"Farm Lease Agreement Template"

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FARM LEASE AGREEMENT
A.
NAMES OF PARTIES AND DESCRIPTION OF PROPERTY
This lease is entered into the
day of
,
, between
__________________ landowner, of
(address) and
, tenant of
(address) hereinafter
called the landowner and tenant respectively. Under the terms and conditions that follow, the landowner
hereby leases to the tenant a farm to use for agricultural purposes of approximately
acres,
situated at County of
State of
, commonly known as or described as
follows:
B.
TERM OF LEASE
The term of this lease shall be from
, (year),
to
,
(year)
, and the tenant shall surrender possession at the end of the term or at the end of any
extension thereof. Extensions must be placed in writing on this lease, and both parties agree that failure
to execute an extension at least
months before the end of the current term shall be
constructive notice of an intent to allow the lease to expire.
Amendments and alterations to this lease may be made in writing in the space provided on the back of
this form at any time by mutual agreement. In the event of failure to agree on a proposed alteration, the
existing provisions of the lease shall control operations.
C.
RENTAL RATES AND ARRANGEMENTS (Select appropriate option)
Option 1. Rent
a.
As rent or partial rent for the farm, the tenant agrees to pay the total sum of
dollars ($
) per year. This represents acres and rates per acre as stated in the
table below.
CROP
ACRES
RENT/ACRE $
TOTAL $
TOTAL
FARM LEASE AGREEMENT
A.
NAMES OF PARTIES AND DESCRIPTION OF PROPERTY
This lease is entered into the
day of
,
, between
__________________ landowner, of
(address) and
, tenant of
(address) hereinafter
called the landowner and tenant respectively. Under the terms and conditions that follow, the landowner
hereby leases to the tenant a farm to use for agricultural purposes of approximately
acres,
situated at County of
State of
, commonly known as or described as
follows:
B.
TERM OF LEASE
The term of this lease shall be from
, (year),
to
,
(year)
, and the tenant shall surrender possession at the end of the term or at the end of any
extension thereof. Extensions must be placed in writing on this lease, and both parties agree that failure
to execute an extension at least
months before the end of the current term shall be
constructive notice of an intent to allow the lease to expire.
Amendments and alterations to this lease may be made in writing in the space provided on the back of
this form at any time by mutual agreement. In the event of failure to agree on a proposed alteration, the
existing provisions of the lease shall control operations.
C.
RENTAL RATES AND ARRANGEMENTS (Select appropriate option)
Option 1. Rent
a.
As rent or partial rent for the farm, the tenant agrees to pay the total sum of
dollars ($
) per year. This represents acres and rates per acre as stated in the
table below.
CROP
ACRES
RENT/ACRE $
TOTAL $
TOTAL
The rent shall be the amount stated above but adjusted annually after the first year in the
following manner:
(optional):
b.
The rent shall be paid as follows: The total rent shall be paid on
of each year,
or
percent of the total annual rent shall be paid on
, with the remainder
to be paid on
. If neither of these two arrangements is satisfactory the annual rent
will be paid in the following manner:
Option 2. Crop-Share Rent
a.
The landowner and tenant agree to share in the crop expenses and share in the crop(s) in the
following proportions:
Crop
# of Acres
Landowner
Tenant
Landowner
Tenant
Landowner
Tenant
Landowner
Tenant
Landowner
Tenant
(%)
(%)
(%)
(%)
(%)
(%)
(%)
(%)
(%)
(%)
Share of Crop Expenses
Seed
Fertilizer
Lime
Insecticide
Fungicide
Herbicide
Other
Share of Crop(s)
b.
Records of all expenses and yields will be kept by the tenant and shall be available to the
landowner upon request.
c.
U.S.D.A. farm program payments will be shared in the following manner:
D.
CONSERVATION PRACTICES
Tenant agrees to keep in good repair all terraces, open ditches, inlets and outlets of tile drains; preserve
all established watercourses or ditches including grassed waterways, and refrain from any operations or
practice that will injure such structures. The tenant agrees to remain in compliance with the conservation
plan of the farm.
Additional agreements regarding conservation practices (such as rotations, contouring, and
stripcropping).
E.
COMPENSATION TO TENANT FOR UNUSED VALUE OF IMPROVEMENTS
At termination of lease, the tenant shall be entitled to payment for the unused value of his or her
contribution to the cost of improvements made with the landowner’s consent according to the following
schedule:
Proportion (%) Remaining After
Improvement
1 Year
2 Years
3 Years
4 Years
5 Years
Lime
F.
IMPROVEMENTS AND REPAIRS:
G.
PROPERTY RIGHTS:
1. Right of Entry - The landowner reserves the right for them, their agents, their employees, or their
assigns to enter the farm at any reasonable time for purposes of: (a) consultation with the tenant; (b)
making repairs, improvements, and inspection; (c) developing mineral resources; and (d) after notice of
termination of the lease is given, for purposes of plowing, seeding, fertilizing, and such customary
seasonal work, none of which is to interfere with the tenant in carrying out regular farm operations.
2. Transfer of Farm - If the landowner should sell or otherwise transfer title to the farm, he or she will
do so subject to the provisions of this lease.
3. No Right to Sublease - The landowner does not convey to the tenant the right to lease or sublease any
part of the farm or to assign the lease to any person or persons, unless prior approval is obtained from the
landowner.
4. Heirs and Successors - The terms of this lease shall be binding upon the heirs, executors,
administrators, and successors of both landowner and tenant in like manner as upon the original parties.
However, in event the lease is for more than one year, the heirs or successors of the tenant shall have the
option to give written notice of termination effective at the end of the lease year in which death occurs.
5. Additional agreements regarding property rights:
a. Crop Residue Grazing:
b. Fishing:
c. Forestry Land:
d. Hunting:
e. Recreation:
H.
NON PARTNERSHIP
This lease does not give rise to a partnership. Neither party shall have the authority to bind the other
without written consent. Neither party shall be liable for debts or obligations incurred by the other
without written consent.
I.
ARBITRATION
If parties to this lease cannot reach an agreement on any matter, or problem, the question shall be
submitted to an Arbitration Committee for decision. This committee shall be composed of three
disinterested persons, one selected by each party hereto and the third by the two thus selected. The
decision of the Arbitration Committee shall be accepted by both parties.
J.
DEFAULT
If either party willfully neglects or refuses to carry out any provision, the other party shall have the
right, in addition to compensation for damages, to terminate the lease. He or she shall do so by written
notice on the party at fault, specifying the violations of the agreement. If violations are not corrected
within 30 days, the lease shall be terminated.
K.
ADDITIONAL AGREEMENTS:
Signed
(year)
Landowner
Tenant
Notary Public
LEASE EXTENSION
This lease shall be extended from (date)
, (year)
, to
,
(year)
.
Date Signed:
Landowner:
Tenant:
Notary Public:
AMENDMENT TO THE LEASE
This amendment shall be extended from (date)
, (year)
, to
,
(year)
.
Date Signed:
Landowner:
Tenant:
Notary Public: