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THE
<br />Lamar Co # 243 RENEWAL LEASE 54076-01
<br />This Instrument Prepared by:
<br />James R. McIlwain
<br />5551 Corporate Boulevard
<br />Baton Rouge, Louisiana 70808
<br />James R. Mcllwain
<br />COMPANIES
<br />20210564$
<br />SIGN LOCATION LEASE
<br />THIS LEASE AGREEMENT, made this it day of ( , 20 el , by and between:
<br />MEAD LUMBER REAL ESTATE, LLC.
<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 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, more particularly described
<br />as: The space presently occupied by the existing Lamar sign structure on LESSOR'S property known as Hwy. 281,
<br />north of Stolley Park Road. Lamar sign covered by State permit 428100687EA
<br />1. This Lease shall be for a term of Ten (10) years commencing on October 1, 2021 and ending on September 30, 2031
<br />2. LESSEE shall pay to LESSOR an annual rental, to be paid in advance, according to the following schedule:
<br />Years 1-5 $2500.00 to be paid monthly in advance at $208.33 per month
<br />Years 6-10 $2750.00 to be paid monthly in advance at $229.17 per month
<br />LESSEE may renew this Lease, for an additional term, of equal length, on the same terms and conditions. Said
<br />renewal term shall automatically go into effect unless, either party gives, written notice of non -renewal at least sixty (60) days
<br />prior to the expiration of the original term. Any additional term will include an increase in lease rent of 10% every 5 years.
<br />Rent shall be considered tendered upon due mailing or attempted hand delivery during reasonable business hours at the address
<br />designated by LESSOR, whether or not actually received by LESSOR. Should LESSEE fail to pay rent or perform any other
<br />obligation under this lease within thirty (30) days after such performance is due, LESSEE will be in default under the lease. In
<br />the event of such default, LESSOR must give LESSEE written notice by certified mail and allow LESSEE thirty (30) days
<br />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 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. If LESSEE is prevented from constructing or maintaining a sign at the premises by
<br />reason of any final governmental law, regulation, subdivision or building restriction, order or other action, LESSEE may elect
<br />to terminate this lease. In the event of termination of this Lease prior to expiration, LESSOR will return to LESSEE any
<br />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 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.
<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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