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r 83- 005~187 5. In the event of major equipment damage due to electrical storm or wind, the second party shall immediately notify first party so that insurance company is notified and equipment can then be repaired or replaced so as to be put back in proper operating condition. First party is not responsible for any expense unless previously authorized. ~ I-- ~ ~ i 6. The first party or his agents shall have the right to go upon the premises at any time to inspect the same and so as to assure that terms and conditions of this lease are being followed. SEVERANCE AGREEMENT @ ~ <D[) <D(f). ~ ~ ~ ~ Second party shall have the right to remove Tenant's ~ Property from the real estate at any time prior to the ,I expiration of this lease and any extensions hereof and none ~~. of Tenant's Property shall be deemed to be or become a part ~~ of the real estate even though Tenant's Property may be C:x attached to the real estate. First party hereby acknowledges that second party is the owner of the following property which is hereinafter referred to as Tenant's Property. (1) The pivot irrigation system. (2) One 6000 bushel Stor-Mor grain bin. (3) One 1000 bushel Stor-Mor grain bin. (4) All fence line feed bunks. (5) All panels and steel gates, except that first party owns the corral fences and four steel gates. CO-OWNED BINS First party hereby acknowledges that second party is the owner of an undivided sixty percent (60%) interest in the following described grain bins which are located upon the real estate: (1) One Chief 5000 bushel drying bin. (2) Two 6000 bushel Stor-Mor grain bins. (3) Two 9000 bushel Stor-Mor grain bins. First party hereby promises that upon the termination of this lease and any extensions hereof first party shall purchase from second party his sixty percent (60%) interest in those five (5) grain bins for cash in the amount of sixty percent (60%) of the then fair value of those bins. In the event that first party and second party do not agree upon the price, the price shall be determined by two (2) licensed real estate appraisers, one to be selected by each party. POSSESSION - RENEWAL 1. Second party covenants with the first party that at the expiration of the term of this lease it will yield up the possession to the first party, without further demand or notice, in as good order and condition as when the same was entered upon by the second party, loss by first or inevitable accidents or ordinary wear excepted. 2. The second party agrees that the first party shall not be liabll;l in damages for its failure to deliver possession -2-