OPTION TO PURCHASE PROPERTY
THIS AGREEMENT is among Nashua Millyard Associates, Inc., their successors and
assigns (collectively, the “Seller”) and Stephen Bonnette and Aaron Bagshaw, their successors
and assigns (collectively, the “Buyer’).
RECITALS
This Agreement is entered into upon the basis of the following facts and intentions of the
parties:
A. Seller owns that certain real property described in Exhibit A hereto (the
Property”).
B. Buyer desires to obtain an option to purchase the Property from Seller and
Seller is willing to grant such an option to Buyer.
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties hereby agree as follows:
1. Option. As of the date hereof, the Seller grants to Buyer an exclusive option (the
“Option”) to purchase a portion of the Property (“Option Land” as hereinafter defined) from
Seller upon all of the terms, covenants and conditions hereinafter set forth. This option may be
recorded at the election of Buyer.
2. Consideration for the Option. As consideration for this Option, Buyer has
delivered One Dollar ($1.00) and other valuable consideration, receipt of which is hereby
acknowledged by the Seller. The consideration paid to the Buyer for this option may be retained
by the Seller without deduction or offset.
3. Term. The term of this Option shall commence upon execution by both parties
and shall expire at 5:00 pm on the ninetieth day following closing the transaction called for in a
a certain Real Estate Purchase and Sale Agreement entered into by and between Nashua Millyard
Associates, Inc. and the City of Nashua dated April __, 2021 (the “City of Nashua PSA”). In
the event that the City of Nashua PSA does not close on or before July 31, 2021, this Option
shall automatically terminate and neither parties shall have any further rights pursuant to this
Option Agreement.
4, Purchase Price. The purchase price (“Purchase Price”) which Buyer agrees to pay
upon exercise of the Option is One Dollar Fifty-Seven cents ($ 1.57) per square foot payable in
cash.
5. Conditions Precedent and Exercise. The Seller does hereby authorize the Buyer or
Buyer’s agents to enter the Property for purposes of preparing or causing a survey of the
