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' • Township 6 North, Range 88 F7est of the 6th P.M.: Section 12: E'~561; Section 13: N~,NE;, `.rEi.NW; Route County, Colorado. Togethez with the exclusive right to explore for, .mine, remove, market, own, or otherviee use gravel from the Property without claim or liability fox damage to the Property. 2. Rent. Peabody agrees to pay Cozzens as rent and royalty the sum of forty cents ($0.40) for each ton of two tliousaad pounds of gravel actually extracted and removed from the Property and used for purposes other than the' - construction and maintenance of a haulage road upon the . Property. The parties agree that,. in accordance with paragraph 10(d) of the Option Agreement, Peabody may extract and utilize free of charge so much gravel as it may require to construct sad maintain a coal haulage road upon the Property. In the event Peabody extracts sad removes no gravel from the Property during any calendar year, Peabody agrees to pay Cozzens the cum of ten dollars-($10.00) as rent:for such year. All ouch rentals and royalties shall be prospectively - escalated or de-escalated, ea the ease may be, on the fifth anniversary of this Agreement, and evezy five (5) yeaza there- after during the term hereof, by the amount of Che increase or decrease during the previous five (5) year period in . the Industrial Conmzoditiea Index of the Producer Price .• Indexes published by the Sureah of Labor Statistics. 3. Accounts. Peabody shall furnish Cozzens each month with a complete report reflecting all gravel extracted and removed from the Property and all gravel used for haul road construction or maintenance on the Property. On or before the twenty-fifth day of the following month, Peabody -' shall pay Cozzens for the gravel removed from the Property during the preceding month. Peabody shall maintain true and -y- .;, `;:::.` - ~M:. ~T~.