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_3_ 86-- 103122 <br />('D) 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 ore <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 tiia Lessee shall join in a <br />public auction of the improvemients remaining upon <br />the leased premises and the net proceeds from any <br />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 o- "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 />THIS LEASE AGREE11,22,NT shall bind the Lessor and the Lessee and <br />their personal representatives, successors, devisees, legatees, <br />heirs -at -law and assigns. <br />KLGSTER LAKE, INC. <br />By �� Z12LI�6 <br />its President <br />LESSOR <br />C- .' tL -✓.cam <�l j - �:,1� <br />CAROLYWS. REEVES <br />LESSEE <br />STATE OF NEBRASKA ) <br />ss. <br />COUNTY OF HALL ) <br />On this f/ day of 19 86 , before me, a Notary <br />Public within and for said a6unty, personally came <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 />Witness my hand and notarial Beal the dat St above written. <br />My Notarial Commission expires: <br />Nota y Public <br />MOM MUM—bite M a.w.sk <br />L A~ 0. MXM <br />o <br />�r�..e. MIAM <br />