Title Purchase: UNI Royalties, Ltd., Mineral & Royalty Option to Purchase Minerals, Royalty Contract, Purchase and Sale Agreement, Royalty Option, Assignment, Quit Claim Option Agreement. Please Read Disclaimer Below before Using. To Download a PDF Version, please click use the link at the Bottom of the Page!

OPTION TO PURCHASE ROYALTY INTERES

STATE of {STATE}

COUNTY of {COUNTY NAME}

Effective Date:  { ______ / _____ / 20_____ “__________ , _____ , 20 _____ ”}

Example: {11/01/2012 “November 1st 2012”} 

For adequate consideration, Seller, named above, grants, assigns, and conveys to Buyer, named above, an exclusive option (the "Option"), commencing on the Effective Date stated above, and ending at 5 p.m. on {EXPIRATION DATE} (the "Option Term"), to purchase a Royalty Interest (the "Interest") on Seller's undivided {DECIMAL INTEREST} Royalty Interest owned by the Seller in and under the following lands/wells (the "Lands") in the county and state named above: 

{OPERATORS NAME}. – (LEGAL DESCRIPTION OF LANDS AND/OR UNIT DESIGNATION DESCRIPTION). 

A more complete and accurate description may be necessary and this conveyance will cover all interest owned by the Seller described herein, in the County and State named above. The terms and provisions of the Royalty Conveyance for which this Option is granted will be identical to those contained in the Royalty Conveyance to be executed and delivered by Seller upon acceptance of this instrument conveying a minimum net revenue of {.025} (RI) in the Lands listed above. In the event Buyer elects to exercise its option and purchase the Interest from the Sellers upon execution of this Option, Buyer shall give Seller written notice by e-mail of that election within {7} days after receipt of this executed agreement. If Buyer fails to give written notice of Buyer's election to purchase the Interest prior to the expiration of the Option Term, it shall be deemed that Buyer has elected not to purchase the Interest and this Option shall expire automatically. In the event Buyer timely elects to exercise its option and purchase the Interest, Seller shall execute, have acknowledged, and deliver the Royalty Conveyance to Buyer and Buyer shall have {10} days from the date of such election in which to examine title to the Lands. If this title examination reveals Sellers have marketable title to the stated undivided interest in the oil, gas, and other minerals in and under the Lands, Buyer shall pay Seller the sum of {ZERO THOUSAND DOLLARS and 0/100 ($0,000.00)} as “total consideration” for the Interest.

In the event Buyer's examination determines Seller has marketable title and income to a lesser interest in the oil, gas, and other minerals in and under the Lands as identified above, so that the Royalty Conveyance will be a valid, subsisting, and a marketable Royalty Conveyance on a lesser undivided interest in the Lands than the interest stated above, the cash offer consideration provided above shall be proportionately reduced. This Option is signed by Seller and Buyer as of the date of the acknowledgments below, but is effective for all purposes as of the Effective Date stated above.

Acknowledged and agreed to as of this {Day} day of {Month} {Year};

BUYER

_____________________________________
{BUYERS NAME}

SELLER

_____________________________________
{SELLERS NAME}

Acknowledgements

State of {STATE}                            )(
County of _____                             )(

On ___________________________ , _____ , 20 ____ , before me, ____________________________ (Name printed), WITNESS, personally appeared {BUYERS NAME}, on behalf of himself., personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the person, or entity upon behalf of which the person acted, executed the instrument.

WITNESS my hand and official seal.

________________________________
WITNESS SIGNATURE

State of {STATE}                           )(

County of _____                            )(

On ___________________________,_____, 20____, before me, ____________________________ (Name printed), WITNESS, personally appeared {SELLERS NAME}, on behalf of himself., personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the person, or entity upon behalf of which the person acted, executed the instrument.

WITNESS my hand and official seal.

________________________________
WITNESS SIGNATURE

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DISCLAIMER: IF THIS FORM ABOVE IS USED IN A BUSINESS TRANSACTION, ASSIGNMENT, OR OTHERWISE, CONSULT LEGAL COUNSEL. THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD. LEGAL. TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING.