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J � .A F 90- -1053so March 1, 1975 THIS AdRzabu= entered into between WESTER LAKE, INC., LESSOR, and portion not epplioav) whether one or more, LASSES. Lots 9 and 10, having a lake front footage 1. Dagcz.12tion ,. 9f leaa2yremises: of 105 feet, situated on the East side of the Mast portion of Kuester Lake and being on a part of the Elg*Wh in Section 13, Township lie Range 9, in Hall County, Nebr., bounded on the Northeasterly side by a conown roadt such lots are as shown on a plat in the possession of Lessor. • yeai commencing March '- . d terminatiug Februaax 211,..In_• 9. Os>tion to extend teen: 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, 2009. 4. Ridbt to asaianment of leases 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 (tester Lake, Inc= (c) The new Lessee agrees, in writing, to abide by the terms of the lease so assigned, any new lease for these premises. rrtld to abide by the Agreement entered into by ti -ds 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 new lease for a S5 year term. The term may be longer if consented to by the Lessor, (e) Any sub - leasing must have the Lessor's approval. (9) The Lessee has the absolute right to conditionally assign this lease to any mortgagee for the purpose of furnishing sucla mortgagee additional security. 5. gds Thti',:w -edsee shall pay to Lessor, as annual rent, payable in advance and on or before July first each year, such rent as may be annually determined by the Lessor under the followlAg fortsu.+.la: The annual rent shall b�c: an amount. each year, equal to the result of dividing the total number of residential lessee - stockholder lots into that year "o anticipated net budget nee" of the Lessor. Thip (computation Of the annual reset shall be done by the Lbaact�. k4t mall be uniform iwzong; all lessee- stockholders of Kuester Lake, Inc. In 4A3y event, time annual rent of the, 1.vesee shall not exceed One W,�=dred Dollars t$100.0W unless a majority of all lessee - stockholders of Kuester Lake, Inc. (one vote for each share) , present and voting shoal at a special m4eting coaled for that purpose, approve the same. 6. AGO=a The Lessee shall have access from the leased premises onto the Lessor's roads sands shall also have the r1gkt to use the lake for bootinq, swimming and fishing. These access s rights are in coawion with the other leaseholders at Kuester Lake. 6-a, Prior Ife"Oss This leaswhichl the slem�eaeuorrhinepredecessorslQastitle may d P • have held. PC R� I