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... <br /> <br />ten (10) years thereafter with an option for an additional <br />• five (5) years as provided in greater detail hereinafter. <br />5. Elam shall have the privilege of access to the <br />leased premises prior to the effective date of the lease term <br />for the purpose of performing any preliminary work necessary <br />to perfect the applications for permits referred to above, <br />6. Elam shall have the right to install machinery, <br />equipment, personal property, telephone lines, electric lines <br />and water lines in and on the leased premises. and shall have <br />the right to remove such property from the premises at the end <br />of the lease term. Elam shall save Chambers harmless from all <br />taxes which may be assessed or levied against the property <br />installed by Elam or against any stockpiled materials. Chambers <br />• shall remain responsible for the payment of ad valorem real <br />property taxes before the same become delinquent. <br />7. As consideration for this Lease Agreement, and each <br />and every covenant of Chambers herein contained, Elam agrees to <br />make payment to Chambers as follows: <br />A. Elam shall pay Chambers a royalty of <br />25~ per ton for gravel mined. No royalty <br />for mined gravel shall be payable to Chambers <br />until the material leaves the leased site. <br />B. The said royalty to be paid per ton <br />shall be subject to increase or decrease <br />annually on each anniversary date of the <br />effective date of the lease term. The <br />increase or decrease shall be exactly in <br />proportion to the increase or decrease in <br />the Consumer Price Index for Urban Wage <br />Earners and Clerical Workers, "All Items" <br />category, as prepared and published by <br />the Department of Labor, United States <br />of America. <br />C. For purposes of computing the increase <br />or decrease as set forth in the next pre- <br />ceding subparagraph, the base shall be <br />considered to be the index published for <br />the month of March, 1979. The index to <br />which the base is to be compared shall be <br />that index published as stated above for --- - - <br />the month prior to each anniversary date. <br />Any such increase or decrease determined <br />in accordance herewith shall remain <br />constant until redetermined at the next <br />anniversary date. <br />-3- <br /> <br />