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I Ga► "'Itir_U 1: «C`rt ?1333 QrT r _ STONE TITLE COMPANY, INC. r� I I ) r . . t T. )"17-1 EARNEST MONEY CONTRACT — COMMERCIAL UNIMPROVED PROPERTY r111S CONTRACI IORM IIAS RUN PRF.PARFD FOR IISF fly MF.Al11ER5 OF rtiF. I1011S -ION BOARD OF RF.A1.1'0RS. BY ITS LEGAL COUNSEL. ANA ITORNEY Ar LSSV LICENSED IN ITXAS. AND APPROVED FOR USE IN A TRANSACTION INVOLVING THE SALE OF COMMERCIAL UNIMPROVED PROPF.RI -Y. TIIIS FORM IiAS NOT BEEN DRAFTED FOR A SPECIFIC TRANSACTION, mERE.FORF.. THE PARTIES ARE ADVISED TO CONSULT TIIEIR ATTORNEYS BEFORE SIGNING.. 1. PARTIES: (" i t v O f Pss r i a tSellerl cremes Tel tell and comes• sit Bobby SO a- lJ- wo_Ofl_ and —C-I i?-n —Taw -n s a (Bt1ytl) and Reiter atacn n. beef Intm Seller rite I.dhwt'onx rn,perry 6+r she amsidennon and orym and +uhlrct rn tht terms, pmwoons. and conditions hernnalier we hvih. 1 PROPERTY: A iner 4 land uruated in -Lamar . C-moy. T—Ai. nogether with all ompt.-crmrntt And Ile urc'. rrivdrgto, and .q•pora•nancrt [Vital? then-r. Lrn•ui.daa•r t..11r. nu•h s311eJ 'Tmry•rry:' .letanl.t•J ail Ltlh.wa A-11tu as wt one tat Fdul•as `A" .n mcha.l hrr•n. .tn.l u101111•rntd 110, r Block 276 Lot 6, 4.14Aca. Sec Attaclied The metes and lvwmis Jmription determined la the survey oI the Pol erty hcremalier pn.vided I.-r will replace Erlubn ':A" attached hereto in the event it shiwld differ from the atatched ealubu. ). CONTRACT SALES PRICE: A. Cash payable at closing .......................... ........... ............................... 5 B. Sums of all motes described in Paragraph 1 bell w ............. ............................... ... S C. Sales Price (Sum 4 A and BI ............................... I.............. .. ............. S.. — -- D. Check applicable box for Jewinmation of Sales Price: Jj D ID The tales price shall mu be based upon (lie number of .scresistpnre feet comprising the Property a% Joermmed by the surety. C 12) If the survey ad the Property reapnred by Pangnrh 19'rellecu shat the number td total 1 );acres 1 I square feet comrrnmel the Property is mm or less than 1 I tor.! acres or 1 I Total wluare leer 1•'7tu3l Meal, the Sales Price And the cash ramble at cl.nire shall be tncrraswl or minced Iva the rnidtses A II multiplied by the amount of increase of Jeerc3w t.l the tmal area. O 01 If the survey of the Pmperty required by Paragraph 19 reflects that the number of net 1 ) acres ( ) square feet comprising the Property is more w less than 1 ) lice acre" at 1 I net wluare feet ("No Aaca •1, the Salo Price and the .Cash payable AT chnuog .hall be Increased or n•Jmced k- he rn mce of $ multiplied by. the amtwnt it( increase ,tt decrease at( die net Arta. 4. FINANCING: • A. SUBJECT TU: Buyer takes wibjccr no, .rod dates not assume raymens td, rile unleud b:dame M that rnnrosuuy nowt to Jared , and Does nut Assume thtne oblitatielms iuiptna'J IV the Ned of Trust recorded in tilt coeinty where the Property is situated. Buyer shall pay the installment payment due after the date u( closing, The rrincgtul balance at cloning will be S.. allowing for an agreed 11 variance. The cash payable at chasing shalt be adjusted for the amount of such variance. Should this mile be acceptable sit the note holder, or if the variance exceeds rile amount aN,,,r, ter vhu iIJ the terms of the nose or deed of trust or Intent nee be muddied. or should Buyer be required to pay a Transfer fee in excess of this Contract may be tersnmated it Buyer's option and the Eamesr Money shall be refundeJ to Buyer. • B. ASSUMPTION: Buyer shall Assume she unpaid balance of shut pntmnseiry note payable to Jared . anel dwtw ttbligatrons imptned by she Deed of Truss accorded in %fume Page of she Deed of Trust Records in the county where the Property is situase,f. Buyer shall pay the installment payment due after the date rJ closing. The assumed principal balance at closing will be S.. allowing fur an Agreed j variance. The cash payable at closing shall be adjusted for the amount of such variance. Buyer shall apply for astumrtntn of -rnwal within Jays (nine she effective date hemtd and $11311 make every reawmiNc effort ro obtain the same. If the variance cxceeJs she a6we amount, or the existing interest nsc is increased alrrva• %, or Buyer is required to pay An ouumptnin fee in excess if S . sir natmpthon approval tannin he .-brained within Jays from the effective Jatc hereof, able C muract may be terminated at Buyers option and tilt Eartttst M.- icy shall he refunded to Buyer. 7 C THIRD PARTY FINANCING: This Contract is subject to Approval of a loan Lit Buyer by a third party in the amount of j p3yahlt in installments k,r not Its% than yran with the interest rase Inn to exceed % rcr annum, and with each principal and interest installment not tit exceed f . O including intemst O plus interest. Direct shall apply for the loan within days from the effective Jate hereof and shall make every reasonable effort to obtain appntval. If the loan has not been appnwcd within Jays from the e(fective 1131e hereof, this Gintract shall terminate and The Earnest Money shall be tefunded to Buyer. O D. SELLER FINANCING: Rover 4,41 eaause a pnwninwny mite m Seller in the principal sum tit 11 , bearing 91t interest per annum• And payable: (Check I, 1, ) and /or 1 bektw) C (1) In (till tin flat __ Jay of , 19 , with accrue) hutrest being Joe and payable C Ill In ':o monthly C annual ).,alter: __ math. beemnmg .v1 the Jay .d die J.w tJ uor -J. dull be thtn Jew aild ray-lble. 1 .J 4 Installments td S , O including interest U plus intent , 19 , and continuing regularly thereafter until 19 when the entice ."m—i till principal and interval then remaining 1' 1 A . .. e.� .