#10590
@001 Enter the name of the business:
@002 Enter the name of the SELLER:
@003 Enter the name of the OPTION HOLDER:
!004 Enter in numerals the amount paid for the option:
@005 Enter the trade name of the business:
@006 Enter the address of the business:
@007/@007/@007/@007 Enter number of months for option:
6 months
9 months
12 months
KEY IN VALUE
@008 Enter assets to be purchased:
@009 Enter the maximum number of days between notice and closing:
!108 Enter the purchase price of business in numerals:
@109/@109 Enter terms for purchase:
cash at time of closing
KEY IN VALUE
@010 Enter agreements which may not be canceled:
#10591/#10592 Part of the option price:
will be credited to purchase price
will not be credited to purchase price
#if#10591
@300/@300/@300/@300 Enter per cent to be applied:
25
30
50
KEY IN VALUE
#endif
#10593/#10594 A broker:
has not be used in transaction
has been used in transaction
#if#10594
@500 Enter name of procuring broker:
@501/@501 Broker will be paid by:
Seller
Buyer
#endif
#10595
#end control section
#10590
/* Para. 10590: Option to buy business */


OPTION TO PURCHASE @001


@002, referred to as SELLER, and @003, referred to as OPTION
HOLDER, agree:


In consideration of $ @004 (!004 dollars), paid by OPTION HOLDER
to SELLER, the receipt of which is acknowledged, the SELLER
grants to OPTION HOLDER, the exclusive option to acquire the
following business: @005, located at @006 for a period of @007
months.


Should the OPTION HOLDER exercise the option, the following
assets will be conveyed to OPTION HOLDER by SELLER:


@008


OPTION HOLDER may exercise the option by written notice to
SELLER, specifying a date for closing which shall be no more than
@009 days after the notice of intention to exercise.



The option price shall be $ @108 (!108 dollars) payable as
follows:


@109


If, prior to exercise of the option, or during the period between
notice of intention to close and closing, any part of the
business shall be destroyed or damaged by fire, theft or other
peril, the option price shall be reduced in a sum sufficient to
compensate OPTION HOLDER for the loss. In the event that there
are insurance proceeds to reconstruct the loss and provide for
business interruption loss, and SELLER assigns the same to OPTION
HOLDER, or SELLER reconstructs the same prior to closing, no
abatement of purchase price shall occur.


During the term of the option, the SELLER shall carry on the
business in the usual and ordinary manner to and including the
closing date of the sale, and will not enter into any agreements
not in the ordinary course of its business. Further, SELLER shall
not enter into any unusual agreements or make unusual
commitments affecting the operation of the business, without
prior approval of OPTION HOLDER.


In no event shall OPTION HOLDER cancel, alter or amend its
obligations under the following agreements, nor shall it fail to
perform the obligations related to the following agreements:


@010


#10591
/* Para. 10591: Percent applied to sales price */


If OPTION HOLDER exercises its right to purchase, then @300 per
cent of the option price shall be applied towards the purchase
price.

#10592
/* Para. 10592: No part applied */


No part of the consideration for the option shall be credited
to the purchase price, and the sums paid for the option
shall be fully earned by the SELLER upon payment.


#10593
/* No broker in option Para. 10593 */


The parties have negotiated this agreement between themselves,
and there are no brokers or agents entitled to compensation. In
the event that any brokers or agents seek compensation herein,
the parties shall each indemnify the other from any damage,
expense including counsel fees, which either may suffer as a
result of the claim of a broker or agent, and the party who is
determined to have breached this representation shall be
responsible for payment of indemnity and the obligation to the
broker or other agent.


#10594
/* Para. 10594: Broker */


The parties acknowledge that @500 acted as procuring broker
herein, and that the broker shall be compensated by @501.


#10595
/* Para. 10595-- Close- option to buy business */


This writing accurately sets forth the agreement between the
parties and this agreement may only be amended in writing signed
by both parties.


Dated: ________________________





_____________________________________________________

@002





_____________________________________________________

@003