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20�20324� 15. Termination of Lease bv Default of Lessee. if the Lessees fail, after ninety (90) days prior written notice from the Lessor, to remedy any default in his or her compliance with any of the obligations binding upon him or her under this Lease Agreement, or under the Rules and Regulations fumished him or her by the Lessor, the Lessor may, at its option, terminate this Lease and retake possession of the leased premises but only after the following procedure has been complied with: (a} A special meeting of all stockholders of Lessor shall be called by the Board of Directors of Lessor, and written notice of such meeting and its purposes be given all such stockholders. Such meeting shall be called for the purpose of determining by majority vote of the stockholders of Lessor, present and voting, as to whether or not termination of Lessee's Lease should be made because of a default by the Lessees. At least ten (10) days written notice shall be given of any such meeting, and the Lessees shall be given full opportunity to show why his or her Lease should not be terminated. (b) If a majority of the stockholders of Lessor, present and voting at such meeting, determines that Lessees are in default under this Lease and that the same should be terminated, the Lessees shall have one hundred twenty (120) days within which to remove his or her improvements on said premises; and, if he or she fails to remove the same within such 120 days, the Lessor and the Lessees shall join in a public auction of the improvements remaining upon said leased premises, and the net proceeds from any such sale shall be applied as follows: FIRST in the payment of any unpaid rents or other amounts owing by Lessees to Lessor; SECOND any remaining proceeds, subject to the rights of mortgagees, shall be paid to the Lessees. The Lessor agrees to give a new Lease to a suitable purchaser at such public auction. THIS LEASE AGREEMENT shall bind the Lessor and the Lessee and his personal representatives, successors, devisees, legatees, heirs-at-law, and assigns. STATE OF NEBRASKA, COUNTY OF HALL ) ss. The foregoing instrument was acknowledged before me this �`�� day of September, 2011, by Eric R. Christenson, president of Kuester Lake, Inc., a Nebraska corporation, on behalf of the corporation. ' �� tAlt+�TARIf-�tootNebra� Notary ubli � �� STATE OF NEBRASKA, COUNTY OF HALL ) ss. �C��/ The foregoing instrument was acknowledged before me this � day o�September, 2011, by LaDonna E. Enyeart and Michael Enyeart ssees. � ^ GENEAAINOTARY-� Nebraska Notary Public DUANE A. BURNS 3 My Comm. E�p. March 28, 2012 KUES�� LAKE, IN . By CO . J� . Eric R. Christenson, Its President � rnn�r�