GAS LEASE COMMITTEE
The Committee has negotiated the final lease agreement with Dale Resources,
and a signing event is now planned. Dale Resources will be printing and
mailing complete lease packages on Thursday, June 26, to all un-signed
homeowners.
A lease signing event is scheduled for Tuesday, July 1, from 4:00 pm to
8:00 pm at the Fort Worth East Regional Library, 6301 Bridge Street.
The Gas Lease Committee endorses this lease agreement, but again, it is
an individual choice for property owners, and homeowners are not obligated to
sign.
The financial terms are for a $15,000/acre Signing Bonus (property measured
to center of street), with a $5,000 minimum signing bonus, and 25% Cost Free
Royalties for gas production.
Dale Resources will write checks for the signing bonuses at the lease signing.
All owners listed on the property records must be present and must bring a picture I.D. Dale Resources
has calculated acreage measured to the center of
street, but owners are welcome to compare it to their own plot, survey, or
county tax assessment record, to ensure accuracy. This lease agreement
is very much like other agreements signed throughout the area, and the
attorney on our Gas Lease Committee has reviewed it. Owners are certainly
welcome to have their own legal advisor review it before signing.
If owners are not able to make it to the signing event on Tuesday, they can
also send their signed lease to Dale Resources. This will require notarized
signatures of all owners of record on the property. In this case, the signing
bonus check will be mailed in 7-10 days.
Individual arrangements can also be set up with Dale where they will come
to the owners home for signing. A day or two notice to Dale Resources is necessary
so they can set up the account in order to issue a check at the signing.
Further information and contacts will be provided in the lease packages.
ALSO. . .
The gas drilling company is also providing a $5,000 donation for the neighborhood.
Although this not a large amount of money, it does provide an opportunity
to benefit the entire neighborhood. Whether owners have already signed
a lease or not, your input on where to apply these funds is desired.
A list of possible projects and ideas for the funds follow. “Ballots” will be
available at the lease signing event. Feel free to contribute other ideas to any member
of the BV-WHA Board.
- Update Lettering on Neighborhood Monument Signs at the Entrances
- Repair Damaged Sections of Brick Wall Along John T White
- Create Landscaped “Linear Park” Along Undeveloped Land Between Golf Course and John T White
- Enhance Landscaping At Property Next to Main Entry Neighborhood Sign (Create Unofficial Neighborhood Park/Amphileater)
- Add Street Sign Toppers Throughout Neighborhood
- Create Landscaped Beautification Project on North Side of JTW at Randol Mill Road (Old Monument Sign Location)
- Neighborhood Block Party
- Any Other Idea You May Have!