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Hall County Board of Equalization April 2, 2016 Page 3 The length of the building lease will be for a one-year period after the date it is signed. (The building is a small 150-square-foot storage building.) The crop lease will run from March through December 2016; the grazing lease will run from March through October 15, 2016; and the hay lease will run from May 16, 2016, to November 16, 2016. The amount of these lease agreements are at or below fair market value. Even if the Board believes the leased acres on these six parcels should be taxed, the Crane Trust is still entitled to a tax exemption on those portions of the six parcels that are not under a lease. Nebraska Conference Ass'n of Seventh Day Adventists v. Board of Equalization of Hall County, 190 Neb. 658, 662, 211 N.W.2d 613, 616 (1973) ("[T]he value of the nonexempt portion of the property is not subject to taxation.") C. The Crane Trust will lease all of the property on 13 of the 28 parcels. The Crane Trust expects to lease all of the acres on the following 13 parcels for the 2016 year. Parcel Total Acres Lease Type Total Acres Leased_ 400218569 118.00 grazing All 400218593 115.00 grazing All 400218607 158.45 grazing All 400218755 79.22 grazing All 400218941 72.00 grazing All 400218968 145.00 grazing All 400218984 203.00 grazing All 400218992 63.00 grazing All 400219026 156.62 grazing All 400219034 393.00 grazing All 400219085 30.00 grazing All 400229552 31.15 grazing, hunting' All 400229609 116.18 crop, grazing, hunting All Total 1,680.62 The grazing leases will run from March through October 15, 2016. The crop lease will run from March through December 2016. The hunting contract is between the Crane Trust and the Nebraska Game and Parks Commission. The contract allows the public to hunt on Parcels 400229552 and 400229609 during all months except for the crane season months of February 1 — April 15. The amount of the crop, grazing, and hunting agreements are at or below fair market value. The hunting contract is not a lease agreement.