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NEW LEASE 55054 -01
<br />This Instrument Prepared by:
<br />James R. Mcllwain
<br />5551 Corporate Boulevard
<br />Baton Rouge, Louisiana 70808
<br />James R. Mcllwain
<br />THE
<br />LAMA l2
<br />COMPANIES
<br />SIGN LOCATION LEASE
<br />THIS LEASE AGREEMENT, made this / 7 r � day of V/ , 20 / 7 by and between:
<br />ANDERSON FORD
<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 may be
<br />necessary for the construction, repair and relocation of an outdoor advertising structure ( "sign "), including necessary structures,
<br />advertising devices, utility service, power poles, communications devices and connections, with the right of access to and
<br />egress from the sign by LESSEE'S employees, contractors, agents and vehicles and the right to survey, post, illuminate and
<br />maintain advertisements 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 local and state law, and to maintain telecommunications devices or other activities
<br />necessary or useful in LESSEE'S use of the sign.
<br />The premises are a portion of the property located in the County/Parish of HALL, State of NEBRASKA
<br />The space necessary for a new Lamar sign at 120 Diers (,t kA) 26(3 O tsiR
<br />i..$.GAL < c'o wcw.o n k,£,4, LT) &5,A55 PA 2l! Eou j fl4 S l o o / 01= Lo
<br />New 30' in height, single pole sign with 11' x 23' back to back poster faces, with north face � 3
<br />being a digital
<br />panel to replace existing stacked off- premise sign covered by Lamar lease 54060 -1 Sign to be located at very
<br />Northeast corner of lot with necessary setbacks required by City and State regulations.
<br />Note: LESSOR will be given two poster panels from existing stacked sign for their on- premise sign use.
<br />Installation of said signs on Lessor's on- premise structure is responsibility of the lessor.
<br />1 .This Lease shall be for a term of TWENTY (20) years commencing July 1, 2017 and ending June 30, 2037
<br />At the end of the initial term this lease will rollover on a year by year basis, on the same terms 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 />2. Payment Schedule years 1 -20
<br />YEARS 1 -20 $10,000.00 per year, paid yearly in advance, or 15% of revenue whichever is greater.
<br />A yearly base payment of $10,000.00 will be made, for the year in advance, starting July 1, 2017. On the following
<br />yearly anniversaries the landowner will be supplied with a billing summary of the digital sign face revenue, on the
<br />structure, for the prior 12 month period. If 15% of gross revenue is greater than the base payment, the difference will
<br />be paid within 15 days of the anniversary date. Payments to continue as such throughout the Twenty -year term of the
<br />lease.
<br />Should LESSEE fail to pay rent or perform any other obligation under this lease within thirty (30) days after such performance
<br />is due, LESSEE will be in default-under the lease. In the event of such default, LESSOR must give LESSEE written notice
<br />by certified mail and allow LESSEE thirty (30) days thereafter to cure any default.
<br />201704537
<br />3:, - - LESSOR- agrees' norto erect or allow any other obstruction of highway view or any vegetation that may obstruct the
<br />highway view of LESSEE'S sign. LESSEE is hereby authorized to remove any such other vegetation at LESSEE'S option.
<br />4. If LESSEE is prevented from constructing or maintaining a sign at the premises by reason of any final governmental
<br />law, regulation, subdivision or building restriction, order or other action, LESSEE may elect to terminate this lease. In the
<br />event of termination of this Lease prior to expiration, LESSOR will return to LESSEE any unearned rentals on a pro rata
<br />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 may 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 property of LESSEE.
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