A. All state geothermal leases shall be granted for a maximum primary term of ten years and so long thereafter as geothermal operations are being conducted or geothermal resources are being produced or utilized in commercial quantities.
B. Where a state geothermal lease provides for delay rentals, the annual rental shall be for not less than one dollar per acre or one-half the cash bonus, whichever is greater.
C. Royalties on production obtained from a state geothermal lease shall be not less than the following:
(1) A royalty of not less than ten percent of the price received for all geothermal resources produced and saved or utilized.
(2) A royalty of not less than five percent of the value of any byproduct produced and saved or utilized.
D. The term rental or royalty obtained by the state from a geothermal lease shall not affect or limit the compensation negotiated by the owners of adjoining or nearby property which may be affected or exploited by the lessee.