Kairos, Regis sign joint development deal for parcel

Development Costs not to exceed $1,200,000 plus 3% of gross purchase price; Minimum Option Purchase Price $2,800,000; Kairos initial property cost $1,105,298.08

FACILITIES

Effective upon execution; terminates upon earlier of (i) termination/expiration of Participation Option Agreement without closing or (ii) closing of sale to Third Party Builder

Agreement automatically terminates upon termination or expiration of the Participation Option Agreement without a closing, or upon closing of a sale to a third-party builder; no automatic renewals are described. Certain provisions, including those regarding failures to achieve entitlements or sell the parcel, and use of reports, survive termination.

Agreement