Long Term Agricultural Land Lease Page 9
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223.
The Vendor hereby covenants with the Lessee that the Lessee paying the rent reserved by this
Lease and performing and observing the covenants on the part of the Lessee herein contained,
shall and may peaceably hold and enjoy the Farm during the term hereby granted without any
interruption by the Lessor or any person lawfully claiming through under or in trust for him.
4.
And it is hereby agreed between the Lessor and the Lessee as follows:-
(a)
The Lessor shall insure all buildings on the Farm against loss or damage by
fire and other usual risks (if any) as the Lessor deems fit in the full
reinstatement value thereof together with professional fees (in the case of
damage by fire) and the Lessor will expend all moneys received on foot of
such insurance in carrying out all works and repairs or replacements to the
buildings necessary to make good such loss or damage but he shall not be
liable to make good any loss or damage due to any wilful acts of the Lessee or
any member of his household or employees.
(b)
In the event of the Farm being assigned with the Lessor’s prior written consent
pursuant to covenant 2(17)(b) herein the Lessee shall furnish to the Lessor a
certified copy of the relevant document evidencing such assignment within
fourteen days of the assignment having come into effect.
(c)
The Lessee may carry out all or any of the works set out in the Fourth
Schedule hereto without the consent of the Lessor.
(d)
In the event of a dispute between the parties as to whether work done or
intended to be done by the Lessee falls within the Third Schedule or Fourth
Schedule hereto then the matter in dispute shall be referred for determination to
the Arbitrator (as hereinafter defined) whose decision as to which is the
appropriate Schedule shall be final and binding on the parties.
(e)
(i)
In the event of the Lessee applying for consent under Covenant 2(20)
herein to the carrying out of any works set out in the Third Schedule
hereto the Lessor shall have twenty eight days from the date of receipt
of such application to decide whether to grant or refuse consent or to
elect to carry out the works at his own expense. The Lessor shall
notify the Lessee of his decision on the application not later than the
day following the said period of twenty eight days and if this decision
shall be to carry out the works at his own expense he shall at the same
time notify the Lessee of the additional yearly rent which shall be
payable by the Lessee by reference to such works.
(ii)
On receipt of such notification the Lessee may within fourteen days
refer the determination of the amount of such increase of rent to
arbitration by the Arbitrator (as hereinafter defined) whose decision
shall be final and binding and he shall at the same time notify the
Lessor in writing that the matter has been so referred and if the Lessee
shall not have so notified the Lessor within the said period of fourteen
days he shall be deemed to have agreed to pay the additional yearly
rent so notified.
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