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1. Parties: Identification of the option grantor (property owner) and option holder, including full legal names and addresses
2. Background: Context of the agreement, relationship between parties, and general purpose of the option
3. Definitions: Key terms used throughout the agreement, including Property, Option Period, Exercise Price, and Option Premium
4. Grant of Option: Clear statement of the option being granted, including the exclusive right to purchase the property
5. Option Premium: Details of the consideration paid for the option, payment terms, and whether it's applicable to the purchase price
6. Option Period: Duration of the option, including start and end dates, and any extension provisions
7. Exercise of Option: Process and requirements for exercising the option, including notice requirements
8. Purchase Price: Specified purchase price or calculation method for the property if option is exercised
9. Property Description: Legal description and details of the property subject to the option
10. Title and Due Diligence: Rights regarding property inspection, title review, and related conditions
11. Representations and Warranties: Standard representations about property ownership, authority to contract, and property condition
12. Assignment: Whether and under what conditions the option may be assigned to third parties
13. Notices: How and where formal notices must be delivered between parties
14. Governing Law: Specification of applicable Canadian provincial law and jurisdiction
15. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability
1. Environmental Matters: Specific provisions regarding environmental inspections and liabilities, used for commercial or industrial properties
2. Development Rights: Rights to conduct development studies or submit planning applications during the option period, used for development properties
3. Financing Conditions: Conditions related to the option holder's ability to secure financing, used when financing is a key consideration
4. Multiple Properties: Special provisions for options covering multiple properties or parcels, used in portfolio deals
5. Right of First Refusal: Additional rights if the owner receives third-party offers during the option period
6. Tenant Rights: Provisions addressing existing tenants' rights, used for leased properties
7. Construction Access: Rights to access the property for construction planning, used for development properties
8. Property Management: Obligations regarding property maintenance during the option period, used for longer option terms
1. Schedule A - Property Description: Detailed legal description of the property, including survey references and parcel numbers
2. Schedule B - Option Premium Payment Terms: Detailed payment schedule and terms for the option premium
3. Schedule C - Permitted Encumbrances: List of accepted liens, easements, or other encumbrances on the property
4. Schedule D - Form of Exercise Notice: Template notice for exercising the option
5. Schedule E - Due Diligence Materials: List of documents and materials to be provided for due diligence
6. Appendix 1 - Property Plans: Site plans, surveys, or architectural drawings of the property
7. Appendix 2 - Environmental Reports: Existing environmental assessments or reports
8. Appendix 3 - Title Documents: Copies of title documents and registered encumbrances
Real Estate
Commercial Property
Residential Property
Industrial Property
Land Development
Construction
Property Investment
Real Estate Investment Trusts (REITs)
Urban Planning
Agriculture (for farmland options)
Retail (for retail spaces)
Hospitality (for hotel properties)
Legal
Real Estate
Property Development
Investment
Acquisitions
Asset Management
Due Diligence
Finance
Risk Management
Corporate Development
Real Estate Lawyer
Property Developer
Real Estate Investment Manager
Land Acquisition Manager
Real Estate Broker
Property Manager
Development Director
Real Estate Portfolio Manager
Legal Counsel
Contract Administrator
Real Estate Analyst
Investment Analyst
Chief Investment Officer
Real Estate Director
Acquisition Specialist
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