Common Contracts
2 similar Surety Bond Agreement contracts
Surety Bond AgreementSurety Bond Agreement • April 9th, 2021
This agreement describes the mutually agreed upon instructions of the below signed parties to the Surety Company, regarding the control, redemption, and release of the Surety Company's above-described surety, which is being used as principal to guarantee the availability for proper plugging and abandonment of the well(s) and proper well site(s) restoration. It is the intention of the parties that the Surety be utilized as principal to guarantee that the full principal amount will be available to the State of Utah, Division of Oil, Gas, and Mining (“Division”) for proper plugging and abandonment of the well(s) and proper well site(s) restoration. Upon demand and in the event the Operator of the well site(s) is unable or unwilling to complete proper plugging and abandonment of the well(s) and proper well site(s) restoration in compliance
Surety Bond AgreementSurety Bond Agreement • July 31st, 2006
This agreement describes the mutually agreed upon instructions of the below signed parties to the Surety Company, regarding the control, redemption, and release of the Surety Company's above-described surety, which is being used as principal to guarantee the availability for proper plugging and abandonment of the well(s) and proper well site(s) restoration. It is the intention of the parties that the Surety be utilized as principal to guarantee that the full principal amount will be available to the State of Utah, Division of Oil, Gas, and Mining (“Division”) for proper plugging and abandonment of the well(s) and proper well site(s) restoration. Upon demand and in the event the Operator of the well site(s) is unable or unwilling to complete proper plugging and abandonment of the well(s) and proper well site(s) restoration in compliance
