WEST MARINE INC
LEASE AGREEMENT, DATED DECEMBER 1, 1986 BETWEEN SCP GREEN HAGERSTOWN
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<TYPE>EX-10.8
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<FILENAME>dex108.htm
<DESCRIPTION>LEASE AGREEMENT, DATED DECEMBER 1, 1986 BETWEEN SCP GREEN HAGERSTOWN
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<TITLE>Lease Agreement, dated December 1, 1986 between SCP Green Hagerstown</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.8 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><U>LEASE AGREEMENT</U> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">THIS LEASE AGREEMENT (&#147;Lease&#148;) is made this 1st day of December, 1986, by and between Indian Creek Company, a Virginia general partnership
(&#147;Landlord&#148;), and Boat America Corporation, a Virginia corporation (&#147;Tenant&#148;). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">WHEREAS, Landlord is the owner of certain real property and improvements located at Long Meadow and Porter Chemical Road, Hagerstown, Maryland, such
improvements presently consisting of warehouse and office space containing approximately 287,300 square feet, more particularly described in Exhibit A attached hereto (&#147;Premises&#148;); and </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">WHEREAS, Landlord desires to lease the Premises to Tenant, and Tenant desires
to lease the premises from Landlord, upon the terms, conditions, covenants, and agreements set forth herein; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">NOW, THEREFORE, Landlord and Tenant, do hereby covenant and agree as follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">I. <U>Premises, Term and Surrender</U> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">A. <U>Premises</U>. Landlord hereby leases the Premises to Tenant, for the &#147;Term&#148; and upon the conditions,
covenants and agreements hereinafter provided. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">B. <U>Term</U>.
The term of this Lease shall be for a period commencing on even date herewith and expiring at midnight on November 30, 1996, (the &#147;Term&#148;), unless sooner terminated in accordance with the provisions hereof. At the option of the Tenant, the
Lease may be renewed for two (2) additional five-year periods. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2">C. <U>Surrender</U>. Tenant shall, upon expiration of the Term hereof, quit and surrender the Premises to Landlord in good order and condition, reasonable wear and tear excepted. In the event that Tenant is prevented from quitting and
surrendering the Premises upon the expiration of the Term due to any cause beyond the control of Tenant, then Tenant shall be allowed to remain at and in the Premises as a month-to-month Tenant, upon the same terms, conditions, covenants and
agreements as are set forth herein and at a monthly rent derived by dividing the annual rent set forth in paragraph II-A by twelve (12), until such time as Tenant shall be able to quit and surrender the Premises to Landlord. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">II. <U>Rent, Impositions and Liens</U>. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">A. <U>Rent</U>. Tenant covenants and agrees to pay to Landlord rent in the
following amounts (&#147;Base Rent&#148;); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(1) Upon
commencement of this Lease, and continuing on the first day of each subsequent month during the Term of this Lease, Tenant shall pay to Landlord, in advance, rent in the amount of $46,000 per month. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(2) If the first and last month during the Term of this Lease is less than a
full calendar month, the rent due in such month(s) shall be proportionately reduced by </FONT>
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<FONT FACE="Times New Roman" SIZE="2">multiplying the rent that would otherwise be due for the full month by a fraction, the numerator of which is the number of days in the month during the Term,
and the denominator of which is the number of days in such month. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman"
SIZE="2">(3) All rent shall be paid to Landlord at the Premises, unless Landlord gives Tenant notice of a different address in accordance with paragraph XIII-C below. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">B. <U>Rental Adjustments</U>. On the first day of the sixty-first (61st) month after the commencement of this Lease, and at
the beginning of each renewal option period, the then Base Rent shall be adjusted upwards by the increase, if any, in the U.S. Consumer Price Index, or in any interest adjustment by First National Bank of Maryland (&#147;Bank&#148;), whichever is
greater, by multiplying the Base Rent then due each month by a fraction, the numerator of which shall be the Consumer Price Index or Bank interest rate, as of the most recent date prior to such adjustment, and the denominator of which shall be the
Consumer Price Index as of the commencement date of this Lease. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2">C. <U>Liens</U>. Tenant shall pay all workmen and materialmen providing services or materials to the Premises at the request of Tenant and shall not allow any mechanic&#146;s or materialmen&#146;s lien to attach to or become a lien against
the Premises. If any such lien attaches to or becomes a lien against the Premises, Tenant agrees to discharge such lien within ten (10) days after written notice thereof from Landlord to Tenant or to provide a satisfactory bond against any such
lien. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">D. <U>Impositions</U>. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(1) Tenant covenants and agrees to pay all lawful real estate taxes,
assessments, general or special, sewer and water charges and any other governmental charges, levied, imposed or which become a lien against the Premises allocable to the Term of this Lease (all or any of which are hereinafter referred to as the
&#147;Imposition&#148; or &#147;Impositions&#148;). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(2) If
any Imposition may, at the election of Tenant, be paid in installments (whether or note interest shall be imposed as a condition of payment in installments), Landlord hereby authorizes and permits Tenant to pay such Imposition in such installments
as Tenant and the imposing authority may agree upon. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(3) If
any such Imposition payable by Landlord prior to the commencement of this Lease or after termination of this Lease covers a period during he Term of this Lease, or if any such Imposition payable by Tenant covers a period prior to the commencement of
this Lease or subsequent to the termination of this Lease, such Imposition (including interest thereon, if any) shall be prorated between Landlord and Tenant as of the date of commencement or termination of this Lease, as the case may be, and paid
to the appropriate party at such time. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(4) Tenant shall have
the right to protest and/or contest any Imposition which is required to be paid by Tenant hereunder by appropriate administrative or legal proceedings, provided, however: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:17%"><FONT FACE="Times New Roman" SIZE="2">(i) Such protest or contest shall not cause or result in a sale or foreclosure of the Premises which cannot
be terminated by payment of said protested or contested Imposition; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:17%"><FONT FACE="Times New Roman" SIZE="2">(ii) Tenant shall diligently prosecute such protest and/or contest; and </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:17%"><FONT FACE="Times New Roman" SIZE="2">(iii) Tenant shall be responsible for the payment of any
penalties, interest or fees with respect to the Imposition protested or contested. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT
FACE="Times New Roman" SIZE="2">E. <U>Right of Landlord</U>. If Tenant shall fail to pay any liens in accordance with paragraph II-C; or fail to discharge or bond any lien, or, if Tenant shall fail to pay any Imposition in accordance with paragraph
II-D, Landlord shall have the right, after prior written notice thereof to Tenant, to pay or discharge such lien or Imposition on behalf of Tenant. Any amount so paid by Landlord on behalf of Tenant shall be deemed additional rent hereunder and
shall be paid by Tenant within ten (10) days of written demand thereof by Landlord. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">III. <U>Use, Maintenance and Alterations</U>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT
FACE="Times New Roman" SIZE="2">A. <U>Use</U>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(1) Tenant
shall have the exclusive right to use and occupy the Premises for its business operations, together with activities related thereto including any storage of Tenant&#146;s line of products. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(2) Tenant agrees to comply with all lawful governmental requirements in
connection with the use and occupancy of the Premises. It is expressly understood that if any present or future law, ordinance, regulation or order requires an occupancy permit for the Premises, Tenant will obtain such permit at Tenant&#146;s own
expense. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">B. <U>Repairs</U>. Tenant agrees to maintain the
Premises in good condition and repair, reasonable wear and tear excepted, at its sole cost and expense. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">C. <U>Alterations</U>. Tenant will not make or permit anyone to make any material alterations, additions or improvements, structural or otherwise, in or
to the Premises without the prior written consent of Landlord. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2">IV. <U>Assignment and Subletting</U>. Tenant shall have the right, with the prior written approval of Landlord, not to be unreasonably withheld, to assign this Lease and/or to sublet all or any portion or portions of the Premises at any
time, Tenant to remain obligated for the rent in the event of any default by the assignee or subtenant. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">V. <U>Insurance</U>. Tenant shall obtain and maintain insurance in accordance with the requirements set forth in Exhibit B attached hereto and made a part
hereof. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">VI. <U>Default</U>. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">A. <U>Default</U>. Tenant shall be in default hereunder if Tenant shall fail
to timely pay rent hereunder or comply with any of Tenant&#146;s obligations hereunder where such failure to comply shall continue for a period of ten (10) days after the due date or required date of </FONT>
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<FONT FACE="Times New Roman" SIZE="2">performance; provided, however, that Tenant shall not be deemed in default if any such default may be reasonably cured within thirty (30) days and Tenant is
diligently proceeding with the curing of such default. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">B.
<U>Remedies</U>. In the event that Tenant is in default, Landlord, upon ten (10) days prior written notice to Tenant, may terminate this Lease and reenter the Premises. In addition, Landlord shall have the right to pursue any claim or action against
Tenant for damages or equitable relief, and/or the right to cure such default on behalf of tenant (which shall not constitute a waiver of such default) and charge Tenant the cost of effecting such cure as additional rent hereunder. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">VII. <U>Title</U>. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">A. <U>Warranty</U>. Landlord represents, warrants and covenants that it has
good and marketable title to the Premises and that it has the full right, power and authority to enter into this Lease. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">B. <U>Quite Enjoyment</U>. Landlord represents, warrants and covenants that for so long as Tenant complies fully with the terms of this Lease, Tenant
shall have, occupy and hold and use the Premises lawfully and for its quiet enjoyment during the term of this Lease. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">VIII. <U>Casualty and Condemnation</U>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">A. <U>Condemnation</U>. If, during the Term of this Lease, the whole or any part of the Premises or the improvements located thereon shall be taken as a
result of the exercise of any power or condemnation or eminent domain (or by private purchase in lieu thereof), Landlord shall be entitled to retain the entire condemnation award and Tenant shall have no claim or rights with respect thereto. In the
event of any partial taking as aforesaid, Tenant shall have the right of either (1) accepting an equitable reduction in the rent or (2) terminating this Lease, in which case Tenant shall be relieved of any further obligation to Landlord. In the
event that the Premises are wholly taken as a result of any condemnation of eminent domain (or private purchase in lieu thereof), this Lease shall immediately terminate and be automatically cancelled. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">B. <U>Casualty</U>. In the event that the Premises or any substantial part
thereof or any buildings or other improvements to the Premises or any substantial part thereof (greater than fifty (50%) percent) are destroyed by fire or other casualty, Landlord shall have the option in its sole discretion of (1) terminating this
Lease as of the date of such casualty or destruction or (2) applying the proceeds of any existing insurance policies, if any, to the restoration of the Premises and/or any buildings or other improvements thereon. In the event that Landlord elects to
restore the Premises, the rent payable pursuant to this Lease shall abate in whole or in part, as the case may be, (any rent reduction based upon the percentage destruction of the Premises) during the period commencing on the date of such damage or
destruction and ending on the date upon which Landlord finishes restoring the Premises. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">IX. <U>Bankruptcy or Insolvency of Tenant</U>. In the event of the adjudication of bankruptcy or insolvency of Tenant or in the event that Tenant makes an assignment for the benefit of its creditors or enters into any
composition or similar arrangement with creditors, this Lease shall automatically terminate and the provisions hereof shall be of no further force of effect. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">X. <U>Inspection</U>. Tenant will permit Landlord, or its agents or other representatives, to enter the
Premises, without charge therefore to Landlord and without diminution of the rent payable by Tenant, to examine, inspect and protect the Premises throughout the Term or to exhibit the same to prospective tenants or purchasers during the last one
hundred eighty (180) days of the Term of this Lease. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">XI.
<U>Subordination and Attornment</U>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">A. <U>Subordination</U>.
This Lease is subject and subordinate to the lien of a first Deed of Trust dated <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> (the &#147;Deed of Trust&#148;) between
Indian Creek Company and Patricia A. Brion and Laura J. Russell (the &#147;Trustees&#148;), which secures First National Bank of Maryland, and to all and any renewals, extensions, modifications, recasting or refinancings thereof. In confirmation of
such subordination, Tenant shall, at Landlord&#146;s request, promptly execute, acknowledge and deliver to Landlord any requisite or appropriate certificate or other document. Tenant hereby constitutes and appoints Landlord as Tenant&#146;s
attorney-in-fact to execute any such certificate or certificates for or on behalf of Tenant if Tenant does not execute said certificate within five (5) days of receipt thereof. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">B. <U>Attornment</U>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(1) Tenant agrees that in the event of such a foreclosure pursuant to the Deed of Trust, Tenant shall attorn to the Bank or its successors in interest,
if requested to do so by such successor and to recognize such successor as the Landlord under this Lease, and 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 the obligations of Tenant hereunder in the event that any such foreclosure proceeding is prosecuted or completed. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:13%"><FONT FACE="Times New Roman" SIZE="2">(2) Provided Trustees have given Tenant written notice of where such notices are to be sent, Tenant shall not terminate
this Lease for any default on the part of the Landlord without first giving thirty (30) days written notice by certified or registered mail, return receipt requested, to the Trustees, specifying the default in reasonable detail, and affording the
Trustees a reasonable opportunity to make performance within the time period specified in such notice, at their election, for and on behalf of the Landlord. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">XII. <U>Utilities</U>. Tenant shall pay all costs and charges for all utilities and services provided or used in or at the Premises. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">XIII. <U>Other Provisions</U>. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">A. <U>No Broker</U>. Landlord and Tenant each represent and warrant to the
other that they have not authorized any broker, agent or finder to act on their behalf nor do they have any knowledge of any broker, agent or finder purporting to act on their behalf in respect to this transaction, and Landlord and Tenant hereby
agree to indemnify and hold harmless the other from and against any cost, expense, claim, liability or damage resulting from a breach of the representation and warranty contained herein. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">B. <U>No Partnership or Joint Venture Created</U>. Nothing contained in this Lease shall be deemed or construed to create a
partnership or joint venture of or between Landlord and Tenant, or to create any relationship between the parties hereto other than that of Landlord and Tenant. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">- 5 - </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">C. <U>Notice</U>. Any and all notices, requests or other communications hereunder shall be deemed to have
been duly given if in writing and if transmitted by hand delivery with receipt therefor, or by registered or certified mail, return receipt requested, and first class postage prepaid, as follows: (i) To Landlord, at the Premises; or (ii) to Tenant,
at the Premises; or to such other address as either party may furnish to the other by notice in accordance with this paragraph XIII-C. Notice shall be deemed effective when received. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">D. <U>Governing Law</U>. This Lease shall be construed and enforced in accordance with the laws of the State of Maryland.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">E. <U>Invalidity of Particular Provisions</U>. If any
provision of this Lease or the application thereof to any person or circumstances shall to any extent be invalid or unenforceable, the remainder of this Lease, or 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, and each provision of this Lease shall be valid an be enforced to the fullest extent permitted by law. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">F. <U>Headings</U>. The captions and headings herein are for convenience of reference only and in no way define or limit the
scope or content of this Lease or in any way affect its provisions. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2">G. <U>Binding Effect</U>. This Lease shall be binding upon, and inure to the benefit of, the parties hereto and their respective legal representatives, heirs, executors, administrators, successors and assigns. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">H. <U>Entire Lease</U>. This Lease contains the final and entire agreement
between the parties hereto and is intended to be an integration of all prior negotiations and understandings. Landlord, Tenant and their respective agents shall not be bound by any terms, conditions, statements, warranties or representations, oral
or written, not contained herein. No change or modification of this Lease shall be valid unless the same is in writing and is signed by the party against which it is sought to be enforced. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">- 6 - </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">IN WITNESS WHEREOF, the parties hereto have executed this Lease under seal on the day and year set forth
below. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">

<TR>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="7"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">LANDLORD:</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="8"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">WITNESS:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="7"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">INDIAN CREEK COMPANY,</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="7"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">a Virginia general partnership</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ Richard Ellison</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ Richard Schwartz</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">(SEAL)</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Richard Schwartz, Partner</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Dated: November 25, 1986</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="8"></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="7"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">TENANT:</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="8"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">WITNESS:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="7"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">BOAT AMERICA CORPORATION,</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="7"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">A Virginia corporation</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ Steven G. Schwartz</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ Thomas J. Petrash</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">(SEAL)</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">(SEAL)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Thomas J. Petrash,</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Vice President</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Dated: November 25, 1986</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">- 7 - </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><U>EXHIBIT &#147;B&#148;</U> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">INSURANCE COVERAGE </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">A. <U>Property Insurance</U>. Tenant shall, at all times during the term hereof, insure the premises against loss or damage from fire, smoke, lightning,
windstorm, explosion, vandalism, malicious mischief and the other hazards ordinarily included under standard broad form extended coverage endorsements in amounts equal to the full replacement cost of the Premises (that amount having been determined
to be $7,000,000.00). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">B. <U>Public Liability, Workman&#146;s
Compensation, and Property Damage Insurance.</U> Tenant shall, at all times during the term hereof, maintain general public liability insurance coverage of $5,000,000.00 and workmen&#146;s compensation as required by law insuring against claims for
bodily injury or death occurring upon, in or about, or resulting from the use of, the Premises with the insurance (other than workmen&#146;s compensation) to afford protection to the limit of not less than $500,000.00 in respect of bodily injury or
death to any one person and to the limit of no less than $1,000,000.00 in respect of any one accident. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">C. <U>Loss of Rents</U>. Landlord shall maintain insurance with respect to loss of rents for a period equal to one year. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">D. <U>Insurance Companies</U>. All required insurance shall be carried with
responsible insurance companies selected by the party responsible for obtaining such insurance, and approved by Landlord on even date herewith (which approval shall not be unreasonably withheld), and may be effected by endorsement of blanket
insurance policies; provided, however, that all policies of insurance shall be written by companies authorized to do business in the State of Maryland. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">E. <U>Certificates of Insurance</U>. Each party shall deliver to the other (i) promptly upon the execution and delivery of this Lease, original policies
or duplicates, or certificates or binders, evidencing that all required insurance is in full force and effect, and (ii) at least twenty (20) business days prior to the expiration of any insurance, additional policies or duplicates, or certificates
or binders, evidencing the renewal of the insurance and the payment of the premiums. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">F. <U>Named Insureds</U>. All policies shall name Landlord, its partners, Tenant, and the Trustees as additional insureds as their interests may appear, if any. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">G. <U>Mortgage Clauses</U>. The property insurance policy required by (A) and all renewals of its shall
contain standard clauses naming First National Bank of Maryland (&#147;Holder&#148;) as mortgages and requiring that all proceeds payable under the policy (other than proceeds for claims of less than $1,000.00, which shall be payable to Landlord) be
paid to Holder and Landlord. Accordingly, the policy shall have attached to it standard non-contributing, non-reporting mortgagee clauses in form acceptable to the Holder, in favor of and entitling the Holder without contribution, to collect any and
all proceeds payable under that insurance as its interest may appear. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2">H. <U>Cancellation</U>. Each insurance policy required by this exhibit shall contain an agreement by the issuer that it will not cancel the policy or modify it in a manner which is adverse to the interests of Landlord, Tenant, or the
Holder, except upon prior written notice to all named insureds, in accordance with law (but not less than fifteen (15) days), and that any loss otherwise payable under the policy shall be payable notwithstanding any act of negligence by the
Landlord, or Tenant, which might, absent that agreement, result in forfeiture of all or part of the insurance payment. Either party shall immediately notify the other of any cancellation of or change in any insurance policy. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">I. <U>Failure to Effect Insurance</U>. In the event that either party fails
to effect, maintain or renew any of the insurance required of it, then the other party shall have the right, but not the obligation, to procure said insurance, and the premium therefore shall be immediately reimbursed by the defaulting party;
provided, however, it is expressly understood that procurement of the insurance shall not be deemed to waive or release such default. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">J. <U>Umbrella Policies</U>. In lieu of separate policies, either party may maintain or cause to be maintained blanket or umbrella policies if those
policies provide the coverage required by this Exhibit. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">K.
<U>Revised Limits</U>. Landlord shall have the right to require different limits for the insurance required hereunder if, in Landlord&#146;s sole discretion, the limits are necessary to adequately protect the interests of the Landlord; provided,
however, that the revised limits are (i) readily available in the market and (ii) obtainable at standard premium rates. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">B-2 </FONT></P>

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