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hereto and for ail purposes incorporated herein, the same being that Property located at the <br />northwest comer of the intersection of 17th Street S.W. and Clarksville Street in the City <br />of Paris, Paris, Texas, aiso known as the offices of the Lamar County Chamber of <br />Commerce. Seller shall convey its undivided three-tenths (3/10) interest by General <br />Warranty Deed to Buyer in a form acceptable to both parties. <br /> <br />Purchase Price. The purchase price for the entire Property shall be Two Hundred <br />Thousand and no/lO0 Dollars ($200,000.00), subject to the adjustments and conditions <br />provided herein. <br /> <br />Any and all costs of the ultimate sale of the Property, the same consisting of the <br />Chamber of Commerce's seven-tenths (7/10) undivided interest and the City of <br />Paris's three-tenths (3/10) undivided interest, and any and all similar costs as shall <br />be associated with this transfer to the Chamber of the City's undivided interest, <br />shall be deducted from said $200,000.00, provided said closing costs are <br />reasonable and customary as associated with said transfer and sale. <br /> <br />All costs of appraisals associated with said transactions shall be deducted from said <br />$200,000.00. <br /> <br />All costs of pro rated taxes attributable to the Chamber of Commerce in its ultimate <br />sale shail be deducted from said $200,000.00. <br /> <br />Any and all other reasonable closing costs associated with either transaction shall <br />be deducted from said $200,000.00. <br /> <br />The remainder of the $200,000.00, following the deduction of all costs associated <br />with the ultimate sale of the Property, shall be applied as follows: <br /> <br />(1) <br /> <br />$60,000.00 (less the City's share of closing costs as specified above) to the <br />City of Paris, to be used by the City of Paris in the construction of an <br />adjacent parking lot to serve the Depot building, the Depot park, and <br />Heritage Hall; and <br /> <br />(2) <br /> <br />The remainder of the City's $60,000.00 (after construction of the above- <br />referenced parking lo0 and the Chamber's $140,000.00 shail be applied to <br />construction of improvements to the Depot structure and surrounding <br />properties deemed necessary and appropriate by the Chamber of Commerce <br />and the City of Paris. <br /> <br />Deed. At closing, Seller shall deliver a General Warranty Deed to Buyer conveying fee <br />simple title to the Seller's undivided three-tenths (3/10) interest, free and clear of ail liens, <br />claims, and encumbrances, except the following "permitted encumbrances": <br /> <br />Page 3 of 8 <br /> <br /> <br />