30 U.S.C. § 1007 : US Code - Section 1007: Readjustment of lease terms and conditions

Search 30 U.S.C. § 1007 : US Code - Section 1007: Readjustment of lease terms and conditions

(a) Initial readjustment; periodic intervals; notice; objections,
relinquishment, and termination
The Secretary may readjust the terms and conditions, except as
otherwise provided herein, of any geothermal lease issued under
this chapter at not less than ten-year intervals beginning ten
years after the date the geothermal steam is produced, as
determined by the Secretary. Each geothermal lease issued under
this chapter shall provide for such readjustment. The Secretary
shall give notice of any proposed readjustment of terms and
conditions, and, unless the lessee files with the Secretary
objection to the proposed terms or relinquishes the lease within
thirty days after receipt of such notice, the lessee shall
conclusively be deemed to have agreed with such terms and
conditions. If the lessee files objections, and no agreement can be
reached between the Secretary and the lessee within a period of not
less than sixty days, the lease may be terminated by either party.
(b) Rentals and royalties; initial readjustment; periodic
intervals; limitation on increases and on royalties; notice;
objections, relinquishment, and termination
The Secretary may readjust the rentals and royalties of any
geothermal lease issued under this chapter at not less than twenty-
year intervals beginning thirty-five years after the date
geothermal steam is produced, as determined by the Secretary. In
the event of any such readjustment neither the rental nor royalty
may be increased by more than 50 per centum over the rental or
royalty paid during the preceding period. Each geothermal lease
issue (!1) under this chapter shall provide for such readjustment.
The Secretary shall give notice of any proposed readjustment of
rentals and royalties, and, unless the lessee files with the
Secretary objection to the proposed rentals and royalties or
relinquishes the lease within thirty days after receipt of such
notice, the lessee shall conclusively be deemed to have agreed with
such terms and conditions. If the lessee files objections, and no
agreement can be reached between the Secretary and the lessee
within a period of not less than sixty days, the lease may be
terminated by either party.
(c) Surface use, protection, or restoration of lands withdrawn or
acquired for Federal agency; notice; approval of agency
Any readjustment of the terms and conditions as to use,
protection, or restoration of the surface of any lease of lands
withdrawn or acquired in aid of a function of a Federal department
or agency other than the Department of the Interior may be made
only upon notice to, and with the approval of, such department or
agency.