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<br />88-- 103821 <br /> <br />RESCISSION AGREEMENT <br /> <br />. I , 7rt- <br />-THIS RESCISSION AGREEMENT made and executed th1s ~ day <br />of ~Ul~ , 1988, by and between THE VILLAGE OF ALDA, NEBRASKA, a <br />municipal corporation, hereinafter referred to as "Village", and <br />TRIAD FASTENER CORPORATION, a Nebraska corporation, hereinafter <br />referred to as "Triad". <br /> <br />WITNESSETH: <br /> <br />WHEREAS, the parties hereto have previously executed a <br />certain Lease and Agreement dated December 1, 1973, filed of <br />record in the Miscellaneous Records of the office of the Register <br />of Deeds of Hall County, Nebraska, in Book 26 at Page 101 in <br />respect to that real estate described as: <br /> <br />Lots Four ( 4 ) and six ( 6) in Argo Subdi vi- <br />sion, in section Five (5), Township Ten (10) <br />North, Range Ten (10) West of the sixth (6th) <br />Principal Meridian, Hall County, Nebraska; <br /> <br />WHEREAS, the Village has conveyed the entirety of the <br />described real estate to Triad; and <br /> <br />WHEREAS, the parties hereto wish to evidence the cancel- <br />lation of such Lease and Agreement by reason of such conveyance, <br /> <br />NOW, THEREFORE, in consideration of the mutual covenants <br />herein contained, it is agreed: <br /> <br />1. MUTUAL CONSIDERATION. The village hereby releases <br />Triad from any further obligation to pay rent and perform the <br />covenants to be performed by Triad pursuant to the Lease and <br />Agreement above described and Triad hereby releases the village <br />from its obligations as Landlord and otherwise provided in the <br />Lease and Agreement above described from and after the effective <br />date hereinafter specified. <br /> <br />2. EFFECTIVE DATE OF RESCISSION. The parties hereto, each <br />in consideration of the mutual releases set forth in paragraph 1 <br />hereof, do hereby mutually covenant and agree that the Lease and <br />Agreement in respect to the above described real estate which was <br />executed on December 1, 1973, shall be, and the same hereby is, <br />rescinded, terminated and cancelled as of December 1, 1987, and <br />the parties hereto further acknowledge that as of the effective <br />date of such rescission, all obligations therein contained had <br />been fully satisfied. <br /> <br />-1- <br />