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Lease # 9954
<br /> LEASE
<br /> THIS G EMENT OF LEASE(Lease)is made and entered into this 10th day of February 2001 by and between
<br /> Jea a Wipperfurth with an address of6428 Highway 19
<br /> Waunakee. WI 53597 (telephone 608-849-6256 ),hereinafter known as Lessor,and
<br /> Adams Outdoor Advertising Limited Partnership dba Adams Outdoor Advertising of Madison,with an address of 102 E.Badger Road,Madison,
<br /> Wisconsin 53713(telephone 608-271-7900),hereinafter known as Lessee.
<br /> WITNESSETH
<br /> 1.Subject to the terms and conditions hereinafter following,Lessor,for Lessor and Lessor's successors and assigns,hereby leases,demises,and
<br /> grants exclusive use and possession to the Lessee,for Lessee and Lessee's successors and assigns, as much of the property located at
<br /> near 6428 Highway 19 ,in the Township of Springfield ,nano
<br /> County,State of Wi arnncin ,hereinafter referred to as the Premises,together with free access to,over and upon same,as
<br /> necessary for the construction,replacement,repair and maintenance of the advertising structure and displays hereinafter described(which
<br /> includes all attachments to the advertising structure placed thereon by the Lessee and which includes the right to periodically change the
<br /> advertisements placed thereon),along with such supports and devices as are necessary therefore,all of which shall hereinafter be referred to as
<br /> the Advertising Structures and Displays. Lessee shall further have the right to run separately metered(to be billed to Lessee)utilities above or
<br /> under the Premises as may be necessary to operate the Advertising Structures and Displays.The Advertising Structures and Displays shall be
<br /> generally located on th e-E-W of Highway 19 (specify parallel street)approximately feet/miles
<br /> I( S-E-W of near 6428 Highway 19 / 500' East of King,sl ey Road
<br /> (specify cross street)and shall be used for the following advertising structures and displays: one back–to–back
<br /> poster structure facing east/west
<br /> *constru.ction completion and terminating the_day of
<br /> 2.The term of this Lease for a period of 10 years,commencing the_ ay o 9 y
<br /> _.Lessee may commence construction of the Advertising Structures and Displays before the commencement date of the Lease
<br /> as specified herein,with the additional period from the date of construction to the date of commencement of this Lease as specified herein to be
<br /> known as the additional lease period and the total term of the Lease shall be the term specified above plus the additional lease period.
<br /> 3.Lessee shall pay Lessor lease payments as follows:
<br /> ❑ Monthly lease payments in advance in the amount of Dollars($ )for each
<br /> month of each term of the Lease,with each payment due on the commencement date and the first of each month during the term of the
<br /> Lease.
<br /> ❑ Quarterly lease payment in advance in the amount of Dollars($ )for each
<br /> period of three months of each term of the Lease,with each payment due on the commencement date and the first of the following three
<br /> month periods during the term of the Lease.
<br /> ❑ Annual lease payments in advance in the amount of*nee as-t'cbad ndr1 snd,im Dollars($ )for each
<br /> year of each term of the Lease,with each payment due on the commencement date and each anniversary date during the term of the Lease.
<br /> If Lessee commences construction of the Advertising Structures and Displays before the commencement date of the Lease,the initial lease
<br /> payment shall include a pro-rata lease payment for the additional lease period based upon the number of days in the additional lease term.
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<br /> 5.Lessor agrees that no other use will be granted that i��y way obstructs the clear view of the Advertising Structures and Displays and will not
<br /> permit other advertising structures or displays to be placed next to,or adjacent to,the Advertising Structures and Displays that will in any
<br /> manner or way distract attention from Advertising Structures and Displays. Lessor shall in no way hinder the clear and unobstructed view of the
<br /> Adverting Structures and Displays. Lessee shall have the right to trim or remove any trees,shrubs,or underbrush which interferes with the
<br /> construction,replacement,repair,maintenance or visibility of the Advertising Structures and Displays or hinders the providing of utilities neces-
<br /> sary for the operation thereof. For the initial term and all renewal terms of this Lease,Lessor agrees not to grant to any third party the right,
<br /> whether by lease,easement or otherwise,to construct,replace,repair or maintain off-premises advertising structures or displays on the Pre-
<br /> mises.
<br /> 6.In the event that(a)the Advertising Structures and Displays become partially or entirely obstructed for any reason,whether arising on the
<br /> Premises or on other property,(b)the advertising or display lease value of the Advertising Structures and Displays is diminished for any reason,
<br /> including but not limited to diversion,reduction or obstruction of traffic,or(c)Lessee is prevented from constructing,replacing,repairing,or
<br /> using the Advertising Structure and Display by reason of any government authority,then Lessee may terminate the Lease upon thirty(30)days
<br /> written notice to Lessor and Lessor shall at the expiration of the thirty(30)days refund to Lessee a prorate share of the prepaid annual rent for
<br /> the unexpired period of the lease year.
<br /> 7.Lessor represents and warrants that Lessor is the owner of the Premises and has full authority to enter into the Lease and that this Lease does
<br /> not violate any agreement that the Lessor is a party to. Each party executing this Lease on behalf of Lessor or Lessee represents and warrants
<br /> that he or she has the authority to bind the Lessor or Lessee to the Lease.
<br /> THIS AGREEMENT OF LEASE INCORPORATES ALL THE TERMS AND CONDITIONS ON THE REVERSE SIDE HEREOF AS IF SET FORTH VERBA-
<br /> TIM HEREIN.
<br /> IN WITNESS WHEREOF,THE PARTIES HAD SET THEIR RESPECTIVE HANDS AND SEALS AT MADISON,WISCONSIN THE DAY AND YEAR
<br /> FIRST WRITTEN ABOVE.
<br /> ***see attached addendum***
<br /> Lessor: Lessee:
<br /> I
<br /> - • llll /'' Adams Outdoor Advertising Limited Partnership
<br /> �.#: •- /_ / i dba Adams Outdoor Advertising of Madison
<br /> e By: Jer e .S( le - leasiit, ir•
<br /> Print Name and Title
<br /> qna ure ignature
<br /> 990988 300899srp
<br /> lease
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