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Tips on completing the Oklahoma Real Estate Commission Lease 2013 2019 Form

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Steps of Customizing the Oklahoma Real Estate Commission Lease 2013 2019 Form

all right so will this we're ready to go.on our farmland leasing in 2020 webinar.so you have three people here today.Jonathan coppice good morning Dale Lance.good morning and myself Gary Schnitkey.we're going to go over this next next.hour her on on farm land leasing and.we're going to do four things we're.going to give a brief income outlook.we're gonna do a leasing basics 101 just.some of the issues associated with.lasing then we'll go over the types of.leasing and what we're seeing as far as.average cash rent levels in the Illinois.flexible cash rents and share rents and.what we're seeing there and then finally.question our item number four we will be.going over leasing addendums which are.new conservation ELISA denims that we.developed this year in cooperation with.Illinois corn growers and the nature.concerns for the Nature Conservancy so.that's our outline we'll start out with.a income outlook and income outlook it's.been as they say an interesting year and.we don't need too many more interesting.years I'm gonna just illustrate where.we're at with 2019 and 2020 here so.you're seeing budgets for 2019 2020 and.then actual results for 2018 overall.we're looking at lower incomes for 2019.a lot of that is due to lower yields.here you're looking at corn yields where.we were at 237 bushels here in central.Illinois last year we're looking at 205.this year and maybe that's too high.maybe that's too low.but overall we're looking at at lower.lower yields in 2019 we're currently.using a 390 price for corn and one of.the bright spots I suppose in the recent.recent months is the increases in prices.but that gives us 800 dollars of revenue.we could get our PLC payment in 2019.this would be received in 2020 and this.82 dollars here.MFP payments that's the entire payment.so we're putting on in not only the.first half that you got so $41 but also.we're assuming that you're going to get.the other two as well.but given that yield 205 and that's.probably remarkable given where we.started the year we're going to look at.a farmer return on corn after paying at.glan cost here which is about the.average cash round of 26 dollars an acre.which is up a bit from last year for.2020 we're projecting negative numbers.and again that would be based on a 211.bushel yield near trend continued 390.price don't have anything in there for.MFP payments right now but that leaves.us with a negative number for 2020 here.is what soybeans look like in soybeans.we go from 154 dollars per acre last.year 221 for this year and a minus 45.for next year but the big change here is.going from 74 bushels per acre down to.55 we've had remarkable increases in.prices or you know we're here recently.where he's currently using 9:30 in our.budgets that started out at 8:50 lower.soybean acres and lower yields have.contributed to lower supply again we're.looking at 82 dollars of MFP payments.which this year was the same for both.corn and soybeans last year that would.have worked out to be 122 again for 2020.63 bushels which would be what we're.basing again our 2020 rents on and 9:20.price but we come up with an - $45 to.get 20/20 returns to zero we would need.another MFP payment $50 or 5 bushel.higher yields all which could happen.one thing I would mention though if we.have higher yields you're probably.looking at that 9:20 price being 858.6870 again so we lost 10 million acres.of soybeans so that's that's if we get.those back and get normal.or above average yields we were probably.looking at prices in the eights next.year again.so before you move off that could you go.back to that slide just a couple points.of clarification the MFP payment you.took an average payment that is County.driven right County driven so that would.be County driven eighty two dollars so.some counties would be higher than that.Piatt County and I can't remember it's a.higher MFP payment and some others are.lowered and and then the arc/plc I.believe I just looked yesterday and.they're starting to process that so that.information is probably out there or.will be out there and what those.payments might be more specifically as I.select so that'd be for the 2018.payments which we which we would be.putting in here for 2018 that's a direct.yes we're putting in those at zero.yes out of your lags so zero this 2019.is assuming for the sign up now and that.that that may or may not be the case so.so we're there could be our PLC payment.actually for central Illinois it may not.be because of the above your market year.average prices are going to be above.that 370 corn reference price and 840.soybeans so no PLC payments and we'll.just have to wait and see what art does.all right so that's corn soybeans again.we're looking at prices moving forward.372 9 is sort of what we're looking at.for 2020 and I would also say that $9.00.there you could see that come down if we.go back again to 2 higher yielding.soybeans and again it's going to high up.higher we're gonna have a hard time.keeping soybean prices above 9 until we.get some trade certainty there and even.if we do get china-us worked out we.still get African swine fever our large.carry-outs of US stocks are projected to.be down this year but we still have some.pretty large carry-outs large not by a.large by the usual amount not a billion.billion billion bushels.so this is where we're at so this would.be 2019 2020 you see we're and then the.green line is the average cash rents the.blue and the red lines are what's.operator and land returns so that's what.a farmer would have to pay land rent and.then pay themselves you can see there.it's a for 2019 corns above cash rents.soybeans are below it average two.together its price zero we're roughly.the same as back in 2015 and 2020.something has to happen so that we get.back to that line by the way that's.central Illinois so that we're having.we're putting in there 205 bushel yield.one hunt and 55 for soybeans if we go.and and a large part of that by the way.it's MFP payments so 2018 you can see.the part of that that was associated.with MFP payments 2019 if we did not.have MFP payments in both cases we would.we would have operator and land returns.well below cash rents again that's going.to put downward pressure on cash rents.and after MFP is essentially for central.Illinois causing us to hold our own this.year that won't be the case in all areas.of the state.this is Northern Illinois where we're.putting in much lower yields 175 for.corn and 50 for soybeans you can see.there that those lower yields cause us.to have operator and land returns much.below our cash rents and again we're.projecting that for next year so those.areas in particular are going to face.some downward pressure on cash rents.here in central Illinois it might be.less so because we're our better bet are.what are reported yields coming out.right near 200 bushel for corn and.something above 50 bushels for soybeans.so that's our outlook and again he would.say and a year in which we're going to.have very low incomes and the prospects.are for continued low incomes into.20:20 well I'm that good is Gary I guess.we'll talk a bit of lease leasing basics.and go through some of what what's.available in farm doc and just some.reminders on things that hopefully most.people are pretty familiar with but we.walk through some things here relatively.quickly so if you remember nothing else.about what I say over the next couple.minutes next few minutes here you should.remember this a least is ultimately a.contract right and at the bottom line.it's a contract it is something that you.can negotiate every term about every.term as between the two is a contract.and that it it addresses legal rights.between parties and so we would.consistently advise that you consult an.attorney that both sides of the.negotiation work with legal.representation to get this done now.certainly understand realities on the.ground but that is a pretty standard.advice you're entering into a contract.with legal rights around real property.and basically as everybody knows when.you're renting you're you're getting.possession of control and then the land.goes back to the owner when that lease.term is up and in general the tenant is.going to stand in place of the land.owner during the time of the agreement.because we're dealing with land we.prefer legally speaking we prefer that.this be in writing and that it is a.formal written document signed by the.parties and kept on record now look it's.entirely possible to have this agreement.in in an oral lease or verbal lease and.have nothing in writing and it's.entirely possible to have entirely.possible to have a series of documents.it will count as your your basic.contract so you should keep in mind any.of the paper going back and forth.between the two if they are between the.two parties can can have an impact on.this.in general or leases are going to run.from a year-to-year and they have to be.renewed but the law in general the the.statutes in Illinois and in many states.will kind of demons to automatically.renew unless we give notice that it is.to be terminated or not renewed and a.substantial performance as one of the.things that the law will usually allow.to enforce a contract where the.performance appears to have indicated an.agreement and the parties acted as if.they had an agreement and then tried to.change your mind afterwards so just some.basics in that regard it is possible to.have a multi-year lease again something.for a multi-year lease you're almost.always gonna have to have that in.writing or have some really strong.evidence that this is what the parties.intended so if it's verbal it's going to.be on a year-to-year basis and it's.going to be subject to a couple other.provisions and statute that we talked.about if you want a multi-year lease.then you put that in place with a.written document there are situations in.which you can be a tenancy at sufferance.if you're if you're holding over based.on conflict but this is something that.is very short-term probably the most.important thing the second most.important thing first is that these are.contracts between parties that effect.legal rights on real property the second.is that by statute most states require.specific timeframes in which you can.either in which you have to give notice.in Illinois that is a four month notice.requirement on a verbal lease or any.written lease that doesn't have a.specific termination date so if the.parties don't agree to a specific date.in which the the lease terminates or is.expired so like a four year lease that.expires on a certain date for example.then what we do is we revert to the.legal requirement which is a four month.lease if there are no dates written into.the contract or it's verbal and it runs.sort of by handshake deal then the law.steps in and says that it's a it's the.lease will run March 1 through February.28 and that would mean your four-month.notice has to happen by November first.so you know Halloween October 31st you.better have that four month notice of.termination in there.otherwise at least carries over renews.for another year in the holdover.situation just some basics on this right.we're just we're kind of in a conflict.scenario and we're trying to work that.out the tenant remains in possession but.they have to continue to pay rent and.then you know then the landlord has to.provide the notice within the within the.legal requirements you can you can in a.farm situation create this into a year.to year because what we're doing is.obviously operating over the course of a.growing season and any any conflicts.around this it's going to work against.the landlord so one things you think.about in terms of what the statutes do.within this relationship is that they.are they are very much in favor of the.tenant in most cases just given the way.the relationship works and and how.conflicts tend to come about and so what.we typically think something like notice.in particular is the tenant that's going.to get sort of the favorable look from.from the law.just some basics here from Illinois.statute again the four month notice it.is a default component so you can.contract a way you can you can agree to.different dates multiple year leases and.so forth in a situation where the tenant.is not paying the lease they're not.paying the rent on the least and of.course the landlord has the opportunity.to have a little landlords lien on any.crops growing to make to enforce payment.on the lease and in general you know a.lien is an encumbrance it's a claim or.charge against the property so the idea.is that that it's the remedy for the.landlord if the tenants not paying.paying rent and it typically has.priorities just again sort of walking.through some of the basics under the.lease the tenant has possession.possessory interest of the property they.get to use it for reasonable purposes.reasonable use what we typically say is.that that reasonable use means.everything up to but not including the.Commission committing waste on the.property it may require will require.some repairs particularly anything that.you do to damage to cause damage on the.property within the idea of committing.waste for the farm lease is this issue.of proper farming or good husbandry and.at its base at its most basic is we we.do not want tenants the law does not.want tenants to exhaust soil or other.resources but this is very general again.the the statutory and other case law.around this is the tenant pretty much.gets the farm as they see fit unless.they've agreed otherwise within the.lease and so again that written contract.between the parties is incredibly.important if you as the landowner want.to to require something other than.base-level.a couple other things the growing crops.on that farm belong to the tenant until.they're harvested injuries on the.premises generally the landlord is not.liable for that unless it's something.that landowner should have fixed or.dealt with or something that's beyond.the ability of the tenant to work.through tress.pass again this is something that.belongs to the tenant except the.landlord has has a right of entry they.usually have to give notice before doing.so and like I said the state laws are.going to try their best to protect the.tenants including in situations where.the landlord sells the property or if.the landlord passes away and it goes.through through the estate process again.any issues if you want to have an.assignment or sublease that should be.dealt with in your written lease that.should be made clear and understandable.between the parties.when it comes to items on the farm.fixtures barns fences and so forth on.the property you know you can't the.tenant can generally if you bring.something on the property the tenant can.generally take it with them the big.issue is going to be looking at the.damage the potential damage or.destruction to the property so that's.gonna we just had something click off.that's going to be controlling and.important what's the impact on the.property so it's important to.distinguish between things that are.removable things that are permanent and.as always again sort of going back to.our basic first rule in this discussion.this is a contract between the parties.if you want to be specific about these.things you need to get that clear and.written in the lease.as far as waste goes we typically think.of things that are permanent or.substantial injuries it's the kind of.thing that you can do you know on your.own you can tear something up on the.property or you can allow the property.to go into waste or to be damaged over.time because you're not having general.maintenance and upkeep as you as you.possess it so this can include matters.of irrigation this include weeds and it.can include soil erosion and other sort.of environmental or natural resource.challenges that can come about with the.use of the property and in general if.you are if you are committing waste on.that property this is cause for the.landlord to terminate and possibly get.damages in that case so operating in a.responsible manner is incredibly.important under a lease so we mentioned.this you know that's sort of the the far.end of leasing is anything or the far.end of waste where you're causing damage.or allowing the property to go into.disrepair and and and and causing damage.that way the other side of this is to.sort of try to understand what we mean.by good husbandry right so the the the.positive end of this about not.committing waste this this is one of.these areas that I think has not been.updated a whole lot in many many years.so a lot of this goes back to the way.the views that are baked in from from.many decades ago frankly the basic.concept of good husbandry is using and.cultivating the land in a workmanlike.manner and not committing waste not.exhausting the soil by negligence or.improper tillage so a lot of this is.going to depend not just on what you do.on the property it's going to depend on.kind of what the practices are in the.area what makes sense in that farming.area in that region how do other farmers.treat it in the community and that's and.that's sort of the the gray area that if.you run into trouble.they'll have to be sorted out as between.the parties and possibly in court.how do you figure out whether somebody.was reasonable in their actions or.inactions on that property and that's.going to be a fun matter to sort out the.best way of course is to get it written.in the document and have it clearly.agreed to us between the parties this is.something again that's implied it's an.implied promise an implied covenant in.the lease arrangement in the fact that.somebody owns property and it's agreeing.to allow you to possess it for rent over.a period of time and so within that the.law sort of implies that we will take.care of that we will not destroy will.not waste will not let it go into.disrepair for most of for what little.case law there is on this and what.little issues have sort of been fought.out what we see is a lot of historic.sort of keeping this into a production.focused soil productivity and the.ability for that land to maximize yield.but again that's that's those are some.older perspectives if you will and that.is always subject to change if we start.to slowly see trends in litigation in.terms of improving that property.something that we look for is is it is.it going to benefit the real property.interest the value of the land and if.it's so it's it's likely to revert to.the landlord it's going to revert to.land or Lord under the lease unless the.parties somehow have agreed to do.something different one of the questions.and so this sort of goes in my point.about you know we're looking back at.some pretty old law and some.long-standing concepts in this what we.do not know looking forward is as we.talk more and more about things like.soil health and sustainable or resilient.farming how those begin to factor into.any disputes or issues around committing.waste or proper upkeep and good.husbandry on the on the land you know.example this might be something like.cover crops you know is it good.husbandry or the wheats are we improving.the soil how does that carry over in the.case of a terminated lease if that least.at least.terminating and growing cover crop is.still on it these are things that.haven't been sorted out frankly.certainly not in any court cases that.I'm aware of.but these are the kind of questions that.are very important as farmers think.about different practices on that land.and as or as landlords look at things.that might improve the soil and the.productivity and the overall upkeep of.that property is making sure that we.address these sort of things in the.lease in the contract agreement between.the parties so with that background we.had a question over here so here's the.question if we have a written lease and.it has specific to termination dates is.the owner also required to submit.written termination so it depends on how.you write that if you're saying the.lease is absolutely done February 28.2020 then the lease terminates on that.time unless the parties do something.different the the written notice of.termination is for a lease in which.there is not an agreed-upon termination.date already right you can presume that.the notice is in the in the original.lease agreement if it says March 1 2020.then that then your notice is in the.written agreement if you do not have.that notice or excuse me if you do not.have a specific termination date agreed.upon in the contract and that has to be.written it that's the other key part you.cannot have a verbal termination date.that's separate so if it's a verbal.contract or the contract doesn't include.a written provision terminating at least.then you must go through the four month.notice all right so then my other.question where my other comment would be.if we have farming practices on that.farm there does come into a dispute.between the farmer and landowner if if.the it's probably going to go to the.farmers way if it litigates.and if particularly if it's a standard.practice within the area more or less.more or less I mean you always hesitate.to to predict yeah too far down that.line but typically what we see is as.long as the producer as long as the.farmer is operating in a reasonable.manner which we usually are going to.define by what is the standard practice.in the area.and that it's not and obviously.unreasonable or questionable undertaking.then then usually the farmers going to.be allowed to do as they as they think.best on that property but clearly if.you're in a dispute situation one we.don't know how that'll play out and.that's why it's so much better to have.as much of this agreed to in advance by.the parties rather than trying to sort.it out in the gray areas in front of a.judge so is their minimum language.required to terminate at lease their.minimum language so it has to be written.right yeah it has to be a written notice.of termination and it just it it's.because as I understand it it's more.timing than I mean you have to be clear.that you are terminating the lease and.the agreement but I don't know that.there are some actionable words that.have to be in it I don't I don't know.that i if I don't know about that off.the top of my head whether that's uh and.I think yeah I don't forget to cite the.statute I think what you really need is.just sort of a clear termination notice.to the to the tenant and again just to.be clear November 1 is the day written.notice by November 1st by November 4.yeah you've got it I mean with if you.want to be saved you're talking October.31st right you've got to have something.to that in their hand you got to have.that notice to them by November 1st and.any part so here's the other thing right.is any any problems any questions around.that are going to be construed against.landlord because that it that that is a.responsibility on the landlord to follow.that provision so you know you you were.not allowed to give out legal advice on.this sort of process but you would want.to err on the side of being in their.hands before November 1st with a notice.that would be a key thing that you that.as a landlord you would want to avoid.getting caught up in.so on a crop surely through farm deck on.section one part be length of term if.nobody knows ously as well if you have a.rip in writing the lease term is January.1 to December 31st and the lease will be.allowed to expire three months before.the end of the term if not extended is.this sufficient notice if it's in the.written document then that's what.applies to the statutory four month.notice is the default provision if.there's nothing else agreed to by the.parties so if you agree to Jan 131 and.you agree to a notice requirement that's.less than the statute and it's in.writing then the parties can agree to.what they within relative reason can.agree to with what they won in that.contract what you had the four month.notice just remember that's your default.if you fail to put this in the document.or you are on a verbal lease then it's.the default provision that applies.should you get into a dispute and again.it you know that comes into play and.when you're sitting in front of a court.trying to fight out a dispute that's why.that's the provision is in there so.we're gonna move on to variable cash.rent or excuse me.lease types sorry you can talk about it.whatever you want to talk about Thanks.excuse me thanks Gary and good morning.everyone my part of the presentation.deals with lease types and cash francis.not just lease types just as a little.background here or just excuse my uncle.back up here as far as lease types in.illinois illinois is a little different.than the nation the Midwest challi has a.lot of share leases but a lot of areas.of the country there's a lot more owned.land by operators than there are in.other areas so Illinois in the Midwest.in general is a little unique in that we.do have more leasing a lion and non.owner operators of the land and just.tend to give you a little bit of.information and a background about how.much that might be from the FBF em.records in 2018 we're showing about 23%.of the land is owned by the operator.about 32%.crop shared and about 44% cash rent and.just a couple notes on that that does.vary by area the state typically.northern and southern Illinois we've had.more owner/operator owned owned land by.the operators as compared to central.Illinois where we had more released.client and the other thing that's.changed over the last number of years.decades I guess you can say is a.continuous shift away from a slow but.continual shift away from crop share.releases to cash grant leases actually.at one point from the FP FM records.probably few go back about ten years we.still had more crop share land them.cache rented and that has inverted over.the last few years so that's just a.couple things there as far as lease.types the Illinois Society of.Professional farm managers and rural.appraisers also does an annual survey.and a mid-year survey of their members.of various land value and leasing trends.it's always interesting to know what.their information what their information.shows is that on their leases about.forty percent is cash crop share excuse.me about twenty eight percent is.traditional cash rents 23% variable cash.rents and nine percent custom leases and.again that's just of their members of.their leases so that gives us a little.bit of idea of kind of a background of.what the lease types are in Illinois one.thing there we have seen continual.increase in variable cash rents moving a.little bit away from the fixed cash.routes now as far as cash rents what's.always that's always one of the.questions we get over the years as well.what is a fair cash rent or an equitable.cash round there's it's really hard to.answer that there's just a lot of.factors that go into that we do have.some information that's published some.surveys that are done that we can get a.little feel what's going on the slide.that's up there now is information from.national AG Statistics Service from the.USDA does USDA does annual surveys of.state cash rents this slide shows what.the average cash rent for the state of.Illinois is for the going back to 1970.it looks like you can see in 2019 the.average was 224 dollars per acre in 2018.220.three and so forth just a couple things.again what I use this for is more of a.trend of what's going on as compared to.an absolute figure since this is an.average of the whole state but you can.see when we hit the higher-income years.of around 2006 or 7 through 2012-13 we.did have obviously increases in cash.rents significant increases in cash.rents due to the higher income levels.since 2012 or 13 where we've seen.incomes come back down we've seen cash.rents not only stabilized but actually.come down a little bit now we've seen.more last two or three years probably.more a little bit of stability and.average cash rents anybody anyway so.that gives kind of a general idea of.what's been going on in cash rents over.time for the whole state we also have a.survey done by NASA every two years.generally that looks at cash rents by.county and this slide shows those.average rents by counties for the state.of Illinois this was just released.really recently in September I believe.of 2019.so this is a survey from this year the.darker darker blue areas are the higher.rents the lighter shaded counties or the.lower rents the counties that are in.white with no figure our counties that.had an insufficient response to the.survey and so they didn't publish a.figure for those counties unfortunately.just because there wasn't enough.responses and jelly you're gonna see the.higher rents in areas that have the.better sort of protective 'ti of land a.better life a better soils generally in.central Illinois and at some of the.counties in northern Illinois if you.look at those figures again the highest.counties from these basically in the.central part of the state Moultrie was.number one in 297 Macon to 96 pi at 295.those three counties are all right.together right east of here sangman was.290 Logan to 86 traditionally those.counties are the higher cast rats and.you can see in northern Illinois.especially DeKalb again with good soils.up there some of the higher rents.in in Northern Illinois so again this.information comes out about every two.years normally is when they conduct the.survey and does give us a little more.information on cash rent by counties.again this is an average from surveys.taken by Nass so that's a little helpful.annoying kind of trends and where the.higher rents are and so forth.another source of information that we.have for cash rents again is referring.back to the Illinois Society of.Professional farm rangers and rural.appraisers and the surveys they do of.their members they do annual surveys of.their members and this is reported by.about I believe ten different districts.in the state and they base their.questionnaire on rents based on the.quality of land which they divide into.excellent good average and fair just to.give an idea of what that might be ins.what that might mean generally an.excellent ground the soil productivity's.above 133 or basically average corn.yields of two hundred twenty bushels per.acre or more the good ground would have.average corn yields of 180 to 220 bushel.per acre average 160 to 180 in the fair.and below that so that gives you kind of.an idea what the parameters are for.those types of ground you can see I'm.2018 the actual rents and this figure.that's listed there is the midpoint of.their kind of the midpoint of their.average cash rents so kind of a middle.ground figure here for excellent ground.in 2019 that was three hundred two.dollars per acre and you can read the.other figures there what they expect for.2020 is a little drop in those rents as.you can see there especially on the mid.to lower productivity soils they're.excellent they're showing 298 about a.four dollar an acre drop when we look at.the good marriage and fair that's.especially the good marriage.little more of a drop than that so we.are seeing still some pressure on rents.some decrease in rents although we're a.little more stable than what we've seen.but again still pressure on rents I.think because carriers point out due to.the tighter income levels lower income.levels from the really good times that.we have had so justjust we did have a.question about these these nasty old do.you have any sense of for how accurate.the Nass survey is on those actual cash.rents so what we have done over time is.compare these cash rents to what we see.in our Illinois farm business farm.management database and they're very.very clear usually very close to one.another with some variation and so I do.believe that these Nass cash rents are.capturing what's going on in the in the.county having said that there is extreme.variability in cash rents across the.county from one parcel to the next and.you get a get a feel for that just here.so for example in excellent quality.productivity farmland what farm managers.are charging is 302 dollars per acre the.average for that would be twenty to.thirty dollars less compute that.compared to what an average cash rent is.for a number of reasons the Illinois.Society or professional farm managers.had been above the average in recent.years I think generally what we can say.is professionally farm managed ground is.going to keep up.probably more current with what's going.on there cannot with the economics out.there and so we do see these generally.if we talk about average rents we would.see these friends probably kind of at.the higher end from that standpoint just.to the fact that they are professionally.far managed and and do keep keep up and.and then plow these are on a competitive.basis as far as echoes moving ahead Gary.I'll kind of start on this a little bit.Alighieri kinda.filling what I all missed out but Gary.kinda did study a few years ago of using.the mass data looking at zero.statistical former that can be used.based on the mass data counties in.certain crop reporting districts and.also using the County average.productivity index when we say P I on.there that soil productivity index are.basically a measure of the quality of.the soils so losing that as an average.again average pi4 the county and also.location in the state gary did a.statistical analysis and you can see.kind of a form where let he come he came.up with which basically equals again.this is here the statistics here but.minus 147 presses plus the c rd which is.crop reporting district is what that.stands for adjustment which you can see.that figure on the right hand side of.the slide that number there under the c.rd adjustment column plus two point.seven nine times the productivity index.for that county or for that land so he.lists an example there of a bureau.county farm with 125 p i basically the.formula would be minus 147 plus 42 plus.two point seven nine times a P I which.in this case is 125 which equals two.hundred and forty five dollars per acre.in this example again this is a.statistically modeling sample or a.formula based on the P I of the county.and also then the location the county.that being the crop reporting district I.believe when I read went back and read.the farm doc daily and again there's a.farm daily on this that was done and.back in 2017 that you can find the.details of this analysis it explained 91.percent of the variation of cash rents.in the different counties so it was a.that's that's good terms the amount of.variation being explained by this.formula again this was using the Nass.data which again we're kind of.referencing as a little lower than what.we see from the farm managers data.that's produced Gary comments on that so.just just a quick quick quick couple.points here proto.tivity index is specific to the farm.what this formula is meant to do is find.those you know we think even within a.County we have considerable variability.in productivity indexes across farms and.cash rents tend to go up with higher.productivity indexes so rather than just.relying on the County average this helps.you hone in to the closer to what that.average rent will be for that farm two.points about this I'm paper maybe more.points about this one is is we didn't we.are not going to we did this analysis in.2017 we did do the analysis again with.2019 and we're not going to change the.numbers because they didn't change.change enough to matter and again we.don't haven't been seeing changes in in.rents enough to cause those numbers to.change finding the p.i is relatively.easy for a farm and I would refer you.back to the article we with a 20-17.article and the read there that you see.at the bottom the third point is is that.if you find the average cash rent for.the farm I guarantee you there's a lot.of variability around that so and a lot.of that depends on a host of factors one.of the factors that many people think of.is that it that we get lower rents with.family owners and I'll tell you right.now that's not true if you want to see.some of the worst disputes in the world.see them between families by the way so.but yeah this will get you in the.ballpark the other thing is is that that.CRD adjustment is important and using.the positive numbers for example.west-southwest the 55 for that that area.just simply says that that area is.paying more per pie than other areas in.the world in in Illinois we have not.done this analysis for Iowa or other.states so and build our building on that.this formula you think would be.replicable in other states yeah that.this is because basically you'd have P I.and.where you'd have some sort of.productivity yeah measure and being able.to work around from there so Iowa every.state has a different way of measuring.productivity which is Iowa has their.corn suitability index well Illinois has.our productivity index and she can never.get the soil scientists agree on.anything.we'll use this so there you go again.this one last point on their.productivity and Exeter productivity of.soils of the ground amis people did a.long time ago did a lot of work on.measuring those productivity of Illinois.soils and they have a couple ball fans.out when we reference here is Fulton 811.I believe which is the high management.soil so if you do a search for bulletins.811 soils of Illinois it's a thick.publication but it has all this detail.in terms of what the productivity ins.indexes are for the hundreds of.different soils in Illinois moving on.talking a little bit more about rents.gary kind of outlined earlier his.thoughts or projections on incomes for.nineteen and twenty or of course.nineteen we're in right now harvest is.well underway a lot of variability out.there a lot of differences among areas.of the state as usual but basically his.thinking is i will say that's his.thinking is little lower incomes you.know we hear people generally more.pleased with yields and what they.thought but again that's just it's just.such a variation this year it's it's.hard to make any title statements on.that stuff but as you look at as you.look at incomes for corn soybeans and so.forth on farms the last few years.obviously we've seen downward pressure.in the last six or eight years since the.glory days i guess you can call it now.of oh six oh seven through 2012-2013 and.so we're not that the point is we're.seeing maybe maybe stable incomes maybe.down a little more than what we've had.in the last few years but in either case.you know not not an increase sunni we're.going to increase it incomes or we'd see.rents start moving back up so continued.pressure on rents.and again we talk about that or what.adjustments need to be made you really.need to know where you're starting from.you know some rents may not have never.went up as high when incomes were good.and therefore don't need to maybe come.down as much others that that went up.significantly more than need to make an.adjustment maybe more going down so kind.of you got to really look at the.starting point when we talk about.adjustments if adjustments need to be.made so again that's just some of the.economic climate.we're in as Gary's mentioned their.extended period of lower returns that's.true compared to our glory days but.maybe as you look at that chart the.incomes are in last five or six seven.years aren't too much different than in.the early 2000 so and we are you know.he's got this we've got this comment.here of expectations of a Tish now our.soybeans we have seen some recovery of.prices on corn and soybeans so you know.there's some things some positive things.going on out on the pan out there also.but with with downward trend and incomes.the last few years we have seen some.reductions in the financial situation of.farmers and probably less operators out.there willing to pay rad levels that we.had in the pea pass but there still are.financially sound operators out there.obviously that can can pay some pretty.good rents moving on variable cash rents.we've seen more of this come into play.the last number of years last decade or.so especially when we see from variation.from year to year of grain prices input.costs yields and so forth.you know when you think a lot of times.when cash rents have been negotiated a.lot a lot of times the starting point is.maybe the summer the end of the summer.or fall the year before the year we're.talking about so many things can happen.in a so many things can happen in a in a.year a year-and-a-half from when those.rents to negotiated that's I think one.of the reasons we've seen more variable.cash rents come into play this slide.just shows some of the basics maybe of a.variable cash rent would you normally.like to see some base rent in there or.MacCachren I think that's really.important from an FSA standpoint to.qualify as a cash rent as compared to a.crop share lease so that's a really.important factor from that standpoint.rents them can be adjusted up or down.you know based on different formulas.some of that is just simply a percentage.of the gross gross being what the the.gross income is for the corn or soybean.acreage that's being rented probably.including farm program payments in that.like FM FM MFP payments that are.included in the gross in terms of doing.that if we see you know this formula.come up with a rent that's higher than.the base then there's a simply an.additional rent being paid above the.base to to equal what the formula says.you can see different rent factors in.there and this slides got 33% for corn.and 40% for soybeans of gross that's a.negotiable item we're now making a.recommendation of what that should be.that's just an example again that's.something that can be negotiated along.with what the base rent should be if you.look at a percentage of the gross.usually the yield is from the actual.farm in that least the determination the.price being used to figure a gross is.also negotiable typically that may be.one day a month one day a week from say.spring through fall or something like.that an average that out so that's just.an example of some terms that might show.up in variable cash rat leases in day I.just want to highlight something you.said and make sure we clarified this.back in 2014 we're dealing with the.decision factor FSA the Farm Service.Agency through which these program.payments operate will treat anything.with a base cash rent as a cash rent.lease which is important because that.means the payment goes to the through.the tenant to the farmer and so for.those of you not wanting to deal with.splitting payments and doing with all.that this variable cash lease so long as.you've got that base rent and there will.be considered by the F by FSA as a cash.lease on the situation that's very.important.moving on here.well there's this the example at the.bottom there that shows a situation.where we have a 210 bushel per acre.yield price of 360 a rent factor of 0.33.you simply take the 210 times 360 times.0.33 which if the math is correct.hopefully equals $250 if the base was.200 hours and there'd be an additional.$50 payment made on that lease share.rent Arrangements just a couple comments.here and normally in northern and.central Illinois they're probably still.5050 or the typical share rent.Arrangements Southern Illinois you get a.number of difficult different.combination there depending on the area.and so forth over the years we have seed.in some situations some supplemental.rents being added to the share rent.where the landlord the landowner and.tenant agree to have --is-- share rent.yet instead of moving to a cash rent.maybe there's an additional payment made.cover an increase in real estate taxes.or something like that those situations.of course the farmer generally bears all.the labor and machinery --kx expenses.direct operating expenses fertilizer.chemicals and seed are split 50-50.whether the lease calls for of course.the landlord provides the land and pays.the real estate taxes on that again you.can see in that table there the.breakdown from the FB FM records as far.as what we see of owned share rent and.cash rent on these farms just finishing.up here this slide kind of brings.together a couple of things we've been.talking about the blue slide the blue.line is the only Society of Professional.farmers and rural appraisers rents.midpoint of rents on next week excellent.quality farmland over time you can see.peeking around the 2013 time period at.the end of the period of really good.incomes and we've seen some kind of a.downward trend from that point they.almost got up to around $400 an acre.average and now we're down closer to.that $300 an acre.figure on again this is the midpoint of.excellent rents the red line is kind of.average farm rents we've seen on good.ground from some of the farm record.information.the gray line I guess I'd call that just.share rent returns that's basically a.calculation we do looking at returns to.landowners and I would call this maybe.adjusted share rent but returned to.landowners based on a share rent lease.and then kind of a net return figure.adding back in expenses that a crop cash.rent land owner would still have mainly.real estate taxes to give to what we can.call maybe equivalent cash rent so you.can kind of think of that as what a cash.rent figure would be on crop traditional.5050 crop Shera leases so you can see.actually early on there when incomes are.going up returns to those crops your.leases of course adjusted accordingly.every year cash rents from the nola.Society members went up to mirror the.income in the increase in incomes then.as things turned around and incomes.dropped down obviously crop share leases.adjust annually to whatever the returns.are so they immediately show what the.economic return has been cash rents as.Gary calls them are a little more sticky.so those have started trending down but.they don't adjust a downward in one year.maybe of what's happening from the.economic time frame but they have been.coming down so this kind of gives a.comparison of three different ways of.looking at that.okay that kind of concludes that section.and we need to turn this over back to.Jonathan and talk about some of the new.and exciting things we have in leasing.in terms of conservation amendments.exciting indeed although I Jim I gotta.applaud the storm cloud looking picture.before we go into this I'm not sure what.that signals see so just a couple of.things and we talked about so as we went.back through the the least basics we.remember this sort of baseline bottom.you know good husbandry and not.committing waste on the property but we.want to also think looking forward about.how we deal with a variety of challenges.facing farmers and agriculture in.general around conservation around.natural resource issues and.environmental challenges we are seeing.you know continued increase a continued.trend of pressure from the consumers and.the in the food chain that we that these.products for food products are.sustainably sourced and sustainable.production issues we have a serious.effort underway in Illinois and.throughout the Mississippi River Basin.to address the dead zone down in the.Gulf of Mexico.Gulf hypoxia that's largely the result.of nutrients being flushed out of soils.and and deposit it down there in the.Gulf and sort of getting getting a.series of challenges for the fishing.industry and for water quality through.there and this obviously is addressing.water quality issues throughout this.this Mississippi River Basin for.communities and drinking water.challenges like we saw in Des Moines.Iowa and continue to see so these.pressures are coming down on farmers.which is kind of highlighting why we are.working on issues around conservation.and Leasing addendums.we also wanted to sort of keep in mind.in sort of a background issue from the.farm bill the farm bill does require.statute does require compliance on the.land to be eligible for payments and.since 2014 to be eligible for a premium.subsidy or offset in the crop insurance.provisions and that just means that if.it's a highly if the ground is.considered highly erodible you have to.have a plan in place to control for.erosion if there's wetlands involved.that you cannot drain the wetland and.farm on it and you cannot farm on a.previously drained wetland if it was.drained generally if it was before 1990.or drained after 1990 so you can.grandfather before that but these issues.obviously apply to the land and anybody.that rents it and so between landlords.and and and producers tenants you want.to keep these sort of things in mind.because it could impact not just your.eligibility for payments but you may.have to pay things back over that you.received while ineligible I'm gonna skip.through this because we're getting short.on time and and Dale Gary touched on a.lot of this what I were going to talk.about now are these addendums so we have.model leases on on the Fon doc website.we've had them up there for a long time.and here's where we give a shout out to.Don Youth Minh who's done an incredible.work over the years putting these.together and occasionally drags in Gary.for some help on some of that as well.and so we've great model leases up there.again this is just a base model you can.change this however you want.it's a fillable PDF it's just a template.in fact not only the base lease but even.these addendums should be considered.really sort of a template for.negotiations and discussions between the.Landlord and Tenant.about what you want to see on that.property and how you want to see the.land taken care of and always keeping in.mind that you are impacting legal rights.one of the things we advise is you're.going to do use these addendums you do.incorporate by reference those addendums.into the model lease so you want to plug.that in and and make sure that you're.incorporating that so legally speaking.the addendum is pulled into the base.agreement between the parties.so we've got three different addendums.that are out there that are purely.optional and within each one of those.are a series of boxes that it's a.fillable PDF so you can check them to.indicate which provision provisions you.want to be included as part of your.lease so again this this only applies if.you proactively put this in place and.and basically attach it to your lease.the first one is a nutrient management.addendum so this goes to the nutrient.loss reduction challenges in agriculture.in Illinois and throughout the.Mississippi River Basin as an attempt to.work with farmers to voluntarily reduce.and better apply and more responsibly.address and deal with nutrients on the.field particularly tile drained soils in.which things like nitrogen can be.flushed out particularly in the spring.fall and rain period before the before.their crops are take them up so this.nutrient management addendum has a.series of options that you can choose to.include into your lease and again you're.going to have to proactively select one.of these to go into the lease but things.like my you know that an agreement that.the producer will apply it will abide by.the maximum return to nitrogen which is.a scientific tool so on.on the internet you can use it to.calculate what is the recommended amount.of core of nitrogen for corn your.application rate and timing can also be.dealt with in this which will impact.crop uptake and of course nutrient loss.we've got provisions in there that will.would have an agreement that you do not.apply fall fertilizer.there's a provision that are led to.agree to split application and certain.percentage is a pre plant post plant and.those sort of things again what we're.trying to do is provide options to.negotiate around how nutrient.applications are managed on those fields.and a big part of this is particularly.the timing issues of trying to get that.nitrogen closer to the crops growth and.less likely less likely to be lost due.to weather.we have a separate addendum in there to.deal with soil health and so this is the.one that gets into things like your farm.practices tillage reduced till or.no-till conservation tillage dealing.with issues like cover cropping there's.a series of different options to go.through if you're going to adopt cover.crops whether those are over winter or.winter kill cover crops how those will.be dealt with and terminated of course.what we what we know from the from the.science and the research around this is.that no tilling and cover cropping can.add carbon can prevent erosion they can.improve the water holding capacity of.the soil and increase the soil organic.matter these are all things that are.important for soil health and the.productivity and the sustainability of.those soils and so these things can be.important to consider on that land from.a nutrient loss perspective we know that.cover crops will scavenge nitrogen in.the in the months when we're normally.fallow and that that will help keep it.in a plant biomass rather than pushing.out the drains and into into the water.system so we have a number of addendum.option there options in this abandoned.addendum to discuss between the landlord.and the tenant and to work out which.provisions you want tillage systems.cover crops and so forth and there are.provisions in there to help work through.the conversation of whether that rent.should be adjusted or otherwise.addressing how we deal with payments.coming in for those programs and how we.deal with the cash rent where you're.taking on new responsibilities as it as.the tenant and finally we have a.conservation habitat addendum and this.is looking at where where the land has.or is going to have a wildlife or other.habitat on it and it's just a discussion.point and a way to adjust the rent real.quickly here we are out of time and we.apologize for that.jim is hopefully making sure we know.this so we're going to take you right to.where these are on the farm doc website.it's under the agricultural law section.and you can see each of the original.cash lease model lease forms up here and.then below those we have our.conservation habitat addendum I'd go the.soil health homes the best one probably.to look at first.and this is a fillable PDF so this is.also work in progress we hope to get.this even more technologically friendly.and user friendly but right now what it.what the agreement is saying is that if.I choose as the landlord and the tenant.to agree to certain soil health.practices then I'm going to select those.in that document and once selected I can.fill in you know percentages for example.how much crop residue would leave on.their adopt one to one past tillage by.doing so then I have agreed to as the.producer tenant I have agreed to abide.by these provisions and then and then of.course the Landlord can hold you to that.under this contractual arrangement and.how this works so there's quite a bit in.here a lot of options for for farmers.and and and landlords to consider and.again this is where we come back to.always keeping in mind these are.addressing legal rights as between the.parties on real property there's real.money involved and so you are highly.highly highly advised to to consult an.attorney have attorneys work through.this with you but also to consider this.is a very positive negotiation and.discussion between the Landlord and.Tenant about what you want to see as the.landlord on that property and how the.farmer is addressing some of the.concerns we see and then we have some.other resources here on the on the end.of the slide again we want to thank.Ellen oi corn the Nature Conservancy we.started this project working with them.and the Delta Institute that's also.working on land tenure and conservation.issues around leases and we've been in.great discussions with them as well on.how we can continue to improve the tools.that are available the information.that's available and help as much as we.can in this discussion and negotiation.and set of issues around conservation.and soil health and nutrient management.on the farms and so there's some more.for more information out there for those.of you that want to go through it and.I'm sure we'll probably have another.conversation or two about this as we go.and as we learn through.these processes so again we apologize.for going over a little bit we've got.some questions coming in and so we'll.try to get those but we do understand.that you might have some other things to.do here this morning so this information.will be posted as always on the farm.rock website the leases the model leases.and the conservation addendums again are.on the farm doc website under the.agricultural law section you can access.them there.well Gary Dale where we will start okay.we always have a number of questions on.rental rates and lease cash rad levels.and so forth and there's a number of.questions here on that we can kind of.probably group those together to some.extent as far as sources of rent data we.mentioned the Nass data and the Illinois.Society data just one thing the only.Society of Professional farm managers on.their website which you can do a search.for that does produce a really good.publication that comes out every March.of a survey of their members of land.value trends and lease trends if you go.to their website you can download that.PDF and it has I believe ten districts.that they report their findings from and.they do have it's not at county level.but it is district level by types of.quality of the soils as we mentioned so.that that's a good source to get.information from that standpoint other.sources you know if you have a obviously.you don't have banks in the area that.will maybe have farm managers or AG loan.officers they're going to have had a.good handle on what rents are in the.area and may be willing to share that if.you have a professional farm manager in.the area you know the possibly you can.kind of go in and chat with them and get.some ideas so those are some other.sources that you might have a question.here I'm considering shifting from a.50/50 lease to cash rent any tips on how.I approach my tenant or begin the.conversation that's pretty.straightforward just go bring it up most.farmers probably cash rent some ground.so it's not new to them or anything like.that so I think you just explain why you.want to do it in timeframe that you can.do it and start the negotiation process.we talked a little bit about various.variable cash rent leases I do want to.mention.and the question is where are the.advantages and disadvantages in the.management section of the farm dock site.we have some publications there on.leasing in general cash rent and crop.share and variable leases and that.variable cash Bradley's publication.there are discussions of the advantages.and disadvantages to both the operator.and the landlord on on a variable lease.and I just sort of jump in on a couple.things with those questions you know.obviously again this is a it's a.negotiation and a business discussion.around that lease around what the read.should be and you know I think one of.the things that that Gary and Dale have.provided for those of you considering.that if the individual asked that.question isn't understanding and I think.this is important getting into this is.the understanding of the economic.situation farmers are facing and how.that factors into you know their.decision making and some of the.challenges we see in the current.economic environment sometimes and this.was pointed out I think by one of the.question or some of these payments like.MFP might get factored into that.discussion and that makes it difficult.because those are matters that are much.harder to depend upon and understand you.know we don't know exactly how MFP pays.it plays out over time so I think when.you have that discussion.you know Dale's right you want to have.that discussion you want to just raise.it with your operator and give them your.reasons but also you know both both.parties in that negotiation need to.understand kind of the the economic.challenges that are out there and what.it looks like as you go forward which I.think provides some nice discussion.around the variable cash Flint it gets.you a base level for the landlord but.shares a little bit of that that.potential risk out there particularly.provides some upside where things go.well in a year so those are those are.some things to think about where can I.find the soil P I map Gary do you know.though there's a couple where I would.refer you to on the soil P is is there's.a a no November 2017 article on farm doc.daily that has those links there's a.couple places yet you can find.P is for a particular field.NRCS U has a tool where you can outline.the field and it will come back with the.soil productivity rating as well as.granular has a tool for doing that as.well.811 is also linked in that article so.you can find that article 811 811 does.not have a have a map it lists different.soils and there P is so you won't find a.map if you're going to bulletins 811 but.there's other places that that will give.that what are some good options to add.some flexibility to Elise so here I.think we might have disagreement between.lawyers because I think in a written.document one is little left to question.as possible but when it comes to the.cash rent side so yes I would you know.frankly I'm a fan of variable cash.leases I think that causes you not to.have to negotiate every year I think we.gave a pretty good example of a pretty.straightforward and get cash lease in.this priest and Faribault cash base in.this presentation always the hard part.with the variable lease is coming up.with the base cash rent and those those.values and that's always more.negotiation than just the correct cash.rent but the advantage of doing the.variable cash rent is you probably have.to renegotiate at less damn one point I.do want to make that and the variable.cash for a lease is sometimes we've got.into the thinking that once I negotiate.and put in place a variable cash rat.lease you know which we think then and.it does adjust year-to-year to the.conditions in terms of the lease that I.can kind of walk away and not worry.about it well I've seen the last seven.years of my full-time career I was in AG.lending and seeing some of these leases.and things do change over time cost.structures changed and things like that.so even though you have a variable cash.rent lease they are probably going to be.more workable for more years in a row.than just a fixed cash rallies but I.think from maybe every three or four.years five years one probably doesn't.need to sit down and look at those two.terms to see if there is any adjustments.that may be needed to be negotiated.because of the change in economics that.is happening out there so where the.custom leases fit and returns to.landowner and operators and it obviously.depends on so a custom lease.typically has the owner the farm.actually acting as the operator of the.farm and hiring out machinery operations.and then paying a machinery operation.fee - - to the operator so that's.usually somewhere in the hundred to one.hundred and twenty dollars per acre for.complete set of operations how that.compares to cash for hence varies on the.year this year the past couple years.probably a cash rents depending on where.your cash rent has been the cash rent.site has done better I mean it just.depends I mean you're gonna be marketing.the grain and and and those sorts of.things so it really does depends I would.say historically over time I think and.we've seen this from maybe surveys of.the again with professional fire.managers the custom leases probably do.return more over time to the landowner.but you and economically that kind of.makes sense they're bearing all the.risks they're paying all the inputs and.things like that and just having the.machinery operations custom down or paid.for so it probably over time should.return more but there is more risk more.investment more management needed by the.landowner and things like that so it's.not for most people but might be for.solemn so how do you feel about the.national community or NC CPI data.actually I have from what I've seen it's.a pretty pretty pretty good data it does.it does a pretty good job of ranking.fields by productivity index having said.that having said that I'm not a soil.scientist and unsure that there would be.considerable argument about whether that.is.or not it goes in the right direction.right it goes in the right direction.behind err on the side of more data is.probably gonna be helpful as we sort.these another time right now how do i.best recover the value of tile.investment and variable or cash rent and.my lawyer friend here is a shaking his.head over this one with this one but uh.so variable can't so if we're making if.tile will generally increase yields and.that is pretty consistent and over time.it's a it's a good investment.we do see problems with you know in a.rental situation of getting those.incentives aligned properly that's how I.would say it we see a number of farmers.being willing to to aid in putting in.tile for which they will want a longer.term lease and they do have to have a.longer much longer term lease and a lot.much longer term commitment to farmland.if they're going to share in those cost.and then the better way that's sharon.that would be a variable cash lease.because presumably your your your.returns are going to go up now shaking.my head because this could be a long.this could be a topic on internet to.itself yeah dealing with these sorts of.things across improvements on the land i.think we have probably exhausted.everybody's time and patience today we.thank you for tuning in this morning to.talk about leases I mean what better way.to kick off a Friday then a lease.discussion but we appreciate everybody.taking the time again we refer you the.farm back website for more resources and.articles and stay tuned as we will find.our way through some more of these.issues and work on them as we go so.thank you and have a great weekend.

How to generate an electronic signature for the Oklahoma Real Estate Commission Lease 2013 2019 Form online

You must into a adaptable solution to electronic signatures for Oklahoma Real Estate Commission Lease 2013 2019 Form . CocoSign will provide you with what you have been Finding, a single online app that does not need any other installation.

You just need to have a high quality internet connection and your preferred device to work with. Follow this instructions to e-sign Oklahoma Real Estate Commission Lease 2013 2019 Form easily:

  1. Click the document you want to sign. You can also simply choose the required document into this section.
  2. Choose the category 'My Signature'.
  3. Select the types of signatures you need to place. It can be drawn, typed, or uploaded signatures.
  4. Once you have selected the type, choose 'Ok' and 'Done'.
  5. Download the form after signing.
  6. You can also fax it.
  7. Once you are done, save it. You can also fax it with other people.

CocoSign makes electronic signatures on your Oklahoma Real Estate Commission Lease 2013 2019 Form more adaptable by providing multiple ways of merging two documents, adding additional fields, invitation to sign by others, etc.

Due to our convenient features, CocoSign's eSignature tool can help users to eSign your PDF file well on all the electronic devices like mobile android or iOS, laptop, computer, or any other relevant operating system.

How to create an electronic signature for the Oklahoma Real Estate Commission Lease 2013 2019 Form in Chrome

Chrome has been more and more popular as a convenient browser due to its comprehensive features, useful tools, and extensions. In this way, you can keep all your tools on your home screen in front of you. You just need to choose the form that fulfill your need without searching for it in a long time.

Using this useful extension feature offered by Chrome, you can add CocoSign extension to your browser and use it whenever you need to write eSignatures in your documents. With CocoSign extension, you will also get other features like merge PDFs, add multiple eSignatures, share your document, etc.

Here are the basic key elements you need to follow:

  1. Note the CocoSign extension on Chrome Webstore and choose the option 'Add'.
  2. Log in to your account if registered before, otherwise choose signup and register with us.
  3. On your Oklahoma Real Estate Commission Lease 2013 2019 Form , right-click on it and go to open with option. From there, choose CocoSign reader to open the document.
  4. Choose 'My Signature' and write your own signatures.
  5. Place it on the page where you require it.
  6. Choose 'Done'.
  7. Once you are done, save it. You can also fax it with other people.

How to create an electronic signature for the Oklahoma Real Estate Commission Lease 2013 2019 Form in Gmail?

Mailing documents is so useful that majority of businesses have gone paperless. Therefore, it will be a great selection if one can esign form online from Gmail in a straight line. You can do it by adding a CocoSign extension on your Chrome. Here is what you need to do:

  1. Add the CocoSign extension to your browser from the Chrome Webstore.
  2. Log in to your pre-registered account or quickly 'Sign up'.
  3. Open the email with the document you need to sign.
  4. From the sidebar, choose 'Sign'.
  5. Draw your electronic signatures.
  6. Generate them in the document where you need to.
  7. Choose 'Done'.

The signed file is in the draft folder. You can easily share it to your required mailing address.

Working with electronic signatures in Gmail is such a quick and cheap tool. It is specifically designed for people who work from anywhere. By CocoSign, and you will surely be among our hundreds of happy users.

How to create an e-signature for the Oklahoma Real Estate Commission Lease 2013 2019 Form straight from your smartphone?

mobiles are the most useful electronic devices used nowadays. You must be interested in using e-signature from this most used electronic device.

What's more, with eSignature capability on your mobile phone, you can e-sign your document anytime, anywhere, away from your laptop or desktop. You can work with CocoSign electronic signature on your mobile phones by following these key elements:

  1. Direct to the CocoSign website from your mobile browser. Login to your CocoSign account or sign up with us if you don't have registered before.
  2. Click the document you need to e-sign from your mobile folder.
  3. Open the document and choose the page where you want to put the electronic signatures.
  4. Choose 'My Signatures'.
  5. Write your electronic signature and insert it to the page.
  6. Choose 'Done'.
  7. Print the document or directly share through email.

That's it. You will be done signing your Oklahoma Real Estate Commission Lease 2013 2019 Form on your mobile phones within minutes. With CocoSign's remote signature tool, you no longer need to worry about the usage of your electronic signatures and use our app of your choice.

How to create an e-signature for the Oklahoma Real Estate Commission Lease 2013 2019 Form on iOS?

Many apps have a more complex setup when you start using them on an iOS device like the iPhone or iPad. However, you can esign form online safely with CocoSign, either using the iOS or Android operating system.

Below instructions will help you to e-sign your Oklahoma Real Estate Commission Lease 2013 2019 Form from your iPad or iPhone:

  1. Add the CocoSign app on your iOS device.
  2. Write your CocoSign account or login if you have a previous one.
  3. You can also sign in through Google and Facebook.
  4. From your internal storage, click the document you need to e-sign.
  5. Open the document and choose the space you want to place your signatures.
  6. Write your electronic signatures and save them in your desired folder.
  7. Save the changes and send your Oklahoma Real Estate Commission Lease 2013 2019 Form .
  8. You can also share it to other people or upload it to the cloud for future use.

Select CocoSign electronic signature solutions and enjoy effectively working on your iOS devices.

How to create an electronic signature for the Oklahoma Real Estate Commission Lease 2013 2019 Form on Android?

These days, Android gadgets are commonly used. Therefore, to assist its customers, CocoSign has developed the app for Android users. You can use the following intstructions to e-sign your Oklahoma Real Estate Commission Lease 2013 2019 Form from Android:

  1. Add the CocoSign app from Google Play Store.
  2. Login to your CocoSign account from your device or signup if you have not been pre-registered.
  3. Choose on the '+' option and add the document in which you want to place your electronic signatures.
  4. Select the area you want to put your signatures.
  5. Generate your e-signature in another pop-up window.
  6. Place it on the page and choose '✓'.
  7. Save changes and send the file.
  8. You can also share this signed Oklahoma Real Estate Commission Lease 2013 2019 Form with other people or upload it on the cloud.

CocoSign helps you to write lots of electronic signatures at anytime. Connect with us now to automate your document signing.

Oklahoma Real Estate Commission Lease 2013 2019 Form FAQs

Note answers to questions about Oklahoma Real Estate Commission Lease 2013 2019 Form . View the most useful topics and more.

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Are Home Warranties Worth It?

I recently had an electrical issue at my home and hired an electrician, highly recommended amongst neighbors. As we were talking, I mentioned another issue & he took a closer look at my panel. Long story short, he discovered what could have caused an electrical fire (see pics) and recommended some additional work. He mentioned that his call & the addl work would have been covered by a certain major warranty company for whom he is also a contractor. He also mentioned that it’s common practice for warranty company repair men to make repairs that prevent future problems from being covered. I don’ Continue Reading

Is my real estate agent being honest? He said he has to pay $100 to Zillow each time someone fills out the contact listing agent form on my house. True?

Not to my knowledge. In my area, the way Zillow works is it pulls listings from the MLS (multiple listing service) unless I check a box that says the seller prohibits this. So it’s no more work for me to list your property on Zillow than in the MLS. Zillow sells real estate agents “leads” (queries about specific properties) or (in a new program) takes a % of the brokerage fee after a property has closed. Contacting agents online is free to both parties.

If I'm going to rent out my house, how do I come up with a lease? Do I need a real estate lawyer or some kind of professional to help me?

You need to educate yourself on this and all other aspects of landlording before you rent to anyone. Some jurisdictions require the use of a standard lease, which you can find out by Googling the terms “landlord", “tenant" “law" and your city, state or province to find the relevant legislation. Then read it thoroughly.

We just signed a 12mn lease in Texas and, we found out that the house smells. The real estate agent/management had refused to cancel our lease and declined to do something about the smell too. How can we get out of this lease without paying a fine?

The health department may be a help. The real estate agent/management people are not going to help you do anything, they have your money and you owe them even more. Do you have children?

Is a listing agreement a service contract?

Read the contract. Most extended warranty contracts that have a cancelation feature (I've had a few) require you to contact the company that provides the warranty coverage, not the dealer, to request a refund. If the contract does not have a cancelation feature, then you are stuck with it once you sign the contract and drive off the dealer's lot.

How much do home warranties usually cost?

It depends. It depends on what other insurance you have, it depends on why you're in a nursing home, it depends on your income, somewhat. First, Medicare only pays for hospital and rehabilitation, and it will only kick in for skilled nursing/rehabilitation care AFTER a three midnight stay in a hospital (or within 30 days of discharge from a skilled center). An individual gets 100 days of Medicare coverage a year, no roll-overs. Generally, according to your State, according to which ginormous Health Care Company owns the particular facility into which you admit for skilled nursing care and/or therapy, and what your secondary insurance is and pays, after 20 days, you will have a cost-share of around $200.00/day. So, if you can get in-and-out in 20 days, Medicare covers it all. That's very, very rare. This is where the sucker's game of skilled nursing/rehabilitation starts: you would think 3 weeks recovery time would be sufficient so you could manage at home with help, right? According to what was wrong with you when you came in, it's possible, but improbable because Medicare requires us to do a form called "Prior Level of Function" upon admit. This form tells us all about what you could do, couldn't do, need to do, and Medicare makes us meet those goals or explain why we cannot. Three weeks is not long enough to get your overweight, deconditioned, new hip-totin' carcass back to ready to climb 4 stairs 7 times a day with a dog on a leash. Not safely anyway. It'll take a good five days still to get the anesthetic cleared out of your system. Most people have a cost-share, which is where most people's secondary insurance picks up. We- in my Facility- will try to get you out as quickly and safely as possible if you do not have secondary insurance, and we will suggest and assist you apply for Medicaid, which will help pick up some of these costs, and pay for home health care should you still require some assistance after discharge. However, Medicaid has a catch: There's an income cap. In most states, you cannot have over $2,000.00 income per month. You also cannot have transferred tangible assets in the last five years- say, sold your house and gave the kids the money while they gave you a bedroom and half bath in return. Medicaid is for those who did not plan for retirement- or whose plans fell through. Medicaid pays for long-term care. Residents on Medicaid do not have any out-of-pocket costs associated with the medical part of their stay/residency. In fact, they get around $100.00 a month spending money. So, for your breakdown: Medicare will pick up the total cost of a skilled nursing/rehabilitation stay for the first 20 days, after which there is a co-pay of $200.00 (approximate), and if you do not have a secondary insurance to cover that, you pay out of pocket. If you come in Medicaid (for long-term Residency, respite or skilled therapy/nursing prior to discharge) you pay nada, nothing, zip, zilch. However, if you are a Medicaid Resident, your income has been effectively taken over by Medicaid, and you receive around $100.00 a month, that's it, that's all.

How much is a residential service contract?

Personally I stay away from residential and office. We have one property with 4 apartments on the 2nd floor and would rather not have them. Residential: If you plan on managing them, when tenants have problems, typically it will happen when you are home for the night. Damage is more common and more visible. People care more about fine details where they live vs. being forgiving in places of business. Office: Typically high turnover causing more work during vacant times. Commercial: 2 parts Industrial: Lower maintenance costs, many times tenants maintain their own areas, typically stay longe Continue Reading

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