1. The Purchaser(s) hereby undertakes to execute the Sale and Purchase Agreement (SPA), including the agreed terms and conditions stated herein, within full working days, excluding Saturdays, Sundays and Public Holidays, from the date of acceptance of this offer by the Vendor(s).
2. In the event the Purchaser(s) fails or refuses to execute the SPA, the Earnest Deposit shall be forfeited by the Vendor(s) as agreed liquidated damages, provided that there is no delay on the part of the Vendor(s) or the Vendor's solicitor and provided that the non-execution is not caused by misrepresentation, misconduct or fraudulent acts by the Vendor(s).
3. In the event the Vendor(s) fails or refuses to execute the SPA or complete the sale transaction within the stated period, the Vendor(s) shall refund the Earnest Deposit together with compensation equivalent to the Earnest Deposit, without prejudice to any other remedy available to the Purchaser(s).

1. Upon execution of the SPA, the Purchaser(s) shall pay the Vendor(s) % of the Purchase Price, less the Earnest Deposit already paid.
2. The balance Purchase Price shall be paid within month(s) from the date of execution of the SPA or the date of receipt of the relevant consent or confirmation, whichever is later and applicable. An extension of month(s) shall be granted subject to interest at % per annum on the outstanding balance, calculated daily.

The Property is sold on an “As Is Where Is” basis, with , free of encumbrances and subject to all express or implied conditions of title. Possession shall be delivered upon receipt of the full balance Purchase Price.

The parties expressly agree that this Option to Purchase shall take effect only upon execution by both the Vendor(s) and Purchaser(s). Once executed, it shall constitute a legally binding document pending execution of the SPA.