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Subordination Clause Real Estate

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					                                                               ZIONS AG FINANCE
                                                               A Division of Zions First National Bank
FARM MORTGAGE APPLICATION
Principal Borrower
Business Structure (corp., trust, individual, part.):

Name                                                                                            birth                Tax ID #
                                                                                                date
Spouse                                                                                          birth                Tax ID #
                                                                                                date
Street                                                                                                               Home Phone

City, State, Zip                                                                                                     Bus. Phone

                                                                                                                     Fax
Are you a U.S. Citizen or Permanent Resident Alien?

Additional Borrower
Business Structure (corp., trust, individual, part.):

Name                                                                                            birth                Tax ID #
                                                                                                date
Spouse                                                                                          birth                Tax ID #
                                                                                                date
Street                                                                                                               Home Phone

City, State, Zip                                                                                                     Bus. Phone

                                                                                                                     Fax
Are you a U.S. Citizen or Permanent Resident Alien?

Loan Terms
Loan Amount Requested                                           Term in Years                            Maximum Interest Rate

      Payment Frequency                                         Amortization Years                       Fixed/ARM/VRM
      (payments per year)
Payment Month(s)                                                                                         Adjustable Frequency     1,
                                                  0                                                               3, 5, 7 etc.
Loan Product Description



Security
Acres                              County                                                                   State

Legal Description:



Additional Security (Include federal & state grazing leases, irrigation equipment, water rights & other equipment necessary to the
operation of the security):




Description of property and improvements:




          ver 4.0 6-02                                  389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                application
Title is/will be vested in:


The proceeds of the loan will be used as follows:                      These questions apply to all applicants. If yes to any, please explain.
                                                                       Are any assets pledged as security for debts of others?
                                                                       Have you had a bankruptcy? (past 7 years)
                                                                       Do you have any judgments against you?
                                                                       Are you a party to any lawsuit?
                                                                       Do you have any contingent liabilities?
                                                                       Have you endorsed or guaranteed notes for others?
                                                                       Are you obligated to pay alimony or support?
             Total                                                     Property foreclosed or deed in lieu? (past 7 years)
I/we intend to engage in agricultural production on the real property which is the security for this
application? (yes/no)

Describe any labor performed, materials furnished or contracts made in connection with the erection or alteration or other
improvements on the offered security within the past six months:



List all leases on the security, including lessees, amounts, property leased and the lease expiration dates:



Agreement

The undersigned applicants apply for the loan indicated on this application to be secured by a first mortgage or deed of trust on the property described herein.
All persons and companies owning an interest in the property will sign all loan documents required by Zions First National Bank (Lender) for closing. Applicant
represents that it has no claims against, or defenses to obligations owing by applicant to Lender or its affiliates or waives all such claims and defenses to the
extent allowed by law. This provision is subject to claims for performance of express contractual obligation owing to applicant by Lender or its affiliates. All
disagreements arising as a result of this application or processing of the application shall be resolved by binding arbitration in accordance with Commercial
Arbitration Rules of the American Arbitration Association. Everything stated in the application is true and correct to the best of my knowledge. Lender will retain
this application whether or not it is approved. Lender is authorized to check credit and employment history and answer questions about my credit experience
with Lender.

Lender will require the reconveyance, termination or subordination of any junior lien holders, leases, or other liens as considered by the Lender necessary in
perfecting its security position. All improvements presently and hereafter attached to the real estate are and will be part of the security. Applicant will carry
hazard insurance on the improvements in an amount satisfactory to the lender and with a loss payable clause in favor of the Lender.


Applicant is required to pay all fees, taxes and expenses in connection with closing the loan including title and escrow fees, credit report, UCC search, appraisal,
attorney fees, and the cost of preparation, filing and recording of all loan documents. Applicant is required to pay all pairoff fees on loans that are rate locked
with the Lender and not closed.

Applicant is required to submit to Zions Ag Finance a loan origination fee. The fee will be refunded only if a Preliminary Loan Approval Notice is not issued.



Loan Origination Fee:

All applicants must sign                                                                                 Date




         ver 4.0 6-02                                389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                             application
Additional Borrower
Business Structure (corp., trust, individual, part.):


Name                                                                                       birth          Tax ID #
                                                                                           date
Spouse                                                                                     birth          Tax ID #
                                                                                           date
Street                                                                                                    Home Phone


City, State, Zip                                                                                          Bus. Phone


                                                                                                          Fax
Are you a U.S. Citizen or Permanent Resident Alien?


Additional Borrower
Business Structure (corp., trust, individual, part.):


Name                                                                                       birth          Tax ID #
                                                                                           date
Spouse                                                                                     birth          Tax ID #
                                                                                           date
Street                                                                                                    Home Phone


City, State, Zip                                                                                          Bus. Phone


                                                                                                          Fax
Are you a U.S. Citizen or Permanent Resident Alien?




All applicants must sign                                                                           Date




          ver 4.0 6-02                                  389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                application
                     ESTIMATE ONLY AND NOT TO BE CONSIDERED THE
                     FINAL PAYMENT SCHEDULE FOR THIS LOAN!

               Initial Data
               LOAN TYPE (ARM or Fixed)?                         (If ARM, see additional Amortization Schedule)
               LOAN DATA                                                                            TABLE DATA
                                Loan amount:                $0                                Table starts at date:
                       Annual interest rate:            0.00%                              or at payment number:                 1
                                 Amortization:               0                                          Loan date:       8/16/2011
                        Payments per year:                   0                                  Interest Only date:
                               Term (Years):                 0                                               Year:               360
                     First full payment due:          7/1/2005                           Term                Years                 8
                                Maturity date:        1/1/2020                                             Months                  5
                  Annual principal reduction:               no
                  Annual principal reduction:          0.000%                       First Year's Payment               #DIV/0!
                                     Balloon:             #N/A
               PERIODIC PAYMENT
                         Entered payment:                              The table uses the calculated periodic payment amount,
                       Amortized payment:          #DIV/0!              unless you enter a value for "Entered payment."
               CALCULATIONS
                          Use payment of:          #DIV/0!                       Beginning balance at payment 1:       #DIV/0!
                     1st payment in table:                   1


               Table
                            Payment              Beginning                                             Ending         Cumulative
               No.            Date                Balance             Interest        Principal        Balance         Interest




ver 4.0 6-02                                     389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                       Amortization
 ARM Interest Shock & Payment Data
                                        Loan amount:            $0
                                    Initial ARM Rate:       0.00%
           Interest rate margin for Shock Analysis:                            First Year's Payment   #DIV/0!
                                         Amortization:           0
                                Payments per year:               0
                                        Term (Years):            0
                             First full payment due:      7/1/2005
                                        Maturity date:    1/1/2020
                         Annual principal reduction             no
                         Annual principal reduction              0
                                              Balloon:        #N/A

                                Amortized payment:       #DIV/0!




ver 4.0 6-02                             389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011              ARM Amortization
                                                       Balance Sheet - Market Basis
Statement of :                                                              Signature

 Date:                                                                      Signature


                          ASSETS                            Amount                                 LIABILITIES                         Amount
         CURRENT ASSETS                                                            CURRENT LIABILITIES
Cash                                                                        Accounts Payable(one year)
Savings
Marketable Bonds & Securities
Cash Value Life Insurance                                                   Current Debt - Mkt. LS, Crop Credit     Schedule C
Accounts Receivable                   Schedule D                            Income Taxes Payable
Current Portion Notes Receivable      Schedule E                            Real Estate Taxes Due
Harvested Crops                       Schedule G                            Rents Due
Growing Crops (at cost)               Schedule F                            Accrued Interest                      Schedule A,B,C
Livestock held for sale (at market)   Schedule I                            Current Mat. of Non-Curr. Debt         Schedule A,B
Prepaid Expenses & Supplies
         Other Current Assets:                                              Other Current Liabilities




Total Current Assets                                                    $ Total Current Liabilities                                             $
         NON-CURRENT ASSETS                                                        NON-CURRENT LIABILITIES
Livestock - Breeding                  Schedule H                            Chattel Debt & Notes Payable            Schedule B
Machinery and Vehicles                Schedule K




Investments in Cooperatives                                                        Less Current Portion             Schedule B
Other Investments:
                                                                            Other Non-Current Liabilities




Notes and Contracts Receivable        Schedule E
         Less Current Portion

Real Estate Owned                     Schedule A                            Real Estate Mortgages                   Schedule A




                                                                                   Less Current Portion             Schedule A

         Total Real Estate Owned                                                   Total Non-Current Real Estate Liabilities
Total Non-Current Assets                                                $ Total Non-Current Liabilities                                         $
                                                                                   Total Liabilities                                            $
                                                                                   Net Worth                                                    $
         Total Assets                                                   $          Total                                                        $




           ver 4.0 6-02                            389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                         BALANCE SHEET (1)
SCHEDULE A - REAL ESTATE AND DEBT
X      Prop. Security        Purchase                                                 (a f n)                             Accrued            Annual Totals
       Acres      Year         Price        Market Value             Payable To                 Balance        Rate       Interest       Interest       Principal




                                                                  Total Real Estate


SCHEDULE B - Chattel Debt (Machinery, Breeding Livestock, etc.) & Notes Payable
                                                                                      (a f n)                             Accrued            Annual Totals
                 Holder                            Security                                     Balance        Rate       Interest       Interest       Principal




                                               Total Chattel Debt - Notes Payable
(f = int. appears in tax sched. F or farm inc. & exp. in this submission) (n = int. appears on non-farm tax sched. C or E) (a = int. appears on tax sched. A)
SCHEDULE C - Current Debt - Operating Lines, Market Livestock, Due in 12 Months
                                                                                                                          Accrued
                 Holder                            Security                                     Balance        Rate       Interest




                                                              Total Current Debt

                                           Annualized Farm Curr. Bal. and Rate
                                           TOTAL FARM NON-CURRENT P&I, ACCRUED INTEREST
                                           TOTAL NON-FARM NON-CURRENT P&I, (excluding tax shed. A, P&I)
                                           TOTAL ANNUAL P&I (CASH FLOW REQUIRED)




        ver 4.0 6-02                                 389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                                BS (1a)
SCHEDULE D - Accounts Receivable                     SCHEDULE E - Notes Receivable
Receivable From:                          Amount     Receivable From:                Amount       Rate   Interest   Principal      Ann. Total




                           Total                               Total


SCHEDULE F - Growing Crops (at Cost)                 SCHEDULE G - Harvested Crops
     Crop          Ac.   Cost/Ac.          Value               Crop                     Amount            Units      Price           Value




                           Total                                                               Total


SCHEDULE H - Breeding Livestock                      SCHEDULE I - Market Livestock
    Type           No.     Price           Value                            Type                           No.       Price           Value




                           Total                                                               Total


SCHEDULE J - Leased Machinery, Equipment and Vehicles
                                                                                              Purchase                No.          Ann. Lease
Lessor                                 Description                                             Option               Payments        Payment




                                                                                               Total




         ver 4.0 6-02                           389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                 BS (1a)
SCHEDULE K - Owned Machinery, Equipment and Vehicles
                                                                                                   Depr.        Market
   Year                      Make                                          Description             Value        Value




                                                                                          Totals




       ver 4.0 6-02                         389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                BS (1a)
                                                    Pro Forma Balance Sheet - Market Basis
Statement of :

 Date:


                 ASSETS                   Current     Change      Pro-forma               LIABILITIES                       Current       Change    Pro-forma
         CURRENT ASSETS                                                              CURRENT LIABILITIES
Cash                                                                          Accounts Payable(one year)
Savings
Marketable Bonds & Securities
Cash Value Life Insurance                                                     Current Debt - Mkt. LS, Crop Credit       C
Accounts Receivable                   D                                       Income Taxes Payable
Current Portion Notes Receivable      E                                       Real Estate Taxes Due
Harvested Crops                       G                                       Rents Due
Growing Crops (at cost)               F                                       Accrued Interest                      A,B,C
Livestock held for sale (at market)   I                                       Current Mat. of Non-Curr. Debt         A,B
Prepaid Expenses & Supplies
         Other Current Assets:                                                Other Current Liabilities




Total Current Assets                                                          Total Current Liabilities
         NON-CURRENT ASSETS                                                          NON-CURRENT LIABILITIES
Livestock - Breeding                  H                                       Chattel Debt & Notes Payable              B
Machinery and Vehicles                K




Investments in Cooperatives                                                          Less Current Portion               B
Other Investments:
                                                                              Other Non-Current Liabilities




Notes and Contracts Receivable        E
         Less Current Portion

Real Estate Owned                     A                                       Real Estate Mortgages                     A




                                                                                     Less Current Portion               A

         Total Real Estate Owned                                                     Total Non-Current RE Liabilities
Total Non-Current Assets                                                      Total Non-Current Liabilities
                                                                                      Total Liabilities
                                                                                      Net Worth
         Total Assets                                                                 Total




           ver 4.0 6-02                               389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                 BS (1) PRO-FORMA
SCHEDULE A - REAL ESTATE AND DEBT
X      Prop. Security        Purchase                                                 (a f n)                             Accrued            Annual Totals
       Acres      Year         Price        Market Value             Payable To                 Balance        Rate       Interest       Interest      Principal




                                                                  Total Real Estate


SCHEDULE B - Chattel Debt (Machinery, Breeding Livestock, etc.) & Notes Payable
                                                                                      (a f n)                             Accrued            Annual Totals
                 Holder                            Security                                     Balance        Rate       Interest       Interest      Principal




                                               Total Chattel Debt - Notes Payable
(f = int. appears in tax sched. F or farm inc. & exp. in this submission) (n = int. appears on non-farm tax sched. C or E) (a = int. appears on tax sched. A)
SCHEDULE C - Current Debt - Operating Lines, Market Livestock, Due in 12 Months
                                                                                                                          Accrued
                 Holder                            Security                                     Balance        Rate       Interest




                                                              Total Current Debt

                                           Annualized Farm Curr. Bal. and Rate
                                           TOTAL FARM NON-CURRENT P&I, ACCRUED INTEREST
                                           TOTAL NON-FARM NON-CURRENT P&I, (excluding tax shed. A, P&I)
                                           TOTAL ANNUAL P&I (CASH FLOW REQUIRED)




        ver 4.0 6-02                                 389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                       BS (1) PF (1a)
SCHEDULE D - Accounts Receivable                     SCHEDULE E - Notes Receivable
Receivable From:                          Amount     Receivable From:                Amount       Rate   Interest   Principal   Ann. Total




                           Total                               Total


SCHEDULE F - Growing Crops (at Cost)                 SCHEDULE G - Harvested Crops
     Crop          Ac.   Cost/Ac.          Value               Crop                     Amount            Units      Price        Value




                           Total                                                               Total


SCHEDULE H - Breeding Livestock                      SCHEDULE I - Market Livestock
    Type           No.     Price           Value                            Type                           No.       Price        Value




                           Total                                                               Total


SCHEDULE J - Leased Machinery, Equipment and Vehicles
                                                                                              Purchase                No.       Ann. Lease
Lessor                                 Description                                             Option               Payments     Payment




                                                                                               Total




         ver 4.0 6-02                           389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                       BS (1) PF (1a)
SCHEDULE K - Owned Machinery, Equipment and Vehicles
                                                                                                   Depr.        Market
   Year                      Make                                          Description             Value        Value




                                                                                          Totals




       ver 4.0 6-02                         389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011         BS (1) PF (1a)
       INCOME AND EXPENSE STATEMENT
      Applicant:                                                                            Cash
                                                                                            Accrual
              Source of Information:        tax returns                                     Years
      FARM INCOME                                   2000     2001        2002        2003     Average     Pro Forma
      Net Purchased LS & other                                                                #DIV/0!
      Raised Farm Products                                                                    #DIV/0!
      Cooperative Distributions                                                               #DIV/0!
      Ag Program Payments                                                                     #DIV/0!
      CCC Loans                                                                               #DIV/0!
      Crop Insurance                                                                          #DIV/0!
      Custom Hire                                                                             #DIV/0!
                                                                                              #DIV/0!
                                                                                              #DIV/0!
      Income From New Property
                   Gross Farm Income                                                          #DIV/0!
      FARM EXPENSES
      Car & Truck                                                                             #DIV/0!
      Chemicals                                                                               #DIV/0!
      Conservation                                                                            #DIV/0!
      Custom Hire                                                                             #DIV/0!
      Depreciation                                                                            #DIV/0!
      Feed                                                                                    #DIV/0!
      Fertilizer                                                                              #DIV/0!
      Freight                                                                                 #DIV/0!
      Gasoline, Fuel                                                                          #DIV/0!
      Insurance                                                                               #DIV/0!
      INTEREST: Mortgage/Non-current                                                          #DIV/0!
                   Other Interest/Current                                                     #DIV/0!
                    Total Interest                                                            #DIV/0!
      Labor                                                                                   #DIV/0!
      Rent/Lease, Machinery                                                                   #DIV/0!
      Rent/Lease, Land                                                                        #DIV/0!
      Repairs                                                                                 #DIV/0!
      Seed                                                                                    #DIV/0!
      Storage                                                                                 #DIV/0!
      Supplies                                                                                #DIV/0!
      Taxes                                                                                   #DIV/0!
      Utilities                                                                               #DIV/0!
      Veterinary fees                                                                         #DIV/0!
                                                                                              #DIV/0!
      Expense From New Property
                  Total Farm Expenses                                                           #DIV/0!
      NET FARM INCOME                                                                         #DIV/0!
      NON FARM INCOME
      Salaries                                                                                #DIV/0!
      Interest income                                                                         #DIV/0!
      Dividends                                                                               #DIV/0!
      Business Inc. (Sch C)                                                                   #DIV/0!
      Capital Gain/Loss (Sch D)                                                               #DIV/0!
      Other Gains/Loss (4797)                                                                 #DIV/0!
      Rental Income (Sch E)                                                                   #DIV/0!
                                                                                              #DIV/0!
                                                                                              #DIV/0!
                                                                                              #DIV/0!
                 Total Non Farm Income                                                        #DIV/0!
      TOTAL PRE-TAX INCOME                                                                    #DIV/0!




ver 4.0 6-02                            389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                      INC & EXP (1)
       Cash Flow Coverage
                        Year                       2000        2001        2002        2003     Average     Pro Forma
      TOTAL PRE-TAX INCOME                                                                        #DIV/0!
      Plus Adjustments:
      Farm Depreciation                                                                         #DIV/0!
      Non-Farm Depreciation                                                                     #DIV/0!
      Farm Current/Non-Current Int. (F)                                                         #DIV/0!
      Non-Farm Non-Curr. Interest (C,E)                                                         #DIV/0!
      Capital Lease Payments                                                                    #DIV/0!
                                                                                                #DIV/0!
                                                                                                #DIV/0!
                                                                                                #DIV/0!
                                                                                                #DIV/0!
                                                                                                #DIV/0!
      Minus Adjustments:
      Income & FICA taxes                                                                       #DIV/0!
      Family Living                                                                             #DIV/0!
      Non-Recurring Income                                                                      #DIV/0!
                                                                                                #DIV/0!
                                                                                                #DIV/0!
                                                                                                #DIV/0!
      CASH FLOW AVAILABLE                                                                       #DIV/0!
      TOTAL ANNUAL P&I                                                                          #DIV/0!
      ANN. CAPITAL LEASE PAYMENTS                                                               #DIV/0!
                                                                                                #DIV/0!
      TOTAL CASH FLOW REQUIRED                                                                  #DIV/0!
      Excess Cash Available                                                                     #DIV/0!
      Pro Forma Total Debt Coverage               #DIV/0!     #DIV/0!     #DIV/0!     #DIV/0!   #DIV/0!      #DIV/0!

      Comments:




ver 4.0 6-02                              389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                      INC & EXP (1)
                                                                      LOAN SUMMARY

Seller Information                                                                                Originator Information
Name                       Zions Ag Finance                                                       Name                     Your Name
Contact Name               Steve Burrier                                                          Contact Name
Address                                                                                           Address
Street Address             500 Fifth St.                                                          Street Address
City, State, Zip           Ames, IA 50010-6063                                                    City, State, Zip
Telephone Number           515-232-7310                                                           Telephone Number
Fax Number                 515-232-3002                                                           Fax Number


                                                                      Borrower Information
Name
Borrower Type                                                                                     (Individual, Partnership, Corporation, Trust, Other)
TIN/SSN
Billing Address                                                                                   Is borrower or are its partners or stockholders U.S.
City, State, Zip                                                                                  Citizens or Nationals?                          (Yes/No)
Business Phone No.                                                                                Loan Guarantors                                 (Yes/No)
Home Phone Number                                                                                 Loan Co-Applicants                              (Yes/No)
Fax Number
Do Applicants Have Other Related Loans


                                                                            Loan Requested
Principal                  $                -                                                     LOAN PURPOSE*
Billing Frequency                    0              Payments per year                             Purchase RE
Description                                         (Fixed, ARM, VRM)                             Refinance RE
Max. Rate Req.                            0.00%                                                   Improvements
Max. Rate Payment                       #DIV/0! (Annual Amount)                                   Refi Non-RE                                            #DIV/0!
Balloon                            #N/A         (<50% of Appr.)                                   Cash out                                               #DIV/0!
Term                                 0              Years                                         Closing fees                                           #DIV/0!
ARM/VRM                                             Years                                         Total/Cashout %                             0          #DIV/0!
Amortization                         0              Years                                         *Allocate the loan amount by its purpose, in dollars


                                                                       Real Estate Security
Total Acres                                 0.00                                                    COMMODITIES                PERCENT
Tillable                                                                                           GROWN ON SEC.               OF TOTAL
Irrigated Acres
County
State
Estimate of Value                                   (Not yet Appraised)
Est. of Property Inc.                               (Not yet Appraised)
UCC Required on                                                                                   TOTAL                                       0


                                                                      Appraisal Information
Total Value                $                    -                                                 Appraisal Date
Value Land*                                                                                       Orig. Pur. Price
Value Improvements                                                                                Orig. Pur. Date
Value Other                                                                                       Improve. Since Pur.
Insurance Req.                                      (Yes/No; In $ if Yes)                         Net Property Inc.**
                           Lease Pymt. on equip./fixtures necessary to operate the real property
                           Is borrower's principal residence on the property securing the loan?                                                   (Yes or No)
* Including permanent plantings                                             ** As determined by Appraiser




            ver 4.0 6-02                                389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                      Loan Summary
                                                        LOAN SUMMARY


Balance Sheet Trend Analysis
Date                                                                                              1/0/1900            Pro-Forma
Current Assets
Other Non-Curr Ass.
Real Estate
Total Assets
Current Liabilities
Other Non-Curr Liab.
Real Estate Liabilities
Total Liabilities
Net Worth
Change In Net Worth                                     0                   0                 0                 0                 0
RE Appreciation           -
                          -
                          +
Earned Gain                                             0                   0                 0                 0                 0
Current Ratio                 #DIV/0!         #DIV/0!            #DIV/0!            #DIV/0!       #DIV/0!              #DIV/0!
Debt/Asset Ratio              #DIV/0!         #DIV/0!            #DIV/0!            #DIV/0!       #DIV/0!              #DIV/0!
Contingent Liabilities



Income Statement Trend Analysis                                                                              Years        0
          Year                 2000            2001               2002               2003         Average             Pro-Forma
+ Total Farm Income                     0               0                   0                 0         #DIV/0!                   0
- Total Farm Expenses                   0               0                   0                 0         #DIV/0!                   0
= Net Farm Income                       0               0                   0                 0         #DIV/0!                   0
+ Net Non-Farm Inc.                     0               0                   0                 0         #DIV/0!                   0
+ Depreciation*                         0               0                   0                 0         #DIV/0!                   0
+ Total Interest*                       0               0                   0                 0         #DIV/0!                   0
+ Ann. Cap. lease*                      0               0                   0                 0         #DIV/0!                   0
+ Other                                 0               0                   0                 0         #DIV/0!
- Income & FICA Tax                     0               0                   0                 0         #DIV/0!                   0
- Family Living                         0               0                   0                 0         #DIV/0!                   0
- Non-Recurring                         0               0                   0                 0         #DIV/0!
- Other                                 0               0                   0                 0         #DIV/0!
= Cash Flow (CFA)                       0               0                   0                 0         #DIV/0!                   0
+Annual P&I                             0                0                  0                 0         #DIV/0!                   0
+Ann. Cap. Lease                        0                0                  0                 0         #DIV/0!                   0
                                        0                0                  0                 0         #DIV/0!                   0
=CFR                                    0                0                  0                 0         #DIV/0!                   0
Excess cash                             0                0                  0                 0         #DIV/0!                   0
TDC                           #DIV/0!         #DIV/0!            #DIV/0!            #DIV/0!       #DIV/0!              #DIV/0!
* Includes Farm & Non-Farm
Comments:




          ver 4.0 6-02                      389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                     Loan Summary
                                                                    LOAN SUMMARY


                                                                  Underwriting Standards
Pro Forma Current Ratio:                                                                                   Credit Score
                                              Current Assets                                          0
                                              Current Liabilities                                     0
                                              CA/CL                   (Minimum 1:1)             #DIV/0!      #DIV/0!


Pro Forma Debt - Asset Ratio:
                                              Total Liabilities                                       0
                                              Total Assets                                            0
                                              TL/TA                   (Maximum .50)             #DIV/0!      #DIV/0!


Pro Forma Total Debt Coverage Ratio:
                                          +   Net Farm Income                                         0
                                          +   Net Non-Farm Inc.                                       0
                                          +   Depreciation*                                           0
                                          +   Total Interest*                                         0
                                          +   Ann. Cap. Lease                                         0
                                          -   Income & FICA Taxes                                     0
                                          -   Family Living                                           0
                                          =   Cash Flow Available (CFA)                               0


                                          + Annual P&I*                                               0
                                          + Ann. Capital Lease Payments                               0
                                          = Cash Flow Required (CFR)                                  0


                                              CFA/CFR                 (Minimum 1.25:1)          #DIV/0!      #DIV/0!
                                              * Includes Farm & Non-Farm


TDC Shock (if required)                       CFR                                               #DIV/0!
                                              CFA/CFR                                           #DIV/0!


Loan to Value Ratio:
                                              Loan Amount                                             0
                                              Appraised Value                                         0
                                              Loan Amount/Appraised Value                       #DIV/0!
                                                                      (Maximum .70)


Pro Forma Property Debt Coverage Ratio:
                                              Net Property Income                                     0
                                              Principal & Interest on Loan                      #DIV/0!
                                              Inc./Payment            (Minimum 1:1)             #DIV/0!


Balloon Payment/Original Appraised Value
                                              Balloon Payment                                       #N/A
                                              Value (Estimate or Appraised?)                          0
                                              BP/AV                   (Maximum 50%)                 #N/A


                                              TOTAL CREDIT SCORE                                             #DIV/0!




        ver 4.0 6-02                              389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                         Loan Summary
                                                            PRELIMINARY LOAN APPROVAL CHECKLIST

Preliminary Documentation

Applicant:                                                                                                         Loan Amount $                          -
                                Full Underwrite
                Fast Track II
 Fast Track I




                                                   1. Loan Application listing all applicants

                                                   2. Request for the maximum interest rate for which approval is sought                             0.00%

                                                   3. Schedule of proposed principal and interest payments (amortization schedule)

                                                   4. Credit Report with credit score on each primary obligor. (FTI 700) (FTII 720) (FU 680)

                                                   5. Current market value balance sheet(s) with schedules (including debt schedule)

                                                   6. Previous three years of market value balance sheets and schedules

                                                   7. Signed Tax Returns/Income statements for previous three years

                                                   8. Signed Tax Returns/Income statements for previous two years for Fast Track II or for the previous year from Fast Track I

                                                   9. Proforma balance sheet and schedules (including debt schedule)

                                                  10. Historical income and expense spread with proforma projections for Income Statements

                                                  11. Verification, non-farm income(copies of the 2 most recent paystubs or most recent W-2 for each applicant employed off-farm)

                                                  12. Credit verifications from major lender(s) of the borrower

                                                  13. Written mortgage verifications outlining outstanding principal balance and payment history (at least 24 mo) or two most
                                                      recent 1098's for each mortgage not in the Credit Report

                                                  14. Narrative analysis of the ranching or farming operation (5 C's of Credit)

                                                  15. Brief narrative detailing borrower's operation, use of funds and collateral for the loan

                                                  16. Completed Loan Summary

                                                      The following items may be submitted with the Preliminary Approval file or may be submitted later

                                                  17. UCC Lien Search

                                                  18. Current Environmental Disclosure signed by the loan applicants & appraiser

                                                  19. Evidence of hazard insurance coverage with loss payee endorsement(only if contributory value of improv >20% total appr value)

                                                  20. Analysis of water supply for irrigated land and evidence of lienable water rights and/or entitlements

                                                  21. Evidence of grazing permits, allotments and leases

                                                  22. Copies of all material contracts and leases

                                                  23. Description of fixtures and personal property needed to operate the mortgaged property upon which
                                                      Seller will perfect appropriate UCC filings prior to or at closing

                                                  24. Appraisal report conforming to USPAP (and Farmer Mac standards if applicable)

                                                  25. Other:

                                                  26. Other:




                                                  Prepared by:                                                                           Date:




                ver 4.0 03-06                                                 389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                        Checklist
                                                      WORK SHEET
This work sheet is to assist in comparative and consolidated Balance sheets
          Dates                                                                            Eliminations      Consolidated
Assets
Cash
Savings
Harvested Crops
Growing Crops
Market Livestock


Total Current Assets
Breeding Livestock
Machinery
Other Investments
Contracts Receivable


Real Estate




Total Assets
Liabilities
Accounts Payable
Taxes Payable
Rents Due
Accrued Interest
Current Maturities



Total Curr. Liabilities
Notes Payable

Real Estate Debt


Total Liabilities
Net Worth
Change in Net Worth
Adjustments
Less Appreciation




Earned Gain




       ver 4.0 6-02                      389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                  Worksheet
                                                     ENVIRONMENTAL DISCLOSURE
                                               (Supplement to Application for Loan or Loan Servicing Request)


       Name
                                                            Please answer ALL questions:
Real Property Security
Statement applies to all of the subject property*                                                           Yes                  No
Parcels only, Describe:
*If this statement does not apply to all parcels, complete a separate Hazardous Waste Statement for each different parcel.


Use Permit and Government Notices
1. Do you have a Use Permit for pesticides?                                                                 Yes                  No
               If yes, what is the permit no.?
2. Have you received notice from any governmental authorities concerning the removal
  of any toxic or hazardous waste material or substance from the property?                                  Yes                  No
               If yes, briefly describe which authority, when notice was received and the nature of the notice.



3. Is subject property on a national or state hazardous waste site priority list?                           Yes                  No
               If yes, indicate which list(s) and any numerical score or rating assigned



Water Management
               Describe the source(s) and location of water for the property (if cropland is irrigated, complete Irrigation Supplement):



Storage Tank(s)
1. Are there any underground or aboveground storage tanks on the security?                                  Yes                  No
                       If yes, for each tank provide the following information (for more than three tanks, use additional page)
Tank #1                      Above ground                                  Underground                 ** Testing or removal required
               Age:                                                        Size:
               Contents:                                                   Location:
               Is tank permitted?                           (Yes/No)       Permit No.
               Has tank been tested?                        (Yes/No)       Attach test report
               Has tank leaked?                             (Yes/No)       If Yes give details:



Tank #2                      Above ground                                  Underground                 ** Testing or removal required
               Age:                                                        Size:
               Contents:                                                   Location:
               Is tank permitted?                           (Yes/No)       Permit No.                                                      (attach copy)
               Has tank been tested?                        (Yes/No)       Attach test report
               Has tank leaked?                             (Yes/No)       If Yes give details:



Tank #3                      Above ground                                  Underground                 ** Testing or removal required
               Age:                                                        Size:
               Contents:                                                   Location:
               Is tank permitted?                           (Yes/No)       Permit No.                                                      (attach copy)
               Has tank been tested?                        (Yes/No)       Attach test report
               Has tank leaked?                             (Yes/No)       If Yes give details:




      ver 4.0 6-02                                  389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                        Environmental
Collection Sites
1. Are there any open pits, sumps or dumps on the property?                                                Yes               No


2. Are there any drain water evaporation ponds?                                                            Yes               No


3. Are there any holding ponds with chemical wastes or effluent?                                           Yes               No


               If yes, for each site provide the following information:
               Age:                                                      Use:
               Contents:                                                 Location:
               Is site permitted?                           (Yes/No)     Permit No.                                                      (attach copy)
               Has site been tested?                        (Yes/No)     Attach test report
               Distance to wells, stream or drainage ditch:


Handling, Storage/Disposal of Hazardous Substances, Materials, Waste
1. Are pesticides or other hazardous substances stored on the property?                                    Yes               No
               a. Briefly describe where they are located (e.g., in the shed 150 feet SE of the farm residence):


               b. Briefly describe the contents:




               c. Have you disposed of hazardous substances on this property?                              Yes               No
                 If yes, specify where and how you disposed of them:



Miscellaneous

1. Is there any knowledge of contamination or threat of contamination from
   adjacent or nearby properties (e.g., security is located next to a dumpsite or an
   industrial plant with chemical holding ponds? If yes, briefly describe problem:                         Yes               No



2. Are you aware of any hazardous waste problem existing on the real property
   offered as security (whether from your operation or previous owner's operations)
   that has not already been described above? If yes, briefly describe problem:                            Yes               No



3. Has any environmental audit, assessment or survey been conducted on the
   property? If so, please attach a copy.                                                                  Yes               No


Certification and Acknowledgment of Applicant/Owner and Appraiser

The undersigned hereby certify that the foregoing is true and complete to the best of his/her knowledge and is given for the purpose of
obtaining this loan or this continuation of the extension of credit.



Applicant's/Owner's Signature                      Date                  Applicant's/Owner's Signature                            Date



Appraisers Signature                               Date                  Applicant's/Owner's Signature                            Date




      ver 4.0 6-02                                  389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                  Environmental
                                        REQUEST FOR CREDIT INFORMATION
                                                              ZIONS AG FINANCE
Applicant(s) has applied for a loan with ZIONS AG FINANCE, 500 Fifth St., Ames, Iowa 50010-6063. Applicant(s)
authorizes ZIONS AG FINANCE to conduct a credit inquiry and has listed your organization as a reference. Please furnish
the requested information and forward this request in the enclosed envelope. Applicant(s) authorize ZIONS AG FINANCE
to conduct their own credit investigation including a request for a business or consumer credit report.


Date                                        Applicant's Signature                                   Applicant's Signature

To:                                                                              For:
                                                  Credit Reference                                                                              Applicant


                                                            Address                                                                              Address

                                                       City-State-Zip                                                                      City-State-Zip


LOAN INFORMATION
                            Current         Interest         Payment Terms         Date Last           Final Due        Original Loan      Original Loan
TYPE OF CREDIT              Balance           Rate         Amount    Frequency       Paid                 Date             Amount              Date
                       $                               $                                                            $
  REAL ESTATE




       CHATTEL




      OPEN NOTE




Number of delinquent payments ___________ Amount overdue $_______________________
Years of experience with your organization ____________ Maximum credit extended at one time $_____________________
Do you have any co-signors or guarantors on the above loans? _____________________
Do you have any knowledge of bankruptcy, foreclosure or compromised debt involving the applicant? _____________________________
Have you imposed any restrictions on future transactions with the applicant? __________ Explain "yes" response ___________________


PAYMENT HISTORY                                                                  CASH ACCOUNTS
                                                                                        TYPE OF ACCOUNT                          BALANCE
           PROMPT

           SATISFACTORY

           LESS THAN SATISFACTORY

           SLOW



Additional comments:



                                Signature                                               Telephone                                                       Date




       ver 4.0 6-02                            389fb081-f51d-479e-ade1-15abb266328e1 8/16/2011                                          Credit Verify

				
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Description: Subordination Clause Real Estate document sample