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<br />Lamar Co # 421-01 RENEWAL LEASE
<br />This Instrument Prepared by:
<br />James R. McIlwain
<br />5551 Corporate Boulevard
<br />Baton Rouge, Louisiana 70808
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<br />James R . McIlwain SIGN LOCATION LEASE
<br />20120472G
<br />THIS LEASE AGREEMENT, made this � day of �u /� )� , 20 1 Z , by and between:
<br />EARNEST FARMS INC.
<br />(hereinafter referred to as "Lessor") and THE LAMAR COMPANIES (hereinafter referred to as "Lessee"), provides
<br />WITNESSETH
<br />"LESSOR hereby leases to LESSEE, it successors or assigns, as much of the hereinafter described lease premises as
<br />may be necessary for the construction, repair and relocation of an outdoor advertising structure ("sign"), including necessary
<br />structures, advertising devices, utility service, power poles, communications devices and connections, with the right of access
<br />to and egress from the sign by LESSEE'S employees, contractors, agents and vehicles and the right to survey, post, illuminate
<br />and maintain advertisemenfs on the sign, and to modify the sign to have as many advertising faces, including changeable copy
<br />faces or electronic faces, as are allowed by loca� and state law, and to maintain telecommunications devices or other activities
<br />necessary or useful in LESSEE'S use of the sign. Any discrepancies or errors in the location and orientation of the sign are
<br />deemed waived by LESSOR upon LESSOR'S acceptance of the first rental payment due after the construction of the sign.
<br />The premises are a�ottion of the property located in the County/Parish of HALL State of NEBRASKA, more particularly
<br />described as: The s�a�s necessary for the LESSEES existing sign on the LESSORS property on I-80 on t6e north side of
<br />the Hwy. at mm 297.5 Lamar sign is covered by State permit 408002975NA
<br />1. This Lease renewal shall be for a term of TWENTY (ZO) years commencing APRIL 1, 2012 and ending
<br />March 31, 20"3 � �
<br />LESSEE shall pay to LESSOR an annual rental to be paid according to the following schedule:
<br />YEARS 1-10 $1250.00 per year, paid annually in advance
<br />YEARS 11-20 $1500.00 per year, paid annually in advance
<br />At the end of the initial term this lease will rollover on a year by year basis, on the same tertns and conditions. Said renewal
<br />term shall automatically go into effect unless either party gives written notice of non-renewal at least sixty (60) days prior to
<br />the expiration of the original term.
<br />Rent shall be considered tendered upon due mailing or attempted hand delivery during reasonable business hours at the
<br />address designated by LESSOR, whether or not actually received by LESSOR. Should LESSEE fail to pay rent or perform
<br />any other obligation under this lease within thirty (30) days after such performance is due, LESSEE will be in default under
<br />the lease. In the event of such default, LESSOR must give LESSEE written notice by certified mail, and allow LESSEE
<br />thirty (30) days thereafter to cure any default.
<br />3. LESSOR agrees not to erect or allow any other off-premise advertising structure(s), other than LESSEE'S, on
<br />property owned or controlled by LESSOR. LESSOR further agees not to erect or allow any other obstruction of highway
<br />view or any vegetation that may obstruct the highway view of LESSEE'S sign. LESSEE is hereby authorized to remove any
<br />such other advertising structure, obstruction or vegetation at LESSEE'S option.
<br />4. LESSEE may terminate this lease for any reason upon giving a 45 day written notice. If LESSEE is prevented from
<br />constructing or maintaining a sign at the premises by reason of any final governmental law, regulation, subdivision or building
<br />restriction, order or other action, LESSEE may elect to terminate this lease. In the event of terminarion of this Lease prior to
<br />expiration, LESSOR will return to LESSEE any unearned rentals on a pro rata basis.
<br />5. All structures, equipment and materials placed upon the premises by the LESSEE or its predecessor shall remain the
<br />property of LESSEE and must be removed by LESSEE at any time prior to or within a reasonable time after expiration of the
<br />term hereof or any renewal. At the termination of this lease, LESSEE agrees to restore the surface of the premises to its
<br />original condition. The LESSEE shall have the right to make any necessary applications with, and obtain permits from,
<br />governmental bodies for the construction and maintenance of LESSEE'S sign, at the sole discretion of LESSEE. All such
<br />permits and any nonconforming rights pertaining to the premises shall be the properiy of LESSEE.
<br />6. LESSOR represents that he is the owner or lessee under written lease of the premises and has the right to make this
<br />agreement and to grant LESSEE free access to the premises to perform all acts necessary to exercise its rights pursuant to this
<br />lease. LESSOR is not aware of any unrecorded rights, servitudes, easements, subdivision or building restrictions, or
<br />agreements affecting the premises that prohibit the erection, posting, painting, illumination or maintenance of the sign.
<br />LESSOR acknowledges that the terms and conditions of this agreement are confidential and proprietary and shall not be
<br />disclosed to any third-party without the written consent of LESSEE.
<br />7. In the event of any change of ownership of the property herein leased, LESSOR agrees to notify LESSEE promptly
<br />of the name, address, and phone number of the new owner, and LESSOR further agrees to give the new owner formal written
<br />notice of the existence of this lease and to deliver a copy thereof to such new owner at or before closing. In the event that
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