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<br /> LEAS� AGREEMENT
<br /> THIS AGREEMENT entered into between KU:7STER LAKE, INC., LESSOFt, and
<br /> % � 7VA}+j 5':'iTk`tFf�i' ��_._.__-�. .�....�.,. 4_...���.�..�..�..�._
<br /> � �� ) ( � (as sole owne.r)~(strike out
<br /> portion not; applicable) whether one or more, LESSEE_
<br /> l. Descrintion of leased nremises: �t '3'3 '� ��$ nartharly one-ha2f af Lot 1Lr,
<br /> having a lake frant foata�e oY 75 �'g�'�,
<br /> �itvatpd an th� 1�Vest aide ot th+e '.:`est portion oP Kuester Lak� and beis�a, arti a part crY
<br /> th� Fr�SW� in Sectian 1�, Town�stsip 'll� Hange 9� in Ha11 wounty, Nebr.�, boundad ory thes
<br /> v���to� aide�b� tho camman road; such lot is aa shown ori a plet in the ,.oasdssaian of
<br /> rm o easectha Zas or.
<br /> .�Tyears, comme�iicing ��a„� �q7� and terminating
<br /> Au¢u;at �1� ?�l2
<br /> 3. Option to'extend termc
<br /> Lessee has the option to extend the term of this lease for an
<br /> ` additional 35 years by giving Lessor notice thereof, in writing,
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<br /> b1r Suly l, Y�L ?_{33.]..
<br /> 4. Ricfht to assiqnment of lease:
<br /> ,; Lessee has t2ze 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
<br /> ownership of the Less2e in the common stoc7t of
<br /> '. Kuester Lake, Inc. i
<br /> (c) The new Lessee agrees, in writing, to abide by the
<br /> ; terms ot tiie lease so assigned, any new lease for
<br /> t these premises, and to abide by the Agreement
<br /> entered into by -this Lessee with Kuester Lake, Inc.
<br /> an or about Novembe'r 4, 1974, the terms of which
<br /> are incorporated herein by reference.
<br /> (d) The new Lessee shall be entitled to a new lease £or
<br /> ! a 35 year term. T�:ze term may be longer if consented
<br /> ` to by the Lessor.
<br /> ' (e) Any sub-leasing must have the Lessor' s approval.
<br /> (£) The Lessee has the absolute right to conditionally
<br /> assign this lease to any mortgagee for the purpose
<br /> of furnishing such mortgagee additional security.
<br /> ' 5. Rent•
<br /> � � The Lessee shall pay to Lessor, as annual rent, payable in
<br /> advance and on or before July £irst each year, such rent as
<br /> may be annually determined by the Lessor under the following
<br /> t formula: �
<br /> ? The annual rent shall be an amount, each year,
<br /> , equal to the result of dividing the total
<br /> ; number oi residential lessee-stockholder lots
<br /> into ihat year' s anticipated net budget needs
<br /> of the Lessor.
<br /> ' The computation of the annual rent shall be done by the
<br /> Lessor, but shall be uniform amonq all lessee-stocicholders
<br /> � of Kuester Lahe, Inc. In any event, the annual rent of
<br /> t't�e Lessee stiall not exceed One Hundred Dollars ($10�.00)
<br /> unless a majority of all lessee-stoc�c7iolders of Kuester
<br /> La3ce, Inc. (one vote for each share) , present and voting
<br /> at a special meeting called for that purpose, shall
<br /> approve the same.
<br /> 6. Access-
<br /> Tne Lessee sizail i�ave accass fro: t:.a la�.s=d r=em�ses er.to
<br /> ` the Lessor's roads and shall also have the right to use
<br /> the lake for boating, swimming and fishing_ These access
<br /> rights are in common with the other leaseholders at
<br /> Kuester I�a7ce- ,
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<br /> ` 6-a.' Prior Leases: 4; sr � '.",
<br /> �E TYiis lease replaces and supersedes any prior lease for said
<br /> premises which the iessee or 'tiis predecessors in title may ,�
<br /> r
<br /> have held. ,;�;'
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