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    Sample Right of First Refusal Agreement

    Uploaded by

    epah1925
    This document is a right of first refusal agreement between landowners and a land trust. It gives the land trust the right to match any bona fide offer made to purchase the property. If the land trust does not purchase the property within 45 days of receiving notice of the offer, the right of first refusal lapses. The agreement is binding on successors and assigns of both parties and can be executed in counterparts.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as RTF, PDF, TXT or read online from Scribd

    Sample Right of First Refusal Agreement

    Uploaded by

    epah1925
    184 views3 pages
    This document is a right of first refusal agreement between landowners and a land trust. It gives the land trust the right to match any bona fide offer made to purchase the property. If the land trust does not purchase the property within 45 days of receiving notice of the offer, the right of first refusal lapses. The agreement is binding on successors and assigns of both parties and can be executed in counterparts.

    Original Description:

    ewan

    Original Title

    Refusal New

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    © Attribution Non-Commercial (BY-NC)

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    This document is a right of first refusal agreement between landowners and a land trust. It gives the land trust the right to match any bona fide offer made to purchase the property. If the land trust does not purchase the property within 45 days of receiving notice of the offer, the right of first refusal lapses. The agreement is binding on successors and assigns of both parties and can be executed in counterparts.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    184 views3 pages

    Sample Right of First Refusal Agreement

    Uploaded by

    epah1925
    This document is a right of first refusal agreement between landowners and a land trust. It gives the land trust the right to match any bona fide offer made to purchase the property. If the land trust does not purchase the property within 45 days of receiving notice of the offer, the right of first refusal lapses. The agreement is binding on successors and assigns of both parties and can be executed in counterparts.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    of 3

    Sample Right of First Refusal Agreement

    RIGHT OF FIRST REFUSAL AGREEMENT THIS RIGHT OF FIRST REFUSAL AGREEMENT (this "Agreement"), dated and effective as of the ____ day of __________, 200__, is made by and between MICHAEL AND NANCY LANDOWNER, (the "Landowner") and GENERIC OPEN SPACE LAND TRUST, a Georgia nonprofit corporation (the "Land Trust"). Recitals The Landowner owns certain real property attached hereto and incorporated as more particularly described by this reference, Property). on Exhibit A located in
    Cherokee County, Georgia (the
    The Landowner desires to give, grant, bargain, sell, and convey to Land Trust certain rights to purchase the Property on the terms and subject to the conditions set forth herein.

    Accordingly, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
    1. Right of First Refusal. In the event Landowner shall receive a bona fide offer for the purchase of the Property at anytime after the date hereof [and before the Expiration Date as hereinafter defined], and the offer of purchase shall be acceptable to Landowner, Landowner will not sell the Property or any portion thereof without first offering the Property to Land Trust pursuant to this paragraph. Landowner shall give Land Trust the right to purchase the Property at the price and on the terms of the offer so made. This right shall be extended by Landowner giving written notice of the offer by registered mail to Land Trust, requiring Land Trust to accept the offer in writing and to sign a purchase agreement within forty-five (45) days after the mailing of the notice. In the event that Land Trust does not purchase the Property on the terms set forth above, then the Right of First Refusal granted herein shall lapse. Burden and Benefit. The covenants and agreements contained herein shall be binding upon and inure to the benefit of the successors and assigns of the respective parties hereto. No party may assign this Agreement without the consent of the other party.

    2.

    3.

    Severability of Provisions. Each provision of this Agreement shall be considered severable, and if for any reason any provision that is not essential to the effectuation of the basic purposes of the Agreement is determined to be invalid and contrary to any existing or future law, such invalidity shall not impair the operation of or affect those provisions of this Agreement that are valid. No Continuing Waiver. None of the parties hereto shall be deemed to have waived any rights hereunder unless such waiver shall be in writing and signed by such party. The waiver by any party of any breach of this Agreement shall not operate or be construed to be a waiver of any subsequent breach.
    Governing Law. This Agreement shall be construed and enforced in accordance with the laws of the State of Georgia, without regard to principles of conflicts of laws.

    4.

    5.

    6.

    Binding Agreement. This Agreement shall be binding on the parties hereto, and

    PURCHASING LAND AND EASEMENTS

    307

    Sample Right of First Refusal Agreement

    their heirs, executors, personal representatives, successors and assigns.


    7. Headings. All headings in this Agreement are for convenience of reference only and are not intended to qualify the meaning of any provision of this Agreement.

    8.

    Terminology. All personal pronouns used in this Agreement, whether used in the masculine, feminine, or neuter gender, shall include all other genders, the singular shall include the plural, and vice versa as the context may require. Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original copy, and all of which together shall constitute one agreement binding on all parties hereto, notwithstanding that all the parties shall not have signed the same counterpart.

    9.

    IN W ITNESS WHEREOF, the parties have executed this Right of First Refusal Agreement as of the date first above written. LANDOWNER:

    Michael Landowner Nancy Landowner LAND TRUST: GENERIC OPEN SPACE LAND TRUST, a Georgia nonprofit corporation By: Maggie Loveland, Executive Director [Include proper notorial jurats if parties intend right of first refusal to be recorded in land records]. Include Exhibit A Legal Description

    308

    ACQUIRING LAND AND CONSERVATION EASEMENTS

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