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Northern Indiana | how mine are worded:
II. CASH RENT
2.1 For use of the land, Operator agrees to pay as rent to the Landlord at the per acre rate identified in the Purdue Land Value Survey, published annually by the Purdue University Extension Office. This rate is determined by the following factors: Area – North, Land Class – Average, Previous Year Rent/Acre.
2.2 The rate payable for each year will be based on the previous year’s rate identified in the Purdue Survey. For reference the June 2007 rate of $000.00 per acre will be the applied as the per acre rent amount for 2008. A copy of the June 2007 survey is attached.
2.3 One half of the above mentioned payment shall be due on May 1st and the remaining half shall be due on December 1st each year this agreement is in effect. For reference the total amount due for 2008 is $X - $X payable May 1, 2008 and $X payable December 1, 2008.
2.4 Payment shall be made at (address) unless other arrangements are made.
Edited by Downwardspiral 10/8/2008 19:08
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Suggestions on Variable Cash Lease
