|
THE
<br />Lamar Co # 243 LEASE RENEWAL 3625-01
<br />This Instrument Prepared by:
<br />James R. McIlwain
<br />5551 Corporate Boulevard
<br />Baton Rouge, Louisiana 70808
<br />,> � �
<br />�� , f e �F'���G��V <'�-^C;{.ICG.s:..,.��
<br />'•:C.ri' %'a
<br />James R McIlwain
<br />SIGN LOCATION LEASE
<br />201102403
<br />THIS LEASE AGREEMENT, made this �__ day of 1=�E3RIqAR.�{ , 20 i l , by and beriveen:
<br />Michael Alan Harders & Angeta Lee Harders/ Husband and Wife
<br />(hereinafter referred to as "Lessor") and THE LAMAR COMPANIES (hereinafter referred to as "Lessee"), provides
<br />WITNESSETH
<br />"LESSOR hereby leases to LESSEE, it successors or assigns, as much of the hereinafter described lease premises as
<br />may be necessary for the construction, repair and relocation of an outdoar advertising structure ("sign"), including necessary
<br />structures, advertising devices, utility service, power poles, communications devices and connections, with the right of access
<br />to and egress from the sign by LESSEE'S employees, contractors, agents and vehicles and the right to survey, post, illuminate
<br />and maintain advertisements on the sign, and to modify the sign to have as many advertising faces, including changeable copy
<br />faces or electronic faces, as are allowed by local and state law, and to maintain telecommunications devices or other activities
<br />necessary or useful in LESSEE'S use of the sign. Any discrepancies or errors in the location and arientation of the sign are
<br />deemed waived by LESSOR upon LESSOR'S acceptance of the first rental payment due after the construction of the sign.
<br />The premises are a portion of the property located in the County/Parish of HALL, State of NEBRASKA, more particularly
<br />described as: PT of the Northwest Qaarter of the Northeast Qaarter (NWl/4, NE1/4) and Lot One (1) and (2) in Section
<br />28, Township 10 North, Range (10), West of the 6` P.M. in Hall County Nebraska
<br />STATE PERMITTED LAMAR SIGN #408003089NE
<br />This Lease shall be for a term of TWENTY FIVE (25) years commencing July 1, 2011 and ending June 30, 2036
<br />LESSEE may renew this Lease, for an additional term, of equal length, on the same terms and conditions. Said
<br />renewal term shall automatically go into effect unless LESSEE shall give to LESSOR written notice of non-renewal at least
<br />sixty (60) days prior to the expiration of the original term. Any renewal periods will include 10% increase to lease payments
<br />every ] 0 years.
<br />2. Lease rent shall be paid annually in advance according to the following schedule:
<br />YEARS 1-15 $750.00 per year, paid annually in advance
<br />YEARS 16-25 $825.00 per year, paid annually in advance
<br />Rent shall be considered tendered upon due mailing or attempted hand delivery during reasonable business hours at the
<br />address designated by LESSOR, whether or not actually received by LESSOR. Should LESSEE fail to pay rent or perform
<br />any other obligation under this lease within thirty (30) days after such performance is due, LESSEE will be in default under
<br />the lease. Tn the event of such default, LESSOR must give LESSEE written notice by certified mail and allow LESSEE thirty
<br />(30) days thereafter to cura any default.
<br />3. LESSOR agrees not to erect or allow any other off-premise advertising structure(s), other than LESSEE'S, on
<br />property owned or controlled by LESSOR within two thousand (200Q) feet of LESSEE'S sign. LESSOR further agrees not
<br />to erect or allow any other obstruction of highway view or any vegetation that may obstruct the highway view of LESSEE'S
<br />sign. LESSEE is hereby authorized to remove any such other advertising structure, obstruction or vegetation at LESSEE'S
<br />option.
<br />4. LESSEE may terminate this lease upon giving thirty (30) days written notice in the event that the sign becomes
<br />entirely ar partially obstructed in any way or in LESSEE'S opinion the location becomes economically or otherwise
<br />undesirable. If LESSEE is prevented from constructing or maintaining a sign at the premises by reason of any final
<br />governmental law, regulation, subdivision or building restriction, order or other action, LESSEE may elect to terminate this
<br />lease. In the event of termination of this Lease prior to expiration, LESSOR will return to LESSEE any unearned rentals on a
<br />pro rata basis.
<br />5. All structures, equipment and materials placed upon the premises by the LESSEE or its predecessor shall remain the
<br />property of LESSEE and may be removed by LESSEE at any time prior to or within a reasonable time after expiration of the
<br />term hereof or any renewal. At the termination of this lease, LESSEE agrees to restore the surface of the premises to its
<br />original condition. The LESSEE shall have the right to make any necessary applications with, and obtain permits from,
<br />governmental bodies for the construction and maintenance of LESSEE'S sign, at the sole discretion of LESSEE. All such
<br />permits and any nenconforming rights pertaining to the premises shall be the property of LESSEE.
<br />6. LESSOR represents that he is the owner or lessee under written lease of the premises and has the right to make this
<br />agreement and to grant LESSEE free access to the premises to perform all acts necessary to exercise its rights pursuant to this
<br />lease. LESSOR is not aware of any recorded or ixnrecorded rights, servitudes, easements, subdivision or building restrictions,
<br />or agreements affecting the premises that prohibit the erection, posting, painting, illumination or maintenance of the sign.
<br />LESSOR acknowledges that the terms and conditions of this agreement are con6dential and proprietary and shall not be
<br />disclosed to any third-party without the written consent of LESSEE. -
<br />COMPANIES
<br />
|