Marana Unified District Awards Facilities Contract to Renew Development Holdco Llc (June 2022)

$10,000 signing bonus plus $15,000, $20,000, and $25,000 in option payments; Purchase Price $133,333 per acre (approximately $2,024,000 total)

FACILITIES

Initial Option Term of 36 months from Effective Date, with automatic brief extension after Seller’s Expiration Notice; Memorandum of Option reflects 36‑month term

Option Term is initially 36 months from the Effective Date, with an automatic extension of five business days after Purchaser’s receipt of Seller’s Expiration Notice if the option has not been exercised or terminated. Purchaser may terminate at any time within the Option Term; if voter approval to sell the property cannot be obtained and no acceptable statutory exception exists, Seller will return half of the Option Consideration and the agreement terminates. No automatic renewal beyond the defined Option Term is provided.

Option Agreement