Right of First Refusal - DOC

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					RIGHT OF FIRST REFUSAL TO PURCHASE REAL PROPERTY

THIS RIGHT OF FIRST REFUSAL TO PURCHASE REAL PROPERTY (the “Agreement”) is made this ______ day of ________, 20___, by and between __________________________, (“Purchaser”), whose mailing address is ___________________________, and _____________________, (the “Seller”), whose mailing address is __________________________________. 1. Property

Seller is the owner of real property located in ___________, ___________ County, Ohio, as further described as Exhibit A attached hereto (the “Property”). 2. Right of First Refusal

For Ten Dollars and other good and valuable consideration paid to Seller, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree as follows: A. If, at any time after the date of this Agreement, Seller shall receive any bona fide offer (an “Offer”) from any third party to purchase the Property or any part of the Property and if Seller desires to accept the Offer, Seller shall notify Purchaser in writing of the Offer (“Seller’s Notice”). Seller’s Notice shall contain a copy of the Offer and all other applicable terms and conditions. Purchaser shall then have the right to purchase the Property, or the part which is the subject to the Offer (the whole or that part of the Property being referred to as the “Offer Property”), at the price and on the other terms and conditions set forth in Seller’s Notice, as modified by the terms of this Agreement. Any inconsistency between the terms of the Offer and this Agreement shall be settled in favor of the terms of this Agreement. Purchaser’s right under this Agreement is referred to as the “Right of First Refusal.” B. Purchaser shall exercise the Right of First Refusal, if at all, by providing Seller written notice (“Notice of Exercise”) within ________ (___) days after receipt by Purchaser of Seller’s Notice. If Purchaser does not timely provide Seller with the Notice of Exercise, Seller may sell the Offer Property to such third party on the terms set forth in Seller’s Notice, and the Right of First Refusal shall not apply to any subsequent owner of the Offer Property, provided that
				
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posted:8/6/2009
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pages:5
Description: An agreement which grants a party a right of first refusal to purchase certain property.
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