I have occasionally checked the Portage County Recorder's Files online for my property, and found that C H K UTICA L L C has filed a Mortgage on a group of properties in Portage County. What does this mean since I can't view the Mortgage online? The document number is 201318735.
That sounds plausible, I wonder how legally binding it is when the Lease Expires? Lease is a 5 + 5 auto renewable.
That's all news to me. Prior to now, CHK wasn't filing mortgages on properties, but Aubrey McClendon was through Jamestown Resources with EIG. That was all blown up in the press. However, the news that Chesapeake is filing mortgages on properties is a whole new game. Please let us know what you find out.
Deutsche Bank just gave CHK a loan not too long ago, but I had no idea that the loans were being secured with a mortgage. That could have devastating consequences to the landowner. Please keep us all posted.
Thanks Chip, I hope Chesapeake doesn't plan to leave a dirty trail if they should decide to allow the lease to expire.
They did the same thing with all of the Mahoning County leases. The mortgage is with Deutsche Bank Trust.
Thanks Calla, do you have any idea of the terms of the mortgage? My property is very close to Mahoning County.
same thing with my lease in Stark County
There was a post about this a couple of weeks ago or so and someone left a link to actually see all the land parcels affected by this mortage.
The Trumbull County Recorder allows you to read the entire document. Chk Utica LLC and Deutsche Bank both have lots of documents on there, I just haven't found the right one yet.