Gingerbread Cottage (37 Grand Ave) Rental Agreement

The rental of this property is subject to the understanding and agreement to a lease

and lease rider.

1. USE: The Premises shall be used only as a private single-family dwelling by the

above-named Tenant, the Tenant's family, domestic employees, and non-paying

guests. The tenant shall not sell shares to any person nor may the Tenant rent, sublet

or lease any portion of the Premises to any person without the written consent of the

Landlord.

2. Tenant must, at Tenant’s cost, promptly comply with all laws, orders, rules and

directions of all governmental authorities, property owners associations, insurance

carriers or Board of Fire Underwriters or similar group, including but not limited to

those imposed by the Town of Shelter Island regarding the number of "unrelated

individuals" that may occupy the Premises.

3. QUIET ENJOYMENT: Landlord agrees that if Tenant pays the rent and is not in

default of any of the terms of this Lease Agreement, Tenant may peaceably have,

hold and enjoy the Premises for the term of this Lease Agreement.

4. SECURITY DEPOSIT: The Security Deposit is to be held by Landlord. Within fourteen

(14) days following termination of the lease term, Landlord agrees to return the

Security Deposit to Tenant, adjusted for any damages along with copies of all bills

paid with the Security Deposit.

5. UTILITIES & SERVICES:

a) Premises to be cleaned by Landlord’s housekeeper at Landlord’s cost prior to

Tenant taking possession and all linens and towels will be washed and ready for use

before the commencement of the lease term.

b) Landlord represents that all utilities, appliances, air/conditioning, heating, pool

equipment, and pool heater, to the extent same exist at the Property, will be in

working order at the commencement of the lease, but Landlord makes no

representation as to the availability or functionality of any utilities/services at the

premises beyond Landlord’s control.

c) During the Term of this Lease Agreement, Tenant shall be responsible for the costs

of the Utilities and Services at the Premises noted herein and shall pay for same as

follows, all of which shall be deemed additional rent:

i) ACCOUNTS TO REMAIN IN LANDLORD’S NAME: the Landlord and Tenant acknowledge

and agree that the rental sum noted herein includes the cost of all utility and

services, as noted in the final Lease Agreement and Rider, and that all utilities shall

remain in the name of the Landlord during the lease term and the services shall be

coordinated and paid for by the Landlord during the terms of the lease.

ii) Without limitation, Tenant shall be responsible for the following Utilities:

electricity, propane and housekeeping. Tenant agrees that the cost of said Utilities

may in Landlord's discretion be deducted from the Security Deposit.

6. FUEL TANK FILL-UP: Prior to the commencement of the lease term, Landlord shall,

at Landlord’s sole cost and expense, fill the fuel tank (oil, propane, or gas, as

applicable) at the Premises to capacity for delivery of the leased premises to the

Tenant. Upon the expiration of the lease term, Tenant shall, at Tenant’s sole cost and

expense, fill the fuel tank at the Premises to capacity for return of the leased

Premises to the Landlord.

7. CONDITION OF THE PREMISES: The Premises shall be delivered to Tenant in clean

condition, furnished and in the same condition as when it was shown to Tenant,

subject to wear and tear between the showing and the commencement of the lease

term. Tenant shall return the Premises in the same condition as delivered to Tenant,

subject only to reasonable wear and tear. Tenant agrees to make no alterations to

the Premises or the furniture contained therein, including, without limitation,

material moving of furniture, or removal to storage of any of Landlord's furnishings,

without Landlord’s express written consent.

8. NOTICE OF DEFECTS: Within 48 hours after the commencement of the lease term,

Tenant shall notify Landlord of any malfunction in equipment, breakage, damage or

other item in need of repair, existing at the commencement of the term of the lease.

9. FIRE/DAMAGE: Promptly when Tenant knows or should know of any damage or

malfunction in equipment, breakage, or any item in need of repair, Tenant must

notify Landlord of same. If, through no fault or negligence of the Tenant, fire or any

other unavoidable casualty damages the Premises such that the Premises are

uninhabitable, Landlord shall have the right to repair the damage within a reasonable

time or cancel this Lease.

10. LIABILITY: Landlord is not liable for loss, expense or damage to any person or

property unless it is due to Landlord’s gross negligence. Tenant must pay for damages

suffered and money spent by Landlord relating to any claim arising from any act or

neglect of Tenant, Tenant’s family, employees, guests, and invitees. Tenant shall be

responsible for the cost and expense of repair or any cost relating to any claim arising

from any act or neglect of Tenant, but shall make no repair without first obtaining

the express authorization of the Landlord.

11. ACCESS TO PREMISES: Tenant shall permit the Landlord or Landlord’s agent to

make repairs and to show the Premises for rent or sale at reasonable daytime hours,

including weekends, by prior appointment, with at least twenty-four (24) hours

advance notice to Tenant.

12. NO SMOKING: The parties hereby agree that Tenant shall not smoke on the

Premises and that Tenant shall not allow any family or other guests or invitees to

smoke at the Premises.

13. ACCELERATION: In the event of a default by Tenant of any of the lease terms,

Landlord shall have the right to accelerate all payments owed so that the entire

outstanding balance of rent and any other amounts owed by Tenant shall then be

immediately due and payable.

14. LATE PAYMENT: Notwithstanding the remedies available to Landlord under the

terms of this lease and by law, if Tenant’s payment of rent becomes ten (10) days

past due, Landlord may charge Tenant a late charge in an amount as permitted by

law.

15. INDEMNIFICATION: Tenant hereby indemnifies and holds Landlord harmless from

and against any liability, damage, expense, judgment, claim or other loss, including

reasonable attorney’s fees, arising from Tenant’s default, or use and occupancy of

the Premises, unless caused by Landlord's gross negligence.

16. FORCE MAJEURE: Landlord shall not be liable or in breach of Lease Agreement

and Rider for any delay, inability, breach or default in performing any obligation

under the Lease Agreement ir Rider or in connection with any Booking, whether in

whole or in part, resulting from a Force Majeure. Except for the Guest’s Cancellation

of a Booking timely made in accordance with the Cancellation Policy that provides the

Guest with a refund or credit, the Guest shall not receive any refund or credit in the

event of any Cancellation caused by a Force Majeure, whether invoked or declared by

Landlord or the Guest. The term “Force Majeure” means: (1) any inability or failure

by Landlord to perform its obligations under the Lease Agreement, in whole or in

part, for any reason beyond Landlord's control, or (2) the Guest’s inability to travel

to, access, use or enjoy the property, in whole or in part, for any reason beyond the

Guest’s control. Without limiting the foregoing, a Force Majeure also includes,

without limitation, any event caused by an act of God; flood; fire; storm; destruction;

inclement weather or a change of conditions which limit or affect the ability to access

or use the Property or participate in Activities, such as the ability to travel to or stay

at the Property or Activities; rain, snow storms or other adverse or unfavorable

weather threats or conditions, or insufficient or unavailability of snow, water or other

natural or man-made resources; strike; lockout; war; riot; insurrection; government

or civil authority order or action; embargo; quarantine; pandemic, virus or other

disease; health or safety guidelines, advisories or restrictions; state, country or local

government or civil authority travel bans, closures, advisories or restrictions; legal

restrictions, or compliance with any applicable state, federal or local government or

civil authority laws, rules, ordinances or regulations or changes thereto; government

or civil authority ordered shut downs or cessation of business or activities;

administrative evacuation; or any other cause beyond either party’s control, whether

or not related to any of the foregoing.