Prepared by Professor Lynn Robertson and M. L. Fisher of Purdue University.
This Agreement made this.....day of............19.., by and between............, lessor, and...............', lessee.
Witnesseth: that the said lessor has this day leased to the said lessee his farm of.......acres known as the..........
farm, and located and described as follows:..................
...................for a one year period beginning........,
19.., and ending.........19.., for the purpose of farming, subject to the conditions hereinafter set forth.
Section 1. Renewal. It is understood that this lease shall be automatically renewed from year to year, but may be terminated at any time by mutual consent, by failure of either party to keep the covenants of this agreement, or upon six month's written notice from either party, provided such notice is given between any April 1 and the next September 30, inclusive. If such notice is given between any October 1 and the next March 30, inclusive, the date of the termination of the lease shall be the first of the next October following such notice, unless the date is changed by mutual consent after the notice is given.
Provided, in all cases, that if the lease terminates in the fall before corn or other crops can be conveniently or economically harvested, the lessee shall have the right to enter the farm after the termination of the lease for the purpose of harvesting such crops, which he agrees to do without unreasonable delay, and to deliver over to the lessor the share of such crops which it is hereinafter agreed the lessor shall receive.
The lessee agrees to move on to said farm on or about.......,
19.., and to farm and care for the same in a good and husbandlike manner during the continuance of this lease.
Section 2. What Each Party Shall Furnish. Each party shall furnish one-half of all seed to be planted or sown on said farm; one-half of the fertilizer or lime to be applied to the soil; one-half of all livestock; including poultry but not including horses; one-half of all feed and salt for same, pay one-half of the fee for registering purebred partnership livestock; pay one-half of the freight charges for shipping, feed, seed, fertilizer, or partnership livestock, to or from the farm; pay one-half of the expenses for veterinarian or stock medicine (except for lessee's horses); pay one-half of the usual machine expense for threshing, hulling clover, filling silo, shredding fodder, and baling hay, together with one-half of the fuel charge for same in case it is necessary to buy fuel for such machine work; pay one-half of the taxes on the undivided livestock and crops held in common, and one-half of the cost of insuring the same; pay one-half of the telephone rent; and shall receive one-half of the increase and receipts from the sale of all crops and livestock, except as hereinafter provided.
The lessee shall furnish and keep in repair at his expense, all machinery necessary for the successful operation of said farm, except the following................................, which the lessor agrees to furnish with the understanding that the lessee shall take proper care of the same and repair any breakage not due to natural wear and tear or unavoidable accident.
The lessee shall furnish all labor, and all the horses necessary for operating the farm, the horses to be fed from undivided feed. In case colts are raised the lessor shall pay the breeding fees and shall have a half interest in the colts.
Section 3. Purchase of Interest in Each Other's Livestock, Feed, etc. Each party agrees to purchase one-half interest in as much of the livestock, feed, seed, fertilizer or lime belonging to the other party at the beginning of this lease, as it is mutually agreed shall be used on this farm. In the case of feeds not weighed the following rule shall apply; ear corn shall be measured in the crib and 2.5 cubic feet considered one bushel; oats, barley, what and rye shall be measured in the bin and 1.25 cubic feet considered one bushel; hay shall be measured in the mow or stack and 400, 450, 500 cubic feet considered one ton. No charge shall be made to the lessee for straw or fodder in the barns or on the fields on said farm, nor shall the lessee claim reimbursement for any such material remaining on the farm at the formation of the lease, nor shall he remove any straw or fodder from the farm without the consent of the lessor.
Section 4. Note May Be Given by Lessee. The amounts owed to either party by the other party under the provisions of section 3 of this lease, shall be set off against each other and the difference paid in cash. Provided, however, that if the difference is owed by the lessee, he may give the lessor his note for the same, payable in......months with interest at......%.
In the event of the termination of this lease before the maturity of said note, the note shall become due immediately, and the debt shall constitute a prior lien on the lessee's share of livestock, feed, and other supplies on the farm.
Section 5. Crops and Soil Treatment. The crops to be grown and the soil treatment to be given on each field of the farm during the continuance of this lease shall be mutually agreed upon by the lessor and the lessee.
Section 6. House, Garden, Truck Patch. The lessee shall have the house, garden spot, and a truck patch, the latter not to exceed......acre, for the use of his family. He agrees to keep the premises in neat and tidy condition, and to use precaution in protecting all vines, bushes and shade trees from injury.
Section 7. Fuel for Family Use. Lessee shall have the dead and down timber for fuel, but he shall not use for fuel any logs suitable for saw timber, or any sawn timber or rails, nor shall he cut down live trees.