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Contract Concerning amar CAD PIDN 18639, Lot 1 Block 308 City of Paris, 20.741 acres <br />9 Page 7 of 8 4 -28 -2014 <br />(Address of Property) <br />23. TERMINATION OPTION: For nominal consideration, the receipt of which is hereby <br />acknowledged by Seller, and Buyer's agreement to pay Seller $ 0.00 (Option Fee) <br />which Seller or Listing Broker must receive within 3 days after the effective date of this contract, <br />Seller grants Buyer the unrestricted right to terminate this contract by giving notice of <br />termination to Seller within 180 days after the effective date of this contract (Option Period). <br />If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller <br />within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not <br />have the unrestricted right to terminate this contract. If Buyer gives notice of termination within <br />the time prescribed, the Option Fee will not-be refunded; however, any earnest money will be <br />refunded to Buyer. The Option Fee Lawill will not be credited to the Sales Price at closing. <br />Time is of the essence for this paragraph and strict compliance with the time for <br />performance is required. <br />24. CONSULT AN ATTORNEY BEFORE SIGNING: TREC rules prohibit real estate licensees from <br />giving legal advice. READ THIS CONTRACT CAREFULLY. <br />Buyer's Mr. Tracy A. Pounders Seller's <br />Attorney is: The Pounders Law Firm, PLLC Attorney is: <br />Knox Central Place Suite 200 <br />4627 N. Central Expy. <br />nallas TX 71M.S <br />Telephone: ( 903 ) 669 -1700 <br />Facsimile: (972) 332 -2573 <br />E -mail: tracy @pounderslaw.com <br />Telephone: <br />Facsimile: ( ) <br />E -mail: <br />EXECUTED the day of , 20 (EFFECTIVE DATE). <br />(BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.) <br />Buyer City of Pans, TFustee <br />by Mayor <br />Tm— w L <br />g r ATTEST <br />City Secretary <br />Seller Mr. Neal Wall <br />Seller Mrs. Vivia Wall <br />The form of this contract has been approved by the Texas Real Estate Commission. TREC forms are intended <br />for use only by trained real estate licensees. No representation is made as to the legal validity or adequacy of <br />any provision in any specific transactions. It is not intended for complex transactions. Texas Real Estate <br />Commission, P.O. Box 12188, Austin, TX 78711 -2188, (512) 936 -3000 (http: / /www.trec.texas.gov) TREC NO. <br />9 -11. This form replaces TREC NO. 9 -10. <br />TREC NO. 9 -11 <br />