Document:

EXHIBIT 10.11

 

AMENDED
AND RESTATED LEASE

 

THIS AMENDED AND
RESTATED LEASE (this “Lease”)
is entered into this 27th day of October, 2004 between DFA, LLC (“Lessor”) and AHERN RENTALS, INC. (“Lessee”).

 

RECITALS

 

A.                                   By
Indenture of Lease dated May 1, 2004 (the “Original Lease”), Lessor leased to Lessee those certain
premises, as is, situated in the City of Las Vegas, County of Clark and State
of Nevada, and described as follows: Property located at 2902 E. Alexander
Road, North Las Vegas, NV 89030, as more particularly described on the attached Exhibit A (the “Premises”).

 

B.                                     Lessor
and Lessee desire to amend, restate and supersede the
Original Lease as of the date of this Lease. 
Lessor and Lessee hereby agree that the Original Lease is hereby
amended, restated and superseded in its entirety effective as of the date of
this Lease and Lessor hereby leases the Premises to Lessee, and Lessee hereby
leases the Premises from Lessor, on the terms and conditions set forth in this
Lease.

 

TERMS
AND CONDITIONS

 

Term.

 

1(a)                            The term of this Lease shall commence on the date of this
Lease and continue through October 27, 2014, unless sooner terminated.

 

Rental.

 

1(b)(1)             Lessee
shall pay to Lessor as rent for the Premises the sum of $9,000 per month during
the first year of the lease term.

 

1(b)(2)             Commencing
on November 1, 2005 and on each November 1st (each, an “Annual Rent Adjustment Date”) during the
remainder of the lease term, the monthly rent payment shall be increased by an
amount equal to the greater of (i) three percent (3%) of the rent paid for
the prior year, or (ii) the same percentage as the percentage increase in
the Consumer Price Index
comparing the figure for the month prior to the month in which the adjustment
is to occur with the figure for the same month in the preceding year, except
that if the rent is adjusted pursuant to Section 1(b)(3) the
percentage under this clause (ii) to be used for calculating the
applicable increase in rent to commence on the next Annual Rent
Adjustment Date following a Major Improvement Rent Adjustment Date (as defined
in Section 1(b)(3) below) shall mean the same percentage as the
percentage increase in the Consumer Price
Index comparing the figure for the month prior to the month in which
the adjustment is to occur with the figure for the month prior to the preceding
Major Improvement Rent Adjustment Date. 
Comparisons shall be made using the Index
for the U.S. City Average — All Urban Wage Earners published by the
U.S. Department of Labor, Bureau of Labor Statistics.  If that Index is discontinued, the parties
shall use the nearest comparable index measuring changes in the cost of living
during the period involved.

 

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1(b)(3)             In
the event during the term of this Lease, Lessor constructs any Major
Improvement (defined below) on the Premises for Lessee’s benefit, beginning on
the first day of the second calendar month following the date of completion of
the Major Improvement (a “Major Improvement
Rent Adjustment Date”) the monthly rent shall be adjusted to be the
fair market rental value of the Premises as of the completion of the Major
Improvement, provided in no event shall the monthly rent be less than the
monthly rent in effect immediately prior to the construction of the Major
Improvement.  Upon completion of the
Major Improvement, the parties shall discuss and attempt to determine by mutual
agreement the monthly rent to be paid beginning on the Major Improvement Rent
Adjustment Date.  If the parties are
unable to reach agreement before the 30th day following the
completion of the Major Improvement, the matter shall be determined by
appraisal.

 

If an appraiser is required under this Section 1(b)(3), the monthly rent shall be determined by a qualified,
independent real property appraiser familiar with commercial rental values in
the area.  The appraiser shall be
selected by Lessee from a list of not fewer than three such individuals
submitted by Lessor.  If Lessee does not
make the selection within ten days after submission of the list, Lessor may do
so.  If Lessor does not submit such a
list within ten (10) days after written request from Lessee to do so,
Lessee may name as an appraiser any individual with such qualifications.  Within thirty (30) days after appointment,
the appraiser shall furnish to both parties an appraisal of the fair market
rental value of the Premises, which shall be final and binding on the
parties.  The cost of the appraisal shall
be borne equally by the parties.

 

For purpose of this Lease “Major Improvement” shall mean a structure
erected at the request of the Lessee as a permanent improvement on the Premises
that is intended to enhance the value of the Premises or an addition made at
the request of the Lessee that increases the size of a building on the Premises
or the size of the Premises.

 

1(b)(4)             Rent
will be paid in advance on the first day of each month to Lessor at the address
for Lessor set forth in this Lease, or at such other address as Lessor may
designate in writing to Lessee.  Rent is
uniformly apportionable day to day.

 

Use of
Premises.

 

(2a)                            The
Lessee shall use the Premises during the term of this lease for the conduct of
the following business: operations of an equipment rental company and for no
other purpose whatsoever without Lessor’s written consent.

 

(2b)                           The
Lessee will not make any unlawful, improper or offensive use of the Premises;
the Lessee will not suffer any strip or waste thereof; the Lessee will not
permit any objectionable noise or odor to escape or to be emitted from the Premises
or do anything or permit anything to be done upon or about the Premises in any
way tending to create a nuisance; the Lessee will not sell or permit to be sold
any product, substance or service upon or about the Premises, excepting in the
ordinary course of Lessee’s business or such as Lessee may be licensed by law
to sell and as may be herein expressly permitted.

 

(2c)                            The
Lessee will not cause the Premises at any time to fall into such a state of
repair or disorder as to increase the fire hazard thereon; the Lessee will not
install any power

 

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machinery on the Premises except in the ordinary course of Lessee’s
business or under the supervision and with written consent of the Lessor; the
Lessee will not store gasoline or other highly combustible materials on the
Premises at any time except in the ordinary course of Lessee’s business; the
Lessee will not use the Premises in such a way or for such a purpose that the
fire insurance on the improvements on the Premises is thereby cancelled.

 

(2d)                           The
Lessee shall comply at Lessee’s own expense with all laws and regulations of
any municipal, county, state, federal or other public authority respecting the
use of the Premises. These include, without limitation, all laws, regulations
and ordinances pertaining to air and water quality, Hazardous Materials as
herein defined, waste disposal, air emissions, and other environmental
matters.  As used herein, Hazardous
Material means any hazardous or toxic substance, material, or waste, including
but not limited to those substances, materials, and waste listed in the U.S.
Department of Transportation Hazardous Materials Table or by the U.S.
Environmental Protection Agency as hazardous substances and amendments thereto,
petroleum products, or such other substances, materials, and waste that are or
become regulated under any applicable local, state, or federal law.  Neither Lessee nor Lessor is required to make
any alterations to comply with the Americans with Disabilities Act.

 

(2e)                            The
Lessee shall regularly occupy and use the Premises for the conduct of Lessee’s
business, and shall not abandon or vacate the Premises for more than ten days
without written approval of Lessor.

 

(2f)                              Except
in the ordinary course of Lessee’s business, Lessee shall not cause or permit
any Hazardous Material to be brought upon, kept or used in or about the
Premises by Lessee, its agents, employees, contractors, or invitees without the
prior written consent of Lessor, which consent will not be unreasonably
withheld so long as Lessee demonstrates to Lessor’s reasonable satisfaction
that such Hazardous Material is necessary or useful to Lessee’s business and
will be used, kept, and stored in a manner that will comply at all times with
all laws regulating any such Hazardous Material so brought upon or used or kept
on or about the Premises.

 

Utilities.

 

(3)                                  The
Lessee shall pay for all heat, light, water, power, and other services or
utilities used in the Premises during the term of this lease.

 

Repairs and
Improvements.

 

(4a)                            The
Lessor shall not be required to make any repairs, alterations, additions or
improvements to or upon the Premises during the term of this lease, except only
those hereinafter specifically provided for; the Lessee hereby agrees to maintain
and keep the Premises, including all interior and exterior walls and doors,
ordinary maintenance of heating, ventilating and cooling systems, interior
wiring, plumbing and drain pipes to sewers or septic tank, in good order and
repair during the entire term of this lease, at Lessee’s own cost and expense,
and to replace all glass which may be broken or damaged during the term hereof
in the windows and doors of the Premises with glass of as good or better
quality as that now in use; it is further agreed that the

 

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Lessee may make alterations, additions or improvements to or upon the
Premises without first obtaining the consent of the Lessor.

 

(4b)                           The
Lessor agrees to make all necessary structural repairs to the building,
including exterior walls, foundation, roof, gutters and downspouts, and the
abutting sidewalks.  Lessor shall also
make all capital repairs and replacements to the Premises unless such is necessitated
solely by Lessee’s failure to maintain in accordance with subsection 4(a).  The Lessor reserves and at any and all times
shall have the right to alter, repair or improve the building of which the
Premises are a part, or to add thereto, and for that purpose at any time may
erect scaffolding and all other necessary structures about and upon the
Premises and Lessor and Lessor’s representatives, contractors and workers for
that purpose may enter in or about the Premises with such materials as Lessor
may deem necessary therefor, and Lessee waives any claim to damages, including
loss of business resulting therefrom, provided Lessor gives Lessee not less
than 48 hours’ advance notice and such activities are conducted without
material interference with Lessee’s use of the Premises.

 

Lessor’s Right of Entry.

 

(5)                                  It
shall be lawful for the Lessor, the Lessor’s agents and representatives, at any
reasonable time upon 48 hours’ advance notice to enter into or upon the
Premises for the purpose of examining into the condition thereof, or for any
other lawful purpose.

 

Right of
Assignment.

 

(6)                                  The
Lessee will not assign, transfer, pledge, hypothecate, surrender or dispose of
this lease, or any interest herein, sublet, or permit any other person or
persons whomsoever to occupy the Premises without the written consent of the
Lessor being first obtained in writing; this lease is personal to Lessee;
Lessee’s interests, in whole or in part, cannot be sold, assigned, transferred,
seized or taken by operation at law, or under or by virtue of any execution or
legal process, attachment or proceedings instituted against the Lessee, or
under or by virtue of any bankruptcy or insolvency proceedings had in regard to
the Lessee, or in any other manner, except as above mentioned.  Notwithstanding any provision in this Lease,
Lessee may, without Lessor consent, execute and deliver one or more leasehold
mortgages (or leasehold trust deeds) to any lender to Lessee with respect
hereto.

 

Liens.

 

(7)                                  The
Lessee will not permit any lien of any kind, type or description to be placed
or imposed upon the Lessee’s interest in improvements in which the Premises are
situated, or any part thereof, or Lessee’s interest in the land on which they
stand, other than a leasehold deed of trust or leasehold mortgage granted by
Lessee in favor of Bank of America, as Administrative Agent and Wachovia Bank,
National Association, as Collateral Agent and Syndication Agent and the
successors and assigns thereof (collectively “Senior
Lien”) and a leasehold deed of trust or leasehold mortgage granted
by Lessee in favor of Tennenbaum Capital Partners, LLC and the successors and
assigns thereof (“Junior Lien”).

 

4

 

Ice, Snow, Debris

 

(8)                                  If
the Premises are located at street level, then at all times Lessee shall keep
the sidewalks in front of the Premises free and clear of ice, snow, rubbish,
debris and obstruction; and if the Lessee occupies the entire building, the
Lessee will not permit rubbish, debris, ice or snow to accumulate on the roof
of the building so as to stop up or obstruct gutters or downspouts or cause
damage to the roof, and will save harmless and protect the Lessor against any
injury whether to Lessor or to Lessor’s property or to any other person or
property caused by Lessee’s failure in that regard.

 

Overloading of
Floors.

 

(9)                                  The
Lessee will not overload the floors of the Premises in such a way as to cause
any undue or serious stress or strain upon the building in which the Premises
are located, or any part thereof, and the Lessor shall have the right, at any
time, to call upon any competent engineer or architect whom the Lessor may
choose, to decide whether or not the floors of the Premises, or any part
thereof, are being overloaded so as to cause any undue or serious stress or
strain on the building, or any part thereof, and the decision of the engineer
or architect shall be final and binding upon the Lessee; and in the event that
it is the opinion of the engineer or architect that the stress or strain is
such as to endanger or injure the building, or any part thereof, then and in
that event the Lessee agrees immediately to relieve the stress or strain,
either by reinforcing the building or by lightening the load which causes such
stress or strain, in a manner satisfactory to the Lessor.

 

(10)                            Intentionally
Blank.

 

Liability
Insurance.

 

(11)                            At
all times during the term hereof, the Lessee will, at the Lessee’s own expense,
keep in effect and deliver to the Lessor liability insurance policies in form,
and with an insurer, satisfactory to the Lessor.  Such policies shall insure both the Lessor
and the Lessee against all liability for damage to persons or property in,
upon, or about the Premises.  It shall be
the responsibility of the Lessee to purchase casualty insurance with extended
coverage so as to insure any structure on the Premises against damage caused by
fire or the effects of fire (smoke, heat, means of extinguishment, etc.), or
any other means of loss and to insure all of the Lessee’s belongings upon the
Premises, of whatsoever nature, against the same.  With respect to these policies, Lessee shall
cause the Lessor to be named as an additional insured party.  Lessee agrees to and shall indemnify and hold
Lessor harmless against any and all claims and demands arising from the
negligence of the Lessee, Lessee’s officers, agents, invitees and/or employees,
as well as those arising from Lessee’s failure to comply with any covenant of
this lease on Lessee’s part to be performed, and shall at Lessee’s own expense
defend the Lessor against any and all suits or actions arising out of such
negligence, actual or alleged, and all appeals therefrom and shall satisfy and
discharge any judgment which may be awarded against Lessor in any such suit or
action.

 

5

 

Fixtures.

 

(12)                            All
partitions, plumbing, electrical wiring, additions to or improvements upon the
Premises, whether installed by the Lessor or Lessee, shall be and become a part
of the building in which the Premises are located as soon as installed and the
property of the Lessor unless otherwise herein provided.  Notwithstanding any other provisions of this
Lease, Lessee’s furniture, trade fixtures, equipment and personal property
shall at all times remain the property of Lessee.

 

Light and Air.

 

(13)                            This
lease does not grant any rights of access to light and air over the Premises or
any adjacent property.

 

Damage by
Casualty, Fire and Duty to Repair.

 

(14)                            In
the event of the destruction of the improvements in which the Premises are
located by fire or other casualty, either party hereto may terminate this lease
as of the date of fire or casualty, provided, however, that in the event of
damage to the improvements by fire or other casualty to the extent of
twenty-five (25) per cent or more of the sound value thereof, Lessor or Lessee
may elect to terminate the lease as of the date of such damage by written
notice thereof to the other party. 
Absent such termination by either party or if the improvements in which
the Premises are located be but partially destroyed and the damage so
occasioned shall not amount to the extent indicated above, then the Lessor
shall repair the same with all convenient speed and shall have the right to
take possession of and occupy, to the exclusion of the Lessee, all or any part
thereof in order to make the necessary repairs, and the Lessee hereby agrees to
vacate upon request, all or any part thereof which the Lessor may require for
the purpose of making necessary repairs, and for the period of time between the
day of such damage and until such repairs have been substantially completed
there shall be such an abatement of rent as the nature of the injury or damage
and its interference with the occupancy of the Premises by the Lessee shall
warrant; however, if the Premises be but slightly injured and the damage so
occasioned shall not cause any material interference with the occupation of the
Premises by Lessee, then there shall be no abatement of rent and the Lessor
shall repair the damage with all convenient speed.

 

Waiver of Subrogation
Rights.

 

(15)                            Neither
the Lessor nor the Lessee shall be liable to the other for loss arising out of
damage to or destruction of the Premises, or the building or improvement of
which the Premises are a part or with which they are connected, or the contents
of any thereof, when such loss is caused by any of the perils which are or
could be included within or insured against by a standard form of fire
insurance with extended coverage, including sprinkler leakage insurance, if
any. All such claims for any and all loss, however caused, hereby are waived.
Such absence of liability shall exist whether or not the damage or destruction
is caused by the negligence of either Lessor or Lessee or by any of their
respective agents, servants or employees. It is the intention and agreement of
the Lessor and the Lessee that the rentals reserved by this lease have been
fixed in contemplation that both parties shall fully provide their own
insurance protection at their own expense, and that both parties shall look to their
respective insurance carriers for

 

6

 

reimbursement of
any such loss, and further, that the insurance carriers involved shall not be
entitled to subrogation under any circumstances against any party to this
lease. Neither the Lessor nor the Lessee shall have any interest or claim in
the other’s insurance policy or policies, or the proceeds thereof, unless
specifically covered therein as a joint insured.

 

Eminent Domain.

 

(16)                            In
case of the condemnation or purchase of all or any substantial part of the
Premises by any public or private corporation with the power of condemnation
this lease may be terminated, effective on the date possession is taken or
title is transferred, by either party hereto on written notice to the other and
in that case the Lessee shall not be liable for any rent after the termination
date.

 

(17)                            Intentionally
blank.

 

Delivering Up
Premises on Termination.

 

(18)                            At
the expiration of the lease term or upon any sooner termination thereof, the
Lessee will quit and deliver up the Premises and all future erections or
additions to or upon the same, broom-clean, to the Lessor or those having
Lessor’s estate in the Premises, peaceably, quietly, and in as good order and
condition as when received, reasonable use and wear thereof, damage by fire,
unavoidable casualty and the elements alone and other events not required
hereunder to be repaired by Lessee excepted, as the same are now in or
hereafter may be put in by the Lessor.

 

Additional
Covenants or Exceptions.

 

(19)                            Intentionally
blank.

 

(20)                            Lessee
shall reimburse Lessor upon demand for all premiums for casualty insurance with
extended coverage purchased by Lessee to insure any structure on the Premises.

 

(21)                            Lessee
shall pay when due all taxes, assessments and public charges on the Premises.

 

Attachment
Bankrupt Default.

 

PROVIDED, ALWAYS,
and these presents are upon these conditions, that (1) if the Lessee shall
be in arrears in the payment of rent for a period of ten days after the same becomes
due, or (2) if the Lessee shall fail or neglect to perform or observe any
of the covenants and agreements contained herein on Lessee’s part to be done,
kept, performed and observed and such default shall continue for twenty days or
more after written notice of such failure or neglect shall be given to Lessee,
except that if the failure is of such a nature that it cannot be remedied fully
within the 20-day period, this requirement shall be satisfied if Lessee begins
correction of the failure within the 20-day period and thereafter proceeds with
reasonable diligence and in good faith to effect the remedy as soon as
practicable, or (3) if the Lessee shall be declared bankrupt or insolvent
according to law, or (4) if any assignment of all or substantially all of
Lessee’s property shall be made for the benefit of creditors, or (5) if on
the expiration of this lease Lessee

 

7

 

fails to surrender possession of the Premises, the Lessor or those
having Lessor’s estate in the Premises, may terminate this lease and, lawfully,
at Lessor’s option immediately or at any time thereafter, without demand or
notice, enter into and upon the Premises and every part thereof and repossess
the same, and expel Lessee and those claiming by, through and under Lessee and
remove Lessee’s effects at Lessee’s expense, forcibly if necessary and store
the same, all without being deemed guilty of trespass and without prejudice to
any remedy which otherwise might be used for arrears of rent or preceding
breach of covenant.

 

Neither the termination of this lease by
forfeiture nor the taking or recovery of possession of the Premises shall
deprive Lessor of any other action, right, or remedy against Lessee for
possession, rent or damages, nor shall any omission by Lessor to enforce any
forfeiture, right or remedy to which Lessor may be entitled be deemed a waiver
by Lessor of the right to enforce the performance of all terms and conditions
of this lease by Lessee.

 

In the event of any re-entry by Lessor,
Lessor may lease or relet the Premises in whole or in part to any tenant or
tenants who may be satisfactory to Lessor, for any duration, and for the best
rent, terms and conditions as Lessor may reasonably obtain. Lessor shall apply
the rent received from any such tenant first to the cost of retaking and
reletting the Premises, including remodeling required to
obtain any such tenant, and then to any arrears of rent and future rent
payable under this lease and any other damages to which Lessor may be entitled
hereunder.

 

Any property which Lessee leaves on the
Premises more than ten (10) days after abandonment or expiration of the
lease, or for more than ten days after any termination of the lease by Lessor,
shall be deemed to have been abandoned, and Lessor may remove and sell the
property at public or private sale as Lessor sees fit, without being liable for
any prosecution therefor or for damages by reason thereof, and the net proceeds
of any such sale shall be applied toward the expenses of Lessor and rent as
aforesaid, and the balance of such amounts, if any, shall be held for and paid
to the Lessee.

 

Holding Over.

 

In the event the Lessee for any reason shall
hold over after the expiration of this lease, such holding over shall not be
deemed to operate as a renewal or extension of this lease, but shall only
create a tenancy at sufferance which may be terminated at will at any time by
the Lessor.

 

Attorney Fees
and Court Costs.

 

In case suit or action is instituted to
enforce compliance with any of the terms, covenants or conditions of this
lease, or to collect the rental which may become due hereunder, or any portion
thereof, the losing party agrees to pay the prevailing party’s reasonable
attorney fees incurred throughout such proceeding, including at trial, on
appeal, and for post-judgment collection. The Lessee agrees to pay and
discharge all Lessor’s costs and expenses, including Lessor’s reasonable
attorney’s fees that shall arise from enforcing any provision or covenants of
this lease even though no suit or action is instituted.

 

Should the Lessee be or become the debtor in
any bankruptcy proceeding, voluntarily, involuntarily or otherwise, either
during the period this lease is in effect or while there exists any outstanding
obligation of the Lessee created by this lease in favor of the Lessor, the
Lessee

 

8

 

agrees to pay the
Lessor’s reasonable attorney fees and costs which the Lessor may incur as the
result of Lessor’s participation in such bankruptcy proceedings. It is
understood and agreed by both parties that applicable federal bankruptcy law or
rules of procedure may affect, alter, reduce or nullify the attorney fee
and cost awards mentioned in the preceding sentence.

 

Waiver.

 

Any waiver by the Lessor of any breach of any
covenant herein contained to be kept and performed by the Lessee shall not be
deemed or considered as a continuing waiver, and shall not operate to bar or
prevent the Lessor from declaring a forfeiture for any succeeding breach,
either of the same condition or covenant or otherwise.

 

Recitals.

 

The recitals of this Lease are hereby
incorporated in to this Lease and made a part hereof.

 

Notices.

 

Any notice required by the terms of this
lease to be given by one party hereto to the other or desired so to be given,
shall be sufficient if in writing, contained in a sealed envelope, and sent
first class mail, with postage fully prepaid, and if intended for the Lessor
herein, then if addressed to the Lessor at DFA, LLC c/o Ahern Rentals, Inc.,
4241 S. Arville Street, Las Vegas, Nevada 
89103 and if intended for the Lessee, then if addressed to the Lessee at
Ahern Rentals, Inc., 4241 S. Arville Street, Las Vegas, Nevada  89103. 
Any such notice shall be deemed conclusively to have been delivered to
the addressee forty-eight hours after the deposit thereof in the U.S. Mail.

 

Heirs and
Assigns.

 

All rights, remedies and liabilities herein
given to or imposed upon either of the parties hereto shall extend to, inure to
the benefit of and bind, as the circumstances may require, the heirs,
successors, personal representatives and so far as this lease is assignable by
the terms hereof, to the assigns of such parties.

 

In construing this lease, it is understood
that the Lessor or the Lessee may be more than one person; that if the context
so requires, the singular pronoun shall be taken to mean and include the
plural, and that generally all grammatical changes shall be made, assumed and
implied to make the provisions hereof apply equally to corporations and to
individuals.

 

9

 

IN
WITNESS WHEREOF, the parties have executed this Lease
on the day and year first hereinabove written, any corporate signature of
Lessee being by due authority of its Board of Directors and any signature of
Lessor being by due authority of its managing member.

 

	
  Lessor:

  	
  Lessee:

  
	
  DFA, LLC

  	
  AHERN RENTALS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   /s/ DON F. AHERN

  	
   

  	
  By:

  	
   /s/ DON F. AHERN

  	
   

  
	
   

  	
  Don F. Ahern, Manager

  	
   

  	
  Don F. Ahern, President

  
									

 

10

 

EXHIBIT A

 

LEGAL
DESCRIPTION

 

That portion
of the Southwest Quarter (SW1⁄4) of the Southwest Quarter (SW1⁄4) of Section 1,
Township 50 South, Range 61 East, M.D.M., more particularly known as:

 

Lot Two (2) as
shown by map thereof on file in File 88 of Parcel Maps, Page 38, in the
Office of the County Recorder of Clark County, Nevada.EXHIBIT 10.12

 

AMENDED
AND RESTATED LEASE

 

THIS AMENDED AND
RESTATED LEASE (this “Lease”)
is entered into this 27th day of October, 2004 between DFA, LLC (“Lessor”) and AHERN RENTALS, INC. (“Lessee”).

 

RECITALS

 

A.                                   By
Indenture of Lease dated May 1, 2004 (the “Original Lease”), Lessor leased to Lessee those certain
premises, as is, situated in the City of Las Vegas, County of Clark and State
of Nevada, and described as follows: Property located at 1714 West Bonanza
Road, Las Vegas, NV 89106, as more particularly described on the attached Exhibit A (the “Premises”).

 

B.                                     Lessor
and Lessee desire to amend, restate and supersede the Original Lease as of the
date of this Lease.  Lessor and Lessee
hereby agree that the Original Lease is hereby amended, restated and superseded
in its entirety effective as of the date of this Lease and Lessor hereby leases
the Premises to Lessee, and Lessee hereby leases the Premises from Lessor, on
the terms and conditions set forth in this Lease.

 

TERMS
AND CONDITIONS

 

Term.

 

1(a)                            The
term of this Lease shall commence on the date of this Lease and continue
through October 27, 2014, unless sooner terminated.

 

Rental.

 

1(b)(1)             Lessee
shall pay to Lessor as rent for the Premises the sum of $3,200 per month during
the first year of the lease term.

 

1(b)(2)             Commencing
on November 1, 2005 and on each November 1st (each, an “Annual Rent Adjustment Date”) during the
remainder of the lease term, the monthly rent payment shall be increased by an
amount equal to the greater of (i) three percent (3%) of the rent paid for
the prior year, or (ii) the same percentage as the percentage increase in
the Consumer Price Index
comparing the figure for the month prior to the month in which the adjustment
is to occur with the figure for the same month in the preceding year, except
that if the rent is adjusted pursuant to Section 1(b)(3) the
percentage under this clause (ii) to be used for calculating the
applicable increase in rent to commence on the next Annual Rent
Adjustment Date following a Major Improvement Rent Adjustment Date (as defined
in Section 1(b)(3) below) shall mean the same percentage as the
percentage increase in the Consumer Price
Index comparing the figure for the month prior to the month in which
the adjustment is to occur with the figure for the month prior to the preceding
Major Improvement Rent Adjustment Date. 
Comparisons shall be made using the Index
for the U.S. City Average — All Urban Wage Earners published by the
U.S. Department of Labor, Bureau of Labor Statistics.  If that Index is discontinued, the parties
shall use the nearest comparable index measuring changes in the cost of living
during the period involved.

 

1

 

1(b)(3)             In
the event during the term of this Lease, Lessor constructs any Major
Improvement (defined below) on the Premises for Lessee’s benefit, beginning on
the first day of the second calendar month following the date of completion of
the Major Improvement (a “Major Improvement
Rent Adjustment Date”) the monthly rent shall be adjusted to be the
fair market rental value of the Premises as of the completion of the Major
Improvement, provided in no event shall the monthly rent be less than the
monthly rent in effect immediately prior to the construction of the Major Improvement.  Upon completion of the Major Improvement, the
parties shall discuss and attempt to determine by mutual agreement the monthly
rent to be paid beginning on the Major Improvement Rent Adjustment Date.  If the parties are unable to reach agreement
before the 30th day following the completion of the Major
Improvement, the matter shall be determined by appraisal.

 

If an appraiser is required under this Section 1(b)(3),
the monthly rent shall be determined by a qualified, independent real property
appraiser familiar with commercial rental values in the area.  The appraiser shall be selected by Lessee
from a list of not fewer than three such individuals submitted by Lessor.  If Lessee does not make the selection within
ten days after submission of the list, Lessor may do so.  If Lessor does not submit such a list within
ten (10) days after written request from Lessee to do so, Lessee may name
as an appraiser any individual with such qualifications.  Within thirty (30) days after appointment,
the appraiser shall furnish to both parties an appraisal of the fair market
rental value of the Premises, which shall be final and binding on the
parties.  The cost of the appraisal shall
be borne equally by the parties.

 

For purpose of this Lease “Major Improvement” shall mean a structure
erected at the request of the Lessee as a permanent improvement on the Premises
that is intended to enhance the value of the Premises or an addition made at
the request of the Lessee that increases the size of a building on the Premises
or the size of the Premises.

 

1(b)(4)             Rent
will be paid in advance on the first day of each month to Lessor at the address
for Lessor set forth in this Lease, or at such other address as Lessor may
designate in writing to Lessee.  Rent is
uniformly apportionable day to day.

 

Use of Premises.

 

(2a)                            The
Lessee shall use the Premises during the term of this lease for the conduct of
the following business: operations of an equipment rental company and for no
other purpose whatsoever without Lessor’s written consent.

 

(2b)                           The
Lessee will not make any unlawful, improper or offensive use of the Premises;
the Lessee will not suffer any strip or waste thereof; the Lessee will not
permit any objectionable noise or odor to escape or to be emitted from the
Premises or do anything or permit anything to be done upon or about the
Premises in any way tending to create a nuisance; the Lessee will not sell or
permit to be sold any product, substance or service upon or about the Premises,
excepting in the ordinary course of Lessee’s business or such as Lessee may be
licensed by law to sell and as may be herein expressly permitted.

 

(2c)                            The
Lessee will not cause the Premises at any time to fall into such a state of
repair or disorder as to increase the fire hazard thereon; the Lessee will not
install any power

 

2

 

machinery on the Premises except in the ordinary course of Lessee’s
business or under the supervision and with written consent of the Lessor; the
Lessee will not store gasoline or other highly combustible materials on the
Premises at any time except in the ordinary course of Lessee’s business; the
Lessee will not use the Premises in such a way or for such a purpose that the
fire insurance on the improvements on the Premises is thereby cancelled.

 

(2d)                           The
Lessee shall comply at Lessee’s own expense with all laws and regulations of
any municipal, county, state, federal or other public authority respecting the
use of the Premises. These include, without limitation, all laws, regulations
and ordinances pertaining to air and water quality, Hazardous Materials as
herein defined, waste disposal, air emissions, and other environmental
matters.  As used herein, Hazardous
Material means any hazardous or toxic substance, material, or waste, including
but not limited to those substances, materials, and waste listed in the U.S.
Department of Transportation Hazardous Materials Table or by the U.S.
Environmental Protection Agency as hazardous substances and amendments thereto,
petroleum products, or such other substances, materials, and waste that are or
become regulated under any applicable local, state, or federal law.  Neither Lessee nor Lessor is required to make
any alterations to comply with the Americans with Disabilities Act.

 

(2e)                            The
Lessee shall regularly occupy and use the Premises for the conduct of Lessee’s
business, and shall not abandon or vacate the Premises for more than ten days
without written approval of Lessor.

 

(2f)                              Except
in the ordinary course of Lessee’s business, Lessee shall not cause or permit
any Hazardous Material to be brought upon, kept or used in or about the
Premises by Lessee, its agents, employees, contractors, or invitees without the
prior written consent of Lessor, which consent will not be unreasonably
withheld so long as Lessee demonstrates to Lessor’s reasonable satisfaction
that such Hazardous Material is necessary or useful to Lessee’s business and
will be used, kept, and stored in a manner that will comply at all times with
all laws regulating any such Hazardous Material so brought upon or used or kept
on or about the Premises.

 

Utilities.

 

(3)                                  The
Lessee shall pay for all heat, light, water, power, and other services or
utilities used in the Premises during the term of this lease.

 

Repairs and Improvements.

 

(4a)                            The
Lessor shall not be required to make any repairs, alterations, additions or
improvements to or upon the Premises during the term of this lease, except only
those hereinafter specifically provided for; the Lessee hereby agrees to maintain
and keep the Premises, including all interior and exterior walls and doors,
ordinary maintenance of heating, ventilating and cooling systems, interior
wiring, plumbing and drain pipes to sewers or septic tank, in good order and
repair during the entire term of this lease, at Lessee’s own cost and expense,
and to replace all glass which may be broken or damaged during the term hereof
in the windows and doors of the Premises with glass of as good or better
quality as that now in use; it is further agreed that the

 

3

 

Lessee may make alterations, additions or improvements to or upon the
Premises without first obtaining the consent of the Lessor.

 

(4b)                           The
Lessor agrees to make all necessary structural repairs to the building,
including exterior walls, foundation, roof, gutters and downspouts, and the
abutting sidewalks.  Lessor shall also
make all capital repairs and replacements to the Premises unless such is
necessitated solely by Lessee’s failure to maintain in accordance with subsection 4(a).  The Lessor reserves and at any and all times
shall have the right to alter, repair or improve the building of which the
Premises are a part, or to add thereto, and for that purpose at any time may
erect scaffolding and all other necessary structures about and upon the
Premises and Lessor and Lessor’s representatives, contractors and workers for
that purpose may enter in or about the Premises with such materials as Lessor
may deem necessary therefor, and Lessee waives any claim to damages, including
loss of business resulting therefrom, provided Lessor gives Lessee not less
than 48 hours’ advance notice and such activities are conducted without
material interference with Lessee’s use of the Premises.

 

Lessor’s Right of Entry.

 

(5)                                  It
shall be lawful for the Lessor, the Lessor’s agents and representatives, at any
reasonable time upon 48 hours’ advance notice to enter into or upon the
Premises for the purpose of examining into the condition thereof, or for any
other lawful purpose.

 

Right of Assignment.

 

(6)                                  The
Lessee will not assign, transfer, pledge, hypothecate, surrender or dispose of
this lease, or any interest herein, sublet, or permit any other person or
persons whomsoever to occupy the Premises without the written consent of the
Lessor being first obtained in writing; this lease is personal to Lessee;
Lessee’s interests, in whole or in part, cannot be sold, assigned, transferred,
seized or taken by operation at law, or under or by virtue of any execution or
legal process, attachment or proceedings instituted against the Lessee, or
under or by virtue of any bankruptcy or insolvency proceedings had in regard to
the Lessee, or in any other manner, except as above mentioned.  Notwithstanding any provision in this Lease,
Lessee may, without Lessor consent, execute and deliver one or more leasehold
mortgages (or leasehold trust deeds) to any lender to Lessee with respect
hereto.

 

Liens.

 

(7)                                  The
Lessee will not permit any lien of any kind, type or description to be placed
or imposed upon the Lessee’s interest in improvements in which the Premises are
situated, or any part thereof, or Lessee’s interest in the land on which they
stand, other than a leasehold deed of trust or leasehold mortgage granted by
Lessee in favor of Bank of America, as Administrative Agent and Wachovia Bank,
National Association, as Collateral Agent and Syndication Agent and the
successors and assigns thereof (collectively “Senior
Lien”) and a leasehold deed of trust or leasehold mortgage granted
by Lessee in favor of Tennenbaum Capital Partners, LLC and the successors and
assigns thereof (“Junior Lien”).

 

4

 

Ice, Snow, Debris

 

(8)                                  If
the Premises are located at street level, then at all times Lessee shall keep
the sidewalks in front of the Premises free and clear of ice, snow, rubbish,
debris and obstruction; and if the Lessee occupies the entire building, the
Lessee will not permit rubbish, debris, ice or snow to accumulate on the roof
of the building so as to stop up or obstruct gutters or downspouts or cause
damage to the roof, and will save harmless and protect the Lessor against any
injury whether to Lessor or to Lessor’s property or to any other person or
property caused by Lessee’s failure in that regard.

 

Overloading of Floors.

 

(9)                                  The
Lessee will not overload the floors of the Premises in such a way as to cause
any undue or serious stress or strain upon the building in which the Premises
are located, or any part thereof, and the Lessor shall have the right, at any
time, to call upon any competent engineer or architect whom the Lessor may
choose, to decide whether or not the floors of the Premises, or any part
thereof, are being overloaded so as to cause any undue or serious stress or
strain on the building, or any part thereof, and the decision of the engineer
or architect shall be final and binding upon the Lessee; and in the event that
it is the opinion of the engineer or architect that the stress or strain is
such as to endanger or injure the building, or any part thereof, then and in
that event the Lessee agrees immediately to relieve the stress or strain,
either by reinforcing the building or by lightening the load which causes such
stress or strain, in a manner satisfactory to the Lessor.

 

(10)                            Intentionally
Blank.

 

Liability Insurance.

 

(11)                            At
all times during the term hereof, the Lessee will, at the Lessee’s own expense,
keep in effect and deliver to the Lessor liability insurance policies in form,
and with an insurer, satisfactory to the Lessor.  Such policies shall insure both the Lessor
and the Lessee against all liability for damage to persons or property in,
upon, or about the Premises.  It shall be
the responsibility of the Lessee to purchase casualty insurance with extended
coverage so as to insure any structure on the Premises against damage caused by
fire or the effects of fire (smoke, heat, means of extinguishment, etc.), or
any other means of loss and to insure all of the Lessee’s belongings upon the
Premises, of whatsoever nature, against the same.  With respect to these policies, Lessee shall
cause the Lessor to be named as an additional insured party.  Lessee agrees to and shall indemnify and hold
Lessor harmless against any and all claims and demands arising from the
negligence of the Lessee, Lessee’s officers, agents, invitees and/or employees,
as well as those arising from Lessee’s failure to comply with any covenant of
this lease on Lessee’s part to be performed, and shall at Lessee’s own expense
defend the Lessor against any and all suits or actions arising out of such
negligence, actual or alleged, and all appeals therefrom and shall satisfy and
discharge any judgment which may be awarded against Lessor in any such suit or
action.

 

5

 

Fixtures.

 

(12)                            All
partitions, plumbing, electrical wiring, additions to or improvements upon the
Premises, whether installed by the Lessor or Lessee, shall be and become a part
of the building in which the Premises are located as soon as installed and the
property of the Lessor unless otherwise herein provided.  Notwithstanding any other provisions of this
Lease, Lessee’s furniture, trade fixtures, equipment and personal property
shall at all times remain the property of Lessee.

 

Light and Air.

 

(13)                            This
lease does not grant any rights of access to light and air over the Premises or
any adjacent property.

 

Damage by Casualty, Fire and Duty to Repair.

 

(14)                            In
the event of the destruction of the improvements in which the Premises are
located by fire or other casualty, either party hereto may terminate this lease
as of the date of fire or casualty, provided, however, that in the event of
damage to the improvements by fire or other casualty to the extent of
twenty-five (25) per cent or more of the sound value thereof, Lessor or Lessee
may elect to terminate the lease as of the date of such damage by written
notice thereof to the other party. 
Absent such termination by either party or if the improvements in which
the Premises are located be but partially destroyed and the damage so
occasioned shall not amount to the extent indicated above, then the Lessor
shall repair the same with all convenient speed and shall have the right to
take possession of and occupy, to the exclusion of the Lessee, all or any part
thereof in order to make the necessary repairs, and the Lessee hereby agrees to
vacate upon request, all or any part thereof which the Lessor may require for
the purpose of making necessary repairs, and for the period of time between the
day of such damage and until such repairs have been substantially completed
there shall be such an abatement of rent as the nature of the injury or damage
and its interference with the occupancy of the Premises by the Lessee shall
warrant; however, if the Premises be but slightly injured and the damage so
occasioned shall not cause any material interference with the occupation of the
Premises by Lessee, then there shall be no abatement of rent and the Lessor
shall repair the damage with all convenient speed.

 

Waiver of Subrogation Rights.

 

(15)                            Neither
the Lessor nor the Lessee shall be liable to the other for loss arising out of
damage to or destruction of the Premises, or the building or improvement of
which the Premises are a part or with which they are connected, or the contents
of any thereof, when such loss is caused by any of the perils which are or
could be included within or insured against by a standard form of fire
insurance with extended coverage, including sprinkler leakage insurance, if
any. All such claims for any and all loss, however caused, hereby are waived.
Such absence of liability shall exist whether or not the damage or destruction
is caused by the negligence of either Lessor or Lessee or by any of their
respective agents, servants or employees. It is the intention and agreement of
the Lessor and the Lessee that the rentals reserved by this lease have been
fixed in contemplation that both parties shall fully provide their own
insurance protection at their own expense, and that both parties shall look to
their respective insurance carriers for

 

6

 

reimbursement of any such loss, and further, that the insurance
carriers involved shall not be entitled to subrogation under any circumstances
against any party to this lease. Neither the Lessor nor the Lessee shall have
any interest or claim in the other’s insurance policy or policies, or the
proceeds thereof, unless specifically covered therein as a joint insured.

 

Eminent Domain.

 

(16)                            In
case of the condemnation or purchase of all or any substantial part of the
Premises by any public or private corporation with the power of condemnation
this lease may be terminated, effective on the date possession is taken or
title is transferred, by either party hereto on written notice to the other and
in that case the Lessee shall not be liable for any rent after the termination
date.

 

(17)                            Intentionally
blank.

 

Delivering Up Premises on Termination.

 

(18)                            At
the expiration of the lease term or upon any sooner termination thereof, the
Lessee will quit and deliver up the Premises and all future erections or
additions to or upon the same, broom-clean, to the Lessor or those having
Lessor’s estate in the Premises, peaceably, quietly, and in as good order and
condition as when received, reasonable use and wear thereof, damage by fire,
unavoidable casualty and the elements alone and other events not required
hereunder to be repaired by Lessee excepted, as the same are now in or
hereafter may be put in by the Lessor.

 

Additional Covenants or Exceptions.

 

(19)                            Intentionally
blank.

 

(20)                            Lessee
shall reimburse Lessor upon demand for all premiums for casualty insurance with
extended coverage purchased by Lessee to insure any structure on the Premises.

 

(21)                            Lessee
shall pay when due all taxes, assessments and public charges on the Premises.

 

Attachment Bankrupt Default.

 

PROVIDED, ALWAYS,
and these presents are upon these conditions, that (1) if the Lessee shall
be in arrears in the payment of rent for a period of ten days after the same
becomes due, or (2) if the Lessee shall fail or neglect to perform or
observe any of the covenants and agreements contained herein on Lessee’s part
to be done, kept, performed and observed and such default shall continue for
twenty days or more after written notice of such failure or neglect shall be
given to Lessee, except that if the failure is of such a nature that it cannot
be remedied fully within the 20-day period, this requirement shall be satisfied
if Lessee begins correction of the failure within the 20-day period and
thereafter proceeds with reasonable diligence and in good faith to effect the
remedy as soon as practicable, or (3) if the Lessee shall be declared
bankrupt or insolvent according to law, or (4) if any assignment of all or
substantially all of Lessee’s property shall be made for the benefit of
creditors, or (5) if on the expiration of this lease Lessee

 

7

 

fails to surrender possession of the Premises, the Lessor or those
having Lessor’s estate in the Premises, may terminate this lease and, lawfully,
at Lessor’s option immediately or at any time thereafter, without demand or
notice, enter into and upon the Premises and every part thereof and repossess
the same, and expel Lessee and those claiming by, through and under Lessee and
remove Lessee’s effects at Lessee’s expense, forcibly if necessary and store
the same, all without being deemed guilty of trespass and without prejudice to
any remedy which otherwise might be used for arrears of rent or preceding
breach of covenant.

 

Neither the termination of this lease by
forfeiture nor the taking or recovery of possession of the Premises shall
deprive Lessor of any other action, right, or remedy against Lessee for
possession, rent or damages, nor shall any omission by Lessor to enforce any
forfeiture, right or remedy to which Lessor may be entitled be deemed a waiver
by Lessor of the right to enforce the performance of all terms and conditions
of this lease by Lessee.

 

In the event of any re-entry by Lessor,
Lessor may lease or relet the Premises in whole or in part to any tenant or
tenants who may be satisfactory to Lessor, for any duration, and for the best
rent, terms and conditions as Lessor may reasonably obtain. Lessor shall apply
the rent received from any such tenant first to the cost of retaking and
reletting the Premises, including remodeling required to obtain any such
tenant, and then to any arrears of rent and future rent payable under this
lease and any other damages to which Lessor may be entitled hereunder.

 

Any property which Lessee leaves on the
Premises more than ten (10) days after abandonment or expiration of the
lease, or for more than ten days after any termination of the lease by Lessor,
shall be deemed to have been abandoned, and Lessor may remove and sell the
property at public or private sale as Lessor sees fit, without being liable for
any prosecution therefor or for damages by reason thereof, and the net proceeds
of any such sale shall be applied toward the expenses of Lessor and rent as
aforesaid, and the balance of such amounts, if any, shall be held for and paid
to the Lessee.

 

Holding Over.

 

In the event the Lessee for any reason shall
hold over after the expiration of this lease, such holding over shall not be
deemed to operate as a renewal or extension of this lease, but shall only
create a tenancy at sufferance which may be terminated at will at any time by
the Lessor.

 

Attorney Fees and Court Costs.

 

In case suit or action is instituted to
enforce compliance with any of the terms, covenants or conditions of this
lease, or to collect the rental which may become due hereunder, or any portion
thereof, the losing party agrees to pay the prevailing party’s reasonable
attorney fees incurred throughout such proceeding, including at trial, on
appeal, and for post-judgment collection. The Lessee agrees to pay and
discharge all Lessor’s costs and expenses, including Lessor’s reasonable
attorney’s fees that shall arise from enforcing any provision or covenants of
this lease even though no suit or action is instituted.

 

Should the Lessee be or become the debtor in
any bankruptcy proceeding, voluntarily, involuntarily or otherwise, either
during the period this lease is in effect or while there exists any outstanding
obligation of the Lessee created by this lease in favor of the Lessor, the
Lessee

 

8

 

agrees to pay the Lessor’s reasonable attorney fees and costs which the
Lessor may incur as the result of Lessor’s participation in such bankruptcy
proceedings. It is understood and agreed by both parties that applicable
federal bankruptcy law or rules of procedure may affect, alter, reduce or
nullify the attorney fee and cost awards mentioned in the preceding sentence.

 

Waiver.

 

Any waiver by the Lessor of any breach of any
covenant herein contained to be kept and performed by the Lessee shall not be
deemed or considered as a continuing waiver, and shall not operate to bar or
prevent the Lessor from declaring a forfeiture for any succeeding breach, either
of the same condition or covenant or otherwise.

 

Recitals.

 

The recitals of this Lease are hereby
incorporated in to this Lease and made a part hereof.

 

Notices.

 

Any notice required by the terms of this
lease to be given by one party hereto to the other or desired so to be given,
shall be sufficient if in writing, contained in a sealed envelope, and sent
first class mail, with postage fully prepaid, and if intended for the Lessor
herein, then if addressed to the Lessor at DFA, LLC c/o Ahern Rentals, Inc.,
4241 S. Arville Street, Las Vegas, Nevada 
89103 and if intended for the Lessee, then if addressed to the Lessee at
Ahern Rentals, Inc., 4241 S. Arville Street, Las Vegas, Nevada  89103. 
Any such notice shall be deemed conclusively to have been delivered to
the addressee forty-eight hours after the deposit thereof in the U.S. Mail.

 

Heirs and Assigns.

 

All rights, remedies and liabilities herein
given to or imposed upon either of the parties hereto shall extend to, inure to
the benefit of and bind, as the circumstances may require, the heirs,
successors, personal representatives and so far as this lease is assignable by
the terms hereof, to the assigns of such parties.

 

In construing this lease, it is understood
that the Lessor or the Lessee may be more than one person; that if the context
so requires, the singular pronoun shall be taken to mean and include the
plural, and that generally all grammatical changes shall be made, assumed and
implied to make the provisions hereof apply equally to corporations and to
individuals.

 

9

 

IN WITNESS WHEREOF,
the parties have executed this Lease on the day and year first hereinabove
written, any corporate signature of Lessee being by due authority of its Board
of Directors and any signature of Lessor being by due authority of its managing
member.

 

	
  Lessor:

  	
  Lessee:

  
	
  DFA, LLC

  	
  AHERN RENTALS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   /s/ DON F. AHERN

  	
   

  	
  By:

  	
   /s/ DON F. AHERN

  	
   

  
	
   

  	
  Don F. Ahern, Manager

  	
   

  	
  Don F. Ahern, President

  
								

 

10

 

EXHIBIT A

 

LEGAL
DESCRIPTION

 

That portion
of the Northeast Quarter (NE 1⁄4) of the Southwest Quarter (SW 1⁄4) of Section 28,
Township 28 South, Range 61 East M.D.B. & M., described as follows:

 

BEGINNING at a
point on the North line of U.S. Highway No. 95, known also as Bonanza Road
(70 feet wide), a distance thereon South 89°26’ East, 734.4 feet from the point
of intersection of said North line with the West line of the Northeast
Quarter (NE 1⁄4) of the Southwest Quarter (SW 1/4) of said Section 28; said point of beginning is further
described as the Southwest Corner (SW Cor.) of that certain parcel of land
conveyed to Ed Oberbeck and Rif Oberbeck, by Deed recorded April 17, 1951
as Document No. 368646 of Clark County, Nevada Records; thence North 00°10’50”
West along the West line of the said conveyed parcel a distance of 250 feet to
the Northwest Corner (NW Cor.) thereof thence North 89°26’ West a distance of
100 feet to a point; thence South 00°10’50” East and parallel with the West
line of said conveyed parcel distance 250 feet to a point on the North line of
Highway No. 95; thence South 89°26’ East along the last mentioned North
line a distance of 100 feet to the POINT OF BEGINNING.

 

EXCEPTING
THEREFROM THE Southerly 15.00 feet of said land conveyed to the City of Las
Vegas, a Municipal Corporation for roads and incidental purposes in a Deed
filed in the Office of the Clark County Recorder on July 22, 1986 in Book
860722, as Document No. 00649, Official Records.

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