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Illinois Family Farms Bankruptcy Update….
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Posted 12/24/2011 11:48 (#2122294 - in reply to #2120287)
Subject: RE: Illinois Family Farms Bankruptcy Update….



Most of us have no dog in this fight. But a lot of us can learn from what went down here. And I learn from what other folks have posted on this forum.

Would you read a rental contract a little closer because some outfit had a goofy cancellation clause put in their contract?

Would you take some of the promoted 'best practices' with a bit more caution, and try something on a smaller scale before committing your entire operation to it?

From other sections-

Would you write a land purchase agreement just a bit different after learning about other folks buying land with easments that make it hard to farm?

Would you look at a CRP contract a bit closer before you leased some land, or bought the land?

Would you leave your money in a floating account at a brokerage house, because nobody has lost cash there before?

Would you store your grain at the elevator, where you are an unsecured creditor? (Basically, how much are you willing to risk?)

Some of the folks here may know everything, but I can't afford to learn all of this by myself. I don't have the cash or the time. We can get hung up on the moral high ground, or the point of view being expressed, or the 'easier to say than do' responses that are proposed.

This farming stuff can be tougher than it seems to be in the magazines. Not everybody has experienced that.
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