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Mar O? ~00~ ~:02P~ Attorne~ At Law 90~?B5907~ <br /> <br /> ..~xtension of Contract of Purchas <br /> STATE OF TEXAS § <br /> COUNTY OF LAMAR § <br /> THIS EXTENSION OF CONTRACT OF PURCHASE {this "Extension,,) is <br /> made and entered into by and between Lamar County, Texas, in its <br /> capacity as Trustee for the City of Paris, Texas, the Paris <br /> Independent School District, Lamar County, Texas and Paris Junior <br /> College (hereinafter, whether one or more, referred to as "Seller") <br /> and The Paris Historical Association, L.L.C. (hereinafter referred <br /> to as "Purchaser") . To the extent that any other taxing or <br /> governmental entities are the owners of any Land, Improvements or <br /> Personalty (as each is hereinafter defined), such entities shall be <br /> deemed for the purposes of conveyance only to be included herein as <br /> a Seller. <br /> <br /> RECITALS: <br /> <br /> A. The Purchaser has not been able to complete all of the <br /> inspections, survey work, title examination and other <br /> inquiries which it must make with regard to the Property <br /> described in the Contract within the Inspection Period (ending <br /> March 14, 2003) defined in Section 3e of the Contract. It is <br /> essential that Purchaser complete all of the due diligence <br /> described in Section 3 of the Contract before Purchaser waives <br /> his right to terminate the Contract and places the Earnest <br /> Money at risk. <br /> <br /> B. Purchaser still believes that Purchaser may be able to <br /> favorably complete all of the inspections and other due <br /> diligence described in Section 3 of the Contract if the Seller <br /> agrees with the Purchaser to allow an extension of the <br /> Inspection Period and of the time before Purchaser's Earnest <br /> Money is placed ~'at risk," for another ninety (90) days, so <br /> that the Inspection Period is extended until June 16, 2003. <br /> <br /> C. Purchaser also requests an extension of the Time for the <br /> Closing until July 1, 2003. <br /> <br /> NOW, THEREFORE, for and in consideration of the recitals and <br /> other good and valuable consideration, including, without <br /> limitation, Purchaser's agreement herein to provide to Seller .7 <br /> C~py o~-~he v~-~o~s in~Dectlon reports recardin~ the Property whici[ <br /> purchaser receiv~ durinc tb~ Tn~ D~od ~ ~ ~- ' <br /> not Close this purchase of the Property, the Seller and the <br /> <br /> ! <br /> <br /> <br />