Document:

Exhibit
10.6

    

    AGREEMENT
TO PROVIDE INSURANCE

    

    
      
        
          
            	
                    Borrower:

                  	 	
                    ART’S-WAY MANUFACTURING COMPANY, INC.

                  	
                    Lender:

                  	 
      	
                    WEST
      BANK

                  
	 
      	 	
                    (TIN:  _________________)

                  	 
      	 
      	
                    MAIN
      BANK

                  
	 
      	 	
                    5556
      HIGHWAY 9 WEST, BOX 288

                  	 
      	 
      	
                    1601
      22ND STREET

                  
	 
      	 	
                    ARMSTRONG,
      IA 50514

                  	 
      	 
      	
                    WEST
      DES MOINES, IA 50266

                  
	 
      	 	
                     

                  	 
      	 
      	      
                    (515)
      222-2300  

                  
	 
      	 	 
      	 
      	 
      	 
      
	
                    Grantor:

                  	 	
                    ART’S-WAY VESSELS, INC. (TIN:  _________________)

                  	  	 
      	 
      
	 
      	 	
                    7010
      CHAVENELLE

                  	 
      	 
      	 
      
	 
      	 	
                    DUBUQUE,
      IA 52001

                  	 
      	 
      	 
      

          

        

      

    

    
       

      
        
          

        

         

      

    

    INSURANCE
REQUIREMENTS.  Grantor, ART’S-WAY VESSELS, INC. (“Grantor”),
understands that insurance coverage is required in connection with the extending
of a loan or the providing of other financial accommodations to ART’S-WAY
MANUFACTURING COMPANY, INC.  (“Borrower) by Lender.  These
requirements are set forth in the security documents for the
loan.  The following minimum insurance coverages must be provided on
the following described collateral (the “Collateral”):

    

    
      
        	
                Collateral:

              	 
      	
                All
      Inventory and Equipment.

              
	 
      	 
      	
                Type:  All
      risks, including fire, theft and liability.

              
	 
      	 
      	
                Amount:  Loan
      Amount.

              
	 
      	 
      	
                Basis:  Replacement
      value.

              
	 
      	 
      	
                Endorsements:  Lender
      loss payable clause with stipulation that coverage will not be cancelled
      or diminished without a minimum of 30 days prior written notice to
      Lender.

              
	 
      	 
      	
                Latest Delivery
      Date:  By the loan closing date.

              
	 
      	 
      	 
      
	
                Collateral:

              	 
      	
                7010
      CHAVENELLE, DUBUQUE, IA 52001.

              
	 
      	 
      	
                Type:  Fire
      and extended coverage.-

              
	 
      	 
      	
                Amount:  Loan
      Amount.

              
	 
      	 
      	
                Basis:  Replacement
      value.

              
	 
      	 
      	
                Endorsements:  Standard
      mortgagee’s clause with stipulation that coverage will not be cancelled or
      diminished without a minimum of 30 days prior written notice to Lender,
      and without disclaimer of the insurer’s liability for failure to give such
      notice.

              
	 
      	 
      	
                Latest Delivery
      Date:  By the loan closing
  date.

              

      

    

    

    INSURANCE
COMPANY.  Grantor may obtain insurance from any insurance
company Grantor may choose that is reasonably acceptable to
Lender.  Grantor understands that credit may not be denied solely
because insurance was not purchased through Lender.

    

    FLOOD
INSURANCE.  Flood Insurance for the Collateral securing this
loan is described as follows:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Real Estate at 7010 CHAVENELLE,
DUBUQUE, IA 52001.

    Should
the Collateral at any time be deemed to be located in an area designated by the
Director of the Federal Emergency Management Agency as a special flood hazard
area.  Grantor agrees to obtain and maintain Federal Flood Insurance,
if available, for the full unpaid principal balance of the loan and any prior
liens on the property securing the loan, up to the maximum policy limits set
under the National Flood Insurance Program, or as otherwise required by Lender,
and to maintain such insurance for the term of the loan.  Flood
insurance may be purchased under the National Flood Insurance Program or from
private insurers.

    

    INSURANCE MAILING
ADDRESS.  All documents and other materials relating to
insurance for this loan should be mailed, delivered or directed to the following
address:

    

    WEST
BANK

    P.O. BOX
65020

    WEST DES
MOINES, IA 50265

    

    FAILURE TO PROVIDE
INSURANCE.  Grantor agrees to deliver to Lender, on the latest
delivery date stated above, proof of the required insurance as provided above,
with an effective date of June 8, 2009, or earlier.  Grantor
acknowledges and agrees that if Grantor fails to provide any required insurance
or fails to continue such insurance in force, Lender may do so at Grantor’s
expense as provided in the applicable security document.  The cost of
any such insurance, at the option of Lender, shall be added to the indebtedness
as provided in the security document.  GRANTOR ACKNOWLEDGES THAT IF
LENDER SO PURCHASES ANY SUCH INSURANCE, THE INSURANCE WILL PROVIDE LIMITED
PROTECTION AGAINST PHYSICAL DAMAGE TO THE COLLATERAL, UP TO AN AMOUNT EQUAL TO
THE LESSER OF (1) THE UNPAID BALANCE OF THE DEBT, EXCLUDING ANY UNEARNED FINANCE
CHARGES, OR (2) THE VALUE OF THE COLLATERAL; HOWEVER, GRANTOR’S EQUITY IN THE
COLLATERAL MAY NOT BE INSURED.  IN ADDITION, THE INSURANCE MAY NOT
PROVIDE ANY PUBLIC LIABILITY OR PROPERTY DAMAGE INDEMNIFICATION AND MAY NOT MEET
THE REQUIREMENTS OF ANY FINANCIAL RESPONSIBILITY LAWS.

    

    AUTHORIZATION.  For
purposes of insurance coverage on the Collateral, Grantor authorizes Lender to
provide to any person (including any insurance agent or company) all information
Lender deems appropriate, whether regarding the Collateral, the loan or other
financial accommodations, or both.

    

    GRANTOR
ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS AGREEMENT TO PROVIDE INSURANCE
AND ALL OTHER DOCUMENTS RELATING TO THIS DEBT.

    

    GRANTOR
ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS AGREEMENT TO PROVIDE
INSURANCE AND AGREES TO ITS TERMS.  THIS AGREEMENT IS DATED JUNE 8,
2009.

    
      
         

      

      
        - 2
-

        
          

        

      

      
         

      

    

    

    
      
        	
                GRANTOR:

              
	 
      
	
                ART’S-WAY
      VESSELS, INC.

              
	 
      	 
      
	
                By:

              	
                /s/ Carrie L. Majeski

              
	 
      	
                CARRIE
      L. MAJESKI, PRESIDENT of ART’S-WAY

              
	 
      	
                VESSELS,
      INC.

              

      

    

     

    
      

    

    
      
        	 
      	
                FOR
      LENDER USE ONLY

              	 
      
	
                DATE:
      __________

              	
                INSURANCE
      VERIFICATION

              	
                PHONE__________

              

      

    

    

    
      
        	
                AGENT’S NAME:   

              	 
      

      

    

    
      
        
          	
                  AGENCY:   

                	 
      

        

      

    

    
      
        
          	
                  ADDRESS:   

                	 
      

        

      

    

    
      
        
          	
                  INSURANCE COMPANY:   

                	 
      

        

      

    

    
      
        
          	
                  POLICY NUMBER:   

                	 
      

        

      

    

    
      
        
          
            
              	
                      EFFECTIVE DATES:   

                    	 
      
	 	 

            

          

        

      

    

    
      
        
          	
                  COMMENTS:   

                	 
      

        

      

    

    
      
 

    
      
         

      

      
        - 3
-

        
          

        

      

      
         

      

    

    

    AGREEMENT
TO PROVIDE INSURANCE

    (Continued)

     

    
      
        

      

      
        
          	 
      	
                  FOR
      LENDER USE ONLY

                	 
      
	
                  DATE:
      __________

                	
                  INSURANCE
      VERIFICATION

                	
                  PHONE__________

                

        

      

      

      
        
          	
                  AGENT’S NAME:   

                	 
      

        

      

      
        
          
            	
                    AGENCY:   

                  	 
      

          

        

      

      
        
          
            	
                    ADDRESS:   

                  	 
      

          

        

      

      
        
          
            	
                    INSURANCE COMPANY:   

                  	 
      

          

        

      

      
        
          
            	
                    POLICY NUMBER:   

                  	 
      

          

        

      

      
        
          
            
              
                	
                        EFFECTIVE DATES:   

                      	 
      
	 	 

              

            

          

        

      

      
        
          
            	
                    COMMENTS:   

                  	 
      

          

        

      

    

    

    
      
         

      

      
        - 4
-Exhibit
10.7

    

    AGREEMENT
TO PROVIDE INSURANCE

    

    
      
        
          	
                  Borrower:

                	 
      	
                  ART’S-WAY MANUFACTURING COMPANY, INC.

                	
                  Lender:

                	 
      	
                  WEST
      BANK

                
	 
      	 
      	
                  (TIN:  _________________)

                	 
      	 
      	
                  MAIN
      BANK

                
	 
      	 
      	
                  5556
      HIGHWAY 9 WEST, BOX 288

                	 
      	 
      	
                  1601
      22ND STREET

                
	 
      	 
      	
                  ARMSTRONG,
      IA 50514

                	 
      	 
      	
                  WEST
      DES MOINES, IA 50266

                
	 
      	 
      	
                   

                	 
      	 
      	      
                  (515)
      222-2300  

                
	 
      	 
      	
                  ART’S-WAY SCIENTIFIC, INC. (TIN:  _________________)

                	 
      	 
      	 
      
	 
      	 
      	
                  203
      OAK ST

                	 
      	 
      	 
      
	 
      	 
      	
                  MONONA,
      IA 52159

                	 
      	 
      	 
      

        

      

    

    
      

    

    
      
        

      

    INSURANCE
REQUIREMENTS.  Grantor, ARTS-WAY SCIENTIFIC,
INC.  (“Grantor”), understands that insurance coverage is required in
connection with the extending of a loan or the providing of other financial
accommodations to ARTS-WAY MANUFACTURING COMPANY, INC.  (“Borrower) by
Lender.  These requirements are set forth in the security documents
for the loan.  The following minimum insurance coverages must be
provided on the following described collateral (the “Collateral”):

    

    
      
        
          	
                  Collateral:

                	 
      	
                  All
      Inventory and Equipment.

                
	 
      	 
      	
                  Type:  All
      risks, including fire, theft and liability.

                
	 
      	 
      	
                  Amount:  Loan
      Amount,

                
	 
      	 
      	
                  Basis:  Replacement
      value.

                
	 
      	 
      	
                  Endorsements:  Lender
      loss payable clause with stipulation that coverage will not be cancelled
      or diminished without a minimum of 30 days prior written notice to
      Lender.

                
	 
      	 
      	
                  Latest Delivery
      Date:  By the loan closing date.

                
	 
      	 
      	 
      
	
                  Collateral:

                	 
      	
                  203
      OAK STREET, MONONA, IA 52159.

                
	 
      	 
      	
                  Type:  Fire
      and extended coverage.

                
	 
      	 
      	
                  Amount:  Loan
      Amount.

                
	 
      	 
      	
                  Basis:  Replacement
      value.

                
	 
      	 
      	
                  Endorsements:  Standard
      mortgagee’s clause with stipulation that coverage will not be cancelled or
      diminished without a minimum of 30 days prior written notice to Lender,
      and without disclaimer of the insurer’s liability for failure to give such
      notice.

                
	 
      	 
      	
                  Latest Delivery
      Date:  By the loan closing
  date.

                

        

      

    

    

    INSURANCE
COMPANY.  Grantor may obtain insurance from any insurance
company Grantor may choose that is reasonably acceptable to
Lender.  Grantor understands that credit may not be denied solely
because insurance was not purchased through Lender.

    

    FLOOD
INSURANCE.  Flood insurance for the Collateral securing this
loan is described as follows:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Real Estate at 203 OAK STREET,
MONONA, IA 52159.

    Should
the Collateral at any time be deemed to be located in an area designated by the
Director of the Federal Emergency Management Agency as a special flood hazard
area.  Grantor agrees to obtain and maintain Federal Flood Insurance,
if available, for the full unpaid principal balance of the loan and any prior
liens on the property securing the loan, up to the maximum policy limits set
under the National Flood Insurance Program, or as otherwise required by Lender,
and to maintain such insurance for the term of the loan.  Flood
insurance may be purchased under the National Flood Insurance Program or from
private insurers.

    

    INSURANCE MAILING
ADDRESS.  All documents and other materials relating to
insurance for this loan should be mailed, delivered or directed to the following
address:

    

    WEST
BANK

    P.O. BOX
65020

    WEST DES
MOINES, IA 50265

    

    FAILURE TO PROVIDE
INSURANCE.  Grantor agrees to deliver to Lender, on the latest
delivery date stated above, proof of the required insurance as provided above,
with an effective date of June 8, 2009, or earlier.  Grantor
acknowledges and agrees that if Grantor fails to provide any required insurance
or fails to continue such insurance in force, Lender may do so at Grantor’s
expense as provided in the applicable security document.  The cost of
any such insurance, at the option of Lender, shall be added to the indebtedness
as provided in the security document.  GRANTOR ACKNOWLEDGES THAT IF
LENDER SO PURCHASES ANY SUCH INSURANCE, THE INSURANCE WILL PROVIDE LIMITED
PROTECTION AGAINST PHYSICAL DAMAGE TO THE COLLATERAL, UP TO AN AMOUNT EQUAL TO
THE LESSER OF (1) THE UNPAID BALANCE OF THE DEBT, EXCLUDING ANY UNEARNED FINANCE
CHARGES, OR (2) THE VALUE OF THE COLLATERAL; HOWEVER, GRANTOR’S EQUITY IN THE
COLLATERAL MAY NOT BE INSURED.  IN ADDITION, THE INSURANCE MAY NOT
PROVIDE ANY PUBLIC LIABILITY OR PROPERTY DAMAGE INDEMNIFICATION AND MAY NOT MEET
THE REQUIREMENTS OF ANY FINANCIAL RESPONSIBILITY LAWS.

    

    AUTHORIZATION.  For
purposes of insurance coverage on the Collateral, Grantor authorizes Lender to
provide to any person (including any insurance agent or company) all information
Lender deems appropriate, whether regarding the Collateral, the loan or other
financial accommodations, or both.

    

    GRANTOR
ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS AGREEMENT TO PROVIDE INSURANCE
AND ALL OTHER DOCUMENTS RELATING TO THIS DEBT.

    

    GRANTOR
ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS AGREEMENT TO PROVIDE
INSURANCE AND AGREES TO ITS TERMS.  THIS AGREEMENT IS DATED JUNE 8,
2009.

    
      
         

      

      
        - 2
-

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              	
                      GRANTOR:

                    
	 
      
	
                      ART’S-WAY
      SCIENTIFIC, INC.

                    
	 
      	 
      	 
      
	
                      By:

                    	
                      /s/ Carrie L. Majeski

                    	 
      
	 
      	
                      CARRIE
      L. MAJESKI, PRESIDENT of ART’S-WAY

                    
	 
      	
                      SCIENTIFIC,
      INC.

                    	 
      

            

          

        

      

    

     

    
      

    

    
      
        
          	 
      	
                  FOR
      LENDER USE ONLY

                	 
      
	
                  DATE:
      __________

                	
                  INSURANCE
      VERIFICATION

                	
                  PHONE__________

                

        

      

      

      
        
          	
                  AGENT’S NAME:   

                	 
      

        

      

      
        
          
            	
                    AGENCY:   

                  	 
      

          

        

      

      
        
          
            	
                    ADDRESS:   

                  	 
      

          

        

      

      
        
          
            	
                    INSURANCE COMPANY:   

                  	 
      

          

        

      

      
        
          
            	
                    POLICY NUMBER:   

                  	 
      

          

        

      

      
        
          
            
              
                	
                        EFFECTIVE DATES:   

                      	 
      
	 	 

              

            

          

        

      

      
        
          
            	
                    COMMENTS:   

                  	 
      

          

        

      

    

    

    
      
         

      

      
        - 3
-

        
          

        

      

      
         

      

    

    

    AGREEMENT
TO PROVIDE INSURANCE

    (Continued)

    
       

      
        

      

      
        
          	 
      	
                  FOR
      LENDER USE ONLY

                	 
      
	
                  DATE:
      __________

                	
                  INSURANCE
      VERIFICATION

                	
                  PHONE__________

                

        

      

      

      
        
          	
                  AGENT’S NAME:   

                	 
      

        

      

      
        
          
            	
                    AGENCY:   

                  	 
      

          

        

      

      
        
          
            	
                    ADDRESS:   

                  	 
      

          

        

      

      
        
          
            	
                    INSURANCE COMPANY:   

                  	 
      

          

        

      

      
        
          
            	
                    POLICY NUMBER:   

                  	 
      

          

        

      

      
        
          
            
              
                	
                        EFFECTIVE DATES:   

                      	 
      
	 	 

              

            

          

        

      

      
        
          
            	
                    COMMENTS:   

                  	 
      

          

        

      

    

    

    
      
         

      

      
        - 4
-

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