Free Land Lease Agreement for Farming Template
LAND LEASE AGREEMENT FOR FARMING
I. PARTIES AND PURPOSE
This Land Lease Agreement (“Agreement”) is entered into as of the 1st day of January 2050, by and between:
Lessor:
Notable20, a company duly organized and existing under the laws of Missouri, with its principal place of business located at St. Louis, MO 63101, and represented by Jerrell Lowe, whose email address is jerrell@you.mail.
Lessee:
[Your Company Name], a company duly organized and existing under the laws of Missouri, with its principal place of business located at [Your Company Address], and represented by [Your Name], whose email address is [Your Email].
This Agreement governs the lease of land for agricultural purposes between the Lessor and the Lessee under the terms set forth herein.
II. DESCRIPTION OF LEASED PROPERTY
Leased Property:
The Lessor hereby leases to the Lessee, and the Lessee hereby leases from the Lessor, a parcel of land located at:
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Property Address: 456 Agricultural Road, St. Louis, MO 63101
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Size of Property: 100 acres
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Description of Land Use: Agricultural farming, including but not limited to the growing of crops, livestock grazing, and associated activities.
The land is hereby leased for agricultural purposes only and may not be used for any other purpose without the prior written consent of the Lessor.
III. TERM AND TERMINATION
1. Term of Lease
The term of this lease shall commence on the 1st day of January, 2050, and shall continue for a period of five (5) years, expiring on the 31st day of December, 2055, unless otherwise terminated in accordance with the provisions set forth herein.
2. Renewal Option
The Lessee shall have the option to renew this lease for an additional term of five (5) years by providing written notice to the Lessor at least six (6) months prior to the expiration of the current term.
3. Early Termination
Either party may terminate this Agreement prior to the expiration of the term upon providing written notice to the other party at least three (3) months in advance.
IV. RENTAL PAYMENTS AND TERMS
1. Rent Payment
The Lessee shall pay to the Lessor rent for the leased property in the amount of $25,000 per year, due annually on the 1st of January each year.
2. Late Payments
In the event of late payment, the Lessee shall incur a late fee of $500 for each month or part thereof that the payment is delayed.
3. Method of Payment
Payments shall be made via bank transfer or check to the following details:
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Bank Account Name: St. Louis Bank
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Account Number: 123456789
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Bank Routing Number: 987654321
Alternatively, payments may be made by sending a check to [Your Company Name] at [Your Company Address].
V. MAINTENANCE AND IMPROVEMENTS
1. Lessee's Responsibility
The Lessee is responsible for maintaining the leased property in good condition, including all fencing, irrigation systems, and agricultural improvements. The Lessee shall also ensure that all farming activities are conducted in accordance with local and state regulations.
2. Lessor’s Responsibility
The Lessor shall be responsible for maintaining the property’s boundaries and any existing structures that are not directly related to agricultural use.
3. Improvements
Any improvements made by the Lessee to the property must be approved by the Lessor in writing. The Lessor may require the Lessee to remove any improvements at the end of the lease term.
VI. USE OF THE PROPERTY
1. Permitted Use
The property shall be used solely for agricultural purposes, including the growing of crops, raising livestock, and other related farming activities.
2. Restrictions
The Lessee shall not engage in any activities that could cause harm to the environment or violate any applicable laws or regulations. Additionally, the Lessee shall not sublease or assign any interest in the property without prior written consent from the Lessor.
3. Environmental Considerations
The Lessee agrees to implement sustainable farming practices and ensure that all activities are conducted in a manner that does not degrade the environment or soil health.
VII. INSURANCE AND LIABILITY
1. Insurance Coverage
The Lessee shall maintain comprehensive general liability insurance with coverage of at least $1,000,000 to cover any damages or injuries occurring on the leased property during the lease term.
2. Liability
The Lessee agrees to indemnify and hold harmless the Lessor from any claims, damages, or losses arising from the Lessee’s use of the property. The Lessor shall not be liable for any damages to the Lessee’s crops or property except in cases of gross negligence or willful misconduct.
VIII. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the state of Missouri, without regard to its conflict of laws principles.
IX. DISPUTE RESOLUTION
In the event of any dispute arising out of or relating to this Agreement, the parties agree to first attempt to resolve the matter through mediation. If mediation is unsuccessful, the dispute shall be settled by binding arbitration in St. Louis, Missouri.
X. SIGNATURES
By signing below, both parties agree to the terms and conditions of this Land Lease Agreement.
Lessor: Jerrell Lowe
Title: CEO, Notable20
Date: January 1, 2050
Lessee: [Your Name]
Title: CEO, [Your Company Name]
Date: January 1, 2050
For any inquiries or concerns, please contact [Your Name] at [Your Email] or reach out to [Your Company Name] via email at [Your Company Email].
