GEORGIA

OPTION AGREEMENT (Real Property)

NOTE: This is NOT the GAR form.

State of Georgia

County of __________

THIS OPTION AGREEMENT is dated this day of , by and

between ("Optionor") and ("Optionee").

FOR AND IN CONSIDERATION of the sum of $ (the "Option Price")this day paid to the undersigned Optionor by the above named Optionee, the receipt and sufficiency of which is hereby acknowledged, Optionor does hereby convey and grant unto Optionee an option, irrevocable for days, to purchase from Optionor the following described tract of land: [here describe land], together with all and singular, the rights, easements, and hereditaments thereunto belonging or in anywise appertaining and all buildings, fences, structures, and any and all other improvements of whatever nature thereon (all of which shall

hereinafter be called the "Property").

The option granted herein is granted upon the following terms and conditions:

1. In the event that the option is exercised by Optionee, this option shall ripen into a contract for sale and purchase without the necessity for any further writing with the following terms and conditions: [here set forth the terms and conditions of sale and purchase, including purchase price, earnest money, time of closing, and all other provisions of a contract].

2. The Option Price of ,$ shall be treated as Earnest Money if the option is exercised and shall be applied or disbursed as Earnest Money in accordance with the terms and conditions set forth in Paragraph 1 above.

[or]

The Option Price of ,$ is to be the consideration paid by Optionee to Optionor for this option granted herein and is non-refundable for any reason, and the Optionor shall be entitled to the Option Price without credit or refund of any nature to the Optionee whether or not the option is exercised, except as follows:

(i) Optionor warrants and represents that he is the sole fee-simple owner of the Property and that he is entitled to grant this option and to convey the Property without lien, encumbrance, claim, or interest of any third party of any nature, except such liens, encumbrances, claims, and interests disclosed in Paragraph 1 above, and that title to the Property is marketable as that term is defined in Paragraph 1 above, and that he has no notice (actual or implied) or knowledge (actual or implied) of any matter which would prevent Optionor from complying with the terms and conditions of this option, including without limitation the terms and conditions of Paragraph 1 above. In the event and whether or not the option is exercised, if one or more of the foregoing warranties and representations should prove to be breached and false, then Optionee shall be entitled to full refund of the Option Price, in addition to any other damages or relief to which Optionee might be entitled.

(ii) In the event that the option is exercised and in the further event that the sale is not consummated because of Optionor's failure, inability, or refusal to perform any of Optionor's covenants in this Option Agreement, including without limitation those in Paragraph 1 above, then Optionee shall be entitled to full refund of the Option Price, in addition to any other damages or relief to which Optionee might be entitled.

3. The option granted and conveyed herein shall be irrevocable for a period of ___days from the date of this Option Agreement. The option period may be extended for one (1) period of days, and if extended, the option shall be irrevocable during the extended period.

4. The option period may be extended as aforesaid by the payment by Optionee to Optionor of the sum of $- , which sum shall then be treated as a part of the Option Price in as full and ample a manner as if paid as the initial Option Price. Said sum shall be accompanied by written notice from Optionee to Optionor that Optionee has elected to extend the option period. Said sum and written notice must be delivered to Optionor no later than 5:00 P.M. on the last day of the initial option period.

5. If not exercised, the option granted herein shall automatically and without notice terminate at 5:00 P.M. on the last day of the initial option period if not extended, or, if extended, at 5:00 P.M. on the last day of the extended option period.

6. The option may be exercised at any time during the option period (initial or extended, whichever is applicable) by written notice of exercise of option delivered by Optionee to Optionor. The notice of exercise of option must be delivered no later than 5:00 P.M. on the last day of the option period (initial or extended, whichever is applicable).

7. Any and all notices required or permitted hereunder (including any and all notices required or permitted under the provisions of Paragraph 1 above, if the option is exercised) shall be delivered to the parties at the following addresses of the parties (which addresses may be changed at any time by written notice of a party to the other):

Optionor:

Optionee:

Personal delivery of a notice by handing it to a party shall constitute delivery to that party under this Agreement.

 Mailing of a notice shall constitute delivery to a party under this Agreement if the mailing is made to that party in a properly addressed envelope (with above address or changed, as applicable) with sufficient postage thereon, by U. S. Certified Mail, Return Receipt Requested, and the date and time of delivery shall be the date and time of mailing.

8. Optionee shall have the right to assign this Option Agreement and the option granted herein or any interest therein to any person or persons, natural or artificial.

[or]

Optionee may not assign this Option Agreement or the option granted herein or any interest therein to any person or persons without the prior written consent of the Optionor.

9. This Option Agreement and the option granted herein shall be binding upon the Optionor and his heirs, personal representatives, successors, and assigns.

WITNESS the hand and seal of the undersigned the day and year first written above.

SEAL) Optionor Signed, sealed and delivered in the presence of

Unofficial Witness

Notary Public