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1.6L9061.0Z nn 2 D rn N_ Cn GO is C> --i 0i) ;> i N c -D --i r n _, O y —1 --c G) CD r CO --i — a: rri c' r- > C7) c a r- CO ry v r i N v F"'a' c, C) r' N C ✓Aeturn to: Roger G. Steele, 1043 South Locust Street, PO Box 5104, Grand Island, NE 68802 Lease Agreement This Lease is by and between Connie L. Frandson, hereinafter known as "Lessor", and the Grand Island Public Schools (GIPS), hereinafter known as "Lessee". 1. Land. Lessor hereby leases, subject to the terms, covenants and conditions set forth in this Lease, to the Lessee, the Land as generally described below (hereinafter "Demised Land"), which consists of 450' sq. ft. (square feet) of land shown on the map attached hereto as Exhibit A, which is hereby incorporated into this Lease. Lessor warrants and represents that it is the owner of the Demised Land. The Demised Land is described as follows: The West three feet (3') of the Easterly six feet (6') of Lot 33, Hagges' Subdivision to the City of Grand Island, NE, Hall County, Nebraska 2. Term and Termination. 2.1 The term of this Lease shall be for a period of 99 years, commencing on July 1st, 2019 (hereinafter the "Commencement Date") and ending on July 1st, 2118 (hereinafter the "Expiration Date") unless sooner terminated as hereinafter provided. This Lease shall in no case become effective until all required signatures have been obtained. If Lessee occupies said Demised Land prior to the Commencement Date, rental will commence at time of said occupancy. Regardless of any change in the Commencement Date due to early occupancy by Lessee, the Expiration Date shall remain fixed as stated above. 2.2 It is agreed that if the Lessor and the Lessee shall have fully complied with all the terms of this lease, the Lessee at the expiration of the original term of the Lease shall have the right to extend this Lease for a period of up to 20 years. The extension shall be on the same terms and conditions as those set forth for the original term in this lease. The Lessee shall notify Lessor in writing of its intent to exercise such right within One year of the end of the original Lease. 2.3 If Lessee, with or without Lessor's consent, remains in possession of the Demised Land or any part thereof after the expiration of the term or executed options hereof, such occupancy shall be a tenancy from month-to-month upon all the provisions of this Lease. 2.4 The Demised Land shall be used for the sole use of a concrete parking lot. Lessee is required to maintain the lot, fencing and/or grass and landscape areas. If Lessee at any time thereafter Page 1 of 3 ENTERED AS INSTRUMENT NO