Fill and Sign the How to Value Overriding Royalty Interests Mercer Capital Form

ASSIGNMENT OF OVERRIDING ROYALTY INTEREST(Multiple Leases. Interest Assigned is Difference between Specified Percentage and Existing Leasehold Burdens) State: County: Assignor: (Name and Address) Assignee: (Name and Address) Effective Date: Assignor, named above, is the owner of an undivided working interest in Oil, Gas and Mineral Leases (the "Leases") on lands located in the county and state named above (the "Lands"). The Lease and Lands are described on Exhibit "A" to this Assignment. For adequate consideration, Assignor assigns, transfers and conveys to Assignee an overriding royalty interest (the "Override") in all of the oil, gas, and other minerals produce d, saved, and marketed from the Leases, equal to the difference between ____% and all roya lty, overriding royalty, production payments, and other burdens on the Assignor's working interest net revenue interest, which encumber the Leases and are of record as of the Effecti ve Date of this Assignment. Assignor and Assignee recognize that the royalty, and any overriding royalty, production payment and other burdens may vary from Lease to Lease, and the overriding royalty interest assigned to Assignee in each Lease may vary in amount from Lease to Lease. The Override is assigned by Assignor to Assignee free and clear of all costs and expenses. However, the Override shall bear its proportionate share of applicable taxes. The Override shall be proportionately reduced if it is determined that the Leases cover less than 100% of the mineral estate in the Lands, or Assignor owns less than 100% of the leasehold estat e in the Leases. Should any or all of the Leases be renewed or extended as to all or a part of the Lands, the Override shall be applicable to and apply to the renewed or extended Leases. Assi gnor reserves the right to pool all or any of the Leases and Lands with other leases and la nds without the consent or joinder of Assignee and Assignee's Override shall be proportionately reduced in accordance with such pooling. This Assignment is made without warranty, express or implied. The terms and provisions of this Assignment shall be binding on and inure to the benefit of Assignor and Assignee and their respective heirs, legal representatives, successors and assigns. This Assignment is executed as of the date of acknowledgment of Assignor's signature below, but shall be effective for all purposes as of the Effective Date stated above. Assignor [Exhibit "A": Description of Leases and Lands]