EFTA01086686

ASSIGNMIVIT OF COASTAL ZONE MANAGEMENT PERMIT NOS. CZT-4-99(W), CZT-81-87(L) and CZT-53-85(SL) ASSIGNMENT made this r3 kday of atedistear , 2006 from MOF VI Limited Partnership, a U.S. Virgin Islands limited partnership, whose mailing address is, 4801 Spring Valley Road, Suite 80, Dallas, Texas 75244 (the "Assignor") to IGY-AYH ST. THOMAS HOLDINGS, LLC, a U.S. Virgin Islands limited liability company whose mailing address is cio Island Capital. Group LLC, 717 Fifth Avenue, 18th Floor, New York, New York 10022 (the "Assignee"). WHEREAS, Assignee is the Permittee under Coastal Zone Management Permit Nos. CZT-4-99W, CZT-81-87L and CZT-53-85SL with effective dates of September 14, 2000, May 12, 1988 and January 24, 1986, respectively, copies of which are attached hereto as Exhibits A, B and C and made a part hereof, together with any and all modifications, extensions, renewals, applications for renewal and reconstruction permits issued in connection therewith (collectively, the "CZM Permits"), granted by the St. Thomas Committee of the Virgin Islands Coastal Zone Management Commission as Permitter, respecting the development, use and occupancy of the Premises described in Exhibit D attached hereto and made a part hereof together with the adjoining submerged lands; r WHE , Assignor and Assignee entered into a Purchase and Sale Agreement dated as of G Sa 6er .22 , 2006 ("Agreement") pursuant to which Assignee agreed that it would accept delivery from Assignor ot, and Assignor agreed to assign, transfer and deliver to Assignee, on the Closing Date (as defined in the Agreement), Assignor's right, title and interest in the Property (as defined in the Agreement) and Assignor agreed to deliver to Assignee an assignment, transfer and delivery as to Assignor's rights under the CZM Permits to be sold to Assignee, and Assignee agreed that Assignee would sign this document to evidence Assignee's assumption of the liabilities to be assumed by Assignee under the provisions of the CZM Permits; and WHEREAS, by this Indenture, Assignor intends to assign and transfer to Assignee, its successors and assigns, all of the Assignor's interest in the CZM Permits to be sold to Assignee as provided in the Agreement NOW, THEREFORE, pursuant to the Agreement and in consideration of the premises and of other valuable consideration, the receipt and sufficiency whereof are hereby acknowledged, and of the mutual covenants herein set forth, Assignor has 0a assigned, transferred, sold, remised, released, alienated, set over and confirmed and by ru these presents does assign, transfer, sell, remise, release, alienate, set over and confirm unto Assignee, its successors and assigns, forever, as an entirety, all of the rights and *N1 interests in the CZM Permits. TO HAVE AND TO HOLD all of the aforesaid rights and interests hereby assigned, transferred, sold, remised, released, alienated, set over, and confirmed or intended so to be unto Assignee to and for the use of Assignee, its successors and assigns. EFTA01086686 AND IN FURTHER CONSIDERATION as aforesaid, Assignor and Assignee, respectively, each for itself, its successors and assigns, has covenanted, bargained and agreed and by this Indenture hereby covenants, bargains and agrees each to and with the other, its successors and assigns, as follows: 1. Upon written request of Assignee, Assignor, from time to time, will execute and deliver to Assignee, without further consideration but without expense to Assignor, such other and further instruments of assignment and transfer as Assignee may reasonably request for the more effective assignment and transfer to Assignee of any of the aforesaid. 2. Assignor hereby makes, constitutes and appoints Assignee the true and lawful attorney-in-fact of Assignor, with full power of substitution, in the name and stead of Assignor, but on behalf and for the benefit of Assignee, to demand and receive any and all of the aforesaid rights and interests of Assignor, and to give receipts and releases for and in respect of the same, and any part thereof, and from time to time to institute, prosecute, appear in, defend and appeal in the name of Assignor, or otherwise, at the expense and for the benefit of Assignee, any and all actions, suits and proceedings at law, in equity or otherwise, which Assignee may deem proper in order to collect or reduce to possession any of the aforesaid rights and interests of Assignor and/or in order to collect or enforce any claim or right of any kind hereby conveyed or assigned and transferred, or to resist or defend against any claim, debt, obligation, liability or assertion or a liability assumed by Assignee, or intended so to be, and to do all acts and things in relation to the rights, interests, liabilities and obligations which Assignee shall deem desirable, Assignor hereby declaring that the foregoing powers are coupled with an interest and are and shall be irrevocable by any act of Assignor, or by its winding up and dissolution, or in any other manner or for any reason whatsoever. 3. Assignee agrees to assume, and hereby does assume, and agrees to undertake, perform and pay any and all obligations of Assignor arising on or after the date hereof in respect of the CZM Permits existing or incurred on or after the date hereof (collectively, the "Assumed Obligations") and Assignee hereby indemnifies and holds harmless Assignor against any and all losses, costs and expenses (including, without limitation, reasonable legal expenses) resulting from or relating to the Assumed Obligations. 4. This Assignment is made pursuant to the provisions of 12 Virgin Islands Code, Sections 901, et seq. and the Rules and Regulation promulgated thereunder. 5. This Assignment shall become effective immediately upon the later of (a) the approval of the St. Thomas Coastal Zone Management Committee or (b) the Closing Date as defined in the Agreement. 6. This Indenture shall be governed and construed by the laws. of the U.S. Virgin Islands and shall bind and inure to the benefit of the parties hereto and their respective successors and assigns. EFTA01086687 IN WITNESS WHEREOF, the parties have duly executed this Indenture on the day and year first above written. Signed in the presence of: GRANTOR: MOF VI LIMITED PARTNERSHIP, a United States Virgin Islands limited partnership Witness: Print Name: By: American Yacht Harbor, Corporation, its Witness: General P Print Name By: Ronald W. Rhoades, President Witness: GRANTEE: Print Name: IGY-AYH ST. THOMAS HOLDINGS, LLC, a U.S. V. • limited liability company Witness: Print Name: By: Name: /t n. La lc r" Title: Duly Authorized Signatory STATE OF 6€4., get it. ) ) ss: COUNTY OF yr „,,.., / 14fr, t ) The foregoing instrument was acknowledged before me this Cel day ofOres,lou , 2006, by Ronald W. Rhodes as President of American Yacht Harbor Corporation, a Delaware corpo • n, as General Patter of MOF VI Limited Partnership, a U.S. Virgin Islands limited pagher,bip o be f of said corporation and said limited partnership Notary STATE OF nit. /1 4./em k ) ) ss: COUNTY OF An... yo,t. ) The foregoing instrument was acknowledged before me this Lig day of De4-640,, , 2006, by W1 net (13 - Levi/ as the duly authorized signatory of IGY-AYH ST. THOMAS HOLDING% LI,C, a U.S. Virgin Islands limited liability company, a U.S. Virgin Islands ' •tecl liability y, on behalf of said limited liability company. EFTA01086688 GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES --o DEPARTMENT OF PLANNING AND NATURAL RESOURCES Division of Coastal Zone Management Cyril E. King Airport, Terminal Building Second Floor St. Thomas, Virgin Islands 00802 Fax: (340) 714-9524 ASSIGNMENT Tel.: (340) 774-3320 Coastal Zone Management Major Permit Nos. CZT-4-99W; CZT-53-85(SL) and CZT- 81-87(L) Permittee: MOF VI LIMITED PARTNERSHIP 1). AUTHORITY. These Assignments are for Major Permit Nos. CZT-4-99W; CZT- 53-85(SL) and CZT-81-87(L) and is requested pursuant to V.I. Code, Title 12, Section 910 (e) and V.I. R&REGS, Title 12, Section 910-15 (b). 2). SCOPE. The scope of work described in CZM Major Permit Nos. CZT-4-99W: CZT-53-85(SL) and CZT-81-87(L) have been completed. All conditions of these three (3) Major CZM Permits have been met. 3). TERM. These Assignments become effective on the date they are issued by the Chairman of the St. Thomas Committee of the CZM Commission, pursuant to V.I. Rules and Regs , Title 12, Section 910-15 (c). 4). ASSIGNOR The Assignor is MOP VI LIMITED PARTNERSHIP. All documents required by the V.I. R&REGS, Title 12, Section 910-5 (b) has been received by this Department/Division of Coastal Zone Management. 5). ASSIGNEES The Assignee is IGY-AYH ST. THOMAS HOLDING, LLC. The Assignee has executed all documents required in accordance with V.I.R&REGS, Title 12, Section 910-15(b). 6). CONDITIONS OF THREE (3) PERMITS All conditions of Major Permit Nos. CZT-4-99W; CZT-53-85(SL) and CZT-81-87(L) have been complied with. 7). DOCUMENTS INCORPORATED BY REFERENCE/EXHIBITS Application letter to assign Major Permit Nos. CZT-4-99W; CZT-53- 85(SL) and CZT-81-87(L) EFTA01086689 B. Fee receipt of $1,500.00 for the Assignments of each Major Permit Nos. CZT-4-99W; CZT-53-85(SL) and CZT-81-87(L) as required by Section 910-5(g)(1) of the CZM Rules and Regs.. C. Affidavit of MOF VI Limited Partnership (Assignor) requesting approval and consent to the Assignment of Major Permit Nos. CZT-4-99W; CZT-53- 85(SL) and CZT-81-87(L) to IGY-AYH ST. THOMAS HOLDINGS, LLC (the "Assignee"). D. Affidavit of IGY-AYH ST. THOMAS HOLDINGS, LLC ( the `Assignee") to specifically undertakes (a) to operate and use the property and rights accorded under the CZM Permits in accordance with the terms and conditions of the CZM Permits (Major Permit Nos. CZT-4-99W; CZT-53- 85(SL) and CZT-81-87(L), and (b) to further assign the CZM Permits strictly in accordance with and pursuant to the rules and Regulation of the CZM to an assignee approved by the CZM. E. Copies Major Permit Nos. CZT-4-99W to expire on Septemebr 14, 2010; CZT-53-85(SL) to expire on February 17, 2011 and CZT-81-87(L) land-based facilities completed. APPROVAL. The documents submitted in support of the Assignments of Major Permit Nos. Major Permit Nos. CZT-4-99W; CZT-53-85(SL) and CZT-81-87(L) has been accepted. The Assignments of Major Major Permit Nos. CZT-4-99W; CZT-53- 85(SL) and CZT-81-87(L) are hereby APPROVED pursuant to V.I. R&Regs, Title 12, Section 910-5 (b). ft-4r fr . ilea fir Austin M. Monsanto D e Chairman St. Thomas CZM Committee EFTA01086690 AFFIDAVIT OF IGY-AYH ST. THOMAS HOLDINGS, LLC SUBMITTED IN CONNECTION WITH ASSIGNMENT OF CZM PERMIT NOS. CZT-4-99W, CZT-81-87L AND CZT-53- 85SL STATE OF &feu) \fork I ) COUNTY OF 4t ) Lvi , being first duly sworn upon his oath deposes and says: 1. He is the Duly Authorized Signatory of IGY-AYH ST. THOMAS HOLDINGS, LLC (the "Assignee'), and in such capacity is authorized to make this affidavit. 2. As part of a transaction with MOF VI Limited Partnership, a U.S. Virgin Islands limited partnership, to purchase the property known as American Yacht Harbor, the Assignee will receive an assignment of Coastal Zone Management Permit Nos. CZT- 81-87I, CZT-4-99W and CZT-53-85SL together with all modifications, extensions and renewals, if any, issued in connection therewith (the "CMZ Permits") to be effective upon the later to occur of (a) the approval of St. Thomas Committee of the Coastal Zone Management Commission ("CZM") of said Assignment or (b) the Closing Date. 3. The Assignee specifically undertakes (a) to operate and use the property and rights accorded under the CZM Permits in accordance with the terms and conditions of the CZM Permits, and (b) to further assign the CZM Permits strictly in accordance with and pursuant to the Rules and Regulations of the CZM to an Assignee approved by the CZM. 4. This affidavit is made and given pursuant to 12 V.LR. & R. Section 910- 15(bX2) in support of the application for the CZM's approval of the assignment of the CZM Permits to the Assignee. IGY-AYH ST. THOMAS HOLDINGS, LLC, a U.S.yirgin led liability company By: e: Marc u, Title: Duly Authorized Signatory DATED: % r 4, 2006 EFTA01086691 SubscribeciAnd sworn to me this LI Say of , 2006 Seth A. Cohen blic NOTARY PUBLIC„ State ofNow Yolk No. 02C06146307 [S @dint:din ' County Commission Expires IS, 2010 My Commission Expires: rYlei i Cl ad( o EFTA01086692 AFFIDAVIT OF MOF VI LIMITED PARTNERSHIP REQU ESTING APPROVAL AND CONSENT TO ASSIGNMENT OF Coastal Zone Permit Nos. CZT-4-99(W). CZT-53-85(SL) and CZT-81-87(L) STATE OF ALL4s 4 ) ss: COUNTY OF Ad gar& Ronald W. Rhoades, being first duly sworn upon his oath deposes and says: I. He is the President of American Yacht Harbor Corpo ration, the General Partner of MOF VI LIMITED PARTNERSHIP (the "Assignor" ), and in such capacity is authorized to make this Affidavit. 2.• As part of a transaction with IGY-AYH ST. THOMAS HOLDINGS, LLC (the "Assignee"), the Assignor will assign Coastal Zone Permit Nos. CZT-4- 99(W), CZT-53-85(SL) and CZT-81-87(L) together with all modifications, extensions and renewals, if any, issued in connection therewith (the "Permits") to be effective upon the approval of the St. Thom as Committee of the Coastal Zone Management Commission ("CZM") of said Assignment. 3. The Assignor specifically requests the CZM's approval and consent to the Assignment of the Permits and provides with the Application for Consent to Transfer the Permits, the following: (a) an original Assig nment of Coastal Zone Management Permit Nos. CZT-4-99(W). CZT-53-85 (SL) and CZT-81- 87(L) as Proof of Legal Interest of the Assignee, (b) this Affid avit requesting assignment and transfer, (c) the Assignee's Affidavit stating that it will honor all conditions of Coastal Zone Management Permit Nos. CZT4 -99(W), CZT- 53-85(SL) and CZT-81-87(L) and (d) the Assignor states and confirms that it is in compliance with Act No. 5270 of 1987. 4. This Affidavit is made and given pursuant to 12 V.I.R.&R. Section 910- 15(b)(4) in support of the Application for the CZM's approval of the assignment of the Permits to the Assignee. MOF VI LIMITED PARTNERSHIP By: American Yacht Harbor Corporation, fl DATED: /2.-13 , 2006 By: Ronald W. Rhoades, President 1 EFTA01086693 Subscribed and sworn to b re me this day of 2006. Public My C ssionExpires:St.A I t sla [SEAL] Seth A. NOTARY PUBLIC. Coh ost State of No. 02C06146307New York Qualified in King County Commission Expires Ma y 15, 2010 C 2 EFTA01086694 EXHIBIT A COASTAL ZONE MANAGEMENT PERMIT NO. CZT-4-99(W) EFTA01086695 MAJOR COOTAL ZONE.MA.NAGEMENT PERMILNO. CZT-4-99W 1. AUTHORITY. This permit is issued by the St. Thomas Committee of the Virgin Islands Coastal Zone Management (CZM) Commission and is administered and monit ored by the Department of Planning and Natural Resources (DPNR) on behalf of the Coast al Zone Management Commission pursuant to V.I. Code, tit 12, section 910 and 911, and any other provisions of the Coastal Zone Management Act applicable. As herein, "Perm ittor" is the St. Thomas Committee of the Virgin Islands Coastal Zone Management Comm ission end “Permittee" is M0F VI LIMITED PARTNERSHIP 2. §c,OPE. (a). This permit' approves the renewal of CZM Permit No. CZT-82-87W. The original permit which was issued on October 31. 1988, allowed the perminee to dredge the existing marina by 1.5 feet to allow for adequate depth for the vessels. The permit also allowed the pennittee to construct a rock armour wall and a ten (10) foot wide boardwalk. One hundred and fifty nine (159) parking spaces were also provided. The scope of work described in am Permit No. CZT-82-87W has been completed. This facility is located at and seamed of Parcel Nos. 18A-1, 18B and 18B-1 , Estate Smith Bay, St. Thomas, Virgin Islands. (b). The Permittee is allowed to use, occupy and maintain the facility descried above for the term ("TERM") set forth below. It shall not constitute a prope rty right and may be renewed only in accordance with VI. Code, tit. 12. section 911. 3. WM. This permit is effective upon its signing by the Chairman of the St Thomas Committee o f the V.I. CZM Commission, the Governor of thc Virgin Islands, and ratified by the Legislature of the Virgin Islands or by the Committee on Planning and Environmental Protection, if the Legislannt is not in session. As used herein the , "Effective Date" or "the date hereof' means the date of such ratification. This permi t will expire ten (10) years after the Effective Date. The Permittee shall have the option to renew the permit within ninety (90) days before the permit expires and the renewal terms are subjec t to negotiations. This permit is issued for a definite term, ten (10) years, and shall not constitute a property right. 4. DOCUMENTS INCORPORATED BY REFERENCE Exhibit A A letter of Application to CZM Committee dated March Exhibit B: 12, 1999. Joint Army Corps of Engineers Application dated March 12, 1999. Exhibit C: Copy of Major Permit CZM Permit No. CZT-82-87W. Exhibit D: She Plan dated July 26. 1995 1 ZOO® luamoSsaos anox Televo3 tZCACT/Ate YV4 CIT:AA nn,on,rt EFTA01086696 Exhibit E: Special Warranty Deed between AYH Holdings and MOF VI. Ltd. Exhibit F: Certificate of Existence for MOF VI LIMITED PARTNERSHIP. 5. GENERAL CONDITIONS (a) I ;ability. 7be Permittee agrees to assume full and complete responsibility for all liability to any person or persona, including employees, as a resuh of its contro l of the area described in Paragraph 2 of this permit, and all improvements thereo (which n area and improvements are hereinafter referred to as"the premises"), and to hold the Permittor free and harmless for civil or other liabilities of any kind during the time the Pernittee is in control of the premises pursuant to this permit. Personal Property and Damage. All personal property of any kind or description whatsoever located on the premises shall be there at the Pe:matte's sole risk. Assignment or Transfer. This permit may not be transferred or assign ed except as provided in Section 910-15 of the V.I. R&REGS. tel:M11011S-DiSZklbti A placard evidencing the permit shall be posted in a conspicuous place at the project site during the entire work period. Reliance on information and Data. The Pcnnittce affirms that the information and data which it provided in connection with its permit application are true and accurate, and act= wledges that if subsequent to the effective date of this permit such information and data prove to be false or inaccurate, the permit any be modified, suspended or revoked hi whole or in part, and that the Comm issioner or the Committee may. in addition, institute appropriate legal action. 0) Development to be Commenced. Any and all development approved by this Coastal Zone Permit shall begin within twelve (12) months from the date this permit becomes effective and shall be continuous until completion. Failur e to perform at least fifty (50%) percent of the work within such period and continuously construct thereafter until the completion of construction shall cause the permit to terminate automatically and render it null and void, unless the permi ttee requests an extension in writing and demonstrates to the satisfaction of the Committee that good cause exists for granting such extension. (g) Notificationof Completion Upon completion of any activity authorized or required by this Coastal Zone Permit, the Permittee shall promptly so notify the Director oldie Division of CZM and where the services of a professional engineer were required in undertaking the activity, a certification ofeompliance provided by the project engineer that the plans and specifications of the projec t and all applicable V.I. Code requirements have been met, shall be filed with said Director. 2 COW?) lnawaSemm dao7 T9198O1 67CR6T/ASV NJ 01- 4A VAC anennirT EFTA01086697 (h) Inspection. The Commission, its Committee, the Commission or their authorized agents or represectatives shall have the power to enter at reasonable times during project working hours upon any lands or waters in the coastal zone for which this Coastal Zone Permit has been issuai The Permittee shall permit such entry for the purpose of inspection and ascertainbig compliance with the terms and condit ions of said Coastal Zone Permit. The Pennittee shall provide access to such-records as the Commission, its Committee, or the Commissioner in the perfoimance of it or his duties under the CZM Act way require the Permittee to maintain. Such record s may be examined, aril copies shall be submitted to the Commission, its Committee or the Commissioner upon request. (i) Conditions ses. The Development authorized by this permit shalt be maintained in a safe condition and in accordance with the descri ption, plans, or drawings approved by the Commissioner or by the Committee, and all applicable V.I. L.aws. Public Access to e. The Development shall be operated so as to assure optimum public irrrta to the shoreline. (k) Restoration of Area. The Permitter, upon revocation or expiration of the permit, tha II upon order of the Committee or the Comm issioner, and in their sole discretion, remove all structures authorized by the permit and/or comply with any directive of the Committee or the Commissioner in satisfying the origin al permit conditions in such time and manner as the Committee, or the Commissione r may direct. (1) Notices. All notices sent or required to be sent hereunder must be by certified mail, return receipt requested. If addressnd to the Permittor, same shall be sent to the Commissioner of the Department of Planning and Natura l Resources, Cyril E. King Airpurt, Terminal Buildmg, 2' Floor, St. Thomas, 1.35 Virgin Islands 00802 or to such other place as the Permittor may hereinafter design ate. If addressed to the Permittee, same shall be sent to MOE VI LIMITED PARTNERSHIP, No. 6142 Campbell Road, Suite 2000, Dallas TX 7524875, or to such place as the Permittee may hereinafter designate by certified trail return receipt requested. (m) Non Waiver. One or more waivers by the Permittor of any covenant or condition of this permit shall not be construed as a waiver of a furthe r breach of the covenant or condition. The consent or approval ofthe Permit tor to or of any acts by the Permitre requirbig the Permittofs consent or approval shall not be construed as approval of any subsequent similar act by the Permittec. (O) Revocation. It is specifically understood that all the foregoing covenants and agreements, as well as other tars and specia l conditions hereby agreed to by the Permitter, are to be well and faithfully kept by Pemtittee and that any failure by Permit-tee to keep same will result in revocation of this permit. 3 t03ct lna=aSnunx auoz In1960D PI:Seri/0PC fl I 6T 60 S0F 00/90:71 nearailea. Ignaggatione EFTA01086698 (o) Other Approval. I fihe development covered tinder this permit requires separate and distinct approval from the United States Government or any agency, department, comrnissinn or bureau thereof, then no development or occupancy is allowed under this permit until such permits or approvals have been obtained. (p) Abandonment. If the Permittee abandons, deserts or vacates the premises or discontinues its operation at the premises for a period totaling sue (6) consecutive months, the permit will terminate automatically and be rendered null or void. (q) 5inatunapo the Permit Document. The applicant shall sign and return the permit document to DPNR within slimy (60) days of receipt thereof Failure to return the ..••••••• signed permit within the tine period specified herein will be considered a rejection of the terms and conditions of the permit and will render the offer of the permit null and void, unless the applicant request a written extension and DPNR grants the written extension (r) canine and Revair o(flgrniaaPesenbcd in Pangaea 2. In the event of damage to or destruction of the premises described in paragraph 2 hereof repair work may be done only after the permittee has notified DPNR in writing. 6). 5PKIAL CONDITIONS a). Items 6(e), 6(I), 6(m), 6(q), 6(w). 6(y), 6(dd) of approved CZM permit No. CZT- 82-87W shall remain in Rill force and effect. b). Item 6 (0): Fire fighting equipment appropriate for the docking facilities shall be made available at the dock at an times. 7). FEES Pursuant to V.I.R& REGS Titk12, Section910-5(e) 8, the Conmus'sioaer of the Department of Planning and Natural Resources negotiated the following fees to be paid by the Permian. a). An annual fee of twenty-five thousand dollars (S25.000.00) per year was negotiated. Said annual fee is for the 10 foot wide boardwalk (10,700 sq.II.) occupying the submerged lands. b). The first payment of the annual fees in paragraph 9 (a) above, shall be made payable to DPNR within five (5) days after the legislature ratifies this permit. c). The annual fees payable under this permit shall be adjusted at the commencement of the second (21year of the permit term, and every year thereafter until the sixth (6th) year in accordance with the increase of the Consumer Price Index as established by the U.S. Department of labor, Bureau of Labor Statistics for "All Items, All Urban Consumers (1967-100%), (the "CPI") as follows, provided, however, that in no event shall the annual fee under any yearly adjustment be greater than 150% of the 525,000 annual fee during the initial sixty (60) months of the term of the permit term_ 4 SOOZ iaanaaoaep OUOZ T0191303 tZeetTLOPC IYd dT:60 NOR 00/90/II EFTA01086699 The CPI as of the first (I') month of the second (2" year of the term of the permit and the first (I") month of each subsequent year of the permit shall be the "base price index" and the CPI as of the month immediately preceeding the commencement of the second (2id) year of the permit term and the coremenceroett of each subsequent year ofthe permit term until the sixth (6*) year of the permit term shall be the "current price index". (it). The current price index shall be divided by the base price index and the quotient thereof shall be multiplied by the sum of the annual fee of the prior Year. (lit). The resulting product shall be the Annual Base Fee for the current Aar. (iv). At the end of the fifth (5°) year of the permit term, the annual fees shall be renegotiated. In no event shall any fee determined in the above manner be reduced below an annual fee of $25,000.00 5 9ootijj viamagenug anoy Te39803 tZSATTLATC TV4 AZ:RO cnu nn/gout EFTA01086700 IT IS EXPRESSLY UNDERSTOOD by the parties hereto that the title to all submerged or filled land which is altered or occupied on the basis of this permit is in the Government of the Virgin Islands, and the Permittee shall have no right or interest therein, of any kind whatsoever, other than such rights as are expressly set forth herein, and that this instrument is not a lease. Lti TESTLMONY WHEREOF, the parties herein have hereunto set their hands and seals on the days and years appearing herein below ST. THOMAS COMMITTEE OF THE VIRGLN ISLANDS CZM COMMISSION Pemiittor 9- 1. 7 - oc) Albert Paiewonsky, Chairman, Date St. Thomas CZM Committee MOT: VI LIMITED PARTNERSHIP Permittee V/7721,) vers Date Se r Vice President, MOF VI, LTD. PPROVED 27///0 Governor of the Virgin Islands Da • RATIFIED Legislature of the Virgin Islands President of the Legislature Date Or if the Legislature is not in session Committee On Ong & Environmental Protection Chairman Date 2000 EFTA01086701 I. Mr. John Powers, Senior Vice President ofMOF VI LIMITED PARTNERSHIP do hereby certify that as Senior Vice President of MOF VI LIMITRD PARTNERSHIP, I am duly authorized and empowered to sign this it on behalf of MOF VI LIMITED PARTNERSHIP. John Po enior Vice President Date SWORN AND SUBSCRIBED before me this fi Day of 0)4 2000 J. Daryl Dodson LtIP 99-15 Commission E sprit s: January 31. 2003 7 Illainesomtal otIOZ Pra5v03 letSOTLOtC IYd OZ:00 NON 00/ 90 /11 °AMA EFTA01086702 est GOVERNMENT OF THE VIRGIN ISLANDS OF TI1E UNITED STATES DEPARTMENT OF PLANNING AND NATURAL RESOURCES Division ofCoastal Zone Management Cyril E. King Airport, Terminal Building Second Floor St. Thomas, Virgin Islands 00802 Fax: (3-10) 775.5706 Tel: (34tI ) 774-3320 December 4, 2000 • Mr. John Powers Senior Vice President MOF VI Limited Partnership No. 6142 Campbell Road. Suite 2000 Dallas. TX. 7524875 RE: Request for Modification of Coastal Zone Management (CZM) Major Permit Nos. CZT-4-99W & CZT-53-85SL: MOF VI LIMITED PARTNERSHIP Dear Mr. Powers:: On December 4, 2000. the St. Thomas Committee of the V.I. CZM Commission met to act on your request fur modification of CZM Permit Nos. CZf-4.99W & CZT-53-85SL. The proposed modifications consist of the following: CZT-4-99W: Section 2. "SCOPE" delete in its entirety and insert the following, 'This permit approves the use and occupancy of ftIled lands consisting of .64 I acres or 27,921.96 square feet. located at Parcel No. 18- W. Estate Smith Bay, No. I, 2, & 3, East End Quarter. St. Thomas. U.S. Virgin Islands." Section 3. "TERM". after the last sentence in this section, the following language shall be inserted. "For financing purposes. this permit shall be deemed to be a lease ofParcel No. I8-W. Estate Smith Bay. No. I, 2, & 3, East End Quarter. St. Thomas, U.S. Virgin Islands." Section 7 (a). FEES, delete in its entirety and insert the following language, "An annual fee ofthirty- one thousand, five hundred and twenty two dollars, and twenty two cents ($31. 522.22 ) per year was negotiated. Said annual fee is for the use and occupancy of.641 acres of filled lands located at Parcel No. I 8-W. Estate Smith Bay, No. I, 2. & 3, East End Quarter, St. Thomas. U.S. Virgin Islands." EFTA01086703 CZT-53-85SL: Section 2.SCOPE, delete in its entirety and insert the following language, "This permit approves the use and occupancy of five docks, of which three are "T" shaped docks, twenty-eight (28) finger piers, a ten (10) foot wide boardwalk connecting the docks and a rock armor wall that runs parallel to the boardwalk on its landward side. The total square foot area of the structures occupying the submerged land is approximately 11, 194 square feet. This permit also approves the use and occupancy of approximately 130,000 square feet of submerge area surrounding the structures that are listed above. This development is located seaward of Parcel No. I 8-W, Estate Smith Bay, No. 1, 2, & 3, East End Quarter. St. Thomas, U.S. Virgin Islands." Section 71a) FEES, delete in its entirety and insert the following language,"An annual fee of thirty thousand , &ay nine dollars, and sixty-nine cents (S30,059.69) per year shall be charged for the use and occupancy of the submerged land area occupied under this permit. Said fee is composed of the stun ofsix thousand, one hundred and fifty dol tars (S6,150.00)for th e structures occupying submerged lands, seventeen thousand, nine hundred and seven dollars, and seventy three cents (S17,907.73) for the use of the mooring area around the structures, and a 25% increase pursuant to Section 7(d) of CZT-53.85SL." It was determined that the proposed modification does not change the nature, scope or characteristics of your approved Major CZM Permit Nos. CZT-4-99(W) & CZT-53.85SL. Therefore. your request for the modification, as described above, is hereby Approved. If you have arty questions or concerns, please feel free to contact Ms. Janice D. Hodge. Director of CZM at (340) 774-3320. Sincerely. / r at • Le--<4. hineOa Austin Monsanto Acting Chairman. St. Therms CZM Cora:Wit:cc cc: Dean C. Plaskett. Esq.. Commissioner Janice D. Hodge. Director. CZM Julita de Leon, Legal Counsel file A. James Casner EFTA01086704 EXHIBIT B COASTAL ZONE MANAGEMENT PERMIT NO. CZT-8I -87(L) EFTA01086705 EXHIBIT 3 MAJOR COASTAL ZONE PERMIT O. CST-91-87i A. AUTHORITY. This permit is issued Planning and Natural Resour by the ces of the GovernmenDepartment of 'lirgin Islands (hereinaf t of the ter "The Department") the coastal Zone Manage on behalf of ment Commission pursua Chapter 21, virgin Island nt to Title .2, s Code. As herein, the Government of the Vir "Permittorµ is gin Islands and American Yacht Harbor Associ "Permittee'' is ates SCcPE. This permit allows the twelve (12) of the existi Permittee to demoli ng 14 builds, renova sh (2) remaining structures tion of the two and the construction of new structures. The exi four (4) sting gas station wil One hundred fifty nine (15 l be relocated. 9) parking spaces wil provided. This facility l be will be located at ::(3.18A-1. 199. 18B-1 Est Parcels ate Smith Say, St. Tho :slands. mas. Virgin 7 . TERM. This permit :s effective the Chairman of the Com upon its signing by mittee of the Coastal commission, pursuant to v. I. Zone Management Authorization for con Cod e, Tit le 12. Chapter 21. struction under this expire if the Permittee permit snail fails to commence work (12) months from the date within twelve this permit becomes effective. 4. DOCUMENTS INCORPORATED BY REFERENCE. Exhibit A Letter of application to the Commissioner, dated march 29, 1987. exhibit 2 - CZH permit application, dated March 1987. 29, Exhibit C - Major Enviro nmental Assessment Report. 3 Exhibit D - Public Works Department Map No. A9- 44-fg5. 7e Exhibit Project drawings. :57 GENERAL CONDIT/DNS. N.) V, Cal Liability. The Pernittee agrees to assume full and complete responsibili ty for all liability to any person or persons, including employees, as result of its control of a the area described in oaragraph Z of this per mit, and all improvements thereon (which area and improvements are hereinafter referred to as "the premises"), and to hold the Permittor free and harmless for civil or other liability to any PPrmiFt.no kind during the time thp EFTA01086706 COASTAL ZONE PERMIT NO. cZT -01-97L Page -2- S. CONDITIONS f_) ( 3) Personal Property and Damage. All person property of any kind or al description wha located on the premises tso ever shall be there at Permittee's sole risk. the (c) Assigned or Transfer. This permit may be transterrea or assigned as provided in sec 910-15 of the Regulatio tion ns of the Coastal Management Act. Zone (d) Permit to be Displayed . A placard evidencin permit snail be posted g the in a conspicuous place the project site during at the entire period of work. (e) Reliance on informati on and Data. The Per affirms that the inform mittee ation and data which provided in connectio it n with its permit is true and accurate, and application acknowledges that if subsequent to the eff ective date of this per such information and dat mit a proves to be false or inaccurate. the permit - may be modified, sus or revoked in whole or pended in part, and that the Commissioner or the Com mittee may, in additi Institute appropriate on. legal action. (f) Development to be Com menced. Any and all development approved by this Coastal Zone Per shall be commenced within mit twelve (12) months fro the date this permit become m s effective. Failure to perform substantial work within such period thereafter until the and completion of construction shall cause the permit to lapse and render it and void unless an ext null ension is granted by the Committee. (q) Notification of completio n. upon , :ompletion of any activity authorized os required by this Coastal Zone Permit, the Permittee shall promptly so notify the Distri ct Director of the Division Permits Office of Coasta of l Zone Management ("The Director") and, where the services of a professional engineer where required in undertaking the activi ty, a certification of compliance provided by the project and all applicable Virgin Island s Code required have been met, shall be filed wit h the Director. EFTA01086707 COASTAL ZONE PERMIT nO. CZT-81-87L ?age -2.- 5. GENERAL CONDITIONS (h1 Inspection. The Comm Commissioner or th ission, its Committee, the eir representatives shal authorized agents or l have the power. reasonable times to enter at during project any lands or wate working hours rs upon this Coastal zone Pe in the coastal zone for which rmit has been Permittee shall pe issued. The rmit such entry of inspection and for the purpos e terms and conditio ascertaining compliance with th ns of said Coas e The Permittee shall tal Zone Permit pr ovide access to . as the commission, its Committee. or such records Commissioner in th the e duties under the Ac performance of its or his t may require th maintain. Such reco e rds may be exam Permittee to shall be submitte ined and copies d to the Commissi Committee or the on, its Commissioner upon request. (i) Conditions of Premis es. The development. authorized7by this permit shall be a safe. attractive an maintained in d in accordance with th satisfactory condition and e description, drawings approved plans or by the Committee. )j) Public Access to Shoreline. To be Section 910-1019) of consistent with Title 12, V. I. Zi Rules and Regu code, Chapter lations, the deve not be operated so as lo pm ent shall to unreasonably public access to an re strict y recreational shoreline. areas of the (X) Restoration of Area . The Permittee, revocation or expi ration of the perm upon order of the Commit it, shall upon tee or the commis their sole discre sioner, and in tion, remove all st authorized by the ructures permit and restore its original condit the area to ion. and/or modify structures, and/or such comply with any dire the Committee or th ctive of e Commissioner in the original permit satisfying condition in such ti manner as the comm me and ittee. or the Commis direct. sioner may (1) Notices. All notice s sent or required hereunder must be to be sent certified mail. retu requested. If ad rn receipt dressed to the Permit shall be sent to the ter, sa Commissioner of Depart me Planning and Natural Rnotri ttre-ae. ment of et._ EFTA01086708 COASTAL ZONE PERMIT NO. CZT-31-87L ?sae -4- 5. GENERAL CONDITIONS (Cont'dl . or to such othe r plac hereinafter designat e as the Permittor, may e by certified addressed to the mail. If Permittee, same American Yacht Ha shall be sent to rbor Associates. St. Thomas. . Box 11550, 0O801 or to such the Permittee may other place as he certified mail, retu reinafter designate by rn receipt re ceipt requested. cm) Nonwaiver. On e or more waivers of any covenant by the Permit or condition of tor not be construed as this permit sh a waiver of a all of the covenant further breach or condition, and approval of the Pe the :onsent or rmittor to cr of Permittee reauir any acts by the ing the Permittor's approval shall not consent or be construed as subsequent similar approval of any act by the Perm ittee. in) Revocation. It is specifically all the foregoing co unders venants and agre tood that well as other terms ements, as and special cond agreed to by Permit itions hereby - tee and that any Permittee to keep sa failure by me will result in of this permit. revocation (o) Other Approval. If the development this permit requires cove separate and dist red under approval from tLe inct United States Govern agency, department, ment or any commission or bureau then no development thereof, is allowed under th until such permits is permit or approvals have obtained. been (p) Abandonment. If th e Permittee abandons or vacates the prem , deserts ises for a period (6) consecutive months totalling six notification to the without written Director and receip acknowledged, then t the permit will term automatically and be in ate rendered null and void . 6. SPECIAL C^11DITZOIIS. (a) All necessary fede ral and territoria shall be obtained l permits prior to constructi otherwise noted. on, unless (b) Three (3) complete se ts of drawings shal submitted to l be EFTA01086709 COASTAL ZONE PERMIT Page -::- no. czt-el-an SPECIAL CONDITIONS approval prior to commencement of constructi on. (c) Filling will be allo wed in accordan revised sate plan ce with the dated August 21. 1987. (d) Building A will be constructed as pe revised site plan r the dated August 21, new businesses ho 1987, and all used therein shal oriented. l be marine — iei The proposed obse rvation tower is disallowed until co be plans are presente which demonstrate d to DP-ocZM compliance with the restrictions in the height w-1 :one. (f) Other qualificat ions being equal. residents as of th Virgin Islands e date of permit shall be given pr approval eference when po available during th sitions become e building, prep operation of the aration and - project. Additi affirmative action on ally, an officer shall be the responsibility appointed for preparation an monitoring of an an d nual affirmative ac tion plan. (g) A specific 1,Andsca pe plan for :he en shall be submitted tire project to DP-OCCM for appr to construction. oval prior (h) Before construction or development comm the Permittee shal ences, l deposit in escrow ❑epartment of Pl with the anning and Natural Division of Perm Resources, its, the amount of annum to be held fo S6 .500 per r the duration of th from signing of this e project be disbursed by the permit. These funds wi Commissioner for the ll of monitoring the purpose construction and deve of this approved lo project. Any amount wh pment remains in the escr ich ow account at the en project shall be d of the returned to the Permitte later than ten (1 e no 01 days after in voicing. (ii A plan nail be su bmit of construction show ted prior to commencement ing the number of acce egress points from ss and Route 32 with minimal movements conflict turning s. This plan must be ap by the Departme proved nt of PUblic Works. EFTA01086710 COASTAL :IONE PERMIT Q. -..-81-e71, Page -6- 6. sPEC:AL CONDITIONS ( ). (j) DP-oCZM must be notifi ed and properly acknowledged response documented by at lea three (3) working days st prior to commen construction activitie cement of s and upon com the development. pletion of (k) An alternative erosion and sedimentation plan shall be submitted control to be approved by OP-OCZM prior to the initiation of con All erosion control dev struction. ices installed sha croperly maintained for ll be development is completed eff ect ive nes s unt il the . (1) Any mangrove to be cut will be authorized supervised by the OP-oCI and M staff. (m) Permittee shall comply with Coast Guard. regulations regarding the use of holding tan ks. (n) Permittee must submit a letter from the Department of Public Works to DP-OCZM staff authorizing the Permit tee to hook-up their sewage system to the pub lic sewage system. ;o I The Permittee shall obtain the required permits from the Division cf Enviro nmental Protection for the installation and ope ration of the electrical generator, and shall submit a rev site plan showing the loc ised ation of the generators prior to issuance of occupa ncy permit. (p) The Permittee shall provid e 159 parking spaces before occupancy cf the new facility occurs. (q) The owners and/or managers including those respon of this proect, sible for its future operations shall cooper ate with the V.:. Department of Education , University of the Virgin Islands and otter agenci es and Instrumentalities , n their training programs for the hospitality industry, and other operat ional aspects of the industry. ( r) The Permittee shall obtain fro of Public Works a driveway perm the Department mit. EFTA01086711 COASTAL :ONE PERH IT NO. CZT-81 Page -7- -87L 5 SPECIAL CONDITIO NS ma_ architect regist ered in the U. Islands, to prov S. ide the regulato Virgin evaluation data ry flood pursuant to Titl Chapter S. Sectio e 29, V.I. n 294 (1,1 (4)-3 Code, structures design and the ed accordingly. (t) The Permittee sh all obtain the from the Division required permits of Environmental for the installa tion and operatio Protection osmosis desalinati n of a reverse on plant prior occupancy permit:. to issuance of (u) A specific landsc ape plan for the shall be submitte entire project d to the DCZH fo prior to commence r approval ment of construc tion. (v) A r.•elocation plan for the existing the project site businesses at shall be submitte of Permits prior d to Division to commencement of construction. (wl During the operat ion of this facili shall be provided fo ty, space r any emergency requiring temporar vessel y berthing. (x) A permit to cons truct a sidewalk western boundary—of from the the Ivanna Eudora Ke School to the easter an High n boundary of the site shall be obta project ined prior to commencement of cons truction of this pr oject. (y) Tor the dura tion of this permit subsequent govern and any ment leases which ma this :ermit, only ma y supercede rine -related busine shall be allowed to operate on the si sses development. Prior te of this to the issuance of certificate of occu a pancy, Permittee shal a list of prospect l submit ive tenants to the St CZH Committee for . Thomas review and approval . (Z) To ensure the op portunity for the es businesses at the tablishe development site to cont d their business oper inue ations, any persons entities operatin or g under a lease or oc agreement will be cupancy given the right of fi refusal to availabl rst e space in Pilo %.“214A__ EFTA01086712 COASTAL ZONE PERMIT NO. CZT-81-87L Page -a- SPECIAL CONDITIONS (aa) The location of fil led building A will confor submerged lands and m to the siting and location as indicated on the revised dated August Zl. 198 site plan 7, which is an this permit. appendix to (bb) All dredge spoils tra nsported from the development site will be transported in watertight tank trucks sealed. . An economic impact ass essment shall be to the OP-oczm staff for submitted approval prior to commencement of construct ion. (dd) The dinghy dock shall maintain its present dimensions, and no restau rant be allowed thereon. (ee) Fire fighting equipment app ropriate for the docking facilities shall be made available at the dock at all times. Per mittee shall consult with the Virgin Islands Fir e Department to ascertain the necessary req uirements. The Office of Coastal Lone Man agement shall be furnished an approved copy of the requirements prior to commencement of con struction. (ff.) The developer shall submit to OP-OCZR a detailed plan of the areas subjected to a 100 year frequency storm--both tid al and inland (rain induced) prior to construct ion. Account shall be taken of the wave effect for flooding. The plan shall show both floodi ng elevations and probable energy impacts due to wave action. I cg) In addition, special condit ions 2 through J, of Permit No. T-137-81W, gra nted to Lagoon Marina Incorporated on September 9, 19871, shall remained in effect except whe re in conflict with this permit. EFTA01086713 CCAATAL ZONE PERM IT NO. cZT-S1 Page -9- -87L IN TESTIMONY WHEREO set their hand F, the s and seals on th parties herein have hereun herein below. e days and ye to ars appe aring GOVERNMENT OF THE VIRGIN ISLANDS, Permit tor By: ‘ 2 /4 4fl iC O4r...... c C airman, St. Th omas Committee — coastal Zone Mana Date gement Commissi on AMERICAN YACHT _ARBOR ASSOCZAT EC Permictee .„ A.• Carl Prayer 429 Date EFTA01086714 COASTAL ZONE PERMIT HO. CZT-81-87L Page —10— I, Carl H. Freyer, dO hereby certify that I am the General Par tner of American tiCht .karrai Aiscciates, a United States Virg in Island Limited Par tner snip duly licensed and/or registered to do business in the U.S. Virg in Islands, that Carl ..Bever who signed this permit is General Par ' of said Limited 7ar tr.er :ant;, tr.at he is au thorized ty the agreem ent of Limited Par the r ship to execute this permit in the name of and in behalf of za id Limited partne rship. I further certify that the making of .his permit is within the scope of the limited par tnership's r.c.wer s. — Carl H. Freyer General Par tner rrioat: 70 AUD SUBSCRIBED pefcre me t day of -1\kaACI., 2 .• - -II • • 1 1 '~%I— .J Jotary Public Mr Camniasion Emus Mar. 31. 233 EFTA01086715 EXHIBIT C COASTAL ZONE MANAGEMENT PERMIT NO. CZT-53-85(SL) EFTA01086716 19,- • COASTAL El4NE PE-4 41IT 40. ar-m-asa. (ganetai of up o. n ; 216 and C7-1_37-81.10 1. ;.111TrICR/TY. This pee it issued by the 3epartment cif C.miserrat- fon and Calls:tn.-al Affairs of die boven' of the Virgin Islands (hereina Oenar=errt ") on behalf of the Coastal Zane Manageme fter 'The nt 'C=!aission ritual= to Title 12, Char-Ater 21, Virgin Islands Cade. As herein, "Peratittora Is the Geyer-rant of the Virgin Islands and ' 2ersitteen is This pert it supersedes Submerged Lands the Lagoon Marina. Ur— Permits, SLY No. 21 and 216, and C27-L37-4111. 2. SCOPE. This Permit is for the renew al af and 215 to conform with th e rules and regu Sutsmirged Land Permits K4. 31 CT-12741W hereto. The Persittee is allowlations af Act 4248, and to combine ed to use, occany and sairstaln the 1..xisting :nartne facilities located on and seaward of Plats :41. 18-3. 18- 8-1 tarn Smith day, in. 1, 2 & 3 East End Sir in :stands. Said facilities consist of Quarter, St.. Thrsot , ive f„:1) of ',midi have finger piers attac eigh t (8) piers of various lengths hed; a boardwalk inter=rnecting dncx_ A ta 3, and C 0; ail with =ring pilds; ant. e are at-taw:ad an umumberect parmal af filled submerged The above, being described in Exhibit A lands 0.27 ! U.S. Ann & 3 are attached hereto and malt a par herwt. 3. TERM. This :emit is affective union theTe its approval by the Carserissioner el ent af Conservation and Cultural ratification by the Legislature af the VirginAffairs, the Governor, and Conservation, Recreation and Cultural islams or by the Cainritt en Affairs if the Legislature is not in sass pursuant to title i2, Chapter 21, Virgin authorized by *...te c=oining af SLY #31, Islands Cade. Na cnstruction is 2.16 ana aT-137-83.14 herein. This perait shall expire FifLaar(1 suoject to renesal pursuant to Title 5) years attar its effective date, of the Virgin Islands Cade. 12, Chapter 21, Section 911 Pare (4, :CC:VE:TS 1747DRFORAITID BY RE:7:7:ERCZ. Ca :..-_er_ch cescribinc. piers a_lci s.1:=ererat2 4 4- 3 Subsergati !ands Permit ::o. 31. Submercect Lancis Permit :la. 2.":s 3. CZT- 1.1j-alW E.thibi: C Title cur-vev Drawing 135.3-8, zated c' ertified 120 EFTA01086717 ( CI;STAL ENE PEMIT NO. CZT-33-435SL GENEJAL CONDITIONS (a) Liability. The Permit-tee agrees to asses full and sibility for all liability to any person or cotrallete rise persons, including ea- ployeec, as a result of its control of the area graph 2 of this.pmnait, and all improvesrmts described in Para- thereon (klhich area and implovetents are hereinafter referred to as 'the and tt - hold the Permittor free and harmless frau premise-1m). liability of any kind during the time the Perm c104 or otter ittee is in cartral --r-of the premises pursuant to this permit. (b) Personal Property and Dames. All personal pmonerty of any kind w description wnatsoever located on the premises Permittee's sole risk. shall ' be there at tt ;ssiored. or Transfer. This permit may not be trans -ferrest or a_ss 4 an t'tceot as :roviceo In Sac..-ion :210--;.:LI of the .7.oaszai Zone Yanaaamen. Act. Regulations of the ?ernit to be Displayed. 1 piacpro avicencin g tie perint snai l oe postao in a conspicuous place at the proj ect site during the entire period of work. Reliance on Information and rata. The Perm ittee affirms that the intonation ana aata wnicn i t provided in connection with its permit application is true and accurate, and ackn owledges that if subsequen to the effective date of this permit such infor to be false or inaccurate, the permit may be mation and data prove revoked in whole or in cart, and that modified, suspended or the Commissioner or the C=s- mittee nay, in addition, institute appropriate legal action. (f) Development to be Corrmencad. Any and all development approved by th Coastal Zane Permit snail be amitenced within delve (12) months fror the data this permit becrums effective.. Failure to perform substant- work within such period and thereafte r until the completion of cansti tion, shall cause the permit to laps e and render it null and void ur extension is aranted by the Commitz.ee. (g) i(otification of ::.=iatian. !Jaen c=le tion or any activity autho- ori tea or require' ay this Coastal Lone pry tly so notify the Director of the Pe.rimiz. :he Reripittee shall acenent ("Tile Director') and, where Civision of Coastal Lone Man- the services of a professional encineer were required in undertakina the cf comoi lance provided by the project aczivitv, a c=rtification specifications of the project and all encin eer that the pla.ns and reauiria=nts nave been oat, snail anod ic :le 'virgin ;11.theis code tii-t ta r•frectzr. 121 ......w.mmniromedracnon'aa".."0.=•n EFTA01086718 COASTAL :ONE REM/TT no. czT-53-855L 2 SCERAL CONDITIONS. ..0:Zir"Ct (h} Inspection. The Commission, its Committee, the Comn isSiOner or tneir autnorized agents dr rebresentatives shall have the to enter at reasonable times upon any landstor waters in power coastal zone for which this Coastal Zone Permit has the been issued- The Permittee shall permit such entry for the purpose of inspec- ting and ascertaining compliance with the terms- and of said Coastal Zone Permit. The Permittee shall conditions provide access to such records as the Commission, its Committee- or the Yidner in the performance of its or his duties under Commis- the Act may require the Permittee to maintain. Such records ray and copies shall be submitted to the Commission, its be examined the Commissioner upon request. Committee or (1) Conditions of premises. The development authorized snail oe maintainee in a safe, attractive and sati by' this permit and in accordance with the description, plans or sfactory condition v tbe Com—mittee. drawings approved Public Access to Shoreline. The development shal l as to assure optimim ?unlit access to the snarelin be operated so e. :A) Rect.:ration of Area. The ;ermittee. upon revocati on or expiration or tne permit, snai l upon order of the Committee or the Commissioner, and in their sole discretion, remove all structures the permit and restore the area to its original authorized by modify structures, and/or comply with any dire cond itio n, and/or ctive of the Com- mittee or the Commissioner in satisfying the orig inal permit condition in such time and manner as the Committe e, or the Commis- sioner Nay direct. eotices. All notices sent or required to be sent oe ay certified mail, return receipt requeste hereunder must d. If aodressed to the Permittor same shall be_senit to the Comm issi and Cultural Affairs, Government of the Virgin oner of Conservation Box 4399, St. Thomas, U.S. Virgin Islands 00801 Islands, Post Office place as the Permittor may hereinafter desi or to such other gnate by certified mail. If addressed to the Permittee, same shall be sent to Lagoon Marina. Inc. Red Hook, St. Thomas. 7.I. 00802. or the Permittee may hereinafter designate by to such other place as certified mail , return receipt requested. !:onwaiver. 3ne or :ore waivers by the Perm -• -or canaition of :nis termit snail not to izeor of any c:nvenant c:nstruea as a waiver of a further treach of the ccnvenant or conditio approval of the Permiztcr to or of any acts n, and the consent or ing the Permit:ors: content or approval by the Permit:as requir- shall epprovai of any subsequent similar act by not to c:ns:red as the Permit:et.. (n) ;avocation. !t is szecifically unde rstcoa :tat 1;1 :he foregoing convenanta and agreement:. as well as atner tarns arm soecial conditions hereoy aereea to by ?ermittee. 122 are fully kect by Permit:ea ana :hat any Failure oe well ana faith- ---... . . by tarmir's' same will rocu;- EFTA01086719 COASTAL ZONE PERMIT UO. CZT-53-05SL GENERAL CONOIT/ONS. a (o) Other Aooroval. If the development cov ered under this permit requires separate and distinct approval Government or any agency, department, from the United States thereof, then no development is allowe com mission or bureau d under this permit until such permits or approvals have been obtained; (p) Abandonment. If the Permittae abandons, premises or discontinues its operation deserts or vacates the period totalling six (6) consecutive s at the premises for , terminate automatically and be rendermonths, then the perMit 1111 ed null and void. (q) Oamacie and Repair of Premises Described in Paraoraoh 2. i) in the event 3f damage to or described in Paragraon 2 her Pestruction :f the :remises eof, only after a request to do so has repair work may be done writing to the Department, and been submitted in permission in writing has . been granted. Repair must dup lic and must be accordance with app ate the original wort, regulations. licaole law, rules and (ii) General maintenance or repair res and tear of operations may be car ulting from normal wear right under this permit, but mus ried out as a matter of structural portion of the ;re t be limited to the non- mises. 6. SFEC:AL COUDITIONS. (a) Uo new buildings or structures are permitted under this per mit. (b) .n oil spill contingency plan is within three (3) of approval of to be filed with the Director, this permit. The boats which have toilet fac be eouipped with holding tanks ilities or generate waste shall from which waste can to ashore. ,owed (d) The 7ermittee shall survey and record land as sucn with the Oepartment any and all filled submerged Department with a copy of said of Puo lic Works, and furnish the drawings. lei he Formiztae shall apply to the License in order to ooerate :he Department for = 7Arminai Facility therein, in accordance with Tit fuel terminal Facilities contained le 12, Chapter :7, iec :he Y.I. Code. tion 706 of 123 EFTA01086720 COASTAL ZONE PERMIT :10. CZT-53-65SL (f) The use of boat propellers for channel clearanc prohibited. e'is strictly (g) The cutting, distructIon or distrubance of Red Mangroves (Rhizophora mangel) is prohibited_ (h) No boat scraoinas, waste, debris, petroleum pollution matter shall be deposited in the products_mr other wate -,rshorelands, which could cause pollution of the rs, or 047tbe such waste shall be disposed of in an environm waters:Oft414fict manner. entally acceptable (i) Oingny dock areas will be provided alon e the Ouikhead or in the genera! vicinity of puolic use. JJ public access to the fill area will be maintained. ...rim.. • 124 EFTA01086721 _:ASTAL 7.211E PERMIT NO. CZT-53-95SL I 7. (a) A'fee of 529,265.53 per year payable in advance shal for the use and occupancy of the submerged land areal be charged under -this permit. Said fee is composed 4f .tht sum occupied for the structure occupying the submerged lands. of 56.150.00 S17, the mooring area around this structure and 55,217.7 907.73 for 8 for the .qccupancy of 0.27± U.S.'acres of filled submerged is assessed pursuant to Section 910-5 of the rule land s. This fee regulation of the CCM Act. s and YWY (b) In accordance with the provisions of SLP no. 2I6, Condition 5 (f), and CT-437-91W, Fees 7 (a), Special a fee cf E2.;07.40 ter year. .__.-active to Aoril 14, I97a :ursuant Fees 4 (a) snail be assessed. For calculation SL? ::a. 216, retroactive fee shall terminate upon the appr turc oses , this oval zate cf this permit. The first payment of the fees require° in para above shall become due and payable within thir grapn 7 (a) & (b) the date when this permit is approved. ty (30) aays from On each fifth anniversary of the effective the rental fees established herein shall bedate of :his :ermit Fermittor and the Permit:se. Any increase renegotiate° by the rental fees shall he reasonaole, but, in any in the amount of the event shall not exceed twenty-five (2K0 percent of the fee for the preceding five (5) year period. (e) All fees payable under this permit shall be paid to the ?ermittor regardless as to whether Permittee actually submerged land described herein, provided, occuoies or uses the permit is modified to decrease/increase however :hat if the the suomerged lands so occupied, Chen the fees shall also be sistent therewith. decreased/increesea con- 125 EFTA01086722 ASS L :ONE PEPAIT no. :Z7-53-63.31. • 3. :7 :c :.!:ZOESSTOOO by, the•parties hereto that. the title :a all suomerged ar filled land which is altered or occupied on the basis of this permit is in the Government of the Virgin Islands. .and the Peratitte e shall have no right or interest therein. of any kind-whatsoever, other than such rights as are expressly set forth herein. and that this instrument is not a lease. 731-TmaHy wHEREOR, the parties herein nave hereunto set the ir hands and seals on the days and years appearing herein below. •-r GOVEMIENT OF THE VIRGIN ISLANDS remitter 77 i 7 1 ,/y c ....--------, ...c.-.•:- .r........t'tig." 7 - c.e.,,c..i er."- r=..•.,...;, ,._...2.,, ;, --.-------i4r, ..--e.------ : =1 7 aricner. t t.onservatrs t.U1 Ltrai nrraIrs / Date _;00007 ”AR1NA, :NC. re :zee e /"/ • .- • • ••• L•••f. //2.1 - 4; Date 3,PLI=OVEn I or .inn n ts Janos 01.1. FL One RATT7tED Lanislature of the Tirtn :sianaS -,nricent r. :ne ._egls:ac'zre * or the Leci:!atur2 is no: in sesz:.cn on C.:riser:it:on • -Ca 126 EFTA01086723 C C "";;•, .. • -1 C.IlASTAL ZONE 2EP-MIT crr-53-asst. Claude:tot Sdith do hereby cart ABEL. that am the/Secretary of the Lagoon Martha. toe. a torpor: duly licensed and/or registered to do business in the U.S. Virgin Islands, th; 5, Clark who signed ;.his :emit' is tes ident of said-corporation the he was authorized by its Board of Directors to execute this permit in the name of and in behalf of said corporation. t further certify that the making of th ertlit is within the scone of the ccroaratlon's towers. -4774. -07•••"-"% . --- " Asst . tecretary CP. zuescaiszo before ze , / 1-71 LI; ray " 4C7 • ./C#'?::: notary 7 -Z131" c 127 EFTA01086724 MODIFICATION OF COASTAL ZONE PERMIT NO. CZT- 53-853L WHEREAS, a Coastal Zone Permit CZT-53-855L (Ren ewaI- of SLP No. 31; 216 and CZT-137-81W) was issued by tha Government of the Virgin Islands, and rati fied by the Legislature-of the Virgin Islands on February 18, 1986; and WHEREAS, a MEMORANDUM OP UNDERSTANDING dated 1993 was executed between the Government of-t April 21, he Virgin Islands, Department of Public Works and the Department of Planning and Natural Resources (on behalf of the Government of the Virgin Islands) and AMERICAN YACHT HARBOR ASSOCIATES, wherein the Government of the Virgin Islands agreed to accept 1,537 square feet of property owned by American Yacht 41a.rbor Associates by appropriate deed to the Government of the Virgin Islands in exchange for a ten (10) year extension of the subject CZM Permit, CZT-53-85SL, all as more'fully .described therein; and 2, WHEREAS, the Governor of the Virgin Isla nds on March 24, 1993 approved the said MEMORANDUMS OF UNDERSTA Legislature of the Virgin Islands, thro NDING and the 9ge ugh its Committee an Planning and Environmental Protection, ratified the said MEMORANDUM OF UNDERSTANDING on April 21, 1993; and WHEREAS, a WARRANTY DEED dated Septembe r 16, 1991 was duly executed and has been held in escr ow pending finalization of this matter and has now been duly received for recording by the Government of the Virgin Islands NOW, THEREFORE, in consideration of the and agreements of the parties to the mutual covenants MEMORANDUM OF UNDERSTANDING as set forth therein, THE ST. THOMAS COASTAL ZONE MANAGEMENT COMMITTEE, having met and having duly considered this matter fully, and havi ng further duly voted on this matter on October 7, 1993, and having duly recorded such vote, IT IS HEREBY THE ORDER OF THE ST. THOM AS COASTAL ZONE MANAGEMENT COMMITTEE, that CZT-53-8 5$1, be, and the same is hereby, extended from February 17, 2001 to February 17, 2011. Except as hereby modified, all othe r terms end provisions of said CZT-53-8551. remain in full force and effect. DATED: October,. / .4r, 1993 ST. THOMAS COASTAL ZONE MANAGEMENT COMMITTEE (of the CZM Comniselo 128 EFTA01086725 GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES DEPARTMENT OF PLANNING AND NATURAL RESOURCES Division of Coastal Zone Management Cyril E. King Airport, Terminal Building Second Floor St. Thom as, Virgin Islands 00802 ax: (340) 775-5706 Tel: (340) 774-332o December 4, 2000 • Mr. John Powers Senior Vice President MOF VI Limited Partnership No. 6142 Campbell Road. Suite 2000 Dallas. TX. 7524875 RE: Request for Modification ofCoastal Zone Management (CZM) Major Permit Nos. CZT-4-99W & CZT-53-85SL: MOE VI LIMITED PARTNERSHIP Dear Mr. Powers:: On December 4, 2000. the St. Thomas Committee of the V.I. CZM Commission met to act on your request for modification of CZM Permit Nos. Ctf-4-99W & CZT-53.85SL. The proposed modifications consist of the following: CZT-4-99W: Section 2. "SCOPE" delete in its entirety and insert the following. - This permit approves the use and occupancy of filled lands consisting of.64I acres or 27,921.96 square feet. located at Parcel No. 18- W. Estate Smith Bay, No. I, 2, & 3, East End Quarter. Si Thomas, U.S. Virgin Islands." Section 3. "TERM", after the last sentence in this section, the following language shall be inserted, "For financing purposes, this permit shall be deemed to be a lease ofParcel No. I8-W, Estate Smith Bay. No. 1.2, & 3. East End Quarter. St. Thomas, U.S. Virgin Islands." Section 7 (a). FEES, delete in its entirety and insert the following language, -An annual fcc ofthiny- one thousand, five hundred and twenty two dollars, and twenty two cents (531. 522.22 ) per year was negotiated. Said annual fee is for the use and occupancy of.641 acres of filled lands located at Parcel No. 18-W, Estate Smith Bay, No. I, 2. & 3, East End Quarter, St. Thomas. U.S. Virgin Islands." EFTA01086726 CZT-53-85SL: Section LSCOPE, delete in its entirety and insert the following language, "This permit approves the use and occupancy offive docks, ofwhich three are "T" shaped docks, twenty-eight (28) finger piers, a ten (10) foot wide boardwalk connecting the docks and a rock armor wall that runs parallel to the boardwalk on its landward side. The total square foot area ofthe structures occupying the submerged land is approximately 1I, 194 square feet. This permit also approves the use and occupancy of approximately 130,000 square feet of submerge area surrounding the structures that are listed above. This development is located seaward ofParcel No. I 8-W, Estate Smith Bay, No. I, 2, & 3, East End Quarter, St. Thomas, U.S. Virgin Islands." Section 7(a) FEES, delete in its entirety and insert the following language, "An annual fee of thirty thousand , filly nine dollars, and sixty-nine cents ($30,059.69) per year shall be charged far the use and occupancy ofthe submerged land area occupied under this permit. Said fee is composed of the sum ofsix thousand, one hundred and fifty dollars($6,I 50.00)for the structures occupying submerged lands, seventeen thousand, nine hundred and seven dollars, and seventy three cents (S I 7,907.73) for the use of the mooring area around the structures. and a 25% increase pursuant to Section 7(d) of CZT-53.85SL." It was determined that the proposed modificat ion does not change the nature, scope or characteristics ofyour approved Major CZM Permit Nos. CZT-4-99(W) & CZT-53-85SL. Therefore, your request for the modification, as described above, is hereby Approved. If you have any questions or concerns, please feel free to contact Ms. Janice D. Hodge. Director of CZM at (340) 774-3320. Sincerely. Austin Monsanto Acting Chairman. St. Thomas CZM Comxniiuec cc: Dean C. Plaskett. Esq.. Commissioner Janice D. Hodge. Director, CZM Julita de Leon. Legal Counsel file A. James Casner EFTA01086727 EXHIBIT D PROPERTY DESCRIPTION Parcel No. 18A-1 Remainder Estate Smith Bay Nos. 1, 2 and 3 East End Quarter St. Thomas, U.S. Virgin Islands as shown on O.L.G. Drawing No. D9-5196-T91 dated February 19, 1991, consisting of 0.22 acre, more or less, Parcel No. 18B-1 Remainder Estate Smith Bay Nos. 1, 2 and 3 East End Quarter St. Thomas, U.S. Virgin Islands as shown on O.L.G. Drawing No. D9-5196-T91 dated February 19, 1991, consisting of 0.48 acre, more or less, Parcel No. 18B Remainder Estate Smith Bay Nos. 1, 2 and 3 East End Quarter St. Thomas, U.S. Virgin Islands as shown on O.L.G. Drawing No. D9-5196-T91 dated February 19, 1991, consisting of 1.42 acres, more or less EFTA01086728