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Fill and Sign the Terminalling and Storage Agreement Sec Form

Fill and Sign the Terminalling and Storage Agreement Sec Form

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ROYALTY OWNER'S INDEMNITY AGREEMENTLease Number/Name This Agreement is dated to be effective ____. It is between ____ (the "Company"), and ____ (the "Owner"). Owner appears of record as owning an undivided ____ royalty interest (the "Claimed Interest") in the following lands (the "Lands") in ____ County, ____: [Description of Lands] Company has received a Title Opinion stating (An Adverse Claim, Cloud on Title, Break in the Chain of Title, Dispute, etc.) exists in Owner's chain of title to this royalty interest (the "Cloud on Title"). Owner has attempted, but due to (Passage of Time, Inability to Locate or Death of Part ies Making a Claim in the Chain of Title, etc.) has been unable to remove the claimed Cloud on Title. A producing oil and/or gas well is located on the Lands. Company purchases oil and/or gas from the well or is responsible for disbursing proceeds from the sale of that oil and/or gas. Owner desires to receive payment on the Claimed Interest for the proceeds of oil and/or gas produced and sold from the Lands. For adequate consideration, Owner warrants the title to the Claimed Interest i n the Lands, and agrees to indemnify and hold Company harmless from and against any and all claim s, damages, and judgments, including penalties, attorney's fees, costs and interest, if any, resulting from, relating to, or arising from payments made by Company to Owner attributable to the Claimed Interest. Owner shall promptly notify Company of all claims, actions, or suit s against Owners for which Company is or is to be indemnified. Owner agrees that if Company receives notice of any question, claim, or dispute regarding Owner's title to the Claimed Interest, from whatever source, Company may withhold payments attributable to the Claimed Interest until the Cloud on Title is disposed of or removed, to Company's satisfaction, by settlement or final judgment of a court of competent jurisdiction. Witnesses: Signature of Owner Federal Tax I.D. Number or Social Security Number: Address: Date Signed:

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