Minnesota Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right ot Use the Surface of the Lands being Granted)

• Category: Oil Gas and Minerals - Leases
• State: Multi-State
• Control #: US-OG-1151
• Format: Word; Rich Text

Description

This form is a subsurface underground gas storage lease and agreement from a surface owner with no rights to use the surface of the lands being granted. Minnesota Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legal contract that allows a party or entity to lease the underground space of a property situated in Minnesota for storage purposes. This agreement is specifically designed for surface owners who wish to grant access to the subsurface of their lands without allowing the lessee to use the surface area. The Minnesota Subsurface Underground Storage Lease and Agreement provides a formal framework for leasing and using the subsurface underground storage space. It outlines the terms and conditions that both the surface owner (lessor) and the lessee must adhere to during the lease period. The agreement ensures proper usage, maintenance, and compensation for the lease of the subsurface storage. Here are a few key terms and elements commonly included in such agreements: 1. Parties: The agreement includes the identification of the surface owner (lessor) and the lessee who wishes to lease the subsurface storage area. 2. Description: Detailed specifics about the property and the subsurface area being leased such as legal descriptions, boundaries, and dimensions are documented. 3. Purpose: The agreement clearly states that the leased area is solely for underground storage purposes and that the lessee does not have any rights to use the surface area. 4. Term and Renewal: The lease period, commencement date, and any renewal options are mentioned to define the temporal aspect of the agreement. 5. Rental Payments: The amount and frequency of rental payments are outlined. This includes provisions for late payments, penalties, and methods of payment. 6. Access and Usage: The agreement describes the lessee's rights to access, use, and store within the subsurface area. It may specify any restrictions or limitations imposed by the surface owner. 7. Maintenance and Repairs: The responsibilities of both parties regarding maintenance, repairs, and any potential property damage related to the subsurface storage are outlined. 8. Insurance and Liability: The agreement may address insurance requirements, indemnification provisions, and liability limits, ensuring the parties are protected in case of accidents or damages. 9. Termination: The conditions under which either party can terminate the agreement, including default scenarios and notice periods, are defined. It's worth noting that while the Minnesota Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a standard form, there may be variations or additional provisions based on the specific requirements of the parties involved or the nature of the storage being conducted (e.g., subsurface natural gas storage, underground water storage). Overall, this agreement provides a legal framework that protects both the surface owner's property rights and the lessee's storage interests, ensuring a mutually beneficial arrangement for subsurface underground storage in Minnesota.

Minnesota Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legal contract that allows a party or entity to lease the underground space of a property situated in Minnesota for storage purposes. This agreement is specifically designed for surface owners who wish to grant access to the subsurface of their lands without allowing the lessee to use the surface area. The Minnesota Subsurface Underground Storage Lease and Agreement provides a formal framework for leasing and using the subsurface underground storage space. It outlines the terms and conditions that both the surface owner (lessor) and the lessee must adhere to during the lease period. The agreement ensures proper usage, maintenance, and compensation for the lease of the subsurface storage. Here are a few key terms and elements commonly included in such agreements: 1. Parties: The agreement includes the identification of the surface owner (lessor) and the lessee who wishes to lease the subsurface storage area. 2. Description: Detailed specifics about the property and the subsurface area being leased such as legal descriptions, boundaries, and dimensions are documented. 3. Purpose: The agreement clearly states that the leased area is solely for underground storage purposes and that the lessee does not have any rights to use the surface area. 4. Term and Renewal: The lease period, commencement date, and any renewal options are mentioned to define the temporal aspect of the agreement. 5. Rental Payments: The amount and frequency of rental payments are outlined. This includes provisions for late payments, penalties, and methods of payment. 6. Access and Usage: The agreement describes the lessee's rights to access, use, and store within the subsurface area. It may specify any restrictions or limitations imposed by the surface owner. 7. Maintenance and Repairs: The responsibilities of both parties regarding maintenance, repairs, and any potential property damage related to the subsurface storage are outlined. 8. Insurance and Liability: The agreement may address insurance requirements, indemnification provisions, and liability limits, ensuring the parties are protected in case of accidents or damages. 9. Termination: The conditions under which either party can terminate the agreement, including default scenarios and notice periods, are defined. It's worth noting that while the Minnesota Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a standard form, there may be variations or additional provisions based on the specific requirements of the parties involved or the nature of the storage being conducted (e.g., subsurface natural gas storage, underground water storage). Overall, this agreement provides a legal framework that protects both the surface owner's property rights and the lessee's storage interests, ensuring a mutually beneficial arrangement for subsurface underground storage in Minnesota.