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of the Property — the Buyer is responsible for determining the legal status of all real <br />and personal property being purchased, (3) Seller cannot guaranty if or when Buyer <br />may be able to acquire title insurance for this Property, and (4) Seller may not possess <br />keys or other access to the buildings and improvements on the Property and that <br />gaining access to these buildings and improvements shall be Buyer's responsibility. <br />e. Buyer is responsible for all of its own costs associated with this transaction, including <br />but not limited to the payment of commissions, legal fees, or other compensation <br />associated with conducting this transaction. <br />f. Buyer may terminate this Offer until accepted by the City of Paris. As an inducement <br />to enter into this transaction, Buyer shall deposit 11fQ00.00 (20%) as earnest money <br />with The Pounders Law Firm within 3 business days after submitting this offer to the <br />Seller, to be held in said law cum's IOLTA Trust Account. Should the City of Paris, <br />Lamar County, Paris ISD or Paris Junior College fail to approve this transaction, this <br />offer shall terminate and the deposit shall be promptly returned to the Buyer. Should <br />the sale be approved by all taxing units, the funds deposited shall immediately <br />become the property of the City of Paris, Lamar County, Paris ISD and Paris Junior <br />College to be distributed as required by the Texas Property Tax Code, and shall be <br />applied against the purchase price of the Property. <br />g. Buyer accepts responsibility for determining: (1) the condition of the Property and <br />improvements, (2) the existence, if any, of any hazardous conditions or the presence <br />of any toxic waste on the Property, and (3) any other fact or condition that might be <br />considered a detriment or other deterrent to Buyer taking possession of the Property. <br />Seller has made no representations to the Buyer about the Property, and Buyer is not <br />relying on any representation made by Seller, its officers, employees, agents or <br />lawyers prior to submitting this Offer to the Seller. <br />4. This offer is enforceable by specific performance. It shall be construed under the laws of <br />Texas. Venue shall be the state district courts of Lamar County, Texas. <br />RAIN FINANCIAL SERVICES, INC. THE CITY OF PARIS, TEXAS <br />BY.... �.,o,�. <br />Printed Name: �L. <br />na+P• s w , 0 <br />:1 <br />Grayson Path, City Manager <br />Date: .2020 <br />Page 2 of 2 <br />