N.M. Admin. Code § 19.2.10.18

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.2.10.18 - DAMAGE SURETY

A. The holder of an easement or right of way is required to compensate the state or its lessee, patentee, or purchase contract holder, for the reasonable value of any measurable damage done to improvements or other property, belonging to the person claiming such damages, lawfully upon the trust lands burdened by the easement or right of way. Before an easement or right of way may be issued, the applicant shall file with the commissioner a bond or other surety in an amount determined by the commissioner to be sufficient to cover such damages; provided, however, that the commissioner, in the exercise of the commissioner's discretion, may waive this requirement if the applicant agrees to furnish to the commissioner, upon request, the names and addresses of its construction contractors, and if at least one of the following additional conditions is met:

(1) each lessee, patentee or purchase contract holder of the trust lands burdened by the easement or right of way provides a written waiver of this surety bond requirement; or,

(2) the applicant is a governmental agency which is prohibited by law from posting a surety bond and lawfully assumes sole and complete contractual liability for any damages arising from or in connection with its survey or use of the right of way or easement; or,

(3) the applicant is a governmental agency which is not immune from suit or is otherwise required by law to pay such damages and is thereby its own insurer, and lawfully assumes sole and complete contractual liability for any damages arising from or in connection with its survey or use of the right of way or easement; or,

(4) the commissioner, in the commissioner's discretion, is satisfied that each lessee, patentee or contract holder will be afforded adequate protection other than through the posting of a bond or other surety by the applicant.

B. With the approval of the commissioner, a $25,000.00 bond, or one in any other amount that is determined by the commissioner from time to time to be in the best interests of the trust, or a different surety acceptable to the commissioner, may be used for more than one easement or right of way which the grantee has executed with the commissioner.

N.M. Admin. Code § 19.2.10.18

19.2.10.18 NMAC - Rp, 19.2.10.18 NMAC, 06/30/04, Amended by New Mexico Register, Volume XXX, Issue 11, June 11, 2019, eff. 6/11/2019