Fillable Lease To Purchase Option Agreement Form (Page 2 of 3) in pdf

Lease To Purchase Option Agreement Form Page 2

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$_______ from each monthly lease payment if every monthly lease payment was

timely remitted to Seller/Landlord pursuant to the Lease Agreement. No credit shall

be given at closing if any monthly lease payment was received by the Seller/Landlord

after the due date established in the Lease Agreement.

CLOSING AND SETTLEMENT. Closing and settlement shall be at a title

company designated by the Seller/Landlord. All closing costs and any points, fees

and/or charges imposed by the Buyer/Tenant’s lender shall be the sole responsibility

of the Buyer/Lender. Seller/Landlord shall only be responsible for its pro-rated share

of the ad valorem taxes due as of the date of closing. IT IS THE BUYER/TENANT’S

SOLE RESPONSIBILITY TO ARRANGE FINANCING FOR THE

TRANSACTIONS. SELLER/LANDLORD HAS MADE NO REPRESENTATIONS

TO BUYER/TENANT REGARDING THE AVAILABILITY OF FINANCING OF

BUYER/TENANT’S ABILITY TO QUALIFY FOR FINANCING.

REMEDIES UPON DEFAULT. (a) In the event of any such default by

Buyer/Tenant of this Option to Purchase Agreement or the Lease Agreement, then in

addition to any other remedies available to Seller/Landlord at law or in equity,

Seller/Landlord shall have the option to terminate this Option to Purchase Agreement

and all rights hereunder by giving written notice of termination. Tenant/Buyer is not

entitled to any refund of rent or option consideration whatsoever. (b) All of the terms

and conditions of the Lease Agreement must be complied with in order for this option

to be enforceable. In the event this Option to Purchase Agreement conflicts with any

part of the corresponding Lease Agreement, the terms and conditions of this Option to

Purchase Agreement shall be superior and prevail.

COMMISSIONS. There will be no real estate commissions paid as a result of this

transaction.

MODIFICATION. Any modification of any portion of this Option to Purchase

Agreement must be made in writing signed by both parties.

10. REFERENCES IN WORDING. Plural references made to the parties involved in

this Option to Purchase Agreement may also be singular, and single references may

be plural. These references may also apply to Landlord/Seller and Buyer/Tenant

heirs, executors, administrators, successors as the case may be.

11. TIME OF PERFORMANCE. Time is of the essence in this Option to Purchase

Agreement.

12. ENTIRE AGREEMENT. As written, this Option to Purchase Agreement

constitutes the final, entire agreement between the Buyer/Tenant and

Seller/Landlord. They have made no further promises of any kind to one another, nor

have they reached any other understandings, either written or oral.

Lease To Purchase Option Agreement Form Page 2

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