If you`re looking to lease farm land, it`s important to have a legally binding agreement in place to ensure that both you and the landowner are protected. A farm land lease agreement is a document that outlines the terms of the lease, including the responsibilities of both parties, rent payments, and the duration of the lease.
To help you get started, we`ve compiled a farm land lease agreement sample that you can use as a starting point for your own agreement.
Farm Land Lease Agreement
This lease agreement is made and entered into on [date] by and between [landowner`s name and address] (hereinafter referred to as “Landowner”) and [tenant`s name and address] (hereinafter referred to as “Tenant”).
Landowner hereby leases to Tenant the following property (hereinafter referred to as “Property”): [description of property, including address and any boundaries].
The lease shall be for a period of [duration of lease] beginning on [start date] and ending on [end date]. The lease may be renewed upon agreement of both parties.
Tenant shall pay rent in the amount of [rent amount] per [rent period], payable on [due date]. Rent payments shall be made to [name and address of person receiving payments]. If the rent is not paid in a timely manner, Landowner reserves the right to terminate the lease.
5. Use of Property
Tenant shall use the Property only for [intended use]. Tenant shall maintain the Property in a good and safe condition, and shall not commit waste or allow others to do so. Tenant shall comply with all laws, ordinances, and regulations applicable to the use of the Property.
6. Repairs and Maintenance
Tenant shall be responsible for all repairs and maintenance required during the lease period, unless such repairs are the result of normal wear and tear. Tenant shall promptly notify Landowner of any repairs that are required.
Tenant shall maintain liability insurance for the Property in the amount of [insurance amount], naming Landowner as an additional insured party. Tenant shall provide proof of insurance to Landowner upon request.
Either party may terminate the lease upon [termination notice period] days` written notice prior to the end of the lease period. If Tenant violates any of the terms of this agreement, Landowner may terminate the lease immediately.
9. Governing Law
This agreement shall be governed by and construed in accordance with the laws of the state of [state].
10. Entire Agreement
This agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements between the parties. This agreement may not be amended except in writing signed by both parties.
In conclusion, a farm land lease agreement is an essential document that ensures both parties are protected in the event of any disputes or misunderstandings. While this sample agreement can be used as a starting point, it`s important to consult with a legal professional to ensure that your specific needs are addressed.