Is it possible to renegotiate an inherited billboard contract?

[Peyton Zachrich]

A self-storage facility I bought a few months back has a large billboard with a market rate of about $400-500/month, but the prior owner signed a contract that provided an easement to Lynd for a period of 10 years, starting in 2013, for only $130/month. 

I would like to renegotiate this with Lynd to something more reasonable, but I'm not sure if I have any leverage or means of getting out of a bad contract as a new owner. It was an asset sale so the contract would not implicate me, but the easement on the property itself doesn't seem like something I can take back. Let me know if anyone has experience negotiating inherited billboard agreements like this.