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<br />f ~ .....~ <br /> lands for a period of ten years from and after date hereof and <br /> . for so much longer as coal is profitably produced from said <br /> premises. <br /> 4. To pay all taxes which may be assesed o= imposed <br /> against said lands during the term of this lease, except that <br /> any increase of taxes which arises as a result of improvements <br /> placed on said property by Lessee and any taxes in connection <br /> with minerals in the ground or~severance taxes for minerals <br /> which are mined, shall be borne exclusively by Lessee. <br /> ' ~ ~ LESSEE COVENANTS AND AGREES: <br /> 1. To pay to Lessors as rental for the use o£ said <br />~~ lands a sum which shall be based upon the tonnage of coal mined <br /> from the above described premises. At approximately the same <br /> time as this lease is executed between the parties, Lessee has <br /> taken a coal Iease~from the owners of the coal lying under said <br /> lands, said owners being Frank Martinez, Benjamin R. Munoz, Genevieve <br />. Munoz and Lessors above. Vnder that lease a variable royalty <br />• mined <br />The amount to be <br />aid to Lessors <br />al th <br />t i <br />i <br />id fo <br /> p <br />. <br />s pa <br />r co <br />a <br />s <br /> under this lease is subject to so.~e variation depending on the <br /> price of coal. As these variations occur, the rental to be <br /> paid to Lessors hereunder, similarly, shall vary. <br />_ Initially, Lessee agrees to pay to Lessors a ' <br /> royalty of $1.30 for each ton of coal which is saleable for <br /> heating purposes and which is mined £rom the premises above <br /> describe3. It is agreed between the parties that coal is' currently <br />i selling at $16.00 per ton at the tipple. For each $1.50 increase <br /> in~the price of coal at the tipple, the royalty payment to Lessors <br />~ shall be decreased by $.OS per ton, until the price of $23.50 <br /> per ton is reached. At that point, the rentals to be paid to <br />i <br />i Lessors would amount to $1.05 per ton and such rental shall <br />.._ <br />never fall below this figure. Rowever, for every 51.00 per <br />~ ton increase in the price o: coal at the tipple past $23.50 <br />. per ton, Lessors shall receive a five and one-half percent increase <br /> -2 <br />