Improvement Damage Bond For Oil & Gas Leases One Lease Bond Form - 2004
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2NEW MEXICO STATE LAND OFFICE – Oil, Gas, & Minerals Division
IMPROVEMENT DAMAGE BOND FOR OIL & GAS LEASES
ONE LEASE BOND --
ONLINE Version
BOND NO._____________________
(For use of Surety Company)
BOND NO._____________________
(For use of Land Office)
KNOW ALL MEN BY THESE PRESENTS
LEASE NO._______________________
That_____________________________________________________,
(an individual) (a partnership) (a corporation organized in the State
of ______________________, with its principal office in the City of ______________________________ State of ______________________, and
as PRINCIPAL, and _______________________________________________, a
authorized to do business in the State of New Mexico),
corporation organized and existing under the laws of the State of ________________________, and authorized to do business in the
State of New Mexico as SURETY, are held firmly bound unto the State of New Mexico, for the use and benefit of the New Mexico
State Land Office and its lessees holding grazing or patent to state lands, with minerals reserved, their grantees, and
successors in interest, pursuant to Section 19-10-26 NMSA 1978, as amended, in the sum of Ten Thousand ($10,000) lawful money
of the United States, for the payment of which well and truly to be made, said PRINCIPAL and SURETY hereby bind
themselves, their successors and assigns, jointly and severally, firmly by these presents.
The conditions of this obligation are such that:
WHEREAS, the above principal has heretofore or may hereafter enter into an oil and gas lease with the State of New
Mexico; and
WHEREAS, said lease was entered into by the said principal, subject to the requirements of the provisions of Section 19-
10-26 NMSA 1978, as amended; and
WHEREAS, all or part of the lands embraced in said oil and gas lease has been leased for grazing or agricultural purposes
or has been sold, with minerals reserved to the State of New Mexico, to various purchasers who hold limited patents from the State of
New Mexico or State purchase contracts; and
WHEREAS, the above principal, individually, or in association with one or more other parties, has commenced or may
commence development or operations upon the land embraced in the aforesaid oil and gas lease.
NOW THEREFORE, if the above bounden principal and surety or either of them or their successors or assigns, or any of
them, upon demand shall make good and sufficient recompense, satisfaction or payment unto the New Mexico State Land Office and
its holders of State grazing or agricultural leases, State purchase contracts, or State patents, with minerals reserved to the State, and
their heirs, executors, administrators, successors and assigns, for all damages to livestock, range, water, crops, or tangible
improvements on such lands as may be suffered by the New Mexico State Land Office and its lessees and purchasers or their
successors in interest, by reason of such development, use or occupancy of such lands by such principal, or for such damages
including attorneys' fees as a court of competent jurisdiction may determine and fix in any action brought on this bond.
THEN THEREFORE, this obligation shall be null and void; otherwise and in default of complete compliance with any and
all of said obligations, the same shall remain in full force and effect.
SIGNED AND SEALED this ______ day of ____________________, 20_______.
_________________________________________________
_________________________________________________
PRINCIPAL
SURETY
_________________________________________________
__________________________________________________
Address
Address
BY_____________________________________________
By _____________________________________________
Signature
Attorney-in-Fact Signature
Title___________________________________
(Note: Corporate surety affix corporate seal here.)
(Note: Principal, if corporation, affix
corporate seal here.)
[Continued on next page.]
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