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Cn C`' r- r —1 __3 I. O CO / Return to: Mayer, Burns & Koenig, 308 N. Locust Street, Suite 306, Grand Island, NE 68801-5984 LEASE AGREEMENT Dated: August 17 , 2020 THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and Jerome J. Cfarnick and Sandra J. Czarnick, Co -Trustees of the J & S CZARNICK TRUST, dated i� tiQ- Z 0 Q 9 , LESSEES, whether one or more. 1. Description of Leased Premises: Lot Twenty-two (22), excepting the Northerly 17 feet thereof having a lake front footage of 118 feet, situated on the East side of the East portion of Kuester Lake in the East Half of the Southwest Quarter (E1/2SW1/2) of Section Thirteen (13), Township 11, Range 9, In Hall County, Nebraska, bounded on the Southeasterly side by the common road; such lot is as shown on a plat in the possession of the Lessor. 2. Term of Lease: Thirty-five (35) years, commencing st � 020, and terminating 4 , 2055. 3. Option to Extend Term: Lessees have the option toed the term of this Lease for an additional 35 years by giving Lessor notice thereof, in writing, by [3 , 2055. 4. Right to Assignment of Lease: Lessees have the right to assign this Lease provided: (a) Lessees have complied with all terms of this Lease. (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 July 1, 1983, 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. 5. Rent. The Lessees shall pay to Lessor, as annual rent, payable in advance and on or before July first each year, such rent as may be annually determined by the Lessor under the following formula: 1 N CD fV CD CD (9,90P