Common use of Memorandum of Option Clause in Contracts

Memorandum of Option. Upon request of Purchaser, Seller agrees to execute a memorandum of option, in form and substance reasonably satisfactory to the Parties, suitable for recording, evidencing the granting of the Option herein contained. EXECUTED to be effective as of the date shown on the front cover hereof. PURCHASER: CCA PRISON REALTY TRUST By: /s/ Doctor R. Cxxxxx XXX -------------------------------------- Its: President ------------------------------------- Date: July 7, 1997 ------------------------------------- Purchaser's Tax Identification Number: 62-1000000 ---------- SELLER: corrections CORPORATION OF AMERICA By: /s/ Doctor R. Cxxxxx -------------------------------------- Its: Chairman of the Board and Chief Executive Officer ------------------------------------- Date: July 7, 1997 ------------------------------------- Seller's Tax Identification Number: 62-1000000 ---------- AGREEMENT OF TITLE COMPANY By its execution of this Agreement, the Title Company agrees to: (a) timely file a return with the Internal Revenue Service on Form 1099-B, Form 1099-S and/or such other form or forms as the Internal Revenue Service may by form or regulation require, and (b) furnish Purchaser with a written statement showing the name and address of the Title Company and the information shown on such form or forms with respect to Purchaser, and (c) comply with the provisions of the Agreement which are applicable to the Title Company. Such form or forms shall be filed in order that the parties to this transaction will be in compliance with Section 6045 of the Internal Revenue Code of 1986, as amended. Purchaser and Seller shall each provide their taxpayer identification numbers to the Title Company so that such information may be included in the form or forms filed by the Title Company. LAWYERS TITLE INSURANCE CORPORATION By: --------------------------------------- Name: ------------------------------------- Title: ------------------------------------ marquis

Memorandum of Option. Upon request of Purchaser, Seller agrees to execute a memorandum of option, in form and substance reasonably satisfactory to the Parties, suitable for recording, evidencing the granting of the Option herein contained. EXECUTED to be effective as of the date shown on the front cover hereof. PURCHASER: CCA PRISON REALTY TRUST By: /s/ Doctor R. Cxxxxx XXX -------------------------------------- Its: President ------------------------------------- Date: July 7, 1997 ------------------------------------- Purchaser's Tax Identification Number: 62-1000000 ---------- --- SELLER: corrections CORRECTIONS CORPORATION OF AMERICA By: /s/ Doctor R. Cxxxxx -------------------------------------- Its: Chairman of the Board and Chief Executive Officer ------------------------------------- Date: July 7, 1997 ------------------------------------- Seller's Tax Identification Number: 62-1000000 ---------- AGREEMENT OF TITLE COMPANY By its execution of this Agreement, the Title Company agrees to: (a) timely file a return with the Internal Revenue Service on Form 1099-B, Form 1099-S and/or such other form or forms as the Internal Revenue Service may by form or regulation require, and (b) furnish Purchaser with a written statement showing the name and address of the Title Company and the information shown on such form or forms with respect to Purchaser, and (c) comply with the provisions of the Agreement which are applicable to the Title Company. Such form or forms shall be filed in order that the parties to this transaction will be in compliance with Section 6045 of the Internal Revenue Code of 1986, as amended. Purchaser and Seller shall each provide their taxpayer identification numbers to the Title Company so that such information may be included in the form or forms filed by the Title Company. LAWYERS TITLE INSURANCE CORPORATION By: --------------------------------------- Name: ------------------------------------- Title: ------------------------------------ marquis