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THE STATE OF TEXAS }
<br />~ CONTRACT OF SALE & PIIRCHASE
<br />COUNTY OF LAMAR )
<br />BY THIS AGREEMENT AND CONTRACT DIANNA EDWARDS of Lamar County, Texas,
<br />Individually, as Independent Executrix of the Estate of Martha K. Dean, Deceased, and Agent for
<br />Patsy Joy Mann, LaQuita Jo Jones, and Dea Dea Looney Chesshire, herein called "Sel(ers", agree to sell
<br />and convey to CHRIS SNODGRASS, and/or His Assigns, of Lamar County, Texas (where his mailing
<br />address is 1030 Laurel Lane, Paris, Texas 75460), herein called "Purchaser", the following described real
<br />property and premises in Lamar County, Texas:
<br />REAL PROPERTY:
<br />The property and premises at 3140 Lamar Avenue, Paris, Texas, part of the George W.
<br />Cox Survey, Abst. No. 164; more fully described in Exhibit "A" attached hereto and made a part
<br />hereof for a(I necessary purposes.
<br />The purchase price for the within described property shall be One hundred thousand and no/100
<br />($100,000.00) Dollars, PAYABLE ALL CASH AT TIME OF CLOSING (of which Purchaser has
<br />deposited the sum of $1,000.00 with STONE TITLE COMPANY, INC., Paris, Texas, as earnest money
<br />and part payment, receipt of which is acknowledged by such Escrow Agent); this contract being
<br />CONTINGENT upon Purchaser obtaining a loan with terms acceptable to him from a lending institution
<br />of his choice to purchase the within described property.
<br />Sellers agree to furnish an Owner's Policy of Title Insurance issued by STONE TITLE CO., INC.,
<br />Paris, Texas, to the within described property, which shall be conveyed free and clear of any and all liens
<br />and encumbrances other than those set out in the title commitment and the above stated purchase money lien;
<br />and Purchaser agrees to complete the sale as herein provided within the time hereinafter specified for
<br />Closing.
<br />If the Title Company and/or Purchaser raise objections to the title to the property, Sellers shall have
<br />thirty (30) days in which to meet and cure such objections. If Sellers are unable to do so, this contract shall
<br />terminate and all parties shall be released from liability hereunder; but if the title is approved and either party
<br />hereto fails or refuses to consummate this contract, the other may - at their or his option - enforce specific
<br />performance of this contract.
<br />Sellers agree, when title objections - if any - have been met or waived, to execute a good and
<br />sufficient General Warranty Deed conveying the property to Purchaser; and Purchaser agrees, when such
<br />deed is tendered, to pay the cash payment hereinabove provided for and to execute all documents necessary
<br />to consummate this transaction.
<br />In the event the improvements on the within described property are destroyed, or damaged beyond
<br />repair, by fire, windstorm, hail, explosion or otherwise, before this contract is consummated, Purchaser may
<br />- at his option - terminate this contract, and the earnest money deposit wiil be returned to him.
<br />TO THE BEST OF SELLERS' KNOWLEDGE AND BELIEF, THERE IS NO
<br />ENVIRONMENTAL DAMAGE NOR ARE THERE ANY HAZARDOUS SUBSTANCES ON THE
<br />PROPERTY WHICH WOULD AFFECT ITS USE FOR PURCHASER'S INTENDED PURPOSES.
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