Common use of Existing Tenancy Clause in Contracts

Existing Tenancy. The parties acknowledge that the real estate is subject to a cash rent lease, with ▇▇▇▇ ▇▇▇▇▇ as tenant for the 2022 crop year (“Farm Lease”). The Seller shall retain 100% of the landlord’s rent for the 2022 crop year. The Seller shall be responsible for the landlord’s share of 2022 costs, and the Buyer shall be responsible for all future landlord costs. Seller represents and warrants to Buyer the Farm Lease has been or will be terminated as of the conclusion of the 2022 crop year in accordance with Illinois law, and a copy of such termination notice and acknowledgment by farm tenant shall be provided to Buyer prior to closing Buyer acknowledges may inclement weather or other factors beyond the tenant’s control may require continued possession of the Premises by ▇▇▇▇ ▇▇▇▇▇ beyond November 30, 2022 to complete the 2022 crop harvest.