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-1 rr CD Return to: Mayer, Burns & Koenig, 308 N. Locust Street, Suite 306, Grand Island, NE 68801-5984 LEASE AGREEMENT Dated: October 1 , 2019 THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and TODD C. ENCK and KELLY A. ENCK, husband and wife, as joint tenants, LESSEES. 1. Description of Leased Premises: Lot Three (3), situated on the North Side of the East Portion of Kuester Lake and being on a part of the East Half of the Southwest Quarter f1/2SW1/4) of Section Thirteen (13), Township (11) North, Range Nine (9), West of the 6th P.M., Hall County, Nebraska. A Such lot is as shown on the plat in the possession of the Lessor. 8 2. Term of Lease: Thirty-five (35) years, commencing October 1 , 2019, and terminating September 3U, 2054. N (� 3. Option to Extend Term: Lessees have the option to extend the term of this Lease for an --'1 additional 35 years by givingLessor notice thereof, in writing, September 2054. tri r4" 4. Right to Assignment of Lease: Lessees have the right to assign this Lease provided: 1 n�° (a) Lessees have complied with all terms of this Lease. rri Gel (b) Lessees transfer to the new owner all interest and ownership of the Lessees in the common stock of Kuester Lake, Inc. (c) The new Lessees agree, in writing, to abide by the terms of the Lease so assigned, any new Lease of these premises, and to abide by the Agreement entered into by this Lessees' predecessors in title with Kuester Lake, Inc. on or about April 16, 1980, the terms of which are incorporated herein by reference. (d) The new Lessees 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 subleasing must have the Lessor's approval. (f) The Lessees have the absolute right to conditionally assign this Lease to any mortgagee for the purpose of furnishing such mortgagee additional security. 1