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LB 568 Landowner Leases

LB 568 Landowner Leases. Wind Power 2009 Kearney Holiday Inn Hotel November 9 & 10, 2009. LB 568 – Nebraska Requirements for Wind Agreements. Introduced January 21, 2009 by Senators Dubas, Haar & Mello Became law August 30, 2009 Purpose

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LB 568 Landowner Leases

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  1. LB 568 Landowner Leases Wind Power 2009 Kearney Holiday Inn Hotel November 9 & 10, 2009

  2. LB 568 – Nebraska Requirements for Wind Agreements • Introduced January 21, 2009 by Senators Dubas, Haar & Mello • Became law August 30, 2009 • Purpose • Protect landowners by providing time limitations for wind agreements and development. Requires description of improvements developer intends to make and requires that a written document be filed with register of deeds • Protect landowners from tying up their land in untenable agreements with developers • Applies to all parties entering wind agreements

  3. LB 568 requirements: • Wind agreements* run with the land – if the land is sold, the agreement goes with the land • Initial term of wind agreement cannot exceed 40 years • Agreement terminates if development of wind energy conversion system has not been commenced within 10 years • Period can be extended by mutual agreement of parties * Wind agreement means a right whether stated in the form of a deed, restriction, wind easement, wind option, or lease or lease option securing land for the study or production of wind-generated energy for the purpose of allowing another party to study the potential for, or to develop, a wind energy conversion system.

  4. LB 568 requirements: • No interest in any resource located on the land and associated with production or potential production of wind-generated energy, can be severed from the surface estate • Requires wind agreement to comply with Neb. Rev. Stat. Section 66-911.01, which provides: • Instrument creating land right or option to secure the right must be created in writing

  5. LB 568 requirements: • Instrument must be filed and indexed in the office of the register of deeds for the county in which the real property is located • Instrument requires the following information • Name of parties • Legal description of real property involved • Nature of the interest created • Consideration paid for the transfer

  6. LB 568 requirements: • Description of improvements developer intends to make on the real property, including, but not limited to: Roads, transmission lines; substations, wind turbines, and meteorological towers • Description of any decommissioning security** or local requirements related to decommissioning • Terms and conditions, if any, under which the interest may be revised or terminate ** Decommissioning security means a security instrument that is posted or given prior to construction by the wind developer to ensure sufficient funding is available for removal of a wind energy conversion system and reclamation at the end of the useful life of such a system.

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