Final Order — Motor Vehicle Retail Installment

Index: OFR 2026 - 346
STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
CYCLE SPRINGS POWER SPORTS, LLC,
RICHARD ROTH DIMMITT,
RICHARD ROTH DIMMITT, JR., and
PETER BOSE DIMMITT,
Petitioners.
FINAL ORDER
Case Number: 138011
This cause came on for consideration and final agency action. Upon review of the record and being otherwise fully advised in the premises, the Office of Financial Regulation ("Office") hereby finds:

1. The Office has jurisdiction over the subject matter of this case and the parties
   hereto.
2. The entry of this Final Order concludes the above-referenced matter.
   ORDERED:
   A. The Stipulation and Consent Agreement (Exhibit A) is hereby approved and incorporated by reference as if fully stated herein and is adopted as the Office's Findings of Fact and Conclusions of Law. B. The parties shall comply with all terms of the Stipulation and Consent Agreement. DONE and ORDERED this ~ day of July, 2026, in Tallahassee, Leon County, Florida. Commissioner

CERTIFICATE OF SERVICE
I HEREBY CERTIFY that a true and correct copy of the foregoing Final Order has been furnished to Cycle Springs Power Sports, LLC, Richard Roth Dimmitt, Richard Roth Dimmitt, Jt., and Peter Bose Dimmitt by electronic mail sgarritani@cyclesprings.com and kjordan@dimmitt.com on this /~ of July, 2026. egulation X 50 Tallahassee, 32314-8050 Email: Agency.Clerk@flofr.gov Tel: (850) 410-9889 2

STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
CYCLE SPRINGS POWER SPORTS, LLC,
RICHARD ROTH DIMMITT,
RICHARD ROTH DIMMITT, JR., and
PETER BOSE DIMMITT,
Petitioners.
Exhibit A
Case Number: 138011
STIPULATION AND CONSENT AGREEMENT
The State of Florida, Office of Financial Regulation ("Office"), and CYCLE SPRINGS POWER SPORTS, LLC, RICHARD ROTH DIMMITT, RICHARD ROTH DIMMITT JR., and PETER BOSE DIMMITT ("Petitioners") in consideration of the mutual promises herein, recites, stipulates, and agrees as follows:

1. Background. On April 23, 2026, Petitioners submitted a new application for
   Iicensure as a motor vehicle retail installment seller, pursuant to chapter 520, Florida Statutes. On April 24, 2026, the application was deemed complete. Based on disclosures made by Petitioners during the application process, the Office determined Petitioners engaged in unlicensed motor vehicle retail installment se11er activity during the period of May 1, 2023, through April 23, 2026. Richard Roth Dimmitt is an Officer and Thirty-Six (36) Percent Owner of Cycle Springs Power Sports, LLC. Richard Roth Dimmitt, Jr., is an Officer and Thirty-Two (32) Percent Owner of Cycle Springs Power Sports, LLC. Peter Bose Dimmitt is an Officer and Thirty-Two (32) Percent Owner of Cycle Springs Power Sports, LLC. In lieu of initiating a formal proceeding, the parties are herein resolving the matters at issue.
2. Jurisdiction. The Office is the state agency charged with the administration and
   enforcement of chapter 520, Florida Statutes, and the rules promulgated thereunder. The Office

has jurisdiction to bring this administrative action against Petitioners pursuant to chapter 520, Florida Statutes.
3. Findings. For purposes of this Stipulation and Consent Agreement, Petitioners
consent to the Office making a finding that during the period of May I, 2023, through April 23, 2026, Petitioners engaged in unlicensed motor vehicle retail installment seller activity, in violation of sections 520.03( 1) and 520.995(1 ), Florida Statutes.
4. Terms and Conditions. The parties agree that the issues raised can be
expeditiously resolved without further litigation by the execution of this Stipulation and Consent Agreement. The parties acknowledge that they have read this Stipulation and Consent Agreement and fully understand the rights, obligations, terms, duties, and responsibilities with respect to its contents. Therefore, in compromise and settlement of the foregoing findings and in consideration of the Office's forbearance from further litigation, Petitioners agree to the following terms and conditions:
a. FUTURE COMPLIANCE. Petitioners agree that it shall cease and desist from violations of chapter 520, Florida Statutes, and the rules promulgated thereunder, and comply with all provisions of chapter 520, Florida Statutes, and the rules promulgated thereunder. b. ADMINISTRATIVE FINE. Petitioners agree to pay the Office an administrative fine in the amount of Five Thousand Dollars ($5,000.00), to be paid at the time of the execution and delivery of this Stipulation and Consent Agreement. This administrative fine shall be submitted in the form of a wire, cashier's check, or money order made payable to "Office of Financial Regulation ". Such payment shall reference Case Number 138011 and shall be sent to the attention of Agency Clerk- c/o Attorney Carrie Franz, Post Office Box 8050, Tallahassee, Florida 32314-8050. Petitioners acknowledge and

agree that in accordance with section 2I5.31, Florida Statutes, regarding the deposit of monies, (i) the tendered fine or settlement check may be deposited in advance of full execution or acceptance of the Stipulation and Consent Agreement; and (ii) such deposit shall not be construed as a final acceptance of the Stipulation and Consent Agreement absent fu II execution thereof and entry of a Final Order adopting same.
c. LICENSURE. The Office shall approve Petitioners' motor vehicle retail
installment seller application and issue the license within one business day of the date of the Final Order adopting this Stipulation and Consent Agreement.
5. Final Order. Petitioners consent to the entry of a Final Order, which incorporates
the terms of this Stipulation and Consent Agreement. Petitioners understand and agree that this Stipulation and Consent Agreement is subject to the final approval of the Office of Financial Regulation and the entry of the Final Order adopting such Agreement. In the event that the Final Order is not entered, this Stipulation and Consent Agreement shall be null and void. The Final Order incorporating this Stipulation and Consent Agreement constitutes final action by the Office for which the Office may seek enforcement pursuant to the provisions of chapters 520 and 120, Florida Statutes.
6. Waiver. By Petitioners' consent to the entry of a Final Order with respect to this
proceeding, Petitioners waive:
a) Any right to separately stated Findings of Fact and Conclusions of Law; b) Any right to receipt of a Notice of Rights pursuant to chapter 120, Florida Statutes; c) Any right to an administrative hearing or issuance of a Recommended Order pursuant to chapter 120, Florida Statutes; and

d) Any right to contest in any administrative forum or judicial proceeding (including, but not limited to, an appeal pursuant to section 120.68, Florida Statutes) the validity of any term, condition, obligation, or duty expressly created in this Stipulation and Consent Agreement and the Final Order.
7. Releases. Upon full execution of this Stipulation and Consent Agreement,
Petitioners waive, release and forever discharge the Office and its agents, representatives and employees from any and all causes of action, in law or in equity, which Petitioners may have arising out of this matter. The Office accepts this release and waiver by Petitioners on behalf of itself, its agents, representatives, and employees without acknowledging, and expressly denying, that any such right or cause of action may exist.
8. Failure to Com plv. Petitioners acknowledge, concur, and stipulate that Petitioners'
failure to comply with any of the terms, obligations and conditions of this Stipulation and Consent Agreement, and the Final Order adopting it, is a violation of the written agreement and the Final Order entered pursuant to chapters 120 and 520, Florida Statutes. Such non-compliance may result in the issuance of an emergency cease and desist order. However, nothing herein shall be construed to limit Petitioners' right to contest any finding or determination of non-compliance.
9. Attorney's Fees. Each party herein shall be solely responsible for its separate costs
and attorney's fees incurred in the prosecution, defense, or negotiations in this matter up to and including the entry of the Final Order adopting this Stipulation and Consent Agreement.
10. Severability. The parties agree that if any provision of this Stipulation and Consent
Agreement or the application thereof to any person or circumstance is held invalid, the Stipulation and Consent Agreement will be given effect without the invalid provision, and to this end, the provisions of this Stipulation and Consent Agreement are declared severable.

11. Counterparts. This Stipulation and Consent Agreement may be executed in any
    number of counterparts, and by the parties in separate counterparts, each of which will be deemed to be an original but all of which together will constitute but one Stipulation and Consent Agreement. Copies of this Stipulation and Consent Agreement transmitted by facsimile or electronic mail shall have the same validity as if bearing an original signature.
12. Entire Agreement. This Stipulation and Consent Agreement represents the entire
    agreement by and between Petitioners and the Office. Any alterations, variations, changes, modifications or waivers of the provisions hereof shall be valid only when they have been reduced to writing, duly signed by the Office and Petitioners hereto, attached to the original of this Stipulation and Consent Agreement, and subject to the approval of the Office. WHEREFORE, in consideration of the foregoing, the Office and Petitioners execute this Stipulation and Consent Agreement for entry of a Final Order on the last date executed below. [This space is intentionally left blank. Signatures to begin onfollowingpage.]

CYCLE SPRINGS POWER SPORTS, LLC:
(Signature)
Name: Peter Bose Dimmitt
State of 8 vvidfA.-.:
County of pjvu1,{'1.~
Date: --=-------, (o ff-'-/ (p-+={)---"-- /p __ Title: Officer and Thirty-Two (32) Percent Owner of Cycle Springs Power Sports, LLC Peter Bose Dimmitt, as Officer and Thirty-Two (32) Percent Owner of Cycle Springs Power Sports, LLC, BEFORE ME by means of JlJ physical presence or D online notarization, has sworn (or affinned) that he has read and understands the foregoing agreement and voluntarily signed the same. SWORN TO AND SUBSCRIBED before me this / t1"1day of ___ ~--~~-~• 2026 .
•
LB.AE.BROWN
NolaryPublJc
State" Florida c:omm#HH~
ExJ)lres 1/11/20'30
Check the appropriate box:
Personally known S
OR Produced Identification D
~ A £If,~ aryPublic
Type of identification produced D Driver's License D Passport D Other _____ _ (Do not include ID number)

CYCLE SPRINGS POWER SPORTS, LLC:
Name: Richard Roth Dimmitt
State of R ond1v
County of p;l'.'ll tla$
Title: Officer and Thirty-Six (36) Percent
Owner of Cycle Springs Power Sports. LLC
Richard Roth Dimmitt, as Officer and Thirty-Six (36) Percent Owner of Cycle Springs Power Sports, LLC, BEFORE ME by means of ~ physical presence or D online notarization, has sworn (or affirmed) that he has read and understands the foregoing agreement and voluntarily signed the same. SWORN TO AND SUBSCRIBED before me this / l, #I day of _ \fu-=-=-"-'-#'l,{_ -= __ __,, 2026. Check the appropriate box:
Personally known ~
OR Produced Identification D
Type of identification produced D Driver's License D Passport D Other _____ _ (Do not include ID number)

RICHARD ROTH DIMMITT:
~ (Signatu ~'~ Date: ? It V /}£ -~....,1--~+, --------- Name: Richard Roth Dimmitt State of Flond~ County of PlvuJl q.$ Richard Roth Dimmitt, BEFORE ME by means of B physical presence or D online notarization, has sworn (or affirmed) that he has read and understands the foregoing agreement and voluntarily signed the same. SWORN TO AND SUBSCRIBED before me this /1./fhday of __ /4A~ Jf...L ~---' 2026. LEIA I!. BROWN w ~ NomryPublk: ~ == N~ (pv~ Check the appropriate box:
Personally known~
OR Produced Identification D
Type of identification produced □
□
□
Driver's License
Passport
Other ------- (Do not include ID number)

RICHARD ROTH DIMMITT, JR.:
Date:
Name: Richard Roth Dimmitt, Jr.
State of H ott;//)._ .,
County of Pr'Ytl.JLa ~
Richard Roth Dimmitt, Jr., BEFORE ME by means of 0 physica] presence or D online notarization, has sworn (or affirmed) that he has read and understands the foregoing agreement and voluntarily signed the same. D before me this~ ay of_~/4,(~~~-- A..L • 2026. No1ll'Y Pubic Stated Flor1d• commtH~ E.~lres 1 /11/10.V:.· Check the appropriate box:
Personally known @
OR Produced Identification D
Type of identification produced D Driver's License D Passport D Other ______ _ (Do not include ID number)
•
LIi.Ai.BROWN
Notary Pubic
Statl Gf Florlcle
Commt HH75384+
ElCplres 1/11/2mO

CYCLE SPRINGS POWER SPORTS, LLC:
--~ -;;---
(Signature)
Name: Richard Roth Dimmitt, Jr.
State of Ef ov,J "-"
County of Pt'vulJ (I_{
Date: 0 / { l.o la. 0 'JW ------=----,II----'----~,~- Title: Officer and Thirty-Two (32) Percent Owner of Cycle Springs Power Sports, LLC Richard Roth Dimmitt, Jr., as Officer and Thirty• Two (32) Percent Owner of Cycle Springs Power Sports, LLC, BEFORE ME by means of ~ physical presence or O online notarization, has sworn (or affirmed) that he has read and understands the foregoing agreement and voluntarily signed the same. SWORN TO AND SUBSCRIBED before me this (((Ii. day of __ ~"--'-''-----~• 2026 .
•
I.BAE.BROWN
Notary Publlc
5Cat8offlorfda
Comml HH753844
E,q!lres 1/U/2030
Check the appropriate box:
Personally known ~
OR Produced Identification D
Type of identification produced D Driver's License D Passport D Other ______ _ (Do not include ID number)

PETER BOSE DIMMITT:
(Signature)
Name: Peter Bose Dimmitt
State of Ff Wldt,L/
County of p;VLl.,(,{ ({5
Peter Bose Dimmitt, BEFORE ME by means of i}Pphysical presence or D online notarization, has sworn ( or affirmed) that he has read and understands the foregoing agreement and voluntarily signed the same. SWORN TO AND SUBSCRIBED before me this /l/~ay of_~Vu~ _fl,L,, _ __ , 2026 .
• =~r Comm# HH753844-
Explres 1/11/203f!
Check the appropriate box:
Personally known ~
OR Produced Identification D
Type of identification produced D Driver's License D Passport 0 Other ______ _ (Do not include ID number) OFFICE OF FINANCIAL REGULATION Date: 7/10/2026 ~ o~ ,.~i~ ----------- Division of Consumer Finance