Collin Texas Supplemental Declaration of Pooled Unit

State:
Multi-State
County:
Collin
Control #:
US-OG-370
Format:
Word; 
Rich Text
Instant download

Description

This declaration is used when a unit operator desires to supplement and amend a Declaration of Pooled Unit to include in the unit the oil, gas and mineral leases described in Exhibit A to this Supplement, covering lands within the confines of the Unit Area.

Collin Texas Supplemental Declaration of Pooled Unit refers to a legal document that outlines the specific guidelines, restrictions, and regulations governing a pooled unit within Collin County, Texas, typically associated with real estate developments or condominium projects. This declaration serves as an additional set of provisions to the initial declaration of covenants, conditions, and restrictions (CC&Rs) for a community or development. A Collin Texas Supplemental Declaration of Pooled Unit is designed to provide clarity and detail for the shared areas, common facilities, and amenities associated with the pooled unit. It typically covers aspects such as maintenance responsibilities, shared expenses, rights and obligations of unit owners, and any necessary guidelines for the use and enjoyment of communal spaces. Different types of Collin Texas Supplemental Declarations of Pooled Unit may include: 1. Residential Pooled Unit Declaration: This type of supplemental declaration pertains to residential properties, such as condominiums or townhouses, where multiple units are pooled together into a common interest community. It may cover residential amenities like swimming pools, clubhouse, parking areas, landscaping, and recreational areas. 2. Commercial Pooled Unit Declaration: This declaration is specific to commercial properties or mixed-use developments, where various units are pooled together for shared access to facilities and services, such as parking lots, loading docks, common courtyards, or shared utility areas. 3. Mixed-Use Pooled Unit Declaration: This type of supplemental declaration is applicable to developments that combine both residential and commercial elements. It governs the shared amenities, common spaces, and responsibilities of both residential and commercial unit owners within the development. 4. Resort or Vacation Pooled Unit Declaration: This declaration is relevant to resort-style or vacation properties, outlining the rules and regulations for shared facilities like pools, spas, golf courses, fitness centers, and other amenities typically found in vacation destinations. It is important to note that the specific contents and regulations within a Collin Texas Supplemental Declaration of Pooled Unit may vary depending on the development, its purpose, and the requirements of local laws and ordinances.

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FAQ

Unitization is the agreement to jointly operate an entire producing reservoir or a prospectively productive area of oil and/or gas. The entire unit area is operated as a single entity, without regard to lease boundaries, and allows for the maximum recovery of production from the reservoir.

Unitization is the act of consolidating multiple smaller units into a larger unit for improved warehouse efficiency, quicker packaging and arranging, and more efficient handling and transportation.

Unitization is the combined operation of an oil and gas field by the different holders of the rights to the petroleum resources in the individual tracts on top of a petroleum reservoir.

A unitization is the pooling of assets by several parties in an oil and gas producing area in order to form a single operating unit, in exchange for receiving an interest in that unit.

Pooling refers to joining together enough acreage to allow issuance of a drilling permit for a single well. Unitization refers to joining together large areas such as an entire reservoir or field to optimize operations, introduce efficiencies, and reduce costs. Both pooling and unitization can be voluntary or forced.

It also records a "Declaration of Pooling" or similarly named document in the land records office at the local Courthouse. The declaration shows the boundaries of the pooling unit and identifies all the landowners and amount of property each landowner actually has in the unit.

The purpose of the unitisation agreement is to establish the unit from the two or more licence or contract areas which contain the reservoir by unitising the licensees respective interests and to provide for the development, operation and decommissioning of the unit.

Pooling is the combination of all or portions of multiple oil and gas leases to form a unit for the drilling of a single oil and/or gas well. The unit is generally one or a combination of government survey quarter-quarter sections.

Generally, a pooling clause will allow the leased premises to be combined with other lands to form a drilling unit, wherein proceeds from production anywhere on the drilling unit are allocated according to the percentage of the acreage of each tract divided by the total acreage of the drilling unit.

More info

Supplemental Notice. Covenants and Restrictions recorded or to be recorded in the public records of Collin County,.A copy of the Scheme Booklet is attached to this announcement. This name must EXACTLY MATCH the Builder named in the building contract. Jack A. Gilbert is a Professor in Pediatrics and the Scripps Institution of Oceanography. Completing a General Nursing Certificate at the. Royal Hobart Hospital, Denise is a Registered. Supplemental Notice. Covenants and Restrictions recorded or to be recorded in the public records of Collin County,. A copy of the Scheme Booklet is attached to this announcement.

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Collin Texas Supplemental Declaration of Pooled Unit