§ 585.505. What are the rent and operating fee requirements for a limited lease?
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/us/cfr/t30/s§ 585.505·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The rent for a limited lease is \$3 per acre per year, unless otherwise established in the Final Sale Notice and/or your lease instrument.
(b)You must pay ONRR the initial 12 months' rent 45 days after you receive the lease copies from BOEM in accordance with the requirements provided in § 585.500(c)(3).
(c)You must pay ONRR as provided in 30 CFR 1218.51 the rent due at the beginning of each subsequent 1-year period on the entire lease area for the duration of your operations period.
(d)BOEM will not charge an operating fee for the authorized sale of power from a limited lease.
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§ 585.505
What are the rent and operating fee requirements for a limited lease?
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