Form WQCC-2 "Assignment of Cash Collateral" - New Mexico

What Is Form WQCC-2?

This is a legal form that was released by the New Mexico Energy, Minerals and Natural Resources Department - a government authority operating within New Mexico. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on January 18, 2017;
  • The latest edition provided by the New Mexico Energy, Minerals and Natural Resources Department;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of Form WQCC-2 by clicking the link below or browse more documents and templates provided by the New Mexico Energy, Minerals and Natural Resources Department.

ADVERTISEMENT
ADVERTISEMENT

Download Form WQCC-2 "Assignment of Cash Collateral" - New Mexico

Download PDF

Fill PDF online

Rate (4.5 / 5) 26 votes
Form ___WQCC-2____
1-18-2017
STATE OF NEW MEXICO
OIL CONSERVATION DIVISION (OCD)
WATER QUALITY CONTROL COMMISSION (WQCC) OCD DISCHARGE PERMIT
ASSIGNMENT OF CASH COLLATERAL
BOND NO.__________________
OCD PERMIT________________
AMOUNT OF BOND_______________
File with the Oil Conservation Division, 1220 South St. Francis Drive, Santa Fe, NM 87505
KNOW ALL MEN BY THESE PRESENTS:
That _____________________________, (an individual – if dba must read – Example: John Doe dba
ABC Services) (a general partnership) (a corporation), (limited liability company) (limited partnership)
organized in the State of _______________________, and authorized to do business in the State of New
Mexico, as (“OPERATOR”),
has deposited with _____________________________________________(name of
federally insured state or national bank or savings association) of__________________________________________,
____________________________________(address) (“FINANCIAL INSTITUTION”), the sum of
dollars ($__________) in Certificate of Deposit or Savings Account No.
_________________________________
________________________________(“FUND”).
To comply with NMSA 1978, Sections 74-6-1 et seq., as amended, and all applicable rules under the Water
Quality Act, including, but not limited to 20.6.2.3107.A(11) NMAC, 20.6.2.5006 NMAC, 20.6.2.5006 NMAC,
20.6.2.5302.F NMAC, and 20.6.2.5431 NMAC, OPERATOR hereby assigns all right, title and interest in the FUND,
except as otherwise provided, to the Oil Conservation Division of the Energy, Minerals and Natural Resources
Department (or successor agency) of the State of New Mexico (“DIVISION”).
OPERATOR and FINANCIAL INSTITUTION agree that as to the FUND:
a. The DIVISION acquires by this assignment the entire beneficial interest in the FUND with the right to order
the FINANCIAL INSTITUTION in writing to distribute the FUND to persons determined by the DIVISION
to be entitled thereto, including the DIVISION itself, in amounts determined by the DIVISION, without
further consent by the OPERATOR. FINANCIAL INSTITUTION hereby acknowledges that the DIVISION
is FINANCIAL INSTITUTION’s customer with respect to the FUND.
b. OPERATOR retains no legal or beneficial interest in the FUND except the right to interest, if any, thereon,
and to return of the FUND upon written order of the DIVISION following final disposition, or plugging and
abandonment
and surface restoration
in accordance with all Water Quality Control Commission rules and/or
orders of the DIVISION, of the well.
c. OPERATOR agrees to take all measures necessary, as required by the DIVISION, pursuant to 20.6.2 NMAC,
as such rules may now exist or may hereafter be amended, to prevent contamination of groundwater having
10,000 milligrams per liter (mg/l) or less concentration of total dissolved solids, including, but not limited to,
surface and groundwater restoration, if applicable, and post-operational monitoring; the FUND may be used
by the DIVISION if OPERATOR fails to perform any of the obligations set forth herein.
d. FINANCIAL INSTITUTION agrees that the FUND may not be assigned, transferred, pledged or distributed
except upon written order of the DIVISION or of a court order entered in a proceeding in which the
DIVISION is a party. FINANCIAL INSTITUTION waives all statutory or common law liens or rights of set-
off or recoupment against the FUND by reason of indebtedness or obligation of OPERATOR to FINANCIAL
INSTITUTION now existing or hereafter incurred.
e. OPERATOR agrees that FINANCIAL INSTITUTION may deduct, solely from interest due OPERATOR,
any costs or attorney fees incurred by FINANCIAL INSTITUTION arising from OPERATOR’S business.
FINANCIAL INSTITUTION agrees that no such costs or fees shall be deducted from the principal of the
FUND prior to final release thereof to OPERATOR by the DIVISION.
This agreement shall be governed by the laws of the State of New Mexico.
______________________________
__________________________________
Operator
Financial Institution
By:___________________________
By:_______________________________
(Signature of Operator)
(Signature of Authorized Officer)
______________________________
__________________________________
Title
Title
Form ___WQCC-2____
1-18-2017
STATE OF NEW MEXICO
OIL CONSERVATION DIVISION (OCD)
WATER QUALITY CONTROL COMMISSION (WQCC) OCD DISCHARGE PERMIT
ASSIGNMENT OF CASH COLLATERAL
BOND NO.__________________
OCD PERMIT________________
AMOUNT OF BOND_______________
File with the Oil Conservation Division, 1220 South St. Francis Drive, Santa Fe, NM 87505
KNOW ALL MEN BY THESE PRESENTS:
That _____________________________, (an individual – if dba must read – Example: John Doe dba
ABC Services) (a general partnership) (a corporation), (limited liability company) (limited partnership)
organized in the State of _______________________, and authorized to do business in the State of New
Mexico, as (“OPERATOR”),
has deposited with _____________________________________________(name of
federally insured state or national bank or savings association) of__________________________________________,
____________________________________(address) (“FINANCIAL INSTITUTION”), the sum of
dollars ($__________) in Certificate of Deposit or Savings Account No.
_________________________________
________________________________(“FUND”).
To comply with NMSA 1978, Sections 74-6-1 et seq., as amended, and all applicable rules under the Water
Quality Act, including, but not limited to 20.6.2.3107.A(11) NMAC, 20.6.2.5006 NMAC, 20.6.2.5006 NMAC,
20.6.2.5302.F NMAC, and 20.6.2.5431 NMAC, OPERATOR hereby assigns all right, title and interest in the FUND,
except as otherwise provided, to the Oil Conservation Division of the Energy, Minerals and Natural Resources
Department (or successor agency) of the State of New Mexico (“DIVISION”).
OPERATOR and FINANCIAL INSTITUTION agree that as to the FUND:
a. The DIVISION acquires by this assignment the entire beneficial interest in the FUND with the right to order
the FINANCIAL INSTITUTION in writing to distribute the FUND to persons determined by the DIVISION
to be entitled thereto, including the DIVISION itself, in amounts determined by the DIVISION, without
further consent by the OPERATOR. FINANCIAL INSTITUTION hereby acknowledges that the DIVISION
is FINANCIAL INSTITUTION’s customer with respect to the FUND.
b. OPERATOR retains no legal or beneficial interest in the FUND except the right to interest, if any, thereon,
and to return of the FUND upon written order of the DIVISION following final disposition, or plugging and
abandonment
and surface restoration
in accordance with all Water Quality Control Commission rules and/or
orders of the DIVISION, of the well.
c. OPERATOR agrees to take all measures necessary, as required by the DIVISION, pursuant to 20.6.2 NMAC,
as such rules may now exist or may hereafter be amended, to prevent contamination of groundwater having
10,000 milligrams per liter (mg/l) or less concentration of total dissolved solids, including, but not limited to,
surface and groundwater restoration, if applicable, and post-operational monitoring; the FUND may be used
by the DIVISION if OPERATOR fails to perform any of the obligations set forth herein.
d. FINANCIAL INSTITUTION agrees that the FUND may not be assigned, transferred, pledged or distributed
except upon written order of the DIVISION or of a court order entered in a proceeding in which the
DIVISION is a party. FINANCIAL INSTITUTION waives all statutory or common law liens or rights of set-
off or recoupment against the FUND by reason of indebtedness or obligation of OPERATOR to FINANCIAL
INSTITUTION now existing or hereafter incurred.
e. OPERATOR agrees that FINANCIAL INSTITUTION may deduct, solely from interest due OPERATOR,
any costs or attorney fees incurred by FINANCIAL INSTITUTION arising from OPERATOR’S business.
FINANCIAL INSTITUTION agrees that no such costs or fees shall be deducted from the principal of the
FUND prior to final release thereof to OPERATOR by the DIVISION.
This agreement shall be governed by the laws of the State of New Mexico.
______________________________
__________________________________
Operator
Financial Institution
By:___________________________
By:_______________________________
(Signature of Operator)
(Signature of Authorized Officer)
______________________________
__________________________________
Title
Title
NOTE: If the officer executing this instrument on behalf of the Financial Institution is not the President, a Vice President or
a branch manager, attach a copy of certified resolution of the Board of Directors evidencing such officer’s authority.
INDIVIDUAL ACKNOWLEDGMENT:
(If individual is dba, must read – Example: John Doe dba ABC Services)
State of New Mexico
County of _______________.
This instrument was acknowledged before me on this ___________day of _________________________20____,
by________________________________________________________________________________________________
( Individual Operator)
_______________________________________
(Notary Public)
SEAL
My Commission Expires:
ACKNOWLEDGMENT FOR PARTNERSHIP, CORPORATION OR LIMITED LIABILITY COMPANY:
State of New Mexico
County of________________
This instrument was acknowledged before me on this ________day of ___________________________20_____,
by________________________________________________________________________________________________
(Name of Person(s) Signing)
as _________________________________________of____________________________________________________,
(
Capacity, e.g., Partner, President, etc.)
(Name of Operator)
a _________________________________________.
(Partnership, Corporation or Limited Liability Company)
_______________________________________________
(Notary Public)
SEAL
My Commission Expires:
FINANCIAL INSTITUTION ACKNOWLEDGMENT:
State of New Mexico
County of________________
This Instrument was acknowledged before me on this _______day of ____________________________20_____,
by________________________________________________________________________________________________
(Name of Officer)
as _______________________________________of ______________________________________________________.
(Title)
(Name of Financial Institution)
_______________________________________
(Notary Public)
SEAL
My Commission Expires:
__________________________
Page of 2