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200905357 upon the City's fulfillment of alI of its obligations under the Lease Purchase Agreement with Wells Fargo. 3. Use. The Leased Premises shall be used for the construction and operation of the Building to be used by the City far public purposes, including, without limitation, for use as a recreational facility, for any city organizational function and also for State Faix purposes, if and when appropriate, and for any other suitable use as determined by the Gity. tlpan mutual agreement of the parties, the City nzay also use the Building for any sanctioned Nebraska School Athletic Activities Association or collegiate athletic event, or for any trade show, banquet, professional entertairument or convention. Such agreement from Former Park shall not be unreasonably withheld. Former Park reserves the right to use the Leased Premises excluding the Building concurrently with the City. 4. Bull 'n The Building on the Leased Premises shall be designed in accordance with plans and specifications provided by the Nebraska State Fair Board, with due consideration #o be provided to the City to allow for the Building to be used for any of the City's purposes. This Lease shall apply solely to the Building and the Leased Premises (as defined in Exhibit A hereto) and to access and parking on, over and across the part of the land used for parking or driveway purposes described on Exhibit B hereto. All necessary utilities that will be needed for the Building are to be furnished out of the funds to be collected and utilized for the relocation of the Nebraska State Fair, which project is being administered by the Nebraska State Fair Board and Former Park. The costs and expenses of any of these utility lines shall be paid for with the relocation funds and not from the separate ;funds of Former Park. The City shall have the right at its cost', as and to the extent that it determines appropriate, to install utilities for the Building, on, aver and across the real estate defined in Ex]ubit "B" hereto attached. 5. Rent. City shall pay to Former Park as gross rent ("Rent") for the Term hereof the suzn of One Thousand and No/100 Dollars ($1,000.00) per year, first payable upon the certificate of occupancy being provided for tixe facility to the City and then payable on the same day of each year thereafter for the balance of the lease term and any extension thereof. 6. 1Vlaintenance and Repaf_ r. The maintenance, repairs and replacements of the Building and interior and the Leased Premises shall be the responsibility of the City. The maintenance, repairs and replacement of surrounding properly as described on Exhibit "C" hereto attached and incorporated herein shall also be the responsibility of the City, including, but not limited to, maintenance of suitable parking, all sidewalks, landscape, and exterior lighting not attached to the Building, far access, parking and ,green space areas, 7. Insurance and Cas_ualtY. During the Ternas ofthis Lease, the City shall, at its own expense, insure the Leased Premises and the Building against loss or damage by fire and extended perils coverage in an amount not less than the Rill replacement value thereof, with such insurance to be under politics issued by responsible insurers authorized to do business in the State of Nebraska. The insurance policy shall name Wells Fargo, the City and Former Park as insured as their respective interests may appear, but so long as the City is not in default of this Lease, any lass shall be adjusted by and paid to Wells Fazgo and the City. Upon occurrence of any damage covered by the foregoing property i_n~~*'~nce, the City shall repair, replace or rCCOnstrac# the Building. The parties agree that if the available proceeds of the property insurance are insufficient to fitIly restore 2