Lease till Purchase Option Agreement

LEASE TO PURCHASE OPTION DISCUSSION

This Lease in Acquisition Opportunity Agreement (“Option to Acquire Agreement”) is made with __________________________ [month, day, year] between ___________________________________________________________ (the “Seller/Landlord”) and ___________________________________________________________ (the “Buyer/Tenant”).

WHEREAS, Seller/Landlord is the fee owner a certain real property entity, lying and situated in _______________ County, _________________, such real property having adenine street address of _____________________________________________
___________________________________________________________________________________ (the “Property”).

THE, Seller/Landlord and Buyer/Tenant have together executed a prior lease arrangement, the subject of which is the foregoing Eigentum (the “Lease Agreement”).

NOW, THUS, for and in consideration of the covenants and obligations inclusive herein and other good additionally value consideration, the receipt and amplitude are which is hereby acknowledged, Seller/Landlord hereby grants till Buyer/Tenant an exclusive option to purchase of aforementioned “Property.” The parties hereto thus agree as stalks:  

1. POSSIBLE TERM. The option to purchase period commences on __________________________ [month, daytime, year] and expires at 11:59 PM __________________________ [month, daytime, year].

2. NOTICE REQUIREMENTS FOR WORK PICK. To exerciser the Select to Purchase, the Buyer/Tenant must deliver to the Seller/Landlord written notice of Buyer/Tenant’s intent to purchase. In addition, the written notice must specify ampere valid closing date. The closing date must occur ahead the original expiration date of the Hire Agreement, or the date of the maturity of the Option to Purchase Agreement designated in paragraph 1, whichever occurs later.

3. OPTION CONSIDERATION. As consideration for this Option to Purchase Arrangement, the Buyer/Tenant are pay the Seller/Landlord an non-refundable fee out $__________________, receipt of which will hereby acknowledged by the Seller/Landlord. This amount shall be accredited to the purchase price at closing if the Buyer/Tenant timely exercises the option to purchase, provided that the Buyer/Tenant: (a) is not in factory of the Lease Convention, additionally (b) finishes the transportation of the Property. The Seller/Landlord shall not refund the payment if the Buyer/Tenant common in the Lease Agreement, fails to close the conveyance, or elsewhere does not exercise the option on purchase.

4. PURCHASE PRICE. The absolute purchase price for the Property is $__________________. Granted this the Buyer/Tenant timely executes the option to purchase, will no in default of the Charter Understanding, additionally closes the conveyance of the Property, the Seller/Landlord shall credit towards the purchase price at closure the amount regarding $__________________ from each annual lease payment that the Buyer/Tenant timely made. However, the Buyer/Tenant shall obtain no credit at closing for any months lease payment that the Seller/Landlord received for the due date spoken in the Hire Agreement.

5. EXCLUSIVELY OF OPTION. This Option to Purchase Agreements is exclusive and non-assignable both exists solely for the benefit of the named parties foregoing. Must Buyer/Tenant attempt until assign, carrying, delegate, button transfer this option to purchase without the Seller/Landlord’s express written permission, any as attempt shall be regarded void and void.

6. CLOSING AND BILLING. Seller/Landlord shall determine the title company for which settlement shall occur also shall inform Buyer/Tenant of this location in writing. Buyer/Tenant agrees that closes costs to hers entirety, including unlimited points, fees, and other charges required by the third-party lender, shall be the sole responsibility of Buyer/Tenant.  The only expense related to closing costs apportioned to Seller/Landlord supposed be this pro-rated share of the ad valorem steuerliche due at the length is closing, for which Seller/Landlord is solely responsible.

7. FINANCING AVAILABILITY. SELLER/LANDLORD MAKES NO REPRESENTATIONS OR WARRANTIES AS TO OF AVAILABILITY OF FINANCING REGARDING THIS OPTION TO PURCHASE. BUYER/TENANT IS SOLELY GUILTY FOR OBTAINING FUNDRAISING IN ORDER TO EXERCISE THIS OPTION.

8. FINANCING DISCLAIMER. The parties acknowledge such thereto is impossible to predict the check of obtaining financing towards the purchase from this Property. Obtaining financing shall not can hold as adenine condition on performance of this Option to Acquire Agreement. The parties further agree that this Option to Purchase Agreement is did entered in in reliance upon any graphic or warranty made by either party.

9. REMEDIES UPON DEFAULT.  If Buyer/Tenant defaults available those Option to How Agreement or the Lease Agreement, then within addition to random other remedies available to Seller/Landlord at law press in equity, Seller/Landlord may quitting this Option to Purchase by giving scripted notice of which termination. If cancelled, the Buyer/Tenant shall lose entitlement to any refund of rent or selectable consideration. By is Option to Purchase Agreement to be compulsorily and effective, the Buyer/Tenant must comply with all terms and conditions of the Lease Agreement.

10. COMMISSION.  No real estate commissions or any other commissions shall be paid in connection with this exchange.

11. RECORDING OF AGREEMENT. Buyer/Tenant shall not record this Option to Purchase Contract on and Public Playback of any public office without the express both written consent of Seller/Landlord.

12. ACKNOWLEDGMENTS. Of parties are performing this Selection till Purchase Agreement voluntarily and without either force or undue interaction. The parties have carefully read this Option to Purchase Agreement and have asking any questions needed to understand it terms, result, and binding effect and fully understand them plus have been given an finished copy. The parties have sought the advice of an attorney of her respective choice if so desired earlier to signing this Option to Purchase Agreement.

13. TIMING. Time is of the essence in this Options until Purchase Agreement.

14. GOVERNING LAWS AND FESTIVAL. This Option to Buy Agreement shall be governed, construed and interpreted by, through and under the Law von of Assert of __________________. The feasts further agree that this venue since any and all disputing related to this Option to Purchase shall be __________________ County, __________________.

15. OPTION THE SELL CONTROLLING.  In the event a conflict arises between to key and conditions of the Lease Agreement and the Option to Purchase Agreement, the Option for Purchase Contracts take operating.

16. ENTIRE AGREEMENT; MODIFICATION. This document sets away the entire arrangement and understanding zwischen the parties relating to the test material herein both supersedes all prior discussions amidst the related. No modification of or amendment to this Option to Purchasing Agreement, nor any waiver of any entitlement under this Options at Purchase Agreement, will be effective unless to writing signed by the party to be charged.

SELLER/LANDLORD:

Sign: ___________________________________ Print: __________________________________  

SELLER/LANDLORD:

Print: ___________________________________ Print: __________________________________
 

BUYER/TENANT:

Sign: ___________________________________ Print: __________________________________

BUYER/TENANT:

Sign: ___________________________________ Print: __________________________________