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Lease covering premises known as Nos. 319-321-323 West 3rd Street, Grand
<br /> Island, Nebraska.
<br /> PARTIES. THIS INDENTURE OF LEASE, made and entered into this 17th day of
<br /> March 1954, by and between
<br /> WEST THIRD DEVELOPMENT COMPANY, a corporation existing
<br /> under the.laws of the State of Nebraska, with offices
<br /> in First National Bank Building, Grand Island, Nebraska,
<br /> of the City of Grand Island, County of Hall, and State of Nebraska,
<br /> hereinafter called the "Landlord", and
<br /> J. C. PENNEY COMPANY, a corporation existing under the
<br /> laws of the State of Delaware,
<br /> with offices at No. 330 West 34th Street, New York 1, N. Y., hereinafter
<br /> called the"Tenant",
<br /> WITNESSETH:
<br /> PREMISES. That the Landlord does hereby demise and lease unto the
<br /> Tenant the premises situated in the City of Grand Island, County of Hall, and
<br /> State of Nebraska, known and described as follows, to wit:
<br /> All of Lot Four (4) in Block Sixty Four (64),
<br /> Original Town (now_City) of Grand Island,
<br /> Nebraska, together with.that certain two (2)
<br /> story, balcony and basement building to be
<br /> erected thereon by Landlord, as hereinafter
<br /> described.
<br /> TERM. TO HAVE AND TO HOLD the said premises, together with all and
<br /> singular the improvements, appurtenances, rights, privileges and easements
<br /> thereunto belonging or in anywise appertaining,unto the said Tenant from the
<br /> first (1st) day of May, A. D. 1955, to and including the thirtieth (30th) day
<br /> of April, A. D. 1975, a term of twenty (20) years.
<br /> NEW BUILDING. Landlord shall, at Landlord's own cost and expense, raze
<br /> any existing improvements on the land demised hereunder and erect and
<br /> complete, as a part of the herein demised premises, on or before the
<br /> commencement date of the term hereof, a new building to cover all of the land
<br /> demised herein as required by the Tenant for the operation of its business
<br /> therein. The said new building shall be erected in a manner to overcome all
<br /> conditions relative to soil-and water, and to comply with all the statutes,
<br /> ordinances and other regulations and requirements of all authorities having
<br /> jurisdiction of the work in connection with the construction of said
<br /> building, and Landlord shall procure all the building and other permits or
<br /> licenses which shall be required. The said building shall be erected in
<br /> accordance with those certain plans and specifications to be furnished in
<br /> triplicate by Landlord and approved by Tenant covering a new two (2) story,
<br /> balcony and basement building to be of concrete with bar-joist construction,
<br /> • the ground floor to measure approximately sixty-six feet (66') in width by
<br /> one hundred thirty two feet (132!) in depth; the balcony to measure
<br /> approximately sixty-six feet in width by forty-eight feet (48') in depth; the
<br />• basement and second floor to each measure approximately sixty-six feet (66')
<br /> in width by one hundred thirty two feet (132') in depth; the said building to
<br /> be equipped with heating and air conditioning, and to have an office balcony
<br /> across the front of said building. Tenant shall furnish its own lighting
<br /> fixtures, but such lighting fixtures shall be hung at Landlord's expense.
<br /> The plans and specifications to be furnished by Landlord for Tenant's approval
<br /> shall be substantially in accordance with those certain preliminary plane
<br /> which are identified as follows:
<br /> Plans dated December 1, -1953, marked "Retail Store Building for the
<br /> J. C. Penney Co. Inc., Grand Island, Nebraska, S. N. Wolbach, Owner, L. A.
<br /> Melkus, Architect, Geer-Maurer Const. Co., Contractor", consisting of:
<br /> Fi vi. (c �>
<br /> J.C. PENEY a. Architectural Plans consisting of sheets.
<br /> b. Structural Plans consisting of three •(3) sheets. Pt‘
<br /> Bit✓/ o. Plumbing Plans consisting of one (1) sheet;
<br /> BY the aforementioned preliminary plans having already been approved by Tenant
<br /> with the exceptions noted in red pencil thereon and further noted in that
<br /> 1.
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