Compensation for improvements. The Operator may make improvements to buildings, fences, or water systems and other items at the Operator’s own expense and consistent with the terms of the lease, provided consent of the Owner has been given and provided these improvements shall not be removed when the Operator leaves the farm. The Operator shall receive compensation from the Owner for the undepreciated value of these improvements (if any) upon termination of the lease, provided the initial value, depreciation starting date, and annual rate of depreciation have been agreed upon and entered in the schedule below or attached to this lease. Examples of improvements include but are not limited to buildings, fences, tile lines, agricultural lime applications, terraces, and forage seedings. Type of Improvement Depreciation Starting Date Value of Operator’s Initial Contribution Annual Rate of Depreciation $ % $ % $ % $ %
Appears in 5 contracts
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