- (a) A borrower may grant easements or rights of way by obtaining the written permission of the board and paying the fee required in §175.17, relating Fees and Deposits, of this chapter.
(b) If the borrower wishes to execute mineral leases covering the land being purchased with a loan from the board, the following conditions must be met:
- (1) No oil and gas lease will be approved unless the board's standard form is used. Copies of this form will be furnished upon request.
- (2) The lease must be approved by the chairman, executive secretary, or assistant executive secretary of the board.
- (3) The applicable requirements of §175.14, relating to Mineral Leases, of this chapter, must be satisfied.
Source Note:The provisions of this §175.59 adopted to be effective January 8, 2002, 27 TexReg 286.