Common use of Purchase Price and Terms of Payment Clause in Contracts

Purchase Price and Terms of Payment. The purchase price paid for the property shall be $15,000.00 per surveyed acre. Optionor and Optionee agree that upon the exercise of the Option, the parties shall sign an Agreement for Deed, prepared by Optionee’s attorney and approved by Optionor’s attorney, the exercise of the option shall be contingent upon both parties executing an Agreement for Deed which is acceptable to both Optionor and Optionee. The purchase price shall be determined by survey, the total purchase price shall be the number of surveyed acres times the price per acre as hereinabove set forth.