12 Zoning; Public HearingCITY COUNCIL AGENDA ITEM BRIEFING SHEET
Submittal Date:
Originating Department:
Presented By:
Agenda Item No.:
04/20/09
Planning & Zoning
Shawn Napier, P.E., Director of
Council Date:
Commission
Engineering, Planning and
12.
04/27/09
Development
RECOMMENDED MOTION:
Not an action item - public hearing and first reading
POLICY ISSUE(S):
Zoning; Public Hearing
BACKGROUND:
Jeff Martin has requested that the zoning on the property located on Lots part of 9 and 9A, City Block
331, being located in the 3700 block of Bonham Street be changed from a Planned Development District
(PDa-f) Retail Shopping Center or Office Center to a General Retail District (GR) for the purpose of
building a Subway restaurant.
Mr. Martin and one citizen spoke in favor of this request. No one spoke in opposition to this request.
This item was approved by Planning and Zoning.
BOARD/COMMISSION RECOMMENDATION:
The Commission recommended approval of this request by a vote of 4-0.
EXHIBITS:
Ordinance, location aerial and photos
ACTION:
BUDGET INFO:
❑ Financial Report ❑ Minute Order
Expense
$
❑ Department Report ❑ Resolution
Budgeted Amt.
$
❑ Presentation ~ Ordinance
y'I'D Actual
$
~ Public Hearing ❑ Other
Acct. Name
Acct. Number
FISCAL NOTES:
REVIEWED AND APPROVED BY:
Z Administration Z Ciry Clerk Z Communiry Development ❑ EMS/IT ❑ Finance ❑ Fire
❑ Municipal Court Z Legal ❑ Library ❑ Police Z Eng./Public Works ❑ Utilities
City of Paris 'w, 000061 Revised 2/04/08
DRAFT
F:ALICE\0RDW0RK\C1JRRENT\4-27-09 Zoning Ords
ORDINANCE NO.
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS,
AMENDING ZONING ORDINANCE NO. 1710 OF THE CITY OF PARIS,
TEXAS, AS HERETOFORE AMENDED, SO AS TO REZONE PART OF LOTS 9
AND 9A, CITY BLOCK 331, LOCATED IN THE 3700 BLOCK OF BONHAM
STREET, CITY OF PARIS, LAMAR COUNTY, TEXAS, FROM A PLANNED
DEVELOPMENT DISTRICT (PDa-f) TO A GENERAL RETAIL DISTRICT (GR)
DIRECTING A CHAIVGE ACCORDINGLY IN THE OFFICIAL ZONING MAP OF
THE CITY; PROVIDING A REPEALER CLAUSE, A SAVINGS CLAUSE, A
SEVERABILITY CLAUSE, A PENALTY CLAUSE, AND AN EFFECTIVE DATE.
WHEREAS, the Planning & Zoning Commission received a request for an
amendment to the Zoning Ordinance of the City of Paris to rezone Part of Lots 9 and 9A,
City Block 331, City of Paris, Lamar County, Texas from a Planned Development District
(PDa-0 to a General Retail District (GR); and,
WHEREAS, on April 6, 2009, the Planning and Zoning Commission conducted a
public hearing on the proposed amendment to the City zoning ordinance and, following
said hearing, made formal recommendation to the Ciry Council to approve the requested
zoning; and,
WHEREAS, on April 27, 2009, following notice and publication as required by law,
the City Council of the City of Paris conducted a public hearing on the proposed
amendment to the City zoning ordinance, and having considered the recommendations of
the Planning and Zoning Commission and the testimony and evidence introduced at said
public hearing, found and determined that approving the aforesaid zoning change would be
consistent with the comprehensive plan of the City of Paris, consistent with the City zoning
ordinance, and in the best interests of the public health, safety, and welfare of the citizens
of the City of Paris.
NOW, THEREFORE, BE IT ORDAIIVED BY THE CITY COUNCIL OF THE CITY OF
PARIS, TEXAS:
Section 1. That the findings set out in the preamble to this ordinance are hereby in
all things approved.
Section 2. That the Official Zoning Map of the City of Paris, Texas and Zoning
Ordinance No. 1710 of the City of Paris as heretofore amended is hereby further amended
to rezone Part of Lots 9 and 9-A, City Block 331, located in the 3700 block of Bonham
Street, City of Paris, Lamar County, Texas, from a Planned Development District (PDa-0
Retail Shopping Center or Office Center to a General Retail District (GR), said property
0,- 000062
being more particularly described in Exhibit A attached hereto and made a part hereof.
Section 3. That the Chief Building Official of the City of Paris be, and he is hereby,
directed to change the Official Zoning Map of the City of Paris, Texas to reflect the changes
set forth in this ordinance.
Section 4. That all provisions of the ordinances of the City of Paris, Texas in conflict
with the provisions of this ordinance are hereby repealed, and all other provisions of the
ordinances of the City of Paris not in conflict with the provisions of this ordinance shall
remain in full force and effect.
Section S. That the repeal of any ordinance or part of ordinances affected by the
enactment of this ordinance shall not be construed as abandoning any action now pending
under or by virtue of such ordinance or as discontinuing, abating, modifying, or altering
any penalty accruing or to accrue, or as affecting any rights of the municipality under any
section or provisions of any ordinance at the time of passage of this ordinance.
Section 6. That it is the intention of the City Council of the City of Paris that this
ordinance, and every provision hereof, shall be considered severable, and the invalidity or
partial invalidity of any section, clause, or provisions of this ordinance shall not affect the
validity of any other portion of this ordinance.
Section 7. That any person violating any provision of this ordinance shall be guilty of a
Misdemeanor, and upon conviction, shall be subject to a fine in accordance with provisions of
Sec. 1-6 of Chapter One of the City of Paris Code of Ordinances, and each and every day's
continuance of any violation of the above-enumerated sections shall constitute and be deemed
a separate offense.
Section 8. Introduced and read on first reading on April 27, 2009, at a regular
meeting of the City Council of the City of Paris and read and passed on second reading on
May 11, 2009, at a regular meeting of the City Council of the City of Paris; the same being
two (2) separate regular meetings of the Ciry Council of the City of Paris.
1or]
Section 8. That the City Council voted by a supermajority vote of the entire Council
to suspend the rule requiring two readings before adoption of ordinances ayes and
_ nays.
Section 9. That this ordinance shall become effective from and after its passage of the
second[f'irst] reading and publication as required by law.
PASSED AND ADOPTED on by the city Council of the city of Paris, in regular session
on this the 11th day of May, 2009.
Jesse James Freelen, Mayor
-w 000U63
ATTEST:
Janice Ellis, City Clerk
APPROVED AS TO FORM:
W. Kent McIlyar, City Attorney
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COMMUNITY DEVELOPMENT DEPARTMENT
P. 0. Box 9037 ■ Paris, Texas 75461 ■ 903-784-9234
APPLICATION FOR ZONING CHANGE
TYPE OF ACTION REQUESTED: A5 Zoning Change
PROPERTY INFORMATION:
Address:
1700 Block Bonham
For Office Use Onl Request Number: -vi
Date Rcvd: Mtg Date: q
O Specific Use Permit ❑ Planned Development
Name of Business or Building (if appiicable): Vacant Lot
Part of 9
Lot & 9A Block 331 subdivision N/A City Block (Tract 1& Tract 2 as shown on drawing)
Current Zoning: pDa-f Proposed Zoning:
l
What is the proposed use of the property? Restaurant
Describe the character and/or nature of uses of surrounding property. Vacant - wooded
Will the re-zoned designation be compatible with the classification and use of adjoining lands? Yes AV
If No, how do you propose to reduce any adverse impact?
Is the tract unsuitable for uses permitted under the present zoning classification? Yes
If No, why are you requesting a change in the permitting uses?
OWNERIAPPLICANT INFORMATION: (urou ..e not the owner, s permisslon /etfarlrom fhe owner Is requlrad. If you are purchasing the property, a copy ol
the contracfmay bo used In fleu ol a permisslon letterONLYlF Ihe contracf provldes fhat the purahase Is contingent upon the appllcant successlully obtalning a zoning
cbange.)
ApplicanYs Name: Jef f Martin
AppiicanYsAddress: 5950 Lamar Road, Reno, TX 75462 Phone: (903) 785-4677
Property Owner's Name: Mary Montgomery
Property0wner'sAddress: P.O. Box 6517, Paris, TX 75461 Phone: (903) 784-8091
■~~~~e~~~~~~~~~~~~~~~~t~~~~~~~~~~~~~~r~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~s~~~e~~~~~~e~~~~~~~~~~~~~~~~~~~~■
REQUIRED SUBMITTALS (check those items which are included):
0§ Completed appiication signed by the owner/applicant If Planned Development requested, include also:
3 Copy of a deed with metes and bounds ❑ Four (4) copies of a preliminary site plan
(ffi Permission letter from owner
M Copy of contract to purchase the property
i have carefully read the complete application and know the same is true and correct. I hereby agree to comply with all provisions of local,
State, and Federal Laws wiil b omplied with, whether herein specified or not. I certify that I am the owner of the above property or his
duly authorize ag
Signed: ~ t #~~k Address: 5950 Lamar Road, Reno, TX 75462
903 78 -
PrintName: e Martin Phone Number:
Date: March 17, 2009 _ Fax Number: 903 785-5206
SWORN TO AND SUBSCRIBED BEFORE ME this ~~ay of 022 Ck , 200a
. . ~
ota
re U
EC~ ~ ~ ~ MOlt~t Pt1bM'.. ~t Ot Tl71n 12/06
FILED:
~`AR ~ ry M~rCO11M11iNi0R ~ 4, Et~i1":
8s~ « '~Q~~
BY; , aM 000068
AUTHORIZATION FOR CHANGE OF ZONING REQUEST
I authorize Jeffrey Martin and Larry Martin to seek a change in zoning on the below
referenced property to allow for the construction and operation of a free standing fast
food restaurant with a drive-thru.
Legal Description: City of Paris, Block 331, Lot 9-A & 59.9' of lot 9, corner of Loop 286
and Highway 82 West, .9213 Acres. See attached.
Mary Montgomery
6r
0,000-69
03118+121009 11:56 90~~ l8551Ub uai+irtrc UHIYJ Mv JHLCJ -u- -
MARTTN StJBWAYS
JEFI' MARTIN CO-OWNER
5950 LAMAR RD
PA.WS, TX 75462
CITY OF PARIS
ATTN: GINA
RE: 70NING CiIA.NGE StE QU'EST BONHAM & LOOP
This ietter providcs permission to cllange tiie xnniyig request for the above l.ocati.b»• t
would like co ehange my zonang xequest from COIvIMEIZCIAL to GENERIIL RETAIL.
I t is n:iy undErstanding tliat a free standin.g restauzarzt with drive thru is allowed iza
genetal retail.
Thank You,
WIAX4A,
Jcff Martin, Co-Qwner
Martin Subays
'w 000070
L 30~d
i 1113SMi 335
S~Dy-8tS
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c _201i2
GENERAL WARRANTY DEED
THE STATE OF TE7US S
KNOW ALL MEN BY TfiESE PRESENTS:
COUNTY OP IAMAR S
That PARIS INDEPENDENT SCHOOL DISTRICT, acting by and
through the Preeident of ite Board of Trusteee, William R.
Lancaster, duly suthorized, of the County of Lamar, State of
Teacas, for and 1n consideration of the sum of Ten and No/100
Dollare ($10.00) caeh and other good and valuable
conaideration, to ue in hand paid by NORMAN MONTGOMERY the
receipt and aufficiency of which ie hereby acknowledged+
have Granted, Sold and Conveyed, and by these presenta do
Grant, Sell and Convey unto the said NORMAN MONTGOMERY of
the County of Lamar, State of Texas, whose mailing addrees
ia 2940 Kessler Drive, Paris, Texas 75460, all of its
one-half (k) undivided interest in and to that certain tzact
or parcel of land aituated in Lamar County, Texas, and
deacribed as followa:
A part of the Isaec Cruise Survey 1162, and
being a part of a 16.425 acre tract of land
conveyed Jim F. Kizby and J. Michael Henderaon by
deed recorded in Vol. 631, page 264, of the Deed
&ecords of said County and State, one-half (1)
undivided interest of eaid 16.425 acre tract being
conveyed to the Paris Independent School District
as recorded in Vol. 709, Pege 999, of said Deed
Recorda.
BECINNING at an iron pipe (f) for corner at
an el corner of said 16.425 acze [ract, said point
being the Northeast corner of a 0.714 acre tract
of land conveyed Jim F. Kirby and J. Michael
Henderson by deed recorded in Vol. 662, Page 118,
of said Deed Recordst
THENCE South 0 Deg. 02 Min. Weat a distance
of 150.3 ft, to an iron pin (s) for corner at the
moet Southerly Southwest corner of eaid 16.425
acre tract and the Southeast corner of said 0.714
acre tracti
THENCE South 89 Deg. 56 Min. East elong the
North Boundary Line of Bonham St. a distance of
59.9 ft, to un iron pin (s) for comeri
THENCE North 0 Deg. 02 Min. Eaet a diatance
of 150.3 ft. to an iron pin (s) foz corner;
THENCE North 89 Deg. 56 Min. WesC a diatance
of 69.9 ft. to the place of beginnin3g and
containing 0.2067 acres of land or 9,003 ft- _
n~ ~
O
RP 2 1 PALEI6O
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Real Property 21 Page 160
.4w 000072
i ,
TO HAVE AND TO HOLD the above deacribed premiaes,
! together with all and eingular, the righta and appurtenances
~ thereto in anywise belonging unto the eaid NOitMAN
MONTGOMERY, hie heira and assigna foreveri and 1t does
hereby bind itself, ita euccesaora and eaeigne, to Warrant
• and Forever Defend all and aingular the said premises unto
the esid NORMAN MONTGOMERY, hie heira and asaigna, againat
every pereon whomaoeves lawfully claiming, or to claim the
same, or any part thereof.
WITNESS our handa at Yaris, Texae, this ~ day of
Marctv A.D. 1988.
PARIS INDEPENDENT SCAOOL,DISTRICT
~A3'~` , res eac
Board of Truatees
ATTEST:
ov e ravee, ecretary
THE STATE OF TEXAS i
COUNTY OF LAMAR S
BEFORE ME, the undereigned authority, in and for eaid
County, Texas, on this day peraonally appeared William E.
Lanceater, known to me to be the pereon whose name ie
subscribed to the foregoing inetrument, and acknowledged to
me that he executed the eame for the purposea and
coneideration therein expreased.
GIVENf UNDER MY HAHD AND SEAL OF OFFICE, this ~ dgy
of /~Ori A.D.. 1988. ~
ary c, 5tata ot wexas
inted Name:
Hy commission expizes: 7
P " r .i6-1
Real Property 21 Page 161
~140 *Uoj~, ~
04 000073
- s"ioy -gg
20'~^
. _
GENERAL WARRANTy DEED
THE STATE OF TEXAS s
COUNTY OF I.AMAR ; KNOW ALL MEN BY THESE PRESENTS:
That We, JIM F. RIRBY of Dallae Coiurty, Texee, and J.
MICHAEL HENDERSOH of the County of Oklahoma, State of
Oklahoma, foz and in consideration of the aum of Ten and
No/100 Dollare ($10.00) caeh and other good and valuable
conaideration, to us in hand paid by NORI'•AN MONTGOMERY the
receipt and sufficiency of which ie hereby ackaowledgedi
have Granted, Sold and Conveyed, and by these presenta do
Grant, 5e11 and Convey unto the said NORMAN MONTGOMERY of
the County of Lamar, State of Texas, whoae mailing addreas
ia 2940 Keesler Drive, Paris; Texas 75460, all that certain
tract oz parcel of land aituated in Lamer County, Texas,
deacribed in Tract I below and all our one-half
undivided intcrest in and to Tract ZI described below, eaid
tracta being described ae foiloWa:
TRACT I
Situated vithin the Corporate Limite of the
City of Paris. County of Lamar, and State of
Texas, a part of the Isaac Cruise 5urvey $162, and
being a 0.714 acre tract of land conveyed Jim F.
Kirby and J. Michael Henderson by deed recorded in
Vol. 662, Page 118, of the Deed Records of said
County and State.
BEGINNING at an iron pipe (f) for corner at
the Northeast corner of said 0.714 acze tract,
said point being an el corner of a 16.425 acre
tract of land conveyed Jim F. Kirby and J. Michael
Henderson by deed recorded in Vol. 631, Page 264,
of the Deed Recorde of said County and State.
THENCE North 81 Deg. 45 Min. West a diatance
of 214.1 ft, to an iron pin (f) for corner at the
Northwest corner of said 0.714 acre tract, and the
moet Westerly Southwest corner of eaid 16.425 acre
tractt
THENCE along the Easterly Boundary Line of
Loop Hwy. 286 as followa: South 5 Deg. 29 Min.
East a dietance of 101.5 ft. to a concrete marker
(f) 1 South 39 Deg. 56 Min. Eaet a diatance of
104.1 ft. to a concrete marker (f) for corner at
the Southweat corner of said 0.714 acre tracti
THENCE South 89 Deg. 56 Min. East along the
North Boundary Line of Bonham St., a distance of
135.2 ft. to an iron pin (e) for corner at the
Southeaet corner of said 0.714 acre tract and the
most Southerly Southweat corner of saiekn_ E~16.425_ „
acre tractt r-
THENCE North 0 Deg. 02 Min. Eaet a i~a ncgl
of 150.3 ft. to the place of beginning d';con?„p
taining 0.7146 acree of land.
cz
-a
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RP 21PA6E162 ~
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Real Property 21 Page 162
~0
"0 000074
,
TRACT II
Situated within the Corporate Limits of the
City of Yaris, County of Lamar, and S[ate of
Texae, a part of the Ieeac Cruiae Survey 1162, and
being a part of a 16.425 acre tract of land
conveyed Jim F. Kirby and J. Michael Hendereon by
deed recorded in Vol. 631, Page 264, of the Deed
Records of said County and State, one-half (h)
undivided interest of said 16.425 acre tract being
conveyed to the Paria lndependent 5chool Diatrict
as recorded in Vol. 709, Page 999, of said Deed
Recorda.
BEGINNING at an iron pipe (f) for corner at
an el corner of said 16.425 acre tract, said point
being the Noz'theast corner of a 0.714 acre tract
of land conveyed Jim F. Kirby and J. Michsel
Hendereon by deed recorded in Vol. 662, Pege 118,
of said beed Recordst
THENCE South 0 Deg. 02 Min. West a dietance
of 150.3 ft. to an iron pin (e) for cozner at tha
moet Southerly Southweet corner of said 16.425
acre tract and the Southeast corner of eaid 0.714
acre tracti
THENCE South 89 Deg. 56 Min. East along the
North Boundary Line of Bonham St, a dietancie of
59.9 ft, to an iron pin (s) for cornerl
THENCE North 0 Deg. 02 Min. Eaet a diatance
of 150.3 ft. to an iron pin (s) for comert
! THENCE North 89 Deg. 56 Hin. Weet a diatance
i of 54.9 ft. to the place of beginning and
! containing 0.2067 acree of land or 9.003 eq. ft.
I~ TO HAVE AND TO HOLD the above deecribed premises,
i
together vith all and eingular, the righte and appurtenances
thereto 1n anywiee belonging unto the said NORMAN
MONTGOMERY, hie heirs and a¢eigna foreverl and we do herebq
i
bind ouraelves, our heirs, executora and administrators, to
Warrant and Forever Defend all and singular the said
! premiseo unto the said NORMAN MONTGOMERY, h1e heirs and
aeaigna, againat every peraon vhomaoever lawfully claiming,
I
or to cleim the same, or any part thereof.
WITNESS our hands at Paris, Texae, this ~ay of
~ April, A.D. 1988.
`
KIRBY
I •
i .
21PALEl63
I
i.
t.
Real Property 21 Page 163
w." 000075
_ J
,
.
TtE STATE OF TEXAS s
COUNTY Dg LAMAR f
I
BEFORE ME, the undereigned authoritp, in and for aeid
County, Texae, on thie day pereonally appeared JIM P. KIRBY,
known to me to be the person whoae name ie eubecribed to the
~ foregoing ina[rument, and acknosoledged to me that he
j executed the eame for the purpoeea and coneideration therein
expreeeed.
GIVEN UNDER MY HAND pDTD SEpL OF OFFICE, thisz?AQ/day
E April, A.D., 1988.
. ,
Oi.s .12,
roLary u c'tate o exae
Printed Name:,l;//,;y„~ .Kr.S/
My CommiBaion xp ree; f:>9-9/
i
THE STATE OF NEW YORR s
COUNTY OF ~ s
BEFORE ME, the undersigned authoritq, in and for eaid
County, New York, on thia day pereonally appeared J. MICHAEL
HENDERSON, known to me to be the person whose name ie
eubscribed to the foregoing inetrument, and acknowledged to
me that he executed the same for the purpoeea and
conaideration therein expreseed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this 11fA day
~ of April, A.D., 1988,
i ~ -
, t MORTON E1. EEr:tuH
NdMyPublk,St~,-eofNcKOWHc OtflZY II C, ' tBtE O EW OT —
Printed Name:
My Commieaion xp ree:
, . , -.,~`•~.,-~i-tsa
RP 21ppGEt64
I '~xnam
! ~,n,, ~.x4o ~~yt~
Real Property 21 Page 164
000076
`
TEXAS ASSOCIATION OF REALTORS@
COMMERCIAL CONTRAC~T TMUNsMPR'OVED PROPERTY
USE OF THIS FORM BY PERSONS V~MO AR Texas Asaxiatlon of RFAL70RSO, InG 2M5 Para PARTIES: Seiler agrees to seil and convey to Buyer the Pr ara~~ah descriThe part es go th s contract a9eees
to buy the Property from Seiler for the sales pnce stated in P g p
Seiler: Mar Mont ome
Address:P.o BoX 6517 Paris TX 75461
Phone: Fax:
E-mail: nmontgomerv@ s d enlink. n t
in
BUyer: J f f r M r in an Larr
Address:595o Lamar Avenue Paris TX 75462
Fax:
Phone: 903 .739-0729
E-maiL
2. PROPERTY: County, Texas at
L
A. 'Prope~ty" means that real property situated in
Corner of Loo 286 and H 82 West Or aS f0110WS:
1-A
'(address) and that is legally described on the attached Exhibit
City of Paris, Block 331, Lot 9-A & 59.9' of Lot 9, Corner of Loop 286
and Highway 82. West, .9213 acres.
g, Seller will sell and convey the Prou~enanceshperta n~ing to the Property; including Seller's right, title,
(1) all rights, privileges, and app
and interest in any minerals, rents, utilities, and s adj e
a d ,
(2) Seller's interest in all leases curitY tdepos'ts for all op part of the Property~ y~
(3) Seller's interest in all licenses and permits related to the Property.
(Describe any exceptions, reservations, or restrictions in Paragraph 12 or an addendum.)
3. SALES PRICE:
A. At or before closing, Buyer will pay the following sales price for the ProperEy:
$
$ -
(1) Cash portion payable by Buyer at closing . • • • • • • • • • • • • . . . .
(2) Sum of all #inancing described in Paragraph 4 . . . . . . . . . . . . • • . • • • • (3) Sales price (sum of 3A(1) and 3A(2)) . • • • • • • • • • • • • • ' ' ' ' ' ' ' ' $
~nd Seller~id' Page 1 of 12
AR-1802) 10-18-05 Initialed for ldentification by Buyer*
R
Coldwell Bankor 3749 Lamar Av Faar,s~903~ ~526 9172 Ch~ BrOW° ww zioLoolx.com
Ix 18070 Fifteen Mile Road, Fraser, Michigan,48026
Phonc: (903) 782 - 9800 ~
Produced with ZipFortr~ by ZiPL~9 000077
~
Montgomery - M
Commercial Contract - Unimproved Property Concerning Corner of Loo 286 arid H 82 West
B. Ad'ustment to Sales Price: (Check (1) or (2) only.)
~(1) The sales price will not be adjusted based on a survey. -
❑(2) The sales price will be adjusted based on the latest survey obtained under Paragraph 6B.
per: .
(a) The sales price is calculated on the basis of $
❑(i) square foot of ❑ total area 0 net area.
❑ t tal area ❑ net area.
4
~ A. Third Partv Financina
This contract:
❑(1) is not contingent upon Buyer obtaining third party f financg in accordance with the attached
~(2) is contingent upon Buyer obtaining third party 9 .
Commercial Contract Financing Addendum.
❑ B. Assu in accordance with the attached Commhe Adncedenat c I si guyw II bel
assume the existing promissory note secured by Perty
$ '
❑ C. Sell= ncin : The delivery of a promissory Addendumf trust from of ~to Seller under the
terms of the attached Commercial Contract Financin9
5. EARNEST MONEY:
A. Not later than 3 days after the effective date, Buyer must deposit 000 00 - as earnest
money with Stone Title Com an 4
(escrow agent) at 33 NW is t. Par' s X 7560
(address). If Buyer fails to timely deposit the earnest money,
Seller may terminate this contract by providing S under Par graphB 5 er before Buyer deposits the
earnest money and may exercise Seller s remedie With the escrow agent to be made
B. Buyer will deposit an additional amount of $
part of the earnest money on or before:
0 (i) days after Buyers right to terminate under Paragraph 76 expires; or
❑ (ii)
Buyer will be in default if Buyer fails to deposit the noltitimely deposited the additiothis nal amountPh 5
within 3 days after Seller notifes Buyer that Buyer has
C. BuYer may instruct the escrow agent to deposit the ea t eest to Bu er an interest-bearing account at a
federally insured financial institution and to credit any in
z8v
y~,, Page 2 of 12
AR-1802) 10-18-05 Initialed for ldentification by Buye~ and SelledQ
~ U ~
www zioLoaix.com Montgomery - M
produced with ZipForm~ by zipLogix 18070 Fifteen Mile Road, F2ser, Michigan 48026
. 000078
❑ (n) acre of o
(b) "Total area" means all land area within the perimeter boundaries of the Property. "Net area"
means total area less any area of the Property within:
❑ (i) public roadways;
❑(ii) rights-of-way and easements other than those that directly provide utility services to the
Property; and
❑ (iii)
% of the stated sales price, either party
(c) If the sales price is adjusted by more than
may terminate this contract by pro sid he sur rven tneither party terminates this contract or f the
after the terminating party receive Y. If
variance is less than the stated percentage, the adjustment to the sales price will be made to the
cash portion of the sales price payable by Buyer.
FINANCING: Buyer will finance the portion of the sales price under Paragraph 3A(2) as follows:
: One or more third party loans in the total amount of $
Corner of Loo 286 and H 82 West
Commerciai Contrad - Unimproved Property Concerning
6. TITLE POLICY AND SURVEY:
A. Title PoiP,!:
(1) Seller, at Seller's expense, will furnish Buyer an Owner's Policy of Title Insurance (~tltieiclompany)
ISSUed by Stone Title Com an
in the amount of the sales price, dated at or after closing, insuring Buyer against loss under the title
policy, subject only to: roved b Bu er in writing; and
(a) those title exceptions permitted by this contract or as may be app Y Y
(b) the standard printed exceptions contained in the promulgated form of title policy unless this
contract provides othenrvise.
(2) The standard printed exception as to discrepancies, ove~ment .in area and boundary
lines, or any encroachments or protrusions, or a y overlaPpin
* (a) will not be amended or deleted from the title policy.
❑(b) will be amended to read "shortages in areas" at the expense of ❑ Buyer ❑ Seller.
(3) Buyer may object to any restrictive covenants on the Property within the time required under
Paragraph 6C.
(4) Within 14 days after the effective des ecordedfdocumg t eev denc ng titletexfor ce~ptionsuSellee
(the commitment) including legible cop eS o
authorizes the title company to deliver the commitment and related documents to Buyer at Buyer's
, address.
da s after the effective date:
B. Surve : Within Y
a survey of the Property at Buyer's expense and deliver a copy of the survey fo
❑(1) Buyer will obtain.
Seller. The survey must be made in accordance with the Texas Society of Professional Suroeyors'
standards for a Category 1A survey under the appropriate condition. after ❑(2) Seller, at Seller's expense, will fumish Buyer i{~ the TexasrSoci~ety of Profess onaleSurveyors'
The survey must be made in accordance
standards for a Category 1A survey under the appropriate condition.
W.(3) Seller will deliver to Buyer and the title i mpany 8 true analong w'th an affidav tlrequ re'dtbythe title
of the Property dated Janu~rv Seller, at
company for approval of the su NeIf e to the t tle pcomlpanytanditdeli err theyacceptable
Seller's expense, will obtain a suY acceptbl
survey to the Buyer and the title company Within 15 days after Seller receives notice that the
w thin the time e ed ed daily up to
existing survey is not acceptable to the titlept b e closingidate
15 days if necessary for Seller to deliver an acep
C. Bu ~er's Obiections to the Commitment and Surve : ments Within 5 days after Buyer receives the commitment, copn W tlnhe docu
matters d sc osed in
~1> thE
title exceptions, and any required survey, Buyer may object i 9 to thosE items if: (a) the matters disclosed constitu~ill satiseCing obBuyer willtassu eeat closing; o
permitted by this contract or liens that Seller fY at clos
(b) the items show that any part of the Property lie~ies specialdeemedflood
receive the survey or
zone as defined by FEMA). If Paragraph 6B(1) app , BuYer
the earlier of: (i) the date of Buyer's actual receipt of the survey; or (ii) of the ;deadline specified ir
Paragraph 6B.
(TAR-1802) 10-18-05 Initialed for ldentification by BuyeAk, ` and Seller/Ol Page 3 of 1:
Produced with ZipFortn(g) by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLoqix.com Montgomery - i
- 0O(1079
r.nmmerciai Contract - Unimproved Property Concerning Corner of Loo 286 and H 82 West
(2) seller may, but is not obligated to, cure Buyer's timely objections within 15 days after Seller receives
the objections. The closing date will be extended as necessary to provide such time to cure the
objections. If Seller fails to cure the objections by the time required, Buyer -may terminate this
cure
contract by pS ~fdB 9 e hteeminates, the eamesithmoney, less any ndependent c ns dleeat onsunder
the objection y
Paragraph 76(1), will be refunded to Buyer. ,
(3) Buyer's failure to timel.y object or terminate under this Paragraph 6C is a waiver of Buyer's right to
object except that Buyer will not waive the requirements in Schedule.C of the commitment.
7. PROPERTY CONDITION:
A. Present Condition: Buyer accepts the Property in its present condition except that Seller, at Seller's
expense, will complete the following before closing:
' Ys after the
B. Feasibilitv Period: Buyer may terminate this contract for any reason within 60 da
effective date (feasibility period) by providing Seller written notice of termination. (Check only one box.)
W(1) If Buyer terminates under this Paragraph 76, the earnest money will be refunded to Buyer less
$ 100.00 that Seller will retain as independent consideration for Buyer's unrestricted
right to terminate. Buyer has tendered the independent consideration to Seller upon payment of the
amount specified in Paragraph 5A to the escrow agent. The independent consideration is to be
credited to the sales price only upon closing of the sale. If no dollar amount is stated in this
paraaraoh 713(1) or if Buyer fails to timelv deposit the eamest monev Buver will not have_the riqht to
as
❑(2) Not later than 3 days after the effective date, Buyer must pay Seller $
independent consideration for Buyer's right to terminate by tendering such amount to Seller or
Seller's agent. If Buyer terminates under this Paragraph 76, the earnest money will be refunded to
Buyer and Seller will retain the independent consideration. The independent consideration will be
credited to the sales price only upon closing Lof the sale~ If +no tlol a ~ a on uBuverSwill notnhavle
C. Inspections Studies, or Assessments:
(1) During the feasibility period, Buyer, at Buyer's expense, moY~ mpncludincallS mpro ementsl and
any and all inspections, studies, or assessments of the Pr pey( 9
fixtures) desired by Buyer.
(2)
Buyer must:
(a) employ only trained and qualified inspectors and assessors;
(b) notify Seller, tn advance, of when the inspectors or assessors will be on the Property;
(c) abide by any reasonable entry rules or requirements of Seller;
(d) not interfere with existing operations or occupants of the Property; and
(e) restore th ts P~aP Buysl oal cucondition ses to bei c mpleteddue . to inspections,
assessmen Buyer complte
studies, or
ll ' ents Buyer
(3) Except for those matters that arise from the negligence of Seller or Seers ag, is
responsible for any claim, liability, encumbrance, cause of action; and expense resulting from
Page 4 of 12
"'and Seller00 dD
(fAR-1802) 10-18-05 Initialed for ldentification by Buyer.~,
Montgomery - M
Produced with ZipFortnV by zipLogix 18070 Fifteen Mile Road, fraser, Michlgan 48026 www zipLoaix.com
~ 00l!l!OD
Commerciai Contract - Unimproved Property Concerning Corner of Loo 286 and Hw.y 82 West
Buyer's inspections, studies, or assessments, inciuding any property damage or personal injury.
claim
Buyer will inderrinify, hold harmlesss es ible undeerth sdpa Seller's Th sS paagainst ragraph survives
mvolving a matter for which Buyer i pons
termination of this contract.
D. Propertv Information:
(1) Qg;;v°^vof Propertv Information: Within - days after the effectiVe date, Seller will deliver to
Buyer: lements,
❑(a) copies of all current leases pertaining to the Property, including any modifications, supp
or amendments to the leases;
❑(b) copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller
will not pay in full on or before closing;
10 (c) copies of all previous environmental assessments, geotechnical reports, studies, or analyses
made on or relating to the Property; ❑(d) copies property tax statements for the Property for the previous 2 calendar years;
C] (e) plats of the Property;
❑(f)i copies of current utility capacity letters from the Property's water and sewer service provi er;
and
0 (9)
(2) RPturn of Propertv Information: If this contract terminates for any reason, Buyer will, .not later than
10 days after the termination date: (a) reteS thaSBlueal made of those 'tems; and (b) de ver cop'ies
that Seller delivered to Buyer and all copi Ye
of all inspection and assessment reports related to the Property that Buyer completed or caused to
be completed. This Paragraph 7D(2) survives termination of this contract. nner E. Contracts Affectina Operations: Until closingent busine ss istand adst and (2j w II n samansfee o ad spose
ther
on the effective date under reasonably prud
of any part of the Property, any interest or rig ~tthis the contract After the feasibe ity per od propertds, Selle ~may
items described in Paragraph 26 or sold unde
not enter into, amend, or terminate any other contract that affects the opetations of the Property without
Buyer's written approval.
8. LEASES: e.in
and A. Each written lease Seller is to assign to Buyeru n W jease fa I to complybwith any ez sting leaseeor
according to its terms. Seller may not enter into any
make any amendment or modification to any existing Seller prov des the Sebller
disclose, in writing, if any of the following exist at te
subsequently occur before closing: leases; (1) any failure by Seller to co nly with thlat obligations
t nantdto term nate the lease or seek any offsets
(2) any circumstances under ay lease
or damages;
(3) any advance sums paid by a tenant under any lease;
(4) any concessions, bonuses, free rents, rebates, brokerage commissions, or other matters that affect
any lease; and
(5) any amounts payable under the leases that hav s cbeen ontractigned or encumbered, except as security
for loan(s) assumed or taken subject to under th estop B. Esto el Certificates: Wthin days after the effective date, S py eaclh tenlant th a leases spap eI
certificates signed not earlier than
in the Property. The estoppel certificates must state:
E----nd Sellerd2a,CE5n- Page 5 of 12
(fAR-1802) 10-18-05 Initialed for ldentifcation by Buyer~_K.
Montgomcry - M
ProduCed with ZipForm(D by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 wYnv zipLoqix com
- 000081
Corner of Loo 286 and H 82 West
Commercial Contract - Unimproved Property Concerning
(1) that no defauit exists under the lease by the landlord or tenant as of the date the estoppel certificate
is signed;
(2) the amount of the scheduled rents to be paid through the end of the lease and any rental paymen s
that have been paid in advance;
(3) the amount of any security deposit;
(4) the amount of any offsets tenant is entitled against rent;
(5) the expiration date of the lease;
(6) a description of any renewal options; and
(7)
g. BROKERS:
A. The brokers to this sale are:
Cooperating Broker License No.
Address Fax
Phone
Coldwell Banker Reaional Realtv
Principal Broker License No
749 Lamar Avenue
Address
Paris TX 75460
(903)782 9800 (903) 782-9172
Fax
Phone
E-mail:chad.brown@coldwellbanker.com
E-mail:
' Cooperating Broker represents buyer. Principal Broker: (Check only one box.)
❑ represents Seller only.
0 represents Buyer only.
p is an intermediary between Seller and Buyer.
B. Fees. (Check only one box.) reement ❑(1) Seller will pay Principal Broker the fee Sa~ Broker bwill pay Cooperat ng Broker the fee9sp c fed
be fi n r e e n P r i n c i p a l B r o k e r a n d S e l l e r. P r i n cIp
in the Agreement Between Brokers found below the parties' signatures to t his c o n t r a c t. ,
❑(2) At the closing of this sale, Seller will pay:
Cooperating Broker a total cash fee of: Principal Broker a total cash fee of:
~ % of the sales price. ❑ % of the sales price.
~ ' ❑ .
The cash fees will be paid in County, Texas. Seller authorizes
escrow agent to pay the brokers from the Seller's proceeds at closing-
NOTiCE: Chapter 62, Texas Property Code, authorizes a broker
with a lien against the Property.
C. The parties may not amend this Paragraph 9 without the written consent of the brokers affected by the
amendment.
10. CLOSING:
A ril 27 2009
A. The closing of the sale wifl be on or before or within 7 days after
objections ma de un d e r P a r a g r a p h 6 C h a v e b e e n c u r ed or waived, whichever date is later (the closing
date).
B. If either party fails to close by the closing date, the non-defaulting party may exercise the remedies in
Paragraph 15. ~,.,n pa9e s or 12
Initialed for ldentifcation by Buyer~, and Seller00 1~~ .
(fAR-1802) 10-18-05
Produced with ZipForm@ by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www zipLoaix com Montgomery - -V
000082
Commercial Contract - Unimproved Property Concerning Corner of Loo 286 and H 82 West
C. At ciosing, Selier will execute and deliver, at Sellers expense, aM general ❑ special warranty
deed. The deed must include a vendor's lien if any part of the sales price is financed. The deed must
convey good and indefeasible title to the Property and show no exceptions other than those permitted
under Paragraph 6 or other provisions of this contract. Seller must convey the Property:
(1) w i t h no liens, assessments, or other security interests against the Property which will not be
satisfied out of the sales price, unless securing loans Buyer assumes;
(2) without any assumed loans in default; and
(3) with no persons i~ tepossession nants unde~the wr'tten leases ass gned to Buyer under this cont acterance, or
trespassers excep
D. At closing, Seller, at Seller's expense, will also deliver to Buyer.
(1) tax statements showing no delinquent taxes on the Property;
(2) an assignment of all leases to or on the Property;
(3) to the extent assignable, an assignment to Buyer of any licenses and permits related to the
Property;
(4) evidence that the person executing this contract is legally capable and authorized to bind Seller;
(5) an affidavit acceptable to the escrow agent stating that Seller is not a foreign person or, if Seller is a
foreign person, a written authorization for the escrow agent to: (i) withhold from Seller's proceeds an
amount sufficient to comply applicable tax law; and (ii) deliver the amount to the Internal Revenue
Service (IRS) together with appropriate tax forms; and
(6) any notices, statements, certificates, affidavits, releases, and other documents required by this
contract, the commitment, or law necessary for the closing of the sale and issuance of the title
policy, all of which must be completed by Seller as necessary.
E. At closing, Buyer will: (1) pay the sales price in good funds acceptable to the escrow agent;
(2) deliver evidence that the person executing this contract is legally capable and authorized to bind
Buyer;
(3) sign and send to each tenant in a lease for any part of the Property a written statement that:
(a) acknowledges Buyer has received and is responsible for the tenant's security deposit; and
(b) specifies the exact dollar amount of the security deposit;
(4) sign an assumption of all leases then in effect; and
(5) execute and deliver any, notices,he statements, certifcates, or other documents required by this
contract or law necessary to close t
F. Unless the parties agree otherwise, the closing documents will be as fo.und in the basic forms in the
current edition of the State Bar of Texas Real Estate Forms Manual without any additional clauses.
11. POSSESSION: Seller will deliver possessif hr ted to completep ordinary wear and t a~excepted
in its present condition with any repairs Seller is obli9a
Any possession by Buyer before closing or by Seller after closing that is not authorized by a separate
written lease agreement is a landlord-tenant at sufferance relationship befinreen the parties.
12. SPECIAL PROVISIONS: (Identify exhibit if snec ~iel nl'OVlai P~o red by'Subway Corporation for the
Contract is contingent on locatio g P
construction of a Subway franchised store.
Contract is also contingent on buyer obtaining proper zoning for the
construction of a Subway Restaurant. Seller agrees to cooperate with buyerif
rezoning is necessary.
Buyer will pay buyer's agent commission according to separate agreement.
Seller Page 7 of 12
and~
AR-1802 10-18-05 Initialed for ldentification by Buyer~.
~ > produced with ZipFormG by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoqix.com Montgomery - M
m 000083
Commercial Contract - Unimproved Property Concerning Corner of Loo 286 and H 82 West
13. SALES EXPENSES:
A. Selier's Expenses: Seller wiii pay for the following at or before closing:
(1) releases of existing liens, other than those liens assumed by Buyer, including prepayment penalties
and recording fees;
(2) release of Seller's loan liability, if applicable;
(3) tax statements or certificates,
(4) preparation of the deed; :
(5) one-half of any escrow fee;
(6) costs to record any documents to cure title objections that Seller must cure; 'and
(7) other expenses that Seller will pay under other provisions of this contract.
B. BuYer's Expenses: Buyer will pay for the following at or before closing:
(1) all loan expenses and fees,
(2) preparation of any deed of trust;
(3) recording fees for the deed and any deed of trust;
(4) premiums for flood insurance as may be required by Buyer's lender;
(5) one-half of any escrow fee;
(6) other expenses that Buyer will pay under other provisions of this contract.
14. PRORATIONS:
A. Prorations:
(1) Interest on any assumed loan, taxes, rents, and any expense reimbursements from tenants will be
prorated through the closing date.
(2) If the amount of ad valorem taxes for the year in which the sale closes is not available on the closing
date, taxes will be prorated on the basis of taxes assessed in the previous y.ear. If the taxes for the
year in which the sale closes vary from the amount prorated at closing, the parties will adjust the
prorations when the tax statements for the year in which the sale closes become available. This
Paragraph 14A(2) survives closing.
(3) If Buyer assumes a loan or is taking the Property subject
of t taxese inslu lien, Seller t nd fothelr
reserve d e p o s i t s h e l d b y t he lender for the paymen p
charges to Buyer at closing and Buyer will reimburse such amounts to Seller by an appro p r i a t e
adjustment at closing.
B. Rollback Taxes: If Seller changes the use of the Property before closing or if a denial ot esc or
l
valuation on the Property claimed by Seller results in the assessment of additional taxes, penal
interest (assessments) for periods before closing, the assessments will be the obligation of the Seller. If
this sale or Buyer's use of the Property after closing results in additional assessments for periods before
closing, the assessments will be the obligation of Buyer. This Paragraph 146 survives closing.
C. Rent and Securitv Deposits: At closing, Seller will tender to Buyer all security deposits a l{~enltal
advance payments received by Seller for periods after closing: prepaid expenses, advance rorated
received payments, and other advance PaY paid
ienbto ttenants. he party onwhorn it was p orated wyth nt 5 days after
the other party will be remitted by the ecp
the rent is received. This Paragraph 14C survives closing.
15. DEFAULT:
A. If Buyer fails to comply with this contract, Buyer is in default and Seller may:
(1) terminate this contract and receive the earnest money as liquidated damages, thereby releasing the
parties from this contract; or
(2) enforce specific performance, or seek other relief as may be provided by law, or both.
(TAR-1802) 10-18-05
and SellerQr/J,52DL- Page 8 of 12
Initialed for ldentification by Buyer~f.
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Montgomery - ti1
M 0QOC84
Commercial Contract- Unimproved Properry Conceming Corner of Loo 286 and H 82 West
B. If, without fault, Seiler is unable within the time allowed to deliver the estoppel certificates, survey, or
commitment, Buyer may:
(1) terminate this contract and receive the earnest money, less any independent Consideration under
Paragraph 76(1 as the sole remedy; or
(2) extend the time for performance up to 15 days and the closing will be extended as necessary.
C. Except as provided in Paragraph 15B, if Seller fails to comply with this contract, Seller is in default and
Buyer may:
(1) terminate this contract and receive the earnest money, less any independent consideration under
Paragraph 713(1), as liquidated damages, thereby releasing the parties from this contract; or
(2) enforce specific performance, or seek such other relief as may be provided by law, or both.
16. CONDEMNATION: If before closing, condemnation proceedings are commenced against any part of the
Property, Buyer may:
A. terminate this contract by providing written notice to Seller within 15 days after Buyer is advised of the
condemnation proceedings and the earnest money, less any independent consideration paid under
Paragraph 7B(1), will be refunded to Buyer; or
B. appear and defend in the condemnation proceedings and any award will, at Buyer's election, belong to:
(1) Ssller and the sales price will be reduced by the same amount; or
(2) Buyer and the sales price will not be reduced.
17. ATTORNEY'S FEES: If Buyer, Seller, any broker, or any escrow agent is a prevailing party in any legal
proceeding brought under or with relation to this contract or this transaction, such party is entitled to recover
from the non-prevailing parties all costs of such proceeding and reasonable attorney's fees. This Paragraph
17 survives termination of this contract.
18. ESCROW:
A. At closing, the earnest money will be applied first to any cash down payrnent, then to Buyer's closing
costs, and any excess will be refunded to Buyer.
B. If both parties make written demand for the earnest money, escrow agent may require payment of
unpaid expenses incurred on behalf of the parties and a written release of liability of escrow agent from
all parties.
C. If one party makes written demand for the earnest money, escrow agent will give notice of the demand
by providing to the other party a copy of the demand. If escrow agent does not receive written objection
to the demand from the other party within 15 days after the date escrow agent sent the demand to thE
other party, escrow agent may disburse the earnest money to the party making demand, reduced by the
amount of unpaid expenses incurred on behalf of the party receiving the earnest money and escrow
agenf may pay the same to the creditors.
D. Escrow agent will deduct any independent consideration under Paragraph 7B(1) before disbursing any
earnest money to Buyer and will pay the independent consideration to Seller.
E. If escrow agent complies with this Paragraph 18, each party hereby releases escrow agent from all
claims related to the disbursal of the eamest money.
F. Notices under this Paragraph 18 must be sent by certified mail, return receipt requested. Notices to
escrow agent are effective upon receipt by escrow agent.
19. MATERIAL FACTS: To the best of Seller's knowledge and belief: (Check only one box.)
C] A. Seller is not aware of any material defects to the Property except as stated in the attached Property
Condition Statement.
+N and Selle~'L1. Page 9 of 12
(TAR-1802) 10-18-05 Initialed for ldentification by Buyer~,~• .
V
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- 000085
Commercial Contract- Unimproved Property Conceming Corner of Loo 286 and H 82 West
❑ B. Except as otherwise provided in this contract, Seiler is not aware of:
(1) any subsurface: structures, pits, waste, springs, or improvements; _
(2) . any pending or threatened litigation, condemnation, or assessment affeCting the Property;
(3) any environmental hazards or conditions that materially affect the Property;
(4) whether the Property is or has been used for the storage or disposal of hazardous materials or toxic
waste, a dump site or landfill, or any underground tanks or containers;
(5) whether radon, asbestos containing materials, urea-formaldehyde foam insulation, lead-based
paint, toxic mold (to the extent that it adversely affects the health of ordinary occupants), or other
pollutants or contaminants of any nature now exist or ever existed on the Property;
(6) any wetlands; as defined by federal or state law or regulation, on the Propeity;
(7) any threatened or endangered species or their habitat on the Property; '
(8) any present or past infestation of wood-destroying insects in the Property's improvements;
(9) any contemplated material changes to the Property or surrounding area that would materially and
detrimentally affect the ordinary use of the Property;
(10) any condition on the Property that violates any law or ordinance.
(Describe any exceptions to (1)-(10) in Paragraph 12 or an addendum.)
20. NOTICES: All notices between the parties under this contract must be in writing and are effective when
hand-delivered, mailed by certified mail retum receipt requested, or sent by facsimile transmission to the
parties addresses or facsimile numbers stated in Paragraph 1. The parties will send copies of any notices
to the broker representing the party to whom the notices are sent.
❑ A. Seller also consents to receive any notices by e-mail at Seller's e-mail address stated in Paragraph 1.
❑ B. ; Buyer also consents to receive any notices by e-mail at Buyer's e-mail address stated in Paragraph 1.
21. DISPUTE RESOLUTION: The parties agree to negotiate in good faith in an effort to resolve any dispute
related to this contract that may arise. If the dispute cannot be resolved by negotiation, the parties will
submit the dispute to mediation before resorting to arbitration or litigation and will equally share the costs of
a mutually acceptable mediator. This paragraph survives termination of this contract. This paragraph does
not preclude a party from seeking equitable relief from a court of competent jurisdiction.
22. AGREEMENT OF THE PARTIES:
A. This contract is binding on the parties, their heirs, executors, representatives, successors, and
permitted assigns.
B. This contract is to be construed in accordance with the laws of the State of Texas.
C. This contract contains the entire agreement of the parties and may not be changed except in writing.
D. If this contract is executed in a number of identical counterparts, each counterpart is an original and all
counterparts, collectively, constitute one agreement. ;
E. Addenda which are part of this contract are: (Check all that apply.)
21 (1) Property Description Exhibit identified in Paragraph 2;
0 (2) Commercial Contract Financing Addendum;
C] (3) Commercial Property Condition Statement;
❑(4) Notice to Purchaser of Real Property in a Water District (MUD);
0 (5) Addendum for Coastal Area Property;
❑(6) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway; and
❑ (7)
(Note: Counsel for the Texas Association of REALTORS@ (TAR) has determined that any of the foregoing addenda which are promulgated by
the Texas Real Estate Commission (TREC) or published by TAR are appropriate for use with this form.)
~ and Seller/n o n,~ Page 10 of 12
(fAR-1802) 10-18-05 Initialed for ldentifcation by Buyer&,
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n0on86
Commercial Contrad - Unimproved Properry Concerning Corner of Loo 286 and H 82 West
F. Buyer 21 may ❑ may not assign this contract. If Buyer assigns this contract, Buyer will be relieved
of any future liability under this contract only if the assignee assumes, in writing, all obligations and
liability of Buyer under this contract.
23. TIME: Time is of the essence in this contract. The parties require strict compliance with the times for
performance. If the last day to perForm under a provision of this contract falls on a Saturday, Sunday, or
legal holiday, the time for performance is extended untit the end of the next day which is not a Saturday,
Sunday, or legal holiday.
24. EFFECTIVE DATE: The effective date of this contract for the purpose of performance of all obligations is
the date the escrow agent receipts this contract after all parties execute this contract.
25. ADDITIONAC NOTICES:
A. Buyer should have an abstract covering the Property examined by an attorney of Buyer's selection, or
Buyer should be fumished with or obtain a title policy.
B. If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage,
or flood control facilities and services, Chapter 49, Texas Water Code, requires Seller to deliver and
Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fees of the
district before final execution of this contract.
C. Notice Required by §13.257, Water Code: "The real property, described below, that you are about to
purchase may be located in a certificated water or sewer service area, which is authorized by law to
, provide water or sewer service to the properties in the certificated area. If your"property is located in a
certificated area there may be special costs or charges that you will be required to pay before you can
receive water or sewer service. There may be a period required to construct lines or other facilities
necessary to provide water or sewer service to your property. You are advised to determine if the
property is in a certificated area and contact the utility service provider to determine the cost that you
will be required to pay and the period, if any, that is required to provide water or sewer service to your
property. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or before
the execution of a binding contract for the purchase of the real property described in the notice or at
, closing of purchase of the real property." The real property is described in Paragraph 2 of this contract.
D. If the Property adjoins or shares a common boundary with the tidally influenced submerged lands of the
state, §33.135 of the Texas Natural Resources Code requires a notice regarding coastal area property
to be included as part of this contract.
E. If the Property is located seaward of the Gulf draoatfonl of t e Paoperty0to5be encludeduasl part Resourcesthis
Code, requires a notice regarding the seawa
contract. Prop
later included
F. If the Property is located outside the Jio~f a°mun c pali y a~nd mthe ay noweor later be subje t to annexation
in the extra-territonal jurisdiction (ET )
by the municipality. Each municipality maintains a map that depicts its boundaries and ETJ. To
determine if the Property is located within a municipality's ETJ, Buyer should contact all municipalities
located in the general proximity of the Property for further information. studies, G. Brokers are not qualified to perform property inspections, surveys, e viemmental regulations~omlaws!
assessments, or inspections to determine compliance with zoning, go
Buyer should seek experts to perform such services. Selection of inspectors and repairmen is the
responsibility of Buyer and not the brokers. buy 26. CONTRACT AS OFFER: The execution of thi t 00 the P.mrst ' pahrty time zonte n whichethe Pr pe~YeSl
the Property. Unless the other party accepts the offer bY 5
located, on March 2 2009 , the offer will lapse and become null and void.
and Seller~1l-. Page 11 of 12
(fAR-1802) 10-18-05 Initialed for ldentfication by Buye , .
Produced with ZipFormO by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www zipLoaix com Montgomery - N1
~ 000087
CornPr wAat-
Commercial Contrad - Unimproved Property Concerning
READ THIS CONTRACT CAREFUff~ .nch brokers ta gconsequences ofrtFiis do ument or
recommendation as to the legal su y, le9al effect, or
transaction. CONSULT your attorney BEFORE signing. -
BUyer: Jeffre Marti S@Iler: Marv MontQOmery
BY'
By:
A*4V ~
Printed Name: Printed Name.
Titie:
BUyef: Lar Mar
BY:
Printed Name: ,
Title:
Seller:
By:
Printed Name:
Title: Title:
AGREEMENT BETWEEN BROKERS
Ma (Cooperating Broker) a
Principal Broker agrees to pay
fee of $ or % of the sales pnce when the Principal Broker's fee is
received. Escrow agent is authorized and directed to pay Cooperating Broker from Principal Broker's fee at
closing. This Agreement Between Brokers supersedes any prior offers and agreements for compensation
between brokers.
Cooperating Broker Principal Broker
By: By:
RTTORNEYS
Buyer's attorney is: Seller!ZZ~ rney is:
Name: ~ ~At' l-~~
Name:Charles Waldrum -
Address:
Address:
Phone& Fax: (903) 784-4354 -
Phone & Fax: 903 7~S ~~0 0~
E-mail:
Buyer's attorney requests copies of documents,
notices, and other information:
21 the title company sends to Buyer.
❑ Seller sends to Buyer.
E-mail:
Seller's attorney requests cop'ies of documents,
notices, and other information:
111- the title company sends to Seller.
❑ Buyer sends to Seller.
ESCROW RECEIPT
Es ow agent acknowledges recei of,
the contract on this day (effective dat
R.B earnest money in the amount of $/v~ in the form of ..e; ~0 y
~
on Address: 33 ~ lst st.
Escrow Agent: stone Title Companv paris TX 75460
Phone & Fax:
BY;
E-mail:
(fAR-1802) 10-18-05
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Page 12 of 12
Montgomery - A'
0000C,7Q
490,~
,
TEXAS ASSOCIATION OF REALTORSO
COMMERCIAL CONTRACT FINANCING ADDENDUM
U3E OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION.OF REALTORSO IS NOT AUTHORI7FD,
mTexas Associalion of REALTORSO, Inc. 2005
ADDENDUM TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED PARTIES CONCERNING
THE PROPERTY AT
Corner of Loo 286 and H 82 West
The portion of the Sales Price not payable in cash will be paid as follows: (Check all that apply.)
Q A. THIRD PARTY FINANCING: Pro the
(1) The contract is contingent upon Buyer obtaining a third pai y loan(s) secured wi hthe thenit al interest rate
amount of $ for not less than Years
not to exceed . ~u-j % per annum. .
(2) Buyer will apply for the third party loan(s) described in Paragraph A(1) promptly after the effective
date. If Buyer cannot obtain the loan(s), Buyer may give Seller written notice within days
after the effective date and the contract will terminate and the earnest money, less any independent
consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer. If Buyer does not
give such notice within the time required, this contract will no tonger be subject to the
contingency described in this Paragraph A.
(3) Each note to be executed under this addendum is to be secured by vendor's and deed of trust liens.
❑ B. ASSUMPTION:
(1) Buyer will assume the unpaid principal balance of the existing promissory note secured by the
Property payable to
dated which balance at closing will be $ • the (2) Buyer's initial payment will be the first payment due after st B e ur ng assum
the pntion ote ~f reco ded I in
note includes all obligations imposed by the deed of tru (recording reference)
in the real property records of the county where the Property is located.
(3) If the unpaid principal balance of the assumed loan t closihetbe adjusted by the net amount of
balance stated in Paragraph B(1), the cash payable a 9 wIl
any variance; provided, if the total principal balance of the assumed loan varies in an amount
greater than $ at closing, either party may terminate this contract and the earnest
money will be refunded to Buyer unless either party elects to eliminate the excess in the variance by
an appropriate adjustment at closing.
(4) Buyer may terminate the contract and the earnest money, less any independent consideration under requires: Paragraph 76(1) of the contract, will be refunded to Buyer if the note holder nd Seller declines to pay
(a) Buyer to pay an assumption fee in excess of $
such excess; or
(b) an increase in the interest rate to more than
(c) any other modification of the loan documents. lien
and (5) Unless Seller is released of liability on any a on execution~and deli ery eof o_
trust to secure assumption, which will be automaticallY eleased
release by the note holder.
Page 1 of 3
(TAR-1931) 10-18-05
Coldwetl Banker 3749 Lamar AveParis, TX 75460 Montgomery - M
Phone: (903) 782 - 9800 Fax: (903) 782 - 9172 Chad Brown
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- 000089
Commercial Contrad Financing Addendum concerning Corner of Loo 286 and Rion 82 West
(6) If assumption approval is required by the note holder, Buyer will apply for assumption approva
within days after the effective date of the contract and will make every reasonable effort tc
obtain assumption approval. If Buyer cannot obtain assumption approval, Buyer may give Selle-
written notice within days after the effective date and the contract will terminate and thE
earnest money, less any independent consideration under Paragraph 76(1) of the contract, will b_
refunded to Buyer. If Buyer does not give such notice within the time required and Buyer doeE
not close because Buyer is not able to assume the existing note, Buyer will be in default.
❑ C. SELLER FINANCING:
(1) At closing, Buyer will execute and deliver a promissory note (the note) from Buyer to Seller in tn:
amount of $ , bearing % interest per annum. Matured
unpaid amounts will bear interest at the maximum rate of interest allowed by law.
(2) The note will be payable as follows:
after the datE
❑ (a) In one payment, due
of the note, with interest payable: ❑(i) monthly ❑(ii)
❑(b) In installments of $ ❑ including interest ❑ plus interes
beginning after the date of the notE
and Continuing at D monthly ❑ intervals thereafter fo
when the entire balance of the note will be due and payable.
. installments for the first
C) (c) Interest only in D monthly ❑
years and thereafter in installments of $ ❑ including interest ❑ plus interes
beginning after the date of the note and continuing =
❑ monthly D intervals thereafter for
when the entire balance of the note will be due and payable.
(3) The note will be secured by vendor's and deed of trust liens and an assignment of leases payable e
the placed designated by Seller.
(4) The note will provide that if Buyer fails to timely pay an installment within 10 days after tn
installment is due, Buyer will pay a late fee equal to 5% of the installment not paid.
(5) The note ❑ will ❑ will not provide for liability (personal or corporate) against the maker in th
event of default.
(6) The note may be prepaid in whol of pnnctime ipal a'stomatur ng a dnlnterestyw II immediate
applied to the payment of the installments
cease on the prepaid principal. note (7) The lien securing payment of the note if tbleiinsuance s fuen hed, riBUyeryat Buyers expensenw
in this addendum. If an owner's policy o
furnish Seller with a mortgagee title policy in the amount of the note at closi.ng.
8) If all or any part of the Property is sold or conveyed without Seller's prior writte eaccuedSnteres
(
Seller's option, may declare the outstanding principal balance of the note, p us
immediately due and payable. Any of the following is not a sale or conveyance of the Property:
(a) the creation of a subordinate lien;
(b) a sale under a subordinate lien;
(c) a deed under threat or order of condemnation;
(d) a conveyance solely between the parties; or .
(e) the passage of title by reason of death of a maker or operation of law.
(TAR-1931) 10-18-05
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Page 2 of :
Montgomery - ,
- 000090
Commercial Contract Financing Addendum concerning Corner of Loop 286 and Hwv 82 West
(9) Deposits for Taxes and Insurance: Together with the principai and interest instaliments, Buyer
❑ will ❑ will not deposit with Seller a pro rata part of the estimated annual ad valorem taxes
on the Property and a pro rata part of the estimated annual insurance premiums for the
improvements on the Property.
(a) If Buyer deposits taxes and insurance deposits with Seller, Buyer agrees that the taxes and
insurance deposits are only estimates and may be insufficient to pay total taxes and insurance
premiums. Buyer agrees to pay any deficiency within 30 days after Seller notifies Buyer of any
deficiency. Buyer's failure to pay the deficiency is a default under the deed of trust.
(b) If any superior lien holder on the Property collects payments for taxes and insurance, any
requirement to deposit taxes and insurance deposits with Seller under this addendum is
inoperative so long as payments are being made to the superior lien holder.
(10) Any event that constitutes a default under any superior (ien constitutes a default under the deed of
trust securing the note.
(11) The note will include a provision for reasonable attorney's fees for any collection action.
(12) Unless the parties agree otherwise, the form of the note and loan documents will be found in the
current edition of the State Bar of Texas Real Estate Forms Manual without any additional clauses.
❑ D. CREDIT APPROVAL ON ASSUMPTION OR SELLER FINANCING:
(1) To establish Buyer's creditworthiness for assumption approval or seller financing, Buyer will deliver
' to Seller the following information (Buyer's documentation) within days after the effective
date of the contract: -
❑(a) verification of employment, including salary;
❑(b) verification of funds on deposit in financial institutions;
❑ (c) current financial statement;
❑ (d) credit report; ❑(e) tax returns for the following years '
a M
(2) If Buyer does not timely deliver Buyer's documentation or Seller determines, in Seller's solE
discretion, that Buyer's creditworthiness is not acceptable, Seller may terminate the contract by
giving written notice to Buyer not later than days after the date Buyer must deliver Buyer'E
documentation under Paragraph D(1) and the earnest money, less any independent consideratior
under Paragraph 713(1) of the contract, will be refunded to Buyer. If Seller does not timely terminatE
the contract under this paragraph, Seller will be deemed to have accepted Buyer's credit.
❑ E. SPECIAL PROVISIONS:
Buyer rey Martin Date
Buyer L Martin Date
7-D
Seller ~ Montgome DatF
Seller DatE
Page 3 of :
- M
(TAR-1931) 10-18-05
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MEMORANDUM
TO: Chairman and Members of the Planning and Zoning Commission
Honorable Mayor and Members of the City Council
FROM: Community Development Department
SUBJECT: Zoning Change Requests
DATE: March 26, 2009
The following zoning change request will be presented at the Apri16, 2009, meeting of the
Planning and Zoning Commission and the Apri127, 2009, meeting of the City Council of the City
of Paris for consideration:
l. Jeff Martin is requesting that the property located on Lots PT of 9 and 9A, City
Block 331, being located in the 3700 Block of Bonham, be rezoned froin a Planned
Development District (PDa-f) Retail Shopping Center or Office Center to a General Retail
District (GR). The Comprehensive Plan recommends that this property be zoned General
Retail District (GR).
cc: Kevin Carruth, City Manager
W. Kent McIlyar, City Attorney
Onn(195
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