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Lamar Co # 243 RENEWAL 54154 -01
<br />This Instrument Prepared by:
<br />James R. Mcllwain
<br />5321 Corporate Boulevard
<br />Baton Rouge, Louisiana 70808
<br />James R. Mcllwain
<br />THE
<br />A-.1 A
<br />SIGN LOCATION LEASE
<br />THIS LEASE AGREEMENT, made this 6 day of L L-'4 , 20 i "7 , by and between:
<br />DAYS INN (hereinafter referred to as "Lessor ") and THE LAMAR COMPANIES (hereinafter referred to as "Lessee "),
<br />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. 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 portion of the property located in the County of HALL , State of Nebraska, this lease is for the space
<br />necessary for the existing LESSEE'S off - premise sign structure Lessor's property more particularly described as: 2620 DIERS
<br />AVE. GRAND ISLAND NE SIGN COVERED BY STATE PERMIT #428100717WA
<br />L. S6- L•. i3OS SE/kin N S)gOtVIS BLOC Q C. T $ CGQANDISLANO, “iict..CcQN !\t2
<br />1. This lease shall be for a term of (Ten) 10 years commencing July 1, 2017 and ending June 30, 2027 Following
<br />the original term this lease will be extended on a year by year basis unless either party gives written notice of
<br />nonrenewal at least 60 days prior to the end of the original term.
<br />2. LESSEE shall pay to LESSOR according to the following schedule:
<br />YEARS 1 -5 $2500.00 per year, paid yearly in advance
<br />YEARS 6 -10 $2750.00 per year, paid yearly in advance
<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 e - , • • • - lt, LESSOR must give LESSEE written notice by certified mail and allow LESSEE thirty
<br />lt.
<br />3 ►•� = ;,:' . - �" - : ect or allow any other off - premise advertising structure(s), other than LESSEE'S, on
<br />property owned or controlled by LESSOR within one thousand (1000) feet of LESSEE'S sign. LESSOR further agrees not to
<br />erect or allow any other obstruction of highway view or any vegetation that may obstruct the highway view of LESSEE'S
<br />sign. LESSEE is hereby authorized to remove any such other advertising structure, obstruction or vegetation at LESSEE'S
<br />option.
<br />4. LESSEE may terminate this lease upon giving thirty (30) days written notice in the event that the sign becomes
<br />entirely or partially obstructed in any way or in LESSEE'S opinion the location becomes economically or otherwise
<br />undesirable. If LESSEE is prevented from constructing or maintaining a sign at the premises by reason of any final
<br />governmental law, regulation, subdivision or building restriction, order or other action, LESSEE may elect to terminate this
<br />lease. In the event of termination of this Lease prior to expiration, LESSOR will return to LESSEE any unearned rentals on a
<br />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 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 />ori• • • ' '' - shall have the right to make any necessary applications with, and obtain permits from,
<br />ction and maintenance of LESSEE'S sign, at the sole discretion of LESSEE. All such
<br />is pertaining to the premises shall be the property of LESSEE.
<br />COMPANIES
<br />201704688
<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 recorded or unrecorded rights, servitudes, easements, subdivision or building restrictions,
<br />or 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.
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