LAND OPTION AGREEMENT
This Land Option Agreement (“Agreement”) is made as of 15 March 2025 (“Effective Date”) by and between Hawthorn Solar Developments Pty Ltd (“Developer”) and Greenfields Pastoral Pty Ltd (“Landowner”).
1. Grant of Option
1.1 Landowner grants to Developer the exclusive option to acquire the land described in Schedule 1 on the terms and conditions set out in this Agreement.
1.2 The Option Area comprises approximately 620 acres of land situated in the Shire of Greenvale, Queensland, more particularly described in Schedule 1 (the “Land”).
2. Term
2.1 The Option commences on the Effective Date and remains in force for three (3) years. 2.2 Developer may extend the Option for up to two (2) further periods of one year each by written notice.
2.3 The total maximum term of the Option shall not exceed five (5) years.
3. Option Payment
3.1 Developer shall pay Landowner an annual option payment of AUD $100,000 in advance on each anniversary of the Effective Date.