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2009-016-ORD REZONE 3700 BONHAMORDINANCE NO. 2009 -016 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, AMENDING ZONING ORDINANCE NO. 1710 OF THE CITY OF PARIS, TEXAS, AS HERETOFORE AMENDED, SO AS TO REZONE PART OF LOTS 9 AND 9A, CITY BLOCK 331, LOCATED IN THE 3700 BLOCK OF BONHAM STREET, CITY OF PARIS, LAMAR COUNTY, TEXAS, FROM A PLANNED DEVELOPMENT DISTRICT (PDa -f) TO A GENERAL RETAIL DISTRICT (GR) DIRECTING A CHANGE ACCORDINGLY IN THE OFFICIAL ZONING MAP OF THE CITY; PROVIDING A REPEALER CLAUSE, A SAVINGS CLAUSE, A SEVERABILITY CLAUSE, A PENALTY CLAUSE, AND AN EFFECTIVE DATE. WHEREAS, the Planning & Zoning Commission received a request for an amendment to the Zoning Ordinance of the City of Paris to rezone Part of Lots 9 and 9A, City Block 331, City of Paris, Lamar County, Texas from a Planned Development District (PDa -f) to a General Retail District (GR); and, WHEREAS, on April 6, 2009, the Planning and Zoning Commission conducted a public hearing on the proposed amendment to the City zoning ordinance and, following said hearing, made formal recommendation to the City Council to approve the requested zoning; and, WHEREAS, on April 27, 2009, following notice and publication as required by law, the City Council of the City of Paris conducted a public hearing on the proposed amendment to the City zoning ordinance, and having considered the recommendations of the Planning and Zoning Commission and the testimony and evidence introduced at said public hearing, found and determined that approving the aforesaid zoning change would be consistent with the comprehensive plan of the City of Paris, consistent with the City zoning ordinance, and in the best interests of the public health, safety, and welfare of the citizens of the City of Paris. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble to this ordinance are hereby in all things approved. Section 2. That the Official Zoning Map of the City of Paris, Texas and Zoning Ordinance No. 1710 of the City of Paris as heretofore amended is hereby further amended to rezone Part of Lots 9 and 9 -A, City Block 331, located in the 3700 block of Bonham Street, City of Paris, Lamar County, Texas, from a Planned Development District (PDa -f) Retail Shopping Center or Office Center to a General Retail District (GR), said property being more particularly described in Exhibit A attached hereto and made a part hereof. Section 3. That the Chief Building Official of the City of Paris be, and he is hereby, directed to change the Official Zoning Map of the City of Paris, Texas to reflect the changes set forth in this ordinance. Section 4. That all provisions of the ordinances of the City of Paris, Texas in conflict with the provisions of this ordinance are hereby repealed, and all other provisions of the ordinances of the City of Paris not in conflict with the provisions of this ordinance shall remain in full force and effect. Section S. That the repeal of any ordinance or part of ordinances affected by the enactment of this ordinance shall not be construed as abandoning any action now pending under or by virtue of such ordinance or as discontinuing, abating, modifying, or altering any penalty accruing or to accrue, or as affecting any rights of the municipality under any section or provisions of any ordinance at the time of passage of this ordinance. Section 6. That it is the intention of the City Council of the City of Paris that this ordinance, and every provision hereof, shall be considered severable, and the invalidity or partial invalidity of any section, clause, or provisions of this ordinance shall not affect the validity of any other portion of this ordinance. Section 7. That any person violating any provision of this ordinance shall be guilty of a Misdemeanor, and upon conviction, shall be subject to a fine in accordance with provisions of Sec. 1 -6 of Chapter One of the City of Paris Code of Ordinances, and each and every day's continuance of any violation of the above - enumerated sections shall constitute and be deemed a separate offense. Section B. Introduced and read on first reading on April 27, 2009, at a regular meeting of the City Council of the City of Paris and read and passed on second reading on May 11, 2009, at a regular meeting of the City Council of the City of Paris; the same being two (2) separate regular meetings of the City Council of the City of Paris. Section 9. That this ordinance shall become effective from and after its passage of the second reading and publication as required by law. PASSED AND ADOPTED on by the city Council of the city of Paris, in regular session on this the 11th day of May, 2009. ATTEST: (]� �1, � _La ice Ellis, City Clerk APPROVED AS TO FORM: W. Kent McIlyar, 0 Attorney w to a — T" 0 C- -, 3 CD w J Ln O n" C �7 w CD Ln J (n J < -s (D (D � c1_ a C L1. C-i (D J Q- n CD O CD 0 r+ -s (p O -+, O (D c x =3 w C]. 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(D C N "'s J T C J CD L O n - o C c -h "S C7 ' p O t (D -C hn —( J. r o C1 w ^ a fD (D C-) f C-) to D J n 1 r i n � -h rJ O � r 1 Loor n n 0 .o w 0 R 0 C d N f,, 1 1 --t W 6 M n U O J n r� M J � V m ■ AZI �1 • w* • ~ t) U Z F W Q W C � ► C (n • I 02I I N i M OLLJ NI hl til hI� "JI �I I � I �► h O I 0�1 p u M n U O J n r� M J � V m ■ AZI P. 0, Box 9037 a Paris, Texas 75461 a 903. 784 -9234 APPLICATION FOR ZONING CHANGE TYPE OF ACTION REQUESTED: IN Zoning Change PROPERTY INFORMATION: For Office Use Onl :Request Number: Date Rcvd: �� tg Date: �.1 -�� V ❑ Specific Use Permit ❑ Planned Development Address: 3700 Block Bonham Name of Business or Building (if applicable): Vacant Lot Part of 9 331 N/A City Block (Tract 1 & Tract 2 as shown on drawing) Lot & 9A Block Subdivision Current Zoning: PDa—f What is the proposed use of the property? Restaurant Proposed Zoning: Describe the character and /or nature of uses of surrounding property. Vacant — wooded Will the re -zoned designation be compatible with the classification and use of adjoining lands? Yes ] If No, how do you propose to reduce any adverse impact? Is the tract unsuitable for uses permitted under the present zoning classification? Yes / If No, why are you requesting a change in the permitting uses? copy of OWNER/APPLICANT my INFORMATION: sion letter ONLY IF the contract provides (hat lthe epurchase eIs owner is contingent ulpon the applicant successfully obtaining aa zoning from change.) Applicant's Name: Jef f Martin Road, Reno, TX 75462 Phone: (903) 785 -4677 Applicant's Address: 5950 Lamar Property Owner's Name: Mary Montgomery Property Owner's Address: P.O. Box 6517, Paris, TX 75461 Phone: (903) 784 -8091 ss Property ner' seeteet e® ttaera e® �eieer aer er a® er esr B® rrr a��er ite®r.® r�r arr a ® ®t5CommunestoBEteemomentwasann ama■ENnow. was REQUIRED SUBMITTALS (check those items which are included): if Planned Development requested, include also: 0 Completed application signed by the ownerlapplicant p Four (4) copies of a preliminary site plan m Copy of a deed with metes and bounds 19 Permission letter from owner ® Copy of contract to purchase the property I have carefully read the complete application and know the same is true and correct. I hereby agree to comply with all provisions of local, State, and Federal Laws will bysomplied with, whether herein specified or not. I certify that I am the owner of the above property or his duly authorize ag t 5950 Lamar Road, Reno, TX 75462 Address: Signed: Phone Number: 903 78 —4677 PrintName: e Martin Fax Number: 903 785 -5206 Date: March 17 2009 SWORN TO AND SUBSCRIBED BEFORE ME this day of /)/)12 r EEEE FILED: t tpp rr 12/06 AUTHORIZATION FOR CHANGE OF ZONING REQUEST I authorize Jeffrey Martin and Larry Martin to seek a change in zoning on the below referenced property to allow for the construction and operation of a free standing fast food restaurant with a drive -thru. Legal Description: City of Paris, Block 331, Lot 9 -A & 59.9' of lot 9, corner of Loop 286 and Highway 82 West, .9213 Acres. See attached. Mary Montgomery i MARTIN SUBWAYS JEFF MARTIN CO -OWNER 5950 LAMAR RD PARIS, TX 75462 CITY OF PARIS ATTN: GINA RE: ZONING CHANGE REQUEST BONHAM & LOOP This letter provides permission to change the zoning request for the above locatioa'. I would like to change my zoning request from COMMERCIAL to GENERAL RETAIL. I t is my understanding that a free standing restaurant with drive thru is allowed in general retail. Thank You, Jeff Martin, Co -Owner Martin Subays � 39rd i �. ia3sr+i a35 1 • .. C 20,11 GENERAL WARRANTY DEED THE STATE OF TEXAS S KNOW ALL MEN BY THESE PRESENTS: COUNTY OF LAMAR 5 That PARIS INDEPENDENT SCHOOL DISTRICT, acting by and through the President of its Board of Trustees, William R. Lancaster, duly authorized, of the County of Lamar, State of Texas, for and in consideration of the sum of Ten and No /100 Dollars ($10.00) cash and other good and valuable consideration, to us in hand paid by NORMAN MONTGOMERY the receipt and sufficiency of which is hereby acknowledged; have Granted, Sold and Conveyed, and by these presents do Grant, Sell and Convey unto the said NORMAN MONTGOMERY of the County of Lamar, State of Texas, whose mailing address is 2940 Kessler Drive, Paris, Texas 75460, all of its one -half (5) undivided interest in and to that certain tract or parcel of land situated in Lamar County, Texas, and described as follows: A part of the Isaac Cruise Survey 1162, and being a part of a 16.425 acre tract of land by conveyed Jim F. Kirby and J. ael Henderson deed recorded in Vol. 631, page -half ($) Records of said County and State, one being undivided interest of said 16.425 acre tract Paris Independent School District conveyed to the recorded in Vol. 709, Page 999, of said Deed as Records. BEGINNING at an iron pipe (f) for corner at an el corner of said 16.425 acre tract, said point being the Northeast corner of a 0.714 acre tract J. Michael of land conveyed Jim F. Kirby and Henderson by deed recorded in Vol. 662, Page 118, .of said Deed Records; THENCE South 0 Deg. 02 Min. West a distance of 150.3 ft. to an iron pin (s) for corner at the said 16.425 most Southerly Soutbwest corner said 0.714 acre tract cornerf of acre tracts THENCE South 89 Deg. 56 Min. East along the North Boundary Line of Bonham St. a distance of 59.9 ft. to an iron pin (a) for corner; North 0 Deg. 02 Min. East a distance THENCE of 150.3 ft. to an iron pin (s) for corner; THENCE North 89 Deg. 56 Min. West a distance of 69.9 ft. to the place of beginning and land or 9,003 s, containing 0.2067 acres of oI_ _ 1 ti RP 21PACE160 LO Y = .o l o Rea` Property 21 Page 160 )0 // TO HAVE AND TO HOLD the above described premises, together with all and singular, the rights and appurtenances thereto in anywise belonging unto the said NORMAN MONTGOMERY, his heirs and assigns foreveri and it does hereby bind itself, its successors and assigns, to Warrant and Forever Defend all and singular the said premises unto the said NORMAN MONTGOMERY. his heirs and assigns, against every person whomsoever lawfully claiming, or to claim the same, or any part thereof. WITNESS our hands at Paris, Texas, this day of Marcb A.D. 1988. PARIS INDEPENDENT SCHOOL.DISTRICT ��TPA� (gyp Tf Board of Trustees ATTEST: ov s rave., ecretary THE STATE OF TEXAS f COUNTY OF LAMAR § BEFORE ME, the undersignd authority, in and for said County, Texas, on this day personally appearedto subscribed to othe foregoing i strument eland acknowledged to me that he executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAT OF OFFICE, this � day of A.D., 1988. ary c, tate o exam inted Name. My commission expires: 7 Real Property 21 Page 161 i )0 // TO HAVE AND TO HOLD the above described premises, together with all and singular, the rights and appurtenances thereto in anywise belonging unto the said NORMAN MONTGOMERY, his heirs and assigns foreveri and it does hereby bind itself, its successors and assigns, to Warrant and Forever Defend all and singular the said premises unto the said NORMAN MONTGOMERY. his heirs and assigns, against every person whomsoever lawfully claiming, or to claim the same, or any part thereof. WITNESS our hands at Paris, Texas, this day of Marcb A.D. 1988. PARIS INDEPENDENT SCHOOL.DISTRICT ��TPA� (gyp Tf Board of Trustees ATTEST: ov s rave., ecretary THE STATE OF TEXAS f COUNTY OF LAMAR § BEFORE ME, the undersignd authority, in and for said County, Texas, on this day personally appearedto subscribed to othe foregoing i strument eland acknowledged to me that he executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAT OF OFFICE, this � day of A.D., 1988. ary c, tate o exam inted Name. My commission expires: 7 Real Property 21 Page 161 .. 20. 1, GENERAL WARRANTY DEED THE STATE OF TEXAS S KNOW ALL MEN BY THESE PRESENTS: COUNTY OF LAMAR S That We, JIM F. KIRBY of Dallas County, Texas, and J. MICHAEL HENDERSON of the County of Oklahoma, State of Oklahoma, for and in consideration of the sum of Ten and No /100 Dollars ($10.00) cash and other good and valuable consideration, to us in hand paid by NORMAN MONTGOMERY the receipt and sufficiency of which is hereby acknowledged have Granted, Sold and Conveyed, and by these presents do Grant, Sell and Convey unto the said NORMAN MONTGOMERY of the County of Lamar, State of Texas, whose mailing address is 2940 Kessler Drive, Paris; Texas 75460, all that certain tract or parcel of land situated in Lamar County, Texas, described in Tract I below and all our one -half (°i) undivided interest in and to Tract II described below, said tracts being described as follows: TRACT I Situated within the Corporate Limits of the City of Paris. County of Lamar, and State of Texas, a part of the Isaac Cruise Survey 4162, and being a 0.714 acre tract of land conveyed Jim F. Kirby and J. Michael Henderson by deed recorded in Vol. 662, Page 118, of the Deed Records of said County and State. BEGINNING at an iron pipe (f) for corner at the Northeast corner of said 0.714 acre tract, said point being an el corner of a 16.425 acre tract of land conveyed Jim F. Kirby and J. Michael Henderson by deed recorded in Vol. 631, Page 264, of the Deed Records of said County and State. THENCE North 81 Deg. 45 Min. West a distance of 214.1 ft. to an iron pin (f) for corner at the Northwest corner of said 0.714 acre tract, and the most Westerly Southwest corner of said 16.425 acre tract; THENCE along the Easterly Boundary Line of Loop Hwy. 286 as follows: South 5 Deg. 29 Min. East a distance of 101.5 ft. to a concrete marker (f) ; South 39 Deg. 56 Min. East a distance of 104.1 ft, to a concrete marker (f) for corner at the Southwest corner of said 0.714 acre tract; THENCE South 89 Deg. 56 Min. East along the North Boundary Line of Bonham St., a distance of 135.2 ft. to an iron pin (s) for corner at the Southeast corner of said 0.714 acre tract and the most Southerly Southwest corner of said 16.425_ _ acre tracts THENCE North 0 Deg. 02 Min. East eldi ncg of 150.3 ft. to the place of beginning and_?:conw. ,m p twining 0.7146 acres of land. RP 21 FACE 162 c o Real Property 21 Page 162 TRACT II Situated within the Corporate Limits of the City of Paris, County of Lamar, and State of Texas, a part of the Isaac Cruise Survey 1162, and being s part of a 16.425 acre tract of land conveyed Jim F. Kirby and J. Michael Henderson by deed recorded in Vol. 631, Page 264, of the Deed Records of said County undivided interest of said id1 State 6.425 acre ntract being conveyed to the Paris Independent School District as recorded in Vol. 709, Page 999, of said Deed Records. BEGINNING at an iron pipe (f) for corner at an el corner of said 16.425 acre tract, said point being the Northeast corner of a 0.714 acre tract of land conveyed Jim F. Kirby and J. Michael Henderson by deed recorded in Vol. 662, Page 118, of said Deed Records; THENCE South 0 Deg. 02 Min. West a distance of 150.3 ft. to an iron pin (a) for corner at the acre t acct y and the y Southwest co Southeast as id10.714 cornex acre tracts THENCE South 89 Deg. 56 Min. East along the North Boundary Line of Bonham St. a distance of 59.9 ft. to an iron pin (s) for corners THENCE North 0 Deg. 02 Min. East a distance of 150.3 ft. to an iron pin (s) for corner; i THENCE North 89 Deg. 56 Min. West a distance of 59.9 ft. to the place of beginning and containing 0.2067 acres of land or 9,003 sq. ft. TO HAVE AND TO HOLD the above described premises, 'i together with all and singular, the rights and appurtenances thereto in anywise belonging unto the said NORMAN MONTGOMERY, his heirs and assigns forevert and we do hereby bind ourselves, our heirs, executors and administrators, to Warrant and Forever Defend all and singular the said premises unto the said NORMAN MONTGOMERY, his heirs and assigns, against every person whomsoever lawfully claiming, or to claim the aame, or any part thereof. WITNESS our hands at Paris, Texas, this zz..hAay of April, A.D. 1988. U 21 NC1163 Peal Property 21 Page 163 THE STATE OF TEXAS S COUNTY OF LAMAR s I BEFORE ME, the undersigned authority, in and for said County, Texas, on this day personally appeared JIM F. KIRBY. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. / GIVEN UNDER MY HAND AND SEAL OF OFFICE, this 2,��day ( April, A.D., 1988. 7 � Notary Public/State of Texas Printed Name: .': / /`.y,/ (.1 /nf/u1A'- My Commission Expires: jr.,7,v,f/ THE STATE OF NEW YORK S COUNTY OF BEFORE ME, the undersigned authority, in and for said County, New York, on this day personally appeared J. MICHAEL HENDERSON, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this 31i'4 day of April, A.D., 1988. l MORTON 11 �. at'.UtH NOWYp lk,S::eofNeW Vol, — tay Public, S( te o4— ew or Printed Name: ;: '" � ","':`•: ".'' .'owf My Commission Expires: '�,rnam RP 21PACE164 Real Property 21 Page 164 TExas ASSOCIATION OF RE PROPERTY COMMERCIAL CONTRACT - UNIMPROVED ©Texas Asaoclad- of REALTORSm, Inc. 2005 WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®IS NOT AUTHORIZE USE OF THIS FORM BY PERSONS described in Paragraph 2. Buyer agrees 1. PARTIES: Seller agrees to sellfor he sales price stated in Pa agraph 3. The parties to this contract are: to buy the Property from Seller Seiler: biar on ome Address: P.o BOX 6517 Paris TX 75461 Fax: Phone: E -mail: nmont me suddenlink . n t Buyer: Jeffre Mar in and Larry r in 5950 Lamar Avenue Paris TX 75462 Address: Fax: Phone: 903 739 -0729 E -mail: 2. PROPERTY: L r County, Texas at A. Property" means that real property situated in 82 west A. " Prop of Zoo 286 and H 1_A or as follows: (address) and that is legally described on the attached Exhibit Corner of Loop 286 lock 331, Lot 9 -A & 59 .91 of Lot 9, City of Paris, B and Highway 82. West, .9213 acres. together with: including Seller's right, title, B. Seller will sell and convey the Property penances pertaining to the Property ores, and rights -of -way; (1) all rights, privileges, and app and interest In any minerals, utilities, adjacent streets f r all strips, r part of the Property; and (2) Seller's interest in all leases, rents, permits is related t the Property. (3) Seller's interest in all licenses and p h 12 or an addendum.) (Describe any exceptions, reservations, or restrictions in Paragraph 3. SALES PRICE: sales price for the Property: A. At or before closing, Buyer will pay the following $ (1) Cash portion payable by Buyer at closing . described in Paragraph 4 ...... • ... . (2) Sum of all financing ... $ (3) Sales price (sum of 3A(1) and 3A(2)) . • • • . . • • • . ld,� -� Page 1 of 12 10 -18 -05 Initialed for Identification by Buyer, nd Seller (TAR-1802) Montgomery - M Col dwell Banker 3749 Lamar AveParis, TX 75460 9172 Chad Brown zi LCxaIX com 782 - 9800 Fax: (903) Phone: (903) Produced with ZipForrr� by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 �--- 286 and H 82 West Concerning Corner �L y Commercial Contract - Unimproved Property B. Adjustment to Sales Price: (Check (1) or (2) only.) ® (1) The sales price will not be adjusted based on a survey, The sales price will be adjusted based on the latest survey obtained under Paragraph 6B. ❑ (2) per. . (a) The sales price is calculated on the basis of $ ❑ (i) square foot ofotal❑area total Darea net area. net area. ❑ (ii) acre of D t Property. Net area" "Total area" means all Land area within the perimeter boundaries of the Prop y ` (b) means total area less any area of the Property within: ❑ (i) public roadways; ' is -of -wa and easements other than those that directly provide utility services to the ❑ (n) ngh Y Property; and ❑ (iii) % of the stated sales price, either party Y (c) If the sales price is adjusted by more than terminates this contract or if the a terminate this contract by providing written notice to the other. party within ---- a may art receives the survey. If neither party after the terminating party es the ge, the adjustment to the sales price will be made to the variance is less. than the stated percentage, b Buyer. cash portion of the sales price payable y as follows: LACING: Buyer will finance the portion of the sales price under Paragraph 3A(2) — 4• FINANCING: loans in the total amount of $ ® A. Third Party Financing: One or more third party This contract: ❑ (1) is not contingent upon Buyer obtaining third party financing. - Bu ccordance with the attached ® (2) is contingent upon Buyer obtaining third party financing in a Y Commercial Contract Financing Addendum. Buyer will Pro erty, which balance at closing will be tion: In accordance with the attached Commhe ial Contract Financing Addendum, ❑ B. Assu____mp — promissory note secured by assume the existing p $ note and deed of trust from Buyer to Seller under the ❑ C. Seller Financing: The delivery of a promissory term s of the attached Commercial Contract Financing Addendum in the amount of $ 5. EARNEST MONEY:. 1 000 0o as earnest A. Not later than 3 days after the effecQtive date, Buyer must deposit $ money with. Stone title Can pans TX 7 46 (escrow agent) at 33 I1?; is st. (address). If Buyer fails to u er earnest d pos snthe Seller may terminate this contract by providing written notice to Buy earnest money and may exercise Seller's remedies under Paragraph with the escrow agent to be made B. Buyer will deposit an additional amount of $ under Paragraph 76 expires; or D (i) part of the earnest days a b inate fter Buyer's right to term D (ii) if Bu er fails to deposit the additional a de uosit d the additional amoun . 5B Buyer will be in default Y within 3 days after Seller notifies Buyer that Buyer has not st moneypin an interest - bearing account at a C. Buyer may instruct the escrow agent to deposit the eareest to Buyer. federally insured financial institution and to cre It any -y�, Page 2 of 12 0-18-05 Initialed for Identification by Buye, and Selle.�Ql �--- (TAR -1802) 1 U \ Montgomery - M ichi an 48028 www zips °m Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, M 9 Commercial Contract - Unimproved Property Concerning TITLE POLICY AND SURVEY: A. Title Polic ex ense, will furnish Buyer an Owners Policy of Title Insurance (the le title company) (1) Seller, at Seller's P stone Title _Company issued by amount of the sales price, dated at or after closing, insuring Buyer against loss under the title In the Buyer in writing; and policy, subject only to: be approved by Buy g promulgated ated form of title policy unless this (a} those title exceptions permitted by this contract or as may (b) the standard edpeS otherwcse.tions contained in the p 9 contract pro standard tinted exception as to discrepancies, nfls,imP ovemaents: lines, area and boundary or any overlapping �2) nesSOr any enperoachments or protrusions, olic ® (a) will not be amended or deleted from the title p Y b will be amended to read "shortages in areas" at the expense of ❑ the Property Buyer ❑ Seller. under ❑ () p within the time required (3) Buyer may object to an y restrictive covenants on Paragraph 6C. (4) Within 14 --days after the effective date, Seller will furnish Buyer aC it title texceptions. Seller (the commitment) including legible copies of recorded documents evidencing title company to deliver the commitment and related documents to Buyer at Buyer's authorizes the P address. B. Surve : Within days after the effective date: of the survey to 1 Buyer will obtain. a survey of the Property at Buyer's expense and deliver a copy ❑ () a must be made in accordance with the Texas Society of Professional Surveyors' Seller. The survey 1A survey under the appropriate condition., standards for a Category Seller's expense, will furnish Buyer a survey of the Property dated after the effective date. ❑ (2) Seller, at Se P e must be made in accordance with the Texas condifion!ety of Professional Surveyors The survey 1A survey under the appropriate standards for a Category of Seller's existing survey an a true and correct copy the title ® (3) Seller will deliver to Buyer and the title company a along with an affidavit required by t le of the Property dated Janu r 1 at royal of the survey. If the survey is not acceptable to the title company, company for app acceptable to the title company and deliver the acceptable Seller's expense, will obtain a survey within 15 days after Seller receives notice that the survey to the Buyer and the title company The closing date will be extended daily up to existing survey is not acceptable to the title company. required. 15 days if necessary for Seller to deliver an acceptable survey within the time req C. Bu per's Objections to the Commitment and Survey: ment copies of the documents evidencing the (1) Within —5 days after Buyer receives the commit and an required survey, Buyer may object in writing to matters disclosed in t E title exceptions, Y items if: (a) itle other than thosE the matters disclosed constitute a defect ° sinu obBuyer willtassume at closing; o art of the Property lies in a special flood hazard area (an A or V permitted by this contract or liens that Seller will sates a cloer is deemed to receive the survey or (b) the items show FEMA)y If Paragraph 66(1) applies, Buy zone as defined by • the date of Buyer's actual receipt of the survey; or (ii) of the ,deadline specified er the earlier of: (e) Paragraph 66. `f� Page 3 of 1: Initialed for Identification by Buye and Seller (TAR -1802) 10 -18 -05 r Montgomery • 1 produced with ZipForrra by zipLogix 16070 Fifteen Mile Road, Fraser, Michigan 48026 www zipLoaix com Commercial Contract - Unimproved Property Concerning b ctions within 15 days after Seller receives (2) Seller may, but is not obligated to, cure Buyer's timely o !e to provide such time to cure the the time required, Buyer may terminate this the objections. The closing date will be extended as necessary he time b which Seller must cure objections. If Seller fails to cure the objections by contract by providing written notice to Seller within 5 days after t Y e objections. If Buyer terminates, the earnest money, less any independent consideration under th 1 Paragraph 7B(1), will be refunded to Buyer. to time) object or terminate under this Paragraph e 6C.is a waiver of C of the commitmentr's right tc (3) Buyers failure Y . object except that Buyer will not waive the requirements in Sche u 7. PROPERTY CONDITION: A. Present Condition: Buyer accepts the Property in expense, will complete the following before closing: its present condition except that Seller, at Seller's Period: Buyer may terminate this contract for any reason within 6o days after the B FPasibilitY providing Seller wriften notice of termination. (Check only one box.) effective date (feasibility period) by p Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer less ® (1) If Buy oo that Seller will retain as independent consideration for Buyer's unrestricted the $ 100 the escrow agent. The independent consideration is to be right to terminate. Buyer has tendered the independent consideration to Seller upon stated in this amount specified in Paragraph 5A to of the sale. If no dollar amount is credited to the sales price only upon closing r_,1_ 4., +;,.,Iv riP�osit the earnest mone Bu er will not have the right o Faro terminate under this Paragraph 76. as ❑ (2) Not later than 3 days after the effective date, Buyer must pay Seller $ independent consideration for Buyer's right to terminate by tendering such amount to Seller or agent. If Buyer terminates under this Paragraph ion6' The eindependent refunded to l be Sellers g Buyer and Seller will retain the independent poonndosing of the sale. If no dollar amount is stated in this credited to the sales price only up rah 7B 2 or if Bu er fails to timel a the rode endent consideration Bu er will not have Pars _�_ . ,..,.,�r +►,ic Par;;% raDh 7e. C. Ins ections Studies or Assessments: may complete or cause to be completed (1) During the feasibility period, Buyer, at Buyer's expense, d all inspections, studies, or as of the Property (including all improvements an any an P fixtures) desired by Buyer. (2) Buyer must: qualified inspectors and assessors; (a) employ only trained and q b notify Seller, in advance, of when the inspectors of Seller; be on the Property; (c) abide by any reasonable entry rules or requirements (d) not interfere with existing operatoinn nal conditiotn of f the altered edueato inspections, studies, or (e) restore the Property to its le ng or causes to be completed. assessments that Buyer comp er is (3) Except for those matters that arise from the negligence off Seller and Seller's xpense agents, Buyer from responsible for any claim, liability, encumbrance, cause `y,,., � (�., Page 4 of 12 1802 10 -18 -05 Initialed for Identification by Buyer and Sellerb / D 0n_ (TAR ) Montgomery - M Produced with ZipFonrZ by zipLogix 18070 Fifteen we Road, Fraser, Michigan 46026 wwry ziD� m ' " -- Comm Concerning Contract - Unimproved Property an property damage or personal injury. against any claim Buyer's inspections, studies, odarmless,assessments defenduSleller and Seller's a agents paragraph survives Buyer will indemnify, ho involving a matter for which Buyer is responsible under this paragraph termination of this contract. D. Property Information: Seller will deliver o days after the effective date, (1) Delive of Pro ert Information: Within_ ---- any modifications, supplements, Buyer: ert including ❑ (a) copies of all current leases pertaining to the Prop y' Property that Buyer will assume or that Seller or amendments to the leases; ❑ (b) copies of all notes and deeds of trust ag will not pay in full on or before closing; ainst the Prop ychnical reports, studies, or analyses ❑ (c) copies of all previous environmental assessments, g eote made on or relating to the Property; for the previous 2 calendar years; ❑ (d) copies property tax statements for the Property eity's water and sewer service provider; C) (e) plats of the Property; Pro C] (f) copies of current utility capacity letters from the p and ❑ (9) Buyer will, not later than return to Seller all those items described in Pageliver copies (2) Return of Property Information: I this contract terminates for any reason, 10 days after the termination () that .Buyer completed or caused to that Seller delivered to Buyer and all copies that Buyer -Property those items; and of all inspection and assessment completed. This Paragraph 7D(2) surv'vesttermination of this contract. be comp in the same manner as Seller: (1) will operate the Property rug, St business standards; and (2) will not transfer or dispose E. Contracts Affecting Operations: Until closing, ersonal property or other on the effective date under reasonably p or an of the p P y y period ends, Seller may of any part of the Property, any interest or right in the Property, without items described in Paragraph 26 or sold un econtract that affects the operation sof the Property not enter into, amend, or terminate any other Buyer's written app g. LEASES: fail to comply with any existing lease, or e Seller is to assign to Buyer under this contract must be . in full force and a ec A. Each written leas not enter into any new lease, according to its terms. Seller may existing lease without Buyer's written consent. Seller must make any amendment or of the following exist if an exist at the time Seller provides the .leases to the Buyer or disclose, in writing, Y subsequently occur before closing: with Seller's obligations under the leases; offsets (1) any failure b l under any lease that entitle the tenant to terminate the lease or seek any (2) any circumstances or damages; lease; (3) any advance sums paid by a tenant under any s bonuses, free rents, rebates, brokerage commissions, or other matters that a lit (5) any amounts payable under the leases that (4) any concession , any lease; and t have been assigned or encumbered, except as secu for loan(s) assumed or taken subject to under this contract. days after the effective date, Seller deliver to Buyer that leases space) B, Estoppel Certificates: Within _---- by certificates signed not earlier c than must state: in the Property. The estoppel L&__—.nd �,,,_ QC_ ,, page 5 of 12 Seller- laU -d�- (TAR -1802) 10 -18 -05 Initialed for Identification by Buye Montgomery - M zi L ix 1807D Fifteen Mile Road, Fraser, Michi an 48026 Produced with ZipForrr� by P o9 9 Commercial Contract - Unimproved Property Concerning - d r tenant as of the date the estoppel certificate (1) that no default exists under the lease by the landlor o is signed; ed rents to be paid through the end of the lease and any rental payments (2) the amount of the dCneadvance; that have been p n (3) the amount of any security deposit; (4) the amount of any o the lease; is entitled against rent; (5) the expiration date (6) a description of any renewal options; and (7) 9. BROKERS: A. The brokers to this sale are: License No. Cooperating Broker Address Fax Phone E -mail: Cooperating Broker represents buyer. coldwell Banker Region al Realt License No. Principal Broker 749 Lamar Avenue Address Paris TX 75460 903 782 -9800 903 782 -9172 Phone E -mail: chad.brown@coldwellbanker -cOm Principal Broker: (Check only one box.) ❑ represents Seller. only. * represents Buyer only. en Seller and Buyer. ❑ is an intermediary B. Fees. (Check only one box.) specified by separate written commission agreement ❑ (1) Seller will pay Principal Broker the fee Cooperating Broker the fee specified between Principal Broker en Seller. and Belo Broker he parties' I? s gnatures to this contract. in the Agreement Betw ❑ (2) At the closing of this sale, Seller will pay, Principal Broker a total cash fee of: Cooperating Broker a total cash fee of: ❑ % of the sales price. ❑ % of the sales price. ❑ ❑ County, Texas. Seller .authorizes The cash fees will be paid in escrow agent to pay the brokers from the Seller's proceeds at closing. o secure an earned commission NOTICE: Chapter 62, Texas Property Code, authorizes a broker with a lien against the Property. the C. The parties may not amend this Paragraph 9 without the written consent of the brokers affected by amendment. 10. CLOSING: Aril 27 2009 s after A. The closing of the sale will be on or before or within 7 day objections made under Paragraph 6C have been cured or waived, whichever date is later (the closing date). art may exercise the remedies in art fails to close by the closing date, the non - defaulting party Y B. If either party Page 6 of 12 Paragraph 15. � and Seller�� -- Initialed for Identification by Buyer ` (TAR -1802) 10 -18 -05 Montgomery M'chi an 48026 www zipLo iq_x.com Produced with ZipForm® by 7iPL09ix 18070 Fifteen Mile Road, Fraser, 9 Concerning Corner of Loo 286 and H 82 West Commercial Contract Unimproved Property n s eeial warranty C. At closing, Seller will execute and deliver, at Sellers expense, a ® general P must deed. The deed must include a vendor's lien if any and show no sales price is financed. The other than t ose permitted convey good and indefeasible title to the Property under Paragraph 6 or other provisions oother securityctinteelests against vth t Propertyrtwhich will not be (1) with no liens, assessments, satisfied out of the sales price, unless securing loans Buyer assumes, (2) without any assumed loans in default; and (3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or trespassers except tenants under the written leases assigned to Buyer under this contract. D. At closing, Seller, at Seller's expense, will also deliver to Buyer: (1) tax statements showing no delinquent taxes on the Property; (2) an assignment of all leases to or on the Property; licenses and permits related to the (3) to the extent assignable, an assignment to Buyer of any Property; (4) evidence that the person executing this agent atins legally capable t a foreign 1personbor, if Seller is a (5) an affidavit acceptable to the escrow agen 9 foreign person, a written authorization forthe les area agent eli from the Ilnternal Revenue amount sufficient to comply applicable tax I ( Service (IRS) together with appropriate tax forms; and 6) any notices, statements, certificates, affidavits, the closingnof the sale and issuance required e o the title ( contract, the commitment, or law necessary for policy, all of which must be completed by Seller as necessary. E. At closing, Buyer will: (1) pay the sales price in good funds acceptable to the escrow agent; and 2) deliver evidence that the person executing this contract is legally capable authorized to bind ( Buyer; art of the Property a written statement that: (3) sign and send to each tenant in a lease for any p (a) acknowledges Buyer has received and is responsible for the tenant's security deposit; and (b) specifies the exact dollar amount of the security deposit; (4) sign an assumption of all leases then in effect; and O 5 execute and deliver any. notices, statements, certificates, or other documents required by this contract or law necessary to close the sale. F. Unless the parties agree otherwise, the closing documents Manual without any additional clausesin the current edition of the State Bar of Texas Real Estate Forms 11. POSSESSION: Seller will deliver possession of the Proprt to completep ondinary wear and tear oexciepted in its present condition with any repairs Seller is obligated An ossession by Buyer before closing or by Seller after closing relationship is not the authorized by a separate YP written lease agreement is alandlord- tenant at sufferance approved by Subway Corporation for the 12. SPECIAL PROVISIONS: (Identify exhibit if special provisions are contained in an attachment.) Contract is contingent on locate ,-instruction of a Subway franchised store. Contract is also contingent on buyer construction of a Subway ezoning is necessary. obtaining proper zoning for the Seller agrees to cooperate with buyer if r reement. Buyer will pay buyer's agent commission according to separate ag and Seller Page 7 of 12 (TAR -1802) 10 -18 -05 Initialed for Identification by Buyer , ix. m Montgomery - M Produced with ZipForrA by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www zi�oa �o Commercial Contract - Unimproved Property Concerning Corner of Loop 286 and H 82 West 13. SALES EXPENSES: Seller's E enses: Seller will pay for th xpe following at a before closing: A. Sel g penalties (1) releases of existing liens, other than those liens assumed by Buyer, including prepay ment and recording fees; (2) release of Seller's loan liability, if applicable; (3) tax statements or certificates; (4) preparation of the deed; (5) one -half of any escrow fee; 6 costs to record any documents to cure title objections under other provisions of of this contra {re; and O. (7) other expenses that Seller will pay B. Buyer's Expenses: Buyer will pay for the following at or before closing: (1) all loan expenses and fees; (2) preparation of any deed of trust; (3) recording fees for the deed and any deed of trust; Buyer's lender; (4) premiums for flood insurance as may be required by Y (5) one -half of any escrow fee; (6) other expenses that Buyer will pay under other provisions of this contract. 14. PRORATIONS: A. Pror_ a =s (1) Interest on any assumed loan, taxes, rents, and any expense reimbursements from tenants will be prorated through the closing date. 2 closes is if the amount of ad valorem taxes for the year in which sessedan the previousty.earl ( If the taxes for the date, taxes will be prorated on the basis of taxes as year in which the sale closes vary from the amountWho htth s le� closeshbcom parties avlailable. This prorations when the tax statements for the year in Paragraph 14A(2) survives closing. subject to an existing lien, Seller will transfer all (3) if Buyer assumes a loan or is taking the Pr ope aY payment of taxes, insurance premiums, and other reserve deposits held by the lender for the p y charges to Buyer at closing and Buyer will reimburse such amounts to Seller by an appropriate adjustment at closing. B Rollback Taxes: If Seller changes the use of the Property before closing or if a denial of a special essment of valuation on the Property claimed by Seller results in tssessments w'll bet eitobl ga taxes on of the Steller. If interest (assessments) for periods before closing, the a r Buyer's use of the Property after closing results inPaaddiitioan h 146 survives for periods before se this sale o Y closing, the assessments will be the obligation of Buy ol Buyer all security deposits and the following C. Rent and Security Deposits: At closing, Seller will tender after closing: prepaid expenses, advance rental advance payments received by tenants. Rents prorated to one party but received by payments, and other advance payments paid by art to whom it was prorated within 5 days after the other party will be remitted by the recipient to the party the rent is received. This Paragraph 14C survives closing. 15. DEFAULT: A. If Buyer fails to comply with this receive the earnest money las liquidated damages, thereby releasing the (1) terminate this contract and revel parties from this contract; or provided rovided by law, or both. (2) enforce specific performance, or seek other relief as may R -1802) 10 -18 -05 Initialed for Identification by Buyer. `� and Sellerp 2 /�,� Page 8 of 12 (rp, Montgomery - M Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 wv,,w 7112Loolx com Commercial Contract - Unimproved Property Concerning Corner of Loop 286 and Hwy 82 West survey, or B. If, without fault, Seller is unable within the time allowed to deliver the estoppel certificates, commitment, Buyer may: less an independent consideration under (1) terminate this contract and receive the earnest money, Y Paragraph 7B(1), as the sole remedy; or (2) extend the time for performance up to 15 days and the closing will be extended as necessary. C. Except as provided in Paragraph 15B, if Seller fails to comply with this contract, Seller is in default and Buyer may: (1) terminate this contract and receive ththereb money, releaing the parties from om this contract or under Paragraph 78(1), as liquidated damages, Y (2) enforce specific performance, or seek such other relief as may be provided by law, or both. nced against any part of the 16. CONDEMNATION: If before closing, condemnation proceedings are comme Property, Buyer may: A. terminate this contract by providing written notice to Seller ss any l independent consideration vpaid under condemnation proceedings and the earnest mon y, Paragraph 713(1), will be refunded to Buyer; or B. a pear and defend in the condemnation proceed P ing sam emountrowilt, at Buyer's election, belong to: (1) Seller and the sales price will be reduced by the (2) Buyer and the sales price will not be reduced. row 17 ATTORNEY'S FEES: If Buyer, Seller, any broker, or any this transactionssuch party prevailing is party to recover proceeding brought under or with relation to this rote c from the non - prevailing parties all costs of such proceeding and reasonable attorney's fees. This Paragraph 17 survives termination of..this contract. 18. ESCROW: A. At closing, the earnest money will be applied first to any cash down payment, then to Buyer's closing costs, and any excess will be refunded to Buyer. payment of B. if both parties make written demand for the and a escrow og liability ty of escrow ow ag agent from unpaid expenses incurred on behalf of the parties all parties. If one arty makes written demand for the earnest money, escrow agent will give notice of the demand C p of the demand. If escrow agent does not receive written objection a by providing to the other party copy to the demand from the other party within 15 days after the date escrow agent sent the demand tot the the other P arty, escrow agent may disburse the earnest money t° receiv'Ing the earnest money and descrow amount of unpaid expenses incurred on behalf of the part y agent may pay the same to the creditors. before disbursing any D. Escrow, agent will deduct any independent the independent tconsiderat consideration Seller.B(1) earnest money to Buyer and will pay hereby releases escrow agent from all E. If escrow agent c disbursal of the earnest money. party Y claims related to F. Notices under this Paragraph 18 must be sent by certified mail, return receipt requested. Notices to escrow agent are effective upon receipt by escrow agent 19. MATERIAL FACTS: To the best of Seller's knowledge and belief: (Check only one box.) attached Property ❑ A. Seller is not aware of any material defects to the Property except as stated in Condition Statement. Page 9 of 12 (TAR -1802) 10-18 -05 Initialed for Identification by Buyer , and Selle Produced with ZipFomn0 by zipLogix 16070 Fifteen Mile Road, Fraser, Michigan 48026 ww zipLoaix com Montgomery - �! Commercial Contract - Unimproved Property Concerning Corner of Loo 286 and x 82 West ❑ B. Except as otherwise provided in this contract, Seller is not P improvements; ri the Property; (1) any subsurface: structures, Pits, waste, springs, (2) any pending or threatened litigation, condemnation, or assessment affect) g p (3) any environmental hazards has conditions that for the stowage or disposal of hazardous materials or toxic (4) whether the Property is waste, a dumpsite or landfill, or any underground tanks or containers; foam (5) whether radon, asbestos containing materials, affects health of ordinary occuipants)aor other paint, toxic mold (to the extent that it adversely pollutants or contaminants of any nature now exist or ever existed on the Property, (6) any wetlands, as defined by federal species or their hab tat on the Property; Property; (7) any threatened or endangered (g) any present or past infestation of wood-destroying o the Property or surroundPng area that p would materially and (g) any contemplated material change detrimentally affect the ordinary use of the Property; (10) any condition on the Property that violates any law or ordinance. (Describe any exceptions to (1) -(10) in Paragraph 12 or an addendum.) 20. NOTICES: All notices between the parties under this re nuest requested sentnby facsimile le transmiss on to the hand - delivered, mailed by certified mail return receipt q parties addresses or facsimile numbers stated in notices are sent. 1. The parties will send copies of any notices to the broker representing the party to whom the ❑ A. Seller also consents to receive any notices by a -mail) at Bulyer's a maiil address stated in Par gr ph 1. ❑ B.,, Buyer also consents to receive any notices by e cannot be resolved, by negotiation, the parties will 21. DISPUTE RESOLUTION: The parties agree to negotiate in good faith in an effort to resolve any dispute related to this contract that may arise. If the dispute on an submit the dispute to mediation before resorting to arbitration afon iof th sdcontractaThis share paragraph does . will a mutually acceptable mediator. This paragraph survives termin itable relief from a court of competent jurisdiction. not preclude a party from seeking equ 22. AGREEMENT OF THE PARTIES: A. This contract is binding on the parties, their heirs, executors, representatives, successors, and permitted assigns. B. This contract is to be construed in accordance with the laws of the State of Texas. C. This contract contains the entire agreement of the parties and may not be changed except in writing. d all n on ma If this contract is executed in a number of identical counterparts, counterparts, collectively, constitute one agreement. ■ ■ ■ ■ ■ each counterpart 1s a g Addenda which are part of this contract are: (Check all that apply.) (1) Property Description Exhibit identified in Paragraph 2; (2) Commercial Contract Financing Addendum; (3) Commercial Property Condition Statement; (4) Notice to Purchaser of Real Property in a Water District (MUD); (5) Addendum for Coastal Area Property; (6) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway; and (7) (!Vote: Counsel for the Texas Association of REALTORS® (TAR) has de ro�!ate for use with this form) foregoing addenda which are promulgated by the Texas Real Estate Commission (TREC) or published by TAR are app o i ` l,.,_.��� AR -1802) 10 -18 -05 Initialed for Identification by Buyer hm, and Sellers'"�,� Page 10 of 12 Produced with ZipFormG by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 45026 www zip_ _ Montgomery - M Corner of Loo Commercial Contract - Unimproved Property Concerning 286 and H 82 West may ❑ may not assign this contract. If Buyer assumes,contract, wrting Buyer obligations and F. Buyer ® Y of any future liability under this contract only if the asstg liability of Buyer under this contract. 23. TIME: Time is of the essence in this contract. The i Pon' of this contracttfalls on i a Saturday, Sunday, f or performance. If the last day to perform under a prov holiday, the time for performance is extended until the end of the next day which is not a Saturday, legal Sunday, or legal holiday. 24. EFFECTIVE DATE: The effective date of this contra cll foart es purpose xecto this contract. rice of all obligations is the date the escrow agent receipts this contract after a p 25. ADDITIONAL NOTICES: ined by an attorney of Buyer's selection, or A. Buyer should have an abstract covering the Property exam f 'shed with or obtain a title policy. C A E F Buyer should be uml If the Property is situated in a utility or other statutoritW taertrCode, r glui esaSellereto deliver and or flood control facilities and services, Chapter 49, Texas Bu er to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fees of the Y district before final execution of this contract. that you are about to 13.257, Water Code: "The real property, described below, Notice Required by § is located in a sewer purchase may be located in a certificated water or he certificated area- If your property is l at law o P erties n t before you can provide water or sewer service to the prop certificated area there may be special costs be aaperi d requ required construct. .linesaor other facilities ties receive water or sewer service. There y our ro ert You are advised to determine the necessary to provide water or sewer service toy P P Y you is in a certificated area and contact the utility ui required t provider pro vde twater or seweh se cost totyour property and the period, if any, that q will be required to pay P The undersigned purchaser hereby acknowledges f te real receipt property described in tthe notice or a property. the execution of a binding contract for the purchas is described in Paragraph 2 of this contract. closing of purchase of the real property." The real property adjoins or shares a common boundary with the tidally influenced submerged lands of the ad If the Property j state, §33.135 of the. Texas Natural Resources Code requires a notice regarding coastal area property to be included as part of this contract. 61.025, Texas Natural Resources P ert is located seaward of the Gulf Intracoastal Waterway, Property to be included as part of this G a the ror, Y Code, requires a notice regarding the seaward location o e contract. the Property is located outside the limits of a municipality, may Property later be subject to annexation If the p Y of a municipality a in the extra - territorial jurisdiction (ETJ) that depicts its boundaries and ETJ. To by the municipality. Each municipality maintains a map determine if the Property is located within a municipality's f Buyer should contact all municipalities located in the general proximity of the Property for further In Brokers are not qualified to perform property inspections, surveys, engineering I emmetal regulations, orllaws. assessments, or inspections to determine nsuch services WSelectio zoning, inspectors and repairmen is the Buyer should seek experts to perform responsibility of Buyer and not the brokers. n offer to OFFER: The execution of this contract by the first' party he time z'onte n which the Property is 26. CONTRACT AS accepts the offer by 5:00 p.m., the Property. Unless the other party the offer will lapse and become null and void. located, on March 2 2009 �"1('� �" 1— and Seller Page 11 of 12 (TAR -1802) 10 -18 -05 Initialed for Identification by Buye -- Montgomery M Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www ziDLoctix com - Commercial Contract- Unimproved Property Concerning r, nrn nd agents make no representation or READ THIS CONTRACT CAREFULLY. The brokers recommendation as to the legal sufficiency, legal transaction. CONSULT your attorney BEFORE signing. Seller: Mar Mont omen By: Printed Name. Q or tax consequences of this document or Buyer. Jeffre Marti By: Printed Name: Title Buyer: Lar Mar By: Printed Name: Title: Title: _--- Seller: By: _--- Printed Name: Title: T BETWEEN BROKERS - AGREEMG_-". (Cooperating Broker) .a I Principal Broker agrees to pay or % of the sales price when the Principal Broker's fee is fee of $ Cooperating Broker from Principal Broker's fee at received. Escrow agent is authorized and directed to paY Y Por offers and agreements for compensation closing. This Agreement Between Brokers supersedes an p between brokers. Cooperating Broker By: Principal Broker By: ATTORNEYS Seller's aorne �is: o f Buyer's attorney is: Name: Name: h rles Waldrum Address Address: Phone & Fax: (903)784-4354 E -mail: Buyer's attorney requests copies of documents, notices, and other information: 91 the title company sends to Buyer. _ -j— a,. 0 Ivor Phone & Fax. E -mail: Seller's attorney requests copies of documents, notices, and other information: l the title company sends to Seller. ❑ Buyer sends to Seller. U 5euer L., ­ _.. ESCROW RECEIPT Es ow agent acknowledges rece j of -7 (effective datef); � ao y �. the contract on this day $-- 0 in the form of Cif earnest money�� on ° �-4 Address: 33 I'll 1s' st. Escrow Agent: stone Title com an Paris TX 75460 -le W Phone & Fax: BY; E -mail: DnnP 12 of 12 y Lna'X � °m Montgomery (TAR-1802) 10 -18 -05 produced with ZipFom� by zipLogix 16070 Fifteen Mile Road, Fraser, Michigan 48026 www zio l�I TEXAS Assoca F AN COMMERCIAL CONTRA CT NN FINANCING ADDENDUM USE OF THIS FORM BY PERSONS WHO ARE NOT EMBERS OF REALT TEXAS ASSc COGS ON OF REALTORS® IS NOT AUTHORIZED. ADDENDUM TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED PARTIES CONCERNING THE PROPERTY AT Corner of oop 286 and Hwy 82 West The portion of the Sales Price not payable in cash will be paid as follows: (Check all that apply.) [x] A. THIRD PARTY FINANCING: in the 1 The contract is contingent upon Buyer obtain ing third party loan(syea s with btherinit initial Property rate () amount of $ for not less than m - per annum. p after the effective (2) Buyer will apply for the third party loan(s) described in Paragraph n no promptly t y date. If Buyer cannot obtain the loan(s), Buyer may give Seller written notice within days after the effective date and the contract will terminate n I the e refunded rto Buyer. If Buyerdoesdnot consideration under Paragraph 76(1) of the contract, give such notice within the time required, this contract will no longer be subject to the contingency described in this Paragraph A. 3 Each note to be executed under this addendum is to be secured by vendor's and deed of trust liens. [� B. ASSUMPTION: 1 Bu er will assume the unpaid principal balance of the existing promissory note secured by the ( Property payable to which balance at closing will be $ dated 2 Buyers initial payment will be the first payment due deed after of tru9t Buyer's eur ngassumption note ofreco recorded existing n () Y note includes all obligations imposed by the (recording reference) in the real property records of the county where the Property is located. varies from the loan (3) If the unpaid principal balance of the assumed able at closing will be adjusted by the net amount of balance stated in Paragraph B(1), the cash pay loan I varies in an amount an variance; provided, if the total principal balan ert omay terminate t this contract and the earnest greater than $ y at closing, either pa y money will be refunded to Buyer unless either party elects to eliminate the excess in the variance y an appropriate adjustment at closing. Buyer may terminate the contract and the earnest moue if the note holder on assumption trequires: (4) Y and Seller declines to pay Paragraph 7B(1) of the contract, will be refunded to y (a) Buyer to pay an assumption fee in excess of $ such excess; %; or (b) an increase in the interest rate to more than _--- (c) any other modification of the loan documents. note, Seller requires a vendor's lien and deed o (5) Unless Seller is released of liability on any assumed n ssumption, which will be automatically released on execution and delivery of trust to secure a release by the note holder. Page 1 of 3 (TAR -1931) 10 -18 -05 Montgomery - M Coldwell Banker 3749 Lamar Av PariS, TX 7826 9172 Chad Brown Phone: (903) 782 - 9800 Fraser, Michigan 48026 www zip_ �o_�1ix.c °m Produced with ZipForm® by ziPLo9ix 16070 Fifteen Mile Road, Corner of Loo 286 and H 82 West Commercial Contract Financing Addendum concerning um tion approva (6) If assumption approval is required by the note holder, Buyer will .apply for ass p within _--- days after the effective date of the contract and will v ev ery may gi effort le obtain assumption approval. If Buyer cannot obtain assumption approval, days after the effective date and the contract owi�eermin ate and the written notice within y earnest money, less any independent co eSsuch snot ce within he time Brequired and Buyer doeE refunded to Buyer. If Buyer does not g not close because Buyer is not able to assume the existing note, Buyer will be in default. ❑ C. SELLER FINANCING: closing, Buyer will execute and deliver a promissory note (the note) from Buyer to Seller in tn: (1) At g bearing % interest per annum. Matured amount of $ unpaid amounts will bear interest at the maximum rate of interest allowed by -law. (2) The note will be payable as follows: ❑ (a) In one payment, due of the note, with Interest payable ❑ (b) In installments of $ beginning and continuing at ❑ monthly Cl after the datE ❑ (i) monthly ❑ (ii) ❑ including interest ❑ plus interes after the date of the notE intervals thereafter fo when the entire balance of the note will be due and payable. installments for the first ❑ (c) Interest only in ❑ monthly ❑ ❑ including interest ❑ plus interes' years and thereafter in installments of $ after the date of the note and continuing a beginning intervals thereafter for ❑ monthly L7 able. when the entire balance of the note will be due and pens and an assignment of leases payable (3) The note will be vendor's and deed of trust the placed designated by Sell er. e will provide that if Buyer fails to timely pay an installment within 10 days after to (4) The not P a late fee equal to 5 /o of the installment not paid. installment is due, Buyer will pay against the maker in th (,) The note ❑ will ❑ will not provide for liability (personal or corporate) event of default. penalty. prepayments are to b art at 6 The note may be prepaid in whole or in P of principal a�stomaur rig an n interest will immediate () applied to the payment of the installments cease on the prepaid principal. su erior note describe 7 The lien securing payment of the note will be inferior to any lien securing ed, uye, at Buyer's expense, w () in this addendum. If an owner's policy of title insurance o furnished, furnish Seller with a mortgagee title policy in the amount of the note at closing. Seller, r an art of the Property is sold or conveyed without Seller's prior writteUS accrued interes (8) If all o Y P declare the outstanding principal balance of the note, p Seller's option, may able. Any of the following is not a sale or conveyance of the Property: immediately due and pay (a) the creation of a subordinate lien; (b) a sale under a subordinate lien; (c) a deed under threat or order of condemnation; nation; (d) a conveyance solely between the parties; operation of law. (e) the passage of title by reason of death of a maker or (TAR -1931) 10 -18 -05 by zipLog rr>® ix 18070 Fifteen Mile Road, Fraser, Michigan 48026 w�vw zip Loa_!x C0m Produced with ZipFor Page 2 of: Montgomery - Corner of Loo 286 and H 82 West Commercial Contract Financing Addendum concerning +ailments Buyer (9) De osits for Taxes and Insuranceileroaetrorratiahpart principal and valorem taxes ❑ will ❑ will not deposit with S P on the Property and a pro rata part of the estimated annual insurance premiums for t e improvements on the Property. (a) If Buyer deposits taxes and insurance and may belinsufficientBtoypay total taxes and insurance insurance deposits are only estimates and y premiums. Buyer agrees to pay any defici nccyis a dlefau0ltuanderr the deeld of trusts Buyer of any deficiency. Buyer's failure to pay the deficiency (b) If any superior lien holder on the Property insurance ollecosi sits tSellertunderathis insurance, addendum is requirement to deposit taxes ents are being made to the superior lien holder. inoperative so long as pay lien constitutes a default under the deed of (10)Any event that constitutes a default under any superior trust securing the note. (11) The note will include a provision for reasonable attorney's fees for any col .lectiIon cti n. found in the (12) Unless the parties agree Bay o'Texas Rearl E tate Forms Manual withourt any additional clauses. of the note and loan current edition of the State ❑ D. CREDIT APPKwHU roval or seller financing, Buyer will deliver (1) To establish Buyer's creditworthiness for assumption app days after the effective to Seller the following information (Buyer's documentation) within ______— date of the contract: F1 (a) verification of employment, including salary; ❑ (b) verification of funds on deposit in financial institutions; ❑ (c) current financial statement; ❑ (d) credit report; ❑ (e) tax returns for the following years ❑ M Bu er does -not timely deliver Buyer's documentation or Seeller determines, in terminate the contract le by (2) If Y discretion, that Buyer's creditworthiness is not acceptable, ays after the date Buyer must deliver Buyers giving written no. tice to Buyer not later than ____ -- documentation under Paragraph D(1) and the earnest money, Tess any independent consideratior under Paragraph 713(1) of the contract, will be refunded to BaveeaccepteldrBuye►'s credit timely terming E the contract under this paragraph, Seller will be eem ❑ E. SPECIAL PROVISIONS: W, - Date Buyer reY Martin Buyer L Martin Seller Ma Montgome DatE Seiler (TAR -1931) 10 -18 -05 Fraser, Michigan 46026 Yl zio_ L__ mix com Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, DatE Page 3 of Montgomery - M TI Ti :n � o u n L, / noP CD o a Ll\ y � N. wo °oz'E 1 so-oz, w/ co ': o' GN 1 of � N O O O C� w V N n . -- fD - N c- IV\ n h N kJ n oo 50 s = o _ a-p � r<D J . a¢ -10 s n '� ¢ M rn r Ln t0 n 05 -� ° Q ° `< M O CAD .. C) -C°: �'-r -• Ci . -.. Ull - woo CO (D G n S -o N r r �. a .a " S 2 w n (D (n n ". lD CD G1 J. 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Ct -h U') o o n a rT o r, w h 0 in n G -) ro n an 0 S r ' CD CD aw a c ¢ O (D --S Ln to t 7T�.J. h n TO: Chairman and Members of the Planning and Zoning Commission Honorable Mayor and Members of the City Council FROM: Community Development Department SUBJECT: Zoning Change Requests DATE: March 26, 2009 The following zoning change request will be presented at the April 6, 2009, meeting of the Planning and Zoning Commission and the April 27, 2009, meeting of the City Council of the City of Paris for consideration: 1. Jeff Martin is requesting that the property located on Lots PT of 9 and 9A, City Block 331, being located in the 3700 Block of Bonham, be rezoned from a Planned Development District (PDa -f) Retail Plan Shopping Center or Office Center to a this property be zoned General District (GR). The Comprehensive General Retail District (GR). cc: Kevin Carruth, City Manager W. Kent Mellyar, City Attorney