Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and ▇▇▇▇▇'s agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If ▇▇▇▇▇ gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any ▇▇▇▇▇▇▇ money will be refunded to essence for this paragraph and strict compliance with the time for performance is required.
Appears in 11 contracts
Sources: One to Four Family Residential Contract (Resale), One to Four Family Residential Contract (Resale), Farm and Ranch Contract
Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and ▇▇▇▇▇'s agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If ▇▇▇▇▇ Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any ▇▇▇▇▇▇▇ money will be refunded to Buyer. The Option Fee ❑will ❑will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required.. Initialed for identification by ▇▇▇▇▇ and Seller
Appears in 4 contracts
Sources: One to Four Family Residential Contract (Resale), One to Four Family Residential Contract (Resale), One to Four Family Residential Contract (Resale)
Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and ▇▇▇▇▇'s agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If ▇▇▇▇▇ gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any ▇▇▇▇▇▇▇ money will be refunded to essence for this paragraph and strict compliance with the time for performance is required.]
Appears in 2 contracts
Sources: One to Four Family Residential Contract (Resale), One to Four Family Residential Contract (Resale)
Termination Option. For nominal consideration, the receipt of w hich is hereby acknowledged by Seller, and ▇▇▇▇▇'s agreement to pay Seller $ (Option Fee) within 3 days after the Effective Date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If ▇▇▇▇▇ Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any ▇▇▇▇▇▇▇ money will be refunded to essence for this paragraph and strict compliance with the time for performance is required.]
Appears in 1 contract