Option Deposit. On or before the Effective Date, Optionee shall deliver to Optionor as an option deposit an amount equal to $750.00 multiplied by the total number of actual/estimated Lots within the Option Property as set forth in column 1 on Exhibit "F". If after all of the Governmental Approvals are obtained for any Phase in a Project, the number of Lots within such Phase is determined to be more or less than the applicable amount shown on Exhibit "F", then the deposit shall be adjusted accordingly and the parties shall make such payment(s) to each other as are necessary to reflect such adjustment.
Appears in 2 contracts
Sources: Master Transaction Agreement (Meritage Homes CORP), Master Transaction Agreement (Meritage Homes CORP)