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� � � � 78- U00475 LEASE AGREEMENT FOREST��E§��Ee�tl�r�IJ2�A��ER LAKE, INC., LESSOR, and � (as joint tenants) (as �tenants in common). as sole owner) (strilce out � portion not applicable) whether onef� �r� , ��-lslce front footage of 72 feet, sitnated on the west side of tl�e �lest��$-�� R�e� 'ing a pert of the E74SW3L in Section 13� Toaaship 11, Range 9, in Hall County, Nebr. bounded on'the" Westerly eide by the common road; such lot is as shown on a plat in the gossession aS the 2. Term f lease: . 1@sBOr. ?3� Y��Bt��e�}�g August 12� 1977 and termi.nating 3. Option to extend term: Lessee has the option to extend the term of this lease £or an additional 35 years by giving Lessor notice thereof, in writing, ; by July l, 2009. 4. Riaht to assianment of lease: Lessee has the right to assign this lease provided - (a) Lessee has complied with all terms of this lease. (b) Lessee transfers to the new owner all interest and ownership of the Lessee in the common stocls of Kuester Lake, Inc. (c) The new Lessee agrees, in writing, to abide by the terms of the lease so assigned, any new lease for these premises, and to abide by the Agreement entered into by this Lessee with Kuester Lake, Inc. on or about Novembe� 4, 1974, the terms of which are incorporated herein by reference. - (d) The new Lessee shall be entitled to a new lease for a 35 year term. The term may be longer if consented to by the Lessor. (e} Any sub-leasing must have the Lessor's approval. (f) The Lessee has the absolute right to conditionally assign this lease to any mortgagee for the purpose of furnishing such mortgagee additional security_ 5. Rent: The Lessee shall pay to L essor, as annual rent, payable in advance and on or before July f irst each year, such rent as may be annually determined by the Lessor under the following formula: The annual rent shall be an amount, each year, equal to the result of dividing the total number of residential lessee-stocicholder lots into that year's anticipated net budget needs of the Lessor. The computation o£ �the annual rent shall be done by the Lessor, but shall be uniform among all lessee-stockholders of Kuester Lake, Inc. In any event, the annual rent of the Lessee shall not exceed One Fiundred Dollars ($100.00) unless a majority of all lessee-stockholders of Kuester Lalce, Inc. (one vote for each share) , present and voting � at a special meeting called for tha�t purpose, shall approve the same. 6. Access� The Lessee shall have access from tlze leased premises onto the Lessor's roads and shall also have the right to use the lake for boating, swimming and fisl-iing. 'I�hese access t rights are in common with the other leaseholders at ..: Kuester Lalce. _ � 6-a- Prior Leases: � �� ' x1 T'his lease replaces and supersedes any prior lease for said � • premises which the lessee or his predecessors in title may � � have held. i P:- .,.:`, ..� �. �;.. ; � �