43 CFR § 3109.1-5 - Compensatory royalty agreement or lease.

(a) The lease or compensatory royalty agreement shall be on a form approved by the Director.

(b) The royalty to be charged shall be fixed by the Bureau of Land Management in accordance with the provisions of § 3103.3 of this title, but shall not be less than 12 1/2 percent.

(c) The term of the lease shall be for a period of not more than 20 years.