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0 <br />Return to: Advantage Title Services, 503 West Koenig, Grand Island, NE 68801 <br />The annual rent shall be an amount, each year, equal to the result <br />of dividing the total number of residential lessee - stockholder Tots <br />into that year's anticipated net budget needs of the Lessor. <br />I. Description of Leased Premises: <br />Lot Three (3), having a lakefront footage of One Hundred (100) feet <br />situated on the East side of the West portion of Kuester Lake and being a <br />part of the East Half of the Southwest Quarter (E'/SW' /), in Section <br />Thirteen (13), Township Eleven (11) North, Range Nine (9) West of the <br />6 P.M., Hall County, Nebraska, commonly known as Kuester Lake #58, <br />Hall County, Nebraska. <br />LEASE AGREEMENT <br />Dated: August 1, 2014 <br />THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and DEBRA <br />A. BAKER, a single person, LESSEE. <br />Such lot is as shown on the plat in the possession of the Lessor. <br />2. Term of Lease: Thirty -five (35) years, commencing August 1, 2014, and terminating <br />July 31, 2049. <br />3. Option to Extend Term: Lessee has the option to extend the term of this Lease for an <br />additional 35 years by giving Lessor notice thereof, in writing, by February 1, 2049. <br />4. Right to Assignment of Lease: Lessee has the right to assign this Lease provided: <br />(a) Lessee has complied with all terms of this Lease. <br />(b) Lessee transfers to the new owner all interest and ownership of the <br />Lessee in the common stock of Kuester Lake, Inc. <br />(c) The new Lessee agrees, in writing, to abide by the terms of the <br />Lease so assigned, any new Lease of these premises, and to abide <br />by the Agreement entered into by this Lessee's 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 Lessee 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 />(f) The Lessee has the absolute right to conditionally assign this Lease <br />to any mortgagee for the purpose of furnishing such mortgagee <br />additional security. <br />1 5. Rent. The Lessee shall pay to Lessor, as annual 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 />1 <br />