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Concerning Corner of Loo 286 and H 82 West Commercial Contract Unimproved Property n s eeial warranty C. At closing, Seller will execute and deliver, at Sellers expense, a ® general P must deed. The deed must include a vendor's lien if any and show no sales price is financed. The other than t ose permitted convey good and indefeasible title to the Property under Paragraph 6 or other provisions oother securityctinteelests against vth t Propertyrtwhich will not be (1) with no liens, assessments, satisfied out of the sales price, unless securing loans Buyer assumes, (2) without any assumed loans in default; and (3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or trespassers except tenants under the written leases assigned to Buyer under this contract. 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; licenses and permits related to the (3) to the extent assignable, an assignment to Buyer of any Property; (4) evidence that the person executing this agent atins legally capable t a foreign 1personbor, if Seller is a (5) an affidavit acceptable to the escrow agen 9 foreign person, a written authorization forthe les area agent eli from the Ilnternal Revenue amount sufficient to comply applicable tax I ( Service (IRS) together with appropriate tax forms; and 6) any notices, statements, certificates, affidavits, the closingnof the sale and issuance required e o the title ( contract, the commitment, or law necessary for 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; and 2) deliver evidence that the person executing this contract is legally capable authorized to bind ( Buyer; art of the Property a written statement that: (3) sign and send to each tenant in a lease for any p (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 O 5 execute and deliver any. notices, statements, certificates, or other documents required by this contract or law necessary to close the sale. F. Unless the parties agree otherwise, the closing documents Manual without any additional clausesin the current edition of the State Bar of Texas Real Estate Forms 11. POSSESSION: Seller will deliver possession of the Proprt to completep ondinary wear and tear oexciepted in its present condition with any repairs Seller is obligated An ossession by Buyer before closing or by Seller after closing relationship is not the authorized by a separate YP written lease agreement is alandlord- tenant at sufferance approved by Subway Corporation for the 12. SPECIAL PROVISIONS: (Identify exhibit if special provisions are contained in an attachment.) Contract is contingent on locate ,-instruction of a Subway franchised store. Contract is also contingent on buyer construction of a Subway ezoning is necessary. obtaining proper zoning for the Seller agrees to cooperate with buyer if r reement. Buyer will pay buyer's agent commission according to separate ag and Seller Page 7 of 12 (TAR -1802) 10 -18 -05 Initialed for Identification by Buyer , ix. m Montgomery - M Produced with ZipForrA by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www zi�oa �o