The Restoration of Surface and indemnity by Assignee form, is used for the assignee to agree to restore the surface of the land included within the assigned assets as nearly as possible to its prelease condition when the use and operation on that part of the land is completed.
New Mexico Restoration of Surface and Indemnity by Assignee refers to a legal provision that ensures the restoration of the surface of leased lands, as well as the indemnification of the landowner, in the context of oil, gas, or mineral exploration and extraction activities in New Mexico. This provision is typically included in oil, gas, or mineral lease agreements and serves to protect the interests of landowners and the environment. The Restoration of Surface clause necessitates that the lessee, or assignee, should restore the surface of the land to its original condition once the exploration or extraction activities have been completed. This includes the removal of any equipment, machinery, or structures, as well as the reclamation of the land to its natural state to minimize any potential adverse impacts caused by the drilling or mining operations. Moreover, the indemnity aspect of the provision ensures that the landowner is protected from liability and compensated for any damages that may occur during the exploration or extraction process. The assignee assumes responsibility for all damages arising from their operations and is required to indemnify the landowner accordingly. In New Mexico, there may be specific variations or types of Restoration of Surface and indemnity by Assignee clauses depending on the nature of the resource being extracted. For instance: 1. Oil and gas leases: These pertain to the exploration and extraction of oil and natural gas reserves. The Restoration of Surface clause may include regrading and revegetation of land, restoration of water sources, and mitigation of any potential impacts on wildlife habitats. 2. Mineral leases: These involve the extraction of various minerals, including but not limited to coal, copper, uranium, or other valuable ores. The Restoration of Surface clause may address issues related to land grading, stabilization of mine waste, reclamation of open pits, and the restoration of affected water bodies. 3. Geothermal leases: These focus on the utilization of geothermal energy resources. The Restoration of Surface clause may encompass the rehabilitation of geothermal well sites, proper sealing of abandoned wells, and the protection of other sensitive geological features. In conclusion, the New Mexico Restoration of Surface and Indemnity by Assignee provision ensures that leased lands used for resource exploration and extraction are restored and reclaimed to their original condition, minimizing environmental impacts. The assignee is obligated to indemnify the landowner for any damages and assume responsibility for the restoration process.New Mexico Restoration of Surface and Indemnity by Assignee refers to a legal provision that ensures the restoration of the surface of leased lands, as well as the indemnification of the landowner, in the context of oil, gas, or mineral exploration and extraction activities in New Mexico. This provision is typically included in oil, gas, or mineral lease agreements and serves to protect the interests of landowners and the environment. The Restoration of Surface clause necessitates that the lessee, or assignee, should restore the surface of the land to its original condition once the exploration or extraction activities have been completed. This includes the removal of any equipment, machinery, or structures, as well as the reclamation of the land to its natural state to minimize any potential adverse impacts caused by the drilling or mining operations. Moreover, the indemnity aspect of the provision ensures that the landowner is protected from liability and compensated for any damages that may occur during the exploration or extraction process. The assignee assumes responsibility for all damages arising from their operations and is required to indemnify the landowner accordingly. In New Mexico, there may be specific variations or types of Restoration of Surface and indemnity by Assignee clauses depending on the nature of the resource being extracted. For instance: 1. Oil and gas leases: These pertain to the exploration and extraction of oil and natural gas reserves. The Restoration of Surface clause may include regrading and revegetation of land, restoration of water sources, and mitigation of any potential impacts on wildlife habitats. 2. Mineral leases: These involve the extraction of various minerals, including but not limited to coal, copper, uranium, or other valuable ores. The Restoration of Surface clause may address issues related to land grading, stabilization of mine waste, reclamation of open pits, and the restoration of affected water bodies. 3. Geothermal leases: These focus on the utilization of geothermal energy resources. The Restoration of Surface clause may encompass the rehabilitation of geothermal well sites, proper sealing of abandoned wells, and the protection of other sensitive geological features. In conclusion, the New Mexico Restoration of Surface and Indemnity by Assignee provision ensures that leased lands used for resource exploration and extraction are restored and reclaimed to their original condition, minimizing environmental impacts. The assignee is obligated to indemnify the landowner for any damages and assume responsibility for the restoration process.
