THE COMPANIES
This Instrument Prepared by:
James R. Mcllwain
5551 Corporate Boulevard Lease #641
Baton Rouge, Louisiana 70808
Varia
James R. Mcllwain
SIGN LOCATION LEASE
THIS LEASE AGREEMENT, made this B day of My _ 2020, by and between City of Cathedral City, a California Municipal Corporation (hereinafter referred to as "Lessor") and THE LAMAR COMPANIES (hereinafter referred to as "Lessee"), provides
WITNESSETH
"LESSOR hereby leases to LESSEE, it successors or assigns, as much of the hereinafter described lease premises as may be necessary for the construction, repair and relocation of an outdoor advertising structure ("sign"), including necessary structures, advertising devices, utility service, power poles, and connections, with the right of access to and egress from the sign by LESSEE'S employees, contractors, agents and vehicles and the right to survey, post, illuminate and maintain advertisements on the sign, and to modify the sign to have as many advertising faces, including changeable copy faces or electronic faces, as are allowed by local and state law.
The premises are a portion of the property located in the County of Riverside, State of California, more particularly described as: Date Palm Drive EL 70' N/O Buddy Rodgers Avenue, Cathedral City APN:
674-020-048. The premises are a portion of the property located in the County of Riverside, State of California, more particularly described as: a portion of the NW ¼ of Sec 34, Township 4S, Range SE, San Bernardino Base and Meridian.
1. Rents & Term
The Lessee, in consideration of the foregoing, agrees to pay in lawful money of the United States of America, a guaranteed minimal annual rental (GMAR) of Eight Thousand dollars ($8,000.00) per year, payable in 12 monthly installments.
As additional rental over and above GMAR, Lessee shall pay percentage rental equal to the difference of GMAR paid (the most recent completed fiscal year) and thirty percent (30%) of static face and fifteen percent (15%) of digital face revenues (if applicable) earned for each calendar year.
Term of Lease shall be for a period of Five (5) years, commencing June 1, 2020 ("Commencement Date") and terminating May 31, 2025.
Rent shall be considered tendered upon due mailing or attempted hand delivery during reasonable business hours at the address designated by LESSOR, whether or not actually received by LESSOR.
Should LESSEE fail to pay rent or perform any other obligation under this lease within thirty (30) days after such performance is due, LESSEE will be in default under the lease. In the event of such default, LESSOR must give LESSEE written notice by certified mail and allow LESSEE thirty (30) days thereafter to cure any default.
Late payment fees shall accrue at ten percent (10%) per annum and compounded daily beginning on the twenty-fifth (25) calendar day following the due date until paid. This provision shall not be construed to relieve the Lessee from his obligation to make timely rental payments. Effective on dates after approval of lease by General Manager
LESSOR agrees not to erect on site signage or plant any vegetation that may obstruct the view of LESSEE'S sign on the property at the sign location referenced above .
LESSEE may terminate this lease upon giving thirty (30) days written notice in the event that the sign becomes entirely or partially obstructed in any way or in LESSEE'S opinion the location becomes economically or otherwise undesirable. If LESSEE is prevented from constructing or maintaining a sign at the premises by reason of any final governmental law, regulation, subdivision or building restriction, order or other action, LESSEE may elect to terminate this lease. In the event of termination of this Lease prior to expiration, LESSOR will return to LESSEE any unearned rentals on a pro rata basis.
All structures, equipment and materials placed upon the premises by the LESSEE or its predecessor shall remain the property of LESSEE and may be removed by LESSEE at any time prior to or within a reasonable time after expiration of the term hereof or any renewal. At the termination of this lease, LESSEE agrees to restore the surface of the premises to its original condition within 120 days of notice of Termination. The LESSEE shall have the right to make any necessary applications with, and obtain permits from, governmental bodies for the construction and maintenance of LESSEE'S sign, at the sole discretion of LESSEE. All such permits and any nonconforming rights pertaining to the premises shall be the property of LESSEE.
6. LESSOR represents that he is the owner or lessee under written lease of the premises and has the right to make this agreement and to grant LESSEE free access to the premises to perform all acts necessary to carry on LESSEE'S business activities related to the sign. LESSOR is not aware of any unrecorded rights, servitudes, easements, subdivision or building restrictions, or agreements affecting the premises that prohibit the erection, posting, painting, illumination or maintenance of the sign. LESSOR acknowledges that the terms and conditions of this agreement are confidential and proprietary and shall not be disclosed to any third-party without the written consent of LESSEE.
7. In the event of any change of ownership of the property herein leased, LESSOR agrees to notify LESSEE promptly of the name, address, and phone number of the new owner, and LESSOR further agrees to give the new owner formal written notice of the existence of this lease and to deliver a copy thereof to such new owner at or before closing. In the event that LESSEE assigns this lease, assignee will be fully obligated under this Lease and LESSEE will no longer be bound by the lease. This lease is binding upon the personal representatives, heirs, executors, successors, and assigns of both LESSEE and LESSOR.
LESSEE agrees to indemnify LESSOR from all claims of injury and damages to LESSOR or third parties caused by the installation, operation, maintenance, or dismantling of LESSEE'S sign during the term of this lease. LESSEE further agrees to repair any damage to the premises or property at the premises resulting from the installation, operation, maintenance, or dismantling of the sign, less ordinary wear and tear.
Lease 401-00641-01
LESSEE shall at all times during the tenure of this Lease maintain the premises and all improvements therein in good order and repair and in a neat, sanitary and attractive condition and in compliance with applicable law, ordinance or regulation LESSOR agrees to indemnify LESSEE from any and all damages, liability, costs and expenses, including attorney's fees, resulting from any inaccuracy in or non-fulfillment of any representation, warranty or obligation of LESSOR herein due to gross misconduct.
11. LESSOR shall have the right to terminate this Agreement at any time during the period of this Lease.
LESSEE shall remove its sign and all ancillary equipment within one hundred twenty days (120) of receipt of written notice from Lessor.
12. During the term of this Lease Agreement, LESSOR may use one preemptable face of the structure to advertise the City of Cathedral City events within the City. Revenue generating advertisers) would preempt the usage by Lessor. LESSEE at its sole cost and expense will provide one design and production advertising vinyl per year for use by the City.
14. LESSEE shall at its sole cost and expense, procure and maintain for the duration of this Lease the following types of and limits of insurance:
Type: Limits:
Commercial General Liability $2,000,000 per occurrence
Commercial Automotive $300,000
Worker's Compensation as required by law in the State of California The general liability policy shall be endorsed to name LESSOR, its Officers, employees, and agents as additional insured regarding liability arising out of the LESSEE use of the real property. LESSEE'S coverage shall be primary and shall apply separately to each insurer against who claim is made or suit is brought, except with respect to the limits of the insurer's liability. LESSEE shall provide to LESSOR the following proof of insurance: (a) Certificates of Insurance evidencing this insurance and certifying the additional insured coverage.
13. This Lease is NOT BINDING UNTIL ACCEPTED by the General Manager of a Lamar Advertising Company.
LESSEE: LESSOR: Cathedral City
THE LAMAR COMPANIES A California Municipal Corporation
BY anexa loorman
Lamar Central Outdoor, LLC
By its sole member:
Lamar Media Corp
Vanessa Moorman, Vice President
DATE: 05 121/2020 DATE: May _'13/2020
Lease 401-00641-01
Address of LESSEE: Address of LESSOR:
77-583 EI Duna Court, Suite J 18.700 Avenida Lalo Guervero Palm Springs, CA 92211 cathedralCity.ct 92234
Office: 760-327-4500 [email protected]
Phone: (460) 770-0372
Tax I.D. Number:
Witnesses (LESSEE). Witnesses (LESSOR)
Agdufebinin IncigenaNte
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Aydlee Palominu, Administrative Arsistant TraceyR Mantinez. CityClenk Print Name Print Name
Lease 401-00641-01