1. Terms state that the primary lease term is three years, and for as long thereafter that minerals are being found, and for "operations" are being conducted.... I am reading this forum correctly. What is required to be "free and clear" afterward - is this the Pugh clause I'm reading about?
2. There are three Tracts listed, so it sounds as though I should have separate leases for each tract? Do you agree?
3. I see no mention of the lease payment except a 1/4 royalty of the market value - but a verbal "general figure" has been mentioned...that sounds questionable to me, especially after seeing some of the figures in this forum - the figure mentioned is a fraction of what is mentioned here.
4. It sounds as though I should not agree to a warranty of title...correct?
Any help would be appreciated.