Long Term Agricultural Land Lease Page 10
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22(iii)
If the determination of the amount of the additional yearly rent is
referred to arbitration then the rent to be determined by the Arbitrator
shall be such amount as shall represent the increase in the annual
letting value of the Farm attributable to the works to be carried out.
(iv)
Subject to sub-clause (e)(v) of this Clause the additional yearly rent so
agreed or determined by the Arbitrator as the case may be shall be
payable upon the first gale day following the completion of the said
works and upon each gale day thereafter until the expiration of the then
current [five] year period as defined in the Second Schedule hereto and
the first such payment shall include by way of addition a sum
computed to be a due apportionment of the additional yearly rent to
cover the period between the completion of the said works and the first
gale day thereafter. The amount of any additional yearly rent so
agreed or determined as aforesaid shall be liable to adjustment at the
times and in the manner set forth in the Second Schedule hereto in
relation to the yearly rent set out therein.
(v)
The Lessee may within fourteen days of receipt by him of notification
of the determination by the said Arbitrator serve a notice in writing on
the Lessor withdrawing his application for consent under Covenant
2(20) herein in which event the Lessor shall not carry out the said
works provided always that the Lessee shall be liable for all reasonable
costs and expenses incurred by the Lessor in relation to the withdrawn
application.
(vi)
If the Lessor elects to carry out the works at his own expense he shall
have full right and liberty to enter upon the Farm at all reasonable
times with such workmen and machinery as may be necessary to carry
out the said works making good any damage caused but having no
liability for any temporary inconvenience or damage thereby caused.
(vii)
An Arbitrator under any of the provisions of Clause 4 (d) or 4 (e)
hereof shall be appointed on the application of either the Lessor or
Lessee (as appropriate) by the President or next available Senior
Officer for the time being of the Society of Chartered Surveyors
Ireland (or any body carrying out the functions of that body should it
cease to exist).
(f)
The Lessor shall not be obliged to pay to the Lessee compensation in respect of
any works which the Lessee shall have carried out at the date of termination of
the Lease.
(g)
If the tenancy hereby created should continue beyond the term specified herein
it shall in the absence of a new Lease be deemed to be a monthly tenancy
commencing on the day following the expiration of the term specified herein
subject to the payment of a monthly rent equivalent to one twelfth of the rent
payable immediately prior to such expiration and such monthly rent shall be
payable in advance the first payment thereof to be made on the date of the
commencement of such monthly tenancy which tenancy shall be determinable
by one calendar month’s notice in writing by either party expiring on any gale
day.
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