Contract for Sale of Growing Crops
1. Introduction. Agreement made on [date] by and between [name], residing at [address] (Seller), and [name], residing at [address] (Buyer).
2. Description of Crop and Purchase Price. Buyer will buy and Seller will sell Seller's entire crop of [name] now growing (or, to be grown) at Seller's farm located at [address] for ---------- cents ($0----------.) per pound.
3. Payment of Purchase Price. Buyer will pay the purchase price within [number] days after the entire crop is delivered to Buyer.
4. Delivery. Seller will deliver the entire crop to Buyer within [number] days after the crop is harvested.
5. Advances by Seller and Seller's Security. Buyer will advance to Seller, upon Seller's request therefore, certain sums, to wit: ---------- dollars ($----------) on or about [date] for cultivating purposes, and ---------- dollars ($----------) on or about [date] for harvesting purposes. These advances are deemed a part payment on the purchase price of the crop. These advances will bear interest at the rate of ---------- percent (....%) per year from the date they are made to the date of delivery of the crop. If Seller fails to deliver the crop to Buyer at the time and place specified in this Contract, these advances will be repaid by Seller to Buyer at the time delivery should have been made. Seller will evidence this debt by the execution of Seller's promissory note, secured by a mortgage lien in favor of Buyer upon the crop.
6. Insurance. Seller shall keep the crop insured at all times for an amount at least equal to the advances made to Seller by Buyer. The policy of insurance is to be delivered to Buyer and must be made payable to Buyer, as Buyer's interest may appear. If Seller fails to insure the crop, Buyer may insure it, at Seller's expense, and Seller hereby denotes Buyer as Seller's agent for this purpose.
7. Seller's Warranties. Seller warrants that the crop delivered under this Contract will be of good marketable quality, fit for human consumption.
8. Liquidated Damages. Should Seller fail to deliver the crop to Buyer after it has been harvested, Seller agrees to pay Buyer ---------- cents ($0----------) per pound for the crop as liquidated damages for the failure of delivery.