Free Agriculture Lease Agreement

This Agriculture Lease Agreement ("Agreement") is made and entered into as of this 5th day of January, 2050, by and between [Your Company Name], a [State] corporation with its principal office located at [Your Company Address] ("Lessor"), and [Lessee's Name], a [State] individual/corporation/partnership with its principal office located at [Lessee's Address] ("Lessee").

Recitals

Whereas, Lessor is the owner of certain agricultural land and equipment suitable for farming activities;

Whereas, Lessee desires to lease from Lessor certain agricultural land and equipment for the purpose of engaging in agricultural operations;

Whereas, Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor, the agricultural land and equipment upon the terms and conditions set forth in this Agreement;

Now, Therefore, in consideration of the mutual covenants and promises herein contained, the parties agree as follows:

1. Lease of Agricultural Land and Equipment

1.1 Description of Land and Equipment

Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the following described agricultural land and equipment (collectively, the "Leased Property"):

• Land: Approximately [Number] acres of agricultural land located at [Location], legally described as [Legal Description of Property].

• Equipment: The agricultural equipment listed in Exhibit A attached hereto and incorporated herein by reference.

1.2 Purpose

The Leased Property shall be used by Lessee solely for agricultural purposes, including but not limited to, the cultivation of crops and the raising of livestock.

1.3 Term

The term of this Lease shall commence on January 5, 2050, and continue for a period of [Number] years/months, unless terminated earlier in accordance with the provisions of this Agreement.

2. Rent

2.1 Rent Amount

Lessee shall pay to Lessor as rent for the Leased Property the sum of $[Amount] per [month/year], payable in advance on the first day of each [month/year] during the term of this Lease.

2.2 Payment Method

All rent payments shall be made by Lessee to Lessor in lawful money of the United States by [check/bank transfer] to the following account or address: [Payment Details].

2.3 Late Payment

In the event any rent payment is not received by Lessor within [Number] days after its due date, Lessee shall pay to Lessor a late fee of $[Amount] plus interest at the rate of [Percentage]% per annum on the overdue amount from the due date until the date of payment.

3. Maintenance and Repairs

3.1 Lessee's Responsibilities

Lessee shall, at its sole expense, maintain the Leased Property in good condition and repair, reasonable wear and tear excepted. This includes, but is not limited to, routine maintenance, repairs, and upkeep of the land, buildings, and equipment.

3.2 Lessor's Responsibilities

Lessor shall be responsible for major structural repairs to buildings and permanent fixtures on the Leased Property, provided such repairs are not necessitated by the negligence or misconduct of Lessee, its employees, or agents.

3.3 Alterations

Lessee shall not make any alterations, additions, or improvements to the Leased Property without the prior written consent of Lessor. Any alterations, additions, or improvements made by Lessee shall become the property of Lessor upon the expiration or termination of this Lease.

4. Insurance

4.1 Lessee's Insurance

Lessee shall, at its sole expense, obtain and maintain throughout the term of this Lease the following insurance policies:

• Property Insurance: Insuring the Leased Property against loss or damage by fire, theft, vandalism, and other risks commonly insured against in an amount not less than the full replacement value of the Leased Property.

• Liability Insurance: Insuring against liability for injury to persons or property occurring on or about the Leased Property with a minimum coverage of $[Amount] per occurrence and $[Amount] in the aggregate.

4.2 Lessor's Insurance

Lessor shall, at its own expense, maintain insurance coverage for the Leased Property against loss or damage by fire, theft, vandalism, and other risks commonly insured against in an amount not less than the full replacement value of the Leased Property.

4.3 Proof of Insurance

Upon request, Lessee shall provide Lessor with certificates of insurance evidencing the required coverage and naming Lessor as an additional insured.

5. Taxes and Utilities

5.1 Property Taxes

Lessor shall be responsible for payment of all real property taxes and assessments levied against the Leased Property.

5.2 Personal Property Taxes

Lessee shall be responsible for payment of all personal property taxes and assessments levied against the equipment and other personal property located on the Leased Property.

5.3 Utilities

Lessee shall be responsible for payment of all utility services, including but not limited to, water, electricity, gas, and telephone services, provided to the Leased Property during the term of this Lease.

6. Indemnification

6.1 Lessee's Indemnity

Lessee shall indemnify, defend, and hold harmless Lessor and its officers, directors, employees, and agents from and against any and all claims, liabilities, losses, damages, costs, and expenses (including reasonable attorneys' fees) arising out of or in connection with Lessee's use of the Leased Property or any breach of this Agreement by Lessee.

6.2 Lessor's Indemnity

Lessor shall indemnify, defend, and hold harmless Lessee and its officers, directors, employees, and agents from and against any and all claims, liabilities, losses, damages, costs, and expenses (including reasonable attorneys' fees) arising out of or in connection with any breach of this Agreement by Lessor.

7. Default and Remedies

7.1 Events of Default

The following events shall constitute an event of default by Lessee:

• Failure to Pay Rent: Lessee fails to pay any rent or other amounts due under this Lease within [Number] days after written notice from Lessor.

• Breach of Covenants: Lessee breaches any covenant, agreement, or obligation under this Lease and fails to cure such breach within [Number] days after written notice from Lessor.

• Insolvency: Lessee becomes insolvent, files for bankruptcy, or makes an assignment for the benefit of creditors.

7.2 Remedies

Upon the occurrence of an event of default, Lessor may, at its option, exercise any or all of the following remedies:

• Terminate Lease: Terminate this Lease and repossess the Leased Property.

• Recover Damages: Recover from Lessee all damages incurred by Lessor as a result of the default, including reasonable attorneys' fees.

• Continue Lease: Continue this Lease and recover rent and other amounts as they become due.

8. Termination

8.1 Termination by Lessor

Lessor may terminate this Lease upon [Number] days' written notice to Lessee in the event of any default by Lessee that is not cured within the applicable cure period.

8.2 Termination by Lessee

Lessee may terminate this Lease upon [Number] days' written notice to Lessor in the event of any default by Lessor that is not cured within the applicable cure period.

8.3 Surrender of Property

Upon termination or expiration of this Lease, Lessee shall surrender the Leased Property to Lessor in the same condition as received, reasonable wear and tear excepted.

9. Miscellaneous

9.1 Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of laws principles.

9.2 Entire Agreement

This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements, understandings, and representations, whether oral or written, with respect to the subject matter hereof.

9.3 Amendments

This Agreement may not be amended or modified except in writing signed by both parties.

9.4 Waiver

No waiver of any breach of this Agreement shall be deemed a waiver of any subsequent breach. The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver of such provision or any other provision.

9.5 Severability

If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be deemed severed from this Agreement and the remaining provisions shall remain in full force and effect.

9.6 Notices

All notices required or permitted under this Agreement shall be in writing and shall be deemed given when delivered personally, sent by certified mail, return receipt requested, or sent by a recognized overnight courier service to the addresses set forth above or to such other address as either party may designate by notice to the other party.

9.7 Successors and Assigns

This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, provided that Lessee may not assign this Agreement without the prior written consent of Lessor.

IN WITNESS WHEREOF, the parties hereto have executed this Agriculture Lease Agreement as of the day and year first above written.

[Your Company Name]

By:

Name: [Your Name]
Title: [Your Title]

[Lessee's Name]

By:

Name: [Lessee's Name]
Title: [Lessee's Title]

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