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<br /> <br />ff' <br />fa- <br />~ <br />I <br /> <br />:1':1 <br />m <br />C! <br />n Z <br />::z::nC <br />p;~~ <br />:;lIIIIii:C <br /> <br />~~~ <br />n:t: <br />'" <br /> <br /> <br /> m <br /> .-""'" O~ <br /> ~"'.':,:::..~ 0 en <br /> Ii":::;::-.. <br /> """"l co 0 ----; <br /> c: :co. rvm <br /> r-1,-.. c.:~ Z -i <br />:T.I t:.l ""~ -:--:> ----; iT! 00 <br />fTl I..... 1"'. -----l --< )> <br />.:;-) \..J"_ (~) on <br /><::) (\C: 0 ~""l <br />en 'Tl ~ <br />~'1"'1 .....1 ~;~ <br />C? L' :::1.: iTl a;ti <br />rl'l ~' --0 :r=.. [C) <br />fTl =:3 r :;::J <br />0 ~ r 1> ~ <br />(fl (j) <br /> W ;><:; CJ1T1 <br /> (-- l> ~ <br /> CJ -- <br /> -..J UJ ~ <br /> (j) <br /> <br /> <br />N <br />($I <br />($I <br />(Xl <br />($I <br />(Xl <br />CJ'l <br />N <br />-..J <br /> <br />200808527 <br /> <br />LEASE AGREEMENT <br />Dated: September~, 2008 <br /> <br />, <br /> <br />THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and <br />MARY ANN M. RICHARDSON, LESSEE. <br /> <br />-- <br /> <br />1. Description of Leased Premises: <br /> <br />~~ <br />(; (J <br />'I,....,. <br /> <br />Lot Twenty Nine (29), Kuester Lake, a part of the East One Half of the <br />Southwest Quarter (SW1/4) of Section Thirteen (13), Township Eleven (11) <br />North, Range Nine (9), West of the 6th P.M., situated on the West side of <br />the West portion of said lake. <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 October 1, 2008 and <br />terminating September 30, 2043. <br /> <br />3. Option to Extend Term: Lessee has the option to extend the term of this <br />Lease for an additional 35 years by giving Lessor notice thereof, in writing, by July 1, <br />2043. <br /> <br />4. Riaht to Assianment of Lease: Lessee has the right to assign this Lease <br />provided: ' <br /> <br />(a) Lessee has complied with all terms of this Lease. <br />(b) Lessee transfers to the new owner all interest and ownership <br />of the Lessee in the common stock of Kuester Lake, Inc. <br />(c) The new Lessee agrees, in writing, to abide by the terms of <br />the Lease so assigned, any new Lease of these premises, <br />and to abide by the Agreement entered into by this Lessee's <br />predecessors in title with Kuester Lake, Inc. on or about <br />November 4, 1974, the terms of which are incorporated <br />herein by reference. <br />(d) The new Lessee shall be entitled to a new Lease for a 35- <br />year term. The term may be longer if cOflsented to by the <br />Lessor.' ' <br />(e) Any subleasing must have the Lessor's approval. <br />(f) The Lessee has the absolute right to conditionally assign this <br />Lease to any mortgagee for the purpose of furnishing such <br />mortgagee additional security. <br /> <br />5. Rent. The Lessee shall pay to Lessor, as annual rent, payable in advance and <br />on or before July first each year, such rent as may be annually determined by the Lessor <br />under the following formula: <br /> <br />The annual rent shall be an amount, each year, equal to the <br />result of dividing the total number of residential lessee- <br />stockholder lots into that year's anticipated net budget needs <br />of the Lessor. <br /> <br />The computation of the annual rent shall be done by the Lessor, but shall be uniform <br />among all lessee-stockholders of Kuester Lake, Inc. In any event the annual rent of the <br />