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LEASE AGREEMENT LEASE AGREEMENT GOVERNMENT OF THE VIRGIN ISLANDS DEPARTMENT OF PROPERTY AND PROCUREMENT And KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC PREMISES: a. Parcel No. 81A Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting of 4,814 U.S. sq. ft. or 0.118 U.S. acre(s) ofimproved land more-or-less; and b. Parcel No. 8IB Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting of 5,182 U.S. sq. ft. or 0.118 U.S. acre(s) ofimproved land more-or-less; and c. Parcel No. 9A Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting of 9,305 U.S. sq. ft. or 0.214 U.S. acre(s) of land more-or-less; and d. Parcel No. 9B Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting of 2,492 U.S. sq. ft. or 0.057 U.S. acre(s) ofland more-or-less; and e. Parcel No. lOA Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting of 2,318 U.S. sq. ft. or 0.053 U.S. acre(s) ofland more-or-less; and f. Parcel No. lOB Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting of 5,408 U.S. sq. ft. or 0.124 U.S. acre(s) ofland more-or-less; and g. Parcel No. 5B Store Straede, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting ofa total of2,965.36 U.S. sq. ft. or 0.0681 U.S. acre(s) ofland more-or-less; and h. Parcel No. 6 Store Straede, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting ofa total of 1,036.50 U.S. sq. ft. or 0.0238 U.S. acre(s) ofland more-or-less. Article I 1.01 1.02 1.03 1.04 Article II 2.01 2.02 2.03 2.04 Article III 3.01 3.02 3.03 3.04 3.05 3.06 3.07 3.08 3.09 Article IV 4.01 4.02 4.03 4.04 4.05 4.06 4.07 Article V 5.01 Article VI 6.01 6.02 6.03 6.04 6.05 Article VII 7.01 7.02 TABLE OF CONTENTS Premises 1 Use 2 Development Plan 3 Binder Effect and Amendments 3 Initial Term 4 Options 4 Failure to Give Possession 4 Holding Over 4 Annual Rent 4 Construction and Financial Stabilization Period Rent 5 Definition ofFinancial Stabilization 5 Subleases, Revenue Sharing, and Additional Rent 6 PajmientReporting 6 Audit Rights 7 Assignment and Successors 7 Readjustment ofRent 7 Late Payment Charges 7 Improvements 8 Title to Improvements 9 Location and Improvements 9 Real Property Tax 9 Repairs by Lessee 9 Failure ofLessee to Repair 9 Excavation and Sorting 10 Mechanic's Lien 10 Liability Insurance 10 Indemnity 11 Non-Liability 11 Fire and Extended Coverage by Lessee 11 Environmental Limitation ofLiability Indemnity 11 Access to Premises 12 Easement for Pipes and Water Storage Tank Facility 12 Article VIII 8.01 8.02 8.03 8.04 8.05 Article DC 9.01 9.02 9.03 9.04 9.05 9.06 Article X 10.01 10.02 10.03 10.04 10.05 10.06 10.07 10.08 10.09 10.10 10.11 10.12 10.13 10.14 10.15 10.16 10.17 10.18 10.19 10.20 TABLE OF CONTENTS (CONT'Dl Notice of Condemnation 12 Rights ofLessor and Lessee 12 Taking ofLeasehold 12 Total Taking 13 PartialTaking 13 Cancellation 13 Termination 14 Repossessing and Reletting 14 Assignment and Transfer 14 Subleasing 15 Approved Sublessee Non-Disturbance 15 Notices 16 Non-discrimination 16 Officials not to Benefit 16 Agreement made in the Virgin Islands 16 Counterparts 16 Cumulative Rightsand Remedies 16 Interpretation 16 Agreement made in Writing 16 Paragraph Headings 17 Invalidityof Illegality of Provisions 17 Successors and Assigns 17 Broker 17 ApprovalsRequired 17 Entire Agreement 17 Conflict ofInterest 17 RightsofHolderof the LeaseholdMortgage 18 Compliance with Laws 18 Waiver 18 Enforcement of Lease Terms 19 Acknowledgement 20 LEASE AGREEMENT THIS LEASE made this day of , 20 , by and between the GOVERNMENT OF THE VIRGIN ISLANDS, acting through its Commissioner of Property and Procurement, (hereinafter "Lessor" or "Govemment") and KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC., whose mailing address is Royal Palms ProfessionalBuilding, 9053 Estate Thomas, Suite 101, Charlotte Amalie, St. Thomas, U.S. Virgin Islands 00802, (hereinafter "Lessee"). WITNESSETH: In consideration ofthe mutual covenants and agreements herein set forth, it is hereby agreed: ARTICLE 1 PREMISES AND USE 1.01 Premises: The Lessor hereby leases to the Lessee and the Lessee hires and takes from the Lessor: a. ParcelNo. 81AKronprindsens Gade,Kronprindsens Quarter,St.Thomas,U.S.Virgin Islands, consisting of4,814 U.S. sq. ft. or 0.110 U.S. acre(s) of improved land more- or-less, which also consists of and contains one (1) building, (hereinafter "Premises A"). The aforesaid Premises is zoned B-1 for "Business-Central Business District", and shown on Measure Brief, Book III, Folio No. 59, dated May 21,1971, marked as Exhibit "A", attached hereto and made a part hereofwith further delineation on a Map Geo aerial image, also attached and made a part hereofas Exhibit "H;" b. ParcelNo. 81BKronprindsens Gade,Kronprindsens Quarter,St.Thomas,U.S.Virgin Islands, consisting of5,182 U.S. sq. ft. or 0.118 U.S. acre(s) of improved land more- or-less, which also consists of and contains one (1) building, (hereinafter "Premises B"). The aforesaid Premises is zoned B-1 for "Business-Central Business District", and shown on Measure Brief, Book III, Folio No. 60, dated January 23,1941, marked as Exhibit "B", attached hereto and made a part hereof, with further delineation on a Map Geo aerial image, also attached and made a part hereofas Exhibit "H;" c. ParcelNo. 9A Kronprindsens Gade,Kronprindsens Quarter, St. Thomas,U.S. Virgin Islands, consisting of9,305 U.S. sq. ft. or 0.214 U.S. acre(s) ofimproved land more- or-less (hereinafter "Premises C"), which is zoned P for "Public." The aforesaid Premises is shown on Measure BriefBook III, Folio No. 6, dated December 12,1951, a copy of which is attached and made a part hereof as Exhibit "C," with further delineationon a MapGeoaerialimage,alsoattachedandmadeapart hereofas Exhibit "H;" d. ParcelNo. 9B Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting of2,492 U.S. sq. ft. or 0.057 U.S. acre(s) of improved land more- or-less (hereinafter "Premises D"), which is zoned B-1 for "Business-Central Business District." The aforesaid Premises is shown on Measure BriefBook III, Folio Lessee's Initials Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B. lOA, lOB and 81A & 81B Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. VirginIslands P a g e 2 No. 6, dated December 13, 1951, a copy of which is attached and made a part hereof as Exhibit "D," with further delineation on a Map Geo aerial image, also attached and made a part hereof as Exhibit "H;" e. Parcel No. 1OA Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands, consisting of2,318 U.S. sq. ft. or 0.053 U.S. acre(s) of improved land more- or-Iess (hereinafter "Premises E"), which is zoned B-1 for "Business-Central Business District." The aforesaid Premises is shown on Measure Brief Book III, Folio No. 65, dated December 13, 1951, a copy of which is attached and made a part hereof as Exhibit "E," with further delineation on a Map Geo aerial image, also attached and made a part hereof as Exhibit "H;" f. ParcelNo. 1OB Kronprindsens Gade, Kronprindsens Quarter, St.Thomas, U.S. Virgin Islands, consisting of 5,408 U.S. sq. ft. or 0.124 U.S. acre(s) of improved land more- or-Iess (hereinafter "Premises F"), which is zoned B-1 for "Business-Central Business District." The aforesaid Premises is shown on Measure Brief Book III, Folio No. 65, dated December 28, 1934, a copy of which is attached and made a part hereof as Exhibit "F," with further delineation on a Map Geo aerial image, also attached and made a part hereof as Exhibit "H;" g. Parcel No. 5B Store Straede, Kronprindsens Quarter, St. Thomas, Virgin Islands, consisting of 2,965.36 U.S. sq. ft. or 0.0681 U.S. acre(s) of unimproved land more- or-less (hereinafter "Premises G"), which is zoned B-3 for "Business-Scattered." The aforesaid Premises is shown on OLG File No. D9-8449-T010, dated April 8, 2010, a copy of which is attached and made a part hereof as Exhibit "G" with further delineation on a Map Geo aerial image, also attached and made a part hereofas Exhibit "H;" and h. Parcel No. 6 Store Straede, Kronprindsens Quarter, St. Thomas, Virgin Islands, consisting of 1,036.50 U.S. sq. ft. or 0.0238 U.S. acre(s) of unimproved land more- or-less (hereinafter "Premises H"), which is zoned B-3 for "Business-Scattered." The aforesaid Premises is shown on OLG File No. D9-8449-T010, dated April 8, 2010, a copy of which is attached and made a part hereof as Exhibit "G," with further delineation on a Map Geo aerial image, also attached and made a part hereof as Exhibit "H." Collectively, A, B, C, D, E, F, G, and H shall be referred to as the "Premises." 1.02 Use; The Lessee shall use the Premises to develop, operate, establish a small hotel, apartment suites, office, commercial, retail, conference & meeting spaces, other permitted purposes, and related public-benefit purposes. The Lessee shall have the right to lease and manage such spaces to subtenants. Said use is contingent on the Lessee obtaining and maintaining the required permits, licenses, and any required rezoningofthe Premises to a zoningdesignation compatibleto the operationofsame,as requiredin Paragraph 10.17. Lessee's Initials Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B, IOA, IOB and 81A & SIB Kronprindsens Gade and No. 5B & 6 Store Siraede. Kronprindsens Quarter St. Thomas, U.S. Virgin Islands P a g e 3 1.03 Development Plan: Lessee has submitted to Lessor, and Lessor has reviewed and approved, a development plan detailing the proposed development of the Premises ("Development Plan"). The Development Plan, as mutually agreed upon by the parties, shall be attached to this Lease as (Exhibit "I"), and is hereby incorporated into and made a part of this Lease. The Development Plan shall outline, among other things, the anticipated phases of development, associated timelines, scope of work for each phase, and applicable governmental or third-party approvals. 1.04 Binding Effect and Amendments: The Development Plan, as approved at the time of Lease execution, shall serve as the governing framework for development activities on the Premises. The parties acknowledge, however, that circumstances may arise that necessitate changes to the timing, scope, or sequencing ofdevelopment. Accordingly, the Development Plan may be amended from time to time by the mutual written agreement of Lessor and Lessee. Lessor agrees to act reasonably and in good faith when considering any such amendments. Lessor shall not unreasonably withhold, delay, or condition its consent to proposed amendments necessitated by material changes in conditions, including but not limited to regulatory requirements, availability of financing, construction delays, or market conditions. Lessor and Lessee acknowledge that development activities may be influenced by changing circumstances, including but not limited to market conditions, regulatory requirements, construction delays, or force majeure events. Lessor and Lessee agree to cooperate in good faith and maintain open communication during the course of the development. Either party may request meetings at reasonable intervals to discuss progress, necessary adjustments, or concerns related to the Development Plan. Upon written request of Lessee, Lessor shall designate a representative authorized to communicate and coordinate on development matters. Each party shall designate a representative who shall be responsible for coordinating communications and approvals related to the development process. Regular meetings may be held, as mutually agreed, to assess progress and discuss any proposed changes to the Development Plan. No amendment to the Development Plan shall be effective unless set forth in a written instrument signed by both Lessor and Lessee. Neither party shall have the authority to unilaterally modify any aspect ofthe Development Plan. Except as expressly set forth in this Paragraph, the approval or amendment of the Development Plan shall not be construed as a waiver or modification of any other provisions of this Lease unless expressly agreed to in writing by both parties and duly executed in accordance with applicable law. Lessee's Initials, Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B. lOA. JOBand 81A <&. SIB Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. Virgin Islands P a g c 4 ARTICLE II TERM 2.01 Initial Term: The term of this Lease shall be for a period ofthirty (30) years ("Initial Term") commencing on the first (P') 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 three (3) additional terms of ten (10) years each (each a "Renewal Term") at the rent provided for in Paragraphs 3.01 and 3.04 hereof by giving written notice of such renewal at least thirty (30) dayspriorto the expirationof the InitialTerm in the case ofthe first (P*) renewal or at least thirty (30) days prior to the expiration of the Renewal Term in the case of subsequent renewals. 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 ofthe fact that the Premises are not ready for occupancy, or due to prior lessee wrongfully holding over or any other person 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 HoldingOver: If Lesseeremains in possessionofthe Premises after expirationof the term 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 inclusionof the precedingsentencein this Leaseshall notbe construedas Lessor's consent for Lessee to hold over. ARTICLE III RENT 3.01 AnnualRent:TheLesseeshallpay to the Lessoran AnnualRent of One Hundred Twenty Thousand Dollars and Zero Cents ($120,000,00) payable in equal monthly installments of Ten Thousand Dollars and Zero Cents ($10,000.00) during the term of this Lease. The Annual Rent shall commence on the first (1®^) day of the month after the Construction & Financial Stabilization Period of sixty (60) months or less has expired, as described in Paragraph 4.01 herein. Payment ofAnnual Rent and Construction & Financial Stabilization Period Rent shallbe made in equal monthly installments in advance on thefirst(f) dayof every month during the term thereof, without any previous demand by Lessor, provided. Lessee's Initials Kronprindsens Gade Development Group, LLC Parcel Nos. 9A. 9B. JOA, lOB and 81A & 81B Kronprindsens Gade and No. 5B &. 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. VirginIslands P a g e 5 however, if possessionof the Premises is granted to the Lesseeat a date after the first (1®^ ofthe month, then in such event the rent for such first (1®^) month shall be prorated. The Annual Rent, Construction & Financial Stabilization Period Rent, Additional Rent, and Late Payment Charges 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. 3.02 Construction & Financial Stabilization Period Rent: Lessee shall be required to pay reduced rent during the Construction & Financial Stabilization Period of sixty (60) 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 One Hundred Dollars and Zero Cents ($100.00) per month, for months one through twelve (1-12) ofthis Lease. B. Lessee shall be required to pay One Thousand Dollars and Zero Cents ($1,000.00) per month, for months thirteen through twenty-four (13-24) of this Lease. C. Lessee shall be required to pay Two Thousand Dollars and Zero Cents ($2,000.00) per month, for months twenty-five through thirty-six (25-36) ofthis Lease. D. Lessee shall be required to pay Three Thousand Dollars and Zero Cents ($3,000.00) per month, for months thirty-seven through forty-eight (37-48) of this Lease. E. Lessee shall be required to pay Nine Thousand Dollars and Zero Cents ($9,000.00) per month, for months forty-nine through sixty (49-60) of this Lease. The Construction & Financial Stabilization Period Rent shall not be available or extended beyond the Construction & Financial Stabilization Period of sixty (60) months. Should all the improvements stated in Paragraph4.01 be completed prior to the time allotted for the Construction & Financial Stabilization Period, the Annual Rent in Paragraph 3.01 will commence in the month immediately following the completion of improvements and financial stabilization. 3.03 Definition of Financial Stabilization: For the purposes of this Lease, "Financial Stabilization" of the Development shall be deemed to occur when the Development, as defined in (Exhibit "1"), has achieved all of the following conditions or the Construction and Financial Stabilization Period ofsixty (60) months has expired, whichever comes first: i. CertificateofOccupancy: A final certificateof occupancy(or equivalent approval) has been issued for all occupied spaces; /n Lessee's Initiaia c>-^ Kronprindsens Gade Development Group. LLC Parcel Nos. 9A, 9B, lOA, lOBand 81A & 81B Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. Virgin Island'! P a g e 6 ii. Occupancy Threshold: At least seventy-five percent (75%) of the gross leasable area within the Development is subject to executed leases with tenants that are open and operating (or otherwise paying rent); iii. Completion of Core Infrastructure Improvements Development Plan: All core infrastructure and base building systems necessary for full operational use of the Development are substantially complete; and iv. Absence of Material Defaults: There are no uncured material defaults by Lessee under this Lease or by tenants under leases contributing to the occupancy threshold. 3.04 Sublease Revenue Sharing and Additional Rent: As Additional Rent, the Lessee agrees to pay to the Lessor a revenue share equal to a percentage of all base rent received by the Lessee from any sublease of the Premises or any portion thereof. "Base Rent" includes all amounts actually received by Lessee from any sublessee(s) paid in connection with the sublease. a. Lessee shall be required to pay Lessor an Additional Rent of five percent (5%) of all base rent actually collected monthly by Lessee per month, from the first (1") year through the fifth (5"*) year. b. Lessee shall be required to pay Lessor an Additional Rent of ten percent (10%) of all base rent actually collected monthly by Lessee per month, from the sixth (6'^^) year through thetenth (10'^) year. c. Lessee shall be required to pay Lessor an Additional Rent of fifteen percent (15%) of all base rent actually collected monthly by Lessee permonth, after the eleventh (1 f*^) yearthrough thefifteenth (15*'^) year. d. Lessee shall be required to pay Lessor an Additional Rent of twenty percent (20%) of allbase rent actually collected monthly by Lessee per month, from the sixteenth (16"^) year through the twentieth (20'^) year. e. Lessee shall pay to Lessor, as Additional Rent, an amount equal to thirty percent (30%) of all Base Rent actually collected by Lessee each month, commencing in the twenty- first (2P') year of the Initial Term and continuing thereafter throughout the remainder of the Initial Term and any Optional Term. 3.05 Pavment and Reporting: The revenue share shall be calculated and paid to the Lessor on a monthly basis, no later than the tenth (10'^) day of each calendar month for revenues received in the preceding month. Together with each payment. Lessee shall deliver a report in reasonable detail showing: i. A copy ofeach active sublease; Lessee's Initials Kronprindsens Gade Development Group. LLC Parcel Nos. 9A, 9B. lOA, lOBand 81A & SIB Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. VirginIslands Page? ii. The gross base rent revenue received under each sublease. iii. A calculation of the base rent revenue share due to the Lessor. 3.06 Audit Rights: The Lessor shall have the right, upon reasonable prior notice and no more than once per calendar year, to audit the books and records of the Lessee related to any sublease revenues for the purpose of verifying compliance with this revenue sharing provision. Any underpayment shall be due immediately from Lessee, and subject to repayment with interest at the rate of one and a half percent (1.5%) per month. 3.07 Assignment and Successors: This revenue sharing obligation shall run with the Lease and bind all successors, assigns, and transferees ofthe Lessee. No assignment or transfer ofthe Lease shall relieve the Lessee, successors, assigns, or transferees of its obligations under this section unless expressly released in writing by the Lessor. 3.08 Readiustment of Rent: The rent payable under this Lease shall be adjusted after the first five (5) years of the Initial Term, and every year thereafter, including any Renewal Term, in accordance with the increase of the Consumer Price Index ("CPl") as established by the U.S. Department ofLabor, Bureau ofLabor 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 first (1®') month ofthe Initial Term and as ofthe first (1 month of each subsequent Lease year shall be the base price index, and the CPI as ofthe month immediately preceding the first (U^) month of any Lease year after the first (U') Leaseyear of the Initial Term shall be the currentprice 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. iv. At the end of the first five (5) years of the Initial Term and everyyear thereafterof this Lease, the base rent shall be adjusted in the same manner, using the index for the month preceding the first month of each Lease year of the Lease Term for the current price index. In no event shall any rent determined in the above manner be reduced below the annual rent of One Hundred Twenty Thousand Dollars and Zero Cents ($120,000.00). 3.09 Late Payment Charges: Lessee acknowledges that late payment by Lessee to Govemment of rent and other charges provided for under this Lease will cause Govemment to incur costs not contemplated by this Lease, the exact amount of such cost, includes without Lessee's initial^*^ Kronprindsens Gade Development Group, LLC Parcel Nos. 9A. 9B, lOA, JOBand 81A & 81B Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. Virgin Islands P a g e 8 limitation, processingand accountingcharges.Therefore,if any installmentofrent or any other charge due from Lessee is not received by the Government within ten (10) days of the date due, Lessee shall pay to Government an additional ten percent (lOVo) of the 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 ofthe costs that 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. ARTICLE IV IMPROVEMENTS 4.01 Improvements: As a part ofthe consideration for this Lease, the Lessee shall provide at its own cost and expense the following improvements, ("Improvement") owned by the Lessee at an estimated cost of Ten Million Dollars and Zero Cents ($10,000,000.00), in accordance with Development Plan submitted to Lessor, and Lessor has reviewed, and approved by the Commissioner of Property and Procurement. The Improvements are as follows: LIST OF IMPROVEMENTS 1. Conduct required architectural & engineering design, and apply for all required construction permits, including Historic Preservation Committee approvals; 2. Perform all necessary demolition, renovation, repair, upgrading, or replacement of the roof, electrical, plumbing, HVAC, and other mechanical systems located on Parcel Nos. 8IA and 81B, as required to ensure full functionality and compliance with applicable codes and regulations; 3. Perform all necessary demolition, renovation, repair, upgrading, or replacement of the roof, electrical, plumbing, HVAC, and other mechanical systems located on Parcel Nos. 9A and 9B, as required to ensure full functionality and compliance with applicable codes and regulations; 4. Perform all necessary demolition, renovation, repair, upgrading, or replacement of the roof, electrical, plumbing, HVAC, and other mechanical systems located on Parcel Nos. lOA and lOB, as required to ensure full functionality and compliance with applicable codes and regulations; 5. Install emergency generator(s), as deemed feasible based on-site conditions and project requirements; and 6. Perform all necessary grading and install lighting and fencing for the parking area located at Parcel Nos. 5B and 6 Store Straede, in accordance with applicable codes and regulations. Lessee's Initials/ Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B. lOA, JOBand 81A & SIB Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. Virgin Islands P a g e 9 The phased improvements shall be completed no later than sixty (60) months of the Commencement Date of this Lease ("Construction & Financial Stabilization Period"). Lessee agrees to keep the said Premises and appurtenances as repaired, constructed, or otherwise developed 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 or better condition as it was since the Commencement Date, 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 within seven (7) days after termination, shall become the property of the Lessor. 4.03 Location ofImprovements; The above-mentioned improvements are located at Parcel Nos. 9A, 9B, lOA, lOB, 81A, 81B Kronprindsens Gade, Parcel Nos. 5B and 6 Store Straede, Kronprindsens Quarter, St. Thomas, U.S. Virgin Islands. 4.04 Real Propertv Tax: Upon the completion ofany improvements constructed on the Premises, Lessee shall notify Lessor, who shall notify the Tax Assessor for the purpose ofmaking an assessment ofthe value ofthe improvements. Lessee hereby agrees to pay any and all taxes, assessments, and other charges ofany description levied or assessed during the term ofthis 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 thePremises. Assessments shallonlyapplyto thoseimprovements ownedbyLesseeduring the term of this Lease. 4.05 Repairs bv 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, affer it shall have been given a twenty (20) day notice (except in a case ofemergency 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 resultingto Lessee becauseof Lessor's repair. The cost of such repairs by Lessor, together with interest at the rate provided in Paragraph 3.09, shall be paid by the Lessee as additional rent. Lesee's Initials//^ Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B. lOA, WB and 81A & SIB Kronprindsens Gade and No. 58 & 6 Store Straede. Kronprindsens Quarter St. Thomas, U.S. Virgin Islands 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 shall 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 ofthe improvements on the Premises from injury or damage and support the same by 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 damage and to support the same by proper foundations. Lessee shall not, by reason ofany 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. 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 ofintention 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 behalfofthe Lessee or anyone holding any part of the Premises through or under Lessee, Lessee shall cause the same to be cancelled 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 Liabilitv 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 Lessee's lnitials|^^^^ Kronprindsens Gade DevelopmentGroup, LLC Parcel Nos. 9A, 9B, IOA, I OB and 81A & 81B Kronprindsens Gade and No. 5B & 6 Store Slraede. Kronprindsens Quarter St. Thomas, U.S. Virgin islands 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 occupancyor work in or about the premisesherein leased. All suchpolicies 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 damagewhatsoever 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-Liabilitv: 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 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 bv Lessee: Lessee shall keep all buildings on the Premises insured against loss or damage by fire, windstorm, and earthquake with the usual extended coverage endorsements, in amounts not less than eighty percent (80%) ofthe full insurable value thereof, above foundation walls. A copy of all insurance policies shall be delivered to the Lessor within twenty (20) days ofthe Commencement Date ofthis Lease. All policies shall name the Lessor as an additional loss payee. 6.05 Environmental Limitation of Liabilitv and Indemnitv: 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 of the 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 ofany 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 ofthe Term or any Renewal Term herein. Lessee's Initial^^^ Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B. lOA, JOBand 81A & SIB Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. Virgin Islands ARTICLE VII ENTRY BY LESSOR 7.01 Access to Premises: Lessor or Lessor's agents shall have the right to enter upon the Premises upon forty-eight (48) hours' notice to the Lessee to examine the same and to show them to prospective purchasers, lenders, or lessees. In the event ofan emergency, however, the aforementioned forty-eight (48) hours notice provision is waived, and the Lessor has the right to enter the Premises to prevent any damage to the Property. 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 manneras to avoid interference with Lessee's use ofthe Premises. ARTICLE VIII CONDEMNATION 8.01 Notice ofCondemnation: The party receiving any notice ofthe 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 ofIntent ofTaking. 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 proofof 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 requiredby the provisionsof 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 terminateon the date of taking, or possessiongiven, whicheveris Lessee's Initial^^^-^— Kronprindsens Gade Development Group, LLC Parcel Nos. 9A. 9B, lOA, JOB and 81A & SIB Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas. U.S. Virgin Ldands 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 AND ASSIGNMENT AND TRANSFERS 9.01 Cancellation: This Lease shall be subject to cancellation by Lessor in the event Lessee shall: 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 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 occupyingthe Premisesfor a period of ninety (90)days without notice to theLessorandfailing to payrentduring thatninety (90)dayperiod. E. Defaultinperformance ofany ofthecovenantsand conditions requiredherein(except rent payments) to be kept and performed by Lessee, and such default continues for a period of forty-five (45) days after receiptof written noticefrom 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 Lessoris 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 ofLessor's activities. F. Be adjudged bankruptin involuntary bankruptcyproceedings. Lessee's Initials\r Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B, lOA, lOBand 81A & SIB Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. Virgin Islands G. Be made a party of any receivershipproceeding in which a receiver is appointedfor 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 ofthe aforesaid events, Lessor may take immediate possession ofthe Premises and remove Lessee's effects, to the extent permittedby 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 ofthe terms ofthis Lease. 9.02 Termination: This Lease shall terminate at the end of the Lease term or the 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 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 Leaseby notice or, without canceling this Lease, re-let the Premises or any part thereofupon 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 of this 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 ofany such deficiencies shall be made monthly within ten (10) days after receipt ofa deficiency notice. If any suit or action is brought by Lessor against the Lessee to enforce any of the 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 shall not assign or transfer this Lease or any interest therein, without the prior written consent of Lessor, which shall not be unreasonably Lessee's Initial Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B. lOA, I OB and 81A <&. 81B Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thoma.<!, U.S. Virgin Islands Page IS withheld. Any consent ofany assignment shall not be deemed consent to any subsequent assignment. 9.05 Subleasing: Lessor understands and agrees that Lessee may be subleasing portions of the Premises to sublessees. The Lessee shall have the right to sublease all or any portion ofthe Premises with the prior written consent of the Lessor, which shall not be unreasonably withheld, conditioned, or delayed. Lessor's consent to subleasing does not release Lessee from the performance of any of its obligations under this Lease. Any sublease shall be subject to the terms and conditions of this Master Lease Agreement. In the event of subleasing, Lessee shall pay Lessor additional rent as outlined in Paragraph 3.04. 9.06 Approved Sublessee Non-Disturbance: Notwithstanding anything in this Lease to the contrary, in the event this Lease is terminated for any reason, including, without limitation, due to a default by Lessee and failure to cure such default beyond the expiration ofapplicable notice and cure periods, only those subleases previously approved in writing by Lessor in accordance with the terais ofthis Lease (each, an "Approved Sublease," and each subtenant thereunder, an "Approved Sublessee") shall be eligible for continued occupancy following such termination. Upon termination of this Lease, each Approved Sublease shall automatically become a direct lease between Lessor (Government ofthe Virgin Islands, "GVI") and the applicable Approved Sublessee, provided that: (a) such Approved Sublessee is not then in default under its Approved Sublease beyond any applicable notice and cure periods; (b) such direct lease shall be on the same economic terms (including rent and term) as set forth in the Approved Sublease, but otherwise shall be upon Lessor's then-current standard lease form for comparable space; and (c) the effectiveness ofany such direct lease shall be subject to approval by the Governor and the Virgin Islands Legislature, which approval shall not be unreasonably withheld. Lessor shall provide written notice to each applicable Approved Sublessee of (i) the termination of this Lease and (ii) the conversion of its Approved Sublease to a direct lease, as soon as reasonably possible following such termination. In connection with any Approved Sublease, Lessor agrees to enter into a non-disturbance and attornment agreement with the applicable Approved Sublessee, in form and substance reasonably satisfactory to both parties, providing that, so long as such Approved Sublessee is not in default beyond applicable cure periods under its Approved Sublease, its possession and rights under such Approved Sublease shall not be disturbed by Lessor in the event of a termination of this Lease. Itials/^ Lessee's Initials Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B. lOA, JOB and 81A & SIB Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. Virgin Islands 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, retum receipt requested, postage fully prepaid, addressed to the proper party at; LESSOR: Department of Property and Procurement 8201 Subbase Suite 4 St. Thomas, U.S. Virgin Islands 00802 LESSEE: Kronprindsens Gade Development Group, LLC. Royal Palms Professional Building 9053 Estate Thomas, Suite 101, Charlotte Amalie St. Thomas, U.S. Virgin Islands 00802 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 ofrace, color, creed, sex, or national origin, discriminate or permit discrimination against any person. 10.03 Officials not to Benefit: No member of the 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 ofthis Lease or any benefit ofvalue that may arise therefrom. 10.04 Agreement made in the Virgin Islands: The laws of the U.S. Virgin Islands shall govern the validity, performance, and enforcement ofthis 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 of Lessor 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: Wordsof genderused inthis Leaseshallbeheld to includesingular,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. Lessee's Initia s Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B, I OA. I OB and 81A &81B Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. Virgin Islands 10.09 Paragraph Headings; The table of contents ofthis Lease and the captions of the various articles and paragraphs of this Lease are for convenienceand ease of referenceonly and do not affect the scope, content, or intent ofthis Lease or any part or parts ofthis Lease. 10.10 Tnvaliditv or Illegalitv 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 of any conversation or negotiation had by Lessee with any broker. 10.13 Approvals Required: This Lease shall not become effective unless approved by the Governor and Legislature ofthe 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. 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 ofthe Legislative, Executive, or Judicial branch of the Government or any agency, board, commission, or independent instrumentality ofthe 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; and Lessee's Initials u Kronprindsens Gade Development Group. LLC Parcel Nos. 9A. 9B, lOA, IOBand 81A & SIB Kronprindsens Gade and No. 5B & 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. VirginIslands ii. not made, negotiated, or influenced this contract, in its official capacity; and no financial interest in the contract as that term is defined in Section 1101 of said Code chapter. 10.16 Rights ofHolder ofthe 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, ofany ofthe 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 of first 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 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 of the Premises with the holder of the leasehold mortgage, or its designee, within thirty (30) days after 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 of the leasehold mortgage, or its designee, (i) contemporaneously with the delivery ofsuch 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 ofexecution 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 American Disabilities Act (ADA). The Lessee shall obtain all licenses, permits, and any required re-zoning ofthe 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 ofLessor; every right and Lessee's \v\Vi\a\s^ ^ Kronprindsens Gade Development Group, LLC Parcel Nos. 9A, 9B, IOA, I OB and 81A & 81B Kronprindsens Gade and No. 5B& 6 Store Straede, Kronprindsens Quarter St. Thomas, U.S. VirginIslands remedy conferred under this Lease may be exercised from time to time and as often as may be deemed expedient by the holder ofsuch right or remedy. 10.19 Enforcement of Lease Terms: Waiver by either party of any breach of any term, condition, or covenant ofthis Lease, during the term ofthis Lease, shall not be deemed to be a waiver ofany subsequent breach ofthe 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 ofany 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 ofsuch right or remedy. [INTENTIONALLY LEFT BLANK - SIGNATURES FOLLOW] Kronprindsens Gade Development Group, LLC Parcel Nos. 9A. 9B, lOA, JOBand 81A <& 81B Kronprindsens Gade and No. 5B <& 6 Store Straede, Kronprindsens Quarter St. Thomas. U.S. VirginIslands P a a e 20 IN WITNESS WHEREOF, the parties herein have hereunto set their hands and seals on the day and year first above written. WITNESSES: ine (Print) LESSEE: Kronprindsens Gade Development Group, LLC BY: John A. Engerman Authorized Representative ACKNOWLEDGEMENT Territory of the Virgin Islands ) District of St. Thomas/St. John ) ss: Before me personally appeared John A. Engerman, Authorized Representative of Kronprindsens Gade Development Group, 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 A.D. 20 //rrUyxS Notary Public CHARMAINEA. DUNCAN Nc^ PubKC - StThomas/StJohn,U.S. Virgin Islands •NP-814-25 ' V /r My Commfe^ Expires March 5.2029"^ EXHIBIT A W'vu., •- MEASURE-BRIEF ^•iiir.iftP»p«rtyNo. , KRONPRINDSENS ... Quarter Inthe town ofCharlotte Amilto ft • .^pibe Uand of 6t "nunnas, ^^rgln lalanda of U5A. • ••' '• '"•», .V{'. "• .. ^ • • y.i•.^.^1^''^ '••• • V-lfc-i '-• I'.+.i' THIS IS TO CBRTIFY that the abowHaenttODed lot according to the Sniveyor'a IW • .VtiOo ....^? survey of ...^'. ' • ^j^nwa of Oiarlotte AmaS^ Book rr^rtkaslbelhQoirfngbotindarleit ;iV io-tteOMth feettowudi ^Mih.»:?/?. •• .jwi .'.^??.".v.?....'" MOtla ahoot Cronprindeena Gdde jOt No. 80 Kronprlndaena Gade jOt No. 81BKronprlndaena Gade Lot No. 80 Kronprlndaena Gade Danish Maaauremerta j aqoarefeet •zv^«The Offlco of the Commbaloiier Of Public Works—St ThMwa, V.t May 21, 1971 '•'• i.- JW • - * - ys3r >LAW :--\ V PK, -'^h; -y y-^ ; •» V* , ' • - \ r'*K.. -'l'. • ' . * . r«- 3/^ I. 50 Gewt.Pty. OAIe« 1-IS.M.Aoa M- e/a Public Sur^yor ATTBSn*: It is hereby certified that the above mentioned pn^terty, which according to beloDga to • • • • has not, according to the Records ci this Of- fice, undergone any changes as to boundaiiet and area. The Office of the CommissloDer ofPnbBe Works, Charlotte Amalle, St Thomas, V. L Date EXHIBIT A •• ' - • xi .•••- -ffe •. H- •X;U> ' ' ^' ^'• , *' • fcS '• fi. ?l "• V I - • i . .» . I ?;k'- EXHIBIT B r t / ♦. ' W ^ ' For The Property No. nOHnXBDSSBS* PLAN r MEASURE-BRIEF . Wfc IB p.l P B.IH D.8_« B.B . 0 A B.I.... — Quarter in the town of Charlotte Amalie on the Island of St. Thomas, Virgin Island of U.S.A. $!(» i« to certify that the above mentioned lot according to the Surveyor's Records for the Town of Charlotte Amalie. Book .. FoHo . ydurvey hasthe following boundaries: . tothenorth .feettowards . " " south 9^lA. •' 81« &eaprliida«^atdo| *• " east. ITUIA fltaraad Gadoi " " west ITB "if.'- Ba« 0Sa S^onprlodaeoa Gate* The areais about . square feet _aaaaof«it*uA# TheOffice of the Supt. of Public Works (Public Surveyor) St, Thomase. We. *W"M!*.?Sa. WUl Oesild 8* ftVorlntMAmh tit Pt^Uo'lwkaV Kimor^^jmSgJiiS GJSQS 26-/i J r Attest: It Is hereby certiiied that the above meO' tioned property, which, according to belongs tg has not, according to the Records of this of fice, undergone any changes as to boundaries and area. The Office of the Supt of Public Works, Charlotte Acoalie, St Thomas, V. L Date § Fee: %. leOO l-tM* HO S 1^/i EXHIBIT B EXHIBIT C -1—I ^teJ'PWDl. J^up MEASURE-BRIEF For the Property No. • UWifflJanaaBl Quarter in the town of Charlotte Amalie on the Island of St. Thomas, Virgin Island of U. S, A. THIS IS TO CERTIPY that the above ineDtioned lotaccording totheSurveyor's Records for the town ofCharlotte Amalie. Book XU Polio h survey of—jEhie«_2fi^_1934 has the following boundaries: tothe north feettowarda Aell)dAM99.j3Ade| i... south " -Jfreoprlndafliie-fladflLAJto*.5b-BnDiiprlJida«iB " " eaat—JSLisT " " ,j$8nal fladaj, The area is about 5jaW- -square feet The Office of the Sapt. of Public Works (Public Surveyor) St Thomas^ JteOfiBd9or-I2, 11 PLAN ki No.IO£ K A/o.tfyt ^ 3/' i tK o OQ I X UJ Qqgip14.3j_ .. Soparintendenb of FubUo ffma,* Attest: It is hereby certified that the above mentioned property, which according to beloogato has not, according to the Kecords of this Of fice, undergone any changes as to boundaries and area. The Office of the Supt. of Public Works, Charlotte Amalie, St Thomas, V. I. Date EXHIBIT D PWD-L MEASURE-BRIEF For the Property No, Quarter in the town of Charlotte Amalie on the Island of St. Thomas, Virgrin Island of U. S. A. THIS IS TO CBSTIFy that the above mentioned lot according to the Surveyor's Records for the town of Charlotte Amalie. Book._|39C_. _FoIio____6 survey of has the following boundaries: to the north 2W/2 feet towards fcroa^^ " " south — " "east " ** " " west,™?? " " .fefglK'Indigpi.jgi^^ The area is about square feet The Office of the Supt. of Fublie Works (PublicSurveyor) St, Thomas^JI»X«. JtefBtaE-UU 19 PLAN No. (03 ifK Xr^eo/v EXHIBIT D Sitp«rlAt6iidsat of Aihllo Wsmim Attest: It is hereby certified that the above mentioried property, which according to belongs to has not, according to the Kecords of this Of fice, undergone any changes as to boundaries and area. The Office of the Supt. of Public Works, Charlotte Amalie, St. Thomas, V. I. Date EXHIBIT E MEASURE-BRIEF For the Property No. I®I!¥SS@S#9A Quarterin the town ofCharlotte Arnalie on the Island of St Thomas, Virgin Island of U. S. A. THIS IS TO CERTIFY that the above mentiofied lot according to the Surveyor'b Records for the towo of Charlotte Amaiie. Book m .Folio 65. survey of.J)ie«.28^-1SQ4 has the foilowing boundaries: to the north towards ....BftR. JflR.JBcflOfrtndMne.Qadi| " " south " " fiSBprindaetui Qadu. " " ea8t..__M*?.__. " " ICEQOPllLsdifM.qadftt " " west " " The area is about sqoare feet.!lt9».M6li9?!#6®tee 'i-'C'. vJ • 5 . The Office oftheSupt. ofPublic Works (Public Surveyor) St ThomaH^ ^^>1* Piimdunr V95X* PLAN HcJoa No-^e Fee: tttm the Eooordi) SwL Prtc. OOm l-lMt-WW IkmaXd-a«.JpCTham, Soperlntendsnt ot IU>lie Wow* Attest: It is hereby certified that the above mentioned property, which according to belongs to..... ... has not, according to the Records of this Of fice, undergone any changes as to boundaries and area. The Office of the Supt. of Public Works, Charlotte Amaiie, St. Thomas, V. I. Date. EXHIBIT E EXHIBIT F *TO.l Sdk Sb TkoBM ^ -c5' MEASURE-BRIEF For The Property No. .O..." ^ ^n/)f/^Pf/f/1^7:JY.'H Quarter ia the Tovm o( Saint Thomas (Charlotte Amalie) on the Idand of St Thomas, Vugin Islands ofJJ. S. A. Sllfla ifi to rsrli% thaX the cAoue TnenUoned lot according to the Swrveyot^c Kepcrde for Vie T Town cfSt. Thomas (Charlotte Amalie} Book..U^^. Solxo....^.'^. euroeg has thefollowing boundaries:. to the north....if./.•.^.....fe^ towards Jlh'/jTafs^.Mte.Xfcea^.. " " east .. '* " [ li " '* s7.6'r/ozr., .. js^/jajijS^yf^jO^/^aisf-hSXiSjCM^ ' • y-3-^.7' ^ ^ Ts. .-J The area isabout «ji«are/eet | -. The O^iceof the Public Works Officer (Public SurvcgorJ St. Thomas PLAN jrc.3<=^ y}».//^ jTo//^ r* 'Tf-- Fee: Free * " ^ 'f. -- 1.1 .A-.. .. J Attest: - ' A h:l J That the aJboremeniioned^propert^, which /'i ' w.Va aeeordtng to ....4—- i- ^ bdonge to has not, aeeordisvi to the Records, wndergoM' ^ any changes as to boundaries and area to ll ber^ certified. TheOffice ofthePMie;.y^ork8 Officer, SL Thomas. EXHIBITF 'I- ' i- fWf •I ||||^ EXHIBIT G 'iuJtVM M/avjtA smtMirrsx MJseftA asaar>& jAB!tixv/ififA^»>i . •Wsrrjd 9fo »7i^»<^3ua7vmfo ':^^»sUar ^arouff 9 ^ &ff -oy •^'TsaefMa'sMutitaKT Ay^ansf. ,«/V<Ww tza^ysu jy7^<T9<SiMf/)f aayjun^ _ _ sa$<m»ryy aaKvoj^ ^crny r/satsA irsd; oimion jsA^ss6lS'-6<i £m'Afi&<TM»'jmgiSl9if OAf/*fOz c-gr UJI^/Ocl . ^ jxr-sftf^aaf- •- , . 9 ^Af0'a£ray^4i9O9' fr' au-oM^a '• O aiVJ'J'5''7' ^ijC-Mfy-ha: arMc/ j8«a.'»'J^ 01igiHX3 ?Ve^SV3t^ 9?^ pf^aar ~9f76^ *^ie>ety3/oe^.i^eaiS^ <aiv7Syyaz mfjfiuaas^ ir XTjS- 7^9 t> a iA at' - i •\ .1 aaz^azzzHT -jrTWj* fiZ EXHIBIT H us Virgin Islands July 12. 2025 Parcel Nos. 9A, 9B, lOA. lOB and 81A & 81B Kronprindsens Gade and No. 5B & 6 Store Straede EXHIBIT H MAP FOR REFERENCE ONLY NOTA LEGAL DOCUMENT us Virgin Islands makes no claims and no warranties, expressed or Implied, concerning the validity or accuracy of the GIS data presented on this map. Geometry updated 04/202S Data updated 09/2024 Print map scale is approximate. Critical layout or measurement activities should not be done using this resource. EXHIBIT DRAWINGS/ PLANNED BUILD OUTS/ IMPROVEMENTS EXHIBIT I Kronprindsens Gade Kronprindsens Gade is a street located In Charlotte Amalie,the capital ofthe U.S.Virgin Islands, which is located on the island of St Thomas. The name "Kronprindsens Gade" (which means "Crown Prince's Street" in Danish) is a remnant of the Danish colonial period, as the U.S. Virgin Islands were once a Danish colony known as the Danish West Indies until they were sold to the United States in 1917. The street is part of the historic district in Charlotte Amalie and is known for its picturesque, colonial architecture and historic buildings. It is a popular area for tourists and locals alike, with shops, restaurants, and other businesses lining the street. The name "Kronprindsens Gade" honors the Danish Crown Prince from the period when Denmark controlled the islands. This street offers a glimpse into the island's colonial past and is a significant part of St. Thomas' cultural heritage. Uj CROWN PRINCE BUILDING A REDEVELOPMENT PLAN KRONPRINDSENS GADE DEVELOPMENTGROUP, LLC 9A, 9B, IDA, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALiE, ST. THOMAS US VIRGIN ISLANDS BUSINESS HOTEL - APARTMENT SUITES - CONFERENCE & MEETING ROOMS RETAIL - OFFICE - COMMERCIAL THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN i KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, 10A, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS BUSINESS HOTEL - APARTMENT SUITES - CONFERENCE & MEETING ROOMS RETAIL - OFFICE - COMMERCIAL THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN m KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, 10A, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS BUSINESS HOTEL - APARTMENT SUITES - CONFERENCE & MEETING ROOMS RETAIL - OFFICE - COMMERCIAL THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, 10A, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS BUSINESS HOTEL - APARTMENT SUITES - CONFERENCE & MEETING ROOMS RETAIL - OFFICE - COMMERCIAL THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, lOA, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS BUSINESS HOTEL - APARTMENT SUITES - CONFERENCE & MEETING ROOMS RETAIL - OFFICE - COMMERCIAL / THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN "It - Pr^dsesse^Ga^ rr i r'^ J J KRONPRINDSENS GADE DEVELGPiVIENT GROUP, LLC. 9A, 9B, 10A, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS \ CUJRA60A' G^DE srapB iuaul'* LSOBAG©^ GADe THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN \ I i\:r^ ON[in^Ml^LN> KMSla 1 ,e- fr Aerial Site Plan KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, 10A, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS PROJECT LOCATICN mS5 THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN m -s East Elevation KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, 10A, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS m CROWN PRINCE BUILDING A REDEVELOPMENT PLAN 1} % nw •<* losie* c» 1 III inimiand » 1 : : >«o -vpesjoe^-eevoew itttiiMir Eppra aitJlUil Etuil AS ^rz ^r; \ t i \West Elevation ^2; KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, 10A, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN V L i ->. North Els 1 i ^'ation (Front) f Mi MX3»HSCJB* MiCW IRW&tf* *>l •MtMM* in tw IglO^ nH»«WMlMi SUOKtM: MTVV(t» '•* loorw soc*i p<"ww»i*e«tiwr " :*a>«i»KMr<*w: aionAii 3%4wt w.KJNu:r.A«x MAMOV^ WAiltM «»«»•*> AMI )eT»H. E>^44aAr;>i4MLii i^w^ocMy<rMKn*a4u ouoftSAK: rawvawovoomo* n- moao !•» MMW»:iA#»Ai U»* WVtSBWn KM1 3«n CMMNCUiM) I** OaiMMC KA.IX 9* WC- » laAm" »ao« « CMI 1M> KJQIWa MJLia WMfWTM: Mrr.xiM T1—*Tr**- rr IMMMT MMMT WW-AAC njC^OHT yw^MC f-- attMMi: noon MsantfMCM aiwaa MlffNPMMC torif. W« xf:mmMTiMM£T WTAHT aACW ML9WH AMI fWr«. i*wjca£i»i%. nOC«r.-:-XTAMVMf XTPmMKMT tlOO*C[31«iM>t» WH twnMtw» nr9B<i«Ai>ciia—*cr i»aa-AWi ^wiMtaajugi KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, 10A, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN f N Second Floor Plan 1 i KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, 10A, 10B,81A & SIB KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS HISTORIC DISTRICT REVITALIZATION ECONOMIC INCUBATOR 50-100 MANAGEMENT & SERVICE JOBS $5M - $1OM CAPITAL INVESTMENT THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN Xf CCiUNTWG u:!!- ^QXSXilZ^^ zr-i,' ® i.<j\AH €)[l fslte N> QsS" V -<?> "W <S> KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC. 9A, 9B, IDA, 10B,81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE, ST. THOMAS US VIRGIN ISLANDS SOW -Qf- ^ as- <^- -ffin THE CROWN PRINCE BUILDING A REDEVELOPMENT PLAN ZONING CERTIFICATION GOVERNMENT OF THE UNITED STATES VIRGIN ISLANDS 0 DEPARTMENT OF PLANNING AND NATURAL RESOURCES 4611 Tulu Park Mall Suite 300, 2'"* Floor St. Thomas, VI 00802 (340) 774-3320 Office of the Commissioner April 16, 2024 45 Mars Hill Frederiksted, VI 00840 (340) 773-1082 dpnr.vi.gov ZONING CERTIFICATION This will certify that Parcel Nos. 5B and 6 Store Straede, Kronprindsens Gade, St. Thomas are zoned B-3 (Business-Scattered) as per Official Zoning Map No. STZ-II. The proposed use ofParking would be allowed under the B-3 category "Automobiles & Motorcycles- Parking, Commercial." The proposed use of Storage depot staging area would be allowed under the B-3 categories "Equipment Rental & Leasing Services" and "Machine Rental, Domestic (Non-Heavy)." The list ofpermitted uses and development provisions for the B-3 zoning district can be found in Virgin Islands Code, Title 29, Chapter 3, Subchapter 1, §228 and 229 (https://legvi.org/index.DhD/service/social-care/). If there are any further questions or concerns, please contact Leia LaPlace, Territorial Planner, Division ofComprehensive and Coastal Zone Planning (CCZP) at 340-773-1082 extension 2215 or leia.laplace@dpnr.vi.gov. Sincerely, lozette J. Walker, CPM Assistant Commissioner Cc: Jean-Pierre L. Oriol, Commissioner GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES DEPARTMENT OF PLANNING AND NATURAL RESOURCES 4611 Tutu Park Mall Suite 300, 2"'' Floor St. Thomas, VI 00802 (340) 774-3320 45 Mars Hill, Fredcriksted St. Croix, VI 00840 (340)773-1082 dpnr.vi.gov Division of Comprehensive and Coastal Zone Planning ZONING CERTIFICATION This will certify that Parcel No. 9A Kronprindsens Gade, St. Thomas is zoned P (Public) as per Official Zoning Map No. STZ-11. This will certify that Parcel Nos. 9B, 1OA, 1OB,81A, and 8IB Kronprindsens Gade, St. Thomas are zoned B-1 (Business-Central Business District) as per Official Zoning Map No. STZ-11. The proposed use for "a small hotel, apartment suites, office, commercial, retail and conference & meeting spaces" would be allowed in the B-1 zoning district under the categories: Hotels & Guesthouses; Apartment Hotels; Dwellings- Attached, Detached, Group, Multiple, Semidetached, Single-Family, and Two Family; Offices- General and Professional; Convention Centers. Theproposed uses for "office, conference& meeting spaces" wouldbe allowed in the P-Public zoning district under the categories: Offices- General and Professional; Convention Centers. The complete list of permitted uses and development provisions for the P and B-1 zoned districts can be found in Virgin Islands Code, Title 29, Chapter 3, Subchapter 1, §228 and 229 (https://legvi.0rg/vi-code/3. GOVERNING AUTHORITY: Department of Planning and Natural Resources Government ofthe U. S. Virgin Islands Researched By: Name: Keshoi Samuel Title: Planning Technician Date: May 13,2025 Phone: 340- 774-3320 ext. 5124 Email: kcshoi.samueI(%dpnr.vi.gov Certified By: Name: Leia LaPla' Title: Territorial Planner Date: May 13, 2025 Phone: 340-773-1082 ext. 2215 Email: leia.laplacelajdpnr.vi.gov %AmAimAAjJj ST %J KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC SUPPORTING BUSINESS DOCUMENTS ( X ) Financial Statements/ Business Plan EXHIBIT I ( X ) Business License Expires: 07/31/2026 (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: 02/28/2024 Expires: ( X ) Certificate of Good Standing Dated: 07/16/2025 Expires: 06/30/2026 ( N/A ) Certificate of Existence Dated: n/a Expires: tWSlNG« THE GOVERNMENT OF THE VIRGIN ISLANDS DEPARTMENT OF LICENSING AND CONSUMER AFFAIRS BUSINESS LICENSE KNOW ALL BY THIS PRESENT • '''SGIN That, inaccordance with theapplicable provisions ofTitle 3Chapter 16 andTitle 27V.I.C. relating to the licensing of businesses and occupations, and compliance having been made with the provisions of 10 V.I.C. Sec. 41 relating to the Civil Rights Act ofthe Virgin Islands, the following license is hereby granted. Licensee: KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC Trade Name: KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC Mailing Address Physical Address 9053 ESTATE THOMAS ROYAL PALMS BLDG STE 101 CHARLOTTE AMALIE ST. THOMAS VI 00802 81A & 81B KRONPRINDSENS GADE CHARLOTTE AMALIE ST. THOMAS VI 00802 Business No: 68729 License No: 1-68729-1L Types of License(s) Rental of Commercial Space Owners Representative Coordinator Asprovided bylaw, theauthorized licensing authority shall have thepower torevoke orsuspend anyLicense issued hereunder, upon finding, after notice and adequate hearing, that such revocation or suspension is in the public interest; provided, that any persons aggrieved by any such clecision ofthis office shall be entitled to a review ofthe same by the Territorial Court upon appeal made within (30) days from the date of the decision;provided, further, that all decisions of this office hereunder shall be final except upon specific findings by the Court that the same was arrived at by fraud or illegal means. rZG25 If a renewal is desired, the holder is responsible for making application for same without any notice from this ofTice. It is the responsibility, of the Licensee to notify the Department in writing within (30) days, when a license is to be cancelled or placed in inactive status. Failure to do so will result in the assessment ofpenalties as authorized by law. Valid from 07/01/2025 until 07/31/2026 Printed on Issued at Fee 03/30/2026 St. Thomas,V.I. 260.00 H. Nathalie Hodge Commissioner, Department of Licensing and Consumer Affairs THIS LICENSE MUST BE PROMINENTLY DISPLAYED AT PLACE OF BUSINESS Business Entity No. DC0133843 Government of The United States Virgin Islands -0- Office ofthe Lieutenant Governor Division ofCorporations & Trademarks CERTIFICATE OF GOOD STANDING To Whom These Presents Shall Come: I, the undersigned Lieutenant Govemor the United States Virgin Islands, do hereby certify that KRONPRINDSENS GADE DEVELOPMENT GROUP LLC has filed in the Office of the Lieutenant Govemor 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 ofthe 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, 2026. Entity Type: Domestic Limited Liability Company Entity Status: In Good Standing Registration Date: 05/30/2025 Jurisdiction: United States Virgin Islands, United States Witness my hand and the seal of the Government of the United States Virgin Islands, on this 16th day of July, 2025. 071620250415 Tregenza A. Roach Lieutenant Govemor United States Virgin Islands THE UNITED STATES VIRGIN ISLANDS USVI Lieutenant Governor Filed: May 30, 2025 02:45 PM BID: DC0133843 Articles of Organization KRONPRINDSENS GADE DEVELOPMENT GROUP LLC (DC0133843) General Details Handling Option Delayed Effective Date Type of Limited Liability Company Standard Processing Limited Liability Company Proposed Company Name Select a Reserved Name No KRONPRINDSENS GADE DEVELOPMENT GROUP LLC Business Addresses Physical Address Principal Office or Place of Business Mailing Address Mailing Address 81a & 81b Kronprindsens Gade, St Thomas, United States Virgin Islands, 00802, United States Business Details Term Nature of Business/Purpose Amount of Capital Managed By Members Liability 9053 Estate Thomas, Royal Palms Professional Building, Ste 101, St Thomas, United States Virgin Islands, 00802, United States Perpetual Finance, Insurance, and Real Estate, Real Estate 1,000.00 Member Managed Members are not liable Generated on June 02,2025 09; 17 AM lof4 Resident Agent Resident Agent in USVI Resident Agent Type Entity Name Business Identifier Physical Address Mailing Address Resident Agent Consent Form Principals Organizers Organizer 1 Individual Name Status Physical Address Mailing Address Managers/Members Registered Business Entity BUSINESS BASICS VI, LLC 582110 Royal Palms Professional Building,62-3a & 62-3b Estate Thomas, Suite 101, Charlotte Amalie, United States Virgin Islands, 00802, United States Royal Palms Professional Building,9053 Estate Thomas,Suite 101, Charlotte Amalie, United States Virgin Islands, 00802, United States ExecutedCOA_ Kronprindsens Gade Development Group LLC.pdf05/30/2025 2:40 PM Knolah NICHOLLS-THOMAS Active 81a & 81b Kronprindsens Gade, StThomas, United StatesVirgin Islands, 00802, United States Mailing Address is the same as the Physical Address Generated on June 02, 2025 09:17 AM 2 of4 Manager/Member Non-Registered Entity Non-Registered Entity Name Status Physical Address Mailing Address Position Signature(s) Name Position Date I DECLARE, UNDER 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 Telephone Email I DECLARE, UNDER 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 AND CORRECT, WITH KG REALTY REVOCABLE TRUST Active 81a & 81b Kronprindsens Gade, St Thomas, United StatesVirgin Islands, 00802, United States Mailing Address is the same as the Physical Address Member Knolah NICHOLLS-THOMAS Organizer May 30 2025 Yes Coleen Ritter-Garvey (1)340-776-0640 c.ritter-garvey@strategygroupvi.com Yes Generated on June 02,2025 09:17 AM 3 of4 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.LC.§843. Generated on June 02,2025 09:17 AM 4 of4 CERTIFIED RESOLUTIONS OF THE AUTHORIZED REPRESENTATIVE OF KRONPRINDSENS GADE DEVELOPMENT GROUP, LLC Hie undersigned, as Attomey-in-Fact for the KG Realty Revocable Trust CTrust*0» designates John A Engerman, as the Authorized Representative of Kronprindsens Gade Development Group LLC (the"Company"),a limitedliabilitycompanyorganizedunderthe laws of the UnitedStatesVirginIslands, and hereby certifies that the following resolutions were duly adopted in accordance withfiie Operating Agreement of fiie Company and fiiat theseresolutions remain in full force and effect as ofthe date set forfii below: RESOLVED,thattheAuthorized Representative, on behalfof the Company, is authorized toenter intoa singleor multi-yearLeaseAgreement withfiieGovernment ofthe VirginIslands(the "GovemmenfO imder the terms and provisions ofsuchagreement, and shall be guarante^ the Trust, thesoleMember oftheCompany (the"Guarantor"); andit is furdier RESOLVED,thatthe Company is authorized to execute die LeaseAgreement andanyandall documents necessary or desirable to effectuate the termsandconditions ofthe LeaseAgreement; and it is further RESOLVED, that all actionsnecessary to effectuatethe LeaseAgreementandrelatedguaranty, including theexecution anddelivery ofagreements, documents, orinstruments contemplated by the LeaseAgreement, areherebyauthorized, approved, andratified; andit is further RESOLVED,thatTrust, byitsAuthorized Representative, is herebyauthorized anddirected to execute anddeliver, inthe name andonbehalfof theCompany, anyagreem^ts or documents contemplatedby the LeaseAgreement, includingany additionaldocumentsor instruments deemed necessaryor advisableto carry out the intentofthese resolutions,with such determinations conclusively evidenced by the execution thereof;and it is further RESOLVED,thatanyactions takenbyTrust or John A Engerman, as MemberandAudiorized Representative of the Company, beforethe dateof theseresolutions that are consistent witiiandin furtherance oftheforegoing resolutions, arehereby approved, ratified, andconfirmed asvalidacts ofthe Company;and it is furdier CERTIFIED, thatthe undersigned Authorized Representative is dulyauthorized to makethese resolutions andthatthe certification is bindinguponthe Company. [SIGNATURE PAGESFOLLOW] [SIGNATURE PAGETO THE CERTIFIEDRESOLUTIONS OF THE MEMBERS OF KRONPRINDSEN GADE DEVELOPMENT GROUP, LLC] Witnesses (two): Pnnt Name Signature PrailName Signature Member Kronjp^ pde Development Group LI John A Engerman Title: Ailhorized Representative Sole IN^mber: ealty RevocableTRUST Name: Sabrina Leonce Title: AuthorizedRepresentative and Attomey-in-Fact TERRITORY OF THE US VIRGIN ISLANDS DISTRICT OF ST. THOMAS / ST. JOHN ACKNOWLEDGMENT Theforegoing document wasacknowledged before methis day of Februaiy, 2025 by, the Authorized Representativeof KG REALTYREVOCABLE TRUSTfor the purposes contained therein. Notary Public -vo/^ My Commission Expires: CHARMAINEA. DUNCAN HcAsii Public StThomas/St. John. U.S. Virgin Islands NP-814-25 Mm Commission Expkes March 5.2029 PROOF OF OWNERSHIP (X ) Deed ( X ) ^Vlap (if referenced in deed) ( N/A) Title and Encumbrance Certificate :c mtouoM vm THIS IMDBHTDRB, Bad* this ? day of betwssn TOPA BQUITIBS (V.I.) LTD., INC., Of St. Thosas, U. S. Virgin Islands, a Virgin islands corporation, (hsreinaftor roferred to as "Grantor") and GOVERNMENT OP THE DNITED STATES VIRGIN ISLANDS, the duly constituted govemaent of the Territory of the U.S. Virgin Islands, (hereinafter referred to as "Grantee".) WITNBSSBTBS That for and in consideration of the considerations set forth and the nutual undertakings contained in that certain Exchange Agreoment between the parties,, as approved by Act No. 6064, Twentieth Legislature of the Virgin Islands, effective the 30th day of Deceaber, 1994, and other good and valuable consideration, receipt of trhich is hereby acknowledged, TBB OUdlTOR BBRBBV GRANTS AND COHVBfS to the said Grantee, its successors and assigns, all of its right, title and interest in the real property described as follows: im' Parcels No. 8lA and 81B Xronprindsens Gade Kronprindsens Quarter St. Thoaas, U.S. virgin islands as acre particularly shown on P.N.D. Drawings dated April 27, 1953 and January 23, 1941. TOOBTBBR HITS all the iBqprovttaents thereon and the appurtenances thereunto belonging. TO HAVE AND TO SOLO the preaises conveyed hereby unto the said Grantee, its successors and assigns* in fee sisqple forever. IB BirmB BBBRBOP# the Grantor has signed this instruaent as of the date first aisove written. Topa Bqpaities (VI) Ltd., Inc. TERRITORY OP THE VIRGIN ISLANDS ) ) SS: JUDICIAL DIVISION OP ST. THOMAS AND ST. JOBK ) The« foregoing inatruaent was acicnowledged before me tbie by .6. ftftiUfsevi of Tope Equities (VI) Ltd, Inc., a Virgin laiende corporation, on behalf of the corporation. BOW bouSmnn Notonr Mue-CoesMa LOS ANOafS COCNTV My Cwi'iie<ui eeim OtMbm 2. Notary PubjLic Commission Expires: I HEREBY CERTIFY that this deed represents a transfer of title to the grantee. Government of the Virgin Islande, and is therefore exempt from tax stamps, all in accordance with Title 28 V.I.C. S 134(3). NOTED IN THE CADASTRAL RECORDS FOR COUNTRY/TOWN PROPERTY. 8C0K FOR KRONPRINDSEN'5 GADS,KRONPRINDSEN'S QUARTER,ST.THOMAS,VIRGIN ISLANDS. Of the ueute Maria Tankenson Hodge, ATTESTi > ^1 ft is hereby certified that tfi abc^iR mentioned proper;y/s whicn, acwdlri? tn oupCLAIM DEED dated:^el:^axy 9, b^O^nL^'tO: THE government.OP^HE IN ISL V. 1. .Dated; rs XnepriDdmGad«N» 76 TRD-E.537 GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES CNARLOm IMWAltf. tT. THOMAt, VX OOttl OIPARTMINT OF FINANCE • TREASURY DIVISION TC: IHE REOORI^ OF DEEDS mHi IHE lEEASUFY DIVISION IN AOXSIDANCE VTITH Title 28. SECTIGN 121 AS AMENDED, THIS IS GESnnCATION TK/O: THERE ARE NO REAL mPESTi TAXES OUISZANDINC FOR RALPH M. PAIEVONSKY ASSOCIATES SlA & B Kroi^rindsena, Crown PrliKte QIH. (PARCEL NO. RESEARCHED BY: TIILE: DATE: VERIFIED BY: TTIIE: DATE; onrijooR NO. <^os' I-05302-4720H)0 CA»., ,»• iTodge ® orceoent Officer II January 20. 1995 lanthe de Alooal Teller II January 20i 199? 01 IM THE TERRITORIAL COURT OP THE VIRGXN ISLANDS DIVISION OF ST. TKOHAS AND ST. JOHN GOVERMHBNT OF THE VIRGIN ISLANDS, Plaintiff, 4738 Square Feet of Land consisting of Parcel lOA Kronprindsens Gade and Parcel 9B Kronprindsens Gade of Kronprindsens Quarter, St. Thoaas, V.I.: Hiiiiaa Rastie, Jr., and Karen H. Hilliaas; Mohaaed Abdallah and Shalid Abdullar d/b/n Hie Holy Land Store; UNKNOWN OWNERS and all others claiaing an interest herein, Defendants. CIVIL NO. S86/1993 ACTION FOR CONDEMNATION ORDER VESTING TTTLB THIS MATTER is before the court on the coBplaint of the Govemnent of the Virgin Islands for condemnation, accompanied by a Declaration of Taking, for the acquisition and physical delivery of property authorized by Title 28 VIC Section 411 fiS; seg. The court finds froa an examination of said documents that the Govemaent is entitled to possession of the stibject property and that the Government's right to such possession should be ratified and confirmed subject to the Government paying into the court the sum of money established by just compensation for the property taken. Thereupon, said stim in the amount of niree Hundred Ninety-six Thousand Six Hundred CERilFlEDATRUECOPY G^. V. 4738 Square Feet of Land, et al Civil Ho. 586/1993 Order Vestinq Title -2- Dspuly Dollars ($396,666.00) was delivered to the office of the Clerk for the use of persons entitled thereto pending final disposition. The court, being satisfied that all of the requirements of Title 28 VIC Section 421 having been met, finds the Government's right to possession should be and is hereby ®od confirmed and that title in fee simple absolute should be deemed vested in the Government of the Virgin Islands. It is therefore, by this court considered, OHMWD and MOUMBD: 1. that Plaintiff is rightfully in possession of the property described as, to wit; Parcel Nos lOA and 9B Kronprindsens Gade Kronprindsens Quarter St. Thomas, U.S. Virgin Islands, as shown more particularly on Keasure Brief attached hereto and made a part hereof. 2. that title in fee simple absolute in the above described property be and is hereby vested in the Government of the Virgin Islands; and 3. that this action continue in due course as to all Defendants above-named, or who nay be hereafter added and that notice be given by law. . ^ DATED: August S' 1993 ISHNAEL A. HEl Judge of the Territorial Court of the Virgin Islands Viola E. Sml IN THE TERRITORIAL COURT OF THE VIRGIN ISLANDS DIVISION OP ST. THOMAS AND ST. JOHN GOVERNMENT OP THE VIRGIN ISLANDS, Plaintiff, vs. 4738 Square Feet of Land consisting of Parcel lOA Rronprindsens Gade and Parcel 9B Kronprindsens Gade of Kronprindsens Quarter, St. Thonas, V.I.; Hilliaia Hastie, Jr., and Karen H. Williams; Hohamed Abdallah and Khalid Abdullar a/h/& The Holy Land Store; DNKKOHN OWNERS-and all others claiming an interest herein. Defendants. CIVIL NO. 586/1993 ACTION FOR CONDEMNATION ORDER PERMITTING SBBVtCE BY PUBLICATION This notion for a Order of Publication, filed by the Goverraient on June 28, 1993, came on for deposition before the Honorable Ishmael A. Meyers, and, the notion and memorandum of the Government's counsel having been duly considered, it is ORDERED that pursuant to Title 5 App. I, Rule 71A, Plaintiff Government of the Virgin Islands serve notice by publication in a newspaper having general circulation within the Division of St. niomas, U.S. Virgin Islands, at least once G^. V. 4738 Square Feet of Land, et al Civil Mo. 586/1993 Order Pemitting service By Publication -2- a week for a period of not less than four (4) consecutive weeks, its' Petition of Condennation and Declaration of Taking filed in the above entitled natter. DATED: August ^ 1993 ISKHAEL A. MBV: Judge of the Territorial'Court of the Virgin islands ATTEST CE^Jdl^EDA ECOPY VIOLA B. SMITH histrator/Clerk of the court IRO CMTEKD W RCU IKRSONAl) quARre ruse n ✓ VMaE.S / Deputy IN THE territorial COURTOF THE VIRGIN ISLANDS DIVISION OP.S.?T:. JO??.... RECEIVED V.S. Fiaistiff 4738 SQUARB PBET OF LAUD CON SISTING OF PAHCBL IDA KRONPRINDSENS GADB AND PARCEL 9B KRONPRINDENS GADB OF KRONPRINDSEIfS .QUA8TKB,.AT,..TBPEAa.EC.AL Oetadntt AilG 0 9 1993. «uuv;iivoGEN,fiJEElCfc ACmm FOR CONDEMNATION CIVIL NO. S86/93 TO: ROBERT BORNHOLT NOTICE OF Bmiy OP .ORRBR..VSSXIKa.XLTLS.. AND ORDER PBRHITTING SERVICE BY PUBLICATION BSQtnBE Ptotw tikeaoOee tkit m ?. w.O?. P.BPSB9 eotend by tUi Ceuit la tks liieveeatiQad nutter. — lO Co Dtted: AH5P.^..6.*..L§9.3 ^ • lo si VIOLA E. SMITH*" Gxas OP m oooiT •y' U.. I K• v;;-; • -i;; • This is to certify tliat tne aDore mentionea proper-syt' does not owe any overdue taxes to the Uxinloipallty <rf St» ^ Thomas and St. John. Office of the Tax ^sessori st.ThCTias^T.I.of U.S.A. June SS, 1954. R. C. Uiller, Tax Assessor. Noted in the Surveyor's Record for country property of St. Thomas and St. John, Book "D* page 108. St. Thomas, 7.1. January 88, 1955. Donald S. Boreham, Assistant Commissioner of Publio Works. v * Received for recording at the Recording Office on the 30 day of January 1935 at 2 oSolock p.m. Wilh. Jensen, Reoordef. . ^ • No. 6 M DEED -W This Deed, made this 9th day of January, 1935, between V. Herbert E. Lockhart, and Axel R.D. Kirketerp, of St.Thomas, \ ^ Virgin Islands of Ihe United States of ^iierlca, executors cf y the last will of _.H. Lockhart, late of St. Thomas, Virgin (• Islands of Ihe United states of Anerlca, deceased, partis of the first part, and the Municipality of St. Thomas and St. John of the Govemmait of the V^gin isl^ds of the , United States of ..merica, party of the seoond/^art. , -i ' 1935 jbrufery 8« V.i'-.'.T. Whereas, by his last will dated the 20th day of April 1928, the said A.H. Lockhart appointed the said parties of the ae'exeoutora thereof; and •whereas the said ®t93tatctr''di8d on ,the 27th day of April, 1931 and his said ^wlAl^wife: on the 4th day of May, 1931 duly proved and allowed by the District •6t)urt Municipality of St. Thomas and St. VJohn of'the Virgin Islands of tiie Onited states of Anerioa, . ^the'Probate Court of said Virgin Islands of the United State; and . •' • Whereas by an order of license made by said District Court on/the i3th day-of December, 1934, which said order of license has been dily entered in the records of the District Court at St, Thomas, end a certified copy of the same has been attached to'and made a part hereof,- we, the said Herbert E. Lockhart^and A^ r.D. Kirketerp, in our capacity of executors aforesaid, wej>iPlutharlzed and empowered to sell at private aale"*th6 reri estate of the said A. H. Lockhart hereinafter described ;^Shd, Whereas, we the said executors, having in all things fully complied with the said order and with the requlremeit a of the statute in such case made and provided, did on the S^th day of December 1933, at St. Thomas, Virgin Islands, of the United States of America pursuant to said order, sell by private sale the real estate hereinafter described to the Municipality of St. Thcmas and St. John of the Government of the Virgin Islands of Ihe United states of America, for the sum of One" Thoussnd One Hundred and Eifty-eight ($1,158«00; Dollars. NOW, THEREIORE, khtness that we, the said Herbert E. Lockhart and Axel R.D. Kirketerp as executors aforesaid, by virtue of the power and authority vested in us as aforesaid and in consideration of the said sum of One Thousand One Hundred and Fifty-eight $$1,158.00) Dollars, to us in hand paid by the said Municipality of St. Thomas and St. John of the Governnent of the Virgin islands of the united states of Anerica, the receipt vbereot is hereby acknowledged, do hereby bargain and sell, grant ani convey, release and claim unto the. said Municipality of St. Thomas fud St. Joto of the Government of the virgin Islands of the United States of Anerica, its successors and assigns, all that tract or parcel of land situated in St. Thomas, Virgin Islands of the united States of .urerlca, known as . ^ Nos. 9a and 10b Kronprinsens Gada and C^uarter Together with all'right 3. privileges, ir^j^oyements ^d appurtenances belonging or in any wise appertain^g thereto, and all "^e right, title, and interest in and to me said property. To Ha-^e and To Hold unto the party of the second part, its successors and assigns, in fee simple forever. With regard to a certain easement. recorded on A^il 1* 1878 against No. 10 Krcnprlnsens Gade and in favor oj 11 Kronprinsens Gade it is remarked that the right etc. described in said easement concerns only No. 10 Krcaiprlnsens Gade Y.hich is now a separate property and numbered as No..lOa Kronprinsens Gade. WITt.^SS WHEREOF the said P^rti^ of the flr^ part, executors as aforesaid,- do hereunto set their hand and seal the day and year first wrUten. Signed, sealed and delivered in-the presence of: TMele Chas. C- Hay. H. E. Lockhart (Seal) Axel R.D.J^irketern (Seal) •pyao^itors .of the Estate^ Or . A. H. Lockhart. >''S 1 1935. WAWi'^W'. V• •• : r-^ • —" —♦— Slmedi sealed and delivered H. E. Loekhart (Seel) in the presence of: jixel P,D»Kirketerp fseal} T' iele Executors of the-Estate or Chas. c. Hay. A. H. Lockhaxt. AFFIDAVIg VIRGIN ISLolffiS OF 1HE UNITED STATES OF AMERICAjes. MONIGIPALITr OF ST. THCMAS Al^D ST. JOIiil ) The undersigned, Herbert E. Dgckhart, after being sworn, deposes and says that he is the 'uly authorized ^d appointed executor of the Eatateof _» H. Lockhart, and ^d on behalf of said ^state acknowledge receipt of the cona dera tion of One Thousand one Hundred and Fifty-ei^t ($1,158.00) Dollars, and the execution of the forogcdng deed to be his free and wilful act, pursuant to the order of the District Court of the Virgin Islands of the United statesof America. Herbert E. Lockhart Executor of the Estate of A. H. Lockhart. Subscribed and sworn to before me this 9th day of January, affidavit George A\ Mans,. NotAry Public. VIRGIN IBIANDS OF THE UNITED MUtiL/lPALTn" OF ST. THCMAS ^u3> S^'JINT JOHN X wxr The underatflne^Axel R. Q. Kirketerp, after being auly -- l-ir^ : • • Tmi» 1955 Jebruary 8* ^ • . • i., Tf -r.'. K ,l;" V' M:'.^ •.V . v> : • y. STOm, deposes and sa^ that he Is the duly authorized q,Tid appointed ezecutor of the Estate of A. H» l-ockhart, and did on behalf of said Estate acknowledge receipt of the consideration of One Thousand One Hundred an|B^ifty- eight ($1,158«Q0) Dollars, and the execution of tSe foregoing deed to be his free and wilful'act, purauaiit" to the order of the District Court of the Virgin Islands of the Hnited States of America. Axel R.D. Itirketerp a • V. ,-j Executor of the Estate of " A. H. loo: hart n- Subscribed and sworn to before ad on this 9th day of V: January, 1935.^ George A.mena, . Notary Public. . * • »a X An attached Copy of Order for Sale, as follows: (Stamps: prs. S.OO) CO'FZ /in the District court of the Virgin Islands H.S.A. St. Thcmas and St. Jan Sii> Judicial District In the matter of the Joint estate of Alfred Harris Lookhar-t, deceased, and his wife Catherine vilhelmina Lockhart •predeceased. — ':.No. 8/1951 Order for sale of Real Estate Upon petition of .HerWt E. Kirketerp, the exeoutors of the above entitled waying for an order authorizing them to sell at private faTtL properties No. 9a, 9b, and 10 f ^4. mhonee beloiKliK to the estate, and it appearing toaj the heirs Interested in such sale have consented thereto, and It further appearing that the estate is solvent. The Court being satisfied Jim the thfit the executors be and hereby are authorized to se^ the ^^arties No. 9a, 9b, and 10 Kronprinasensgade, St. Thomas, g°??^va?a s^^d ti make, execute and deliver good and sufficient deeds for the sane . IH -rsSTIliONT V/EEHEOF, I have name and caused the Seal of the Court to be affixed this 13* day cf December. A.D. 1954. ATTEST; Wilh. Jensen, Clerk of the Court. T. Webber Wilson, Judge. (seal) certified a true copy. .TMMAn^' Ibr The Property No. 9a Kronprindsensgade, Kronprindsens Quarter In fee Tcfwn of St. Thomas (Charl tte Aaalie) on the Island of St. Thontis, Virgin Islands ofn^.S.A. This is to certify that the ebove mentioned 'ot ac>--ord- ing to the Surveyor's Records for the Town of St. "nioiiias (Charlotte Amalie) Booh :il, Folio 6, survey of Dec. 28, 1954, has the foHewing houndories: in the north 608 feet towards ^rindsesse Gade n n south SO.4451 " " laonpr indsensgade & No.Sh. ronp, " ♦ east " Kan 1 ^^ade . ^ « west Qlj^9*107.1 " " No. 9b &No. 10b Kronp.gade The area is about 9305 square feet. U.S. The frflSice of the Public Works Officer (public Surveyor) St. Thomas, December 28, 1934. ' Donald s. Boreham, Assistant commissioner of Public Works. s N 7^0.9^ attest That the above mentioned, property,Jtoloh ao**:,>^ cording to Deed dated January 9, 1935 belongs^ to the Municipality of st.Thomrs 5-. St John, has not, according to the records, . any feances as to boundaries and area is here- _ Tto°Offic-e of the public Vfor a Officer, , j St. Thomas, February 6, Donald S. Boreham | A::sistant consnlssloner of Public ..orks. j X, •»/ JjSJL rr)i§C?'- . CJ'.T-- - t •- .w- ^• -i,. ; -.v-^v-- -'-• -' r, '? • d ME^ASDSE BRIEF For the Property No, 10b Kronprindsensgade Kronprlndsens ^tJarter In tho Town of St.Thcsaas (Charlotte Amalie) - on the island of St. Tbomaa, Virgin Islands of U.S.A. This is to certify that the above mentLoned lot ac cording to the Surveyor's Records for the Town of St. Thomas (Charlotte Amalie) Book III Folio 65 survey or December 26, 1934, has the following boundaries* to the north " " south •* »» east « n west TTt 41.7 feet towards Frlndsessegade « " No. 10a Sc No.11a Kronp.gade 134.i " " No. 9b & 9a Kronp.gade 27/6 *107.1-" " No. 11a lib Kronp.gade & ' ----- - No. 39 Prindsessegade. • The area is about 5408 aq.iiare feet. U.S. The office of the Public Wor s officer (Public Surveyor) / St. Thomas Decemb^ 26, 1934. Donald S. Boreham Assistant Conmissioner of Public Works w Ke.39 V N. S b; s >s. Ne.a®' ATTEST: That the above iamtioneS property, which according to Deed dated January 9, 1935, belongs- to me Municipality of St Thomas & St. John has ntt, according to the Records, undergone any changes as to bonndaries and area is hereby certified. The Office of the Public Works Officer. St. Thomas, Feb. 6, 1935, Donald S. Boreham, Assistant CocmiEaiollBr of SWblic Works", N*. fi ^ 1' •14ft. 9 This is to certify that'the ab5ve mentioned property does not owe any over due tares to the Municipality of St. Thomas and St. John. Office of the Tar Assessor, St.Thomas, Virgin laLands U.S. . . . February 6, 1935. R. C. Miller, Tax Assessor. Noted in the Surveyor's Record for the town of St Thomas, V.I. book III page 6 and 65. St. Thorns, V.I. of U.S.A. Februaiy 6, 1935. Donald s. Boreham, Assistant Commissioner of Public Works. Received-for recording at the Recording Office, on the 8th day of February 1935, at lo o'clock a.m. I•i'l • Wl.Th.- Jaw PAT*-.; /^v :lz OUTTCLATH PEEP THIS .QUITCLAIM DEED is aadS this:7fc?^aV of / 1996, between (SWEiJDOLVH E.; KEAN, acMng. by and through her court- appoint^ guardian ERMA B. 5E(7£R, whose address is P.O. Box r4.15, St. Thonas.^ Virgin islands. 00804 ("the MGrantor.'*), pursuant to orders ot the Territorial Court of the virgin Islands dated December 4, 1989; and Havener.- 10, 1995, certified copies of which are attached hereto and made a part hereof,, and. the GCVERHKENT OF' THE VIRGIN ISLANDS, acting through the Department .of Property and Procurement,, whose address is Building No. 1, Subbase, St. Thomas, Virgin Islands QQ802 (the Grantee.?') • W T T N E s. S E T Hi That the israntor, for and in cohslderatioii of the sum of FORTK-nOZEE THOUSiUfD TWENTY-.OHB DOLLAKS (;$40,02.1.00) and Other good and valuable consideration, receipt of which is hereby acknowledged, does by these presents hefeby remise, release and forever guitolaim to the Grantee,^ all of the Grantor's right, title-, interest, claim auid demand in that certain real property ..situated ih St. .Thomas., U.S. Virgin Islands, described as follows: Parcel Nos.. 5B. & d Store Strade, Xrbnprindsens Gade consisting of 0^911. sguare feet, more or less as shown On Gibney -Grey and Associates Map NO. Dg-5.922-T95 dated April 15, 199.5 ?rOGE?^ER With all the Grantor's; interest in the improvements, tenements, hereditaments and appurtenances thereunto belonging;. ftultclalm OaaA .V«g« - 2 r TO HAVE AND TiO HOLD said right, interest, ;claira and demand :of the Granter un;t6 the Griintoa and to its sucoessors aiid assigns .forever. IN WITNESS HHERSOF, the Grantor has- duly executed this deed the day and ye^ first, above Written. WITNESSES: H\Fe ^•g.-yyrTJJ jeii G^DOLYN E.; K^N, k^-ahT^hrouff her court-ap£>o.ihted guardiah ERMA .3. SEWER TERlilTORY, OF THE O.S., VIRGIN ISLANDS DISTRICT OF ST* THOMAS AND ST. JOHN * ^ -i theg&UiMaV of .. 1^96 before, me, the undersigned officer, petsonall^appeared, ERKA B. SEWER, as cburt appointed guardian for Gwend.olyn E, Xean, known tp me for satisfae^otily proven) to be the petaoh whose name is subscribed to thQ -Mthin iiistziwehb and Acknovlcsd^Gd tha'b exccutGd. same fot the purpose therein contain^ on behalf of Gwjandciyn E. Kean. IN WITNESS- HEREOF, i hereunto set my hand an seal. /y ' CERI'IPICAT^ QiP VA It is HEREBY CER^FIEP that this' conveyance *.a ox^nL jfrpm Stamp taxes and recording fees by virtue pf V-I. Cpdw Aim, tit, 33, S 128(ij and V.I.i Code Ann.-tit, 28, § .134(a) (3) 4 APPROVED. AS TO LEGAL SUFFlClENCf .t)BPARTMENT OF JiJSTI.CB ' By.; Assistant Attorney General bi\Z»S\02\ttiir.CLA ) ) SS:. Notary P.vbli'cx? r^ MAS A(«0 « ElKflUPtRSOfjAll I OUARTEB NO. MTli .«»V-ieerW^ m TWMtUJwuoi'B pniceFSi ..JOKH, Vti«N jSlANDSDF THE UiacM ,SU8 H0>^// ,<tf»PJ»*TttCyW). PROPERTY RC^STBL^R (AUXILADY j Assessor Cittlce* Iqitsrr It is' horeljy c^Med. that tHe imntiorwd proj^rly/s wnich, accorfllo^ ta 6UITC1AIM DEED daced April 22,1996. MongS tot THE. GQVERSHENT OF ife VXRglM JSLAKPS.acting through the Depactnsnt•of lias not, acocfding- to tt» tttfs- office, itndefsone any ctaives a^o * tOun^e^ aiid. arel Cadastral .Survey/TM Asses^ Offices SlJf^sQsn iE.U t>atfid» Jane 12.1996. p —I - uwrtensTO Callwo'Qd.-»T tfto UsutsnaRt Oever and