Release Price. The release price is explained in the Information Statement mailed to Buyer and dated September 1, 2015 (the "Information Statement"). Assuming that the Closing Date will occur on October 1, 2016 the release prices will be as follows and will be prorated and adjusted based upon the actual Closing Date (if different from the above): $ 674.75 $ 8,845.13 742.22 9,501.58 787.20 9,938.34 809.70 10,158.88 877.17 10,814.44 944.64 11,470.87 1,012.12 12,127.30 1,214.54 14,096.81 1,349.49 15,409.67 1.686.87 18,692.03 2,080.47 22,521.20 2,249.15 24,162.28 2,474.15 26,350.59 2,698.99 28,538.91 following amount: Escrow Holder shall hold for the benefit of Buyer a release premium in the (i) if the number of Lots being released is equal to or greater than 25 Lots, then the release premium shall equal $0.00 per Lot. (ii) if the number of Lots being released at the Closing is less than 25 Lots, then the release premium shall equal $3,000.00 per Lot (in addition to the release price). However, if a subsequent Closing or Closings with respect to other Lots occur in the same calendar month, the number of all Lots released in that calendar month shall be aggregated for purposes of this subsection.
Appears in 2 contracts
Sources: Option Agreement, Residential Lot Purchase and Sale Agreement