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<br />-3- <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 dne <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 void leased nrpmises, and the net proceeds from <br />r'--- <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 />L:~ase 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 />t <br />~ ~- <br />By_ _ ~''~'s <br />is Fresidexti <br />-----~"~ Wade R. r en <br />Hbllp L'.- sen <br />LESSEE <br />STATE OF NEBRASKA ) <br />ss. <br />COUNTY OF HALL ) <br />On this day of Januar 19~, before me, a Notary <br />Public within and for sal 'ounty, personally came <br />~r.# Wade R. Zer <br />~. Lessee, nown to me an known to me to be the iaentical person (s} <br />whose name is affixed to the foregoing as Lessee, and acknowledged <br />}~ the~~aexecution to be their voluntary act and deed for the purposes <br />therein set forth. <br />`' WITNESS my hand and Notarial S 1 the date last above written. <br />~y~ Notarial GommiBSion expires: ~-~-' ~~ ~~~ - <br />'' Mwwrmia-fnrr f ~'~' <br />. ~ tdNMtE Q A~lYM ~." <br />.^ ,% <br />~IdroMa~.s.N.14u11 v~ Nou c <br />