OPTION TO PURCHASE AGREEMENT

THIS AGREEMENT is made and entered into this ___ day of ______________, ______ by
and between ___________________ and all title holders to the property (hereinafter referred
to as “Optionor/Seller”), and ___________________, ___________________ as its
Authorized Representative (hereinafter referred to as “Optionee/Buyer”). WITNESSETH
THAT, under the mutual promises and covenants hereinafter set forth, the parties hereto
agree as follows:

1. CONSIDERATION: In consideration for the granting of this Option Agreement

(the “Option Consideration”), or other good and valuable consideration in hand paid to
Optionor/Seller, the receipt and sufficiency whereof are hereby acknowledged by
Optionor/Seller, Optionor/Seller hereby grants and conveys unto Optionee/Buyer a
Non- Exclusive Option to purchase the property described herein.

2. PROPERTY: That certain real property with such improvements as are located
thereon, and is described as follows: All that tract of land lying and being in Land Lot ___ of
the _____ District _____ Section of ___________________, ____________ and being
commonly known as

Address: ___________________________________________________________________
________________________________________________________________________

according to the present system of numbering in and around this area and being more
particularly described as Lot _____, Block _____, Unit ______, Phase/Section _____ of
_____________________ Subdivision, as recorded in Plat Book _____, Page _____,
________________________County records together with all light fixtures, all electrical,
mechanical, plumbing, air-conditioning, and any other systems or fixtures as are attached
thereto. The full legal description of the Property may be attached as Exhibit A.

3. TERM: The term of the Option shall be for a period of 4 months, commencing on
the _____ day of ________________, ________, and expiring on the ____ day of
_______________, ________.

4. EXTENSION OF OPTION PERIOD: Optionee/Buyer shall have the further

option, on or before the ____ day of ______________, ________, to extend the option
period for an additional period of 2 months, to the _____ day of ______________, _____,
upon giving notice of the extension of the option period to Optionor/Seller prior to the _____
day of ______________, ________.
5. PURCHASE PRICE AND METHOD OF PAYMENT: The purchase price for
the Property shall be: _____________________________ Dollars, (U.S.) $_________ or,
_________________________________________________, until the exercising of this
Option, to be paid in cash or its equivalent, less the Option Consideration contained herein.
Optionee/Buyer shall pay one half of all usual and customary closing costs, or any and all
such other arrangements and agreements the Optionor/Buyer and Optionee/Seller may agree
upon, unless specified in an addendum or in a superceding Purchase and Sale Agreement.

6. EXERCISING OPTION: Option shall be exercised no later than the expiration

date of this Option Agreement. The exercise of Option shall be evidenced by delivery of a
written notice of Intent to Exercise Option, fully executed by Optionee/Buyer, and delivered
to Optionor/Seller within the prescribed exercise period. In the event of the exercise of
Option, it is understood and agreed that if any rent payments are received by owner during
the term of this option, these payments shall be prorated and credited toward the purchase
price.

7. ADDITIONAL INDEBTEDNESS: As part of the Option Consideration paid to

Optionor/Seller, Optionor/Seller agrees not to allow any additional indebtedness, financing
or debt, other than current year taxes, to become liens against the Property.

8. PURCHASE AND SALE AGREEMENT: In the event of the exercise of this

Option by Optionee/Buyer, Optionor/Seller binds himself to enter into a Purchase and Sale
Agreement with Optionee/Buyer. In the absence of a Purchase and Sale Agreement, the
closing office may use this Option Agreement as the contract to close on.

9. TITLE EVIDENCE: Within 3 days after the notice of intent to exercise Option
has been received by Optionor/Seller, Optionor/Seller will deliver to Optionee/Buyer’s
closing office a title insurance commitment for an owner’s title policy showing that
Optionor/Seller is delivering good, clear, and marketable title. Any expense of curing any
title flaws, including but not limited to legal fees, discharge of liens and recordings fees will
be paid by Optionor/Seller.

10. METHOD OF GIVING NOTICE: If this Option is to be extended or exercised

by Optionee/Buyer, Optionee/Buyer shall give written notice either in person or mailed by
certified mail, return receipt requested, to Optionor/Seller at Address: ________
________________________________________________________________________
City:___________________________ State:________________ Zip:_______________.

11. AGREEMENT BINDING: This Agreement shall be binding upon the parties
hereto and their respective heirs, administrators, successors, and assigns.
12. GOVERNING LAW: This Agreement, and all transactions contemplated hereby,
shall be governed by, construed and enforced in accordance with the laws of the State of
___________________. The parties herein waive trial by jury and agree to submit to the
personal jurisdiction and venue of a court of subject matter jurisdiction located in
___________________ County, State of ___________________. In the event that litigation
results from or arises out of this Agreement or the performance thereof, the parties agree to
reimburse the prevailing party’s reasonable attorney’s fees, court costs, and all other
expenses, whether or not taxable by the court as costs, in addition to any other relief to which
the prevailing party may be entitled. In such event, no action shall be entertained by said
court or any court of competent jurisdiction if filed more than one year subsequent to the date
the cause(s) of action actually accrued regardless of whether damages were otherwise as of
said time calculable.

13. SPECIFIC PERFORMANCE: In addition to the remedies specified herein,

Optionee/Buyer may, in the event of default by Optionor/Seller, enforce this agreement
through an action for specific performance.

14. MEMORANDUM OF OPTION: Optionor/Seller hereby agrees to execute a

Memorandum of Option in favor of Optionee/Buyer. This Memorandum shall operate as
a lien upon the subject real property and shall serve notice to the public that the
Optionee/Buyer has the right to purchase same upon the terms and conditions agreed
upon between the parties by the above referenced date.

15. OPTIONOR/SELLER’S DELINQUENCY: Should Optionor/Seller be

delinquent on any payment due under any note and deed to secure debt, or should
Optionor/Seller cause a notice of foreclosure to be filed, then Optionee/Buyer may, at
Optionee/Buyer’s discretion, cure default, and Optionee/Buyer shall receive two dollars
credit towards the purchase price for every dollar expended, should Optionee/Buyer
exercise this Option. Optionor/Seller hereby agrees and affirms that Optionor/Seller will
execute a note and deed to secure debt for the amounts required to cure such default,
should Optionee/Buyer cure any such default under this provision. Should
Optionee/Buyer allow Option to expire, all sums expended by Optionee/Buyer, under this
provision, shall be repaid in full, or shall be filed as a lien against the Property.

16. INSURANCE: During the term of this Option Optionor/Seller shall insure
Property against physical damage, casualty etc., for an amount to be determined by
Optionor/Seller’s insurance carrier as the replacement value of the Property plus
additional amounts as indicated by property value increases. Optionee/Buyer shall be
named as an “Additional Insured” on said insurance policy.

17. TIME: Time is of the essence of this Option Agreement.

18. SEVERABILITY: In the event that any part of the Option Agreement should
be construed as unenforceable, the remaining parts of the Agreement shall remain in full
force and effect as though the unenforceable part or parts were not written into the
Agreement.
19. GENDER: All references to Optionor/Seller or Optionee/Buyer herein
employed shall be construed to include the plural as well as the singular, and the
masculine shall include the feminine and neuter where the context of this agreement may
require.

20. ENTIRE AGREEMENT: This Agreement and any attached addendum

constitutes the sole and entire Agreement between the parties and no representation,
promise, or inducement not included in this Agreement, oral or written, shall be binding
upon any party hereto.

21. SPECIAL STIPULATIONS:

a.) Optionor/Seller agrees to pay Optionee/Buyer in advance for any and all costs of
marketing the property. This may include, but is not limited to, newspaper
advertising, radio and / or television advertising, road signs, yard signs, brochures
and expenses associated with “Open House” events. Optionee/Buyer shall
provide Optionor/Seller supporting receipts and expense tracking.
b.) Optionor/Seller also agrees to pay Realtor commissions, if any, as required by the
sole discretion of the Optionee/Buyer.

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IN WITNESS WHEREOF, the parties have signed this Agreement the day and year first
above written.

__________________________________ __________________________________
Optionor/Seller Optionee/Buyer

__________________________________ __________________________________
Optionor/Seller Optionee/Buyer