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<br />LEASE AGREEMENT
<br />
<br />THIS AGREEMENT entered into between KUESTER.
<br />
<br />WILLIAM P. JEFFRIES. .... ... .......................
<br />~ocXj{o::KiXf(XO(OOX'OOXUXX~X<<~Ks:XiJXXQ!~~(as sole oWllet').. (sttikElol.J.t\......
<br />portion not applicable) whether one or more, LESSEE. . .. ..... .......< ....... ........................................
<br />Lot l,having a lake front footilge.of94feetj
<br />1. Descrition of Leased Premises: situated on tbe East side oFtheI\al'ltpo~tion.of
<br />Kuester lake, and being on a part of the SW of Sec. 13, TUN, R9, West of the 6th P.M';~H
<br />County, Nebraska j bounded on the Northerly and Westerly sides by the cOOll1Ol1ioad;the,; exactdl~
<br />mens ions of such Lot are now as shown on a Survey dated March 8, 1983, by'. Ly1eW; DaV:IS;~tl
<br />Surveyor, attached hereto, and further, the dimensions are as set forth onaseconp.attach/rient
<br />hereto. '
<br />2. Term of Lease:
<br />~ years, commencing
<br />Julv 31. 2018
<br />
<br />\;~,,_.-:,,;:~
<br />.2-;0;'>";'
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<br />;!...';.',
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<br />
<br />r"c.<,
<br />
<br />August 1, 1983
<br />
<br />and terminating.
<br />
<br />3. QQtion to Extend Term:
<br />Lessee has the option to extend the term of this Lease for an
<br />additional 35 years by giving Lessor notice thereof, in writing,
<br />by June 1, 2018
<br />
<br />4.
<br />
<br />Right to
<br />Lessee
<br />(a)
<br />(b)
<br />
<br />(c)
<br />
<br />Assignment of Lease:
<br />has the rIght to assign this Lease provided:
<br />Lessee has complied with all terms of this Lease.
<br />Lessee transfers to the new owner all interest and
<br />ownership of the Lessee in the common stock of
<br />Kuester Lake, Inc.
<br />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 ent-
<br />ered into by this Lessee with Kuester Lake, Inc, on
<br />or about November 4, 1974, the terms of wh ieh fir/'
<br />incorporated herein by refen'ncc,
<br />The new Lessee shall be entitled to a new Lease 1'01'
<br />a 35-year term. The term Illay hl' longer if consent('r1
<br />to by the Lessor.
<br />Any subleasing must hav,' the Lessor's ill'l)I""I:11
<br />The Lessee has the absolute right to eond It i <,'lln II y
<br />assign this Lease to any mortgagee [or the Plllllos€'
<br />of furnishing such mortgagE''' IHlrlitiolllll sec\II-;ly.
<br />
<br />(d)
<br />
<br />(e)
<br />(f)
<br />
<br />5. Rent:
<br />Ttie Lessee shall pay to Lessor. as anllu,d rl'nl, 1':1'1.11.111' ill ,,01
<br />vance and on or before July first each Y'~,11', flllCh ""111 1111 111:1'1 I",
<br />annually determined by the Lessor IIndl'l- lhr rrd 1''''''''1; fprllll""
<br />The annual rent sha 11 Ill' :111 ""HlllliI, "'1..1t \"':1 I
<br />equal to the result or dividilll', tlte 1..1:11 'HIP'
<br />her of residential It'>;;;:;p(\.-t::.tochllnldpy" I'll:s Illlil
<br />that year's anticipalpd 'IPt hlld):"l 11<"'011' "I II"
<br />J,essor.
<br />The computation of the annual r"llt sliill J b., dll"" I,', II", 1,.'".",1'
<br />but shall be uniform among all Ipsspe'-slockl1oldcr:;..\ II', 1('1'
<br />Lake, Inc. In any event, the allnual rent of the I...,,,,,,,,. ..It:d I
<br />nQt: exceed One Hundred Dollars ($100.00) unless a wlljolily
<br />of all lessee-stockholders of Kuester L(1ke, Inc. (one vote for
<br />each share), present and voting at a special meeting called
<br />for. that purpose, shall approve the same.
<br />
<br />6. Acces.s:
<br />""The-tessee shall have access from the I eased p relll i. Sf!'; 011 tn I hI'
<br />Lessor's roads and shall alfJo have the right to use L111~ I:dt,.
<br />forbol!lt~ng, swimming, and fishi.ng. These access right" Ill" If I
<br />('OUlnlon II/lth the other leaseholders at Kuester Lake.
<br />
<br />
<br />un. l.'r tor t,aAllC II:
<br />"-"ffiT;-r.eaa.e t'eplaceaand sUl?ersedes any prior Lease for ';a id 1'r>'IIl-
<br />iSe5which the Lessee. or hlS predecessors in title fIlay Ilave lwld.
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