A grants B a 5-year, paid-up lease dated February 24, 1995, covering an area of 40 acres. The effective date is March 11, 1996. The lease was recorded June 20, 1996. B paid $60 per acre.
1 - what is the primary term? From XXX to XXXX
2 - when the first rental is due?
3 - what bonus was paid?