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<br />THE
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<br />
<br />This Instrument Prepared by: NEW LEASE ~1Il000 91
<br />James R. McIlwain 55 co'B - 0 "L
<br />5551 Corporate Boulevard
<br />Baton Rouge, Louisiana 70808
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<br />200801841
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<br />~r/.V /?;/U~~
<br />
<br />James R. McIlwain
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<br />SIGN LOCATION LEASE
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<br />THIS LEASE AGREEMENT, made this ';;;}.~ ~ day of N -~ (....
<br />PARK OF GRAND ISLAND
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<br />, 20~ <.:. , by and between: COLLEGE
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<br />(hereinafter referred to as "Lessor") and mE LAMAR COMPANIES (hereinafter referred to as "Lessee"), provides
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<br />WITNESSETH
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<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.
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<br />The premises are a portion of the property located in the CountylParish of HALL State of NEBRASKA, more particularly
<br />described as: 3180 West Hwy. 34, approximately 800 ft. north of the NE comer of the Hwy~ ~4/281 i~unction in See. 29,
<br />Township 11, Range 9 . Pr. ':.w/'1 ~w It..(
<br />-ST'I'\ R. T. N~u. \J 2ec7 'i,io..) D OCT J " ~ '2. 7
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<br />1. This Lease shall be for a term of TWENTY years, commencing upon the completion of a monopole sign stmcture,
<br />with back to back 10'6" x 22~9" sign faces. This lease contingent on a land rezoning from R.O to B.2
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<br />LESSEE may renew this Lease, for an additional term, of equal length, with ~increases to the rent every 5 year
<br />term Said renewal teon shall automatically go into effect unless either party shall give written notice of non-renewal at least
<br />sixty (60) days prior to the expiration of the original term.
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<br />2. LESSEE shall pay to LESSOR an annual rental to be paid annually in advance according to the following
<br />schedule: YEARS 1-5 $2,000.00 per year, paid annually in advance
<br />YEARS 6-10 $2,250.00 ~ ~
<br />YEARS 11-15 $2,500.00 " "
<br />YEARS 16-20 $2,750.00 ~ "
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<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.
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<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 two thousand (2000) feet of LESSEE'S sign. LESSOR further agrees not
<br />to erect or allow any other obstruction of highway view or any vegetation that may obstruct the highway view of its sign.
<br />LESSEE is hereby authorized to remove any such other advertising structure, obstruction or vegetation at its option.
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<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 or in LESSEE'S opinion the location becomes economically or otherwise
<br />undesimble. If LESSEE is prevented from constructing or maintaining a sign at the premises by reason of any final
<br />governmentiI taw, regulation, subdiviSIon or building restriction, order or other action, LESSEE may elect to terminate this
<br />lease. In the event of termination of this Lease prior to expiration, LESSOR will return to LESSEE any unearned rentals on a
<br />pro rata basis.
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<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.
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<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 carry on LESSEE'S business
<br />activities related to the sign. LESSOR is not aware of any unrecorded rights, servitudes, easements, subdivision or building
<br />restrictions, or agreements affecting the premises that prohibit the erection, posting, painting, illumination or maintenance of
<br />the sign LESSOR acknowledges that the terms and conditions of this agreement are confidential and proprietary and shall not
<br />be disclosed to any third-party without the written consent of LESSEE.
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