The New Jersey Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legally binding document that governs the rights and responsibilities of a surface owner when it comes to underground gas storage in New Jersey. This agreement is specifically designed for surface owners who do not have the right to use the surface of the lands being granted for gas storage purposes. The purpose of this agreement is to ensure smooth collaboration between the gas storage operator and the surface owner, while safeguarding the rights and interests of both parties. Here are some key aspects covered by this lease and agreement: 1. Definitions: The agreement starts with defining essential terms related to gas storage operations, surface owner rights, and other pertinent aspects to avoid any confusion or misunderstandings. 2. Grant of Subsurface Rights: This section outlines the granted rights to the gas storage operator for utilizing the subsurface lands exclusively for gas storage. The surface owner retains ownership and control of the surface lands. 3. Limitations on Surface Use: The agreement clearly stipulates that the surface owner has no right to access or use the lands granted for gas storage purposes, ensuring the operator's uninterrupted operations and protecting underground storage infrastructure. 4. Compensation and Rental Payments: The lease details the compensation and rental payments to be provided by the operator to the surface owner. This may include upfront payments, annual rental fees, and potential additional royalties or bonuses based on gas production. 5. Indemnification and Liability: The surface owner is protected from any liability arising from the gas storage operations, with the operator assuming responsibility. Adequate insurance coverage and indemnification provisions are usually included to safeguard both parties. 6. Regulatory Compliance: The agreement requires the operator to comply with all applicable laws, regulations, and permits related to gas storage operations, protecting the surface owner from any legal consequences. There are no known different types of the New Jersey Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted). However, specific modifications or additional clauses may be added based on the unique circumstances or requirements of the surface owner or gas storage operator, as long as they align with the applicable laws and regulations.
New Jersey Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted)
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