Lease Covers
- Apportionment of undivided property or improvement if at any time contract should be terminated.
- Runs for 10 years but may be terminated at the end of the year.
- If tenant does not live up to agreement, farm automatically returns to owners complete control.
Owner can then hire such labor as is necessary to carry on business to end of year at which time lease will expire and tenant’s heirs or assignees would be paid their net share of the income due after expenses are paid.
The renter likes the plan for the following reasons:
- It gives tenant residence for 10 years. No expense for frequent moves.
- Live stock as dairy cows gives tenant income each month.
- Tenant capitalizes his labor.
- Tenant on farm long enough to gain the advantage of added benefits from live stock farming and the application of stable manure to fields.
The owner likes it for the following reasons:
- The land is improved constantly.
- Allows him to engage in other business and follow farming evenings and Saturdays.
- Plan urges tenant to do his best to make grain and milk crops as large as possible.
- Plan assures the owner that the live stock and farm equipment is well cared for.
The best tenant is a young married man experienced, competent and who likes the farm and wants to own a farm himself some day.