A Cook Brood Mare Lease Agreement is a legally binding contract specific to the state of Illinois that outlines the terms and conditions between the owner of a brood mare and the lessee who wishes to use the mare for breeding purposes. This agreement is vital for ensuring the rights, responsibilities, and expectations of both parties are clearly defined. In Illinois, there are primarily two types of Cook Brood Mare Lease Agreements: 1. Full Lease Agreement: This type of agreement allows the lessee to have exclusive possession and control over the brood mare for a defined period. The lessee assumes all responsibilities related to the mare's care, including feeding, veterinary costs, and any necessary breeding-related expenses. The agreement typically covers the possession period, breeding terms, foal ownership, and any potential liabilities. 2. Partial Lease Agreement: This agreement allows the lessee to utilize the brood mare for a specific purpose, such as breeding, without assuming complete ownership or control. The owner may retain certain breeding rights or impose limitations on the lessee's use of the mare. This type of lease often involves cost-sharing arrangements for the mare's care and breeding expenses. Key terms and provisions commonly included in a Cook Brood Mare Lease Agreement for Illinois: 1. Identification: The agreement should include detailed information about the mare, including her registered name, breed, age, and any distinctive markings or traits. 2. Lease Term: This section specifies the start and end date of the lease agreement, ensuring both parties are aware of the agreed-upon timeframe. 3. Lease Payment: The agreement should outline the agreed-upon lease fee or payment arrangement, indicating the frequency and method of payment. 4. Mare Care: This section details the responsibilities of both parties regarding the care of the brood mare, including feeding, veterinary care, vaccinations, and regular check-ups. 5. Breeding Terms: If the purpose of the lease is for breeding, this segment will outline the breeding arrangements, including how, when, and with whom the mare will be bred. This may include provisions for mare management during pregnancy, foaling arrangements, and post-foaling care responsibilities. 6. Ownership of Foal: The agreement should address the ownership rights of any resulting foals, clarifying whether the owner or the lessee will retain ownership and any potential buy-back or co-ownership options. 7. Insurance and Liability: This section highlights the responsibilities of both parties regarding insurance coverage, including who will bear the costs in case of injury, illness, or loss of the mare. 8. Termination Clause: The agreement should include provisions for terminating the lease early, whether it is due to a breach of terms, mutual agreement, or unforeseen circumstances. By having a Cook Brood Mare Lease Agreement tailored specifically for Illinois, both the owner and the lessee can ensure their rights, expectations, and responsibilities are protected throughout the leasing period. It is advisable for all parties involved to seek legal advice when drafting or entering into such agreements.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.