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<br /> Eller Media Company
<br /> LAND LEASE #08433-1
<br /> In consideration of the undertakings contained in this Land Lease and other good and valuable
<br /> nsideration the receipt of which is hereby acknowledged, John and Anna Lange(" Lessor"),
<br /> reby leases and grants exclusive rights for outdoor advertising to Eller Media Company, ("Lessee")
<br /> a portion of the real estate commonly known as 1201 Old Highway Sin the City of New Brighton
<br /> t County of Ramsey, in the state of Minnesota, having the legal description attached as Exhibit
<br /> ("Leased Premises") for the purpose of erecting, maintaining and modifying an advertising sign
<br /> s ucture, including supporting structures, devices, power poles, illumination facilities and
<br /> c nections, service ladders and other appurtenances, with the right of ingress to and egress from
<br /> t Leased Premise.
<br /> The lease shall be for a term of Ten (10 ) years commencing on February' 13, 2001.
<br /> 3 Lessee shall pay to Lessor a yearly rental payment in the amount of'Two Thousand Four
<br /> ndred and No/100 ($2,400.00) dollars payable monthly. Beginning the second year of this
<br /> I se, the rental amount shall increase by three (3) percent or by the Consumer Price Index, which
<br /> e r is greater, and be compounded annually through the term of this lease. A one-time signing
<br /> b us shall be paid to the Lessor in the amount of Q+te-"thousand Five Hundred and No/100
<br /> s ) dollars l ~ i, 1 Q f. ,
<br /> 4 I By execution hereof, Lessor gives Eller Media Gompany its permission and limited power of
<br /> a rney to act in its behalf for the purpose of performing every act deemed necessary to Lessee to
<br /> a ly for and secure at its own expense the state and local building and sign permits, zoning
<br /> v lances, special uses, or changes in the zoning law relating to signs, necessary to erect, maintain
<br /> a modify the advertising sign structure on the leased premises. This Lease is subject to the
<br /> L see receiving the necessary Local and State permits needed to construct said structure. Lessor
<br /> g s Lessee its permission to cut, trim or eliminate trees or other vegetation which in the opinion of
<br /> Lessee is an obstruction to the visibility of the sign face(s).
<br /> 5 All structures, displays and materials placed upon the Leased Premises by Lessee are Lessee's
<br /> trade fixtures, trade names and trademarks, and shall be and remain Lessee's property, and may be
<br /> removed by Lessee at any time prior to or within a reasonable time after the termination of this lease
<br /> o ny extensions thereof. Without Lessee's prior written consent, Lessor agrees that no liens or
<br /> e umbrances may be placed upon or be permitted to remain upon Lessee's personal property.
<br /> 6 Lessee shall indemnify and hold harmless Lessor from all liability to persons or property by
<br /> reason of accidents resulting from the negligent acts of Lessee, its agents, employees or others
<br /> e ployed in the erection, maintenance, operation, repair or removal of the advertising sign
<br /> structure.
<br /> 7. Lessor represents and warrants that it is the owner or title holder of the leased Premises or the
<br /> a ant of such owner or title holder and has full authority to execute this lease and agrees to
<br /> in minify and save harmless Lessee from any and all claims and/or liability caused by Lessor's
<br /> b teach of this warranty.
<br /> 8. In the event that: (a) the advertising sign structure becomes partially or entirely obstructed; (b)
<br /> th value of the location for advertising purposes becomes diminished by change in highway or
<br /> tr is conditions; (c) necessary state or local permits are refused or invalidated; (d) erection,
<br /> m ntenance, illumination or modification of the sign structure is prevented or restricted by state or
<br /> to I statute, rule, ordinance or regulation presently in effect or subsequently enacted, thereby
<br /> di inishing the value or increasing the cost of Lessee's use of the Leased Premises for advertising;
<br /> o e) for any other legitimate reason Lessee has the option on ten (10) days' notice to Lessor by
<br /> re stered mail to reduce the rental required under paragraph 3 in proportion in decreased value of
<br /> th Leased Premises for as long as such impairment continues, or Lessee may terminate this lease
<br /> o en (10) days' notice to Lessor by registered mail. Further, if such an obstruction or impairment
<br /> is t-ie fault of Lessor or its tenants, agents, employees, or other persons acting on Lessor's behalf,
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