Res 1981-071 - Laserfiche WebLink

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(5) In the event, that the purchase price and closing costs for the purchase of the exchange property selected by Optionor exceeds the total consideration to be paid by Optionee to Optionor for the 103 acre tract under the terms of this agreement, then any additional purchase price and closing costs over and above the amount to be paid by Optionee for the 103 acre tract under the terms of this agreement, shall be paid by Optionor to Optionee at the time of closing. (6) It is expressly agreed and understood that the total consideration to be paid by Optionee in the event of an "Exchange" under the provisions of this agree- ment shall be, including the cost of the property acquired by Optionee at Optionor's request, the sum equal to the con- sideration to be paid by Optionee to Optionor for the 103 acre tract ($1,450.00 per acre) under the terms of this agreement, plus the $3,000.00 payment and the $7,000.00 payment provided for in this agreement. This Option Agreement contains the entire agree- ment between the parties hereto relating to the option herein granted. Any oral representations or modifications concerning this agreement shall be of no force or effect, excepting only a subsequent modification in writing signed t by the party or parties to be charged. This option agreement shall bind and inure to the benefit of all the respective heirs, personal representa- tives, successors and assigns of the parties hereto. If this option agreement is not accepted by Optionee, as evidenced by the execution and delivery of a duplicate original hereof to Optionor on or before 5:00 P.M. (local r time) on the 10th day following the date of execution by Optionor, then this agreement will automatically expire and terminate and be of no further force and effect. For all purposes hereof, the date of execution by the Optionee will be the effective date of this agreement. Page 7