Florida Relinquishment Provision - All offset Wells

State:
Multi-State
Control #:
US-OG-716
Format:
Word; 
Rich Text
Instant download

Description

This clause addresses the responsibilites in the event any Party elects not to participate in the drilling of a well and provides for the relinquishment of interest and assignments by that party.

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FAQ

Chapter 720 of the Florida Statutes empowers and controls the ability of HOAs to enforce their rules, whereas Chapter 718 of the Florida Statutes empowers and controls the ability of COAs to enforce their rules.

Section 718.120(1), Florida Statutes, provides: "Ad valorem taxes, benefit taxes, and special assessments by taxing authorities shall be assessed against the condominium parcels and not upon the condominium property as a whole.

Stat. § 718.3027. Section 718.3027 - Conflicts of interest (1) Directors and officers of a board of an association that is not a timeshare condominium association, and the relatives of such directors and officers, must disclose to the board any activity that may reasonably be construed to be a conflict of interest.

377.371 Pollution prohibited; reporting, liability. 377.38 Illegal oil, gas, and other products; sale, purchase, acquisition, transportation, refining, processing, or handling prohibited. 377.39 Seizure and sale of illegal oil, gas, or product. 377.40 Negligently permitting gas and oil to go wild or out of control.

Chapter 718 of the Florida Statutes, also known as The Condominium Act, is a chapter of law that governs condominiums in the State of Florida. The Condominium Act should be read in conjunction with Chapters 61B-15 through 25, 45 and 50, Florida Administrative Code.

§ 718.111(11)(f) states that the association is responsible to insure the buildings in the community including all windows and sliding glass doors, common areas, and anything for which the unit owner is not responsible under the law.

631.64 Recognition of assessments. ?Charges or recoupments shall be separately displayed on premium statements to enable policyholders to determine the amount charged for association assessments but may not be included in rates filed and approved by the office.

Section 718.112(2)(l), Florida Statutes, requires certain condominium associations to retrofit their common elements, association property, and units with a fire sprinkler system in ance with Chapter 633 (?Florida's Fire Prevention Code?) and any other code, statute, ordinance, administrative rule, or regulation ...

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Florida Relinquishment Provision - All offset Wells