Listing ID : 848713
Listed On September 8, 2024 193
Listing Updated November 5, 2024
Listing Highlights :
Original Indian Meadows, LLC Previously known as
Bottle Rock Herbal Medicine, LLC
13095 Bottle Rock Road Cobb Mountain, CA 95426 (707) 337-5745
Attn: Charleen or Joleen
Non-Binding Letter of Intent (LOI)
October 22nd, 2024
INTENT
This Letter of Intent (LOI) is to establish the terms and conditions of leasing of the property and sale of the infrastructure and license, for a licensed cannabis cultivation operation, and the allocated land as described herein. This LOI is provided to by Original Indian Meadows, LLC. While this agreement is not binding, it will outline the important terms and conditions of a subsequent binding lease agreement(s). The Parties sign this LOI in good faith as their intent to work towards a binding agreement.
PROPERTY OVERVIEW
Original Indian Meadows, LLC (OIM) property sits on a total of 33.47 acres of land. The total cultivation area is 160,000 ft2 and is currently set up for 72,796 ft2 (could be expanded to 90,000 ft2, which is what the property is permitted for. The property is divided (part for lessee and part for lessor) with a majority allocated for the cultivation operation. 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, 1 barn, 4+ bungalows (summer housing), restroom/shower rooms (shared use), freshwater pond (with 10 acre feet of water when full), and local approval for twelve 40’ portable containers (for additional drying space). The cultivation side is nearly turn-key with 90 planter boxes, soil, water storage, irrigation, drip lines, steel framed hoop houses, shade cloths, etc.
Infrastructure for sale with lease: steel framed hoop houses, staked into the ground planter boxes, cultivation/planter soil (filled mostly with 707 soil), shade cloths, greenhouse plastic, and blackout tarps, water storage tanks, irrigation system, drip lines, and two (2) large humidifiers.
TERM & COST:
OIM is seeking a cannabis cultivation group to lease the allocated property for a 5-year term. The lease price will be $10,00 per month, plus $1M for the existing infrastructure and license. The infrastructure and license payments will be owner carried. Total monthly payment will be
$25,000 per month for five (5) years. After the infrastructure is paid in full, the rent price for the property on the renewal options will be $15,000. The structuring of this offer is intended to be beneficial to lessee’s by keeping initial costs low, while offering a large scale and nearly turnkey cultivation operation.
INITIAL COST:
● $50,000 security deposit due upon signing.
● $100,000 deposit on infrastructure & license.
● $25,000 first month’s rent ($10,000) plus infrastructure payment ($15,000).
Additional Costs:
● $0.53 per square foot of planted cultivation space placed in escrow for cultivation tax, due upon initial planting (price variable depending on county adjustments).
● All costs associated with maintaining the State License.
LEASE SPECIFICATIONS
● Lease will be for a 5-year term, with two (2) renewable 5-year terms.
● Lessee must have a personal guarantor.
● Lessee must hold general liability insurance for $2M of coverage on the property.
● Lease terms will be triple net. All upgrades, maintenance, and upkeep of the property will be the responsibility of Lessee.
● Lessor must be included as an additional insured on all insurance policies.
● Lessee can only sublease cultivation parcel to companies they control and/or operate, and will be held responsible for the property.
● Lessee must maintain local authorization and state cannabis licenses in order to legally cultivate cannabis on the property.
● Lessee will not at any time cultivate cannabis without a license.
● Lessor will be maintaining a house, equipment barn, cafeteria and pump house on the property and will have access to that area of the property (away from the cultivation area).
● Lessor will have the right to visit the leased space given 24 hour notice prior to visit.
● Richard Knoll (or another personnel assigned by Lessor) will be the professional quality control personnel that will submit reports to the County annually. Prior to visit, they will provide Lessee a 24 hour notice.
● Lessee will comply with any and all requirements for annual discharge permitting and compliance. A copy of the report will be provided to Lessor prior to submission to the county.
PROPERTY SPECIFICATION
● 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).
● Lessee will not host any public events or parties at the property.
● No fishing or hunting will be allowed on the property (including the pond).
● No weed poison or other pesticides are permitted on the property, unless permitted by the Department of Cannabis Control.
● Lessee will keep a daily watering log and provide copies every 2 weeks to Lessors.
● All sandbags used on the property will be filled only with sand.
● Lessee and associated workers will only use dedicated restroom facilities on the property and will not relieve themselves anywhere else.
● The walking bridge is for people only, and not for vehicles, nor equipment.
● Cameras & any additional fencing requirements should be installed prior to cultivation.
● Only use camp curtains placed on the curtain rods in the bungalows. No plastic or other material will be allowed to be stamped into the bungalows.
● Lessor will maintain the pump house and will be in charge of quality control of the drinking water on the property.
● Lessor retains the right to water the lawns on the property at their discretion.
● Lessee will hire a pool maintenance company to manage the pool, and Lessor will be permitted to use the pool.
● Lessee must have a janitorial service clean the buildings (at a minimum) two times per month.
AVAILABLE INFORMATION
– Archaeological survey
– Biological survey
– Civil engineering stamp/approval on bridge allowing 75,000 lbs load
– Survey Map
– Local authorization
– Premise diagram
– Property diagram
Property will soon be able to get permitted for: If tenant so desires these uses!
- Cannabis cultivation processing;
- Non-volatile cannabis manufacturing;
- Retail Delivery;
- Retail Storefront;
- Retail Storefront with Onsite Consumption;
- Cannabis Distributor License;
- Microbusiness; and
- Temporary Cannabis Special Events.
Contact:
Charleen and Joleen at 707 337-5745
26.9 Acres Divisible into 12 Acres and 14.9 Acres – Available Together or Separately Explore the potential of this expansive 26.9-acre property,
Attachments
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