d. A provision for review and rent adjustments at each five year anniversary,
based upon updated county or municipal tax rolls for Category 1 Standard Leases, and based
upon the All Urban Consumer Price Index - All Items (CPI), or an appraisal paid for by the
lessee, whichever would indicate the greater increase for Category 2 Standard Leases. Said
appraisal must deduct the value of any improvements belonging to the lessee which
substantially enhance the value of the property. e. A casualty clause providing
that in the event of destruction by natural causes of improvements on the leased premises,
the lessee may opt to terminate the lease agreement, provided he leaves the property in a
condition equal to or better than its condition at the inception of the lease.
f. A provision requiring the lessee to maintain a policy of liability insurance
and to indemnify and hold harmless the lessor from and against all claims for damages or
injuries, no matter how caused.
g. A provision that in the event of the death of the lessee, the lease shall
descend to his heirs at law who may assume the lease, its rights, duties and obligations.
h. The right to assignment or sublease, upon written approval of the Secretary
of State, which approval shall not arbitrarily be withheld. (Cf. Rule 5 C(2)c.(i)(b), p.
10)
i. A provision guaranteeing public access during the term of the lease if public
access is afforded at the time the lease is contracted or if the lease is for a new
activity, unless the lessee is a qualified industrial applicant. Industrial applicants who
are unable to afford meaningful public access to the premises may seek a waiver of this
requirement. However, leases which fail to provide such public access are to be
discouraged.
D. Aquaculture Lease
1. Applications for aquaculture leases shall include the
following:
a. Name, address, telephone number and social security number of applicant;
b. Legal description and acreage of parcel sought to be leased;
c. Two prints of a survey of the parcel sought to be leased prepared, signed and
sealed by a person properly registered by the Mississippi State Board of Registration for
Professional Engineers and Land Surveyors or an agent of the federal government acceptable
to the Secretary of State;
d. Description of the aquaculture activities to be conducted, including whether
such activities are to be experimental or commercial, and an assessment of the current
capability of the applicant to conduct such activities;
e. Statement setting forth the reasons such a lease would be in the public
interest;
f. A list of the names and addresses of all claimants of littoral or riparian
rights in or adjacent to the parcel to be leased, and all lessees of adjacent or
contiguous properties;
g. Statement of the impact of the proposed use of the public trust tidelands
sought to be leased on the ecology of the area;
h. A $150.00 non-refundable application processing fee.
2. Each aquaculture lease shall include the following terms
and provisions, but not in limitation thereof:
a. The term of the lease which shall not exceed the statutory term, with an
option to renew.
b. The amount of the annual rent which shall be negotiated but which in no event
shall be less than $25.00 per acre to be paid at the time of the execution of the lease
and on each successive anniversary date thereof.
c. A provision for payment of the variable portion of lease fee, if any, at the
end of lessee's fiscal year.
d. The disposition to be made of all improvements and animal and plant life upon
the termination or cancellation of the lease.
e. The right to assignment or sublease, upon approval of the Secretary of State.
f. Casualty clause providing that in the event of destruction by natural causes
of the aquaculture venture on the leased premises, the lessee may opt to terminate the
lease agreement, provided he leaves the property in a condition acceptable to the lessor,
or in its natural state.
g. A clause assuring that lessee will maintain adequate casualty insurance, the
proceeds of which will be used for salvage operations in the event of catastrophic
destruction.
3. The parcel leased shall be identified, well marked and
shall have, except when it will interfere with the development of the animal and plant
life being cultivated by the lessee, reasonable public access for boating, swimming and
fishing. All limitations on the public use of the parcel leased as set forth in the lease
shall be clearly posted in conspicuous places by the lessee. Each parcel leased shall be
marked in compliance with the rules and regulations of the U.S. Coast Guard and the U.S.
Army Corps of Engineers.
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