Option to Purchase
Land
KNOW ALL MEN BY THESE PRESENTS: That the undersigned
______________________ _____________________________________ and
____________________________ his wife for and in consideration of One Dollar
($1.00), paid by the United States of America, hereinafter referred to as the
Government, the receipt whereof is hereby acknowledged, hereby agrees for _______________________,
heirs, executors and assigns, to sell and convey to the Government for the
consideration of _____________________________ that certain piece or parcel of
land situated in the _________________________________________________________________
____________________________________, more particularly described as follows:
Upon
exercise of this option by the Government, the undersigned agrees to pay to R.
Newton McDowell a commission of five per cent (5%) of the gross sales price as
full payment for the services of said R. Newton McDowell in procuring such
sale, preparing the deed or deeds for the conveyance of said land and arranging
for settlement and closing of the transaction.
The
undersigned hereby grants to the Government the right of immediate occupancy
and use of the land for any purpose whatsoever from and after the acceptance by
the Government of this option, which acceptance shall be within thirty (30)
days after date hereof, until such time as said land is conveyed to the Government
by the undersigned, the title approved by the Attorney General of the United
States as required by law, and the agreed purchase price paid by the Government
to the undersigned.
The
undersigned further agrees that ____________ will execute and deliver a general
warranty deed conveying the fee simple title to the above described land to the
United States of America, free and clear of all taxes, liens and encumbrances
of every kind and character, including stamps, taxes and etc.; and the
undersigned will also furnish, without cost to the Government, a certificate of
title of The Kansas City Title Insurance Company to the said land satisfactory
to the Attorney General of the United States and after examination of the deed
and certificate of title by the Attorney General, the undersigned will have
said deed recorded and will furnish a certificate of title of the said The
Kansas City Title Insurance Company showing title to be good and marketable as
vested in the United States of America, free of all liens and encumbrances. In
the event the title shall be unmerchantable, the undersigned agrees to make
said title merchantable at his own expense.
Upon
furnishing of final certificate of title as above showing title to be vested in
the United States of America, the agreed purchase price above mentioned will be
paid by the Government to the undersigned.
If for
any reason the title to the land is not approved by the Attorney General, the
Government will proceed to acquire the land by condemnation proceedings instituted
in the District Court of the United States in which said property is located,
under a consent verdict fixing the award at the agreed valuation and in
accordance with all the terms and provisions of this option and will upon
filing its petition in such proceedings deposit said agreed purchase price with
the clerk of said court, same to be disbursed by said officer pursuant to the
decree entered in such condemnation proceedings.
The
occupancy and use of the land by the Government as granted aforesaid shall not
be interrupted, but shall continue to be enjoyed by the Government throughout
the pendency of said condemnation proceedings.
THIS OPTION
is executed in triplicate at ____________________________________
this ____________ day of _________________________
19____.
_____________________________________
_____________________________________
Witness:
_____________________________________ _____________________________________
_____________________________________ _____________________________________
Accepted
by and on behalf of the United States of America this ______________ day of
_________________________ 19____.
_____________________________________
