Main Terms of the OSP Lease Agreement

· Term and Exercise of Lease Option: 12 Months. Allows OSP to exercise option to lease roof upon successful permitting (OPA, Hydro Company and all other relevant entities). OSP spends $10,000 to 20,000 at this stage for permits and deposits, so we are determined and committed to complete the project.

· OSP has access to the rooftop and relevant ground sites to install the solar facility, as well as repair and maintain the facility, when necessary. OSP will give sufficient prior notice.

· The term of the lease agreement is 20 years.

· OSP will cover all insurance costs related to the solar facility ($5m or more of liability insurance). Owner will continue to hold property, damage and liability insurance (excluding solar facility).

· OSP will remove solar facility at own expense at the end of the lease. The equipment’s material (copper, aluminum, silicon) has a high resale value.

In case you have further questions, please contact us here.