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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