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(iii) for each and every ton of 2,000 pounds of coal stored, handled, processed or loaded and sold <br />from areas other than from the New Elk Facility an amount equal to of the <br />Gross Sales Price to all purchasers. <br />On or before the 15"' day of each month, Lessee shall pay to Lessor the Rental for the <br />preceding calendar month and furnish to Lessor a complete and correct statement (hereafter <br />"Rental Report") showing for the preceding month the number of tons of coal sold from the New <br />Elk Facility or coal from other sources, stored, handled, processed or loaded and sold, names <br />and address(es) of the coal purchaser(s), quantity of coal sold and the Gross Sales Price from <br />each respective coal purchaser, the amount of Rental required to be paid for such month and <br />such other related information as Lessor requests. Lessee shalt keep and preserve its records <br />pertaining to the removing, storing, handling, processing of coat and/or coal sales informaton, <br />which shall be open to inspection by Lessor at all reasonable times. <br />3. Monthly Minimum Rental. Commencing one year from the date of this <br />Agreement, Lessee shall pay to Lessor, without demand therefore, a recoupable monthly <br />minimum rental of ` er month <br />(hereafter the "Monthly Minimum Rental"). for the Rental for a period of five (5) years. The <br />Monthly Minimum Rental shaft be due and payable monthly on the 15"' day of the calendar month <br />for the previous calendar month and the first Monthly Minimum Rental shaft be due and payable <br />February 15r", 2007 and continuing on the 15r" day of each and every month thereafter during the <br />Term of this Agreement. The Monthly Minimum Rental to be paid on February 15"', 2007 shall <br />be with respect to the month of January, 2007. The Monthly Minimum Rental shall be paid for <br />any month during the Term hereof, beginning January, 2007, when the Rental that becomes due <br />and payable for any month is less than ' . <br />.Commencing the seventh anniversary date of this Agreement, the amount of <br />Monthly Minimum Rental shalt be reduced to ,par <br />year for the remaining term of the Agreement. <br />l <br />