With what people are saying about the outrageous times to run title in some parts of the county with accompanying out of bounds lease drafts, perhaps it is time to think in a new direction.
From the landowners perspective, anything over a 21 day draft is a lease option, in my opinion. A lease option in which he is not paid.
If someone want to give you an extended draft, make it a 10% down payment for a 30 day draft, 20% down payment for a 60 day draft and a 30% down payment for a 90 day draft. You get the idea. Now the company/broker has made an investment and you have received value for taking your minerals off the market. You grant the option on what you believe you own and do not warrant title and the company has no recourse in the event of failure of title.
That is the option.
Now the split payment. A real lease, not an option. 50% down payment and 50% payable XX days in the future. If the future payment is made and title is good, then the transaction ends with the second payment. If title fails to a portion, then the second payment is adjusted to reflect the proper bonus payment. Except in the event of complete title failure, the second payment must be made. Perhaps a bond to that effect if you are talking hundreds of thousands of dollars.
If you are not sure in how to craft such provisions, contact a qualified land professional for advice and guidance.