RIVER VIEW GOLF COMPANY - CONCESSION 1974

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.. ! ~ RI~,IER VIEW to verify the cost and expenses incurred in connec- tion with said improvement. It is understood and agreed by the parties hereto that all right, title, interest in and to and the ownership of said real property improvements acid fixtures shall, upon their completion and subject only to the terms of this Agreement, become vested in RIVER VIEW, and RIVEP. VIEW shall thereafter be deemed the sole o~•~ner of said improvements, CONCESSIONAIRE further agrees that, at its sole expense, it shall install in said "°half-way house", trade fixtures and equipment satisfactory to RIVER VIEV~l. Sllbj2ct to the provisions hereof, all right, title and interest in and to said trade fixtures and equipment shall remain vested in CONCESSIONAIRE subject to the terms of this Agreement and the security interest granted RIVER VIEW hereunder and as more fully described hereinafter. RIVER VIEW agrees that expenditures made by CONCESSION- AIRE under the provisions of Paragraph 5 hereinabove as and for real property improvements, including real property fixtures, plus simple interest at the rate of l0v per rrar~um. on the declining unreimbursed balance of the cost of said improvements, shall be reimbursed to CONCESSIONAIRE in the amount of the monthly rental payments due and owing by CONCESSIONAIRE to RIVER VIEti^T alone, as provided in Paragraph 4{c) hereinabove, until such time as such e:~penditures have been fully reimbursed to CONCESSIOI`TAIRE. RIVER VIEW agrees, at its expense, to refurbish the rest- rooms adjoining the restaurant facility as more fully described in Exhibit "A" attached hereto and made a part hereof. 6, REPAIRS ACID ~~L~INTE1IATTCE RIVER VIEb9 agrees to maintain and repair the exterior of the restaurant, restrooms, and "half-way house", which maintenance and repairs shall ir~clude exterior painting and roof repair. All -6-