O-1945-315 - Laserfiche WebLink

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Ii i I' ,I 'I I I I: i I I r I' provided tbat in 11ell of any eurety bond or bonds required to be contracts with or waivers from the owners authGriling operations' for the development and production of oil or gas. It is specifice~ly applioant in fee or covering which he has leases from or drilling total area of the drllling block and the total area owned by the reduced by an amount in propoztion to the difference between the oil and gas in accordance with the provisions of this ordinance. This bond shall be in the sum of ~wenty ~b.ousa.nd Dollars ct20,OOO.IDO); . i provided, however, that thesum of the bond shall be automatically of liability thereunder leases, drillingcontraots, waiver or other form of contraot under which the applloant or his assigns is or are authorized to operate the premises of said owner for the de- velopment and production of oil and gas, and shall be conditioned upon the sett)ment or paJment by the applicant or his assigns for from fire or from oil, gss or water caused by or originating from the operations oonneoted with suoh well. Suoh bond shall be in the I; sum of Twenty-Five Thousand >>ollars ($25,000.00); proTided, however, I !' that if within thirty (30) days aft er t he drilling and completi on I: r of said well no olaims have been presented against the applioant or' :: his asoigns under tbe terms and conditions of sl1ch bon~. then the : sum of same shall be antomatioally reduced to Five Thousand Doll81'~ I: ($6000.00). r La Porte, Texas, for the benefit of all persons, firms or corporations owning lots, blocks o~ tracks of land in said drilling blook who , have not executed at the time of the fillng of such bond or who shall not execute during the term of said bond and prior to t~e accrual The other bond above provided for shall run to the Cit~70f suffered by ~ persoD or oorporation as to property in the City I, I ; machinery, derri cks and bllildinga erect ed or used in the i rilllng I' or operation of laid well whenever the well shell be abandoned or t,he ;, operat ion thereof di800n tinua4; 8J d that the appli08l1 t or his assign.s r will p~ any and all damages recov~rable at law against him or them -5- e e .'. . / "--_/ """" . e. ''-_/ ..-.. .' ." 4P' '--- . '../