§ 3508.21 What happens if I am the successful bidder?
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Title 43 CFR: Public Lands: Interior › Chapter II: BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR › Part 3500: LEASING OF SOLID MINERALS OTHER THAN COAL AND OIL SHALE › Subpart 3508: Competitive Lease Applications › § 3508.21: § 3508.21 What happens if I am the successful bidder?
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(a) If you are the highest qualified bidder and we determine that your bid meets or exceeds fair market value, we will send you copies of the lease on the form attached to the detailed statement. Within the time we specify you must:
(1) Sign and return the lease form;
(2) Pay the balance of the bonus bid;
(3) Pay the first year's rental;
(4) Pay the publication costs;
(5) Furnish the required lease bond;
(6) If you were not the applicant, pay the cost recovery fee specified in the lease sale notice; and
(7) Pay all processing costs BLM incurs after the date of the sale notice.
(b) See § 3504.12 of this part for payment procedures.
[64 FR 53536, Oct. 1, 1999; 65 FR 11476, Mar. 3, 2000; 70 FR 58877, Oct. 7, 2005]
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