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200314963 <br />(b) If a majority of the stockholders of Lessor, present and voting <br />at such meeting, determines that Lessee is in default under <br />his Lease and that the same should be terminated, the <br />Lessee shall have one hundred twenty (120) days within <br />which to remove his or her improvements on said premises; <br />and, if he or she fails to remove the same within such 120 <br />days, the Lessor and the Lessee shall join in a public auction <br />of the improvements remaining upon said leased premises, <br />and the net proceeds from any such sale shall be applied as <br />follows: <br />FIRST in the payment of any unpaid rents or other amounts owing <br />by Lessee to Lessor; <br />SECOND any remaining proceeds, subject to the rights of <br />mortgagees, shall be paid to the Lessee. The Lessor agrees to give a new <br />Lease to a suitable purchaser at such public auction. <br />THIS LEASE AGREEMENT shall bind the Lessor and the Lessee and their <br />personal representatives, successors, devisees, legatees, heirs -at -law, and assigns. <br />KUESTER LAKE, INC. <br />By 4�xe X4 <br />Robert Kutz, Its President <br />LESSOR <br />GAYLO V. SCALF <br />c cy�5 sz- tll� <br />MARLENE S. SCALF <br />LESSEES <br />STATE OF NEBRASKA ) <br />) ss. <br />COUNTY OF HALL ) <br />The f regoing instrument was acknowledged before me this 4 day of <br />2003, by Robert Kutz, president of Kuester Lake, Inc., a <br />Nebraska corporation, on behalf of the corporation. <br />YARME SCHAW Std <br />Ix <br />wGomm. �. seat 4200r <br />No ry Publ <br />STATE OF NEBRASKA ) <br />) ss. <br />COUNTY OF HALL ) <br />IThy foregoing instrument was acknowledged before me this �� day of <br />U g 0 , 2003, by Gaylord V. calf and M S. Scalf and and wife, <br />Lessees. <br />2MARNIE k NOTARY . State alNebietlre ✓ ,�� <br />SCHAGER StR+IDERMp�} Notary P u b l i c <br />�Y Comm. E7q,, Sept a 2W <br />