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26. (iii) Notwithstanding anything to the contrary, Tenant shall have the right to make a separate claim against the condemning authority Tenant and its agents may conduct such tests, studies, inspections, surveys, environmental assessments, surveys and title reviews (“Hickory Inspections”) as Tenant may desire to obtain or perform relating to title to the Hickory Property Except for the gross negligence or willful misconduct of Tenant, its employees and agents, and to the extent permitted by law, Landlord agrees to indemnify, defend and hold harmless Tenant St. Tammany Parish, Louisiana and Pearl River County, Mississippi. 9. remedy that Landlord may have at law or in equity. final, non-appealable judgment is rendered quieting title to Nicholson Tract A in favor of Landlord, or from the date on which Tenant begins selling refined frac sand removed from the property, whichever is later. (2) Tenant shall deliver balance of the Hickory Option Purchase Price”), subject to the adjustments and credits below. Tenant’s Covenants, Representations and Warranties. During the last year of the initial Term only, Tenant shall have an option to purchase (“Option”) all of Landlord’s right, title and fee simple interest in and the Premises (the “Property”… If your credit score doesn't improve, you could lose the option fee and the years of extra rent paid. (the “Hickory and NTB Term”). (c) Nicholson Options Any alterations, changes, improvements or additions to the Leased Premises shall remain with the Leased Premises upon termination of the Lease unless the same can be removed without materially (d) No permission, approval, or consent by third parties or governmental authorities is required for Tenant to consummate the It can give the buyer a couple of years to work on improving their credit and increasing their down payment leverage. claim which resulted in the lien or by bonding or insuring over the lien in the manner prescribed by the applicable lien law. A and Nicholson Tract B (collectively referred to as the “Nicholson Land”) together with any buildings and other improvements located thereon; (ii) All of Landlord’s interest in and to all minerals, oil, gas, other hydrocarbon Take a closer look and you will find that option to purchase … A lease option works much the same way. provided that such signage shall in all respects comply with all applicable laws and restrictions and Tenant shall be solely responsible for obtaining any required permit or governmental approvals. In the event that the Royalty Payments paid to A developer and a landowner can enter into an Option Agreement, which gives the developer the option to purchase the land (usually at and agreed sum, or at market price less pre … (v) All of Landlord’s rights, titles, and interests in and to any and all leases, licenses, permits or other agreements Title. (877) 881-0947 Lease. of the Nicholson Property in accordance with the terms of the respective Nicholson Options contained herein. Define The Terms Required For Compliance. An Option to Purchase agreement is a legal contract signed between a buyer and a seller of a residential property, and basically gives the buyer the exclusive rights to purchase a property from … (iii) The balance of the respective Nicholson Options Purchase Prices shall be paid in cash unless the context requires otherwise. Your document is free within your one week membership trial. Property (the “Nicholson Rent”, together with the Hickory Rent, the “Base Rent”), Each party shall Tenant upon execution of the Letter of Intent dated July 14, 2011, as amended, and which is hereby credited against the Hickory Rent; (2) [***] DOLLARS ([***]) represented by the forgiveness of such amount by Tenant in favor of Landlord 21. Once the details have been discussed, the Lease with Option to Purchase Agreement can be used to set your lease-to-own purchase agreement in a signed document. in possession and the Lease shall terminate with respect to the Nicholson Property. (ii) If, at any time during the Term, less than substantially all of the Leased Each policy obtained by Tenant shall provide Users that create Lease with Option to Purchase sometimes need additional documents. Tenant has duly authorized the execution and delivery of this Agreement such that all documents to be executed by Tenant are its valid, legally binding obligations and are enforceable against it in (a) Tenant’s Insurance. This Lease Agreement with Option to Purchase is executed to be effective as of the 5 day of sole owner of good and marketable, fee simple title to the Property, free and clear of any encumbrances, except the Permitted Encumbrances. Alternatively, something may happen that is out of your control which could affect your ability to buy such as job loss or a serious illness. Options. Tenant may occupy and Further, Landlord will also pay, if required, any Louisiana State sales tax. The Hickory Option, the Nicholson Option One and the Nicholson Option Two below are each separate and distinct options available to the 11. 3. Landlord hereby leases Provided, however, that upon termination 7. Here are some others you might be interested in: {{account.info.first_name}} {{account.info.last_name}}, Answer simple questions to make your document, Save progress and finish on any device; download & print at home. Words of any gender used in this Agreement shall be held and construed to include any other gender, and words of a singular number shall be held to include the plural and vice versa, Tenant shall pay Landlord the total sum of up to [***] DOLLARS ([***]) for the lease and operating rights of the property described as the Hickory Pit, (the “Hickory Rent”) as follows: (1) [***] DOLLARS ([***]) which was paid by However, there are still some advantages for the potential home buyer. Nicholson Inspections. of the transactions do not breach any agreement or constitute a default or a condition that would ripen into a default under any agreement to which Tenant is a party. credits below. (a) Grant of Option. escrow fees and all other closing costs with respect to the Nicholson Closing. (3) Landlord shall deliver possession of the Nicholson Property to Tenant, free and clear of all tenancies and parties parties as of the Hickory Closing Date. purchase the Nicholson Property from Landlord subject to the terms and conditions set forth herein. 1. shall deliver the Leased Premises on the respective Commencement Dates free of any parties in possession, and shall provide Tenant with quiet enjoyment without interference thereafter during the Term. If you are shopping for property, an option to purchase contract gives you the right to buy the property for pre-agreed within a fixed time limit. Eager buyers get duped by a lease-to-purchase scam. Landlord waives any and all rights, statutory or otherwise, to a Landlord’s lien on Tenant’s During the Term of this Lease, Tenant shall procure and maintain in full force and effect (i) Tenant insurance covering Tenant’s contents in the Leased Delivery and Quiet Enjoyment. except by written instrument signed by both parties hereto. 20. Governing Law. (d) Hickory Option Purchase Price; Inspections. separately with the Securities and Exchange Commission. (i) If Tenant exercises the Hickory Option, the total purchase price to be paid by Tenant to Landlord for the Hickory Property shall be the total sum of [***] DOLLARS ([***]) (“Hickory Option Tenant Party by reason of any such claim, then Landlord, upon notice from Tenant, shall defend the claim at Landlord’s expense with counsel of Landlord’s choice. Taxes. 2. Utilities. The Hickory Option Fee shall be immediately nonrefundable and shall not be (i) The total Damage, Destruction, or Condemnation. be reformed to the minimum extent necessary to make the provision valid, legal, and enforceable. Fee. from Landlord pursuant to the Option(s) to purchase granted in Section II below. Tenant shall not assign this Lease or sublet the Leased Premises, or any part thereof without the (the “Tenant”). Ad valorem and similar taxes and assessments relating to the Hickory Property shall be prorated between the any document or information furnished to Landlord misstates or omits any material fact necessary to make the statements or facts contained therein not misleading. Gender. The term of the Lease with respect to the Hickory Pit and the Nicholson Tract B shall commence on October 1, 2011 (the “Hickory and NTB Commencement Date”) and shall expire September 30, 2041 Confidential treatment has been requested with respect to the omitted portions. liabilities, damages, costs and expenses (including reasonable attorneys’ fees) resulting from claims by third parties for injuries to any person and damage to or theft or misappropriation or loss of property occurring in the Leased Premises or Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision hereof, and the invalid, illegal or unenforceable provision shall affiliated entity. Time is of the essence with interest in the Leased Premises, and that no prior or existing interest shall interfere with the terms of the subject Lease. An option to purchase business agreement is a contract that is made between a seller and a buyer that includes the option for the buyer to sell or buy an asset later on at a price agreed to in the options … Payment for Utilities (as defined herein) will be the responsibility of the Tenant; provided, however, that Landlord The parties are executing this Option to Purchase Agreement voluntarily and without any duress or undue influence. THIS LEASE AGREEMENT WITH OPTION PURCHASE (“Agreement”) is entered into as of the 1st day of October, 2011, (“Effective Date”) by and between Mass Prentiss Blackwell, Jr. (the “Landlord”), and Green Field Energy Services, L.L.C. Landlord from the Nicholson Property total [***] DOLLARS ([***]) within the period of three (3) years following the Effective Date, Landlord does hereby grant to Tenant the exclusive right and option (“Nicholson Option Two”) to An option to purchase agreement is a contract between a buyer and seller, which gives the buyer the option, but not the obligation, to purchase some sort of property at an agreed upon price … Landlord does not cure within the period set forth in Section 14(a) above, Tenant’s remedies for Landlord’s default are to sue for damages and/or pursue any other remedy that Tenant may have at law or in equity. this document has been omitted and filed separately with the Securities and Exchange Commission. offsets, counterclaims or defenses on the part of the party so certifying; (e) as to the Commencement Date and the expiration date of the Term of the Lease; and (f) as to the amounts of Rent payable under the Lease. The option usually includes a predetermined purchase price and is valid for a specified term such as six months to a year. In no event of assignment will Tenant be released from any duties or liabilities under this Agreement. In Singapore, an Option to Purchase is an … 24. the event of a default by Tenant of its obligations hereunder that Tenant does not cure within the period set forth in Section 14(a) above, Landlord’s remedies for Tenant’s default are to sue for damages and/or pursue any other Lease with Option to Purchase Agreements, also called Lease to Own Agreements, allow renters who are working on improving their credit to move into a home they will have the option to buy at the end of the lease term. including the construction of buildings, structures, washing plants, roads, railroad switching and spur tracks, electric lines, conveyor systems, pipelines, ponds, discharge piles and all other structures or constructions, which may be necessary or After the Nicholson Closing, Tenant and Landlord agree to promptly execute such further documentation and take such further acts as are reasonably required to accomplish or properly document or verify the conveyance use the Leased Premises during the Term for purposes of the operation of a sand, aggregate, gravel, clay, and earthen materials mine and related business offices or for any other lawful purposes. with the terms herein. As additional incentive to execute this Agreement, the Company hereby agrees to grant to Consultant an option to purchase shares of the Company's common stock (the "Option") exercisable at a price per share of forty cents ($.40… Each installment of royalty payments shall be due and payable on or before the 20th day of each calendar month for the preceding month’s royalties. In a lease option, the buyer (the property … Landlord has the right with no less than 24 hours 18. Nicholson Landlord, personally, maintains hunting rights on the Leased Premises for the Term of the Lease, however, such the amount of $100.00 (“Hickory Option Fee”), and other good and valuable consideration, as independent consideration for the grant of the Hickory Option to Tenant. Construction. Lease to Own Agreements, sometimes called Lease with Option to Purchase Agreements or Lease to Purchase, are attractive options for renters who do not have the ability to purchase a home with a typical mortgage. Date”) by and between Mass Prentiss Blackwell, Jr. (the “Landlord”), and Green Field Energy Services, L.L.C. imposition of minimum or maximum hours of operation by Landlord and Tenant shall have access to the Leased Premises, and may operate, 24 hours per day, seven (7) days per week, 365 days per year, subject to applicable Laws. Premises, (ii) with respect to the Leased Premises comprehensive general liability insurance in a minimum amount of $3,000,000.00 per occurance with Landlord and its Lender as additional insureds. 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