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� April 26, 1978 �g, UU2485 LEASE AGREEMENT I TFiIS AGREEMENT entered into between KUESTER LAXE, SNC., LESSOR, and I JAMES E. CASSEY and MARGARET A. CASSEY (as joint tenants) ( (strike out portion not applicable) w'hether one or more, LESSEE. ' l. Descrit�tion of leased nremises: Lots 16 and 17, having a lake front footage of 190 feet, situatedon the East side of the West portion of Kuestez Lake and being a part of the E'� SW� in Section 13, Township 11, Range 9, in Hall County, Nebraska, bounded on the Easterly side by the common road; such lots are as shown 2. T2rm of lease- on plat in the possession of Lessor. ��years, commencing April 26, 1978 and terminating Avril 26, 2013 3. Option to extend termc Lessee has the option to extend the term of this lease £or an additional 35 years by giving Lessor notice thereo£, in writing, bY July 1, 2012. 4. Riaht to assicrnment 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 t2ze common stocic of Kuester La7te, Snc. (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, =nc. on or about Novembe� 4, 1974, the terms of w'tiicYi are incorporated herein by reference. (d) The new Lessee shall be entitled to a new lease £or ; a 35 year term. T'he term may be ,longer if consented to by the Lessor. (e) Any sub-leasing must 2-iave 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 Lessor, as annual rent, payable in advance and on or before July first 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 I.essee-stockholder lots into that year� s anticipated net budget needs of the Lessor. The computation of the annual rent sha11 be done by the Lessor, but shall be uniform among all lessee-stochholders of Kuester Lake, =nc. In any event, the annual rent of the Lessee shall not exceed One Hundred Dollars ($100.00) unless a majority of all lessee-stocicholders of Kuester Lake, Inc. Cone vote for each share) , present and voting ,!f at a special meeting called for that purpose, shall � approve the same. 6. Access- A The Lessee shall have access frora the leased premises onto 't the Lessor's roads and shall also have the right to use i the lake for boating, swimming and fishing. These access '. rights are in common with the other leaseholdars at '� Kuester La7ce. -- �{ i 6-a_ Prior Leases- I � This lease replaces�and supersedes any prior lease for said J '�' ' premises which the lessee or his predecessors in title may ;�� have Yield. j ,., �: E �