Improvement Damage Bond For Oil & Gas Leases Form - Multi-Lease Blanket Bond - 2004
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NEW MEXICO STATE LAND OFFICE – Oil, Gas, & Minerals Division
IMPROVEMENT DAMAGE BOND FOR OIL & GAS LEASES
MULTI-LEASE BLANKET BOND
BOND NO._____________________
(For use of Surety Company)
BOND NO._____________________
KNOW ALL MEN BY THESE PRESENTS:
(For Land Office Use)
That_______________________________________________, (an individual) (a partnership) (a corporation organized in the State
of ____________________, with its principal office in the City of_____________________________ State of _________________,
and authorized to do business in the State of New Mexico), as PRINCIPAL, and ________________________________________,
a 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 Twenty Thousand ($20,000) 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 one or more oil and gas leases with the State of New
Mexico; and
WHEREAS, said leases were 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 leases have been leased for grazing or agricultural purposes or have
been sold, with minerals reserved to 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: Principal, if corporation, affix
(Note: Corporate surety affix corporate seal here.)
corporate seal here.)
[Notary acknowledgements on following page.]
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