Listing ID : 599393
Posted on September 22, 2023 202
Original Indian Meadows, LLC
previously known as
Bottle Rock Herbal Medicine, LLC
13095 Bottle Rock Road
Cobb Mountain, CA 95426
Attn: Charleen or Joleen
Non-Binding Property Lease Term Sheet
September 14th, 2023
Original Indian Meadows, LLC (OIM) property sits on a total of 61.8 acres of land, with cannabis cultivation available on three – one-acre parcels (distributed as 2 acres and 1 acre). The total cultivation area is 230,000 ft2 and is currently set up at 118,500 ft2, with approval for 130,000 ft2 of canopy space on the property. The property boasts: a 5.5-gallon per minute solar well, grandfathered-seasonal access to pump water from Kelsey creek (6.4 acre-ft per year), swimming pool, enclosed hut (divided into two units for sleeping quarters), 1 barn, 14x bungalows (additional summer housing), restroom/shower rooms, freshwater pond (with 10 acre feet of water when full), and local approval for twelve 40’ portable containers (for additional drying space). The property is nearly turn-key with planter boxes, soil, water storage, irrigation, drip lines, steel framed hoop houses, shade cloths, etc.
Lease-to-own cultivation set-up (not the property):
Steel framed hoop houses, cultivation/planter boxes soil (filled mostly with 707 soil), shade cloths, greenhouse plastic, and blackout tarps. Erected and ready for use. Estimated value of $1.3 M.
Property lease comes with the additional use of the following (not included in lease-to-own):
Fourteen water storage tanks, Irrigation system, drip lines, staked into the ground planter boxes, 3 large humidifiers, and fans.
TERM & COST:
OIM is seeking a cannabis cultivation group to lease the property for a 7-year term. The lease price will be $35,000 per month plus $150k per year for the lease-to-own of the cultivation set-up as detailed above. The lease-to-own of the cultivation set-up is exclusively for the items detailed in section A. above, and NOT the property. The lease structure is intended to be beneficial to lessee’s by keeping initial costs low, while offering a large scale and nearly turnkey cultivation operation.
● 3-months security deposit plus 1st month rent due upon signing.
● $150,000 for lease-to-own of cultivation infrastructure (paid annually for seven (7) years). After the 7th year, lessee will own the items listed in section A.
● $1.03 per square foot of planted cultivation space placed in escrow for cultivation tax (refundable or partially refundable if any changes to local tax code decreases the amounts owed).
● Lessee will be given ½ priced rent until State Licensing is secured.
● The lease will be for a 7-year term, with a renewable option for an additional 10-years.
● Lease will include an early termination clause to exit the lease after 2-years, for a one-time fee of $450k.
● Lessee must have a personal guarantor.
● Lessee must have a janitorial service to clean the buildings at a minimum of two times per month.
● Lessee must hold general liability and property insurance with a minimum of $3M of coverage on the property. Lessor must be included as an additional insured on the policy.
● Lease terms will be triple net. All upgrades, maintenance, and upkeep of the property will be the responsibility of Lessee.
● Lessee can only sublease cultivation parcels to companies they control and/or operate and will be held responsible for the property.
● Lessee must maintain local authorization and state cannabis licenses to legally cultivate cannabis on the property.
● Lessee will not at any time cultivate cannabis without a license.
● Any updates and/or modifications to structures on the property or additions to the property must be pre-approved by Lessor prior to development. Lessor will not disallow or not permit activities necessary to Lessee’s operation without substantial cause or reason (legal or otherwise).
● Lessor will be maintaining a house, equipment barn, cafeteria and pump house on the property and will have full access to that area of the property (away from the cultivation area).
● Lessee will not host any public events or parties at the property.
● No fishing will be allowed in the pond.
– Archaeological survey
– Biological survey
– Civil engineering stamp/approval on bridge allowing 75,000 lbs load
– Survey Map
– Local authorization
This is a legally non-binding term sheet. Nothing in this term sheet establishes any type of relationship or guarantee.
Original Indian Meadows, LLC
__________________ ___________________ ___________________
Joleen Wignall, Charleen Ewing
Thank you for your time and consideration. We look forward to discussing this exciting opportunity with you further.
Listings You May Also Like
13095 Bottle Rock Road, Cobb, CA, USA
Original Indian Meadows, LLC previously known as Bottle Rock Herbal Medicine, LLC 13095 Bottle Rock Road Cobb Mountain, CA 95426 (707)
18153 E 1700 Rd, Eldorado, OK, USA
Age and health bring this opportunity to purchase or lease this grow located in southwest Oklahoma with nearly 300 plants ready to harvest in next 60