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stockholders of Lessor, present and voting, as to whether or not <br />termination of Lessee's Lease should be made because of a default <br />by the Lessee. At least ten (10) days written notice shall be given of <br />any such meeting, and the Lessee shall be given full opportunity to <br />show why her Lease should not be terminated. <br />(b) If a majority of the stockholders of Lessor, present and voting at <br />such meeting, determines that Lessee is in default under this Lease <br />and that the same should be terminated, the Lessee shall have one <br />hundred twenty (120) days within which to remove her <br />improvements on said premises; and, if she fails to remove the <br />same within such 120 days, the Lessor and the Lessee shall join in <br />a public auction of the improvements remaining upon said leased <br />premises, and the net proceeds from any such sale shall be applied <br />as follows: <br />FIRST in the payment of any unpaid rents or other amounts owing <br />by Lessee to Lessor; <br />SECOND any remaining proceeds, subject to the rights of mortgagees, shall be <br />paid to the Lessee. The Lessor agrees to give a new Lease to a suitable <br />purchaser at such public auction. <br />THIS LEASE AGREEMENT shall bind the Lessor and the Lessee and her personal <br />representatives, successors, devisees, legatees, heirs -at -law, and assigns. <br />GENERAL NOTARY - State of Nebraska <br />LORI J. READY <br />*Comm. Exp. Feb. 11, 2015 <br />I Jell GENERAL NOTARY- State of Nebraska <br />ELIZABETH A. GARDUNO <br />My Conga. Exp. March 2, 2017 <br />KUESTER LAKE, INC. <br />B <br />William P. Jeffries, It <br />Ge.)ca-pti- e-$ q-.4.0.-/ <br />Wanda Defrehn, Trustee, and Successors In <br />Trust under the Wanda I. Defrehn Trust of 2013, <br />LESSEE <br />STATE OF NEBRASKA, COUNTY OF HALL ) ss. <br />The foregoing instrument was acknowledged before me this 15 day of July, 2014, by <br />William P. Jeffries, president of Kuester Lake, Inc., a Nebraska corporation, on behalf of the <br />corporation. <br />Notary Public <br />02 <br />201404467 <br />'d - nt <br />LESSOR <br />STATE OF NEBRASKA, COUNTY OF HALL) ss. <br />The foregoing instrument was acknowledged before me this /g day of July, 2014, by <br />Wanda Defrehn, Trustee, and Successors in Trust under the Wanda I. Defrehn Trust of 2013, <br />Lessee. <br />3 <br />