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Land Option Contract
1. Parties: Identification of the option grantor (landowner) and option holder, including full legal names, addresses, and registration numbers if applicable
2. Background: Context of the agreement, including brief description of the property and the parties' intentions
3. Definitions: Definitions of key terms used throughout the agreement, including 'Option Period', 'Option Price', 'Purchase Price', etc.
4. Property Description: Detailed description of the land subject to the option, including cadastral numbers and exact boundaries
5. Grant of Option: Express grant of the option rights, including exclusivity provisions if applicable
6. Option Period: Duration of the option, including start and end dates, and any extension mechanisms
7. Option Price: Amount payable for the option itself, payment terms, and whether it's credited against the purchase price
8. Purchase Price: The price for the land if the option is exercised, including any adjustment mechanisms
9. Exercise of Option: Process and formalities for exercising the option, including notice requirements
10. Completion: Procedures and requirements for completing the purchase if the option is exercised
11. Landowner's Obligations: Obligations of the landowner during the option period, including maintenance and restrictions on dealing with the property
12. Termination: Circumstances under which the agreement can be terminated and consequences of termination
13. Governing Law and Jurisdiction: Confirmation of Danish law as governing law and jurisdiction for disputes
14. Notices: Process for serving formal notices under the agreement
15. Entire Agreement: Standard entire agreement clause confirming this document represents the complete agreement between parties
1. Due Diligence: Rights and process for conducting investigations of the property - include if due diligence is permitted during the option period
2. Planning Conditions: Include if the option exercise is conditional on obtaining specific planning permissions
3. Environmental Conditions: Include if environmental investigations or remediation are relevant to the option exercise
4. Financing Conditions: Include if the option exercise is subject to the buyer obtaining financing
5. Development Obligations: Include if there are specific development requirements post-purchase
6. Right of First Refusal: Include if the option holder has ongoing rights if the initial option is not exercised
7. Assignment: Include if transfer of the option rights to third parties is to be permitted
8. Mortgage Provisions: Include if there are existing mortgages that need to be addressed
1. Property Plan: Detailed plan showing the boundaries of the optioned land
2. Title Documentation: Copy of current title register entries for the property
3. Form of Transfer Deed: Agreed form of transfer document to be used if option is exercised
4. Existing Encumbrances: List of existing rights, restrictions, and encumbrances affecting the property
5. Payment Schedule: Detailed breakdown of option price and purchase price payment structure
6. Due Diligence Information: List of documents and information to be provided for due diligence
7. Planning Documentation: Relevant planning permissions and restrictions affecting the property
8. Environmental Reports: Any existing environmental surveys or reports
Authors
Business Day
Completion
Completion Date
Conditions Precedent
Due Diligence Period
Effective Date
Encumbrances
Environmental Laws
Exercise Notice
Exercise Period
Land Registry
Long Stop Date
Option
Option Fee
Option Period
Permitted Encumbrances
Planning Permission
Property
Purchase Price
Purchaser
Registration Documents
Seller
Title Documents
Transfer Deed
Working Day
Zoning Requirements
Municipal Approvals
Cadastral Number
Development Plan
Environmental Report
Extension Period
Land Parcel
Notice Period
Payment Date
Purchase Rights
Survey Plan
Termination Date
Title Register
Valuation Report
Definitions
Background
Grant of Option
Option Period
Option Fee
Purchase Price
Property Description
Due Diligence
Conditions Precedent
Exercise of Option
Completion Requirements
Title Matters
Representations and Warranties
Property Access
Environmental Compliance
Planning and Zoning
Property Maintenance
Assignment Rights
Transfer Rights
Confidentiality
Force Majeure
Default and Termination
Notices
Costs and Taxes
Entire Agreement
Amendments
Severability
Governing Law
Jurisdiction
Registration Requirements
Insurance
Indemnification
Dispute Resolution
Further Assurance
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