UNDERGROUND NOR DISCHARGE, RELEASE OR OTHERWISE CAUSE THE TIMBERLANDS
OR ANY PORTION THEREOF TO BE AFFECTED BY HAZARDOUS WASTES OR HAZARDOUS
SUBSTANCES.
BUYER SHALL USE NORMAL AND CUSTOMARY CARE WHILE CONDUCTING ITS
HARVESTING OPERATIONS SO AS NOT TO MATERIALLY DAMAGE THE TIMBERLANDS.
BUYER
ACKNOWLEDGES THAT A HIGHER DEGREE OF CARE IS REQUIRED WHEN THE SITE IS
ABNORMALLY WET AND THAT SUCH CIRCUMSTANCES MAY REQUIRE BUYER TO HALT ALL
HARVESTING ACTIVITIES.
SELLER RESERVES THE RIGHT TO SUSPEND BUYER'S HARVESTING
OPERATIONS WHEN SELLER DEEMS SITE DAMAGE WILL RESULT FROM CONTINUED OPERATIONS;
PROVIDED, HOWEVER, THAT IN THE EVENT OF SUCH SUSPENSION, BUYER SHALL BE ENTITLED
TO AN EXTENSION OF THE TIME ALLOTTED FOR ITS HARVESTING OPERATIONS EQUAL TO THE
NUMBER OF DAYS THAT THE SUSPENSION
CONTINUES.
SELLER ALSO RESERVES THE RIGHT TO SUSPEND BUYER'S HARVESTING
OPERATIONS ON AN ACTUAL DESIGNATED TRACT WHEN SELLER DETERMINES, IN THE EXERCISE
OF ITS REASONABLE DISCRETION, THAT BUYER IS NOT CONDUCTING HARVESTING OPERATIONS
ON THE ACTUAL DESIGNATED TRACT IN ACCORDANCE WITH THE RELEVANT HARVESTING PLAN.
IN THE EVENT BUYER CONDUCTS HARVESTING OPERATIONS IN VIOLATION OF THE RELEVANT
HARVESTING PLAN OR OUTSIDE THE SCOPE OF THE RELEVANT HARVESTING PLAN, THEN
SELLER SHALL BE ENTITLED TO PURSUE ALL REMEDIES AVAILABLE AT LAW FOR TIMBER
TRESPASS.
5.
PRICES AND PAYMENT.
5.1
PRICES.
BUYER SHALL PAY SELLER FOR ALL TIMBER PURCHASED BY BUYER
IN AN AMOUNT EQUAL TO THE THEN CURRENT APPLICABLE PRODUCT PRICE.
5.2
PAYMENT.
PROMPTLY AFTER HARVEST ALL QUALIFYING TIMBER SHALL BE
WEIGHED (OR, WITH RESPECT TO SAWTIMBER, ) AT THE MILL, PIKETON MERCHANDISING
YARD, OR OTHER OUTSIDE LOCATION AS DETERMINED BY BUYER.
BUYER SHALL PROVIDE
SELLER ON A WEEKLY BASIS (WITH PHOTOCOPIES OF WEIGH TICKETS IF REQUESTED BY
SELLER) AND A SETTLEMENT STATEMENT, AND SHALL PAY SELLER EACH WEEK FOR ALL
TIMBER WEIGHED-IN DURING THE PREVIOUS WEEK.
THE EQUIPMENT USED FOR THE WEIGHING
OF TIMBER SHALL BE MAINTAINED BY BUYER IN GOOD AND ACCURATE WORKING ORDER IN
ACCORDANCE WITH ALL APPLICABLE LAWS AND REGULATIONS AND PRUDENT PRACTICE.
SELLER SHALL HAVE THE RIGHT TO CHECK AND AUDIT SAID EQUIPMENT AT ANY TIME UPON
REASONABLE NOTICE TO BUYER.
PAYMENTS MADE AFTER TWENTY (20) DAYS FROM THE DATE
OF DELIVERY SHALL BE CONSIDERED PAST DUE ("PAST DUE").
FOR PAYMENTS THAT ARE
PAST DUE, BUYER SHALL PAY INTEREST AT A RATE PER ANNUM EQUAL TO THE DAILY PRIME
RATE AS REPORTED IN THE WALL STREET JOURNAL PLUS FOUR PERCENT (4%) FOR EACH DAY
THAT THE PAYMENTS ARE PAST DUE.
SUCH INTEREST SHALL BE CALCULATED DAILY ON THE
BASIS OF A YEAR OF 365 DAYS AND THE ACTUAL NUMBER OF DAYS FOR WHICH INTEREST IS
DUE.
IF AT ANY TIME DURING THE TERM THERE ARE ANY PAYMENTS OUTSTANDING TO
SELLER THAT ARE PAST DUE, THEN, IN ADDITION TO ANY OTHER REMEDIES IT MAY HAVE
HEREUNDER, SELLER MAY SUSPEND HARVESTING BY BUYER (OR DELIVERIES BY SELLER TO
THE MILL, IF APPLICABLE) UNTIL SUCH TIME AS ALL PAST DUE PAYMENTS HAVE BEEN PAID
IN FULL.
5.3
PAY OR TAKE.
5.3.1
If for any Calendar