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- 80-- v ~ 4'7 3 7 /~~~'~`.'~' ~ tom, ~~' s' LEASE AGREEMENT THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and ~ R. Gunderson and Carol J. Gunderson as joint tenants) (-"-"-~°`- - ortian not applicable) whether one or more, LESSEE. 1. D se i tion of leased pr- ,i ;Lot 3, located on the North side of the. East ~or ion o LCues-"'fe' s'~c~~v'n~ a lake front gge of 46 feet, and being a par o the East Ha1~ of the Soutliw st Q arter (E~SW4) of Section 13,' Township 11, Range 9, in Hall 'County, NE, ~ounded on the northerly side Dy tthe ommon road and as shown on a plat in Lessor's possession.' Z. ~erm of lease: ' 35 years; commencing Aoril 16. 1980 and terminating _~Fril 15. 2015 3. Option to extend term: Lessee has the option to extend the term of this lease for an additional 35 years by giving Lessor notice thereof, in writing, by July 1, 83.2014. 4, Riciht to assicnment of lease: Lessee has the right to assign this lease provided - (a) Lessee has complied with all terms of this lease. (b) Lessee transfers to the new owner all interest and. ownership of the Lessee in the common stock of Kuester Lake, Ins. (c) The new Lessee agrees, in writing, to abide by the terms of the lease so assigned, any new lease for these premises, and to abide by the Agreement entered into by this Lessee with Kuester Lake, Inc. on or about November 4, 1974, the terms of which are incorporated herein by reference. (d) The new Lessee shall be entitled to a now lease for a 35 year term. The term may be longer if consented to by the Lessor. (e} Any sub-leasing must have the Lessor's approval. (f) The Lessee has the absolute right to conditionally assign this iaase to any mortgagee for the purpose of famishing such mortgagee additional security. 5. Rent: The Lessee shall pay to Lessor, as annual rent, payable in advance and on or before July first each year, such rant as nay be annually determined by the Lessor under the following formula: The annual rent shall be an amount, each year, equal to the result of dividing the total number of residential lessee-stockholder lots into that year's anticipated net budget needs of the Lessor. The computation of the annual rent shall be done by the Lessor, but shall be uniform among all lessee-stockholders of Kuester Laka, Irc. In any event, the annual rant of the Lessee shall not exceed One Hundred Dollars 13100.00) unless a majority of all lasses-stockholders of Kuester Lake, Ina. (one vote for each share), present and voting at a special meeting called for that purpose, shall ~ - approve the acme. $~„g.~: The Lassae shall have access from the leased premises onto the Lessor's roads and shall also have the right. to use the lake for boating, swimming and fishing. Those aocess rights are in common with the other leaseholders at Kuester Lake. 6-a.~Prig.~ Leases: This lease replaces and supersedes any prior lease for said premises which the lessee or his predecessors in title may nave held.