Specifications include, but are not limited to: The leased land may be used for producing agricultural commodities, including, but not limited to, grain, vegetable, and forage crops. TENANT agrees to follow good farm management practices and to farm the land in a good and reasonable manner to avoid degradation of the environment and further agrees to the following: a) DEPARTMENT reserves the right to cancel this lease on or before January 31 of each year by written notice, given at least 60 days prior to January 31 for non-performance of the contract. This lease shall not be subject to subleasing on the part of the TENANT. b) TENANT shall pay twenty-five percent (25%) of the annual rental when the contract is awarded. In subsequent years of the contract, the twenty-five percent (25%) payment is due on or before March 15. The remaining balance of the annual rental, seventy-five percent (75%) shall be due on or before October 31 of each year of the lease. Failure to make timely payments shall be a condition to cancel the lease at any time. In addition, TENANT must agree to grant a security interest (lien) in farm crops, not limited to soybeans, sorghum, or corn, standing, grown, in storage or in transit, which are grown on described rental property, to insure performance by the TENANT under all agreements with the DEPARTMENT. The TENANT must provide the DEPARTMENT with a list of grain dealers that will be receiving crops grown on Division lands to insure execution of security interest. c) Fields with the approximate acreage that are offered for lease are outlined on the attached map (Exhibit 1) and table (Exhibit 2). The DEPARTMENT does not guarantee the exact acres of land for rent.
