HomeMy WebLinkAbout978389 ASSIGNMENT OF OVERRIDING ROYALTY INTEREST
This Overriding Royalty Assignment is made this fi of 41 f 2014 by LANDWELL
ENERGY CORP., with an address of 1703 South Wheeling Way, Aurora, Colorado 80012, and TRAIL
ENERGY, LLC., with an address of 6029 W Sage Fork Rd, West Jordan, UT 84081 (together 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.
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 2.00% of 8 /8ths (the "Override
Monty E. Hoffman 1.25% of 8 /8ths
6565 West Hoover Place
Littleton, Colorado 80123
z Paul R. Lamerson .75% of 8 /8ths
M 1941 South Parfet Drive
LL a Lakewood, Colorado 80227
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The Override assigned to Assignee is subject to the following provisions:
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0 u 1. The terms of the Leases, any amendments, corrections, additions, or modifications of the Leases
a w 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
N z consent or joinder of Assignee.
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o N 1.4 z 2. All applicable laws, rules, regulations and orders of appropriate governmental authorities and
N o o agencies having jurisdiction over the Lands and Leases.
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3. The Override is assigned free and clear of all costs and expenses of exploration, drilling,
ri a. z development and operation, but except for and subject to its proportionate share of actual third
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Z party costs incurred for gathering, transportation and marketing, and its proportionate share of
°D severance, ad valorem and other similar taxes. No payments to the Override will be made or
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a u o z shall accrue on any oil, gas and casinghead gas or other hydrocarbon substances or minerals
o z m w 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 Tess 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.
Page 1 1 of 4
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TRAIL ENERGY, LLC.
By:
ITS:
ACKNOWLEDGEMENT
STATE OF Uh
COUNTY OF
The foregoing Assignment was acknowledged before me on the /'day of ,2014, by
Jonathan Baker, who, being by me duly sworn did say that he is the Landman for Trail Energy, a 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
2014.
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4CONAII I I I I
Notary Pu Iic in and for the State of
My Commission Expires: o 01 L
Kr\riUN HIGBEE
Notary Public
1 ,M State of Utah
Comm. No. 657309
M% ^omm. Expires Sep 27, 2016
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