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~ ~ <br />f <br /> <br />which shall be based upon the tonnage of coal mined from the above <br />described premises. At npproximately the same time as this lease is <br />executed between the parties, Lessee has taken a coal lease from the <br />owner of the coal lying under said lands, sold owner being U.S. <br />Government. Under that lease a royalty is paid for coal that is mined. <br />The nmount to be paid to Lessors under this lease will be a royalty <br />of 3: of the mine mouthprice for each ton of coal which Ts saleable, <br />and which is mined from the premises above described. It 1s agreed <br />between the parties that the tipple price for royalty Calculation <br />shall be reduced by any severance or revegetation tax which affixes <br />to the production. As additional consideration the Lessee will <br />pay a bonus to Mel J. and Lucy J. Martinez in the amount of Five <br />Hundred and no)100 Dollars (SSDD.DD) on the date first appearing <br />hereinabove. _ <br />. All rental payments to be made by Lessee to Lessors shall be <br />made not later than fifteen days following the end of the calendar <br />month and shall be for all coal which is saleable for heating <br />purposes which 1s mined and sold during said month. In making this <br />rental payment Lessee shall also give Lessors a complete statement <br />of the amount of coal mined and sold during the preceding ngnth. <br />One-half of the rental which is to be paid, shall be deposited to the <br />account of Mel Martinez at the Citizens Bank of Pagosa Springs. The <br />other one-half of the rental payable shall be deposited to the account <br />of Lucy Martinez at the First National Bank of Durango. In the event <br />of the death of either of the Lessors the deceased's respective shore <br />will be paid equally to David and Amos Martinez, their sons, and <br />deposited in accordance with the respective son's instructions. <br />• -2- <br />