Improvement Damage Bond For Geophysical Permits Bond Form

NEW MEXICO STATE LAND OFFICE – Oil, Gas, & Minerals Division

IMPROVEMENT DAMAGE BOND FOR GEOPHYSICAL PERMITS

BOND

BOND NO._____________________

(For use of Surety Company)

BOND NO._____________________

(For use of Land Office)

KNOW ALL MEN BY THESE PRESENTS

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 19.2.17 NMAC, as amended, in the sum of Twenty-Five Thousand ($25,000) 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 geophysical permit with the State of New

Mexico; and

WHEREAS, said permit was entered into by the said principal, subject to the requirements of the provisions of

19.2.17 NMAC as amended; and

WHEREAS, all or part of the lands embraced in said geophysical permit 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 geophysical permit.

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

BY_____________________________________________

By _____________________________________________

Signature

Attorney-in-Fact Signature

Title___________________________________

(Note: Corporate surety affix corporate seal here.)

(Note: Principal, if corporation, affix

corporate seal here.)

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Improvement Damage Bond For Geophysical Permits Bond Form - 2009

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