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<br />-3- <br /> <br />88- 104080 <br /> <br />'b) If a majority of the stock of Lessor, present <br />and voting at such meeting, determines that Lessee <br />is in default under his lease and that the same <br />should be terminated, the Lessee shall have one <br />hundred twenty (120) days within which to remove <br />his or her improvements on said premises and, if he <br />or she fails to remove the same within such 120 <br />days, the Lessor and the Lessee shall join in a <br />public auction of the improvements remaining upon <br />the leased premises and the net proceeds from any <br />such sale shall be applied as follows; <br /> <br />t.~ <br /> <br />FIRST in the payment of any unpaid rents or other <br />amounts owing by Lessee to Lessor; <br />SECOND any remaining proceeds, subject to the <br />rights of mortgagees, shall be paid to the <br />Lessee. The Lessor agrees to give a new <br />lease to a suitable purchaser at such public <br />auction. <br /> <br />~IIS LEASE AGREEMENT shall bind the Lessor and the Lessee and <br />their personal representatives, successors, devisees, legatees, <br />heirs-at-law and assigns~ <br /> <br />KUESTER LAKE, INC. <br /> <br />By <br /> <br />~ <br />.,' ( <br />t ~., <br />Pr side ..,. <br /> <br />LESSOR <br /> <br />~A/>U g~41 <br /> <br />LESSEE <br /> <br />STATE OF NEBRASKA <br /> <br />SSe <br /> <br />COUNTY OF HALL ) <br /> <br />On this L7t:1<.day of ~ 1977-1-, before me, a Notary <br />Public within and for said county, personally came <br />~~rn~ B. Lindsav <br />Lessee, known to me and known to me to be the identical person (s) <br />whose name is affixed to the foregoing as Lessee, and acknOWledged <br />their execution thereof to be their voluntary act and deed for the <br />purposes therein set forth. <br /> <br />Witness my hand and notarial <br />My Notarial Commission expi~es: <br /> <br />~ \'/ ~T. GIl.~EN d. <br />. G nfl,': ti.,.,..v -S\;ltU 01 Nebr. <br />M\ c,,~ml..I<I/l E~Il\~"$' <br />~ May. 28, 1978 <br /> <br />seal the date last above written. <br />IAIl !l 8 19M <br /> <br />~/7&~ <br /> <br />,',Notary Public <br />