New Mexico Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure

• Category: Oil Gas and Minerals - Waivers
• State: Multi-State
• Control #: US-OG-155
• Format: Word; Rich Text

Description

This form serves to amend an oil and gas lease to allow a lessee to drill at any location on lands subject to a lease, including a location in close proximity to a building or structure on the lands subject to a lease. Title: Understanding the New Mexico Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure Introduction: In New Mexico, the Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure is an important clause in lease agreements. This provision aims to protect the lessor's property and structures from potential damage caused by drilling activities. In this article, we will delve into the details of this waiver and discuss different types of provisions that may exist. 1. Definition and Purpose: The New Mexico Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure is a legal clause that grants the lessor the authority to impose restrictions on drilling activities near their structures. It addresses concerns related to noise pollution, vibrations, potential accidents, and damage to the surface. 2. Key Components: — Specified Distance: The provision typically outlines a specific distance from the lessor's structure where drilling activities are prohibited. This distance may vary depending on the type of structure and the specific circumstances. — Surface Ownership: The provision is applicable when the lessor owns both the surface rights and the structures on the leased property. — Waiver of Lease: By adding this provision to the lease agreement, the lessor waives the lessee's right to drill within the specified distance. 3. Importance: The waiver plays a crucial role in ensuring the protection of structures and providing peace of mind to lessors. By preventing drilling in proximity to buildings, homes, or other assets, potential damage such as foundation cracks, structural degradation, or aesthetic harm is minimized. 4. Types of Waiver Provisions: a) Residential Property Provision: An example of a waiver provision may be seen in residential property leases, where lessors who own homes or apartment buildings can stipulate a distance from the structure where drilling is not allowed. This provision is particularly relevant when drilling is planned near residential areas, ensuring the safety and comfort of inhabitants. b) Commercial Property Provision: In the context of commercial leases, lessors owning office buildings, shopping centers, or industrial structures can have specific provisions tailored to protect these properties. These provisions may consider factors like heavy foot traffic, business operations, and potential disruption caused by drilling activities. c) Agricultural Property Provision: For lessors with agricultural land and farming operations, the waiver may address concerns about potential soil contamination, disruption of irrigation systems, or harm to livestock. The clause can designate a distance that protects the agricultural activities and preserves the integrity of the land. Conclusion: The New Mexico Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure is an essential component of lease agreements. It safeguards the interests of lessors who own structures and allows them to set limits on drilling activities near their property. By understanding the different types of provisions and their importance, lessors can make informed decisions when negotiating lease agreements that protect their investments and ensure the longevity of their structures.

Title: Understanding the New Mexico Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure Introduction: In New Mexico, the Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure is an important clause in lease agreements. This provision aims to protect the lessor's property and structures from potential damage caused by drilling activities. In this article, we will delve into the details of this waiver and discuss different types of provisions that may exist. 1. Definition and Purpose: The New Mexico Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure is a legal clause that grants the lessor the authority to impose restrictions on drilling activities near their structures. It addresses concerns related to noise pollution, vibrations, potential accidents, and damage to the surface. 2. Key Components: — Specified Distance: The provision typically outlines a specific distance from the lessor's structure where drilling activities are prohibited. This distance may vary depending on the type of structure and the specific circumstances. — Surface Ownership: The provision is applicable when the lessor owns both the surface rights and the structures on the leased property. — Waiver of Lease: By adding this provision to the lease agreement, the lessor waives the lessee's right to drill within the specified distance. 3. Importance: The waiver plays a crucial role in ensuring the protection of structures and providing peace of mind to lessors. By preventing drilling in proximity to buildings, homes, or other assets, potential damage such as foundation cracks, structural degradation, or aesthetic harm is minimized. 4. Types of Waiver Provisions: a) Residential Property Provision: An example of a waiver provision may be seen in residential property leases, where lessors who own homes or apartment buildings can stipulate a distance from the structure where drilling is not allowed. This provision is particularly relevant when drilling is planned near residential areas, ensuring the safety and comfort of inhabitants. b) Commercial Property Provision: In the context of commercial leases, lessors owning office buildings, shopping centers, or industrial structures can have specific provisions tailored to protect these properties. These provisions may consider factors like heavy foot traffic, business operations, and potential disruption caused by drilling activities. c) Agricultural Property Provision: For lessors with agricultural land and farming operations, the waiver may address concerns about potential soil contamination, disruption of irrigation systems, or harm to livestock. The clause can designate a distance that protects the agricultural activities and preserves the integrity of the land. Conclusion: The New Mexico Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure is an essential component of lease agreements. It safeguards the interests of lessors who own structures and allows them to set limits on drilling activities near their property. By understanding the different types of provisions and their importance, lessors can make informed decisions when negotiating lease agreements that protect their investments and ensure the longevity of their structures.