How did the US secure rights to build a canal through Panama?

The US secured rights to build a canal through Panama through the Hay-Bunau-Varilla Treaty of 1903, which was signed between the United States and Panama. The treaty granted the United States perpetual control of the Panama Canal Zone, a 10-mile-wide strip of land through which the canal was constructed. The United States also gained the right to build, operate, and maintain the canal, as well as to defend the canal from any threats. In exchange, the United States agreed to pay Panama $10 million and an annual rent of $250,000. The treaty also granted Panama sovereignty over the rest of the country.