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200008817 <br />-3- <br />(b) If a majority of the stock of Lessor, present <br />and voting at such meeting, determines that Lessee <br />is in default under his lease and that the same <br />should be terminated, the Lessee shall have one <br />hundred twenty (120) days within which to remove <br />his or her improvements on said premises and, if he <br />or she fails to remove the same within such 120 <br />days, the Lessor and the Lessee shall join in a <br />public auction of the improvements remaining upon <br />the leased premises and the net proceeds from any <br />such sale shall be applied as follows: <br />FIRST in the payment of any unpaid rents or other <br />amounts owing by Lessee to Lessor; <br />SECOND any remaining proceeds, subject to the <br />rights of mortgagees, shall be paid to the <br />Lessee.. The Lessor agrees to give a new <br />lease to a suitable purchaser at such public <br />auction. <br />THIS LEASE AGREEMENT shall bind the Lessor and the Lessee and <br />their personal representatives, successors, devisees, legatees, <br />heirs -at -law and assigns. <br />KUESTER LAKE, INC. <br />BY <br />Its P si t <br />LESSOR <br />t <br />LESSEE <br />STATE OF NEBRASKA ) <br />ss. <br />COUNTY OF HALL ) <br />On thi s 40e a day of June 197 5 , bef ore me, a Notary <br />Public within and for said county, personally came <br />J. Harlev Thorndike <br />Lessee, known to me and known to me to be the identical person (s) <br />whose name is affixed to the foregoing as Lessee, and acknowledged <br />their execution thereof to be their voluntary act and deed for the <br />purposes therein set forth. <br />witness my hand and notarial seal the date la s above written. <br />My Notarial Commission expires: T <br />.Notary Public <br />W. T. GR7EN <br />General Notary • State d <br />My Commission Exr ires <br />rvlay 28, 1978 <br />