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Mississippi Option to License Agreement

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                             This Option to License Agreement provides an individual or company a time-limited right to
                             obtain a full license agreement by exercising the option. These agreements are typically
                             used in situations where the individual or company needs to conduct further research and
                             development to evaluate the technology prior to entering into a full license agreement.
                             During the option period, the individual or company has an exclusive opportunity to
                             understand the technology and its market potential. At any time during the option period, a
                             formal license can be signed. This document is useful to an individual or company located
                             in Mississippi that is interested in acquiring intellectual property rights, but needs additional
                             time to conduct research.
             ®




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     NOTICE: Not For Use Where Seller Owns Fee Simple Title to Land Beneath Unit

               REAL ESTATE PURCHASE CONTRACT (CONDOMINIUM)

State of Mississippi

County of __________________ [Instruction: Insert the County]

1. PARTIES

   ________________________ [Instruction: Insert the name of seller] (hereinafter “Seller”)
   agrees to sell and convey to ________________________ [Instruction: Insert the name of
   purchaser] (hereinafter “Purchaser”) and Purchaser agrees to buy from Seller the property
   described herein under Section 2 titled Property and Condominium Documents. For the
   purpose of this contract, Seller and Purchaser may individually be referred to as “Party” or
   collectively as the “Parties”.

2. PROPERTY AND CONDOMINIUM DOCUMENTS

   a. The condominium unit, improvements, fittings, fixtures, and accessories described below
      are collectively referred to as the “Property”.

       i.      CONDOMINIUM UNIT

               Unit ____________________ [Instruction: Insert the name of the unit], in
               building ________________________ [Instruction: Insert the name of the
               building], of ________________________ [Instruction: Insert the name of the
               condominium         project],      a    condominium       project,    located     at
               ______________________________ [Instruction: Insert the address of the
               unit], City of ______________ [Instruction: Insert the city], County of
               ___________________ [Instruction: Insert the county], State of Mississippi,
               described in the official records in said county; together with such unit's
               undivided interest in the common elements designated by the declaration,
               including those areas reserved as limited common elements appurtenant to the
               unit and such other rights to use the common elements which have been
               specifically assigned to the unit in any other manner. Parking areas assigned to the
               unit are:

               __________________________________________________________________
               __________________________________________________________________
               ______

          
				
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Description: This Option to License Agreement provides an individual or company a time-limited right to obtain a full license agreement by exercising the option. These agreements are typically used in situations where the individual or company needs to conduct further research and development to evaluate the technology prior to entering into a full license agreement. During the option period, the individual or company has an exclusive opportunity to understand the technology and its market potential. At any time during the option period, a formal license can be signed. This document is useful to an individual or company located in Mississippi that is interested in acquiring intellectual property rights, but needs additional time to conduct research.
This document is also part of a package Essential Mississippi Legal Documents 142 Documents Included