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<br />-=: ~° <br />~~® ~ ~ <br />C ? U> m <br /> n ~. ~ <br /> <br /> <br />! ~ . <br />. ~ ~'I <br />. <br />V / r~ 7 <br />r .... Via <br />~ ~ <br />If~~' ~ I-+7 <br />m a ^~ <br /> <br />~ TT f'r] <br />r ~7 Q p~j <br />~ ~ ~ <br />~ <br />~~ "71 ~+ <br />~ t/> <br />7C ~ C <br /> <br />rw~~ <br />C1'1 ~` <br />-~ `-~ .,,~ 111'1 <br />~ <br /> <br />~..~..~^ C!a <br /> LEASE AGREEMENT ~ <br /> Dated: ~/~Iy 3® , 2010 <br /> THIS AGREEMENT entered into between KUESTER LAKE, INC., LESSOR, and <br />TIM C. PLATE, LESSEE. c~ <br /> I. Descri tion of Leased Premises; <br />~. <br />Lots Nine (9) and Ten (10), situated on the East side of the East portion of <br />Kuester Lake and being on a part of the East Half of the Southwest <br />Quarter (E1/2SW1/4) of Section Thirteen (13), Township Eleven (11) <br />North, Range Nine (9) West of the 6t" P.M., Hall County, Nebraska <br />such lot is as shown on a plat in possession of Lessor. <br />2. Term of Lease: Thirty~five (35) years, commencing August 1, 2010, and <br />terminating July 30, 2045. <br />3. Option to Extend Term: Lessee has the option to extend the term of this <br />Lease for an additional 35 years by giving Lessor notice thereof, in writing, by May 1, <br />2045. <br />4. Ri ht to Assi nment of Lease: Lessee has the right to assign this Lease <br />provided: <br />(a) Lessee has complied with all terms of this Lease. <br />(b) Lessee transfers to the new owner all interest and ownership <br />of the Lessee in the common stack of Kuester Lake, Inc. <br />(c) The new Lessee agrees, in writing, to abide by the terms of <br />the Lease so assigned, any new Lease of these premises, <br />and to abide by the Agreement entered into by this Lessee"s <br />predecessors in title with Kuester Lake, Inc. on or about <br />November 4, 194, the terms of which are incorporated <br />herein by reference. <br />(d) The new Lessee shall be entitled to a new Lease fora 35- <br />yearterm. The term may be longer if consented to by the <br />Lessor. <br />(e) Any subleasing must have the Lessor's approval. <br />(f) The Lessee has the absolute right to conditionally assign this <br />Lease to any mortgagee for the purpose of furnishing such <br />mortgagee additional security. <br />5. Rent. The Lessee shall pay to Lessor, as annual rent, payable in advance and <br />on or before July first each year, such rent as may be annually determined by the Lessor <br />under the following formula: <br />The annual rent shall be an amount, each year, equal to the <br />result of dividing the total number of residential lessee- <br />stockholder lots into that year's anticipated net budget needs <br />of the Lessor. <br />The computation ofi the annual rent shall be done by the Lessor, but shall be uniform <br />among all lessee-stockholders of Kuester Lake, Inc. In any event the annual rent of the <br />