(1) In general, a lease or license for agricultural or grazing lands shall be for a 5 or 10 year period and shall expire February 28, 10 years or less from the beginning date of the lease or license. A cabinsite lease shall be for a period not to exceed 15 years and shall expire February 28, 15 years or less from the beginning date of the lease. In the event the lessee of a cabinsite needs a longer lease period for loan security purposes, the department may grant a cabinsite lease up to a maximum of 25 years. A lease for a use other than agricultural, grazing, cabinsite, or mineral production may be for up to 40 years. Leases for power sites or school sites may be for longer than 25 years.

(2) A land use license may be for a term not to exceed 10 years.