District buys TRPA land coverage from State Lands

$324.00

OTHER

Escrow to close within 120 days of escrow opening; Seller retains 180-day option period beginning 2.5 years after TRPA conditional approval to repurchase unused coverage

Seller retains an exclusive option to repurchase any unused coverage at the original per-square-foot price, less Seller’s closing costs, if Buyer fails to commence construction under the TRPA permit within 2.5 years or does not use all coverage; the option term is 180 days following that 2.5-year period, with a 30-day close of escrow for repurchase. Escrow for the original sale may be extended in 60-day increments, up to one year total, upon Buyer deposits equal to 2% of the purchase price or $100, whichever is greater, per extension; these extension payments are non-refundable and not credited toward the purchase price.

Agreement