Illinois Rental Lease Pooling Provision

State:
Illinois
Control #:
IL-OG-002
Format:
Word; 
Rich Text
Instant download

Description

This form is an Illinois Lease agreement wherein Lessor grants, leases, and lets exclusively to Lessee the lands described within for the purposes of conducting seismic and geophysical operations, exploring, drilling, mining, and operating for, producing and owning oil, gas, sulfur, and all other minerals whether or not similar to those mentioned (collectively the oil or gas), and the right to make surveys, lay pipelines, establish and utilize facilities for surface or subsurface disposal of salt water, construct roads and bridges, dig canals, build tanks, power stations, power lines, telephone lines, and other structures on the Lands, necessary or useful in Lessee's operations on the Lands or any other land adjacent to the Lands. This lease form also provides for pooling.

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FAQ

If an issue crops up after a lease has begun, you can still add a clause or addendum. You will just need to send your tenant written notice of the change, preferably with a lease amendment, and then get your tenant's signature on the new amendment.

A lease is automatically void when it is against the law, such as a lease for an illegal purpose. In other circumstances, like fraud or duress, a lease can be declared void at the request of one party but not the other.

Make good refers to the clause in a lease that set out how a tenant should leave a property when the lease comes to an end, whether by the expiry of the term or earlier termination. Make good is one of the most commonly disputed provisions of a lease.

An addendum must include the basic elements of any landlord/tenant agreement. You should include the date, the address of the rental property and the names of each party just as you would in the original lease.

Lease provisions are usually described as "boilerplate," since many leases use standard language. Boilerplate language in a lease may include the terms of the lease, payment dates, and late fees, among others.

What are Lease Clauses? Unlike lease rules that you decide, clauses are typically written specifically to comply with state and local landlord-tenant laws and are written in legal jargon.

10 Important Rental Lease Clauses. #1 Rent Liability. #2 Severability Clause. #3 Access to Premises. #4 Use of Premises. #5 Holding Over. #6 Sublet Rules. #7 Disturbance Clause.

Names of all tenants. Limits on occupancy. Term of the tenancy. Rent. Deposits and fees. Repairs and maintenance. Entry to rental property. Restrictions on tenant illegal activity.

Most leases and rental agreements include a clause in which the tenant agrees that the premises are in habitable (livable) condition and promises to alert the landlord to any defective or dangerous condition. Tenant's repair and maintenance responsibilities.

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Illinois Rental Lease Pooling Provision