South Dakota Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term of Lease

State:
Multi-State
Control #:
US-OG-575
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Word; 
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Description

This form is an Amendment to an Oil and Gas Lease (to provide for a Paid-Up Extension of Primary Term of Lease).

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FAQ

Codified Law 22-19A-1 | South Dakota Legislature. 22-19A-1. Stalking--Violation as misdemeanor--Second or subsequent offense a felony. (3) Willfully, maliciously, and repeatedly harass another person by means of any verbal, electronic, digital media, mechanical, telegraphic, or written communication.

An oil & gas lease where all payments to keep the lease in effect during the primary term, typically a cash bonus, are paid up front when the lease is acquired. This type of lease generally does not contain a delay rental clause.

There are two terms in a gas and oil lease: known as the primary term and the secondary term. Normally, the primary term is for a specific amount of time which lasts between the period of 1, 3, 5, 7 or 10 years.

2-16-18. Citation of code. The code enacted into law by § 2-16-13, and as hereafter amended and supplemented and printed and published pursuant to law, shall be known as the South Dakota Codified Laws and may be cited as "SDCL" followed by the number of the title, chapter, or section, as appropriate.

Codified Law 32-35-113 | South Dakota Legislature. 32-35-113. Maintenance of financial responsibility--Violation as misdemeanor.

Codified Law 43-32-35 | South Dakota Legislature. 43-32-35. Service animal documentation requirements. The supporting documentation shall confirm the tenant's disability and the relationship between the tenant's disability and the need for the requested accommodation.

Except in case of an emergency or if it is impracticable to do so, a landlord or landlord's agent shall give the tenant reasonable notice of the landlord's intent to enter and enter only at reasonable times.

Habendum Clause: Once the Primary Term expires, the habendum clause controls when the lease expires or how long it remains in effect (this lease term after the Primary Term is called the ?secondary term?).

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South Dakota Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term of Lease