This form is used when the Lessee and the Lessor agree to amend the lease to extend the primary term from three years to six years. The terms and provisions of this amendment of the Lease is binding the the benefit of the Lessor and Lessee and their respecitve heirs, devisees, successors, and personal representatives.
The Travis Texas Amendment to Oil, Gas, and Mineral Lease is a crucial legal document that affects the rights and obligations of all parties involved in oil, gas, and mineral leasing in Travis County, Texas. This amendment encompasses a variety of provisions and clauses that protect and regulate the interests of both the lessor and lessee in these lease agreements. One significant type of the Travis Texas Amendment to Oil, Gas, and Mineral Lease is the "Royalty Interest Amendment." This amendment addresses the percentage of royalty payments that the lessor will receive from the production of oil, gas, or minerals on their leased property. It outlines the specific terms and conditions related to royalty calculations, payment frequency, and any potential adjustments over time. Another important type is the "Surface Use and Damage Amendment." This amendment provides guidelines regarding the use of and damages caused to the surface of the land during the exploration and production of oil, gas, or minerals. It states the necessary measures for the lessee to take in order to minimize disturbance to the surface, repair any damage, and restore the property to its original condition once the lease terminates. Furthermore, the "Assignment and Subleasing Amendment" is another relevant type of Travis Texas Amendment. This amendment restricts or permits the lessee's right to assign or sublease their interest in the oil, gas, or mineral lease to a third party. It typically includes conditions such as obtaining prior consent from the lessor and ensuring that the assignee/sublessee abides by the terms and conditions of the original lease agreement. Another variant is the "Drilling and Development Amendment." This amendment establishes the lessee's obligations, requirements, and restrictions regarding drilling, development, and operation activities on the leased property. It outlines important aspects such as drilling depths, safety regulations, environmental protections, and the lessee's responsibility for any damages resulting from these operations. The "Force Mature Amendment" is a crucial provision in the Travis Texas Amendment to Oil, Gas, and Mineral Lease. This amendment addresses unforeseen circumstances, such as natural disasters or other unavoidable events that could interfere with the lessee's ability to fulfill their obligations under the lease agreement. It provides guidelines on the rights and responsibilities of both parties in case of a force majeure event. Lastly, the "Term and Termination Amendment" outlines the duration of the lease agreement and the conditions under which it may be terminated by either the lessor or lessee. It includes provisions related to notice periods, renewal options, circumstances leading to termination, and any necessary post-termination obligations. Overall, the Travis Texas Amendment to Oil, Gas, and Mineral Lease is a comprehensive legal document that ensures fair and regulated practices in the extraction of oil, gas, and minerals in Travis County. It covers various aspects crucial to both lessors and lessees, including royalty interests, surface use and damage, assignment and subleasing, drilling and development, force majeure events, and the duration and termination of lease agreements.The Travis Texas Amendment to Oil, Gas, and Mineral Lease is a crucial legal document that affects the rights and obligations of all parties involved in oil, gas, and mineral leasing in Travis County, Texas. This amendment encompasses a variety of provisions and clauses that protect and regulate the interests of both the lessor and lessee in these lease agreements. One significant type of the Travis Texas Amendment to Oil, Gas, and Mineral Lease is the "Royalty Interest Amendment." This amendment addresses the percentage of royalty payments that the lessor will receive from the production of oil, gas, or minerals on their leased property. It outlines the specific terms and conditions related to royalty calculations, payment frequency, and any potential adjustments over time. Another important type is the "Surface Use and Damage Amendment." This amendment provides guidelines regarding the use of and damages caused to the surface of the land during the exploration and production of oil, gas, or minerals. It states the necessary measures for the lessee to take in order to minimize disturbance to the surface, repair any damage, and restore the property to its original condition once the lease terminates. Furthermore, the "Assignment and Subleasing Amendment" is another relevant type of Travis Texas Amendment. This amendment restricts or permits the lessee's right to assign or sublease their interest in the oil, gas, or mineral lease to a third party. It typically includes conditions such as obtaining prior consent from the lessor and ensuring that the assignee/sublessee abides by the terms and conditions of the original lease agreement. Another variant is the "Drilling and Development Amendment." This amendment establishes the lessee's obligations, requirements, and restrictions regarding drilling, development, and operation activities on the leased property. It outlines important aspects such as drilling depths, safety regulations, environmental protections, and the lessee's responsibility for any damages resulting from these operations. The "Force Mature Amendment" is a crucial provision in the Travis Texas Amendment to Oil, Gas, and Mineral Lease. This amendment addresses unforeseen circumstances, such as natural disasters or other unavoidable events that could interfere with the lessee's ability to fulfill their obligations under the lease agreement. It provides guidelines on the rights and responsibilities of both parties in case of a force majeure event. Lastly, the "Term and Termination Amendment" outlines the duration of the lease agreement and the conditions under which it may be terminated by either the lessor or lessee. It includes provisions related to notice periods, renewal options, circumstances leading to termination, and any necessary post-termination obligations. Overall, the Travis Texas Amendment to Oil, Gas, and Mineral Lease is a comprehensive legal document that ensures fair and regulated practices in the extraction of oil, gas, and minerals in Travis County. It covers various aspects crucial to both lessors and lessees, including royalty interests, surface use and damage, assignment and subleasing, drilling and development, force majeure events, and the duration and termination of lease agreements.
