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<br /> LEASE "SHORT FORM"
<br /> THIS LEASE made in duplicate this l- � day of August, 1955, by
<br /> and between James Webb joined pro forma by Eva Webb, his wife, both of
<br /> Hall County, Nebraska, herein referred to as Lessor, and Charles S.
<br /> Van Eaton and George W. Martin, co-partners doing business as George W.
<br /> Martin & Company, a co-partnership, doing business under the laws of the
<br /> State of Nebraska, having its principal place of business in Grand Island,
<br /> Hall County, Nebraska, herein referred to as Lessee, WITNESSETH:
<br /> FOR AND IN CONSIDERATION of the sum of One Dollar and other
<br /> valuable consideration paid and to be paid by the Lessee to the Lessor,
<br /> the Lessor does demise and let unto the Lessee and the Lessee does lease
<br /> ana take from the Lessor upon the terms and conditions and subject to the
<br /> limitations more particularly set forth in a certain agreement between
<br /> the Lessor and the Lessee bearing even date herewith (hereinafter referred
<br /> to as the "Agreement.") the premises sisutaed in the City of Grand Island,
<br /> county of Hall, State of Nebraska, together with the improvements thereon
<br /> and more particularly described as' "All of Lots One (1), Two (2), Three (3)
<br /> and Four (4), in Block Fifty-three (53) of the Original Town, now City
<br /> of Grand Island, excepting the Southerly Fifteen (15) Feet of such Lot
<br /> One (1), and the Southerly Fifteen (15) Feet of the Easterly Twenty-four
<br /> (24) Feet of such Lot Two (2); together with any and all right, title and
<br /> interest in and to such Southerly Fifteen (15) Feet of such Lot One (1),
<br /> and Southerly Fifteen (15) Feet of the Easterly Twenty-four (24) Feet of
<br /> such Lot Two (2), as may hereafter revert to the Lessor herein and .and by
<br /> virtue of the provisions of a deed of conveyance dated June 12, 1916, as -
<br /> recorded in Book 49, at Page 619 of the Deed Records, Hall County, Nebraska."
<br /> TO HAVE AND TO HOLD the same for the term of ten (10) years, to
<br /> commence on the first day of August, 1955 and end on the 31st day of July,
<br /> 1965 at midnight unless sooner terminated as in the Agreement provided.
<br /> The Lessor agrees that if the Lessee shall not be in default in
<br /> performing any of Lessee's obligations under this lease, Lessee shall have
<br /> and is hereby granted an option to extend the term of this lease for any
<br /> period of time not exceeding five (5) years, such extended term to begin
<br /> upon the expiration of the term of this lease and all the terms, covenants
<br /> and provisions of this lease shall apply to the extended term. If the
<br /> Lessee shall elect to exercise the aforesaid option, itshall be done by giving
<br /> to the Lessor notice in writing of such intention to do so not later than
<br /> one (1) year prior to the expiration of the term of this lease agreement,
<br /> and said noticee, shall state the date to which Lessee elects to extend the
<br /> term of this agreement and lease.
<br /> The Lessor further agrees that if the Lessee shall not be in
<br /> default in performing any of its obligations under this Lease Agreement
<br /> and if it shall have exercised the first option contained in the preceding
<br /> paragraph, Lessee shall have and is hereby granted a second (2nd) option
<br /> to further extend the term of this Lease Agreement for any period of time
<br /> not exceeding five (5) years, such further extended term to begin with
<br /> the expiration of the term of this lease and all the terms, covenants and
<br /> provisions of this lease shall apply to said further extended term, with
<br /> the exception, however, that the Lessee shall not have an option to
<br /> again extend the term of this lease. If the Lessee shall elect to exercise
<br /> this second (2nd) option as contained in this paragraph, Lessee shall do
<br /> so by giving to the Lessor notice in writing of such intention_to do so
<br /> not later than one (1) year prior to the expiration of the term of this
<br /> (1) _ .
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