Cadiz Inc. (CDZI) a land and water resource development company announced that they have entered into a lease agreement with Water Asset Management (WAM). Under the terms of the lease agreement, WAM will make a one time payment of $12 million to Cadiz for a 99 year term lease of property in San Bernardino County, California. "Both companies also agreed that Cadiz can negotiate exclusively with WAM another future lease of 7,500 acres for a proposed price of $43 million." ( Insider Monkey ) The stock has been a hedge fund darling as more than 15% of the company's outstanding stock is owned by major hedge funds.