Phoenix Arizona Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lienholder

• Category: Oil Gas and Minerals - Subordination
• State: Multi-State
• City: Phoenix
• Control #: US-OG-142
• Format: Word; Rich Text

Description

This form provides for a lienholder to subordinate its lien, created by a mortgage or deed of trust, to an existing oil and gas lease, and directs the bonus and rental payments provided for in the lease to be delivered to the lessor until notified by the lienholder. A Phoenix Arizona Subordination of Mortgage or Deed of Trust to an Oil and Gas Lease with Bonus and Royalty Payments is a legal agreement that prioritizes the rights of the lessor in receiving income from oil and gas leases over the lien holder's rights to mortgage or deed of trust payments. This arrangement ensures that the lessor, typically the landowner, receives the associated financial benefits until the lien holder is informed. The purpose of this subordination agreement is to protect the interests of the lessor in case of default by the mortgagor or trust or while allowing them to benefit from oil and gas lease agreements. By subordinating the lien holder's claim, the lessor can receive bonuses and royalty payments as specified in the oil and gas lease. In Phoenix, Arizona, this agreement is frequently used to accommodate the extraction of natural resources, such as oil and gas, from properties within the city or its surrounding areas. The specific terms may vary depending on the agreement between the parties involved. Additional types of subordination agreements pertaining to Phoenix, Arizona, include: 1. Subordination of Mortgage / Deed of Trust to Mineral Lease: Similar to the oil and gas lease subordination, this agreement allows the landowner to receive income from various mineral leases, such as coal or precious metals, while subordinating the lien holder's rights. 2. Subordination of Mortgage / Deed of Trust to Solar/Wind Lease: In the context of renewable energy, this subordination agreement enables the landowner to benefit from solar or wind energy leases, ensuring they receive income from such arrangements until the lien holder receives notice. 3. Subordination of Mortgage / Deed of Trust to Water Rights Lease: This subordination agreement applies to cases where water rights are leased, allowing the landowner to receive income from water use or access rights while delaying mortgage or deed of trust payments to the lien holder, until notice is given. It is important to note that these types of subordination scan have various names and terminologies based on the specific circumstances and agreements involved. Consulting legal professionals or experts in real estate law is recommended when structuring such agreements to ensure compliance with local regulations and to protect the rights and interests of all parties involved.

A Phoenix Arizona Subordination of Mortgage or Deed of Trust to an Oil and Gas Lease with Bonus and Royalty Payments is a legal agreement that prioritizes the rights of the lessor in receiving income from oil and gas leases over the lien holder's rights to mortgage or deed of trust payments. This arrangement ensures that the lessor, typically the landowner, receives the associated financial benefits until the lien holder is informed. The purpose of this subordination agreement is to protect the interests of the lessor in case of default by the mortgagor or trust or while allowing them to benefit from oil and gas lease agreements. By subordinating the lien holder's claim, the lessor can receive bonuses and royalty payments as specified in the oil and gas lease. In Phoenix, Arizona, this agreement is frequently used to accommodate the extraction of natural resources, such as oil and gas, from properties within the city or its surrounding areas. The specific terms may vary depending on the agreement between the parties involved. Additional types of subordination agreements pertaining to Phoenix, Arizona, include: 1. Subordination of Mortgage / Deed of Trust to Mineral Lease: Similar to the oil and gas lease subordination, this agreement allows the landowner to receive income from various mineral leases, such as coal or precious metals, while subordinating the lien holder's rights. 2. Subordination of Mortgage / Deed of Trust to Solar/Wind Lease: In the context of renewable energy, this subordination agreement enables the landowner to benefit from solar or wind energy leases, ensuring they receive income from such arrangements until the lien holder receives notice. 3. Subordination of Mortgage / Deed of Trust to Water Rights Lease: This subordination agreement applies to cases where water rights are leased, allowing the landowner to receive income from water use or access rights while delaying mortgage or deed of trust payments to the lien holder, until notice is given. It is important to note that these types of subordination scan have various names and terminologies based on the specific circumstances and agreements involved. Consulting legal professionals or experts in real estate law is recommended when structuring such agreements to ensure compliance with local regulations and to protect the rights and interests of all parties involved.