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Timeliness And Urgency (Type Ii)
TIMELINESS AND URGENCY-TYPE II
The following shall apply as a legally binding addendum to the contract made between [First Party's Name] and [Second Party's Name] on [Date of agreement].
All parties involved agree and understand time is of the essence with regard to the option of the contractual agreement, and the option must be exercised on or before [Date of exercise of option] and if not exercised by the expiration than right to do so will cease to exist.
Signature Dated
Signature Dated