This is a Reasonable Development form. The assignee shall drill all additional wells necessary to develop the leases and the land they cover, necessary to protect them from drainage, as would a reasonably prudent operator; provided, however, without limitation of the foregoing, assignee shall drill all development, protection, or offset wells which may be required under the terms and provisions of the oil and gas leases on the lands, to the depths assigned.
North Carolina Reasonable Development
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US-OG-507
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FAQ
Authority. A local government may by ordinance regulate the subdivision of land within its planning and development regulation jurisdiction.
A development agreement is a voluntary contract between a local jurisdiction and a person who owns or controls property within the jurisdiction, detailing the obligations of both parties and specifying the standards and conditions that will govern development of the property.
What is Chapter 160D? Chapter 160D of the North Carolina General Statutes consolidated city- and county-enabling statutes for development regulations (formerly in Chapters 153A and 160A) into a single, unified chapter. Chapter 160D placed these statutes into a more logical, coherent organization.
§ 160D-1004. A local government may enter into a development agreement with a developer for the development of property as provided in this Article for developable property of any size. Development agreements shall be of a reasonable term specified in the agreement.
An estimated 485,000 adult renters in North Carolina report they are not caught up on rent, and nearly three million adults reported difficulty in paying for usual household expenses. Legal Aid of NC can help residents navigate the process of receiving protections under the state and federal eviction moratoriums.
Age of minors. A minor is any person who has not reached the age of 18 years. (1971, c. 585, s.
For contract formation, the offer and acceptance are essential terms. The offer and acceptance form the agreement between the parties. The offer must be communicated, it must be complete and the offer must be accepted in its exact terms. Mutuality of agreement is a must.
