Introduction

Section 19's 412 acres North of highway 50 is GRID's flagship property given its proximity to Fernley and its position as a future gateway to the interior of GRID properties North of the main rail line. Named the Dark Horse Geo Center, GRID's design team has prepared a color conceptual site plan for the development of the 412 acres which is provided in this Section and can be viewed on GRID's website.

Location and Features

The Center's 412 acres consists mostly of flat to gently sloping land with good drainage. The Center has approximately 1 1/3 mile of frontage on Highway 50 and is located within the incorporated limits of Fernley, Nevada's fastest growing City. A residential, golf course community is just ½ mile to the West of the Center. A new primary school consisting of grades one through six located between the golf course and the Center opened for the 2006 - 2007 academic year. A developer is planning to develop 20 acres of commercial and 80 acres of residential on the South side of the Highway from the Center.

Zoning and Permitting

The Center's 412 acres were zoned RR when GRID purchased the property. In 2005 the City of Fernley's Council and Commission in separate hearings unanimously approved GRID's application for annexation of the Center into the City and conformed it to the City's master plan to permit commercial and industrial development.

GRID's engineers have submitted an application to the City for a Record of Survey to divide the Center into its three component parts as per the conceptual plan:

-a retail component anchored by a major grocer or other retailer comprising approximately 35 acres in the Western portion of the Center

-a highway commercial retail/office corridor fronting the new Highway consisting of approximately 75 acres

-an interior light industrial component consisting of approximately 275 - 300 acres

Further subdivision of the Center within the above components will take place following the record of survey application process.

Highway Access and Frontage

The Center has approximately 1 1/3 miles of frontage on Highway 50. The Highway is currently being reconstructed to a four lane, controlled access roadway that will connect Fernley and Fallon with a modern, state of the art, transportation corridor. The Center will benefit significantly from its superior access to the new Highway consisting of a four directional High T on the West side of the property and a Right In/Out to the East. No other parcel fronting the current phase of the Highway construction has equivalent access to the new Highway.

GRID's High T and Right In/Out access construction will be undertaken by the State's contractor currently performing the highway construction with funds paid by GRID to the State in 2005. Completion of these highway improvements is targeted for November, 2006.

Rail Service

The main UP/BNSF rail line crosses the Northeast corner of the Center. TranSystems, GRID's rail design consultant, has prepared plans for unit train volume rail service onto GRID's properties South of the main line into the Geo Center and North of the main line into GRID's interior (see rail service maps.

Geothermal Development

In 2004, GRID commenced an intensive survey of its geothermal resource in the area of the Center. This consisted of aerial and surface gravity and magnetic surveys followed in 2005 by exploratory drilling in areas targeted by the surveys. As a result of the initial drilling phase of the exploration program, temperatures of 200 degrees were found at a relatively shallow depth of 600 feet in the interior of the Center. This temperature is within the range of that required for heating and cooling buildings and other direct use applications allowing GRID to realize one of the Center's prime objectives of servicing all its buildings with the geothermal resource. Further drilling within the Center in 2006 will determine if temperatures of 275 degrees and above capable of producing electricity can be located.

Utilities and Services

Water and Sewer

Various options exist for provision of water and sewer service to the Center.

GRID's Record of Survey application being filed with the City of Fernley is intended to commence the dialogue with the City regarding provision of these services. As noted in the GRID project binder, the City has determined to prioritize water service to commercial and industrial as opposed to residential development. A developer provided package treatment plant could not only make sewage treatment available on property but create valuable effluent for irrigation of the Center's common areas.

Electricity and Natural Gas

Sierra Pacific transmission lines presently front the Center on the Highway. GRID is also working with Sierra Pacific to upgrade services to the area to provide for future needs. Southwest Gas service is not yet extended to the Center from Fernley although area development is enhancing prospects for the same and both electrical and gas transmission lines must be extended from the West past the Center to service other developments further to the East along the Highway 50 corridor.

Communications

SBC provides cable and telephone services in the area of the Center.

The development of the Monterra residential project by Paramont on the South side of the Highway from the Center will facilitate the extension of services to the Center.

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