Section 20.03.05.030 - RENTAL AND ROYALTY AND LATE PAYMENTS01.Minimum Annual Rental. The minimum annual rental is five hundred dollars ($500).02.Royalty Schedule. A royalty schedule for each commodity leased must be attached and made a part of the mineral lease.03.Late Payments. Rental or royalty not paid by the due date is considered late and will result in the following monthly charges:a. A late charge of twenty-five dollars ($25) or one percent (1%) of the unpaid principal obligation, whichever is greater; andb. An interest charge of one percent (1%) on the unpaid principal obligation.04.Late Charge Accrual. The Department will send monthly statements with the outstanding balance that will remain on the account and will continue to accrue late charges and interest each month, or any portion of a month, until the balance is paid in full. All payments will be applied first to accrued interest and late charges, and then to principal.Idaho Admin. Code r. 20.03.05.030