THIS AGREEMENT, entered into this 14 th day of May 1999 between Richard Bulow - 217 N.
Country Club Dr., Atlantis, FL 33462 Phone 561 966 8000, hereinafter called the lessor, party of the first part,
and Gulfstream International Airlines Inc. 1815 Griffin Rd.Ste 400 of the County of Broward (City of Dania) and
State of Florida 33004 hereinafter called the lessee or tenant, party of the second part:
WITNESSETH, That the said lessor does this day lease unto said lessee, and said lessee does hereby
hire and take as tenant under said lessor East or 4000 sq ft approx. known as Bay D at 4100 Ravenswood Rd.
Dania, FL., ZIP 33312, together with ½ acre approx. on East end of property, to be used and occupied by the
lessee as repair, storing & distribution of airline equipment only. and for no other purposes or uses whatsoever,
for the term of Five years, subject and conditioned on the provisions of clause ten of this lease beginning the 15 th
day of June 1999, and ending the 14 th day of June 2004, at and for the agreed total rental of $181,500.00 plus
four CPI Index adjustment at the end of each lease year and never to go below the 1999 rent of $3025.00 per
month, payable as follows:
Lessor acknowledges first month rent of $3025.00, and the last months rent of $3025.00 plus (CPI adjustments
to be made later) for a total of $6050.00 all due at the signing of lease.
Lessee agrees to accept premises as is and will make any improvements they require. Lessor to be responsible
for Real Estate Taxes & Property Insurance
Paragraphs 22 through 35 to be attached to standard Business Lease form.
Late payment penalty of 5% after 10 day grace period
Lessees employees and building trades may occupy leased space any time after lease is signed to oversee
improvements and install equipment.
Proposed building plans for Wm Funderburk to be approved by Richard Bulow and made part of this lease.
These improvements are to be made and are reflected in the already reduced month