Title: South Dakota Underground Storage Lease and Agreement (Surface Only): A Comprehensive Overview Introduction: The South Dakota Underground Storage Lease and Agreement (Surface Only) pertains to the legal framework governing the use and leasing of underground storage space exclusively for surface usage purposes. We will explore the main aspects of this agreement, including the key provisions, its various types, and their significance. Keywords: — South Dakota Underground Storage Lease and Agreement Surfacingnl— - Underground Storage Space — LeFrameworkewor— - Leasing Agreement - Surface Usage — Key Provision— - Types - Significance 1. Key Provisions: The South Dakota Underground Storage Lease and Agreement (Surface Only) contains several significant provisions, including: — Identification of the Parties: The agreement identifies the lessor and lessee, explicitly determining their roles and responsibilities. — Lease Duration: Specifies the duration of the lease, providing a clear timeframe for the lessee's use of the underground storage space. — Rent and Payment Terms: Outlines the agreed-upon rental amount, payment frequency, and methods of payment. — Maintenance and Repair: Defines the responsibilities of the lessor and lessee regarding the maintenance and repair of the underground storage space. — Termination Conditions: Enumerates the circumstances under which either party can terminate the lease agreement prematurely. — Legal Compliance: Highlights the obligation of the lessee to adhere to all applicable laws, regulations, and permits. 2. Types of South Dakota Underground Storage Lease and Agreement (Surface Only): While the specific types may vary, two common types of South Dakota Underground Storage Lease and Agreement (Surface Only) are as follows: a. Oil and Gas Storage Lease (Surface Only): This type of agreement outlines the terms and conditions related to the underground storage of oil and gas reserves exclusively for surface usage. Companies engaged in oil and gas exploration and production often require underground storage facilities to manage excess reserves efficiently. b. Commercial Storage Lease (Surface Only): This variant is typically utilized by businesses or individuals seeking underground storage space for commercial purposes. Such underground storage may be used for various purposes, including warehousing, distribution centers, or even secure document storage. 3. Significance: The South Dakota Underground Storage Lease and Agreement (Surface Only) provides legal protection and clarity for parties involved in utilizing underground storage space for surface usage purposes. It ensures that both lessor and lessee understand their rights and obligations, minimizing potential disputes and promoting productive use of the allocated space. Furthermore, these agreements play a vital role in facilitating economic growth, enabling businesses to avail efficient and secure storage solutions. Conclusion: The South Dakota Underground Storage Lease and Agreement (Surface Only) serves as a crucial legal instrument for governing the allocation and usage of underground storage space primarily for surface purposes. By providing a detailed framework for parties involved, it guarantees a smooth and mutually beneficial relationship between lessors and lessees. Whether they pertain to oil and gas storage or commercial needs, these agreements undeniably contribute to the growth and development of various industries.
South Dakota Underground Storage Lease and Agreement (Surface Only)
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Hear this out loud PauseIn South Dakota, all water (surface and ground water) is the property of the people of the state and whether you need a water right permit depends on the type of your water use. The only type of water use which does not require a water right permit is domestic use.
Underground storage tanks (known as USTs) are large containers placed underground to hold large quantities of liquids or gases. USTs are typically constructed of Steel, Aluminum, Fiberglass or a combination of materials. They may be either single-wall or double-wall construction.
Hear this out loud PauseThe following types of tanks do not have to meet federal UST regulations: Farm and residential tanks of 1,100 gallons or less capacity holding motor fuel used for noncommercial purposes. Tanks storing heating oil used on the premises where it is stored.
During the last two decades of the 1800s, riveted steel tanks were developed to store petroleum ? and, eventually, liquid chemical ? products. Whether used aboveground or underground, the riveted tank became the standard for storage when the needed capacity was beyond a few barrels.
The federal underground storage tank program is regulated by the EPA. The regulations apply to tanks that contain hazardous substances or liquid petroleum products and that store at least 10% of their volume underground.
Some types of ASTs are exempt from the regulations: ASTs with a capacity of 500 gallons or less. Farm ASTs. Residential ASTs storing 1,100 gallons or less of motor fuel used for noncommercial purposes. ASTs holding 1,100 gallons or less used to store heating oil for on-site consumption. Wastewater treatment equipment.