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200109028 <br />MEMORANDUM OF BUILDING LEASE AGREEMENT <br />AND BUILDING AGREEMENT <br />THIS Memorandum of Building Lease Agreement and Building <br />Agreement is made this 6a i, day of Spy, t -z-- , 2001, by L.U.D. <br />INVESTMENTS, L.L.C. ( "LUD"). <br />RECITALS: <br />WHEREAS, L. James Drahota and Judith M. Drahota, husband <br />and wife ( "the Drahotas ") are the owners of the real estate <br />described as follows: <br />Lot Two (2), Block Two (2), Crane Valley Subdivision <br />as surveyed platted and recorded in the City of Grand <br />Island, Hall County, Nebraska ( "the real estate "). <br />WHEREAS, LUD and the Drahotas have entered into a Building <br />Lease Agreement dated June 23, 2000 whereby LUD leases the real <br />estate for a period of three (3) years from January 1, 2001 <br />through December 31, 2003; and <br />WHEREAS, LUD and the Drahotas have entered into a Building <br />Agreement dated June 23, 2000 whereby LUD is obligated to <br />purchase the real estate upon the expiration of the foregoing <br />period of three (3) years and the Drahotas have a right of first <br />refusal to finance the purchase of the real estate; and <br />THIS MEMORANDUM OF BUILDING LEASE AGREEMENT AND BUILDING <br />AGREEMENT IS INTENDED TO PROVIDE NOTICE OF THE FOLLOWING: <br />1. Recitals. The foregoing Recitals are an integral part <br />of this Memorandum of Building Lease Agreement and Building <br />Agreement and are incorporated by reference. LUD acknowledges <br />that the Recitals are true and correct. <br />2. Building Lease Agreement. LUD and the Drahotas <br />entered into a Building Lease Agreement dated June 23, 2000 <br />whereby LUD leases the real estate for a period of three (3) <br />years from January 1, 2001 through December 31, 2003 consistent <br />with the terms and conditions of the Building Lease Agreement. <br />3. Building Agreement. LUD and the Drahotas entered into <br />a Building Agreement dated June 23, 2000 whereby LUD is <br />obligated to purchase the real estate upon the expiration of the <br />foregoing period of three (3) years consistent with the terms <br />and conditions of the Building Agreement. <br />4. Copies of Documents. Complete copies of the Building <br />Lease Agreement and Building Agreement referred to herein may be <br />obtained from Percy L. Upton, L.U.D. Investments, L.L.C., 2726 <br />St. Patrick, Grand Island, Nebraska, 68803. <br />