Arizona Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lienholder

• Category: Oil Gas and Minerals - Subordination
• State: Multi-State
• Control #: US-OG-142
• Format: Word; Rich Text

Description

This form provides for a lienholder to subordinate its lien, created by a mortgage or deed of trust, to an existing oil and gas lease, and directs the bonus and rental payments provided for in the lease to be delivered to the lessor until notified by the lienholder. Arizona Subordination of Mortgage/Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder In Arizona, a subordination of mortgage or deed of trust to an oil and gas lease with bonus and royalty payments to go to the lessor until notice from the lien holder is a legal agreement that affects the rights of parties involved in real estate transactions and the oil and gas industry. This arrangement ensures that the lessor, who owns the mineral rights, receives any bonus and royalty payments until the lien holder is notified of the lease. Here are the different types of Arizona Subordination of Mortgage/Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder: 1. Arizona Subordination of Mortgage/Deed of Trust: This type of agreement subordinates the rights of a mortgage or deed of trust holder to the rights of the lessor under an oil and gas lease. It means that the mortgage or deed of trust holder cannot claim the bonus and royalty payments until they are notified by the lessor. 2. Oil and Gas Lease: The lessor grants the lessee the right to explore and extract oil and gas from their property in exchange for bonus payments and ongoing royalty payments. This lease becomes effective after it's properly recorded. 3. Bonus Payments: These are upfront payments made by the lessee to the lessor upon signing the oil and gas lease. They are often calculated based on the acreage or mineral rights owned by the lessor and the potential value of the oil and gas resources. 4. Royalty Payments: These are ongoing payments made to the lessor based on a percentage of the value of oil and gas produced and sold from the leased property. The specific royalty percentage is usually negotiated between the lessor and the lessee. 5. Lien holder: A lien holder is an individual or entity that holds a mortgage or deed of trust on the property where the oil and gas lease is being executed. The lien holder's rights are subordinate to the lessor's rights until they receive notice from the lessor. It's important to note that the exact terms and conditions of an Arizona subordination of mortgage/deed of trust to oil and gas lease with bonus and royalty payments to go to the lessor until notice from lien holder can vary depending on the specific agreement and negotiations between the parties involved. Seek legal advice for a comprehensive understanding of the terms and implications.

Arizona Subordination of Mortgage/Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder In Arizona, a subordination of mortgage or deed of trust to an oil and gas lease with bonus and royalty payments to go to the lessor until notice from the lien holder is a legal agreement that affects the rights of parties involved in real estate transactions and the oil and gas industry. This arrangement ensures that the lessor, who owns the mineral rights, receives any bonus and royalty payments until the lien holder is notified of the lease. Here are the different types of Arizona Subordination of Mortgage/Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder: 1. Arizona Subordination of Mortgage/Deed of Trust: This type of agreement subordinates the rights of a mortgage or deed of trust holder to the rights of the lessor under an oil and gas lease. It means that the mortgage or deed of trust holder cannot claim the bonus and royalty payments until they are notified by the lessor. 2. Oil and Gas Lease: The lessor grants the lessee the right to explore and extract oil and gas from their property in exchange for bonus payments and ongoing royalty payments. This lease becomes effective after it's properly recorded. 3. Bonus Payments: These are upfront payments made by the lessee to the lessor upon signing the oil and gas lease. They are often calculated based on the acreage or mineral rights owned by the lessor and the potential value of the oil and gas resources. 4. Royalty Payments: These are ongoing payments made to the lessor based on a percentage of the value of oil and gas produced and sold from the leased property. The specific royalty percentage is usually negotiated between the lessor and the lessee. 5. Lien holder: A lien holder is an individual or entity that holds a mortgage or deed of trust on the property where the oil and gas lease is being executed. The lien holder's rights are subordinate to the lessor's rights until they receive notice from the lessor. It's important to note that the exact terms and conditions of an Arizona subordination of mortgage/deed of trust to oil and gas lease with bonus and royalty payments to go to the lessor until notice from lien holder can vary depending on the specific agreement and negotiations between the parties involved. Seek legal advice for a comprehensive understanding of the terms and implications.