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year tenancy can be terminated under Nebraska law only “by an
agreement of the parties, express or implied, or by notice given,
six calendar months ending with the period of the year at which
the tenancy commenced.” Regardless of whether the automatic
renewal provision created a year-to-year tenancy, however, the
parties agreed to discharge the initial agreement when they
executed the 1990 real estate lease.5
The 1990 agreement increased the monthly rental price from
$5,580 to $7,425. The rental price is a material term of the
lease and is inconsistent with the rental price stated in the May
1, 1986, agreement. See Cooperative Refinery Association v.
Consumers Pub. Power Dist., 190 F.2d 852, 858 (8th Cir. 1951);
The Nebraskans, Inc. v. Homan, supra. The parties’ intent to
replace their earlier agreement is evident in the 1990 agreement
itself. The document is entitled “Real Estate Lease”, it
includes all material terms of the lease, and it was signed by a
5 The 1989 and 1993 agreements reflect changes in the PC’s
name. Respondent argues that the changes in the professional
corporation’s name constitute changes in a party to the lease. A
professional corporation, however, is a legal entity separate
from its shareholders and officers. See Neb. Rev. Stat. sec. 21-
2203 (1997); United States Natl. Bank v. Rupe, 296 N.W.2d 474
(Neb. 1980). A change in a professional corporation’s name does
not change the underlying entity. See Neb. Rev. Stat. secs. 21-
2204, 21-20,116, 21-20,124 (1997). Likewise, changes in the
ownership of the 1203 Partnership do not amount to a change in a
party to the lease. See Neb. Rev. Stat. secs. 67-306(1), 67-330
(1996); Ravenna Bank v. Custom Unlimited, 391 N.W.2d 557, 561-562
(Neb. 1986); Bailey v. McCoy, 193 N.W.2d 270, 273 (Neb. 1971).
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