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312 <br /> <br /> 1. That PEDC agrees to sell and H-W COMMERCIAL agrees to purchase the following <br /> described property, to-wit: <br /> <br /> All that certain property in the James Bourland Survey No. <br /> 69, and being a part of the Southwest Industrial Park No. 1, a plat <br /> of which is attached hereto as Exhibit A and described as follows: <br /> Being Lots 1-B and 2-B shown on said Exhibit A attached <br /> hereto and the southern portion of Tract 3-B described as follows: <br /> BEGINNING at the southwest corner, of Tract 3-B; <br /> THENCE North with its West Boundary Line a distance of <br /> 239 feet, a stake; <br /> THENCE in an easterly direction parallel with the North <br /> Boundary Line of Tract 3-B a distance of 1,200 feet to a stake in the <br /> East Boundary Line of Tract 3-B; <br /> THENCE South with the East Boundary Line of Tract 3-B <br /> a distance of 155 feet, a stake in the southeast corner of Tract 3-B; <br /> THENCE West with the South Boundary Line of Tract 3-B <br /> a distance of 1,201 feet to the place of beginning. <br /> <br /> along with the railroad right-of-way shown on Exhibit B, attached hereto, which runs <br /> through said property, for $50,000.00 cash, to be paid at the time of closing at Stone Title <br /> <br /> 1 <br /> <br /> EXHIBIT A <br /> <br /> Company in Paris, Lamar County, Texas, with H-W COMMERCIAL receiving possession <br /> of the property on the date of closing. <br /> <br /> 2. That PEDC shall, at its own expense, refurbish 7th Street S.W. as a concrete road from <br /> the private industrial driveway serving 2510 S. Church Street south to Loop 286, with such <br /> construction to be completed on or before September 30, 1998, weather permitting. <br /> <br /> 3. That H-W INVESTMENTS agrees to donate sufficient right-of-way necessary so as to <br /> accommodate existing utilities for the eventual construction of a boulevard with two (2) <br /> wearing surfaces of twenty-eight (28) feet each, for the expansion of 7th Street S.W. from <br /> the private industrial driveway serving 2510 S. Church Street south to Loop 286. <br /> <br /> 4. The sale herein described is to be closed on or before February 17, 1998, at Stone Title <br /> Company, Paris, Lamar County, Texas, or as otherwise herein provided. In the event the <br /> PEDC is unable to acquire the aforementioned railroad right-of-way by the date of closing, <br /> PEDC and H-W COMMERCIAL agree that the transaction will be closed into escrow on <br /> that date, with such sale then being closed as soon as possible after the PEDC has acquired <br /> said railroad right-of-way. <br /> <br /> <br />