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FARM LEASE AND OPTION TO PURCHASE <br />This Agreement is made this -, L day <br />t _ <br />198; between John Harrington, a single person ((;ere, after <br />"Lessor ") and Keltgen Seed Company, a Minnesota corporation <br />(hereinafter "Lessee"). <br />1. Premises. Lessor agrees to lease to Lessee the <br />following described real estate: <br />The East Half of the Southwest Quarter of <br />Section 27, Township 11, Range 10, Hall <br />County, Nebraska. <br />2. Term. This Lease shall commence on the 1st day of <br />March, 1985, and shall end on the last day of February, 1990, <br />unless sooner terminated as hereinafter provided. <br />3. Rent. Lessee agrees to pay to Lessor as rent for <br />the leased premises, the sum of $80,883.00 payable in five (5) <br />installments as follows: <br />$16,176.60 on or before March 1, 1985; <br />$16,176.60 on or before March 1, 1986; <br />$16,176,60 on or before March 1, 1987; <br />$16,176.60 on or before March 1, 1988; and <br />$16,176.60 on or before March 1, 1989. <br />4. Grade Problem. Lessor agrees to do such grading <br />and dirt work east and west of the water pump located on the <br />leased premises for the purpose of correcting certain irrigating <br />problems as soon as weather and land conditions permit such work <br />to be done and in no event later than the beginning of the 1985 <br />crop season. <br />