Texas Pacific Land Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 7 - Lease Commitments

Note 7 - Lease Commitments

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Text Block]

(7)	Lease Commitments

The Trust is a lessee under an operating lease in connection with its administrative offices located in Dallas, Texas. This lease agreement requires monthly rent payments and expires in

March

2025.

Future minimum lease payments were as follows at

December

31,

2016:

Year ending December 31,	Amount
2017	$	75,224
2018		77,841
2019		80,457
2020		83,074
2021		85,690
Thereafter		296,319
	$	698,605

Rent expense for this lease agreement amounted to

$82,420,

$79,415

and

$70,400

for the years ended

December

31,

2016,

2015

and

2014,

respectively.