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F 15-111(tP. - ..
<br /> .-1-4111 •
<br /> '107 LEAS �-
<br /> •• AGREEMENT, dated the 22nd day of August ,1950
<br /> by and between Har old Ely. an Individual doing business as II-Need-A-Rest "Lessor,"
<br /> Service Station
<br /> whose post-office address is Grand Island, Nebraska
<br /> a
<br /> Q 'and CONTINENTAL OIL COMPANY, a Delaware corporation, hereinafter called "Lessee," having a place of
<br /> business at Lincoln, Nebraska
<br /> (1) Premises Leased. Lessor hereby leases unto Lessee a tract of land with the improvements thereon,
<br /> limits
<br /> (except any improvements owned by Lessee) in the outside of Grand Island on Highway 281. ,
<br /> •
<br /> County of Hall , State of Nebraska ® ,described as follows:
<br /> That part of the following described ground occupied by the service station build• ,
<br /> ing or buildings hereinafter described, and driveways (so far as the use of such
<br /> driveways is necessary for the operation of service station), and that part of sai .
<br /> ground necessary for the operation of service station to wit:•
<br /> A part of the Northeast quarter of the Northeast quarter (NEI. of NE ) of Sec.33,in
<br /> Township 11, North Range 9, west of the Sixth P.M.,the same being a rectangular
<br /> plot of ground containing 18 acres, a little more or less, and more particularly
<br /> described as follows:-Commencing at a point on the east line of the above describe.
<br /> section 460.1 feet in a southerly-direction from the Northeast corner of said sec-
<br /> tion, thence in a westerly direction and parallel of the north line of said sectio.
<br /> 1331.5 ft.,thence in a southerly direction 589.3 ft.,thence in an easterly direc•
<br /> tion 1330.9 ft.,thence in a northerly direction 597.8 ft.,to the place of begin-
<br /> ning.
<br /> Together with all fixtures and equipment thereon, (except any of the same belonging to Lessee) and all appur-
<br /> tenances thereto and all right, title and interest of Lessor in and to any and all roads, streets and ways bounding
<br /> the said premises.
<br /> (2) Term. TO HAVE AND TO HOLD for the term of Five_ . years from 12 o'clock noon
<br /> of the 22nd day of August ,19_50_,to 12 o'clock noon of the 22nd day of
<br /> Augpst --,19555— If this lease is for more than one year it shall be subject to termination by
<br /> Lessee at the end of the first year dr any subsequent year prior to end of term upon thirty (30) days' written notice
<br /> from Lessee to Lessor. Lessee shall have the option to renew this lease under the same terms and conditions for
<br /> additional periods of one year,not exceeding_Eig8 years in the aggregate, provided Lessee exercises said
<br /> option by giving Lessor written notice of such intent at least 30 days prior to the termination of this lease.
<br /> (3) Rental. Lessee agrees to pay the following rent for said premises:
<br /> Three-fourths (3/4) cent per gallon on all gasoline •
<br /> delivered by Lessee into tanks located on the above
<br /> described premises.
<br /> •
<br /> The rental provided herein shall be paid on or before the 15th day of the month next following the month in
<br /> which the sale is made.
<br /> (4) Maintenance. (a) Lessor agrees to maintain said premises and improvements (except any improve-
<br /> ments owned by Lessee) in good repair during the term of this lease (except as hereafter in sub-section "(b)" of
<br /> this clause provided), and to rebuild within sixty (60) days any structures and equipment on said premises (except
<br /> any structures or equipment owned by Lessee) which may be damaged or destroyed in any manner,or which may
<br /> become worn out or unfit for use by reason of ordinary wear and tear.In the event of Lessor's failure so to do,Lessee,'
<br /> at its election,may either terminate the lease on thirty (30) days' written notice to Lessor, in which event rentals
<br /> shall abate from the date of destruction or damage,or do the necessary repairing or rebuilding at the expense of
<br /> Lessor and have the right to apply accruing rentals for the purpose of reimbursing itself for principal expenditures,
<br /> together with interest at six per cent per annum. ,If during the time the premises are undergoing repairs, the use
<br /> thereof by Lessee is materially interfered with,the rental accruing during such period shall be abated.
<br /> (b) During the term of this lease, Lessee shall maintain all mechanical equipment owned by Lessee in good
<br /> repair,and,whenever it deems necessary,shall paint structures or equipment on said premises, but Lessee shall not
<br /> be required to rebuild or replace any such equipment.
<br /> (5) Removal of Property. Lessee shall have the right at any time during the continuance of this lease or
<br /> within thirty (30) days after its termination to sever and remove all improvements, fixtures, equipment and other
<br /> property of Lessee placed on said premises by Lessee or any predecessor in interest of Lessee during the term of
<br /> this or any previous lease,or any extension or renewal thereof.
<br /> (6) Lessee's Right of Termination. Should Lessee be prevented from establishing or continuing the business
<br /> of distributing petroleum products on said premises by statute,legal regulation, or ordinance, or order of any court
<br /> prohibiting such business on said premises or in case of condemnation of said premises or a major portion thereof for
<br /> any public purpose,Lessee may terminate this lease upon giving thirty (30) days'written notice to Lessor,in which
<br /> event the rental obligation shall be prorated to the date of such termination.
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<br /> X77
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