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201109034
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Last modified
12/5/2011 9:13:32 AM
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12/5/2011 9:13:32 AM
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DEEDS
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201109034
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20i109034 <br />committed familial relationship to each other, even if not related by blood or adoption, <br />together with any children in any way related by blood or adoption to either of the persons <br />residing in a committed familial relationship. <br />14. Termination of Lease bv Default of Lessee. If the Lessee fails, after ninety <br />(90) days prior written notice from the Lessor, to remedy any default in his or her <br />compliance with any of the obligations binding upon him or her under this Lease <br />Agreement, or under the Rules and Regulations furnished him or her by the Lessor, the <br />Lessor may, at its option, terminate this Lease and retake possession of the leased <br />premises but only after the following procedure has been complied with: <br />(a) A special meeting of all stockholders of Lessor shall be called <br />by the Board of Directors of Lessor, and written notice of such <br />meeting and its purposes be given all such stockholders. <br />Such meeting shall be called for the purpose of determining <br />by majority vote of the stockholders of Lessor, present and <br />voting, as to whether or not termination of Lessee's Lease <br />should be made because of a default by the Lessee. At least <br />ten (10) days written notice shall be given of any such meeting, <br />and the Lessee shall be given full opportunity to show why his <br />or her Lease should not be terminated. <br />(b) If a majority of the stockholders of Lessor, present and voting <br />at such meeting, determines that Lessee is in default under <br />his Lease and that the same should be terminated, the <br />Lessee shall have one hundred twenty (120) days within <br />which to remove his or her improvements on said premises; <br />and, if he or she fails to remove the same within such 120 <br />days, the Lessor and the Lessee shall join in a public auction <br />of the improvements remaining upon said leased premises, <br />and the net proceeds from any such sale shall be applied as <br />follows: <br />FIRST in the payment of any unpaid rents or other amounts owing <br />by Lessee to Lessor; <br />SECOND any remaining proceeds, subject to the rights of <br />mortgagees, shall be paid to the Lessee. The Lessor agrees to give a new <br />Lease to a suitable purchaser at such public auction. <br />THIS LEASE AGREEMENT shall bind the Lessor and the Lessee and their <br />personal representatives, successors, devisees, legatees, heirs-at-law, and assigns. <br />Dated this '�day of October, 2011. <br />KUESTER LAKE, INC. <br />, � . <br />By , <br />Eric R. Christens n, Its resident <br />LE�SOR <br />r <br />Roy Ni oth <br />L�� <br />Terri L. Niemoth <br />LESSEES <br />
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