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<br />LuhSE ~GRL~'~:Tl' Mareh 1, i~a75
<br />`i°dIS AGRr^.E.^~IE'7T entered ~ nto between I uTESTi;R LAi€E, I'4C. , :,E ,SGH, aa<i
<br />koy L. M?nnick and Rosalie iv''. Afinnic7c
<br />(as joint tenants~~s.cxsax~.s-~.~~~--fas-seri.-e--oarrzea~,'- :strike auz
<br />portion not applica'b'I'e) whether one or sore, LESSEE.
<br />Lot i3, having a lake front footage of
<br />1. Lescription of leased premises: 94 feet, situated an the East side 4f-the:
<br />West portion of Kuester Lake, and being on a part of the E~SS4~ in Section 13,•
<br />Township 11, Range 9, in Hall County, Nebr., bounded on the Norkheasterly side by
<br />the common road; such lot is as shown on a plat in the possession of the Lessssr
<br />2. Tern'. of lease:
<br />35 years, co.,snencing March 1, 1975 and terminating
<br />-- February 28, 20
<br />3. Option to extend term:
<br />Lessee has the option to extend the term of this lease for an
<br />additional 35 years by giving Lessor notice thereof, in writing,
<br />by July 1, 2009.
<br />4. Right to assiar•nent of lease:
<br />Lessee has the right to assign this lease provided -
<br />(a) Lessee has complied with all terms of this lease.
<br />(b} Lessee transfers to the new oFmer all interest and
<br />ownership o£ the Lessee in the corrsnon stock of
<br />Kuester Lake, Inc.
<br />(c) The new Lessee agrees, ir. writing, to abide by the
<br />terms of the lease so assigned, any new lease for
<br />these premises, and to abide by the Agreement
<br />entered into by this Lessee with Kuester Lake, Inc.
<br />on or about November 4, 1974, the terms of which
<br />are incorporated herein by reference.
<br />(d) The new Lessee shall be entitled to a new lease for
<br />a 35 year term. The term nay be longer if' consented
<br />to by the Lessor.
<br />(e) F*ry sub-leasing :rust .~ .~ the Lessor's appr~-~1.
<br />(f) The Lessee has the absolute right to conditrorally
<br />assign this lease to any ~:ortgagee for the purpose
<br />of furnis'.:irq Such ; ,ortgagee additional security.
<br />5. Rent:
<br />:e Lessee shah pay to Lessor ~ annum pert, paya.,le ~..
<br />advance and on or before ~uiy ~~rst each year, such rent as
<br />may be annually determined by the Lessor under the ollowing
<br />forrituia:
<br />The anneal rent shall be an an~,ount, each year,
<br />equal to the result of ~~ivic;ing the total
<br />number of residential lessee-stockholder lots
<br />into that year's anticipated net budget needs
<br />of the Lessor.
<br />The computation of the annual rent shall Ue done by the
<br />Lesser, but shall be uniform among all lessee-stockholders
<br />of Kuester Lake, Inc. In any event, the annual rent of
<br />the Lessee shall not exceed One Hundred Dollars 1$100.00)
<br />unless a majority of all lessee-stockholders of Kuester
<br />Lake, Inc. (one vote for each share), preserL- and voting
<br />at a special meeting called for that purpose, shall
<br />approve the same.
<br />o. Access.
<br />.The Lessee shall have access from the leased premises onto
<br />tl-ie hessor's roads and shall also have the right to use
<br />the lake for boating, swimming and fishing. These access
<br />rights are in common with the other leaseholders at
<br />Kuester Lake.
<br />6-a. Prior Leases:
<br />This lease replaces and supersedes any prior lease for ,atd
<br />premises which the lessee or his predecessors ir, t.1tiC ,~~~y
<br />have held.
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