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3400 Old Tigertown Rd Contract Concerning Paris, TX 75460 Page5of9 02-13-06 (Address of Property) (3) any environmental hazards or conditions materially affecting the Property; (4) any dumpsite, landfill, or underground tanks or containers now or previously located on the Property; (5) any wetlands, as defined by federal or state law or regulation, affecting the Property; or (6) any threatened or endangered species or their habitat affecting the Property. I. RESIDENTIAL SERVICE CONTRACTS: Buyer may purchase a residential service contract from a residential service company licensed by TREC. If Buyer purchases a residential service contract, Seller shall reimburse Buyer at closing for the cost of the residential service contract in an amount not exceeding $ Buyer should review any residential service contract for the scope of coverage, exclusions and limitations. The purchase of a residential service contract is optional. Similar coverage may be purchased from various companies authorized to do business in Texas. J. GOVERNMENT PROGRAMS: The Property is subject to the government programs listed below or on the attached exhibit: Seller shall provide Buyer with copies of all governmental program agreements. Any allocation or proration of payment under governmental programs is made by separate agreement between the parties which will survive closing. 8. BROKERS' FEES: All obligations of the parties for payment of brokers' fees are contained in separate written agreements. 9. CLOSING: A. The closing of the sale will be on or before December 21 , 2006 , or within 7 days after objections made under Paragraph 60 have been cured or waived, whichever date is later (Closing Date). If either party fails to close the sale by the Closing Date, the nondefaulting party may exercise the remedies contained in Paragraph 15. B. At closing: (1) Seller shall execute and deliver a general warranty deed conveying title to the Property to Buyer and showing no additional exceptions to those permitted in Paragraph 6, an assignment of Leases, and furnish tax statements or certificates showing no delinquent taxes on the Property. (2) Buyer shall pay the Sales Price in good funds acceptable to the escrow agent. (3) Seller and Buyer shall execute and deliver any notices, statements, certificates, affidavits, releases, loan documents and other documents required of them by this contract, the Commitment or law necessary for the closing of the sale and the issuance of the Title Policy. C. Unless expressly prohibited by written agreement, Seller may continue to show the Property and receive, negotiate and accept back up offers. D. All covenants, representations and warranties in this contract survive closing. 10. POSSESSION: Seller shall deliver to Buyer possession of the Property in its present or required condition, ordinary wear and tear excepted: gg upon closing and funding 0 according to a temporary residential lease form promulgated by TREC or other written lease required by the parties. Any possession by Buyer prior to closing or by Seller after closing which is not authorized by a written lease will establish a tenancy at sufferance relationship between the parties. Consult your insurance agent prior to change of ownership and possession because insurance coverage may be limited or terminated. The absence of a written lease or appropriate insurance coverage may expose the parties to economic loss. 11. SPECIAL PROVISIONS: (Insert only factual statements and business details applicable to the sale. TREC rules prohibit licensees from adding factual statements or business details for which a contract addendum or other form has been promulgated by TREC for mandatory use.) SELLER GRANTS TO PURCHASER 60 DAYS FROM DATE OF EXECUTION OF THIS CONTRACT TO OBTAIN REZONING OF THIS PROPERTY (OR PART THEREOF) FOR A SPECIAL USE PERMIT FOR MANUFACTURED HOUSING. DURING THIS TIME PERIOD SELLER RETAINS THE RIGHT TO CONTRACT WITH THIRD PARTIES FOR THE SALE OF HIS/THEIR PROPERTY AND SHOULD SELLER FIND A THIRD PARTY WILLING TO ENTER INTO A CONTRACT ACCEPTABLE TO HIM/THEM, SELLER WILL FIRST GIVE PURCHASER HERIN THE RIGHT TO TERMINATE THIS CONTINGENCY OF THE REZONING AND CLOSE ON THIS CONTRACT WITHIN 21 DAYS. Initialed for identification by Buyer .x... _ and Seller _ _ (TAR-1701) 2-13-06 Produced with ZipForm™ by RE FormsNet, LLC 18025 Fifteen Miie Road. Clinton Township, Michigan 48035 www.zioform.com TREC NO. 25-5 Page 5 of 9 Womack to Pose