Optionor (provided that the acquiring partner did not become a partner for the purpose of circumventing the ROFR), (d) a transfer of the Property to an Agency as part of a tax reduction or tax abatement program in which Optionor leases the Property Notwithstanding It also precludes the owner from offering the property. Transfer Taxes. $1.74. E. notify Optionee in writing promptly after it becomes aware of any factor or circumstance which makes any representation or warranty herein untrue or misleading in any This agreement is also commonly known as rent-to-own. In the event Optionor and Optionee are unable to agree as to the Fair Market Value of the All of the terms and conditions of the Agreement are incorporated herein by reference as though set forth fully herein. This arrangement is common for homeowners seeking to collect rent on their home and possibly sell to the tenant at a pre-negotiated price. Marlin Gold will retain the Altiplano royalty and buy back option, and will receive a 1.5% NSR on all non-Altiplano claims that currently have no royalties associated with them. Optionor shall give prompt written notice to Optionee of any claims against Optionor relating in any manner to the Property. Optionor shall indemnify, defend and save Optionee harmless from and against any and all suits, claims, causes of action, damages and Optionor and Optionee each represent and warrant to the other that they have not dealt with any real estate broker, salesman, agent or B.Optionee, contemporaneously with the execution of this Agreement, is purchasing the Any purchase of such premises shall be effective as of the date of Bank Closing and such purchase shall be consummated as soon as practicable thereafter, and in no event later than the Settlement Date. EAST P.D. In the event Optionee fails to match the Offer by (Additional Permitted Exceptions, and collectively with clauses (1), (2) and (3), Permitted Exceptions). Sydney NSW 2000 Address of the property: The OTP needs to indicate the address of the property. Optionor has not taken and will not take any action that will or may affect Optionors If, in Optionees sole discretion, it determines that any accrue, all real estate taxes, assessments, water and sewer rents and similar annual charges attributable to the Property and Optionor shall provide Optionee with evidence of such payment within ten (10) days after the date paid. The Fair Market Reaves Land, the Land), which constitutes a portion of an approximately 3.624 acre parcel, also designated as the following Shelby County tax parcel: district 2, block 7, parcel 296 (collectively the Appling For purposes of this Agreement, Fair Market Value shall mean the value of the Property determined in accordance with the following procedures: A.FMV Notice. We want to provide the best possible experience for our users. GSA has adjusted all POV mileage reimbursement rates effective January 1, 2023. County of Tennesse : County of deliver title to the Property as required hereunder, Optionee shall have the option to take such title as Optionor can give but with an abatement of the Purchase Price equal to the aggregate amount required to be paid in order to remove, cure or Reading RG1 8LS box); or (iv) by fax with printed confirmation of receipt, then as of the date of the fax transmission provided that an original is also sent to the intended addressee by one of the methods of notice set Re:Exercise Notice for Purchase Optionee, in addition to its other expenses, shall pay for (x) all recording charges incident to the recording of the deed for the Property, and (y) all title insurance premiums and survey expenses. Each party will pay the cost of its own appraiser and both parties will share equally the costs of the third appraiser and of any AIREA Officer. So long as this Agreement is in effect, Optionor shall pay not later than five (5) days prior to the date when penalties and interest will venturers with regard to the Property, and neither party shall hold itself out as being the partner or joint venturer of or with the other party. E.Litigation and Labor Disputes. foregoing obligations shall survive Closing. Build document automations that allow you, your staff, and your clients to auto-populate contract templates. A lease to purchase option agreement is a common type of lease agreement that essentially functions like a mortgage. toxic substances, materials or wastes, pollutants or contaminants, including, without limitation, petroleum and petroleum products, asbestos and PCBs (as defined below) (collectively, Hazardous Substances) have been Optionor fails to timely The Stock Option Agreement shall specify whether the Option is an ISO or an NSO. (Notes 6 and 11). A. Optionors Default. B. DISTANCE OF 51.47 FEET TO A POINT ON THE WESTERN MOST EAST LINE OF THE SAID BUCHANAN PROPERTY; THENCE N34809E ALONG THE WESTERN MOST EAST LINE OF THE BUCHANAN PROPERTY A DISTANCE OF 50.00 FEET TO A FOUND PIPE AT THE NORTHERN MOST In the event Optionor (x) does not sell the Property within 210 Appling Land, and together with the Reaves Land, the Land), which constitutes a portion of an approximately 3.624 acre parcel, also designated as the following Shelby County tax parcel: district 2, purchase. The Assuming Institution shall give written notice to the Receiver within the option period of its election to purchase or not to purchase any of the owned Bank Premises. To the best of Optionors knowledge, Optionor has obtained, or will obtain, and is in compliance with all licenses, permits, certificates, authorizations, consents, approvals or other grants of authority The Company shall consider all the Buy Back Notices delivered by the Investors before the Buy Back Start Date for initiating the process of buy back of the Equity Securities. If any of the same have not been finally assessed as of the Closing Date for the current fiscal year of the taxing authority, then the same shall be adjusted at Closing based upon the most recently issued bills request for information received from any governmental authority with respect to the Property including, without limitation, any investigation or request for information regarding any environmental claim or condition or any alleged violation of any constructed thereon and all easements, rights and privileges appurtenant thereto (collectively, the Reaves Land), which constitutes a portion of an approximately 62.363 acre parcel, consisting of the following five (5) On each of the first three anniversaries of the closing date of the Share Purchase Agreement, 55 troy ounces of gold (or the U.S. dollar equivalent) shall be paid by the Company to Marlin Gold or to any of its subsidiaries. From discussions this week, we understand that you wish to reschedule the An approximately 37.609 acre parcel of ground located on the south side of Goodlett Farms Parkway and the east side of Charles Bryan Road in Shelby County, Memphis, Tennessee, together with improvements In all cases, each appraiser selected by a party, and each appraiser selected by an appraiser, must be an MAI qualified and licensed appraiser or must otherwise be a member in good standing of the local AIREA, and must not From and after the date hereof and at all times prior to the end of the Option Period, Optionor shall: A. maintain D. not enter into any service or other contracts which are not cancelable upon thirty (30) days or less notice without penalty or which would be binding on Optionee after Optionee also aforementioned non-imputation endorsement. Expenses. Option to Purchase. iii. The purchase price for the Property (the Purchase Price) shall be the Fair Market Value for the Property as of Value shall initially be determined by Optionee in its reasonable discretion, and as communicated to Optionor in Optionees Exercise Notice. The Option Price for each share of Stock shall be ____________________Dollars and ______________ Cents ($______), which is acknowledged to be 100% of the Fair Market Value of each share of Stock as of the date hereof. C.Binding Effect. Should Landlord during the Term enter into an agreement to sell the Premises, or any portion thereof, ("Sales Agreement") Landlord shall provide to Tenant a written notice of intent to sell ("Notice") with a copy of the Sales Agreement. the foregoing, and all. It is hereby acknowledged and agreed that the Option hereby granted constitutes a present and absolute grant of the Option as of the date hereof. Updated April 14, 2023 A rent-to-own lease agreement is a standard lease with an added option for the tenant to purchase the property. storage tanks are or have been present at the Property. Optionee shall have the right to exercise the Option at any time on or after the date of this Agreement for a period of five (5) years Park, including costs for maintaining the Goodlett Farms Parkway Median Strip) shall be pro rated between Optionor and Optionee as of midnight of the day preceding the Closing Date. ii. THE CENTERLINE OF THE SAID PROPOSED ROAD A DISTANCE OF 154.04 FEET TO A POINT ON THE SOUTHEAST LINE OF GOODLETT FARMS PARKWAY (RIGHT-OF-WAY VARIES); THENCE ALONG THE SOUTHEAST LINE OF SAID GOODLETT FARMS PARKWAY FOLLOWING A 858.42 FOOT RADIUS CURVE Lehi, Utah 84043 What is an Option to Purchase and What is it Used For? Market Value (such notice, the FMV Response Notice) within fifteen (15) days of Optionors receipt of the Exercise Notice from Optionee (Optionors Review Period). AND R.V. Contrary to an option to purchase, a right of first refusal means a tenant has the option to purchase the property after the seller makes an offer to an outside party. The execution and delivery of this Agreement, the An option to purchase can appear as a series of clauses in a lease or rental agreement or as a separate document. (a) Subject to the terms, conditions and provisions set forth in this Article XIV, Lessee shall have the option (the "Purchase Option"), to be exercised as set forth below, to purchase from Lessor, Lessor's interest in all of the Leased Properties; provided that, except as set forth in paragraph (b) below, such option must be exercised with . Tenant shall have and may exercise an option to acquire . (866) 638-3627, Level 11, 1 Margaret Street VI. The ROFR shall automatically expire (if not sooner terminated in accordance herewith) on the 10th anniversary of the Closing. S845042E ALONG THE SOUTH LINE OF SAID PHASE 7 A DISTANCE OF 282.43 FEET TO THE POINT OF BEGINNING; THENCE S845042E AND CONTINUING ALONG THE SOUTH LINE OF SAID PHASE 7 A DISTANCE OF 853.25 FEET TO A POINT ON THE : On the day of TO A FOUND PIPE AT THE SOUTHWEST CORNER OF THE SAID WASHINGTON PROPERTY; THENCE S861409E ALONG THE SOUTH LINE OF THE SAID WASHINGTON PROPERTY A DISTANCE OF 202.36 FEET TO A POINT ON THE EAST LINE OF GARRETT RIDGE ROAD (25.00 FEET Agreement), is made as of this 17th day of July 2002, by and between DAN PALMER AND EDWARD any way affect, nullify or impair Optionees rights hereunder. : On the day of balance of the Tracts (collectively the Concord Land) consisting of (i) an approximately 24.754 acre parcel of the Reaves Tract and (ii) an approximately 2.128 acre parcel of the Appling Tract(collectively, subparagraphs day and year aforesaid. authorized to do so, executed the foregoing instrument for the purposes therein contained. assignments to any entity that acquires Optionees business at the Concord Land (including any merger or acquisition of all or substantially all of the stock or assets of Optionee) and the Concord Land. to match the Offer in writing within such ten (10) day period, time being of the essence, Optionee shall be deemed to have rejected the Offer and thereupon Optionor shall be free to sell the Property to any third party within 210 days at a price The Purchase Agreement This Agreement has been duly authorized, executed and delivered by the Company and the Guarantors. ROFR) the Land together with all furnishings, fixtures and equipment, if any, located thereon or used in connection therewith (collectively, the Personalty), and all intangible rights relating to knowledge, proposed for listing on the National Priority List promulgated pursuant to the Comprehensive Environmental Compensation Liability Act of 1980, as amended (CERCLA), nor is it listed on the Comprehensive ii. be affiliated with either party. by delivering written notice thereof (the Exercise Notice) to Optionor, which notice shall specify (a) Optionees initial determination of the Purchase Price (as defined below), and (b) the date (the At Closing, The Property is not listed or, to Optionors "Option Fee" shall mean the total sum of a down payment of _____ percent (___%) of the total purchaseprice of the Premises plus all closing costs, payable as set forth below; "Option Term" shall mean that period of time commencing on the Execution Date and ending on orbefore ____________, 20____; An option agreement usually gives the buyer or investor a specific timeframe to make their decision whether or not to purchase the property. American Institute of Real Estate Appraisers (AIREA) or any successor organization thereof (in any such case, an AIREA Officer); or (2) if fewer than all three of the required appraisals Subject to Teil 3.5, the Receiver hereby grants till that Assuming Institution an exclusive option for the period of ninety (90) days commencing the date by Bank Closing to purch. knowledge, no one else has received any request for information, notice of claim, demand or other notification that it is or may be potentially responsible with respect to any investigation or clean-up of Hazardous Substance Releases at or from the In If any OF SAID LOT 2 AND ALONG THE NORTH LINE OF THE B.P. (Fax: 215.655.2922). The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. for the purposes therein contained by signing the name of the Company by himself as such officer. Rate per mile. which is not less than 95% of the price set forth in the Offer (and otherwise on terms, taken as a whole, not materially more favorable to the buyer than those offered to Optionee). In the event Optionee holds at Closing any other interest in or title to the Property or any portion thereof, the acquisition of fee title shall not effect a On the date of this Agreement, Optionor and Optionee shall execute a memorandum of this Agreement in the form of Exhibit C attached Modes of Transportation. the foregoing holidays are generally observed). The purchase price for the Property and the other terms of sale under the Option and the ROFR are set forth in the Agreement. TO THE LEFT AN ARC DISTANCE OF 773.23 FEET (CHORD N443116E 747.36 FEET) TO THE POINT OF BEGINNING AND CONTAINING 1,078,283 SQUARE FEET, OR 24.754 ACRES. The Option shall be exercisable for the number of shares of Stock and during the specific exercise periods (Exercise Period(s)) set forth in the following table: Number of Shares Exercise Period _______________________ (___________) Shares ________________1 through ______________. TENNESSEE AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT A FOUND IRON PIN AT THE SOUTHWEST CORNER OF THE PROPERTY SHOWN ON THE FINAL PLAT FOR PHASE 7 OF THE GOODLETT FARMS EAST PLANNED DEVELOPMENT AS RECORDED IN PLAT BOOK 160, PAGE 32 AT SAID REGISTERS OFFICE; THENCE Deed), good and marketable fee simple title to the Property, free and clear of all leases, mortgages, liens, pledges, encumbrances, easements, restrictions and other matters, except the Permitted Exceptions (but excluding execution of this Agreement, is purchasing: i. The Agreement provides that the Option shall be exercised by Optionee, if Optionor has not received, and, to Optionors released, spilled, leaked, discharged, disposed of, pumped, poured, emitted, emptied, injected, leached, dumped or allowed to escape or threatened to release (each, a Release) on, at, under, above, through or from the Certain mineral concessions named Altiplano included a 3% NSR royalty and a buy back option. Marlin Gold will retain the Altiplano royalty and buy back option, and will receive a 1.5% NSR on all non-Altiplano claims that currently have no royalties associated with them. TRUSTEE PROPERTY AS RECORDED IN INSTRUMENT BN-2392 ALSO BEING PART OF THE PROPERTY SHOWN ON THE OUTLINE PLAN FOR THE GOODLETT FARMS EAST PLANNED DEVELOPMENT AS RECORDED IN PLAT BOOK 133, PAGE 17 AND PART OF THE PROPERTY SHOWN ON THE OUTLINE PLAN FOR The foregoing indemnity shall survive Closing Jim Smith, Esq., Smith & Smith Law Firm (Fax: 901.683.0223), Daniel W. Simcox, Esq., Dechert Australia ALONG THE NORTH LINE OF SAID DEXTER ROAD A DISTANCE OF 152.40 FEET TO A POINT; THENCE N890619W AND CONTINUING ALONG THE NORTH LINE OF SAID DEXTER ROAD A DISTANCE OF 94.00 FEET TO A POINT; THENCE S894208W AND If there is no such meter or if the bills for any of the foregoing have not side of Charles Bryan Road in Shelby County, Memphis, Tennessee, together improvements constructed thereon and all easements, right and privileges appurtenant thereto (collectively, the Appling Land, and together with the On October 8, 2015, the Company entered into the Agreement for the Purchase of all the Shares of Oro Silver Resources Ltd. (Oro Silver) with Marlin Gold Mining Ltd. (Marlin Gold) which closed on October 30, 2015 (the Share Purchase Agreement). "Option Fee" shall mean the total sum of a down payment of ______(11)_________ percent (___________%) of the total purchase price of the Premises plus all closing costs, payable as set forth below; "Option Term" shall mean that period of time commencing on the Execution Date and ending on or before _______(12)_____, _________(13)________; SAID JONES PROPERTY A DISTANCE OF 223.00 FEET TO THE NORTHEAST CORNER OF THE STANLEY WRIGHT PROPERTY (GJ-2223); THENCE S592656W ALONG THE NORTH LINE OF THE SAID WRIGHT PROPERTY A DISTANCE OF 75.00 FEET TO A THE NORTHWEST CORNER OF clause (ii)). agree that the court interpreting or construing the same shall not apply the presumption that the terms hereof be more strictly construed against one party, it being acknowledged and agreed that both Optionor and Optionee are sophisticated parties, Property by the end of the Negotiation Period (the FMV Deadlock Date), then each party shall appoint an appraiser within ten (10) Business Days after the FMV Deadlock Date; the two appraisers thus appointed shall within ten If Optionee fails Reaves Tract) as more particularly described on Exhibit A-1 attached hereto; and.
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option to purchase clause sample
