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LEASE AGREEMENT LEASE AGREEMENT GOVERNMENT OF THE VIRGIN ISLANDS DEPARTMENT OF PROPERTY AND PROCUREMENT And COMMERCIAL INVESTMENTS, LLC. PREMISES: Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, United States Virgin Islands, conshting of a one (1) story building residing on 17,396 U.S. sq. ft. or 0.399 U.S. acre(s) of improved land more-or-less. TABLE OF CONTENTS Article I 1.01 Premises I 1.02 Use I Article II 2.01 Term 2.02 Options 2.03 Failure to Give Possession 2.04 Holding Over 2 Article III 3.01 Annual Rent 2 3.02 Late Payment Charges 2 3.03 Readjustment of Rent 3 3.04 Late Payment Charges 3 Article IV 4.01 Improvements 4 4.02 Title to Improvements 4 4.03 Location and Improvements 4 4.04 Real Property Tax 4 4.05 Repairs by Lessee 5 4.06 Failure of Lessee to Repair 5 4.07 Excavation and Sorting 5 Article V 5.01 Mechanic’s Lien 6 Article VI 6.01 Liability Insurance 6 6.02 Indemnity 6 6.03 Non-Liability 6 6.04 Fire and Extended Coverage by Lessee 7 6.05 Environmental Limitation of Liability and Indemnity 7 Article VII 7.01 Access to Premises 7 7.02 Easement for Pipes and Water Storage Tank Facility 7 Article VIII 8.01 Notice of Condemnation 8 8.02 Rights of Lessor and Lessee 8 8.03 Taking of Leasehold 8 8.04 Total Taking 8 8.05 Partial Taking 8 TABLE OF CONTENTS (CONT’D) Article IX 9.01 Cancellation 8 9.02 Termination 9 9.03 Repossessing and ReLetting 9 9.04 Assignment and Transfer 10 9.05 Subleasing 10 ArticleX 10.01 Notices 11 10.02 Non-discrimination 11 10.03 Officials not to Benefit 11 10.04 Agreement made in the Virgin Islands 12 10.05 Counterparts 12 10.06 Cumulative Rights and Remedies 12 10.07 Interpretation 12 10.08 Agreement made in Writing 12 10.09 Paragraph Headings 12 10.10 Invalidity of Illegality of Provisions 12 10.11 Successors and Assigns 12 10.12 Broker 12 10.13 Approvals Required 12 10.14 Entire Agreement 12 10.15 Conflictoflnterest 13 10.16 Rights of Holder of the Leasehold Mortgage 13 10.17 Compliance with Laws 14 10.18 Waiver 14 10.19 Enforcement of Lease Terms 14 10.20 Acknowledgement 15 LEASE AGREEMENT THIS LEASE made this ____ day of _________, 20, by and between the GOVERNMENT OF THE VIRGIN ISLANDS, acting through its Commissioner of the Department of Property and Procurement, (hereinafter “Lessor” or “Government”) and Commercial Investments, LLC whose mailing address is P.O. Box 9626 Charlotte Amalie, St. Thomas, U.S. Virgin Islands 00801, (hereinafter “Lessee”). WITNESSETH: In consideration of the mutual covenants and agreements herein set forth, it is hereby agreed: ARTICLE I PREMISES AND USE 1.01 Premises: The Lessor hereby leases to the Lessee and the Lessee hires and takes from the Lessor Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, United States Virgin Islands, consisting of a one (1) story building residing on 17,396 U.S. sq. ft. or 0.399 U.S. acre(s) of improved land more-or-less, which is zoned 1-2 for “Light Industry” (hereinafter the “Premises”). The aforesaid Premises is shown on P.W. File No. D9-1425- T78, a copy of which is attached and made a part hereof as Exhibit “A.” 1.02 j: The Lessee shall use the hereby Premises for a logistics storage warehouse and for other related purposes. Said use is contingent on the Lessee obtaining and maintaining the required permits, licenses, and any required rezoning of the Premises to a zoning designation compatible to the operation of same, as required in Paragraph 10.17. ARTICLE II TERM 2.01 Initial Term: The term ofthis Lease shall be for a period ofthirty (30) years (“Initial Term”) commencing on the first (lst) day of the month following approval by the Legislature of the Virgin Islands (“Commencement Date”). 2.02 Options: If Lessee is not in default in the performance of any material condition of this Lease at the expiration ofthe Initial Term, Lessee shall have the option to renew this Lease for two (2) additional terms of ten (10) years each (each a “Renewal Term”) at the rent provided for in Paragraph 3.03 hereof by giving written notice of such renewal at least thirty (30) days prior to the expiration ofthe Initial Term in the case ofthe first(Ut) renewal or at least thirty (30) days prior to the expiration of the Renewal Term in the case of the second renewal. 2.03 Failure to Give Possession: The Lessor shall not be liable for failure to give possession of the Premises upon the Commencement Date by reason of the fact that the Premises are not ready for occupancy, or due to prior lessee wrongfully holding over or any other person Lessee’s InitiaIs Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, U.S. Virgin Islands Multi-Year Agreement wrongfully in possession of the Premises; in such event, the rent shall not commence until possession is given or is available, but the term herein granted shall not be extended. 2.04 Holding Over: IfLessee remains in possession ofthe Premises after expiration ofthe Initial Term or any Renewal Terms hereof, without Lessor’s express consent and without any distinct agreement between Lessor and Lessee, Lessee shall become a month-to-month Lessee and there shall be no renewal of this Lease by operation of law. During the period of any such holding over, all provisions of this Lease shall be and remain in effect except the rent provisions. The rent during this hold-over period shall be two hundred percent (200%) of the rent payable for the last calendar month of the term of this Lease, including renewals or extensions. The inclusion of the preceding sentence in this Lease shall not be construed as Lessor’s consent for Lessee to hold-over. ARTICLE III RENT 3.01 Annual Rent: The Lessee shall pay to the Lessor an Annual Rent ofForty-Eight Thousand Dollars and Zero Cents ($48,000.00) payable in equal monthly installments of Four Thousand Dollars and Zero Cents ($4,000.00) during the term of this Lease. The Annual Rent shall commence on the first (lst) day of the month after the Construction Period of twenty-four (24) months or less has expired, as described in Paragraph 4.01 herein. Payment of Annual Rent and Construction Period Rent shall be made in equal monthly installments in advance on the first (ist) day ofevery month during the term thereof, without any previous demand by Lessor, provided, however, if possession of the Premises is granted to the Lessee at a date after the first (lst) of the month, then in such event the rent for such first (1st) month shall be prorated. 3.02 Construction Period Rent: Lessee shall be required to pay reduced rent during the Construction Period of twenty-four (24) months, the Construction Period is hereinafter defined in Paragraph 4.01, and Lessee shall be required to make reduced rent payments as follows: A. Lessee shall be required to pay Five Hundred Dollars and Zero Cents ($500.00) per month, for months one through twenty-four (1-24) of this Lease. The Construction Period Rent will not be available or extended beyond the Construction Period of twenty-four (24) months. Should all the improvements stated in Paragraph 4.01 be completed prior to the time allotted for the Construction Period, the Annual Rent in Paragraph 3.01 will commence in the month immediately following the completion of improvements. Lesse&s InitiaI Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, US. Virgin Islands Multi- Year Agreement The Annual Rent and Construction Period Rent shall be paid at Lessor’s office at 8201 Submarine Base Suite 4, St. Thomas, U.S. Virgin Islands 00802, together with any other sum due as additional rent as provided herein. 3.03 Readjustment of Rent: The rent payable under this Lease shall be adjusted after the tenth (lOth) year of the Initial Term, and every year thereafter, including any Renewal Term, in accordance with the increase of the Consumer Price Index (“CPI”) as established by the U.S. Department of Labor, Bureau of Labor Statistics for “All Items, All Urban Consumers (1967-100%)” as follows, provided, however, no adjustments in rent for any year shall be increased more than three percent (3%) over any preceding year. i. The CPI as of the final month of the tenth year and as of the first (1st) month of each subsequent Lease year shall be the base price index and the CPI as of the month immediately preceding the first (1st) month of any Lease year after the first (1 s) Lease year of the Initial Term shall be the current price index. ii. The current price index shall be divided by the base price index, and the quotient thereof shall be multiplied by the annual rent of the prior year. iii. The resulting product shall be the annual base rent for the current year. In no event shall any rent determined in the above manner be reduced below the annual rent of Forty-Eight Thousand Dollars and Zero Cents ($48,000.00). 3.04 Late Payment Charges: Lessee acknowledges that late payment by Lessee to Government of rent and all other charges provided for under this Lease will cause Government to incur costs not contemplated by this Lease, the exact amount of such costs includes, without limitation, processing and accounting charges. Therefore, if any installment of rent or any other charge due from Lessee is not received by Government within ten (10) days of the due date, Lessee shall pay to Government an additional ten percent (10%) ofthe amount owed for monthly rent or any other charges, including but not limited to repair costs and attorney’s fees, as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that the Government will incur by reason of the late payment by Lessee. Acceptance of any late charge shall not constitute a waiver of Lessee’s default with respect to the overdue amount, nor prevent Government from exercising any of the other rights and remedies available to Government. Lessee’s InitiaIs Commercial Invest,nents, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, U. S. Virgin Islands Multi- Year Agreement ARTICLE IV IMPROVEMENTS 4.01 Improvements: As a part of the consideration for this agreement, the Lessee shall provide at its own cost and expense the following improvements (“Improvements”) owned by the Lessee at an estimated cost of Six Hundred Thousand Dollars and Zero Cents ($600,000.00) which is subject to the prior written consent obtained in each and every case from the Commissioner of the Department of Property and Procurement; in addition to whatever other licenses or permits are deemed necessary. Improvements to be made to the Premises are as follows: LIST OF IMPROVEMENTS 1. Demolish and rebuild the interior office; 2. Repair or replace roof, exterior metal wall panels, and insulation; 3. Replace or upgrade plumbing and electrical, and HVAC systems; 4. Replace rollup doors; 5. Install exterior lighting and perimeter fencing; 6. Install a security and surveillance system; 7. Container loading dock; and 8. Installation of an emergency generator & optional solar panels with battery system. The improvements shall be completed no later than twenty-four (24) months of the Commencement Date of this Lease (“Construction Period”). Lessee agrees to keep the said Premises and appurtenances as repaired, in a clean, sightly, and tenantable condition, and to return said Premises to Lessor upon the expiration or other termination of this Lease, in as good condition as it was since the last repairs were made, less reasonable wear and tear from intervening use. 4.02 Title to Improvements: At the conclusion of this Lease or if renewed, any renewal, title to any structure or improvement by Lessee which is attached to the realty shall vest in the Lessor. Furniture or other personal items, if not removed from the Premises prior to termination, shall become the property of the Lessor. 4.03 Location and Improvements: The above-mentioned improvements are located at Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, U.S. Virgin Islands. 4.04 Real Property Tax: Upon the completion ofany improvements constructed on the Premises, Lessee shall notify Lessor, who shall notify the Tax Assessor for the purpose of making an assessment ofthe value ofthe improvements. Lessee hereby agrees to pay any and all taxes, assessments, and other charges of any description levied or assessed during the term of thi Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, U.S. Virgin Islands Multi- Year Agreement Lease by the Office of the Lieutenant Governor, Tax Assessor, on or against any improvements constructed by Lessee or other equipment or fixtures installed by Lessee on the Premises. Assessments shall only apply to those improvements owned by Lessee during the term of this Lease. 4.05 Repairs by Lessee: Lessee shall, at its own cost and expense, make all repairs, structural or otherwise, to the interior and exterior of said Premises. “Repairs,” as used herein, shall mean all repairs, replacements, renewals, alterations, additions, improvements, and betterment. The provisions of this Paragraph shall not apply in the case of damage or destruction by fire or other insured casualty or by eminent domain, in which event the obligations of the Lessor and Lessee shall be controlled as hereinafter provided. 4.06 Failure of Lessee to Repair: In the event the Lessee, after it shall have been given a twenty (20) day notice (except in a case of emergency in which event reasonable notice under the circumstances shall be sufficient), refuses and neglects to make any repair for which it is responsible, or if repair is necessitated by reason of the Lessee’s negligent acts or omissions, then the Lessor may make such repairs. Lessor shall not be responsible for any loss, inconvenience, or damage resulting to Lessee because of Lessor’s repair. The cost of such repairs by the Lessor, together with interest at the rate provided in Paragraph 3.04, shall be paid by the Lessee as additional rent. 4.07 Excavation and Sorting: If any excavation shall be made or contemplated to be made for building or other purposes upon property or streets adjacent to or nearby the Premises, Lessee either: a. shall afford to the person or persons causing or authorized to cause such excavation the right to enter upon the Premises for the purpose of doing such work as such person or persons shall consider to be necessary to preserve any of the walls or structures of the improvements on the Premises from injury or damage and support the same by the proper foundation, or b. shall, at the expense of the person or persons causing or authorized to cause such excavation, do or cause to be done all such work as may be necessary to preserve any of the walls or structures of the improvements on the Premises from injury or damages and to support the same by proper foundations. Lessee shall not by reason of any such excavation or work, have any claim against Lessor for damages or indemnity or for suspension, diminution, abatement, or reduction of rent under this Lease. Lessee’s lnitiaIs Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, U.S. Virgin Islands Multi- Year Agreement ARTICLE V MECHANIC’S LIEN 5.01 Mechanic’s Lien: Nothing contained in this Lease shall be deemed, construed, or interpreted to imply any consent or agreement on the part of Lessor to subject Lessor’s interest or estate to any liability under any mechanic’s lien. Should any notice of intention to file a lien under Title 28, Chapter 12 of the Virgin Islands Code or any mechanics or other lien be filed against the property of the Lessor, for any work, labor, services, or materials performed at or furnished to the Premises for or on behalf ofthe Lessee or anyone holding any part of the Premises through or under Lessee, Lessee shall cause the same to be canceled and discharged of record by payment, bond or order of a court of competent jurisdiction within thirty (30) days after notice by Lessor to Lessee. If Lessee fails to discharge said lien, then the Lessee shall forthwith reimburse the Lessor the total expenses incurred by the Lessor in discharging the said lien as additional rent hereunder. ARTICLE VI INSURANCE AND INDEMNITY 6.01 Liability Insurance: Lessee shall, during the term thereof keep in full force and effect a policy of public liability and property damage insurance in which the limits of public liability shall be no less than One Million Dollars ($1,000,000.00) property damage, One Million Dollars ($1,000,000.00) for one (1) person injured or killed and One Million Dollars ($1,000,000.00) for any number of persons injured or killed in any one accident. All of said insurance shall be in a form satisfactory to Lessor and shall provide that it shall not be subject to cancellation, termination, or change, except after thirty (30) days prior written notice to Lessor, Lessee shall furnish Lessor, or Lessor’s designee, with a certificate of insurance evidencing the coverage required hereunder on the day Lessee commences occupancy or work in or about the premises herein leased. All such policies shall name the Lessor as additional insured for the full insured amount. 6.02 Indemnity: Lessee agrees to indemnify and hold Lessor harmless from and against any and all claims and demands (unless resulting from the negligence of the Lessor, its agents, contractors, servants, or employees) for or in connection with, any accident, injury or damage whatsoever caused to any person or property arising, directly or indirectly, out of the business conducted on the Premises leased herein or occurring in, on or about said Premises or any adjacent area under the control of the Lessee or arising directly or indirectly, from any act or omission of Lessee or subtenant or their respective servants, agents, employees, or contractors, and from and against any and all costs, expenses, and liabilities incurred in connection with any such claim or proceeding brought thereon. 6.03 Non-Liability: Lessor shall not be responsible or liable to Lessee for any loss or damage that may be occasioned by the acts or omissions of persons occupying any property Lessee’s InitiaI Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, U.S. Virgin Islands Multi- Year Agreement adjacent to or adjoining the Premises, or any part thereof, or for any loss or damage resulting to Lessee or its Premises from water, gas, steam, fire, or the bursting, stoppage, or leaking of pipes, provided such loss or damage is not occasioned by the negligence of Lessor or its agents, contractors, or employees. 6.04 Fire and Extended Coverage by Lessee: Lessee shall keep all buildings on the Premises insured against loss or damage by fire and earthquake with the usually extended coverage endorsements, in amounts not less than eighty percent (80%) of the full insurable value thereof, above foundation walls. A copy of all insurance policies shall be delivered to the Lessor within twenty (20) days of receipt of its Occupancy Certificates for the Premises. All policies shall name the Lessor as the loss payee. 6.05 Environmental Limitation ofLiability and Indemnity: Under no circumstances shall Lessee be held responsible for any hazardous materials or contamination that existed on the Premises prior to Lessee’s occupancy or which are caused by the negligence of Lessor or its employees, agents, or contractors. Lessor shall indemnify, defend, and hold Lessee harmless to the fullest extent permitted by applicable law from and against all damages, claims, causes of actions, fines, penalties, including without limitation costs of remediation, which result from hazardous materials or contamination of any kind which existed on the Premises prior to Lessee’s occupancy or which are caused by the negligence of Lessor or its employees, agents, or contractors. The indemnification obligations of Lessor created by this section shall survive the expiration or termination of the Term or any Option Term herein. ARTICLE VII ENTRY BY LESSOR 7.01 Access to Premises: Lessor or Lessor’s agents shall have the right to enter upon the Premises at all reasonable times to examine the same and to show them to prospective purchasers, lenders, or lessees. 7.02 Easement for Pipes and Water Storage Tank Facility: Lessee shall permit Lessor or its designees to erect, use, maintain, and repair pipes, water storage tank facility, cables, and wires, on or through the Premises as and to the extent that Lessor may or hereafter deem to be necessary or appropriate. All such work shall be done, so far as practicable, in such manner as to avoid interference with Lessee’s use of the Premises. Lessee’s Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, U.S. Virgin Islands Multi- Year Agreement ARTICLE VIII CONDEMNATION 8.01 Notice of Condemnation: The party receiving any notice of the kind specified below which involves the Premises shall promptly give the other party notice of the receipt, contents, and date of the notice received, which shall include: a. Notice of Intent of Taking. b. Service of any legal process relating to condemnation of the Premises for improvements. c. Notice in connection with any proceedings or negotiations with respect to such a condemnation. 8.02 Rights of Lessor and Lessee: Lessor and Lessee shall each have the right to represent its respective interest in each proceeding or negotiation with respect to a taking or intended taking and to make full proof of its claims. No agreement, settlement, sale, or transfer to or with the condemning authority shall be made without the consent of both parties. Lessor and Lessee each agree to execute and deliver to the other any instrument that may be required by the provisions of this Lease relating to the condemnation. 8.03 Taking of Leasehold: Upon the total taking, Lessee’s obligation to pay rent and other charges hereunder shall terminate on the date of taking, or possession is given, whichever is earlier, but Lessee’s interest in the leasehold shall continue until the taking is completed by deed, contract, or final order of condemnation. 8.04 Total Taking: Upon a total taking, all sums, including damages and interest awarded for the fee, leasehold, or both, shall be distributed and disbursed as Lessor and Lessee may agree, or in the absence thereof, in accordance with the laws of the Virgin Islands. 8.05 Partial Taking: Upon a partial taking, all sums, including damages and interest awarded for the fee, leasehold, or both, shall be distributed and disbursed to Lessor and Lessee as they may agree or, in the absence thereof, in accordance with the laws of the Virgin Islands. Upon a partial taking, Lessee shall have the option of terminating this Lease upon thirty (30) days’ notice to Lessor. ARTICLE IX CANCELLATION, TERMINATION. ASSIGNMENT, AND TRANSFERS 9.01 Cancellation: This Lease shall be subject to cancellation by Lessor in the event Lessee shall: Lessee’s Initials Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, US. Virgin Islands Multi- Year Agreement A. Be in arrears in the payment of the whole or any part of the amount agreed upon hereunder for a period of forty-five (45) days after the Lessor has notified the Lessee in writing that payment was not received when due. B. File in court a petition in bankruptcy or insolvency or for the appointment of a receiver or trustee for all or a portion of Lessee’s property. C. Make any general assignment for the benefit of creditors. D. Abandon the Premises by not occupying the Premises for a period of ninety (90) days without notice to the Lessor and failing to pay rent during that ninety (90) day period. E. Default in performance of any of the covenants and conditions required herein (except rent payments) to be kept and performed by Lessee, and such default continues for a period of forty-five (45) days after receipt of written notice from Lessor to cure such default unless, during such forty-five (45) day period, Lessee shall commence and thereafter diligently perform such action as may be reasonably necessary to cure such default. If default by Lessee in the performance of its obligations hereunder is precipitated in whole or in part by activities for which Lessor is solely responsible, the period herein established to commence a cure for the said default will be extended for a reasonable period to account for the effect of Lessor’s activities. F. Be adjudged bankrupt in involuntary bankruptcy proceedings. G. Be made a party of any receivership proceeding in which a receiver is appointed for the Premises or affairs of Lessee, where such receivership is not vacated within sixty (60) days after the appointment of such receiver. H. Fail to pay the outstanding assessed real property taxes for two (2) years on improvements Lessee constructed upon the Premises. In any of the aforesaid events, Lessor may take immediate possession of the Premises and remove Lessee’s effects, to the extent permitted by law, without being deemed guilty of trespassing. Failure of Lessor to declare this Lease terminated upon the default of Lessee for any of the reasons set out shall not operate to bar or destroy the right of Lessor to cancel this Lease by reason of any subsequent violation of the terms of this Lease. 9.02 Termination: This Lease shall terminate at the end of the Lease term or last exercised Renewal Term. 9.03 Repossessing and Re-letting: In the event of default by Lessee hereunder, which shall remain uncured after the required notices have been given pursuant to this Lease and for Lessee’s InitiaI Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southsicle Quarter, St. Thomas, US. Virgin Islands Multi- Year Agreement such time as provided herein, Lessor may at once thereafter, or at any time subsequent during the existence of such breach or default: A. Enter into and upon the Premises or any part thereon and repossess the same, expelling therefrom Lessee and all personal property of Lessee (which property may be removed and stored at the cost of and for the account of Lessee), to the extent permitted by law. B. Either cancel this Lease by notice or, without canceling this Lease, re-let the Premises or any part thereof upon such terms and conditions as shall appear advisable to Lessor. If Lessor shall proceed to re-let the Premises during any month or part thereof, at less than the rent due and owing from Lessee during such month or part thereof under the terms ofthis Lease, Lessee shall pay such deficiency to Lessor upon calculation thereof provided Lessor has exercised good faith in the terms and conditions of re-letting. Payment of any such deficiencies shall be made monthly within ten (10) days after receipt of the deficiency notice. Ifany suit or action is brought by Lessor against the Lessee to enforce any ofthe provisions of this Lease, the Lessor shall be entitled to collect reasonable costs and attorney’s fees in the action or proceeding. 9.04 Assignment and Transfer: Lessee will not assign or transfer this Lease or any interest therein, without the prior written consent of Lessor, which shall not be unreasonably withheld. Any consent of any assignment shall not be deemed consent to any subsequent assignment. 9.05 Subleasing: Lessee shall not sublet the Premises in whole or in part without Lessor’s advance written consent, which shall not be unreasonably withheld, delayed, or conditioned. Lessee shall present all subleases to Lessor for its written consent; however, ifLessor fails to disapprove any sublease in writing within five (5) business days, then such sublease shall be deemed consented to by Lessor without Lessor’s written consent. If Lessor disapproves of any sublease, Lessor shall advise Lessee with reasonable specificity of the reasonable grounds upon which Lessor is withholding its consent. Lessor’s consent does not release Lessee from any of its obligations under this lease. In the event that the Lessor consents to sublease the Premises or any part thereof, as a part of the consideration for the Lessee’s Improvement to the premises in this agreement, Lessee shall pay to the Lessor an additional amount of: a. Five percent (5%) of all base rent actually collected monthly by Lessee per month, from the first (1st) year through the fifth (5th) year of the Initial Term. b. Ten percent (10%) of all base rent actually collected monthly by Lessee per month, from the sixth (6th) year through the tenth (lOth) year of the Initial Term. Lesse&s InitiaI Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, US. Virgin Islands Multi-Year Agreement c. Fifteen percent (15%) of all base rent actually collected monthly by Lessee per month, from the eleventh (11th) year through the fifteenth (15th) year ofthe Initial Term. d. Twenty percent (20%) of all base rent actually collected monthly by Lessee per month, from the sixteenth (1 6th) year through the twentieth (20th) year of the Initial Term. e. Twenty-five percent (25%) of all base rent actually collected monthly by Lessee per month, from the twenty-first (21st) year through the thirtieth (3Oth) year of the Initial Term. f. Thirty percent (3 0%) of all base rent actually collected monthly by Lessee per month, after the thirtieth (30th) year and continuing through the renewal terms. This additional rent shall be due and payable on the next rent day after such subletting rent becomes due from the subtenant. ARTICLE X GENERAL TERMS AND CONDITIONS 10.01 Notices: All notices provided to be given under this Lease shall be given by certified or registered mail, return receipt requested, postage ftilly prepaid, addressed to the proper party at: LESSOR: Department of Property and Procurement 8201 Subbase, Suite 4 St. Thomas, Virgin Islands, 00802 LESSEE: Commercial Investments, LLC P.O. Box 9626 Charlotte Amalie St. Thomas, Virgin Islands, 00801 The address of either party may be changed from time to time by giving written notice to that effect. 10.02 Non-discrimination: Lessee, in exercising any of the rights or privileges granted by this Lease, shall not, on the grounds of race, color, creed, sex, or national origin, discriminate or permit discrimination against any person. 10.03 Officials not to Benefit: No member ofthe U.S. Congress or the Territorial Legislature, no official or officer of the United States or the Virgin Islands Government, or any of their instrumentalities shall be admitted to any share of this Lease or any benefit of value that may arise therefrom. Lessee’s Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, US. Virgin Islands Multi- Year Agreement 10.04 Agreement made in the Virgin Islands: The laws of the U.S. Virgin Islands shall govern the validity, performance, and enforcement of this Lease. 10.05 Counterparts: This document is executed in one part, which shall be deemed an original. 10.06 Cumulative Rights and Remedies: All rights and remedies ofLessor here enumerated shall be cumulative, and none shall exclude any other right or remedy allowed by law. Likewise, the exercise by Lessor of any remedy provided for herein or allowed by law shall not be to the exclusion of any other remedy. 10.07 Interpretation: Words of gender used in this Lease shall be held to include the singular, plural, and vice versa unless the context otherwise requires. 10.08 Agreement Made in Writing: This Lease contains all agreements and conditions made between the parties hereto and may not be modified orally or in any manner other than by agreement in writing signed by the parties hereto or their respective successors in interest. 10.09 Paragraph Headings: The table of contents of this Lease and the captions of the various articles and paragraphs ofthis Lease are for convenience and ease of reference only and do not affect the scope, content, or intent of this Lease or any part or parts of this Lease. 10.10 Invalidity or Illegality of Provisions: The invalidity or illegality of any provisions shall not affect the remainder of this Lease. 10.11 Successors and Assigns: All terms, provisions, covenants, and conditions of this Lease shall inure to the benefit of and be binding upon Lessor and Lessee and their successors and assigns. 10.12 Broker: Lessee covenants, warrants, and represents that there was no broker instrumental in consummating this Lease and that no conversations or prior negotiations were had with any broker concerning the renting of the Premises. Lessee agrees to hold harmless Lessor against any claims for brokerage commission arising out ofany conversation or negotiation had by Lessee with any broker. 10.13 Approvals Required: This Lease will not become effective unless approved by the Governor and the Legislature of the Virgin Islands. 10.14 Entire Agreement: This Lease constitutes the entire agreement of the Parties relating to the subject matter addressed herein. This Lease supersedes all prior communications or agreements between the Parties with respect to the subject matter herein, whether written or oral. Lessee’s InitiaIs Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, US. Virgin Islands Multi- Year Agreement 10.15 Conflict of Interest: Lessee covenants that it has no interest and will not acquire any interest, direct or indirect, which would conflict in any manner or degree with the performance of its obligations under this Lease. a. Lessee further covenants that it is: 1. not a territorial officer or employee (i.e., the Governor, Lieutenant Governor, member of the Legislature, or any other elected territorial official; or an officer or employee of the Legislative, Executive, or Judicial branch of the Government or any agency, board, commission, or independent instrumentality of the Government, whether compensated on a salary, fee, or contractual basis); or 2. a territorial officer or employee and, as such, has: i. familiarized itself with the provisions of Title 3 Chapter 37, Virgin Islands Code, pertaining to conflicts of interest, including the penalties provisions set forth in Section 1108 thereof; ii. not made, negotiated, or influenced this contract, in its official capacity; and iii. no financial interest in the contract as that term is defined in Section 1101 of said Code chapter. 10.16 Rights of Holder of the Leasehold Mortgage: Notwithstanding anything to the contrary herein contained, Lessor agrees that in the event that Lessee secures a leasehold mortgage and thereafter defaults in the performance, of any of the terms and conditions of this Lease, Lessor will give notice of such default to any holder of the leasehold mortgage (where Lessor has been notified of the identity of the leasehold mortgagee) and a like notice of the default to the Lessee. The Lessee or the holder of the leasehold mortgage shall have the right to remedy any such default within a period of forty-five (45) days from the date the notice is mailed by registered or certified mail, return receipt requested, to the holder ofthe leasehold mortgage and the Lessee. In every case where the holder of the leasehold mortgage elects to acquire possession of the Premises or to foreclose the leasehold mortgage, such holder shall, prior to the acquiring possession or the foreclosing of the leasehold mortgage, (i) give Lessor the right offirst refusal to purchase and assume Lessee’s leasehold mortgage interest and obligation, or (ii) to provide a purchaser for Lessee’s leasehold mortgage interest and obligation. The Lessor shall exercise the rights herein set out within one hundred twenty (120) days from the date the Lessor is notified by the holder ofthe leasehold mortgage that these rights may be exercised. In the event that this Lease is terminated, Lessor may enter into a new lease ofthe Premises with the holder of the leasehold mortgage, or its designee, within thirty (30) days after Lessee’s Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, U.S. Virgin Islands Multi- Year Agreement receipt of such request, which new lease will be effective as of the date of such termination of this Lease and shall run for the remainder of the same term, and subject to the same covenants, conditions, and agreements; provided that the holder ofthe leasehold mortgage, or its designee, (i) contemporaneously with the delivery of the such request, pay to the Lessor all the installments of basic rent and all other items of additional rent which would have been due for the Lessee had the Lease not been terminated and (ii) all sums due from the date of termination to the date of execution of the new lease. 10.17 Compliance with Laws: Lessee shall comply with all laws and regulations of the U.S. Government and the Government of the Virgin Islands, including but not limited to zoning, Coastal Zone Management (CZM), building codes, environmental, and the American Disabilities Act (ADA). The Lessee shall obtain all licenses, permits, and any required re zoning of the Premises and to do business in the Virgin Islands as required. 10.18 Waiver: Waiver by Lessor of any breach of any term, condition, or covenant of this Lease shall not be deemed to be a waiver ofany subsequent breach ofthe same or any other terms, conditions, or covenants of this Lease. No delay or omission to exercise any right or power hereunder shall impair any right or power of the Lessor; every right and remedy conferred under this Lease may be exercised from time to time and as often as may be deemed expedient by the holder of such right or remedy. 10.19 Enforcement of Lease Terms: Waiver by either party of any breach of any term, condition, or covenant of this Lease, during the term of this Lease, shall not be deemed to be a waiver of any subsequent breach of the same or any term, condition, or covenant of this Lease. No delay or omission to exercise any right or power shall be construed to be a waiver of any such right or power, and every right and remedy conferred under this Lease may be exercised from time to time and as often as may be deemed expedient by the holder of such right or remedy. LINTENTIONALLY LEFT BLANK - SIGNATURES FOLLOW] Lessee’s Commercial Investments, LLC Parcel No. 30 Submarine Base, No. 6 Southside Quarter, St. Thomas, US. Virgin Islands Multi- Year Agreement IN WITNESS WHEREOF, the parties herein have hereunto set their hands and seals on the day and year first above written. WITNESSES: /tr Ilo(1er, (Print) (Sign5 SLt0 LJ0L’ (Print) Territory of the Virgin Islands District of St. T’homas/St. John ACKNOWLEDGEMENT ) ) ss: r Before me personally appeared Judy Sherma Perez-Ferdinand, Member of Commercial Investments, LLC, to me well known, or proved to me through satisfactory evidence to be the individual(s) described in and who executed the foregoing instrument for the purposes therein contained. WITNESS my hand on this Gç1\ day of nOJ1S A.D.20&i Notary Public Laverne L. Francis Notary Public St. Thomas/St. John, USVI District N P.464-2 I My Conurnssion Expirea; June 22, 2029 BY: EXHIBIT A “ ‘ ‘ \ ‘ \ \ ‘ ‘ ‘ ‘ 0 I. V / \, ZONING CERTIFICATION GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES 0 DEPARTMENT OF PLANNING AND NATURAL RESOURCES 4611 Tutu Park Mall 45 Mars Hill, Frederiksted Suite 300, 2n11 Floor St. Croix, VI 00840 St. Thomas, VI 00802 (340) 773-1082 (340) 774-3320 dpnr.vi.gov Division of Comprehensive and Coastal Zone Planning ZONING CERTIFICATION This will certify that Parcel No. 30 Submarine Base/Estate Nisky, No. 6 Southside Quarter, St. Thomas is zoned 1-2 (Light Industry) as per Act No. 3373 (attached). The proposed use of the premises for a logistical storage warehouse and for other related purposes is permitted in the 1-2 district under “Warehouse & Storage Services (General).” The list of permitted uses and development provisions for the 1-2 zoned district can be found in Virgin Islands Code, Title 29, Chapter 3, Subchapter 1, §228 and 229 (https://Iegvi.org/vi code). GOVERNING AUTHORITY: Department of Planning and Natural Resources Government of the U.S. Virgin Islands Researched and Certified By: Name: Leia LaPlace . Title: Territorial Planner Date: May 29, 2025 Phone: 340-773-1082 ext. 2215 Email: leia.laplace@dpnr.vi.gov Act No. 1371 VIRGIN ISLANDS SESSION LAWS 1972 (BILL 5659) No. 3371 (Approved February 8, 1973) To Amend Act No. 3329 (Bill No. 5633) “An Act To Provide Appropriations From the Virgin Islands Conservation Fund for the Fiscal Year July 1, 1972, to June 30, 1973”. Be it enacted by the Legislature of the Virgin Islands: Section 1. Act No. 3329 (Bill No: 5633), An Act To Provide Appropriations From the Virgin Islands Conservation Fund for the Fiscal Year July 1, 1972, to June 30, 1973, is amended by the addition of a new section as follows: “Section 2. The funds appropriated herein shall remain avail abie until expended.” Approved February 8, 1978. (BILL 5661) No. 3372* (Approved February 8, 1973) To Amend Title 3, Virgin Islands Code, Section 712(a) Relating to Death Benefits Provision for Government Employees. Be it enacted by the Legislature of the Virgin Islands: Section 1. Title 3, Virgin Islands Code, section 712(a) is amended by deleting from the second clause of the first sentence thereof immediately preceding the word annuity, the word “an”, and sub stituting in lieu thereof the word “no”. Approved February 8, 1973. (BILL 5602) No. 337.V’ (Approved Febrnori 8, 1972) ‘To Amend Act No. 3284, the Zoning Law for the Virgin Islands. Be it enacted by the Legislature af the Virgin Islands: * Enacted as part of the Sixth Special Session. - - ?.%,,, V — 1972 REGULAR SESSION Act No. 3374 Section 1. Zoning District Maps STZ-4 and STZ-5 are hereby amended by removing from the I-i, Heavy Industry Zones Parcels 1, 3, 4, 5, 5a, 6a, 19, 22, 24, 25, 26, 30, 30a, 36, 65, 94, 95, 97, 110, 123, 129, 133, and 134 and such other vacant land which falls within the newly designated southein and westein boundaries of the I Zone, now shov n on Maps STZ-4 and STZ 5, and placing em in the I 2 Light Industiy Zone Section 2. Zoning District Map STZ-10 is .hereby amended to J include the remainder of Parcel 41-5, Frydenhoj in the W-1, Water f front Pleasure Zoning District. — Section 3. For purposes of this Act only, a determination having been made by the Legislature that all interested persons have been notified and given an opportunity to appear and testify at a hearing held in the Virgin Islands Planning Office and that the testimony at such hearing was strongly in favor of the zoning amendments con 1tained in sections 1 and 2 of this Act, the provisions and require ments of Title 29, chapter 3, sections 238 and 239, Virgin Islands Code, are hereby waived. Approved February 8, 1973. (BILL 5670) No. 3374*’ (Approved Febnuvr 8, 1973) To Approve the Workable Program Certification in Accordance With the Provisions of the Federal Housing Act of 1946, as Amended. WHEREAS the I-lousing Act of 1946, as amended, requires as a condition of Federal financial assistance in renewal and housing programs, the submission of a workable program for community improvement, which shall include an official plan of action for effectively dealing with the problem of urban slums and blight within the community and for -the establishment and preservation of a well-planned community; and WHEREAS the aforesaid Housing Act requires further that the aforesaid workable program be approved by the Governing Body and the Chief Executive of the Community; Now, Therefore, SUPPORTING BUSINESS DOCUMENTS ( x ) Financial Statements! Business Plan (X ) Business License Expires: 2/28/2026 (N/A) Certificate of Liability Insurance (if already on property) Expires: N/A (N/A) Articles of Incorporation ( x ) Articles of Organization ( N/A) Certificate of Limited Partnership ( N/A) Tradename Certificate (if applicable) Expires: N/A ( X ) Corporate Resolution! Memo Authorizing Signature Dated: 3/26/2025 Expires: N/A (x ) Certificate of Good Standing Dated: 03/12/2025 Expires: 06/30/2025 (N/A ) Certificate of Existence Dated: N/A Expires: N/A COMMERCIAL INVESTMENTS, LLC RECOVERY LOGISTICS Executive Summary Overview: Commercial Investments, LLC (Recovery Logistics) a locally owned business proposes to enter into a long-term (ease agreement with the Government of the US Virgin Islands for Parcel No. 95 Subbase, for the renovation and repurposing of a undermaintained building into an upgraded logistics and distribution center. Strategically located in Subbase, St. Thomas this facility will meet an ever-growing demand for logistical services, secured climate-controlled storage and distribution capacity -driven by hurricane disaster recovery reconstruction. Specifically, to support contractors during hurricane recovery construction adds a strong social and economic mission to the project. This project will renovate an undermaintained building into a logistics warehouse to serve as a critical hub for disaster recovery and construction supply staging. Objectives: • Renovate and modernize the approximately 7,000 sq. ft. structure. • Equip the facility with a sustainable and scalable warehousing systems. • Lease or operate as a multi-client logistics hub. • Reach full operational capacity within 12-18 months. Funding Requirement: Total estimated Equity investment $1 2 miLLion Company Overview Company Name: Commercial Investments, LLC (an eventual DBA name: Recovery Logistics) Legal Structure: Limited Liability Company Founded: 2025 Location: St. Thomas, US Virgin Islands Team: Contractors, Industry experts in logistics and Project Management. Mission: To revitalize undermaintained and underutilized real estate and transform it into critical logistics infrastructure for the disaster recovery supply chain. Market Opportunity Market Demand: . Increasing local logistics demands. • logistics hubs are in short supply. • Increasing pressure on existing distribution networks. Target Market: • Recovery Contractors • Third-party logistics (3PL) providers • SatelLite distribution points • Cold storage and freight forwarding firms (optional expansion) Location Advantage: • Close proximity to highway, airports & seaports, or the island center. • Reduced last-mile delivery costs for tenants or operators. Project Description Current Status: • Derelict building acquired/lease agreement is under negotiation. • Structurally sound but requires major roofing, electrical, plumbing and HVAC upgrades. • Site has favorable zoning and logistics access. Renovation PLan IncLudes: • Full structural restoration (roof, rollup doors, fireproofing) • Installation of modern racking system • IT infrastructure: Smart inventory system • Security & Surveillance system • Exterior Lighting and Fencing • Exterior improvement for vehicle access and parking • Container loading dock • Emergency Generator (and optional Solar panels with battery) installation Estimated Renovation TimeLine: 12—24 months Contractors & Partners: General Contractors, Freight Forwarder, Customs Broker FinanciaL PLan Budget Overview: Category Estimated Cost Structural Renovation $600,000.00 Equipment & Infrastructure $600,000.00 Contingency (20%) $400,000.00 Category Estimated Cost Total $1.6M Revenue Streams: • Long-term contracts (anchor clients) • Short-term flexible space rentals • Value-added services (inventory management, cross-docking) • Custom Brokerage services • Freight handling, Trucking and Delivery Services Projections (First 3 Years): • Year 1: $620k revenue / Net loss (due to capex) • Year 2: $1 M revenue! $200k profit • Year 3: $2M revenue ! $500k profit (ROl expected within 6—8 years) Competitive Advantage • Unique location in underserved Logistics zone . Customization for client specific needs • Scalable operations model • Sustainable and tech-forward infrastructure • Flexibility: long-term lease agreement + agile space for seasonal surges Risk Analysis & Mitigation Risk Mitigation Strategy Renovation Delays Pre-approved contractors, buffer in timeline Cost Overruns 20% contingency, experienced project managers Aggressive pre-agreements, multiple market Business Slowdown segments Regulatory Hurdles Experienced local consultants and legal oversight ConcLusion Commercial Investments, LLC (Recovery Logistics) presents an opportunity to create lasting value by repurposing this underutilized real estate into a high-demand logistics facility. With strong market fundamentals, a capable team, and a clear roadmap, the project is positioned for sustainable success. Trade Name: C( P.O.B0X9626 / CHARLOTTE AMALIE ST. THOMAS VI 00801 Address PARCEL #30 SUBMARINE BASE #6 SOUTHSIDE QTR CHARLOTTE AMALIE As provided by law, the authorized liceii hereunder, upon finding, after notice a interest; provided, that any persons a same by the Territorial Court upon all decisions of this office hereunc arrived at by fraud or illegal means. THE GOVERNMENT OF THE VIRGIN ISLANDS DEPARTMENT OF LICENSING AND CONSUMER AFFAIRS BUSINESS LICENSE KNOW ALL BY THIS PRESENT C( . . . . That, in accordance with the applicable provisions of Title 3 Chapter 16 and Title 27 V.1.C. relating to the licensing of I businesses and occupainn, and c mpliance l ions of 10 V.I.C. Sec. 41 relating to he Civil Rights Act Licensee: ing Address / ‘ Types of License(s) LRental of Commercial Space ‘ hate the power to revoke or suspend any License issued that such revocation or suspension is in the public of this office shall be entitled to a review of the within () days from the date of the decision; provided, further, [I be final except upon specific findings by the Court that the same was a renewal is desired, the holder is responsible for making application for same without any notice from this office. It s the re ponsibility of the Licensee to notify the Department in writing within (30) days when a license is to I c placed in inactive status. Failure to do so will result in the assessment of penalties as authorized by law. E2ZQ2Z Valid from rinted on Issued at :ee 0210412025 until 0212812026 0210412025 St. Thomas,V.l. 130.00 THIS LICENSE MUST BE PROMINENTLY DISPLAYED AT PLACE OF BUSINESS H. Nathalie Hodge Commissioner, Department of Licensing and Consumer Affairs Business Entity No. DCO13 1551 Government of The United States Virgin Islands -0- Qffice ofthe Lieutenant Governor Division ofCorporations & Trademarks CERTIFICATE OF GOOD STANDING To Whom These Presents Shall Come: I, the undersigned Lieutenant Governor the United States Virgin Islands, do hereby certify that COMMERCIAL INVESTMENTS, LLC has filed in the Office of the Lieutenant Governor the requisite annual reports and statements as required by the Virgin Islands Code, and the Rules and Regulations of this Office. In addition, the aforementioned entity has paid all applicable taxes and fees to date, and has a legal existence not having been cancelled or dissolved as far as the records of my office show. Wherefore, the aforementioned entity is duly formed under the laws of the Virgin Islands of the United States, is duly authorized to transact business, and, is hereby declared to be in good standing as witnessed by my seal below. This certificate is valid through June 30th, 2025. Entity Type: Domestic Limited Liability Company Entity Status: In Good Standing Registration Date: 01/21/2025 Jurisdiction: United States Virgin Islands, United States Witness my hand and the seal of the Government of the United States Virgin Islands, on this 12th day of March, 2025. //A Tregenza A. Roach Lieutenant Governor United States Virgin Islands 031220250141 THE UNITED STATES VIRGIN ISLANDS USVI Lieutenant Governor Filed: January 21,2025 11:49 AM BID: DC0131551 Articles of Organization COMMERCIAL INVESTMENTS, LLC (DC0131551) General Details Handling Option Delayed Effective Date Type of Limited Liability Company Proposed Company Name Select a Reserved Name COMMERCIAL INVESTMENTS, LLC Business Addresses Standard Processing Limited Liability Company No Physical Address Principal Office or Place of Business Mailing Address Mailing Address Business Details Term Nature of Business/Purpose Additional Purpose Details: Amount of Capital Managed By Members Liability #18b-2 Lindberg Bay Estate, St Thomas, United States Virgin Islands, 00802, United States P.O. Box 9624, Charlotte Amalie, United States Virgin Islands, 00801, United States Perpetual Other, Other RENTAL OF COMMERCIAL SPACE 1,000.00 Member Managed Members are not liable Generated on January 21, 2025 12:09 PM 1 of4 Resident Agent Resident Agent in USVI Resident Agent Type Individual Name Covey CHARLES Physical Address #18b-2 Lindberg Bay Estate, St Thomas, United States Virgin Islands, 00802, United States Mailing Address P.O. Box 9624, St Thomas, United States Virgin Islands, 00801, United States Resident Agent Consent Form Commercial Investments.pdfOl/21/2025 11:22AM Principals Organizers Organizer 1 Individual Name Covey CHARLES Status Active Physical Address #1 8b-2 Lindberg Bay Estate, St Thomas, United States Virgin Islands, 00802, United States Mailing Address P.O. Box 9624, St Thomas, United States Virgin Islands, 00801, United States Managers/Members Generated on January 21, 2025 12:09 PM 2 of 4 Manager/Member Individual Name Covey CHARLES Status Active Physical Address #1 8b-2 Lindberg Bay Estate, St Thomas, United States Virgin Islands, 00802, United States Mailing Address P.O. Box 9624, St Thomas, United States Virgin Islands, 00801, United States Position Member Signature(s) Name COVEY CHARLES Position Organizer Date January 16 2025 I DECLARE, UNDER Yes PENALTY OF PERJURY, UNDER THE LAWS OF THE UNITED STATES VIRGIN ISLANDS, THAT THIS OFFICER HAS AGREED BY RESOLUTION TO THE CHANGES MADE IN THIS APPLICATION. Daytime Contact Name Mrs. JUDY SHERMA PEREZ FERDINAND Telephone (1) 340-642-3131 Email jaysperezenterprisesgmail.com I DECLARE, UNDER Yes PENALTY OR PERJURY, UNDER THE LAWS OF THE UNITED STATES VIRGIN ISLANDS THAT ALL STATEMENTS CONTAINED IN THIS APPLICATION, AND ANY ACCOMPANYING DOCUMENTS, ARE TRUE Generated on January 21, 2025 12:09 PM 3 of 4 AND CORRECT, WiTH FULL KNOWLEDGE THAT ALL STATEMENTS MADE IN THIS APPLICATION ARE SUBJECT TO INVESTIGATION AND THAT ANY FALSE OR DISHONEST ANSWER TO ANY QUESTION MAY BE GROUNDS FOR DENIAL, SUBSEQUENT REVOCATION OF REGISTRATION, OR OTHER FINES AND PENALTiES PURSUANT TO THE FRAUDULENT CLAIMS STATUTE AS SET FORTH IN 14 V.I.C. § 843. Generated on January 21. 2025 12:09 PM 4 of 4 COMMERCIAL INVESTMENTS. LLC RESOLUTION OF UNANIMOUS WRITTEN CONSENT I, Covey Charles, Commercial Investments, LLC, a Limited liabiLity company duLy organized in the Virgin IsLands and in good standing, herebycertifies that by Unanimous Written Consent of the officers of CommerciaL Investments, LLC in Lieu of a meeting, the officers have adopted the foLlowing resoLution, which has not been modified or rescinded: RESOLVED, that Commercial Investments, LLC is authorized to enter into a Lease Agreement with the Government of the Virgin Islands Department of Property and Procurement (DPP) for Parcel No. 30 Submarine Base, #6 Southside QTR, St. Thomas, Virgin Islands. RESOLVED, that the Corporation hereby authorizes Judy Sherma Perez — Ferdinand managerto sign the Lease Agreement, submit aLL required documents, and take all such other steps as may be necessary to effectuate said Lease Agreement with Department of Property and Procurement (DPP) Covey Charles Member Date:________ Subscribed and sworn to before me this ________day of Covey Charles 2. —— PROOF OF OWNERSHIP (X ) Deed (N/A) Map (if referenced in deed) (N/A) Title and Encumbrance Certificate 1965 FWEENTH SPECIAL SESSION Act No. 2375 (Bill 3863) No. 2375 (Approved December 24, 1968) To Create the Virgin Islands Port Authority; To Authorize the Issuance of Bonds for the Port Authority, and for Other Purposes. Be it enacted by the Legislature of the Virgin Islands: Section 1. A new chapter 9 is added to Title 29 of the Virgin Islands Code, as follows: Chapter 9. Virgin islands Port Authority Subchapter I. Declaration of Policy and Definitions § 501. Declaration of policy (a) The powers conferred by this chapter are for public uses and purposes and are proper governmental functions for which public money may be expended, private property may be acquired, by eminent domain or otherwise, property may be exchanged, leased, mortgaged, assigned, sublet, or sold, and bonds or other obligations may be issued pursuant to section 8(b) of the Revised Organic Act of the Virgin Islands, as amended, or any other such authority as may hereafter be conferred by Federal Law, or by the laws of the Virgin Islands. (b) The provisions enacted in this chapter are hereby declared to be necessary in the public interest, and the facilities herein au thorized are declared to bpublic improvements and public undex takings. § 502. Definitions (a) The term “Authority” shall mean the Virgin Islands Port Authority created by this chapter. (b) The term “Board” shall mean the Governing Board of the Authority. (c) The term “Bonds” shall mean the bonds, temporary bonds, funding bonds, debentures, notes, interim bonds, receipts, cer tificates, or other evidences of indebtedness or obligations which are authorized to be issued by this chapter, but shall not include the debts or accounts incurred in the usual course of business for expenses of the Authority. 389 11 I fill) 4. 2 zatj Ii I I .1 I - . S.-.. . -—-II..-.-— . 1 I I I I I I Ii ill: Eli tEa II’ !Ii! I I I I 4 V I. I II I.. I I - ....: — ....a... . — II, Ii’ l’s 0’ llI II! I —Q — L-. z c5 z0 -4 i2 1:12 ‘4-4 1:42 z ‘:12 •— 1::i) 1: z 1:11 z Cz ‘4 — Act No. 2375 VIRGIN ISLANDS SESSION LAWS 1968 Subchapter III. Bonds of the Anthority § 506. Authorization of issuance; security, tax exemption; terms and conditions; etc. (a) By authority of the Government of the Virgin Islands under section 8(b) (i) of the Revised Organic Act of the Virgin Islands, as amended, which is hereby granted, the Authority may issue and sell bonds from time to time and have outstanding at any one time. exclusive of bonds issued solely for the purpose of exchanging the same in return for the cancellation of bonds either issued by the Authority or assumed by it, bonds not in excess of sixty-five million dollars, in aggregate principal amount, in addition to all sums that the Legislature of the Virgin Islands has authorized or may author ize separately for particular purposes; Provided, however, That re funding bonds of the Authority issued solely for the purpose of ap plying the proceeds thereof to the payment for, or purchase of. bonds issued by the Authority or assumed by it, shall not be in cluded in computing any such limitation until six (6) months after their sale; Provided, further, That of the total amount of bonds which may be outstanding at any one time hereunder, not less than thirty million dollars shall be available exclusively for facili ties on the Island of St. Thomas, not less than thirty million dollars shall be available exclusively for facilities on the Island of St. Croix, and not less than five million dollars shall be available exclusively for facilities on the Island of St. Joim; and Still Further Provided, That before any facility shall be financed by the issuance of bonds hereunder such facility shall be authorized by Act of the Legislature. (b) Payment of the bonds of the Authority may be secured by a pledge of or lien on all or any part of its properties, contracts, gross or net rates, fees, revenues, other income or bond proceeds to which the rights of the Authority then exist or may thereafter come into existence, or by pledge of or lien on any loan, grant, or contribution, or parts thereof, from any Federal agency, the Gov ernment of the Virgin Islands or any other source. It is tile in tention hereof that any pledge of revenues or other monies, or of a revenue-producing contract or contracts made by the Authority shall be valid and binding from the time when the pledge is made; that the revenues, or other monies or proceeds of any contract or contracts so pledged and thereafter received by the Authority shall FIFTEENTH SPECIAL SESSION Act No. 2375 immediately be subject to the lien of such pledge without any phys ical delivery thereof or further act; and that the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contracts or otherwise against the Authority irrespective of whether such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded. (c) In accordance with section 8(b) of the Revised Organic Act of the Virgin Islands, as amended, the bonds of the Authority shall be exempt as to principal and interest from taxation by the Govern ment of the United States, or by the Government of the Virgin Is kinds, or by any state, territory, or possession, or by any political subdivision of any state, territory or possession, or by the District of Columbia. (d) Bonds of the Authority shall be authorized by resolution or resolutions of the Board, and shall cdmply with all pertinent pro visions of the Revised Organic Act of the Virgin Islands, as amended, or such other provisions of applicable Federal law as may be in effect at the time. Except as otherwise provided for by said Act or other Federal law, and all laws of the Virgin Islands, bonds of the Authority may be issued in one or more series and shall bear such date or dates, mature in such amounts and at such time or times, hear interest at such rate or rates not exceeding 6 per centum per annum, payable semi-annually, be in such denomina tion or denominations, be in such form, either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed by such members or officers in such manner, __ be payable in such medium of.payment,t such-place or places. may be declared or become due at such time before the maturity date thereof, may be authenticated in such manner and upon corn r’ance with such conditions, and may contain such other terms and covenants as such resolutions or its trust indenture may provide. (e) The bonds shall be sold in such manner as permitted by the Revised Organic Act of the Virgin Islands, as amended or other applicable Federal laws or the laws of the Virgin Islands, at such price as the Authority may determine. (f) In case any of the members or officers of the Authority whose signatures appear on any bonds or coupons shall cease to be such members or officers before the delivery of such bonds, 1968 896 zC N U) N0 U) z f.. U) z0 Cl) CI) CI) U) z CI) z Act No. 2375 VIRGIN ISLANDS SESSION LAWS 1968 under the laws of the United States or of the Virgin Islands or any state, and limit the liabilities thereof; and provide the terms and conditions upon which the holders of the bonds or any proportion of them may enforce any covenant or rights securing or relating to the bonds; and (k) exercise all or any part or combination of the powers herein granted; make covenants and to do any and all such acts and things not inconsistent with this chapter as may be necessary and desirable in order to secure its bonds, or as may tend to make the bonds more marketable notwithstanding that such covenants, acts or things may not be enumerated herein. § 508. Right to receivership upon default (a) The Authority is authorized to covenant for the right to receivership upon default as hereinafter set forth in paragraphs (b) to (f) inclusive, or to limit such right by definition of default or otherwise, in its agreement with the bondholders. (b) In the event that the Authority shall default in the payment of the principal of, or interest on, any of its bonds after the same shall become due, whether it be a default in the payment of the principal and interest or in the payment of interest only at matu rity or upon call for redemption, and such default shall continue for a period of thirty (30) days, or in the event that the Authority or the Board, officers, agents, or employees thereof shall default on any agreement made with the holders of the bonds, any holder or holders of the bonds (subject to any contractual limitation as to a specific percentage of such holders), or trustee therefor, shall have the right to apply in an appropriate judicial proceeding to any Court of competent jurisdiction in—the Virgin Islands for the appointment of a receiver of the facilities, the income or revenues of which are pledged to the payment of the bonds so in default, whether or not all the bonds have been declared due and payable and whether or not such holder, or trustee therefor is seeking or has sought to enforce any other right or to exercise any remedy in connection with such bonds. Upon such application and showing the court may appoint, and if the application is made by the holders of twenty-five (25%) per centum in principal amount of such bonds then outstanding or by trustee for holders of bonds in such principal amount, shall appoint a receiver of such facilities. (c) The receiver so appointed shall forthwith, directly or by his agents and attorneys, enter into and upon and take possession of FIFTEENTH SPECIAL SESSION Act No. 2S75 such facilities and may exclude the Authority, its Board, officers, agents, and employees and all persons claiming under them, wholly iierefrom and shall have, hold, use, operate, manage, and control the same, and, in the name of the Authority or otherwise, as the receiver may deem best, shall exercise all the rights and powers of the Authority with respect to such facilities as the Authority itself might do. Such receiver shall maintain, restore, insure and keep insured, such facilities and from time to time shall make all repairs necessary or proper for the conservation of the facilities, shall establish, levy, maintain and collect such rates, fees, and other charges in connection with such facilities as such receiver may deem necessary, proper and reasonable, consistent with the purposes of the receivership and the purposes of this chapter. and shall collect and receive all income and revenues and deposit the same in a separate account and apply the income and revenues so collected and received in such manner as the court shall direct. (d) Whenever all that is due upon the bonds, and interests thereon, and under any of the terms of any covenants or agreements with bondholders shall have been paid or deposited as provided therein, and all defaults in consequence of which a receiver may be appointed shall have been cured and made good, the Court may, in its discretion and after such notice and hearing as it deems reasonable and proper, direct the receiver to surrender possession of such facilities to the Authority, the same right of the holders of the bonds to obtain the appointment of a receiver to exist upon any subsequent default as hereinabove provided. (e) Such receiver shall act, in the performance of the powers hereinabove conferred upon him, under the direction and supervi sion ed the Court aiid shall at all times be subject to the orders iñd decrees of the Court and may be removed thereby. Nothing herein contained shall limit or restrict the jurisdiction of the Court to enter such other and further orders and decrees as such Court may deem necessary or appropriate for the exercise by the receiver of any functions specifically set in this chapter. (f) Notwithstanding anything in this section to the contrary, such receiver shall have no power to sell, assign, mortgage, or otherwise dispose of any assets of whatever kind or character be longing to the Authority and useful for its activities, but the powers of any such receiver shall be limited to the operation and maintenance of the facilities of the Authority, and the collection 1968 400 401 Act No. 2375 VIRGIN ISLANDS SESSION LAWS 1968 1968 FWrEENTH SPECIAL SESSION Act No. 2375 and application of the income and revenues therefrom and the Court shall not have jurisdiction to enter any order or decree requiring or permitting said receiver to sell, mortgage, or other wise dispose of any such assets. § 509. Remedies of bondholders (a) Subject to any contractual limitations binding upon the holders of any issue of bonds, or trustees therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of bonds, or trustee therefor. shall have the right and power, for the equal benefit and protection of all holders of bonds similarly situated—— (1) by mandamus or other suit, action, or proceeding at law or in equity to compel the Authority and its Board, officers, agents, or employees to perform and carry out its and their duties and obligations under this chapter and its and their covenants and agreements with bondholders; (2) by action or suit in equity to require the Authority and the Board thereof to account as if they were the trustees of an express trust; (3) by action or suit in equity to enjoin any acts or things which may be unlawful or in violation of the rights of the bond holders; and (4) to bring suit upon the bonds. (b) No remedy conferred by this chapter upon any holder of the bonds, or any trustee therefor, is intended to be exclusive of any her remedy, but each-such. remedy i&cumulativeand in ad dition to every other remedy, and may be exercised without ex hausting and without regard to any other remedy conferred by this chapter or by any other law. No waiver of any default or breach of duty or contract, whether by any holder of the bonds, or any trustee therefor, shall extend to or shall affect any subsequent de fault or breach of duty or contract or shall impair any rights or remedies thereon. No delay or omission of any bondholder or any trustee therefor to exercise any right or power accruing upon de fault shall impair any such right or power or shall be construed to be a waiver of any such default or acquiescence therein. Every substantive right and every remedy, conferred upon the holder of the bonds, may be enforced and exercised from time to time as often as may be deemed expedient. In case of any suit, action or proceeding to enforce any right or exercise any remedy shall be brought or taken and then discontinued or abandoned, or shall be determined adversely to the holder of the bonds, or any trustee therefor. then and in every such case the Authority and such holder, or trustee, shall be restored to their former positions and rights and remedies as if no such suit, action, or proceeding had been brought or taken. § 510. Bonds of Authority legal investments for public or private funds The bonds of the Authority shall be lawful investment, and may be accepted as security, for all fiduciary, trust and public funds, the investment or deposit of which shall be under the authority or control of the Government of the Virgin Islands or any officer or officers thereof. § 511. Exemption of Authority from judicial process and taxes (a) All property including funds of the Authority shall be exempt from levy and sale by virtue of an execution, and no execu tion or other judicial process shall issue against the same nor shall any judgment against the Authority be a cnarge or lien upon its property; Provided, however, That this subsection shall not apply to or limit the right of bondholders to pursue any remedies for the enforcement of any pledge or lien given by the Authority on its rates, fees, revenues, or other income or any other funds. (b) The purpose for which the Authority is created and shall exercise its powers being public purposes, the property of the Au ority, its income and its activities shall be exempt from alt xes and special assessments of the Virgin Islands or any political sub division thereof. In lieu of taxes, the Authority may agree to make such payments to the Virgin Islands or any political sub division thereof as it finds consistent with the obligations of the Authority and the achievement of the purposes of this ehater. Subchapter IV. Assistance of Government of the Virgin Iskinds § 512. Assistance of Government of the Virgin Islands (a) For the purpose of aiding the Authority in carrying out the purposes of this chapter, the Governor of the Virgin Islands 4fl2 403 az z rJ2 J2 Q J2 z -- z0 z z 0 I I Ij [a I I I •-• — • - - • —— - -. - --L iii1 ii’ iii ii’ I I I z z çL zC t12 z t12 z C,,cq z -a U I I rJ C.) C Act No. 2375 VIRGIN ISLANDS SESSION LAWS Section 4. All laws or parts of laws inconsistent or in conflict with any provisions of this Act are, to the extent of such inconsis tency or conflict, repealed. Section 5. This Act shall become effective immediately except that the provisions of sections 1 and 3 shall become effective upon such date as shall be fixed by the Legislature by law after the approval of the creation of the Virgin Islands Port Authority by the Secretary of the Interior pursuant to section 16(a) of the Revised Organic Act of the Virgin Islands, as amended, is received. App-roved December 24, 1968. No. 2376 (Approved January 8, 1969) To Authorize the Participation of the Virgin Islands of the United States in the Inauguration of President Richard M. Nixon, To Make an Appropriation Therefor, and for Other Purposes. Be it enacted by the Legiskitare of the Virgin Islands: Section 1. The Governor of the Virgin Islands and the President of the Legislature are hereby authorized to arrange for appropriate representation and participation of the Virgin Islands in the inau guration of President RichardM. Nixon on January 20, 1969. Section 2. There is hereby appropriated out of the General Fund in the Treasury of the Virgin Islands, fiscal year July 1, 1968, to June 30, 1969, the sum of $17,000 for personal services, travel and transportation, and all other expenses, including the construction of an appropriate float, which sum shall be available to the Legis lature for payment of all necessary expenses to carry out the pro visions of this Act. Approved January 8, 1969. No. 2377 (Approved January 10. 1969) To Further Amend the Composition of the Virgin Islands Law Enforcement Commission. Be it enacted by the Legislature of the Virgin Islands: Section 1. Section 2, Title 3 of the Virgin Islands Code is amend ed by changing subsection (c) (1) thereof, to read as follows: “(c) The Board shall be composed of nineteen members as follows: “(1) as ex officio members, the Attorney General of the Vir gin Islands, who shall also serve as Chairman of the Board, the Commissioner of Public Safety, the Commissioner of Social Wel fare, the Commissioner of Education, the Presiding Judge of the Municipal Court, the Chairman of the Virgin Islands Parole Board, the Executive Secretary of the Virgin Islands Commission on Human Resources, the Director of the Division of Special Projects within the Office of the Governor, established by 3 V.I.C. § 22, the Executive Secretary of the Virgin Islands Commission on Youth, the Chief Probation Officer of the Virgin Islands (or the designee of any of the foregoing when such designation is approved by the Governor), and the respective Chairmen of the St. Croix, St. Thomas and St. John Citizens Advisory Committees on Law Enforcement, and the persons elected by the highest number of votes to the Board of Education in St. Croix, St. John and St. Thomas, respectively, at the most recently conducted election; and”. (BILL 3873) No. 2378 (Approved January 10, 1969) To Amend Act No. 2225 (Bill No. 3662), Seventh Legislature. Eighth Special Session 1968, Relating to the Designation and Redesignation by Name of Public Facilities in the Virgin Islands. 411 1968 1968 (BILL 3865) F1Fv1EENTH SPECIAL SESSION Act No. 2378 (BILL 3864) App-roved January 10, 1969. 410 Act No. 3056 VIRGIN ISLANDS SESSION LAWS council shall insofar as possible be geographical. No member of the council shall be a licensee under this chapter. The council shall organize, elect a chairman and thereafter meet upon call of the chairman through the Commissioner. The council shall counsel and Y advise with the Commissioner and make recommendations relative to the operation and regulation of the industry. Such advisory coun cil members as are appointed by the Commissioner shall serve without pay; however, Government per diem and travel allowances may be claimed for attendance at officially called meetings of the council as provided. § 1324. Attorney General; enforcement The Attorney General shall be attorney for the Commissioner in the enforcement of this chapter and shall conduct any investiga tions Incidental to its enforcement. § 1325. Waiver of experience requirements The Commissioner shall waive the experience requirements spec ified in section 1304 of this chapter in the case of any applicant for a license under this chapter if the applicant meets the other requirements of this chapter and if the applicant is conducting a private investigative agency or a watchman, guard or patrol agency on the effective date of this chapter. Section 2. The Act shall be effective August 1, 1971. Approved May f8, 1971. (BILL 5055) No. 3057 (Approved May 28, 1971) To Amend Title 29, Chapter 10, Relating to the Virgin Islands Port Authority. Be it enacted by the Legislature of the Virgin Islands: Section 1. Subsection (a) of section 541 of Title 29 is amended by striking out the phrase “The Governor of the Virgin Islands and the Director of the Budget” and substituting therefor the follow ing phrase: 214 1971 1971 REGULAR SESSION Act No 8057 “Any two members of his cabinet designated by the Governor” Section 2 Subsection (b) of section 541 of Title 29, Virgin Islands Code, is amended to read as follows (b) The term of office of each member shall be three years and each shall be eligible for reappointment. Any person appointed to fill a vacancy occurring prior to the expiration of the term for which a predecessor was appointed shall be appointed only for the remainder of such term Section 3. Subsection (c) of section 541 of Title 29, Virgin Islands Code, is amended to read as follows: (c) Of the said seven persons, three shall be residents of the Island of St. Thomas, three shall be residents of the Island of St. Croix, and one shall be a resident of the Island of St. John. Section 4. Subsection (c) of section 542 of Title 29, Virgin Islands Code, is amended to read as follows: (c) The Board shall appoint in addition to the Executive Direc tor of the Authority, such other officers, agents, or employees, permanent or temporary, and by contract or otherwise may employ such consulting engineers, superintendents, managers, fiscal, legal and other technical experts, as it may deem necessary and shall determine their qualifications, duties, tenure and compensation. The bylaws of the Authority may provide for the delegation to its Executive Director or its other officers, agent or employees of such of the powers and duties of the Authority as the Board may deem proper. Section 5 The first sentence of section 543 of Title 29, Virgin Islands Code, as far as the first semicolon, is hereby amended to read as follows: The purposes of the Authority shall be to establish, acquire, construct, develop and improve, own, operate and manage any and all types of air and marine terminals; Section 6. The sentence at the end of subparagraph (6) of sec tion 543 of Title 29, Virgin Islands Code, is amended to read as follows: In no case shall the Authority have the power to sell, lease, assign, mortgage, pledge or otherwise dispose of or encumber any real property without the approval of the Legislature (of the Commit tee of the Whole of the Legislature when the Legislature is not in session), and the Governor; Provided, however, That leases for a term of one year or less shall not require such approval; 215 Act No. 8057 VIRGIN ISLANDS SESSION LAWS 1971 Section 7. Subsection (a) of section 551 of Title 29 is amended by deleting therefrom the following provision: Provided, further, That of the total amount of bonds which may be outstanding at any one time hereunder, not less than thirty million dollars shall be available exclusively for facilities on the Island of St. Thomas, not less than thirty million dollars shall be available exclusively for facilities on the Island of St. Croix, and not less than five million dollars shall be available exclusively for facilities on the Island of St. John; Section 8. Section 561 of Title 29, Virgin Islands Code, is hereby amended by the deletion of subsection (b) thereof. Section 9. Subsection (c) of section 561 of Title 29 of the Vir gin Islands Code, is amended by adding the following at the end thereof: Any of the real property which was transferred to the Authority pursuant to paragraph (a) of section 3 of Act No. 2375 (approved December 24, 1968) which does not constitute facilities related to the airport and/or marine activities of the Authority shall be retrausferred to the Government of the Virgin Islands. Such trans fer shall be effective as of July 1, 1971, and shall be evidenced by appropriate deeds of conveyance or other legal instruments. Section 10. Section 576 of TitIJ 29 of the Virgin Islands Code, is hereby repealed I Section 11 All activities of the Authority, its properties and personnel, other than that involving Marine and Aviation, and including housing units, beaches, real property leases, fire fighting units shall be transferred to the Government of the Virgin Islands effective July 1, 1971, provided that in the transferral of personnel employees currently holding positions with the Port Authority shaU be given preference in appointments to the extent that such 3obs are retained by the Government of the Virgin Islands Section 12. Land in eastein St Thomas which has been acquired for the development of a new airport shall not be used for any other purpose without the prior approval of the Governor and the Legislature of the Virgin Islands Section 13. It is hereby declared that none of the foregoing amendments, separately or collectively, is intended to affect in any way any obligation of the Authority arising out of its issuance of bonds, or any other evidence of indebtedness, or any contract, 216 ,. 1971 REGULAR SESSION Act No. 8058 lease or other obligation heretofore entered into by the Authority or its predecessors. Section 14. There is hereby appropriated to the Virgin Islands Port Authority the sum of $700,000 out of any available funds in the Treasury of the Virgin Islands for fiscal year ending June 30, 1971, to remain available until expended. Approi.ed May 28, 1971. h1 (BiLL 5069) No. 3058 (Approved May 28, 1971) To Amend Title 18 of the Virgin Islands Code, Pertaining to Elections; To Lower the Voting Age and Remove Literacy Requirements for Electors; and Provide Additional Opportunities for the Registration of Electors. Be it enacted by the Legislature of the Virgin islands: Section 1. Section 261 of chapter 13 of Title 18, Virgin Islands Code, is hereby amended to read as follows: “Except as provided in this chapter, every resident of the Virgin r . Islands, who is a citizen of the United States and is 18 years of age •• r or over, has the right to franchise, and shall be entitled to vote at all elections if he or she has complied with the provisions of this title requiring and regulating the registration of its electors.” Section 2. Sections 1 and 4 of Act No. 2887 (Bill No. 4663), Eighth Legislature of the Virgin Islands, Regular Session 1970, are hereby repealed. Section 3. Subsections (d) and (e) of section 100 of chapter 5 of TItle 18, Virgin Islands Code, are redesignated as subsec tions (e) and (f), respectively, and a new subsection (d) is added to said section 100 to read as follows: “(d) If the applicant for registration shall allege inability to • sign his name, then he shall be required to present affidavits, sub- • scribed in person before a member of the board or the clerk of two electors who are personally acquainted with the applicant and who know his qualifications as an elector. Each of said two electors shall state in his affidavit the applicant’s residence, his own resi dence, his knowledge of the statement made by the applicant • 217 QUITCLAIM DEED i& UIiVLAIM DHD, rnn5.c this ____________y o ___________________ 1967, by and between the Unitcd States of acting by and through the Secretary of the Xntcrior, and tc ent of the Virgin Islands, WiTSETiZ: WREREAS, the Government of the Virgin Islands has regstcd te to.ry of the Interior to convey the lands hereinafter described to t C.vcrnment of the Virgin Islands, pursuant to the erritoria1 Subd lands Act, 77 Stat. 338, 48 U.S.C. 1701 (1963), for specific deve1ocneut urposes; and /7 WREREAS, pursuant to Section 1(c) of the said Act, o 13, 1966, an explanatory stateeat was subnittcd to the — Coztces on Interior and Insular Affairs of the Senate and House of tsentativcs of the United States Congress; and WiE1AS, by letter dated January 5, 1967, the Goairnan of the ue Coittee on Interior and Insular Affairs and by letter dat er 16, 1966, the Chairaan of the Senate Coiaittee on Ini:.: and Iar Affairs have inforned the Secretary of the Ir.terio th -y viob to take no action with respect to the proposed conveyance; WHEREAS, notice of this conveyance of the lands hereinafter han bccn pabli3hed in the Virgin Islanda in tl r:ior r. :.çi4cod by Section 1(e) of the said Act; T RE0RE, the United States does hereby transfer and cc.r.vy to the Government o the Virgin Islands, in accordance with and ..cct to the said Act, and the terns and conditions nereof, 12. z :ight, title and interest in the following described lands: (5- 53 egrees 30 minutes East, 3. degrees 00 minutes East, 56 degrees 00 minutes East, 33 degrees 30 minutes West, 9 degrees 25 minutes East, 26 degrees 37 minutes West, 58 degrees 50 minutes West, 3 .egreea 15 minutes West, 56 degrees 30 minutes East, 43. cegrees 30 minutes West, North 59 degrees of be.r.nir.g. The e.rea is 2.80 acres All distances are in U.S. Feet. a distance of 190.0 feet, to a. point; therLce a distance of 200.0’ feet, to a point; thence a distance of 175.0 feet, to a point; thence a distance of 640.0 eet, to apoint; thence a distance of 175.0 feet, to a. point; thence a distance of 77.8 feet, to a point; thence a distance of 170.0 feet, to a point; thence a distance of 400.0 feet, to a point; thence a distance of 100.0 feet, to a point; thence a distance of 55.0 feet, to a point; thence TRACT (4) SECTI0 (2) FOR2 NAVPJ. St.AR EASE, ST. THOMAS, V. I. Leg ri t paint “X” located on the ahoreline an4 bei& the sohcai. ... trac 3 (U.P.T. txaining facilities) the line runs: south “ ..rces 18 minutes West, a distance of 55.0 feet to a point; ;nne iorth 52 Ogreea i0 minutes West, a distance of 282.5 feet, to a. point; thence South 7 grses 2.8 minutes West, a distance of 110.0 feet, to a point; thence North degrees 00 minutes West, a distance of 30.0 feet, to a point; thence .4’ TRACT (Li) SECTION (1) FORMER NAVAL SUBMARINE BASE, ST. THOMAS, V.1. P.W.Drawing Io.A3-97—T66. iin t point “A” located North 7 degrees 00 minutes West, c din..irce of 255.0 feet, from the northist corner of the tender pier, line runs: :orth cegreea 30 minutes East, a distance of 600.0 feet, to a point.; thence North 3. derce J45 minutes West, a. distance of 100.0 feet, to a. point; thence South North north South South South North South South South 10 minutes West, a distance of 100.0 feet, to the point 2 A 18 minutes East, 42 minutes West, 18 minutes West, 38 minutes west, 20 minutes East, 30 minutes East, 4Q minutes East, 10 minutes East, 05 minutes East, 00 minutes East, 10 minutes East, 18 minutes West, a Norto . ACC5 15 minutes East, d.iatance 7 xees 00 minutes East, a distance 7’( rco 0 mirnt South 4,. rees 40 minutes South 12 cgrcea 00 minutes south 28 ctees 30 minutes South 4 rees 00 minutes 3 370.0 feet, to a point; thence 115.0 feet, to a point; thence 156.0 feet, to a point; thence 30.0 feet, to a point; thence 60.0 feet, to a point; thence 190.0 feet, to a point; thence 250.0 feet, to a point; thence 200.0 feet, to a point; thence 190.0 feet, to a point; thence 110.0 feet, to apoint; thence 95.0 feet, to a point; thence of 90.0 feet, to point; thence of 110.0 feet, to a point; t.nenco of 4.o feet, to a point; thence of 130.0 feet, to a point; thence of 90.0 feet, to a point; thence of 340.0 feet, toa point; thence of 125.0 feet, to a point; thence a South South North North South South North South 37 crcea 52 .egrees &3 icgrees 6o degrees 43 ärces $3 c.erees 69 .egrees a;. ã.rees 66 .ees 71. ã.orees 86 dorees 37 crces a distance of a distance of a d.istnnce of a distance of a distance of a distance Of a distance of a distance of a distance of a distance of a distance of iieto.nce of 50.0 feet, to a point; thence A1on the siore line possing pier “C” and pier “B”, to the point of beginnir. ne arec. i 6.47 acres AU .istauces are in U.S. feet TRACT (4) SECTIOW (3) 0Rl. NAVAL SUBZ4ARINE BASE, ST. Ti0MAS, V.1. na at point “C” located North 8 degrees 30 minutes East, a distance of 760.0 feet, from V.1. Corporation, 4onat 2, the line runs: East, a d.istnce East, a distance East, a distance West, a. distance West, a distance 18 dcgrccs 00 minutes West, a distance of 2.10.0 fcet, to a point, thcnc Sou degrees 05 minutes West, a distance of 170.0 oet, to a point; thence South .7 degrees 30 minutes Wont, a diotanca of 60.0 foot, to a point on the chore line; thence io tr shoreline in a general no ther2,y direction, to the point of beginniu. 2 orea is 1.54 acres iU.3. distances are in U.S. Feet TRACT (4) sEc’ioi (4) ‘on.’ itviz. SLWMARmE BASE, ST. THOMAS, V.1. Reference: Y & D Draving No. 839 062 also P.’;.Lirawing e.A-c7—T66. at a point located North 87 degrees 00 minutes East, a distc.r.ce of 100.0 feet, from V.1. Corp. Nonument 2, the line rims: South 75 degrees 45 minutes West, a distance of 100.0 feet, to a point; therc South 8 degrees i5 minutes West, a distance of 280.0 feet, to a point; thence South IT degrees 00 minutes East, a distance of 170.0 feet, to a point; thence South 63. degrees 50 minutes Last, a distance of 100.0 feet, to a point; taenc4 South .9 degrees 2.5 minutes East, a distance of 150.0 feet, to a point; thenc South âi degrees 20 minutes East, a distance of 95.0 feet, to a point; thence Sout 3 degrees 45 minutes West, a distance of 135.0 feet, to a point; thenc South 16 degrees 30 minutes West, a distance of i40.0 feet, to a point; thenc North 29 degrees 15 minutes West, a distance of 130.0 foot, to a point; thenc North 5 degrees 15 minuteo West, a. distance of 120.0 feet, to a point; thence North 37 egreeo 00 minutes Wost, a distance of 95.0 feet, to a point; thence North 73. degrees 50 minutes West, a distance of 145.0 feet, to a point; thenc North 17 degrees 45 minutes West, a distance of 100.0 feet, to a point; thenc Nort3. 33 degrees 45 minutes West, a distance of 60.0 feet, to a point; thence ort 9 rccs 45 minutcs East, a distance of 160.0 feet, to a. point; thcrcc rt 12 .crecs 15 minutes West, a distance of 95.0 fcet,.to a point; tvnce 2. degrees 00 minutes East, a distance of 130.0 feet, to a point; tacuce orti. .9 dgreos 45 minutes East, a distance of 50.0 feet, to a point; tneoce Soutl 75 greos 20 ainates East, a distance of 87.3 foot, to tao point of boinnin. o area is 1.37 acres A distances are in U.S. feet As required. by Section 1(e) of the Territorial Submerged. Lands Act, this conveyance is made without the: power or right to rcconvf title to the subject lands. 21e United States excepts and. reserves afl deposits of oil, .., and. other minerals, but the term “minerals” shell not inci sand, gravel, or coral. TO IVE AND TO 1OI the sane unto and to the use of the Goveriant of the Virgin Islands forever. Under W8 WiEQ?, the/Secretary of the Interior has and. sealed this deed. in behalf of the United. States on the dn c.r4 year first above written. UNITED STATES OP ARICA FEB9-7- / Ny_____ - n4e Secretary of the Interior In . cece of - , ‘ 5 -Th D:3’::c o cOIIA) ) as C’ wSEI2TON ) On this _ _LL____—’ of ir. the year 1967, before e ? I.ace w’to ow1e0ge Public, pers0nllf epearea Cb.ar es • - of tbe terior, anc. tna. the Under. SecretaZ of toe d execl4ted. te foregoing office:, being aut1oried so to 0, \ 579 DISTRICT OF COLUMBIA To .\ WuOM Ths PRZStN?s Sir Co,4E. Cpwro: Cir 1tA ML.Q% rne te rosetbd to thcaOoompau’i5g inatruma,&t, we. .. the time of etsieg th, earns a otaty PuA the Dnct of Co1urnbe and du eornrnZoaod ad auoze4 b the iam of meld Di.Lot of Coiu to okt the acknowlednaat end proof 0! dodi pr Ocnveyanoo of land., tmsementa, or here4itamenta. cud 0th writmg to be ree’ dedin .id The*naL, end to edznmiatet oaths; and that I am well equaioted wit hendwntng of ead Notary Public and veri’y boheve tl,t the elgacture and imp.-ossioo of sos.! thereon at ouuir.c, afte cmatimoa with slnatur. and impacion of meal on fire in this omee. T Wimgu Wazo,, the Secretary to the Boui of Ommissiorier. of the District of Columbia, has horeut caueed the Seal of the Dieact of Columbia to be ezed at the City of Washington, D.C.. thi _ day of BflAL.J67.. D.C3AL) D - ____ O - V ••. a ACiCOWID •ç. > L C — ‘I) 0 L. 0 (-) ‘ a. A D ZàT TO QUITCL4IM D2ED is D2àT nade this _____________day of April, 1967, y ni ‘wn the United States of Azrica, acting through the Under &crethr’; of the InterIor, and the Government of the Virgin Islands, toi the Governor of the Virgin Islands, SSETH: W1AS, by uitc1aim deed dated February 9, 1967, a copy of wic1 is Ettached hereto and made a rt hereof, the United States of ting trough the Secretary of the Interior, conveyed 1. äaoribed therein to the Government of the Virgin Islands to the Territorial Snerged and.a Act, 77 Stat. 338, U.S.C.; and RAS, the Government of the Virgin Islands wisnes to ;:ar.sfr eta1n of the lands thus conveyed to it to the Virgin Water a4 Ower Authority; and ‘FHAS, rauant to section (c) of the said Act, on :.rch 31, 1967, an explanatory statement was submitted to the Cctc. on Interior and Insular Affairs of the Senate and House . Resemtatives of the United States Congress; and. WZAS, by letter dated Ai1 10, 1967, the Chairman of o Ccittee on InterIor an Insular Affairs and by letter .._.cd ri1 10, 1967, the Chairman of the Senate Conittee on Interior I :ul1r Affairs have informed the Secretary of the Interior that their rosoctive Gonmittees have no objections to the proposed transfer; 0 ‘-7/ WREAS, notice of proposal to amend the February 9, 1967, çtcii ãed by adding laxigunge permitting such transfer has been iic. .n the Virgin Islands in the manner and form req.dred by scuion of said Act; Now, TIFORE, in consideration of the premises it is .utually reed that the c.uitclaim deed dated February 9, 1967, ad -en the United States of America (grantor), acting trouh the Secretary of the Interior, and the Government of the Viri. :ze (grantee) be and it hereby is amended by adding thereto ter the aragraph at iage 5 thereof which reads as foilows: As rcçui.-ed by section 1(e) of the Territorial Subnerged Ads Act this conveyance is made without the power or right to reconvey the subject lands. the oliowi proviso: P:ovided, hoiever, that the Government of the Virgin Zsiands may convey to the Virgin Islands Water and. Power Authority in fee sinpie absolute that portion of the former navul submarine base known as act (1), Section () as more perticularly described in Public Works Drawing No. A3-97-66 and which metes and bouads scription has been published as aforesaid and that such conveyance shall be without cost to the Virgin Islands Water and Power Authority. This to the quitclain deed will be recorded by the Gov.rnnent of the Virgin Xslands at the same time and. together with itS deed of conveyance to the Virgin Islands Water and Power Authority. TZS .WEOP the United States of America, acting through the Secretary of the Interior, and the Government of the 2 0 lands, acting throuh the Governor of the Virgin lolanda, :vo izcd their hands and seals on the year and. day first above tjNID SES OF A’ICA z;;e4i CL. S-(L3 By Under Secretary ot the Xnt.ria G0VEWET OF THE ISIAN O. this day of , in the ycar 19.S7, before ne tcL2-’ (5 4e77’ , a Notary Public, rsor..liy apeared Charles F. Ice, ho acknowledged himself to be ;‘.e nr Socretary of the rtent of the Interior, and that he, cc o:ficer, being authorized so to dz, executed the foregoing for the United Stc.tea of Anerica. : Whereof I hereunto set my hand and seal. ø Wotary Thiblic 3 ACOW DS’.iC’ coLUZdSIA) ) as c WTON ) ‘1 z cc SuBMARINE &SL NET DEPOT CTION A5E MAP OF U. S. NAVAL STAT ION Si THOMAS, V.L °f U. S.A. SKOWNCCONDITON5 ON JUNE 30,1945 SCALLOP 3/ R. a aflaas cc,.... .o.,. wv a I haiaq, ca.,. Ifl9 II