This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
This agreement made by and between A. B., of --------- County, State of
--------, of the first part, and C. D., of ---------County, State of ---------, of the second part,
Witnesseth, that for and in consideration of the rents and royalties, here- . inafter specified, the party of the first part has and does hereby grant and lease to the party of the second part, with covenant of general warranty, the exclusive right of searching for and producing petroleum and natural gas, with the rights necessary and convenient to do these things; and the right to assign, sublet and subdivide a certain tract or parcel of land situated in --------- Township. ---------County, State of ---------, bounded and described as follows: North by lands of -------; east by lands of ---------; south by lands of ---------; west by lands of ---------, containing ---------acres, more or lees.
The second party agrees:
1. To deliver to the first party in tanks or pipe lines the one ---------part of all the oil produced and saved on these premises.
2. If gas is found in paying quantities and utilized away from this ---------to pay party of the first part ---------dollars per annum for the gas from,each well so used.
3. To conduct operations so as to interfere least with farming privileges.
4. To drill no well within --------- feet of the buildings on these premises except by consent of the first party.
5. To begin operations in the block, of which this property is a part, within
--------- from this date, unavoidable accidents excepted, and to begin operations on this property within --------- from the completion of the test wells. And failure to drill 6aid wells shall operate a forfeiture and cancellation of this lease, unless the lessee shall thereafter pay a rental of --------- per acre per year, until a well is so begun or he elects to surrender this lease.
The second party may at his option pay any rental monthly. This block, of which this is a part, being the block of --------- acres in --------- Township,
--------- County, State of ---------.
Second party shall have use of water and gas for necessary machinery, and the right to lay pipe lines for water and gas on and across said premises; also the right to remove any machinery or fixtures placed on the premises by ---------, and may at any time surrender this lease and be released from all liability thereunder.
All erasures or interlineations made before signing.
In witness whereof, etc.
[Certificate of acknowledgement if necessary.]