4.002 Letter Agreement
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Unrecorded Letter Agreement. The cross-assignments (“Deep South - Guadalupe Cross-Assignment”) of Lease 1, 2, 4, and 8 dated September 14, 2009, as recorded in Real Property Book 2009, page 151, by and between Deep South E&P and Guadalupe Production, Inc., mentions an unrecorded January 5, 2009, “Letter Agreement” (“Letter Agreement”) between those two entities.
Requirement: Furnish a copy of the Letter Agreement, together with all documentation necessary to determine that the Deep South - Guadalupe Cross-Assignment fulfilled all terms and conditions of the Letter Agreement. Alternatively accept the risk of non-compliance with the terms and conditions of the Letter Agreement.
Copyright 2011 by Edward G, Hawkins. All rights reserved.