Electra Ad Sign Co. v. Cedar Rapids Truck Center

SCHULTZ, Justice.

In 1973 defendant, Cedar Rapids Truck Center, Inc. (Truck Center), entered into a ten-year lease agreement with plaintiff, Electra Ad Sign Company, Inc. (Electra), for a billboard advertisement located near Truck Center’s place of business. In 1975 the lease agreement was modified to allow Truck Center to suspend rental payments for a period of six months. The modification agreement provided that the suspended payments, totaling $2,280, could be paid any time prior to, but not later than, the expiration date of the lease, but that said amount would earn interest from October…