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p 1. PARTIES: w and convey ro to buy trom Se PROMULGATED BY THE TEXAS REAL E5TATE COMMISSION (TREC) UNIMPROVED PROPERTY CONTRACT NOTICE: Not Far Use For Condanfrdum Transactlons property (Seller) agrees to seil rer) and Buyer agrees 2. PROPERTY: Lot 8 , Block 7 , T 8c P Addition, City of pARIs , i.nM►x County, Texas, known as 3RD syr K/A+ (Address/Zip Code), or as described on attached exhibit, (the Property). The Property 0 Is U Is not subJect to mandatory membership in an owners' assoaatlon. The TREC Addendum For Property Subject To Mandatory Membership In An Owners' Association O is 8X is not attached. NOTICE TO BUYER: If the Property is subject to mandatory membership in an owners' association, Seller notifies Buyer under §5.012, Tezas Property Code, that, as a purchaser of property in the residential community in which tlie Property Is located, you are obligated to be a member of an owners' association. Restrictive covenants goveming the use and occupancy of the Property and a dedicatory instrument goveming the establishment, maintenance, and operation of this residential community have been or will be recorded in the Real Property Records of the county in which the Property Is located. Copies of the resUicGve covenants and dedicatory instrument may be obtained from the county cleric. You are obligated to pay assessments to the owners' association. The amount of the assessments is subject to change. Your failure to pay the assessments could result in a lien on and the foredosure of the Property. 3. SALES PRICE: A. Cash portion of Sales Price payable by Buyer at closing . . . . . . . . . . . . . . . . . . . . . . $ zz,ooo.oo B. Sum of all financing described below . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ o.oo C. Sales Price (Sum of A and B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ z2,ooo.oo 4. FINANCING: Within N~A days after the effective date of this contract Buyer shall apply for all third party finandng or noteholders approval of any assumption and make every reasonable effort to obtain finandng or assumption approval. Financing or assumption approval will be deemed to have been obtained when the lender determines that Buyer has satisfied all of lender's financial requirements (those items relating to Buyer's net worth, income and credirivorthiness). If financing or assumption approval is not obtained within N/A days after the effective date hereof, this contract will terminate and the eam est money will be reTunded to Buyer. Each note to be executed hereunder must be secured by vendors and deed of trust Iiens. The portion of Sales Price not payable in cash will be paid as follows: (Check applicable boxes below) ❑ A. THIRD PARN FINANCING: D(1) This conVact is subjed to approval for Buyer of a third party loan in an amount not to exceed N/A % of the Sales Price, evidenced by a third party first lien promissory note of not less than $ N/A, due in full in N/a year(s), with interest not to exceed NiA % per annum for the first NiA year(s) of the loan. ❑(2) This contract is subject to approval for Buyer of a third party loan in an amount not to exceed N/A % of the Sales Price, evidenced by a third party second lien promissory note of not less than $ N/A due in full in N!A year(s), with interest not to exceed A % per annum for the first NiA year(s) of the loan. ❑ B. SELLER FINANCING: A promissory note from Buyer to Seller of $ NIA, bearing N/A % interest per annum, secured by vendors and deed of trust liens, in acxordance with the terms and conditions set forth in the a8ached TREC Selier Finandng Addendum. If an owner policy of tiUe insurance Is fumished, Buyer shall fumish Seller with a mortgagee policy of tiUe insurance. ❑ C. ASSUMPTION: ❑(1) Buyer shall assume the unpaid prindpal balance of a first lien prom~shi~ unote npa d babance N/A at ciosing will be $ N/A . The total current monthly payment including principal, interest and any reserve depostts Is $ NIA . Buyers inftfal payment wiil be the first payment due after dosing. tlaled for ldenUftqUon by Buyer and Seller - 01 A TREC NO. 94 .}21~~jk{r ~WKP~bw^0/WaCwYtl"W.11wIhr~fanlYe0.~YVRadW.K..70lOW.Ppir.lWi07.NU~lTX7A067.P~1~7}H7~ Fl~ Ti~ WIYWm M/u~oCMVI~ h1utiW la w la MW iWdhm, W N m1Ywf~WM. UwbJ aUrnM ~ NaYtlan a(lMrYaM~IwutlRTW 77 U.tG 1/01. pM~E ONbOAW100T