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From: Webster's Revised Unabridged Dictionary (1913)

 Farm v. t. [imp. & p. p. Farmed p. pr. & vb. n. Farming.]
 1. To lease or let for an equivalent, as land for a rent; to yield the use of to proceeds.
    We are enforced to farm our royal realm.   --Shak.
 2. To give up to another, as an estate, a business, the revenue, etc., on condition of receiving in return a percentage of what it yields; as, to farm the taxes.
    To farm their subjects and their duties toward these.   --Burke.
 3. To take at a certain rent or rate.
 4. To devote (land) to agriculture; to cultivate, as land; to till, as a farm.
 To farm let, To let to farm, to lease on rent.