|
EXHIBIT A
<br /> {Upon completion and execution by the parties,this document shall become a binding lease)
<br /> CASH RENT FARM LEASE
<br /> THIS LEASE is entered into by and between LANDOWNER, CITY OF DECATUR FARM by and through the
<br /> LANDOWNER'S AGENT,FIRST ILLINOIS AG GROUP,and TENANT,CRAIG HILL,5867 E.WASHINGTON ST.ROAD,
<br /> MAROA,IL 61756.
<br /> THE LANDOWNER leases to the Tenant,for agricultural purposes only,the following described real estate(hereinafter"premises"),
<br /> including the fixed improvements thereon:
<br /> The Northwest Quarter(NW 1/4)of the Northwest Quarter(NW 1/4)of Section Thirty-Six(36);and the North One-Half(N
<br /> 1/2)of the Northeast Quarter(NE 1/4)of Section Thirty-Six(36);all in Township Nineteen North(T19N),Range Three East
<br /> (R3E)of the 3rd P.M.,Creek Township,DeWitt County,Illinois,containing 120.0 acres,more or less,except the real estate
<br /> where the City of Decatur wells,pump houses,and water holding ponds are located on the above described property.
<br /> A)LENGTH OF TENURE: The term of this Lease shall begin on the latter of March 1,2023,or the date of signing of this Lease and
<br /> shall end the last day ofFebruary 2024,or after all the crops on the premises have been harvested,whichever occurs first. Landownermay
<br /> terminate this Lease without cause any time prior to March 1,2023,by giving Tenant five(5)days advance written notice. In the event this
<br /> Lease is terminated without cause by Landowner,the Tenant will be reimbursed for all farming operations completed at going custom rates
<br /> and crop inputs purchased providing Tenant furnishes Landowner an invoice and receipts or other supporting material for such operations
<br /> or purchases upon Landowner's request. This shall be Tenant's sole remedy in the event this Lease is terminated without cause.
<br /> B)RENT AND TIME OF PAYMENT: The tenant agrees to pay the landowner a base rent of$325.00 per acre on 106.21 tillable acres,
<br /> for a total of$34,518.25 on or before March 15,2023(the"due date"). If the Landowner has not received the base rent,in full,by the due
<br /> date,Landlord may terminate this Farm Lease and collect the unpaid rent,and Tenant shall immediately remit any farm program payments
<br /> received for the lease year to the Agent. In the event Landowner has not received the rent,in full,by the due date and Landowner
<br /> terminates lease,Landowner is not obligated to reimburse Tenant for farming operations or crop inputs purchased.
<br /> In addition to the base rent,the tenant shall pay the landowner a bonus rent on or before November 15,2023,based on production and
<br /> average market price,to be calculated using the following formula:
<br /> Bonus rent due=.4[{((bc x pc)+(be2 x pc2))—1,075}ac+ {((bs x ps)+(bs2 x ps2))-750 as]
<br /> be=the greater of(a)bushels of corn per acre of corn produced on the premises,up to 200.0 bushels per acre,or(b)80%of the Federal
<br /> Crop Insurance Corporation approved yield on the premises.If approved yield cannot be established,then 200.0 bushels per acre shall
<br /> be substituted for option b.
<br /> bc2=bushels of corn per acre over 200.0 produced on the premises.
<br /> pc= the greater of(a)the average Wednesday closing local bid for fall 2022 corn at Topflight Grain Cooperative in Bement,Illinois for
<br /> the period of March 2022 through October 2022 or(b)the premises county Farm Service Agency loan rate for corn.
<br /> pc2=fall cash bid of 2022 corn at Topflight Grain Cooperative in Bement,Illinois at the close on the last Wednesday October 2022.
<br /> ac= acres of corn planted on the premises according to the FSA-578.
<br /> bs= the greater of(a)bushels of soybeans per acre of soybeans produced on the premises,up to 70.0 bushels per acre,or(b)801/6 of the
<br /> Federal Crop Insurance Corporation approved yield on the premises.If approved yield cannot be established,then 65.0 bushels per
<br /> acre shall be substituted for option b.
<br /> bs2=bushels of soybeans per acre over 70.0 produced on the premises.
<br /> ps= the greater of(a)the average Wednesday closing local bid for fall 2022 soybeans at Topflight Grain Cooperative in Bement,Illinois
<br /> for the period of March 2022 through October 2022,or(b)the premises county Farm Service Agency loan rate for soybeans.
<br /> ps2=fall cash bid of 2022 soybeans at Topflight Grain Cooperative in Bement,Illinois on the last Wednesday of October 2022.
<br /> as= acres of soybeans planted on the premises according to the FSA-578.
<br /> Bonus rent due shall be reduced by a sum equivalent to 40%of the amount paid for post emergence fungicide and/or insecticide applied to
<br /> premises. Tenant to provide paid invoice for post-emergence fungicide and/or insecticide applied to premises.
<br /> Bonus rent shall be increased by a sum equivalent to 40%of Market Facilitation Program Payment or similar USDA Program Payment
<br /> enacted for this year on the premises.
<br /> 1
<br />
|