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<br />III. <br />RENT <br /> <br />I <br /> <br />pro rata portion of any prepaid rent for the term that has not been earned as of the <br />termination date. <br /> <br />The total yearly lease fee of $10,199.20 is due and payable upon the execution <br />of this Lease Agreement. Subsequent total yearly payments will be made on anniversary <br />date of this Lease. <br /> <br />IV. <br />SUB-LEASE OR LEASE TRANSFER <br /> <br />It is expressly understood and agreed that the Lessee may not sub-lease any <br />part of the Leased Property nor may the Lessee transfer the Lease Agreement to <br />another party without the prior written consent of the City. Consent to such sub-lease or <br />transfer may be given by City only if the third party agrees, in writing, to accept and <br />abide by all of the provisions of this Lease Agreement. <br /> <br />V. <br />DEFAULT AND/OR RECAPTURE <br /> <br />A. In the event either party should violate any term or provision of this Lease <br />Agreement, the party not in default shall give the defaulting party notice, and if such <br />default complained of shall, in fact, constitute default, and unless the same is not <br />corrected within fifteen (15) days after the date of receipt of such written notice, then the <br />party not in default shall have the option to terminate this Lease Agreement, and in the <br />event of such termination, Lessee shall return the Leased Property to City in as good a <br />condition as it was at the beginning of this Lease Agreement except for any changes <br />brought about by weather conditions, harvesting of crops and other conditions beyond <br />Lessee's control. <br /> <br />I <br />I <br /> <br />B. In the event City terminates this Lease Agreement under the provisions of <br />this paragraph, the City may, at it's discretion, account to Lessee for the fair market <br />value, as determined by the City, of any agricultural products growing at the time of such <br />termination less any damages or expenses incurred by City in tending, harvesting and <br />marketing same, such accounting to occur at the time any such crops are marketed; <br />and, the City may, at its discretion, refund to the Lessee a pro rata portion of any prepaid <br />rent for the term that has not been earned as of the termination date. <br /> <br />VI. <br />INSURANCE <br /> <br />Lessee shall maintain at its own cost and expense public liability insurance on an <br />occurrence basis with minimum limits of liability in an amount of $100,000.00 for bodily <br />injury, personal injury or death to anyone person and up to $300,000.00 for all injuries <br />arising out of each such occurrence, and $100,000.00 for damage to property. Such <br />insurance policy shall contain the endorsement that insurance may not be cancelled or <br />amended with respect to Lessee without thirty (30) days written notice by registered mail <br />to City by the insurance company, and that City shall not be required to pay any <br /> <br />I <br />