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This Farm Lease Agreement is entered into this � day of 2004
<br />between Dale A. Whitefoot, as Trustee of The Dale A. Whitefoot Trust created by the o
<br />Revocable Living Trust Agreement dated February 7, 1994, hereinafter referred to as `sa
<br />"Owner", and Marshall Poehler, hereinafter referred to as "Tenant ".
<br />1. THE PROPERTY. The property which is the subject of this Agreement is legally
<br />described as follows:
<br />North Half of the Northwest Quarter (N '/2 NW 1/) of Section Twenty -eight (28),
<br />Township Ten (10) North, Range Twelve (12) West of the 6th p.m. in Hall County,
<br />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 Thirteen Thousand Four Hundred Fifty Dollars ($13,450.00) due and payable
<br />on January 1, 2005. Payment of the rent shall be by bank draft or cashier's check made
<br />payable to: Dale A. Whitefoot, as Trustee of the Dale A. Whitefoot Revocable Trust.
<br />Any unpaid balance of rental from and after the due date shall draw interest at the rate
<br />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.
<br />7. COLLATERAL AGREEMENTS. The Tenant shall have no authority to make
<br />any type of agreements concerning the use and /or access of and to the property. Only
<br />the Owner shall have the right and power to make other or collateral agreements
<br />concerning the use of the property in any manner whatsoever. This would include, but
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<br />FARM LEASE AGREEMENT
<br />This Farm Lease Agreement is entered into this � day of 2004
<br />between Dale A. Whitefoot, as Trustee of The Dale A. Whitefoot Trust created by the o
<br />Revocable Living Trust Agreement dated February 7, 1994, hereinafter referred to as `sa
<br />"Owner", and Marshall Poehler, hereinafter referred to as "Tenant ".
<br />1. THE PROPERTY. The property which is the subject of this Agreement is legally
<br />described as follows:
<br />North Half of the Northwest Quarter (N '/2 NW 1/) of Section Twenty -eight (28),
<br />Township Ten (10) North, Range Twelve (12) West of the 6th p.m. in Hall County,
<br />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 Thirteen Thousand Four Hundred Fifty Dollars ($13,450.00) due and payable
<br />on January 1, 2005. Payment of the rent shall be by bank draft or cashier's check made
<br />payable to: Dale A. Whitefoot, as Trustee of the Dale A. Whitefoot Revocable Trust.
<br />Any unpaid balance of rental from and after the due date shall draw interest at the rate
<br />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.
<br />7. COLLATERAL AGREEMENTS. The Tenant shall have no authority to make
<br />any type of agreements concerning the use and /or access of and to the property. Only
<br />the Owner shall have the right and power to make other or collateral agreements
<br />concerning the use of the property in any manner whatsoever. This would include, but
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