Illinois Lease To Purchase Option Agreement

5. EXCLUSIVITY OF THE OPTION. This call option agreement is exclusive and non-refundable and is exclusively in favor of the aforementioned parties. If the buyer/tenant attempts to assign, transfer, delegate or transfer this purchase option without the explicit written permission of the seller/owner, such an attempt shall be deemed null and void. 9. RECOURSE IN CASE OF DELAY. If the buyer/lessee is in arrears under this purchase option or lease agreement, the seller/lessor may terminate this purchase option by written notice of termination, in addition to any other remedies legally available to the seller/lessor. In case of termination, the buyer/tenant loses the right to reimbursement of the rent or option. For this call option agreement to be applicable and effective, the buyer/lessee must comply with all the terms of the lease agreement. .