Common use of Crop Damage Clause in Contracts

Crop Damage. In the event the closing and conveyance of the Property to Optionee shall occur after Optionor plants crops, but before harvest of those crops, the parties hereto mutually agree that Optionor shall have the right, upon notice to the Optionee and at the Optionee’s convenience, to harvest any crops not destroyed by the Optionee in the process of its due diligence and/or its constructing of the ethanol plant and related improvements thereto. Damage to crops shall be calculated for all purposes under this Option Agreement as follows: Optionee shall pay Optionor additional $175.00 per tillable acre for corn and $175.00 per tillable acre for soybeans for the actual number of acres, or fractional acres, of crop destroyed on the Property by the Optionee prior to the harvest of such crop acres by the Optionor in exchange for Optionor transferring all of its right, title, and interest in and to such crops to Optionee. The number of such acres destroyed shall be measured by a surveyor selected by Optionee and the fee for such measurement shall be borne by the Optionee. Optionee shall have no duty to preserve any of such crops, and Optionor accepts the payment specified in this Subparagraph (j) as liquidated damages (in lieu of any and all other damages) in complete payment of all actual costs incurred by Optionor for seed, fertilizer, and pesticides.