Why no mention of the Smith-Goshen deal from last week?

I know they just signed leases, but everyone on this board and landowners I'm sure would appreciate the information.  I've been told the numbers and that it was a great lease, just trying to figure out why it is so 'hush-hush'?

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Replies to This Discussion

Permalink Reply by Finnbear on March 7, 2013 at 3:38pm

120 business days, so 24 weeks plus holidays.

Permalink Reply by DESJR on March 7, 2013 at 6:23pm

from what date did\does the 120  "business" days begin? Is it the day the landownder signed? Did the need for additional  corrective lease documents bump the initial date back to the date of signing the additional papers? Or does the initial date of signing begin the countdown?

I would assume that the "holidays" are all Federally observed holidays but just for accuracy, what holidays are valid in this count? Thanksgiving Day (1) Xmas Day (2) New Years Day (3) Presidents Day (4) MLK (5) Vetrans Day (6) Not sure if that one was before or after the signing.

Or is it only the holidays that the real world gets to take off.

 

Permalink Reply by BrianH on March 7, 2013 at 6:57pm
calculate the number of working days and holidays

www.workingdays.us

Permalink Reply by DESJR on March 7, 2013 at 7:10pm

I did that. But the question remains from which date does the countdown begin. For instance, if I signed at the initial signing of 11-6 did the countdown start on that date. Or if additional paper work was needed after the initial signing, did the date stay with the initial signing OR did the date jump back to the date of the new paperwork?

That could change the date by several weeks.

Permalink Reply by Robert on March 7, 2013 at 7:32pm

I was told Rice has a 30 day extension in the contract. So 120 + 30 is 150 days that would make the deadline first week of June if you signed up in the first week.

Permalink Reply by DESJR on March 7, 2013 at 7:45pm

30 day extension? when\why did that happen I wonder? Not the end of the world, but I sure would have liked to have been told about it prior to now.

I guess the 30 day extension essentially answered the "from when" question since that was about the time frame of the new paper work that was needed by everyone,

Thanks everyone, back to the shadows.

 

Permalink Reply by time will tell on March 7, 2013 at 9:09pm

Des , why don't you call them yourself ?   Are you signed with Rice ?

Permalink Reply by OUBobcat on March 7, 2013 at 10:50pm

I believe it is 120 business days from the time the lease is recorded in the Auditors office not at the point of signing.  A lease does not officially start until it is recorded.

Permalink Reply by Finnbear on March 7, 2013 at 11:48pm

Anyone ever think to just call Rice tomorrow and ask them when the 120 days starts? The have an office in St. Clairsville.

Better yet, get your lease paperwork out and READ what you signed.

Permalink Reply by Belmontlandowner on March 8, 2013 at 9:52am

We were told by the St C office that the initial signing date is the date of the lease. The recording at the court house is done so that we can't sign with someone else in the interim as the law states that whomever records first has the leasing rights. The Memorandum simply puts everyone 'on notice' that the property has already been leased.

Permalink Reply by DESJR on March 8, 2013 at 4:22pm

Suzanne Perks is absolutely correct. I called Rice today and they confirmed it is from the date of initial signing. They also stated that monies will start being released begining the end of April barring any corrective actions needed on ones parcels.

Good luck everyone.

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