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2003118OZ
<br />THE 1 COMPANIES
<br />NEW LEASE # 1097 (INFINITY # 0321811) TO REPLACE EXISITNG SIGN STRUCTURE
<br />THIS LEASE AGREEMENT, between: Mr. Elvin R. Denman, Trustee of the Elvin R. Denman
<br />Revocable Trust dated January 21, 1997 or his successor or successors in the trust. (hereinafter referred to
<br />as "Lessor ") and THE LAMAR COMPANIES (hereinafter referred to as "Lessee ")
<br />WITNESSETH
<br />"LESSOR hereby leases to LESSEE, it successors or assigns, as much of the hereinafter
<br />described premises as may be necessary for the construction, repair and relocation of outdoor advertising
<br />structure(s), including necessary structures, advertising devices, power poles, communications devices
<br />and connections, with the right of access to and egress from structure(s) by LESSEE'S employees,
<br />contractors, agents and vehicles and the right to survey, maintain advertisement, or other activities
<br />necessary or useful in LESSEE'S use of the structure.
<br />The leased premises are a portion of the property located in the County/Parish of Hall, State of
<br />Nebraska, more particularly described as: The location on the lessor's land, of lessee's present sign
<br />structure lease #1097, being 1 mile north of I -80 on the east side of 281, mile marker 227.2
<br />1. This lease shall be for a term of Ten (10) years,( Dec. 1, 2003 to Dec. 1, 2013) commencing
<br />on the date of completion of the new advertising structure, current lease terms will remain in full force
<br />until completion of new structure, unless sooner terniinated as hereinafter provided. After the original or
<br />r-any renewal term leave, it shall continue from year to year unless either party shall give the other
<br />party written notice of nonrencwal at least Sixty (30) days prior to the expiration of the then - current term.
<br />2. LESSEE shalt pay to LESSOR an annual rental of $1,200.00 dollars for years 1 -5 and
<br />'$1,300.00 years 6 -10, to be paid annually, in advance, the first installment due on the first day of the
<br />month following commencement.
<br />3. LESSOR agrees not to erect or allow any other off - premises advertising structures on
<br />property owned or controlled by LESSOR within One Thousand (1000') Feet of LESSEE'S advertising
<br />structure(s) or to erect or allow any other obstruction of highway view or any vegetation that may obstruct
<br />the highway view of its advertising structure(s). LESSEE is hereby authorized to remove any such other
<br />advertising structure, obstruction or vegetation at its option.
<br />4. LESSEE may terminate this lease upon giving Thirty (30) days written notice in the event that
<br />the advertising structure becomes entirely or partially obstructed in any way or in LESSEE'S opinion the
<br />location becomes economically or otherwise undesirable. If LESSEE is prevented from constructing
<br />advertisink structure(s) at the leased premises by reason of Any-fina.lgovernmental_law, regulation, order
<br />or other action, this lease will terminate immediately. In the event of termination of this lease prior to
<br />expiration, LESSOR will return to LESSEE any unearned rentals on a pro rata basis.
<br />5. All structures, equipment and materials placed upon the premises by the LESSEE shall
<br />remain the property of LESSEE and may be removed by it at any time prior to or within a reasonable
<br />time after expiration of the term hereof or any extension. At the termination of this lease, LESSEE
<br />agrees to restore the surface of the leased premises to its original condition. The LESSEE shall have the
<br />right to make any necessary applications ,with, and obtain permits from, governmental bodies for the
<br />construction and maintenance of LESSEE'S advertising structure(s), at the sole discretion of LESSEE.
<br />All such permits shall be the property of LESSEE.
<br />6. LESSOR represents that he is the Owner of the premises described above and has the right to
<br />grant LESSEE free access to the premises to perform all acts necessary to carry on LESSEE'S business.
<br />In the event of any change of ownership of the property hereby leased. In the event that LESSEE assigns
<br />this lease, assignee will be fully obligated under this lease and LESSEE will no longer be bound by the
<br />lease.
<br />7. The premises are not the homestead of the LESSOR.
<br />8. In the event of condemnation of the subject premises or any part thereof by proper authorities,
<br />or relocation of the highway, the LESSOR grants to the LESSEE the right to relocate its structure(s) on
<br />LESSOR'S remaining property adjoining the condemned property or the relocated highway. Any
<br />condemnation award for LESSEE'S property shall accrue to LESSEE.
<br />9. LESSEE agrees to indemnify LESSOR from all claims of injury and damages to LESSOR or
<br />third parties caused by the installation, maintenance, or dismantling of any advertising structures or
<br />displays during the term of this lease and to repair any damage to the leased premises resulting from the
<br />installation, maintenance, or dismantling of such advertising structures or displays, less ordinary wear and
<br />tear.
<br />10. LESSOR agrees to indemnify LESSEE from any and all damages, liability costs and
<br />expenses, including attorney's fees, resulting from any inaccuracy in or nonfulfillment of any
<br />representation, warranty or obligation of LESSOR herein.
<br />11. In the event of a sale or development of a portion of Lessor's property, which
<br />includes property leased hereunder and Lessee's portion is to be improved by permanent
<br />construction as evidenced by a building permit, requiring removal of the Lessee's structure,
<br />Lessor may terminate this lease upon giving (90) days written notice of termination, together
<br />with a rebate of all unearned rent and proof of sale or development by legitimate building permit.
<br />Lessor cannot cancel when the property is to be acquired by any public or private authority with
<br />the power of eminent domain. If the property is acquired by an authority with right of eminent
<br />domain, the authority shall have no right to cancel this agreement.
<br />12. This lease is NOT BINDING UNTIL ACCEPTED by the General Manager of a
<br />Lamar Advertising Company.
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