All oil and gas leases granted pursuant hereto shall provide for forfeiture and cancellation thereof upon the failure of the lessee to fully discharge the obligations provided therein, after written notice from the state and a reasonable time allowed to the lessee for performance of any undertaking or obligation specified in such notice, concerning which the lessee is in default. Such notice shall not be required in case of the failure of the lessee to pay any delay rental provided for in such lease. The Board of Educational Lands and Funds is granted full power and authority to order and hold hearings on any matter or question involving oil and gas leases, under such rules and regulations as it may adopt; and any lessee, upon application therefor, shall be granted a hearing on any notice or demand of the board before any lease is declared forfeited or canceled by the board. A copy of any order of forfeiture and cancellation made pursuant to this section shall be filed with the register of deeds of the county where the land is situated, but such filing shall not be a condition to the effectiveness of the order, and no further processing of any type shall be necessary to complete the record of such forfeiture and cancellation.