|
<br />R Fel f~'lJI r:D"
<br />~ ... I "-
<br />
<br />
<br />OCt, ? 1993
<br />STONE TITLE COMPANY, INC.~~QIt
<br />
<br />"/'j',;i' h),., "Jl (1' :,
<br />I. ' . ~ ~ i \ '
<br />
<br />rillS CONTRACT FORM liAS IIFEN PREPARED FOR \lSF. IIY MF.MIlF.RS OFTIIF. II 0 lJS'! ON ROARD OF. REAl.TORS, BY ITS
<br />LEGAL COllNSEL, AN AITORNEY AT LAW LICENSED IN TEXAS, AND APPROVED FOR USE IN A TRANSAcrrON INVOLVING
<br />THE SALE OF COMMERCIAL lINIMPROVED PROPERn', TIllS FORM liAS NOT BEEN DRAfTED FOR A SPECIFIC
<br />TRANSACTION, THEREfORE, THE PARTIES ARE ADVISED TO CONSULT THEIR ATTORNEYS BEFORE SIGNING,
<br />
<br />EARNEST MONEY CONTRACT -COMMERCIAL UNIMPROVED PROPERTY
<br />
<br />l. PARTIES: r. i t Y Of PR r i !:: ,Selle,)
<br />a2ltes III jell ,mJ CIlnvry tlI~d and Glenn TOt.TnAR
<br />(Bure,) anJ BIII'e' a~ltes III hllY hllm Stllc, ,hr '1IIIII\\'Il\~ rlllJ1(IIV (1I'lhe wnsi"eroHllln an" uron anJ ,uhlre! Ill' ,he 'rum, pnlVlII"ns, anJ
<br />wnJluon~ ht,emalm 'tl I~,"h,
<br />
<br />2 rROPERn': A Imc' ...( land !IIua,al m -Lama r ("umy, Te_al, IIlRe,he,
<br />u'uh allrmrnl\'tmellll allll hXlurc', p,il'III'~e', ,III" ,11'Purtl'Il,lllU' J'I'"allllll~ Ihell""III'I\'IIl"he" "lI"fllll'h lall.,J "r'''I'''If\:' .Ie'wl-cd;;\ f"II",>\
<br />anJ/o, ,I' 'et "11' 1111 hllll'll "/I" ,111".111',1 h"I\'h' ,lIhlll\\"'1,'r.IlI"II\l'lI'Il\'
<br />nlock 276 Lot 6, 4.14AcR. See Attached
<br />
<br />The meles anJ hmn.b Jejerirlll'fl Jeternuncd h Ihc 11Ir1'C\ "llhe r,operty he,clIMhc, r,ovl<led 'or U'llI,erlace E~luhr "A" allached he ,eta
<br />in the evenl it lhlmld Jllfer Inllll Ihe all,lChed exlubll,
<br />
<br />l, CONTRACT SALES PRICE:
<br />A, Cish payable at c1~m2 ,'" , , , ' , , , " ,',"',' ,', """""""'" ,,',' ' " """""'" S
<br />B, Sums Ilf all nllteS delwbed in rarn~rnph 4 htlow , , , , , , , , , , ' , , , , ' , " "" , ' ' , " " "',' " S
<br />C. Sales Prtce!Sum III A and Bl ' , ... .. .. .. " ......' ..,..,..,.. ' , ' .. , ..' s 159";000-.00-
<br />0, Check applicable box for Jele'mm3t1011 Ilf Sales Pllce: as / v~ (' (0'\0', (\,....
<br />o III The 'ales rllce ,hall nOI he b.llcd upon Ihe numbe' <II .IC,cl!I<llla'C (eer comrlllm~ ,he PIllJ1(m a\ determined by the sutvey,
<br />C III If the surVe\' olllle rroJ1(rtl' It<lUlle,1 hv rarn~r.lrh I'r'dlem dm Ihe numher "lr"lal ( ) acre 1 ( '\IIua,e IctI comrllSm~ lhe
<br />ProrcllY is m'),e lI,le,s rhan (l!lIlal amI or ( llolall<luarc Iw ("lillal A,ea''), Ihe Sales Pllce
<br />and Ihe wh ral'ahle a' d,,!,ir,2 ,h:lll h< !ncrc,,~.,.1 "' 'e,llIce,I"" ,he l'n,JU(t ,.1 ~ mlllllplieJ ~' lilt lmount nf
<br />mCltale 0' Jecrrale llllhe hltal a,ea,
<br />
<br />o (ll I( the survey of lhe ProPfrty ,ellUl,ed by Pam~rarh I~ lellws t1lJ1 Ihe numhe, .11 nel I ) ~crel I ) kjUllt (eer compriSln~ the
<br />Proprrry is molt o,lusthan () llel ,Ierel '" ( I lletlllua'c leet C'Nel Alta"). Ihe 5ale\ Pllce and the
<br />.cash payable 3t c111SI112 ,hall he IncltOlscd <I' u.JlIced h' rhc rn"lu(l,~ ~ mulrlrheJ hI' Ihe anMl1ll .,( mcrease
<br />","lecreasr "I Ihe net ,IIC;I,
<br />
<br />4. FINANCING:
<br />
<br />o A, SUBjECi W: Buyc, takes 11IhlCCl h', ,II") ,1,,1') lI<1t ,II,UIIIC rayment "I, the IInl'al,1 ""l.lllle .,1 Ihat r'lllnrl\O'Y nOle III -
<br />~~ .~
<br />Joes not assume Ih<lse obli~atlol\S illlro,c,1 hI' Ihe Deed ,'1 T,u,t ,ec<I,deJ In ,hc (<IUllll' whcu' rhe rroperty II SIlualed, Buyet shall
<br />pay the installment rayment duc a(te, the Jate 01 c1olmR' The p'illclpal hal.mce al "o,m2 Will he S . allowing
<br />10' an aRlted S l'a,iOlnce, The ca,h payahle al c10'IIIR shall he ;I<l,usled 1l11lhe amollnl tlf such va,iance, Should
<br />thil not be acceptahle tOlhe nole holde" "' ,I thc V;lIlance excee.1l the amounl ahlVc, "I IhuulJ the terms 01 Ihe nme II' deed o(
<br />lMt or mleltst rate be modified. a' shuuld Buye, he It<lllired to pay a Ir.lnsle, Ice In excesl "I S . 'this Contract
<br />may he lermmated ~t Bllye,'s (lpllOn .md Ihe Eamell Mllnt)' shall he ,c(unded '" Auy~"
<br />
<br />o B, ASSUMrfION: B\lI'(I ,hall assume Ihe unrald halance of Ihal r'lImllSIlIY 1IllIC rayahle III
<br />Jaled . amllllll~ <lhli2alll'ns imposed by Ihe Deed ofT lUSt Itcmded in Volume
<br />_' PaRe _ o( Ihe DeeJ o( T'USI Records in the cuunly whe,e the rmre"v is silUaleJ, Buye, shall pay Ihe installment
<br />paymcnl due afre'lhe dale uf c1ll\in~, The assumed p,incipal halancc al c1l1sin~ Will be S . allowing (u' an agreed
<br />S va,iance, The cash payable at closing shall he adJllSlcd Iln lhe amount of such variance, Buyer shall apply for
<br />as'Umr'MI ;lrrRwal U'lIhin _ Jays (n1l11lhe cffccllve ,lale helt,,1 an.! shall m,lke eveI)' ,e;llImahJe 'e((on to .,blain the lame, I( the
<br />I'ananee exceeJl th~ ;I"'we .1I1111Ulll, '" the l'xl\lill~ IIIINeSl r.lIC IS IIll1eascd ."I~.v,' __'~" III Buye, il ,equired 10 pay an
<br />assumr""n lee m excess "i' S . or a\lllmplilln arpnlVal cannlll hc oh,amcd wllhm _ .Iays (rom Ihe effective
<br />dale hereof, \hll COlllrdcl mav be le,minale.t a' Buyc,'s opIum and the E.lIflCSI Mllncy Ihall he ,e(unded In Buyer,
<br />
<br />8 C. THIRD rARTY FINANCING: Thil Controlcl is mhjecl 10 appnw,Ilo( a loan (m Buye, by a lhin! pallY in the amount o(
<br />S payahle m _ inslallmenll (0' nOI lesl Ihan _ years wich the inreltSl r.lle not 10 exceed_%
<br />re' annum. and wilh each ptincipal and inle'eSI rnslallmenr not (() exceeJ S .0 including inren:S1 0 plus inteltSl,
<br />Auye, shall apply (o'lhc loan wilhin _ days (RIm lhe effective dale he,ell( and shall make mty Itasonable effon 10 obtain
<br />.Irrmval, II the luan has llUl heen appnwed wlIl"n _ Jays (rom lhe d(ective .laIC hereol. this Cllnllacl shalllermmale and
<br />Iht Eamesl Muncy shall he reiunded to Buye"
<br />
<br />!J n, SELLER FIN.A,NCING: Buve' Ihall emule a rnlm~llnl)' mile III Selle, in the p,incip;l1 sum I~' S ' bearinR - %
<br />imeltll re' annum, an.1 rayablc: (Check I. I. j amI/II' 4 helm~)
<br />C tIl In iullllll die __ day .,i' , I~_, wilh accrued illle'eSI being due and payahle
<br />
<br />[ 12l In:; m,'nrhh C annual Cloche,:
<br />
<br />,'adl, l'e~rnlllnk ,In the _ ,Ia\' o( _
<br />
<br />,he _ J.1I"'(
<br />ullr,IIII. ,hall "" lhell dlle ;111,1 r,w;lhlt.
<br />
<br />Il\\lallmenlS o( S ' 0 incluJinK inte,esl 0 plus imernl
<br />, I~_. and COnlinuing ,e2ula,Iy lhen:afre, unlil
<br />, N_. when Ihc enme amnunlol pllllClpal aoJ InleltSllhen ltmaining
<br />
<br />c\!::!rd~ A
<br />!;. ,'~ : ~',' ~
<br />
<br />f"'~.'"' f\ r' 1
<br />.',:,'(.,,"
<br />
<br />9/Sl
<br />
<br />1'.1(( I ..1 4
<br />
|