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<br />FARM LEASE AGREEMENT
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<br />This Farm Lease Agreement is entered into this �&__ay of 2004,
<br />between Jeanne K. Whitefoot, as Trustee of The Jeanne K. Whitefoot Trust cr ted by
<br />the Revocable Living Trust Agreement dated February 7, 1994, hereinafter re erred to
<br />as "Owner', and Phillip Dibbern and Mark Dibbern, jointly and severally, hereinafter
<br />referred to as "Tenant ".
<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 Y2 SE '/) in Section Twenty -eight
<br />(28), Township Ten (10) North, Range Twelve (12) West of the 6"' 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, 2004 to February 28, 2005.
<br />4. RENT. Tenant agrees to pay as rentals for the term cash rent in the total
<br />amount of Twelve Thousand Three Hundred Ninety Dollars ($12,390.00) due and
<br />payable on January 1, 2005. Payment of the rent shall be by bank draft or cashier's
<br />check made payable to: Jeanne K. Whitefoot, as Trustee of the Jeanne K. Whitefoot
<br />Revocable Trust. Any unpaid balance of rental from and after the due date shall draw
<br />interest at 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 wells, pumps and motors not caused by the neglect of the Tenant shall be
<br />paid 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. Should any of the irrigation
<br />wells, pumps, motors, pipe, or any other equipment be damaged as a result of the
<br />negligence of the Tenant, Tenant shall be responsible for all costs and expenses for the
<br />repair and /or replacement of said property.
<br />6. GOOD HUSBANDRY. The Tenant will operate the property in an efficient and
<br />husband -like way, and will do the plowing, seeding, cultivating, and harvesting in a
<br />manner that will conserve the Owner's property. Tenant shall be entitled to remove the
<br />stocks by mechanical means but shall not be permitted to pasture livestock for
<br />consumption of stocks in the field. Tenant shall not be permitted to pasture livestock on
<br />the property. Tenant shall pay all costs for seed and other costs including, but not
<br />limited to, ground preparation and planting of the crops.
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<br />FARM LEASE AGREEMENT
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<br />This Farm Lease Agreement is entered into this �&__ay of 2004,
<br />between Jeanne K. Whitefoot, as Trustee of The Jeanne K. Whitefoot Trust cr ted by
<br />the Revocable Living Trust Agreement dated February 7, 1994, hereinafter re erred to
<br />as "Owner', and Phillip Dibbern and Mark Dibbern, jointly and severally, hereinafter
<br />referred to as "Tenant ".
<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 Y2 SE '/) in Section Twenty -eight
<br />(28), Township Ten (10) North, Range Twelve (12) West of the 6"' 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, 2004 to February 28, 2005.
<br />4. RENT. Tenant agrees to pay as rentals for the term cash rent in the total
<br />amount of Twelve Thousand Three Hundred Ninety Dollars ($12,390.00) due and
<br />payable on January 1, 2005. Payment of the rent shall be by bank draft or cashier's
<br />check made payable to: Jeanne K. Whitefoot, as Trustee of the Jeanne K. Whitefoot
<br />Revocable Trust. Any unpaid balance of rental from and after the due date shall draw
<br />interest at 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 wells, pumps and motors not caused by the neglect of the Tenant shall be
<br />paid 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. Should any of the irrigation
<br />wells, pumps, motors, pipe, or any other equipment be damaged as a result of the
<br />negligence of the Tenant, Tenant shall be responsible for all costs and expenses for the
<br />repair and /or replacement of said property.
<br />6. GOOD HUSBANDRY. The Tenant will operate the property in an efficient and
<br />husband -like way, and will do the plowing, seeding, cultivating, and harvesting in a
<br />manner that will conserve the Owner's property. Tenant shall be entitled to remove the
<br />stocks by mechanical means but shall not be permitted to pasture livestock for
<br />consumption of stocks in the field. Tenant shall not be permitted to pasture livestock on
<br />the property. Tenant shall pay all costs for seed and other costs including, but not
<br />limited to, ground preparation and planting of the crops.
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