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-3- S7- 108871 <br />(b) If a majority of the stock of Lessor, present and <br />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 <br />he or she fails to remove the same within such <br />120 days, the Lessor and the Lessee shall join in <br />a public auction of the improvements remaining up- <br />on said leased premises, and the net proceeds from <br />any such sale shall be applied as follows: <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 <br />public auction. <br />THIS LEASE AGREEMENT shall bind the Lessor and the Lessee and their <br />personal representatives, successors, devisees, legatees, heirs -at -law, <br />and assigns. <br />KUESTER LAKE, INC. <br />AJ <br />By <br />Its President <br />LESSOR <br />l <br />LESSEE <br />STATE OF NEBRASKA ) <br />ss. <br />COUNTY OF HALL ) <br />On this day of November , 19 87 , before me, a Notary <br />Public within and for sa>d County, personal came <br />BETTY L. HOEFT <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 to be their voluntary act and deed for the purposes <br />therein set forth. <br />WITNESS my hand and Notarial Seal the(, ate last above written. <br />My Notarial Commission expires:° , <br />j <br />`l( <br />®ENE11At kOTARY —StaN d No6m4a � ��,,'•• <br />JOANNE G.ROUSH j Notary Public <br />i Ml Comm. <br />D. Nov. 25, 1988 <br />L <br />