(1) The final negotiated purchase shall be placed in the form of a written purchase instrument signed by the owner and, if applicable, the acquiring agency. Option agreements entered into prior to approval of the appraisals must be signed on behalf of the Board by the Secretary or the Director.
    (2) When an acquiring agency is negotiating the acquisition and obtaining the owner’s signature on a purchase instrument, the acquiring agency shall use a form of purchase instrument approved by the Director as meeting the intent of the law and this rule.
    (3) Before the purchase instrument is submitted to the Board for approval, the provisions of Florida Statutes § 286.23, shall be complied with.
    (4) A purchase instrument approved by the Board shall be binding on all parties.
Rulemaking Authority 253.025(12), 259.041 FS. Law Implemented 253.025, 259.041 FS. History-New 6-16-86, Amended 4-14-08.