Excerpt
LEASE AGREEMENT
This Lease ("Lease") is made as of
_________________, by and between AGRICULTURAL PROPERTY LANDLORD, INC.,
a __________________ corporation ("Landlord"), and AGREEABLE
AGRICULTURAL TENANT, INC., a _________________ corporation ("Tenant").
R E C I T A L
A. Landlord is the owner of
that certain real property located in _________ County, _________,
consisting of approximately ____ acres, more or less, as more
particularly described on Exhibit "A" attached hereto and incorporated
herein by this reference (the "Property").
B. Landlord desires to lease the Property to Tenant and Tenant desires
to lease the Property from Landlord pursuant to the terms and conditions
contained in this Lease.
NOW, THEREFORE, for valuable consideration, the receipt and adequacy of
which is hereby acknowledged, the parties agree as follows:
1. Leased Premises. Landlord hereby leases to Tenant, and Tenant hereby
leases from Landlord, upon the terms and conditions set forth in this
Lease, the approximately ______ acres of real property described in
Exhibit "A", together with all improvements and structures thereon and
all appurtenant rights thereto, including, without limitation, wells,
pumps, motors, electrical panels, electrical hookups, water discharge
facilities, pipelines, irrigation systems, easements, rights-of-way for
ingress and egress, licenses and water rights and privileges, which
water rights and privileges include, without limitation, any and all
rights such real property may have, or that Landlord may have with
respect to such real property, including any above-ground and
below-ground pipeline, rights, easements, licenses or privileges with
respect to any canal or distribution integration program, to receive
irrigation water from _________ Irrigation District ("Irrigation
District") (collectively, the "Premises").
2. Term. The term of this Lease shall commence on the Effective Date,
and end on ___________ (the "Lease Term").
3. Rent. As and for rental of the Property, Tenant shall pay to Landlord
annually the sum of ________ and No/100 Dollars ($____) per acre, for a
total annual rent of ____________ and No/100 Dollars ($_____). The rent
shall be paid in equal monthly installments of _______________ Dollars
($______) due in arrears on the last day of each month. Tenant shall pay
the rent to Landlord at Landlord's address for notices hereunder or at
such other place as Landlord shall from time to time designate in
writing.
4. Real Property and Water District Taxes and Assessments; Water Costs.
All real estate taxes, assessments or similar levies of any kind and all
water district taxes, assessments or similar levies of any kind levied
against the Property at the inception date of this Lease and assessed or
falling due during the Lease Term shall be paid by Tenant. All such
taxes, assessments or similar levies shall be pro-rated for Tenant's
period of occupancy. All taxes and assessments assessed against or
attributable to improvements placed upon the Property by the Tenant and
Tenant's personal property on the Property, shall be paid by Tenant. The
cost of water, together with any water standby or other charges,
necessary for the adequate and proper irrigation of crops grown on the
Property shall be borne by Tenant.
5. Utilities. Tenant shall pay for all charges for light, power, and all
other services and utilities supplied to the Property during the Lease
Term.
6. Water Supply. Any and all of Landlord's rights to extract any
groundwater beneath the Property, use of any Irrigation District
facilities serving the Property, and any future allocations of
irrigation water from Irrigation District to which the Property might be
entitled during the Term of this Lease are hereby transferred to Tenant
for the Term of this Lease.
7. Compliance with Laws; Waste.
(a) Compliance with Laws. Tenant shall not do or suffer to be done on or
about the Property, anything that would or does violate or conflict with
any law, ordinance, rule or regulation now in force or effect, or that
may hereinafter be enacted, promulgated or adopted by Federal, State or
local authority.
(b) Waste. Tenant shall not commit or suffer to be committed any waste
on the Property (provided that, the use or application of pesticides,
herbicides, sprays or other materials on the Property or on any crops,
in accordance with federal, state or county laws and regulations, shall
not constitute waste). Tenant shall not maintain any nuisance on the
Property, and shall not use the Property for any unlawful purposes.
Landlord and Tenant acknowledge and agree that any and all deterioration
of the Property due to salinity, drainage and related problems or the
use of the Property by Tenant in accordance with normal and customary
agricultural practices does not constitute waste or a nuisance or a
breach of any of the terms of this Lease.
End of Excerpt
