Default and Termination

From and after the effective date of this Article, the following provisions shall apply to and be incorporated into any submerged lands License Agreement entered into with the CLTC:

(a)Any failure to comply with this Article, the License Agreement, or a material term of the conditions of any government approval, permit, and concurrence shall be considered a material breach of the License Agreement. The party aggrieved by such breach may deliver a “Notice of Default” to the party in breach specifying such noncompliance and the appropriate cure. Except as otherwise provided in this Article, if the breach has not been corrected within a period of ninety

(90)days after receipt of the Notice of Default, then the aggrieved party may terminate the License Agreement. Notwithstanding the foregoing, if the breach cannot reasonably be corrected during its applicable cure period, then the aggrieved party may not terminate the License Agreement if the breaching party begins to correct such noncompliance during the cure period and diligently pursues corrective measures to completion.

(b)Upon termination or expiration of the License Agreement, unless extended pursuant to the terms of the License Agreement, the License Agreement shall become null and void, except that CLTC may enforce any and all obligations of Licensee arising out of acts or omissions occurring prior to such termination or expiration.

(c)Without limiting any other remedies the CLTC may have arising out of the License Agreement or at law in respect of any default in the performance of Licensee’s obligations under the License Agreement, the CLTC shall have the right, in the case of any default and without any re-entry or termination of the License Agreement, to enter upon the Licensed Property and cure or attempt to cure such default (but this shall not obligate the CLTC to cure or attempt to cure any such default or, after having commenced to cure or attempt to cure such default, prevent the CLTC from ceasing to do so) and Licensee shall promptly reimburse to the CLTC any expense incurred by the CLTC in so doing and the same shall be recoverable.

(d)The License Agreement may be terminated in any of the following events (each an “Event of Default”): CH. 75A CHAMORRO LAND TRUST COMMISSION EFFECTIVE JANUARY 1, 2021

(1)If license fees or any part thereof shall not be paid on any day when such payment is due, CLTC may, at any time thereafter, give notice of such failure to Licensee, and if the failure is not remedied by Licensee within five

(5)days after the giving of such notice; or

(2)If Licensee fails or neglects to perform or comply with any of the terms, covenants or conditions contained in the License Agreement (other than the covenants to pay license fees) on the part of Licensee to be performed or observed, CLTC may, at any time thereafter, give notice of such failure or neglect to Licensee:

(A)if the matter complained of in such notice is capable of being remedied by the payment of money, has not corrected the matter complained of within a period of five

(5)days after the giving of such notice; or

(B)if the matter complained of in such notice is not capable of being remedied by the payment of money has not corrected the matter complained of within a period of twenty

(20)days after the giving of such notice, or if a period of more than such twenty

(20)days is reasonably required to remedy, with reasonable diligence, the matters complained of in such notice, has not forthwith commenced to remedy the same and diligently prosecute the remedying of the same to completion; or

(C)if an event of insolvency shall have occurred with respect to Licensee; or

(D)a breach of an obligation by Licensee which has resulted in cancellation of insurance coverage where Licensee has not prior to or concurrent with such cancellation replaced such coverage with comparable coverage or breach of an obligation where there has been a notice of cancellation of insurance coverage which has not been cured and where Licensee has not, within the period of time set out in such notice, or within ten

(10)days where no period is set out therein, replaced such coverage with comparable coverage or which is otherwise a breach of the obligations respecting insurance; or

(E)abandonment of the project by Licensee; the CLTC, at its option, may terminate the License Agreement by notice to Licensee, in which event such termination shall be effective immediately upon the delivery of such notice and may enter upon the Licensed Property with or without process of law and take possession thereof.

(F)if a cable is decommissioned by Licensee, Licensee, at its option, may terminate the License Agreement by providing written notice to the CLTC, in which event such termination shall be effective twelve

(12)months after the delivery of such notice and CLTC may enter upon the Licensed Property and take possession thereof. Upon termination by Licensee, all fees (landing and annual) shall cease for the decommissioned cable.