Officials of the North Dakota's State Historical Society agreed to pay the Marmarth Research Foundation $3 million for the rights of a mummified dinosaur.

Tyler Lyson discovered the fossil of the mummified hadrosaur named "Dakota" in 1999 on his family's property. In 2006, Lyson had the dinosaur experts dig the fossil for it to be studied. He took up biology and eventually became a paleontologist. He decided to give the rights of the fossil, which he owns, to North Dakota authorities to generate additional funding for the research foundation.

Aside from receiving the $3 million grant, the research team will also be allowed to display some of their fossils and access the research labs of the Heritage center. The agreement between the two parties is valid until July 1, 2015.

"Hopefully, we'll just be in partnership with them forever," said Historical Society Director Merl Paaverud to Jamestown Sun.

The 67-million-year-old fossil is extremely rare because of its well-preserved skin. High-resolution scans showed that its ligaments, tendons, and some internal organs are also intact. Its body weighs 8,500 pounds, while the arm and tail weigh an additional 10,000 pounds.

The agreement stated that the Heritage center must raise the $3 million payment for the rights in four years, or the deal will be cancelled. The officials are confident that they will raise the said amount with the help of private sources.

"There is a lot of interest," Paaverud said to the Associated Press. "People feel strongly about keeping it here."

North Dakota considers the deal as an "opportunity of a lifetime." It will be available for public viewing beginning Nov. 2 on the grand opening of the museum on Capitol grounds.