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2 <br />[wu~ <br />OPFOATUNIiY <br />1. <br />2. <br />PARTIES: The parties to this contract are Louise Seals (Seller) <br />and L-o;5 L+o.:.s Johnn Exum (Buyer). Seller agrees <br />to sell and convey to Buyer and Buyer agrees to buy from Seller the Property defined below. <br />PROPERTY: 250 <br />A. LAND: Lot 31-A & 35 Block Addition, City of <br />Paris , County Of Lamar I <br />Texas, known as 2085 Fitzhu h 75460 (address/zip <br />code), or as described on attached exhibit. <br />B. IMPROVEMENTS: The house, garage and all other fixtures and improvements attached to <br />the above-{lescribed real property, including without limitation, the foliowing permanently <br />installed and built-in items, if any: all equipment and appliances, valances, screens, <br />shutters, awnings, wall-to-wall carpeting, mirrors, ceiling fans, attic fans, mail boxes, <br />television, antennas and satellite dish system and equipment, heating and air-conditioning <br />units, securiry and fire detection equipment, wiring, plumbing and lighting fixtures, <br />chandeliers, water softener system, kitchen equipment, garage door openers, cleaning <br />equipment, shrubbery , landscaping, outdoor cooking equipment, and all other property <br />owned by Seller and attached to the above described real property. <br />C. ACCESSORIES: The following described related accessories, if any: window air conditioning <br />units, stove," fireplace screens, curtains and rods, blinds, window shades, draperies and <br />rods, controls for satellite dish system, controls for garage door openers, entry gate <br />controls, door keys, mailbox keys, above ground pool, swimming pool equipment and <br />maintenance accessones, and artificial fireplace logs. <br />D. EXCLUSIONS: The following improvements and accessories will be retained by Seller and <br />must be removed prior to delivery of possession: <br />The land, irnprovements and accessories are collectively referred to as the "Prnnartv" <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 ' I <br />fee or mortgage insurance premium) . . . : . . . . . . . . . . . . . . . . . . . . . . . . I; <br />C. Sales Price (Sum of A and B) . . . . . . . . . . . . . . . . . . . . . • . • • • • • • • • • • • ' <br />4. FtNANCING: The portion of Sales Price not payable in cash will be paid as tonows: <br />applicable boxes below) <br />❑ A. THIRD PARTY FINANCING: One or more third party mortgage loans in the total amount of <br />$ (excluding any loan funding fee or mortgage insurance premium). <br />(1) Property Approval: - If the Property does not satisfy the lenders' underwriting <br />requirements for the loan(s), this contract will terminate and the earnest money will be <br />refunded to Buyer. <br />(2) Financing Approval: (Check one box only) <br />~(a) This contract is subject to Buyer being approved for the financing described in <br />the attached Third Party Financing Condition Addendum. <br />❑(b) This contract is not subject to Buyer being approved for financing and does not <br />involvs FHA or VA financing. <br />❑ B. ASSUMPTION: The assumption of the unpaid principal balance of one or more promissory <br />notes described in the attached TREC Loan Assumption Addendum. <br />❑ C. SELLER Ff NANCING: A promissory note from Buyer to Seller of $ secured by vendor's and deed of trust liens, and containing the terms and conditions <br />itle <br />described nsurance i s t fumashededBu eEC shaI Seller fum sh ciSellerddw'thu a'mortg geeef pofclyy of f ttitle <br />insurance. <br />5. EARNEST MONEY: Upon execution of this contract by all parties, Buyer shall deposit <br />$ 500 . 00 as eamest money with as escrow agent, at with escrow <br />(address). Buyer shall deposit additional earnest money of $ <br />agent within days after the effective date of this contract. If Buyer fails to deposit the <br />earnest money as required by this contract, Buyer will be in default. <br />6. TITLE POLICY AND SURVEY: <br />A. TITLE POLICY: Seller shall furnish to Buyer at M Seller's ❑ Buyer's expense an owner policy <br />of title insurance (Title Policy) issued by <br />(Title Company) m the amount of the Sales Price, dated at or after closing, insuring Buyer <br />against loss under the provisions of the Title Policy, subject to the promulgated exclusions <br />(TAR 1601) 06-30-08 Initialed for identification by Buyer and Seller TREC NO. 20-8 Pa9e I ots <br />Phone:(903)762-9800 Faz: (903)782-9172 <br />Coldwdl Banker Regional Rcalty 3749 Lamar Ave., Paris TX 75460 T4722286.ZFX <br />Cade Sione Produced with ZipFormS by zipLoga 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLoqix.com <br />1 OUUV21~ <br />PROMULGATED tlY I tit I tAP.J rcr_r~L r-o I r I L_ . . , <br />ONE TO FOUR FAMILY RESIDENTIAL CONTRACT (RESALE) <br />NOTICE: Not For Use For Condominium Transactions <br />