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<br /> Tki�S �REFM�NT entered in�a boCvreen K'USST�R I,AIC�, INC. , �
<br /> I,ESSOR, and R�CHARD L. STtlBVEN and SHgRRY Y,. ,S't'(SEV�N, huebax�d and r:;.;--
<br /> wife, at� joint t�nants, whether one or mare, LE�SEE. ��°� ��-
<br /> L`�,-
<br />� l. D�n�.��o�Q� 7,a�[a�d �x�emi@gs� ===-
<br />- Lot FivQ (5) , having a lake frant footage of 50 EQSC
<br /> situt�ted on the Wc��t side of the Wao�erly por�ion of __
<br /> Ku�eter Lake and veing on a p�rt v� thQ Fa�t Ha1� aE `�'-=�
<br /> �,�-
<br /> tihe sourchwest Qu�rter (�'hSw3i) in Sec�ion Thirteen (i.3) ,
<br /> Townehig Eleven (11) North, Range Nine (9) Weet of the
<br /> � 6th P.P3. , Hall Cout�Cy, Nebrasl:a, bounrled on the �
<br /> �; i�m�therly side Yay the common road, ---
<br /> � sucl� lo� is as shown an a plat in posseseion of L�seo�. ��_�
<br /> - 2. TS-.rm of Leacae: Thirty-f ive (3 5) years, commencing June _ ��_`
<br /> �_.-
<br /> 1, 1995, and terminating May 31, 2030. �_
<br /> ' 3. Ontion ta ExGend �'er�. Lessee hae the option to ext�nd ��-�
<br />= the term of this Lease f�r an additional 35 yeare by c�iving �_�
<br />� Lessor notice ther�oF, in writing, by Ju].y 1, 20�9. '`
<br />-_ g, R�,g�t to A,�,�,cxzLnient of_�ease: Lessee h�s the right to __--
<br /> = assign thic� Lease provided: --_
<br />= (a) Le�aee has complied wi�h all terms of this .�;:',
<br /> = Lease. �'"--
<br /> - (b) LeBeee transfera to the new owT,er all �_��
<br /> _� interest and ownerehip of the Lessee in the ` �
<br />-� common stock uf Kueeter Lake, Inc. E��-._.
<br />_ (c) The new Lessee agreee, �n vrr.iting, to abide ��,
<br />:�- by the terme of the Leaee so aesignec3, any y
<br /> new Lease of these premis�e, and to abide by =?__
<br />-= the Agreement �ntered into by this Lessee's ,��
<br />_�� predeceseors in title with Ku�ster L�ke, Inc. °-
<br />-= on or about November 4, 1974, the tezma of -
<br /> = which are �.ncorparated herexn by re�erence. "�
<br /> °; (d) The new Lesdee ahall be entitled to a new ���
<br />:� Lease for a 35-year term. The ternn may be -
<br />��' longer if consented to by the Lessor.
<br /> _ (e:) Any subleasing must have the Lessnr�s ,
<br />.� approval .
<br />�� (�) The I�essee has the absolute right to
<br />� conditionally aseign this Lease to any
<br />� mortgagee for r.he purpos� of furni.shing auch ;
<br />- mortgagee additional security. �`�
<br /> .�'
<br /> �; 5. ktent• The LessEe shall pay to Lessor, as annual rent, �
<br /> payable in advance �nd on or before July first each year, such
<br /> - rent as may ba annually determined by the Lessor under the
<br />� following foxmu].a:
<br /> � The annual rent shall be an amount, each
<br /> fi� year, equal to the r.eeule of dividing the
<br />.-� total number of residential lesaee-
<br /> ..�.....t�u...ia.... 7..�c� �r�a.� that vo�r�c antarinatc�A
<br /> � AI�VVI�JtViVGL .►V�v ��� v � w► l...w� .. .�.��.���t�_�� -_
<br /> net budget needs of�the�Lessc�r. ` ,
<br /> =� ;
<br /> , The computation of the ar�nual rent eha11 be done by the Lessor, I
<br /> �,� but ehall be unifuxm among all lessee-stockholders of Kuester ;
<br /> Lake, Inc. In ax�y event the annual r�nt of the Lessee shall not i
<br /> exceQd On� Hur�dxed Dollare ($100.00) unlegg a majority oE all i
<br /> lessee-etockholdera oY Kueeter Lake, Inc. (one vote for eacll
<br /> sha�e) , pres�nt and vaCing at a apecial meeting called tor that �
<br /> puxpose, shall approve the same. I
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