I. Just compensation shall be paid to the owner of the advertising device and to the owner of the land upon which it is located upon the removal, on or after January 1, 1970, of any such device required to be removed by reason of nonconformity with the provisions of this subdivision which is lawfully existing on January 1, 1970 or lawfully erected thereafter, provided no compensation shall be paid to the owner of any advertising device or to the owner of the land on which it is located if the reason for removal was failure to obtain a license or permit pursuant to RSA 236:71 and 72.
II. Each such removal, whether by the owner of the advertising device, by the commissioner of transportation, or otherwise, shall be deemed to constitute a taking by the state of the following:
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I. Just compensation shall be paid to the owner of the advertising device and to the owner of the land upon which it is located upon the removal, on or after January 1, 1970, of any such device required to be removed by reason of nonconformity with the provisions of this subdivision which is lawfully existing on January 1, 1970 or lawfully erected thereafter, provided no compensation shall be paid to the owner of any advertising device or to the owner of the land on which it is located if the reason for removal was failure to obtain a license or permit pursuant to RSA 236:71 and 72.
II. Each such removal, whether by the owner of the advertising device, by the commissioner of transportation, or otherwise, shall be deemed to constitute a taking by the state of the following:
(a) From the owner of such device, all right, title and interest in and to such device, and his leasehold related thereto.
(b) From the owner of the real property on which such device is located, the right to erect and maintain such device.
III. The foregoing right to compensation of the owner of land shall be in lieu of any right to receive or retain rental from the owner of such device for the sign location for the period after removal of such device, and such right to receive or retain rental shall terminate upon such removal.
IV. Such compensation shall be paid to the person or persons entitled thereto upon presentation to the commissioner of such information as he may reasonably require, provided that the claim for compensation is filed within 90 days after removal is completed.
V. If the commissioner and a claimant do not reach agreement on the amount of compensation payable to such claimant in respect to any removal within 120 days after the filing of such claim, the claimant may institute an action to have such compensation determined as an assessment of damages suffered by the claimant as of the date of the removal. Such an action shall be instituted by filing a petition for assessment of damages in the superior court, in the county wherein the advertising device and land are located, or wherein the claimant resides or has its principal place of business in this state. The petition shall be filed no later than one year after the filing with the commissioner of such compensation claim. The court shall assess the damages by jury, or by the court without the jury, and award interest from the date as of which damages are assessed, and costs, to the claimant.
VI. If funds become available, the commissioner of transportation is authorized to negotiate the removal of advertising devices prior to the end of the 5-year period and is authorized to pay just compensation.
VII. The provisions of RSA 498-A relative to eminent domain procedures shall not apply to this subdivision.