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13. OPERATING EXPENSES. The parties hereby agree that this shall be a triple
<br /> net Agreement, and City and DPD shall have no obligation to provide any services,perform any
<br /> acts or pay any expenses, charges,obligations or costs of any kind whatsoever with respect to the
<br /> Premises, and G &H hereby agrees to pay one hundred percent(100%)of any and all
<br /> "Operating Expenses" as hereafter defined for the entire term of the Agreement and any
<br /> extensions thereof in accordance with specific provisions hereinafter set forth. The term
<br /> "Operating Expenses"shall include all costs of operating and maintaining the Premises, and shall
<br /> include, without limitation, real estate and personal property taxes and assessments,management
<br /> fees,heating, electricity,water,waste disposal, sewage, operating materials and supplies, service
<br /> agreements and charges, lawn care, snow removal,repairs, cleaning and custodial, security,
<br /> insurance,the cost of contesting the validity or applicability of any governmental acts which may
<br /> affect operating expenses, (including without limitation, all systems and equipment, i.e., HVAC
<br /> systems,doors,windows and floors, if any), and all other costs of operating and maintaining the
<br /> Premises, unless expressly excluded from Operating Expenses.
<br /> 14. ASSIGNMENT AND SUBLETTING. G&H shall not assign, transfer or
<br /> encumber this Agreement without the prior written consent of City and DPD,which said consent
<br /> shall not be unreasonably withheld. G&H shall not sublease the Premises or any part thereof
<br /> except as authorized by the slip rental provisions of this Agreement. For the purpose of this
<br /> provision, any transfer of a majority or controlling interest in G&H (whether in one or more
<br /> related or unrelated transactions), whether by transfer of stock, consolidation,merger, transfer of
<br /> a partnership interest or transfer of any or all of G&H's assets or otherwise, or by operation of
<br /> law, shall be deemed an assignment of this Agreement.Notwithstanding any permitted
<br /> subletting,G &H shall at all times remain directly,primarily, and fully responsible and liable for
<br /> compliance with all obligations under the terms and provisions of this Agreement.
<br /> 15. CONDITION OF PREMISES. G&H acknowledges that it has inspected the
<br /> Premises and G &H accepts the Premises in its present condition. Upon the termination of this
<br /> Agreement(except for damage caused by fire or other perils) G&H, at its sole expense, shall(a)
<br /> surrender the Premises in satisfactory condition as determined in the sole discretion of DPD,
<br /> subject to reasonable wear resulting from uses permitted hereunder; (b)have removed all of G&
<br /> H's personal property from the Premises,if any; (c)have repaired any damage to the Premises
<br /> caused by the removal of G &H's personal property; and (d)leave the Premises free of trash and
<br /> debris.
<br /> 16. EARLY TERMINATION. If this Agreement is terminated prior to the natural
<br /> expiration of the Initial Term or any renewal Term, City and DPD shall reimburse G&H the
<br /> non-depreciated remaining value of the slips constructed on the Premises. The parties
<br /> acknowledge and agree that the value of the improvements constructed pursuant to Phase 1 shall
<br /> not exceed $400,000.00. The amount of reimbursement to be paid to G&H upon termination of
<br /> this Agreement shall be determined in accordance with a straight-line depreciation schedule
<br /> attached hereto and incorporated herein as Exhibit C.The depreciation schedule for Phase 1 shall
<br /> be drafted in a 20-year straight-line depreciation model to coincide with the length of the Initial
<br /> Term of this Agreement. Exhibit C shall be supplemented as necessary in accordance with these
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<br /> 3/11/2022
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