N.M. Admin. Code § 19.2.2.48 - ADVANCE ROYALTY DURING QUATERNARY TERM
A. In the eleventh year of the lease, the
lessee shall pay, in addition to rent, ten dollars per acre as an advance
royalty.
B. In the twelfth year of
the lease, the lessee shall pay, in addition to rent, twenty dollars per acre
as an advance royalty.
C. In the
thirteenth year of the lease, the lessee shall pay, in addition to rent, thirty
dollars per acre as an advance royalty.
D. In the fourteenth year of the lease, the
lessee shall pay, in addition to rent, forty dollars per acre as an advance
royalty.
E. In the fifteenth year of
the lease, the lessee shall pay, in addition to rent, fifty dollars per acre as
an advance royalty.
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