05 20 HUNTING LEASE AGREEMENT

• Jurisdiction: Arkansas
• Library: Arkansas Form Book - Complete (2023 Ed.)

05-20 HUNTING LEASE AGREEMENT

HUNTING LEASE AGREEMENT

This Hunting Lease Agreement (the "Lease") is made by and between [Lessor Name], (the "Lessor"), an Arkansas [entity type], and [Lessee Name] (the "Lessee"), an Arkansas [entity type].

1. PURPOSE OF LEASE. Lessor does hereby lease to Lessee, for the sole purpose of hunting seasons established by and in accordance with the laws, rules, and regulations of the state of Arkansas and the United States, that certain property situated in [county] County, Arkansas, more particularly described on EXHIBIT "A" attached hereto (the "Premises").

2. LEASE TERM. The initial term of this Lease is for the hunting seasons included in the period starting [beginning date] and ending on [ending date].

3. CONSIDERATION. Lessee shall pay Lessor a rental amount of $[yearly lease amount] per year, to be paid [payment installment description]. Lessee may, at its sole discretion, prepay any amounts due under this Lease without penalty. Lessee shall have the opportunity to cure nonpayment of rent for up to 15 days after the date upon which a rental payment is due, provided a late fee of $15 per day shall be applied to rental payments made.

4. RENEWAL. This Lessee shall have the option to renew the term of this Lease for a period of [number of renewal years] years beginning upon the expiration of the initial term and upon the expiration of any renewal term occurring thereafter. To exercise its option, Lessee shall provide Lessor written notice of its intent to renew the lease at least 120 days prior to the expiration of the then-current term. Upon renewal, Lessor may, at its option, increase the yearly rental amount by no more than 10% of the then-current rental amount. In order for an increase to be effective hereunder, Lessor shall provide Lessee written notice of any increase at least 90 days prior to the expiration of the then-current term.

5. EXCLUSIVE RIGHTS. Subject to the rights reserved by Lessor below, Lessee shall enjoy the exclusive hunting rights upon the Premises.

6. COMPLIANCE WITH LAW. Lessee's use of the Premises shall comply with all state and federal laws.

7. LIMITS ON HUNTING. Lessee and their guests alone may hunt on the Premises pursuant to the terms of this Lease. Further, no right granted to Lessee hereunder shall in any manner limit or restrict Lessor's full right at any time to manage and use the Premises for agricultural or any other purposes except for hunting purposes.

8. SUBLEASING. Lessee may not...