OPTION TO PURCHASE REAL ESTATE

Non-Exclusive Version A. PROPERTY: The real estate commonly known as: __________________________________________ together with all its improvements. B. PARTIES: The parties to this agreement (Option) are the owner of the Property, ________________ (Seller), hereby referred to as Optionor and ____________________ (Buyer), hereby referred to as Optionee and or assigns C. OPTION TO PURCHASE: It is agreed that Optionee shall have the right (Option) to purchase said property from Optionor payable in cash or by third party financing or in any of the specified methods located in SECTION H. FINANCING at any time during the original term of the Option. D. PERSONAL PROPERTY: Included by the exercising of this option but not limited by, will be all fixed equipment including attached lighting fixtures, mailboxes, hardware, attached mirrors, curtain rods, drapery, TV antennas and satellite dishes, attached grills, awnings, screens, garage door openers and all appliances minus these items: ________________________________________________________________ E. TERM: The Option term shall begin on __________________ and expire on ___________________ (original term). F. CONSIDERATION EARNED TOWARD PURCHASE: If the Option is exercised during its term, all Option Fees paid by Optionee shall be applied towards the purchase price, Optionees closing costs, and/or down payment at Optionees choice. Received today as Option consideration in the amount of: $_______ Initial _______ ________ G. NOTICE TO EXERCISE THE OPTION. Optionee may exercise the Option by giving Optionor 3 days (or more) advanced written notice of Optionees intent to do so.

FINANCING This option may be exercised by any or all of the following INITIALED terms: a) Cash or Third Party Financing: Buyer will pay cash or obtain third party financing such as a mortgage or other loan (s) in the amount of: $___________________________ Initials: Optionor ________ Optionee ________ (Term Accepted) b) Lease Purchase: Optionor will grant buyer the option to purchase the property in the amount of: $______________________________while leasing the property for a ___ month period with payments of $_____________ per month due and payable on the first day of each month with $_________ down as non-refundable option consideration. If this option is exercised by this term b) then this option agreement may be replaced with a new option agreement accompanied by a rental agreement to complete the Lease Purchase transaction. Initials: Optionor ________ Optionee ________ (Term Accepted) c) Land Contract: Buyer may purchase property by Land Contract in the amount of $______________ payable as follows: The amount of $___________as down payment at the time of execution of the Land Contract, the receipt of which is hereby acknowledged, leaving principle balance owed by Optionee of $_______________ together with interest on the unpaid balance payable in monthly installments of $___________beginning on the _________day of ____________ 20___, and on the First day of each and every month thereafter until said balance and interest is paid in full, or until the balloon payment date of: _____________ 20__ whichever event occurs first. The interest on the unpaid balance due hereon shall be ___________ (____%) percent per annum computed monthly, in accordance with a ___________month amortization schedule during the life of this Contract. Initials: Optionor ________ Optionee ________ (Term Accepted) d) Subject to Existing Financing: Optionor will allow Optionee to take the property subject to existing financing for the amount of: $ _____________ Optionor understands that the underlining loan will stay in their (Optionors) name until paid off by Optionee by an agreed upon time and written term, or within _ months from the date of this agreement. Optionee will be obligated to make all payments (loan, taxes, utilities etc) or any other payments agreed upon by Optionor and Optionee and in writing. Initials: Optionor ________ Optionee ________ (Term Accepted) I. ASSIGNMENT

Optionee has full right to assign this agreement to anyone at any time. If Optionee does assign their interest, Optionor will sign a Release of Liability relieving the Optionee From any payments or any further liabilities whatsoever. J. EXTENSION OF OPTION There shall be no extension of the Option unless in writing by all signing parties. K. DEFAULT OF OPTION: If Optionee fails to exercise this option during its term or forfeits it due to default, all Option Fees shall be forfeited and shall be kept by Optionor as complete and liquidated damages. This option to purchase shall apply to and bind the heirs, executors, and administrators of the respective parties herein. L. ACCESS Optionor grants optionee access to the above property for showing to prospective buyers, contractors, or appraisers. Optionor must maintain proper insurance on the property throughout the duration of this agreement. M. MAINTENANCE AND UPKEEP: Until Optionee exercises this option or title is delivered, Optionor agrees to maintain all utilities, appliances and the general good condition of the property unless otherwise in writing and signed by both parties. N. CLOSING. At closing (for cash purchase or 3rd party financing and Seller Financing): A) Seller shall deliver to Buyer a general warranty deed to the property. B) Sellers closing costs will be the cost of obtaining releases of liens and any outstanding utility depts. C) Buyers closing costs will include all costs associated with new financing obtained by Buyer, costs associated with recording new loan and owners title policy. D) Property taxes shall be prorated as of date of closing. E) Any rent payments, condo association fees and interest on loans may be prorated. F) Optionee shall pay for all closing costs if property is taken subject to unless specified in writing.

O. NON-EXCLUSIVE: If Seller should sell, lease or assign their interest of the property secured by this option during the Option term to any other person or party that is not directly

linked or in relation to _______________(Optionee), this contract shall become void upon written proof of that transaction therefore relieving the seller _______________________ (Optionor) from any further involvement of this contract. If said property is sold, leased or assigned by seller to anyone directly related,or brought forth by Optionee or Optionees efforts in securing their own interest in this transaction, such person shall be furnished with the copies of this Agreement and shall agree in writing to be fully bound by the terms with regard to the Buyers rights under this Agreement therefore making this agreement fully exclusive on the Optionees behalf. P. GOVERNING LAW, JURISDICTION AND VENUE: This Agreement will be governed by and interpreted in accordance with the laws of the State of Tennessee without regard to conflict of laws provisions. Any action arising out of this Agreement or the relationship between the parties established herein shall be brought only in the courts of State of Tennessee. The parties agree that they waive any right to seek jurisdiction and venue anywhere outside the state of Tennessee . ____________________________ Seller/Optionor Date _________________________ Buyer/Optionee Date (Authorized Signature)