Maine 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. Maine 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 is a legal arrangement that involves the prioritization of an oil and gas lease over a mortgage or deed of trust. This subordination agreement allows the lessor to receive any bonus and royalty payments until the lien holder provides notice for payment redirection. In Maine, there are different types of subordination agreements related to mortgages or deeds of trust concerning oil and gas leases. These could include: 1. Mortgage Subordination to Oil and Gas Lease: This type of subordination agreement specifically addresses the subordination of a mortgage to an oil and gas lease, allowing the lessor to receive any bonus and royalty payments until the lien holder provides notice. 2. Deed of Trust Subordination to Oil and Gas Lease: Similar to the mortgage subordination agreement, this type deals with subordinating a deed of trust to an oil and gas lease, where the lessor retains the rights to the bonus and royalty payments until the lien holder gives notice. 3. Bonus and Royalty Payments Subordination: This agreement focuses solely on subordinating bonus and royalty payments to the lessor until notice is provided by the lien holder. It may not be specific to a mortgage or deed of trust. 4. Notice from Lien holder Subordination: This type of subordination agreement outlines the process by which the lessor will begin receiving bonus and royalty payments once the lien holder provides notice. It may not be tied to a particular mortgage or deed of trust. These subordination agreements provide a legal framework for the distribution of bonus and royalty payments in the context of an oil and gas lease, ensuring that the lessor receives the agreed-upon payments until the lien holder asserts their claim. It is crucial to consult with legal professionals familiar with Maine's laws and regulations regarding these subordination agreements to ensure compliance and protect the interests of all parties involved.

Maine 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 is a legal arrangement that involves the prioritization of an oil and gas lease over a mortgage or deed of trust. This subordination agreement allows the lessor to receive any bonus and royalty payments until the lien holder provides notice for payment redirection. In Maine, there are different types of subordination agreements related to mortgages or deeds of trust concerning oil and gas leases. These could include: 1. Mortgage Subordination to Oil and Gas Lease: This type of subordination agreement specifically addresses the subordination of a mortgage to an oil and gas lease, allowing the lessor to receive any bonus and royalty payments until the lien holder provides notice. 2. Deed of Trust Subordination to Oil and Gas Lease: Similar to the mortgage subordination agreement, this type deals with subordinating a deed of trust to an oil and gas lease, where the lessor retains the rights to the bonus and royalty payments until the lien holder gives notice. 3. Bonus and Royalty Payments Subordination: This agreement focuses solely on subordinating bonus and royalty payments to the lessor until notice is provided by the lien holder. It may not be specific to a mortgage or deed of trust. 4. Notice from Lien holder Subordination: This type of subordination agreement outlines the process by which the lessor will begin receiving bonus and royalty payments once the lien holder provides notice. It may not be tied to a particular mortgage or deed of trust. These subordination agreements provide a legal framework for the distribution of bonus and royalty payments in the context of an oil and gas lease, ensuring that the lessor receives the agreed-upon payments until the lien holder asserts their claim. It is crucial to consult with legal professionals familiar with Maine's laws and regulations regarding these subordination agreements to ensure compliance and protect the interests of all parties involved.