OFFICE OF STATE LANDS AND INVESTMENTS STATE LOAN AND INVESTMENT BOARD 122 WEST 25TH STREET CHEYENNE, WYOMING 82002

OFFICE OF STATE LANDS AND INVESTMENTS STATE LOAN AND INVESTMENT BOARD 122 WEST 25TH STREET CHEYENNE, WYOMING 82002 REGULAR FARM LOAN / BEGINNING AGRICULTURAL PRODUCERS / SMALL WATER DEVELOPMENT PROJECT / ENHANCE OR RESTORE LIVESTOCK NUMBERS LOAN APPLICATION PACKET The original Farm Loan Act was passed by the Wyoming Legislature in its session of 1921, becoming effective on February 22nd of that year. The purpose of the law is to foster and encourage farming and ranching in the State of Wyoming, to develop and improve agricultural lands and to create and establish a system of rural credits to be controlled and managed by the State Loan and Investment Board. The Board consists of the Governor, Secretary of State, State Treasurer, State Auditor, and State Superintendent of Public Instruction. The Director of the Office of State Lands and Investments serves as secretary to the Board. The State Treasurer, with the approval of the State Loan and Investment Board, is directed by the Legislature to invest and keep invested in farm and ranch loans, a sum not exceeding $275 million in permanent funds. This program is governed pursuant to Wyoming Statutes 11-34-101 through 11-34-130, and the rules and regulations adopted by the State Loan and Investment Board. General Policy - The Board shall extend farm loans to foster and encourage agriculture, dairying, and livestock raising in the State of Wyoming, and the development and improvement of farm lands. Farm Loans shall be made in a manner to parties which, in the judgment of the Board, will derive the greatest benefit to the state and represent a wise investment of state funds. Eligible s - Individuals must be U.S. citizens, 18 years of age or older, and their primary residence must be in Wyoming. Legal entities must demonstrate that a majority is owned by individuals who meet the qualifications. Single loans or combination of loans made to an individual, or entity, shall not exceed an outstanding principal balance of $800,000.00. A single agricultural enterprise shall not exceed the $800,000.00 maximum loan balance regardless of the identity of the applicants. Eligible Purposes - Loans may be made for agricultural purposes including purchasing land, livestock, or equipment designated to maintain or increase the earning capacity of the operation; purchasing, constructing, or installing improvements necessary to maintain or improve the earning capacity of the operation; and refinance debts incurred by the applicant in the furtherance of the agricultural operation. The borrower must have a mature obligation at closing so interim financing may be necessary. Application Procedure - Prospective borrowers must submit a written loan application, on the form furnished by the Office. Incomplete applications will not be submitted to the Board for consideration. False or misleading statements made by the applicant in an application can be grounds for rejection of the application. A $100.00 deposit must accompany the application and will be returned if the application is withdrawn prior to a field appraisal being made. Application Consideration - The Board s staff will conduct a preliminary review of all applications received. If the staff identifies problems with the application, the applicant will be notified of the problem and given an opportunity to withdraw the application. The Board takes the following into account when considering applications: the applicant s net worth, the applicant s ability to repay the loan based on viable, continuous income from any source, and the applicant s credit history. Loan Terms - The interest rate charged shall reflect the risk taken by the Board. Rates shall be: 8% per annum for loans up to 50% of the appraised value of the security land and improvements, 9% per annum for loans over 50% up to 60% of the appraised value of security land and improvements. The term of the loan shall not exceed 30 years. Payment of the loan will be made in equal annual installments, due December 1 of each year. The following chart will help determine an approximate annual payment. Interest Rate Number of Years 5 10 15 20 25 30 ======================================================== 8% $250.46 $149.03 $116.83 $101.85 $ 93.68 $ 88.83 9% $257.10 $155.83 $124.06 $109.55 $101.81 $ 97.34

To figure your annual payment, multiply the factor in the chart by the number of $1,000.00 loan desired. Example: $150,000.00 Loan, 8% Interest, 30 years $88.83 x 150 = $13,324.50 Annual payment including interest Security - All Farm Loans and Beginning Agricultural Producer Loans will be secured by a first mortgage on farm or ranch land of sufficient value to secure the loan. Only land lying within the boundaries of the State of Wyoming can be considered as security. Proof of merchantable title must be provided by the borrower in the form of title insurance naming the Board as the insured. The security will be appraised by a qualified Board appraiser. The appraisals will reflect the current agricultural market value of the land to be mortgaged and contributory value of the improvements. The Board will take a UCC security agreement on all irrigation equipment located and used on the security lands. Whenever necessary to protect the value of the security lands as an agricultural operation, a security interest in secure leaseholds, reservoir or ditch company stock, water contracts, and grazing association stock will be taken. Disbursement - The proceeds of a farm loan shall not be disbursed to the borrower until such time as the borrower can show a mature obligation, the satisfaction of which will result from the application of the loans proceeds. The borrower shall use the proceeds of a farm loan exclusively for the purpose or purposes set out in the application, and shall furnish evidence satisfactory to the Board to that effect. Loan proceeds shall be disbursed at a closing when all loan documents shall be executed by the borrower. Documents executed on behalf of corporations or other legal entities shall be executed by persons authorized by the corporation or entity to borrow money and mortgage property owned by the entity. Personal liability is required on all loans. Loans are closed through a title insurance company. A loan fee of 1% of the loan amount is withheld by the Board at the time the funds are disbursed. BEGINNING AGRICULTURAL PRODUCER LOANS - "Beginning Agricultural Producer" means an individual or entity that has never owned and operated more than160 acres of cultivated irrigated land, or 320 acres of cultivated dry crop land, or 640 acres of grazing land unless such land was acquired within the last two (2) years; has adequate working capital; substantially participates in the operation; and meets all eligibility requirements provided for in Chapter 7 - Farm Loans. The Beginning Agricultural Producer loan program is intended to help beginning farmers or ranchers get into a production agriculture business. It is not intended to benefit investors or developers. For Beginning Agricultural Producer loans, for the first ten (10) years of the loan the interest rate shall be the lower of 8% or the average yield on a ten (10) year U.S. Treasury Bond for the previous year, rounded to two (2) decimals, as of the date of loan closing. At the end of ten (10) years the interest rate shall be 8%. Loans to beginning agricultural producers shall not exceed 70% of value. SMALL WATER DEVELOPMENT PROJECT LOANS - The State Loan and Investment Board under Wyoming Statutes 11-34-302, is authorized to finance projects for development and use of water upon agricultural lands for agricultural purposes. Loan proceeds may not be used to refinance debt or operating loans. Individual loans may be made for sums not to exceed $150,000.00 at 6% interest. The Board shall require such security as is deemed advisable and may include first and/or second mortgages on agricultural real estate, the pledge and assignment of designated special property assessments within a district, and/or first lien on irrigation equipment and fixtures. The Board may make loans to court approved water districts, to agencies of State and local government, persons, corporations, associations, and other legal entities in this State, to finance the construction of water development projects. Water development projects may include projects to convert dry land into irrigated land as well as projects which will lead to more efficient use of water and/or increased crop or forage production. LOANS TO ENHANCE OR RESTORE LIVESTOCK NUMBERS The Board may make loans for the purpose of enhancing or restoring livestock numbers in the state. Said loans may be secured by a first or second real estate mortgage but the aggregate of all loans may not exceed 70% of appraised value. The interest rate is to be 75% of the lowest farm loan rate i.e. 75% of 8% is 6%. Loan term may not exceed seven (7) years.

STATE LOAN & INVESTMENT BOARD LOAN NO. APPLICATION FOR LOAN 's Full Name Spouse/Co- P.O. Box or Street Address S.S.N. or E.I.D. S.S.N. or E.I.D. FOR OFFICE USE ONLY Received: Paid: City State ZIP Code Phone No. Cell Phone No. E-mail address FILING FEE: $100.00 I hereby make application through the Office of State Lands & Investments, Cheyenne, Wyoming, for a: Farm Loan $ ; or Beginning Agricultural Producers Loan $ ; or Small Water Development Project Loan $ ; or to Enhance or Restore Livestock Numbers $. I understand that loans are approved based on a percentage of the appraised valuation of the land including contributory value of improvements and other factors. Interest rates will be set by the State Loan & Investment Board. Principal and interest will be paid on an amortized plan prescribed by the Board. As security for this loan, I offer a first mortgage on the following described real estate: A. DESCRIPTION OF PROPERTY TO BE MORTGAGED: Legal Description Section Township Range Acres ATTACH ADDITIONAL PAGES IF NECESSARY 1. This land is miles and miles (direction) from and is located in the county/counties of TOTAL ACRES: (direction) B. STATUS OF APPLICANT 1. If the applicant has an existing loan with the State Loan & Investment Board or has an interest in a legal entity which has an existing loan with the State Loan & Investment Board, please provide the following: Loan No. Name Loan Balance Loan No. Name Loan Balance (1) $ (3) $ (2) $ (4) $ 2. If applicant is a partnership, give names and addresses of partners and percent of ownership: 3. If applicant is a corporation, give names and addresses of all officers/directors/shareholders and show percent of ownership. President: ( %) Treasurer: ( %) Vice President: ( %) Secretary: ( %) (If additional room is needed, attach list of other stockholders and % ownership) C. PURPOSE OF LOAN: To which of the following purposes do you agree to apply the proceeds of this loan? PURPOSES DESCRIBE FULLY AMOUNT (1) To purchase acres of land. Total purchase price $. Will this land be included in mortgage? (Provide copy of purchase agreement or contract) $ (2) To construct or maintain buildings and other improvements. (Give description, size, material, cost, etc.) (3) To purchase equipment, livestock, etc. (Describe and give amount for each purpose). (4) To refinance debt incurred for any of the above purposes or for other agricultural purposes. (Describe) (5) Loan Fee (1% of Loan Amount) & misc. TOTAL (The total of the above must equal the amount of the loan applied for) $

ALL QUESTIONS MUST BE ANSWERED D. GENERAL INFORMATION. (If a partnership or corporation, give information for managing partner(s) or corporation president) 1. Are you a citizen of the United States? A Wyoming resident/qualified elector? Single Married Separated Divorced 2. Are applicants of legal age? 's number of dependents. 3. Give name, address, and agent=s telephone number for Insurance Company by which buildings and other improvements are insured and date policy expires: 4. I carry life insurance with Face Amount $ 5. Have you ever filed bankruptcy? If so, Chapter Where filed? Are you currently in bankruptcy? 6. Have you ever been involved in a debt settlement? If yes, describe 7. Name and address of bank(s) and/or other creditors with which you do business: 8. Occupation or business from which the majority of your income is derived:. Former occupation, if any: 9. If employed, name and address of employer(s)? 10 Do you reside on the land offered as security? If not, state actual place of residence Miles from security? How long have you resided there? How long have you farmed or ranched? 11. Do you operate this land personally? Do you use hired labor? Do you lease to tenants? 12. Have you listed for sale the lands offered as security? 13. Do you lease any State land? Give lease number(s) Do you lease any U.S. Government land? Describe: Do you lease any private land? Describe: E. ESTIMATED PRODUCTION AND SALES (INCOME) AND EXPENSES: PLANNED ANNUAL OPERATING EXPENSES CROPS, PASTURE, ETC. ACRES OR NUMBER YIEL D UNIT PRICE IF SOLD OR "FEED" TOTAL Car/Truck Expense $ 1. $ $ Custom Hire 2. Feed 3. Fertilizer & Chemical 4. Freight & Trucking 5. Gas, Fuel & Oil 6. Insurance 7. Labor Hired 8. Rent or Lease 9. Repairs & Maintenance 10. Seed LIVESTOCK Supplies 1. Property/Water Taxes 2. Utilities 3. Veterinary Expense 4. Other Operating Expense 5. Living Expenses 6. Income Tax & Soc. Sec. OTHER INCOME (Oil & Gas Lease/Royalty, Rent, Off-Farm Income, etc.) Livestock/Machine Purchase 1. Interest on Operating Exp. 2. Payments-SL&IB & Others 3. 1. 4. 2. 5. 3. TOTAL INCOME $ TOTAL EXPENSES $

F. FINANCIAL STATEMENT FOR AS OF () ASSETS LIABILITIES CURRENT ASSETS CURRENT LIABILITIES Cash on Hand or Checking Acct. $ To Whom Rate Balance Savings or C.D.'s $ % $ Stocks, Bonds, Etc. $ % $ Cash Value of Life Insurance $ % $ Accounts Receivable $ % $ Crop Inventory For Sale $ Accrued Interest $ $ Taxes Due or Past Due $ $ Assessments Due $ $ Total Current Liabilities $ Total Current Assets $ INTERMEDIATE LIABILITIES INTERMEDIATE ASSETS To Whom Rate Payment Balance Market Value of Equipment (Attach Inventory & Values) $ Market Value of Vehicles (Attach Inventory & Values) $ Household Goods $ LIVESTOCK & FEED INVENTORY Number Unit Price Total Cows $ Calves Bulls Yearlings Ewes Bucks Lambs Hogs Hay Total Intermediate Liabilities $ Concentrate Total Livestock & Feed $ LONG TERM LIABILITIES Total Intermediate Assets $ To Whom Rate Payment Balance LONG TERM ASSETS VALUATION OF LAND OFFERED AS SECURITY The acreage classified must agree with total acreage offered as security for this loan Number of Acres % $ $ Classification Value per Acre Total Cultivated- $ $ Irr. % Cultivated- $ $ Dry % Hayland-Irr. Hayland-Dry Native $ $ Hayland % Pasture-Irr. Pasture-Dry Timber State Lease BLM Lease Total Long Term Liabilities $ Total $ $ Total Acres Value TOTAL LIABILITIES NET WORTH $ OTHER REAL ESTATE OWNED: $ $ $ Other Long Term Assets $ Total Long Term Assets $ Total Assets $ Are you contingently liable for any debt other than your own? If so describe: Are there any judgments or suits pending against you? If so, describe: G. I acquired, or expect to acquire, my real estate in the following manner: (Note land offered as security with an "X")

Security for Loan (X) Acquired Acres Was property homesteaded, purchased or inherited? From whom was Total Which was settled for as follows: land purchased or Purchase Trade inherited? Price Cash Mortgage or Payment Contract Valued at Consisting of $ $ $ $ H. COMPLETE THIS PLAT SHOWING YOUR DEEDED & LEASED LANDS & LOCATION OF IMPROVEMENTS (Attach Additional Plat If More Space Is Required) I. VALUATION OF PERMANENT IMPROVEMENTS ON J. ADDITIONAL INFORMATION PROPOSED SECURITY Type of Buildings, Kind of Amount etc. Construction Present Value Insured For Please make sure that you have provided the following: Main Dwelling $ $ 1. $100.00 filing fee Other Dwellings 2. Social Security or Employer I.D. Number Barn 3. Accurate legal description of proposed security Shop/Shed 4. Evidence of ownership/ purchase agreement on land Other Outbuildings offered as security Corrals 5. Historical income and expense information Windmills-Wells 6. Complete information on water rights on proposed security Total $ $ 7. Signature on the Application The buildings are located on the following land: Section Township Range IMPORTANT - APPLICANT(S) READ CAREFULLY BEFORE SIGNING I UNDERSTAND THAT, UNDER WYOMING STATUTE 16-4-202 (PUBLIC RECORDS ACT), ALL INFORMATION IN MY FILE AND ABOUT MY LOAN WILL BE AVAILABLE FOR PUBLIC REVIEW. I,, a duly qualified applicant under the Wyoming Farm Loan Act, submit this application and hereby represent that the statements contained herein are true and correct and that I have not suppressed, misrepresented or withheld any information required for consideration of this application by the State Loan & Investment Board or its Agents. I also represent that the proceeds of this loan will be used for no other purpose than those indicated in this application. The State Loan & Investment Board, or its Agents, is hereby given permission to inspect aerial photography and soil information regarding this property. I consent to the State Loan & Investment Board conducting such investigations as it deems necessary for proper consideration of this application. If my application is approved by the Board, I understand that 1% of the loan amount will be withheld when the loan is disbursed. I agree to furnish a policy of title insurance, showing the fee title to the land offered for security perfect in me, and that the mortgage to be given the Board will be a first lien. d this day of,. or President of Corporation Co- or Secretary of Corporation Rev. 01/08

Rev. 1/03 FARM / RANCH INFORMATION REQUEST STATE OF WYOMING STATE LOAN & INVESTMENT BOARD APPLICANT DATE In order to provide better service to you, please provide the following information, if applicable, in connection with your loan application: I. Financial Statements (Balance Sheet) A. If the applicant is an individual(s), please provide a current financial statement for any legal entity (corporation, partnership, trust, etc.) in which the applicant has ownership. B. If the applicant is a legal entity, please provide current financial statements for each individual stockholder, partner, or member. II. III. IV. Please have Income Tax Returns available for review if necessary. If applicant is a corporation, please provide the following: A. Certificate of Good Standing B. Director=s Resolution authorizing borrowing from the State Loan & Investment Board. C. Articles of Incorporation If the applicant is a partnership, please provide the following: A. Articles of Partnership or Partnership Agreement B. Partners Agreement to borrow from the State Loan & Investment Board V. If the applicant is a Trust, please provide the following: A. Trust Agreement and all supporting documents B. Documents authorizing borrowing and execution of legal documents VI. VII. VIII. IX. If the applicant is a Limited Liability Company, please provide all supporting documents. A current list of machinery, equipment, and vehicles including the make and model and an estimate of current market value. Irrigation Information: A. Adjudication papers showing acres with water rights B. Annual taxes and/or assessments charged by the irrigation district, water board, drainage district, etc. C. Copies of stock in ditch and/or reservoir company D. If pump irrigated: 1. Well registration and adjudication 2. Make, model and serial number of pump, motor and center pivot or sideroll. Copy of B.L.M. Leases X. Copy of Forest Service Permit, Grazing Association memberships, etc. XI. XII. XIII. XIV. Copy of (or terms of) private leases A copy of the Offer and Acceptance Agreement, Purchase Agreement or other evidence of title for land being purchased and/or offered as collateral. For Beginning Agricultural Producer Loans, provide a detailed business plan for the first 3 to 5 years of your operation. Other

AFFIDAVIT BEGINNING AGRICULTURAL PRODUCER LOAN I/We, of of (applicant(s)) (address) County, State of Wyoming, am/are a qualified applicant(s) for a Beginning Agricultural Producer Loan. I/we am/are an individual or entity which has never owned and operated more than 160 acres of cultivated irrigated land, or 320 acres of cultivated dry crop land, or 640 acres of grazing land unless such land was acquired within the last two years; have adequate working capital; substantially participate in the operation; and meet all eligibility requirements under Chapter 7 of the Farm Loan Rules. I/We hereby state and affirm that the statements, information and descriptions herein contained are in all respects true, correct and complete; and that the same is being submitted by me/us to the State Loan and Investment Board, as providing the sole basis for any consideration to be given me/us in granting said loan; and that neither I/we nor any person on my/our behalf has or intend to exert or attempt to exert any improper influence whatsoever, direct or indirect, pecuniary or otherwise, over any persons charged with the appraisement of such property or the processing and issuance of such loans. State of Wyoming ) ) s.s. County of ) The foregoing instrument was acknowledged before me by this day of, 20. Witness my hand and official seal. My Commission Expires: Notary Public State of Wyoming ) ) s.s. County of ) = = = = = = = = = = = = The foregoing instrument was acknowledged before me by this day of, 20. Witness my hand and official seal. My Commission Expires: Notary Public

STATE LOAN & INVESTMENT BOARD AUTHORIZATION FOR RELEASE OF CREDIT INFORMATION I (we) hereby supplement and amend the State Loan & Investment Board application and agree as follows: I. This application and any support information is the property of the State Loan & Investment Board. II. III. IV. The Board is authorized to make credit checks for inquiries concerning matters listed as assets, liabilities, and references relevant to this loan application for any transaction relating to any loans made pursuant to this application, including farm or ranch operating statements or Federal Income Tax returns. Creditors and others are authorized to disclose information relative to any loans, accounts, purchases, or other financial transactions, past or current, to the State Loan & Investment Board. The Board is authorized to share with credit reporting agencies and other creditors doing business with the applicant information regarding the extension of credit. V. The applicant authorizes the Board to review any Courthouse files and records as deemed necessary. VI. With specific reference to FSA and other governmental agencies, the applicant authorizes representatives of the Board to view and/or obtain photocopies of the applicant=s owned and leased real estate. These agencies are also authorized to release any other information pertinent to real estate appraisals. SSN or EID No. SSN or EID No. SSN or EID No. SSN or EID No. Photcopies of this portion of the application may be presented to and relied upon by my creditors and others as evidence of my authorization to release information to the State Loan & Investment Board. Rev. 12/04

Rev. 03/2010 Name of HISTORICAL INCOME AND EXPENSES (COMPLETE FOR THE LAST THREE YEARS MINIMUM OR PROVIDE COPIES OF YOUR LAST THREE TO FIVE YEARS OF INCOME TAX RETURNS.) CASH INCOME: Sale of Livestock Raised Sale of Lvstk. Bought for Resale Cost of Lvstk. Bought for Resale Livestock Products Sold Grain and Crop Sales Government Program Payments Pasture Rent Income Sale of Capital Assets Off Farm Income Other Income TOTAL INCOME: CASH EXPENSES: Breeding Fees Car/Truck Expense Chemicals Custom Hire (machine work) Feed Fertilizer Freight & Trucking Gas, Fuel & Oil Insurance Interest - Current Liabilities Labor Hired Rent or Lease Repairs & Maintenance Seed Storage Supplies Property Taxes Utilities Veterinary Expenses Other 20 20 20 20 20 ( ) ( ) ( ) ( ) ( ) OTHER EXPENSES: Owner=s Draw/Salary/Living ** Income Tax Paid Social Security Tax Breeding Lvstk. Purchased Machinery Purchased Intermediate Payments (P& I) Real Estate Payment (P& I) TOTAL EXPENSES: INCOME MINUS EXPENSES: ** Include food, clothing, entertainment, school expenses, life and health insurance, etc. I CERTIFY THAT THE ABOVE INFORMATION WAS TAKEN FROM AND IS TRUE TO THE BEST OF MY KNOWLEDGE. (tax returns, farm records, etc.) COMMENTS: