Sample Surface Lease Agreement With Automatic Renewal

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-254
• Format: Word; Rich Text

Description

The Sample Surface Lease Agreement with Automatic Renewal serves as a legal document between a Lessor and a Lessee for the lease of specific lands for oil production and related activities. This agreement allows the Lessee to use the land for constructing and operating facilities necessary for oil extraction, with a defined initial term and an option to renew on an annual basis, provided the Lessee continues to use the land for the designated purposes. Key features include the requirement for advance rental payments, responsibilities for property maintenance, and stipulations regarding tax payments on the leased premises and any structures added by the Lessee. It outlines the ownership of fixtures and equipment, with provisions for their removal and restoration of the land upon lease termination. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in transaction management or real estate, as it provides a clear framework for negotiations and helps ensure compliance with legal standards. It can also serve as a reference for customizing lease agreements specific to users' needs while addressing various legal implications associated with surface land leasing.