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Ni' <br />N� <br />Ni <br />CO <br />W <br />1.3VSUS8y .i• <br />Return to: <br />GRAND ISLAND ABSTRACT <br />ESCROW & TITLE CO. <br />704 W. 3RD STREET <br />GRAND ISLAND, NE 68801 <br />LEASE AGREEMENT <br />Dated: I q , 2021 <br />Cf) <br />CD <br />THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and <br />THOMAS L. NIELSEN and LOIS E. NIELSEN, LESSEES, husband and wife, as joint tenants. <br />I. Description of Leased Premises: <br />Lot Four (4), having a lake front footage of 50 feet, situated on the East <br />side of the East Portion of Kuester Lake, and being on a part of the East <br />Half of the Southwest Quarter (E%2SW'/4), in Section Thirteen (13), <br />Township Eleven (11) North, Range Nine (9) West of the 6th P.M., Hall <br />County, Nebraska, bounded on the Northerly side by the common road. <br />Such lot is as shown on the plat in the possession of the Lessor. <br />2. Term of Lease: Ninety-nine (99) years, commencing Aryl I 9 , 2021, <br />and terminating i 9 , 2120. <br />3. This number is reserved for future use. <br />4. Right to Assignment of Lease: Lessees have the right to assign this Lease provided: <br />(a) Lessees have complied with all terms of this Lease. <br />(b) Lessees transfer to the new owner all interest and ownership of the <br />Lessees in the common stock of Kuester Lake, Inc. <br />(c) The new Lessees agree, in writing, to abide by the terms of the <br />Lease so assigned, any new Lease of these premises, and to abide <br />by the Agreement entered into by this Lessees' predecessors in title <br />with Kuester Lake, Inc. on or about November 4, 1974, the terms of <br />which are incorporated herein by reference. <br />(d) The new Lessees shall be entitled to a new Lease for a 99 -year <br />term. <br />(e) Any subleasing must have the Lessor's approval. <br />(f) The Lessees have the absolute right to conditionally assign this <br />Lease to any mortgagee for the purpose of furnishing such <br />mortgagee additional security. <br />5. Rent. The Lessees shall pay to Lessor, as annual rent, payable in advance and on or <br />before July first each year, such rent as may be annually determined by the Lessor under the <br />following formula: <br />The annual rent shall be an amount, each year, equal to the result of <br />dividing the total number of residential Lessees -stockholder lots into <br />that year's anticipated net budget needs of the Lessor. <br />The computation of the annual rent shall be done by the Lessor, but shall be uniform among all <br />Lessees -stockholders of Kuester Lake, Inc. In any event the annual rent of the Lessees shall not <br />1 <br />