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<br />~ <br /> <br />.-- <br /> <br />placed thereon by Buyer; <br /> <br />b. Seller owes no obligation and has contracted no liabilities affecting the real Property <br />which might affect the consummation of the purchase described in this agreement; <br /> <br />c. Seller shall at or prior to closing pay all obligations owed by Seller against the <br />Property andlor business which is the subject of this agreement; <br /> <br />d. Seller shall execute and deliver at closing to the Buyer such Warranty Deed and other <br />instruments deemed necessary or proper to transfer to Buyer all the real Property <br />being sold pursuant to this agreement. <br /> <br />6. Title Insurance. Buyer shall obtain at Buyer's expense a commitment from a Title <br />Insurance Company licensed to do business in the State of Texas (the "Title Company") to <br />issue a standard policy of title insurance on the appropriate TL T A form in the amount of the <br />purchase price. Said title report shall address the current status of the title with regard to the <br />three-tenths (311 0) interest owned by Seller and conveyed herein. <br /> <br />7. Closing. The closing shall take place on or before March 1,2003, at Young Title Company, <br />Inc., 2765 N,E. Loop 286, Paris, Lamar County, Texas. At closing, the following will occur: <br /> <br />a. Closing documents. The parties will execute and deliver the closing documents. <br /> <br />b. Payment of purchase price. Buyer will deliver the purchase price and other amounts <br />that Buyer is obligated to pay under this contract to title company in funds acceptable <br />to the title company, and the adjustments thereto associated with the sal'e of the <br />Property shall be made. Thereafter, following any other disbursements or other costs, <br />the title company will be instructed to disburse the purchase price and other funds in <br />accordance with this contract, record the deed and other closing documents directed <br />to be recorded, and distribute documents and copies in accordance with the parties' <br />written instructions. <br /> <br />8. Termination. This contract shall be and is hereby made specifically subject to the <br />conditions of termination of that commercial real estate purchase agreement by and between <br />the Chamber of Commerce of Lamar County, Inc. and NEAT Properties, LLP, Limited <br />Liability Partnership, dated January 13,2003, a copy of which is attached hereto and for all <br />purposes incorporated herein as Exhibit B, as said contract shall provide for termination by <br />either the Chamber or NEAT Properties, and upon termination of said agreement in <br />accordance with the terms of said agreement contract shall likewise be terminated and of no <br />further force and effect. <br /> <br />9. Miscellaneous provisions. <br /> <br />Page 4 of 7 <br />