Utah Administrative Code
Topic - Natural Resources
Title R652 - Forestry, Fire and State Lands
Rule R652-20 - Mineral Resources
Section R652-20-4000 - Readjustment Rule
Universal Citation: UT Admin Code R 652-20-4000
Current through Bulletin 2024-18, September 15, 2024
1. Any lease, except an oil, gas and hydrocarbon lease, which is subject to a readjustment provision may be readjusted as follows:
(a)
Any term or condition of a lease may be readjusted including the rent, royalty,
minimum rental, or minimum royalty provisions of the lease.
(b) The division shall give notice to the
lessee at least one year prior to readjustment. Failure to give notice prior to
a date a lease is eligible for readjustment shall not waive or prejudice the
right of the division to readjust the lease at a later date.
(c) The readjusted terms shall become
effective on the date specified by the division at the time the readjusted
terms are sent to the lessee.
(d)
Failure of the lessee to accept the terms of any readjustment shall be
considered a violation of the provisions of the lease and shall subject the
lease to forfeiture.
2. In the event of a conflict between this section and the terms of a readjustment provision in a lease, the lease terms shall supersede to the extent of the conflict.
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