Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1916-01-18
HANCOCK TENANT BECOMES
PARTNER OF LAND OWNER
IN MANY WAYS.
Is TO SHARE EQUALLY
IN INCREASE IN VALUES
Proceeds Of Crops and Stock Go Into
One Fund, and Landlord and Tenant
Are to Share Equally When Dividend
10 Declared Made For Sale
Of Land If Parties Can Not Agree.
Special to Times-Republican.

sAAASA
inal lease for the operation of a Cerro
Gordo county farm. 1t was case of
continued unsatisfactory experiments
on the part Of the owner of the land
and a desire by the second party" to
secure self and family some Of the
hoped-for future advantages of land
ownership, without the necessity of ac-
tually buying an expensive farm. Given
the proper conditions. that is, fair
minded and reasonable tenant, the
scheme adopted by these two men as
outlined below, ought to work out to
their mutual benefit, and at the same
time serve as an object lesson for stu
dents Of a most perplexing problem,
namely. that of an equitable farm lease
providing something more than posi-
bility for all concerned, and making for
more stability and permanence in ru-
raj communities where large proper
ton of the population are tenant farm
ers. The provisions in full of this I'M
usual form of lease follow:
This agreement, ETC., etc., witness
seth: That they do hereby enter into
partnership for the purpose Of oper-
'ating a farm; the said partnership to
continue for the term of five years, I'M
less sooner dissolved by mutual con-
sent and agreement.
1.-THE party of the first part is to fur
nish as capital on his part the use of
the following described land, ETC., and
one-half Of all personal property neces-
sary to properly carry on said farm,
including the machinery, horses. cattle,
hogs and other stock necessary to the
proper operation Of said farm.
1.-THE party of the second part is to
furnish as his share of the capital one
half Of all personal property necessary
to operate said farm as aforesaid, and
all of the labor necessary to operate the
farm, not including labor for making
permanent improvements.
"A1l improvements made on said
place shall be paid for out Of the profits
Of the business and money may be Dor
rowed for that purpose when necessary.
but no such money shall be borrowed
without consulting both parties and
both authorizing the same.
"The party Of the second part shall
live upon the land and give the opera
ton Of the same his personal time and
attention, and see that the same is
farmed in good and workmanlike
manner and give the business practi-
cally all Of his time and attention and
shall carry on no other business that
will prevent him from SO doing.
1.-THE party Of the first part shall
give the business no particular time
nor attention, excepting so far as he
may deem best in an advisory capacity.
The second party shall sell the pro-
duce and stock raised and produced
on said farm at such time as he may
deem best and advisable and shall keep
full and complete accounts Of all mon
les received and expended and report
to said party upon demand.
"All profits resulting from said BUSH
ness shall be divided between the par
ties after the permanent improvements
made upon the farm have been paid
for and all running expenses paid; and
included in said profits shall be the in
creased value Of the land caused by the
making of said improvements or re-
sulting from the natural increase in
land during the term of this contract,
and for the purpose of determining
said increase, the land shall be taken at
$'35 per acre at this time. Said land
Is with INV l5o5O "
$4,000 bearing interest at 5 per cent,
and the said interest as well as the
taxes on the land and insurance on the
buildings shall be paid as an expense
Of said business out of the profits or
earnings thereof.
"The term of partnership shall COM
mence Jan. /, 1916, and shall continue
for five years, subject to termination
sooner by agreement of the parties, or
by failure of either party to comply
with the terms and conditions hereof,
In which case the party not violating
may declare the term at an end and
proceed to dissolve the said partner
ship.
"The title and ownership Of said land
shall remain in the first party and the
incumbrance may be renewed at its
expiration upon the best terms obtain
able at that time and first party may
Increase the same II he desires, but
said business and partnership shall be
liable to pay the interest on $4,000 only:
Upon the expiration of said term or
the dissolution of said partnership
otherwise, all the personal property
shall be sold at public or private sale
and the land shall be appraised, II the
parties can not agree upon its value,
by three persons, each Of the parties
hereto selecting one and those two a
third and the first party shall have the