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~0-~ i)~i~-,2`?U CANCELLATiih*1 4F LEASE WHEREAS, a lease agreement was enterer' inter by and between August Lewis Fonner and Emma Former, his wife, and Phfllips Petroleum Company on September 15, 1953, for Chat property described as (allows: A tract of land Lying in the Northwest Quarter of the Sauthwest Q!~arter {NW--'~) of Sectian 'Iwent_y-two {22) in Township Eleven {1.1) North, Range Nine {~?) west of the 5th P.M., mare particularI.y described as follows: Cammenci.ng at a point .S3 fact East and '320 feat South of the Northwest corner af' said Sauthwest Quarter {SW~~) of said. Sectf.on Twenty-two {22) as the point of beginning, running thence rant and. parallel to the Narth Line of said Scwxthwest I~.ra~rt~er (S4d~~) af'" said Se~etiort "~IRaanty-two {22) a distance of 327 Ceet, running thence Sauth and paral.iel to the West Line of said Section 'Ib~enty-two {22) a distance of 200 feet, running thence west and parallel to the Narth Line G said Southwest Quarter {SW's) of said Section Twenty-two (22) a distance of 32? feet, ninriing thence North and parallel to the west line or`. said 3ecttcm Ztac.nt:s,/-two 42"l.), ~~a distance:. of ~titir ~ee_ co the poinfi of beg,,a.nning, - ,.-..... - - - , "' ~W, ar~d ending t'~or 3 perl.c'~~c. ~.ai rusyEnty .~~!~ year»r fa°a~m ~lafiii~8rv 1 r-.3 tl~e.eember 1.L . I.9 a 3 twFHEEtN:AS, such 'case agreement pravidcd ±±-err an :,p ti.on far an additianal twenty years far a period ending December 31, 1994; WIiERF,.AS, such lease was assigned to Frauen OiI Company, a Alebra5ka eorporatLar, and Frauen Oil Company has been perform- ing the obligatians and making payrrrent GY rent as provided in such zeaae agreement; SdfiEREAS, on the third c4ay of ,3une, 1.950, tho impr~~vcxr+ents located an such property were destroyt~d by zx tarnada to such an ~ E;i 1 Co:::paet}, Ry,. ,.tua; i ~.i eXCe~t ctt~t i[. z6 z61pr c1iticax iGr Fraucrt - - -- the structure Chereon, and Ftauen Oil t',an~pany ~~csirts tt4at such rase agreement be cancelled and tr~rminatt., tc~:-thsaith;