1997-Oct-8 ptp signs lease drafted by bia for pine view estates development
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BIA's Acting Western Nevada Agency Superintendent Fred Drye approves lease drafted by BIA between allottee Leon Mark Kizer and PTP, Inc., for Lease B-208, amended Oct. 8, 1997, regarding 63 acres of land for a subdivision later named Pine View Estates.The term is for 50 years, starting on the approval date, with an authomatic extension of 49 years at no additional charge. (provision 3, page 2)PTP promised to install to all lots "sewer or septic tank, meeting Federal and State health standards." (provision 4, page 3)PTP promised to pay the BIA $25,000 once the lease was approved, $25,000 on the first anniversary of the lease, $50,000 on the second, third, and fourth anniversary of the lease, and $131.481.31 on the fifth anniversary of the lease. (provision 9, pages 3-4)These amounts total $331,481.31 by the fifth year of PTP's lease.PTP promised to spend $3 million to "improve the leased property" (page 4) and to install "sanitary sewer service, to meet all Federal and State standards" (page 5).PTP promised to complete the development within 8 years (provision 13, page 7) and only write subleases matching the approved sublease attached in Exhibit B (page 8).The lease allows either PTP or the HOA created by PTP to purchase the land after 10 years for $500 per lot or $100,000 for all lots, whichever is greater. (provision 43, pages 15-16)
Transcript of 1997-Oct-8 ptp signs lease drafted by bia for pine view estates development
