At the discretion of and upon prior written approval of the department, a lessee may surrender a portion of the lands covered by the lease at any time upon payment to the department of all amounts then due as to the lands surrendered, but no refund of any part of the cash consideration or rental paid shall be made to the lessee upon such surrender. The lessee may surrender all of the lands covered by the lease at any time upon payment to the department of all amounts then due as to the lands surrendered, but no refund of any part of the cash consideration or rental paid shall be made to the lessee upon such surrender.

Terms Used In Arizona Laws 27-675

  • Department: means the state land department. See Arizona Laws 27-651
  • Lease: means a geothermal resources development lease issued for state lands pursuant to the provisions of this article. See Arizona Laws 27-651
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lessee: means the holder of a lease or any assignee of an original lease or part thereof. See Arizona Laws 27-651
  Previous section
Next section  
 Article 4 Contents