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LEASE AGREEMENT 200810197 THIS AGREEMENT entered into between KIM PALMER, LESSOR and GEORGE R. PALMER and JUDY L. PALMER, husband and wife as joint tenants, whether one or more, LESSEE. 1. Leaal Description of the Property: Lot 16, Indianhead Seventh Subdivision, Grand Island, Hall County, Nebraska. Lot Only. 2. Term of Lease. Thirty-five (35) years, commencing December 15, 2008 and terminating December 15, 2043. 3. Riaht to Assianment of Lease. Lease provided: Lessee has the right to assign this (a) Lessee has complied with all terms of this Lease. (b) Lessee transfers to the new owner all interest and ownership of the Lessee. (c) The new Lessee agrees, in writing, to abide by the terms of this Lease. (d) The new Lessee shall be entitled to a new Lease for a 35-year term. The term may be longer if consented to by the Lessor. (e) Any subleasing must have the Lessor's approval. (f) The Lessee has the absolute right to conditionally assign this Lease to any mortgage or Trust Deed for the purpose of furnishing additional security. 4. Rent. The Lessee shall pay to Lessor, as annual rent, payable monthly, on or before the 15th day of each month, such sum as determined as follows: The fair market value of the land is $25,000.00. The rent is to be $208.00 per month. If the Lessees are renting the improvements on the tract of land to the Lessor, than this may be taken as a deduction from the rent that the Lessor is paying for leasing improvements on the leased land. 5. Peaceful Possession. As long as Lessee conforms with the requirements binding upon him in this Lease Agreement, the Lessee shall enjoy peaceful possession of the lease premises. 6. Improvements. The Lessee shall keep the leased premises in a neat and clean condition at al/ times and shall keep all improvements on the lease premises in a good condition of repair.