OAR 141-071-0575: Lease Execution

If a lease is awarded, a form of lease shall be sent to the successful bidder, who must execute it within 30 days of receipt, pay the first year’s rental, and pay the balance of (his) bonus bid. Within 120 days, and prior to commencing the operations under the lease, the lessee shall file the corporate surety bond required by the Division, file evidence of required insurance, and file completed agreements for environmental protection and surface management.