This option to allow the buyer, ___________________, to secure a loan covenant shall be made by ______________________ for the amount of ______________ ($__________) with interest not to exceed ________ percent per annum for the purchase of the following property: ________________________________________________________________.

It is hereby determined that the buyer’s efforts to secure the loan covenant make up a part of the consideration for this option. if a loan cannot be processed and obtained any subsequent down payment will be refunded by _________________________________.

___________________________ ___________________ ________________

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___________________________ ___________________ ________________

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