1. Grant of Option. In consideration of the sum of $_____ paid by optionee to optionors simultaneously with the execution of this agreement, the receipt of which is hereby acknowledged by optionors, optionors hereby grant to optionee or its assigns, the exclusive right to lease, as herein provided, the land owned by the optionors, described on exhibit "A" attached hereto and hereby made a part hereof;

2. Expiration Date. This option shall extend to and expire at 12:00 o'clock midnight on _________[year], and in the event this option shall not be exercised on or before the aforesaid date, this option shall be deemed null and void and of no further force or effect;

3. Abstract of Title. Within 20 days after the date of the exercise of this option, optionors will deliver to optionee an abstract of title prepared by a responsible abstractor showing merchantable title to the real estate in the name of optionors.

4. Notice of Exercise of Option. This option is to be exercised by optionee by written notice signed by optionee and sent by registered mail, prior to time of expiration, to optionors at their address as set forth above, or at such other address as optionors may otherwise furnish optionee, or by personal service of such notice on any of the optionors prior to time of expiration;

5. Failure To Exercise Option. If optionee does not exercise this option as provided above, the consideration set forth in paragraph 1 of this agreement is the full and complete consideration and the parties hereto shall have no further rights or claims against each other;

6. Lease. When and if this option is timely exercised, the terms, conditions, covenants, and provisions of the form of lease attached hereto as exhibit "B" shall constitute the total agreement of the parties in the letting of the property described in exhibit "A";

7. Exercise of Option. If this option is exercised as herein provided, optionors and optionee will respectively as lessors and lessee perform the obligations set forth in the aforesaid form of lease to be performed by the lessors and the lessee therein;

8. Notices. All notices to be given or delivered under or pursuant to this option shall be addressed to optionors at _________[address], and to the optionee at _________[address], or at any other address designated in writing by optionee;

9. Merchantable Title. Optionors warrant and represent that they have the authority to grant this option and that they now hold title to the real property described in exhibit "A";

10. Oral Modification. This agreement may not be changed, modified or terminated orally but only by a written instrument of equal formality signed by the parties hereto;

11. Default on Part of Optionee. Should optionee timely exercise this option and thereafter fail to execute the terms of the aforesaid lease, the sum of $_____ shall constitute liquidated damages.

12. Assignment. This option and all rights hereunder shall be assignable only with the prior written consent of optionors, which consent shall not be unreasonably withheld.

13. Damages. The parties agree that damages will be inadequate, and therefore the court having jurisdiction herein may award specific performance in addition to damages, and any and all other remedies allowed by law.

14. Binding Effect. The agreements in this option are to apply to and bind the heirs, executors, administrators, successors, personal representatives and assigns of the respective parties hereto.