1984-052 - Contract of Sale and Purchase with Lamar County

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CONTRACT OF SALE AND PURCHASE STATE OF TEXAS § KNOW ALL MEN BY THESE PRESENTS: x COUNTY OF LAMAR § THAT, COUNTY OF LAMAR, State of Texas, acting by and through its County Judge, hereinafter called COUNTY and the CITY OF PARIS, Paris, Lamar County, Texas, a municipal corporation, acting by and through its Mayor, hereinafter called CITY, do contract and agree as follows: 1. COUNTY agrees to sell and CITY agrees to buy Lot 9, City Block 6, Paris, Lamar County, Texas, being a lot approximately 103 feet x 105 feet at the Northwest corner of Kaufman Streets intersection with 1st S. E. Street for the total purchase price of $100,000.00 payable as follows: $60,000.00 cash payable at closing and the conveyance of Lot 1, City Block 41, Paris, Lamar County, Texas. 2. COUNTY agrees to furnish to CITY Owner's Title Policy through Stone Title Company, Inc. and General Warranty Deed conveying the above described property in fee simple, and CITY agrees to furnish to COUNTY Owner's Title Policy, through Stone Title Company, Inc and General Warranty Deed conveying Lot 1, City Block 41 in fee simple free and clear of all ad valorem taxes to date of closing, and CITY agrees to complete the sale as herein provided within 10 days from date said title company ap- proves both titles for title insurance. If said title company raises objection to the title of either tract of land the owner thereof shall have 30 days within which to meet such objections and if owner is unable to meet the objections this contract shall thereupon terminate and all parties be released from liability hereunder; but if the title to both tracts is approved, and either party hereto fails or refuses to consummate this contract, the other may, at its option, enforce specific performance of this contract. 3. COUNTY agrees, when the title objections have been met or waived, to said Lot 9, City Block 6 to deliver a good and EXHIBIT A U