Common use of Disposition of Authorized Improvements Clause in Contracts

Disposition of Authorized Improvements. Upon the expiration or earlier non-default termination of this Lease, all improvements shall belong to State as provided in RCW 79.13.050 without compensation to Lessee, except for those authorized improvements set forth in Exhibit 2 and all subsequent Letters of Authorization, which are identified within those exhibits as remaining in Lessee’s ownership after expiration of the lease; provided however, all improvements set forth on Exhibit 2 and all subsequent Letters of Authorization and all crops shall be forfeited and become the property of State upon cancellation of this Lease for default. If Lessee has been authorized by this Lease to retain ownership of improvements beyond the expiration of this Lease and Lessee is not issued a new lease at expiration, State, at its sole discretion, will elect one of the following options: 1) State shall purchase such improvements; 2) State shall offer the premises and all improvements for lease or sale at public auction; or, 3) Lessee shall remove such improvements within, and in no case later than, sixty (60) days after expiration of the lease, provided that any improvements remaining thereafter shall belong to State. If the value of improvements to remain the property of Lessee is not set forth in Exhibit 2 and agreement cannot be reached between State and Lessee on the value of such improvements in order for State to exercise option 1 or 2 in the preceding paragraph, a review board of appraisers consisting of three (3) individuals will be formed to determine the fair market value of the improvement as defined in RCW 79.13.160. These individuals must have expertise in the fields of agriculture germane to the permitted use of the Premises to serve on this review board. Per RCW 79.13.160, said review board shall be made up of one (1) member appointed by State, whose expenses shall be borne by State, one (1) member appointed by Lessee, whose expenses shall be borne by Lessee, and one (1) member to be appointed by the two aforementioned members, whose expenses shall be shared equally by Lessee and State. The majority decision of the review board shall determine the value of such improvements; and, the review board shall report its findings to State and Lessee. The review board of appraisers shall determine the value of the improvements, by owner, and the value of the land; and, state the distinct values which, when added together, constitute the traditional fair market value of the assets. Under option 2 above, State shall, upon determination of the value of the improvements, offer the Premises for lease or sale at public auction, with improvements. The value of such improvements shall be collected at the time of public auction and the money so collected shall be remitted to Lessee, less any damages or waste to the property or State-owned improvements committed by Lessee. Lessee shall execute a xxxx of sale or other instrument requested by State showing transfer of title to the improvements immediately upon State’s request following the determination of value and prior to transfer of funds due Lessee for the improvements as set forth herein. If the lease prepared as a result of the review board’s determination is not bid at the public auction, then Lessee shall have one hundred eighty (180) days to remove the authorized improvements, after which time all improvements remaining on the Premises shall belong to State.

Disposition of Authorized Improvements. Upon the expiration or earlier non-default termination of this Lease, all improvements shall belong to State as provided in RCW 79.13.050 without compensation to Lessee, except for those authorized improvements set forth in Exhibit 2 and all subsequent Letters of Authorization, which are identified within those exhibits as remaining in Lessee’s ownership after expiration of the lease; provided however, all improvements set forth on Exhibit 2 and all subsequent Letters of Authorization and all crops shall be forfeited and become the property of State upon cancellation of this Lease for default. If Lessee has been authorized by this Lease to retain ownership of improvements beyond the expiration of this Lease and Lessee is not issued a new lease at expiration, State, at its sole discretion, will elect one of the following options: 1) State shall purchase such improvements; 2) State shall offer the premises and all improvements for lease or sale at public auction; or, 3) Lessee shall remove such improvements within, and in no case later than, sixty (60) days after expiration of the lease, provided that any improvements remaining thereafter shall belong to State. If the value Xxxxxx has been authorized by this Lease to retain ownership of improvements to remain beyond the property expiration of this Lease and Lessee is not set forth in Exhibit 2 and agreement cannot be reached between issued a new lease at expiration, State and Lessee on the value of such improvements in order for State to exercise option 1 or 2 in the preceding paragraph, a review board of appraisers consisting of three (3) individuals will be formed to determine the fair market value elect one of the improvement as defined in RCW 79.13.160. These individuals must have expertise in the fields of agriculture germane to the permitted use of the Premises to serve on this review board. Per RCW 79.13.160, said review board shall be made up of one (1) member appointed by State, whose expenses shall be borne by State, one (1) member appointed by Lessee, whose expenses shall be borne by Lessee, and one (1) member to be appointed by the two aforementioned members, whose expenses shall be shared equally by Lessee and State. The majority decision of the review board shall determine the value of such improvements; and, the review board shall report its findings to State and Lessee. The review board of appraisers shall determine the value of the improvements, by owner, and the value of the land; and, state the distinct values which, when added together, constitute the traditional fair market value of the assets. Under option 2 above, State shall, upon determination of the value of the improvements, offer the Premises for lease or sale at public auction, with improvements. The value of such improvements shall be collected at the time of public auction and the money so collected shall be remitted to Lessee, less any damages or waste to the property or State-owned improvements committed by Lessee. Lessee shall execute a xxxx of sale or other instrument requested by State showing transfer of title to the improvements immediately upon State’s request following the determination of value and prior to transfer of funds due Lessee for the improvements as set forth herein. If the lease prepared as a result of the review board’s determination is not bid at the public auction, then Lessee shall have one hundred eighty (180) days to remove the authorized improvements, after which time all improvements remaining on the Premises shall belong to State.options:

Disposition of Authorized Improvements. Upon the expiration or earlier non-default termination of this Lease, all improvements shall belong to State as provided in RCW 79.13.050 without compensation to Lessee, except for those authorized improvements set forth in Exhibit 2 and all subsequent Letters of Authorization, which are identified within those exhibits as remaining in Lessee’s ownership after expiration of the lease; provided however, all improvements set forth on Exhibit 2 and all subsequent Letters of Authorization and all crops shall be forfeited and become the property of State upon cancellation of this Lease for default. If Lessee has been authorized by this Lease to retain ownership of improvements beyond the expiration of this Lease and Lessee is not issued a new lease at expiration, State, at its sole discretion, will elect one of the following options: 1) State shall purchase such improvements; 2) State shall offer the premises and all improvements for lease or sale at public auction; or, 3) Lessee shall remove such improvements within, and in no case later than, sixty (60) days after expiration of the lease, provided that any improvements remaining thereafter shall belong to State. If the value of improvements to remain the property of Lessee is not set forth in Exhibit 2 and agreement cannot be reached between State and Lessee on the value of such improvements in order for State to exercise option 1 or 2 in the preceding paragraph, a review board of appraisers consisting of three (3) individuals will be formed to determine the fair market value of the improvement as defined in RCW 79.13.160. These individuals must have expertise in the fields of agriculture germane to the permitted use of the Premises to serve on this review board. Per RCW 79.13.160, said review board shall be made up of one (1) member appointed by State, whose expenses shall be borne by State, one (1) member appointed by LesseeXxxxxx, whose expenses shall be borne by LesseeXxxxxx, and one (1) member to be appointed by the two aforementioned members, whose expenses shall be shared equally by Lessee Xxxxxx and State. The majority decision of the review board shall determine the value of such improvements; and, the review board shall report its findings to State and Lessee. The review board of appraisers shall determine the value of the improvements, by owner, and the value of the land; and, state the distinct values which, when added together, constitute the traditional fair market value of the assets. Under option 2 above, State shall, upon determination of the value of the improvements, offer the Premises for lease or sale at public auction, with improvements. The value of such improvements shall be collected at the time of public auction and the money so collected shall be remitted to Lessee, less any damages or waste to the property or State-owned improvements committed by LesseeXxxxxx. Lessee Xxxxxx shall execute a xxxx bill of sale or other instrument requested by State showing transfer of title to the improvements immediately upon State’s request following the determination of value and prior to transfer of funds due Lessee for the improvements as set forth herein. If the lease prepared as a result of the review board’s determination is not bid at the public auction, then Lessee shall have one hundred eighty (180) days to remove the authorized improvements, after which time all improvements remaining on the Premises shall belong to State.

Disposition of Authorized Improvements. Upon the expiration or earlier non-non- default termination of this Leaseleases, all improvements shall belong to State as provided in RCW 79.13.050 KID without compensation to Lessee, except for those authorized improvements set forth in Exhibit 2 E and all subsequent Letters of Authorization, which are identified within those exhibits as remaining in the Lessee’s ownership after expiration of the lease; provided provided, however, all improvements set forth on Exhibit 2 E and all subsequent Letters of Authorization and all crops shall be forfeited and become the property of State KID upon cancellation of this Lease lease for default. If Lessee has been authorized by this Lease lease to retain ownership of improvements beyond the expiration of this Lease lease and Lessee is not issued a new lease at expiration, StateKID, at its sole discretion, will elect one of the following options: 1) State KID shall purchase such improvements; 2) State KID shall offer the premises and all improvements for lease or sale at public auction; auction or, 3) Lessee shall remove such improvements within, and in no case later than, sixty (60) days after expiration of the lease, provided that any improvements remaining thereafter shall belong to StateKID. If the value of improvements to remain the property of Lessee is not set forth in Exhibit 2 E and agreement cannot be reached between State KID and Lessee on the value of such improvements in order for State KID to exercise option 1 or 2 in the preceding paragraph, a review board of appraisers consisting of three (3) individuals will be formed to determine the fair market value of the improvement as defined in RCW 79.13.160improvements. These individuals must have expertise in the fields of agriculture germane to the permitted use of the Premises to serve on this review board. Per RCW 79.13.160, said Said review board shall be made up of one (1) member appointed by State, whose expenses shall be borne by State, one (1) member appointed by Lessee, whose expenses shall be borne by Lessee, and one (1) member to be appointed by the two aforementioned members, whose expenses shall be shared equally by Lessee and State. The majority decision of the review board shall determine the value of such improvements; and, the review board shall report its findings to State and Lessee. The review board of appraisers shall determine the value of the improvements, by owner, and the value of the land; and, state the distinct values which, when added together, constitute the traditional fair market value of the assets. Under option 2 above, State shall, upon determination of the value of the improvements, offer the Premises for lease or sale at public auction, with improvements. The value of such improvements shall be collected at the time of public auction and the money so collected shall be remitted to Lessee, less any damages or waste to the property or State-owned improvements committed by Lessee. Lessee shall execute a xxxx of sale or other instrument requested by State showing transfer of title to the improvements immediately upon State’s request following the determination of value and prior to transfer of funds due Lessee for the improvements as set forth herein. If the lease prepared as a result of the review board’s determination is not bid at the public auction, then Lessee shall have one hundred eighty (180) days to remove the authorized improvements, after which time all improvements remaining on the Premises shall belong to State.one