Each
Floathome will be owned by the purchaser. Full legal title documents,
and "as built" engineered construction drawings will be provided
to the purchaser.
Each Marine Lot will be sub-leased from the Marina.
The Marine Lot sub-lease will be assignable by the Floathome
owner (with the consent of Department of Transport and the Marina).
The Marine Lot sub-lease will be for a term expiring January 2023, which is the term of the Head Lease
of the
Marina,
but which Head Lease we fully expect to renew as the term winds
down. Any renewal of our Head Lease requires the consent of the Federal Department of Transport which consent they are not obliged to give. We offer renewal of your sub-lease provided our Head Lease is renewed. The renewal terms will be determined at the time of renewal.
Please note: A portion of the Marine Lot sub-lease must be pre-paid and a portion is payable
monthly.
Each
Floathome will be owned by the purchaser. Full legal title documents,
and "as built" engineered construction drawings will be provided
to the purchaser.