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This Document Prepared By: ALLTEL Communications, Inc. One Allied Drive, P.O. Box 2177 Little Rock, AR 72202 Attn: Property Management Department 20040592 MEMORANDUM OF LEASE (WITH RIGHT OF FIRST REFUSAL) This Memorandum of Lease ( "Memorandum ") is executed this 7 #,'"day of , 2004 by and between Rockford Properties Limited Partnership, ( "Owner ") and ALLTEL Communications of Nebraska, Inc. ( "Tenant ") and evidences that on the3K day of r4ra 20(, a Communications Site Lease Agreement was executed for the Property as that term Is hereinafter defined. 1. Lease Term. The Initial Term of the Lease shall be five (5) years commencing on the -1 day of AJgW 20 and terminating at midnight on the day of , 200M. Tenant has the right to extend the Lease for four (4 ) additional five (5) year terms. 2. Property. Subject to the terms of the Lease, Owner has leased to Tenant the use of a portion of the real property described in Exhibit "A" attached hereto ( "Property"), and Owner has granted Tenant an easement for ingress, egress and utilities over that property described in Exhibit `B" attached hereto ( "Easement "). 3. Notices. All notices, requests, demands, and other communications to the Owner or Tenant shall be made at the following addresses: If to Owner, to: Rockford Properties Attn: Russ Merrick 106 Apollo Avenue Alda, NE 68810 800 -568 -7423 47- 0675511 Tax Identification No. If to Tenant, to: ALLTEL Communications of Nebraska, Inc. c/o ALLTEL Communications, Inc. P.O. Box 2177 Little Rock, AR 72203 -2177 Attn: Property Management Dept. 4. Right of First Refusal. During the Initial Term and any Renewal Term of this Agreement, Owner shall, prior to selling the Property or any portion thereof, notify Tenant in writing of the sale price and terms offered by a third party, together with a copy of the third party's offer. Tenant shall have the right of first refusal to purchase the Property, or that portion of the Property to be sold, on the same terms and conditions (or case equivalent terms, if a property exchange is proposed) by giving Owner notice of its intention to purchase the same within thirty (30) days of receipt of Owner's notice. If Tenant gives no such notice of its intention to purchase the Property, Owner may sell the Property, or the portion to be sold, to the third party on the stated terms and price, as long as such sale closes within six (6) months of the date of the third party's offer and said sale is made subject to the terms of this Agreement. Aida, NE Rockford Properties