APS Leases Eldorado High Billboard Site to Clear Channel

Annual Rent $18,000.00 for 1 digital face and 1 static face, or 25% of revenues on each 2-sided billboard, whichever is greater, with 2% annual increases

FACILITIES

Five (5) year Lease Term starting on the Commencement Date, with an additional five (5) year renewal option at Lessor’s discretion

Lessor may, at its sole discretion, renew the Agreement for one additional five-year term upon expiration of the initial term, with ninety (90) days written notice from Lessee of desire to renew. Rent for the renewal period will be increased to the then-current market rate as negotiated by the parties, and Lessor reserves the right at the end of the initial term to renegotiate lease terms to reflect fair market value. If converted to a 2-sided digital face billboard, rent must be renegotiated and approved prior to conversion.

Agreement