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Aoyalties on arty of the leased deposits shall be payable monthly in <br />cash yr delivered in kind at the option of the lessor. It is expressly <br />understood that the Secretary of the Interior mY establish reasonable mini- <br />sr~ values for the puriose of computing royalty oa arty of the leased deposits, <br />. due consideration being; given to the highest price paid for the part or a <br />sis~ority of the produot,ion of like quality products frog Wyoming or elsewhere <br />!a the same general area, the price received by the lessee, posted prices, <br />and other relevant mntt•ers. <br />When paid in value such royalty on production shall be due and <br />payable monthly on the last day of the calendar month following the calendar <br />month in which produced. <br />When royalty is to be taken in kind the lessee will be notified 3 <br />months in advance that delivery of royalty products will be required for a <br />stated period not exceeding 12 months. Royalty products shall be delivered <br />in merchantable condition at the point of shipment without cost to the lessor <br />at such time and in such storage facilities provided by the lessee as may <br />reasonably be required by the lessor, rovided, that the lessee shall not be <br />required to hold the royalty products in storage for more than 60 days beyond <br />the end of the month in which produced, and provided further, that the lessee <br />shall in no manner be responsible or held liable for the loss or destruction <br />of the royalty products in storage from causes over which the lessee has no <br />control. <br />• It is expressly understood that, notwithstanding any other provision <br />hereof, the lessor reserves the right to read3ust the royalties prescribed <br />in this subsection 2(c) as provided for in subsection 3(d) hereof. <br />(d) Minimum 'production. Beginning with the sixth full calendar <br />year of the lease, excerpt when the Secretary has directed or consented to a <br />suspension of operations under section 39 of the Act, to mine the leased <br />deposits during the sai3 year to a royalty valve of $1 per acre or fraction <br />thereof, and thereafter the royalty value shall increase $1 per acre per year <br />each succee3ing year to and including the tenth year to n ro3'alty value of <br />$5 per acre or fraction thereof, and thereafter the royalty value shall be <br />$5 per acre or fraction thereof per year for the remainder of the lease term, <br />or beginning the sixth year, in lieu of ar{y mining to pay minimum royalty of <br />$1 per acre or fraction thereof, and thereafter the minimum royalty shall <br />increase ~1 ver acre near year each bucceeding yE~ to and including the tenth <br />year to s minims royalty of $5 per acre or fraction thereof, and thereafter <br />the minimum royalty sha:11 be $5 per acre or fraction thereof per year for <br />the remainder of the lease term. <br />5 <br /> <br />