Harris Texas Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right ot Use the Surface of the Lands being Granted)

• Category: Oil Gas and Minerals - Leases
• State: Multi-State
• County: Harris
• Control #: US-OG-1151
• Format: Word; Rich Text

Description

This form is a subsurface underground gas storage lease and agreement from a surface owner with no rights to use the surface of the lands being granted. The Harris Texas Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legally binding contract between a surface owner and a storage company, granting the storage company the rights to utilize the subsurface of the specified lands for underground storage purposes. This agreement outlines the terms and conditions under which the storage company may access and utilize the subsurface, without interfering with the surface owner's rights or use of the land. Key terms in the Harris Texas Subsurface Underground Storage Lease and Agreement include: 1. Subsurface Access: The agreement defines the scope of subsurface access granted to the storage company, detailing the specific lands and boundaries within Harris Texas where the storage operations will be conducted. 2. Storage Purposes: The agreement outlines the permitted uses of the subsurface storage, such as storing natural gas, petroleum products, propane, or other materials deemed suitable for underground storage. 3. Surface Owner's Rights: The agreement explicitly states that the surface owner retains full rights and ownership of the surface lands, with no right to use the subsurface areas granted to the storage company. This ensures that the storage operations do not interfere with the surface owner's activities, including farming, construction, or any other surface-related use. 4. Term and Renewal: The lease specifies the duration of the agreement, including the initial term and any potential renewal options. It may also outline provisions for termination, including non-compliance with the terms, breach of agreement, or default. 5. Consideration and Rent: The agreement establishes the compensation payable to the surface owner by the storage company in exchange for the subsurface lease rights. This may include upfront payment, annual rent, royalties, or other mutually agreed financial arrangements. Different types of Harris Texas Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) may include variations in the permitted storage materials or additional provisions tailored to specific storage purposes. For instance, there could be specialized agreements for underground natural gas storage, petroleum storage, or other specific commodities commonly stored underground. It is crucial for both the surface owner and the storage company to carefully review and negotiate the terms of the Harris Texas Subsurface Underground Storage Lease and Agreement to ensure that their respective rights, responsibilities, and obligations are clearly defined and protected. Seeking legal counsel is highly recommended ensuring compliance with all local, state, and federal regulations and to address any potential concerns or complexities specific to the project.

The Harris Texas Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legally binding contract between a surface owner and a storage company, granting the storage company the rights to utilize the subsurface of the specified lands for underground storage purposes. This agreement outlines the terms and conditions under which the storage company may access and utilize the subsurface, without interfering with the surface owner's rights or use of the land. Key terms in the Harris Texas Subsurface Underground Storage Lease and Agreement include: 1. Subsurface Access: The agreement defines the scope of subsurface access granted to the storage company, detailing the specific lands and boundaries within Harris Texas where the storage operations will be conducted. 2. Storage Purposes: The agreement outlines the permitted uses of the subsurface storage, such as storing natural gas, petroleum products, propane, or other materials deemed suitable for underground storage. 3. Surface Owner's Rights: The agreement explicitly states that the surface owner retains full rights and ownership of the surface lands, with no right to use the subsurface areas granted to the storage company. This ensures that the storage operations do not interfere with the surface owner's activities, including farming, construction, or any other surface-related use. 4. Term and Renewal: The lease specifies the duration of the agreement, including the initial term and any potential renewal options. It may also outline provisions for termination, including non-compliance with the terms, breach of agreement, or default. 5. Consideration and Rent: The agreement establishes the compensation payable to the surface owner by the storage company in exchange for the subsurface lease rights. This may include upfront payment, annual rent, royalties, or other mutually agreed financial arrangements. Different types of Harris Texas Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) may include variations in the permitted storage materials or additional provisions tailored to specific storage purposes. For instance, there could be specialized agreements for underground natural gas storage, petroleum storage, or other specific commodities commonly stored underground. It is crucial for both the surface owner and the storage company to carefully review and negotiate the terms of the Harris Texas Subsurface Underground Storage Lease and Agreement to ensure that their respective rights, responsibilities, and obligations are clearly defined and protected. Seeking legal counsel is highly recommended ensuring compliance with all local, state, and federal regulations and to address any potential concerns or complexities specific to the project.