200905599 - Laserfiche WebLink

Browse

~, 200905599 3. Term and Possession. a. Preliminary Term. The preliminary term of this Lease shall commence on July 1, 2009 and, subject to termination as herein provided, shall continue until July 31, 2010 (the "Freliminary Term"). During the Preliminary Term, Lessee shall have non- exclusivepossession and use of the Leased Premises far purposes of construction of the Improvements (as hereinafter defined). Lessee shall use reasonable efforts to minimize disruption of the use of the Leased Premises by Lessors during the Preliminary Term. b. Initial Term. The initial term of this Lease shall be for a period of fifty (50) years (the "Initial Term") beginning on June 1, 2010 (the "Commencement Date") and ending, unless sooner terminated, on May 31, 2060. During the Initial Term, Lessee shall have exclusive possession of the Leased Premises fox a period of sixty (60) consecutive days between June 1 S and September 30 excluding the Heartland Event Center on the Leased Premises and subject to concurrent access and parking for events at the Heartland Event Center. Lessee shall have exclusive possession ofthe Heartland Event Center for the period commencing fifteen (15) days prior to commencement of the Nebraska State Fair and ending five (S) days after completion of the Nebraska State Fair. Such possession periods shall be referred tv herein as "Lessee's Possession Dates." Lessee's Possession Dates for the Leased Premises excluding the Heartland Event Center for the calendar year 2010 shall be August 1- September 29, 2010. Lessee's Passession Dates for the Heartland Event Center shall be August 12 -September 11, 2010. Thereafter, Lessee shall deliver notice to Lessors of Lessee's Possession Dates and dates for the commencement and ending of the Nebraska State Fair for each calendar year during the Term hereof on or before June 1 of the prior calendar year. Notwithstanding the foregoing, Lessee hereby consents to the use of the Leased Premises by the Hall County Fair on the following dates: July 14-18, 2010; July 20- 24, 2011; and July 18-22, 2012 and by Nebraska 4-H for the State 4-H Horse Show and Exposition on the fallowing dates: July 12-15, 2010; July 18-21, 2011; and July 16-19, 2012. Thereafter, the Hall County Fair anal State 4-H Horse Show and Exposition must end na later than July 25, unless otherwise agreed to in writing by Lessee. Former shall deliver notice to the Parties of the Hall County Fair and State 4- HHorse Shaw dates on or before June 1 of the prior calendar year. c. Renewal Option. Provided that this Lease is still in effect and Lessee is not in default of any material term, condition or covenant contained in this Lease at the time of each renewal, this Lease may be extended at the option of Lessee for five (5) consecutive renewal terms of ten (10) years each (each, a "Renewal Term") commencing on the day following the last day of the Initial Term or the previous Renewal Term, as the case maybe, and terminating on the 10t1i anniversary of such expiration date, on the same terms and conditions set forth herein except that Lessee -4-