Document:

LEASE
AGREEMENT 

 

BY
AND BETWEEN 

 

CARS
MTI-4 L.P. 

(as
Landlord) 

 

AND

 

LDRV
HOLDINGS CORP., 

(as
Tenant) 

 

relating
to: Approximately 125 acres of real property located at 6102 and 6130 Lazy Days Blvd. and 6210 County Road 579, Seffner, Florida

 

 

 

    	 	 	 

     

    

 

TABLE
OF CONTENTS

 

	 	 	 	Page
	ARTICLE
    I 	 	DEFINITIONS	1
	ARTICLE
    II 	 	PREMISES	2
	ARTICLE
    III 	 	LEASE
    TERM	3
	ARTICLE
    IV 	 	BASE
    RENT	4
	ARTICLE
    V 	 	NET
    LEASE; IMPOSITIONS; UTILITIES AND SERVICES	4
	ARTICLE
    VI 	 	ACCEPTANCE
    & USE OF PREMISES	6
	ARTICLE
    VII 	 	ASSIGNMENT
    AND SUBLEASE	9
	ARTICLE
    VIII 	 	MAINTENANCE
    AND REPAIRS 	12
	ARTICLE
    IX 	 	ALTERATIONS
    	12
	ARTICLE
    X 	 	REPRESENTATIONS,
    WARRANTIES AND COVENANTS OF TENANT 	13
	ARTICLE
    XI 	 	INSPECTION	15
	ARTICLE
    XII 	 	INSURANCE	15
	ARTICLE
    XIII 	 	LIABILITY
    AND INDEMNIFICATION	17
	ARTICLE
    XIV 	 	DAMAGE
    OR DESTRUCTION	18
	ARTICLE
    XV 	 	CONDEMNATION	19
	ARTICLE
    XVI 	 	DEFAULT	20
	ARTICLE
    XVII 	 	SUBORDINATION
    AND ATTORNMENT 	22
	ARTICLE
    XVIII 	 	END
    OF LEASE TERM; HOLDING OVER 	24
	ARTICLE
    XIX 	 	QUIET
    ENJOYMENT	25
	ARTICLE
    XX 	 	OPTIONS
    TO EXTEND LEASE TERM	25
	ARTICLE
    XXI 	 	RIGHT
    OF FIRST OFFER	25
	ARTICLE
    XXII 	 	GENERAL
    PROVISIONS 	27
	ARTICLE
    XXIII 	 	REIT
    Status	30

 

EXHIBIT
A – Legal Description of Premises

SCHEDULE
2.3 – Guaranty

SCHEDULE
17.1 – Subordination, Non-Disturbance and Attornment Agreement

SCHEDULE
22.3 – Estoppel Certificate

SCHEDULE
22.18 – Memorandum of Lease SCHEDULE 22.19 – Landlord Waiver and Release Agreement

 

    	i

     

    

 

LEASE
AGREEMENT

 

THIS
LEASE AGREEMENT (this “Lease”), dated as of December 23, 2015 (the “Effective Date”), by
and between CARS MTI-4 L.P., a Delaware limited partnership (“Landlord”), and LDRV HOLDINGS CORP.,
a Delaware corporation (“Tenant”).

 

ARTICLE
I 

DEFINITIONS

 

The
terms below shall have the following definitions when used in this Lease:

 

1.1
Commencement Date. The Effective Date.

 

1.2
Expiration Date. December 31, 2035.

 

1.3
Extension Options. Three extension options of 10 years each, as more particularly described in Article XX below.

 

1.4
Land. The parcel of land located in Seffner, Hillsborough County, Florida, as more fully described on the attached Exhibit
A.

 

	 	1.5
    Landlord Notice Address.	 	CARS
    MTI-4 L.P.
	 	 	 	8270
    Greensboro Drive, Suite 950
	 	 	 	McLean,
    Virginia 22102
	 	 	 	Attn:
    Portfolio Manager
	 	 	 	 
	 	With
    a copy to:	 	Jones
    Day
	 	 	 	1420
    Peachtree Street, NE
	 	 	 	Suite
    800
	 	 	 	Atlanta,
    Georgia 30309
	 	 	 	Attn:
    Scott A Specht, Esq.

 

1.6
Lease Term. The period beginning on the Commencement Date and ending on the Expiration Date, unless modified or earlier
terminated pursuant to the terms of this Lease. The Lease Term shall also include any properly exercised Extension Terms as described
in Article XX below.

 

1.7
Lease Year. Each consecutive 12 month period during the Lease Term, commencing on the Commencement Date; provided, if the
Commencement Date is not the first day of a calendar month, then the first Lease Year is the period beginning on the Commencement
Date and ending on the last day of the calendar month during which the first anniversary of the Commencement Date occurs.

 

1.8
Premises. The Land, together with all improvements, fixtures, and other items of real property now or hereafter located
on the Land, and all appurtenances, rights, privileges, easements, and other property interests existing on, benefiting, or pertaining
to the Land, subject to all liens, encumbrances, restrictions, agreements, and other matters of record. All signs, pylons and
lifts (excluding portable lifts that are not attached to the Land or the improvements thereon) now or hereafter attached to the
Land or the improvements thereon shall constitute fixtures hereunder, except those hereafter attached to the Land that Tenant
establishes to be owned by an unrelated party.

 

    	 	1	 

     

    

 

1.9
Purchase Agreement. The Purchase Agreement, dated as of November 24, 2015, by and between Lazydays Tampa Land Holdings,
LLC, Tenant’s Affiliate, as seller, and Landlord, as purchaser by assignment from CARS MTI-1 L.P. pursuant to Assignment
of Purchase Agreement of even date herewith.

 

	 	1.10
    Tenant Notice Address.	 	LDRV
    Holdings Corp.
	 	 	 	6130
    Lazy Days Boulevard
	 	 	 	Seffner,
    Florida 33584-2968
	 	 	 	Attn:
    Chief Financial Officer
	 	 	 	 
	 	With
    copies to:	 	LDRV
    Holdings Corp.
	 	 	 	6130
    Lazy Days Boulevard
	 	 	 	Seffner,
    Florida 33584-2968
	 	 	 	Attn:
    General Counsel
	 	 	 	 
	 	 	 	and
	 	 	 	 
	 	 	 	Hill
    Ward Henderson
	 	 	 	101
    East Kennedy Bld., Suite 3700
	 	 	 	Tampa,
    Florida 33602

 

1.11
Guarantors. Lazydays Arizona, LLC, Lazydays Land Holdings, LLC, Lazydays Tampa Land Holdings, LLC, Lazy Days’ R.V.
Center, Inc., Lazydays RV America, LLC, Lazydays Mile Hi RV, LLC, and Lazydays RV Discount, LLC (See Section 2.3 below).

 

1.12
Affiliate. Any person or entity that (a) directly or indirectly controls, is controlled by, or is under common control
with, Landlord or Tenant as applicable or (b) holds direct or indirect beneficial ownership (as defined in Rule 13d-3 under the
Securities Exchange Act of 1934, as amended) of voting securities or other voting interests representing at least 5% of the outstanding
voting power of an entity or equity securities or other equity interests representing at least 5% of the outstanding equities
securities or interests in any entity.

 

1.13
Initial Base Rent. $4,480,000.00 per annum.

 

1.14
Base Rent. Initial Base Rent as escalated during the Lease Term in accordance with Section 4.2 below.

 

ARTICLE
II 

PREMISES

 

2.1
Lease of Premises. Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Lease
Term and upon the terms and conditions set forth in this Lease.

 

2.2
Contingency. If this Lease is executed prior to the conveyance of the Premises to Landlord pursuant to the Purchase Agreement,
the parties acknowledge that the effectiveness of this Lease is contingent upon such conveyance and, in the event such conveyance
fails to occur, this Lease shall be void and without force or effect.

 

    	 	2	 

     

    

 

2.3
Guaranty. Concurrently with the execution and delivery of this Lease, Tenant shall cause Guarantors to execute and deliver
to Landlord, and maintain during the Lease Term, a guaranty of this Lease in the form attached hereto as Schedule 2.3 (the
“Guaranty”).

 

ARTICLE
III 

LEASE
TERM 

 

3.1
Lease Term. All of the provisions of this Lease shall be in full force and effect from and after the Effective Date, subject
to Section 2.2 above. The Lease Term shall be as set forth in Article I above.

 

ARTICLE
IV 

BASE
RENT 

 

4.1
Base Rent. From and after the Commencement Date, Tenant shall pay the Base Rent in equal monthly installments in advance
on or before the first day of each month during each Lease Year (provided, Tenant shall not pay any monthly installment of Base
Rent more than 30 days in advance of its due date). If the Commencement Date is not the first day of a month, then the Base Rent
from the Commencement Date until the first day of the following month shall be prorated on a per diem basis based on the number
of calendar days in the month, and Tenant shall pay such prorated installment of the Base Rent on the Commencement Date.

 

4.2
Base Rent Escalation. On the first day of the second Lease Year and on the first day of each Lease Year thereafter (each,
a “Base Rent Adjustment Date”), the Base Rent then in effect shall be increased by an amount equal to the product
of (a) the Base Rent then in effect, multiplied by (b) 300% of the percentage increase between the CPI in effect for the month
preceding the previous Base Rent Adjustment Date (or, with respect to the first scheduled adjustment, the month preceding the
Commencement Date) and the CPI in effect for the month preceding the then current Base Rent Adjustment Date. Such adjusted Base
Rent shall continue in effect as the annual Base Rent until the next Base Rent Adjustment Date. Notwithstanding the foregoing,
in no event shall the Base Rent, as so escalated, for any Lease Year be less than 101.65%, or more than 102%, of the escalated
Base Rent in effect for the immediately preceding Lease Year. As used in this Lease, the term “CPI” means the
Consumer Price Index for All Urban Consumers (CPI-U), U.S. City Average, all items (1982-84), as published by the United States
Department of Labor, Bureau of Labor Statistics. If the CPI is changed so that a base year other than 1982-84 is used, then the
CPI shall be adjusted in accordance with the conversion factor published by the Bureau of Labor Statistics. If the CPI is discontinued
or revised, the CPI used for purposes of this Lease shall be adjusted or replaced by Landlord with an index or measure reasonably
calculated by Landlord to measure the change in the cost of living in a manner consistent with the CPI.

 

4.3
Additional Rent. Except as otherwise provided in this Lease, any additional rent or other sum owed by Tenant to Landlord
under this Lease (other than Base Rent), and any cost, expense, damage, or liability incurred by Landlord for which Tenant is
liable, shall be considered “Additional Rent”, and shall be paid by Tenant within 30 days after the date Landlord
notifies Tenant of the amount thereof.

 

4.4
Payment of Base Rent and Other Sums Due. All sums payable by Tenant under this Lease, including, without limitation, Base
Rent or Additional Rent, shall be paid to Landlord in legal tender of the United States, without setoff, deduction, or demand
(except as otherwise expressly provided in this Lease), by direct deposit wire transfer of immediately available funds to the
following bank account, or to such other party or address as Landlord may designate in writing:

 

    	 	3	 

     

    

 

For
a Wire Payment:

 

Bank
of America

ABA
(Wire) #: 0260-0959-3

For
credit to Capital Automotive L.P., Operating Account # 004112955706

 

For
an ACH Payment:

 

Bank
of America ABA

(ACH)
#: 051 000 017

For
credit to Capital Automotive L.P., Operating Account # 004112955706

 

Landlord’s
acceptance of Base Rent or Additional Rent after it shall have become due and payable shall not excuse, or constitute a waiver
of Landlord’s rights with respect to, any subsequent late payments by Tenant.

 

4.5
Late Payment. If any amount of Base Rent or Additional Rent is not received by Landlord within five days after the date
such payment is due (without regard to any grace period specified in Section 16.1), then in addition to paying the amount then
due, Tenant shall pay to Landlord, without notice or demand, a late charge (“Late Charge”) equal to 5% of such
unpaid Base Rent and Additional Rent. In addition, such unpaid Base Rent and Additional Rent and such Late Charge shall bear interest
at the Default Rate (as defined in Section 16.6) from the date such payment or Late Charge, respectively, became due to the date
of payment thereof by Tenant; provided, however, that nothing contained herein shall be construed as permitting
Landlord to charge or receive interest in excess of the maximum rate then allowed by law. Payment of such Late Charge will not
excuse the untimely payment of Base Rent or Additional Rent. Any Late Charge and interest shall constitute Additional Rent.

 

ARTICLE
V 

NET
LEASE; IMPOSITIONS; UTILITIES AND SERVICES 

 

5.1
Net Lease. Except as otherwise expressly provided in this Lease, (a) this Lease shall be an absolute net lease, so that
this Lease shall yield all Base Rent payable by Tenant as an absolutely net return to Landlord, and (b) with the exception of
Landlord’s Income Taxes (as defined below), Tenant shall pay all taxes, insurance, ground rents, easement charges, association
fees, and other costs, expenses, and obligations of every kind and nature whatsoever relating to the Premises, including, without
limitation, costs with respect to the ownership and operation of the Premises that accrue prior to the expiration or earlier termination
of the Lease Term.

 

5.2
Payment of Impositions. Tenant shall pay all Impositions at least 15 days prior to the date they become due. As soon as
practicable after the payment thereof, but in no event less than five days prior to the date they become due, Tenant shall deliver
to Landlord written evidence of each such payment. To the extent that any such Impositions are imposed upon Landlord, at Landlord’s
option, Tenant shall either pay such Impositions directly to the taxing authority or reimburse Landlord for such Impositions.
If the Lease Term expires on a day other than the last day of a calendar year, then Tenant’s liability for Impositions for
such calendar year shall be apportioned by multiplying the amount of Impositions for the full calendar year by a fraction, the
numerator of which is the number of days during such calendar year falling within the Lease Term, and the denominator of which
is 365. By way of example only, if the Lease Term expires on January 31 of a given calendar year, and if the Impositions for such
calendar year are $10,000, Tenant would be responsible for paying $850 of the Impositions for such calendar year (i.e., $10,000
x 31/365).

 

    	 	4	 

     

    

 

5.3
Definition of Impositions. The term “Impositions” means, collectively, taxes, including without limitation,
any present or future real estate taxes, all taxes or other impositions that are in the nature of or in substitution for real
estate taxes, business or occupation, single business, transaction, privilege, franchise, capital stock, excise, or profits taxes,
as well as special user fees, license fees, permits, improvement bonds, levies, improvement district charges, governmental charges,
rates, and assessments, general, special, ordinary or extraordinary, foreseen and unforeseen, that are imposed upon Landlord,
Tenant, or the Premises (including, without limitation, any fixtures, machinery, equipment, or systems used in connection with
the Premises or the business being operated on the Premises). Notwithstanding the foregoing, the term “Impositions”
shall not include any federal, state, or local tax imposed on Landlord that is based upon Landlord’s net income or any succession
or stock transfer tax, franchise tax, capital stock tax, or tax imposed on Landlord due to Landlord’s transfer of the Premises
(“Landlord’s Income Taxes”).

 

5.4
Contest of Impositions. Tenant, at its sole expense, upon at least 10 days prior written notice to Landlord, but without
Landlord’s consent, shall have the right to contest the amount or validity of any Imposition by diligently conducting in
good faith an appropriate legal or administrative proceeding, provided the following conditions are met: (a) the Impositions are
paid or the postponement of payment of Impositions, without penalty, as part of such proceeding is permitted by applicable Laws
(as defined in Section 6.2 below); (b) the Premises shall not, by reason of such postponement of payment, or the initiation of
such proceeding, be subject to forfeiture, sale, or loss; (c) such proceedings shall not impact or interfere with the use or occupancy
of the Premises; (d) such proceedings shall not affect or interfere with Tenant’s continued payment of Base Rent or Additional
Rent; and (e) pursuing the contest of Impositions shall not in any way expose Landlord to any criminal or monetary civil liability,
penalty, or sanction (unless Tenant posts security sufficient to indemnify any and all losses potentially suffered by Landlord
as a result of such monetary civil liability, penalty, or sanction, in form and amount reasonably satisfactory to Landlord). Tenant
further agrees that each such contest shall be promptly and diligently prosecuted to a final conclusion, and Tenant shall pay
all judgments, decrees, and costs (including any costs incurred by Landlord) in connection with any such contest and shall, promptly
after the final determination of such contest, fully pay and discharge the amounts that shall be levied. Tenant shall be entitled
to any refund or reduction obtained or received with respect to the Impositions.

 

5.5
Assessments on Tenant’s Business and Personalty. Tenant shall pay before delinquency any business, rent, sales, franchise,
or other taxes or fees that are now or hereafter levied, assessed, or imposed upon Tenant’s use, operation, or occupancy
of the Premises, the conduct of Tenant’s business at the Premises, or Tenant’s equipment, trade fixtures, furnishings,
inventory, or personal property. If any such tax or fee is enacted or altered so that such tax or fee is levied against Landlord,
or so that Landlord is responsible for collection or payment thereof, then Tenant shall pay to Landlord as Additional Rent the
amount of such tax or fee.

 

5.6
Utilities and Services. Tenant, at its own expense, shall arrange with the appropriate utility companies and service providers
for the provision of all utilities and services to the Premises desired by Tenant (including, without limitation, water, sewer,
trash collection, electricity, gas, cable, and telephone). Tenant shall pay directly to the appropriate utility companies and
service providers all charges for all utilities consumed in, and services performed for, the Premises, as and when such charges
become due and payable. To the extent the invoices for any such utilities and services are received by Landlord, at Landlord’s
option, Tenant shall either pay the charge for such utilities and services directly to the utility or service provider or reimburse
Landlord for such charges.

 

    	 	5	 

     

    

 

5.7
Rent Tax. Tenant shall pay and be liable for all rental, sales, and use taxes, or other similar taxes, if any, levied or
imposed by any applicable city, state, county, or other governmental body on the rents or other amounts payable by Tenant under
this Lease, which taxes shall be payable by Tenant concurrently with Tenant’s payment of the rent upon which the tax is
being imposed.

 

ARTICLE
VI 

ACCEPTANCE
& USE OF PREMISES 

 

6.1
Acceptance of Premises. TENANT ACKNOWLEDGES THAT IT HAS OCCUPIED THE PREMISES SINCE 1996 AND IS COMPLETELY FAMILIAR WITH
THE PREMISES AND LEGALLY PERMISSIBLE USES THEREON. ACCORDINGLY, TENANT ACCEPTS POSSESSION OF THE PREMISES IN ITS “AS IS”
CONDITION AS OF THE LEASE COMMENCEMENT DATE. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO
THE PREMISES, EITHER AS TO COMPLIANCE WITH ANY LAW, ITS FITNESS FOR EXISTING AND FUTURE USE, ITS DESIGN OR CONDITION, OR ANY PARTICULAR
USE OR PURPOSE TO WHICH THE PREMISES MAY BE FIT, OR OTHERWISE, OR AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, OR
THE EXISTENCE OF ANY DEFECTS, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE BORNE BY TENANT.

 

6.2
Use of Premises.

 

(a)
Tenant shall use and occupy the Premises for the operation of a recreational vehicle dealership, including, without limitation,
new and used recreational vehicle sales, rentals, and service, and any and all related, ancillary, or complementary purposes (which
may include, without limitation, the sale of recreational vehicle parts and accessories, food service operations, and the operation
of a campground), and for no other purposes without Landlord’s prior written consent, which consent shall not be unreasonably
withheld, conditioned, or delayed. Tenant shall not use or occupy the Premises for any unlawful purpose, or in any manner that
will violate the certificate of occupancy or other permit or license for the Premises or that will constitute waste or nuisance.
Tenant shall, at Tenant’s expense, comply with all present and future laws (including, without limitation, the Americans
with Disabilities Act), ordinances (including without limitation, zoning ordinances and land use requirements), regulations, orders,
recommendations, decisions, and decrees now or hereafter promulgated (including, without limitation, those made by any public
or private agency or owner’s association), as any of the same may be amended from time to time (collectively, “Laws”)
concerning Tenant, the use, occupancy, and condition of the Premises and the business being conducted thereon, and all machinery,
equipment, furnishings, fixtures, and improvements on or used in connection with the Premises. If any such Law requires an occupancy
or use permit or license for the Premises or the operation of the business conducted therein, then Tenant shall obtain and keep
current such permit or license at Tenant’s expense. Tenant shall deliver to Landlord, promptly upon request, all licenses,
permits, and other certificates evidencing compliance of Tenant and the Premises with Laws. If any such Law requires any modification
to the Premises, Tenant shall perform such modifications, at its sole cost and expense, in accordance with the terms and conditions
of Article IX below. Tenant’s use of the Premises is subject to, and Tenant shall comply with, and perform at Tenant’s
sole expense, all covenants, conditions, easements, and any other restrictions affecting the Premises including without limitation
all obligations of the owner or operator of the Property, whether or not the same existed at the Commencement Date, including
without limitation, the maintenance, operation, use, insurance, payment and indemnity obligations and restrictions under (a) Access
and Utility Easement dated July 21, 1995, and recorded in Official Records Book 7830, Page 596, Public Records of Hillsborough
County, Florida (the “Official Records”), as amended, (b) Warranty Deed dated February 14, 1967, and recorded
in Official Records Book 1731, Page 408 of the Official Records, as corrected by instruments recorded in the Official Records
in Official Records Book 1746, Page 466, Official Records Book 1942, Page 118, Official Records Book 3199, Page 895 and Official
Records Book 3467, Page 1308, and (c) Restrictive Non-Compete Covenant dated April 6, 1998, and recorded in Official Records Book
8982, Page 1300 of the Official Records, as amended.

 

    	 	6	 

     

    

 

(b)
Tenant shall continuously and actively operate a recreational vehicle dealership at the Premises in a reputable manner; provided
however, notwithstanding the aforesaid, Tenant shall have the right to discontinue temporarily such operations and business at
the Premises to accommodate any alterations or improvements undertaken in accordance with the terms of this Lease, including,
without limitation, any modifications or improvements to comply with Laws under this Section 6.2, any remedial or other activities
under Section 6.3 below, any Alterations under Article IX, any Restoration following any casualty as contemplated under Article
XIV, or any restoration following any condemnation as contemplated under Article XV.
Notwithstanding the foregoing, with respect to (i) any activities or Alterations relating to Section 6.2, 6.3, Article XIV and
Article XV, Tenant’s discontinuation of its operations and business shall not exceed one (1) year, provided that during
such time Tenant is diligently and continuously pursuing and completing the activities or Alterations required to resume its operations
and business; and (ii) any Alterations relating to Article IX, Tenant’s discontinuation of its operations and business shall
not exceed 180 days.

 

6.3
Hazardous Materials.

 

(a)
Tenant shall not cause or permit any Hazardous Materials (as hereinafter defined) to be generated, used, released or stored, in
or about the Premises, provided that Tenant may use or store such quantities of Hazardous Materials commonly used in the ordinary
course of Tenant’s business operations (consistent with the uses described in the first sentence of Section 6.2 above),
provided such Hazardous Materials are used, stored, and disposed of in accordance with all Environmental Laws (as hereinafter
defined) and commercially reasonable prevailing industry standards. At the expiration or earlier termination of this Lease, Tenant
shall surrender the Premises to Landlord in compliance with all Environmental Laws and commercially reasonable prevailing industry
standards. “Hazardous Materials” means (i) asbestos and any asbestos containing material, (ii) any substance
that is regulated, defined or listed in, or otherwise classified pursuant to, any Environmental Law or any other applicable Law
as a “hazardous substance”, “hazardous material”, “hazardous waste”, “infectious waste”,
“toxic substance”, “toxic pollutant”, pollutant, contaminant or any other formulation intended to regulate,
define, list, or classify substances by reason of deleterious properties such as ignitability, corrosivity, reactivity, carcinogenicity,
toxicity, reproductive toxicity, or Toxicity Characteristic Leaching Procedure (TCLP) toxicity, and (iii) any petroleum product,
cleaning solvents, polychlorinated biphenyls, urea formaldehyde, radon gas, radioactive material (including any source, special
nuclear, or by-product material), medical waste, chlorofluorocarbon, lead, or lead-based product, and any other substance whose
presence could reasonably be expected to be detrimental to the Premises or hazardous to health or the environment. “Environmental
Law” means any present and future Laws, permits, and other requirements or guidelines of governmental authorities applicable
to the Premises and relating to the environment and environmental conditions, industrial hygiene, public health or safety, or
to any Hazardous Material (including, without limitation, CERCLA, 42 U.S.C. § 9601 et seq., the Resource Conservation
and Recovery Act of 1976, 42 U.S.C. § 6901 et seq., the Hazardous Materials Transportation Act, 49 U.S.C. § 1801
et seq., the Federal Water Pollution Control Act, 33 U.S.C. § 1251 et seq., the Clean Air Act, 33 U.S.C. §
7401 et seq., the Toxic Substances Control Act, 15 U.S.C. § 2601 et seq., the Safe Drinking Water Act, 42 U.S.C.
§ 300f et seq., the Emergency Planning and Community Right-To-Know Act, 42 U.S.C. § 1101 et seq., the
Occupational Safety and Health Act, 29 U.S.C. § 651 et seq., and any so-called “Super Fund” or “Super
Lien” law, self-implementing clean-up or equivalent programs, any Law requiring the filing of reports and notices relating
to Hazardous Materials, environmental laws administered by the Environmental Protection Agency, and any similar state and local
Laws.

 

    	 	7	 

     

    

 

(b)
An “Environmental Default” means any of the following: a violation of an Environmental Law, a release, spill,
discharge, leak, emission or detection (collectively “Release”) of a Hazardous Material at, on, under, about
or from the Premises (regardless of whether or not a reporting requirement exists) and regardless of whether said Release occurred
prior to or after the Lease Commencement Date, or an environmental condition requiring responsive or remedial action or a breach
of this Section 6.3. Notwithstanding the foregoing, no Environmental Default shall be deemed to be continuing where Tenant has
taken all actions required by applicable governmental authorities, to the satisfaction of such applicable governmental authorities,
as evidenced by a “no-further-action letter” or other evidence similar thereto, which may entail continued monitoring
of any such remedial actions performed or undertaken by Tenant beyond the cure periods set forth above. Upon any Environmental
Default, in addition to all other rights available to Landlord under this Lease, at law or in equity, Landlord shall have the
right but not the obligation, at its option, (i) to require Tenant, at Tenant’s sole cost and expense, to cure such Environmental
Default, including by entering into the state’s voluntary or self-implementing clean-up program if available, and obtaining
an unconditional no further action letter equivalent from the appropriate federal, state, and local government authorities, all
in accordance with all Environmental Laws, commercially reasonable standards, and the requirements of this Section 6.3, and all
to the reasonable satisfaction of Landlord. Landlord shall have the right to supervise and approve any actions taken by Tenant
to address an Environmental Default, including the pre-approval of any qualified environmental consultant hired to remedy the
Environmental Default, or (ii) if Tenant fails to diligently do so as required herein, to perform, at Tenant’s sole cost
and expense, any lawful action Landlord, in its sole discretion, deems necessary or appropriate to address the same, in which
event Tenant shall pay the costs thereof to Landlord as Additional Rent. Landlord has the right but not the obligation to require
that Tenant provide such security or assurances as Landlord, in its commercially reasonable discretion, may deem necessary to
ensure completion of and payment for the required corrective action, to be held by Landlord until the corrective action is completed
and a no further action letter or equivalent has been obtained (an “Environmental Security”). Provided that
the Environmental Security is in the form of cash or a letter of credit and that the balance of the Environmental Security is
sufficient to pay or secure, as applicable, the remaining costs to complete the corrective actions, at the written request of
Tenant, Tenant shall be entitled to draw portions of the Environmental Security. To draw on the Environmental Security, Tenant
must deliver to Landlord (i) written evidence that the work relating to the corrective action has been or is being completed,
and (ii) copies of invoices or statements and evidence of payment of the amounts due for such corrective action.

 

    	 	8	 

     

    

 

(c)
If Landlord has a reasonable basis for believing an Environmental Default exists, or if required by any Lender, or required pursuant
to applicable laws, Landlord shall have the right, but not the obligation, upon prior written notice to Tenant, to conduct an
audit, or audits as may be appropriate, of the Premises (including without limitation, the air, soil, surface water, and groundwater
at or near the Premises) and Tenant’s compliance with Environmental Laws, commercially reasonable standards and this Section
6.3. If Landlord determines in its sole discretion that a subsurface investigation or further assessment is needed and results
of such investigation indicate that there is an Environmental Default of any kind, Tenant shall be responsible for the cost of
such investigation and assessment as Additional Rent. If Landlord reasonably determines that remediation or removal, alterations,
improvements, or replacements of equipment on the Premises are necessary in connection with any such compliance with all Environmental
Laws, Landlord shall have the right, but not the obligation, (i) to require Tenant, at Tenant’s expense, to perform the
same, or (ii) if, within five days of written notice from Landlord Tenant fails to diligently do so, to perform the same, at Tenant’s
sole cost and expense, in which event Tenant shall pay the costs thereof to Landlord as Additional Rent. If any Lender or governmental
agency shall require testing or other investigation at or near the Premises and Landlord incurs expenses in complying with such
requirement, then Tenant shall pay to Landlord the reasonable costs therefor as Additional Rent. Landlord shall not materially
interfere with Tenant’s business operations when conducting any such audit of the Premises.

 

(d)
As a material consideration for Landlord’s willingness to enter into this Lease, Tenant hereby waives, and releases Landlord
and its Affiliates, partners, officers, directors, members, trustees, employees, agents and Lenders from any and all claims for
damage, injury or loss (including without limitation, claims for the interruption of or loss to business) (collectively, “Claims”)
which relate to any Environmental Default, or the presence of Hazardous Materials at, in, above, on, under, about, or released
from the Premises, whether occurring prior or subsequent to the Lease Commencement Date. Promptly upon request, Tenant shall execute
from time to time affidavits, representations and similar documents concerning Tenant’s best knowledge and belief regarding
the presence of Hazardous Materials at the Premises.

 

(e)
Tenant’s obligations pursuant to this Section 6.3 shall survive the expiration or earlier termination of this Lease. If
any required actions by Tenant pursuant to this Section 6.3 continue beyond the expiration or earlier termination of this Lease,
Tenant shall be deemed to be in possession of the Premises as a holdover tenant for such period and Tenant shall continue to pay
to Landlord an amount equal to 100% of the Base Rent and Additional Rent that would have been payable under this Lease for the
period of such required actions in the absence of the expiration or earlier termination of this Lease.

 

ARTICLE
VII 

ASSIGNMENT
AND SUBLEASE 

 

7.1
Assignment and Sublease. Except as expressly provided otherwise in this Article VII, Tenant shall not, whether for its
own account or otherwise, assign this Lease or sublet or grant concessions or licenses or other rights for the occupancy or the
use of all or any part of the Premises (each, a “Transfer”), without Landlord’s prior written consent
to such Transfer, which consent shall not be unreasonably withheld, conditioned, or delayed. Subject to the provisions of Sections
7.2 and 7.3 below, any transfer of all or substantially all of the assets of Tenant or 50% or more of the stock or other direct
or indirect ownership interests in Tenant (whether in one or a series of transactions), any merger of Tenant into another entity
or of another entity into Tenant, or any transfer occurring by operation of law shall be deemed to constitute a Transfer by Tenant
of its interest hereunder for the purposes hereof. Each such Transfer shall expressly be made subject to the provisions hereof.
Subject to the provisions of Section 7.4 below, no such Transfer shall modify or limit any right or power of Landlord hereunder
or affect, reduce, or relieve Tenant of any duty or obligation of Tenant hereunder, and all such duties and obligations shall
be those of Tenant and shall continue in full effect as obligations of Tenant as a principal and not of a guarantor or surety,
as though no subletting or assignment had been made, such liability of the Tenant named herein to continue notwithstanding any
Transfer and subsequent modifications or amendments of this Lease after such Transfer. Any Transfer by Tenant without Landlord’s
prior written consent, except as otherwise expressly permitted by this Lease (including, without limitation, as permitted pursuant
to Section 7.2 or 7.3 below), shall be null and void, ab initio, shall constitute bad faith, and shall constitute an immediate
Event of Default hereunder. Tenant shall, within 20 days after the execution of any assignment, sublease, or other Transfer document,
deliver a conformed copy thereof to Landlord.

 

    	 	9	 

     

    

 

7.2
Permitted Transfers. Notwithstanding anything in this Article VII or elsewhere in this Lease to the contrary, and without
limiting anything in Section 7.3 below, Landlord may not withhold its consent to a proposed Transfer so long as the following
criteria are satisfied:

 

(a)
The proposed use of the Premises complies with the terms and conditions of this Lease;

 

(b)
No Event of Default exists at the time of the proposed Transfer;

 

(c)
In the event of an assignment of Tenant’s interest in this Lease (but not a sublease), the net worth (determined in accordance
with generally accepted accounting principles, consistently applied, as evidenced by financial statements prepared by an independent
CPA) of Tenant’s assignee is, at the time of the assignment, equal to or greater than $60,000,000;

 

(d)
In the event of an assignment of Tenant’s interest in this Lease (but not a sublease), (i) the net worth (determined in
accordance with generally accepted accounting principles, consistently applied, as evidenced by financial statements prepared
by an independent CPA) of Tenant’s assignee is, at the time of the assignment, equal to or greater than $40,000,000 but
less than $60,000,000, and (ii) Tenant (or Tenant’s assignee) has deposited or caused to be deposited with Landlord or Landlord’s
mortgagee, as Landlord shall designate, an amount equal to 12 months of the then-prevailing Base Rent, plus an amount equal to
the prior calendar year’s real estate taxes and insurance (casualty, general liability, and rent loss/business interruption)
expenditures as a “Security Deposit” for its full and faithful performance of the terms of this Lease, it being
expressly understood that such Security Deposit shall not be considered an advance payment of any Base Rent, Additional Rent,
or other sums payable under this Lease or a measure of Landlord’s damages in case of an Event of Default. Payment of said
Security Deposit shall be satisfied by Tenant’s deposit of cash or a Letter of Credit (as defined below) in said amount.
Tenant shall have the right to freely substitute cash for a Letter of Credit or vice versa. If Landlord transfers its interest
in the Premises during the Lease Term to a transferee who assumes Landlord’s obligations hereunder and to whom the Security
Deposit is transferred, Landlord may assign the Security Deposit to the transferee and, thereafter, Landlord shall have no further
liability for the return of such Security Deposit to Tenant. If the Security Deposit is in the form of a Letter of Credit, Tenant
shall execute and deliver, within five days after request therefor by Landlord, any and all documents necessary to transfer the
Letter of Credit to the transferee. For the purposes herein, the term “Letter of Credit” means an irrevocable
standby letter of credit issued to Landlord by a financially sound national banking association or state chartered bank having
assets in excess of $50,000,000,000 and otherwise reasonably acceptable to Landlord, the proceeds of which shall be available
to Landlord without the need for Landlord to satisfy any requirements or conditions whatsoever other than delivery of (A) the
original Letter of Credit along with Landlord’s sight draft to the issuing institution with reference to the appropriate
letter of credit number for the Letter of Credit, as set forth therein, and (B)(1) a certificate signed by Landlord certifying
that an Event of Default has occurred and is continuing under this Lease, or (2) a certificate signed by Landlord certifying that
Tenant has failed to renew the Letter of Credit at least 30 days prior to its stated expiration date. The Letter of Credit shall
be valid for an initial period of one year from and after the date of its issuance and, by its express terms, shall provide (x)
that its term shall automatically be extended for successive one year periods unless at least 30 days prior to the expiration
of the initial one year term or any one year extension (as applicable) the issuer provides Landlord with written notification
that it will not be extended, and (y) that Landlord may assign (whether by way of outright or collateral assignment) all or any
portion of its interest in the Letter of Credit to Landlord’s mortgagee or any other person (including, without limitation,
any third party purchaser).

 

    	 	10	 

     

    

 

In
the event that a Security Deposit is provided pursuant to Section 7.2(d), and Tenant subsequently provides a financial statement
to Landlord demonstrating that Tenant’s net worth (determined in accordance with generally accepted accounting principles,
consistently applied, as evidenced by financial statements prepared by an independent CPA) is equal to or greater than $60,000,000,
Landlord shall promptly return the Security Deposit, if in the form of cash, or return the Letter of Credit to Tenant or consent
to the cancellation thereof, if the Security Deposit is in the form of a Letter of Credit.

 

7.3
Affiliate and Successor Transfers. Notwithstanding anything in this Article VII or elsewhere in this Lease to the contrary,
Landlord’s consent shall not be required with respect to any Transfer to any entity: (a) that results from an organizational
change of Tenant or the division of Tenant into two or more entities; (b) that, directly or indirectly, through one or more intermediaries,
controls, is controlled by or is under common control with Tenant; (c) with which or into which Tenant or any direct or indirect
parent of Tenant has merged or consolidated in accordance with applicable statutory provisions governing merger and consolidation
of business entities; (d) that acquires all or substantially all of the assets of Tenant or any direct or indirect parent of Tenant;
or (e) that acquires a controlling equity interest in Tenant or any direct or indirect parent of Tenant; provided that, in each
such case, the Transfer is not undertaken primarily for the purposes of avoiding the consent requirement contained in Section
7.1 above.

 

7.4
Release Upon Qualified Assignment. Notwithstanding anything in this Article VII or elsewhere in this Lease to the contrary,
upon an assignment of this Lease to a Qualified Assignee (as defined below), the assigning Tenant shall be automatically released
from any and all liabilities and obligations under this Lease arising out of or relating to the portion of the Lease Term following
the effective date of the assignment. A “Qualified Assignee” means an assignee meeting the net worth requirement
set forth in either Section 7.2(c) or Section 7.2(d) (provided, if the Security Deposit is required to be provided in connection
with such assignment pursuant to Section 7.2(d), such Security Deposit shall be delivered to Landlord as a condition to Tenant’s
release).

 

7.5
Sublease Consent. If Tenant shall enter into a sublease with respect to all or a portion of the Premises, and Landlord
shall consent to such sublease, which consent shall not be unreasonably withheld, conditioned, or delayed, then upon Tenant’s
written request, Landlord agrees to execute a consent to sublease.

 

7.6
Tenant Financing. Tenant may, without Landlord’s prior written consent, execute, or deliver any mortgage, deed of
trust, assignment of leases, security agreement, or other hypothecating instrument encumbering Tenant’s interest under this
Lease or the leasehold estate in the Premises created hereby, and Landlord agrees to cooperate with Tenant and its lenders in
this regard and to execute any reasonable documents requested by Tenant or its lender(s) in connection with any such financing.

 

7.7
Transfer by Landlord. Landlord shall be free to transfer its interest in the Premises or any part thereof or interest therein,
subject, however, to the terms of this Lease. Any such transfer shall relieve the transferor of all liability and obligations
hereunder (to the extent of the interest transferred) accruing after the date of the transfer and any assignee or transferee shall
deemed to have assumed all obligations of Landlord hereunder arising from and after the date of such transfer and be bound by
the terms and provisions of this Lease.

 

    	 	11	 

     

    

 

ARTICLE
VIII 

MAINTENANCE
AND REPAIRS 

 

8.1
Maintenance and Repairs. Tenant, at its own expense, will maintain all parts of the Premises in good repair, appearance
and condition in accordance with all Laws and will take all commercially reasonable action and will make all commercially reasonable
structural and nonstructural, foreseen and unforeseen and ordinary and extraordinary changes and repairs which may be required
to keep all parts of the Premises in good repair and condition (including, but not limited to, all painting, glass, utilities,
conduits, fixtures and equipment, foundation, roof, exterior walls, heating and air conditioning systems, wiring, plumbing, sprinkler
systems, and other utilities, and all paving, sidewalks, roads, parking areas, curbs and gutters, and fences).

 

ARTICLE
IX 

ALTERATIONS

 

9.1
Consent Required for Alterations. During the Lease Term, Tenant may, at its expense, make additions to and alterations
of the improvements, alter or demolish existing improvements and fixtures, and construct additional improvements (“Alterations”),
provided that (a) the fair market value, the utility, the square footage, or the useful life of the Premises shall not be materially
lessened thereby, (b) such work shall be expeditiously completed in a good and workmanlike manner and in compliance with all applicable
Laws and the requirements of all insurance policies required to be maintained by Tenant hereunder, and (c) no material structural
alteration costing $500,000 or more, no additional structural improvements costing $500,000 or more, and no structural demolitions
which materially reduce the square footage of the Improvements shall be conducted in connection therewith unless Tenant shall
have obtained Landlord’s consent (including Landlord’s approval of the plans and specifications therefor), which shall
not be unreasonably withheld, conditioned, or delayed. By way of clarification, the term “Alterations” shall
not include any trade fixtures (including, without limitation, portable lifts that are not attached to the Land or improvements
located thereon), inventory, furniture, equipment, or other personal property of Tenant (collectively, “Tenant’s
Property”) installed or otherwise located in or on the Premises.

 

9.2
Removal of Alterations. Unless funded by Landlord, all Alterations to the Premises during the Lease Term shall be considered
property of Tenant for the term of the Lease only, but said Alterations will automatically, without consideration by Landlord,
become the property of Landlord, and will remain upon, and be surrendered with, the Premises upon the expiration or earlier termination
of the Lease Term. At the expiration or earlier termination of the Lease Term, Tenant shall have no obligation to remove or restore
any Alterations or other improvements on or at the Premises, whether such Alterations or other improvements were made prior to
the Commencement Date or during the Lease Term.

 

9.3
Covenant Against Liens. Tenant will not permit any construction lien to be placed against the Premises or any portion thereof
as a result of any Alterations or other work performed by or at the direction of Tenant. If any such lien attaches to the Premises
or any portion thereof, Tenant shall, within 30 days after such attachment, either (a) pay or bond off such lien, or (b) contest
such lien in compliance with applicable Laws and provide Landlord with security reasonably satisfactory to Landlord for the payment
and release of such lien. If Tenant fails to remove or contest a lien in accordance with this Section 9.3, Landlord may, but will
not be obligated to, pay the amount necessary to remove the lien without being responsible for making an investigation as to the
validity or accuracy of such lien, and the amount so paid by Landlord, together with all costs and expenses (including, without
limitation, reasonable attorneys’ fees) incurred by Landlord in connection therewith, shall be paid by Tenant to Landlord
as Additional Rent. Tenant has no authority or power to cause or permit any lien or encumbrance of any kind whatsoever, whether
created by act of Tenant, operation of law or otherwise, to attach to or be placed upon Landlord’s title or interest in
the Premises or any portion thereof, and any and all liens and encumbrances created by Tenant shall attach to Tenant’s interest
only. At Landlord’s request, Tenant shall execute a notice in recordable form restating this prohibition against liens upon
Landlord’s title or interest in the Premises.

 

    	 	12	 

     

    

 

9.4
Removal of Fixtures. Except as otherwise expressly permitted in this Article IX, or as approved in advance by Landlord,
during the Lease Term Tenant shall not remove from the Premises any fixtures unless replaced with similar fixtures of equal or
greater quality and value; provided, however, nothing in this sentence shall require Tenant to replace any fixtures
that Tenant is entitled to remove or demolish without Landlord’s consent pursuant to Section 9.1 above.

 

ARTICLE
X

REPRESENTATIONS,
WARRANTIES AND COVENANTS OF TENANT

 

10.1
Representations and Warranties. Tenant hereby represents and warrants the following to Landlord, as of the Effective Date:

 

10.1.1
Material Adverse Change in Condition. All financial statements and other information for Tenant previously delivered to
Landlord are true and correct in all material respects. There has been no Material Adverse Change (as defined below), nor is there
any fact, event or circumstance that could reasonably be expected to result in a Material Adverse Change since the date of the
most recent financial statements delivered to Landlord. “Material Adverse Change” means any event, circumstance,
fact, condition, development, or occurrence that has had or could be expected to have a material and adverse effect on the ability
of Tenant to pay and perform its obligations under the Lease; but specifically excluding any event, circumstance, fact, condition,
development, or occurrence arising out of or attributable to: (a) general economic or political conditions; (b) conditions generally
affecting the industries in which Tenant operates; (c) any changes in financial, banking, or securities markets in general, including
any disruption thereof and any decline in the price of any security or any market index or any change in prevailing interest rates;
(d) acts of war (whether or not declared), armed hostilities or terrorism, or the escalation or worsening thereof; (e) any action
required or permitted by this Lease or any action taken (or omitted to be taken) with the written consent of or at the written
request of Landlord; (f) any changes in applicable Laws or accounting rules (including GAAP) or the enforcement, implementation,
or interpretation thereof; (g) the announcement, pendency, or completion of the transactions contemplated by the Purchase Agreement
and this Lease; (h) any natural or man-made disaster or acts of God; (i) any failure by Tenant to meet any internal or published
projections, forecasts, or revenue or earnings predictions [provided that the underlying causes of such failures (subject to the
other provisions of this definition) shall not be excluded]; or (j) any loan financing/refinancing transactions or the acquisition
of other businesses by Tenant, which are currently being pursued or contemplated by Tenant, and which have been disclosed to Landlord
during the Study Period, as defined in the Purchase Agreement.

 

    	 	13	 

     

    

 

10.1.2
Disclosure. This Section 10.1 and Section 22.2 do not contain any untrue statement of a material fact or omit to state
a material fact necessary in order to make any statement contained herein not misleading in light of the circumstances in which
it was made.

 

10.1.3
Compliance with Anti-Terrorism, Embargo, Sanctions and Anti-Money Laundering Laws. Neither Tenant nor any of its Affiliates,
including any of its principal officers, are listed on the “Specially Designated and Blocked Person’s List”
(“SDN List”). Tenant and its Affiliates are not acting, and will not act, directly or indirectly, for or on
behalf of any person, group, entity, or nation named by any Executive Order of the United States Treasury Department as a terrorist,
or other banned or blocked person, entity, nation, or transaction pursuant to any federal or state law, order, rule, or regulation,
including but not limited to the SDN List. Tenant and its Affiliates are not engaged, and will not engage, in this transaction,
directly or indirectly, on behalf of, or instigating or facilitating, and will not instigate or facilitate this transaction, directly
or indirectly, on behalf of, any such person, group, entity, or nation. Tenant covenants and agrees to deliver to Landlord any
certification or other evidence reasonably requested from time to time by Landlord, confirming Tenant’s compliance with
the provisions of this paragraph.

 

10.1.4
Inapplicability of the Florida Mobile Home Act. The Property, and the use of, and the operations and activities on the
Property, are not subject to the Florida Mobile Home Act (Chapter 723 of the Florida Statutes).

 

10.2
Covenants. Tenant hereby covenants to Landlord that, throughout the Lease Term, Tenant shall comply with the following:

 

10.2.1
Notice of Material Adverse Change. Within 10 days after Tenant has knowledge of a Material Adverse Change during the Lease
Term, Tenant shall give written notice thereof to Landlord. At Landlord’s request, Tenant shall provide Landlord with copies
of any material documents pertaining to such Material Adverse Change.

 

10.2.2
Notice of Litigation. Within 10 days after Tenant has knowledge of any litigation, threatened condemnation, or other proceeding
related to or arising out of this Lease or the Premises in which claims are asserted in an amount in excess of $200,000.00, Tenant
shall give written notice thereof to Landlord. At Landlord’s request, Tenant shall provide Landlord with copies of any material
documents pertaining to such proceeding. If and to the extent Landlord reasonably determines that such proceeding may adversely
affect the Premises or this Lease, and Landlord is not named as a defendant party (in which case Section 13.2 would require Tenant
to indemnify Landlord), Landlord may, after written notice to Tenant, undertake an investigation or otherwise become involved
in the proceeding and Landlord shall pay all of Landlord’s reasonable costs and expenses related thereto.

 

10.2.3
Assessment of Property Condition. Without Landlord’s prior written consent, during the Lease Term Tenant shall not
conduct any environmental site assessments or remediation activities on the Premises (except in an emergency situation where,
in Tenant’s reasonable discretion, remediation is necessary for Tenant’s compliance with Section 6.3 or in the event
of an immediate threat to health, safety, or welfare). Tenant shall provide to Landlord within 10 Business Days after receipt
thereof, copies of all Due Diligence (defined below) performed on the Premises after the Commencement Date. “Due Diligence”
means environmental site assessments, environmental remediation reports, and correspondence to or from any environmental regulatory
agencies or any other governmental agency relating to zoning and planning.

 

    	 	14	 

     

    

 

10.2.4
Notice of Violations of Laws. Tenant shall give prompt written notice to Lender of the receipt by Tenant of (a) any written
notice from any governmental entity alleging a material violation of any Laws applicable to the Premises, and (b) the commencement
of any governmental agency proceedings or investigations that relates to compliance with any Laws applicable to the Premises.

 

10.2.5
Financial Statements. Tenant shall provide Landlord and any Lender, at the times set forth herein (or more often as may
be reasonably requested by Landlord), the following information during the Lease Term: (A) within 15 days after the end of each
fiscal quarter (including year-end): Tenant and Guarantor prepared fiscal year-to-date financial statements of Tenant and of each
Guarantor, prepared in accordance with generally accepted accounting principles (“GAAP”) consistently applied
(the “Internal Statements”); (B) within 90 days after the end of each fiscal year of Tenant and each Guarantor:
annual financial statements prepared in accordance with GAAP consistently applied and audited by an independent certified public
accountant (which firm shall be acceptable to Landlord; provided however, that Landlord hereby approves Crowe Horwath LLP), as
may be presented on an individual or consolidated basis (the “Annual Statements”); (C) within 15 days of the
filing thereof with the Internal Revenue Service, annual federal tax returns of Tenant; and (D) such additional financial information
as Landlord shall reasonably request (including any financial information required by any governmental agency, including the Securities
and Exchange Commission). Notwithstanding anything in this Section 10.2.5 to the contrary, so long as Guarantor’s financial
statements are provided on a consolidated basis with Tenant, Tenant shall not be obligated to provide separate financial statements
for Guarantor.

 

10.2.6
Florida Mobile Home Act. Tenant shall not undertake or allow any use, operation or activity on or in connection with the
Property which would make all or any portion of the Property subject to the Florida Mobile Home Act (Chapter 723 of the Florida
Statutes).

 

ARTICLE
XI 

INSPECTION

 

11.1
Inspection. During Tenant’s normal business hours, and upon not less than 24 hours’ prior notice (except in
the case of an emergency situation involving actual or imminent (a) material damage to the Premises, or (b) death or significant
bodily injury), Tenant shall permit Landlord and its agents and representatives, to enter the Premises, without charge therefor
and without diminution of the rent payable by Tenant, in order to examine, inspect, or protect the Premises, or to exhibit the
same to prospective purchasers and Lenders (and, during the last 12 months of the Lease Term, to prospective tenants); provided,
Landlord and its agents and representatives shall not interfere with or disrupt Tenant’s normal business operations in the
Premises in connection with any such entry.

 

ARTICLE
XII 

INSURANCE

 

12.1
Types and Amounts of Insurance Coverage. Throughout the Lease Term, Tenant shall obtain and maintain the following types
and amounts of insurance:

 

(a)
Insurance (on an occurrence basis) against all risks of direct physical loss (“Causes of Loss -Special Form”),
including loss by fire, lightning, flooding (if the Premises are in a flood zone), earthquakes (if the Premises are in an earthquake
zone), and other risks which at the time are included under “extended coverage” endorsements, on ISO form CP1030,
or its equivalent, in amounts sufficient to prevent Landlord and Tenant from becoming a coinsurer of any loss, but in any event
in amounts not less than 100% of the actual replacement cost of the Improvements, exclusive of foundations and excavations, without
any exclusions other than standard printed exclusions and without exclusion for terrorism and with commercially reasonable deductibles;

 

    	 	15	 

     

    

 

(b)
Commercial general liability insurance and/or umbrella liability insurance (on an occurrence basis), on ISO form CG 0001 1207,
or its equivalent, against claims for bodily injury, death, or property damage occurring on, in, or at the Premises in the minimum
amounts of $10,000,000 for any one accident and $5,000,000 for property damage to others or in such greater amounts as are then
customary and commercially reasonable for property similar in use to the Premises, with defense to be provided as an additional
benefit and not within the limits of liability and with commercially reasonable deductibles;

 

(c)
Rent loss insurance or business interruption insurance in an amount sufficient to cover loss of rents from the Premises pursuant
to this Lease for a period of at least 12 months, with endorsements to cover interruption of utilities outside of the Premises;

 

(d)
Worker’s compensation insurance to the extent required by the law of the state in which the Premises are located;

 

(e)
Boiler and machinery insurance in respect of any boilers and similar apparatus located on the Premises in the minimum amount of
$500,000 or in such greater amounts as to adequately insure the Premises;

 

(f)
During any period of construction on the Premises, builder’s risk insurance on a completed value, non-reporting basis for
the total cost of such alterations or improvements, and workers’ compensation insurance as required by applicable law. This
coverage may be provided by Tenant’s property insurance pursuant to this Section 12.1; and

 

(g)
After the first 10 Lease Years of the Lease Term, and after every 10th Lease Year thereafter, Landlord may require
Tenant to carry other insurance in such kinds and amounts, and with such deductibles and against such risks, as is commonly required
for tenants of properties similar in use to the Premises and located in the market area in which the Premises are located.

 

12.2
Requirements of Insurance Coverage. All the insurance policies specified above shall meet the following requirements: (a)
be issued by a company that is licensed to do business in the jurisdiction in which the Premises are located and that has a rating
equal to or exceeding A-:VII from Best’s Insurance Guide; (b) name, Landlord and its Lenders as additional insureds or loss
payees (as applicable); (c) be primary over any other valid and collectible insurance and non-contributory; and (d) in the event
the policy is cancelled prior to expiration thereof, notice will be delivered to Landlord in accordance with the policy terms.

 

12.3
Other Provisions. Tenant shall deliver to Landlord, concurrently with Tenant’s execution of this Lease and thereafter
within 30 days after written request of Landlord (no more frequently than twice in any 12 month period), certificates evidencing
that all such insurance coverages required pursuant to this Article XII are in full force and effect. Neither the issuance of
any insurance policy required under this Lease nor the minimum limits specified herein shall be deemed to limit or restrict in
any way Tenant’s liability arising under or out of this Lease. Landlord makes no representation that the limits or forms
of coverage of insurance specified in this Article XII are adequate to cover Tenant’s property or obligations under this
Lease. Tenant shall have the right to maintain the insurance coverages set forth in this Article XII under a blanket insurance
policy covering other premises owned or operated by Tenant, provided that such coverage for the Premises shall satisfy the requirements
of this Article XII and shall not be diminished for any reason whatsoever (including without limitation a claim made with respect
to any other premises) during the Lease Term.

 

    	 	16	 

     

    

 

12.4
Waiver of Subrogation. Notwithstanding any other provision of this Lease, neither Landlord nor Tenant shall be liable to
the other or its insurance carriers (by way of subrogation or otherwise) for any loss of, or damage to, any of its property located
within, upon, or constituting a part of the Premises, to the extent such loss or damage arises from the perils that could be insured
against under the standard ISO Causes of Loss-Special Form Coverage policy, including deductibles (whether or not the party suffering
the loss or damage actually carries such insurance, recovers under such insurance, or self-insures the loss or damage). This waiver
applies whether or not the loss or damage is due to the negligent acts or omissions of any Landlord Parties or Tenant Parties.
Each party shall provide its insurance company(ies) written notice of the terms of the mutual waivers in this paragraph and shall
use commercially reasonable efforts to have its insurance policies properly endorsed, if necessary, to provide for such waiver
of subrogation and to prevent the invalidation of any coverage by reason of said waivers.

 

ARTICLE
XIII 

LIABILITY
AND INDEMNIFICATION 

 

13.1
No Liability of Landlord. Landlord, its Affiliates, partners, officers, directors, members, trustees, employees, agents
and Lenders (collectively, “Landlord Parties”) shall have no liability for and shall not assume any liability
or responsibility with respect to the conduct or operation of the business conducted on the Premises and shall have no liability
for any claim of loss of business or interruption of operations, or any consequential damages or indirect losses whatsoever. Any
motor vehicles, parts, goods, furnishings, fixtures, property or personal effects placed or stored in or about the Premises shall
be at the sole risk of Tenant, and Landlord, its Affiliates, employees and agents shall not be responsible or liable for such
property.

 

13.2
Indemnification of Landlord by Tenant. Tenant shall indemnify, defend upon request and hold Landlord and Landlord Parties
harmless from and against all demands, causes of action, judgments, costs, damages (including punitive and consequential damages),
claims, liabilities, expenses (including attorneys’ fees, disbursements and actual costs), losses, penalties and court costs
brought or claimed against any of them by any third party (whether arising from events prior or subsequent to the Effective Date),
directly or indirectly, based on or arising out of, in whole or in part: (a) the use, condition, operation, maintenance, repair,
alteration, and occupancy of the Premises or the business conducted therein or therefrom, (b) any act, omission, negligence or
willful misconduct of Tenant, its partners, officers, directors, members, trustees, employees, agents or Affiliates (each a “Tenant
Party”; collectively, the “Tenant Parties”), (c) contamination of the Premises or the ground waters
thereof, any discharge of toxic or hazardous sewage or waste materials from the Premises into any septic facility or sewer system,
any Environmental Law or release or existence of Hazardous Materials on the Premises (irrespective of whether there has occurred
a violation thereof), including without limitation, any loss of value to the Premises in connection therewith, (d) any breach,
violation or nonperformance by Tenant or any person claiming under Tenant or any other Tenant Parties of any of the terms, provisions,
representations, warranties, covenants or conditions of this Lease on Tenant’s part to be performed, including without limitation,
the failure to comply with Laws, or any obligations required to be performed under any covenants, conditions, easements and agreements
affecting the Premises, (e) easements or other agreements entered into by Landlord at the request of Tenant following the Effective
Date, and (f) any accident, injury, death or damage to the person, property or business of Tenant or Tenant’s invitees,
or any other person that shall happen at, in, upon, or arising out of the Premises, however occurring; provided that Tenant shall
not be liable to the extent that any Claims result from the gross negligence, recklessness or willful misconduct of Landlord or
any other Landlord Parties. Landlord need not have first paid any such claim to be so indemnified and held harmless by Tenant.
Tenant, upon written notice from Landlord, shall defend any claim against Landlord at Tenant’s sole expense, using legal
counsel reasonably satisfactory to Landlord and approved by the appropriate insurance carrier, and Landlord shall cooperate with
Tenant in such defense. Tenant’s indemnity obligations under this Section 13.2 and elsewhere in this Lease accruing prior
to the termination of this Lease shall survive such termination.

 

    	 	17	 

     

    

 

13.3
No Liability Accruing Subsequent to Transfer. No landlord hereunder shall be liable for any obligation or liability based
on or arising out of any event or condition occurring during the period that such landlord was not the owner of the Premises.
Within five Business Days after request, Tenant shall attorn to any new landlord and execute, acknowledge and deliver any commercially
reasonable document submitted to Tenant confirming such attornment.

 

13.4
Tenant’s Remedies. Tenant shall not have the right to set off, recoup, abate or deduct any amount allegedly owed
to Tenant pursuant to any claim against Landlord from any Base Rent or other sum payable to Landlord. Tenant’s sole remedy
for recovering upon such claim shall be to institute an independent action against Landlord, which action shall not be consolidated
with any action of Landlord.

 

13.5
Landlord’s Liability Limited to Landlord’s Interest. If Tenant or any Tenant Party is awarded a money judgment
against Landlord, then recourse for satisfaction of such judgment shall be limited to execution against Landlord’s estate
and interest in the Premises. No other asset of Landlord, any partner, director, member, officer or trustee of Landlord or any
other person or entity shall be available to satisfy or be subject to such judgment, nor shall any such individual or other person
or entity be held to have personal liability for satisfaction of any claim or judgment against Landlord or any such individual.

 

ARTICLE
XIV 

DAMAGE
OR DESTRUCTION 

 

14.1
Casualty Damage. If the buildings or other improvements located on the Premises (the “Improvements”)
are totally or partially damaged or destroyed, whether due to casualty, Partial Taking (as defined in Article XV below), or otherwise,
then promptly after such damage or destruction, Tenant shall, to the extent permitted by Laws, repair, rebuild, or restore the
damaged Improvements (the “Restoration”) so as to make the Premises at least equal in value to the Premises
existing immediately prior to such damage or destruction. All such repair, rebuilding, or restoration shall be at Tenant’s
expense; provided, however, Tenant shall be entitled to receive and use all net proceeds from any fire or other
casualty insurance policies or from any award from a Partial Taking (after deduction of any reasonable costs incurred in connection
with the collection thereof, including reasonable attorneys’ fees) for purposes of performing the Restoration. Tenant shall
deliver the plans and specifications to Landlord for Landlord’s approval (not to be unreasonably withheld, conditioned,
or delayed), as well as a schedule setting forth the estimated monthly draws for such work. If Landlord does not object to such
plans and specifications within 10 Business Days after Tenant’s delivery thereof, Landlord will be deemed to have approved
such plans and specifications. Following Landlord’s approval (or deemed approval) of such plans and specifications, Tenant
will begin such Restoration and will prosecute the same to completion with diligence, in accordance with the terms and conditions
of Article IX of this Lease. Landlord and its architects and engineers shall have the right, at Tenant’s expense, to inspect
the Premises from time to time during any such Restoration; provided, however, Landlord shall not have any liability
for any defects in the design or construction of the Restoration, or the compliance of any plans and specifications with Laws.
In no event shall any damage or destruction allow Tenant to abate the payment of Base Rent or Additional Rent or terminate this
Lease, except as expressly provided in this Article XIV.

 

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14.2
End of Term Casualty. If, during the final 18 months of the Lease Term, the Improvements shall be destroyed or damaged
by fire or other casualty to the extent that the cost of the Restoration would exceed 50% of the then full insurable value of
the Improvements, Tenant shall have the option of either (a) repairing, rebuilding, or restoring the Improvements as stated above,
or (b) terminating this Lease by giving written notice of the election to Landlord within 90 calendar days after the destruction
or damage, which notice shall specify a date, not less than 10 calendar days from the date of delivery of the notice to Landlord,
on which Tenant elects to terminate this Lease. If the Lease is terminated, Tenant shall not be required to repair, rebuild, or
restore the damaged Improvements, or to pay the cost of repairing, rebuilding, or restoring the damaged Improvements, and all
proceeds of insurance paid by reason of the destruction of the Improvements shall be retained by Landlord; provided, Tenant shall
be entitled, in this case, to the proceeds of insurance paid by reason of the destruction of Tenant’s trade fixtures and
personal property.

 

ARTICLE
XV 

CONDEMNATION

 

15.1
Total Taking. If the entire Premises or occupancy thereof shall be permanently taken or condemned by any governmental or
quasi-governmental authority for any public or quasi-public use or purpose, or sold under threat of such a taking or condemnation
(a “Total Taking”), then this Lease shall terminate on the date that title to the Premises vests in such authority,
and Base Rent shall be apportioned as of such date. A condemnation shall be deemed to be permanent if lasting for a period in
excess of 18 consecutive calendar months.

 

15.2
Partial Taking.

 

(a)
If less than the entire Premises or occupancy thereof is permanently taken or condemned by any governmental or quasi-governmental
authority for any public or quasi-public use or purpose, or sold under threat of such a taking or condemnation (a “Partial
Taking”), but such Partial Taking, even after restoration, would result in the Premises being impractical or unsuitable
for Tenant’s continued business operations, then Tenant shall have the right to terminate this Lease upon written notice
to Landlord within 10 Business Days after Tenant receives notice of such taking (together with a Total Taking, a “Termination
Taking”), in which case this Lease shall terminate on the date that title to the Premises vests in such authority, and
Base Rent shall be apportioned as of such date.

 

(b)
In the event of a Partial Taking that is not a Termination Taking, (i) this Lease shall remain in full force and effect, and (ii)
Tenant shall comply with its restoration obligations in Article XIV of this Lease.

 

15.3
Temporary Taking. If all or any portion of the Premises is condemned or taken for a period of 18 consecutive calendar months
or less, the Lease shall remain in full force and effect and there shall be no abatement of Base Rent or Additional Rent notwithstanding
such condemnation. The amount of any award, damages, and other compensation paid on account of a temporary taking (the “Temporary
Awards”), net of Landlord’s reasonable expenses in obtaining the same, for such temporary taking allocable to
the Lease Term, shall be paid to Tenant.

 

    	 	19	 

     

    

 

15.4
Awards for Total Taking or Partial Taking. In the event of a Total Taking or Partial Taking, other than the Temporary Awards,
all awards, damages and other compensation paid on account of such Total Taking or Partial Taking (the “Awards”)
shall belong to Landlord, and Tenant assigns to Landlord all rights to such Awards. Tenant shall not make any claim against Landlord
or such authority for any portion of such Awards attributable to the loss of Tenant’s leasehold interest or any leasehold
improvements, or the value of the unexpired portion of the Lease Term. Nothing contained herein, however, shall prevent Tenant
from pursuing a separate claim against the authority for relocation expenses, the value of furnishings, equipment and trade fixtures
installed in the Premises at Tenant’s expense, or other business damages to which Tenant may be entitled, provided that
such claim shall in no way diminish the Awards payable to or recoverable by Landlord in connection with such taking.

 

15.5
Partial Taking Base Rent Abatement. In the event of a Partial Taking in excess of 5% of (a) the buildings or portion of
the land area of the Premises that is paved or (b) the fair market value of the Premises, this Lease shall remain unaffected by
such taking except that, following Landlord’s receipt of the Awards and Tenant’s completion of the restoration in
accordance with Article XIV hereof, the then current Base Rent shall be reduced by an amount equal to the amount of the net Awards
retained by Landlord divided by 12.50. Until the new Base Rent shall be determined and agreed upon in writing, Tenant shall continue
to pay Base Rent in accordance with the original terms of this Lease and upon such determination an appropriate adjustment shall
be made and Tenant shall receive credit for any overpayment.

 

ARTICLE
XVI 

DEFAULT

 

16.1
Events of Default. Each of the following shall constitute an “Event of Default”: (a) Tenant’s failure
to make when due any payment of the Base Rent, Additional Rent or other sum, which failure continues for 10 Business Days after
written notice from Landlord to Tenant; (b) Tenant’s failure to perform or observe any non-monetary covenant or condition
of this Lease not otherwise specifically described in this Section 16.1, which failure continues for 30 days after written notice
from Landlord to Tenant, or such longer period as may be reasonably required to cure such failure not to exceed 90 days after
written notice of such failure from Landlord, so long as Tenant commences such cure within the initial 30 calendar day period
and diligently prosecutes such cure to completion within 90 days; provided however, if within such 90 day period Tenant is unable
to completely cure the default, Tenant may continue its efforts to cure the condition up to one year, so long as (I) within the
initial 90 day cure period Tenant provides Landlord with documentation that reasonably establishes that the cure cannot effectively
be completed within the 90 day period, and (II) thereafter, within five (5) Business Days from receipt of a written request of
Landlord made no more than once every thirty (30) days, Tenant shall provide Landlord with progress reports, updates on the cure
effort and an updated schedule for completing the cure that reasonably establishes that Tenant is diligently prosecuting the cure
to completion as soon as reasonably possible but in any event within the aforesaid one year time period; (c) Tenant’s (i)
making a general assignment for the benefit of creditors, (ii) commencing any case, proceeding, or other action seeking to have
an order for relief entered on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization,
arrangement, adjustment, liquidation, dissolution, or composition of it or its debts, or seeking appointment of a receiver, trustee,
or custodian for it or for all or any substantial part of its property (collectively, a “proceeding for relief”),
(iii) becoming the subject of any proceeding for relief that is not dismissed within 60 days of its filing or entry, (iv) being
dissolved or otherwise failing to maintain its legal existence, (v) property being the subject of a filing of a petition for the
appointment of a receiver or custodian, or (vi) property is subjected to the appointment of a receiver or custodian, (d) any Environmental
Default as specified in Section 6.3(b); provided, however, it will not be considered an Event of Default if the Environmental
Default does not pose an immediate threat to public health safety or welfare in Landlord’s sole but reasonable determination,
and if: (i) Tenant cures such Environmental Default within 90 days of written notice from Landlord, or (ii) if such cure cannot
be reasonably completed within such 90 day period, (1) within such 90 day period, Tenant provides Landlord with a defined course
of action approved by a qualified environmental consultant approved by Landlord in accordance with any applicable state or federal
requirements and satisfactory to Landlord in Landlord’s reasonable determination (“Environmental Remediation Plan”),
(2) within such 90 day period, Tenant delivers to Landlord the Environmental Security described in Section 6.3(b), and (3) Tenant
diligently and actively pursues and completes the cure specified in the Environmental Remediation Plan no later than 24 months
from the date of the Environmental Default; (e) any failure to maintain the insurance required pursuant to Article XII above;
(f) any express representation or warranty made by Tenant in this Lease is incorrect in any material respect when made, (g) Tenant’s
abandonment of or failure to occupy continuously the Premises in violation of Section 6.2(b); (h) Tenant’s failure to provide
the Internal Financial Statements or the Audited Financial Statements as specified in Section 10.2.5 which failure continues for
15 days after written notice from Landlord to Tenant; or (i) any default by any Guarantor under the Guaranty.

 

    	 	20	 

     

    

 

16.2
Landlord’s Remedies. Following an Event of Default, the provisions of this Section 16.2 shall apply. Landlord shall
have the right, at its sole option, to terminate this Lease. In addition, with or without terminating this Lease, Landlord may
terminate Tenant’s right of possession, and re-enter and take possession of, the Premises. If necessary, Landlord may proceed
to recover possession of the Premises under applicable Laws, or by such other proceedings, including re-entry and possession,
as may be applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant’s right of possession,
everything contained in this Lease on the part of Landlord to be done and performed shall cease without prejudice, however, to
Tenant’s liability for all Base Rent, Additional Rent and other sums specified herein. Whether or not this Lease or Tenant’s
right of possession is terminated or any suit is instituted, Tenant shall be liable for any Base Rent, Additional Rent, damages,
or other sums that may accrue or be due prior to such default, and for all reasonable costs, fees, and expenses (including, without
limitation, reasonable attorneys’ fees and costs, brokerage fees, and expenses incurred in enforcing any of Tenant’s
obligations under the Lease or in placing the Premises in the same or better condition as exists on the Effective Date and free
of debris, subject to normal wear and tear and in rentable condition, advertising expenses, and any concessions or allowances
granted by Landlord) incurred by Landlord in pursuit of its remedies hereunder and/or in recovering possession of the Premises
and renting the Premises to others from time to time plus other actual damages suffered or incurred by Landlord on account of
Tenant’s default (including, but not limited to, late fees or other charges incurred by Landlord under any Mortgage). Tenant
also shall be liable for additional damages which at Landlord’s election shall be either one or a combination of the following
to the extent permitted under applicable law: (a) an amount equal to the Base Rent and Additional Rent due or which would have
become due from the date of Tenant’s default through the remainder of the Lease Term, less the amount of rental, if any,
that Landlord receives during such period from others to whom the Premises may be rented (other than any Additional Rent received
by Landlord as a result of any failure of such other person to perform any of its obligations to Landlord), which amount shall
be computed and payable in monthly installments, in advance, on the first day of each calendar month following Tenant’s
default and continuing until the date on which the Lease Term would have expired but for Tenant’s default, it being understood
that separate suits may be brought from time to time to collect any such damages for any month(s) (and any such separate suit
shall not in any manner prejudice the right of Landlord to collect any damages for any subsequent month(s)), or Landlord may defer
initiating any such suit until after the expiration of the Lease Term (in which event such deferral shall not be construed as
a waiver of Landlord’s rights as set forth herein and Landlord’s cause of action shall be deemed not to have accrued
until the expiration of the Lease Term), and if Landlord elects to bring suits from time to time prior to reletting the Premises,
Landlord shall be entitled to its full damages through the date of the award of damages without regard to any Base Rent, Additional
Rent, or other sums that are or may be projected to be received by Landlord upon reletting of the Premises; or (b) an amount equal
to the present value of the sum of (i) the amount, if any, by which (A) all Base Rent, Additional Rent, and other sums due or
which would be due and payable under this Lease as of the date of Tenant’s default through the end of the scheduled Lease
Term; exceeds (B) the fair market rental value of the Premises over the same period, plus (ii) all expenses (including broker
and attorneys’ fees) and value of all vacancy periods projected by Landlord to be incurred in connection with the reletting
of the Premises. The present value shall be calculated using a discount factor equal to the yield of the United States Treasury
Note or Bill, as appropriate, having a maturity period approximately commensurate to the remainder of the Lease Term, and such
resulting amount shall be payable to Landlord in a lump sum on demand, it being understood that upon payment of such liquidated
and agreed final damages, Tenant shall be released from further liability for payment of Base Rent under this Lease with respect
to the period after the date of such payment. Landlord may bring suit to collect any such damages at any time after an Event of
Default shall have occurred. In the event Landlord relets the Premises for a term extending beyond the scheduled expiration of
the Lease Term, it is understood that Tenant will not be entitled to apply any base rent, additional rent or other sums generated
or projected to be generated in the period extending beyond the scheduled expiration of the Lease Term (collectively, the “Extra
Rent”) against Landlord’s damages. Similarly in proving the amount that would be received by Landlord upon a reletting
of the Premises as set forth in clause (b)(ii) above, Tenant shall not take into account the Extra Rent. The provisions contained
in this Section shall be in addition to, and shall not prevent the enforcement of, any claim Landlord may have against Tenant
for anticipatory breach of this Lease. Nothing herein shall be construed to affect or prejudice Landlord’s right to prove,
and claim in full, unpaid Base Rent and Additional Rent accrued prior to termination of this Lease. If Landlord is entitled, or
Tenant is required, pursuant to any provision hereof to take any action upon the termination of the Lease Term, then Landlord
shall be entitled, and Tenant shall be required, to take such action also upon the termination of Tenant’s right of possession.
Notwithstanding anything to the contrary contained in this Section 16.2, Landlord agrees to use reasonable efforts to mitigate
Tenant’s damages to the extent required by law; provided, however, that Tenant agrees that Landlord’s
reasonable efforts either to (I) relet the Premises, or (II) to market for sale the Premises on terms acceptable to Landlord subject
to this Lease shall be deemed to constitute reasonable efforts on the part of Landlord to mitigate Tenant’s damages.

 

    	 	21	 

     

    

 

16.3
Tenant Waiver. In the event Tenant’s right to possession of the Premises is terminated pursuant to Section 16.2 above
as a result of an Event of Default, Tenant hereby expressly waives, for itself and all persons claiming by, through or under Tenant,
any right of redemption, re-entry, or restoration of the operation of this Lease under any present or future Law, including without
limitation any such right that Tenant would otherwise have in case Tenant shall be dispossessed for any cause, or in case Landlord
shall obtain possession of the Premises as herein provided.

 

16.4
Landlord’s Rights Cumulative. All rights and remedies of Landlord set forth in this Lease are cumulative and in addition
to all other rights and remedies available to Landlord at law or in equity, including those available as a result of any anticipatory
breach of this Lease. The exercise by Landlord of any such right or remedy shall not prevent the concurrent or subsequent exercise
of any other right or remedy. No delay or failure by Landlord to exercise or enforce any of Landlord’s rights or remedies
or Tenant’s obligations shall constitute a waiver of any such rights, remedies or obligations. Landlord shall not be deemed
to have waived any default by Tenant unless such waiver expressly is set forth in a written instrument signed by Landlord. If
Landlord waives in writing any default by Tenant, such waiver shall not be construed as a waiver of any covenant, condition, or
agreement set forth in this Lease except as to the specific circumstances described in such written waiver.

 

16.5
Accord and Satisfaction. If Landlord shall institute proceedings against Tenant and a compromise or settlement thereof
shall be made, then the same shall not constitute a waiver of the same or of any other covenant, condition or agreement set forth
herein, nor of any of Landlord’s rights hereunder. Neither the payment by Tenant of a lesser amount than the monthly installment
of Base Rent, Additional Rent or of any sums due hereunder nor any endorsement or statement on any check or letter accompanying
a check for payment of rent or other sums payable hereunder shall be deemed an accord and satisfaction. Landlord may accept the
same without prejudice to Landlord’s right to recover the balance of such rent or other sums or to pursue any other remedy.
Notwithstanding any request or designation by Tenant, Landlord may apply any payment received from Tenant to any payment then
due. No re-entry by Landlord, and no acceptance by Landlord of keys from Tenant, shall be considered an acceptance of a surrender
of this Lease.

 

16.6
Default Rate. If Tenant fails to make any payment to any third party or to do any act herein required to be made or done
by Tenant, then Landlord may, but shall not be required to, make such payment or do such act. The taking of such action by Landlord
shall not be considered a cure of such default by Tenant or prevent Landlord from pursuing any remedy it is otherwise entitled
to in connection with such default. If Landlord elects to make such payment or do such act, then all expenses incurred by Landlord,
plus interest thereon at a rate (the “Default Rate”) equal to the lesser of (a) the greater of (i) 12% per
annum or (ii) the rate per annum that is five whole percentage points higher than the prime rate published in the Money Rates
section of the Wall Street Journal, or (b) the highest lawful rate per annum, from the date incurred by Landlord to the
date of payment thereof by Tenant, shall constitute Additional Rent due hereunder.

 

ARTICLE
XVII 

SUBORDINATION
AND ATTORNMENT 

 

17.1
Subordination and Attornment.

 

(a)
Subject to and expressly conditioned on the applicable Lender’s execution and delivery to Tenant of a subordination, non-disturbance,
and attornment agreement in substantially the form attached hereto as Schedule 17.1, or in such other form as may be reasonably
acceptable to Tenant (“SNDA”): (i) this Lease is subject and subordinate to the lien of any mortgage, deed
of trust, ground lease, or other security instrument that may now or hereafter encumber the Premises (each, a “Mortgage”),
and to all funds and indebtedness intended to be secured thereby, as such Mortgage may be renewed, extended, modified, or refinanced,
and (ii) in the event the Premises or Landlord’s interest therein is transferred by foreclosure, or by deed in lieu of foreclosure,
of any Mortgage, Tenant shall attorn to such transferee. Notwithstanding the foregoing, any holder of a Mortgage to which this
Lease is subordinate (a “Lender”) may elect to declare this Lease to be superior to the lien of such Mortgage.
Tenant agrees to execute and return the SNDA within 5 Business Days of presentment of same by Landlord or Lender, and within 5
Business Days of Landlord’s receipt of the executed SNDA from Lender, Landlord shall deliver to Tenant the SNDA executed
by Landlord and Lender. Tenant hereby irrevocably and unconditionally appoints Landlord as Tenant’s true and lawful attorney-in-fact,
to execute the SNDA in Tenant’s name, place, and stead if Tenant fails to do so within the above-referenced 5 Business Day
period, which failure is not cured within 5 Business Days after notice from Landlord to Tenant. This power of attorney is coupled
with an interest and is irrevocable prior to the full performance of Tenant’s obligations hereunder.

 

    	 	22	 

     

    

 

(b)
Tenant waives the provisions of any statute or rule of law now or hereafter in effect which may give or purport to give Tenant
any right to terminate or otherwise adversely affect this Lease and Tenant’s obligations hereunder in the event any foreclosure
proceeding is prosecuted or completed or in the event the Premises or Landlord’s interest therein is transferred by foreclosure,
by deed in lieu of foreclosure or otherwise. Within five (5) days of a written request of such transferee, Tenant shall attorn
to such transferee and shall recognize such transferee as the landlord under this Lease. Tenant agrees that upon any such attornment,
such transferee shall not be (i) bound by any payment of the Base Rent or Additional Rent more than one month in advance, except
prepayments in the nature of security for the performance by Tenant of its obligations under this Lease, but only to the extent
such prepayments have been delivered to such transferee, (ii) bound by any amendment of this Lease made without the written consent
of any Lender existing as of the date of such amendment, other than any amendments memorializing Tenant’s unilateral exercise
of any of its express rights in the Lease (including, without limitation, any renewal options), (iii) liable for damages for any
breach, act or omission of any prior landlord, or (iv) subject to any offsets or defenses which Tenant might have against any
prior landlord; provided, however, that after succeeding to Landlord’s interest under this Lease, such transferee
shall agree to perform in accordance with the terms of this Lease all obligations of Landlord arising after the date of transfer.

 

(c)
Notwithstanding anything to the contrary contained in this Section 17.1, in the event of any conflict between the terms of any
SNDA entered into in accordance with Section
17.1(a) above and the terms of Section 17.1(b) above, the terms of the SNDA shall control.

 

17.2
Lender Required Modifications. If any prospective or current Lender requires that modifications to this Lease be obtained,
and provided that such modifications (a) are reasonable, (b) do not adversely affect in a material manner Tenant’s use of
the Premises as herein permitted or Tenant’s rights under this Lease, and (c) do not increase the Base Rent and other sums
to be paid by Tenant or materially increase Tenant’s obligations under this Lease, then Landlord may submit to Tenant an
amendment to this Lease incorporating such required modifications, and Tenant shall execute, acknowledge and deliver such amendment
(with such commercially reasonable modifications as may be reasonably requested by Tenant) to Landlord within five Business Days
after Tenant’s receipt thereof.

 

17.3
Lender Cure Rights. If (a) the Premises are at any time subject to a Mortgage, (b) this Lease and rent payable hereunder
is assigned to the Lender, and (c) Tenant is given notice of such assignment, including the name and address of the assignee,
then, in that event, Tenant shall not terminate this Lease or make any abatement in the rent payable hereunder for any default
on the part of the Landlord without first giving notice, in the manner provided elsewhere in this Lease for the giving of notices,
to the Lender, specifying the default in reasonable detail, and affording such Lender a reasonable opportunity to make performance,
at its election, for and on behalf of the Landlord, except that (i) such Lender shall have at least 30 days to cure the default;
(ii) if such default cannot be cured with reasonable diligence and continuity within 30 days, such Lender shall have any additional
time as may be reasonably necessary to cure the default with reasonable diligence and continuity; and (iii) if the default cannot
reasonably be cured without such Lender having obtained possession of the Premises, such Lender shall have such additional time
as may be reasonably necessary under the circumstances to obtain possession of the Premises and thereafter to cure the default
with reasonable diligence and continuity. If more than one such Lender makes a written request to Landlord to cure the default,
the Lender making the request whose lien is the most senior shall have such cure right as described herein. Notwithstanding anything
to the contrary contained in this Section 17.4, in the event of any conflict between the terms of an SNDA entered into in accordance
with Section 17.1 above and the terms of this Section 17.4, the terms of the SNDA shall control.

 

    	 	23	 

     

    

 

ARTICLE
XVIII 

END
OF LEASE TERM; HOLDING OVER 

 

18.1
Condition of Premises. At the expiration or earlier termination of this Lease or Tenant’s right of possession, Tenant
shall: (a) surrender possession of the Premises in good repair and free of debris, and in compliance with Tenant’s maintenance
and repair obligations under this Lease, subject to normal wear and tear, (b) ensure that all signs, furnishings, furniture, and
personal property owned by Tenant or a third party have been removed from the Premises, (c) ensure that any damage caused by such
removal has been repaired in a good and workmanlike manner, and (d) deliver to Landlord all keys and security cards to the Premises
and the improvements thereon, whether such keys were furnished by Landlord or otherwise procured by Tenant, and shall inform Landlord
of the combination of each lock, safe, and vault, if any, in the Premises.

 

18.2
Abandoned Property. If Tenant shall fail to remove any items from the Premises as specified above, then Landlord may retain
the same or remove them at Tenant’s expense, and Tenant shall reimburse Landlord’s reasonable expenses therefore upon
demand. All property removed from the Premises by Landlord may be handled, discarded or stored by Landlord at Tenant’s expense,
and Landlord shall in no event be responsible for the value, preservation or safekeeping for such property. All such property
shall at Landlord’s option be conclusively deemed to have been conveyed by Tenant to Landlord as if by bill of sale without
payment by Landlord.

 

18.3
Holdover. If Tenant (or anyone claiming through Tenant) remains in possession of the Premises or any portion thereof after
the expiration or earlier termination of the Lease Term, Tenant shall be deemed to be a tenancy-at-sufferance, without claim of
right, and the Base Rent payable by Tenant hereunder shall be increased to 150% of the Base Rent amount in effect at the time
of expiration or earlier termination. Except as expressly provided in this Section 18.3, in no event shall any holdover be deemed
a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s
consent to any holdover or to give Tenant any right with respect thereto. The increased Base Rent payable by Tenant pursuant to
this paragraph and Landlord’s right to seek recovery of immediate possession of the Premises shall not preclude or limit
Landlord’s right to pursue Tenant to recover consequential or indirect damages that may be incurred by Landlord as a result
of Tenant’s remaining in possession of the Premises beyond the Lease Term. Notwithstanding anything in this Section 18.3
above or elsewhere in this Lease to the contrary, Tenant shall have a one-time right, upon at least 12 months’ prior written
notice to Landlord, to extend the Expiration Date for the fixed period not to exceed three months specified in Tenant’s
written notice to extend (the “Short Term Holdover Period”), on the terms and conditions of the Lease, except
that Base Rent shall be paid at 110% of the monthly Base Rent in effect immediately prior to the Short Term Holdover Period.

 

    	 	24	 

     

    

 

ARTICLE
XIX 

QUIET
ENJOYMENT 

 

19.1
Quiet Enjoyment. Landlord covenants that, so long as no Event of Default exists, then Tenant shall during the Lease Term
peaceably and quietly occupy and enjoy the full possession of the Premises without hindrance by Landlord or any party claiming
through or under Landlord, on and subject to the terms and conditions of this Lease.

 

ARTICLE
XX 

OPTIONS
TO EXTEND LEASE TERM 

 

20.1
Options to Extend Lease Term. So long as no Event of Default exists at the time Tenant delivers the applicable Extension
Notice (as defined below), Landlord hereby grants to Tenant the right, exercisable at Tenant’s option, to renew the term
of this Lease for three successive terms of 10 years each (each, a “Extension Term”; collectively, the “Extension
Terms”). Tenant shall exercise its right of renewal with respect to an Extension Term by giving Landlord written notice
(an “Extension Notice”) at least 12 months prior to the commencement date of the Extension Term; provided,
however, if Tenant fails to timely provide an exercise notice with respect to an Extension Term, Tenant shall not forfeit
or be deemed to have waived its right to exercise such Extension Period unless and until Tenant has received written notice of
Tenant’s failure to exercise the Extension Period during the initial notice period and thereafter failed, within 10 days
after receipt of such notice, to exercise such Extension Period in writing. All terms and conditions of this Lease, including,
without limitation, all provisions governing the payment of Base Rent and Additional Rent, shall remain in full force and effect
during any exercised Extension Term(s). If there exists an Event of Default under this Lease on the date Tenant sends a Renewal
Notice or any time thereafter until the proposed Renewal Term commences, at Landlord’s election, such Renewal Term shall
not commence. If Tenant’s right of renewal with respect to a Renewal Term lapses for any reason (including without limitation,
Tenant’s failure to timely provide a renewal notice), then Tenant’s right of renewal with respect to any subsequent
Renewal Term shall automatically lapse and be of no further force or effect.

 

ARTICLE
XXI 

RIGHT
OF FIRST OFFER 

 

21.1
Right of First Offer. Provided that no Event of Default then exists, before Landlord may sell or transfer the Premises
or any portion thereof (the “Sale Property”) to any third party (including, without limitation, by way of a
sale or transfer of partnership, stock, membership, or other equity interests in the entity that constitutes Landlord, in lieu
of a transfer of the Sale Property itself), Landlord must first offer to sell or transfer the Sale Property to Tenant by giving
written notice (“Landlord’s Offer”) of the terms and conditions on which Landlord is willing to sell
the Sale Property; provided, however, that Tenant shall not have any rights under this Article XXI with respect
to any transfer of the Sale Property by Landlord to (a) an Affiliate of Landlord, or (b) a Lender or a designee of a Lender in
a foreclosure (or to any other third party in a foreclosure sale or auction), by a deed in lieu of foreclosure, or similar transaction
(provided, however, that upon the closing of any such transfer or sale, the assignee of Landlord’s interest
in this Lease or purchaser of the Premises shall be bound by the provisions of this Article XXI as Landlord’s successor).
Notwithstanding the preceding sentence, this Article XXI shall not be construed as a prohibition against or limitation on Landlord’s
right to make a collateral or actual assignment of the rents in connection with any financing or refinancing arrangement it might
enter into with respect to the Premises. Tenant will have 30 days after the date of receipt of Landlord’s Offer (the “Offer
Period”) within which to notify Landlord in writing that Tenant accepts Landlord’s Offer. If Tenant accepts Landlord’s
Offer, then for a period of 15 days thereafter, Landlord and Tenant will exclusively negotiate a proposed purchase and sale agreement
with one another consistent with the terms and conditions contained in Landlord’s Offer and this Article XXI. In the event
that Tenant exercises said right to purchase the Sale Property, Tenant shall be required to close its acquisition of the Property
not later than 60 days following the end of the Offer Period. If Tenant does not accept Landlord’s Offer in writing prior
to expiration of the Offer Period, Landlord may sell or transfer the Sale Property to a third party at a purchase price no less
than 95% of the purchase price contained in Landlord’s Offer and on terms substantially similar to the other terms and conditions
stated in Landlord’s Offer, at any time within 270 days from the date Landlord receives written notice from Tenant rejecting
Landlord’s Offer or the expiration of the Offer Period, as applicable, and upon the closing of such sale, the purchaser
of the Sale Property shall be bound by the provisions of this Article XXI as Landlord’s successor. If Landlord consummates
the sale or transfer within such 270 day period or if, at the end of such 270 day period no sale or transfer has been consummated,
the provisions of this Article XXI will apply to any subsequent proposed sale or transfer of any Sale Property by Landlord. If
during such 270 day period, Landlord makes or receives an acceptable offer to or from a prospective purchaser that includes a
Purchase Price that is less than 95% of the Purchase Price contained in Landlord’s Offer or that modifies any of the other
material terms and conditions stated in Landlord’s Offer, Landlord shall deliver an updated Landlord’s Offer to Tenant
containing such lower purchase price or modified terms and conditions, as applicable, which updated Landlord’s Offer shall
be subject to the same procedures that governed the original Landlord’s Offer, as set forth above in this Article XXI. Tenant’s
right of first offer as set forth in this Article XXI shall automatically terminate and become null and void upon the earlier
to occur of (a) termination of this Lease, or (b) the termination of Tenant’s right to possession of the Sale Property.
Notwithstanding anything set forth herein to the contrary, the right of first opportunity set forth in this Article XXI shall
not apply to (and Tenant shall not have any right to exercise the same in connection with) any sale by Landlord of the Sale Property
in a transaction where the Sale Property is part of a portfolio of properties being sold by Landlord or its affiliates, if the
allocated value of the Sale Property is less than 20% of the aggregate sale price of such portfolio. 

 

    	 	25	 

     

    

 

21.2
Procedure Upon Purchase.

 

(a)
If Tenant shall purchase the Sale Property pursuant to Section 21.1, Landlord shall convey or cause to be conveyed title thereto
on as “as is” “where is” basis by special warranty deed (or its jurisdictional equivalent), free of any
mortgage imposed by Landlord or any predecessor and subject only to this Lease, the lien of any taxes, exceptions subject to which
the Sale Property was conveyed to Lessor, exceptions created or consented to or existing by reason of any action or inaction by
Tenant and all Laws.

 

(b)
Upon the date fixed for any purchase of the Sale Property pursuant to Section 21.1, Tenant shall pay to Landlord the purchase
price therefor specified herein in immediately available funds, together with all Rent and other sums then due and payable hereunder
to Landlord to and including such date of purchase, and there shall be delivered to Tenant a deed or other conveyance of the interests
in the Sale Property then being sold to Tenant and any other instruments reasonably necessary to evidence the conveyance of title
thereto. Tenant acknowledges and understands that any conveyance of the Sale Property by Landlord to Tenant shall be made on an
“As-Is,” “Where-Is” and “With All Faults” basis, and without any representations or warranties,
express, implied or statutory as to the Sale Property’s habitability, suitability, marketability, value, fitness for any
particular use or purpose, the absence or presence of any latent or patent defects at or within the Sale Property, or the compliance
of the Sale Property with any Laws.

 

    	 	26	 

     

    

 

(c)
There shall be no adjustments or prorations at the closing of a purchase pursuant to Section 21.2; and each party shall pay the
costs, expenses and charges as set forth in Landlord’s Offer, or if not addressed therein, then as customarily allocated
to a seller or buyer (as the case may be) in the state in which the Sale Property is located. Upon the completion of any purchase
of the Sale Property but not prior thereto (whether or not any delay or failure in the completion of such purchase shall be the
fault of Landlord), this Lease shall terminate, except with respect to obligations and liabilities of Tenant hereunder, actual
or contingent, which have arisen on or prior to such completion of purchase or which specifically survive the expiration or earlier
termination of this Lease.

 

ARTICLE
XXII 

GENERAL
PROVISIONS 

 

22.1
Relationship Between Landlord and Tenant. Nothing contained in this Lease shall be construed as creating any relationship
between Landlord and Tenant other than that of landlord and tenant. The business relationship created by this Lease and any related
documents is solely that of a long term commercial lease between Landlord and Tenant, and neither this Lease nor any of the agreements
contained in this Lease shall be deemed or construed to create a partnership or joint venture between Landlord and Tenant.

 

22.2
Brokers. Each of Landlord and Tenant represents to the other that it has not employed or dealt with any third party broker,
agent, or finder in connection with this Lease, other than Cushman & Wakefield of Florida, Inc./DTZ (the “Broker”).
Landlord shall indemnify and hold harmless Tenant from and against any claim for brokerage or other commissions asserted by any
broker, agent, or finder employed by Landlord or with whom Landlord has dealt (other than the Broker). Tenant shall indemnify
and hold harmless Landlord from and against any claim for brokerage or other commissions asserted by any broker, agent, or finder
employed by Tenant or with whom Tenant has dealt (other than the Broker). The Broker’s commissions shall be paid by Tenant
pursuant to a separate commission agreement.

 

22.3
Estoppel. Upon not less than 15 Business Days’ prior written notice, Landlord or Tenant (the “Certifying
Party”), as applicable, shall execute and deliver to the other party (the “Requesting Party”) a written
statement in substantially the form attached hereto as Schedule 22.3 (the “Estoppel Certificate”). The
Certifying Party acknowledges that a purchaser, investor, or lender of the Requesting Party may rely upon the truth of the matters
set forth in such Estoppel Certificate; provided, however, in the event any statement or certification by the Certifying
Party in an Estoppel Certificate proves inaccurate, the Certifying Party shall be estopped from taking a position contrary to
the inaccurate statement or certification but shall not be subject to any damages or liability for such inaccuracy, except in
the event of fraud or intentional misrepresentation by the Certifying Party. In the event of any conflict or discrepancy between
any statement or certification in an Estoppel Certificate and any provision of this Lease, the Lease provision shall control.

 

22.4
Notices. All notices or other communications required under this Lease shall be in writing and shall be deemed duly given
and received when delivered in person (with receipt therefor), on the next Business Day after deposit with a recognized overnight
delivery service if sent by overnight delivery, or on the fifth calendar day after being sent by certified or registered mail,
return receipt requested, postage prepaid, to the applicable notice address(es) specified in Article I. Either party may change
its address for the giving of notices by notice given in accordance with this Section 22.4.

 

    	 	27	 

     

    

 

22.5
Validity. Each provision of this Lease shall be valid and enforceable to the fullest extent permitted by law. If any provision
of this Lease or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, then
such provision shall be deemed to be replaced by the valid and enforceable provision most substantively similar to such invalid
or unenforceable provision, and the remainder of this Lease and the application of such provision to persons or circumstances
other than those as to which it is invalid or unenforceable shall not be affected thereby.

 

22.6
Successors and Assigns. The provisions of this Lease shall be binding upon and inure to the benefit of the parties and
each of their respective representatives, successors, and assigns.

 

22.7
Entire Agreement; Amendments. This Lease contains and embodies the entire agreement of Landlord and Tenant with regard
to the subject matter covered in this Lease, and this Lease and supersedes all prior agreements, negotiations, letters of intent,
proposals, representations, warranties, understandings, and discussions, whether written or oral, between Landlord and Tenant
with respect to such subject matter. Any representation, inducement, warranty, understanding, or agreement that is not expressly
set forth in this Lease shall be of no force or effect. This Lease may be modified or changed only by an instrument signed by
both parties. This Lease includes and incorporates all Exhibits and Schedules attached hereto.

 

22.8
Governing Law; Interpretation. This Lease shall be governed by the Laws of the state in which the Premises are located
(excluding any principles of conflicts of laws). There shall be no presumption that this Lease be construed more strictly against
the party who itself or through its agent prepared it, it being agreed that all parties hereto have participated in the preparation
of this Lease and that each party had the opportunity to consult legal counsel before the execution of this Lease.

 

22.9
Headings. Headings are used for convenience and shall not be considered when construing this Lease.

 

22.10
Execution and Delivery. This Lease shall become effective and binding only upon execution and delivery by both Landlord
and Tenant.

 

22.11
Time of Essence. Time is of the essence with respect to each of Landlord’s and Tenant’s obligations in this
Lease of which time is a factor.

 

22.12
Counterparts; Electronic Signatures. This Lease may be executed in multiple counterparts, each of which shall be deemed
an original, and all of which together shall constitute one and the same document. The parties may deliver executed signature
pages to this Lease by facsimile or PDF transmission to the other party, which facsimile or PDF copy shall be deemed to be an
original executed signature page.

 

22.13
Waiver of Jury Trial. EACH OF LANDLORD AND TENANT KNOWINGLY AND VOLUNTARILY WAIVES (A) TRIAL BY JURY IN ANY ACTION, PROCEEDING,
CLAIM, OR COUNTERCLAIM BROUGHT IN CONNECTION WITH ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS LEASE, THE RELATIONSHIP
OF LANDLORD AND TENANT, OR TENANT’S USE OR OCCUPANCY OF THE PREMISES, (B) ANY OBJECTION TO THE VENUE OF ANY ACTION FILED
IN ANY COURT SITUATED IN THE JURISDICTION IN WHICH THE PREMISES ARE LOCATED, AND (C) ANY RIGHT, CLAIM, OR POWER, UNDER THE DOCTRINE
OF FORUM NON CONVENIENS OR OTHERWISE, TO TRANSFER ANY SUCH ACTION TO ANY OTHER COURT.

 

    	 	28	 

     

    

 

22.14
Landlord Cooperation. Landlord shall cooperate and join in any documents, applications, or procedures when Landlord’s
joinder is required as a procedural matter, provided that Tenant shall reimburse Landlord for all reasonable costs and expenses
of Landlord in connection with such cooperation and joinder.

 

22.15
Attorneys’ Fees. If either party commences or engages in any legal action or proceeding against the other party arising
out of or in connection with this Lease or the Premises [including, without limitation, (a) the enforcement or interpretation
of either party’s rights or obligations under this Lease (whether in contract, tort, or both), or (b) the declaration of
any rights or obligations under this Lease], the prevailing party in such action or proceeding shall be entitled to recover from
the non-prevailing party reasonable attorneys’ and paralegals’ fees and court costs (including those incurred at trial
or in connection with any arbitration, bankruptcy, or appellate proceedings).

 

22.16
Radon Gas Disclosure. Pursuant to Section 404.056(7), Florida Statutes, the following notification is provided:
“Radon is a naturally occurring radioactive gas that, when it has 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 buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county
health department.”

 

22.17
Business Days. If the date upon which any obligation or payment is due occurs on a day that is not a Business Day, then
such time period shall automatically be extended to the next Business Day. A “Business Day” means Monday through
Friday, excepting Federal holidays.

 

22.18
Memorandum of Lease. Concurrently with the execution and delivery of this Lease, Landlord and Tenant shall execute a memorandum
of lease in the form attached hereto as Schedule 22.18. Tenant is authorized to record, at Tenant’s sole expense,
the memorandum of lease in the public records of the county in which the Premises are located.

 

22.19
Landlord Lien Subordination. Landlord hereby subordinates any right that Landlord now possesses or may by virtue of law
hereafter acquire, to seize, hold, distrain, levy on, take possession of, sell or otherwise interfere with any and all chattels,
new or used, that are owned, or may hereafter be acquired by Tenant by Landlord lien or otherwise. Without limiting the self-executing
nature of the immediately preceding sentence, Landlord shall, within ten

(10)
Business Days after written notice from Tenant, execute and deliver to Tenant an agreement substantially in the form attached
hereto as Schedule 22.19, or in such other form as may be requested by Tenant’s lender and acceptable to Landlord
(and with such commercially reasonable modifications as may be requested by Landlord).

 

22.20
Authority. Each of Landlord and Tenant represents that (a) the person executing and delivering this Lease on its behalf
is duly authorized to do so; (b) it was duly organized and is in good standing in the state of its organization; (c) it is qualified
to do business in the jurisdiction in which the Premises are located; and (d) it has the power and authority to enter into this
Lease.

 

22.21
Direct Action by Landlord. In the event that Tenant fails to maintain or repair the Premises or any portion thereof as
required under this Lease, which failure is not cured within a reasonable time, but in any event within the cure period allowed
Tenant pursuant to Section 16.1, Landlord shall have the right, but not the obligation, to perform Tenant’s obligations
hereunder and to charge Tenant as Additional Rent for all reasonable costs and expenses incurred in connection therewith.

 

    	 	29	 

     

    

 

ARTICLE
XXIII 

REIT
STATUS 

 

23.1
REIT Status. Tenant acknowledges that Landlord is indirectly owned in part by an affiliated entity (the “REIT
Company”) that elects to be taxed as a real estate investment trust (a “REIT”) under the Internal
Revenue Code of 1986, as amended (the “Code”). Tenant shall not knowingly take or omit to take any action,
or knowingly permit any status to exist at the Premises, which would materially adversely affect the REIT Company’s status
as a REIT; provided however, Tenant shall not be deemed to be in violation of this sentence with respect to any actions taken
by Tenant in good faith and consistent with the other terms and conditions of this Lease. Tenant hereby agrees to modifications
of this Lease that do not materially adversely affect Tenant’s rights, obligations or liabilities hereunder if such modifications
are required to retain or clarify the REIT Company’s status as a REIT.

 

[Signature
page(s) follow]

 

    	 	30	 

     

    

 

 

    	 	31	 

     

    

 

 

    	 	32	 

     

    

 

EXHIBIT
A 

 

LEGAL
DESCRIPTION OF PREMISES 

 

The
land referred to herein below is situated in the County of Hillsborough, State of Florida, and is described as follows:

 

PARCEL
1: A PORTION OF THE NORTHEAST 1/4 OF SECTION 33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, AND A PORTION OF THE SOUTHEAST 1/4 OF THE NORTHWEST
1/4 OF SECTION 33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, HILLSBOROUGH COUNTY, FLORIDA, BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCE
AT THE NORTHEAST CORNER OF SECTION 33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, AND RUN ALONG THE NORTH BOUNDARY OF THE NORTHEAST 1/4
OF SECTION 33, NORTH 89°55’05” WEST, 662.41 FEET; THENCE SOUTH 0°17’21” EAST, 33.00 FEET TO THE
POINT OF BEGINNING; THENCE FROM SAID POINT OF BEGINNING THE FOLLOWING FORTY-FIVE (45) COURSES: 1) SOUTH 00°17’21”
EAST, 274.28 FEET; 2) SOUTH 89°55’07” EAST, 608.08 FEET; 3) SOUTH 00°08’04” EAST, 50.00 FEET;
4) NORTH 89°55’07” WEST, 607.94 FEET; 5) SOUTH 00°17’21” EAST, 209.67 FEET; 6) SOUTH 51°42’23”
EAST, 579.58 FEET; 7) SOUTH 41°37’52” WEST, 526.94 FEET; 8) NORTH 89°59’17” EAST, 66.99 FEET;
9) SOUTH 41°38’05” WEST, 390.19 FEET TO A POINT OF CURVE; 10) ALONG THE ARC OF A CURVE TO THE RIGHT CONCAVE TO
THE NORTHWEST RADIUS 380.00 FEET, DELTA 002°34’59”, ARC 17.13 FEET, CHORD BEARING SOUTH 42°55’35”
WEST, 17.13 FEET; 11) LEAVING SAID CURVE SOUTH 77°50’15” WEST, 424.19 FEET; 12) SOUTH 72°07’36”
WEST, 100.85 FEET; 13) SOUTH 69°18’22” WEST, 101.12 FEET; 14) SOUTH 77°50’14” WEST, 200.00 FEET;
15) NORTH 86°38’04” WEST, 207.12 FEET; 16) SOUTH 77°50’14” WEST, 349.95 FEET; 17) SOUTH 63°48’07”
WEST, 103.09 FEET; 18) SOUTH 77°50’14” WEST, 250.03 FEET; 19) SOUTH 69°18’23” WEST, 101.12 FEET;
20) SOUTH 77°50’14” WEST, 187.21 FEET; 21) NORTH 00°14’15” WEST, 492.57 FEET; 22) NORTH 89°52’26”
EAST, 119.74 FEET; 23) NORTH 04°54’23” EAST, 497.49 FEET; 24) SOUTH 67°02’44” EAST, 108.74 FEET;
25) NORTH 00°24’05” WEST, 113.74 FEET; 26) NORTH 00°14’15” WEST, 757.02 FEET; 27) SOUTH 89°55’05”
EAST, 92.79 FEET; 28) NORTH 00°14’15” WEST, 210.00 FEET; 29) SOUTH 89°55’05” EAST, 360.78 FEET;
30) SOUTH 00°13’43” EAST, 400.00 FEET; 31) SOUTH 89°55’05” EAST, 125.00 FEET; 32) SOUTH 00°13’43”
EAST, 100.00 FEET; 33) SOUTH 89°55’05” EAST, 300.00 FEET; 34) NORTH 00° 13’43” WEST, 100.00 FEET;
35) NORTH 89°55’05” WEST, 100.00 FEET; 36) NORTH 00°13’43” WEST, 204.00 FEET; 37) SOUTH 89°55’05”
EAST, 3.00 FEET; 38) NORTH 00°13’43” WEST, 36.00 FEET; 39) NORTH 89°55’05” WEST, 3.00 FEET; 40)
NORTH 00°13’43” WEST, 160.00 FEET; 41) SOUTH 89°55’05” EAST, 364.02 FEET; 42) SOUTH 00°13’58”
EAST, 297.27 FEET; 43) SOUTH 89°56’29” EAST, 363.40 FEET; 44) NORTH 00°13’58” WEST, 297.12 FEET;
45) SOUTH 89°55’05” EAST, 298.97 FEET TO THE AFOREMENTIONED POINT OF BEGINNING.

 

LESS
AND EXCEPT THE FOLLOWING THREE PARCELS (A,B AND C):

 

    	 	33	 

     

    

 

PARCEL
A: (CRACKER BARREL PARCEL): A PARCEL OF LAND IN THE NORTHEAST 1/4 OF SECTION 33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, HILLSBOROUGH
COUNTY, FLORIDA, DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTHEAST CORNER OF SAID SECTION 33, HILLSBOROUGH COUNTY, FLORIDA; THENCE
RUN ALONG THE EAST BOUNDARY OF THE NORTHEAST 1/4 OF SAID SECTION 33, SOUTH 00°14’14” EAST, A DISTANCE OF 1318.90
FEET TO THE NORTH BOUNDARY OF THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION 33; THENCE RUN ALONG THE SAID NORTH BOUNDARY,
SOUTH 89°59’17” WEST, A DISTANCE OF 609.05 FEET TO THE POINT OF BEGINNING; THENCE FROM SAID POINT OF BEGINNING,
DEPARTING SAID NORTH BOUNDARY OF THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 33, RUN THE FOLLOWING SIX (6) COURSES: 1) ALONG
THE ARC OF A CURVE TO THE LEFT, CONCAVE TO THE SOUTHEAST, RADIUS 180.00 FEET, DELTA 021°22’42”, ARC 67.16 FEET,
CHORD BEARING SOUTH 20°08’54” WEST, 66.77 FEET TO A POINT OF REVERSE CURVE; 2) ALONG THE ARC OF A CURVE TO THE
RIGHT, CONCAVE TO THE NORTHWEST, RADIUS 144.00 FEET, DELTA 032° 10’15”, ARC 80.85 FEET, CHORD BEARING SOUTH 25°32’41”
WEST, 79.80 FEET; 3) LEAVING SAID CURVE, SOUTH 41°38’05” WEST, 165.17 FEET TO A POINT ON A CURVE; 4) ALONG THE
ARC OF A CURVE TO THE RIGHT, CONCAVE TO THE NORTHWEST RADIUS 39.00 FEET, DELTA 036°12’26”, ARC 24.65 FEET, CHORD
BEARING SOUTH 59°44’02” WEST, 24.24 FEET TO A POINT OF TANGENCY; 5) SOUTH 77°50’15” WEST, 396.89
FEET; 6) NORTH 00°00’00” EAST, 353.84 FEET TO A POINT ON THE SAID NORTH BOUNDARY OF THE SOUTHEAST 1/4 OF THE NORTHEAST
1/4 OF SECTION 33; THENCE RUN ALONG SAID NORTH BOUNDARY NORTH 89°59’17” EAST, A DISTANCE OF 576.06 FEET TO THE
AFOREMENTIONED POINT OF BEGINNING.

 

PARCEL
B: THAT PART CONVEYED TO CFJ PROPERTIES, A UTAH PARTNERSHIP BY WARRANTY DEED RECORDED IN OFFICIAL RECORDS BOOK 8982, PAGE 1278,
AND BY QUIT CLAIM DEED RECORDED IN OFFICIAL RECORDS BOOK 8982, PAGE 1294, OF THE PUBLIC RECORDS OF HILLSBOROUGH COUNTY, FLORIDA,
BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

A
PARCEL OF LAND IN SECTION 33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, HILLSBOROUGH COUNTY, FLORIDA, DESCRIBED AS FOLLOWS: COMMENCE AT
THE NORTHEAST CORNER OF SAID SECTION 33, HILLSBOROUGH COUNTY, FLORIDA; THENCE RUN ALONG THE NORTH BOUNDARY OF THE NORTHEAST 1/4
OF SAID SECTION 33, NORTH 89°55’05” WEST, A DISTANCE OF 662.41 FEET; THENCE LEAVING SAID NORTH BOUNDARY LINE RUN
SOUTH 00°17’22” EAST, A DISTANCE 57.28 FEET TO THE POINT OF BEGINNING; THENCE FROM SAID POINT OF BEGINNING, THE
FOLLOWING FOUR (4) COURSES: 1) NORTH 00°17’22” WEST, 50.00 FEET; 2) SOUTH 89°55’07” EAST, 608.08
FEET; 3) SOUTH 00°08’04” EAST 50.00 FEET; 4) NORTH 89°55’07” WEST, 607.94 FEET TO THE AFOREMENTIONED
POINT OF BEGINNING.

 

PARCEL
C: THAT PART CONVEYED TO HILLSBOROUGH COUNTY A POLITICAL SUBDIVISION OF THE STATE OF FLORIDA FOR ADDITIONAL RIGHT OF WAY BY THAT
CERTAIN SPECIAL WARRANTY DEED RECORDED JANUARY 6, 2015 IN OFFICIAL RECORDS BOOK 23014, PAGE 490, OF THE PUBLIC RECORDS OF HILLSBOROUGH
COUNTY, FLORIDA AND IS MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

COMMENCING
AT THE NORTHEAST CORNER OF THE NORTHEAST 1/4 OF SECTION 33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, HILLSBOROUGH COUNTY, FLORIDA; THENCE
RUN NORTH 89°52’47” WEST ALONG THE NORTH LINE OF SAID FRACTION, A DISTANCE OF 662.41 FEET; THENCE RUN SOUTH 00°07’13”
WEST, A DISTANCE OF 33.00 FEET TO AN INTERSECTION WITH THE SOUTH RIGHT OF WAY LINE OF EAST SLIGH AVENUE (66 FEET WIDE) AND THE
WEST LINE OF LANDS DESCRIBED IN OFFICIAL RECORD BOOK 17025, PAGE 1930, SAID PUBLIC RECORDS AND THE POINT OF BEGINNING; THENCE
RUN SOUTH 00°15’04” EAST ALONG SAID WEST LINE A DISTANCE OF 25.46 FEET; THENCE RUN SOUTH 38°44’37”
WEST A DISTANCE OF 5.82 FEET; THENCE RUN NORTH 90°00’00” WEST A DISTANCE OF 10.66 FEET; THENCE RUN NORTH 00°07’36”
WEST, A DISTANCE OF 30.02 FEET TO AN INTERSECTION WITH SAID SOUTH LINE OF EAST SLIGH AVENUE; THENCE RUN SOUTH 89°52’47”
EAST ALONG SAID SOUTH LINE, A DISTANCE OF 14.26 FEET TO THE POINT OF BEGINNING.

 

    	 	34	 

     

    

 

PARCEL
1A:

 

TOGETHER
WITH A 50 FOOT INGRESS, EGRESS EASEMENT FOR THE BENEFIT OF PARCEL 1, AS DESCRIBED IN OFFICIAL RECORDS BOOK 8982, PAGE 1278, OF
THE PUBLIC RECORDS OF HILLSBOROUGH COUNTY, FLORIDA.

 

PARCEL
2:

 

THE
WEST 125.0 FEET OF THE EAST 689.0 FEET OF THE SOUTH 400 FEET OF THE NORTH 433.0 FEET OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4
OF SECTION 33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, HILLSBOROUGH COUNTY, FLORIDA.

 

PARCEL
3:

 

THE
WEST 132 FEET OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4, LESS THE NORTH 33 FEET THEREOF
OF SECTION 33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, HILLSBOROUGH COUNTY, FLORIDA; AND THE EAST 132 FEET OF THE WEST 264 FEET OF THE
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4, LESS THE NORTH 33 FEET THEREOF OF SECTION 33, TOWNSHIP
28 SOUTH, RANGE 20 EAST, HILLSBOROUGH COUNTY, FLORIDA.

 

PARCEL
4:

 

THE
SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 28, TOWNSHIP 28 SOUTH, RANGE 20 EAST, LESS THE EAST 30 FEET AND LESS THE SOUTH 33
FEET AND LESS, COMMENCE AT THE SOUTHEAST CORNER OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 28, RUN THENCE NORTH
89°55’13” WEST, 34.74 FEET, THENCE NORTH 0°08’13” WEST, 33 FEET TO THE POINT OF BEGINNING; CONTINUE
THENCE NORTH 0°08’13” WEST, 37 FEET; THENCE SOUTH 45°44’18” WEST, 52.94 FEET, THENCE SOUTH 89°55’13”
EAST, 38 FEET TO THE POINT.OF BEGINNING FOR ROADS, ALL LYING AND BEING IN HILLSBOROUGH COUNTY, FLORIDA.

 

LESS
AND EXCEPT THAT PART CONVEYED TO HILLSBOROUGH COUNTY A POLITICAL SUBDIVISION OF THE STATE OF FLORIDA FOR ADDITIONAL RIGHT OF WAY
BY THAT CERTAIN SPECIAL WARRANTY DEED RECORDED JANUARY 6, 2015 IN OFFICIAL RECORDS BOOK 23014, PAGE 468, OF THE PUBLIC RECORDS
OF HILLSBOROUGH COUNTY, FLORIDA AND IS MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

    	 	35	 

     

    

 

COMMENCING
AT THE SOUTHEAST CORNER OF THE SOUTHEAST 1/4 OF SECTION 28, TOWNSHIP 28 SOUTH, RANGE 20 EAST, HILLSBOROUGH COUNTY, FLORIDA; THENCE
RUN NORTH 89°52’47” WEST ALONG THE SOUTH LINE OF SAID FRACTION A DISTANCE OF 72.84 FEET; THENCE RUN NORTH 00°07’13”
EAST, A DISTANCE OF 33.00 FEET TO AN INTERSECTION WITH THE NORTH RIGHT-OF-WAY LINE OF EAST SLIGH AVENUE AND THE POINT OF BEGINNING;
THENCE RUN NORTH 89°52’47” WEST ALONG SAID NORTH LINE FOR 604.20 FEET; THENCE RUN NORTH 00°07’13”
EAST FOR 7.50 FEET; THENCE RUN SOUTH 89°52’47” EAST FOR 587.02 FEET; THENCE RUN NORTH 45°18 ’11”
EAST FOR 58.85 FEET; THENCE RUN NORTH 00°04’01” WEST FOR 520.57 FEET; THENCE RUN NORTH 89°55’59”
EAST FOR 8.00 FEET; THENCE RUN NORTH 00°04’01” WEST FOR 720.77 FEE TO AN INTERSECTION WITH THE NORTH LINE OF LANDS
DESCRIBED IN OFFICIAL RECORD BOOK 22219, PAGE 1528 OF THE PUBLIC RECORDS OF HILLSBOROUGH COUNTY, FLORIDA; THENCE RUN SOUTH 89°51’28”
EAST ALONG SAID NORTH LINE FOR 10.00 FEET TO AN INTERSECTION WITH THE WEST RIGHT OF WAY LINE OF MANGO ROAD (C.R. 579); THENCE
RUN THE FOLLOWING THREE (3) COURSES ALONG SAID WEST LINE; SOUTH 00°04’01” EAST FOR 1,253.33 FEET; NORTH 90°00’00”
WEST FOR 4.74 FEET; SOUTH 45°47’02” WEST FOR 52.95 FEET TO THE POINT OF BEGINNING.

 

PARCEL
5:

 

THE
EAST 99.40 FEET OF THE WEST 363.40 FEET OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION
33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, HILLSBOROUGH COUNTY, FLORIDA, LESS THE NORTH 33 FEET THEREOF FOR ROAD.

 

PARCEL
6:

 

LOT
BEGINNING 464 FEET WEST OF THE NORTHEAST CORNER OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SECTION 33, TOWNSHIP 28 SOUTH, RANGE
20 EAST, HILLSBOROUGH COUNTY, FLORIDA, AND RUN WEST 100 FEET; THENCE RUN SOUTH 433 FEET; THENCE RUN EAST 100 FEET; AND THENCE
RUN NORTH 433 FEET; LESS THE NORTH 33 FEET THEREOF FOR ROAD PURPOSES.

 

PARCEL
7:

 

BEGIN
264 FEET WEST OF THE NORTHEAST CORNER OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SECTION 33, TOWNSHIP 28 SOUTH, RANGE 20 EAST,
AND RUN THENCE WEST 100 FEET FOR A POINT OF BEGINNING; THENCE RUN SOUTH 193 FEET; THENCE RUN EAST 3 FEET; THENCE RUN SOUTH 36
FEET; THENCE RUN WEST 3 FEET; THENCE RUN SOUTH 204 FEET; THENCE RUN WEST 100 FEET; THENCE RUN NORTH 433 FEET; THENCE RUN EAST
100 FEET TO THE POINT OF BEGINNING; LESS THE NORTH 33 FEET THEREOF FOR ROAD PURPOSES.

 

PARCEL
8:

 

THE
WEST 300 FEET OF THE EAST 564 FEET OF THE SOUTH 100 FEET OF THE NORTH 533 FEET OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SECTION
33, TOWNSHIP 28 SOUTH, RANGE 20 EAST, HILLSBOROUGH COUNTY, FLORIDA.

 

PARCEL
9:

 

THE
NORTH 568.18 FEET OF THE EAST 766.8 FEET OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 28, TOWNSHIP 28 SOUTH, RANGE 20
EAST, HILLSBOROUGH COUNTY, FLORIDA.

 

    	 	36	 

     

    

 

SCHEDULE
2.3 

 

GUARANTY

 

[See
attached] 

 

    	 	37	 

     

    

 

GUARANTY
AND SUBORDINATION AGREEMENT 

[LAZ-001]

 

THIS
GUARANTY AND SUBORDINATION AGREEMENT (this “Agreement”), made as of the 23rd day of December, 2015, by LAZYDAYS
ARIZONA, LLC, a Delaware limited liability company, LAZYDAYS LAND HOLDINGS, LLC, a Delaware limited liability company, LAZYDAYS
TAMPA LAND HOLDINGS, LLC, a Delaware limited liability company, and LAZY DAYS R.V. CENTER, INC., a Delaware corporation, LAZYDAYS
RV AMERICA, LLC, a Delaware limited liability company, LAZYDAYS MILE HI RV, LLC, a Delaware limited liability company, and LAZYDAYS
RV DISCOUNT, LLC, a Delaware limited liability company (individually and collectively, “Guarantor”), in favor
of CARS MTI-4 L.P., a Delaware limited partnership (“Landlord”).

 

WITNESSETH:

 

WHEREAS,
Landlord and LDRV Holdings Corp., a Delaware corporation (“Tenant”) entered into that certain Lease Agreement
dated as of even date herewith (the “Lease”), a true and correct copy of which is attached hereto as Exhibit
A and by this reference made a part hereof, for the property known as 6102 & 6130 Lazy Days Boulevard and 6210 Country
Road 579, Seffner, Florida 33584 (the “Property”) as more particularly described in the Lease;

 

WHEREAS,
Tenant and Guarantor are affiliates; and

 

WHEREAS,
Landlord has required, as a condition to entering into the Lease, that the Guarantor guarantee for the benefit of Landlord each
and every obligation imposed upon Tenant by the Lease.

 

NOW,
THEREFORE, to induce Landlord to enter into the Lease and in consideration of the foregoing premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, each Guarantor, for itself, its heirs, successors
and assigns, hereby covenants and agrees for the benefit of Landlord, as follows:

 

1.
Guaranty. Guarantor does hereby unconditionally and irrevocably, jointly and severally, guaranty to Landlord the full,
complete and timely performance of all obligations imposed on Tenant by the terms of the Lease, including, but not limited to,
the full, complete and timely payment of rent and all other sums due by Tenant under the Lease, and the payment as required by
the Lease of all damages to Landlord which may result from Tenant’s breach of any provision of the Lease, including, but
not limited to, those relating to damage to the Property.

 

2.
Guaranty of Payment and Performance. Guarantor acknowledges and agrees that this is a guaranty of payment and performance
and not mere collection. The liability of Guarantor under this Agreement shall be direct and immediate and not conditional or
contingent upon the pursuit of any remedies against Tenant or any other person or entity. Guarantor waives any right to require
that an action be brought against Tenant or any other person or entity as a condition precedent to the enforcement of this Agreement.
In the event, on account of the Bankruptcy Reform Act of 1978 (11 USC §§101-1330) as now or hereafter amended, recodified
or replaced (the “Bankruptcy Code”), or any other debtor relief law (whether statutory, common law, case law
or otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable (collectively, the
“Insolvency Laws”), Tenant shall be relieved of the Lease or any debt, obligation or liability under the Lease,
Guarantor shall nevertheless be fully liable for the complete and timely performance of all obligations imposed on Tenant by the
Lease throughout the entire term of the Lease, all to the same extent as if Guarantor had been the original tenant thereunder
and the Lease shall be deemed unaffected by any such relief granted to Tenant. In the event of a default under the Lease which
is not cured within any applicable grace or cure period, Landlord shall have the right to enforce its rights, powers and remedies
thereunder or hereunder, in any order to the maximum extent permitted by law, and all rights, powers and remedies provided thereunder
or hereunder or at law or in equity. If the obligations guaranteed hereby are partially performed, paid or discharged by reason
of the exercise of any of the remedies available to Landlord, this Agreement shall nevertheless remain in full force and effect,
and Guarantor shall continue to be liable for all remaining obligations guaranteed hereby, even though any subrogation or other
rights which Guarantor may have against Tenant may be legally or practically destroyed or dismissed by the exercise of any such
remedy.

 

    	 	38	 

     

    

 

3.
Waivers by Guarantor. To the extent permitted by law, Guarantor hereby waives and agrees not to assert or take advantage
of:

 

(a)
Any right to require Landlord to proceed against Tenant or any other person or entity or to proceed against or exhaust any security
held by Landlord at any time or to pursue any other remedy in Landlord’s power or under any other agreement before proceeding
against Guarantor;

 

(b)
Any defense that may arise by reason of the incapacity, lack of authority, death or disability of any other person or persons
or the failure of Landlord to file or enforce a claim against the estate (in administration, bankruptcy or any other proceeding)
of any other person or persons:

 

(c)
Any defense based upon an election of remedies by Landlord;

 

(d)
Any right or claim or right to cause a marshaling of the assets of Tenant or Guarantor;

 

(e)
Any invalidity, irregularity or unenforceability, in whole or in part, of any one or more provisions of the Lease;

 

(f)
Any modification of the Lease or of any obligation of Tenant thereunder by amendments to the Lease, by waivers granted by Landlord
or by operation of law or by action of any court, whether pursuant to the Bankruptcy Code, or any other Insolvency Laws.

 

4.
Intentionally Omitted.

 

5.
General Provisions.

 

(a)
Survival. This Agreement shall be deemed to be continuing in nature and shall remain in full force and effect and shall
survive the exercise of any remedy by Landlord under the Lease;

 

(b)
No Subrogation: No Recourse Against Landlord. Notwithstanding the satisfaction by Guarantor of any liability hereunder,
Guarantor’s rights of subrogation, contribution, reimbursement or indemnity, if any, or any right of recourse to or with
respect to the assets or property of Tenant, shall be subject and subordinate to the rights of Landlord under the Lease. Guarantor
expressly agrees not to exercise any and all rights of subrogation against Landlord.

 

    	 	39	 

     

    

 

(c)
Entire Agreement: Amendment: Severability. This Agreement contains the entire agreement between the parties respecting
the matters herein set forth and supersedes all prior agreements, whether written or oral, between the parties respecting such
matters. Any amendments or modifications hereto, in order to be effective, shall be in writing and executed by Landlord and Guarantor.
A determination that any provision of this Agreement is unenforceable or invalid shall not affect the enforceability or validity
of any other provision, and any determination that the application of any provision of this Agreement to any person or circumstance
is illegal or unenforceable shall not affect the enforceability or validity of such provision as it may apply to any other persons
or circumstances.

 

(d)
Governing Law: Binding Effect: Waiver of Acceptance. This Agreement shall be governed by and construed in accordance with
the laws of the State of Florida without regard to conflicts of laws principles thereof. This Agreement shall bind Guarantor,
their successors and assigns (but in the event of an assignment, Guarantor shall not be relieved of its obligations hereunder),
and shall inure to the benefit of Landlord, its successors and assigns. Guarantor hereby waives any acceptance of this Agreement
by Landlord and this Agreement shall immediately be binding upon Guarantor. Where appropriate under the circumstances, this Agreement
shall be construed so that the singular means the plural and the plural means the singular.

 

(e)
Notice. All notices or other communications required under this Agreement shall be in writing and shall be deemed duly
given and received when either (i) delivered in person (with receipt therefor), on the date sent if sent by facsimile with a copy
sent by one of the other methods of delivery described in this Section, (ii) on the next business day after deposit with a recognized
overnight delivery service if sent by overnight delivery, or (iii) on the fourth day after being sent by certified or registered
mail, return receipt requested, postage prepaid, to the following addresses:

 

	 	If
    to Guarantor:	 	c/o
    LDRV Holdings Corp.
	 	 	 	6130
    Lazy Days Boulevard
	 	 	 	Seffner,
    Florida 33584-2968
	 	 	 	Attn:
    Chief Financial Officer
	 	 	 	 
	 	with
    copies to:	 	c/o
    LDRV Holdings Corp.
	 	 	 	6130
    Lazy Days Boulevard
	 	 	 	Seffner,
    Florida 33584-2968
	 	 	 	Attn:
    General Counsel
	 	 	 	 
	 	 	 	Hill
    Ward Henderson
	 	 	 	101
    East Kennedy Boulevard, Suite 3700
	 	 	 	Tampa,
    Florida 33602
	 	 	 	Attn:
    Scott W. Dibbs
	 	 	 	 
	 	If
    to Landlord:	 	c/o
    Capital Automotive LLC
	 	 	 	8270
    Greensboro Drive, Suite 950
	 	 	 	McLean,
    Virginia 22102
	 	 	 	Attn:
    Portfolio Manager
	 	 	 	Fax:
    703-288-3375

 

    	 	40	 

     

    

 

	 	with
    a copy to:	 	Jones
    Day
	 	 	 	1420
    Peachtree Street, N.E., Suite 800
	 	 	 	Atlanta,
    Georgia 30309
	 	 	 	Attention:
    Scott A. Specht, Esq.
	 	 	 	Fax:
    404-581-8330

 

Either
party may change its address for the giving of notices by notice given in accordance with this Section.

 

(f)
No Waiver: Time of Essence. The failure of either party to enforce any of the respective rights or remedies hereunder,
or to promptly enforce any such rights or remedies, shall not constitute a waiver thereof nor give rise to any estoppel against
such party nor excuse any of the parties hereto from their respective obligations hereunder. Any waiver of such right or remedy
must be in writing and signed by the party to be bound and must expressly state that such right or remedy has been or thereby
is waived. This Agreement is subject to enforcement at law or in equity, including actions for damages or specific performance.
Time is of the essence hereof.

 

(g)
Captions for Convenience. The captions and headings of the section and paragraphs of this Agreement are for convenience
of reference only and shall not be construed in interpreting the provisions hereof.

 

(h)
Attorney’s Fees. In the event it is necessary for Landlord to retain the services of an attorney or any other consultants
in order to enforce this Agreement, or any portion hereof, Guarantor shall promptly pay to Landlord any and all costs and expenses,
including, without limitation, attorney’s fees, incurred by Landlord as a result thereof and such costs, fees and expenses
shall be included in the costs of the case to the extent the Landlord wins the issue under contest.

 

(i)
Successive Actions. Separate and successive actions may be brought hereunder to enforce any of the provisions hereof at
any time and from time to time. No action hereunder shall preclude any subsequent action, and Guarantor hereby waive any covenants
to the maximum extent permitted by law not to assert any defense in the nature of splitting of causes of action or merger of judgments.

 

(j)
Reliance. Landlord would not enter into the Lease without this Agreement. Accordingly, Guarantor intentionally, irrevocably
and unconditionally enters into the covenants and agreements as set forth above and understands that, in reliance upon and in
consideration of such covenants and agreements, the Lease has been made.

 

(k)
Joint and Several Liability. If more than one Guarantor has executed this Agreement or otherwise guaranteed the Lease,
each such Guarantor shall be jointly and severally liable hereunder. All references to “Guarantor” hereunder shall
mean each Guarantor.

 

(l)
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be effective only upon
delivery and thereafter shall be deemed an original, and all of which shall be taken to be one and the same instrument, for the
same effect as if all parties hereto had signed the same signature page. Any signature page of this Agreement may be detached
from any counterpart of this Agreement without impairing the legal effect of any signatures thereon and may be attached to another
counterpart of this Agreement identical in form hereto but having attached to it one or more additional signature pages.

 

    	 	41	 

     

    

 

(m)
Authority. Guarantor and each of the persons executing this Agreement on behalf of Guarantor hereby covenant and warrant
that: (i) such entity is a duly organized entity, validly existing and in good standing under the laws of the State of its organization,
and the State where the entity is located, if different, (ii) such entity has full right and authority to enter into this Agreement,
and (iii) the person signing on behalf of Guarantor is authorized to do so on behalf of such entity.

 

(n)
Consent to Jurisdiction and Venue. To the maximum extent permitted by law, Guarantor hereby irrevocably submits to the
jurisdiction of any Florida State or Federal court sitting in Hillsborough County, Florida or the Middle District of Florida over
any suit, action or proceeding arising out of or relating to this Agreement or the Lease. Guarantor hereby agrees that Landlord
shall have the option in its sole discretion to lay the venue of any such suit, action or proceeding in the courts of the State
of Florida or the United States of America for the Middle District of Florida and irrevocably waives to the fullest extent permitted
by law any objection which Guarantor may now or hereafter have to the laying of the venue of any such suit, action or proceeding
brought in such court and any claim that any suit, action or proceeding brought in such court has been brought in an inconvenient
forum. Guarantor agrees that a final judgment of any such suit, action or proceeding brought in such court shall be conclusive
and binding upon Guarantor.

 

(o)
Waiver of Jury Trial. GUARANTOR HEREBY WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT IN
CONNECTION WITH ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS GUARANTY OR THE LEASE, THE RELATIONSHIP OF GUARANTOR
AND LANDLORD, TENANT’S USE OR OCCUPANCY OF THE PREMISES, AND/OR ANY CLAIM OF INJURY OR DAMAGE.

 

(Remainder
of Page Intentionally Left Blank)

 

    	 	42	 

     

    

 

IN
WITNESS WHEREOF, Guarantor has executed this Agreement under seal as of the day and year first above written:

 

	 	LAZYDAYS
    ARIZONA, LLC, 
	 	a
    Delaware limited liability company 
	 	 
	 	By:	LDRV
    Holdings Corp., a Delaware corporation, its manager 
	 	 
	 	By:
     ______________________________
	 	Name:
    ____________________________
	 	Title:
    _____________________________
	 	 
	 	LAZYDAYS
    LAND HOLDINGS, LLC, 
	 	a
    Delaware limited liability company 
	 	 
	 	By:
    	LDRV
    Holdings Corp., a Delaware corporation, its manager 
	 	 
	 	By:
     _______________________________
	 	Name:
     _____________________________
	 	Title:
    ______________________________
	 	 
	 	LAZYDAYS
    TAMPA LAND HOLDINGS, LLC, 
	 	a
    Delaware limited liability company 
	 	 
	 	By:
    	LDRV
    Holdings Corp., a Delaware corporation, its manager 
	 	 
	 	By:
     _________________________________
	 	Name:
    _______________________________
	 	Title:
    ________________________________
	 	 
	 	LAZY
    DAYS R.V. CENTER, INC., 
	 	a
    Delaware corporation 
	 	 
	 	By:
     _________________________________
	 	Name:
    _______________________________
	 	Title:
    __________________________________ 

 

    	 	43	 

     

    

 

	 	LAZYDAYS
    RV AMERICA, LLC, 
	 	a
    Delaware limited liability company 
	 	 
	 	By:
    	LDRV
    Holdings Corp., a Delaware corporation, its manager 
	 	 
	 	By:
     ______________________________
	 	Name:
     ____________________________
	 	Title:
     _____________________________
	 	 
	 	LAZYDAYS
    MILE HI RV, LLC, 
	 	a
    Delaware limited liability company 
	 	 
	 	By:
    	LDRV
    Holdings Corp., a Delaware corporation, its manager 
	 	 
	 	By:
     ______________________________
	 	Name:
     ____________________________
	 	Title:
    _____________________________
	 	 
	 	LAZYDAYS
    RV DISCOUNT, LLC, 
	 	a
    Delaware limited liability company 
	 	 
	 	By:
    	LDRV
    Holdings Corp., a Delaware corporation, its manager 
	 	 
	 	By:
     ______________________________
	 	Name:
    _____________________________
	 	Title:
    ______________________________

 

    	 	44	 

     

    

 

EXHIBIT
A

 

[Attach
Copy of Executed Lease]

 

    	 	45	 

     

    

 

SCHEDULE
17.1 

FIRST
LIEN SUBORDINATION, NON-DISTURBANCE 

AND
ATTORNMENT AGREEMENT 

[LAZ-001]

 

THIS
AGREEMENT (“Agreement”) is made as of __________ __, 20__ by and between _____________ (together with its successors
and assigns, “Lender”), CARS MTI-4 L.P., a Delaware limited partnership (the “Landlord”),
and LDRV HOLDINGS CORP., a Delaware corporation (“Tenant”).

 

WITNESSETH:

 

WHEREAS,
pursuant to that certain Lease Agreement dated December ___, 2015, as may be amended, and as described on Exhibit A attached
hereto and made a part hereof (such lease, together with all supplements, amendments and other modifications described on Exhibit
A, herein the “Lease”), the landlord identified on Exhibit A (the “Landlord”)
has leased to Tenant real property (the “Real Property”); and

 

WHEREAS,
Lender is making a first lien loan to Landlord and/or certain affiliates of Landlord (the “First Lien Loan”),
which will be secured, in part, by a first lien mortgage, deed of trust or security deed and an assignment(s) of leases and rents
from the Landlord to the Lender, covering the Real Property (the “First Lien Mortgage”); and

 

WHEREAS,
Tenant has agreed that the Lease shall be subject and subordinate to the First Lien Mortgage held by Lender, provided Tenant is
assured of continued occupancy of the Real Property under the terms of the Lease.

 

NOW,
THEREFORE, for and in consideration of the mutual covenants herein contained, the sum of Ten Dollars ($10.00) and other good and
valuable considerations, the receipt and sufficiency of which are hereby acknowledged, and notwithstanding anything in the Lease
to the contrary, it is hereby agreed as follows:

 

1.
Subordination of Lease. Lender and Tenant do hereby covenant and agree that the Lease with all rights, options, liens and
charges created thereby, is and shall continue to be subject and subordinate in all respects to the lien created by the First
Lien Mortgage, including any renewals, modifications, consolidations, replacements and extensions thereof. The advancement of
additional monies, the repayment of which is secured by the First Lien Mortgage, shall not affect the subordination provided for
in this Agreement.

 

2.
Non-disturbance of Tenant. Lender does hereby agree with Tenant that, in the event Lender becomes the owner of the Real
Property by foreclosure, conveyance in lieu of foreclosure or otherwise (collectively, a “Foreclosure Event”),
so long as there exists no event of default under the Lease, after the expiration of applicable cure or grace periods (a) Lender
will take no action which will interfere with or disturb Tenant’s possession or use of the Real Property or other rights
under the Lease, (b) the Real Property shall be subject to the Lease and Lender shall recognize Tenant as the tenant of the Real
Property for the remainder of the term of the Lease in accordance with the provisions thereof, including but not limited to the
ROFO Purchase Right (as defined in paragraph 4 below) provided to Tenant under the Lease, and (c) Lender will make available to
Tenant any condemnation proceeds and insurance proceeds received by Lender related to the Property for the restoration of the
Premises in accordance with the Lease, provided, however, that Lender shall not be subject to any
offsets or defenses which Tenant might have against any prior landlord except those which arose under the provisions of the Lease
out of such landlord’s default and accrued after Tenant had notified Lender and given Lender the opportunity to cure same
as hereinbelow provided, nor shall Lender be liable for any act or omission of any prior landlord, nor shall Lender be bound by
any rent or additional rent which Tenant might have paid for more than the current month to any prior landlord nor shall it be
bound by any amendment or modification (other than an amendment or modification memorializing Tenant’s unilateral exercise
of any of its express rights in the Lease, including, without limitation, Tenant’s renewal options) of the Lease made without
its consent, which consent shall not be unreasonably withheld, conditioned or delayed.

 

    	 	46	 

     

    

 

3.
Attornment by Tenant. Tenant does hereby agree with Lender that, in the event Lender becomes the owner of the Real Property
by foreclosure, conveyance in lieu of foreclosure or otherwise, then Tenant shall attorn to and recognize Lender as the landlord
under the Lease for the remainder of the term thereof, and Tenant shall perform and observe its obligations thereunder, subject
only to the terms and conditions of the Lease.

 

4.
Acknowledgment of Acquisition Rights. Lender acknowledges that Tenant has a right of first offer (the “ROFO Purchase
Right”) under the Lease. In the event Lender becomes the owner of the Real Property by a Foreclosure Event, and so long
as an Event of Default does not exist under the Lease, Lender acknowledges that Tenant may exercise the ROFO Purchase Right and
Lender will honor the ROFO Purchase Right as long as Tenant satisfies all requirements under the Lease relating to the ROFO Purchase
Right, including the payment of the applicable acquisition price to Lender or otherwise obtains a release from Lender. Landlord
hereby agrees that any payment made to Lender under the terms of this paragraph 4 shall be deemed to have been made to Landlord
for purposes of satisfying the payment of obligations of Tenant under the Lease. Tenant acknowledges and agrees that Tenant’s
ROFO Purchase Right will not apply to any transfer of title to the Real Property to Lender or any other party in connection with
a Foreclosure Event.

 

5.
Curative Rights, Modification of Lease, and Advance Payment of Rent. So long as the First Lien Mortgage remains outstanding
and unsatisfied: (i) Tenant will mail or deliver to Lender, at the address and in the manner hereinbelow provided, a copy of all
notices required to be given to the Landlord by Tenant under and pursuant to the terms and provisions of the Lease; (ii) at any
time before the rights of the Landlord shall have been forfeited or adversely affected because of any default of the Landlord,
or within the time permitted the Landlord for curing any default under the Lease as therein provided, Lender may, but shall have
no obligation to, pay any taxes and assessments, make any repairs and improvements, make any deposits or do any other act or thing
required of the Landlord by the terms of the Lease, and all payments so made and all things so done and performed by Lender shall
be as effective to prevent the rights of the Landlord from being forfeited or adversely affected because of any default under
the Lease as the same would have been if done and performed by the Landlord; and (iii) Tenant will not consent to the modification
of the Lease, nor to the termination thereof except as expressly set forth in the Lease, without the prior written consent of
the Lender, such consent not to be unreasonably withheld, conditioned or delayed.

 

6.
Limitation of Liability. Lender shall have no liability whatsoever hereunder prior to becoming the owner of the Real Property;
and Tenant agrees that if Lender becomes the owner of the Real Property, Tenant shall look solely to the estate or interest of
Lender in the Real Property for satisfaction of any obligation which may be or become owing by Lender to Tenant hereunder or under
the Lease.

 

    	 	47	 

     

    

 

7.
Certifications. Tenant hereby certifies to Lender that, as of the date of this Agreement, the Lease has been duly executed
by Tenant and, to Tenant’s actual knowledge, Landlord, and is in full force and effect; that the Lease and any modifications
and amendments specified herein are a complete statement of the agreement between Landlord and Tenant with respect to the leasing
of the Real Property; the Lease has not been modified or amended except as specified herein; that to the actual knowledge of Tenant,
no party to the Lease is in default thereunder; that no rent under the Lease has been paid more than thirty (30) days in advance
of its due date; and that Tenant, as of this date, has no charge, lien or claim of offset under the Lease, or otherwise, against
the rents or other charges due or to become due thereunder, or if any such matter exists, then it is as follows: [NONE]

 

8.
Notices. Any notice to parties required under this Agreement shall be in writing and shall be deemed duly given and received
when delivered in person (with receipt therefor), on the next business day after deposit with a recognized overnight delivery
service, or on the second day after being sent by certified or registered mail, return receipt requested, postage prepaid, to
the following addresses:

 

	 	If
    given to Lender, as follows, subject to change as provided hereinabove: 
	 	 
	 	 	 _______________________
	 	 	 _______________________
	 	 	 _______________________
	 		Attn:
    ___________________ 

 

and,
if given to Tenant, as follows, subject to change as provided hereinabove:

 

LDRV
Holdings Corp.

6130
Lazy Days Boulevard

Seffner,
Florida 33584-2968

Attn:
Chief Financial Officer

 

With
copies to:

 

LDRV
Holdings Corp.

6130
Lazy Days Boulevard

Seffner,
Florida 33584-2968

Attn:
General Counsel

and

Hill
Ward Henderson

101
East Kennedy Blvd., Suite 3700

Tampa,
Florida 33602

Attn:
Scott W. Dibbs

 

9.
Miscellaneous. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
heirs, legal representatives, successors, successors-in-title and assigns. When used herein, the term “Landlord” or
“landlord” refers to Landlord and to any successor to the interest of Landlord under the Lease. This Agreement may
be executed in any number of counterparts.

 

    	 	48	 

     

    

 

10.
Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction,
the other provisions of this Agreement will remain in full force and effect. Any provisions of this Agreement held invalid or
unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

 

11.
Paragraph Headings; Construction. The headings of the paragraphs in this Agreement are provided for convenience only and
will not affect its construction or interpretation. All references to “paragraph” or “paragraphs” refer
to the corresponding paragraph or paragraphs of this Agreement. All words used in this Agreement will be construed to be of such
gender or number as the circumstances require. Unless otherwise expressly provided, the word “including” does not
limit the preceding words or term.

 

12.
Governing Law. This Agreement shall be governed and interpreted in accordance with the laws of the jurisdiction in which
the Real Property is located without regard to its principles of conflicts of laws, and any action brought under or arising out
of this Agreement or the matters relating hereto shall be submitted to the jurisdiction of the United States District Court for
the Middle District of Florida. Each party acknowledges and agrees to such jurisdiction.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK] 

 

[SIGNATURE
PAGES FOLLOW] 

 

    	 	49	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	 	 	LENDER:
	 	 	 
	In
    the presence of: 	 	______________________________________,
    
	 	 	 
	_____________________________________	 	 
	WITNESS
    #1	 	 	By:___________________________________
	Print
    Name: ____________________________	 	 	Name:
    _________________________________ 
	 	 	 	Title:
    ___________________________________ 
	 _____________________________________	 	 	 
	WITNESS
    #2	 	 	 
	Print
    Name: ____________________________	 	 	 

 

 

ACKNOWLEDGMENT

 

State
of ________________ )

)
ss.:

County
of ______________ )

 

BEFORE
ME, ON THIS DAY appeared __________________, the _________________ of __________________, who, being known to me to be the aforementioned
person, executed the foregoing instrument, in the presence of the above listed witnesses and he/she acknowledged the signing of
said instrument to be his/her free act and deed for the uses and purposes therein expressed.

 

SWORN
to and subscribed before me, this _____ day of ____________, 20___.

 

	 	 
	 	Notary
    Public for __________________________________
	 	My
    Commission Expires: ____________________________
	 	[SEAL]
    

 

[FIRST
LIEN SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT] 

 

[SIGNATURES
CONTINUE ON NEXT PAGE] 

 

    	 	50	 

     

    

 

	 	 	TENANT: 
	 	 	 
	In
    the presence of: 	 	LDRV HOLDINGS CORP. a Delaware corporation
	 	 	 
	 ______________________________________	 	 
	WITNESS
    #1	 	 	By:
    _________________________________________ 
	Print
    Name: _____________________________	 	 	Name:
    _______________________________________ 
	 	 	 	Title:
    ________________________________________ 
	 ______________________________________	 	 	 
	WITNESS
    #2	 	 	 
	Print
    Name: _____________________________	 	 	 

 

ACKNOWLEDGMENT

 

State
of ________________ )

)
ss.:

County
of ______________ )

 

BEFORE
ME, ON THIS DAY appeared __________________, the _________________ of LDRV HOLDINGS CORP., a Delaware corporation who, being known
to me to be the aforementioned person, executed the foregoing instrument, in the presence of the above listed witnesses and he/she
acknowledged the signing of said instrument to be his/her free act and deed for the uses and purposes therein expressed.

 

SWORN
to and subscribed before me, this _____ day of ____________, 20___.

 

	 	 
	 	Notary
    Public for __________________________________
	 	My
    Commission Expires: ____________________________
	 	[SEAL]
    

 

[FIRST
LIEN SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT] 

 

[SIGNATURES
CONTINUE ON NEXT PAGE] 

 

    	 	51	 

     

    

 

	 	 	LANDLORD: 
	 	 	 
	In
    the presence of: 	 	CARS MTI-4 L.P. a Delaware limited
    partnership
	 tw	 	 
	 _______________________________________	 	 
	WITNESS
    #1	 	By: CARS MTISPE-4, INC. a Delaware
    corporation, its General Partner
	Print
    Name: ______________________________	 	 
	 	 	 
	 _______________________________________	 	 	By:___________________________________________
	WITNESS
    #2	 	 	Name:_________________________________________
	Print
    Name: ______________________________	 	 	Title:__________________________________________

 

ACKNOWLEDGMENT

 

State
of ________________ )

)
ss.:

County
of ______________ )

 

BEFORE
ME, ON THIS DAY appeared __________________, the _________________ of CARS MTISPE-4, INC., a Delaware corporation, the General
Partner of CARS MTI-4 L.P., a Delaware limited partnership, being known to me to be the aforementioned person, executed the foregoing
instrument, in the presence of the above listed witnesses and he/she acknowledged the signing of said instrument to be his/her
free act and deed for the uses and purposes therein expressed.

 

SWORN
to and subscribed before me, this _____ day of ____________, 20___.

 

	 	 
	 	Notary
    Public for 
	 	My
    Commission Expires: 
	 	[SEAL]
    

 

[FIRST
LIEN SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT] 

 

    	 	52	 

     

    

 

EXHIBIT
A

 

(Property
ID #: LAZ-001)

 

	Tenant:	 	LDRV
    HOLDINGS CORP., a Delaware corporation
	 	 	 
	Landlord:	 	CARS
    MTI-4 L.P., a Delaware limited partnership
	 	 	 
	Lease
    Date:	 	December
    ____, 2015
	 	 	 
	Lease
    Amendments:	 	None
	 	 	 
	Property
    Name: 	 	Lazy
    Days RV Center and Resort
	 	 	 
	Property
    Address:	 	6102
    and 6130 Lazy Days Blvd. and 6210 County 
	 	 	Road
    579, Seffner, Florida

 

    	 	53	 

     

    

 

SCHEDULE
22.3

 

ESTOPPEL
CERTIFICATE 

 

To:
______________________ (“Recipient”)

 

Lease:
Lease Agreement dated ____________, 2015 (as amended, if at all, as set forth on Exhibit A, the “Lease”),
by and between _________________, a ___________________ (“Landlord”), and ____________, a ___________________
(“Tenant”), for premises located in Seffner, Florida (as more particularly described in the Lease, the
“Premises”). Any capitalized terms used but not defined herein have the meanings ascribed to such terms
in the Lease.

 

The
undersigned, as [Tenant] [Landlord] under the Lease, hereby certifies to Recipient the following:

 

	 	(1)
    	A
    true, correct and complete list of the Lease and all amendments, modifications and supplements thereto is attached as Exhibit
    A hereto. The Lease is in full force and effect and (other than approvals, consents, or waivers given by Landlord in connection
    with the Lease) has not been modified, supplemented, or amended in any way, except as set forth on Exhibit A. [For
    a Tenant Estoppel only: Tenant’s interest in the Lease has not been assigned, encumbered or otherwise transferred, nor
    have the Premises been sublet, except as follows:____________________________.] 
	 	 	 
	 	(2)	The
    Commencement Date of the Lease occurred on ______________, and the Expiration Date of the Lease is ____________________, subject
    to Tenant’s Extension Options. 
	 	 	 
	 	(3)
    	As
    of the date hereof, the monthly Base Rent and Additional Rent have been paid as required by the Lease, and no Rent has been
    paid more than one (1) month in advance of the due date, except as permitted under the Lease. 
	 	 	 
	 	(4)
    	To
    [Tenant’s] [Landlord’s] actual knowledge, [Landlord] [Tenant] has performed its obligations under the Lease in
    all material respects, and [Tenant] [Landlord] has no actual knowledge of any event that, with the giving of notice, the passage
    of time, or both, would constitute a default by [Landlord] [Tenant] under the Lease, except as follows:____________________________.
    
	 	 	 
	 	(5)
    	To
    [Tenant’s] [Landlord’s] actual knowledge, [Tenant] [Landlord] has no claim, offset, or defense against [Landlord]
    [Tenant] arising out of the Lease or against the payment of rent or other charges under the Lease or in any way relating thereto,
    except as follows:____________________________. 
	 	 	 
	 	(6)
    	Tenant
    has not paid any security deposit to Landlord in connection with the Lease. 

 

[Tenant’s]
[Landlord’s] “actual knowledge” means the current, actual knowledge of _______________________, without any
duty of investigation or inquiry. In the event of a conflict between any statement or certification in this certificate and any
provision of the Lease, the Lease provision shall control. [This estoppel certificate may be relied upon by any addressee or prospective
actual purchaser of, or lender secured by, the Premises; provided, Tenant’s certifications are made solely to estop Tenant
from asserting to or against Recipient facts or claims contrary to those stated. In the event any statement or certification by
Tenant in this certificate proves inaccurate, Tenant shall be estopped from taking a position contrary to the inaccurate statement
or certification, but Tenant shall not be subject to any damages or liability for such inaccuracy, except in the event of fraud
or intentional misrepresentation by Tenant.]

 

	 	By:
    _______________________________ 
	 	Name:
    _____________________________ 
	 	Title:
    ______________________________ 
	 	Date
    signed: ________________________ 

 

    	 	54	 

     

    

 

SCHEDULE
22.18

 

This
instrument was prepared by and

should
be returned to: 

 

	 ______________________	 
	 ______________________	 
	 ______________________	 
	 ______________________	 

 

MEMORANDUM
OF LEASE 

 

THIS
MEMORANDUM OF LEASE (the “Memorandum”) is executed effective as of ______________, 2015, by and
between CARS MTI-4 L.P., a Delaware limited partnership, whose address is c/o Capital Automotive Real Estate Services,
Inc., 8270 Greensboro Drive, Suite 950, McLean, Virginia 22102 (“Landlord”), and LDRV HOLDINGS CORP.,a
Delaware corporation, whose address is 6130 Lazy Days Boulevard, Seffner, Florida 33584-2968 (“Tenant”).

 

Background

 

A.
       Landlord is the owner in fee simple of certain real property located in Seffner, Hillsborough
County, Florida, more particularly described on Exhibit A attached hereto and made a part hereof by this reference
(the “Premises”).

 

B.
       Landlord and Tenant have entered into that certain Lease Agreement (the “Lease”),
with dated as of _________, 2015, pursuant to which Tenant has leased the Premises from Landlord. All capitalized terms not defined
in this Memorandum shall have the same meanings as set forth in the Lease.

 

Operative
Terms 

 

Landlord
and Tenant hereby agree as follows:

 

1.
Term. Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, on the terms and conditions
set forth in the Lease, for a term (the “Term”) commencing on ____________, 2015, and expiring on ___________,
2035. Tenant has three (3) options to renew and extend the Term of the Lease for ten (10) years each, on the terms and conditions
set forth in the Lease.

 

2.
Right of First Offer. During the Term, Tenant has an exclusive and irrevocable right of first offer to purchase
the Premises, on and subject to the terms and conditions of the Lease.

 

3.
Liens; Section 713.10. The Lease contains the following language: “Tenant has no authority or power to cause
or permit any lien or encumbrance of any kind whatsoever, whether created by act of Tenant, operation of law or otherwise, to
attach to or be placed upon Landlord’s title or interest in the Premises or any portion thereof, and any and all liens and
encumbrances created by Tenant shall attach to Tenant’s interest only.”

 

4.
Capitalized Terms. All capitalized terms not otherwise defined in this Memorandum shall have the meaning ascribed
thereto in the Lease.

 

5.
Successors. The covenants, conditions, and agreements made and entered into by the parties hereto shall be binding
upon and inure to the benefits of their respective heirs, administrators, executors, representatives, successors, and assigns.

 

6.
Incorporation of Lease. All terms and conditions of the Lease are hereby incorporated herein by reference as if
fully set forth herein.

 

7.
Purpose. This Memorandum is prepared for the purpose of recordation only and in no way modifies the provisions of
the Lease. In the event of any inconsistency between the provisions of this Memorandum and the provisions of the Lease, the provisions
of the Lease shall prevail.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    	 	55	 

     

    

 

SIGNATURE
PAGE TO MEMORANDUM OF LEASE

 

	WITNESSES:	 	LANDLORD:
	 	 	 
	 	 	CARS MTI-4 L.P. a Delaware
    limited partnership
	_______________________________________	 	 
	Name:
    __________________________________ 	 	 	 
	 _______________________________________	 	
	 	 	 	By:
    CARS MTISPE-4, INC.
	 _______________________________________	 	 	a
    Delaware corporation
	Name:
    __________________________________ 	 	 	its
    General Partner
	 	 	 	 
	 	 	 	By:____________________________________
	 	 	 	Name:__________________________________
	 	 	 	Title:
    __________________________________ 

 

STATE
OF _____________________ )

COUNTY
OF ______________ )

 

The
foregoing instrument was acknowledged before me this _____ day of _________________________, 2015, by ________________________________
as ________________________________ of _______________________________________, a(n) ______________________, on behalf of said
____________________. He/She [  ] is personally known to me or [  ] produced _______________________ as identification.

 

	 	 	 __________________________________________
	 	 	NOTARY
    PUBLIC
	 	 	Printed
    Name: ________________________________
	(Notary
    Seal)	 	Commission
    No.:______________________________
	 	 	My
    Commission Expires:________________________

 

	 	 	TENANT:
    
	 	 	 
	 	 	LDRV
    HOLDINGS CORP., a Delaware
	 	 	corporation
	 	 	 
	______________________________________	 	By:__________________________________
	Name:
    _________________________________	 	Name:
    _______________________________
	 	 	Title:
    ________________________________
	______________________________________	 	 
	Name:
    _________________________________	 	Date:
    ________________________________

 

    	 	56	 

     

    

 

STATE
OF ____________________)

COUNTY
OF ______________ )

 

The
foregoing instrument was acknowledged before me this _____ day of _________________________, 2015, by ________________________________
as ________________________________ of LDRV HOLDINGS CORP., a Delaware corporation, on behalf of said corporation. He/She
c is personally known to me or c produced _______________________ as identification.

 

	 	 	 
	 	 	NOTARY
    PUBLIC
	 	 	Printed
    Name: _________________________________
	(Notary
    Seal)	 	Commission
    No.:_______________________________
	 	 	My
    Commission Expires:

 

    	 	57	 

     

    

 

SCHEDULE
22.19 

 

LANDLORD
WAIVER

 

The
undersigned is owner of that certain real property commonly known as _________________________________ (the “Real Property”).

 

_____________________
(“Lender”) has agreed to extend certain financial accommodations to _____________________ (the “Borrower”)
and, as security therefore, will require the Borrower to execute a security agreement granting to Lender a security interest in
and to the personal property collateral described therein (the “Personal Property”). The Personal Property
may include machinery, equipment, furniture, fixtures, inventory, and other goods, some or all of which may now or hereafter be
located on the Real Property.

 

In
order to induce Lender to extend credit to the Borrower, and in consideration of such extension of credit, the undersigned agrees
as follows:

 

	1	The
    Personal Property shall be deemed to be personal property and shall not be considered a part of the Real Property, and shall
    not be permanently attached or affixed to the Real Property. 
	 	 
	2	To
    the extent the undersigned has any interest in or lien on the Personal Property, the undersigned hereby subordinates such
    interest or lien to the security interest which Lender now has or may hereafter acquire in the Personal Property. 
	 	 
	3	The
    undersigned consents to Lender, its agents, employees and invitees entering upon the Real Property during the lease term,
    or any extensions or renewals thereof, whether contractually, by operation of law, or otherwise for the purpose of exercising
    any right Lender may have under the terms of the security agreement or otherwise, and to remove the Personal Property; provided,
    however, that Lender shall repair any physical damage to the Real Property caused by its removal of the Personal Property.
    

 

Except
to the extent that any law of the United States may apply, this Agreement shall be governed and interpreted according to the laws
of Florida, without regard to any choice of law, rules or principles to the contrary. Nothing in this paragraph shall be construed
to limit or otherwise affect any rights or remedies of Lender under federal law.

 

    	 	58	 

     

    

 

Dated:
______________ ___, 20__.

 

	 	LANDLORD: 
	 	 
	 	CARS MTI-4 L.P., a Delaware
    limited partnership
	 	 	 
	 	 	By:
    	CARS
    MTISPE-4, INC. 
	 	 	 	a
    Delaware corporation 
	 	 	 	its
    General Partner 
	 	 
	 	 		By:
    ___________________________________
	 	 		Name:_________________________________
	 	 		Title:__________________________________

 

    	 	59LEASE
AGREEMENT

 

between

 

Chambers
3640, LLC

 

as
Landlord

 

and

 

Lazydays
Mile HI RV, LLC

 

as
Tenant

 

    	 

     

    

 

LEASE
AGREEMENT

 

THIS
LEASE AGREEMENT (this “Lease”) is entered into as of November 11, 2015, by and between Chambers 3640, LLC a
Colorado limited liability company (“Landlord”), and Lazydays Mile Hi RV, LLC, a Delaware limited liability
company (“Tenant”).

 

1.
BASIC LEASE TERMS.

 

1.1
Premises, Buildings and Improvements.

 

(a)
“Premises” means the Land and all Improvements located thereon.

 

(b)
“Land” means the real property legally described on Exhibit A attached hereto.

 

(c)
“Building” means that certain commercial building located on the Land containing approximately 11,950 rentable
square feet of space currently operated as a recreational vehicle dealership with a street address of 3610-3640 N. Chambers Road,
Aurora, Colorado 80011.

 

(d)
“Improvements” means the Building and any other buildings, structures, pavement, lighting fixtures or other
improvements now or later constructed or installed upon the Land.

 

1.2
Effective Date; Term; Commencement Date.

 

(a)
“Effective Date” means the closing date under that certain Amended and Restated Asset Purchase Agreement dated
as of November 11, 2015 (the “APA”) by and among (i) LDRV Holdings Corp., a Delaware corporation, (ii) each
of Lazydays RV America, LLC, a Delaware limited liability company, Lazydays RV Discount, LLC, a Delaware limited liability company,
and Lazydays Mile Hi RV, LLC, a Delaware limited liability company; (iii) each of R.V. America The Marketplace, Inc., a Colorado
corporation, DS, Inc., a Colorado corporation, and Mile Hi RV Center, Inc., a Colorado corporation, and (iv) each of Hari Sachanandani
and Doris Sachanandani. In the event the APA is terminated and closing does not occur thereunder, this Lease shall automatically
terminate effective as of the termination date of the APA.

 

(b)
“Term” means the duration of this Lease, which shall be approximately five years, beginning on the Commencement
Date and ending on the Expiration Date, unless terminated earlier or extended further as provided in this Lease, together with
any properly exercised Renewal Term (as defined in Section 3.3(a) below).

 

(c)
“Commencement Date” means the first day of the Term, which shall be the Effective Date.

 

(d)
“Expiration Date” means the five-year anniversary of the last day of the month in which the Commencement Date
occurs.

 

    	 

     

    

 

1.3
Base Rent.

 

(a)
“Base Rent” means the Rent payable according to Section 5.1 during each Lease Year of the Term as follows:

 

	Lease Year(s)	 	Annual Base Rent	 	 	Monthly Base Rent	 
	1-5	 	$	300,000.00	 	 	$	25,000.00	 

 

(b)
“Lease Year” means each successive period of 12 calendar months during the Term, ending on the same day and
month (but not year, except in the case of the last Lease Year) as the day and month on which the Expiration Date will occur.
If the Commencement Date is not the first day of a month, the first Lease Year will be greater than 12 months by the number of
days from the Commencement Date to the last day of the month in which the Commencement Date occurs.

 

1.4
Addresses.

 

	 	(a)	“Landlord’s
    Notice Address” means:
	 	 	 
	 	 	320
    Starfire Way,
	 	 	Golden,
    Colorado 80401
	 	 	Attention:
    Hari Sachanandani
	 	 	 
	 	 	with
    a copy (which will not constitute notice to Landlord) to:
	 	 	 
	 	 	Vedra
    Wali LLC
	 	 	1435
    Larimer Street, Suite 302
	 	 	Denver,
    Colorado 80202
	 	 	Attention:
    Daniel J. Vedra

 

	 	(b)	“Tenant’s
    Notice Address” means:
	 	 	 
	 	 	c/o
    Lazydays
	 	 	6130
    Lazydays Boulevard
	 	 	Seffner,
    Florida 33584
	 	 	Attention:
    Randy Lay
	 	 	 
	 	 	with
    a copy (which will not constitute notice to Tenant) to:
	 	 	 
	 	 	Holland
    & Hart LLP
	 	 	555
    17th Street, Suite 3200
	 	 	Denver,
    CO 80202
	 	 	Attention:
    Matthew Ochs, Esq.

 

2.
EXHIBITS; DEFINITIONS.
The Exhibits attached hereto are incorporated into this Lease. In the event of any inconsistency between such Exhibits and the
terms and provisions of this Lease, the terms and provisions of the Exhibits will control. All capitalized terms not defined in
the body of this Lease shall have the meaning given to such terms in Exhibit B attached hereto and incorporated herein
by this reference.

 

    	2

     

    

 

3.
GRANT OF LEASE; RENEWAL OPTIONS.

 

3.1
Demise. Subject to the terms, covenants, conditions and provisions of this Lease, Landlord leases to Tenant and Tenant leases
from Landlord the Premises for the Term, together with exclusive ingress and egress rights to and from the Land.

 

3.2
Memorandum of Lease. After the occurrence of the Commencement Date, either party will, upon the other’s request, execute
and acknowledge a recordable memorandum setting forth a reference to this Lease, the parties’ names, the legal description
of the Land, the date on which the Commencement Date occurred, the date on which the Expiration Date is scheduled to occur and
statement summarizing Tenant’s rights and other terms of this Lease, in substantially the form attached hereto as Exhibit
C (the “Memorandum”). Following mutual execution of the same, Tenant shall cause such Memorandum to be
recorded in the Clerk and Recorder’s Office of Adams County, Colorado, at Tenant’s expense.

 

3.3
Tenant’s Renewal Options.

 

(a)
Grant of Rights. Tenant, at its option, may extend the Term of this Lease for a period of five years at the end of the
initial Term (the “First Renewal Term”) with respect to the Premises as it exists as of the last day of the
Term (the “First Renewal Option”). If Tenant exercises the First Renewal Option, Tenant may further extend
the Term of this Lease for another period of five years at the end of the First Renewal Term (the “Second Renewal Term”)
with respect to the Premises as it exists as of the last day of the First Renewal Term (the “Second Renewal Option”).
If Tenant exercises the Second Renewal Option, Tenant may further extend the Term of this Lease for another period of five years
at the end of the Second Renewal Term (the “Third Renewal Term”) with respect to the Premises as it exists
as of the last day of the Second Renewal Term (the “Third Renewal Option”). If Tenant exercises the Third Renewal
Option, Tenant may further extend the Term of this Lease for another period of five years at the end of the Third Renewal Term
(the “Fourth Renewal Term”) with respect to the Premises as it exists as of the last day of the Third Renewal
Term (the “Fourth Renewal Option”). The First Renewal Term, the Second Renewal Term, the Third Renewal Term,
and the Fourth Renewal Term will be referred to individually as a “Renewal Term” or, collectively, as the “Renewal
Terms.” The First Renewal Option, the Second Renewal Option, the Third Renewal Option, and the Fourth Renewal Option
will be referred to individually as a “Renewal Option.”

 

(b)
Exercise. To exercise any such Renewal Option, Tenant must deliver notice of the exercise thereof (a “Renewal
Notice”) to Landlord no earlier than 12 months and no later than six months prior to the expiration of the initial Term,
with respect to the exercise of the First Renewal Option, and prior to the expiration of any then-current Renewal Term, with respect
to the exercise of any other Renewal Option.

 

    	3

     

    

 

(c)
After Exercise. During each Renewal Term, all of the terms and provisions of this Lease will apply, except that (i) after
the Fourth Renewal Term there will be no further right of renewal; and (ii) commencing with lease year 6 of the First Renewal
Term, annual Base Rent during each Renewal Term shall increase every two years by the greater of (A) the annual Base Rent payable
during the immediately prior initial two years, as applicable, multiplied by 1.02, or (B) the annual Base Rent payable during
the immediately prior initial Term or Renewal Term, as applicable, multiplied by a fraction, the numerator of which is the Index
(as hereinafter defined) published most immediately preceding the first month of the current Renewal Term, and the denominator
of which is the Index published most recently preceding the first month of the immediately prior initial Term or Renewal Term,
as applicable.

 

For
purposes of this Section, the “Index” shall mean the Consumer Price Index, All Urban Consumers, Denver-Boulder-Greeley
Statistical Area, published by the United States Department of Labor, Bureau of Labor Statistics (1982-84 = 100). If the Index
is discontinued or revised during any Renewal Term, such other government Index or computation with which it is replaced shall
be used in order to obtain substantially the same result as would be obtained if the Index had not been discontinued or revised.

 

(d)
Limitations on Tenant’s Rights. Tenant will have no right to extend the Term, and Tenant’s Renewal Notice will
be ineffective, if an uncured Event of Default exists at the time a Renewal Notice is given or at the time the applicable Renewal
Term is scheduled to commence. Any assignment of this Lease or subletting of the Premises by Tenant (except in connection with
a Permitted Transfer, as defined in Section 12.2 below) terminates Tenant’s rights under this Section 3.3, unless Landlord
consents to the contrary in writing at the time of such subletting or assignment.

 

4.
COVENANT OF QUIET ENJOYMENT.
Landlord covenants that so long as no Event of Default (as defined in Section 17.2 below) exists, Tenant will have quiet and peaceful
possession of the Premises during the Term, and such possession will not be disturbed by Landlord or anyone claiming by, through
or under Landlord.

 

5.
RENT; NET LEASE.

 

5.1
Base Rent. Commencing on the Commencement Date and continuing throughout the Term, Tenant agrees to pay Landlord Base Rent
according to the following provisions of this Section 5. Base Rent during each Lease Year of the applicable Term will be payable
in monthly installments in the amount set forth in the definition of Base Rent in Section 1.3(a), in advance, on or before the
first day of each and every month during the Term. However, if the Commencement Date occurs on other than the first day of a month
or if the Term ends on other than the last day of a month, Landlord will prorate Base Rent for such month based upon the ratio
of the number of the days of the Term within such month to the total number of days in such month.

 

5.2
Terms of Payment. All Base Rent will be paid to Landlord in lawful money of the United States of America, at Landlord’s
Notice Address or to such other person or at such other place as Landlord may from time to time designate in writing, without
notice or demand and without right of deduction, abatement or setoff, except as otherwise expressly provided in this Lease. Except
as otherwise expressly provided in this Lease, Tenant’s covenants to pay Base Rent and Additional Rent are independent of
any other covenant, condition, provision or agreement contained herein.

 

    	4

     

    

 

5.3
Net Lease. It is the intent of the parties that the Base Rent provided in this Lease will be a net payment to Landlord and
that, during the Term, Landlord will not be required to pay any costs or expenses or provide any services in connection with the
Premises and Tenant will bear all costs and expenses relating to the Premises, except as expressly set forth herein. Accordingly,
Tenant covenants and agrees to pay, in addition to Base Rent, directly to the applicable taxing authority, supplier, provider,
insurer or other party all costs and expenses relating to the Premises which accrue during or are allocable to the Term, including,
without limitation: Taxes and other assessments according to Section 6, the cost of all utilities consumed at the Premises according
to Section 8, the cost of all repairs and maintenance required to be performed by Tenant according to Section 9, and the premiums
for the insurance required to be maintained by Tenant pursuant to Section 10.

 

6.
TAXES AND ASSESSMENTS.

 

6.1
Payment of Taxes. Except as provided in Section 6.3 below, Tenant will pay before delinquency, directly to the taxing authority,
all Taxes for the Premises which accrue during or are attributable to any part of the Term. Within 15 days after Landlord’s
written request, Tenant will provide Landlord with evidence of Tenant’s payment of Taxes for the Premises for the most recent
Tax Year for which Taxes have been paid. Landlord will use reasonable efforts to have the real property tax bills for the Premises
issued directly to Tenant, but if Landlord is unable to do so, Landlord will promptly forward all such bills directly to the address
to which Landlord is then required to send notices to Tenant. Landlord represents and warrants that the Premises consist of one
or more legal, separate tax parcels. Notwithstanding the foregoing, in the event the Premises is a part of a larger tax parcel,
Landlord shall be responsible for the payment of Taxes for such tax parcel to the applicable taxing authority, and Tenant shall
reimburse Landlord for its proportionate share of such Taxes within 15 days after receipt of an invoice from Landlord, together
with evidence of payment of such Taxes, and Tenant’s proportionate share shall be determined based upon the total acreage
or square footage of the Premises as compared to the acreage or square footage of the larger tax parcel.

 

In
the event Tenant shall fail to pay any Taxes when due as required hereunder, Landlord shall have the right, but not the obligation,
to do so, and Tenant shall reimburse Landlord for any and all costs and expenses incurred in connection therewith, including interest
at the rate of twelve percent (12%) per annum, for the sum so paid, within ten (10) days after written demand by Landlord; provided,
however, Landlord may not pay such Taxes and demand reimbursement in the event such Taxes are being contested by Tenant in accordance
with Section 6.4 below, or such Taxes are payable in installments which are not yet due or payable.

 

6.2
Proration at Beginning and End of Term. If the Commencement Date occurs on other than the first day of a Tax Year or if the
Term expires or otherwise terminates on other than the last day of a Tax Year, Taxes for the Tax Year in which the Commencement
Date occurs or in which the Term ends, as the case may be, will be prorated between Landlord and Tenant, based on the most recent
levy and most recent assessment. Such proration will be subsequently adjusted when the actual bills become available for Taxes
for the Tax Year for which Taxes were prorated. The parties’ obligations under this Section 6 will survive the expiration
of the Term or other termination of this Lease.

 

6.3
Special Assessments. Tenant will pay, as Taxes, all special assessments and other like impositions; provided, however, that
Tenant may pay in installments any such special assessments or like impositions that may be so paid according to applicable Laws
and, in such event, Tenant will only be required to pay those installments of any such assessments or impositions that are assessed
or imposed for periods of time from the Commencement Date to the end of the Term and with proration, as provided in Section 6.2
above, of any installment that covers both a period of time prior to the Commencement Date and a period of time after the Commencement
Date, or a period of time prior to the end of the Term and a period of time after the end of the Term.

 

    	5

     

    

 

6.4
Tax Contests. Tenant will have the right to contest any Taxes payable by Tenant; provided, however, that Tenant will make
timely payment of the contested Taxes notwithstanding the pendency of any such contest unless applicable Laws permit the withholding
of payment without delinquency, in which case Tenant may withhold payment of the contested Taxes until such time as payment thereof
(or of such Taxes as the same may be reduced by such contest) is required to be made by applicable Laws in order to avoid delinquency.
Tenant will notify Landlord within 10 days of the commencement of any such contest. So long as Tenant complies with the terms
of this Section 6.4, Tenant will have the right, in connection with any such contest, at its sole expense, to institute and prosecute,
in good faith and with due diligence and in Landlord’s name if necessary, any appropriate proceedings, and Landlord will,
at Tenant’s expense, fully cooperate with Tenant’s efforts to contest any such Taxes or special assessments.

 

7.
USE, OCCUPANCY AND COMPLIANCE.

 

7.1
Use. Tenant may use the Premises for the operation of a recreational vehicle dealership, and for such other ancillary uses
as may be necessary or desirable in connection with Tenant’s business operations at the Premises, including, without limitation
vehicle and related storage, vehicle servicing, vehicle rentals, administrative and office activities (collectively, the “Permitted
Use”). Tenant will not use the Premises for any purposes prohibited by Laws. Tenant will not keep anything on or about
the Premises which would invalidate any insurance policy required to be carried on the Premises by Tenant pursuant to this Lease.

 

7.2
Compliance. Tenant will comply with all Laws applicable to the use and occupancy of the Premises during the Term and will
keep and maintain the Premises in a condition that is in compliance with all applicable Laws.

 

7.3
Hazardous Substances.

 

(a)
Environmental Covenants.

 

(i)
Tenant. Tenant covenants and agrees that Tenant and its employees, agents and contractors: (A) shall keep or cause the
Premises to be kept free from Hazardous Substances (except those substances used by Tenant in the Ordinary Course of Business);
(B) shall not engage in and shall expressly prohibit all occupants of the Premises from engaging in the use, generation, handling,
storage, production, processing or management of Hazardous Substances in or on the Premises, except in the Ordinary Course of
Business and in material compliance with all Environmental Laws; (C) shall not cause or allow and shall expressly prohibit the
Release of Hazardous Substances at, on, under or from the Premises; (D) shall comply and shall expressly require all other persons
who may come upon the Premises to comply with all Environmental Laws; and (E) shall keep the Premises free and clear of all liens
and other encumbrances imposed pursuant to any Environmental Law (“Environmental Liens”) due to any act or
omission of Tenant or any of its employees, agents or contractors. Any Hazardous Substances will at all times be properly contained
while on the Premises and properly disposed of, in all cases using commercially prudent and reasonable procedures and properly
maintained equipment that meets or exceeds the then-current industry standard and in a manner that does not negatively affect
or otherwise compromise the environmental condition of the Premises or any surrounding areas.

 

    	6

     

    

 

(ii)
Landlord. Landlord covenants and agrees that Landlord and its employees, agents and contractors: (A) shall not engage in
the use, generation, handling, storage, production, processing or management of Hazardous Substances in or on the Premises, except
in the Ordinary Course of Business and in compliance with all Environmental Laws; (B) shall not cause or allow the Release of
Hazardous Substances at, on, under or from the Premises; (C) shall comply with all Environmental Laws in connection with its activities
relating to the Premises; and (D) shall keep the Premises free and clear of all Environmental Liens due to any act or omission
of Landlord or any of its employees, agents or contractors. Any Hazardous Substances will at all times be properly contained while
on the Premises and properly disposed of, in all cases using commercially prudent and reasonable procedures and properly maintained
equipment that meets or exceeds the then-current industry standard and in a manner that does not negatively affect or otherwise
compromise the environmental condition of the Premises or any surrounding areas.

 

(b)
Notice and Access.

 

(i)
Tenant. Tenant shall promptly notify Landlord in writing if Tenant has actual knowledge that there is or are, as a result
of the actions of Tenant, its employees, agents or contractors, (A) any Hazardous Substances present on the Premises, other than
those used by Tenant or Landlord at the Premises in the Ordinary Course of Business and in material compliance with all Environmental
Laws; (B) any Release of Hazardous Substances in, on, under, from or migrating towards the Premises; (C) any material non-compliance
with Environmental Laws related in any way to the Premises; (D) any actual or potential Environmental Liens on or relating to
the Premises; and (E) any investigation or action or claim, whether threatened or pending, by any governmental agency or third
party pertaining to the Release of Hazardous Substances in, on, under, from or migrating towards the Premises.

 

(ii)
Landlord. Landlord shall promptly notify Tenant in writing if Landlord has actual knowledge that there is or are (A) any
Hazardous Substances present on the Premises, other than those used by Landlord at the Premises in the Ordinary Course of Business
and in material compliance with all Environmental Laws; (B) any Release of Hazardous Substances in, on, under, from or migrating
towards the Premises; (C) any material non-compliance with Environmental Laws related in any way to the Premises; (D) any actual
or potential Environmental Liens on or relating to the Premises; and (E) any investigation or action or claim, whether threatened
or pending, by any governmental agency or third party pertaining to the Release of Hazardous Substances in, on, under, from or
migrating towards the Premises.

 

    	7

     

    

 

(iii)
Clean Up. Tenant shall promptly, at Tenant’s sole cost and expense, take all legally required actions with respect
to any Release or threat of Release of any Hazardous Substances on, in, under or affecting all or any portion of the Premises
or any surrounding areas caused by Tenant or its employees, agents or contractors, including all investigative, monitoring, removal,
containment and remedial actions in accordance with all applicable Environmental Laws, including the payment, at no expense to
Landlord Indemnified Parties, of all clean-up, administrative and enforcement costs of applicable governmental agencies which
are legally required to (A) comply with all applicable Environmental Laws; (B) protect human health or the environment; (C) allow
continued use, occupation or operation of the Premises; and/or (D) maintain fair market value of the Premises (collectively, the
“Completion of the Clean-up”). In the event Tenant fails to do so, Landlord may, but shall not be obligated
or have any duty to, cause the Completion of the Clean-up of the Premises, and the costs incurred by Landlord in connection therewith
shall be payable by Tenant on demand as Additional Rent, which shall include Landlord’s reasonable professional fees (including
reasonable attorneys’ fees and costs). Tenant hereby grants to Landlord Indemnified Parties and their agents and employees
access to the Premises as provided in this Section 7.3, and a license to remove any items deemed by Landlord Indemnified Parties
to be necessary to cause the Completion of the Clean-up of the Premises.

 

(c)
Indemnification.

 

(i)
Tenant. Tenant covenants and agrees, at Tenant’s sole cost and expense, to indemnify, defend and hold Landlord Indemnified
Parties harmless from and against any and all liens, damages, losses, liabilities, obligations, settlement payments, penalties,
claims, judgments, suits, proceedings, costs, damages, disbursements or expenses of any kind or of any nature whatsoever (including
reasonable attorneys’, consultants’ and experts’ fees and disbursements actually incurred in investigating,
defending, settling or prosecuting any claim, litigation or proceeding) (collectively, “Claims”) which may
at any time be imposed upon, incurred by or asserted against Landlord Indemnified Parties or the Premises, and arising directly
or indirectly from or out of: (A) the presence, Release or threat of Release of any Hazardous Substances on, in, under or affecting
all or any portion of the Premises or any surrounding areas caused by Tenant or its employees, agents or contractors; (B) the
violation of any Environmental Laws, relating to or affecting the Premises or the operation thereof caused by Tenant or its employees,
agents or contractors; (C) the failure by Tenant to comply fully with the terms and conditions of this Section 7.3; and/or (D)
the enforcement of this Section 7.3.

 

(ii)
Landlord. Landlord covenants and agrees, at Landlord’s sole cost and expense, to indemnify, defend and hold Tenant
Indemnified Parties harmless from and against any and all Claims which may at any time be imposed upon, incurred by or asserted
against Tenant Indemnified Parties, and arising directly or indirectly from or out of: (A) the past, present or future presence,
Release or threat of Release of any Hazardous Substances on, in, under or affecting all or any portion of the Premises or any
surrounding areas caused by Landlord or its employees, agents or contractors; (B) the violation of any Environmental Laws, relating
to or affecting the Premises or the operation thereof caused by Landlord or its employees, agents or contractors; (C) the failure
by Landlord to comply fully with the terms and conditions of this Section 7.3; and/or (D) the enforcement of this Section 7.3.

 

    	8

     

    

 

(d)
Site Visits, Observation and Testing. Landlord and its agents and representatives shall have the right at any reasonable
time to enter and visit the Premises for the purposes of observing the Premises, confirming that Tenant is meeting the requirements
set forth in the definition of Ordinary Course of Business, taking and removing soil or groundwater samples, and conducting tests
on any part of the Premises, all at Landlord’s sole cost. Landlord has no duty, however, to visit or observe the Premises
or to conduct tests. Landlord shall give Tenant reasonable notice before entering the Premises, shall permit a representative
of Tenant to be present during such entry by Landlord, and shall make reasonable efforts to avoid interfering with Tenant’s
use of the Premises in exercising any rights provided in this Section 7.3(d). In addition, upon Tenant’s request Landlord
will deliver to Tenant a copy of any test or report generated as a result of any entry by Landlord onto the Premises (provided
that Landlord will not be responsible for the accuracy of any such test or report nor for causing any consultant conducting such
test or preparing such report to permit Tenant to rely on such test or report).

 

(e)
Representations and Warranties by Landlord. Landlord represents and warrants to Tenant that as of the Effective Date, to
the knowledge of Landlord, (i) there are no Hazardous Substances present on the Premises, other than those used by Landlord at
the Premises in the Ordinary Course of Business and in material compliance with all Environmental Laws; (ii) there has not occurred,
nor is there presently occurring, a Release or threatened Release of any Hazardous Substance on, into or beneath the surface of
Land, the Premises or any surrounding areas; (iii) the Premises are in compliance with all Environmental Laws; (iv) there are
no Environmental Liens on or relating to the Premises; (v) there are no investigations or actions or claims, whether threatened
or pending, by any governmental agency or third party pertaining to the Release of Hazardous Substances in, on, under, from or
migrating towards the Premises; and (vi) there are not now nor have there ever been any underground or above ground storage tanks
located on or above the Land during the time of Landlord’s ownership of the same.

 

(f)
Survival. The parties’ obligations under this Section 7.3 will survive the expiration of the Term or other termination
of this Lease.

 

7.4
Compliance with Laws. Landlord, at its expense, shall cause the Premises to comply with all applicable Laws as of the Effective
Date, and Landlord shall otherwise comply with all applicable Laws during the Term, and in the event any work is performed on
the Premises by, through or under Landlord, Landlord will cause such work to be designed and constructed in compliance with applicable
Laws.

 

7.5
Signage. Tenant may erect, maintain or replace from time to time upon the Premises, at Tenant’s cost, signage on or
in the Premises and/or the Land, provided that all of such signs and signage are in compliance with applicable Laws.

 

8.
UTILITIES.

 

8.1
Payment; Interruption of Services. Tenant will pay for all electricity, gas, water, sewer or other utility service provided
to the Premises or required by Tenant from and after the Commencement Date. Unless caused by the negligence or willful misconduct
of Landlord, its employees, agents or contractors, Landlord will not be liable in damages or otherwise, nor will there be an abatement
of Rent, if the furnishing by any supplier of any utility service or other service to the Premises is interrupted or impaired
by fire, accident, riot, strike, act of God, the making of necessary repairs or improvements, or by any causes beyond Landlord’s
reasonable control.

 

    	9

     

    

 

9.
REPAIRS AND MAINTENANCE.

 

9.1
Tenant’s Obligations. During the Term, Tenant will, at its expense:

 

(a)
maintain, repair and replace as necessary all interior portions of the Improvements, including, without limitation, all floors,
ceilings and fixtures and all interior doors, as well as all exterior landscaped areas on the Land, in a good, clean, safe, orderly
and sanitary condition, ordinary wear and tear excepted;

 

(b)
repair, maintain and replace all HVAC systems, ducts, controls and appurtenances thereto that serve the Building;

 

(c)
repair, maintain and replace all utility systems, lines, conduits and appurtenances thereto that serve the Premises;

 

(d)
keep any garbage, trash, rubbish or refuse removed on a regular basis and temporarily stored on the Premises in accordance with
applicable Laws; and

 

(e)
if applicable, provide such janitorial services and such snow and ice removal from the paved areas on the Land as may be required
by Laws or otherwise necessary for the operation of Tenant’s business.

 

Without
limiting the foregoing, as between Landlord and Tenant, except to the extent expressly set forth to contrary in Section 9.2 or
elsewhere in this Lease, Tenant will be responsible for all ordinary, extraordinary, non-structural, foreseen and unforeseen maintenance,
repairs and replacements to the interior of the Improvements and all portions of the Premises during the Term.

 

9.2
Landlord’s Obligations. During the Term, Landlord will, at its expense, maintain,
repair and replace, as necessary, all structural elements of the Building, including all exterior walls, roofs, and foundations.

 

9.3
Maintenance Procedures.

 

(a)
Tenant’s Procedures. Throughout the Term, Tenant will use industry-standard practices in terms of periodic maintenance,
repair and replacement of the Premises, the components thereof and the equipment therein, and Tenant will maintain accurate and
reasonably complete records of such maintenance, repair and replacement. Nothing will prohibit Tenant from performing such maintenance,
repair and/or replacement using Tenant’s employees as long as such employees are reasonably qualified to perform the applicable
tasks and Tenant otherwise complies with applicable Laws and warranties.

 

    	10

     

    

 

(b)
Landlord’s Inspection Rights. Landlord, or its designated representative, may enter the Premises upon reasonable
prior notice to Tenant to inspect the Premises to confirm Tenant’s compliance with its obligations under this Section 9
as to the actual maintenance, repair and replacement and also as to Tenant’s records relating thereto, all without liability
to Tenant for any loss or damage incurred as a result of such entry (unless caused by the gross negligence or willful misconduct
of Landlord or its designated representative), provided that Landlord will take reasonable steps in connection with such entry
to minimize any disruption to Tenant’s business or its use of the Premises. During any such entry, all individuals brought
into the Premise shall be accompanied by a representative of Tenant and, subject to reasonable scheduling, Tenant will make available
to Landlord Tenant’s representative who is primarily responsible for such maintenance, repair and replacement in connection
with such inspections.

 

(c)
Tenant’s Failure. If Landlord determines, in its reasonable discretion, that Tenant has failed to perform such maintenance,
repair and replacement practices, Landlord, at its option, may notify Tenant of such failure, which notice will expressly set
forth the basis for Landlord’s determination and the actions that Landlord will require to be taken to rectify such failure.
If Tenant fails to rectify such failure within 30 days from receipt by Tenant of Landlord’s notice, Landlord may arrange
for a third party to perform such maintenance, repair and/or replacement on any portion of the Premises, in which event Tenant
will permit the applicable party to enter upon the Premises to perform the same, subject to Section 15.2, and the reasonable cost
of such maintenance, repair and/or replacement will be billed directly to Tenant and will be Additional Rent, payable within 30
days of receipt of invoice therefor, together with documentation of such costs and payment thereof by Landlord.

 

10.
INSURANCE, WAIVERS AND INDEMNITY.

 

10.1
Property Insurance.

 

(a)
Tenant’s Property Insurance. Commencing on the Commencement Date and continuing throughout the Term, Tenant will,
at its expense, provide and maintain special form (formerly known as all risk) property insurance, including fire and standard
extended coverage perils, boiler and machinery perils, leakage from fire protective devices and other water damage (“Special
Form Insurance”) covering loss or damage to all Tenant-Insured Improvements (as hereinafter defined) on a full replacement
cost basis, excluding excavations, footings and foundations. As used herein, “Tenant-Insured Improvements”
means, collectively, (i) all of Tenant’s Property, (ii) all fixtures and equipment constructed or installed in the Premises
by Tenant, on behalf of Tenant, or at Tenant’s request, (iii) all Alterations, including Minor Alteration (as such terms
are defined in Section 11.1 below) for which Landlord has issued a Removal Notice (as defined in Section 11.2 below), and (iv)
all Unauthorized Alterations (as defined in Section 11.2 below).

 

(b)
Landlord’s Property Insurance. Commencing on the Commencement Date and continuing throughout the Term, Landlord will
provide and maintain Special Form Insurance covering loss or damage to the Land and to the core and shell of the Improvements
on a full replacement cost basis. Landlord’s property insurance maintained pursuant to this paragraph shall not include
any of the Tenant-Insured Improvements, but shall include all Alterations for which Landlord has not issued a Removal Notice.

 

    	11

     

    

 

10.2
Liability and Other Insurance.

 

(a)
Tenant’s Insurance. Commencing on the Commencement Date and continuing throughout the Term, Tenant will, at its expense,
provide and maintain (i) Commercial General Liability Insurance, with (1) contractual liability coverage including the indemnification
provisions contained in this Lease, (2) a severability of interest endorsement, (3) business interruption coverage, (4) limits
of not less than $2,000,000.00 combined single limit per occurrence and not less than $2,000,000.00 in the aggregate for bodily
injury, sickness or death, and property damage; and Landlord shall be named as an additional insured on such policy, (ii) worker’s
compensation insurance insuring against and satisfying Tenant’s obligations and liabilities under the worker’s compensation
laws of the State of Colorado and employers’ liability insurance in the limit of $100,000/500,000/100,000, and (iii) comprehensive
automobile liability will be carried at a limit of liability not less than $1,000,000.00 combined bodily injury and property damage.

 

(b)
Landlord’s Insurance. Commencing on the Commencement Date and continuing throughout the Term, Landlord will, at its
expense, provide and maintain Commercial General Liability Insurance, with (i) contractual liability coverage including the indemnification
provisions contained in this Lease, (ii) a severability of interest endorsement, (iii) limits of not less than $2,000,000.00 combined
single limit per occurrence and not less than $2,000,000.00 in the aggregate for bodily injury, sickness or death, and property
damage; and Tenant shall be named as an additional insured on such policy. Such insurance shall be in addition to, and not in
lieu of, insurance required to be maintained by Tenant.

 

10.3
General Insurance Requirements. All insurance required to be maintained by Tenant and Landlord pursuant to Sections 10.1 and
10.2 will be maintained with insurers licensed to do business in the State of Colorado. Tenant will deliver to Landlord, on or
before the Commencement Date and at least 10 days before the expiration date of expiring policies, such copies of certificates
as may be reasonably required to establish that the insurance coverage required by Sections 10.1 and 10.2 is in effect from time
to time. Each party will endeavor to obtain an agreement from its insurer(s) that they will give the other party at least 30 days’
notice prior to any cancellation of, or material modification to, the required coverage. Landlord and Tenant will cooperate with
each other in the collection of any insurance proceeds which may be payable in the event of any loss, including the execution
and delivery of any proof of loss or other actions required to effect recovery. All commercial general liability and property
policies maintained by each party will be written as primary policies, not contributing with and not supplemental to any other
coverages that the other party may carry.

 

10.4
Waivers. From and after the Commencement Date, except to the extent caused by the negligence or willful misconduct, or breach
of this Lease, by Landlord, its employees, agents, contractors or invitees, Landlord will not be liable or in any way responsible
for, and Tenant waives all claims against Landlord for, any loss, injury or damage suffered by Tenant or others relating to (a)
loss or theft of, or damage to, property of Tenant or others; (b) injury or damage to persons or property resulting from fire,
explosion, falling plaster, escaping steam or gas, electricity, water, rain or snow, or leaks from any part of the Improvements
or from any pipes, appliances or plumbing, or from dampness; or (c) damage caused by the public or by construction of any public
work. Landlord will not be liable or in any way responsible to Tenant for, and Tenant waives all claims against Landlord for,
any loss, injury or damage that is insured or required to be insured by Tenant under Section 10.1, and for purposes of such waiver,
Tenant will be deemed to be “required to insure” the amount of any deductibles or self-insured retention permitted
by such section. Provided that Tenant maintains the insurance required to be maintained by Tenant pursuant to Section 10.1 and
pays the amount of any deductible or self-insured retention required to be paid under such insurance, and to the extent that such
loss, injury or damage is within the limits of such insurance, Tenant will not be liable or in any way responsible to Landlord
for, and Landlord waives all claims against Tenant for, any loss, injury or damage that is insured by Tenant under Section 10.1.

 

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10.5
Waiver of Subrogation. Landlord and Tenant waive all rights of recovery against the other and its respective officers, partners,
members, managers, agents, representatives, and employees for loss or damage to its real and personal property kept in or on the
Premises, which is capable of being insured against under ISO Causes of Loss - Special Form Coverage, or for loss of business
revenue or extra expense arising out of or related to the use and occupancy of the Premises. Landlord and Tenant agree to obtain
and maintain throughout the Term of this Lease endorsements to their respective Special Form Property Insurance policies waiving
the right of subrogation of their insurance companies against the other party and its agents and employees.

 

10.6
Tenant Indemnity. Except to the extent caused by the negligence or willful misconduct of Landlord, its employees, agents or
contractors, Tenant will indemnify and hold Landlord and the Landlord Indemnified Parties harmless from and against any and all
Claims resulting from or arising out of any accident or occurrence on or about the Premises during the Term (including, without
limitation, accidents or occurrences resulting in injury, death, property damage or theft) or any willful misconduct or negligent
act or omission of Tenant, its employees, agents or contractors, or breach of this Lease by Tenant.

 

10.7
Landlord Indemnity. Except to the extent caused by the negligence or willful misconduct of Tenant, its employees, agents or
contractors, Landlord will indemnify and hold Tenant and the Tenant Indemnified Parties harmless from and against any and all
Claims resulting from or arising out of any willful misconduct or negligent act or omission of Landlord, its employees, agents
or contractors, or breach of this Lease by Landlord.

 

11.
ALTERATIONS; MECHANICS’ LIENS.

 

11.1
Alterations. Tenant will not make any modifications, improvements, alterations, additions or installations (collectively,
“Alterations”) without Landlord’s prior written consent, which consent will not be unreasonably withheld;
provided that Landlord’s consent will not be required for Alterations that do not affect the mechanical, electrical, plumbing,
exterior (including, without limitation, the roof membrane) or structural systems of any Buildings and that cost less than $50,000.00
(“Minor Alterations”) so long as Tenant provides prior written notice to Landlord detailing the type and scope
of such Minor Alterations (a “Minor Alterations Notice”). Landlord will respond to any written Tenant request
for consent to Alterations within 10 business days after Landlord’s receipt of such notice, or if Landlord fails to respond
within such 10-business day period, Landlord will be deemed to have granted its consent to such request. Landlord will have the
right to post notices of non-responsibility or similar notices on the Premises in order to protect the Premises against any liens
resulting from such Alterations or Minor Alterations. Tenant agrees not to allow such notices to be removed or defaced. Tenant
agrees to indemnify, defend and hold Landlord harmless from any and all Claims which may arise out of or be connected in any way
with any Alterations (including Minor Alterations) to the Premises performed by or at the request of Tenant. Absent an agreement
by the parties to the contrary, Tenant will pay the cost of all Alterations (including Minor Alterations). Upon completion of
the applicable Alterations, Tenant will furnish Landlord with contractor’s affidavits that include full and final waivers
of liens for all amounts due for labor and materials in connection with the applicable Alterations. In the case of any Alterations
that require Landlord’s consent, Tenant will also provide Landlord with as-built plans and specifications of the Premises
as altered by such Alterations, if any. All Alterations (including Minor Alterations) will comply with all applicable Laws and
will be constructed in a good and workmanlike manner, using materials of good quality and free and clear of all liens or claims
therefor.

 

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11.2
Ownership of Alterations; Removal Notices. All Alterations shall become the property of Tenant upon its installation and continuing
during the Term, but all of which shall become the property of Landlord upon expiration or earlier termination of this Lease,
except for Tenant’s Property and for items which Landlord requires Tenant to remove at Tenant’s cost at the expiration
or earlier termination of this Lease pursuant to Section 16.1 below or otherwise expressly provided herein. Tenant’s Property
shall be solely the property of Tenant at all times. Notwithstanding the foregoing, Landlord shall notify Tenant in writing (a)
at the time it gives its consent to any Alterations requiring Landlord’s consent, or (b) within six months of the Expiration
Date (including any Renewal Term), whether it will require all or a portion of such Alterations or Minor Alterations, as applicable,
be removed by Tenant at the expiration or earlier termination of this Lease (each, a “Removal Notice”). If
Landlord fails to timely provide a Removal Notice for any Alterations that require Landlord’s consent or fails to provide
a Removal Notice within 10 days after receipt of a Minor Alterations Notice, Tenant shall have no obligation to remove any such
Alterations or Minor Alterations, as applicable. Notwithstanding anything to the contrary contained in this Section, Landlord
may deliver to Tenant a Removal Notice within 30 days after Landlord receives notice or otherwise learns that any Alterations
or Minor Alterations has been performed by Tenant without obtaining Landlord’s prior consent or delivering to Landlord a
Minor Alterations Notice, as applicable (an “Unauthorized Alteration”), requiring that Tenant remove all or
a portion of the same at the expiration or earlier termination of this Lease.

 

11.3
Mechanics’ Liens. Tenant will not permit any mechanic’s lien or other lien to be filed against the Premises by
reason of Alteration or other work performed by or for, or material furnished to, Tenant. If any such lien is filed at any time
against the Premises, Tenant will cause the same to be discharged of record or otherwise posting security or providing title insurance
over the lien within 30 days after it receives notice of the date of filing the same. If Tenant fails to discharge any such lien
within such period, then, in addition to any other right or remedy of Landlord, after five days prior written notice to Tenant,
Landlord may, but will not be obligated to, discharge the same by paying to the claimant the amount claimed to be due or by procuring
the discharge of such lien as to the Premises by deposit in the court having jurisdiction of such lien, the foreclosure thereof
or other proceedings with respect thereto, of a cash sum sufficient to secure the discharge of the same, or by the deposit of
a bond or other security with such court sufficient in form, content and amount to procure the discharge of such lien, or in such
other manner as is now or may in the future be provided by present or future Laws for the discharge of such lien as a lien against
the Premises. Any amount paid by Landlord, or the value of any deposit so made by Landlord, together with all reasonable costs,
fees and expenses in connection therewith (including reasonable attorneys’ fees of Landlord), will be repaid by Tenant to
Landlord on demand by Landlord and if unpaid may be treated as Additional Rent. Notwithstanding the foregoing, if Tenant desires
to contest any such lien, Tenant may do so provided that, within 30 days after the filing thereof, Tenant notifies Landlord of
Tenant’s intention to do so and, until such time as Tenant causes such lien to be removed by the payment thereof or by bonding
over such lien in the manner provided by applicable Law, posting with Landlord such security as Landlord may reasonably request
to provide funds with which Landlord may discharge such lien in the event Tenant is unsuccessful in its contest and then fails
to discharge such lien. Tenant will indemnify and defend Landlord against and save Landlord and the Premises harmless from all
Claims resulting from the assertion, filing, foreclosure or other legal proceedings with respect to any such mechanic’s
lien or other lien.

 

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11.4
Landlord’s Obligations. Landlord agrees to promptly after the Effective Date complete the improvements and other work
on the Premises consistent with the plans described and depicted in more detail on Exhibit D attached hereto and incorporated
herein by this reference (the “Additional Improvements”), which Additional Improvements shall be subject to
acceptance by Tenant in its reasonable discretion. Landlord shall also construct two or three additional service bays, whichever
number is approved by the City of Aurora. The estimated completion date for the Additional Improvements is within 120 days after
the Effective Date.

 

12.
ASSIGNMENT AND SUBLETTING.

 

12.1
Notice and Consent. Except for Permitted Transfers (as defined in Section 12.2 below), Tenant will not assign this Lease or
sublet more than 20% of the square footage contained in the Building or any other Improvements located on the Land to any assignee
or subtenant without first obtaining Landlord’s written consent, which consent will not be unreasonably withheld, conditioned
or delayed. If Tenant desires to effect an assignment or subletting that will require Landlord’s consent, Tenant will seek
such written consent of Landlord by a written request therefor, setting forth the date (which will not be less than 30 days after
date of Tenant’s notice) on which Tenant desires to assign this Lease or to sublet the applicable portion of the Premises,
all of the major terms of the proposed assignment or sublease, the consideration to be paid by the assignee or subtenant for the
interest in the Lease or the Premises, the name and address of the proposed assignee or sublessee and its proposed use of the
Premises, copies of the proposed assignee’s or subtenant’s financial statements, and the proposed form of assignment
or sublease.

 

12.2
Certain Transactions Not Requiring Consent. Notwithstanding anything to the contrary contained herein, Tenant may assign this
Lease or sublet all or any portion of the Premises without the consent of Landlord to any of the following (a “Permitted
Transferee”): (a) an Affiliate of Tenant, or (b) a successor entity to Tenant by virtue of merger, consolidation or
non-bankruptcy reorganization or the sale of Tenant’s business (including via asset sale) then being operated on the Premises
(any of the foregoing may sometimes be referred to herein as a “Permitted Transfer”). Tenant’s right
hereunder are further conditioned on: (1) any such subtenant and/or assignee shall assume and be bound by all obligations of Tenant
for payment of all amounts of rental and other sums and the performance of all covenants required by Tenant pursuant to this Lease;
(2) any such subtenant and/or assignee intends to operate the Premises in accordance with the Permitted Use; and (3) not less
than 30 days prior to the effective date of such sublease or assignment, Tenant shall provide Landlord with notice of such transaction
and copies of the documents evidencing such transaction and such other evidence as Landlord may reasonably require to establish
that such transaction falls within the terms and provisions of this Section and, upon consummation of such Permitted Transfer,
Tenant shall be released from all obligations and liabilities under this Lease from and after the date of such Permitted Transfer,
and Landlord shall look solely to the Permitted Transferee for such liability.

 

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12.3
Notice of Proposed Transfer; Landlord’s Options. Other than a Permitted Transfer, if Tenant desires to enter into any
assignment of this Lease or a sublease of all or any part of the Premises, Tenant will first give Landlord notice of the proposed
assignment or sublease, which notice will contain the information specified in Section 12.1 above. Landlord will have the following
options, which must be exercised, if at all, by notice given to Tenant within 30 days after Landlord’s receipt of Tenant’s
notice of the proposed transfer and all documents reasonably required by Landlord to review such transaction: (i) approve the
proposed assignment or sublease; or (ii) disapprove the proposed assignment or sublease, including a detailed description of the
reason(s) for such disapproval. If Landlord fails to respond to Tenant’s notice within such 30-day period, such assignment
or sublease shall be deemed approved by Landlord.

 

12.4
General Provisions. No subletting or assignment by Tenant hereunder, regardless of whether the same requires Landlord’s
consent, will release or discharge Tenant of or from any liability, whether past, present or future, under this Lease, and Tenant
will continue fully liable hereunder, unless Tenant is expressly released by Landlord in writing. The sublessee or assignee will
agree in a form reasonably satisfactory to Landlord to comply with and be bound by all of the terms, covenants, conditions, provisions
and agreements of this Lease to the extent of the space sublet or assigned, and Tenant will deliver to Landlord promptly after
execution an executed copy of each such sublease or assignment and such an agreement of compliance by each such sublessee or assignee.
Consent by Landlord to any assignment of this Lease or to any subletting of the Premises will not be a waiver of Landlord’s
rights under this section as to any subsequent assignment or subletting. Any sale, assignment, mortgage, transfer or subletting
of this Lease which is not in compliance with the provisions of this Section 12 will be of no effect and void. Landlord’s
right to assign its interest in this Lease will remain unqualified; provided, however, that any assignee of Landlord must expressly
assume in writing all of Landlord’s obligations hereunder.

 

12.5
Lender Consent. No subletting or assignment by Tenant shall be effective if any such sublet or assignment would cause Landlord
to violate any term, condition or covenant of any lending agreement or deed of trust executed by Landlord relating to or affecting
the Land. Any such sublet or assignment shall be deemed void ab initio and of no force and effect.

 

13.
CASUALTY.

 

13.1
Termination Rights; Casualty Determination.

 

(a)
Tenant’s Right to Terminate. If the Building, the Premises or the parking spaces
contained on the Premises (the “Parking Area”), including those spaces
on which inventory is parked (the “Applicable Portion”) is damaged
by fire or other casualty which renders all or a Substantial Portion (as hereinafter defined) of any Applicable Portion unusable
for Tenant’s normal business operations and the damage is so extensive that the Casualty Determination (as defined in paragraph
(b) below) determines that the Applicable Portion cannot, with the exercise of reasonable diligence, be made usable for Tenant’s
normal operations within 150 days from the date of the Casualty Determination or there is less than 24 months remaining in the
Term, then, at the option of Tenant exercised in writing to Landlord within 60 days of the Casualty Determination, this Lease
shall terminate as of the occurrence of such damage; provided, however, Tenant may not terminate this Lease if the damage is caused
by the intentional, criminal or otherwise uninsurable acts of Tenant or its employees, agents or contractors. For purposes
of this Lease, “Substantial Portion” means any of the following: (i) all access, ingress or egress points to
the Premises; (ii) 10% or more of the total area of the Building; or (iii) 10% or more of the total area of the Parking Area.

 

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(b)
Landlord’s Right to Terminate. If the Building, the Premises or the Parking Area
are damaged by fire or other casualty and (i) the damage is so extensive that the Casualty Determination determines that rebuilding
or repairs cannot be completed on or before the date which is 24 months prior to the expiration of the Term, or (ii) the cost
of rebuilding or repairs would exceed the insurance proceeds received or recoverable by Landlord and available for funding the
cost of such rebuilding or repairs by more than 10% of the replacement cost thereof,
then, at the option of Landlord exercised in writing to Tenant within 30 days of the Casualty Determination or the date Landlord
receives final confirmation of the determination of available insurance proceeds, as applicable, this Lease shall terminate as
of the occurrence of such damage; provided, however, Landlord may not terminate this Lease if (i) the damage is caused by the
gross negligence or willful misconduct of Landlord or its agents, contractors or employees; (ii) Landlord has not maintained the
insurance required pursuant to Section 10.1(b) above, or (iii) within 15 days after Landlord elects to terminate this Lease,
Tenant agrees to exercise its next available Renewal Option extending the then-current Term for an additional five years.

 

(c)
Casualty Determination. The cost of rebuilding and repair and the number of days within which the Applicable Portion can
be rebuilt or repaired (the “Estimated
Repair Timeframe”) shall be determined by an independent contractor mutually acceptable
to Landlord and Tenant and certified in writing to Landlord and Tenant (the “Casualty Determination”).
The Casualty Determination shall be made within 60 days after the happening of the casualty.

 

(d)
Payment of Rent. In the event this Lease is terminated pursuant to this Section 13.1, Tenant shall pay Rent duly apportioned
up to the time of such casualty and forthwith surrender the Premises and all interest therein to Landlord. Upon surrender of the
Premises and all interest therein by Tenant, the parties shall be released from all obligations and liabilities arising thereafter,
except for those obligations which expressly survive termination of this Lease, including, but not limited to, Tenant’s
indemnity obligations hereunder.

 

13.2
Repair and Restoration.

 

(a)
Obligation to Repair. If any Applicable Portion is damaged by fire or other casualty and this Lease cannot be or is not
terminated pursuant to Section 13.1 above, then subject to the rights of any Encumbrance Holder, Landlord shall, at Landlord’s
sole cost and expense, rebuild or repair the Applicable Portion (but excluding Tenant-Insured Improvements) in compliance with
all applicable Laws and otherwise to substantially the condition that existed as prior to the date of such casualty; provided,
however, Landlord shall not be required to expend more than the insurance proceeds received from such casualty plus 10% of the
replacement cost of the Premises. Notwithstanding the foregoing, in the event Landlord has not received final confirmation of
the determination of available insurance proceeds and provided written notice thereof to Tenant within 90 days after the Casualty
Determination, Tenant shall have the right to terminate this Lease by delivery of written notice thereof to Landlord within 15
days after expiration of such 90-day period and, upon surrender of the Premises and all interest therein by Tenant, the parties
shall be released from all obligations and liabilities arising thereafter, except for those obligations which expressly survive
termination of this Lease.

 

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(b)
Commencement and Completion of Repair. In the event Landlord is required to rebuild and repair the Building or the Parking
Area, as applicable, pursuant to this 13.2, Landlord shall: (i) commence such rebuilding and repair within 45 days after the date
Landlord receives final confirmation of the determination of available insurance proceeds; and (ii) pursue diligently such rebuilding
and repair to completion. If Landlord fails to repair and restore the Building and/or the Parking Area, as applicable, within
60 days after the Estimated Repair Timeframe, then Tenant shall have the right to terminate this Lease by delivery of written
notice thereof to Landlord and, upon surrender of the Premises and all interest therein by Tenant, the parties shall be released
from all obligations and liabilities arising thereafter, except for those obligations which expressly survive termination of this
Lease.

 

(c)
Abatement of Rent. Rent shall abate from the date of the casualty until the completion of the repair and restoration in
the same proportion that the part of the Premises rendered unusable bears to the whole only to the extent of any recovery by Landlord
under its rental insurance related to the Premises. During any period of repair and restoration, Landlord shall use reasonable
efforts to minimize disruption of Tenant’s use of the Premises.

 

14.
EMINENT DOMAIN.

 

14.1
Termination. If the whole of Premises, is taken by any public authority under the power of eminent domain, this Lease will
terminate as of the earlier of (a) the vesting of title to the Premises in the public authority; or (b) as of the day possession
is taken by such public authority. If so much of the Premises is taken that Tenant is permanently deprived of the use of more
than 10% of the Premises by any public authority under the power of eminent domain, then Tenant may, by written notice to Landlord,
terminate this Lease as of the earlier of (i) the vesting of title to the portion of the Premises in the public authority; or
(ii) as of the day possession is taken by such public authority. In case of any such termination, Landlord will make a pro rata
refund of any prepaid Rent.

 

14.2
Award. All damages awarded for such taking under the power of eminent domain or any like proceedings will belong to and be
the property of Landlord, Tenant hereby assigning to Landlord its interest, if any, in such award. Anything in this Section 14
to the contrary notwithstanding, Tenant will have the right to prove in any condemnation proceedings and to receive any separate
award which may be made for damages to or condemnation of any Alterations installed by Tenant, Tenant’s Property and for
moving/relocation expenses. Notwithstanding the foregoing, in the event any amounts relating to Tenant’s Property are included
in Landlord’s award, Tenant shall be entitled to an equitable portion of such award for those items.

 

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14.3
Restoration. Anything in this Section 14 to the contrary notwithstanding, in the event of a partial condemnation of the Premises
where this Lease is not terminated, (a) Landlord will, at its sole cost and expense, restore the Premises (other than any Tenant-Insured
Improvements) to a complete architectural unit (but Landlord’s restoration obligations will be limited to the extent of
the condemnation award available to Landlord); and (b) the Base Rent provided for herein during the period from and after the
date of delivery of possession pursuant to such proceedings to the termination of this Lease will be reduced to a sum equal to
the product of the Base Rent provided for herein multiplied by a fraction, the numerator of which is the floor area of the applicable
Building after such taking and after the same has been restored to a complete architectural unit, and the denominator of which
is the floor area of the applicable Building prior to such taking.

 

15.
CERTAIN RIGHTS RESERVED BY LANDLORD. Landlord
reserves the following rights, which rights Landlord may exercise; without liability to Tenant to the extent Landlord complies
with provisions hereof; without effecting an eviction, constructive or actual, or a disturbance of Tenant’s use or possession
of the Premises, and without giving rise to any claim for setoff or abatement of Rent:

 

15.1
Emergency Entry. Landlord and its agents may enter the Premises at any time in case of emergency and may use any and all means
which Landlord may deem proper to open the doors to the Premises during an emergency; provided that Landlord will use such efforts
as may be reasonable under the circumstances to minimize any interference with Tenant’s business in the Premises. Landlord
will notify Tenant of any such emergency entry as soon as reasonably possible thereafter.

 

15.2
Access to the Premises. Notwithstanding Section 9.3(b) above, Tenant will permit Landlord and its agents, upon reasonable
prior written notice, which shall not be less than one business day, to enter and pass through the Premises or any part thereof
at reasonable times during normal business hours to: (i) post notices of non-responsibility; (ii) exhibit the Premises to Landlord’s
Encumbrance Holders and to prospective Encumbrance Holders and purchasers of all or portion of the Premises; and (iii) during
the period commencing 12 months prior to the expiration of the Term (as it may be extended), exhibit all or a portion of the Premises
to prospective tenants of the Premises.

 

16.
END OF TERM.

 

16.1
Surrender. Upon the expiration or earlier termination of this Lease, Tenant will (a) peaceably surrender the applicable portion
of the Premises in good order, condition and repair consistent with Tenant’s duty to maintain and make repairs as provided
in this Lease; and (b) remove from the Premises all of Tenant’s Property and any Alterations which Landlord elects shall
be removed by Tenant pursuant to a Removal Notice delivered pursuant to Section 11.1 above (including, without limitation, a Minor
Alteration or an Unauthorized Alteration). Tenant shall repair all damage caused by the installation or removal of any of the
foregoing items. If Tenant does not timely remove such property then, at Landlord’s election, Tenant shall be conclusively
presumed to have: (i) conveyed such property to Landlord without compensation and without any representations or warranties of
any kind; or (ii) abandoned such property, and Landlord may dispose of or store any part thereof in any manner at Tenant’s
sole cost, without waiving Landlord’s right to claim from Tenant all expenses arising out of Tenant’s failure to remove
the property, and without liability to Tenant. Landlord shall have no duty to be a bailee of any such Tenant’s Property.
If Landlord elects abandonment, Tenant shall pay to Landlord, within 30 days after receipt of Landlord’s written demand
(with supporting documentation), all reasonable expenses incurred for disposition.

 

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16.2
Holding Over. Nothing contained herein will be construed to give Tenant the right to hold over at any time, and Landlord may
exercise any and all remedies at law or in equity to recover possession of the Premises. In the event Tenant remains in possession
of the Premises after the Expiration Date, Tenant will be deemed to be occupying the Premises without claim of right, and Tenant
will pay a charge for each day of occupancy in an amount equal to 125% of the Base Rent payable immediately prior to such expiration
for the first three months of such holdover period, and thereafter at 150% of the Base Rent payable immediately prior to such
expiration. The amounts payable for such holdover period shall in no event be construed as a penalty or as liquidated damages
for such retention of possession.

 

17.
DEFAULTS AND REMEDIES.

 

17.1
General. All rights and remedies of Landlord and Tenant enumerated in this Lease are cumulative and are not intended to be
exclusive of any other remedies or means of redress at law or in equity to which either party may be lawfully entitled in case
of any breach by the other party of any provision of this Lease. The failure of either party to insist in any one or more cases
upon the strict performance of any of the covenants of this Lease or to exercise any option herein contained will not be construed
as a waiver or relinquishment for the future of such covenant or option. A receipt by Landlord of Rent with knowledge of the breach
of any covenant hereof (other than breach of the obligation to pay the portion of such Rent paid) will not be deemed a waiver
of such breach, and no waiver by either party of any provisions of this Lease will be deemed to have been made unless expressed
in writing and signed by such party.

 

17.2
Events of Default. Each of the following events will constitute an “Event of Default” under this Lease:

 

(a)
Failure to Pay Rent. Tenant fails to pay Base Rent or any other Rent payable by Tenant under the terms of this Lease when
due, and such failure continues for 10 days after notice from Landlord to Tenant of such failure (provided that, with respect
to monthly installments of Base Rent, Tenant will only be entitled to two notices of such failure during any calendar year and
if, after two such notices are given in any calendar year, Tenant fails, during such calendar year, to pay any further monthly
installment of Base Rent when due, such failure will constitute an Event of Default hereunder without any further notice from
Landlord or additional cure period).

 

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(b)
Failure to Perform Other Obligations. Tenant breaches or fails to comply with any provision of this Lease applicable to
Tenant other than a covenant to pay Rent, and such breach or noncompliance continues for a period of 30 days after notice thereof
from Landlord to Tenant; or, if such breach or noncompliance cannot be reasonably cured within such 30-day period, Tenant does
not commence to cure such breach or noncompliance within such 30-day period or, after commencing to cure such breach or noncompliance,
does not thereafter diligently pursue such cure in good faith to completion.

 

(c)
Execution and Attachment Against Tenant. Tenant’s interest under this Lease or in the Premises is taken upon execution
or by other process of law directed against Tenant, or is subject to any attachment by any creditor or claimant against Tenant
and such attachment is not discharged or disposed of within 30 days after levy.

 

(d)
Bankruptcy or Related Proceedings. Tenant files a petition in bankruptcy or insolvency, or for reorganization or arrangement
under any bankruptcy or insolvency Laws, or voluntarily takes advantage of any such Laws by answer or otherwise, or dissolves
or makes a general assignment for the benefit of creditors, or involuntary proceedings under any such Laws or for the dissolution
of Tenant are instituted against Tenant, or a receiver or trustee is appointed for the Premises or for all or substantially all
of Tenant’s property, and such involuntary proceedings are not dismissed or such receivership or trusteeship vacated within
60 days after such institution or appointment.

 

17.3
Landlord’s Remedies. If any Event of Default occurs, Landlord will have the right, at Landlord’s election, then
or at any later time, to exercise any one or more of the following remedies:

 

(a)
Cure by Landlord. Landlord may, at Landlord’s option but without obligation to do so, and without releasing Tenant
from any obligations under this Lease, make any payment or take any action as Landlord deems necessary or desirable to cure any
Event of Default in such manner and to such extent as Landlord in good faith deems necessary or desirable without being deemed
guilty of any manner of trespass and without prejudice to any other remedies. Tenant will pay Landlord, upon demand, all reasonable
advances, costs and expenses of Landlord in connection with making any such payment or taking any such action, including reasonable
attorneys’ fees, together with interest at the Interest Rate, from the date of payment of any such advances, costs and expenses
by Landlord.

 

(b)
Termination of Lease and Damages. Landlord may terminate this Lease, effective at such time as may be specified by notice
to Tenant, and demand (and, if such demand is refused, recover) possession of the Premises from Tenant. In such event, Landlord
will be entitled to recover from Tenant, as damages for loss of the bargain and not as a penalty, an aggregate sum equal to (i)
all unpaid Base Rent and other Rent for any period prior to the termination date of this Lease (including interest from the due
date to the date of the award at the Interest Rate); plus (ii) the present value at the time of termination (calculated by discounting
on a monthly basis at a discount rate equal to the rate payable on U.S. Treasury securities offered at the time of award having
a maturity closest to the date on which the Term would have expired but for such termination plus 6%) of the amount, if any, by
which (A) the aggregate of the Base Rent and all other Rent payable by Tenant under this Lease that would have accrued for the
balance of the Term after termination, exceeds (B) the amount of such Base Rent and other Rent which could reasonably be recovered
by reletting the Premises for the remainder of the Term at the then-current fair rental value; plus (iii) interest at the Interest
Rate on the amount described in (ii) above from the termination date to the date of the award.

 

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(c)
Repossession and Reletting. Landlord may reenter and take possession of all or any part of the Premises, without additional
demand or notice unless required by applicable Law, and repossess the same and expel Tenant and any party claiming by, through
or under Tenant, and remove the effects of both, without being liable for prosecution for such action or being deemed guilty of
any manner of trespass, and without prejudice to any remedies for arrears of Rent or right to bring any proceeding for breach
of covenants or conditions. No such reentry or taking possession of the Premises by Landlord will be construed as an election
by Landlord to terminate this Lease unless a notice of such intention is given to Tenant. No notice from Landlord or notice given
under a forcible entry and detainer statute or similar Laws will constitute an election by Landlord to terminate this Lease unless
such notice specifically so states. Landlord reserves the right, following any reentry or reletting, to exercise its right to
terminate this Lease by giving Tenant such notice, in which event this Lease will terminate as specified in such notice. After
recovering possession of the Premises, Landlord will use commercially reasonable efforts to relet the Premises on commercially
reasonable terms and conditions. Landlord may make such repairs or alterations as Landlord considers reasonably appropriate to
accomplish such reletting, and Tenant will reimburse Landlord upon demand for all reasonable costs and expenses, including reasonable
attorneys’ fees, which Landlord may incur in connection with such reletting. Landlord may collect and receive the rents
for such reletting but Landlord will in no way be responsible or liable for any inability to relet the Premises or to collect
any rent due upon such reletting. Landlord may apply the same first to the payment of such expenses as Landlord may have incurred
in recovering possession of the Premises, including reasonable attorneys’ fees and expenses for putting the same into good
order and condition or preparing or altering the same for re-rental to the extent Landlord deems reasonably necessary and all
other expenses, commissions and charges paid, assumed or incurred by Landlord in or about reletting the Premises and then to the
fulfillment of the covenants of Tenant hereunder. Any such reletting herein provided for may be for the remainder of the Term
of this Lease, as originally granted, or for a longer or shorter period; Landlord will have the right to change the character
and use made of the Premises, and Landlord will not be required to accept any substitute tenant offered by Tenant or to observe
any instructions given by Tenant about reletting, so long as Landlord is acting reasonably in connection therewith. Regardless
of Landlord’s recovery of possession of the Premises, so long as this Lease is not terminated Tenant will continue to pay
(and Landlord may recover, if Tenant fails to do so), on the dates specified in this Lease, the Base Rent and other Rent which
would be payable if such repossession had not occurred, less a credit for the net amounts, if any, actually received by Landlord
through any reletting of the Premises.

 

(d)
Bankruptcy Relief. Nothing contained in this Lease will limit or prejudice Landlord’s right to prove and obtain as
liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding, an amount equal to the
maximum allowable by any Laws governing such proceeding in effect at the time when such damages are to be proved, whether or not
such amount be greater, equal or less than the amounts recoverable, either as damages or Rent, under this Lease.

 

    	22

     

    

 

(e)
Mitigation. In exercising its remedies under this Section 17.3, Landlord will use commercially reasonable efforts to mitigate
its damages.

 

(f)
Non-Material Event of Default. Notwithstanding anything in this Section 17.3 or elsewhere in this Lease to the contrary,
Landlord shall have no right to terminate this Lease for any Event of Default by Tenant that is de minimus and which does
not materially, adversely impact Landlord or its interest in the Premises (a “Non-Material Event of Default”).

 

(g)
No Waiver of Breach. No failure by Landlord to insist upon the strict performance of any agreement, term, covenant or condition
hereof or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the
continuance of any such breach, shall constitute a waiver of any such breach of such agreement, term, covenant or condition. No
agreement, term, covenant or condition hereof to be performed or complied with by Tenant, and no breach thereof, shall be waived,
altered or modified except by written instrument executed by Landlord. No waiver of any breach shall affect or alter this Lease,
but each and every agreement, term, covenant and condition hereof shall continue in full force and effect with respect to any
other then existing or subsequent breach thereof. Notwithstanding any termination of this Lease, any provisions expressly providing
for the survival of an obligation or liability with respect to either party shall survive such termination.

 

(h)
No Limitation. Nothing contained in this Section 17.3 shall limit or prejudice the right of Landlord to prove and obtain
as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding, an amount equal to
the maximum allowed by any applicable Law governing such proceeding and in effect at the time when such damages are to be proved,
whether or not such amount be greater, equal to or less than the amounts recoverable, either as damages or rent, referred to in
any of the preceding provisions of this Section.

 

(i)
Rights Cumulative. Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every
other right or remedy provided for in this Lease or now or hereafter existing at Law or in equity, including, but not limited
to, suits for injunctive or declaratory relief and specific performance. The exercise or commencement of the exercise by Landlord
of any one or more of the rights or remedies provided for in this Lease or now or hereafter existing at Law or in equity shall
not preclude the simultaneous or subsequent exercise by Landlord of any or all other rights or remedies provided for in this Lease,
or now or hereafter existing at Law or in equity. All costs incurred by Landlord in connection with collecting any amounts and
damages owing by Tenant pursuant to the provisions of this Lease or to enforce any provision of this Lease, including by way of
example, but not limitation, reasonable attorneys’ fees from the date any such matter is turned over to an attorney, shall
also be recoverable by Landlord from Tenant.

 

(j)
No Waiting Period. Suit or suits for the recovery of the amounts and damages set forth above may be brought by Landlord,
from time to time, at Landlord’s election and nothing herein shall be deemed to require Landlord to await the date whereon
this Lease or the Term hereof would have expired had there been no such default by Tenant or no such termination, as the case
may be.

 

    	23

     

    

 

17.4
Landlord’s Default; Tenant’s Remedies. If, during the Term, Landlord defaults in fulfilling any of its covenants,
obligations or agreements set forth in this Lease, Tenant may give Landlord written notice of such default and, if at the expiration
of 30 days after delivery of such notice, such default continues to exist, or in the event of a default which cannot with due
diligence be cured within a period of 30 days, if Landlord fails to proceed promptly after the delivery of such notice and with
all due diligence to commence to cure the same and thereafter to prosecute the curing of such default with all due diligence to
completion as soon as reasonably possible, then Tenant will be entitled to exercise any right or remedy available to Tenant at
Law or in equity by reason of such default (subject to Section 18.4), except to the extent expressly waived or limited by the
terms of this Lease. Tenant shall look solely to Landlord’s interest in the Premises (including all rents and profits, any
proceeds from the sale thereof and all insurance proceeds and condemnation awards relating thereto) for the recovery of any judgment
against Landlord on account of Landlord’s breach of any of Landlord’s covenants or obligations under this Lease. Unless
specifically provided for hereunder, Tenant shall not be permitted to any abatement of Rent in the event of a default by Landlord
hereunder.

 

18.
SUBORDINATION; ESTOPPEL CERTIFICATES.

 

18.1
Subordination. If the Premises are encumbered by an Encumbrance as of the Effective Date, Landlord will obtain a subordination,
non-disturbance and attornment agreement with commercially reasonable terms and conditions reasonably acceptable to Tenant and
such Encumbrance Holder providing that, so long as no Event of Default then exists and Tenant attorns to the Encumbrance Holder
in accordance with Section 18.3, no foreclosure of a mortgage or deed of trust or termination of a ground lease, as applicable,
and no proceedings instituted in connection therewith, will disturb Tenant in its possession of the Premises or the exercise of
Tenant’s rights under this Lease (a “SNDA”). If Landlord has not obtained a SNDA as described above on
or before that date that if 30 days after the Effective Date, then Tenant will have the right to terminate this Lease by notice
to Landlord delivered no later than 10 days after the expiration of such 30-day period.

 

18.2
Subsequent Encumbrances. If the Premises are not encumbered by an Encumbrance as of the Effective Date, then with respect
to any subsequent Encumbrance, this Lease will not be subject or subordinate to any such Encumbrance unless and until Landlord
is able to deliver to Tenant a SNDA from the applicable Encumbrance Holder on a form reasonably acceptable to Tenant; provided,
however, that Tenant will negotiate in good faith in connection with the form and substance of such SNDA.

 

18.3
Option to Make Lease Superior. Notwithstanding anything contained in Section 18.1, in the event Encumbrance Holder at any
time elects to have this Lease constitute a prior and superior lien to its Encumbrance, then, and in such event, upon Landlord
or any such Encumbrance Holder notifying Tenant to that effect in writing, this Lease will be deemed prior and superior in lien
to such Encumbrance, whether this Lease is dated prior to or subsequent to the date of such Encumbrance, and Tenant will execute
such attornment agreement as may be reasonably requested by such Encumbrance Holder.

 

    	24

     

    

 

18.4
Attornment. If Landlord’s interest in the Premises is transferred to any person or entity, including an Encumbrance
Holder (“Transferee”) as a result of the foreclosure of a mortgage or deed of trust encumbering the Premises
or the termination of a ground lease of the Premises or other proceedings for the enforcement of an Encumbrance or by taking a
deed in lieu of foreclosure or otherwise, Tenant will not disaffirm this Lease or any of its obligations under this Lease, and
Tenant will, unless otherwise notified in writing by Transferee, immediately and automatically attorn to Transferee and this Lease
will continue in full force and effect as a direct lease between Tenant and Transferee upon the same terms and conditions of this
Lease except that Transferee will not be (a) subject to any offsets or defenses which Tenant might have against Landlord; (b)
bound by any prepayment by Tenant of more than one month’s installment Rent, unless actually received from Landlord; or
(c) obligated to perform any of Landlord’s obligations under this Lease except during the period of Transferee’s ownership
of the Premises.

 

18.5
Encumbrance Holder Protection. Tenant agrees to use commercially reasonable efforts to give any Encumbrance Holder, by registered
or certified mail, a copy of any notice of default served upon Landlord by Tenant, provided that prior to such notice Tenant has
been notified in writing of the address of such Encumbrance Holder (the “Notified Party”). Tenant further agrees
that if Landlord shall have failed to cure any default within 30 days after such notice to Landlord (or if such default cannot
be cured or corrected within that time, then such additional time as may be necessary if Landlord has commenced within such 30
days and is diligently pursuing the remedies or steps necessary to cure or correct such default), then the Notified Party shall
have an additional 15 days within which to cure or correct such default (or if such default cannot be cured or corrected within
that time, then such additional time as may be necessary if the Notified Party has commenced within such 15 days and is diligently
pursuing the remedies or steps necessary to cure or correct such default).

 

18.6
Estoppel Certificates.

 

(a)
Tenant. Tenant agrees, from time to time, upon not less than 15 days’ prior written request by Landlord, to deliver
to Landlord a statement in writing certifying (i) this Lease is unmodified and in full force and effect (or if there have been
modifications, that this Lease as modified is in full force and effect and stating the modifications); (ii) the dates to which
Base Rent and other Rent have been paid; (iii) that to Tenant’s actual knowledge, Landlord is not in default in any provision
of this Lease or, if in default, the nature thereof specified in detail; (iv) the amount of monthly Base Rent currently payable
by Tenant; (v) that Tenant has taken possession of the Premises; and (vi) such other matters as may be reasonably requested by
Landlord or any Encumbrance Holder or prospective purchaser of all or a portion of the Premises.

 

(b)
Landlord. Landlord agrees, from time to time, upon not less than 15 days’ prior written request by Tenant, to deliver
to Tenant a statement in writing certifying (i) this Lease is unmodified and in full force and effect (or if there have been modifications,
that this Lease as modified is in full force and effect and stating the modifications); (ii) the dates to which Base Rent and
other Rent have been paid; (iii) that to Landlord’s actual knowledge, Tenant is not in default in any provision of this
Lease or, if in default, the nature thereof specified in detail; (iv) the amount of monthly Base Rent currently payable by Tenant;
and (v) such other matters as may be reasonably requested by Tenant.

 

    	25

     

    

 

19.
TENANT’S RIGHT OF FIRST OFFER REFUSAL.

 

19.1
Grant of Right of First Refusal to Purchase. Subject to and in accordance with the terms and provisions of this Section 19,
commencing on the Effective Date and continuing during the Term (including any Renewal Term), Landlord hereby grants to Tenant
an ongoing right of first refusal (the “ROFR Right”) to purchase the Premises, for which Landlord receives
a third-party offer to purchase that Landlord desires to accept, to be exercised in accordance with the provisions of this Section
19.

 

19.2
ROFR Purchase Notice. In the event Landlord receives a third-party offer to purchase either the Premises that Landlord desires
to accept, Landlord shall notify Tenant in writing of the terms of the third-party offer for the purchase of the Premises, including,
without limitation, the purchase price, earnest money deposit and closing date (the “ROFR Purchase Terms”),
and shall include a copy of the applicable letter of intent or offer accepted by Landlord. Tenant will have the right to elect
to purchase the Premises on the ROFR Purchase Terms by delivering to Landlord notice of its election to exercise this option within
15 business days after Tenant’s receipt of Landlord’s notice of the ROFR Purchase Terms. If Tenant fails to timely
exercise the ROFR Right for the Premises on the terms specified in the ROFR Purchase Terms, Tenant’s ROFR Purchase Right
on the Premises shall automatically expire for that particular offer, and Landlord shall have the right to sell the Premises to
such third party on the ROFR Purchase Term and without any restrictions by reason of this ROFR Right, except as expressly set
forth in Section 19.5 below.

 

19.3
Condition to Exercise. Tenant’s ROFR Right is subject to the condition that on the date that Tenant delivers its notice
exercising its ROFR Right, no Event of Default exists (other than a Non-Material Event of Default).

 

19.4
Documentation of Exercise of ROFR Right. If Tenant timely exercises Tenant’s option to purchase the Premises, Tenant
will have a period of 30 days to deliver to Landlord a draft purchase and sale agreement (“Purchase Agreement”)
containing the ROFR Purchase Terms, and the parties shall thereafter negotiate in good faith the terms and conditions thereof
and execute the same. To the extent not inconsistent with the ROFR Purchase Term, the Purchase Agreement shall include the following
terms: (a) an earnest money deposit in an amount equal to 10% of the applicable purchase price; (b) the closing of the purchase
shall be no later than 90 days after mutual execution of the Purchase Agreement, (c) Landlord shall pay the cost of the commitment
for title insurance and the premium for the title insurance policy to be issued to Tenant at the closing of the purchase, which
policy shall not contain any of the standard printed exceptions and shall insure fee simple title to the Premises in Tenant in
the full amount of the purchase price (provided that Tenant shall pay the costs of any survey), and Landlord and Tenant shall
each pay 50% of all recordation fees, transfer taxes, and other customary closing costs associated with the conveyance of the
Premises from Landlord to Tenant, and (d) the Premises shall be conveyed to Tenant at closing by special warranty deed, free and
clear of all liens, except taxes for the year of closing (prorated as of the date of closing) and any easements or other encumbrances
except as otherwise approved by Tenant pursuant to the Purchase Agreement or incurred due to the actions of Tenant.

 

19.5
Continuous Right. If Landlord has not entered into a Purchase Agreement with a third party that is not an Affiliate of Landlord
within 180 days after the termination of Tenant’s rights with respect to the exercise of a ROFR Right after receipt of the
applicable ROFR Purchase Terms, then, prior to entering into any purchase and sale agreement with any third party, Landlord shall
again comply with the provisions of Section 19.2; or if during such 180-day period, Landlord agrees to enter into a purchase and
sale agreement with a third party for a purchase price that is 95% or less than the price set forth in the applicable ROFR Purchase
Terms, Landlord will again comply with the terms and conditions of Section 19.2. The ROFR Right shall not expire as a result of
the purchase of the Premises by a third party or any Affiliate Landlord, and such third party or Affiliate shall take title to
the Premises subject to the ROFR Right contained herein.

 

    	26

     

    

 

20.
INTENTIONALLY OMITTED.

 

21.
MISCELLANEOUS.

 

21.1
Brokers. Landlord and Tenant represent and warrant that no broker or agent negotiated or was instrumental in negotiating or
consummating this Lease. Neither party knows of any real estate broker or agent who is or might be entitled to a commission or
compensation in connection with this Lease. Tenant and Landlord will indemnify and hold each other harmless from all damages paid
or incurred by the other resulting from any claims asserted against either party by brokers or agents claiming through the other
party.

 

21.2
Notices. All notices required or permitted under this Lease must be in writing and will only be deemed properly given and
received (i) when actually given and received, if delivered in person to a party who acknowledges receipt in writing; or (ii)
one business day after deposit with a private courier or overnight delivery service, if such courier or service obtains a written
acknowledgment of receipt; or (iii) three business days after deposit in the United States mails, certified or registered mail
with return receipt requested and postage prepaid. All such notices must be transmitted by one of the methods described above
to the party to receive the notice at, in the case of notices to Landlord, Landlord’s Notice Address, and in the case of
notices to Tenant, the applicable Tenant’s Notice Address, or, in either case, at such other address(es) as either party
may notify the other of according to this Section 21.2. Any notice or demand from an attorney acting or purporting to act on behalf
of a party shall be deemed to be notice from such party, provided that such attorney is authorized to act on behalf of such party.

 

21.3
Severability; Governing Law. If any term or provision of this Lease is to any extent held invalid or unenforceable, the remaining
terms and provisions of this Lease will not be affected thereby, but each term and provision of this Lease will be valid and enforced
to the fullest extent permitted by law. This Lease will be governed by, and construed and enforced in accordance with, the laws
of the State of Colorado.

 

21.4
Transfers of Landlord’s Interest. The term “Landlord” as used in this Lease, so far as covenants or obligations
on the part of Landlord are concerned, will be limited to mean and include only the owner or owners of the Premises at the time
in question, and in the event of any transfer or conveyance, then so long as any transferee has expressly assumed in writing all
of the obligations of Landlord hereunder and Tenant has received prior written notice of such transfer or conveyance, the then
grantor will be automatically freed and released from all personal liability accruing from and after the date of such transfer
or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be
performed, it being intended hereby that the covenants and obligations contained in this Lease on the part of Landlord will be
binding on the then Landlord only during and in respect to its period of ownership. In the event of a sale or conveyance by Landlord
of the Premises, the same will operate to release Landlord from any future liability upon any of the covenants or conditions herein
contained and in such event Tenant agrees to look solely to the responsibility of the successor in interest of Landlord in and
to this Lease. This Lease will not be affected by any such sale or conveyance, and Tenant agrees to attorn to the purchaser or
grantee, which will be obligated on this Lease only so long as it is the owner of Landlord’s interest in and to this Lease.

 

    	27

     

    

 

21.5
Attorneys’ Fees. If either Landlord or Tenant shall commence any action or other proceeding against the other arising
out of, or relating to, this Lease or the Premises, the prevailing party shall be entitled to recover from the losing party, in
addition to any other relief, its reasonable attorneys’ fees irrespective of whether or not the action or other proceeding
is prosecuted to judgment.

 

21.6
Independent Covenants. Each covenant, agreement, obligation or other provision of this Lease to be performed by Tenant are
separate and independent covenants of Tenant, and not dependent on any other provision of the Lease.

 

21.7
No Merger. The voluntary or other surrender of this Lease by Tenant or the cancellation of this Lease by mutual agreement
of Tenant and Landlord or the termination of this Lease on account of Tenant’s default will not work a merger, and will,
at Landlord’s option, (a) terminate all or any subleases and subtenancies; or (b) operate as an assignment to Landlord of
all or any subleases or subtenancies.

 

21.8
Presumption. In all cases hereunder, and in any suit, action or proceeding of any kind between the parties, it shall be presumptive
evidence of the fact of the existence of a charge being due, if Landlord shall produce a bill, notice or certificate to the effect
that such charge appears of record on the books in Landlord’s office or appears as an open charge on the books, records
or official bills of municipal authorities, and has not been paid.

 

21.9
Headings. The marginal or topical headings of the several sections are for convenience only and do not define, limit or construe
the contents of such sections.

 

21.10
Complete Agreement; Modification. All of the representations and obligations of the parties are contained in this Lease and
no modification, waiver or amendment of this Lease or of any of its conditions or provisions will be binding upon a party unless
in writing signed by such party.

 

21.11
Offer to Lease. The submission of this Lease to Tenant does not constitute an offer to Tenant to lease the Premises. This
Lease shall have no force and effect until it is executed and delivered by Tenant to Landlord.

 

21.12
Survival. All obligations of Landlord and Tenant hereunder not fully performed as of the expiration or earlier termination
of the Term will survive the expiration or earlier termination of the Term.

 

    	28

     

    

 

21.13
No Partnership. This Lease will not be deemed or construed to create or establish any relationship or partnership or joint
venture or similar relationship or arrangement between Landlord and Tenant hereunder.

 

21.14
Force Majeure. Whenever a period of time is herein prescribed for action to be taken by either party, such party will not
be liable or responsible for, and there will be excluded from the computation of any such period of time, any delays due to unforeseeable
causes beyond the reasonable control and without the fault or negligence of the performing party, including but not restricted
to, acts of God; or the public enemy; fires; floods; epidemics; quarantine restrictions; strikes; freight embargoes; and any abnormal
and unforeseeable weather. A lack of funds, however, will never be deemed beyond a party’s reasonable control.

 

21.15
Financial Statements. Within 15 days from receipt of a written request by Landlord (but not more often than once per calendar
year), Tenant will make available to Landlord or to any Encumbrance Holder or prospective Encumbrance Holder or purchaser of the
Premises, audited financial statements of Tenant or any guarantor, provided that Landlord or any such Encumbrance Holder or prospective
Encumbrance Holder or purchaser agrees to maintain such statements in confidence, and provided further that if audited financial
statements of Tenant are not available at the time of such request, Tenant may deliver unaudited statements prepared in accordance
with generally accepted accounting principles consistently applied and certified to be true and correct by an officer of Tenant.
Notwithstanding the foregoing, Landlord acknowledges that Tenant deems its financial performance details to be proprietary and
confidential information of Tenant and may not be disclosed to any third party by Landlord or used by Landlord for any purpose
unrelated to this Lease. Landlord agrees that it will not disclose any aspect of Tenant’s financial statements to any third
party except (a) to Landlord’s mortgagee or prospective mortgagees or purchasers of the Premises, (ii) in litigation or
other legal proceedings between Landlord and Tenant, and/or (iii) if required by applicable Laws or court order.

 

21.16
Binding Effect. The covenants and agreements herein contained will bind and inure to the benefit of Landlord and its successors
and assigns, and Tenant and its permitted successors and assigns. All obligations of each party constituting Tenant hereunder
will be the joint and several obligations of each such party.

 

21.17
Choice of Venue. All litigation and other proceedings initiated and/or maintained pursuant to this Lease will be held exclusively
in Colorado state or federal court in the County of Denver.

 

[Remainder
of page intentionally left blank]

 

    	29

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Lease Agreement as of the date first set forth above.

 

	LANDLORD: Chambers 3640, LLC

 a Colorado limited liability company	 
	 	 	 
	By:		 
	Name:		 
	Title:		 
	 	 	 
	TENANT:	 
	 	 	 
	Lazydays Mile HI RV, LLC,

  a Delaware limited liability company	 
	 	 	 
	By:
    		 
	Name:	Randall
    L. Lay	 
	Title:
    	Vice
    President of Finance	 

 

SIGNATURE PAGE TO LEASE AGREEMENT (MILE HI RV)

 

    	 	 	 

     

    

 

Exhibit
A

 

LEGAL
DESCRIPTION OF THE LAND

 

 

 

    	A-1

     

    

 

Exhibit
B

 

DEFINITIONS

 

“Additional
Rent” means all amounts required to be paid by Tenant under this Lease in addition to Base Rent including, without limitation,
Taxes and insurance premiums.

 

“Affiliates”
means, with respect to any party, any entities or individuals that control, are controlled by or are under common control with
such party.

 

“Encumbrance”
means any deed of trust, mortgage, ground lease or sale-leaseback lease to which Landlord is a party and which relates to the
Premises.

 

“Encumbrance
Holder” means the deed of trust beneficiary, mortgagee, ground lessor or sale-leaseback lessor under an Encumbrance.

 

“Environmental
Laws” shall mean any and all federal, state and local laws (whether under common law, statute, rule, regulation or otherwise),
requirements under permits or other authorizations issued with respect thereto, and other orders, decrees, judgments, directives
or other requirements of any governmental authority relating to or imposing liability or standards of conduct (including disclosure
or notification) concerning protection of human health or the environment, including, without limitation, the Comprehensive Environmental
Response Compensation and Liability Act (42 U.S.C. §9601 et seq.), the Emergency Planning and Community Right-to-Know Act
(42 U.S.C. §11001 et seq.), the Hazardous Substances Transportation Act (49 U.S.C. §1801 et seq.), and the Clean Air
Act (42 U.S.C. §7401 et seq.), all as previously and in the future to be amended.

 

“Hazardous
Substance” shall mean, but is not limited to, any substance, chemical, material or waste (i) the presence of which causes
a nuisance, trespass or any other common law, statutory or regulatory liability of any kind; (ii) which is regulated by any federal,
state or local governmental authority because of its toxic, flammable, corrosive, reactive, carcinogenic, mutagenic, infectious,
radioactive or other hazardous property or because of its effect on the environment, natural resources or human health and safety,
including, but not limited to, petroleum and petroleum products, asbestos-containing materials, polychlorinated biphenyls, lead
and lead-based paint, radon, radioactive materials, flammables and explosives; or (iii) which is designated, classified, or regulated
as being a hazardous or toxic substance, material, pollutant, waste (or a similar such designation) under any federal, state or
local law, regulation or ordinance, including under any Environmental Law.

 

“Interest
Rate” means the prime interest rate (as published from time to time by The Wall Street Journal, and with any
changes in such rate to be effective on the date such change is published) plus 2% per annum, but if such rate exceeds the maximum
interest rate permitted by Law, such rate will be reduced to the highest rate allowed by Law under the circumstances.

 

“Landlord
Indemnified Parties” shall mean and include Landlord, its Affiliates and their respective officers, directors, managers,
members, partners, employees and agents.

 

    	B-1

     

    

 

“Laws”
means any and all present or future federal, state or local laws, statutes, ordinances, codes, rules, regulations or orders of
any and all governmental or quasi-governmental authorities having jurisdiction, including, without limitation, Environmental Laws.

 

“Ordinary
Course of Business” means, for purposes of Section 7.3, (i) with respect to Tenant, that the applicable activity is
conducted by Tenant on the Premises in connection with the Permitted Use hereunder and all related activities, and (ii) with respect
to Landlord, that the applicable activity is conducted by Landlord in its role as Landlord hereunder, all in compliance with applicable
Laws.

 

“Release”
shall mean any release, deposit, discharge, emission, leaking, leaching, spilling, seeping, migrating, injecting, pumping, pouring,
emptying, escaping, dumping, disposing or other movement of any Hazardous Substance.

 

“Taxes”
means all ad valorem real and personal property taxes and assessments, special or otherwise, levied upon or with respect to the
Premises, the personal property used in operating the Premises, and the rents and additional charges payable by Tenant according
to this Lease, and imposed by any taxing authority having jurisdiction; and all taxes, levies and charges which may be assessed,
levied or imposed in replacement of, or in addition to, all or any part of ad valorem real or personal property taxes or assessments
as revenue sources, and which in whole or in part are measured or calculated by or based upon the Premises, the leasehold estate
of Landlord or Tenant in and to the Premises, or the rents and other charges payable by Tenant according to this Lease. Taxes
will not include any net income, franchise, business and occupation, gift or inheritance taxes of Landlord.

 

“Tax
Year” means a 12-month period for which Taxes are assessed.

 

“Tenant
Indemnified Parties” shall mean and include Tenant, its Affiliates and their respective officers, directors, managers,
members, partners, employees and agents.

 

“Tenant’s
Property” means, collectively, all trade fixtures and tangible and intangible personal property, including, without
limitation, inventory, products, raw materials, packaging, furnishings, furniture, equipment, sign faces, computers, computer-related
equipment, audio/visual equipment, cabling, safes, security systems, communications equipment and other equipment for use in connection
with the conduct of Tenant’s business regardless of the manner in which they are installed.

 

    	B-2

     

    

 

Exhibit
C

 

FORM
OF MEMORANDUM OF LEASE AGREEMENT

 

After
Recording Return To:

 

	 	 
	 	 
	 	 
	Attn:		 

 

 

MEMORANDUM
OF LEASE AGREEMENT

 

THIS
MEMORANDUM OF LEASE AGREEMENT (this “Memorandum”) is made this ___ day of _______, 2015 (the “Effective
Date”), by and between Chambers 3640, LLC, a Colorado limited liability company, having a mailing address at a 320
Starfire Way, Golden, Colorado 80401 (“Landlord”), and Lazydays Mile HI RV, LLC a Delaware limited liability
company, having a mailing address at 6130 Lazydays Boulevard, Seffner, FL 33584 (“Tenant”).

 

RECITALS:

 

A.
Landlord is the owner of the real property and the improvements located thereon with a street address of 3610-3640 Chambers Road,
Aurora, Colorado, and being more particularly described on Exhibit A attached hereto (the “Premises”).

 

B.
Landlord and Tenant entered into that certain Lease Agreement dated October ___, 2015 (together with all amendments, substitutions,
replacements and renewals thereto from time to time, collectively, the “Lease”), pursuant to which (i)
Landlord leased to Tenant all of the Premises, and (ii) Landlord granted to Tenant an ongoing right of first refusal to purchase
the Premises for which Landlord receives a third-party offer to purchase, that Landlord desires to accept; and

 

C.
Section 3.2 of the Lease provides that Landlord and Tenant shall execute this Memorandum and Tenant may record the same in the
real property records of the County of Adams, State of Colorado.

 

AGREEMENT:

 

NOW,
THEREFORE, for good and valuable consideration, receipt and sufficiency of which is hereby acknowledged, in consideration of the
Recitals set forth above and the covenants and agreements contained herein, the parties hereto hereby agree as follows:

 

1.
The Lease; The Premises. Landlord has leased to Tenant, and Tenant has leased from Landlord, the Premises, pursuant
to the terms and conditions of the Lease.

 

2.
Commencement Date. The term of the Lease (the “Term”) commenced on ___________ ___, 2015
(the “Commencement Date”).

 

    	C-1

     

    

 

3.
Lease Term. The term of the Lease of the Premises is approximately five years (the “Term”),
commencing on the Commencement Date.

 

4.
Renewal Terms. Tenant may, at its option, extend the initial Term of the Lease for, at Tenant’s election, for
four (4) additional periods of five (5) years each (each, a “Renewal Term”), pursuant to the terms and
conditions of the Lease.

 

5.
Right of First Refusal to Purchase. Subject to the terms and conditions of the Lease, from and after the date of the
Lease and continuing during the Term (including any Renewal Term), Landlord has granted Tenant an ongoing right of first refusal
to purchase the Premises for which Landlord receives a third-party offer that Landlord desires to accept, to be exercised in accordance
with the terms and conditions of the Lease.

 

6.
Additional Provisions. The Lease contains additional rights, terms and conditions not enumerated in this instrument.

 

7.
Purpose and Intention; Conflict. This Memorandum is executed for the purpose of recordation in the Office of the Clerk
and Recorder of the County of _________, State of Colorado (the “Records”), and is not intended, and
shall not be construed, to define, limit or modify the Lease. The leasehold estate created and conveyed hereby with respect to
the Premises is intended to be one and the same estate as was created with respect to the Premises by the Lease and is further
intended to be governed in all respects solely by the Lease and all of the provisions thereof. In the event of any inconsistency
between the provisions of this Memorandum and the Lease, the provisions of the Lease shall control.

 

8.
Cancellation of Memorandum of Lease. Unless sooner terminated by specific written agreement of Landlord and Tenant,
this Memorandum shall expire and be of no further force or effect immediately, and without further action, upon the expiration
or earlier termination of the Lease. To evidence such termination or expiration pursuant to this Section 8, each party
agrees, within 15 days after the written request of the other party, to enter into and record an appropriate release and/or cancellation
instrument, in proper form for recordation in the Records, acknowledging the expiration or earlier termination of the Lease.

 

9.
Binding Effect. All of the provisions of this Memorandum shall inure to the benefit of and shall be binding upon the
successors and assigns of Landlord and Tenant; provided, however, any such assignment shall be subject to the terms
and conditions of the Lease.

 

10.
Counterparts. This Memorandum may be executed in any number of counterparts each of which, when taken together, shall
constitute one agreement.

 

[signature
pages follow]

 

    	C-2

     

    

 

IN
WITNESS WHEREOF, Landlord and Tenant have executed this Memorandum of Lease Agreement as of the Effective Date.

 

	 	LANDLORD:
    Chambers 3640, LLC
	 	a
    Colorado limited liability company
	 	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 
	STATE
    OF COLORADO       )	 	 
	                                                   )
    ss.	 	 
	COUNTY
OF __________   )
	 	 

 

The
foregoing instrument was acknowledged before me this ______ of _________________________, 2015 by ________________________________,
as _________________________________ of Chambers 3640, LLC, a Colorado limited liability company.

 

Witness
my hand and official seal.

 

	 	 
	 	Notary
    Public	 
	 	My
    commission expires:	 

 

    	C-3

     

    

 

	 	TENANT:
    Lazydays Mile Hi RV, LLC, a Delaware limited liability company
	 	 	 
	 	By:	      
	 	Name:	 
	 	Title:	 
	STATE
    OF _____________)	 	 
	                                                   )
    ss.	 	 
	COUNTY
    OF ___________)	 	 

 

The
foregoing instrument was acknowledged before me this ______ of _______________________, 2015, by ____________________________
as ___________________ of Lazydays Mile Hi RV, LLC, a Delaware limited liability company.

 

Witness
my hand and official seal.

 

	 	 
	 	Notary
    Public	 
	 	My
commission expires:	 

 

    	C-4

     

    

 

Exhibit
A to Memorandum of Lease Agreement

 

Legal
Description of the Premises

 

 

 

    	C-5

     

    

 

Exhibit
D

 

DESCRIPTION/PLANS
FOR ADDITIONAL IMPROVEMENTS

 

 

8148069_1

 

    	D-1

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