11 - Private Re-Sale of a Tract of Tax Foreclosed Property - Westgate Apartments

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Exhibit "A" PRIVATE OFFER TO PURCHASE A BID -OFF TAX PROPERTY PARTIES: • SELLER (hereinafter the "Seller"): City of Paris, Trustee„ as trustee for itself, Lamar County, Parisendent School District and Paris Junior Collee,e. • BUYER (hereinafter the "Buyer"): Rain Financial Services Inc 1615 Randol Mill Ave w5outhlake_TX76092-2039remait-_, �orli�� 0,tx,,ni 2. IDENTITY OF PROPERTY (hereinafter the "Property"): Lamar CAD No. 12932, "MARTIN BLOCK ADDITION, BLOCK A, LOT 1 THRU 20, NW 7TH", approximately 8.020 acres of real property located in Lamar County, Texas, and more specifically identified in that Special Warranty Deed filed with the Lamar County Clerk on January 31, 2011 as Instrument No. 085347-2011. OFFER: Buyer offers to purchase the Property from the Seller for $75,000.00. a. Buyer acknowledges that the Property was bid -off to Seller pursuant to a tax lien foreclosure sale, per the judgments and orders of Cause No. 87473, City of Paris vs. Property Partners I, LLC (the "Tax Sale"), and by that Tax Deed recorded by the Lamar County Clerk as Document No. 20-168006-2020 (filed January 27, 2020). b. Buyer acknowledges that although the City of Paris, acting by and through its City Council, may accept this Offer, final approval of this sale is conditioned upon the Offer also being approved by Lamar County, Paris ISD and Paris Junior College; this offer shall be deemed re j ected and immediately terminated if this Offer has not been approved by all taxing units within six months of the City of Paris' approval (unless such approval period is extended by mutual written agreement of Buyer and the City of Paris, acting by and through its City Manager or his designee). c. Buyer acknowledges that any conveyance of the Property shall be made "as -is" "where -is" without warranty express or implied (including but not limited to that of title, description of the Property, the size or dimensions of the Property, or fitness for any use), and subject to the following covenants, conditions and restrictions: (1) the prior owners' rights of redemption, (2) rights of the public to any portion of the above described Property lying within the boundaries of dedicated or existing roadways or which may be used for road or street purposes, (3) visible and apparent easements over or across subject Property, (4) rights of parties in possession, (5) the Property is free from encumbrances to the extent that they have been released or extinguished by the Tax Sale, (6) the deed shall be prepared by the Seller or its attorney on a form and in a form of its choosing, and (7) post judgment year taxes are due on the Property, the payment of which shall be assumed by Buyer. d. Buyer acknowledges that (1) Seller does not possess a survey of the property and shall not provide Buyer with a survey of the Property, (2) Seller shall not provide Buyer with a UCC search associated with this Property or the current or past owners Private Offer to Purchase Bid -Off Pro Lierty, Page 1 of 2