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<br />~
<br />Eo"",- HOUSINC
<br />oPPo~TUNITY
<br />
<br />PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC)
<br />FARM AND RANCH CONTRACT
<br />
<br />02-13-06
<br />
<br />1. PARTIES: John A Womack (Seller)
<br />agrees to sell and convey to Shirley Posey
<br />(Buyer) and Buyer agrees to buy from Seller the Property described below.
<br />
<br />2. PROPERTY: The land, improvements, accessories and crops are collectively referred to as the "Property".
<br />A. LAND: The land situated in the County of Lamar , Texas, described as follows:
<br />10.0 ac. to be surveyed, part of 19.38 ac. city blk 324 lot 13-F
<br />
<br />oras described on attached exhibit, also known as3400 Old Tigertown Rd. Paris. TX 75460
<br />
<br />(address/zip code), together with all rights, privileges, and appurtenances pertaining thereto, including but not
<br />limited to: water rights, claims, permits, strips and gores, easements, and cooperative or association
<br />memberships.
<br />B. IMPROVEMENTS:
<br />(1) FARM and RANCH IMPROVEMENTS: The following permanently installed and built-in items, if any:
<br />windmills, tanks, barns, pens, fences, gates, sheds, outbuildings, and corrals.
<br />(2) RESIDENTIAL IMPROVEMENTS: The house, garage, and all other fixtures and improvements attached to
<br />the above-described real property, including without limitation, the following permanently installed and
<br />built-in items, if any: all equipment and appliances, valances, screens, shutters, awnings, wall-to-wall
<br />carpeting, mirrors, ceiling fans, attic fans, mail boxes, television antennas and satellite dish system and
<br />equipment, heating and air-conditioning units, security and fire detection equipment, wiring, plumbing and
<br />lighting fixtures, chandeliers, water softener system, kitchen equipment, garage door openers, cleaning
<br />equipment, shrubbery, landscaping, outdoor cooking equipment, and all other property owned by Seller and
<br />attached to the above described real property.
<br />C. ACCESSORIES:
<br />(1) FARM AND RANCH ACCESSORIES: The following described related accessories: (check boxes of
<br />conveyed accessories) 0 portable buildings 0 hunting blinds 0 game feeders 0 livestock feeders and
<br />troughs 0 irrigation equipment 0 fuel tanks 0 submersible pumps 0 pressure tanks 0 corrals 0 gates
<br />o chutes 0 other:
<br />
<br />(2) RESIDENTIAL ACCESSORIES: The following described related accessories, if any: window air conditioning
<br />units, stove, fireplace screens,' curtains and rods, blinds, window shades, draperies and rods, controls for
<br />satellite dish system, controls for garage door openers, entry gate controls, door keys, mailbox keys, above
<br />ground pool, swimming pool equipment and maintenance accessories, and artificial fireplace logs.
<br />D. CROPS: Unless otherwise agreed in writing, Seller has the right to harvest a!1 growing crops until delivery of
<br />possession of the Property.
<br />E. EXCLUSIONS: The following improvements, accessories, and crops will be retained by Seller and excluded:
<br />
<br />,. ~; "
<br />
<br />F. RESERVATIONS: Seller reserves the following mineral, water, royalty, timber, or other interests:
<br />
<br />3. SALES PRICE:
<br />A. Cash portion of Sales Price payable by Buyer at closing . . . . . . . . . . . . . . . . . . . . . . . .. $
<br />B. Sum of all financing described below (excluding any loan funding
<br />fee or mortgage insurance premium) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 27 .500.00
<br />C. Sales Price (Sum of A and B) .............................................. $ 32.500.00
<br />D. The Sales Price ~ will 0 will not be adjusted based on the survey required by Paragraph 6C. If the Sales Price
<br />is adjusted, the Sales Price will be calculated on the basis of $ 3. 25Q....:...l1.0 per acre. If the Sales
<br />Price is adjusted by more than 10%, either party may terminate this contract by providing written notice to the
<br />other party within 5 days after the terminating party receives the survey. If neither party terminates this
<br />contract or if the variance is 10% or less, the adjustment will be made to the amount in 0 3A 0 3B
<br />~ proportionately to 3A and ~.
<br />
<br />Initialed for identification by Buyer ~ _ and Seller _ _
<br />(TAR-1701) 2-13-06
<br />Century 21 4600 Lamar Avenue. Paris TX 75462
<br />Mike E Russell
<br />
<br />5.000.00
<br />
<br />Phone: 903-78;.6427 Fax:
<br />Produced with ZipForm no by RE FormsNet. LLC 18025 F~teen Mile Road, Clinton Township. Michigan 46035 www.zioform.com
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<br />TREC NO. 25-5
<br />Page 1 of 9
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