amount due and owing at any time shall
be the sum of all then outstanding Advances (as defined in the Agreement) which had not been repaid.

 

This
Line of Credit Note is issued to evidence Borrower’s indebtedness to Lender for operating expenses in connection with the
operations of Borrower.

 

Without
limiting its other obligations under the Agreement, unless accelerated earlier following the completion of a Qualified IPO, the
written demand of Lender or an occurrence of an Event of Default, Borrower will repay the principal amount of this Note, in accordance
with the Agreement.

 

Lender,
together with Lender’s successors and/or assigns, is entitled to the benefits of this Note and the Agreement and may exercise
the remedies provided for thereby or otherwise available in respect thereof, all in accordance with the terms hereof and thereof.

 

A
waiver or forbearance on the part of Lender of any provision of this Note shall be effective only if the same shall be in writing
and signed by Lender, and then shall not be construed to be a waiver of any subsequent breach or default of any term or condition
of the Note, and the failure of Lender to assert any breach or to declare a default by Borrower or to exercise any right, power
or privilege under this Note shall not be construed to constitute a waiver thereof so long as such breach or default continues
unremedied. No single or partial exercise by Lender of this Note of any right, power or privilege hereunder shall preclude any
other or further exercise thereof or the exercise of any other right, power or privilege, and no notice to or demand on Borrower
in any case shall entitle Borrower to any other or further notice or demand in similar or other circumstances or constitute a
waiver of the right of Lender to any other or further action in any circumstances without notice or demand.

 

Borrower
expressly waives presentment, protest, demand, notice of dishonor, presentment for the purpose of accelerating maturity, and diligence
in collection. This Note, and the terms, conditions and provisions hereof, may not be changed, modified or amended without the
written consent of Borrower and Lender.

 

This
Note, and all claims relating to or arising out of the relationship of the parties hereto with respect to the subject matter hereof,
shall be governed by, construed under and interpreted in accordance with the domestic laws of the State of Delaware, without giving
effect to the principles of any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other
jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.

 

    5

     

    

 

This
Note (i) shall be binding upon Borrower and Lender and, where applicable, their respective successors and permitted assigns, and
(ii) shall inure to the benefit of Borrower and Lender and, where applicable, their respective successors and permitted assigns;
provided, however, that Borrower may not assign its rights or obligations hereunder or any interest herein without the prior written
consent of Lender, and any such assignment or attempted assignment by Borrower shall be void and of no effect with respect to
Lender.

 

For
purposes of the this Note, no course of dealing between Borrower and Lender (or any other holder of this Note), or any of them,
and no delay on the part of any such party in exercising any rights hereunder shall operate as a waiver of the rights thereof.
Any term of this Note may be amended, supplemented, modified or waived only with the written consent of Borrower and Lender.

 

All
notices and other communications given or made pursuant to the Agreement.

 

IN
WITNESS WHEREOF, Borrower has executed and delivered to Lender this Note, as of the day and year first above written.

 

	 	LMP AUTOMOTIVE HOLDINGS, INC.
	 	 	 
	 	By:	/s/ Samer Tawfik
	 	Name: 	 Samer Tawfik
	 	Title:	Chairman, President and Chief Executive Officer

 

    6

     

    

  

REVOLVING
LINE OF CREDIT AGREEMENT

 

This
Revolving Line of Credit Agreement (the “AGREEMENT”) is made and entered into as of the 21 day of May, 2019, by and
between ST RXR Investments, LLC (“LENDER”), and LMP Automotive Holdings, Inc., a Delaware corporation (“BORROWER”).

 

In
consideration of the mutual covenants and agreements contained herein, the parties agree as follows:

 

1.
LINE OF CREDIT. Lender hereby establishes for a period extending
to May 21, 2020 (the “MATURITY DATE”) a revolving line of credit (the “CREDIT LINE”) for Borrower in the
principal amount of One Million Five Hundred Thousand ($1,500,00.00) (the “CREDIT LIMIT”). In connection herewith,
Borrower shall execute and deliver to Lender a line of credit note, in substantially the form attached hereto as Exhibit A, in
the amount of the Credit Limit and in form and content satisfactory to Lender (“NOTE”). All sums advanced on the Credit
Line or pursuant to the terms of this Agreement (each an “ADVANCE”) shall become part of the principal of the Note.

 

2.
ADVANCES. Any request for an Advance may be made from time to time and in such amounts as Borrower may choose; provided, however,
that any requested Advance will not, when added to the outstanding principal balance of all previous Advances, exceed the Credit
Limit. Requests for Advances shall be made in writing by such officer of Borrower authorized by it to request such Advances. Until
such time as Lender may be notified otherwise, Borrower hereby authorizes its Chief Executive Officer [or its [Chief Financial
Officer] to request Advances. Lender may deposit or credit the amount of any requested Advance to Borrower’s checking account
with Lender. Lender may refuse to make any requested Advance if an Event of Default (as defined below) has occurred and is continuing
hereunder either at the time the request is given or the date the Advance is to be made, or if an event has occurred or condition
exists which, with the giving of notice or passing of time or both, would constitute an Event of Default hereunder as of such
dates.

 

3.
INTEREST. All sums advanced pursuant to this Agreement shall bear no interest.

 

4.
REPAYMENT. Borrower shall pay the principal balance on any outstanding Note on the earliest of (i) the written demand of Lender,
(ii) the Maturity Date, or (iii) upon the completion of an initial public offering of Borrower’s common stock, including
an initial public offering under Regulation A promulgated under the Securities Act of 1933, as amended (a “QUALIFIED IPO”).
All payments shall be made to Lender at such place as Lender may, from time to time, designate. All payments received hereunder
shall be applied to principal. Borrower may prepay principal at any time without penalty.

 

5.
QUALIFIED IPO. Upon the consummation of a Qualified IPO, all amounts outstanding under this Agreement shall be repaid pursuant
to Section 4 and this Agreement shall terminate. For the avoidance of doubt, Borrower shall have no right to request an Advance
following the consummation of a Qualified IPO.

 

6.
REPRESENTATIONS AND WARRANTIES. In order to induce Lender to enter into this Agreement and to make the advances provided for herein,
Borrower represents and warrants to Lender as follows:

 

a.
Borrower is duly organized, validly existing, and in good standing under the laws of the State of Delaware with the power to own
its assets and to transact business in other states where its business is conducted.

 

     

     

    

 

b.
Borrower has the corporate authority and power to execute and deliver any document required hereunder and to perform any condition
or obligation imposed under the terms of such documents.

 

c.
The execution, delivery and performance of this Agreement and each document incident hereto will not violate any provision of
any applicable law, regulation, order, judgment, decree, certificate of incorporation, by-law, indenture, contract, agreement,
or other undertaking to which Borrower is a party, or which purports to be binding on Borrower or its assets and will not result
in the creation or imposition of a lien on any of its assets.

 

d.
There is no action, suit, investigation, or proceeding pending or, to the knowledge of Borrower, threatened, against or affecting
Borrower or any of its assets which, if adversely determined, would have a material adverse effect on the financial condition
of Borrower or the operation of its business.

 

e.
As of the date hereof and after giving effect to the transactions contemplated hereby, (i) the aggregate value of Borrower’s
assets will exceed its liabilities, (ii) Borrower will have sufficient cash flow to enable it to pay its debts as they mature,
and (iii) Borrower will not have unreasonably small capital for the business in which it is engaged.

 

7.
EVENTS OF DEFAULT. An event of default will occur if any of the following events occurs (“EVENT OF DEFAULT”):

 

a.
Failure to pay any principal on a Note within ten (10) days after the same becomes due.

 

b.
Any representation or warranty made by Borrower in this Agreement or in connection with any borrowing or request for an Advance
hereunder, or in any certificate, financial statement, or other statement furnished by Borrower to Lender is untrue in any material
respect at the time when made.

 

c.
Default by Borrower in the observance or performance of any other covenant or agreement contained in this Agreement, other than
a default constituting a separate and distinct Event of Default under this Paragraph 6; provided, however, that such default is
not remedied within fourteen (14) days after notice thereof is given to Borrower.

 

d.
Filing by Borrower of a voluntary petition in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any
other relief under the US Bankruptcy Code, as amended, or under any other insolvency act or law, state or federal, now or hereafter
existing.

 

e.
Filing of an involuntary petition against Borrower in bankruptcy seeking reorganization, arrangement or readjustment of debts,
or any other relief under the Bankruptcy Code as amended, or under any other insolvency act or law, state or federal, now or hereafter
existing, and the continuance thereof for sixty (60) days undismissed, unbonded, or undischarged.

 

f.
  Any order, judgment or decree shall be entered against Borrower decreeing the dissolution or split up of Borrower and such
order shall remain undischarged or unstayed for a period in excess of thirty (30) days.

 

8.
REMEDIES. Upon the occurrence of an Event of Default as defined above, Lender may declare the entire unpaid principal balance
to be immediately due and payable without presentment, demand, protest, or other notice of any kind. Lender may suspend or terminate
any obligation it may have  hereunder to make additional Advances. To the extent permitted by law, Borrower waives any rights
to presentment, demand, protest, or notice of any kind in connection with this Agreement. No failure or delay on the part of Lender
in exercising any right, power, or privilege hereunder will preclude any other or further exercise thereof or the exercise of
any other right, power, or privilege. The rights and remedies provided herein are cumulative and not exclusive of any other rights
or remedies provided at law or in equity. Borrower agrees to pay all costs of collection incurred by reason of the default, including
court costs and reasonable attorney’s fees.

 

    2

     

    

 

9.
NOTICE. Any written notice will be deemed effective on the date such notice is placed, first class, postage prepaid, in the United
States mail, addressed to the party to which notice is being given as follows:

 

	Lender:	ST
                                  RXR Investment, LLC

                                  Attn: [   ]
	 	1330 Avenue of the
               Americas, Suite 510
	 	New York, NY 10019
	 	
	Borrower	LMP Automotive Holdings,
                 Inc.
	 	Attn.: Samer Tawfik
	 	601 N State Road 7
	 	Plantation, FL 33317

 

10.
GENERAL PROVISIONS. All representations and warranties made in this Agreement and the Note and in any certificate delivered pursuant
thereto shall survive the execution and delivery of this Agreement and the making of any loans hereunder. This Agreement will
be binding upon and inure to the benefit of Borrower and Lender, their respective successors and assigns, except that Borrower
may not assign or transfer its rights or delegate its duties hereunder without the prior written consent of Lender. This Agreement,
the Note, and all documents and instruments associated herewith will be governed by and construed and interpreted in accordance
with the laws of the State of Delaware. Time is of the essence hereof. This Agreement will be deemed to express, embody, and supersede
any previous understanding, agreements, or commitments, whether written or oral, between the parties with respect to the general
subject matter hereof. This Agreement may not be amended or modified except in writing signed by the parties.

 

11.
WAIVER OF JURY TRIAL. The parties hereto hereby voluntarily and irrevocably waive trial by jury in any Proceeding (as hereinafter
defined) brought in connection with this Agreement, any of the related agreements and documents, or any of the transactions contemplated
hereby or thereby. As used herein, “Proceeding” includes any threatened, pending, or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened, or completed
proceeding, whether brought by or in the right of any party or otherwise and whether civil, criminal, administrative, or investigative,
in which a Party was, is, or will be involved as a party or otherwise.

 

12.
COUNTERPARTS. Counterparts of this Agreement (or applicable signature pages hereof) that are manually signed and delivered by
facsimile transmission or by electronic mail as a portable document format file (.pdf) or a tagged image file (.tif) shall be
deemed to constitute signed original counterparts hereof and shall bind the parties signing and delivering in such manner.

 

13.
INDEPENDENT ADVICE OF COUNSEL. The parties hereto, and each of them, represent and declare that in executing this Agreement they
relied solely upon their own judgment, belief, knowledge and the advice and recommendations of their own independently selected
counsel, concerning the nature, extent, and duration of their rights and claims, and that they have not been influenced to any
extent whatsoever in executing the Agreement by any representations or statements covering any matters made by any other party
or that party’s representatives hereto.

 

14.
ENTIRE AGREEMENT. This Agreement, together with the Note, constitutes the entire understanding and agreement of the parties
with respect to the general subject matter hereof; supersede all prior negotiations and agreements with respect thereto; may not
be contradicted by evidence of any alleged oral agreement; and may not be amended, modified, or rescinded in any manner except
by a written agreement signed by Lender which clearly and unequivocally expresses an intent to amend, modify, or rescind the same.

 

[Signature
Page Follows]

 

    3

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above written.

 

	 	BORROWER:
	 	 	 
	 	LMP
    AUTOMOTIVE HOLDINGS, INC.
	 	 	 
	 	By:	/s/
    Samer Tawfik
	 	 	Name: Samer Tawfik
	 	 	Title: Chief Executive Officer

 

	 	LENDER:
	 	 	 
	 	ST
    RXR INVESTMENTS, LLC.
	 	 	 
		By:	/s/
    Sam Tawfik
	 	 	Name: Sam
    Tawfik
	 	 	Title: President

 

    4

     

    

 

Exhibit
A

 

LINE
OF CREDIT NOTE

 

	$1,500,000.00	As
    of May 21, 2019

 

FOR
VALUE RECEIVED, and intending to be legally bound hereby, LMP Automotive Holdings, Inc., a Delaware corporation (“Borrower”),
hereby unconditionally promises to pay to the order of ST RXR Investments LLC (“Lender”), the amount of up
to ONE MILLION FIVE HUNDRED THOUSAND DOLLARS AND NO/100 ($1,500,000.00), together with any unpaid costs and expenses payable to
Lender hereunder.

 

This
Line of Credit Note (this “Note”) has been issued by Borrower in accordance with the terms of that certain
Revolving Line of Credit Agreement of even date herewith (the “Agreement”), between Borrower and Lender, and
the terms of the Agreement are expressly incorporated herein by reference. All capitalized terms used in this Note and not otherwise
defined herein have the meanings ascribed to such terms in the Agreement. The principal amount due and owing at any time shall
be the sum of all then outstanding Advances (as defined in the Agreement) which had not been repaid.

 

This
Line of Credit Note is issued to evidence Borrower’s indebtedness to Lender for operating expenses in connection with the
operations of Borrower.

 

Without
limiting its other obligations under the Agreement, unless accelerated earlier following the completion of a Qualified IPO, the
written demand of Lender or an occurrence of an Event of Default, Borrower will repay the principal amount of this Note, in accordance
with the Agreement.

 

Lender,
together with Lender’s successors and/or assigns, is entitled to the benefits of this Note and the Agreement and may exercise
the remedies provided for thereby or otherwise available in respect thereof, all in accordance with the terms hereof and thereof.

 

A
waiver or forbearance on the part of Lender of any provision of this Note shall be effective only if the same shall be in writing
and signed by Lender, and then shall not be construed to be a waiver of any subsequent breach or default of any term or condition
of the Note, and the failure of Lender to assert any breach or to declare a default by Borrower or to exercise any right, power
or privilege under this Note shall not be construed to constitute a waiver thereof so long as such breach or default continues
unremedied. No single or partial exercise by Lender of this Note of any right, power or privilege hereunder shall preclude any
other or further exercise thereof or the exercise of any other right, power or privilege, and no notice to or demand on Borrower
in any case shall entitle Borrower to any other or further notice or demand in similar or other circumstances or constitute a
waiver of the right of Lender to any other or further action in any circumstances without notice or demand.

 

Borrower
expressly waives presentment, protest, demand, notice of dishonor, presentment for the purpose of accelerating maturity, and diligence
in collection. This Note, and the terms, conditions and provisions hereof, may not be changed, modified or amended without the
written consent of Borrower and Lender.

 

This
Note, and all claims relating to or arising out of the relationship of the parties hereto with respect to the subject matter hereof,
shall be governed by, construed under and interpreted in accordance with the domestic laws of the State of Delaware, without giving
effect to the principles of any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other
jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.

 

    5

     

    

 

This
Note (i) shall be binding upon Borrower and Lender and, where applicable, their respective successors and permitted assigns, and
(ii) shall inure to the benefit of Borrower and Lender and, where applicable, their respective successors and permitted assigns;
provided, however, that Borrower may not assign its rights or obligations hereunder or any interest herein without the prior written
consent of Lender, and any such assignment or attempted assignment by Borrower shall be void and of no effect with respect to
Lender.

 

For
purposes of the this Note, no course of dealing between Borrower and Lender (or any other holder of this Note), or any of them,
and no delay on the part of any such party in exercising any rights hereunder shall operate as a waiver of the rights thereof.
Any term of this Note may be amended, supplemented, modified or waived only with the written consent of Borrower and Lender.

 

All
notices and other communications given or made pursuant to the Agreement.

 

IN
WITNESS WHEREOF, Borrower has executed and delivered to Lender this Note, as of the day and year first above written.

 

	 	LMP
    AUTOMOTIVE HOLDINGS, INC.
	 	 	 
	 	By:	/s/
    Samer Tawfik
	 	Name: 	Samer Tawfik
	 	Title:	Chairman, President and Chief
    Executive Officer

 

 

 

6

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