PURCHASE AND SALE AGREEMENT THIS AGREEMENT (this "Agreement') is made as of this day of December 2015 (the "Effective Date') by and between Christian Kjaer ("Cr') and GSJ Properties, Corp. ("GSJP" or "Corporation") (collectively the "Sellers') and Great St. Jim, LLC, a Virgin Islands Limited Liability Company ("Purchaser'). RECITALS: WHEREAS CK owns Parcel A Great St. James, No. 6A Red Hook Quarter, on the island commonly known as Great St. James Island, St. Thomas, U.S. Virgin Islands, designated and more particularly described in Exhibit A attached hereto, together with any buildings and other improvements located thereon (such land, buildings and improvements, the "Property'); WHEREAS GSJP, a U.S. Virgin Islands corporation, solely owned by CK, owns Parcel B-1 and B-2 Great St. James, No. 6A Red Hook Quarter on the island commonly known as Great St. James Island, St Thomas, U.S. Virgin Islands, designated and more particularly described in Exhibit...a attached hereto, together with any buildings and other improvements located thereon; which for purposes of this Agreement shall be deemed to be included in the defined term "Property". WHEREAS GSJP has indicated that it has been deeded Parcels C-1 and C-2 Great St. James, No. 6A Red Hook Quarter, on the island commonly known as Great St James Island, St. Thomas, U.S. Virgin Islands, designated and more particularly described in Exhibit A attached hereto, together with any buildings and other improvements located thereon, which for purposes of this Agreement shall be deemed to be included in the defined term "Property", which deed shall be recorded prior to the consummation of the sale of the Property. WHEREAS CK is the permittee of a submerged land permit, for a dock on the Property, designated and more particularly described in Exhibit B attached hereto, which for purposes of this Agreement shall be deemed to be included in the defined term "Property"; WHEREAS, subject to the terms of this Agre