I F A R MANAGEMENT LEASE AGREEMENTS Luther B. Smith Multicounty Farm Management Agent Today’s economy has lend itself to more and more items (equip ment, livestock, land, and build ings) being leased (rented) instead of purchased or a combination of the two. Many fanners will develop their own lease agreements, especially in the areas of land and buildings and when it involves farmer-to farmer deals. Some of these agree ments are very detailed and others #HIIISHEY EQUIPMENT Tf fCOMPANY, INC. the mwiva* kMh UWCUEE ADVANTAGE mnnva* long life tight bulbs last TWICE AS LONG as the major brands .. fnuuwn —.. 2000 f \ theirs Hours ( \ 750-1000 • 5 FILAMENT I 6 I HOUfS SUPPORTS V / EXTRA HEAVY \ /•^Sfl NT DUTY LEAD VyiRES \ /, SUPPORTS THICKER LONGER \ / * TANNER FILAMENT \ / LEAO WIRES CONTAINS 5 TIMES I /'THINNER MORE TUNGSTEN I I FILAMENT LESS RESISTS DAMAGE Sr-1 J TUNGSTEN FROM VIBRATION SHORTER LIFE OR SUDDEN • LESS OAMAGE JARRING RESISTANT ALSO 250 WATT HEAT LAMP AVAILABLE AT $1.35 SIZES AVAILABLE 25 WATT 40 WATT 60 WATT 75 WATT 100 WATT ■ b E £%%i B FARM DUTY MOTORS* PRICE 1 1/2 EXTRA HI-TOROUE RATED 5 7 1/2 10 $320 $405 is4Bs '3% ” WIDE SOFTOUCH EGG BELT .11 PER FOOT WHEN PURCHASED IN FULL ROLL QUANTITIES OF 1020’ PER ROLL 500 U UTILITY HUMIDIFIER for low cost control of humidity ‘ ““ 500 U Humidification System KALGUO ALARM SYSTEMS KAS com** with power pack unit contain* ln ß r *charging circuit and maintenance (raa fill-call baitariaa, a 110 doeibal aolld-atala airan •nd aiap down tranatormar lor low valtaga wiMng Basic ayatam datacta power failure Additional aanaora may be added to monitor wmparaiura, fire, aacurlly alr/watar praaaura, We Ph «na dialer available f % * $320.00 involve a simple handshake, some work very well, and others create more problems then they are worth. To avoid misunderstandings later, a few basic steps need to be followed. A simple definition of a tease might be the best place to get started. A lease is a contract by which one party (landlord or lessors) gives to another party (tenant or lessee) the use and possession of some property for a period of time with certain payments. The pay ments, usually called rents, are SALE EFFECTIVE UNTIL OCTOBER 31 ‘We 'lake Costumer Satisfaction 'Personally QUANTITIES LIMITED HERE'S WHY! SHAFT DIA. RPM FRAME E 56 D 56 E 56 F 56 HS6H JS6HZ EIB2T GIB4T JIB4T 1 3/8 1 3/8 1 3/8 H2IST K2IST L2IST 1740 1740 1740 $170.00 HIGH EFFICIENT LIGHT WEIGHT EASY TO MAINTAIN DEPENDABLE ECONOMICALLY PRICED SENSAPHONE Environmental M. ~ Sv highly negotiable and variable, depending on what is being leased. This article will focus on what should be contained in a lease agreement Regardless of whether it is land, buildings, livestock, or equipment the following points should be covered in the lease agreement (Realizing that the lease will be made specific for the type of item being leased.) A. Who is the lease between. • Include full names of all peo ple involved and complete addresses. B. Time frame for the lease. • Include starting date and ending date C. Give a complete and accurate description of the property to be leased. D. The landlord agrees to: • Pay what ownership costs (taxes, insurance, capital repairs, debt repayments, etc.). • Furnish land, buildings, equipment, livestock, etc. • Furnish other (milking tank and equipment, fence materials, SYCAMORE IND PARK 255 p i£ N L TREE Route 30 West DRIVE LANCASTER, PA 17603 - (717) 393-5807 Cen,ervllle Exl * DOSATRONJB LIQUID DISPENSER Now you can accurately meter.. antibiotics • coccidiostats drugs •disinfectants • sulfas vdccmes • vitamins • warmers fertilizer*chemical additives. STANDARD MODEL $175.00 Each CATALOG NUMBER VOLTAGE 110085 110086 110087 110088 110089 110090 130042 130043 130044 115/208-230 115/208-230 115/208-230 115/208-230 115/230 230 115/208-230 230 140203 140130 140414 (GSX) Grain Systems, Inc. 10 MINUTE TIMER l|rjj Available > 110 V or $49.00 SS-600 ECONOMY S POULTRY CONTROLLER Continuous Currant. Effective tor adult chickens and other large birds. Activates up to 3 miles of fence. Controller Size 2’’x6"x2” $29.00 mcaolair BINS! I. % SINGLE STAGE FAN THERMOSTAT $21.00 wood from woodlot, silo unloed ers, bam cleaner, etc.). E. The tenant agrees to: * Pay what rent, how often, and when. • What concerning mainte nance, repairs, construction, land use. • Pay any other expenses (list specifics and detail). • Other (keep farm lane pass able, spread manure from manure pit prior to a set date, etc.). F. Both agree to: • Concerning sub-leases in case of dispute: • Sale of portion of farm (how to handle-change rent, pay ment for standing crops, etc.). •• How to handle standing winter grain at start and stop of lease. • How to handle stored feed at start and stop of lease. G. Option in case of death or sale by landlord. H. Option in case of death or discontinuance of business by if l * ■ JOl #NBF36J 36” Fan With 'h HP Motor $229.00 MAX-MEN THERMOMETER (Not As Pictured) $8.95 Lancaster Farming, Saturday, September 21, 1991-C3 tenant I. Some other things to consider in a lease: • Who constructs or remodels buildings. • What happens if a building bums down or is destroyed by natural causes (wind, lightening, flood, etc.). The above nine points are based on a Penn State publication by John Brockette, area farm manage ment specialist. The main concern when creat ing a lease is to be fair and equit able to both parties and cover all areas in detail. The more you remember to include in the lease the less chance there will be at a later date for disagreement. If you are interested in more information on leases, contact your local Penn State extension office for publications and sample lease agreements. ROPE IN SOME EXTRA CASH! Advertise With A Lancaster Farming CLASSIFIED AD... Phone: 717-394-3047 or 717-626-1164 FRANK A. FILLIPPO, INC. - WANTED - DISABLED & CRIPPLED COWS, BULLS & STEERS Competitive Prices Paid Slaughtered under government inspection Call: Frank Fillippo - Residence - 215-666-0725 Elam Cinder - 717-367-3824 C.L. King - 717-786-7229 HENRY K. FISHER, INC. 667 Hartman Station Road Lancaster, PA 17601 717-393-6530
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