Posted by Jon on December 09, 1998 at 22:56:49:
The following is in Bill’s “Mortgage to Secure Option”:
“Optionor has executed a certain option agreement dated…under which Optionor is under an obligation to perform certain acts, promises and/or covenants, which is valued at $(fill in the blank)”
Question: What is the value? Is the valve of the mortgage the same as the amount of option consideration paid?