HomeMy WebLinkAboutMcKenzie Halligan - Farm Lease 2025 thru 2027 - 11.18.2024City of Waterloo, Iowa dba Waterloo Regional Airport and McKenzie Halligan for
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Ground Lease Agreement to Conduct Farming Operations
This MOU to the Farm / Agriculture Agreement (the "Agreement") is entered into as of December
1, 2024, by and between the City of Waterloo, Iowa, dba Waterloo Regional Airport at 2790
Livingston Lane, Waterloo, Iowa 50703 ("Landlord"), and McKenzie Halligan at 23891 310th St
Parkersburg, Iowa, 50665, hereinafter referred to as ("Tenant").
RECITALS
A. Landlord and Tenant entered into a Three (3) year Agriculture Agreement effective December
1, 2024, and expiring on December 31, 2027, providing for the farming operations of
approximately 1,150.00 acres of City of Waterloo acreage for the conduct of farming
operations on said properties described therein (the "Farm Lease").
AGREEMENT
NOW, THEREFORE, in consideration of the mutual promises exchanged herein, the parties
agree as follows:
1. Term and the Amount of the Lease is agreed to as follows:
For the term of this agreement the rental price per acre shall be two hundred twenty-
eight dollars ($228.00) per acre per year. The City reserves the right to modify the farmed
area prior to planting season. Estimated yearly payments are:
For 2025, Tenant shall pay the City/Airport $87,400.00 on April 7, 2025; $87,400.00 on
September 8, 2025; and, $87,400.00 on January 5, 2026.
For 2026, the term of this agreement with the dates herein, Tenant shall pay the
City/Airport $87,400.00 on April 6, 2026; $87,400.00 on September 8, 2026; and,
$87,400.00 on January 4, 2027.
For 2027, the term of this agreement with the dates herein, Tenant shall pay the
City/Airport $87,400.00 on April 5, 2027; $87,400.00 on September 7, 2027; and,
$87,400.00 on January 4, 2028.
2. Except as set forth above, the Farm Agreement is agreed to, and the provisions of the
Agreement shall continue in full force and effect.
3. Tenant shall follow all required Local, State and Federal laws while conducting business
on the leased areas.
4. Tenant shall hold harmless the Landlord to the maximum extent allowable by law.
Capitalized terms used in this Lease Amendment that are not defined herein shall have the
meanings ascribed to them in the Farm Agriculture Lease / RFP.
This agreement is binding on the parties and their respective heirs, personal representative: ,
successors and assigns.
IN WITNESS WHEREOF, the parties have executed this lease for farming operations or
approximately 1,150.00 acres of City/Airport property, as of the date set forth above.
TENANT
McKenzie Halligan
By:
McKenzie hj'ailigan
LANDLORD
City of Waterloo, Iowa / Waterloo Begiorla
Airport
6--Eei)etz iy.er9a,a,rd
By:
Steven Kjergaard
Airport Director