Nebraska-Fremont-905 South Downing Street Building Improvement Lease - Oilgear Co. and County of Dodge, Nebraska
EXECUTION COPY
THE OILGEAR COMPANY,
as Lessor
to
COUNTY OF DODGE, NEBRASKA,
as Lessee
____________________________________
BUILDING IMPROVEMENT LEASE
____________________________________
Dated as of October 1, 1997
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BUILDING IMPROVEMENT LEASE AGREEMENT
THIS BUILDING IMPROVEMENT LEASE is made and entered into as of the 1st
day of October, 1997 by and between THE OILGEAR COMPANY, a Wisconsin
corporation ("Company"), as lessor, and COUNTY OF DODGE, NEBRASKA, a political
subdivision of the State of Nebraska ("Issuer"), as lessee.
Company, in consideration of the covenants of Issuer hereinafter set
forth, does by these presents lease to Issuer the buildings and improvements
described at Appendix A hereto situated upon a parcel of land located at 905
South Downing Street, Fremont, Nebraska, more specifically described at
Appendix B hereto.
TO HAVE AND TO HOLD the same unto Issuer from, on and after the date
hereof to the termination date of that Lease Agreement dated as of October 1,
1997 by and between Issuer, as lessor, and Company, as lessee, but in no event
earlier than the first date on which the Bonds are no longer Outstanding under
the Indenture (as such terms are defined by such Lease Agreement), and Company
warrants to Issuer the peaceful and quiet enjoyment of the premises hereby
leased for and during the term hereof.
Issuer, in consideration of the leasing of the premises as above set
forth, has agreed with Company to pay Company as rent for the use of the same
the sum of Ten Dollars ($10.00) per year, which rent has been paid by Issuer
for the entire term, the receipt and sufficiency of which are hereby
acknowledged by Company.
Issuer further covenants with Company that at the expiration of the
term of this Building Improvement Lease peaceable possession of said premises,
together with any improvements, fixtures, equipment and furnishings now or
hereafter situated thereupon during the lease term, shall be given to Company.
It is further covenanted and agreed between the parties hereto that
the leased premises shall be used only in accord with the Nebraska Industrial
Development Act, Chapter 13, Article 11, Reissue Revised Statutes of Nebraska,
1943, as amended.
If Company or Issuer acquires the interest of the other in the
premises, including pursuant to the Lease Agreement, there shall be no merger
of the leasehold estate granted hereby into (i) the fee simple estate in the
property, or (ii) any leasehold estate superior to that of Issuer.
The covenants herein shall extend to and be binding upon the
successors and assigns of the parties to this Building Improvement Lease.
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IN WITNESS WHEREOF, the parties hereto have caused this Building
Improvement Lease to be executed by their duly authorized officers as of the
day and year first written above.
THE OILGEAR COMPANY
By [SIG]
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Vice President, Finance
[SEAL] COUNTY OF DODGE, NEBRASKA
ATTEST:
By [SIG] By Dean T. Lux
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County Clerk Chairman, Board of Supervisors
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