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•~' ~- 2ooso~5ss LEASE AGREEMENT This LEASE AGREEMENT (the "Lease") •is made and entered into as of the 1 Sc day of July 2009 by and between FONNER PARK EXPOSITION AND EVENTS CENTER, INC., a Nebraska nonprofit corporation ("Event Center"), HALL COUNTY LIVESTOCK IMPROVEMENT ASSOCIATION, a Nebraska nonprofit corporation ("Former"), and the CITY OF GRAND ISLAND, NEBRASKA, a municipal carporation (the "City") (Event Center, Former, and the City are collectively referred to herein as "Lessors"), and the NEBRASKA STATE FAIR BOARD f/k/a the Nebraska State Board of Agriculture, a private corporation established under the authority Neb. Rev. Stat. § 2-101 and an instrumentality serving the State ofNebraska and its citizens under the terms provided for in Neb. Rev. Stat. Article 1 of Chapter 2 ("Lessee"). Lessors and Lessee each maybe referred to hereim as the "Party" and jointly referred to herein as the "Parties." RECITALS WHEREAS, Former is the owner of the real property legally described on Exhibit "A" attached hereto and incorporated herein by this reference (the "Former Property"); and WHEREAS, Event Center is the legal owner and the City is the beneficial owner of the real property legally described on Exhibit "B" attached hereto and incorporated hereim by this reference (the "Event Center Property"); and WHEREAS, Former is the legal owner and Wells Fargo Brokerage Services, LLC ("Wells Fargo") and the City are ground lessees of the real property legally described on Exhibit "C" attached hereto and incorporated herein by this reference (the "City Property"); and WHEREAS, Event Center and the City entered into a Lease Purchase Agreement dated October 9, 2001, as amended by the Addendum to Lease Purchase Agreement dated August 26, 2003, and the Second Addendum to Lease Furchase Agreement dated December 1, 2004 (as amended, the "City Agreement") with respect to the Event Center Property; and WHEREAS, Former and Wells Fargo and the City entered rota a Ground Lease dated as of July 1, 2009 (the "City Ground Lease") with respect to the City Property am which the City Improvements (as hereinafter defined) will be constructed; and WHEREAS, the City and Wells Fargo entered into aLease-Furchase Agreement dated as of July 1, 2009 with respect to the funding of costs of the City Improvements by Wells Fargo and the leasing and purchasing of such improvements by the City (the "Wells Fargo Agreement"); and WHEREAS, Lessors, each separately, desire to lease to Lessee, and Lessee desires to lease from Lessors, each separately, the Former Property, the Event Centex Property, and the City Property, and all improvements now ar hereafter located thereon (collectively referred to herein as the "Leased Premises"), in accordance with the terms and conditions set forth below. -1-