Klepper

This is an action for declaratory relief to determine the rights of the parties under an agricultural lease having a term of 10 years with an option to extend for an additional 10 years. The trial judge declared the lease valid as to the original term and invalid as to the option.

Plaintiffs appeal from that portion of the judgment declaring the option invalid. Defendant appeals from that portion of the judgment declaring the original term valid.

In June 1962, plaintiffs W. A. Klepper and Ba Mae Klepper, husband and wife, executed an agricultural lease with defendant, Martha Johanna Hoover. The land leased by the Kleppers from Mrs. Hoover consisted of 640 acres; the term of the lease was 10 years commencing January 1, 1963, and ending December 31, 1972. The lease gave the lessees the right, at their option, to extend the term for an additional 10 years beyond the original term, the option to be exercised by written notice to the lessor at least 30 days prior to the expiration of the initial term of the lease. The option, which has not yet been exercised, may be exercised at any time up until the 1st day of December 1972.

The parties contemplated a long term development…