Land Lease
I. PARTIES
This Land Lease Agreement ("Agreement") is made and entered into as of January 1, 2073, by and between:
Lessor:
[YOUR NAME], [YOUR COMPANY NAME]
Address: [YOUR COMPANY ADDRESS]
Lessee:
Carmel Ryan
Address: Baltimore, MD 21201
II. DESCRIPTION OF LEASED PROPERTY
The Lessor hereby leases to the Lessee the following real property ("Leased Property"):
Location: Baltimore, MD 21201
Legal Description: Parcel 25, Block 12, Baltimore County
The Leased Property consists of 10 acres, and the Lessee acknowledges that the property is leased for the purposes stated in this Agreement.
III. TERM OF LEASE
The term of this Lease shall commence on February 1, 2073 and end on January 31, 2078, unless terminated earlier in accordance with the provisions of this Agreement.
IV. RENT AND PAYMENT TERMS
Rent: The Lessee agrees to pay the Lessor $2,500.00 per month as rent for the Leased Property.
Payment Due Date: Rent is due on or before the 1st day of each month.
Payment Method: Payments shall be made by wire transfer to the following account/address:
V. USE OF LEASED PROPERTY
The Lessee shall use the Leased Property solely for the purpose of operating an agricultural farm and hosting community events and shall not use it for any illegal activities or purposes not authorized in this Agreement.
VI. MAINTENANCE AND REPAIRS
Lessee’s Responsibilities: The Lessee shall be responsible for maintaining the Leased Property in good condition and repair throughout the term of the lease, including but not limited to maintaining fences, equipment, and landscaping.
Lessor’s Responsibilities: The Lessor shall be responsible for maintaining the structural integrity of the Leased Property, including the upkeep of the main building and any foundational repairs.
VII. INSURANCE AND LIABILITY
Lessee’s Insurance: The Lessee agrees to maintain insurance coverage for the Leased Property with limits adequate to cover potential risks, including but not limited to property damage and liability insurance.
Lessor’s Liability: The Lessor shall not be liable for any injuries or damages incurred by the Lessee or its guests on the Leased Property, except in the case of gross negligence or willful misconduct by the Lessor.
VIII. DEFAULT AND TERMINATION
Events of Default: An event of default occurs if the Lessee fails to pay rent, breaches any provision of this Agreement, or engages in unlawful activities on the Leased Property.
Termination for Default: If an event of default occurs, the Lessor has the right to terminate the Agreement with 30 days’ written notice to the Lessee.
Termination by Lessee: The Lessee may terminate this Agreement with 60 days' written notice to the Lessor, subject to paying any outstanding rent.
IX. ASSIGNMENT AND SUBLEASING
The Lessee shall not assign or sublease the Leased Property, or any part of it, without the prior written consent of the Lessor.
X. GOVERNING LAW AND DISPUTE RESOLUTION
Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state of Maryland.
Dispute Resolution: Any disputes arising out of or in connection with this Agreement shall be resolved through arbitration in Baltimore, Maryland.
XI. MISCELLANEOUS PROVISIONS
Entire Agreement: This Agreement contains the entire understanding of the parties and supersedes any prior discussions or agreements related to the Leased Property.
Amendments: This Agreement may be amended only in writing, signed by both parties.
Notices: Any notices under this Agreement shall be sent to the addresses listed above via certified mail.
IN WITNESS WHEREOF, the parties hereto have executed this Land Lease Agreement as of the date first above written.
LESSOR:
LESSEE:
