It is usual in mining leases to reserve both a fixed annual rent (otherwise known as a 'dead rent', 'minimum rent' or 'certain rent') and royalties varying with the amount of minerals worked1. The object of the fixed rent is to ensure that the lessee will work the mine2; but it is sometimes ineffective for that purpose3. Another function of the fixed rent is to ensure a definite minimum income to the lessor in respect of the demise.
If a fixed rent is reserved, it is payable until the expiration of the term even though the mine is not worked
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Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
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