DOCUMENT

ITB - Leasing of Mineral Rights 2008

  • YEAR CREATED: 2008
  • ENTITY TYPE: City/Township
  • TYPE OF DOCUMENT: BID - ITB, IFB, ITT, RFB
The document is a lease agreement between the City of Farmington and a lessee regarding the mineral rights of certain lands. The lease grants the lessee the right to explore, drill, and produce minerals on the specified lands. The lessee agrees to pay royalties to the lessor based on the production from the unit that is allocated to this lease. The lease is subject to federal and state laws, rules, and regulations, and the lessee is not held liable for non-compliance if prevented by such laws. The document also states that the lessee has examined the county records pertaining to the lessor's title to the mineral rights and that the lessor does not warrant or defend such title. The provisions of the lease are binding on the heirs, successors, and assigns of both parties. The document is executed by the mayor of the City of Farmington and the lessee, and it is acknowledged by a notary public.
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