If there is no seller's disclosure provided prior to executing the contract, then you should not put an option in section 23. If you read the paragraph under property condition sect 7...the buyer may terminate for any reason for 7 days after delivery of the SD...and receive their earnest money back. It's even a promulgated text option in the notice to terminate contract.
Why would you pay for the "right" to option out....when you have a 7 day out due to that provision?
It's a waste of option money.
Buyer has not received SD = No option.
Buyer has received SD = add option.
It's really that simple.
But no...you do not get your option back unless you close. Regardless of your reasons for termination. You bought a "right" when you paid option. That right has a time assigned to it. If you do not exercise it... doesn't matter. You bought it.