Last Will and Testament of PETER B. NICKLAUS KNOW ALL MEN BY THESE PRESENTS: That I, Peter B. Nicklaus, of Butler County, Iowa, being mindful of the uncertainties of life and desiring to make a distribution of my properties effective at my-death, hereby cancel and revoke all previous Wills and Codicils and declare the following as and for my Last Will and Testament, to wit: ARTICLE I I hereby appoint my beloved wifep Mrs. Lula M. Nicklaus, of Butler County, Iowa, executrix of this my Last Will and Testament, and authorize her to take charge of my estate following my death and operate my business affairs. It is my desire that the executrix serve without bond. I further authorize her to pay out of my estate my just debts, the costs and expenses of administration, and all inheritance, estate and sliccession taxes of the United States or state or territory against my taxable estate. My executrix shall not receive reimbursement from anyone therefor. To this end I hereby authorize her to sell and convert into cash the same as I could, any and all of my personal and real properties to raise the necessary funds to discharge the above enumerated obligations, and carry into effect the provisions of this Will and Testament. ARTICLE II Subject to the foregoing and in lieu of my wife's statutory distributive share of my estate, I hereby give, devise and bequeath to my said wife, should she sur- vive me, the rest, residue and remainder of my estate, what- ever its nature and wherever situated, to be hers absolutely and without restriction. This provision shall continue in full force and effect regardless of whether or not any child or children may hereafter be adopted, recognized or born to my said wife and me. In making this bequest I have intent- ionally disinherited my children., except as provided under Article III., including any person or persons who may after the date of this Will become my heir or heirs by reason of marriage or otherwise. ARTICLE III Subject to the foregoing and in the event my wife predeceases me, I give, devise and bequeath the rest residue and remainder of my estate, whatever its nature and wherever situated, to my following children, if living at the time of my death, to be theirs absolutely and without restriction, in equal parts shares and amounts: Gerard Nicklaus, Georgia Rewerts, Romaine Nicklaus and Justin Nicklaus. ARTICLE IV In the event that a son or daughter of mine mentioned in Article III predeceases me, then I give, devise, and bequeath his share to his children, in equal shares and amounts, and should there be no such children, then his share shall be divided equally among my surviving children enumerated in Article III. ARTICLE V If any beneficiary under this my will shall die simultaneously with me or under such circumstances as to make it questionable as to who survived, then in that event it is my intent and will, and I so provide, that I shall be deemed to have survived such beneficiary, and all the provisions of this my will shall be contrued upon that premise. ARTICLE VI In the event my wife predeceases me, I hereby appoint my son Gerard Nicklaus executor of this my Last Will and Testament upon my death. It is my de- sire that the executor serve without bond. I authorize him to take charge of my estate following my death and operate my business affairs. I further authorize him to pay out of my estate my just debts, the costs and expenses of my last illness and funeral, the costs and expenses of administration, and all inheritance, estate and succession taxes of the United States or state or territory against my taxable estate. My executor shall not seek reimburse- ment from anyone therefor. To this end, I hereby authorize him to sell and convert into cash, the same as I could, any and all of my personal and real properties to raise the necessary funds to discharge the above enumerated obligations, and carry into effect the provisions hereof. ARTTCLE VII If my wife survives me, I give, devise and bequeath unto her that fractional share of my estate which will equal the maximum estate tax marital deduction (allow- able in determining the federal estate-tax on my gross estate for federal estate tax purposes) diminished by the value for federal estate tax purposes of all other items in my said gross estate, which shall qualify for said deduction and which pass, or have passed to my said wife, irrespective of whether probatc or non-probate otherwise than by the terms of this Article of my Will. In making the computations necessary to make such fractional share, the final determinations in the federal estate tax proceedings shall control. ARTCLE VIII IN WITNESS WHEREEOF, I have hereunto subscribed my name this 9th day of January, 1965, A.D. (signed) ____________________ Peter B. Nicklaus We, the undersigned, hereby certify that the foregoing instrument, consisting of three typewritten pages, was executed in our presence by Peter B. Nicklaus, January 9 1965, in the Town of Parkersburg, Butler County Iowa: that he was then and there a person of sound mind and memory; that he declared and published to us this instrument to be his Last Will and Testament and signed the same in our presence and we, at his request in his presence, and in the presence of each other, subscribed our names thereto the day and year hereinabove written. (signed) Klaas Kruger [?] ------------------------- Residing at Parkersburg, Iowa (signed) John E. Behnke [?] ------------------------- Residing at Parkersburg, Iowa