PURCHASE AND SALE AGREEMENT THIS AGREEMENT (this "Agreement") is made as of the Effective Date (as hereinafter defined) by and between Christian Kjaer ("CK") and GSJ Properties, Corp. ("GSJ") (collectively the"Sellers") and Great St. Jim, LLC, a Virgin Islands Limited Liability Company ("Purchaser"). RECITALS: A. Sellers own the land and improvements 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 "Parcel")• B. CK is the permittee of a submerged land permit, for a dock on the Parcel, designated and more particularly described in Exhibit B attached hereto, together with the Fee Parcel, (the "Property")• and C. Subject to the terms of this Agreement as more fully detailed herein, CK and GSJ desires to sell, assign, transfer and convey its-their interests in the Property to Purchaser on the Closing Date, and-6Kr the-sole-shateholdes-of-tho-G8J-desiros-to-sefir assiger trapsfer-and-esiwey all of the stock intcrcst& in GSJ (the "Stock Interest") to Purchaser on the Closing Date,_in accordance with the terms and provisions of this Agreement, and Purchaser desires to purchase the Property and-the-Steek-Interest-as more particularly described in Exhibits A and B from Sellers, respectively, on the Closing Date, upon the terms more particularly set forth in this Agreement. Notwithstanding anything to the contrary contained herein, the transfer of the Property contemplated by this Agreement does not include the conveyance of any rights or easements to property elsewhere. NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto covenant and agree as follows: