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JAN'19-99 TUE 435 PM 'd'YATT AND MARTELL LLC FAX N0. 970 484 1170 P. <br /> <br />LEA@~7- H [E!T <br />IS LASE AGREEMENT is made and entered into this /~~t day <br />of riti~^ , 1998, by and between ACKERMAN`.I,AND & LIVESTOCK <br />CO., a Colorado corporation, the address of which £or purposes of <br />this Agreement is 171x5 North County Road 15, Wallington, Co 80549 <br />{"the Landlord"), and JACOR BROADCASTING OF COLORADO, INC., .a <br />Colorado corporation, the address of which for purposes of this <br />Agreement is 1612 Laporte, Fort Collins, CO 80521 ("the Tenant"j. <br />WTTNfi68ETX: <br />WHEREAS, the Landlord is the owner oP the real property <br />legally described as Section 30, Township 11 North, Range 69 West <br />and Sections 25, 26, and 35, Township 11 North, Range 70 Weat of <br />the 6th P.M., County of Latimer, State of Colorado ("the Proper- <br />ty"). <br />WHEREAS, the Tenant desires to construct and operate a radio <br />broadcast tower ("the Tower^) and transmitter building with <br />emergency generator ("the Building^) on the Property. The Tower <br />shall be located at the following coordinates: 40°53+42.3" North <br />and 105°1139.8^ West (^the Tower Location^). <br />WHEREAS, the teX1p ^the Leased Premises+' as used in this Lease <br />Agreement shall mean and refer to an area of the Property circular <br />in shape having a radius of five hundred (500) feet from the Tower <br />Location, together with an access easement thirty (30) Peet in <br />width Prom Latimer County Road 23 to the Tawer Location ("the <br />Access Easement"). Tha exact location of the Access Easement shall <br />be reasonably deteYmined by mutual agreement of the parties. <br />NOW, THEREFORE, in consideration of the mutual covenantrs, <br />promises, and agreements herein contained, and Two Thousand Five <br />Hundred Dollars ($2,500) paid by the Tenant to the Landlord, the <br />receipt and adequacy oY which are hereby confessed and acknowl- <br />edged, the parties hereto do hereby covenant, promise, and agree to <br />and with each other ae follows: <br />1. tease at the r,nased Premises. Contingent upon Pinal <br />approval of the Tower by the Board of County commissioners of <br />Lorimer Oounty, Colorado, the Federal Aviation Administration, and <br />the Federal Communications Commission (collectively "Final" <br />Approval^), the Landlord floss hereby lease, demise, and let unto <br />the Tenant, and the Tenant does hereby hire and take from the <br />Landlord the Leased Preaii.ses. If Final Approval of the Tower is <br />not obtained on or before December 31, 1999, then this Agreement <br />shall terminate add x7.1 parties shall be released Prom all <br />obligations hereunder. Tha Tenant shall sot in good 2aith and use <br />reasonable efforts to obtain Filial Approval of the Tower. The <br />