I use the following license format that I found on line some years ago. I do not remember the source. For a copy in Word click below and modify the text to fit your situation: make it exclusive or nonexclusive, with or without a signing bonus, etc., as you wish.
This agreement, made this First day of ___________ 20____, between, (LAND OWNERS NAME or NAMES) whose address is (OWNERS ADDRESS), collectively herein referred to as “Licensor,”
(YOUR NAME), whose address is (YOUR ADDRESS) herein referred to as “Licensee.”
Whereas Licensor has property defined as those full or partial sections that are real property owned by the Licensor within Sections ______________ of Township _________ and Range ___________ , Whereas Licensee desires to search for and excavate fossil materials from that property.
NOW, THEREFORE, for and in consideration of the premises, the sum of One ($1.00) Dollar and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
Term of license: This license shall be for a term of _____ (__) years, commencing the date hereof.
Title to specimens: Legal title to any fossil specimens located on the area remains in Licensor until collected by the Licensee through commencement of excavation of same, at which time all rights and title to such fossil specimens shall pass to Licensee.
The fossil specimens collected by Licensee may be removed, managed, prepared, restored, curated, molded, cast, displayed, mounted, marketed, rented, donated and/or sold by Licensee at Licensee’s sole discretion with full ownership rights.
Licensor will take all actions, and execute and deliver all instruments requested by Licensee to convey all rights and title to the collected fossils to Licensee consistent with this agreement.
Fees: If any original fossils collected from the ranch area described above are sold, Licensee will pay to the Licensor ten (10%) percent of the actual selling price such fossils, and will pay such sum to Licensor within thirty (30) days of such sale and receipt of the purchase price by Licensee. Upon payment of such sum all obligations of Licensee to Licensor hereunder with respect to any original fossil sold shall be fulfilled. This provision shall survive the termination of this license.
Lease Bonus: Licensee shall pay Licensor a signing bonus of ($___) __________dollars upon the receipt by Licensee of an executed License Agreement. Such bonus shall be treated as a prepayment and shall be deducted from any future fees owing to Licensor.
Exclusive License: This is an exclusive license and the Licensor will not license or lease the above-described location to anyone else for similar purposes during the term of this license.
Liability: Licensee agrees to hold the Licensor safe and harmless from any and all claims rising from any act or negligence of the Licensee or his agents or contractors in the use and occupancy of the above-described location.
Miscellaneous: The parties are independently contracting with each other and are not partners. This agreement sets forth the entire agreement of the parties and may only be amended by a writing signed by all parties. This agreement shall be binding upon the heirs, successors and assigns of the parties. Any dispute arising hereunder shall be settled by arbitration held in (OWNERS COUNTY) County Circuit Court in accordance with the rules of the American Arbitration Association, and strictly in accordance with the terms of this agreement and the laws of the state of _____________.
I have read, understand, and agree to the foregoing terms and conditions of this agreement:
Signed: ____________________________ Licensee Date ____________
Signed: ____________________________ Licensor Date ____________