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% / <br />, <br />,~ <br />BY. ,r-°G <br />765 E37 <br />conducted on or under th=_ Leased Premises after tine primary term- <br />Aiming operations shall be considered as being conducted as long <br />as there is no cessation of such operations, without resumption, <br />for longer than 90 days, unless otfierwis=_ agreed in writing_ <br />3. Lessee shall pay to Lessor as production royalty <br />for all coal actually mined and removed from the Leased Premises, <br />eight percent of the value of such coral, calc'.i7.ated as set forth <br />in the Coda of Federal Regulations Por federal coal leases, as <br />such regulations are in effect as of the date of this Lease (the <br />^Federal Coal Regulations"). All such royalty shall be accounted <br />for and paid monthly, on or before the twenty-fifth day of each <br />calendar month, for the coal mined and removed from the Leased <br />Premises during the preceding calendar month. tionthly mine <br />production of coal produced from the Leased Premises shall be <br />determined in accordance with the Federal Coal Regulations_ On <br />or before the twenty-fifth day of each calendar month after the <br />commencement of coal-mining operations hereunder, Lessee shall <br />furnish to Lessor a statement to accompany the royalty check <br />showing the amount and value of coal mined during the preceding <br />month_ Lessee shall also keep books of account of the mining and <br />shipping of said coal for each month, such books to be of the <br />usual character kept by coal operators for such purposes, and <br />which books shall be open at all reasonable times to `e <br />inspection o£ Izssos and its authorized regrasentatives_ <br />4. Lessee shall pay the following to Lessor annually in <br />advance for each acre or fraction thereof covered by this Lease, <br />which, for the purposes of this la_ase, shall be deemed to be <br />3,800 acres: <br />(a) Upon the execution and delivery of this Lease, <br />Lessee shall pay Lessor $2.SO per acre covered by this Lease; <br />(b) On or before April 18 of each year hereafter on <br />which this Lease is still in effect, commencing April 18, 1996, <br />Lessee shall pay Lessor $3.00 per acre covered by this Lease as <br />rent £or that calendar year; provided that i£ the rental rate £oi <br />federal coal leases (the ^Federal Rental Rate^) specified in 43 <br />Code of Federal Regulations Section 3473_3-1 (or any successor <br />federal regulation) is increased or decreased hereafter, the <br />$3.00 per acre sate described herein shall be adjusted, upward or <br />doamwaad, for future payments, so that it remains equal to the <br />Federal Rental Rate; <br />{c) Except as specifically set forth in t,'iis <br />paragraph (c), Lessee sisall not be entitled to credit payments <br />made under tfiis Section 4 or advance royalty payments wade <br />pursuant to the original Lease against the production royalty, <br />payable to Lessor u:,der t,:is Lase; arovided that Lessee shall be <br />entitled to recoup against the production royalty payable as set <br /> <br />-3- <br />