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<br />FARM LEASE AGREEMENT
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<br />This Farm Lease Agreement is entered into this �— day of January, 2001
<br />between Jeanne K. Whitefoot, as Trustee of The Jeanne K. Whitefoot Trust created by
<br />the Revocable Living Trust Agreement dated February 7, 1994, hereinafter referred to
<br />as "Owner', and Russell D. Hendrickson and Maura K. Hendrickson, husband and wife, s
<br />jointly and severally, hereinafter referred to as "Tenant ". .�
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<br />1. THE PROPERTY. The property which is the subject of this Agreement is legally
<br />described as follows:
<br />The North Half of the Southeast Quarter (N '/ SE %) in Section Twenty -eight
<br />(28), Township Ten (10) North, Range Twelve (12) West of the 6th P.M. in Hall
<br />County, Nebraska.
<br />2. AGREEMENT TO LEASE. The Owner agrees to lease to Tenant and Tenant
<br />agrees to lease from Owner the property for the term and under the covenants and
<br />considerations hereinafter set forth.
<br />3. TERM. The property is hereby leased by Owner to the Tenant for a term
<br />commencing March 1, 2001 to February 28, 2002.
<br />4. RENT. Tenant agrees to pay as rentals for the term cash rent in the total
<br />amount of Twelve Thousand Two Hundred Fifty Dollars ($12,250.00) due and payable
<br />on January 1, 2002. Payment of the rent shall be by bank draft or cashier's check made
<br />payable to: Jeanne K. Whitefoot, as Trustee of the Jeanne K. Whitefoot Revocable
<br />Trust. Any unpaid balance of rental from and after the due date shall draw interest at
<br />the rate of 16% per month.
<br />5. OPERATIONAL EXPENSES. The Tenant shall furnish and provide all of their
<br />own irrigation pipe and equipment. The Tenant shall assume all daily maintenance of
<br />irrigation equipment. The Tenant shall supply all the equipment for planting and
<br />harvesting of the crops. The Tenant shall furnish all labor and expenses for the
<br />operation of the farm. The Tenant shall be responsible for the costs for the purchase
<br />and application of all fertilizer, insecticides and herbicides. Major repairs to the
<br />irrigation well, pump and motor not caused by the neglect of the Tenant shall be paid
<br />by the Owner. The Tenant shall furnish the labor necessary to keep the fences,
<br />domestic and stock wells in good repair and condition. The Tenant shall pay for all
<br />costs of power for operation of the irrigation equipment. The Tenant shall be
<br />responsible for the maintenance and repair of the reuse pit pump.
<br />The parties acknowledge that there are three (3) grain bins on the property. The
<br />Tenant has the option to use these bins if he notifies the Owner no later than
<br />September 1, 2001. If the Tenant chooses to use the bins, he will compensate Owner in
<br />the amount of One Thousand Two Hundred Fifty Dollars ($1,250.00). This amount will
<br />be paid by Tenant to Owner in advance of September 1, 2001, and in advance of the
<br />Tenant's use of the bins. Tenant shall be solely responsible for all maintenance,
<br />utilities, upkeep, and all other expenses during his use of the bins. Tenant agrees that
<br />any grain in the bins will be removed no later than the expiration of the term of this
<br />Lease, or by any other date as may be mutually agreed to by the parties.
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<br />This Farm Lease Agreement is entered into this �— day of January, 2001
<br />between Jeanne K. Whitefoot, as Trustee of The Jeanne K. Whitefoot Trust created by
<br />the Revocable Living Trust Agreement dated February 7, 1994, hereinafter referred to
<br />as "Owner', and Russell D. Hendrickson and Maura K. Hendrickson, husband and wife, s
<br />jointly and severally, hereinafter referred to as "Tenant ". .�
<br />d
<br />1. THE PROPERTY. The property which is the subject of this Agreement is legally
<br />described as follows:
<br />The North Half of the Southeast Quarter (N '/ SE %) in Section Twenty -eight
<br />(28), Township Ten (10) North, Range Twelve (12) West of the 6th P.M. in Hall
<br />County, Nebraska.
<br />2. AGREEMENT TO LEASE. The Owner agrees to lease to Tenant and Tenant
<br />agrees to lease from Owner the property for the term and under the covenants and
<br />considerations hereinafter set forth.
<br />3. TERM. The property is hereby leased by Owner to the Tenant for a term
<br />commencing March 1, 2001 to February 28, 2002.
<br />4. RENT. Tenant agrees to pay as rentals for the term cash rent in the total
<br />amount of Twelve Thousand Two Hundred Fifty Dollars ($12,250.00) due and payable
<br />on January 1, 2002. Payment of the rent shall be by bank draft or cashier's check made
<br />payable to: Jeanne K. Whitefoot, as Trustee of the Jeanne K. Whitefoot Revocable
<br />Trust. Any unpaid balance of rental from and after the due date shall draw interest at
<br />the rate of 16% per month.
<br />5. OPERATIONAL EXPENSES. The Tenant shall furnish and provide all of their
<br />own irrigation pipe and equipment. The Tenant shall assume all daily maintenance of
<br />irrigation equipment. The Tenant shall supply all the equipment for planting and
<br />harvesting of the crops. The Tenant shall furnish all labor and expenses for the
<br />operation of the farm. The Tenant shall be responsible for the costs for the purchase
<br />and application of all fertilizer, insecticides and herbicides. Major repairs to the
<br />irrigation well, pump and motor not caused by the neglect of the Tenant shall be paid
<br />by the Owner. The Tenant shall furnish the labor necessary to keep the fences,
<br />domestic and stock wells in good repair and condition. The Tenant shall pay for all
<br />costs of power for operation of the irrigation equipment. The Tenant shall be
<br />responsible for the maintenance and repair of the reuse pit pump.
<br />The parties acknowledge that there are three (3) grain bins on the property. The
<br />Tenant has the option to use these bins if he notifies the Owner no later than
<br />September 1, 2001. If the Tenant chooses to use the bins, he will compensate Owner in
<br />the amount of One Thousand Two Hundred Fifty Dollars ($1,250.00). This amount will
<br />be paid by Tenant to Owner in advance of September 1, 2001, and in advance of the
<br />Tenant's use of the bins. Tenant shall be solely responsible for all maintenance,
<br />utilities, upkeep, and all other expenses during his use of the bins. Tenant agrees that
<br />any grain in the bins will be removed no later than the expiration of the term of this
<br />Lease, or by any other date as may be mutually agreed to by the parties.
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