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Docusign Envelope ID:ACBA4C68-9190-4113-986D-AC8E317A2E06
<br /> full,by the due date,Landlord may terminate this Farm Lease and collect the unpaid rent,and Tenant shall immediately remit any
<br /> farm program payments received for the lease year to the Agent. In the event Landowner has not received the rent,in full,by the
<br /> due date and Landowner terminates lease,Landowner is not obligated to reimburse Tenant for farming operations or crop
<br /> inputs purchased.
<br /> In addition to the base rent,the Landowner shall be entitled to a cash rent bonus that is 35%of the gross revenues generated on 2026
<br /> corn acres plus 45%of the gross revenues generated on the 2026 soybeans acres,plus 35%of all Farm Program Payments received in
<br /> 2026,Less the initial base cash rent of$40,874.40 The bonus rent shall be paid the latter of November 15th of the current lease year or
<br /> within two weeks of the completion of harvest.
<br /> Gross Farm Income shall be calculated by the Farm Manager and reviewed by the Tenant Operator for the 2026 crop year by
<br /> November 15th of the lease year.The gross farm income shall be derived by the following method.
<br /> Corn Income—The harvested(dry)bushels multiplied by the average closing price for fall delivery,paid by ADM Grain,Niantic,
<br /> Illinois on each Wednesday,from January 1,2026,through October 31,2026.
<br /> Soybean Income—The harvested bushels multiplied by the average closing price for fall delivery,paid by ADM Grain,Niantic,
<br /> Illinois,on each Wednesday,from January 1,2026,through October 31,2026.
<br /> Farm Program Payments—Tenant agrees to provide documentation to support any and all farm program payments received that are
<br /> associated with said property.
<br /> Elevator settlement sheets or yield maps generated at harvest shall be used to verify production.
<br /> C) SOIL FERTILITY: Tenant shall apply and pay for,prior to planting this lease year,fertilizer as outlined on present lease year
<br /> crop map.A paid fertilizer receipt to be provided to Landowner.
<br /> D)LANDOWNER AGREES TO PAY THE FOLLOWING EXPENSES:
<br /> 1. Taxes on premises and improvements owned or held by Landowner.
<br /> 2. Materials the Landowner deems necessary for repairs and improvements on the above-described premises.
<br /> 3. Soil tests and limestone approved by Landowner.
<br /> E) LANDOWNER WILL NOT PAY FOR THE FOLLOWING: The Landowner shall not be obligated to pay for any fertilizer,
<br /> seed, chemicals,machinery,power or labor,except skilled labor required to make repairs or improvements as expressly approved by
<br /> Landowner.
<br /> F)TENANT SHALL HAVE THE FOLLOWING DUTIES IN OPERATING THE PREMISES:
<br /> 1. To cultivate the premises faithfully and in a timely,thorough and businesslike manner.
<br /> 2. To keep premises neat,and to prevent any unnecessary waste,damage,or soil erosion.
<br /> 3. Not to allow noxious weeds to go to seed on said premises,but to destroy same;to cut all weeds,sprouts and brush in fence rows,
<br /> drainage ditches,waterways;and on roads adjoining as often as needed each year without charge to the Landowner for labor.
<br /> 4. To keep open ditches,tile drains,tile outlets,grass waterways,and terraces in good repair. To preserve established watercourses
<br /> or ditches and to refrain from any operation that will injure them.
<br /> 5. Not to bum corn stalks,cobs,straw or other residue grown on the premises,nor to remove any hay,cobs or straw or other residue
<br /> except by agreement and only as permitted by law.
<br /> 6. To clip small grain stubble and to prevent noxious weeds from going to seed.
<br /> 7. Not to permit trampling of rotation fields by livestock and to prevent rooting by hogs.
<br /> 8. To follow such crop rotation, tillage practices, fertilizer programs, herbicide programs, insecticide programs, conservation
<br /> measures, and arrangements as are worked out with the Landowner or his Agent. Landowner is not liable for the cost of over
<br /> application of fertilizer,limestone,herbicide,and/or insecticide.
<br /> 9. To comply with pollution control and environmental protection requirements,and to implement soil erosion control practices.
<br /> 10. To use prudence and care in transporting,storing,handling,and applying all fertilizers,pesticides,herbicides,and other chemicals
<br /> and similar substances.To read and follow instructions on the labels for the use of such materials in order to avoid injury or damages
<br /> to persons or premises or both on the leased premises and adjoining areas. To comply with all applicable federal,state and local
<br /> statutes,regulations,rules and ordinances.
<br /> 11. Not to cut, bulldoze, damage or destroy (or permit any such damage or destruction) of trees without written permission of
<br /> Landowner.
<br /> 12. Not to permit, encourage,or invite other person or persons to use any part or all of the premises for any purpose or activity not
<br /> directly related to its use for agricultural production,including hunting.
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