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<br />MEMORANDUM OF LEASE
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<br />200806709
<br />
<br />THIS MEMORANDUM OF LEASE dated as of the 16th day ofJuly 2007, by and
<br />between Grand Island Commercial Ventures L.L.C., as "Landlord," and Orscheln Farm and
<br />Home LLC, as "Tenant."
<br />
<br />WITNESSETH:
<br />
<br />WHEREAS, Landlord and Tenant have executed and delivered a certain lease (the
<br />"Lease") dated as of December 20, 2002, covering certain premises (the "Leased Premises")
<br />located at 515 South Webb Road, Grand Island, Hall County, Nebraska, and generally described
<br />as the "Leased Premises" in the Lease and further described in the Lease. The Leased Premises
<br />contain approximately 34,413 square feet, not includingTenant's various outdoor selling and
<br />display areas set forth in the Lease.
<br />
<br />The Leased Premises are a part of a building situated on certain land in Grand Island,
<br />Hall County, Nebraska legally described in an attachment hereto (the "Shopping Center").
<br />
<br />The Initial Term ofth~ Lease shllllbefor a pel'iod often (lO)yearsand shall commence
<br />February 16,2003 (the "'J'er....Comll1en~ement Date") and shall end at 12:01 a.m. on February
<br />16, 20 13(the "Expiration Date"), unless Tenant exercises any of three (3) options to renew the
<br />Lease for additional successive period(s) offive (5) years each.
<br />
<br />The Lease provides, among other things, that except for this Lease, with respect to the
<br />Shopping Center and any other real property which hereafter Landlord may add to or develop in
<br />common with the Shopping Center, Landlord shall not use any premises situated in the Shopping
<br />Center, or permit the use of any premises situated in the. Shopping Center or enter into a lease
<br />with any other person. or entity of any premises situated in the Shopping Center to be used, in
<br />whole or in part, as a retail farm and home store {withproduct miX-similar to that of Tenant,
<br />Tractor Supply or any similarJarm and home store) center business,home improvement store,
<br />lawn and garden store, hardware store, petstore or western clothing store (including, without
<br />limitation, the sale of goods and services offered by Tenant at the Leased Premises). These
<br />covenants, conditions, and restrictions are for the benefit of the Lel:lsedPremises a.t1d shall run
<br />with the land and inure to and pass with the Shopping Center, and are intended to be binding on
<br />any and all successive owners of the Shopping Center herein restricted and all portions thereof,
<br />but will automatically terminate upon the expiration or termination of the Lease.
<br />
<br />The parties declare that the Lease is in full force and effect. This Memorandum is not a
<br />complete summary of the Lease. Provisions in this Memorandum shall not be used in interpreting
<br />any provisions of the Lease. In the event of conflict between the Memorandum and the Lease,
<br />the Lease shall control.
<br />
<br />TN WITNESS WHEREOF, the parties have executed this Memorandum on the date first
<br />written above.
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<br />TENANT: '
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<br />LANDLORD:
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<br />Orscheln Farm and Home LLC
<br />
<br />By: 1t1f:~~
<br />
<br />. da M. Mustoe
<br />Vice President
<br />
<br />:d ~_~llires L.L.C
<br />
<br />Name:.. ..."., '.. .TcJ.~
<br />Title:9~ ... .. . . . ...
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<br />'RECEWEU JUL 1 B?_OO_,;
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