4.10 SR 02-06-2017 - Laserfiche WebLink

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AGREEMENT 2017-01 AGRICULTURAL LEASE AGREEMENT THIS LEASE AGREEMENT (“Lease”), made and entered into effective January 15, 2017, by and between the City of Elk River, Minnesota, hereinafter LANDLORD, and Sherman Lehn, hereinafter called TENANT. The undersigned Landlord hereby agrees to lease to the undersigned Tenant 165 acres of agricultural property which is identified as Parcel ID No. 75-800-0075 (hereinafter sometimes referred to as the “Property” or “Premises”): The term of this Lease shall be eight (8) months, commencing on March 1, 2017, and terminating on November 1, 2017. Rent shall be calculated at the fixed amount of $75.00 per acre for 160 acres for a total term rent of $12,000.00. One half of the term rent shall be due and payable on July 15, 2017, and the balance due on or before October 15, 2017. Furthermore, the Parties hereby covenant and agree: 1. Care, Maintenance, Use Covenants. Tenant covenants that Tenant will: (i) farm and care for the Premises in a good husband-like manner, and in accordance with good farming and soil conservation practices; (ii) establish and maintain a fifty (50) foot buffer strip from the top of slope along the Elk and Mississippi Rivers, (iii) not commit or permit waste thereon; (iv) carefully protect all improvements of every kind that are now on the Premises; (v) promptly at the expiration of the term of the Lease yield up possession of the Premises, without notice, unto the Landlord in as good condition and repair as the Premises now is or may be at any time during the continuance of this Lease, ordinary wear and tear excepted; and (vi) keep the Premises free from all weeds and destroy all weeds along the fences and around all improvements thereon. 2. Sublet/Underlet. No part of the Premises shall be sublet or underlet without the written permission of the Landlord. 3. Hunting/Recreational Rights. This Lease is for agricultural purposes only. No part of this Lease shall be construed to grant the Tenant rights to hunt on the Property or allow others to hunt on the Property without the written permission of the Landlord. 4. Possession/Termination. Landlord reserves the right to demand possession of all or any portion of the Premises at any time for any purpose and to terminate this Lease. Whenever Landlord takes possession of all or any portion of the Premises or the Lease is terminated by Landlord, the Tenant shall plow under all crop residue and harrow the surface area smooth, within safety areas. In such events, Landlord shall pay reasonable damage for growing crops taken, an agreed value for work done on planted land, except in the event the Lease is