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S'7 0 <br />extension of 3rd Street N.E., and two tracts of land containing 0.485 acre and 0.458 acre of land, all <br />highlighted in Exhibit `B: attached hereto; a .90 acre tract along the south boundary line of said 11.706 <br />acre tract of land from the east boundary line of North Main Street, northeasterly to 3rd St. N.E.; as <br />well as approxim -,ely three (3) acres off the east end of the above mentioned 11.706 acre tract of land, <br />same lying betwc .,n the 60 -foot strip constituting an extension to 3rd Street N.E. to Swaim's east <br />boundary line, and also being highlighted in Exhibit `B" attached. <br />4. The City will survey all of Swaim's and the City's properties, and these legal descriptions <br />will be used in the deeds of conveyance provided for herein. <br />5. Each party may acquire title insurance at their own cost and expense. The taxes on <br />Swaim's property will be prorated to date of Closing, and the Closing will be no later than ten (10) days <br />after receipt of the surveys herein called for. Each of the properties will be taken in an "AS IS" <br />condition. <br />6. This contract is also CONTINGENT upon Swaim obtaining commercial zoning for this <br />property prior to closing, and access to Loop 286 from the State of Texas. <br />THIS AGREEMENT constitutes the full understanding of the parties hereto; may not be <br />modified except in writing; shall be binding upon the heirs, executors, administrators, personal <br />representatives, successors and assigns of the parties hereto, and is executed in multiple counterparts <br />this 30th day of January, 1998. <br />ATTEST: <br />Mattie Cunningham, City Clerk <br />8' <br />THE CITY OF PARIS <br />Eric S. Clifford, Mayor <br />