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2000054b7 Any such rules, regulations and permits are subject to change by the Lessor, excepting that the basic purpose of the leased premises as residential shall not be abridged. Any changes in the rules and regulations must be approved by a majority of the leaseholders present and voting at a meeting called for such purpose of which written notice has been given to all leaseholders (one vote per Lease). 13. Termination of Lease by Default of Lessee. If the Lessee fails, after ninety (90) days prior written notice from the Lessor, to remedy any default in his or her compliance with any of the obligations binding upon him or her under this Lease Agreement, or under the Rules and Regulations furnished him or her by the Lessor, the Lessor may, at its option, terminated this Lease and retake possession of the leased premises but only after the following procedure has been complied with: (a) A special meeting of all stockholders of Lessor shall be called by the Board of Directors of Lessor, and written notice of such meeting and its purposes be given all such stockholders. Such meeting shall be called for the purpose of determining by majority vote of the stockholders of Lessor, present and voting, as to whether or not termination of Lessee's Lease should be made because of a default by the Lessee. At least ten (10) days written notice shall be given of any such meeting, and the Lessee shall be given full opportunity to show why his or her Lease should not be terminated. (b) If a majority of the stockholders of Lessor, present and voting at such meeting, determines that Lessee is in default under his Lease and that the same should be terminated, the Lessee shall have one hundred twenty (120) days within which to remove his or her improvements on said premises; and, if he or she fails to remove the same within such 120 days, the Lessor and the Lessee shall join in a public auction of the improvements remaining upon said leased premises, and the net proceeds from any such sale shall be applied as follows: FIRST in the payment of any unpaid rents or other amounts owing by Lessee to Lessor; SECOND any remaining proceeds, subject to the rights of mortgages, shall be paid to the Lessee. The Lessor agrees to give a new lease to a suitable purchaser at such public auction. THIS LEASE AGREEMENT shall bind the Lessor and the Lessee and their personal representatives, successors, devisees, legatees, heirs -at -law, and assigns. KUESTF,R'L AKE, INC. BY Jerry" adcliff, Its Presid n LESSOR