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<br /> Iii Q~ <br /> =- c: m en <br /> 0 ('\ Z n:c <br /> -=:: ,.;; <br /> :bi %~c <br />I'V z ~cnfP 1"'-.3 <br />s ~ c;) o (fJ <br />s ~::c C=> <br />CO c;") CD O~ <br />S 1"11 ~~ 'Z c:l> <br /> :z~ <br />CD ...... = --IfTl <br />(J) ::::t c::=; -<0 <br />0J ~ <br />~ r- N 0"'" <br /> .." ....... "'T1z <br /> ....., <br /> '" r ::r: fTl <br /> "., 0 <br /> ;:;a ,..., -0 }>OJ <br /> /i.''I!''''' fT'I r- ::u <br /> <: 'j;a' ::::3 <br /> ,.: 1':" c;r rI> <br /> n en en <br /> .rt'I NJ :::><: <br /> V) ]> <br /> N -..; .-..; <br /> LEASE AGREEMENT C.1l en <br /> en <br /> Dated: November 20th, 2008 <br /> <br /> <br /> <br />THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and <br />Gordon L. O'Neill and Colleen K. O'Neill, husband and wife as joint tenants, LESSEES. <br /> <br />1. Description of Leased Premises: <br /> <br />Lot Seven (7), situated on the East side of the West portion of Kuester Lake <br />and being on a part of the East Half of the Southwest Quarter (E1/2SW1/4) <br />in Section Thirteen (13), Township Eleven (11) North, Range Nine (9), West <br />of the 6th P.M., in Hall County, Nebraska <br /> <br />such lots are as shown on a plat in possession of Lessor. <br /> <br />2. Term of Lease: Thirty-five (35) years, commencing November 20, 2008 and <br />terminating November 19, 2043. <br /> <br />3. Option to Extend Term: Lessees have the option to extend the term of this <br />Lease for an additional 35 years by giving Lessor notice thereof, in writing, by August 20, <br />2043. <br /> <br />4. Riaht to Assianment of Lease: Lessees have the right to assign this Lease <br />provided: <br /> <br />(a) Lessees have complied with all terms of this Lease. <br />(b) Lessees transfer to the new owner all interest and ownership <br />of the Lessees in the common stock of Kuester Lake, Inc. <br />(c) The new Lessees agree, in writing, to abide by the terms of <br />the Lease so assigned, any new Lease of these premises, <br />and to abide by the Agreement entered into by this Lessee's <br />predecessors in title with Kuester Lake, Inc. on or about <br />November 4, 1974, the terms of which are incorporated <br />herein by reference. <br />(d) The new Lessees shall be entitled to a new Lease for a 35- <br />year term. The term may be longer if consented to by the <br />Lessor. <br />(e) Any subleasing must have the Lessor's approval. <br />(f) The Lessees have the absolute right to conditionally assign <br />this Lease to any mortgagee for the purpose of furnishing <br />such mortgagee additional security. <br /> <br />5. Rent. The Lessees shall pay to Lessor, as annual rent, payable in advance <br />and on or before July first each year, such rent as may be annually determined by the <br />Lessor under the following formula: <br /> <br />The annual rent shall be an amount, each year, equal to the <br />result of dividing the total number of residential lessee- <br />stockholder lots into that year's anticipated net budget needs <br />of the Lessor. <br /> <br />The computation of the annual rent shall be done by the Lessor, but shall be uniform <br />among all lessee-stockholders of Kuester Lake, Inc. In any event the annual rent of the <br /> <br /> m <br />0 ~ <br />N :0 <br />m <br />0 0 <br />0 :x- <br />U) <br />co ~ <br />0 <br />CD c= <br /> ..~ <br />0') ,.I.... <br />I:" <br />(...) :~ <br />....... Z <br /> 0 <br /> <br />v <br />C7~ <br /> <br />o <br />