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<br /> LEASE AGRE�MEN'.L' w°
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<br />_�.'t�;�� . -_
<br /> THIS AGRE�MENT entered into between KUESTER LAKE, INC., _
<br />� LESSOR, a17d DAV:LD L. B.AS a '
<br />� K =
<br /> ��' (as joi.nt tenants, as tenants in common, as sole owner) _
<br /> whether one or more, L�5SEE. °
<br /> � ' 1 . Descri tion ot I,eased Premises: Lot Twenty-One (21) on —
<br /> �. the West sidP of the East portion af Kuester Lake and having
<br />_;, a lakefront foot�ge �f 83 feet, being on a part of the East
<br /> Half of the Southwest Quarter (E�SW�) in Section �hirteen (13) ,
<br /> , Townshi.p Eleven (11) North, Range Nine (9) , Hall County,
<br /> Nebraska, bounded on the Westerly side by the common road .
<br /> � ' such lot i.s as shown on a plat in possession of Lessor.
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<br /> ,.;� :'-`s:,�� 2 . Term of Lease: and -
<br /> .: - 35 ,years, commencing Tan, ��arv � 7Q9Q
<br />=�� � termina�ing Januarv 1,� 2034
<br />-� 'r 3 � �ti.on to Extend Term:
<br />�!. '�+�� ' � Lessee has the option �o�extend the texm �P hhPreofasinfwriting, '
<br />-��-�`' • additi�nal 35 years by y.��ir,� Las�or no_z-- --- f
<br />��=.�-., . by Septembcr 2 ?_03'�
<br /> i:-
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<br />'`�,��;;;3a;'. 4. Right to Assianment of Leases
<br /> � Lessee has the right to assiqn this Lease provided:
<br />';;.n •. (a) Lessee has comp].ied with all terms of this
<br />_•.,,,,�: .,;. Lease.
<br />- ' . _ ,;�,� (b) Lessee transfers to the nsw owner all
<br />- •.,.:t•,.;ti interest and ownership of the Lessee in the
<br />= common stvck of Kuester Lake, Inc.
<br />-- (c) The new Lessee agrees, in writing, to abide
<br />�"`�'sT' � by the terms of �he Lease so assigned, any
<br /> rr-�..-��rv�' .
<br /> -�,.�._ _ n�w Lease of these premises, and to abide y
<br />_�'"'"�'" th$ Agreement entered into k�y this Lessee's
<br /> a.�;:;,=fi^�;;r ,
<br />��-,�,,. .. _ predecessors in title with Kuester Lake, Inc.
<br />- �:, on �r about November 4, 1974, the terms oi
<br />_�.• . ,
<br />_ , �,., which are incorporated herein by re erence.
<br />_--,,, t.� M (d) The new Lessee sha11 be entitled to a new
<br /> - Lease for a 35-year term. The term may be
<br />-"�="Y " longer if consented to by the Lessor.
<br /> w���. "±
<br /> (e) Any subleasing must have the Lessor's
<br /> - � : approval.
<br /> �f-'' � (f) The Lessee has the absolute right to
<br /> • conditionally assign this Lease to any
<br /> , �v mortgagee for the purpose of Eurnishinq such
<br /> � mortgagee additional securi�y.
<br /> 5, Rent.
<br /> The Lessee shall. pay to Lessor, as annual r.ent, payable in
<br /> advance and on or before July first each year, such rent a� may
<br /> be annually dstermined by the Lessor under the following formula:
<br /> The annual rent shall k�e an amount, each
<br /> year, equal to the result oE dividing the
<br /> total number of re�idential lcssee-
<br /> o,-.,�tir,���Pr lots into that year' s anticipated
<br /> ' net budqet needs of the Lessor.
<br /> The computation of the arinual rent shall be done �by tihe Lessor,
<br /> but shall be uniform among all lessee-stockholders of Ktiester
<br /> Lake, Inc. In any event the annual rent of the Lessee sha11 not
<br /> � exceed One Hundred Dollars ($100. 00) unless a majority of all
<br /> lessee-stockholders of Kuester Lake, Inc. (one vote for ea.ch
<br /> stiarej , present and voting at a special meeting called for that ,
<br /> purpose, shall approvP the same.
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