Lease - Southpoint Square I, Ltd. And Misener Marine Construction, Inc.

Exhibit 10.5 SOUTHPOINT SQUARE I, LTD.LEASEThis LEASE AGREEMENT dated September 28, 2006 , by and between SOUTHPOINT SQUARE I, LTD., with its principal office at 6821 Southpoint Drive, N., Jacksonville, Florida, 32216 hereinafter called the LESSOR, and Misener Marine Construction, Inc. , with its principal office at 5600 West Commerce Street, Tampa, Florida 33616 , hereinafter called the LESSEE.WITNESSETHThe LESSOR hereby leases to the LESSEE and the LESSEE hereby leases from the LESSOR, the following described property, sometimes hereinafter referred to as the leased premises to-wit:Space designated as Suite 221 , 6821 Southpoint Drive, N., Duval County, Jacksonville, Florida 32216, comprising approximately 1,152 square feet.1. TERM: Lessee to have and to hold above described premises for a term of six (6)months, commencing on October 1, 2006 and terminating on March 31, 2007 , on the terms and conditions as set forth herein.2. USE AND POSSESSION: It is understood that the leased premises are to be used for general office purposes and for no other purpose without prior written consent of Lessor. Lessee shall not use the leased premises for any unlawful purpose or so as to constitute a nuisance (including bringing in pets to the office). The Lessee will exercise all reasonable care in the use of halls, rest rooms, and other parts of the Building used in common with other tenants in the Building, and will not make or permit any disfigurement or detachment or injury to any part of the Premises. The Lessor covenants and agrees to have the leased premises completed and ready for possession on or before the above commencement date, barring strikes, insurrections, Acts of God and other casualties or unforeseen events beyond the control of the Lessor. The Lessee, at the expiration of the term, shall deliver up the leased premises in good repair and condition, damages beyond the control of the Lessee, reasonable use, ordinary decay, wear and tear excepted.3. RENT: Lessee hereby covenants and agrees to pay the Lessor, a Monthly Base Rent excluding sales and/or use taxes of Two-Thousand and Ninety-Five Dollars ($2,095) , payable in advance beginning on the commencement date of this Lease and on the first day of each and every month thereafter, plus 7% Florida State sales tax in the amount of One-Hundred and Forty-Six Dollars and Sixty-Five Cents ($146.65) , for a total monthly rent of Two-Thousand Two-Hundred and Forty-One Dollars and Sixty-Five Cents ($2,241.65) . Rent shall be paid to the Lessor at 6821 Southpoint Drive, N., Jacksonville, Florida 32216. Base rent shall be adjusted annually in the manner set forth in Paragraph Four. Lessor may charge Lessee a late charge of 5% of each rental payment which is not received by the Lessor within five days of the due date, which date being the first day of the month, and that the Lessor may charge the Lessee an additional 15% late fee if the same rental payment is not received by the 10th of the month. If Lessee' s possession commences on other than the first day of the month, Lessee shall occupy the leased premises under the terms, conditions, and provisions of this Lease, and the prorate portion of the monthly rent for said month shall be paid and the term of the Lease shall commence on the first day of the month following that which possession is given.4. RENT ADJUSTMENT: The Lessor shall notify the Lessee of the adjusted monthly rent, in writing, prior to the respective anniversary date on which such rent adjustment occurs. The lessee agrees to pay the adjusted monthly rent together with any applicable taxes as set forth in Paragraph Five, on the first day of each month for the following twelve-month period or for those months remaining in said period after notification by Lessor.5. SALES AND USE TAX: The Lessee hereby covenants and agrees to pay monthly, as


additional rent, any sales, use or other tax, excluding State and/or Federal Income Tax, now or hereafter imposed upon rents by the United States of America, the State, or any political subdivision thereof, to the Lessor.6. NOTICE: For the purpose of notice or demand, the respective parties shall be served by certified or registered mail, return receipt requested, addressed to the Lessee at its principal office address as set forth herein and to the Lessor at its mailing address, 6821 Southpoint Drive, N., Jacksonville, Florida 32216.7. ORDINANCES AND REGULATIONS: The Lessee hereby covenants and agrees to comply with all the rules and regulations of the Board of Fire Underwriters, officers or Boards of the City, County or State having jurisdiction over the leased premises, and with all ordinances regulations of governmental authorities wherein the leased premises are located, at Lessor' s sole cost and expense, but only insofar as any of such rules, ordinances and regulations pertain to the manner in which the Lessee shall use the leased premises: the obligation to comply in every other case, and also all cases where such rules, regulations and ordinances require repairs, alterations, changes or additions to the building equipment, or any part of either, being hereby expressly assumed by Lessor, and Lessor covenants and agrees promptly and duly to comply with all such rules, regulations and ordinances with which Lessee has not herein expressly agreed to comply. Lessee shall not do or suffer to be done, or keep or suffer to be kept, anything in, upon or about the premises which will contravene Lessor' s policies insuring against loss or damage by fire or other hazards, or which will prevent Lessor from procuring such policies in companies acceptable to Lessor, or which will cause an increase in the insurance rates upon any portion of the building. If Lessee violates any prohibition provided for in the first sentence of the Section, Lessor may without notice to Lessee, correct the same at Lessee' s expense. Lessee agrees to pay to Lessor as Additional Rent on demand the amount of any increase in premiums for insurance resulting from any violation of the first sentence of this paragraph, even if Lessor shall have consented to the doing of, or the keeping of, anything on the premises which constitute such a violation (but the payment of such Additional Rent shall not entitle Lessee to violate the provisions of the first sentence of this Section).8. SIGNS: The Lessor will provide the Lessee with door and directory signage in accordance with the Lessee' s specifications. The Lessee will not place any signs or other advertising matter or material on the exterior or on the interior of the leased premises or on the building in which the leased premises are located without the prior written consent of the Lessor.9. SERVICES: Lessor covenants and agrees, at Lessor' s expense, to furnish the leased premises with: a) janitorial service and trash removal from leased premises five days a week, b) furnishing, supplying and maintaining building common areas and rest room facilities, including water and sewage disposal in the building in which the leased premises are located, c) heating and air conditioning for the comfortable use and occupancy of the leased premises during normal business hours, d) electricity twenty-four hours a day, seven days a week, suitable for the intended use as general office space, including the use of general office equipment (inclusive of computers, typewriting and facsimile machines). Lessor shall provide free parking for Lessee' s employees and visitors on Lessor' s parking area adjacent to the building in which the leased premises are situated. Lessee will not interfere with the installation or operation of the interior lighting system, or the heating, ventilating and air conditioning system and will take, or join with Landlord in taking all reasonable measures to conserve energy used in operation of the buildings. If the Lessee shall require electrical current or install electrical equipment including, but not limited to, electrical heating, refrigeration equipment, or machines or equipment using current which will in any way increase the amount of the electricity usually furnished for use in general office space, Lessee will obtain prior written approval from the Lessor and pay periodically for the additional direct expense involved. Lessee will reimburse the Lessor for expenses incurred by the Lessor, if any, to provide extraordinary protection for the persons and property of the Lessor or other Lessees of the Lessor

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from injury or loss or threat of injury or loss from riot, civil commotion, vandalism, or malicious mischief if and to the extent that such injury or threat is caused by the unusual nature or reputation of Lessee or Lessee' s business, occupation, or profession. Nothing in this clause shall be deemed to obligate Lessor to provide such extraordinary protection.10. ALTERATIONS: Lessee, by occupancy of the finished suite, accepts the leased premises and every part thereof in good repair and condition, ordinary decay and wear and tear excepted. Lessee shall not make or suffer to be made any alterations, additions, or improvements to the leased premises or any part thereof without prior written consent of Lessor, which consent the Lessor covenants and agrees shall not be unreasonably withheld. If the Lessor consents to the proposed alterations, additions, or improvements, the same shall be at Lessee' s sole cost and expense, and Lessee shall hold Lessor harmless on account of the cost thereof. Any such alterations shall be made at such times and in such a manner as not to unreasonably interfere with the occupation, use, and enjoyment of the remainder of the building by the other tenants thereof. If required by Lessor, such alterations shall be removed by Lessee upon the termination or sooner expiration of the term of this Lease, and Lessee shall repair damage to the premises caused by such removal, at Lessee' s cost and expense. " Modular" furniture and walls that are free standing and unsecured either to the floor or to the existing walls are not considered alterations for the purpose of this lease.11. QUIET ENJOYMENT: (a) The Lessor covenants and agrees that Lessee, on paying said monthly rent and performing the covenants herein, shall and may peaceably and quietly hold an ...