Rhode Island Underground Storage Lease and Agreement (Surface Only)

• Category: Oil Gas and Minerals - Leases
• State: Multi-State
• Control #: US-OG-1182
• Format: Word; Rich Text

Description

This form is an underground storage lease and agreement for surface only. Rhode Island Underground Storage Lease and Agreement (Surface Only) is a legal document used in the state of Rhode Island to establish a lease and agreement for the use of underground storage facilities exclusively for surface-level purposes. This lease covers various types of underground storage facilities, such as underground tanks, vaults, and storage areas. The primary purpose of this agreement is to outline the rights, responsibilities, and obligations of both the lessor (property owner) and the lessee (storage facility user) in relation to the underground storage space. It ensures that the underground storage space is utilized in a safe and compliant manner while protecting the interests of all parties involved. The Rhode Island Underground Storage Lease and Agreement (Surface Only) typically includes the following key elements: 1. Parties: It identifies the names and contact information of the lessor and lessee involved in the agreement. 2. Description of premises: It provides a detailed description of the location, boundaries, and measurements of the underground storage facility covered by the lease. 3. Permitted use: It specifies the allowable activities and purposes for which the lessee is authorized to use the storage space for surface-level needs. This may include storing goods, materials, equipment, or other permissible items. 4. Term and renewal: It states the duration of the lease, including the commencement and termination dates. It may also detail the terms and conditions for renewal or extension of the agreement. 5. Rent and payment terms: It outlines the rental amount, payment schedule, late fees (if applicable), and acceptable payment methods. 6. Maintenance and repairs: It defines the responsibilities of both parties regarding the maintenance, repairs, and upkeep of the underground storage area. It may specify the obligations related to routine inspections, cleaning, and compliance with safety regulations. 7. Insurance and liability: It lays down the insurance requirements for both the lessor and lessee, including liability coverage, property insurance, and any additional insurance obligations. 8. Indemnification: It includes provisions for indemnifying each party against claims, damages, or losses arising from the use of the underground storage premises. 9. Termination: It highlights the conditions or events that may lead to the termination of the lease, such as breach of terms, non-payment, or violation of statutory requirements. Additional types of Rhode Island Underground Storage Lease and Agreement (Surface Only) may include variations specific to different types of underground storage facilities, such as fuel storage tanks, hazardous materials' storage, or specific industry-related requirements. It is crucial to consult legal professionals or experts to ensure that the Rhode Island Underground Storage Lease and Agreement (Surface Only) is meticulously tailored to meet the specific needs and comply with the legal obligations associated with underground storage in Rhode Island.

Rhode Island Underground Storage Lease and Agreement (Surface Only) is a legal document used in the state of Rhode Island to establish a lease and agreement for the use of underground storage facilities exclusively for surface-level purposes. This lease covers various types of underground storage facilities, such as underground tanks, vaults, and storage areas. The primary purpose of this agreement is to outline the rights, responsibilities, and obligations of both the lessor (property owner) and the lessee (storage facility user) in relation to the underground storage space. It ensures that the underground storage space is utilized in a safe and compliant manner while protecting the interests of all parties involved. The Rhode Island Underground Storage Lease and Agreement (Surface Only) typically includes the following key elements: 1. Parties: It identifies the names and contact information of the lessor and lessee involved in the agreement. 2. Description of premises: It provides a detailed description of the location, boundaries, and measurements of the underground storage facility covered by the lease. 3. Permitted use: It specifies the allowable activities and purposes for which the lessee is authorized to use the storage space for surface-level needs. This may include storing goods, materials, equipment, or other permissible items. 4. Term and renewal: It states the duration of the lease, including the commencement and termination dates. It may also detail the terms and conditions for renewal or extension of the agreement. 5. Rent and payment terms: It outlines the rental amount, payment schedule, late fees (if applicable), and acceptable payment methods. 6. Maintenance and repairs: It defines the responsibilities of both parties regarding the maintenance, repairs, and upkeep of the underground storage area. It may specify the obligations related to routine inspections, cleaning, and compliance with safety regulations. 7. Insurance and liability: It lays down the insurance requirements for both the lessor and lessee, including liability coverage, property insurance, and any additional insurance obligations. 8. Indemnification: It includes provisions for indemnifying each party against claims, damages, or losses arising from the use of the underground storage premises. 9. Termination: It highlights the conditions or events that may lead to the termination of the lease, such as breach of terms, non-payment, or violation of statutory requirements. Additional types of Rhode Island Underground Storage Lease and Agreement (Surface Only) may include variations specific to different types of underground storage facilities, such as fuel storage tanks, hazardous materials' storage, or specific industry-related requirements. It is crucial to consult legal professionals or experts to ensure that the Rhode Island Underground Storage Lease and Agreement (Surface Only) is meticulously tailored to meet the specific needs and comply with the legal obligations associated with underground storage in Rhode Island.