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TERMS AND CONDITIONS AGRICULTURAL LEASE AGREEMENT CITY OF HASTINGS HASTINGS INDUSTRIAL PARK AG LEASE 1. The property leased is shown on the attached map, approximately 82 acres in the Hastings Industrial Park. The amount of acreage is based on a survey, but is not warranted by the City. The City makes no warranty as to the condition ofthe property. The lessee has inspected the property and agrees to lease the property as is. 2. This agreement is for two crop years, 2008 and 2009. Annual rent will be paid in full and received at City Hall, 101 East 4th Street, Hastings, Minnesota 55033 by October 30, 2008 and again by October 30,2009. 3. This City property while under lease is subject to property tax to be paid by the lessees or user. Taxes are in addition to the rent. The Dakota County Assessors Office will be notified of the current acreage and any changes made by the City during the term of the lease. Notification may not be in time to change the property tax, in which case the rent will be reduced by excess taxes paid on a per acre basis. 4. The lessee shall exercise due care when working so not to cause any damage to neighboring property, roads, and ditches, shall not access the property directly from Spiral Blvd, shall leave the property in neat and clean condition after harvest, shall maintain proper weed control on the property, and shall remove all crops from the property before the expiration of this agreement. 5. The lessee shall furnish at his own expense all labor, equipment, materials and services required to farm the property. 6. The lessee shall not hold the City liable for any damages or injuries related to farming this property. 7. The lessee understands that the property is for sale and that the City reserves the right to sell any amount at any time. The City will advise the lessee of any sales known or pending at that time prior to planting in the Spring. The lessees' interest, under the terms ofthis agreement, in the acres sold is terminated at the time of closing. Lessee agrees to sign any document terminating lessee's leasehold interest in any property which is sold. At the discretion ofthe City, the lessee shall be permitted to tend and harvest the crops before the new owner takes possession, OR the rent and farming input costs incurred for the acreage sold shall be deducted from the year's rent. 8. The lessee shall implement best management practices (BMPs) to minimize Nitrate (N03) infiltration into the groundwater in accordance with the Best Management Plan (BMP) Guidelines for using Nitrogen Fertilizer (Exhibit A). The undersigned lessees have read and agree to these terms. Date Revised 8/28/2007