Lessor Form ‘D’
Rental FormOIL AND GAS LEASE
THIS AGREEMENT (the “Lease”, or “Agreement”), is made and entered into this _____
day of _____, _____, by and between _____, (the “Lessor”) whose address is _____, and _____,
(the “Lessee”) whose address is _____, called the “Lessee.” 1. Lessor, in consideration of _____ DOLLARS ($_____) in hand paid, the royalties and
the agreements of Lessee provided for below, hereby grants, leases, and lets to Lessee for the
sole and only purpose of exploring, drilling, operating for, and producing oil and/or gas and of
laying pipelines, storing oil, building tanks, power stations, telephone lines, roads and structure s
to produce, save, care for, treat and transport oil and gas from the land leased, only the following
described land situated in _____ County, State of _____, sometimes referred to as the “l eased
premises” or the “land”:
(Description of Land)
And containing _____ acres, more or less. 2. This Lease shall be for a term of _____ years from this date (the “Primary Term”) a nd
subject to the further terms and conditions of this Lease, as long thereafter as oil and gas, or
either of them, is produced in paying quantities from the land or lands with which the land is
pooled, and the royalties are paid as provided for in this Lease.3. The royalties to be paid by Lessee are: (a) on oil, _____ of the market value at the point
of sale of all oil produced and sold from the land covered by this Lease; or, at Lessor’s option,
_____ of the oil produced and saved in kind to be delivered to Lessor at the wells or to the credit
of Lessor into the pipeline to which the wells may be connected; and, (b) on gas, including
casing head gas or other gaseous substance produced from the land or sold or used off the
premises or for the extraction of gasoline or other products, the market value at the point of sale
of _____ of the gas so sold or used. However, in no event shall the royalty paid to Lessor be less
than the Lessor’s royalty share of the actual amount realized by the Lessee from the sale of oil
and/or gas. All royalty paid to Lessor shall be free of all costs and expenses relat ed to the
exploration, production and marketing of oil and gas production from the Lease including, but
not limited to, costs of compression, dehydration, treatment and transportation. While there is a
well on the leased premises capable of producing gas in paying quantities but the production is
shut-in or suspended for any reason, then and in such event, Lessee may pay as royalty on or
before 90 days after the date on which (1) production from any well is shut-in, or suspended or
(2) this Lease is no longer maintained by compliance with one of the other preservation
provisions, whichever is the later date, and thereafter at annual intervals the sum i n the amount of
$______, and if this payment is made in accordance with the terms of this Lease, thi s Lease shall
not terminate, but, shall continue in full force and it will be considered that gas is being produced
from the leased premises in paying quantities within the meaning of each pertinent provision of
this Lease. It is understood and agreed that this payment shall be in lieu of and excuse the
payment of the annual delay rentals which will have otherwise accrued and become paya ble
under the terms and provisions of this Lease. In no event shall shut-in well payments maintai n
this Lease in force for a period exceeding two (2) years beyond the expiration of the Primary
Term. Should shut-in royalty payments not be made in a timely manner as provided in this
paragraph, in that event, it shall be considered for all purposes that there is no producti on or no
excuse for delayed production of gas from any well or wells, and unless there is then in effect
other preservation provisions of this Lease, this Lease shall terminate at midnight on the last day
provided for the payment of the shut-in royalties and Lessee shall furnish Lessor a release of a ll
of its interest in and to this Lease. Lessee agrees that before any gas produced from the leased
premises is used or sold off the leased premises, it will be run, free of cost to Lessor, t hrough an
adequate oil and gas separator of a conventional type or equipment at least as effi cient, to the end
that all liquid hydrocarbons recoverable from the gas by such means will be recovered on the
Lease. Lessee agrees that it will not enter into any sale of production from thi s Lease which
shall extend more than _____ years from the effective date of the sales contract unle ss the
contract has adequate provisions for redetermination of price at intervals of not less frequent ly
than _____ year(s) to assure that production from this Lease is not being sold for less than the
then current fair market value of the production being sold. During the periods that Lessee i s
obligated to pay Lessor in cash for the royalties provided for in this Lease, the royalties shall be
paid on or before the 20 th
day of the month following the date production is sold or used or
delivered off the leased premises. Should Lessee fail to make these timely payment s, Lessor
may give Lessee notice in writing of not less than 90 days specifying the 20 th
day of a month by
which all royalties due and payable to Lessor must be paid for all production sold or deli vered
off the leased premises through the end of the month preceding the specified date of payment,
and if such payment is not made by the date specified by the Lessor, then this Lease shall
immediately terminate and be of no further force and effect, and Lessee shall furnish Lessor a
full release of all rights in and under this Lease. This paragraph shall be effecti ve regardless of
whether or not Lessor has executed or has been requested to execute division orders. 4. If actual drilling is not commenced on the land on or before twelve (12) months from the
date of this Lease, the Lease shall terminate as to both parties, unless on or before that
anniversary date Lessee pays to Lessor, or to the credit of Lessor, at _____, which bank and its
successors shall continue as the depository for all rentals payable under this Lease, regardl ess of
any changes in ownership of delay rentals, the sum of _____ DOLLARS ($_______) (the
“rental”) which shall cover the privilege of deferring commencement of operations for drill ing
for a period of twelve (12) months. In like manner and on like payments, operations may be
further deferred for like periods of twelve (12) months each during the Primary Term. The
payment of rentals may be made by Lessee’s check delivered to Lessor or to the bank on or
before the date payment is due. The bonus paid is consideration for this Lease and shall not be
allocated as mere rental for a period. Lessee may at any time execute and deliver to Lessor or to
the depository named above, a release or releases covering any portion or portions of the land
and surrender this Lease as to those portion or portions, and be relieved of all obligations as to
the acreage surrendered, except for the indemnification obligations described in paragraph 17
and the plugging obligations in paragraph 19 of this Lease. Thereafter any rental payable sha ll
be reduced in the proportion that the acreage covered by the Lease is reduced by the release or
releases. Lessee agrees that if at any time any delay rental is not paid on or before the date on
which it is required to be paid under the terms of this Lease, this Lease will automatically expire
and Lessee shall prepare and execute a recordable release instrument covering the l and and shall
deliver it to Lessor. 5. Lessee is granted the right to pool or unitize this Lease, the land covered by it or any part
or parts of the land as to all strata or any stratum with any other land, a lease, leases or parts as to
all strata or any stratum for the production of oil or gas. However, _____% of the leased
premises covered by this Lease shall be included within any pooled unit. Pooling in one or m ore
instances shall not exhaust the right of Lessee to pool this Lease or portion into other or different
units. Units pooled for oil shall not exceed forty (40) acres plus a tolerance of ten percent (10%),
and units pooled for gas shall not exceed one hundred sixty (160) acres plus a tolerance of ten
(10%), provided that if any federal or state law, executive order, rule or regulation shall re quire
development of the field or allocate a producing allowable in whole or in part on acreage per
well, then any such units may embrace as much additional acreage as may be so required or as
may be used in the allocation or allowable to allow the maximum amount of producti on from the
unit. Lessee shall file written unit designations in the county in which the land is located. Each
unit shall be designated before the completion of a well and a copy of the unit desi gnation shall
be furnished to Lessor within thirty (30) days after it is filed with the appropriate regulat ory
bodies. The timely filing and furnishing Lessor a copy are of the essence to the validit y of any
unit designation. Drilling or reworking operations and production on any part of the pooled
acreage shall be treated for all purposes as if the drilling or reworking operations were on or the
production were from the land described in this Lease, whether the well or wells are l ocated on
the land covered by this Lease or not. The entire acreage pooled into a unit shall be treated for
all purposes, except the payment of royalties on production from the pooled unit, as if it we re
included in this Lease. This paragraph shall never be construed as a limitation or restriction of
any other provision of this Lease in lieu of the royalties provided for in this Lease. Le ssor shall
receive on production from a pooled unit only the portion of the royalty stipulated in this L ease
as the amount of the acreage placed in the unit or its royalty interest, on an a creage basis, bears
to the total acreage pooled in the particular unit involved. In the event only a part or parts of the
land covered by this Lease is pooled or unitized with other land or lands to form a pool ed unit or
units, operations on or production from the unit or units, will maintain this Lease in forc e only as
to the land included in the unit or units. This Lease may be maintained in force as to any land it
covers and not included in a unit or units in any manner provided for in this Lease, provided t hat
if it be by rental payments, rentals shall be reduced in proportion to the number of acres covered
by this Lease and included in a unit or units. 6. (a) On the completion of any well capable of producing oil or gas in paying quantities or
as a dry hole (completion being the release of the completion rig, or if the well is a dry hole, the
release of the drilling rig), Lessee shall, within one hundred twenty (120) days of that date ,
commence the drilling of another well or wells on the leased premises (commencem ent being the
actual spudding of the succeeding well), or, if it be within the Primary Term, Lessee shall
commence or resume the payment of delay rentals for all acreage not otherwise being maintained
under the provisions of this Lease, within one hundred twenty (120) days from the date of
completion and abandonment of a dry hole or holes or the cessation of production. Failure to
commence an additional well or wells within the time period provided, or failure to resume the
payment of delay rentals within the time period provided, shall terminate this L ease ipso facto as
to all lands except those included within the surface boundaries of any governmental prorati on
unit otherwise being maintained under the provisions of this Lease. This shall not be c onstrued
to limit or modify Lessee’s obligation to drill any offset wells provided for in this Lea se. (b) If,
at the expiration of the Primary Term, oil and/or gas are being produced in paying quantiti es, but
production then ceases from any cause, this Lease shall not terminate as to the governmental
proration attributable to the well or wells affected by the cessation of production if Lessee
commences reworking or additional actual drilling within sixty (60) days after the cessati on of
production, and the reworking or additional drilling is diligently prosecuted with no cessation of
more than sixty (60) consecutive days, and production in paying quantities then resumes. (c) At
the end of the Primary Term and the expiration of the continuous development provision in
subparagraphs 6(a) and 6(b) above, this Lease shall expire as to all acreage except for t he
minimum acreage established by existing field rules of the regulatory body having jurisdi ction as
being necessary to allow Lessee to obtain the maximum allowable for any well produc ing in
paying quantities located on the leased premises or on acreage pooled with the le ased premises.
In the absence of field rules, an oil well shall be deemed to hold forty (40) acre s and a gas well
deemed to hold one hundred sixty (160) acres. As to each proration or spacing unit held at the
end of the Primary Term (or, if applicable, the end of continuous development operations),
Lessee shall release all depths below 100 feet beneath the deepest depth actual ly producing in the
well located on a proration unit or pooled unit. 7. The rights of either Lessor or Lessee may be assigned in whole part and the provisions of
this Lease shall extend to the heirs, executors, administrators, successors and assigns; provide d
however any assignment by Lessee shall require the prior written consent of Lessor, which
consent shall not unreasonably withheld. No change or division in ownership of the land,
rentals, or royalties, however accomplished, shall operate to enlarge the obligations or dim inish
the rights of the Lessee. No change or division in the ownership of land, rentals, or royaltie s
shall be binding on Lessee for any purpose until the person acquiring any interest has furnished
Lessee with the instrument or instruments, or certified copies of them, constituting his/ her chain
of title from the original Lessor. In the event of an assignment of this Lease to a segregated
portion of the land, the rentals payable under the terms of this Lease shall be apportione d
between the several leasehold owners, ratably, according to the surface area owned by ea ch, and
a default in rental payment by one shall not affect the rights of other leasehold owners. An
assignment of this Lease, in whole or in part, shall, to the extent of the assignment, relieve and
discharge Lessee of any obligations under this Lease, arising after the assignment, a nd if Lessee
or an assignee of part or parts of the Lease shall fail or make default in the payme nt of the
proportionate part of the rentals due from the Lessee or an assignee or fail to comply wi th any
other provision of this Lease, the default shall not affect this Lease insofar as it covers a part of
the land on which Lessee or any assignee shall make payment of rentals. If any assignment is
made of this Lease, or any portion of it, it is agreed the owner(s) of the Lease at t he time of the
assignment will, within thirty (30) days of the date of the assignment, advise Lessor in writ ing of
the identity and address of the new assignee, and furnish a copy of the assignment. No
assignment will be binding on Lessor until this information is furnished to Lessor. 8. Lessee shall not be liable for delays or defaults in its performance of any agreement or
covenant of this Lease due to force majeure. The term “force majeure” shall me an any act of
God including but not limited to storms, floods, washouts, landslides, acts of the public enemy,
wars, blockades, insurrection or riots, strikes or lockouts, epidemics or quarantine regulations,
laws, acts, orders or requests of federal, state, municipal or other governments or governmental
officers or agents under color of authority, freight embargoes or failures, exhaustion or
unavailability or delays in delivery of any product, labor, service or material. The term “force
majeure” shall not include lack of markets for production or any other events affecting only the
economic aspects of drilling, development, or production. If Lessee is required, ordered, or
directed by any federal, state or municipal law, executive order, rule, regulation, or re quest
enacted or promulgated under color of authority to cease drilling operations, reworking
operations, or producing operations on the land covered by this Lease or force majeure is
terminated and for a period of sixty (60) days after termination, each and every provision of t his
Lease or implied covenant arising under it that might operate to terminate it or the estate
conveyed by it shall be suspended and inoperative and this Lease shall continue in full forc e;
provided, however, in no event will the Primary Term be extended unless Lessee has begun the
actual drilling of a well prior to the date of the expiration of the Primary Term. 9. If Lessor owns an interest in the land less than the entire and undivided fee simple estate,
then the royalties and rentals provided for in this Lease shall be paid to Lessor i n the proportion
which Lessor’s interest bears to the entire and undivided fee simple estate in the land. 10. Lessor’s execution of this Lease does not constitute indemnification, guarantee, or
warranty, express or implied, to any person. Lessee, after giving Lessor sixty (60) days written
notice, at its option, may discharge any tax lien on the land. In the event Lessee does so, Lessee
shall have to right to apply rentals accruing to Lessor to reimburse that payment. 11. In the event this Lease expires for any reason as to all or any portion of the land, Le ssee
and/or its assigns, shall be obligated to furnish Lessor with a written, recordable rel ease covering
all, or the portion of the land covered by the Lease expiration. 12. Lessee shall advise Lessor in writing the location of all wells drilled on the l eased
premises or on land pooled with the leased premises, within thirty (30) days after a comple tion or
abandonment. 13. Lessee shall have the free use of water from the leased premises except fresh water from
Lessor’s or surface owners or tenants wells, tanks, creeks, rivers, streams and springs, for all
operations solely on the leased premises. Under no circumstances shall surface water or
underground fresh water from this Lease be used for water flood, cycling, or pressure
maintenance purposes. Lessee shall comply with all applicable rules in disposit ion (by
reinjection or otherwise) of salt water, brine, or other fluids utilized in or resulting from
operations, and shall not cause or permit any substance to damage or pollute the surface of the
leased premises or any fresh water sands lying under it. 14. If at the expiration of one (1) year after the end of the Primary Term, this Lease is
perpetuated by production of oil and/or gas in paying quantities, then, with respect to each
governmental proration or spacing unit assigned to a well on the leased premises or lands poole d
with the leased premises, this Lease shall automatically terminate as to all rights granted by this
Lease below 100 feet below the deepest depth from which oil and/or gas is then being produce d
in each well. Provided however, if at the expiration of one (1) year after the end of the Pri mary
Term, Lessor is engaged in drilling an additional well or wells pursuant to the provisi ons of
paragraph 6 of this Lease, this Lease shall not terminate with respect to the depths described in
this paragraph so long as development continues in accordance with the terms of paragraph 6 of
this Lease. Furthermore, it at the expiration of one (1) year after the end of the Pri mary Term,
Lessee is engaged in deepening an existing well, then for purposes of this paragraph only, the
deepening of an existing well will be considered a continuous development operation under
paragraph 6 of this Lease, and so long as Lessee continues developing the leased premises in
accordance with the terms of paragraph 6, the rights to the depths described in thi s paragraph
will not terminate.
If at any time after the expiration of the Primary Term, any governmental proration or spacing
unit assigned to a well should be reduced in size, the Lessee shall have sixty (60) da ys to
commence the drilling of another well or wells as described in paragraph 6 of this Le ase, or this
Lease shall automatically terminate with regard to the acreage no longer cont ained within the
applicable proration or spacing unit. If at any time after one (1) year after the expi ration of the
Primary Term, should the deepest producing horizon attributable to any governmental proration
or spacing unit on this Lease cease to produce, Lessee shall have sixty (60) days to be gin either
deepening that well or commencing the drilling of another well or wells on that prorat ion or
spacing unit in accordance with the provisions of paragraph 6 of this Lease, or this Lease, insofar
as it covers that proration or spacing unit, shall automatically terminate with re gard to all depths
below 100 feet below the deepest depth from which oil and/or gas is then being produced.
To the extent that any part of this Lease remains in effect, then Lessee shal l retain such
easements across the terminated portions of the Lease as shall be reasonably necessary for
ingress and egress to enable Lessee to develop and operate the remaining portion of this L ease.
Lessee shall not be required to remove or relocate any pipelines, tanks, separators, or other
equipment or machinery used in connection with production on the portion of this Lease that
remains in effect. 15. Lessee shall furnish Lessor with copies of all logs of all wells drilled by Lessee on the
land. As to any well drilled under the provisions of this Lease, Lessor, or Lessor’s
representatives, or any one or more of the same, shall have access to the well and shall be
furnished daily drilling reports, the details of any drill stem tests taken in the we ll, and the results
of any core analysis or analyses which shall be run on any cores taken while drilling the well.
The reports, logs, and information shall be furnished seven (7) days after the same are obtaine d
or compiled by Lessee. Additionally, if a well is a producer, Lessee shall furnish Lessor wi th a
copy of the division order title opinion for the well. 16. If Lessor is also the owner of the surface, Lessee shall pay Lessor for all damages and
losses caused by Lessee’s operations to timber, permanent pastures, livestock, growing crops,
fences, water and irrigation wells, including but not limited to damages for roads, loca tions,
pipelines, etc. on or across the lands and to any physical structures on the land caused by a ny and
all operations under this Lease. Damages will be the greater of the market value or replacement
cost of the item diminished or destroyed, or the normal amount for damages in the area for like
items. Lessee, at Lessee’s sole expense, will restore the land to its former condit ion as nearly as
possible after the completion or after the plugging and abandonment of each well, and a fter the
abandonment of this Lease. 17. Lessee, its successors and assigns, agrees to indemnify, defend and hold harmless the
Lessor, and each of them, from and against any and all claims, losses, liabilities, fines, costs,
expenses (including attorneys fees and expenses) resulting from or arising out of or in connection
with all operations of or on the Lease, and all actions of its agents, contractors, or subcontractors,
regardless of the cause of any claim, loss, liability, fine, cost, or expense. This provision and its
indemnities shall survive the termination of this Lease and shall inure to the suc cessors, heirs and
assigns of Lessor and Lessee. 18. Lessee, its successors and assigns, by its acceptance of this Lease, expressly agree to
comply with all applicable laws, rules, and regulations and assumes full responsibility for, and
agree to indemnify, defend and hold Lessor harmless from and against any loss, liability, c laim,
fine, expense, cost (including attorney fees and expenses), and cause of action caused by or
arising out of the violation (or defense of the alleged violation) of any federal, state or local laws,
rules or regulations applicable to any waste material, drilling matter fluid or a ny hazardous
substances released or caused to be released by Lessee, Lessee’s agents, or independent
contractors from the land into the atmosphere or into or on the land or any water course or body
of water, including ground water. Additionally, upon receiving any notice regarding any
environmental, pollution, or contamination problem or violation of any law, rule or regulat ion,
Lessee will forward a copy to Lessor by certified mail within thirty (30) days. If Lessee fails
to do so, Lessor shall have the option to terminate this Lease on thirty (30) days written notice to
Lessee. This provision and its indemnities shall survive the termination of this Lease , and shall
insure to the successors, heirs and assigns of Lessor and Lessee. 19. Without the prior written consent of the Lessor, Lessee shall not allow any well loc ated
on the leased premises to remain in a shutin, temporarily abandoned, or otherwise non-
productive state for a period of more than six (6) months from the date of last production or the
time permitted by the rules and regulations of the applicable regulatory authority, whic hever is
less, without beginning plugging and abandonment operations with respect to the well and
restoring the location, and these procedures must be completed within two (2) months of thei r
initiation. The only exception to this shall be gas wells capable of production whic h are shutin
pursuant to the provisions of paragraph 12 above regarding shutin royalties, and for which shutin
payments are being made in accordance with those same provisions. Violations of the term s of
this paragraph shall be considered a material breach of this Lease and will serve to terminate this
Lease. 20. Lessee shall have the right for a period of six (6) months following the expiration of this
Lease or the release of any land covered by this Lease to remove all property and fi xtures placed
by Lessee on the land, including the rights to draw and remove all casing. If Lessee fai ls to
remove any property or fixtures, Lessor shall have the option to either claim the propert y, in
whole or in part, as Lessor’s own, or have the properties and fixtures removed, in whole or in
part, at Lessee’s expense. If Lessor opts to remove the property, additional expenses for surface
and subsurface damages and restoring the land shall be charged to Lessee; provided however,
Lessee shall not be relieved of its liability to plug any abandoned well. Lessee a lso agrees to the
following: (a) Lessee will bury all pipelines below plow depth (at least 36” of cover) but, in all
events, deep enough to prevent damage in the event roads handling heavy trucks and equipment
should traverse over them. No harm shall come to existing timber trees, if possible, when laying
any pipeline. (b) No well shall be drilled within one thousand (1,000) feet of any house, barn, or
any other improvement now on or constructed prior to the commencement of site preparation, on
the lease premises, without Lessor’s prior written consent. No seismographic operations
employing the usage of explosives shall be conducted within fifteen hundred (1,500) feet of any
pond, tank, dam, known spring, or surface aquifer on the leased premises without the prior
written consent of Lessor. (c) Lessee agrees to place and maintain fences surrounding all pits,
pump jacks and motors sufficient to turn livestock. (d) Within a reasonable time, but not
exceeding six (6) months, after Lessee’s need shall have ceased, Lessee shall fill a ll pits and
other excavations made by Lessee on the leased premises. (e) Lessee will not use or c onstruct
road(s) other than the main entrance now used by Lessor, for Lessee’s access onto and off of the
leased premises, unless otherwise agreed between Lessor and Lessee. Lessee agrees to i nstall
gates or cattle guards at each point where Lessee’s roads cross an interior fence line on the leased
premises and to install both a gate and cattle guard where roads exit or enter t he leased premises.
Lessee will provide locks on exterior gates and provide Lessor with a key and will use its best
efforts to ensure that such gates are closed and locked when not in actual use. (f) Prior to and on
written consent of Lessor, Lessee shall advise Lessor regarding the location and structure of all
pipelines, roads, culverts, cattle guards, and fences used and built by Lessee, and all roa ds used
by Lessee shall be maintained in good condition. All roads, culverts, cattle guards, and fe nces
which are installed and built by Lessee shall not be removed when Lessee’s operations are
completed and shall become the sole property of Lessor. Prior to laying any telephone li nes,
erecting any storage tank(s), power station(s), compressor station(s), or any other structure,
device or facility allowed by this Lease and required by Lessee for producing oil and ga s and
operating this Lease, Lessee shall advise Lessor of Lessee’s intentions, and Lessor and L essee
shall mutually decide on the location of any facilities, taking into considerati on the surface used
by Lessee’s needs in conducting its operation. In no event shall the written approval of L essor
be unreasonably withheld. No pipeline constructed by Lessee shall occupy more than _____ feet
of land in width. (g) Lessee agrees to maintain all well sites in a neat and orderly fashion,
including but not limited to, the removal of all casing, tubing, pipe, and equipment wi thin one
hundred twenty (120) days of cessation of a well’s use in the production of oil and/or gas. This
shall include painting, keeping all lease equipment in good repair, weed control, and t he
graveling or other temporary surfacing of all lease roads and well sites. Lessee agrees not to
discharge any oil, condensate, salt water, or any substance used in drilling or production onto the
leased premises under any circumstances. Prior to commencing production from any well on t he
lands, the tanks and other storage vessels shall be enclosed by an earthen berm of sufficient
height to contain any discharge which might occur. In the event that there is a discha rge, the
Lessee agrees to restore the affected area of the lands and immediately report the discharge, if
required by law, to Lessor and the appropriate governmental authority having jurisdiction over
the discharge. (h) Lessee agrees that any party entering the leased lands for its be nefit, or under
its direction, will not carry on any activity except those operations necessary and connected with
drilling for and producing oil and/or gas. Lessee agrees that any and all persons entering the
lands for its benefit, or under its direction, will not hunt, fish, hike, or use for recreation a ny part
of the leased premises. Lessor reserves the right to exclude from the land any individual who has
violated this provision and Lessee agrees, on written notice, to notify that individual that he/she
will not be allowed to enter onto the land. Lessee shall agree to include a provi sion prohibiting
these activities, and allowing for exclusion from the land in all contracts with third parties which
will enter the leased premises for Lessee’s benefit.
This Lease is executed by Lessor as of the date of the acknowledgment below, but shall
be deemed dated as of the date specified in the introductory paragraph of this Lease.
LESSOR
LESSEE
(acknowledgments)
