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employment, to be employed in the performance of this Lease, with respect to the employee or applicant's hire, tenure, terms, color, religion, sex, disability or national origin. 3. Rent and Other Payments.. 3.1 Rent Amount. The Lessee shall rent from the Lesssor, approximately 329 tillable acres at $332.00 per acre as described in Section 1, Property Description. 3.2 Payment Schedule and Payment Address. The Lessee agrees to pay Lessor a total annual cash rent of One Hundred Nine Thousand Two Hundred Twenty Eight and No /100ths Dollars ($109,228.00). The annual cash rent shall be paid semi - annually, as follows: First Payment due at time of signing December 1, 2014 April 1, 2015 December 1, 2015 $54,614.00 $54,614.00 $54,614.00 $54,614.00 The total value of this Lease over two (2) years is Two Hundred Eighteen Thousand Four Hundred Fifty Six and No /100ths Dollars ($218,456.00). All payments for the Term of this Lease shall be made payable to: and payments shall be mailed to: AS /State Building Division — VBEL Fund AS /Central Services - Finance 1526 K St, Ste 150 Lincoln, NE 68508 -2732 201403427 3.3 Other - Property Tax Assessment. Pursuant to Nebraska Revised Statute § 77- 202.11, leased public property, other than property leased for a public purpose as set forth in subdivision (1)(a) of section 77 -202, shall be taxed or exempted from taxation as if the property was owned by the leaseholder. This Property is not being used or developed for use for a public purpose and therefore may be subject to property taxation during any then current Term. Lessee shall pay any taxes which become due or which are levied as a result of the current use of this Property. Lessee shall provide to Lessor such proof of payment of said taxation as assessed against the real property and shown on the tax statement provided by the county assessor annually. Taxes on property assessed for this Property shall be due and payable in the same manner as other property taxes and shall be a first lien upon the personal property of the then current Lessee to whom assessed until paid and shall be collected in the same manner as personal property taxes as provided in Nebraska Revised Statutes §§ 77 -1711 to 77 -1724. Lessor shall provide to the appropriate county assessor each new lease or preexisting lease which has been materially changed which went into effect during the previous year and a listing of previously reported leases that are still in effect. Lessor is exempt from property tax and shall under no circumstances become obligated to pay W: \Everyone \Property Program Management \Leases Cash \CL 33 GIVH Panowicz Farm Lease \CL 33 GIVH Cash Farm Lease 2014 -2015 DRAFT 2014- 02- 20.docx Page 3 of 11