Hello Brian & Rick,


I wanted to share a quick summary of the landlord’s most recent update (see
below) regarding the 3900 W Coachman Ave lease and check your availability
to connect directly with them this week.

Key Points from the Landlord’s Update:

   -

   A revised lease will be sent by Wednesday, with a new commencement date
   of September 1.
   -

   Rent abatement is being adjusted: instead of 50% in September and
   October, it will now be 20% for each month. By November, full rent
   begins as previously planned.
   -

   Missed July/August NNN payments have been factored into this adjustment
   (they are not collecting retroactively).
   -

   Deadlines & Payments:
   -

      Friday, August 22: Lease must be fully executed; $51,566.26 payment
      due at signing.
      -

      September 1: First full rent payment of $98,790.62 due (with
      $51,566.26 already applied at signing).
      -

      September 15: Full security deposit of $674,214.61 due (can be split
      between monetary payment and letter of credit).
      -

      October 1: Rent of $95,913.23 due.
      -

      November and onward: Rent increases to $113,445.76 monthly.
      -

   Florida will eliminate commercial rent sales tax in October, reducing
   monthly rent by ~$3,400 going forward.


The landlord also reiterated that if the lease is not signed and initial
payments are not made by this Friday, they will re-engage other interested
tenants and re-list the property.

Please let me know your availability to connect with the landlord this
week. Once I have your availability, I will coordinate directly with them
to set up the call.


Thank you and looking forward to moving this into the final round of
execution.


Jordan G. Wroblewski

Partner | President

Lithium Battery Company

Direct: (917) 266-5336

*jordan@lithiumbatterycompany.com
<Jarrett.brownfield@trackmastermobility.com>*

Lithium Battery Company <http://lithiumbatterycompany.com>


---------- Forwarded message ---------
From: Ozzie Mutz <Ozzie@laurelridge.net>
Date: Mon, Aug 18, 2025 at 2:45 PM
Subject: 3900 W Coachman Ave - Revised Lease Terms and Final Execution
Deadline
To: Nathan Staron <Nathan@lithiumbatterycompany.com>, Jordan Wroblewski <
jordan@lithiumbatterycompany.com>, Jarrett Brownfield <
jarrett@lithiumbatterycompany.com>
Cc: Bert de Alejo <bert@laurelridge.net>, Joe Facchini <joe@laurelridge.net>


Hi LBC team,

Thanks again for your text messages last week.  I wanted to follow up
formally to recap where things stand and outline the next steps.

I’ll be sending over a revised lease by early Wednesday that reflects a new
Commencement Date of September 1.  It will also include revised rent
abatement terms to account for the missed payments in July and August.
Rather than the previously discussed 50% base rent abatement for September
and October, the updated lease will reflect a 20% abatement for each of
those two months.  This adjustment brings us to roughly the same place by
November, when full rent is set to begin.

To clarify: we are not backdating the lease to July 1 and then collecting
partial rent for July or August.  Instead, the missed NNN payments for
those months are being factored into the reduced rent abatement in
September and October.

*Key Deadlines & Payment Structure*

   - The lease must be fully executed no later than this Friday, August 22.
   - The $51,566.26 payment will be due at signing, as previously discussed.
   - On September 1, the first full rent payment will be due.  This totals
   $98,790.62 ($51,566.26 will have already been paid leaving a balance of
   $47,224,36) and includes:
      - Base Rent: $70,130.10 (80% of full base rent)
      - NNN Expenses: $25,783.13
      - Sales Tax: $2,877.39
   - The full security deposit of 674,214.61 will be due by September 15.
      - The can still be split between $233,698.28 monetary payment and
      $440,818.05 letter of credit, or some, if not all, letter of credit funds
      can be shifted to a monetary deposit.
   - Once the August 22, September 1, and September 15 required rent and
   security deposit payments have been made in full, you’ll have access to the
   premises.  However, you won’t have access to the premise until those
   payments are made in full.
   - On October 1, the next month’s rent  of $95,913.23 will be due.
   - On November 1 and monthly thereafter, monthly rent of $113,445.76 will
   be due.
      - As a helpful note: beginning in October, Florida is eliminating
      sales tax on commercial rents, which will reduce your future unabated
      monthly rent payments by approximately $3,400.

This structure should match the expectations you communicated last week.


*Additional Request*
Please connect us directly with Brian Stufflebean from Bayfront Capital.
We’d like to confirm the current timeline and status of your JV discussions
with him.

To be candid, we are disappointed by the number of missed deadlines to
date.  If the lease is not signed and the required payment is not made by
Friday, we will begin re-engaging the other interested tenants we’ve had on
hold and will re-list Coachman under the premium advertising plans where we
had previously taken it down in anticipation of wrapping up our lease with
you.  Please also understand that, as time passes, the terms currently
offered may no longer be available and will likely become less favorable.

I look forward to your confirmation and timely execution of the next steps.

Best regards,

*Ozzie Mutz*
(863) 698-1493 | Ozzie@LaurelRidge.net
Laurel Ridge | www.LaurelRidge.net <http://www.laurelridge.net/>