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shall pay city the sum of $16rOOO annually as rent <br />for each approved and constructed outdoor <br />advertising sign structure for a total annual <br />rental amount of $160,000 as provided in the <br />Lease. Such annual rental amount shall be <br />increased by five percent (5%) on the fifth year <br />after commencement of the Lease and upon each <br />succeeding fifth year, as provided in the Lease. <br />b) To issue in a timely manner, or to cause to be <br />issued in a timely manner by the appropriate City <br />agencies and officials, so that Adams may commence <br />construction as soon as practicable, all permits <br />necessary to locate and construct the ten <br />Billboard structures contemplated by this <br />Agreement as sites are selected, which sites shall <br />be approved by the City Manager. <br />3. Adams covenants and agree& as follows: <br />a) Adams shall make a prepayment of the rental due <br />under the Lease in the amount of $80rOOO within <br />thirty (30) days of issuance of all necessary <br />permits, including cups, variances and <br />encroachment permits to begin construction of the <br />first five outdoor advertising sign structures., as <br />-2- <br />