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<br /> �`:''�'�":�=y�.:7 , 'i`h1xS AdIt7�E[HSNT eA��sed i�i�A betwE�On R�ST�R LAKE• INC.,
<br /> � ��` . L$SSOI3, and CAItOLYN K. O7�"1'O, �ESSS�• —
<br /> _ „ , ,,.� � - -- - -
<br /> '�-�`:���' • l. Do�aziption ef I,ear�ed Pr�tni��s:_ Lot 17, havin� a lake front
<br /> - footage of'7S► F�et, a tu��ed �s� �he West side of the tJest poxtion =- --�"�
<br /> • of Kue�ter Lake and bsinQ on a part of the East Haif o� tho ---
<br /> � Southw��� Qu�rtex tB�SW�? i.a Section 13, Township 11, Range 9, in
<br /> Hall Caunty, Nebraska, bounded on the Wes�erly side by the coironnn
<br /> .• road, auch lot is ne sha�wu oa� a plat ia the possessioa of the �--T�---
<br /> LeaoOx.
<br /> � 2. �rm of Lease: --
<br /> 35 years, commenaing Marcri 1, 1975, aaad texminatiag
<br /> February 2�, 2010.
<br /> :; �',.�. .... _ .
<br /> 3. Oation tQ Extend T�xae�: ��7��='-'�`
<br /> � Lesse� has the option to extend the texm of this Lease for an -- __
<br /> LL'..
<br /> adciitional 35 years by qiving Lessor notfce thereof, in c,�riting, ��_- �--
<br /> � .�..�;;;:
<br /> by July 1, 2009. �t^-����+
<br /> .. �� -
<br /> .%
<br /> 4. RiQht to Assic�nment of �Qase: . � V�
<br /> Lessee h�s th� righ� to a�siqn this Lease provided: �r'���m =-
<br /> (a) Lessee has aoa:�plied with all terms of this t:� , ;�°
<br /> Lea�e. .t•�;:,:>-----'--
<br /> „
<br /> (b) : Lessee transfexs tc the new owner alI , ;r:;!'.;,,;��_
<br /> ' interest and owners�ip of the Lessee in the �'� �
<br /> . ._ =�- �,.
<br /> , common stock of Kuester Lake, Inc. ; "
<br /> .� � � (c� The new Less� agrees, in writing, to abide � .. tr.�,,
<br /> � � �� by the terms of the Lease so assigned, any
<br /> �'���'�: � n��r Lease of these premises, and to abide by
<br /> th� Agreement entered into by �.his Lessee•s � �� '. �� *�
<br /> `.�"`.''� , ' pxedecessors in title with Kuester Lake, Inc. '•�,
<br /> � on or about November 4, 1974, the terms of � �;+�' �
<br /> which are incorporated herein by reEerence. � � ,.,�,,�,,�;s�fi t�: �
<br /> (d) Tha new Lessee shall be entitled to a new :;,'f:�;���;4;���
<br /> Lease for a 35-year term. The term may be �,� ;� �''. "''-`�y'�'�
<br /> longer if consented to by the Lessor. • � i"�,{�`:�?�,
<br /> . (e) Any subleasinq must have �he Lessor's � .' �:,';``•�:,
<br /> approval. � S;`.�`�:=
<br /> {f1 The Lessee has the absolute right to � .
<br /> ' conditionally assign this Lease to any � '
<br /> �:�..�,�;;.. •. mortgagee for the purpose of furnishing such , � ,-
<br /> . - mortqagee additional security. I. •
<br /> . • �'�'' ; . ,.�,{ 5. Rent. !
<br /> ,::��i�:'��,;" •;.+ The Lessee shall pay to Lessor, as annual rent, payable in �•.��
<br /> 1 advance and on or before July first each year, such rent as may
<br /> � . be annually determined by the Lessor under the following forneula:
<br /> �� The annual rent shall be an amount, each
<br /> � � year, equal to the result of dividing the
<br /> �, total number of residential lessee-
<br /> ' ,_,�; stockholder lots in�o that year's anticipated
<br /> �`�� � :�,� net budget needs of the Lessor.
<br /> � The computation of the annual rent shall be done by the Lessor,
<br /> � . �"� but shall be uniform among all lessee-stockholders of Kuester
<br /> i Lake, Inc. In any event the annual rent of the Lessee shall not
<br /> . exceed One Hundred Dollars ($100.00) unless a majority of all
<br /> i lessee-stockholders of Kuester Lake, Inc. (one vote for each
<br /> share) , present and voting at a special meeting called for that
<br /> � purpose, shall approve the same.
<br /> - .. . . -. . - �
<br /> 6. Access.
<br /> The Lessee shall have access from the leased premises onto the
<br /> Lessor's roads and shall also have the right to use the lake for
<br /> boating, swimming, and fishing. These access rights are in
<br /> common with the other leaseholders at Kuester Lake.
<br /> � - - ---�
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