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<br />LEASE AGREEMENT
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<br />THIS AGR.EEMENT entered ~nto between KUESTER LAKE, INC., LESSOR, and
<br />ROBERT D. . KUTZ and MARLA M. KUTZ
<br />(as joint ... ten,a.nts) ({cK<:K~:l~:lft~8CX:iliJD0otlutitX){XlW::X<<GiXetX~)(XUit(jfnilX~ut
<br />portiGril not a,pplicable) whether one or more, LESSEE. .
<br />Lot Ten (10), havmg a 'lake. front fo()t~ge
<br />1,> .~escr~tion of. leased premises: of 54 feet, situated on the West side of the ,West
<br />polft1on of ... .. ester laKe and beIng on a part of the Ef2SWt in Section 13., Township n ',Range
<br />9mHallCounty, NE, bounded on the Northwesterly side bv a coomonroad;such lot is as
<br />shown ana plat in the possession of the Lessor. J
<br />2. Term of lease:
<br />35 years, commencing .July 1 t 1981 .and terntl.tntti.ng
<br />- June 30. 2018
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<br />3. Opti.on to extend term:
<br />Lessee has the option to extend the term of thi.s lease for' an
<br />adclitional 35 years by giving Lessor notice :thereof, in writing,
<br />by ~~X~XX~XXij<<l~ by Janu~ry 1, 2018,
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<br />4.
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<br />Riaht to assiqnment of lease:
<br />,Lessee has the right to assign t:his lease provided -
<br />(a) Lessee has complied with all terms of this lease.
<br />(b) Lessee transfers to the new owner all interest and
<br />ownership of the Lessee in the common stock of
<br />Kuester Lake, Inc.
<br />(0) The new Lessee agrees, in writing, to abide by the
<br />terms of the lease so assigned, any new lease for
<br />these premises, and to abide by the Agreement
<br />entered into by this Lessee with Kuester Lake, Inc.
<br />on or about November 4, 1974, the terms of which
<br />are incorporated herein by reference.
<br />(d) The new Lessee shall be entitled to a new lease {(\J'
<br />'a 35 year term. The term may be longer if cenflPnl "Ij
<br />to by the Lessor.
<br />(e) Any sub-leasing must have the L,essor IS approv;\ 1
<br />(f) The Lessee has the absolute right to conditiolFll 1\'
<br />assign this lease to any mortgagee for the puq)(l;:t'
<br />of furnishing such mortgagee additional secnrHy.
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<br />5.
<br />
<br />Ren..5:
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<br />Tlm Lessee shall pay to Lessor, as annual rent, payabT'" 1.t;
<br />advance and on or before July first each year, f11Wh r"l'( <;"
<br />ma~r be annually determined by the Lessor under \-hl? :fnl:t oW:il"l
<br />fOJ."J1'\ulal
<br />The annual rent shall be an amount, ench year,
<br />equal to the result of dividing the total
<br />number of residential lesseE1-stockhold(u" lei n
<br />into that year I s anticipated net bU(iq"t, 1l1'1",(iP
<br />of the Lessor.
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<br />'Ehe computation of the annual rent: shall \ll) <1nn,>, I'y 1-1..
<br />Lessor, but shall be uniform 8monq all leRr;I'e. !,hwkhnl dC'lFl
<br />of Kuester Lake, Inc. In any eVeJ~lt, the annuaL lent: 01
<br />thE~ I.Jessee shall not exceed One Hundred Dollar::; ($100,,00)
<br />unlE~.ss a majority of all lessee-stockholders of KuestE;lr
<br />La)~e, Inc. (one vote for each share), preselit and voting
<br />at. a special meeting called for that purpose, shall
<br />f::\pproV'e..t.l'le same.
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<br />have access from the leased premises ont,o
<br />and shall also have tbt,~ ri9ht to US"
<br />SWimming apd fish:ing. 'I'11C!Se acc(;!sl'l
<br />with theot.her leaseholders at
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<br />i;l;\l..I~. It!'.l;l.!l~l!l
<br />'L1hi::;. lease replaces and supersedes any prior lease
<br />pretni.ses wh;1ob the lessee or his predecessors in title m21Y
<br />have h~~ld.
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