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3400 Old Tigertown Rd Contract Concerning Paris, TX 75460 Page 8 of 9 02-13-06 (Address of Property) 22. AGREEMENT OF PARTIES: This contract contains the entire agreement of the parties and cannot be changed except by their written agreement. Addenda which are a part of this contract are (check all applicable boxes): gg Third Party Financing Condition o Addendum for Seller's Disclosure of Addendum Information on Lead-based Paint and Lead- based Paint Hazards as Required by Federal Law o Seller Financing Addendum o Environmental Assessment, Threatened or Endangered Species and Wetlands Addendum o Loan Assumption Addendum o Addendum for Coastal Area Property o Buyer's Temporary Residential Lease o Addendum for Property Located Seaward of the Gulf Intracoastal Waterway o Seller's Temporary Residential Lease o Addendum for "Back Up" Contract o Addendum for Sale of Other Property by o Other (list): Buyer 23. TERMINATION OPTION: For nominal consideration, the receipt of which is hereby acknowledged by Seller, and Buyer's agreement to pay Seller $ 100.00 (Option Fee) within 2 days after the effective date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within 10 days after the effective date of this contract. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract. If Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any earnest money will be refunded to Buyer. The Option Fee ~ will 0 will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required. 24. CONSUL T AN ATTORNEY: Real estate licensees cannot give legal advice. READ THIS CONTRACT CAREFULL Y. If you do not understand the effect of this contract, consult an attorney BEFORE signing. Buyer's Seller's Attorney is: Ed Ellis Attorney is: A. W. Clem IV 41 NW 1st, Paris TX 75460 100 N. Main Paris TX 75460 Telephone: (903)785-0336 Telephone: (903) 784-4393; Facsimile: Facsimile: E-mail: E-mail: EXECUTED the day of , (EFFECTIVE DATE). (BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.) Buyer Shirley Posey Seller John A. Womack 4AJOJ.. Pavo Seller Buyer \ The form of this contract has been approved by the Texas Real Estate Commission. TREC forms are intended for use only by trained real estate licensees. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 1-800-250-8732 or (512) 459-6544 (http://www.trec.state.tx.us) TREC NO. 25-5. This form replaces TREC NO. 25-4. (TAR-1701) 2-13-06 Produced with ZipForm™ by RE FormsNet. LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035 WWW.ziDform.com TREC NO. 25-5 Page 80f9 Womack to Pose r - ..