Fill and Sign the Louisiana Option 497309096 Form

STATE OF LOUISIANA PARISH OF [_PARISH_] OPTION TO PURCHASE BE IT KNOWN that on the dates indicated below, before the undersigned Notary or Notaries Public and the undersigned good and competent witnesses, PERSONALLY CAME AND APPEARED: [_SELLER_1_] , whose Tax Identification Number is [_TIN_1_] , and [_SELLER_2_] , whose Tax Identification Number is [_TIN_2_] , husband and wife domiciled in [_Seller_Parish_] , whose present mailing address is [_Seller_Address_] ; hereinafter jointly called "SELLER"; and [_PURCHASER_1_] , whose Tax Identification Number is [_TIN_3_] , and [_PURCHASER_2_] , whose Tax Identification Number is [_TIN_4_] , husband and wife domiciled in [_Purchaser_Parish_] , whose present mailing address is [_Purchaser_Address_] ; hereinafter jointly called "PURCHASER"; who did enter into the following agreement: 1. Subject to the following terms, SELLER does hereby give, grant and convey to PURCHASER an exclusive option or right to purchase the following described property: [_Property_Description_] The property conveyed herein has as its address [_Prop_Address_] . 2. The option or right granted and created hereby is in the nature of a continuing offer to sell the property made by SELLER to PURCHASER, which offer shall remain open to PURCHASER for a period ending at [_Time_Date_] . 3. The consideration for the granting of this option or continuing offer to sell by SELLER to PURCHASER is [_OPTION_PRICE_] ( [_$Option_Price_] ) DOLLARS, the receipt of which SELLER acknowledges, and it is agreed that this sum shall not be earnest money. 4. The price to be paid by PURCHASER to SELLER for the property described above, in the event that PURCHASER elects to accept the offer made by SELLER, shall be the sum of [_SALE_PRICE_] ( [_$Sale_Price_] ) DOLLARS, payable in cash at the time of the transfer. Property taxes for the year of the sale shall be prorated. 5. The sum paid for this option shall be part of the purchase price should PURCHASER decide to exercise the option, and if PURCHASER should decide not to purchase the property for reasons other than title defects, then the sum paid for this option shall be forfeited to SELLER. 6. Should PURCHASER decide to exercise this option and purchase the property described above, PURCHASER shall, before - 1 - the expiration of the option period, notify SELLER in writing of such desire to purchase the property and PURCHASER shall then have [_term_] days from the date of the notice to complete the sale. In the event that the sale is not completed within the time allowed, PURCHASER shall forfeit the option rights granted herein and the sum paid for them. 7. Should PURCHASER exercise the option granted herein, PURCHASER's obligation to buy the property described above is contingent upon PURCHASER's ability to use the property for [_Describe_] purposes, and should the property be zoned, restricted, subject to easements or servitudes, or subject to any other title defect which would render the property unusable for such purposes or make it impossible to borrow money on the property for title reasons, then any sum paid by PURCHASER to SELLER shall be returned. 8. This agreement shall be binding upon and inure to the benefit of all the parties hereto and their respective heirs, executors, administrators, assigns and successors. THUS DONE AND PASSED on [_Date_1_] at [_City_Parish_1_] , State of Louisiana, the undersigned parties having affixed their signatures in the presence of me, Notary, and the undersigned witnesses after due reading of the whole. WITNESSES: _____________________ __________________________ [_SELLER_1_] _____________________ __________________________ [_SELLER_2_] __________________________________ [_NOTARY_1_] , NOTARY PUBLIC THUS DONE AND PASSED on [_Date_2_] at [_City_Parish_2_] , State of Louisiana, the undersigned parties having affixed their signatures in the presence of me, Notary, and the undersigned witnesses after due reading of the whole. WITNESSES: _____________________ __________________________ [_PURCHASER_1_] _____________________ __________________________ [_PURCHASER_2_] __________________________________ [_NOTARY_2_] , NOTARY PUBLIC - 2 - OPTION TO PURCHASE - F1ASAL08 : This is an option to purchase immovable property, expiring at a specified time. For limitation on term of option see C.C. 2628. C.C. 2462 requiring consideration for an option is no longer in the law. See C.C. 2620 and comments. WORD KEY : EXPLANATION : [_PARISH_] Parish or parishes of execution. [_SELLER_1_] Full name of first seller. For alternative appearances, see document Appearances - F1AAPP1. [_TIN_1_] Tax Identification Number of first seller. [_SELLER_2_] Name of second seller, spouse of first. [_TIN_2_] Tax Identification Number of second seller. [_Seller_Parish_] Parish of domicile of sellers. [_Seller_Address_] Address of sellers. [_PURCHASER_1_] Name of first purchaser. For alternative appearances, see document Appearances - F1AAPP1. [_TIN_3_] Tax Identification Number of first purchaser. [_PURCHASER_2_] Name of second purchaser. [_TIN_4_] Tax Identification Number of second purchaser. [_Purchaser_Parish_] Parish of domicile of purchasers. [_Purchaser_Address_] Address of purchasers. [_Property_Description_] Description of property, including acquisition. [_Prop_Address_] Municipal number or address of the property to be conveyed. [_Time_Date_] Time and date on which option expires. [_OPTION_PRICE_] Price paid for option, in words. [_$Option_Price_] Price paid for option (in numerals with $). [_SALE_PRICE_] Sale price, in words. [_$Sale_Price_] Sale price, in numerals (with $). [_term_] Period in days within which sale must be completed. [_Describe_] Describe anticipated use of property. [_Date_1_] Date on which sellers sign. [_City_Parish_1_] City and parish in which sellers - 3 - sign. [_NOTARY_1_] Notary before whom sellers sign. [_Date_2_] Date on which purchasers sign. [_City_Parish_2_] City and parish in which purchasers sign. [_NOTARY_2_] Notary before whom purchasers sign. - 4 -