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PREPARED BY AND RECORDING
REQUESTED BY: Kristy Woodyard
RECEIVED 10/20/2005 at 3:57 PM
RECEIVING # 913018
BOOK: 602 PAGE: 73
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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WHEN RECORDED MAIL TO:
Honey Development, LLC
Attn: Kristy Woodyard
8101 East Prentice Avenue, #510
Greenwood Village, CO 80 III
(Space above this line is for recorder's use)
OPTION TO PURCHASE REAL PROPERTY
This Option to Purchase Real Property is entered into this October 14, 2005, by
and between Honey Development, LLC, a Colorado limited liability company
("Optionor"), and John E. Hales, Jr. and Susan A. Hales, Trustees of John E. Hales, Jr.
Trust dated December 8, 1998, an individual ("Optionee").
RECITALS
WHEREAS, Optionor is Owner of certain real property located in the County of
Lincoln, State of Wyoming, commonly known as Plat 13, Lot 74, Star Valley Ranch
Subdivision, Thayne, WYand more particularly described on the Exhibit "A" attached
hereto (the "Property").
WHEREAS, Optionee desires to obtain an option to purchase the Property, and
Optionor has agreed to grant an option to purchase the Property, on the terms and
conditions set forth below.
NOW, THEREFORE, based upon the mutual terms, covenants, and conditions
stated in this Option, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, THE PARTIES HERETO HEREBY
AGREE AS FOLLOWS:
1. OPTION. Optionor grants to Optionee the exclusive right to purchase the
Property from Optionor, subject to the following conditions:
1.1. In consideration for the granting of this Option, Optionee shall pay
to Optionor the sum of $1 ,000.00, payable upon the execution of this Option;
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1.2. Optionee shall provide written notice to Optionor of on or before
September 11, 2006 Optionee's intent to purchase the Property upon the terms and
conditions herein. In the event the option is exercised, closing of the sale shall be within
5 days of the date notice of exercise is given to Optionor, or as soon thereafter as
practicable but in any event not later than October 11, 2006. Optionor and Optionee shall
mutually agree upon the location to hold the closing, and upon the hiring of an attorney,
escrow or title company to serve as closing agent. Optionee shall bear all costs of
closing, including the acquisition of a title report and the establishment of an escrow.
2. SALE: The terms of the sale shall'be as follows:
2.1 Optionor convey its interest in the real property to Optionee, via
warranty deed or other appropriate doeument(s) of conveyance;
2.2 Optionee shall pay to Optionor the sum of$36,OOO.00, plus any out
of pocket costs for maintenance, improvements, and closing costs incurred by Optionor
between option date and exercise of option. Total purchase price will be due upon
closing of the transfer from Optionor to Optionee;
2.3 As part of the payment of the option price, Optionee shall assume
all underlying encumbrances or debts secured against the Property and shall save and
hold harmless Optionor from any ongoing obligations related to the same. Optionee shall
bear the cost of all assumption fees and any other expenses related to the transfer of the
Property .
3. NO FUTURE ENCUMBRANCES: After the date hereof, Optionor shall
not in any manner further encumber, lease, or convey any interest in the Property without
the prior written consent of Optionee.
4. EXTENSIONS: This option may not be extended.
5. BINDING EFFECT: This option shall be binding upon the heirs,
successors and assigns of the parties hereto.
6. ATTORNEYS FEES: In case suit or action is instituted to enforce any of
the terms of this agreement, the losing party agrees to pay the prevailing party such sums
as the court may deem reasonable as attorney fees, including in the event of appeal,
together with costs and disbursements as provided for by statute.
7. ENTIRE AGREEMENT: This document is the entire and complete
understanding of the parties with respect to the transaction contemplated herein. It
supersedes and replaces all prior and contemporaneous agreements, understandings,
representations and statements, both written and oral, whether between the parties or their
representatives.
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County of
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STATE OF COLORADO
The foregoing instrument was acknowledged before me this la--tt- day of October, 2005,
by Honey Development, LLC, through Ventry Investments, LLC, its Sole Member, Michael
Eloranto, Corporate Counsel.
KRISTY WOODYARD
NOTARY PUBLIC
STATE OF COLORADO
My Commission Expires 01/08/2008
rint Name
otary Public for
.. .
y commISSIOn expIres:
STATE OF l::)j.¿ta.,h£T»ltL
County of tJ c..oùC1..r\d
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)ss.
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The foregoing instrument was acknowledged before me this J ~~ day of 0c10 hef ,
2005, by John E. Hales, Jr., Trustee of ohn E. Hales, Jr. Trust dated December 8, 1998.
E: Q.nS
Print Name
Notary Public for
My commission expires:_M(),f~ 6,2.0DQ
OFFICIAL SEAL
Donna Evans
Commission # 01003139
ExpIres March 5, 2009
STATE OF QJl..t. a...h IJ'11( t1-
County of ~~o..n d
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~O::~l(þ
PUBLIC
II ~NO FOR
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The foregoing instrument was acknowledged before me this 12~ day of C:c:b6.r,
2005, by Susan A. Hales, Trustee of Jo E. Hales, Jr. Trust dated December 8, 1998.
~
Print Name ':J I')
Notary Public for
My commission expires: Uo.t~ 5. 2.0oq
~O.1~l(þ
PUBLIC
IH IoHO f!IR
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OFFICIAL SEAL
Donna Evans
Commission # 01 003139
ExpIres March 5. 2009