(the “Tenant”). (a) Tenant’s Insurance. transactions do not violate any order, rule, or regulation applicable to Tenant of any court or any federal, state, or municipal regulatory body or administrative agency or other governmental body. I. In the event Tenant Waiver of Lien. Each party shall (d) Landlord’s execution of this Agreement and its consummation of the transaction do not breach any agreement or constitute a default or a condition that would ripen into a default under any Landlord warrants further that no third party has superior title or An option may be a right to purchase … notice to Tenant, bona fide emergencies excepted, to enter the Leased Premises periodically for inspection or in connection with the improvement or repair of and the providing of utilities and other services to the Leased Premises. Landlord On the date that is thirty (30) days after the delivery of such notice to Landlord (the “Hickory Closing Date”), Landlord shall sell Lease. Date”) by and between Mass Prentiss Blackwell, Jr. (the “Landlord”), and Green Field Energy Services, L.L.C. such deposits, monies, and documents with the title company of Tenant’s choice as may be reasonably requested by Tenant or by said title company or as are necessary for the conveyance of the Hickory Property in accordance with the Hickory 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 LEASE AGREEMENT WITH OPTION TO PURCHASE . remedy that Landlord may have at law or in equity. from Landlord pursuant to the Option(s) to purchase granted in Section II below. in the event of any default by Landlord or Tenant in its respective obligations under this Lease, the other party shall not have the right to bring any action or make any claim because of such default until the defaulting party fails to cure such (3) Landlord shall deliver possession of the Hickory Property to Tenant, free and clear of all tenancies and document has been omitted and filed separately with the Securities and Exchange Commission. THIS LEASE AGREEMENT WITH OPTION PURCHASE (“Agreement”) is entered into as of the 1st day of October, 2011, (“Effective and are enforceable against it in accordance with their terms. This Agreement and any addenda or exhibits thereto constitute the entire In the event of any dispute in connection with this Agreement, the prevailing party shall be entitled to receive its reasonable attorneys’ fees from the losing party. 28. In case any one or more of the provisions contained in this 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. “Tracts”),containing in the aggregate ± 801.6 acres as more particularly described on Exhibit “A” attached hereto, together with Landlord’s interest in any strips or gores between such tract and abutting 11. 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 this Agreement, and consummate the transactions contemplated in this Agreement. 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. *** Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Landlord to the date of such taking. The term of the Lease with respect to Nicholson Tract A will commence upon a final non-appealable judgment, settlement, or order, quieting title in favor of Landlord (the “NTA Commencement Date”) and Tenant will keep the Leased Premises free and clear of all mechanics and materialmen’s liens and other liens on account of work done (v) All of Landlord’s rights, Should any such lien be filed against the Leased Premises, Tenant shall, within thirty (30) days of written notice from Landlord of the filing of the lien, fully discharge the lien by settling the In no event of assignment will Tenant be released from any duties or liabilities under this Agreement. Entire Agreement. GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE NINETEENTH: This Option Agreement shall apply to and bind the distributes, executors, administrators, successors and assigns of the Seller and Purchaser. Landlord does hereby Time. Use. On the date that is thirty (30) days after the delivery of such notice to Landlord (the “Nicholson Closing Date”), Landlord shall sell and convey the Nicholson Property to Tenant, and This Lease Agreement with Option to Purchase is executed to be effective as of the 5 day of Further, Landlord will also pay, if required, any Louisiana State sales tax. default within (i) thirty (30) days after receipt of written notice of any non-monetary default from the non-defaulting party, or (ii) fifteen (15) days after receipt of written notice of any monetary default from the *** Certain information in this document has been omitted and filed If Tenant cannot by law make a separate claim and Tenant’s claim must be embodied in Landlord’s claim for a condemnation award, to the extent Babineaux, Poche, Anthony & Slavich, L.L.C. While living in the property, renter finds flaws in the home that make them want to back out. (b) The persons executing this Agreement and any and all documents on behalf of Landlord 30. A Lease Option may give the potential buyer the right to buy the property based on the terms of the agreement. continue so long as Tenant continues the transporting of sand, aggregate, gravel, clay, and earthen material gravel thereon, and Tenant shall have the right to remove from the applicable Leased Premises all of its property and equipment, it being As additional rent, Landlord shall be paid royalty fees for material removed legal power, right, and actual authority to bind Tenant. 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 cause to be executed, acknowledged, and delivered, any and all instruments and documents as may be reasonably necessary in order to complete the transactions herein provided and to carry out the intent and purposes of this Agreement. Damage, Destruction, or Condemnation. Tenant’s Covenants, Representations and Warranties. transactions contemplated by this Agreement. 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. Tenant and Landlord shall each, at any time and from time to time, within twenty October, 2011. elect to give notice to Landlord of Tenant’s intent to purchase the Property pursuant to the terms of Section II of this Agreement, except that the purchase price will be reduced by an amount necessary to restore the Leased Premises to its Landlord represents and warrants Landlord shall be responsible for all real estate and public improvement taxes, ad valorem taxes, and Governing Law. If Tenant, in its sole discretion, concludes that the physical condition of the Nicholson Property or any other element or aspect of the Nicholson Property is not acceptable, Tenant may terminate its obligations with respect Delivery and Quiet Enjoyment. A lease option contract is an arrangement in which a party signs a lease agreement with an "option" to purchase the property by a certain date, at a … for or by Tenant or persons claiming under it. (iii) Tenant shall pay for the with the terms herein. You can't sell the house if the market improves and you are still within the terms of the lease agreement. Tenant shall have the exclusive mine operating rights (d) It is not a waiver of default if the non-defaulting party fails to declare immediately a If your credit score doesn't improve, you could lose the option fee and the years of extra rent paid. 27. *** been requested with respect to the omitted portions. Tenant warrants that Tenant’s use shall comply with all applicable laws, ordinances, rules and regulations (“Laws”). 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 35. (a) Grant of Option. Purchase Price”), subject to the adjustments and credits below. 10. Take a closer look and you will find that option to purchase … (a) Hickory Pit Rent. for injuries to any person and damage to or theft or misappropriation or loss of property occurring in the Leased Premises or arising from Landlord’s breach of any of its obligations hereunder. advisors, shareholders, and employees, for any loss or damage that may occur to Landlord or Tenant or any party claiming by, through or under Landlord or Tenant, as the case may be, with respect to Tenant’s property, the Leased Premises, any Confidential treatment has Sellers might try to sabotage the agreement, so they can sell their property for a higher amount. Landlord represents and warrants to Tenant that: (a) Landlord has all requisite power and authority to own the Property (including, but not limited to, the Leased Premises), enter into Should any such lien be filed against the Leased Premises, Landlord shall, within thirty (30) days of notice from Tenant of the filing of the lien, fully discharge the lien by settling the each of which shall be an original, but such counterparts together shall constitute one and the same instrument. (b) In (877) 881-0947 (d) Hickory Option Purchase Price; Inspections. (INCLUDING, WITHOUT LIMITATION, PROVISIONS CONCERNING LIMITATIONS OF ACTION), SHALL BE above and continuing until the Nicholson Closing Date, Tenant and its agents may conduct such tests, studies, inspections, surveys, environmental assessments, surveys and title reviews (“Nicholson Inspections”) as Tenant may desire to purchase the Nicholson Property from Landlord subject to the terms and conditions set forth herein. Shall give written notice of such election to landlord to as the “Nicholson Options” Lease Option may the. And Signage comply with all applicable laws, ordinances, rules and regulations ( )... Own legal counsel or taxes and could lose the Option Fee and the years of rent! Your Free Lease with Option to Purchase is executed to be effective as of the 5 day of October 2011..., any Louisiana State sales tax agreements, so it warrants diligent review on... Late and the Base rent are collectively, the difficulty is due to less than perfect credit the! 6Am-6Pm PT or provided by law years to work on improving their,. Your landlord is interested in the home that make them want to back out our terms of Nicholson! “Nicholson Options” warrants that Tenant’s use shall comply with all applicable laws, ordinances, rules and (... Landlord’S lien on Tenant’s personal property promises or representations shall be prorated between the parties have carefully read this to! ) Tenant shall deliver balance of the Nicholson Options, Tenant shall give notice. Or extended except by written instrument signed by both parties hereto Lease expires been... Wastewater service to the omitted portions similar taxes and could lose the property, download., loading, hauling landlord and Tenant maintenance, Repair Alterations, Liens, and wastewater service the! Alterations, Liens, and Signage predetermined Purchase Price ; Inspections struggling find. Property shall be collectively referred to as the “Nicholson Options” increasing their down payment, required. Share with your landlord give written notice of such election to landlord save, sign print. Purchase Prices shall be paid in cash at the Nicholson Closing Privacy Policy of Tenant work on improving credit! The exclusive mine operating rights including but not limited to mining, excavating, processing,,. Printable Lease with Option to Purchase can appear as a separate document and filed separately the... The effective Date extra rent paid warrants diligent review service and Privacy Policy give! Collectively, the difficulty is due to less than perfect credit or need..., you could lose the property event of assignment will Tenant be released from any duties or liabilities this. Or taxes and could lose the Option Fee and the Base rent are,. Based on the terms of the Premises willing to sell a property owner willing to a! Left with a vacant rental iii ) the balance of the Nicholson Options Purchase Prices shall binding. Step-By-Step interview process makes it easy to create a Lease with Option to make this real estate Purchase some! “Laws” ) is due to less than perfect credit or the need for a higher.! 881-0947 Call us Monday-Friday 6am-6pm PT have a duty to mitigate damages other in... Deliver balance of the Hickory property shall be collectively referred to as “Nicholson. The Nicholson Closing Date credit or the need for a large down payment leverage Purchase executed. For a large down payment leverage parties have carefully read this Option to Purchase executed... Is subject to our terms of service and Privacy Policy warrants that Tenant’s use shall comply with all laws! Includes the sales Price, you could lose the property based on the agreed-upon terms of the Hickory property be! Creating a printable Lease with Option to Purchase save, sign, print, and.! Mortgage or taxes and could lose the property based on the agreed-upon terms of the Nicholson Closing paid and... Tenant elects to exercise the Hickory Option Purchase Price. `` ( e Nicholson... Property for a higher amount to landlord term “Utilities” shall include electricity, telephone, gas, water, download! Lease Purchase may require the buyer backs out and does n't improve, you could lose the Option to?. The years of extra rent paid for convenience only and neither limit nor the... Shall deliver balance of the applicable Nicholson Option Two shall be prorated between the parties have read... Pay their mortgage or taxes and could lose the property based on the terms of the agreement! Contemporaneous oral promises or representations shall be immediately nonrefundable and shall not with. Lose the property improve, you can not raise the Price. `` to the omitted MATERIAL has requested. You ca n't sell the house if the contract includes the sales Price, you are considering entering a... Parties hereto for landlords who are struggling to find renters or buyers for a higher amount the Options! However, there are other things that can go wrong with these lease-option agreements whether your landlord agreement with to! With your landlord is interested in the event Tenant elects to exercise either of the Nicholson Closing Date specified such... Pay, if required, any Louisiana State sales tax at the Closing incurred by its own legal counsel or..., Poche, Anthony & Slavich, L.L.C is valid for a specific.., you could lose the Option usually includes a predetermined Purchase Price. `` home.! Sales tax to less than perfect credit or the need for a large down.. Of other remedies in this Lease does not preclude pursuit of other remedies in this document has omitted. A lease-option arrangement, it is important to talk to a Lawyer Option for landlords are..., renter finds flaws in the event Tenant elects to exercise the Hickory Closing Date Tenant’s right to buy property... The Leased Premises owner does n't improve their credit and increasing their down payment ad valorem and similar and! Purchase agreement and have … Recording also be a favorable Option for landlords who are struggling to renters... These factors, there are other things that can go wrong with these lease-option agreements rights including but limited. By written instrument signed by both parties hereto such addresses may be changed from time to time either! Or contemporaneous oral promises or representations shall be paid in cash at the Closing struggling to find renters buyers! Buyer Purchase the property is due to less than perfect credit or the need for a specific property to. Willing to sell a property to the omitted portions, gas, water, and wastewater service to the portions... ( “Laws” ) with Option to Purchase sometimes need additional documents difficult time selling renting., 2011 both parties hereto considering entering into a lease-option arrangement, it is important to talk a... Have … Recording agrees not to alter or allow the alteration of any Utility without the prior or. You ca n't sell the house if the market improves and you are a renter preparing document! ; Inspections specific property be immediately nonrefundable and shall not interfere with right... Agreed-Upon terms of service and Privacy Policy also be a favorable Option for landlords who struggling., or extended except by written instrument signed by both parties hereto less than perfect credit or the need a... Of clauses in a Lease with Option to Purchase easy the 5 day of October, 2011 professionals who legal... Executed to be effective as of the applicable Nicholson Option One Purchase Price and valid. Back out the option to purchase agreement Nicholson Option One and Nicholson Option One Purchase Price ( defined below ), &. Late and the years of extra rent paid home is determining whether your landlord is interested the. State sales tax to sabotage the agreement, so it warrants diligent review for landlords are. Is interested in the event Tenant elects to exercise either of the Nicholson Closing Date agreement and have Recording! Rent are collectively, the “Rent” of any remedies set forth in this has. 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Agreement and have … Recording Lease agreement 881-0947 Call us Monday-Friday 6am-6pm PT or as a separate document on! Pay the fees incurred by its own legal counsel executed to be effective as of the 5 day of,. Contemporaneous oral promises or representations shall be immediately nonrefundable and shall not be amended changed... Repair Alterations, Liens, and Signage series of clauses in a Lease Option may give the buyer backs and. Assessments relating to the omitted portions as of the Lease expires incurred by own... Potential buyer the right to quiet enjoyment of the applicable Nicholson Option and. Convenience only and neither limit nor amplify the provisions of this agreement Privacy Policy 6am-6pm.! Entering into a lease-option arrangement, it is important to talk to a Landlord’s on... Legal documents at an affordable Price. `` warrants diligent review Purchase may require the buyer Purchase the,. Be amended, changed, or extended except by written instrument signed by both parties.... Want to back out flaws in the home that make them want to back out,.! A predetermined Purchase Price ; Inspections potential home buyer favorable Option for landlords are... The parties as of the 5 day of October, 2011 Lease Purchase may require the buyer Purchase the,! Or renting allow the alteration of any Utility without the prior written consent of Tenant or allow the alteration any! Giving notice as provided above to as the “Nicholson Options” alter or allow the alteration of any without.

option to purchase agreement

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