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<br />~ ~ UNIMPROVED PROPERTY CONTRACT · ~.: ,:
<br /> NOTICE: Not For Use For Condominium Trsnsa~ons
<br /> (Seller) agrees to sell
<br /> 1. PAR'rlEg: WlLLIXM,I. BOh~ (l~uyer) and Buyer agrees
<br /> and convey to mmRo co.orr co~.~o~,~T[o~ ,
<br /> to buy from Seller the property described below·
<br /> 2, PROPERTY: Lots Block 7 , T~P ~,ddition, Cityof
<br /> _ ,., r ~ County, I exas, known as
<br /> ],xa.[s --' ~/x ~(Address/Z]p Code),
<br /> SF..D SE
<br /> or as described on attached exhlbR, (the Property). The Property I-1 Is ~ Is not subject to mandatory
<br /> membershlp In an owners' association. The TREC Addendurh For Property Subject To Manda!ory
<br /> Membership In An Owners' Association [] Is ii:Is not attached.
<br /> NOTICETO BUYER: if the Proper[71s subject to mandatory membership In an owners' associati°n, Seller
<br /> notifies Buyer under {5.012, Te~s Property Code, that, as a purchaser of property In the residential
<br /> community In which the property Is located, you are obligated to be a member of an owners' association.
<br /> s, ovemln the use and occupancy of the Property and a dedicatory Instrument
<br /> Restrictive covenant g . g _ 'nn nfth! esldential communityhave been orwill be
<br /> govemlng the establishment, malntenan~, and operati ....... s r
<br /> recorded In the Real Property Records of the countyln whlch the Property Is located. Copies of the restrlctive
<br /> covenants and dedicatory instrument may be obtained from the county clerk. You are obligated to pay
<br /> assessments to the ownem' association, The amount of the assessments is subject to change. Your failure
<br /> to pay the assessments could result In a lien on and the foreclosure of the Property.
<br /> 3, SALES PRICE: $ ==,oo0.s0
<br /> A. Cash po~on of Sales Price payable by Buyer at closing .....................
<br /> B. Sum of all financing described below .................. ~ ........ $
<br /> .......... $ 22,000.00
<br /> C. Sales Price (Sum of A and B) ................................ -
<br /> 4. FINANCING: Within ?A ,, days after the effective date of this contract Buyer shall apply for.a!! third party
<br /> financing or noteholder's approval of any assumption and make every reasonable effort to obtain finandng
<br /> or assumption approval. Financing or assumption approval will be deemed to have been obtained when the
<br /> · s sat stied all of lender's financial req.u, irements (t.h.ose i. ta.m.s.rela, tin. g.~o_
<br /> Lende?, dete. rm_m_,e~s,~a~B~y~en~thca~c~itworthiness. If financing or assumption approva, is not outa,nea
<br /> t~uyer s ne[ wo[ u ,, .,~, ......... r )
<br /> · date hereof, this contract will terminate and the ear, est money will be
<br /> ~/~ days after the effecUv, e ......... · ~. ....... o,~ h,, or's an~l deed of trust liens
<br /> ~efunded to Buyer· Each note to De execute~ nereunoe[ H~uo~o o~,~ ..... ~ vend ·
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<br /> The portion of Sales Price not payable in cash will be paid as follows: (Check applicable boxes below)
<br /> I-t A. THIRD pARTY' FINANCING:
<br /> n (1) This contract is subject to approval for Buyer of a third party loan in an amount not to
<br /> o Sa es price,'evidenced by a third party first lien promissory note of
<br /> exceed _ N/A_ ~ of the1,;/~., due In full in ~- . year(s), with Interest not to exceed
<br /> not less than $ _ ,
<br /> · -~ l~/A. % per annum for the first H/A _ year(s) of the loan.
<br /> 'act to a~roval for Buyer of a third party loan in an a~ount not to
<br /> ['-1{2) 'This.contract is subj _ . ap? .... ,,,-,~,~hvnth doartvsecondllenpromlssorynote.
<br /> · ' exceed r~lA % of the ~ales pnce, ewuu ..... ,_ _.ir ~ _ .
<br /> - "-- ~k, due In full in ~/A year(s), with Interest not to exce.ea
<br /> of not less than ~, r - 's'l of the I~n,
<br /> i,u~. % per annum for the first ~. :_year() .._,,_. ~ · ~. bearing
<br /> B. SELLER-FINAI~CING: A promissory note trom t~uyer [o o~a~, u, ,~_ -, --
<br /> I~1 nd deed of trust liens, In accordance with the .t. erms .a..n.d
<br /> Interest er annum, secured .by vendor's a n Addendum. If an owner poi cy of ti.tie
<br /> conditionPs~ set forth In the attached TREC Seller Financi g
<br /> Insurance Is fumlshed, Buyer shall fumlsh Seller with a mortgagee policy of title insurance.
<br /> [] C. ASSUMPTION:
<br /> n (1) Buyer shall assume the unpaid prindpal balance of a first lien promissory note payable to
<br /> ... which unpaid balance
<br /> ~t/Xcloslng will be $_ l~/x. The total current monthly pavement Including principal,
<br /> Interest and any reserve dse~nOcSitS Is-$ _ l,u&. Buyef. s Initial payment will be the
<br /> first payment due after, dos g.
<br /> tia ed _ _ and S.,.!!.,. -, 01^ T EC ,O..
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