SR: The first bit you quoted indicates that the mortgage servicing rights and obligations have already been purchased by JPM; so I don't see any additional consideration being owed for those.
However, the second bit indicates that there are some assets that are subject to an option to purchase, and - if the option is exercised - the purchase price for those assets is to be their book value (not some multiple of book value as suggested by one poster).
The questions are: has that option been exercised and, if so, with respect to which assets and what was the purchase price. These are questions worthy of further research. Maybe - as you suggest - the FDIC has not yet determined the price and so JPM still has to decide whether to exercise that option or not.
I have often thought that it would have been irresponsible of the FDIC to sell in a one-bidder overnight auction the whole bank for only 1.88 billion. They had to be concerned that they might be allowing JPM to purchase the bank for a small percentage of its book value. The urgency of the situation might have caused the FDIC to sell for an initial purchase price of 1.88, with some additional payment to come later after a proper book valuation could be done. That makes sense to me.
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