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w 2011QQ49G ��> J -� � • This lease made and entered inta the 1�` day of March, 2011 by and between, Gayle Binfield of Hastings, Nebraska, "Owner," and Doug Ablott, af lnland, Nebraslca, "Tenant." 1. Description of Property. The Owner hereby leases to the Tenant, to occupy and use for agricultural and related purposes, for the crop years vf 2p 11 thru 2� 14, the following described property located in Clay County, State of Nebraska: Martin 'i'wp. SE 1/4, Z4-9•11, Hal1 Co., NE Martin Twp. SE 1J4, & LTS ].�2-3 MLD,1S-9-11, Hall Co., NE consisting of 305.4 total acres imare or less, tog,ether with all impravements ther�on exc�pt as otherwise specified. A11 af this property is hereinafter called the "farm". The Owner warrants that he has the right to lease the farm, and will defend the Tenant's possession against any and all persons or entities whnmsoever. �. Terms of Lease. The terms of this lease sh�ll be foi� five (4) years, fram the 1" day of March, 2011, until the 29`� day of Pebruary, 2015. This leas� shall continue in effect thereafter unless written notice of termination is given by either party t�n the ather by September 1� of the 2014 contract year. Tenant shall not re-lease, sub-lease or assign this lease, ar any part thereof withput written consent of the Owner. 3: Rental. The Tenant agrees to use the farrn �nd to pay the C7wn�r, his heirs; or assigns, cash rent. Said rent shall be as fallaws $5S,d00.0(1/ycar payuble on or before Januaryl5th, follow�ng the previous'c�rop year (Example) Starting with �Ul l crpp ye�aw, rent will be due on or before January 15"' 2012 Rent�l ba�ed on 275.0 Acr�s Irrigat�d 30.4 Acres Dryland All rent paym�nts due shall be tnailed ta the Owner ar as the t)wner otherwise directs th� Tenant. Delinquent payments may bear int�rest fram due dat� until paid. The failure or delay af the Owner or Ten�nt to exercise any of their respectiv� ri�;hts or privileges under the pravisians af this lease, or any other terms of this agreement, shall nat be held a waiver af any of tha terms, covenants ar conditions of said instrument, nor of any of the respective rights or privile�es of either party under the same. Any act of either the Owner's or Tenant's waiving, or which may be held to be waived, any specific default �f the other party shall not be construed or hald to be a waiver of any futur� default. 4. Operational.Expenses. The Ten�nt sliatl furnish all labar, �quipment, and expenses includin� all seed, fertilix.er, and chernicals, for the operaticir► di the farm, except as ind'rcated below. S. Tenant Agrees That. (1) He will rnaintain the farrn during his tenancy in as good as condition and repair as the beginning or as later improved. Normal wear and depr�ciation from causes beyond his