Short answer. Yes. Rule 38, Section 5 provides that the court may grant a preliminary injunction to preserve the parties' rights only upon the filing by the petitioner of a bond in favor of the adverse party. So posting that bond is a condition for the injunction while your petition for relief is pending.
What the law says
The court in which the petition is filed, may grant such preliminary injunction as may be necessary for the preservation of the rights of the parties, upon the filing by the petitioner of a bond in favor of the adverse party, conditioned that if the petition is dismissed or the petitioner fails on the trial of the case upon its merits, he will pay the adverse party all damages and costs that may be awarded to him by reason of the issuance of such injunction or the other proceedings following the petition
Rule 38, Section 5 — Preliminary injunction pending proceedings. Read the full provision →
What the law says
such injunction shall not operate to discharge or extinguish any lien which the adverse party may have acquired upon the property of the petitioner.
Rule 38, Section 5 — Preliminary injunction pending proceedings. Read the full provision →
Yes, the bond is the condition for the injunction
Section 5 ties the injunction to the bond directly: the court in which the petition is filed, may grant such preliminary injunction as may be necessary for the preservation of the rights of the parties, upon the filing by the petitioner of a bond in favor of the adverse party. The word upon makes the bond a condition for the injunction being granted, not an optional extra you can skip.
What the bond is conditioned on paying
The bond is not open-ended; it is conditioned on specific events described in the same sentence. If your petition is dismissed, or you fail on the trial of the case on its merits, you will pay the adverse party all damages and costs that may be awarded because the injunction was issued, or because of the other proceedings that followed your petition. The bond exists to cover the adverse party if your petition ultimately does not prevail.
The injunction still has a limit even once granted
Section 5 also limits what the injunction can accomplish even after it is issued: such injunction shall not operate to discharge or extinguish any lien which the adverse party may have acquired upon the property of the petitioner. So the injunction preserves the parties' rights while your petition is pending, but it does not wipe out a lien the adverse party already holds over your property.
What this means for your petition
Because Section 5 conditions the preliminary injunction on the filing of a bond, you should expect to post one in favor of the adverse party before the court grants the injunction while your petition for relief from judgment is pending. The court still has to find the injunction necessary for preserving the parties' rights, but the bond is a required part of that process.