Waterpark Lease Agreement

WATERPARK LEASE AGREEMENT

Parties

This Lease Agreement is made between the parties identified below. Lessor and Lessee agree to be bound by the terms and conditions set forth in this Agreement.

Property Identification

Term

The term of this Lease shall commence on and shall expire on (the "Term"), unless earlier terminated in accordance with this Agreement.

Rent and Financial Terms

Rent is payable in advance on or before the day of each calendar month at the address for payment set forth in this Agreement or at such other place as Lessor designates in writing.

Use and Operation of Premises

Lessee shall use the Premises solely for operation and public use of a waterpark, related retail, food and beverage concessions, seasonal events, and ancillary uses reasonably related thereto. Lessee shall operate the waterpark in a first-class, safe, and commercially reasonable manner, maintain all required permits, and comply with all applicable health, safety and building codes.

Maintenance, Repairs and Capital Improvements

Lessee shall maintain the Premises and all waterpark systems, slides, pools, filtration, chemical handling and related equipment in good repair and safe working order at Lessee's sole cost, except for structural repairs expressly identified as Lessor's responsibility below.

Utilities, Taxes and Assessments

Responsibility for utilities and real property taxes is allocated as follows (check applicable boxes):

Tenant responsible for utilities Landlord responsible for utilities

Tenant pays any assessments attributable to operations Landlord pays real property taxes (unless otherwise prorated)

Environmental, Health and Safety

Lessee shall strictly comply with all environmental, health and safety laws applicable to water treatment, storage and handling of pool chemicals, discharges, and hazardous materials. Lessee shall not store hazardous substances on the Premises except in compliance with law and Lessor's prior written consent. Lessee shall maintain material safety data sheets and train employees in safe handling.

Insurance and Indemnity

Lessee shall maintain, at Lessee's expense, commercial general liability insurance, property insurance, workers' compensation and any other coverage required by Lessor with limits no less than those set forth below, naming Lessor as additional insured to the extent of Lessor's interest. Certificates evidencing such insurance shall be delivered to Lessor prior to commencement of the Term.

To the fullest extent permitted by law, Lessee shall indemnify, defend and hold harmless Lessor from and against all claims, liabilities, damages and expenses arising out of Lessee's use or occupancy of the Premises, except to the extent such claims arise from Lessor's gross negligence or willful misconduct.

Casualty, Condemnation and Restoration

If the Premises are damaged by casualty, Lessor shall notify Lessee and, subject to insurance proceeds and the nature of the damage, either restore the Premises or provide termination rights. Rental abatement, restoration obligations and termination rights shall follow the allocation described herein and in any riders.

Default and Remedies

The occurrence of any of the following shall constitute an Event of Default by Lessee: failure to pay Rent within the time prescribed, abandonment of the Premises, failure to maintain insurance, or material breach of any covenant. Upon default, Lessor shall provide written notice and Lessee shall have days to cure where curable. If not cured, Lessor may pursue all remedies at law or equity including termination, recovery of Rent, and damages.

Assignment and Subletting

Lessee shall not assign this Lease or sublet the Premises in whole or part without Lessor's prior written consent, which shall not be unreasonably withheld for transfers to an affiliate or purchaser of substantially all of Lessee's operating assets subject to reasonable credit and operational assurances.

Disclosures

The parties acknowledge the following known conditions affecting the Premises (select Yes or No):

Lead-based paint present: Yes No

Known mold or moisture damage: Yes No

Prior structural damage or significant repairs: Yes No

Governing Law; Entire Agreement

This Lease shall be governed by and construed in accordance with the laws of the state in which the Premises are located. This Agreement, together with any exhibits and riders executed by the parties, constitutes the entire agreement between the parties and supersedes all prior negotiations, representations and agreements.

Notices

All notices required or permitted under this Lease shall be in writing and delivered to the addresses below by personal delivery, certified mail, or courier, and shall be effective upon receipt.

Additional Provisions and Riders

The parties covenant and agree that each has the authority to enter into this Agreement, that all representations herein are true and correct, and that this Agreement is binding upon and inures to the benefit of the parties and their respective successors and permitted assigns.

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