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r` ~° ~ ~. J~ LEASE AGREEci1ENT TIiIS A6REENtENT entered into. between KU'dSTER LAKE, IISC.. LESS~A, atc3 rv R. Jacobson portion not applicable} .whether one or trots; T.ESSEE. Lot i8, having a lake front:footage ~8 ft. 1. Description o£ leased pretn:.ses• situated on-the West side of the West portion o£ Kuester Lake and being on •a part of the East Half of the Souttawest Qsarter in Section Z3, Township li Range 9, in Hall County, NE, bound~d.on°> y~s€~rl~ side by a common road; such lot is shown on a-plat in the possessionf essa ~, fierm o~~ lease: gg years; commencing Juiy 1, 1980 anti tertaSnatsng "- 3une 30. 2015 3. Qption to extend term: Lessee has the option to extend the term ~~ this lease ioL' ari additional 35 years by giving Lessor notice thereof, is writing, by ~~xx3~Es0~ January 1 , 2015. 4. Rit7itt to assia:urtent of lease: Lessee has the right to assign n::is lease provided - ia} Lessee has complied with all terms of this lease. (b} Lessee trot fers to the new owner all interest anti ownershia of the Lessee in the common stock of Kuester Lake, Inc. (c} The new Lessee agrees, in writing, to abide by the ten;~s of the lease so assigned, ar_y new lease for these premises, and to abide by the Agreement entered into by this Lessee with Kuester Lake, Inc. on ar about :davember ~, 1974, ti:e terms of which are incorporated herei^. by reference. i==, i':=a ..ew ;.,a=sea shall ;ae .f...._tled to a ;ew ease for 'K ~ _..:. ~Q ~«k,P~.:ay b.~ tong,~r if~vonsenteo _ tbaayj uze :.e;aSar. (e) Ary sui7-ieasirg muse have '; he Lessor's aaproval. \2} ~n@ ~.e~SeF- hc`S5 ....~ 3.`lvciis.tG .C';-q','St Ca Cart it.iona.lly of fllrnistlinfI SllCt1 mortCatl6e additional~seCUrity. ~ ~~• ~' h&' LBSSC2 Shill pay tC :.CS SCr, u:i ~n:;ual .. ;;nt, payaiv~i_ :., advance anti on ar `rxefore July titre each year, auc:l rent as :lay be a.'Snuaily determined by the Lessor under the following formula: ',;;e annual reYlt shall be ran .,:Haunt, each year, egual to the result erf div;ding the total number of re3idential ;.asses-stockholder lots irto that year's anticipated net budrjet needs of t'rle Lessor. 'I'ha computation of the anslual rent shall be done uy the L~i~~ar. :?Ut shall ??~' Uniform d!QY1t? all iS-'SuE:e-; tackhalt7.er3 ar nUC~ter +..aK~', y:.C• -.. any e:VC:C.t, tl'lE: .:.nItUal rt'I?t az the Lessee shall not exceed One ::un3red Collars !$1vc~.OuJ unless a Illajority of all lessee-atockYlalders az <:uester Lakes, inc. fare vote for each sklare} , prestszlt and voting at a special tHweting vaned far ttlat pr+rposa, shall a.ppt±ave the sa.>.s, c'S ~` ~>-. eaC~ Ces~ t The Lessee shall have access from the .leased nrenlises auto the Lc~ssar's roads and shall also have ins right to use. r,a lake far baat,.ny, ., t:;, =rd : is".^._ng. '"'.^_ese acc~:ss rigtbts era in acazriman with the ether leaseholders aL- kuester Lake. b-•a. ~ L•~asE~ inns lease r~rplaeas and superseaes aa;y prsor lease far ;ard arealises which the lesaae car his pred®ce~sstirs in title t.,ay `.tnve i~ld.