December 4, 2007
9740 Scranton Road,
San Diego, CA 92121-1745
RE: Lease Agreement between Flagler Development Company, LLC and PriceSmart, Inc.– 10800 NW 100 th Street, Suite 1-
12, FL 33178
To Whom It May Concern:
Attached for your file is an executed agreement.
Please be reminded that your company must provide us with a certificate of insurance evidencing the insurance coverage (See
Item No. 5 per lease) before your company moves into the premises stated above. Please make sure that the certificate states
FLAGLER DEVELOPMENT COMPANY, LLC “As Additional Insured”.
If you have any questions, please feel free to contact the undersigned.
THIS LEASE AGREEMENT (“ Lease ”) is made as of the date upon which the latter of the parties hereto executes the same
as set forth on the execution page hereof (the “Effective Date”), by and between FLAGLER DEVELOPMENT COMPANY,
LLC, a Florida limited liability company, an address of which is 10505 N.W. 112 th Avenue, Suite 14, Miami, Florida 33178 (“
Landlord ”), and PRICESMART, INC., a Delaware corporation, an address of which is 9740 Scranton Road, San Diego,
California 92121-1745 Attention: Legal Department (“ Tenant ”).
1.1 PROPERTY AND PREMISES.
Landlord hereby leases to Tenant and Tenant hereby leases from Landlord Suites 1 and 12 (the “ Premises ”), which is
deemed to contain 126,767 rentable square feet of space, in the building known as Building #26 located at 10800 NW 100 th
Street, Medley, Florida 33178 (the “ Building ”), which contains 200,709 rentable square feet. The Building is included in a
multiple-building business and industrial park known as Flagler Station (f/k/a Beacon Station) (“ Park ”). The Building and the
location of the Premises are as shown on the Site Plan attached hereto as Exhibit A . The legal description of the Building is set
forth in Exhibit A-1 attached hereto (the “ Building Land ”). Within 30 days after the Ef