Option to Buy Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

OPTION TO BUY AGREEMENT

This Option to Buy Agreement (hereinafter referred to as 'Agreement') is made and entered into on this {{date}} day of {{month}}, {{year}}, by and between:

**{{option_grantor_name}}** (hereinafter referred to as 'Grantor'), with identification number {{grantor_id_number}}, residing at {{grantor_address}}, and

**{{option_holder_name}}** (hereinafter referred to as 'Holder'), with identification number {{holder_id_number}}, residing at {{holder_address}}.

1. GRANT OF OPTION

The Grantor hereby grants to the Holder an exclusive option to purchase the following property/asset (hereinafter referred to as 'the Asset'):

**Description of Asset:** {{asset_description}}

**Location of Asset:** {{asset_location}}

**Serial/Registration Number (if applicable):** {{asset_serial_number}}

2. OPTION PERIOD

This option shall commence on {{start_date}} and shall remain open for a period of {{number_of_days_or_months}} ({{duration_type}}) until {{end_date}} (hereinafter referred to as 'Option Period'). The Holder may exercise this option at any time during the Option Period.

3. PURCHASE PRICE

The agreed-upon purchase price for the Asset shall be {{currency}} {{purchase_price}} ({{purchase_price_words}}). This price shall be fixed for the duration of the Option Period.

4. OPTION FEE

In consideration for the grant of this option, the Holder shall pay a non-refundable option fee of {{currency}} {{option_fee}} ({{option_fee_words}}) to the Grantor upon the signing of this Agreement. This option fee shall {{be_deducted_from_purchase_price / not_be_deducted_from_purchase_price}} if the option is exercised.

5. EXERCISE OF OPTION

The Holder may exercise this option by giving written notice to the Grantor at {{grantor_notice_address}} before the expiration of the Option Period. The notice shall clearly state the Holder's intention to purchase the Asset.

6. CLOSING AND TRANSFER

Upon the valid exercise of this option, the parties shall execute a definitive Sale Agreement within {{number_of_days}} days of the exercise notice. The transfer of ownership and payment of the purchase price shall occur on {{closing_date}} at {{closing_location}}.

7. GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with the laws of {{country_name}}.

Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of {{city_name}}, {{country_name}}.

8. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the parties and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

Signatures

IN WITNESS WHEREOF, the parties have executed this Agreement on the date first above written.

___________________________

Grantor: {{option_grantor_name}}

Date: {{grantor_signature_date}}

___________________________

Holder: {{option_holder_name}}

Date: {{holder_signature_date}}

Witness 1: ___________________________

Name: {{witness_1_name}}

ID Number: {{witness_1_id_number}}

Witness 2: ___________________________

Name: {{witness_2_name}}

ID Number: {{witness_2_id_number}}