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1.08. Pursuant to the Relocation Agreement, Clear Channel was granted certain rights to <br />reimbursement for the costs of relocating the removed billboards ("Relocation Costs") or, in the <br />event that reasonable relocation sites could not be identified prior to October 31, 2007, the right to <br />monetary compensation for the loss of the billboard locations ("Buyout Costs"); and <br />1.09. Pursuant to the Development Agreement, the City assigned its rights in the Lease <br />Agreements to Medtronic; Medtronic assigned certain rents to the City; and Medtronic assumed <br />certain responsibilities with respect to the payment of the Relocation Costs and the Buyout Costs; <br />and <br />1.10. Clear Channel has obtained City approval and executed lease agreements with third <br />parties for two (2) of the Billboards that are to be relocated pursuant to the Relocation Agreement; <br />and <br />1.11. Medtronic desires to allow Clear Channel to retain an additional Billboard provided <br />that Clear Channel shall only have the right to install and maintain sign faces on one half of such <br />Billboard while Medtronic shall reserve the right to purchase, install, replace and remove the sign <br />faces on the other half of the Billboard; and <br />1.12. Clear Channel, Medtronic and the City desire to reach a global settlement of all <br />issues and actual and potential claims related to the Lease Agreements, the Relocation Agreement, <br />Relocation Costs and Buyout Costs and to enter into a Global Release and Settlement Agreement <br />(the "Agreement"). The Agreement contains, in summary, the following actions regarding the <br />original six (6) billboards located at the Property and any replacement billboards: <br />a. Billboard 1 shall remain with rents assigned to the City; and <br />b. Billboard 2 shall remain with rents assigned to the City; and <br />Billboard 3 shall be removed by August 31, 2007; and <br />d. Billboard 4 and Billboard 5 have already been removed; and <br />e. Billboard 6 shall remain pursuant to a lease agreement between Medtronic and Clear <br />Channel; and <br />f. Anew Billboard shall be located at the Sysco Site, as defined in the Agreement, with <br />the City receiving any and all rents; and <br />g. Anew Billboard is intended to be located at a site defined as Program Avenue in the <br />Agreement subject to the requirements, terms and conditions contained in paragraph <br />no. 6 of the Agreement, with such requirements, terms and conditions as set forth in <br />the Agreement. <br />313296v4 SJR MU205-30 <br />2 <br />