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<br /> <br />r <br /> <br /> <br />84""-" <br /> <br />003957 <br /> <br /> <br />LEASE .'A(;REEMEW.r <br /> <br />THIS !\,GR.EEMENT entered into between KUESTER LAKE, INC .,LESSOR, and <br />WILLIAMP,(BUD)<JEFFR1:ES ". i. . '. .... '.. .<> <br />(as Jointtel1ants) '(as tenants:m cOmmon) .(assoleowner)(strilte'O;t1t <br />portion not applicable) whether one or more,LESSE;E. ...................... .. ...... ,.'.ii. <br />. .. . .' . . . . .' Lots 'E,ighteen,(18)and.Ni:net,eev(19.')Yha'lr'ing <br />L. Description' of Leased Pre!llises :. alake frontage of20Q feet,$f~~t~q?11 <br />t.....he..... Ea..' .5. t sideo.f.th~ Ea., stPo.rti.on. 9. f..... l..fu. ...e.. s.t. e't......La. k.. e.6sn. d.. '. be. .l'.:ng.... ..;011. .......... a.....l....oa......r......t.........o.. <br /> .f........'.t........... <br />tioo13, TownshlP 11 Nortt,l, Range':J, West ot the tf:iP;M"ll1 &1 County.:, <br />bounded on the Eas ted Y slde by the comnon road; sald Lots are shpwnon a..pfat <br />possession of the lessor. . <br /> <br /> <br />2; <br /> <br /> <br /> <br />3. Option to Extend Term: <br />Lessee has the optJ.on t.oextend the term of <br />additional 35. years by giving Lessor notice <br />by ~X}t~xxxxxxxx1' January 1, 2018, <br /> <br />4. <br /> <br />Cc) <br /> <br />AssiRnmen t or Lea;>"~ <br />has thenght to a::.s:i.gn this Lease provided: <br />Lessee has complied with all terms of <br />Lessee transfers to the new owner all <br />ownership of the Lessee in the cOmmon <br />Rues tel' Lake, Inc. <br />Ihe new Lessee agrees, in writing, <br />terms or the Lease so assigned), a-ny <br />these premi ses, and to abide the <br />ered into bv this Lessee with <br />or about No~ember 4, 1974, the terms <br />incorporated herein by reference. <br />The new Lessee shall be entitled tOa new Leasefo;f <br />a 35-year term. The term may be longerifconaente'(jc <br />to by the- Lessor. <br />Any subleasing must. have the Lessor's approvaL <br />The Lessee haS the absoluterightto. conditionaLlY <br />assign this Lease to any mortgagee for the<purpose <br />of furnishing such mortgagee additional security.. <br /> <br />Right to <br />Lessee <br />Ca) <br />Co) <br /> <br />Cd) <br /> <br />Ce) <br />Cf) <br /> <br />5. Rent; <br />~ Lessee shall pay to Lessor, as annual rent, payablei'l1ad'" <br />vance and on or before July first each year, such rentasmay,be <br />annually determined by the Lessor under the fOllowing formula: <br />The annual rent shall be an amount, each year, <br />equal to the result of dividing the total nUl1!- <br />bel' or residential lessee-stockholdex-lotsinto <br />that year's anticipated net budget needs of th~ <br />Lessor. <br />The computation of the annual rent shall be done by the Lessor, <br />but sh&ll be uniform among all lessee-stockholders of Kuester <br />Lake, Inc. In any event. the annualrentottheLe"u;eeshaU <br />notell.ceed One. Hundred Dollars ($100.00) unleSlla majority <br />of all lessee-stockholders of Kuester Lake, rne, (one vote for <br />each share), present and voting at a special meeting called <br />for that purpose, shall approve the same. <br /> <br /> <br /> <br />6. Ac.ces.s: <br />"""ffii'Lessee shall have access from the leased premises onto. the <br />Lessor' !;.roads and shall also have the right to use the lake <br />forboatin&lswil1lI!ling, and fishing, These access rights are in. <br />c()I1lI!IQnwith the othe.r leaseholders at Kuester Lake. <br /> <br />t. <br /> <br />68, Prior i.eases: <br />'rh16Lease replaces and supersedes any prior Lease for said prem- <br />ises whien the Leuee or his predecessors in tit Ie may have he 10., <br /> <br />