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As a way to develop his vast landholdings, Van Rensselaer granted tenants lifetime leases at moderate prices. [5] During his life, when tenants were in financial constraints, he preferred to accept rent in the form of goods and services in lieu of cash, allow rents to accumulate, or accept partial payment rather than evict them. [5]
When Van Rensselaer inherited the manor, he developed the land by offering lifetime leases to prospective farmers; by not having to make a cash payment up front as in a purchase, and instead paying the relatively moderate annual rent Van Rensselaer charged, tenants were able to devote more of their capital to improving their farms and making ...
Moffat Tunnel – leased to Union Pacific Railroad by the state of Colorado under a 99-year lease until 2025. [5] A lease extension of 25 years was agreed to after the initial 99 years expired. [6] [7] Ontario Highway 407 Express Toll Route – leased to private company by the Ontario provincial government under Premier Mike Harris for C$3.1 ...
To gain better electricity service and to assure the electric utility a steady supply of customers instead of a slow attrition of expiring lifetime leaseholders, most of the Appalachian Club members agreed to convert their lifetime leases to 20 year leases. There was assurance of lease renewals, and this occurred in both 1952 and 1972.
Springfield, circa 1936–1941. One of the oldest mansions in Mississippi, the Springfield Mansion was built between 1786 and 1791. The original plantation had over [2] 3,000 acres (12 km 2) and was purchased by Thomas M. Green Jr., a wealthy Virginia planter, in 1784.
The Walker sisters finally sold the farm in 1941 in exchange for a lifetime lease. [7] A local legend claims the sisters were paid a visit by President Franklin Roosevelt who convinced them to sell the land (Roosevelt was in the area to dedicate the national park in 1940, but there is no known record of a visit to the Walker place).
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His father's side of the family held a lifetime lease on the old Los Flores Rancho in San Diego County. [1] May lived in his 10,000 square foot "ultimate ranch house" located on a 15-acre site in one of the canyons in the Santa Monica Mountains near Brentwood. May was a record collector and amateur saxophone player and piano player; his home ...
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