201804143 - Laserfiche WebLink

Browse

together with all improvements thereon and related personal property, as appropriate; 20180414 WHEREAS, following the death of Michelle E. Clark, the Optionees desire to have an option to purchase the said real estate and the Optionors have agreed to provide the Optionees with such an option; and WHEREAS, the Optionors have agree to put this option in writing to be recorded at the appropriate register of deeds office. NOW, THEREFORE, in consideration of the sum of Ten Dollars ($10.00) and other valuable consideration, the Optionors grant to the Optionees an option to purchase as follows: 1. GRANT OF OPTION. The Optionors grant to the Optionees (or the survivor ofthe Optionees) the exclusive option to purchase either one or both tracts of the said real estate (whether held individual by the Optionors or in their names as trustees of a revocable trust, which shall be considered to be an allowable transfer hereunder and shall not trigger the option). 2. PERIOD OF OPTION. The option shall arise following the death of Michelle E. Clark (hereinafter referred to as the "triggering event "). If not timely exercised, the option granted shall immediately expire and shall be null and void and of no further force and effect. Upon the expiration of the option, the Optionees, their heirs, personal representatives, and successors, shall have no further rights or claims to the said real estate. 3. NOTICE OF EXERCISE. The option is to be exercised by the Optionees delivery of the down payment amount, a signed purchase agreement reflecting the provisions of this agreement, and a written notice of intent to exercise the option. The option hereunder shall be exercised not later than six (6) months after the triggering event. 4. PURCHASE PRICE. The purchase price for the said real estate may be mutually agreed upon by the selling party and the Optionees. In the event that both parties shall not be able to mutually agree upon the purchase price, the purchase price shall be its fair market value as established by a licensed appraiser selected by the parties with the cost of the appraisal to be paid equally by both parties. If agreement is not reached on an appraiser within thirty (30) days, each party shall select an appraiser and the average of the two (2) appraisals shall determine the purchase price with each party paying for the cost of their appraiser. 5. EXERCISE OF OPTION. If the option is exercised by the Optionees as provided herein, the selling party, or their successor trustee, heirs, or personal representative, as appropriate (herein referred to as the "selling party "), shall convey the said real estate by an appropriate deed. Delivery of such fully executed deed shall be made at closure. Final closure shall be within sixty (60) days after the exercise of the option set forth herein. The Optionees shall pay ten percent (10 %) of the purchase price of the said real estate as a down 2