[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR3120.5-2]

[Page 370]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 3120_COMPETITIVE LEASES--Table of Contents
 
                     Subpart 3120_Competitive Leases
 
Sec. 3120.5-2  Payments required.

    (a) Payments shall be made in accordance with Sec. 3103.1-1 of this 
title.
    (b) Each winning bidder shall submit, by the close of official 
business hours, or such other time as may be specified by the authorized 
officer, on the day of the sale for the parcel:
    (1) The minimum bonus bid of $2 per acre or fraction thereof;
    (2) The total amount of the first year's rental; and
    (3) An administrative fee of $75 per parcel.
    (c) The winning bidder shall submit the balance of the bonus bid to 
the proper BLM office within 10 working days after the last day of the 
oral auction.