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<br />~004103
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<br />LAND LEASE
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<br />This Lease is executed in duplicate the /~ day of IJoU(!M.ti!/'",
<br />19 fl , between WERNER EQUIPMENT, INC., a Nebraska corporati()n, of 129 East
<br />Second Street, Hast;nqs, Nebraska 68901 ("Lessor") and
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<br />("Lessee", whether one or more).
<br />John J. Bode and Virginia M. Bode Husband and Wife.
<br />RECITALS
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<br />Lessor is the mmer of a tract of land described in the attached
<br />Exhibit A \Thieh is situated on a oortion of Lot Seven (7) and the accretions
<br />thereto, in Section Six (6). Township Nine (9) North, Range Ten (10), West
<br />of the 6th P.M.. Hall County, Nebraska, and comprisinq a part of a tract of
<br />land to be suMi vi ded by the Lessor and known as WILD ROSE RANCH ESTATES
<br />and agrees to lease the unimproved real estate described in Exhibit A to
<br />Lessee upon the fol1owin9 terms and conditions:
<br />
<br />1. ~erm 0f Lease. The initial term of this lease shall be for
<br />fifty (511) years beoinnina on the /1" day of ).Jove.... bt:.F ,19 <; I , and
<br />endiNl on the //:0 day of IIJ;Jvc..-...bw , 2031 , without further notice unless'
<br />renewed from tirr,.e to time as hereinafter provided.
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<br />"' Renewal of Lease. If the Lessee shall faithfully perfonn all
<br />of the covenants and aQreeJt1ents herei n n:Qu; red to be pel-formed by Lessee
<br />dUr1nQ the initial term of the '~dse and dny renewals, Lessee shall have the
<br />rioht ilnd OPtion to renew this lease for 2 successive ten (10) year terms,
<br />and thereafter 'or 2 successive 'ive 5' veal" terms Unon the same terms and
<br />cond;tions as her01n provided. Notice of Lessee s renewal of this lease
<br />from time to tHH: sha11 be civen to Lessor 1n writinq at lease sixty (GO)
<br />d~;l,'l~ or-ior to the exp~ration of the init~a1 or an_y ren4!wai term.
<br />
<br />..>. ion of lease-ho'''. The Lessor herebv leases to the
<br />Lessef.!, -""~O-r-thecoven~r:t~ ~nd acreements herein conta'ined:.
<br />indudion the pdyment of rent, a Ddrcel of u'11m'.lroved 1and in Hall County,
<br />Nenr'aska. k<1(JWn as :.Jj ld Rose Ranch Estates, saie trect of land beino more
<br />Ddrticular-!)' cteS(t'"'H:H!d ~n the attached Exoibit ~..
<br />
<br />~. Rent# ~essee aoree. to Day and Lessor aorees to accept as
<br />rent for the un1!.iii,'{)\,ed real estate <'escribed in E~hjbit A, the Sl..1H of
<br />Twt.'flty-rOur Hl0USMIQ Do nus {$24 .OX.!)C j for the j oi ti a I twenty (20) .'fear
<br />term, payable cwartet']Y- in aovan<:e at the rate of Th,"ee Hund~d Oo11a,"s
<br />($300.})) per QuaneI' year, COOlllencino at the be9innifl{j of the lease tenn
<br />at Lessor's office ;n Hastings, Nebraska, or at such other place as Lessor
<br />shall direct in writinfl, Md subject to the rental adjustment provided for
<br />here! n.
<br />
<br />S. ~~~l Adjus~. Durin{j the initial lease term and curino
<br />Jny renewa I term, the <H\llucil rental shan be adjusted at the heei nni nG of
<br />every fifth year, beinq the lease years cO!Wlencin!;l June 1, 1986, 19~H, ilnd
<br />1996, and at jike ~ive (5) year intervals during the ori~inal term and any
<br />renewal terlll or terms so that the annual rental during such five (5) year
<br />intervals st)al1 b@ equal to the 9reater of:
<br />
<br />(aj $1,200.00 per lease year, or
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<br />(b) 51.200.00 per lease year ~ltiplied by a fraction, the
<br />n~rator of which is the "CPl" (as herein defined) for the
<br />months of Janaury. 1986. 1991 awd 1996, durinn the initial
<br />term, ane! each fifth Januarydurinn any renewal terms, and
<br />tr\tdellO!l\inat~r of whiCh is the "CPI" for Jar;uary. 1981. The
<br />tfNil "CPt" shaH met\n the COI'\SUl!ler Price Index (1978 Revi sed)
<br />oublhhed from ti~to time by the United States f1e\)artment of
<br />labor. Bure4U of UbOrStltfit1cs.. or its suc<:essor index. In
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