Fill and Sign the Knox V Shell Western E P Inc 531 so 2d 1181casetext Form

TERM NONPARTICIPATING ROYALTY DEED(From Mineral Owner) State: County: Grantor: (Name and Address) Grantee: (Name and Address) Effective Date: Grantor, named above, owns an undivided mineral interest in the lands described below (the "Lands"), which mineral interest is subject to an Oil and Gas Lease (the "Lea se") from Grantor, as Lessor, to ____, as Lessee, dated ____, recorded in Volume ____, page ____ of the ____ Records of the county and state named above. For adequate consideration and subject to the further terms of this Deed, Grantor sells, conveys and transfers to Grantee, named above, an undivided (Percent or Fraction) interest of the royalty (the "Royalty") in and under the Lands described as follows: (Description of Lands Covered by Deed) This conveyance of Royalty from Grantor to Grantee is for a limited term of ____ years (the "Term") from the Effective Date stated above. If oil and/or gas are being produced i n paying quantities from the Lands at the end of the Term, this grant shall continue and be deemed in effect for as long thereafter as oil and/or gas are produced in paying quantities from the Lands. The Royalty conveyed by this Deed is subject to the terms and provisions of the Lease described above, or any subsequent lease that may be granted during the Term, and is a nonparticipating royalty interest. Grantee shall not own any rights, title, interests, or c laim in the leasing or executive rights, bonus, or delay rentals, all of which are reserved by Grantor. If there is no oil and/or gas being produced from the Lands at the end of the Term, even if the re is a lease on the Lands, this grant and Grantee's interest shall terminate. Upon terminating of the grant of royalty as provided in this Deed, the Royalty shall revert and vest in the Grantor or t he Grantor's successors and assigns. This Deed is delivered by Grantor to Grantee without warranty of title, express or implied. It is executed by Grantor as of the date of acknowledgment of Grantor's signature, but shall be deemed effective as of the Effective Date stated above. Grantor