View all text of Subpart 3511 [§ 3511.10 - § 3511.30]
§ 3511.15 - How long will my lease be in effect?
Commodity | Initial Term | Period of Renewal or
Readjustment | (a) Phosphate | Indeterminate | Subject to readjustment at the end of each 20 year period. | (b) Sodium | 20 years | Can be renewed for 10 years at the end of the initial term and for following 10 year periods. | (c) Potassium | Indeterminate | Subject to readjustment at the end of each 20 year period. | (d) Sulphur | 20 years | Can be renewed for 10 years at the end of the initial term and for following 10 year periods. | (e) Gilsonite | 20 years and for as long thereafter as gilsonite is produced in paying quantities | Subject to readjustment at the end of each 20 year period. | (f) Hardrock Minerals | not to exceed 20 years | Can be renewed for 10 years at the end of the initial term and for following 10 year periods. | (g) Asphalt | 20 years | Can be renewed for 10 years at the end of the initial term and for following 10 year periods. |
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