This form is used when a Tenant is the lessee under a (Surface Lease, Agricultural Lease, Grazing Lease, etc.) which covers all or a portion of the Land and the Operator, the owner of the Lease and the Lessee, desires that the Tenant subordinate the Tenant's rights to the leasehold estate and rights created by the Lease.
Guam Surface Tenant's Consent for Subordination to an Oil, Gas, and Mineral Lease is a legal document that outlines the agreement between a surface tenant in Guam and an oil, gas, and mineral leaseholder. This consent is essential for the subordination of the tenant's rights to the leaseholder's exploration, extraction, and utilization of oil, gas, and minerals on the property. This consent document ensures that the surface tenant acknowledges and permits the leaseholder to access, explore, extract, and produce oil, gas, and minerals from the specific property governed by the lease. It also states that the tenant's rights, such as the ability to access and utilize the surface area for other purposes, will be secondary to the rights granted to the leaseholder. By signing the Guam Surface Tenant's Consent for Subordination to an Oil, Gas, and Mineral Lease, the tenant agrees that their leasehold will be subject to the terms and conditions of the oil, gas, and mineral lease. This means that the leaseholder has the right to explore and extract the natural resources on or beneath the property, potentially including drilling wells, installing pipelines, and conducting mining activities. The document may also include clauses specifying compensation or surface damages that the leaseholder must pay to the surface tenant for any interference, inconvenience, or damage caused by the exploration and extraction activities. It can outline the process for resolving any disputes that may arise between the tenant and leaseholder regarding the use of the property. Different variations of Guam Surface Tenant's Consent for Subordination may exist to cater to specific circumstances or legal requirements. Some variations may focus on subordination for oil exploration only, while others might encompass gas and mineral rights as well. Additionally, there may be variations specific to different regions within Guam, taking into account local regulations and conditions. It is important for both the surface tenant and the leaseholder to carefully review the document and understand its implications before signing. Seeking legal advice may be beneficial to ensure that the rights and obligations of both parties are adequately addressed and protected within the Guam Surface Tenant's Consent for Subordination to an Oil, Gas, and Mineral Lease.
