Fill and Sign the This Agreement Entered into This Day of 20 between Form

- 1 - OPTION TO PURCHASE REAL ESTATE (LONG FORM) (SITE NAME) This agreement entered into this ____ day of __________, 20__, between __________________ hereinafter called "Seller", whether one or more, and __________________, a __________________ corporation, whose address is ______________________________________________________, and whose telephone number is __________________, hereinafter called "Buyer", whether one or more. WITNESSETH: In consideration for the amount of $______, cash in hand paid by Buyer to Seller, the receipt and sufficiency of which are hereby acknowledged and confessed, Seller hereby grants unto Buyer, for a period of SIX (6) months from the above date, the exclusive right and option to exercise this option to purchase the real property in __________ County, ______________, more specifically described as follows and, upon exercise, to thereupon purchase same as herein below provided: The total purchase price shall be the sum of $______________, including the sum paid for this option, to be paid by check from Buyer at the time of the closing of this sale. This option may be extended for an additional 6 months by written notice to Sellers during the first 6 month term of Buyer’s desire to extend and payment of $______ by check. To exercise this option, Buyer shall, on or before this option expires, give Seller written notice to that effect in person or mailed to the address shown by the signature below. All notices to Seller, if by mail, shall be considered as having been given when placed in the United States Mail, postage prepaid by the Buyer. Notice to any one Seller is deemed notice to all. In the event the Buyer fails to exercise this option and unless otherwise expressly provided herein, the sum paid for this option shall be retained by the Seller. In such event, the monies retained and costs hereunder assumed by the Buyer shall be considered to be a full and complete satisfaction and accord of any damages suffered by Seller because of Buyer's failure to purchase this p
T. And no further action shall be sought for the same. Seller hereby acknowledges and consents to the payment of a substantial portion of the purchase price for this purchase by the buyer as the full and entire cash consideration of the sale. Buyer agrees to not exercise such option for any cause whatsoever, or on behalf or for the benefit of any person other than him or herself, and to pay to seller such amount as the seller may assess against such compensation for selling the same as it may deem necessary. The contract heretofore set forth and expressly executed between buyer and seller will be considered to be one complete understanding, and the buyer further agrees that it is his duty to faithfully comply with all of its terms. This complete understanding includes all prior written and oral agreements, expressions of understanding, representations and undertakings of buyer, as well as all subsequent oral statements or representations of seller prior to or in connection with consummating the sale of the property being purchased. All such statements and representations are deemed to be included in the contract and binding upon both parties, in the event a written agreement for the sale of property is signed by both parties. Buyer will not obtain any title to real property except as herein expressly provided to be in his possession, and to keep possession thereof until the sale of the real property to him is completed. Buyer is not in any manner responsible for any damages to or defect in the physical property he purchases, including any damages caused by the buyer’s