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2(11_204750 FARM LEASE 1. PARTIES: Don Rasmussen of rural Hall County, Nebraska (called Landlord), and Michael Panowicz of rural Hall County, Nebraska (called Tenant), for good and valuable consideration as hereinafter set out, agree to all the terms of this Farm Lease. This lease sha11 be binding on the heirs of each party. 2. TERM: This Lease shall commence on the lst da.y of October, 2011, and end on the 30th day of September, 2024, and shall continually annually unless notice is given by either party to conclude the lease at least 90 da.ys prior to the end of the term or any successive periodic tenancy. 3. DESCRIPTION OF REAL E5TATE: The real esta.te, together with all fences (called The Farm) leased by Landlord to Tenant by this Lease, located in Ha11 County, Nebraska, is described as: The Southwest Quarter (SWl/4) and the South ('/z) of the Northwest Quarter (NW 1/4) of Section Five (5), Township Twelve (12) North, Range Eleven (11), West of the 6�' P.M. in Hall County, Nebraska, and The Northwest Quarter (NW 1/4) of the Southwest Quarter (SW 1/4) of Section Fifteen (15), Township Twelve (12) Norther, Range Eleven (11), West of the 6`� P.M. in Hall County, Nebraska.. 4. CASH RENT: In consideration of leasing of the above premises, Landlord sha11 receive Nine Thousand and 00/100 Dollars ($9,000) annually payable as follows: Nine thousand, and 00/100 Dollars ($9,000.00) on or before May 1 annually, to begin May 1, 2012. Both parties acknowledge that Tenant has already paid $3,800 towards the rent due on May 1, 2012. 5. TENANTS' RIGHTS AND DUTIES: During the lease term, Tenants will: A. Operate the Farm in a workmanlike manner and occupy the Fazm during the term of the Lease. B. Keep the Farm in as good a condition as reasonable use of the Farm will permit. C. Not permit waste on or damage to the Farm and use reasonable caze to prevent others from permitting waste or damage to the Farm. This includes not allowing irrigation water running to wash out the ends of the fields. D. Undertake no operations that will injure the land and shall not use any weed control with possible harmful carry-over for future crops. E. Be aggressive in the control of noxious weeds, keeping the fence rows and road sides cut and sprayi.ng for no�uous weeds at a11 reasonable times needed for aggressive control of noxious weeds at Tenants' expense.