What version of 700 is this?

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In the dim recesses of my memory I seem to remember a conversion to detachable box magazines was available for 700s also 10 round extended magazines.
 
The "LH" stamped after "Model 700" stands for Left Hand. Your particular rifle is a BDL. IIRC, aftermarket conversion kits were (and still are) available to make use of a removable magazine. I suspect that was done to the rifle in question.
 
You purchased a 700 LH (left hand) DM (detachable magazine) rifle of which has the black fore end tip found on BDL rifles.

This action DOES NOT have feed rails to feed from an internal magazine box(ADL/BDL) so it will ALWAYS require a magazine to function by design.
 
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