We are in negotiations with an oil company and they struck this from our Exhibit B.
"No Warranty of Title: Lessor does not warrant or agree to defend title to the lands here leased. Lessee has assumed the risk of title lien, cloud, or claim. Lessee agrees to hold harmless and indemnify Lessor from any and all claims, causes of action and disputes, including attorney's fees and court costs that Lessor may incur as a result of Lessee asserting any claim to the minerals leased."
And they have added:
"Notwithstanding anything to the contrary contained in the Oil and Gas Lease, Lessor hereby warrants and agrees to defend this title to the Leased Premises only as to any party or parties claiming by, through or under Lessor."
If anyone has an opinion on this as to whether we should go along with this verbiage, please respond.
Many thanks in advance.