This form is used when a Tenant is the lessee under a (Surface Lease, Agricultural Lease, Grazing Lease, etc.) which covers all or a portion of the Land and the Operator, the owner of the Lease and the Lessee, desires that the Tenant subordinate the Tenant's rights to the leasehold estate and rights created by the Lease.
Oregon Surface Tenant's Consent for Subordination to an Oil, Gas, and Mineral Lease is a legal document that outlines the terms and conditions upon which a surface tenant grants subordination rights to an oil, gas, and mineral lease on a property located in Oregon. This contract is essential in situations where the property owner leases the subsurface rights for mineral exploration or extraction purposes, while ensuring that the surface tenant's rights and interests are protected. The Oregon Surface Tenant's Consent for Subordination to an Oil, Gas, and Mineral Lease encompasses various elements that ensure clarity and fairness between the involved parties. It typically includes the following sections: 1. Parties: This section identifies all the parties involved in the agreement, including the property owner, the lessee of the mineral rights, and the surface tenant seeking subordinate rights. 2. Property Description: Here, the document provides a detailed description of the property, including its legal boundaries, address, and any other identifying features necessary to establish its location. 3. Lease Agreement: This section refers to the existing oil, gas, and mineral lease agreement between the property owner and the lessee. It outlines the rights and responsibilities of both parties, including exploration, extraction, and royalty provisions. 4. Consent for Subordination: This is the heart of the document, where the surface tenant grants consent to subordinate their rights in favor of the mineral lease. The terms of the subordination, including duration, limitations, and potential compensation, are discussed in this section. 5. Compensation: If applicable, the document may discuss any compensation or consideration the surface tenant receives in exchange for granting the subordination rights. This could include monetary compensation, provision of alternative land for temporary use, or other mutually agreed-upon arrangements. 6. Legalities: The document also includes standard legal clauses that protect the rights and interests of all parties involved. These may cover dispute resolution mechanisms, force majeure events, confidentiality, severability, and governing law. Different types of Oregon Surface Tenant's Consent for Subordination to an Oil, Gas, and Mineral Lease may exist based on variations in specific terms and conditions. However, the general purpose of the document remains the same: to establish a clear agreement that protects the surface tenant's rights while granting subordination to the mineral lease for exploration or extraction purposes. In conclusion, the Oregon Surface Tenant's Consent for Subordination to an Oil, Gas, and Mineral Lease is a vital legal document that clearly outlines the terms and conditions between the property owner, lessee of mineral rights, and surface tenant. It ensures proper subordination of surface rights while protecting the interests of all parties involved in mineral exploration or extraction activities on the property.
