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202301947 Provided, if the legal description of the real estate is not available at the time this Lease is signed by LESSOR, then LESSOR agrees to provide the legal description of the real estate to LESSEE within 10 days of the date this Lease is signed by LESSOR. 2. Term: The term of this Lease shall be for a period of 10 years beginning on April 1, 2023. It shall then continue on a year-to-year basis unless either party shall give written notice of non -renewal at least 90 days prior to the expiration of then -current term. 3. Rent: LESSEE shall pay to LESSOR "Rent" of $3,267 per year. Rent payments shall be made in ANNUAL installments on each annual anniversary of this Lease. Rent shall be paid to the LESSOR at the address provided for above. On April 1, 2025 and every other year thereafter, annual rent will increase (if any) in the CPI - U Index occurring during the prior term. 4. Use of Real Estate: LESSEE shall use the Premises for the construction and maintenance of an outdoor advertising structure (the "Structure"), to include illuminating and posting advertising on the Structure. LESSEE, its employees and agents, shall have the right of reasonable access to and egress from the Structure from the LESSEE's real estate adjoining the Premises, to include for the provision of power, communication devices and connections to the Structure. LESSEE agrees to keep the Structure in good appearance and shall maintain the Structure in a clean and attractive condition. If the view of the Structure is obstructed or impaired, LESSEE shall have the right to remove obstructions and impairments (including the removal of trees and brush). 5. Ownership: All equipment and materials placed upon the Premises by LESSEE (to include the Structure) shall remain the property of LESSEE and may be removed by it at any time prior to or within a reasonable time after the expiration of the final term of this Lease. LESSEE shall have the right to make any necessary applications with, and obtain permits from, governmental bodies for the construction and maintenance of LESSEE'S advertising structure, at the sole discretion of LESSEE. All permits shall be and remain the property of LESSEE. LESSOR warrants and represents that LESSOR is the owner of the Premise and has the right to grant LESSEE free access to the Premises. If LESSOR is an entity, the person signing this Lease represents that they have the authority to act on behalf of LESSOR. 6. Competing Structures: LESSOR warrants that there are no current leases for outdoor advertising on the Premises or within 1,000 feet of the Premises (to the extent of LESSOR's ownership) and that LESSEE shall have the sole right to construct and maintain an outdoor advertising structure on the Premises and within 1000 feet of the Premises (to the extent of LESSOR'S ownership). In the event that there is an existing lease for outdoor advertising in violation of this paragraph and LESSOR fails to terminate any such lease, LESSEE may, at its sole option, terminate this Lease, in which case LESSOR must immediately refund to LESSEE any Rent paid in advance. 7. Insurance and Indemnification: LESSEE agrees to indemnify and hold LESSOR harmless from all claims of injury and damages to LESSOR or third parties caused by the installation and maintenance of the Structure or displays on the Structure. 8. Early Termination: During the term of this Lease, should (i) LESSEE not be able to obtain or retain any required permit(s) for the Structure, (ii) the use of the Premises for the Structure be prohibited, limited or restricted by the terms of any restriction, covenant, regulation, ordinance or zoning resolution affecting the Premises, (iii) the view of the Structure is obstructed or obscured, or (iv) in LESSEE'S determination the location is no longer economically or is otherwise undesirable, LESSEE may, at its option, terminate this Lease by giving LESSOR 90 days written notice of its election to do so. In addition, either party may terminate this Lease upon breach by the other party if the breach has not been remedied within 30 days of the defaulting party's receipt of written notice sent by certified mail, return receipt requested, to the breaching party. Upon termination, all Rent shall cease and the prorated portion of any prepaid Rent shall be refunded to LESSEE. 9. Eminent Domain: If the Premises, or any part of the Premises which impacts the Structure, is taken by eminent domain, this Lease shall terminate, at the option of LESSEE, in which case all Rent shall cease and the prorated portion of any prepaid Rent shall be refunded to LESSEE. 10. First Right for Additional Structures: In the event that LESSOR receives an offer to lease any additional portion of the real estate upon which the Premises is located for the purpose of an outdoor advertising structure, then LESSOR shall so notify LESSEE by certified mail, return receipt requested at the address provided for above. The notice shall contain the terms and conditions of the offer. LESSEE shall have 15 days from receipt of the notice to agree to match the terms of the offer and to provide to LESSOR a lease for the outdoor advertising Page 2 of 4 Lease# NE20122023