Option to Purchase a Business

Option to Purchase a Business Agreement made on the ___ day of __________, 20___, between _______________ of (street address, city, county, state, zip code), referred to herein as Optionor, and ________________ , a corporation organized and existing under the laws of the state of _____________, with its principal office located at (street address, city, county, state, zip code), referred to herein as Optionee. I. Grant of Option In consideration of $_____________ and other good and valuable consideration paid by Optionee, the receipt of which is acknowledged, Optionor grants to Optionee the option (the Option) to acquire the (name or type of business) of Optionor at (street address, city, county, state, zip code) including the real property on which the business is conducted and all fixtures, stock in trade, good will, and other assets of the business, as constituted on the date on which notice of the exercise of the option is served on Optionor. II. Term of Option The Option shall be effective as of the date of this Agreement and shall expire on (date), unless previously exercised by Optionee or its assigns.