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Rt.1 }{wy 271 N.
<br />Unimproved Property Contract Concerning Paris , TX 75462 Page Three 11-8-99
<br /> -- (Address of Property) .
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<br /> (3) Liens created as part of the financing described in Paragraph 4.
<br /> (4) Utility easements created by the dedication deed or plat of the subdivision in which the Property
<br /> is located.
<br /> (5) Reservations or exceptions otherwise permitted by this contract or as may be approved by Buyer
<br /> in writing.
<br /> (6) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines,
<br /> encroachments or protrusions, or overlapping improvements.
<br /> (7) The standard printed exception as tc~madtal dghts.
<br /> (8) The standard printed exception as to waters, tidelands, beaches, streams, and related matters.
<br /> Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Buyer
<br /> a commitment for title insurance (the Commitment) and, at Buyer's expense, legible copies of
<br /> restrictive covenants and documents evidencing exceptions in the Commitment other than the standard
<br /> printed exceptions. Seller authorizes the Title Company to mail or hand deliver the Commitment and
<br /> related documents to Buyer at Buyer's address shown below. If the Commitment is not delivered to Buyer
<br /> within the specified time, the time for delivery will be automatically extended up to 15 days.
<br /> []B. SURVEY: (Check one box only)
<br /> [] (1) within days after the effective date of this contract, Buyer shall obtain a survey at
<br /> Buyer's expense.
<br /> [] (2) Within days after the effective date of this contract, Seller shall cause a survey to
<br /> delivered to Buyer at Seller's expense.
<br /> [] (3) Within _ days after the effective date of this contract, Seller will deliver to Buyer the
<br /> , which
<br /> exist ng survey plat of the Property dated ,
<br /> [] will [] will not be recert fled to a date subsequent to the effective date of this contract at
<br /> the expense of [] Buyer [] Seller.
<br /> The survey must be made by a Registered Professional Land Surveyor acceptable to the Tide
<br /> Company and any lender.
<br /> Buyer may object to existing building and zoning ordinances, items 6A(1) through (8) above and matters
<br /> shown on the survey if Buyer determines that any such ordinance, items or matters prohibits the followin
<br /> use or activity:
<br /> Buyer will have 7 days after the receipt of the latter of the Commitment or survey to object in writing to
<br /> matters disclosed in the Commitment or survey. Buyer's failure to object under Paragraph 6 within the time
<br /> allowed will constitute a waiver of Buyer's right to object; except that the requirements in Schedule C of the
<br /> Commitment will not be deemed to have been waived. Seller shall cure the timely objections of Buyer or any
<br /> third party lender within 20 days after Seller receives the objections and the Closing Date will be extended
<br /> as necessary. If objections are not cured by the extended Closing Date, this contract will terminate and the
<br /> earnest money will be refunded to Buyer unless Buyer elects to waive the obiections.
<br /> NOTICE TO SELLER AND BUYER:
<br /> (1) Broker advises Buyer to have an abstract of title covering the Property examined by an attorney of
<br /> Buyer's selection, or Buyer should be furnished with or obtain a Title Policy. If a Title Policy is furnished
<br /> the Commitment should be promptly reviewed by an attorney of Buyer's choice due to the time
<br /> limitations on Buyer's right to object.
<br /> (2) If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage,
<br /> or flood control facilities and services, Chapter 49 of the Texas Water Code requires Seller to deliver and
<br /> Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the
<br /> district prior to final execution of this contract.
<br /> (3) If the Property abuts the tidally influenced waters of the state, Section 33.135, Texas Natural Resources
<br /> Code, requires a notice regarding coastal area property to be included in the contract. An addeddum
<br /> either promulgated by TREC or required by the parties should be used.
<br /> (4) Buyer is advised that the presence of wetlands, toxic substances, including asbestos and wastes or
<br /> other environmental hazards or the presence of a threatened or endangered species or its habitat may
<br /> <_ ~ , ..,~..,4.~,4 ,,ce nf t!:~ Pror~:Iy. If Buyer is concerned about these m3tters.
<br /> ah~_c~ owe.[.s h~vl'~',~'~.,,Y~h,, ~I~F¢~ nr reeL;ired'by the carries should be used
<br /> addendum e~tner promulgate,-, ~., ....... - - -~'
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<br /> for identification by Buyer (i'~, /~'% and Seller 0lA TREC NO. 9-4
<br /> Initialed ~ -
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<br /> Page 3 of 7
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<br /> (TAR-1607) 11-8-99
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