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THE VA " COMPANIES 200315203 RENEWAL LEASE #1090 THIS LEASE AGREEMENT, between: Darryl Bockmann (hereinafter referred to as "Lessor') and THE LAMAR COMPANIES (hereinafter referred to as "Lessee ") WITNESSETH "LESSOR hereby. leases to LESSEE, it successors or assigns, as much of the hereinafter described premises as may be necessary for the construction, repair and relocation of (1) One outdoor advertising structure with back to back faces, including necessary structures, advertising devices, power poles, communications devices and connections, with the right of access to and egress from structure by LESSEE'S employees, contractors, agents and vehicles and the right to survey, maintain advertisement, maintain telecommunications devices or other activities necessary or useful in LESSEE'S use of the structure. The leased premises are a portion of the property located in the County/Parish of Hall State of Nebraska, more particularly described as: The space currently occupied by the Lessee's sign on the Lessor's land at mile marker 227. 3 approx. 6 /10s mile north of Interstate 80, on the west side of Highway 281 1. This lease shall be for a term of Ten (10) years commencing on March 31, 2004 or the date of completion of the new advertising structure, unless sooner terminated as hereinafter provided. After the original or any renewal term of this lease, it shall continue from year to year unless either party shall give the other party written notice of nonrenewal at least Thirty (30) days prior to the expiration of the then - current term. 2. LESSEE shall pay to LESSOR an annual rental (See Schedule Below) to be paid annually, in advance, with the first installment due on the first day of the month following commencement. Years 1 -10 S 1200.00 per year, paid annually in advance Payments based upon replacing the existing sign with a new Lamar back to back sign structure 3. LESSOR agrees not to erect or allow any other off - premises advertising structures on property owned or controlled by LESSOR within One Thousand (1000) Feet of LESSEE'S advertising structure or to erect or allow any other obstruction of highway view or any vegetation that may obstruct the highway view of its advertising structure. LESSEE is hereby authorized to remove any such other advertising structure, obstruction or vegetation at its option. 4. LESSEE may terminate this lease upon giving One Hundred (180) days written notice in the event that the advertising structure becomes entirely or partially obstructed in any way or in LESSEE'S opinion the location becomes economically or otherwise undesirable. If LESSEE is prevented from constructing advertising structure at the leased premises by reason of any final governmental law, regulation, order or other action, this lease will terminate immediately. In the event of termination of this lease prior to expiration, LESSOR will return to LESSEE any unearned rentals on a pro rata basis. 5. All structures, equipment and materials placed upon the premises by the LESSEE shall remain the property of LESSEE and may be removed by it at any time prior to or within a reasonable time after expiration of the term hereof or any extension. At the termination of this lease, LESSEE agrees to restore the surface of the leased premises to its original condition. The 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 such permits shall be the property of LESSEE. 6. LESSOR represents that he is the Owner of the premises described above and has the right to uant LE - s to the premises to perform all acts necessary to carry on LESSEE'S business. .the t;1t� c ge of ownership of the property hereby leased, LESSOR agrees to grant ''t;E sofr sal to purchase the real property, said right to be exercised by Lessee no later f3Q)'i3ays'" er said change. In the event that LESSEE assigns this lease, assignee will be fully obligated under this lease and LESSEE will no longer be bound by the lease. 7. The premises are not the homestead of the LESSOR. 8. In the event of condemnation of the subject premises or any part thereof by proper authorities, or relocation of the highway, the LESSOR grants to the LESSEE the right to relocate its structure on LESSOR'S remaining property adjoining the condemned property or the relocated highway. Any condemnation award for LESSEE'S property shall accrue to LESSEE. 9. LESSEE agrees to indemnify LESSOR from all claims of injury and damages to LESSOR or third parties caused by the installation, maintenance, or dismantling of any advertising structures or displays during the term of this lease and to repair any damage to the leased premises resulting from the installation, maintenance, or dismantling of such advertising structures or displays, less ordinary wear and tear. 10. LESSOR agrees to indemnify LESSEE from any and all damages, liability costs and expenses, including attorney's fees, resulting from any inaccuracy in or nonfulfillment of any representation, warranty or obligation of LESSOR herein. 1/95