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<br />Return to: Advantage Title, 503 West Koenig, Grand Island, NE 68801
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<br />LEASE AGREE ENT
<br />Dated: June , 2012
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<br />THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and
<br />JEFFREY L. VODEHNAL and BARBARA J. VODEHN�AL, Husband and Wife, as Joint Tenants
<br />and not as tenants in common, LESSEES.
<br />i. Description of Leased Premises:
<br />Lot Five (5), having a lake frontage of 88 feet; situated on the East side
<br />of the West portion of Kuester Lake, and being a part of the East Half of
<br />the Southwest Quarter (E'/SW%4) of Section Thirteen (13), Township
<br />Eleven (11) North, Range Nine (9) in Hall County, Nebraska.
<br />Such lot is as shown on the plat in the possession of the Lessor.
<br />2. Term of Lease: Thirty-five (35) years, comrnencing June 1, 2012, and terminating
<br />June f � , 2047.
<br />3. Option to Extend Term: Lessees have the option to extend the term of this Lease for
<br />an additional 35 years by giving Lessor notice thereof, in writing, by January �, 2047.
<br />4. Ripht to Assianment of Lease: Lessees have the right to assign this Lease provided:
<br />(a) Lessees have complied with all terms o� this Lease.
<br />(b) Lessees transfer to the new owner all in�terest and ownership of the
<br />Lessees in the common stock of Kuester Lake, Inc.
<br />(c) The new Lessees agree, in writing, to abide by the terms of the
<br />Lease so assigned, any new Lease of tMese premises, and to abide
<br />by the Agreement entered into by this L�ssees' predecessors in title
<br />with Kuester Lake, Inc, on or about November 4, 1974, the terms of
<br />which are incorporated herein by reference.
<br />(d) The new Lessees shall be entitled to a new Lease for a 35-year
<br />term. The term may be longer if consented to by the Lessor.
<br />(e) Any subleasing must have the Lessor's approval.
<br />(fl The Lessees have the absolute right to conditionally assign this
<br />Lease to any mortgagee for the purpose of fumishing such
<br />mortgagee additional security.
<br />5. Rent. The Lessees shall pay to Lessor, as �nnual rent, payable in advance and on or
<br />before July first each year, such rent as may be annually determined by the Lessor under the
<br />following formula:
<br />The annual rent shall be an amount, ea�h year, equal to the result
<br />of dividing the total number of residenti�l lessee-stockholder lots
<br />into that year's anticipated net budget n�eds of the Lessor.
<br />The computation of the annual rent shall be done by the Lessor, but shall be uniform among all
<br />lessee-stockholders of Kuester Lake, Inc. In any event the annual rent of the Lessees shall not
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