Can I go ahead and exercise the Option, making the ACRN for $0.00, based on the availability of funds. Then modify the contract to add funds to the contract.
Yes you can. This is done frequently under Continuing Resolution Authority conditions as we are currently experiencing in DoD. Finance had to wait for a funding authorization document (FAD) before it could process the purchase request. In the meantime, you can avoid losing the ability to exercise the option by proceeding as you are suggesting.
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