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The West Half of the Northeast Quarter (WI/2 NE 1 /4) and the East Half of the
<br />Northwest Quarter (E1 /2 NW1 /4), all in Section Thirty -Four (34), Township Twelve
<br />(12) North, Range Twelve (12), West of the 6th P.M., in Hall County, Nebraska,
<br />except a tract of land comprising a part of the West Half of the Northeast Quarter
<br />(W 1/2 NE1 /4) of Section Thirty -Four (34), Township Twelve (12) North, Range
<br />Twelve (12), West of the 6th P.M., Hall County, Nebraska, said tract being more
<br />particularly described as follows: With reference to the Northwest corner of said
<br />West Half of the Northeast Quarter (W1 /2 NE1 /4); thence running on an assumed
<br />bearing of N 90° 00'00" East on the north line of said West Half of the Northeast
<br />Quarter (W1 /2 NE1 /4) for a distance of 583.00 feet to the actual point of beginning,
<br />thence continuing N 90'00'00" East on the north line of said West Half of the
<br />Northeast Quarter (W1 /2 NE1 /4) for 741.16 feet to the Northeast corner thereof,
<br />thence S 00'3 8'l 0 " West on the East line of said West Half of the Northeast Quarter
<br />(WI/2 NE 1 /4) for 1389.97 feet; thence N 90'00'00" West for 150.00 feet; thence N
<br />00 °38'1.0" East for 518.92 feet; thence N 90 °00'00" West for 120.00 feet; thence
<br />North 00 °38'10" East for 423.36 feet; thence N 86 °13'45" West for 350.90 feet;
<br />thence on a 1245.00 foot radius curve to the left for 156.87 feet, the chord to said
<br />curve bearing N 54 °26'41" West for 156.76 feet, thence N 01'58'12" East for
<br />333.64 feet to the point of beginning, said tract containing 11.777 acres more or less,
<br />the Northerly 33.00 thereof being Abbott Road right-of-way, consisting of 1.48.23
<br />acres, more or less.
<br />The term of said Lease is for a period of five (5) years beginning on March 1, 2001,
<br />to February 28, 2006. That the TENANT is granted an additional option to extend the term
<br />of the Lease for one additional five (5) year term upon such terms and conditions as set forth
<br />in the Lease Agreement. That the TENANT is in possession of the above described real
<br />property and is in full compliance of the terms and conditions of the Lease Agreement.
<br />That in addition to the Farm Lease between the parties as hereinbefore stated, the
<br />parties have also entered into an Option to Purchase Real Estate with DONALD D.
<br />STANGE, as GRANTOR, and STANGE, INC., a Nebraska Corporation, GRANTEE, dated
<br />April 24, 2001. That pursuant to said Option to Purchase Real Estate, the said real estate as
<br />described above, GRANTEE, STANGE, INC., is granted an option to purchase the said real
<br />estate as per the terms and conditions of the Option to Purchase Real Estate Agreement.
<br />This option to purchase said real estate runs to the GRANTEE, STANGE, INC., and the
<br />option does not expire unless the Corporation ceases to exist and dissolve through the laws
<br />of the State of Nebraska with said dissolution continuing for a period of ninety (90) days.
<br />That the option remains in full force and effect as of the date of this notice and has not been
<br />exercised.
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<br />NOTICE OF LEASE AND OPTION TO
<br />PURCHASE REAL ESTATE
<br />KNOWN ALL MEN BY THESE PRESENTS, that on the 24`" day of April,
<br />2001, a Lease was entered into by and between DONALD D. STANGE, as "OWNER ",
<br />and STANGE, INC., a Nebraska Corporation, as "TENANT ", as it relates to the
<br />following described real property in Hall County, Nebraska, to -wit:
<br />The West Half of the Northeast Quarter (WI/2 NE 1 /4) and the East Half of the
<br />Northwest Quarter (E1 /2 NW1 /4), all in Section Thirty -Four (34), Township Twelve
<br />(12) North, Range Twelve (12), West of the 6th P.M., in Hall County, Nebraska,
<br />except a tract of land comprising a part of the West Half of the Northeast Quarter
<br />(W 1/2 NE1 /4) of Section Thirty -Four (34), Township Twelve (12) North, Range
<br />Twelve (12), West of the 6th P.M., Hall County, Nebraska, said tract being more
<br />particularly described as follows: With reference to the Northwest corner of said
<br />West Half of the Northeast Quarter (W1 /2 NE1 /4); thence running on an assumed
<br />bearing of N 90° 00'00" East on the north line of said West Half of the Northeast
<br />Quarter (W1 /2 NE1 /4) for a distance of 583.00 feet to the actual point of beginning,
<br />thence continuing N 90'00'00" East on the north line of said West Half of the
<br />Northeast Quarter (W1 /2 NE1 /4) for 741.16 feet to the Northeast corner thereof,
<br />thence S 00'3 8'l 0 " West on the East line of said West Half of the Northeast Quarter
<br />(WI/2 NE 1 /4) for 1389.97 feet; thence N 90'00'00" West for 150.00 feet; thence N
<br />00 °38'1.0" East for 518.92 feet; thence N 90 °00'00" West for 120.00 feet; thence
<br />North 00 °38'10" East for 423.36 feet; thence N 86 °13'45" West for 350.90 feet;
<br />thence on a 1245.00 foot radius curve to the left for 156.87 feet, the chord to said
<br />curve bearing N 54 °26'41" West for 156.76 feet, thence N 01'58'12" East for
<br />333.64 feet to the point of beginning, said tract containing 11.777 acres more or less,
<br />the Northerly 33.00 thereof being Abbott Road right-of-way, consisting of 1.48.23
<br />acres, more or less.
<br />The term of said Lease is for a period of five (5) years beginning on March 1, 2001,
<br />to February 28, 2006. That the TENANT is granted an additional option to extend the term
<br />of the Lease for one additional five (5) year term upon such terms and conditions as set forth
<br />in the Lease Agreement. That the TENANT is in possession of the above described real
<br />property and is in full compliance of the terms and conditions of the Lease Agreement.
<br />That in addition to the Farm Lease between the parties as hereinbefore stated, the
<br />parties have also entered into an Option to Purchase Real Estate with DONALD D.
<br />STANGE, as GRANTOR, and STANGE, INC., a Nebraska Corporation, GRANTEE, dated
<br />April 24, 2001. That pursuant to said Option to Purchase Real Estate, the said real estate as
<br />described above, GRANTEE, STANGE, INC., is granted an option to purchase the said real
<br />estate as per the terms and conditions of the Option to Purchase Real Estate Agreement.
<br />This option to purchase said real estate runs to the GRANTEE, STANGE, INC., and the
<br />option does not expire unless the Corporation ceases to exist and dissolve through the laws
<br />of the State of Nebraska with said dissolution continuing for a period of ninety (90) days.
<br />That the option remains in full force and effect as of the date of this notice and has not been
<br />exercised.
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