Know all men by these presents, That......of the County of Los Angeles, State of California, the owner, in consideration of the sum of

......dollars, gold coin, to ...... in hand paid, the receipt whereof is hereby acknowledged, does hereby give and grant unto..................

of the County and State aforesaid, for the term ending at twelve o'clock noon on the .... day of......, 1906, the exclusive right and option to purchase that certain real property, situate in the City of Los Angeles, County and State aforesaid, officially described as follows, to-wit: (here follows description.)

.......situate on......street, and being of the dimensions of......feet frontage on said street by......feet in depth, to a......foot alley, together with the appurtenances, for the sum of......($......) NET to said owner, the said price to be payable as follows, to-wit: $......the amount paid for this option, which shall be applied on, and as a part of, said purchase price, in event of sale; $... in cash, to be paid within fifteen days from date of sale after conveyances shall be placed in escrow; $......by a negotiable promissory note, to bear date of sale, to be executed by the purchaser to said owner, and to be payable......years after date, with interest at the rate of......per cent per annum, payable quarterly and to be secured by a first mortgage on said premises.

In the event of sale, the said owner agrees to make, execute; acknowledge and deliver a good and sufficient deed, conveying said premises to said..................or his assigns, and to furnish, free of expense to the purchaser, an unlimited certificate of title, to be issued by the Title Insurance and Trust Co., or Title Guarantee and Trust Co., showing a marketable title to said premises to be vested in purchaser, free and clear of incumbrances, except..........

This option is given subject to the following conditions on the part of said owner to be kept and performed, namely:

That he shall pay interest to date of transfer on any mortgage now on said premises;

That he shall transfer to purchaser without charge, either for transfer fee or return premium, any policy or policies of insurance now on said premises, for the unexpired terms thereof;

That he shall pay any personal property taxes which by operation of law or otherwise might become or are a lien upon said premises;

That he shall receive all rents from said premises to date of transfer, and if said rent shall have been or be paid to him in advance and beyond the date of transfer, he will refund the excess to the purchaser;

In the event of sale, all papers and the said moneys are to be placed forthwith in escrow with either of the above mentioned Title Companies.

In the event this option shall not be exercised within the time above limited, the said sum of $..........shall be retained by said owner as liquidated and stipulated damages, and both parties shall thereupon be released from all obligations hereunder.

All of the covenants and agreements hereof shall bind the heirs, legal representatives, successors and assigns of the said respective parties hereto, and each of them.

In Witness Whereof, the said........has hereunto set........hand and seal this......day of........, A. D. 1906.

.................... (SEAL)

A SERIES OF LETTERS TO FOLLOW UP AND CLOSE A SALE UNDER OPTION, WHERE AN INCUMBRANCE IS DISCOVERED. (Nos. 113 to 117 inclusive.)