Simple Option To Purchase Agreement

BUYER`S DELAY: In the event of buyer`s failure to exercise this option or in the event of buyer`s delay after exercising this option, all money that buyer has paid to seller during the performance of this contract or during an extension is withheld by seller as lump sum damages and in return for granting this option to buyer. and the extinguishment of all rights of the buyer of this agreement. Optional sentences/clauses are included in square brackets. These must be carefully read and selected to be compatible with each other. Unused options should be removed from the document. This is a simple form of option agreement. The option can only be exercised in respect of the whole country (not part or part of it). PURCHASE PRICE: The purchase price of the property is ($). The purchase price after using the option must be paid in cash by urchaser to the seller. The conclusion is made within fifteen (15) days of delivery by the seller of a certificate of title acceptable to the buyer in accordance with paragraph IV. EXTENSION: The buyer is authorized to extend until midnight, 20 __ the period within which this option can be exercised, to pay the seller an additional amount of $ in cash before the expiration of the initial option period and to the seller in writing about the buyer`s choice to extend the option Inform him. Upon the end of the sale within the extended option period, this amount applies to the purchase price. 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 due diligence.. . . .

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