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LEASE AGREE41EI3T ~ Z -- 0 0 ~ `~
<br />Tcil5 AGREE.'4Ei~"T entered into between KUESTER LAKE, IL3C., LESSOR, and
<br />~.T~'"'2..ti`~ L-. P~11~1 R18f~ Mll(f$EEN L-. fltLY'M)N, hII_al~nd anA wtfak_~ja_nt ar~anf•.n
<br />fr~ksx#xxr~owoman} {a~gss~~re~') (strike out
<br />portion not applicable} whether one or more, LESSEE.
<br />1. I)~g;~,~„~;~sj~ of lea ed premises: Lot 25 anal the Southerly 10 feet of-Let 24,-
<br />Y~via~ a lie fr~,£ f€xz£ag~ csf 123 feet, situated an the west side of the West portion of
<br />Kueattez Lane arm being on a gaze of the E~ssw9c in Sezntion 13, Tbvnghip il, Pangg 9, irr Hall
<br />comsty, Nebr. boastded o~nt~ ~gte~~ianofb~tae ~esc~ nn road: such lot is as shown on a plat
<br />~. TsrFa cif .lease:
<br />35 years, commencing April 16. 19e1 and terminating
<br />""" Acrd 16. 2815
<br />,~. O,ntion to extend term-
<br />Lessae has the ogtion to extend the term of this lease for an
<br />additional 35 year b~ giving Lessor notice thereof, in writing,
<br />by July 1, Y' c:!l~i ~i
<br />2015 ~"~'
<br />4. R~.ght to assicrnment of lease:
<br />Leases has the right to assign this lease provided -
<br />{a) Lessee isas eomglied wick all ters;~s of this lease.
<br />{Yy} Lessee transfers to the new owner all interest and
<br />ownership of the Lessee in the coranon stock of
<br />Koester Lake, Inc.
<br />{c3 The new Lessee agrees, in w-ruing, to abide Say the
<br />terms of the lease so assigned, any new lease for
<br />trtes€3 pzesicise5, aiIIi %v a~,i.,~ 7 y.......------
<br />entered into by this Lessee with~Kuester Lake, Inc.
<br />on or about ~lovember 4, 1974, the terms of ~:hich
<br />are incorporated herein by reference,
<br />fd} The new Lessee shall be entitled to a new lease for
<br />a 3S year term. The tern shay be longer if consented
<br />to by the Lessor.
<br />fe) Any sub-Iea;~ing s^.ust have th~* ;,essor's .:p~.rcvai.
<br />ff} The Lessee ras the a,sol4te right to coa~:itl.ona2ly
<br />assign this lease to any mortgagee for the purpose
<br />of furnishing such mortgagee additional security.
<br />5,
<br />The Lessee shall pay to Lessor, as annual rent, payable in
<br />advance and on or before .7uly first each year, such rent as
<br />maY 2>e annually detesmired by the Lessor under the following
<br />foz9nula:
<br />The annual rent shall lac an amount, each year,
<br />equal to the result oz dividing the total
<br />number of resid$ntial leases-stockholder lots
<br />into that year's anticipated net budget needs
<br />of the Lessor.
<br />Ths c~:;putation of the annual rent shall be done by the
<br />L~sssor, 2~t shall be uniforn- among all lessee-stoc7cholders
<br />of Koester Lake. Inc. In any event, the annual rent of
<br />the Lessee shall not exceed one Hundred Aoilars {$100,00)
<br />unless a majority of alI lessee-stockholders of Koester
<br />-.Lake, Inc. {one vote for each share}, present-and voting
<br />8t a special Meting called far that purgase, shall
<br />approve the same.
<br />~:t`- " ,
<br />~. Aess:
<br />Lessee shall have access from tl'te leased premises onto
<br />the Le$sar's roads-and shall-also haves the right to use
<br />the lake far boating, swixas~inq and fishing. These access
<br />rlght~s are in ecseson with the other leaseholders at
<br />Koester Laps,
<br />~.s 1.+aase replaces- and supasrsedes any prior lease for sails
<br />sea-tirh:ich tk~ lessee or-his predecessors in title-may
<br />ham iti~sl.
<br />e
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