19-Zoning; Public Hearing - Laserfiche WebLink

Home Browse Search

THE STATE OF TEXAS ) ) COUNTY OF LAMAR ) CONTRACT OF SALE & PURCHASE BY THIS AGREEMENT AND CONTRACT ROBERT (BOB) UNRUH of Lamar County, Texas, herein called "Seller", agrees to sell and convey to SEED SOWERS CHRISTIANS IN ACTION, A Texas Non-Profit Corporation, by and through its duly authorized President, Donald R. Walker, also of Lamar County, Texas (whose mailing address is herein called "Purchaser", the following described real property and premises in Lamar County, Texas: The property and premises at 1920 South Church Street in the City of Paris, being a tract of 3.754 acres of land in the Larkin Rattan Survey, Abst. No. 778, Save, Except and Less a tract of 1.319 acres of land; all more fully described in Exhibit "A" attached hereto and made a part hereof for all necessary purposes. The purchase price for the within described property shall be Two hundred eighty-five thousand and no/100 ($285,000.00) Dollars, PAYABLE AS FOLLOWS: (a) $60,000.00 in the form of a gift from Seller to Purchaser; and (b) The balance, $225,000.00, PAYABLE AS FOLLOWS: ' (I) $5,000.00 cash at time of Closing; and (ii) The balance, $220,000.00, evidenced by note from Purchaser to Seller, bearing interest at the rate of 4.00% per annum, payable as follows: INTEREST ONLY one (1) year from date of Closing, with the entire unpaid principal balance, plus accrued interest, due and payable 18 months from date of Closing. Purchaser's note to Seller will be secured by vendor's and deed of trust liens covering the within described property; shall contain the privilege of prepayment without penalty; and both the note and deed of trust shall contain a "due-on-sale" clause. Seller agrees to execute a good and sufficient General Warranty Deed conveying the property to Purchaser; and Purchaser agrees, when such deed is tendered, to pay the cash payment hereinabove provided for and to execute all documents necessary to consummate this transaction. In the event the improvements on the within described property are destroyed, or damaged beyond repair, by fire, windstorm, hail, explosion or otherwise, before this contract is consummated, Purchaser may - at its option - terminate this contract. TO THE BEST OF SELLER'S KNOWLEDGE AND BELIEF, THERE IS NO ENVIRONMENTAL DAMAGE NOR ARE THERE ANY HAZARDOUS SUBSTANCES ON THE PROPERTY WHICH WOULD AFFECT ITS USE FOR PURCHASER'S INTENDED PURPOSES. OTHERWISE, SELLER HAS NOT MADE AND DOES NOT MAKE ANY REPRESENTATIONS, WARRANTIES OR COVENANTS OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, WITH RESPECT TO THE QUALITY OR CONDITION OF THE PROPERTY. SPECIFICALLY, SELLER DOES NOT MAKE ANY REPRESENTATIONS REGARDING SOLID WASTE, AS -1- EXHIBIT.~ A - - , 'LA-q