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roorrimems NCDr ..� Return to: Zachary Butz 308 N. Locust St. Ste 501 Grand Island, NE 68801 CASH CHECK, aO{ .00 REFUNDS: CASH CHECK RECORDED HALL COUNTY NE iNST 2022 0 0 b u l 202q FEB l 11 P 12:40 KRISTI WOLD REGISTER OF DEEDS LEASE AGREEMENT Dated: reb, 19 , 2024. THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and Gary R. Jacobson, LESSEE. 1. Description of Leased Premises: as Lot 18, having a lake front footage of 78 feet, situated on the West side of the West Portion of Kuester Lake and being on a part of the East Half of the Southwest Quarter in Section 13, Township 11 North, Range 9 West of the 6th P.M., Hall County, Nebraska, bounded on the Westerly side by the common road. 2. Term of Lease: Ninety-nine (99) years, commencing ccb.. 1 9 , 2024, and terminating f D . t'-1 , 2123. 3. Reserved 4. Right to Assignment of Lease: Lessees have the right to assign this Lease provided: (a) Lessee has complied with all terms of this Lease. (b) Lessee transfers 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 November 4, 1974, 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 Lessee 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: The annual rent shall be an amount, each year, equal to the result of dividing the total number of residential lessee -stockholder lots into that year's anticipated net budget needs of the Lessor. The computation of the annual rent shall be done by the Lessor, but shall be uniform among all lessee - stockholders of Kuester Lake, Inc. In any event the annual rent of the Lessee shall not exceed One Hundred 1 LID