270 Legal [Sample Agreements]

OPTION AND ACQUISITION AGREEMENT

AGREEMENT dated as of December 12, 2005, by and between Mark Clausen and Gina Davidson located at +++ (collectively “Owner”) and Blood and Bones Productions, Inc. a California corporation, its successors and/or assigns with offices at 5670 Wilshire Boulevard, Suite 1690, Los Angeles, CA 90036 herein referred to as the (”Purchaser”).

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1. Option
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In consideration of the payment by the Purchaser of the sum of One U.S. Dollars ($1.00 USD) (the “Initial Option Payment”), the receipt and sufficiency of which are hereby acknowledged, the Owner hereby grants to the Purchaser an irrevocable and exclusive option, for a period of One (1) year commencing, on the date hereof (the ‘Initial Option Period”) to purchase all of the Rights (as such term is defined in 3(a)(ii) below) in and to the Property (as such term is defined in 3(a)(1) below). If the Initial Option Period ends in as Saturday, Sunday or holiday, it will be deemed to end on the close of business in Los Angeles, California on the first succeeding business day. Should Purchaser have commenced Development of the Property prior to the end of the Initial Option period, then the Purchaser the Purchaser shall be entitled to extend the Option for a further period of twelve (12) months (the “Second Option Period”), commencing on the date of expiration of the Initial Option Period for the payment of Five Thousand US Dollars ($5,000.00), such payment to be paid prior to the date of expiration of the Initial Option Period and to be credit against the Purchase Price under 2 (b) below.
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