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J_ <br />F, <br />-3- $5—r 001983 <br />(b) If a majority of the stock of Lessor, present and <br />voting at such meetin4, 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 />lie 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 />I LS 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 />By <br />is President <br />Willard Scobie <br />LESSOR <br />f <br />STATE OF NEBRASKA ) <br />. ss. <br />vOvNTY OF HALL ) <br />LESSEE <br />On this 212Lh day of 11 -5 19 SS, before me, a Notary <br />PuB'.ic w«nin and for said County, personally came <br />JAMES K. JffffIES, si. � <br />lessee, known to me and known to me to be the :.uen t zca 1 pe rsorl (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. S. al the date last above written. <br />My Notarial Commission expires:I.e, <br />Notary rPu'a Ic <br />wa.a►w.aaw <br />IF--m <br />ntim <br />