§ 2.

Said Elevator Company shall use and occupy the said premises for the sole and exclusive purpose of constructing and maintaining thereon a grain leg for the handling, shipping, and forwarding of grain on the Mississippi River between the City of Minneapolis and other points, until Jan. 1, 1965, and the term may be extended for five years thereafter, or for successive five year periods, by further agreement between said Elevator Company and the City Council of the City of Minneapolis.