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~ REAL ~STAT~ PURCHAS~ CONTRACT and
<br />entered the
<br />`fHIS REAL ESrATE P s'Offecve Dateey'by9and bettween TheeBur on Esta el(°Selle~)fand
<br />date of fuli sxacutlpn nf iil(s Agreement (tiie
<br />FRAN!<LiN LAND assoclATEs, L.L.C., a 7ertnessee limited lfabllity company ("BuYsO-
<br />WITNESSEi'H and For and in consideraflon af Ten a1a~ suff$icie ~ y of whI 1~ is hereby a ccnowfedged,~ hetpartles he eto
<br />valuable considaralions, the recelpt and Igagroe as €ollows: and terms
<br />1. Pro ert . 5eller hereby agr$er(an tB recteor paresl a fand descr bed aspa vac nt pa ceifof`property
<br />and conditions herein set forih, that q common measuring approximatefy 156' x 855' ideniifiecl as being a part af l.°IC h ~ Bfurl~sr0 d~icted an Ei~ h,t n;,As
<br />23pp Main Sf, Paris, Laniar Counfy, Texas (the "Pra}aeriy"),
<br />aitaciied ftiereto and lncorporated hereln.
<br />2, Earnest Monev. $5,000, to Ue depasited wlth Republfa Tiile Insuranca Campany Da11as (heCelnaiter "E5C(OW rovlsions Agenl") within five (5) business daY ed an il~e ~arnsst Money shall be ti~e propertytoff Buyertie Buye ancl Sefier
<br />af tt~is Ac~reemenf. All lnterest oarn all slialf Indemnify the Escraw Agents~d~~s ~~tlethe s ~sSEsG w Agenk including~~ sonaba attorneyss,fees, ox ept
<br />ex}~onses arisfig from pertormanca for tliase damages, costs, ciaims and expenses resuiting from the gross negiigence or wlllful misconduct afi the
<br />Escrow Agent. ~
<br />3. Purciiase Prlce, $960,000.
<br />~x~~✓sia~✓
<br />s after ihe end of [he inspecilon Perlod (fhe "Ctosing Dats") oe 9nVy
<br />4. Closln . Ten (10) c1aY
<br />5, p~,}~q~(tons at Closinct. At Closing, Seiler shall deliver to Buyer, or auyer's deslgnee, a spQ°sub ect only roperty deed conveylng ta E3uyer or it5 Sg Paa aph 7 b~l w~land ail otheSi da~cuments pequi ecf by the Tftle
<br />all
<br />to exceptions acceptable pursUanE to
<br />Company for closing, pay for Seller's attor ipy'~S$ fe~~d °by{ Se lere pursuantitodany, otherfpr vlslon ofdthls
<br />f~nca, as
<br />pllier cosk {ncurred by Seller or rec~ulred p
<br />Ac~resmenf, and surrender the Properky to Buyar. At Closing, BuYer shall {~ay the Purchase cost
<br />with
<br />purch adjusted, pay for Buyet's altoi-ney's ffles, iif~ ,u r o rec~ Ired ioSbe PaidibY g Yeir pursu~tiit ta anYaolher
<br />fhe Proppt'ty, and all other cost incurred y ye ,
<br />provlsion of thls Agreement.
<br />8, fnspectlon Perlod. Buyer's agenis,
<br />s afer l h1e yFffactlve Datep(lhee In ~ecitiont Peeloda) Ina 1h1c1~ to ao duci, at '
<br />hundred iwenty (120) bus(ness day lnspectl euyer's sofe oK}sense, such phys~° er de~ms feasIbIlity ies of any anyns
<br />all
<br />examinatians, tests and studles as B y ?
<br />i-nalerlals pertainlng to the Property to Buyer wlihln ten (10) days afler the C(fective pate. Eartiest
<br />lvlo If. 8uyer terminatos this Ayreement befora the end af the lnspecilon~af`~°d~h~lend of tho ns!pe 11an Pept.
<br />$~(00.00, shall be rcturned to SLiyer. i( Buyer terminates this Agreem
<br />a1( Eamast Money shall Ue sent to Seller, unless Sel(er da(aulfs under this Agreement, ~Vh1ch.c@6e"ifie
<br />i his.
<br />' Earnest Maney sliall be retLirned to ~3uyer. Upan iha terminailon of tiiis Ag eement P_
<br />subpat'agraph, ihe parties sliall be relieved of any further nbligatlons hereunder., If BLryer Inkends io Proceed wltll tlie Closing of ils purahase of tite PropiriYwritfnBla facslmile i nsrnlssion oe
<br />explralion of the lnspecklon f'erlod, notify ilie Seller and1or Escrow Agen t J
<br />as o(herwlse pravidod in fhis Agreement of Buye~r~' pSl ~l irt~o~ proceed -wlth the Gfasing oi !ts purchase "of 'ih'e
<br />Property, subJect ta ali of tf~e other Eerms and con
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