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THIS DRAFT DOES NOT CONSTITUTE AN OFFER <br />NOR A COMMITMENT TO EXTEND AN OFFER <br />Aquatic Lands Lease (Rev. 7/20/2022) Page 12 of 57 Lease No. 20-107205 <br />and regardless of whether Tenant enters into a new Lease for the <br />Property. <br />(2) If Tenant enters into a new Lease for the Property, State may waive <br />requirement to remove Tenant-Owned Improvements. State also may <br />consent to Tenant’s continued ownership of Tenant-Owned <br />Improvements. <br />(3) If Tenant does not enter into a new Lease for the Property, State may <br />waive requirement to remove Tenant-Owned Improvements upon <br />consideration of a timely request from Tenant, as follows: <br />(i) Tenant shall submit its request to leave Tenant-Owned <br />Improvements to State at least one (1) year before the Termination <br />Date. <br />(ii) State, within ninety (90) days of receiving Tenant’s request, will <br />notify Tenant whether State consents to any Tenant-Owned <br />Improvements remaining. State has no obligation to grant consent. <br />(iii) State’s failure to respond to Tenant’s request to leave <br />Improvements within ninety (90) days is a denial of the request. <br />(c) Tenant’s Obligations if State Waives Removal. <br />(1) For any Tenant-Owned Improvements that State has waived the <br />requirement for removal, Tenant shall not remove such Tenant-Owned <br />Improvements. <br />(2) For any Tenant-Owned Improvements that State has waived the requirement <br />for removal, Tenant shall maintain such Tenant-Owned Improvements in <br />accordance with this Lease until the termination of the Lease. Tenant is liable <br />to State for cost of repair if Tenant causes or allows damage to Tenant-Owned <br />Improvements State has designated to remain. <br /> <br />7.6 Unauthorized Improvements. <br />(a) Unauthorized Improvements belong to State, unless State elects otherwise. <br />(b) The placement of Unauthorized Improvements on the Property is a default of the <br />Lease. State may require removal of any or all Unauthorized Improvements. If <br />State requires removal of Unauthorized Improvements and if Tenant fails to <br />remove the Unauthorized Improvements, State may remove the Unauthorized <br />Improvements and Tenant shall pay for the cost of removal and disposal. <br />(c) In addition to requiring removal of Unauthorized Improvements, State may <br />charge Tenant a use fee that is sixty percent (60%) higher than the full market <br />value of the use of the land for the Unauthorized Improvements from the time of <br />installation or construction until the time the Unauthorized Improvements are <br />removed. <br />(d) If State consents to Unauthorized Improvements remaining on the Property, upon <br />State’s consent, the Unauthorized Improvements will be treated as Tenant-Owned <br />Improvements and the removal and ownership of such Improvements shall be <br />governed by Paragraph 7.5. If State consents to the Unauthorized Improvements <br />remaining on the Property, State may charge a use fee that is sixty percent (60%) DRAFT