Fill and Sign the Option to Purchase Property Alabama Form

STATE OF ALABAMA: COUNTY OF ___________________ In consideration of the sum of _________________________ Dollars ($____________), the receipt whereof is hereby acknowledged, we ______________________________________, husband and wife, hereby give and grant unto ______________________________________, his/her heirs and assigns, the option and privilege of purchasing for the full purchase price of ______________________________________ Dollars ($____________), the hereinafter described real estate, to-wit: ( Insert Legal Description or attach as Exhibit A ) ______________________________________, his/her heirs and assigns, shall have the right to exercise this option of purchase at any time within twelve (12) months from the date hereof and we agree to execute to him/her, his/her heirs and assigns, a General Warranty Deed in form sufficient to pass the full fee simple title to the property described herein, free and clear of all liens, claims and encumbrances. On the execution and delivery of said Warranty Deed as set forth above, we are to be paid the total purchase price, the sum of ______________________________________ Dollars ($________), the amount paid for this option which the optionee, ________________________, his/her heirs and assigns, is to be given credit therefor on the purchase price, in the event. he/she, his/her heirs and assigns, exercise this option of purchase. Time is the Essence of this Contract and failure on the part of the Optionee, his/her heirs and assigns, to exercise the rights hereunder in the time as set forth herein, shall forfeit all of the rights under this option and the same shall be null and void and the consideration paid therefor shall be retained by the Optionor. IN WITNESS WHEREOF, we, ______________________________________, have hereunto set our hands and seals on this the ______ day of __________________, 20_______. _________________________________________ _________________________________________ STATE OF ALABAMA: COUNTY OF ___________________ Before me, ______________________________________, the undersigned authority in and for said County in said State, personally appeared _________________________________, husband and wife, who are known to me and who being by me first duly sworn doth depose and say that they have read the contents of the foregoing Option to Purchase and have executed same voluntarily on the day the same bears date. Given under my hand and seal this the _____ day of ______________, 20_____. _________________________________________ NOTARY PUBLIC My Commission Expires:__________________