Lee County School District Awards Facilities Contract to Vertex Development Llc (October 2025)

$2,500.00 for initial 18‑month option term, plus $2,500.00 for optional 18‑month extension; then $24,000.00 annually ($2,000.00 per month) with 3% annual increases, plus 40% of gross revenue from each additional sublessee or sublicensee

FACILITIES

Option: initial 18 months from Effective Date with one 18‑month renewal; Lease: 5‑year Initial Term from Commencement Date with five (5) additional 5‑year Renewal Terms (automatic unless terminated with 90 days’ notice)

Option: one discretionary 18‑month extension upon payment of an additional $2,500 before expiration of the initial 18‑month option. Lease: automatic renewal for up to five successive five‑year terms on the same terms unless Vertex provides written notice of termination at least 90 days before the end of the then‑current term. Annual rent increases by 3% on each anniversary of the Commencement Date throughout the Initial Term and any Renewal Terms.

Agreement