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,oniract uonceinuiy <br />(Address of Property) <br />22. AGREEMENT OF PARTIES: This contract contains the entire agreement of the parties and <br />cannot be changed except by their written agreement. Addenda which are a part of this <br />contract are (Check all applicable boxes): <br />❑ Third Parry Financing Condition Addendum <br />❑ Seller Financing Addendum <br />❑ Addendum for Property Subject to <br />Mandatory Membership In a Property <br />Owners' Association <br />❑ Buyer's Temporary Residential Lease <br />❑ Seller's Temporary Residential Lease <br />❑ Addendum for Sale of Other Property <br />by Buyer <br />❑ Addendum Containing Required Notices <br />Under §5.016, §420.001 and <br />§420.002, Texas Property Code <br />❑ Addendum for "Back -Up" Contract <br />❑ Addendum for Coastal Area Property <br />❑ Environmental Assessment, Threatened <br />or Endangered Species and Wetlands <br />Addendum <br />❑ Addendum for Property Located Seaward <br />of the Gulf Intracoastal Waterway <br />❑ Addendum for Seller's Disclosure of <br />Information on Lead -based Paint and <br />Lead -based Paint Hazards as Required by <br />Federal Law <br />❑ Other (list): <br />23. TERMINATION OPTION: For nominal consideration, the receipt of which is hereby <br />acknowledged by Seller, and Buyer's agreement to pay Seller $ (Option Fee) <br />within 2 days after the effective date of this contract, Seller grants Buyer the unrestricted right <br />to terminate this contract by giving notice of termination to Seller within days after the <br />effective date of this contract. If no dollar amount is stated as the Option Fee or if Buyer fails <br />to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of <br />this contract and Buyer shall not have the unrestricted right to terminate this contract. If Buyer <br />gives notice of termination within the time prescribed, the Option Fee will not be refunded; <br />however, any earnest money will be refunded to Buyer. The Option Fee ❑ will ❑ will not be <br />credited to the Sales Price at closing. Time is of the essence for this paragraph and strict <br />compliance with the time for performance is required. <br />24. CONSULT AN ATTORNEY: Real estate licensees cannot give legal advice. READ THIS <br />CONTRACT CAREFULLY. If you do not understand the effect of this contract, consult an attorney <br />BEFORE signing. <br />Buyer's Seller's <br />Attorney is: Attorney is: <br />Telephone: Telephone: <br />Facsimile: Facsimile: <br />E -mail: E -mail: <br />EXECUTED the day of (EFFECTIVE DATE). <br />(BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.) <br />Buyer Louis John y Ex Seller Louise Seals <br />Buyer Seller <br />The form of this contract has been approved by the Texas Real Estate Commission. TREC forms are intended for use only by trained real <br />estate licensees. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not <br />intended for complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711 -2188, 1 -800- 250 -8732 or (512) 459 - <br />6544 (http: / /www.trec.state.tx.us) TREC NO. 20 -8. This form replaces TREC NO. 20 -7. <br />(TAR 1601) 06-30-08 TREC NO. 20 -8 Page 7 of 8 <br />Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com T4722286.ZFX <br />