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TH
<br />(LAIVIA R
<br />COMPANIES
<br />Lamar Co # 157
<br />This Instrument Prepared by: XXX New
<br />James R. Mcllwain Renewal
<br />5321 Corporate Boulevard Lease #
<br />Baton Rouge, Louisiana 70808
<br />James R. Mcllwain
<br />SIGN LOCATION LEASE
<br />THIS LEASE AGREEMENT, made this 1st day of March, 2021, by and between:
<br />CITY OF RAMSEY
<br />(hereinafter referred to as "Lessor") and THE LAMAR COMPANIES (hereinafter referred to as "Lessee"), provides
<br />WITNESSETH
<br />"LESSOR hereby leases to LESSEE, its successors or assigns, as much of the hereinafter described lease premises as may
<br />be necessary for the construction, repair and relocation of an outdoor advertising structure ("sign"), including necessary structures,
<br />advertising devices, utility service, power poles, communications devices and connections, with the right of access to and egress from
<br />the sign by LESSEE'S employees, contractors, agents and vehicles and the right to survey, post, illuminate and maintain
<br />advertisements on the sign, and to modify the sign to have as many advertising faces, including changeable copy faces or electronic
<br />faces, as are allowed by local and state law, and to maintain telecommunications devices or other activities necessary or useful in
<br />LESSEE'S use of the sign. Any discrepancies or errors in the location and orientation of the sign are deemed waived by LESSOR
<br />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 ANOKA, State of MINNESOTA, more particularly
<br />described as:
<br />7575 Hwy 10 NW, Ramsey, MN 55303; P.I.D 28-32-25-42-0002
<br />1. This Lease shall be for a term of twenty (20) years commencing on the first day of the calendar month following the date of
<br />completion of construction of the sign, or, if this is a renewal Lease, the term and payments begin TBD ("commencement date").
<br />LESSEE may renew this Lease, for an additional term, of equal length, on the same terms and conditions. Said renewal term
<br />shall automatically go into effect unless LESSEE shall give to LESSOR written notice of non -renewal at least sixty (60) days prior to
<br />the expiration of the original term.
<br />2. LESSEE shall pay to LESSOR an annual rental of TWELVE THOUSAND AND NO/100($12,000.00) Dollars, payable in
<br />advance in equal installments of with the first installment due on the first day of the month following commencement. Rent shall be
<br />considered tendered upon due mailing or attempted hand delivery during reasonable business hours at the address designated by
<br />LESSOR, whether or not actually received by LESSOR. Should LESSEE fail to pay rent or perform any other obligation under this
<br />lease within thirty (30) days after such performance is due, LESSEE will be in default under the lease. In the event of such default,
<br />LESSOR must give LESSEE written notice by certified mail and allow LESSEE thirty (30) days thereafter to cure any default.
<br />3. LESSOR agrees not to erect or allow any other off -premise advertising structure(s), other than LESSEE'S, on property
<br />owned or controlled by LESSOR within two thousand (2000) feet of LESSEE'S sign. LESSOR further agrees not to erect or allow
<br />any other obstruction of highway view or any vegetation that may obstruct the highway view of LESSEE'S sign. LESSEE is hereby
<br />authorized to remove any such other advertising structure, obstruction or vegetation at LESSEE'S option.
<br />4. LESSEE may terminate this lease upon giving thirty (30) days written notice in the event that the sign becomes entirely or
<br />partially obstructed in any way or in LESSEE'S opinion the location becomes economically or otherwise undesirable. If LESSEE is
<br />prevented from constructing or maintaining a sign at the premises by reason of any final governmental law, regulation, subdivision or
<br />building restriction, order or other action, LESSEE may elect to terminate this lease. In the event of termination of this Lease prior to
<br />expiration, LESSOR will return to LESSEE any unearned rentals on a 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 term
<br />hereof or any renewal. At the termination of this lease, LESSEE agrees to restore the surface of the premises to its original condition.
<br />The LESSEE shall have the right to make any necessary applications with, and obtain permits from, governmental bodies for the
<br />construction and maintenance of LESSEE'S sign, at the sole discretion of LESSEE. All such permits and any nonconforming rights
<br />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 lease.
<br />LESSOR is not aware of any recorded or unrecorded rights, servitudes, easements, subdivision or building restrictions, or agreements
<br />affecting the premises that prohibit the erection, posting, painting, illumination or maintenance of the sign. LESSOR acknowledges
<br />that the terms and conditions of this agreement are confidential and proprietary and shall not be disclosed to any third -party without
<br />the written consent of LESSEE.
<br />Rev 7/6/2012
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