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' • 201001127 ~ o~'~J IV~a~ Demised Land prior to the Commencement Date, rental will commence at time of said occupancy. Regardless of any change in the Commencement Date due to early occupancy by Lessee, the Expiration Date shall remain fixed as stated above. 2.2. It is agreed that if the Lessor and the Lessee shall have fully complied with all the terms of this lease, the Lessee at the expiration of the original term of the Lease shall have the right to extend this Lease for a period of up to 20 years. The extension shall be on the same terms and conditions as those set forth for the original term in this lease. The Lessee shall notify Lessor in writing of its intent to exercise such right within One year of the end of the original Lease. 2.3. If for any reason Lessor cannot deliver possession of the Demised Land to Lessee by the Commencement Date, Lessee shall not, except as otherwise provided herein, be obligated to perform any other obligation of Lessee under the terms of this Lease until Lessor delivers possession of the Demised Land to Lessee. If Lessor does oat deliver possession of the Demised Land on the Commencement Date, the term of the Lease shall commence on the date Lessee takes possession of the Demised Land for the purpose described herein and the term of the lease, identified above, shall begin running from the possession date. If possession of the Demised Land is not delivered to Lessee within 60 days after the Commencement Date and such delay is not due to Lessee's acts, failure to act or omissions, Lessee may by notice in writing to Lessor within 10 days after the end of said 60 day period cancel this Lease and the parties shall be discharged from all obligations hereunder. 2.4. If Lessee, with or without Lessor's consent, remains in possession of the Demised Land or any part thereof after the expiration of the term or executed options hereof, such occupancy shall be a tenancy from month-to-month upon all the provisions of this Lease. 2.5. The Demised Land shall be used for the sole purpose of providing recreational ball fields and other such recreational outdoor events. If Lessee fails to use the Demised Land for such purposes nr fails to show substantial effort toward effectuating such use by December 31, 2010, the Lease shall terminate on January 1, 2011 and the parties shall be discharged from all obligations hereunder. If Lessee at any time thereafter discontinues use of the Demised Land for such purposes, Lessor may, by serving 30 days notice upon Lessee, terminate the Lease. 2.6. The Lessor and Lessee may terminate the lease by mutual written consent. 2.7. The Lessor may terminate the lease if directed to da so by statute. 3. Rent. The State of Nebraska recognizes the importance of recreational facilities to the well being of the citizens of Nebraska. The State further recognizes the need to facilitate development of new recreational facilities as a result of the implementation of LB 1116 (2008) related to the move of the Nebraska State Fair from Lincoln, Nebraska to Grand Island, Nebraska. In recognition thereof, the State agrees to lease the Demised Premises to the Lessee for $1.00 per year, payable on January 1 of each year beginning January 1, 2010 for the term of this lease. Notwithstanding the forgoing, should the Nebraska State Fair remain in Lincoln Nebraska or be relocated to a City other than Grand Island, the parties agree to negotiate a revised rental rate in good faith for the lease term beginning January 1, 2015. Under no circumstance shall the rental rate, if revised under this agreement, exceed the lost farm rental payments Lessor would have received had it not leased the land to the Lessee. At the time of signing this agreement, the value of the lost rental is $158.00 per acre or $12,385.Fi2 per year for the Demised Land. 4. Notices. All notices herein provided to be given, or which may be given, by Lessor ar Lessee to the others, shall be deemed to have been fully given when made in writing and deposited in the United States mail, postage prepaid, and addressed as follows: Page 2 of 5