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TRISAGREEMENT enter'ed into between KUESTER LAKE, Franc:i.s E. Fulton andJuneE. Fulton (as joint.'. tenants)....LAW ~eftlllft~J!l-:i:ft. eeM\\aI'l)--falt-5e~-_.. ..er}- (strike.out portion not applicm~) whether one or more, LESSEE. 'ic Southerly one-half of Lotl!;>, and all 'ofiLot:iiH 1. Description of leased premises: 16, having a lake front footage of 7.0' fe~t; Edtuatedon the East side of the East portion of Kuester Lake and being ori a part ofitbe~~ in Section 13, Township 1l,Range 9, in Hall County, Nebr., bOunded on the Easterly side.by the common road; such lot is as shown ona plat in the 2. Term of lease: possession of the Lessor ~years, commencing M",r,-.h 1 Q7<; and terminating Februarv 28, 2010 ..;:/,--,.-,..".;. 'f~~l 1 "l J! March 1, 1975 83-005029 LEASE AGREEMENT ,,;-.;, "" . ~ : ~,,^j'; 3. Option to extend term: Lessee has the option to extend the term of this lease for an additional 35 years by giving Lessor notice thereof, in writing, by July 1, 2009. 4. Riaht to assiqnment of lease: Lessee has the right to assign this lease provided - (a) Lessee has complied with all terms of this lease. (b) Lessee transfers to the new owner all interest and ownership of the Lessee in the common stock of Kuester Lake, Inc. (0) The new Lessee agrees, in writing, to abide by the terms of the lease so assigned, any new lease for these premises, alld to abide by the Agreement entered into by this Lessee with Kuester Lake, Inc. on or about November 4. 1974. the terms of which are incorporated herein by reference. (d) The new Lessee shall be eqtitled toa new lease for a 35 year term. The term may be longer if consented to by the Lessor. (e) Any sub-leasing must have the Lessor's approval. (f) The Lessee has the absolute right to conditionally assign this lease to any mortgagee for the purpose of furnishing such mortgagee additional security. 5. ~: The Lessee shall pay to Lessor, as annual rent, payable in advance and on or before July first each year, such rent as may be annually determined by the Lessor under the following formula; The annual rent shall be an amount, each year. equal to the result of dividing the total number of residential lessee-stockholder lots into that year's anticipated net budget needs of the Lessor. The computation of the annual rent shall be done by the Lessor, but shall be uniform among all lessee-stockholders of Kuester Lake, Inc. In any event, the annual rent of the Lessee shall not e:ICceed One Hundred Dollars ($100.00) unless a majority of all lessee-stockholders of Kuester Lake, Inc. (one vote for each share), present and voting at a special meeting called for that purpose, shall approve .the same. ~; The Lessee Shall have access from the leased premises onto the Lessor's roads and shall also have the right to use the lake for bQ;;lting. swimming and fishing. These access riqhtsarein conv,non w1th the other leaseholders at .Kuester Lake. tl;l9l ~'i':~'; .. 'l'hisl$a$ereplace5.and.supersedes any prior lease.for said pt:_sel.ilWbiCh the l('BliIee or biB predeot1lssors in tJ.tle may 'Mv.,.ld.