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200101705
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<br />filed for record JanupLxy, 29th, 1973 1:00 P M, in Book 24 .of Miscellaneous
<br />Page �Be�ister of peels, Hall Counly, .Nebraska
<br />LEASE AGREEMENT
<br />THIS LEASE AGREEMENT, made and entered into this `' (clay
<br />of January, 1973, by and between HALL COUNTY LIVESTOCK IMPROVEMENT
<br />ASSOCIA'T'ION, a Nebraska non - profit corporation, hereinafter referred
<br />to as Lessor; and ELWOOD K. SHELTON and LYNN BLAND SHELTON, husband
<br />and wife, as joint tenants with right of survivorship and not as tenants
<br />in common, hereinafter referred to as Lessee.
<br />WITNESSETII: That for and in consideration of thn mutual
<br />covenants herein contained and the valuable consideration paid,
<br />the Lessor does hereby lease and let unto the Lessee, the real
<br />estate in Grand Island, Hall County, Nebraska, which is described
<br />on Exhibit "A" attached hereto and made a part hereof by this
<br />reference; together with ingress and egress upon existing roads
<br />or as otherwise agreed.
<br />This lease is made upon the following terms and conditions:
<br />1. Term of Lease and Rental. The Lessor by this Lease
<br />Agreement does lease and let the above described premises to
<br />the Lessee for the period of thirty (30) years, beginning on
<br />the first day of January, 1973, and ending on the 31st day of
<br />December, 2002.
<br />The Lessee covenants and agrees to pay as rent for the premises
<br />for the term stated above a total_ rental. Payment of One noll,ar.
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<br />2. 'faxes and Special Assessments. The Lessee agrees to
<br />pay all taxes or special assessments on the leased premises during
<br />the term of this Lease.
<br />3. Utilities. The Lessee agrees to pay for all water,
<br />electricity, gas and other utilities used by Lessee on the leased
<br />premises during the term of this Lease.
<br />4. Insurance. The Lessee agrees to carry and maintain
<br />public liability insurance in the amount of at least $500,000.00,
<br />single limit, by policies of insurance issued by responsible
<br />insurance companys authorized to do, business in the State of
<br />Nebraska, fully protecting the Lessee and the Lessor against
<br />any loss, damage, or claim therefor in any manner connected with
<br />or arising by reason of, the use of the premises by Lessee, and
<br />fully protecting the Lessee and Lessor against any loss, damage,
<br />or claim arising in any manner to any member of the public, in,
<br />upon, or about the leased premises. Lessee, prior to occupying
<br />the leased premises, shall furnish to Lessor a certificate evidencing
<br />the fact that such insurance has been procured and that it is
<br />in full force and effect, and further that the same cannot be
<br />terminated without reasonable notice to the Lessor.
<br />5. The Lessee shall use the premises to construct and operate
<br />an Equine Hospital for the treatment and surgery of horses.
<br />Because the availability of the facility and services is a basic
<br />part of the consideration running to Lessor on this lease, it
<br />is specifically understood and agreed that Lessee may not use
<br />the premises for any other use or purpose without the prior written
<br />consent of Lessor, and that Lessor may withhold that consent
<br />without cause.
<br />G. Assignment or Subletting. The Lessee shall not assign
<br />this Lease nor sublet all or any portion of the leased premises
<br />except with the written consent of the Lessor. Lessor shall
<br />have the right to withhold its consent without cause.
<br />7. Construction, Alteration, and Im rovement by Lessee.
<br />The Lessee may construct or-make, at its own expense, any alterations
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