Does anyone know of an indemnification clause, transferring the burden to meet the obligations of an executive right, to the Lessee? The obligation was created by a 1948 Texas deed: "Grantor reserves, retains and excepts from this conveyance one-half (1/2) of any and all lease money or bonuses, paid and to be paid upon any oil, gas and other mineral lease given upon said land, together with one-half (1/2) of all rentals … to be deposited to his credit of the credits of his heirs and assigns, in The State Guaranty Bond Bank … giving and letting Grantees, their heirs and assigns, the right and privilege and authority to lease… without joinder of [Grantor, heirs, assigns]… and Grantees promise and obligate themselves, their heirs and assigns to deposit in said bank one-half (1/2) of … lease money, rentals and royalties …grantee shall reserve at lease 1/8th royalty… 1/2 which shall belong to [Grantor, heirs, assigns]. Thanks for your ideas!
Looks like a specialized conveyance that allowed the grantee to lease without approval of Grantor. See a Texas attorney about this.
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