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HomeMy WebLinkAbout977773ASSIGNMENT OF OVERRIDING ROYALTY INTEREST This Overriding Royalty Assignment is made this 19th day of July, 2014 by TRAIL ENERGY, LLC, with an address of 6029 W. Sage Fork Rd., West Jordan, Utah, 84081, (hereinafter called "Assignor"). Assignor owns a working interest in Oil, Gas and Mineral Leases (the "Leases covering lands located in Lincoln County, Wyoming (the "Lands The Leases and Lands are described on Exhibit "A" to this Assignment and is deemed a Renewal Lease from the previously recorded overriding royalty assignment as described in Exhibit "A For adequate consideration, Assignor transfers, assigns and conveys to the following named parties (collectively called "Assignee in the proportions indicated, an overriding royalty interest in all of the oil, gas and other minerals produced, saved and marketed from all of the Lands and Leases equal to a total of .50% of 8 /8ths (the "Override O'Hare Energy Resources Corporation 1703 South Wheeling Way Aurora, Colorado 80012 The Override assigned to Assignee is subject to the following provisions: .828% of 8 /8ths 1. The terms of the Leases, any amendments, corrections, additions, or modifications of the Leases made prior to or after the execution of this Assignment. Assignee agrees that future amendments corrections, additions, or modifications of the Leases may be made without the consent or joinder of Assignee. 2. All applicable laws, rules, regulations and orders of appropriate governmental authorities and agencies having jurisdiction over the Lands and Leases. 3. The Override is assigned free and clear of all costs and expenses of exploration, drilling, development and operation, but except for and subject to its proportionate share of actual third party costs incurred for gathering, transportation and marketing, and its proportionate share of severance, ad valorem and other similar taxes. No payments to the Override will be made or shall accrue on any oil, gas and casinghead gas or other hydrocarbon substances or minerals used for operating, developing, or producing purposes on the Lands under the Leases, or in treating the products produced to make them marketable, or which are unavoidably lost. No payments shall be made to the Override on gas and casinghead gas used for recycling or repressuring operations that benefit the Leases. 4. All payments to the Override shall be made or delivered to Assignee in the same manner provided in the Leases for the payment of royalty to the lessors. 5. If a Lease or Leases cover less than the entire mineral estate in the Lands, Assignor's working interest represents less than 100% of the leasehold estate in a part of all of the Lands, or if for any reason title should fail as to all or a part of the leasehold estate owned by Assignor, the Override assigned to Assignee shall be reduced proportionately as to the affected Lease and Lands. 6. In the event the Leases are renewed, or the primary term of the Leases extended by the Action of Assignor's or Assignor's successors, assigns and /or legal representatives, then the Override shall remain a burden against the Lease as so extended, or against the renewed Leases. 7. This Assignment may be subject to a certain Term Overriding Royalty "Term ORRI as previously agreed to by Assignee. In the event the Lands and Leases are actually subject to the Term ORRI, Assignee shall immediately assign its pro -rata share to the Term ORRI owner in the same form as previously assigned and recorded. Should Assignee fail to make this assignment, Assignee shall be solely liable for its pro -rata share of Term ORRI it failed to assign to the Term ORRI owner. 977773 7/28/2014 4:50 PM LINCOLN COUNTY FEES: $21.00 PAGE 1 OF 4 BOOK: 837 PAGE: 14 ASSIGNMENT JEANNE WAGNER, LINCOLN COUNTY CLERK 11111111IIIIII 1111111111 Ii ii 1111! III 11111 IIIII illll iii II11I 1111111III 11li iii Page 1 1 of 3 The terms and provisions of this Assignment shall inure to the benefit of Assignor and Assignee and to their heirs, legal representatives, successors and /or assigns. 2014. IN WITNESS WHEREOF, Assignor has executed and delivered this Overriding Royalty Assignment to Assignee, the day and year first above written. TRAIL ENERGY, LLC By c4 Jon�fl$n Baker, Landman STATE OF UTAH COUNTY OF SALT LAKE `MASON NOVELS Notary Public State of Utah Comm. No. 664735 My Comm. Expires Jul 1, 2017 ACKNOWLEDGEMENT The foregoing Assignment was acknowledged before me on the day of Ml 2014, by Jonathan Baker, who, being by me duly sworn did say that he is the Landman for Trail Erfergy, LLC, a Utah Limited Liability Company, and that the instrument was signed in behalf of the company and that he acknowledged the instrument to be the free act and deed of the company. GIVEN UNDER MY HAND AND OFFICIAL SEAL OF OFFICE on this day of Notary Public in and for the State of Utah My Commission Expires: 0 7 P-0 Page 1 2of3 r STATE OF COLORADO COUNTY OF 2014. O'HARE ENERGY RESOURCES CORPORATION /4. otary Public in and for the State of Colorado The foregoing Assignment was acknowledged before me on the day of 2014, by i ci =•eing by me duly sworn did say that he is the te r for O'Hare Energy Resources Corporation., a p Company, and that the instrument was signed in behalf of the company and that he acknowledged the instrument to be the free act and deed of the company. GIVEN UNDER MY HAND AND OFFICIAL SEAL OF OFFICE this day of My Commission Expires: MARIA PALADE NOTARY PUBLIC STATE OF COLORADO NOTARY ID 20124012977 MY COMMISSION EXPIRES NOVEMBER 28, 2016 Page 1 3 of 3 Original Lease Renewal Lease Expired Lease Doc. BK PG Renewal Lease Renewal Date State County TWP RGE MER SEC PTN Acres WYW- 156807 929116 657 96 WYW- 183079 June 1, 2014 Wyoming Lincoln 19N 118W 6th PM 34 All 640 Exhibit "A" Attached to and made a part of that certain Assignment of Overriding Royalty Interest by and between Trail Energy, LLC and O'Hare Energy Resources Corporation.