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7. Grantee shall have the right to renew this right-of•way for one I1) additional fifteen (15) year period upnn • <br />two 121 conditions: <br />A. Written notice received by the State Land Board at least ninety 190) days prior to the expiration ~f <br />the original term, and <br />B. Tender of an additional payment of Twelve thousand eight hundred thirty-eight and 751100 Dolla~s <br />IS 12,838.75) adjusted based on the change in the Consumer Price Index IUrhanl, ["CPI-U"] or the <br />equivalent, then in effect, between December, 1992 and December, 2007. <br />8. The Grantee may trim trees and shrubbery upon said lands only if such trees and shrubbery materially <br />interfere with or endanger the proper operation and maintenance of said facilities. <br />9. Grantee shall not use, explore or drill for, or establish water or water rights unless the State Land Board <br />in its sole discretion gives written authorization. If the Grantee uses or establishes any water right on the <br />state land, for any use on ar off state land, such right shall become and remain the property of the State <br />Land Board. <br />10. The Grantee shall not sublet or assign, in whole or in part, this right-of•way unless the State Land Board <br />in its sole discretion gives written authorization. Any transfer or assignment, or attempted transfer or <br />assignment, of any of the rights granted, without such consent in writing, shall he absolutely void and, • <br />at the option of the State Land Board sfiall terminate this agreement. However, that consent shall root <br />be required for assignment or subletting to any corporation, partnership or other legal entity in which <br />Peabody Holding Company, Inc. awns or controls directly or indirectly fifty percent l50%1 ar more of tt.e <br />stock or equity ownership. <br />il. The Grantee shall not fence or otherwise obstruct free and open access to and travel upon, over and <br />across said land, without written authorization of the State Land Board. <br />12. The Grantee shall have such rights of ingress and egress as may he necessary for the construction, <br />operation, maintenance, and removal of said facilities, but shall not leave open, or permit to be left open, <br />any fences, bars or gates. All such fences, bars or gates which may he damaged or disturbed in any way <br />shall 6e fully restored 6y the Grantee. <br />13. If the facility for which said lands is granted is to he enlarged, replaced, relocated, or added to in the <br />future, the Grantee shall advise the State Land Board of such change and furnish surveys, plats, and <br />description of the change to the State Land Board. In that event the State Land Board may, in its <br />discretion, require the Grantee to pay additional consideration. <br />14. The right of-way herein granted shall continue or as long as the facilities described above are in place, used <br />and maintained 6y the Grantee. If the facilities are abandoned for twelve (12) consecutive months, this <br />right-of-way or any unused portion thereof shall automatically and without notice terminate. <br /> <br />ROW 2278-22 - 4 <br />