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<br />, ~ <br /> <br />~~\O <br />n~ <br />:iI".:: <br /> <br />~ <br />;:lJ ~.' <br />:;;~ <br />o~ <br />""Tl <br /> <br />~t <br /> <br />c..:) <br />U1 <br /> <br />N <br />S <br />S <br />co <br />S <br />W <br />N <br />-..J <br />.f:::. <br /> <br />p <br />... <br />~ <br />! <br /> <br />at <br />c <br />n Z <br />~~~ <br />nm <br />,.;:c <br /> <br />v) <br />D' <br /> <br />,~ <br />c:::lo <br />c:::> <br />c;c <br /> <br />......... <br /> <br />:D <br />-0 <br />::::0 <br />...... <br />a> <br /> <br />-0 <br />::3 <br /> <br />c..:) <br /> <br />Q(/l <br />0-"--1 <br />c=> <br />z-l <br />~rn <br />-<0 <br />0"'"'1 <br />"'"'1z <br />:r:fTl <br />:x> m <br />,:::U <br />r l> <br />(j) <br />;::0<; <br />l> <br /> <br />-- <br /> <br />(f) <br />(f) <br /> <br />LEASE AGREEMENT <br /> <br />Dated: Aprill, 2008 <br /> <br />THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and Cindy <br />J. Avila, LESSEE. <br /> <br />1. Description of Leased Premises: <br /> <br />Lot Twenty (20), situated on the West side of the East portion of Kuester Lake, and <br />being on a part of the East Half of the Southwest Quarter in Section 13, Township <br />11 North, Range 9, West of the 6th P.M., Hall County, Nebraska <br /> <br />such lots are as shown on a plat in possession of Lessor. <br /> <br />2. Term of Lease: Thirty-five (35) years, commencing April llL, 2008 and terminating <br />April 18,2043. <br /> <br />3. Option to Extend Term: Lessees have the option to extend the term of this Lease for <br />an additional 35 years by giving Lessor notice thereof, in writing, by <br />April 1, 2043 <br /> <br />4. Rililit to Assil!l1ment of Lease: Lessees have the right to assign this Lease provided: <br /> <br />(a) Lessees have complied with all terms of this Lease. <br />(b) Lessees transfer to the new owner all interest and ownership of the <br />Lessees in the common stock of Kuester Lake, Inc. <br />( c) The new Lessee agrees, in writing, to abide by the terms of the Lease <br />so assigned, any new Lease of these premises, and to abide by the <br />Agreement entered into by this Lessee's predecessors in title with <br />Kuester Lake, Inc. on or about November 4,1974, the terms of which <br />are incorporated herein by reference. <br />(d) The new Lessees shall be entitled to a new Lease for a 35-year term. <br />The term may be longer if consented to by the Lessor. <br />(e) Any subleasing must have the Lessor's approval. <br />(f) The Lessees have the absolute right to conditionally assign this <br />Lease to any mortgagee for the purpose of furnishing such mortgagee <br />additional security. <br /> <br />5. Rent. The Lessees shall pay to Lessor, as annual rent, payable in advance and on or <br />before July first each year, such rent as may be annually determined by the Lessor under the <br />following formula: <br /> <br />The annual rent shall be an amount, each year, equal to the result of <br />dividing the total number of residential lessee-stockholder lots into <br />that year's anticipated net budget needs of the Lessor. <br /> <br />The computation of the annual rent shall be done by the Lessor, but shall be uniform among all <br />lessee-stockholders of Kuester Lake, Inc. In any event the annual rent of the Lessees shall not <br />exceed One Hundred Dollars ($100.00) unless a majority of all lessee-stockholders of Kuester <br />Lake, Inc. (one vote for each share), present and voting at a special meeting called for that purpose, <br />shall approve the same. <br /> <br />m <br />c:> ~ <br />N rn <br />c:>ffi <br />c::>t:J <br />:I> <br />co en <br /> <br />~~ <br /> <br />N C <br />3: <br />-.J m <br />...l:~ <br />Z <br />o <br /> <br />\~ <br />~,.~ <br /> <br />\.... <br />.........., <br />