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Farm Lease

Farm Lease



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Published by Legal Forms

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Published by: Legal Forms on Jan 19, 2008
Copyright:Attribution Non-commercial


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Farm Lease
made as of [Date of Lease] between
[Name of Landlord]
, of [Address of Landlord] (the “Landlord”) and
[Name of Tenant/Farmer]
, of [Address of Tenant/Farmer] (the“Tenant”).
of the mutual covenants contained herein, the Landlord and Tenanthereby agree as follows:1.
. The Landlord hereby leases to the Tenant and the Tenant hereby leases from theLandlord the property municipally known as [Address of Property] and described as a [sizeof the property in acres or hectares (ie. 23)] acres (the "Land"), as outlined in red in thesketch attached hereto as Schedule "A", together with the building(s) located thereon,including all alterations and additions thereto and replacements thereof (the "Building")(the Land and the Building being collectively referred to as the "Leased Premises"), to haveand to hold during the period (the "Term") commencing on [Commencement Date of Lease(ie. July 1, 2002)] (the "Commencement Date") and ending on [Date on which Term of Lease Expires (ie. June 30, 2007)] (the "Termination Date"), subject to the terms andconditions of this Lease.2.
. The Tenant shall pay to the Landlord, during each year of the Term, as rent for theLeased Premises the [Annual Base Rent (ie. $24,000.00)] (the "Minimum Rent"), inadvance and without notice or demand in monthly installments commencing on theCommencement Date. The Tenant shall also pay to the Landlord all other amounts payable by the Tenant to the Landlord or to be discharged as Rent under this Lease (the "AdditionalRent") at the times and in the manner provided in this Lease or, if not so provided, asreasonably required by the Landlord. If the Commencement Date is not the first day of acalendar month, Rent for the period from the Commencement Date to the first day of thenext calendar month shall be pro-rated on a per diem basis and paid on the CommencementDate and thereafter all subsequent monthly installments of Rent shall be paid in advance onthe first day of each calendar month. All amounts payable by the Tenant to the Landlord pursuant to this Lease shall be deemed to be Rent and shall be payable and recoverable asRent in the manner herein provided and the Landlord shall have all rights against the Tenantfor default in any such payment as in the case of arrears of rent.3.
Net Lease
. It is the intent of the Landlord and the Tenant that this Lease shall be fully netto the Landlord.4.
Landlord’s Covenants
. The Landlord covenants with the Tenant:(a)for quiet enjoyment of the Leased Premises; and(b)to observe and perform all the covenants and obligations of the Landlord herein.5.
Tenant’s Covenants
. The Tenant covenants with the Landlord:
(a)to pay all amounts payable by the Tenant to the Landlord under this Lease(collectively the "Rent");(b)to observe and perform all the covenants and obligations of the Tenant herein;(c)to use the Leased Premises only for the purpose of farming legal crops on the Landand any and all uses ancillary thereto;(d)to comply with present and future laws, regulations and orders relating to theoccupation or use of the Leased Premises;(e)not to do, omit to do or permit to be done anything which will cause or shall havethe effect of causing the cost of the Landlord’s insurance in respect of the LeasedPremises to be increased at any time during the Term or any policy of insurance onor relating to the Leased Premises to be subject to cancellation.(f)to assume full responsibility for the operation and maintenance of the LeasedPremises and for the repair or replacement of all fixtures or chattels located thereinor thereon.(g)to permit the Landlord to enter the Leased Premises at any time outside normal business hours in case of an emergency and otherwise during normal business hourswhere such will not unreasonably disturb or interfere with the Tenant’s use of theLeased Premises or operation of its business, to examine, inspect and show theLeased Premises for purposes of leasing, sale or financing, to provide services or make repairs, replacements, changes or alterations as provided for in this Lease andto take such steps as the Landlord may deem necessary for the safety, improvementor preservation of the Leased Premises.(h)to take out and maintain, in the name of the Landlord its agents and employees, theTenant and each mortgagee of the Leased Premises as their interests may appear, allrisks property insurance with coverage for the full replacement cost value of theLeased Premises, insurance upon property of every description owned by theTenant or for which the Tenant is legally liable, comprehensive broad form boiler insurance, comprehensive public liability and broad form property damage insurancewith limits of not less than $2,000,000 per occurrence, any other form or forms of insurance as the Landlord may reasonably require, and rental interruption insurancecovering a period of at least 12 months payable to the Landlord as the namedinsured. All insurance policies required under this provision shall provide for awaiver of subrogation against the Landlord or those for whom it is in lawresponsible. The Tenant shall provide the Landlord with certified copies of eachsuch insurance policy on or before the Commencement Date.(i)to promptly pay and discharge all charges, rates, assessments and levies for heat,water, gas, hydro, sewage, and all other utilities supplied to or consumed in theLeased Premises;Page 2
(j)to promptly pay and discharge all taxes, levies, duties, assessments, andlicense fees whatsoever whether municipal, school, provincial, parliamentary or otherwise levied, imposed or assessed against the Leased Premises or upon theLandlord in respect thereof, or from time to time levied, imposed or assessed in thefuture in lieu thereof, including those levied, imposed or assessed for education,school and local improvements, or other similar taxes imposed upon the Landlordor the Tenant and including all goods and services taxes, sale taxes, value-addedtaxes, and any other taxes imposed on the Landlord with respect to this Lease, theservices provided hereunder or the Rent (collectively the "Value Taxes"), businesstaxes, if any, and realty taxes from time to time payable by the Landlord or leviedagainst the Landlord on account of its ownership or operation of the LeasedPremises;(k)to pay and discharge as Rent the cost of all heating, cooling, ventilating and air conditioning required in the Leased Premises and the cost of all repairs,replacements and improvements to the heating, ventilating, air conditioning andother service and utility systems;(l)to maintain the Leased Premises and all improvements therein in good order andcondition;(m)to maintain the fences on the Leased Premises;(n)to cut or spray the weeds along the fences and to carry out and perform all actsrequired to be done under any Act or by regulations or by-laws with respect toweed and insect control;(o)that no live trees on the Leased Premises will be cut and no crop residue such asstraw or cornstalks will be burnt without the prior written permission of theLandlord;(p)not to remove sand, gravel, topsoil or minerals from the Leased Premises;(q)to pay all of the costs and expenses associated with the Tenants obligations directlyto the appropriate party as they come due and shall, at the Landlord’s request, provide the Landlord with copies of receipts or other proof acceptable to theLandlord that such costs have been paid. If the Tenant fails to perform anyobligation under this Lease or to pay any costs and expenses as set out herein, theLandlord may at its sole option and discretion, on seven (7) days written notice tothe Tenant, perform such obligation or pay such amounts on behalf of the Tenantand the Tenant shall forthwith upon receipt of an invoice therefor reimburse theLandlord for the cost of such action or the amount of such payment.6.
Alterations by Tenant
. The Tenant may from time to time at its own expense makechanges, additions and improvements to the Leased Premises to better adapt the same to its business, provided that any change, addition or improvement shall be made only after obtaining written consent of the Landlord, and shall be carried out in a good andworkmanlike manner and only by persons selected by the Tenant and reasonably approvedPage 3

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