Development Lease Agreement Without Termination Clause

State:
Multi-State
Control #:
US-OG-815
Format:
Word; 
Rich Text
Instant download

Description

The Development Lease Agreement Without Termination Clause is designed to facilitate the continued development and production of leased premises without the option for termination. This form allows the lessee to proceed with the drilling of additional wells after the initial well is completed and emphasizes the need for prudent operational diligence. Key features of the form include clear expectations for both parties regarding the development timeline, responsibilities for well maintenance, and marketing of produced resources. Filling the form requires users to insert terms related to development timelines and any specific conditions unique to their lease. This document is particularly useful for attorneys, partners, and owners as it provides a clear framework to manage their leases effectively. Associates and paralegals can utilize this form to streamline lease agreements, ensuring compliance with legal standards and operational efficiencies. Legal assistants may assist users in modifying the document according to state regulations or specific project requirements. This agreement serves as a fundamental tool for fostering collaboration among stakeholders in the oil and gas industry.

How to fill out Reasonable Development?

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FAQ

Under California state law, a landlord can terminate a month-to-month tenancy by serving a 30-day written notice if the tenancy has lasted less than one year, or a 60-day notice if the tenancy has lasted more than one year.

If you are a tenant, you should not end the tenancy prematurely without notifying the landlord. If you wish to surrender his lease, you have to obtain the consent of your landlord. While the landlord is not obliged to accept the surrender, he may request for monetary compensation from you.

Lend-Lease Act (1941)

If you break your lease, you may have to forfeit your security deposit which is typically a deposit which you pay your landlord when you sign your tenancy agreement with your landlord. It is typically equal to one or more months of rental.

Lease Termination Clause In general words, the landlord releases the tenants from any future obligations, and the tenants surrender the premises. Keep in mind that the landlord may still be able to charge an extra rent amount or fee for early termination.

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Development Lease Agreement Without Termination Clause