<html><body><div style="color:#000; background-color:#fff; font-family:HelveticaNeue, Helvetica Neue, Helvetica, Arial, Lucida Grande, sans-serif;font-size:14px"><div><span></span></div><div></div><div>Hi Arlene,</div><div><br></div><div dir="ltr">I would argue that the first contract is not actually an exercise of the option at all, but just a contractual agreement for sale and purchase. Since the Lease allows for the exercise of the option only during a specific time period and since the first contract was not executed during that specific time period, I feel the Lessee could still exercise the option (so long as it is done within the option period) even if the first contract falls through. </div><div dir="ltr"><br></div><div id="yui_3_16_0_1_1435146197030_4349" dir="ltr">Cary</div><div class="signature" id="yui_3_16_0_1_1435146197030_4064"><div id="yui_3_16_0_1_1435146197030_4063"><font color="#0000ff" face="bookman old style, new york, times, serif" size="2"><strong>Law Offices of Cary P. Sabol</strong></font><div><font face="bookman old style, new york, times, serif"><strong><font color="#0000ff" size="2">P.O. 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Thank you for your cooperation.</font></font></font></span></div></div></div></font><div><div><div class="MsoNormal"></div></div></div></div><br> <div id="yui_3_16_0_1_1435146197030_4364" style="font-family: HelveticaNeue, Helvetica Neue, Helvetica, Arial, Lucida Grande, sans-serif; font-size: 14px;"> <div id="yui_3_16_0_1_1435146197030_4363" style="font-family: HelveticaNeue, Helvetica Neue, Helvetica, Arial, Lucida Grande, sans-serif; font-size: 16px;"> <div id="yui_3_16_0_1_1435146197030_4362" dir="ltr"> <hr size="1"> <font id="yui_3_16_0_1_1435146197030_4365" face="Arial" size="2"> <b><span style="font-weight: bold;">From:</span></b> Arlene Udick <arlene@udicklaw.com><br> <b><span style="font-weight: bold;">To:</span></b> RPPTL Landlord Tenant Committee <landten@lists.flabarrpptl.org> <br> <b><span style="font-weight: bold;">Sent:</span></b> Tuesday, June 23, 2015 6:44 PM<br> <b><span style="font-weight: bold;">Subject:</span></b> [RPPTL LandTen] Landlord tenant issue<br> </font> </div> <div class="y_msg_container"><br><div id="yiv4918490478">
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<div class="yiv4918490478MsoNormal"><span style="font-size: 12pt;">Dear wise brothers and sister in law, I need your wisdom in this situation</span></div>
<div class="yiv4918490478MsoNormal"><span style="font-size: 12pt;"> </span></div>
<div class="yiv4918490478MsoNormal"><span style="font-size: 12pt;">I represent a party who signed a lease option. Lease is for six months, lessee can exercise his option at any time between month 3 and month 5 of the lease. Lessee exercised
his option during month 2 by presenting a purchase contract which all parties signed. Though the parties agree on the business terms the buyer’s attorney is trying to rewrite the process of how the closing will take place. So far the buyer has asked for 3
extensions to the closing but has failed to meet any of them. The actions of the buyer seem that the buyer is trying to back out of the purchase without saying so. The buyer insists that he still wants to buy, but his behavior indicates otherwise.</span></div>
<div class="yiv4918490478MsoNormal"><span style="font-size: 12pt;"> </span></div>
<div class="yiv4918490478MsoNormal"><span style="font-size: 12pt;">Can the lessee present a second exercise of his option and restart the negotiations all over or do you only get one exercise per option agreement? Do we have a valid option
agreement? What happens if the situation between the parties break down? It almost looks like my client is being set up for a breach. Any insight or advice is appreciated. Thanks for your help. Arlene</span></div>
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<div class="yiv4918490478MsoNormal"><span style="font-size: 22pt;"><img width="125" height="69" id="yiv4918490478Picture_x0020_1" alt="Udick Law Logo_sig" src="cid:rwGc7pfoYRHzIP8yeDSA" data-id="c5f0c397-5c0e-82a3-5b6c-4fb1f9cda413"><br>
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<div class="yiv4918490478MsoNormal"><b><span style="color: rgb(13, 96, 187); font-size: 12pt;">Arlene C. Udick, Esq.</span></b></div>
<div class="yiv4918490478MsoNormal"><b><span style="color: rgb(13, 96, 187); font-size: 12pt;">(p) 352-391-1888</span></b></div>
<div class="yiv4918490478MsoNormal"><b><span style="color: rgb(13, 96, 187); font-size: 12pt;">(c) 352-217-3176</span></b></div>
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