Resort Lease Agreement

No reference to a particular right or remedy shall prevent the Contracting Parties from exercising another right or remedy or maintaining measures to which they may be entitled by other legal or equitable means. No failure by a party to insist on strict compliance with any agreement, provision, agreement or condition or to exercise any remedy as a result of a breach, or the acceptance of rent in whole or in part during the pursuit of such breach, shall constitute a waiver of any such agreement, term or condition. No waiver by either party of a breach by the other party under the Lease Agreement shall affect or otherwise modify the Lease Agreement. (k) the Tenant`s delay in performing or complying with any other agreement or agreement in this Rental Agreement. . that at no time does debris flow or flow from the site to the adjacent simpson Bay sea, (xii) regularly wait for all tanks and check for possible leaks, (xiii) comply with and comply with all rules and regulations established from time to time by the lessor, which generally apply to the lessee; (xiii) obtain all necessary restaurant and bar and operating authorizations and licenses and maintain such authorizations and licenses in good condition; and (xiv) to manage its stores in all respects with dignity according to the highest standards of a restaurant and bar. As part of these requirements, the tenant undertakes to follow the appropriate instructions of the lessor in order to adapt all music (in terms of volume and genre) audible outside the premises, so as not to have music different from different locations which, according to the sole and appropriate determination of the lessor, interferes with the enjoyment of the premises of the resort in and around the rented premises. The tenant must also ensure that the site located outside the restaurant under the Cabanas is cleaned every day at the end of the day. the owner of the rented or leased premises, i.e. Simpson Bay Resort Owner Company B.V. The provision below is the agreement between the parties on certain fundamental leasing provisions (“Essential Leasing Provisions”). The parties or their related undertakings are not relevant or accepted for determining the importance of any of the terms of the lease. When establishing this rental agreement, no guarantee, agreement or agreement has been concluded or has been the subject of any agreement that is not expressly mentioned therein.

All prior notifications from the Lessor regarding the estimated costs to be paid by the Lessee are for information purposes only and should not be construed as assurances of the actual costs that the Lessee must pay under this Agreement, are in some way binding on the Lessor. This lease can only be modified by a letter signed by each of the parties. Hotel rental contracts remain the most common form of hotel operator contracts in Europe. In these contracts, the owner of the hotel, the tenant of the hotel, makes available to the tenant the usufruct of the property of the hotel and all the constituent elements of the rented property. In the case of hotels, the rental agreement usually includes equipment, furniture, equipment and equipment, as well as all the facilities necessary for the operation of the hotel. Usufruct means that the hotel tenant manages the hotel under his own name, on his own account and at his own risk. Based on reports from leading hotel organizations in Europe (Germany, Austria, Switzerland, Italy, UNITED KINGDOM, Spain, and France), hotel owners using management contracts can typically achieve an average EBITDA of between 19% and 21% of the hotel`s total revenue. . . .