Sample Of Option To Purchase Agreement

TITLE: Within fifteen (15) days following that the buyer has exercised this option as provided above, the seller must issue to the buyer or the buyer`s lawyer a certificate of ownership from a serious lawyer on whose certificate can be taken out title insurance covering the property described in paragraph I above, which reflects this negotiable tax, that the mere ownership of the property in question belongs to the seller and which is held by a T itelgesellschaft is insurable at the choice of the buyer. This certificate is only subject to taxes for the current year, easements and rights of way as well as previous mineral reservations. If this certificate reflects other exceptions to the title that are not acceptable to the buyer, the buyer must inform the seller in writing of the defects within fifteen (15) days (title verification period) and the seller must have a reasonable period (but not more than 25 days) to make the title good and marketable or insurable. and endeavours to do so with all due diligence. If, after due diligence, the seller is unable to make the title acceptable to the buyer within such a reasonable time, the buyer has the opportunity either to accept the title in its present state, without further obligation on the part of the seller to remedy a defect, or to terminate this contract. If this contract is so terminated, all money that the buyer has paid to the buyer during the performance of this contract or during an extension is returned to the buyer, and this contract terminates without further commitment of either party to the other. If the property is acceptable to the buyer, the closing must take place within fifteen (15) days of the expiry of the Title Review Period. Upon closing, the seller transfers ownership to the buyer by a warranty deed, subject to exceptions acceptable to the buyer. EXERCISE OF OPTION: This call option may be accepted by the buyer at any time before midnight on the 20th By written notice to the seller at the following address: , _ ______. All messages are deemed to be sent to the seller if the U.S. business is certified by mail, if the return certificate is requested, addressed to the address above.

EXTENSION: Buyer has the right to extend until midnight, 20 __ the period within which this option may be exercised, to pay the Seller an additional amount of $in cash prior to the expiration of the original option period, and to notify seller in writing of buyer`s choice to extend the option. Upon the end of the sale within the extended option period, this amount applies to the purchase price. OPTIONGELD: Upon execution of this option, the buyer paid the seller the amount of $en as “option money”. In the event that the buyer exercises the option to purchase such property within the initial option period or renewal and is not in arrears under other terms of this Agreement, such option money shall apply to the purchase price at conclusion. . . .