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2. CVD shall have the right to use the subject premises during the designated usage period for purpose of preparation for and conducting the annual Conejo Valley Days celebration, which includes, but is not limited to, live entertainment, carnival, exhibition tents, vendor tents, booths and parking vehicles in designated locations for those attending. CVD shall not expand the contemplated activities or events conducted on the subject premises without making such a request in writing and receiving prior written approval of the DISTRICT. The rules and regulations by which activities of Conejo Valley Days are to be conducted shall be within the exclusive discretion of CVD, subject to the provisions of paragraph 5 of this Agreement and Permit Conditions. A Motocross event acceptable to the DISTRICT may be added, but only at the discretion of the DISTRICT. DISTRICT has the right to provide and display a sponsorship banner during the event. The DISTRICT and CVD shall mutually agree on the sponsorship banner text, size and location. CVD shall comply with conditions during its use of the subject premises as per Exhibit B. 3. CVD acknowledges that it has inspected the subject premises and accepts the same "as is" and further acknowledges that it will inspect the subject premises each year prior to making any written request naming the specific usage period, and indicate in said written request that the subject premises are accepted in an "as is" condition. At the conclusion of the Conejo Valley Days events, and no later than Tuesday, 10:00 p.m., May 12, 2020, CVD agrees to leave the subject premises in as good a condition as when received by it, and shall remove all structures, materials, equipment, and trash which results from the Conejo Valley Days celebration from the subject premises and shall otherwise restore the subject premises as necessary to place them in the same condition as when received. 4. CVD shall not attempt to cause any permanent improvement to the subject premises in any way without prior written consent of the DISTRICT. Any permanent improvement shall have a separate agreement between the parties, with each separate agreement specifying the details of said improvement including, but not limited to, the location and who shall be responsible for the costs, maintenance, and insurance of said improvement. Each agreement shall set forth a buyout provision establishing a formula and a procedure whereby DISTRICT shall repay CVD for the cost of the improvement in the event that this Agreement is terminated by the DISTRICT pursuant to the terms and conditions of paragraph 13 of this Agreement. Conejo Valley Days 2020 Agreement I Page 2