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This Farm Lease Agreement is entered into this 13— day of , 2004 between
<br />Jeanne K. Whitefoot, as Trustee of The Jeanne K. Whitefoot Trus created by the
<br />Revocable Living Trust Agreement dated February 7, 1994, herein er referred to as
<br />"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 Southwest Quarter (SW' /) of Section Thirty -one (31), Township Eleven (11)
<br />North, Range Eleven (11) West of the 6th p.m. in Hall County, Nebraska,
<br />excepting therefrom that part thereof conveyed to the County of Hall, State of
<br />Nebraska, by Deed recorded in Book 79 at Page 610 of the deed records of 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 Twenty -Six Thousand Four Hundred Seventy -Seven Dollars and Fifty Cents
<br />($26,477.50) due and payable on January 1, 2005. Payment of the rent shall be by
<br />bank draft or cashier's check made payable to: Jeanne K. Whitefoot, as Trustee of the
<br />Jeanne K. Whitefoot Revocable Trust. Any unpaid balance of rental from and after the
<br />due date shall draw 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 assume and be responsible for all repair and
<br />maintenance of the pivot irrigation system at his sole cost. The Tenant shall supply all
<br />the equipment for planting and harvesting of the crops. The Tenant shall furnish all
<br />labor and expenses for the operation of the farm. The Tenant shall be responsible for
<br />the costs for the purchase and application of all fertilizer, insecticides and herbicides.
<br />Major repairs to the irrigation wells, pumps and motors not caused by the neglect of the
<br />Tenant shall be paid by the Owner. The Tenant shall furnish the labor necessary to
<br />keep the fences, domestic and stock wells in good repair and condition. The Tenant
<br />shall pay for all costs of power for operation of the irrigation equipment.
<br />The parties acknowledge that there is one (1) grain bin on the property. The Tenant has
<br />the option to use this bin if he notifies the Owner no later than September 1, 2004. If the
<br />Tenant chooses to use the bin, he will compensate Owner in the amount of Six
<br />Hundred Dollars ($600.00). This amount will be paid by Tenant to Owner in advance of
<br />September 1, 2004, and in advance of the Tenant's use of the bin. Tenant shall be
<br />solely responsible for all maintenance, utilities, upkeep, and all other expenses during
<br />his use of the bin. Tenant agrees that any grain in the bin will be removed no later than
<br />the expiration of the term of this Lease, or by any other date as may be mutually agreed
<br />to by the parties.
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<br />FARM LEASE AGREEMENT
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<br />This Farm Lease Agreement is entered into this 13— day of , 2004 between
<br />Jeanne K. Whitefoot, as Trustee of The Jeanne K. Whitefoot Trus created by the
<br />Revocable Living Trust Agreement dated February 7, 1994, herein er referred to as
<br />"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 Southwest Quarter (SW' /) of Section Thirty -one (31), Township Eleven (11)
<br />North, Range Eleven (11) West of the 6th p.m. in Hall County, Nebraska,
<br />excepting therefrom that part thereof conveyed to the County of Hall, State of
<br />Nebraska, by Deed recorded in Book 79 at Page 610 of the deed records of 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 Twenty -Six Thousand Four Hundred Seventy -Seven Dollars and Fifty Cents
<br />($26,477.50) due and payable on January 1, 2005. Payment of the rent shall be by
<br />bank draft or cashier's check made payable to: Jeanne K. Whitefoot, as Trustee of the
<br />Jeanne K. Whitefoot Revocable Trust. Any unpaid balance of rental from and after the
<br />due date shall draw 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 assume and be responsible for all repair and
<br />maintenance of the pivot irrigation system at his sole cost. The Tenant shall supply all
<br />the equipment for planting and harvesting of the crops. The Tenant shall furnish all
<br />labor and expenses for the operation of the farm. The Tenant shall be responsible for
<br />the costs for the purchase and application of all fertilizer, insecticides and herbicides.
<br />Major repairs to the irrigation wells, pumps and motors not caused by the neglect of the
<br />Tenant shall be paid by the Owner. The Tenant shall furnish the labor necessary to
<br />keep the fences, domestic and stock wells in good repair and condition. The Tenant
<br />shall pay for all costs of power for operation of the irrigation equipment.
<br />The parties acknowledge that there is one (1) grain bin on the property. The Tenant has
<br />the option to use this bin if he notifies the Owner no later than September 1, 2004. If the
<br />Tenant chooses to use the bin, he will compensate Owner in the amount of Six
<br />Hundred Dollars ($600.00). This amount will be paid by Tenant to Owner in advance of
<br />September 1, 2004, and in advance of the Tenant's use of the bin. Tenant shall be
<br />solely responsible for all maintenance, utilities, upkeep, and all other expenses during
<br />his use of the bin. Tenant agrees that any grain in the bin will be removed no later than
<br />the expiration of the term of this Lease, or by any other date as may be mutually agreed
<br />to by the parties.
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