09&10 Sterling Zoning RequestDRAFT
F:XAttorneyXALICE\ORDWORK\CURRENT\5-8-03 Zoning Ords.wpd
May 5, 2003
ORDINANCE NO.
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS,
PARIS, TEXAS, AMENDING ORDINANCE NO. 1710, THE ZONING
ORDINANCE OF THE CITY OF PARIS, PARIS, TEXAS, AND CHANGING
THE BOUNDARIES ESTABLISHED BY THE ZONING MAP OF SAID
CITY; ESTABLISHING A COMMERCIAL DISTRICT (C) WITH SPECIFIC
USE PERMIT (52) SIGNS AND BILLBOARDS ON LOT 7, CITY BLOCK
307-B, REQUESTED BY CARLES STERLING, PROSPECTIVE OWNER,
SO AS TO INCLUDE THEREIN TERRITORY FORMERLY DESIGNATED
AS AN AGRICULTURAL DISTRICT (A); DESIGNATING THE
BOUNDARIES OF THE COMMERCIAL DISTRICT (C) WITH SPECIFIC
USE PERMIT (52) SIGNS AND BILLBOARDS SO ESTABLISHED;
PROVIDING FOR A PENALTY NOT TO EXCEED $2,000.00; REPEALING
ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT
HEREWITH; AND DECLARING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Paris, Paris, Texas, has previously received
a request for an amendment to the zoning ordinance of the City of Paris; and,
WHEREAS, the City Council has subsequently referred said request for amendment to
the Planning and Zoning Commission for its review and recommendation in accordance with
the City zoning ordinance and State law; and,
WHEREAS, the Planning and Zoning Commission did conduct a public hearing on said
proposed amendment to the City zoning ordinance and, following said hearing, made formal
recommendation to the City Council regarding said proposed change; and,
WHEREAS, the City Council of the City of Paris did subsequently conduct a public
hearing on the aforesaid 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 and to the benefit 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, 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 boundaries heretofore established by the Zoning Map and Ordinance
No. 1710 of the City of Paris, Paris, Texas, be, and the same are hereby, changed, and that a
COMMERCIAL DISTRICT (C) WITH SPECIFIC USE PERMIT (52) SIGNS AND
BILLBOARDS be, and the same is hereby, established on LOT 7, CITY BLOCK 307-B, on
property to belong to CARLES STERLING, so as to include in such COMMERCIAL
DISTRICT (C) WITH SPECIFIC USE PERMIT (52) SIGNS AND BILLBOARDS the
hereinafter described property, which was formerly and is presently designated as an
AGRICULTURAL DISTRICT (A), and that the boundaries of said COMMERCIAL DISTRICT
(C) WITH SPECIFIC USE PERMIT (52) SIGNS AND BILLBOARDS be, and the same are
hereby, established as follows:
SITUATED within the corporate limits of the City of Paris, County of
Lamar, and State of Texas, being a part of the Reddin Russell Survey #786 and
Thomas Askins Survey #6, and being a 70.32 acre tract of land conveyed George
Parr by deed recorded in Volume 352, Page 238 of the Deed Records of said
County and State, and being more particularly described as follows:
BEGINNING at a stake for corner in the East Boundary Line of the S.L.
and S.F. Railroad at the Southwest corner of said Parr tract of land;
THENCE North 89 Deg. East a distance of 229 ft. to a stake for corner at
the present Southeast corner of said tract of land;
THENCE along the West Boundary Line ofU. S. Highway 271 as follows:
North 8 Deg. East a distance of 33 ft.; North 6 Deg. 30 Min. East a distance of
130.5 ft.; North 14 Deg. 30 Min. East a distance of 542 ft.; North 16 Deg. East
a distance of 532 ft.; Northeasterly around a curve to the right a distance of 357
ft.; North 20 Deg. East a distance of 1877 ft.; North 15 Deg. 30 Min. East a
distance of 126 ft.; Northeasterly around a curve to the left a distance of 1425 ft.;
North 20 Deg. 30 Min. West a distance of 128 ft.; North 5 Deg. East a distance
of 16 ft. to a stake for corner in the South Boundary Line of a County Road, said
point being the present Northeast corner of said Parr tract of land;
THENCE North 89 Deg. 25 Min. West a distance of1147 ft. to a stake for
corner at the Northwest corner of said Parr tract of land;
THENCE South 5 Deg. West along the East Boundary Line of said S.L.
and S.F. Railroad a distance of 4981 ft. to the place of beginning and containing
85.63 acres of land, and being number 3995 N. Main Street.
Section 3. That the Chief Building Official of the City of Paris be, and he is hereby,
directed to change the Zoning Map of the City of Paris in accordance with the provisions of
Ordinance No. 1710 and the land use map accompanying the same, and in accordance with the
provisions of this ordinance.
Section 4. That any person violating any of the provisions of this ordinance shall be
guilty of a Misdemeanor, and, upon conviction, shall be fined in any sum not to exceed
$2,000.00, and each and every day's continuance of any violation of the above-enumerated
sections shall constitute and be deemed a separate offense.
Section 5. That all ordinances or parts of ordinances in conflict herewith are hereby
expressly repealed.
Section 6. That this ordinance shall become effective June 1, 2003.
PASSED AND ADOPTED by the City Council of the City of Paris, in regular session
on this the 8th day of May, 2003.
ATTEST:
, Mayor
Mattie Cunningham, City Clerk
APPROVED AS TO FORM:
Larry W. Schenk, City Attorney
AFFIDAVIT REQUEST FOR AMENDMENT TO ZONING ORDINANCE NO. 1710
STATE OF TEXAS §
COUNTY OF LAMAR §
BEFORE ME, the undersigned authority, on this day personally appeared
Carles Sterlinq , who upon oath deposes and says:
"1 am Caries Sterlinq and my address is P.O. Box 1311, Paris, TX
75461 and my phone number is 903-784-3756 and I have a proprietary interest in
property located within the corporate limits of the City of Paris being described as follows:
Lot 7, City Block 307-B
3995 N. Main
"My interest in the above described property is Contract to Buy
and I do request a change in zoning from Aqricultural (A) District
to Commercial {C,) With Specific Use Permit (521 Siqns and Billboards District.
"In support of said request I make the following answers to questions 1-4:
1. Will the re-zoning be in accordance with the original comprehensive zoning scheme, as
represented by the pre-established zoning ordinance and the long range master plan and map that
has been adopted by the zoning ordinance?
YES
2. Will the re-zoned designation be compatible with the classification and use of adjoining
lands so as to avoid adverse impact on neighbors?
YES
3. Is the tract unsuitable for uses permitted under the present zoning classification:
therefore justifying a change in zoning?
YES
4. Does the re-zoning bear a substantial relationship to the public health, safety, morals or
general welfare or protect and preserve historical and cultural places and areas or meet a
substantial public need? YES
5. HAS A COPY OF THE LAND DEED BEEN SUBMITTED. YES :
! SignatUre o£ Applic~ant /
SWORN TO AND SUBSCRIBED BEFORJ~ ME, by the said Carles Sterling
this 10th day of March ,2003 .
~/tary P~lic, State of Texas
Ma~icCunningllam, Ci?Clerk ~ ]~ STATEOFTE~s ~
l~ an~ be~~ a ~.52 ~re tract o_
R~l~ at the Bouth%'est co:~ez- of s~d
~h~O$ No.th 89 D~. East ~ di~o~
of ~. stye for corner at the pre-
s~t So%xth~as~ corn~ of s~id tract of l~d;
Thence ~onE ~he West Bou~d~y Line
East
M~. E~t a dist~ce of ~0.~ r~., No~h
',~ Deg. 50 Min, E~s~ m dist~c~ of ~2 ft.
North ~6 Deg. ~s~ a dist~cm of
No~hea~lY ~oz~d a c~ve to the ~i~
dist~c~ of ~57 ~t, $ North 20 DeE. ~t a
East a ~%st~-C~ o~ 926 ~.; Norbheasterly
o~o~d a c~e to the !e~ a distance of
1~23 ft.; No~h 20 9ag. ~0 M~. West a dis-
t~ce of 428 ft.; No~$h 5 Deg. East a dis-
t~ce of ~6 fi, to a stye for co.:er
the South Bo~d~ Line of a Coun%y Road,
said po~ being the p~sent Ho~heas% cor-
ne~ of e~d P~r tract of
Thence Eo~h 89 Deg. 25 H~. WeBS
dist~ce of ~4~7 ft. to a st~ke for corner
at the ~orthwest co~er o~ said P~
Thence South 5 Deg. We{t_~on~ the
East Bo~d~ Line of said S.L. ~e
Railroad ~ dist~ce of ~981 ft. to the place
of begi~ug ~d conta~ins 85.6~ acres of
11-8-99
PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC)
UNIMPROVED PROPERTY CONTRACT
NOTICE: Not For Use For Condominium Transactions
PARTIES: James Martinez, CARLES STERLING (Seller)
agrees to sell and convey to Carol Martin (Buyer) and Buyer agree~
to buy from Seller the property described below.
2. PROPERTY: Lot Block , Part of T. Askins Syn. Tract73 Addition,
-- ' Lamar County, Texas, known as
City of Paris ,
Rt.1 Hwy 271 lq. 75462 (Address/ZipCode),
or as described on attached exhibit, (the Property). The Property [~is [] is not subject to mandatory
membershp in an ow?ers' associa,~tion. The TREC Addendum For Property Subject To Mandatory
Membership In An Owners Association u is [] is not attached.
NOTICE TO BUYER: If the Property is subject to mandatory membership in an owners' association, Seller
notifies Buyer under §5.012, Texas Property Code, that, as a purchaser of property in the residential
community in which the Property is located, you are obligated to be a member of an owners' association.
Restdctive covenants governing the use and occupancy of the Property and a dedicatory instrument
governing the establishment, maintenance, and operation of this residential community have been or will be
recorded in the Real Property Records of the county in which the Property is located. Copies of the restrictive
covenants and dedicatory instrument may be obtained from the county clerk. You are obligated to pay
assessments to the owners' association. The amount of the assessments is subject to change. Your failure
to pay the assessments could result in a lien on and the foreclosure of the Property.
3. SALES PRICE:
A. Cash portion of Sales Price payable by Buyer at dosing .................. $ 2,000.00
B. Sum of all financing described below ............................ $ 18,000.00
C. Sales Price (Sum of A and B) ................................ $ 20,000.0t
4. FINANCING: Within 5 days after the effective date of this contract Buyer shall apply for all third party
financing or noteholder's approval of any assumption and make every reasonable effort to obtain financing
or assumption approval. Financing or assumption approval will be deemed to have been obtained when the
lender determines that Buyer has satisfied all of lender's financial requirements (those items relating to
Buyer's net worth, income and creditworthiness). If financing or assumption approval is not obtained within
30 days after the effective date hereof, this contract will terminate and the earnest money will be
refunded to Buyer. Each note to be executed hereunder must be secured by vendor's and deed of trust liens
The portion of Sales Price not payable in cash will be paid as follows: (Check applicable boxes below)
[] A. THIRD PARTY FINANCING:
[] (1)This contract is subject to approval for Buyer of a third party loan in an amount not to
exceed % of the Sales Price, evidenced by a third party first lien promissory note of
not less than $ 18,000. O0 , due in full in 15 year(s), with interest not to exceed
8.000 % per annum for the first 15 year(s) of the loan.
[] (2)This contract is subject to approval for Buyer of a third party loan in an amount not to
exceed % of the Sales Price, evidenced by a third party second lien promissory note
of not less than $ , due in full in year(s), with interest not to exceed
% per annum for the first year(s) ,o~f the loan.
[] B SELLER FINANCING: A promissory note from Buyer to Seller CT :~ _ , bearing %
interest per annum, secured by vendor's and deed of trust liens, in accordance with the terms~and
conditions set forth in the attached TREC Seller Financing Addendum. if an owner policy of title
insurance is furnished, Buyer shall furnish Seller with a mortgagee policy of title insurance.
[] C. ASSUMPTION:
[] (1)Buyer shal! assume the u:~paid principal balance of a first lien promissory note payable to
which unpa~o oalan,~u
"-, '-; ,.--~ monthly payment including princip- .
interest and any reserve deposits is $ . Buyer's initial payment will be
first payment due afie:
Initialed for identification by B _ , . and Seller 0lA TREC NO. 9-4
Page 1 of 7
(TAR-1607) 11-8-99
Rt.1 Hwy 271 N.
Unimproved Property Contract Concerning Paris , TX 75462 PageTwo 11-8-99
(Address of Property)
[] (2) Buyer shall assume the unpaid principal balance of a second lien promissory note
which
payable to
unpaid balance at closing will be $ . The total current monthly payment
including principal, interest and any reserve deposits is $ . Buyer's initial
payment w be the first payment due after closing.
Buyer's assumption of an existing note nc udes all obligations imposed by the deed of trust securing
the note.
If the unpaid principal balance(s) of any assumed loan(s) as of the Closing Date varies from the loan
balance(s) stated above, the [] cash p~yable at closing [] Sales Price will be adjusted by the amount
of any variance; provided, if the total principal balance of all assumed loans varies in an amount great:'r
than $350.00 at closing, either party may terminate this contract and the earnest money will L;
refunded to Buyer unless the other party elects to eliminate the excess in the variance by an
appropriate adjustment at closing. If the noteholder requires (a) payment of an assumption fee in
excess of $ in C(1) above or $ in C(2) above and Seller
declines to pay such excess, or (b) an increase in the interest rate to more than % in C(1)
% in C(2) above, or (c) any other modification of the loan documents, Buyer may
above, or
terminate this contract and the earnest money will be refunded to Buyer. A vendoCs lien and deed of
trust to secure assumption will be required which shall automatically be released on execution and
delivery of a release by noteholder. If Seller is released from liability on any assumed note, the vendor's
lien and deed of trust to secure assumption will not be required.
NOTICE TO BUYER: The monthly payments, interest rates or other terms of some 1cans may be
adjusted by the lender at or after closing. If you are concerned about the possibility of future
adjustments, do not sign the contract without examining the notes and deeds of trust.
NOTICE TO SELLER: Your liability to pay the note assumed by Buyer will continue unless you obtain
a release of liability from the lender. If you are concerned about future liability, you should use the TREC
Release of Liability Addendum.
[] D. CREDIT APPROVAL ON ASSUMPTION OR SELLER FINANCING: W~thin days after
the effective date of this contract, Buyer shall deliver to Seller [] credit report ~rification of
employment, including salary [] verification of funds on deposit in financial institutions [] current
financial statement to establish Buyer's creditworthiness or assumption approval or seller financing
and []
If Buyer's documentation is not delivered within the specified time, Seller may terminate this contr;.;t
by notice to Buyer within 7 days after expiration of the time for delivery, and the earnest money will be
paid to Seller. If this contract is not so terminated, Seller will be deemed to have accepted Buyer's
credit. If the documentation is timely delivered, and Seller determines in Seller's sole discretion that
Buyer's credit is unacceptable, Seller may terminate this contract by notice to Buyer within 7 days afiCr
expiration of the time for delivery and the earnest money will be refunded to Buyer. If Seller does n'4
so terminate this contract, Seller will be deemed to have accepted Buyer's credit. Buyer here~y
authorizes any credit reporting agency to furnish to Seller at Buyer's sole expense copies of Buyers
credit reports,
5. EARNEST MONEY: Buyer shall deposit $ 500.00 as earnest money with Young T±tle
-' at Loop 286 Paris Tx
(Address), as escrow agent, upon execution of this contract by both parties, Additional earnest money
of $ must be deposited by Buyer with escrow agent on or before
if Buyer fails to deposit the earnest money as required by this contract, Buyer will be in default
6, TITLE POLICY AND SURVEY:
~]A. TITLE POLICY: Seller shall furnish to Buyer at [] Seller's [] Buyer's expense an owner policy of' title
insurance (the Title Policy) issued by Younq Title
(the Title Company) in the amount of the Sales Price, dated at or after closing, insuring Buyer against loss
under the provisions of the Title Policy, subject to the promulgated exclusions (including existing
.... ~ ~,.din=nces~ 'md th: fo cv,'irc exceptions:
C, uild;,-,.g and ~-,,.,.~ ...... , ~ v .T= '
(1) Restr ct ye covenants common to the pta,t~o subdivision in which the Property is located
(2) The standard primed exception k,: =;andby fees, taxes and assessmenls.
Initialed for identification by Buy '~ i-/ and Seller_ 0lA TREC NO. 9-4
Page 2 7
(TAR-1607) 11-8 99
Rt.1 }{wy 271 N.
Unimproved Property Contract Concerning Paris , TX 75462 Page Three 11-8-99
-- (Address of Property) .
(3) Liens created as part of the financing described in Paragraph 4.
(4) Utility easements created by the dedication deed or plat of the subdivision in which the Property
is located.
(5) Reservations or exceptions otherwise permitted by this contract or as may be approved by Buyer
in writing.
(6) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines,
encroachments or protrusions, or overlapping improvements.
(7) The standard printed exception as tc~madtal dghts.
(8) The standard printed exception as to waters, tidelands, beaches, streams, and related matters.
Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Buyer
a commitment for title insurance (the Commitment) and, at Buyer's expense, legible copies of
restrictive covenants and documents evidencing exceptions in the Commitment other than the standard
printed exceptions. Seller authorizes the Title Company to mail or hand deliver the Commitment and
related documents to Buyer at Buyer's address shown below. If the Commitment is not delivered to Buyer
within the specified time, the time for delivery will be automatically extended up to 15 days.
[]B. SURVEY: (Check one box only)
[] (1) within days after the effective date of this contract, Buyer shall obtain a survey at
Buyer's expense.
[] (2) Within days after the effective date of this contract, Seller shall cause a survey to
delivered to Buyer at Seller's expense.
[] (3) Within _ days after the effective date of this contract, Seller will deliver to Buyer the
, which
exist ng survey plat of the Property dated ,
[] will [] will not be recert fled to a date subsequent to the effective date of this contract at
the expense of [] Buyer [] Seller.
The survey must be made by a Registered Professional Land Surveyor acceptable to the Tide
Company and any lender.
Buyer may object to existing building and zoning ordinances, items 6A(1) through (8) above and matters
shown on the survey if Buyer determines that any such ordinance, items or matters prohibits the followin
use or activity:
Buyer will have 7 days after the receipt of the latter of the Commitment or survey to object in writing to
matters disclosed in the Commitment or survey. Buyer's failure to object under Paragraph 6 within the time
allowed will constitute a waiver of Buyer's right to object; except that the requirements in Schedule C of the
Commitment will not be deemed to have been waived. Seller shall cure the timely objections of Buyer or any
third party lender within 20 days after Seller receives the objections and the Closing Date will be extended
as necessary. If objections are not cured by the extended Closing Date, this contract will terminate and the
earnest money will be refunded to Buyer unless Buyer elects to waive the obiections.
NOTICE TO SELLER AND BUYER:
(1) Broker advises Buyer to have an abstract of title covering the Property examined by an attorney of
Buyer's selection, or Buyer should be furnished with or obtain a Title Policy. If a Title Policy is furnished
the Commitment should be promptly reviewed by an attorney of Buyer's choice due to the time
limitations on Buyer's right to object.
(2) If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage,
or flood control facilities and services, Chapter 49 of the Texas Water Code requires Seller to deliver and
Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the
district prior to final execution of this contract.
(3) If the Property abuts the tidally influenced waters of the state, Section 33.135, Texas Natural Resources
Code, requires a notice regarding coastal area property to be included in the contract. An addeddum
either promulgated by TREC or required by the parties should be used.
(4) Buyer is advised that the presence of wetlands, toxic substances, including asbestos and wastes or
other environmental hazards or the presence of a threatened or endangered species or its habitat may
<_ ~ , ..,~..,4.~,4 ,,ce nf t!:~ Pror~:Iy. If Buyer is concerned about these m3tters.
ah~_c~ owe.[.s h~vl'~',~'~.,,Y~h,, ~I~F¢~ nr reeL;ired'by the carries should be used
addendum e~tner promulgate,-, ~., ....... - - -~'
for identification by Buyer (i'~, /~'% and Seller 0lA TREC NO. 9-4
Initialed ~ -
Page 3 of 7
(TAR-1607) 11-8-99
Rt.1 Hwy 271 N.
Unimproved Property Contract Concerning Paris , TX 75462 Page Four 11-8-99
(Address of Property)
If the Pro arty is located outs de the lim ts of a municipality, Seller notifies Buyer under §5.011, Tex~>
(5) P- ................ or later be included in the extraterritorial jurisdiction of a
Property Coae, mat the P'roper[y may nuw
mun c ality and may now or later be subject to annexation by the municipality. Each municipality
ma ntaiP~s a map that dap cts its boundaries and .e~ra.!erritor~al ,j,urisd!ct!on., To
s located with n a mun cipality's extraterdtoria junsaic~on or is likely tO De ioca[eu w~u,~ ~
extraterritorial jurisdiction, contact all municipalities located in the general proximity of the Property for
further information.
(6) Unless expressly prohibited in writirLg by the parties, Seller may continue to show the Property for sale
and to receive, negotiate and accept back-up offers.
7. PROPERTY CONDITION:
A. INSPECTIONS, ACCESS AND UTILITIES: Buyer may have the Property inspected by an inspector
selected by Buyer, licensed by TREC or otherwise permitted by law to make such inspections. Seller shall
permit access to the Property at reasonable times for inspection, repairs and treatment and for
reinspection after repairs and treatment have been completed. Seller shall pay for turning on utilities for
inspection and reinspection.
B. ACCEPTANCE OF PROPERTY CONDITIQN: NOTICE: Buyer should determine the availability of utilities
to the Property suitable to satisf7 Buyeds needs. (check one box only):
[] (1) In addition to any earnest money deposited with escrow agent, Buyer has paid Seller
$ (the "Option Fee") for the unrestricted right to terminate this contract by giving
notice of termination to Seller within days after the effective date of this contract. If Buyer
gives notice of termination within the time specified, the Option Fee will not be refunded, however
any earnest money will be refunded to Buyer. If Buyer does not give notice of termination within
time specified, Buyer will be deemed to have accepted the Property in its current condition and
and the Option Fee [] w Il [] will not be credited to the Sales Price at closing.
[] (2) Buyer accepts the Property in its present condition.
8, BROKERS' FEES: AIl obligations of the parties for payment of broker's fees are contained in separate
written agreements.
9. CLOSlNG: The closing of the sale will be on or before February 14 , 2003
within 7 days after objections to matters disclosed in the Commitment or by the survey have ~ ~red
whichever date is later {the Closing Date). If financing or assumption approval has been obtained
to Paragraph 4, the Closing Date will be extended up to 15 days if necessary to comply with lender's closing
requirements. If either party fails to close this sale by the Closing Date, the non-defaulting party will be entitled
to exercise the remedies contained in Paragraph 15. At closing Seller shall furnish tax statements or
certificates showing no delinquent taxes and a general warranty deed conveying good and indefeasible title
showing no additional exceptions to those permitted in Paragraph 6.
10. POSSESSION: Seller shall deliver possession of the Property to Buyer at closing and funding.
11. SPECIAL PROVISIONS: (Insert only factual statements and business details applicable to this sale. TREC
rules prohibit licensees from adding factual statements or business details for which a contract addendum
lease or other form has been promulgated by TREC for mandatory use.)
CONTRACT IS CONTINGENT UPON BUYER BEING ABLE TO OBTAIN A STATE PERMIT FOR A
BILLBOARD~ ~ C ; +'/ ~D--EF);'t'~' ' ~ .~ ,.~["
LAPLA~ OUTDOOR ADVERTISING BILLBOARDS CUP~RENTLY ON PROPERTY WILL BE REMOVED
PRIOR TO CLOSING.
OWNER WILL NOT ALLOW LAMA~ OUTDOOR ADVERTISING TO PLACE ANOTHER BILLBOARD ON
~.[fy OF THE RE~-A~-N!NG ~0 ACRES SHE
BUYER AND SELLER AGKEE TO SPLIT THE COST OF THE SURVEY.
PLEASE REFER TO EXHIBIT A SURVEY FOR LOCATION OF AC~E BEING pUP, CHASED.
Initialed for identification by Buyer ~ and Seller_ 0'IA TREC NO. 9-4
Page 4 of 7
(TAR-1607) 11-8-99 i~;.,~ z~ ×
Rt.1 Hwy 271 N.
Unimproved Property Contract Concerning Paris , TX 75462 Page Five 11-8-g9
-- (Address of Property)
12. SETTLEMENT AND OTHER EXPENSES:
A. The following expenses must be paid at or prior to closing:
(1) Appraisal fees will be paid by Buyer
(2) The total of loan discount fees may not exceed % of the loan of which Seller shali
pay and Buyer shall pay the remainder. The total of any buydown fees
not exceed_ - which wit[ be paid by
(3) Seller's Expenses: Releases of ex sting liens ncluding prepayment penalties and recording fees;
release of Seller's loan liability; taxx statements or certificates; preparaton of deed; one-half of
escrow fee; and other expenses stipulated to be paid by Seller under other provisions of thi'~
contract.
(4) Buyer's Expenses: Loan application, origination and commitment fees; loan assumption cosb,
preparation and recording of deed of trust to secure assumption; lender required expenses incident
to new loans, includng preparaton of loan documents, recordng fees tax service and research
or underwriting fees, copies of restrictions and easements, amortization ~chedule,
fees,, wareh.ouse rt-a-e rte policies and endorsements required by lender, credit, reports,
premiums ro.r ~m_o~..~,~s for flood and hazard insurance; required reserve deposit, for in?~u, ranc.e,
premiums ,~uu .... *~. ,-.;,-f ~, ,~ates of first monthly payments; one-halT Of e~c~uw ,~=, ,=,,u
disbursements to one mu,~., ~.,,~ ....
ex enses sti ulated to be pa d by Buyer under other provisions of this contract.
other p P ...... * ~x"ressl,, stated in this contract for such expense to be paid by a
B. if any expense exceeos an ~,,~uu,,~ = ~ J
partT, that party may terminate this contract unless the other party agrees to pay such excess. In no
event will Buyer pay charges and fees expressly prohibited by governmental loan program regulations.
13. PRORATIONS AND ROLLBACK TAXES:
A. PRORATIONS: Taxes for the current year, interest, maintenance fees, assessments, dues and rents
will be prorated through the Closing Date. If taxes for the current year vary from the amount prorated at
closing, the parties shall adjust the prorations when tax statements for the current year are available. If
a loan is assumed and the lender maintains an escrow account, the escrow account must be transferred
to Buyer without any deficiency. Buyer shall reimburse Seller for the amount in the transferred account.
Buyer shall pay the premium for a new insurance policy. If taxes are not paid at or prior to closing, Buyer
will be obligated to pay taxes for the current year.
B ROLLBACK TAXES: if this sale or Buyer's use of the Property after dosing results in the assessment
of additional taxes, penalties or interest (Assessments) for periods prior to closing, the Assessments will
be the obligation of Buyer. tf Seller's change in use of the Property prior to closing or denial of a special
use valuation on the Property claimed by Seller resuts in Assessments for periods prior to c[osi?g,
the Assessments will be the obligation of Seller. Obligations imposed by tbs paragraph Will survive
closing.
14. CASUALTY LOSS: If any part of the Property is damaged or destroyed by fire or other casualty Io~.~
after the effective date of the contract, Seller shall restore the Property to its previous condition as soon as
reasonably possible, but in any event by the Closing Date. If Seller fails to do so due to factors beyonJ
Seller's control, Buyer may either (a) terminate this contract and the earnest money will be refunded to
Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as
necessary or (c) accept the Property in its damaged condition and accept an assignment of insurance
proceeds. Seller's obligations under this paragraph are independent of any obligations of Seller under
Paragraph 7.
15. DEFAULT: If Buyer fails to comply with this contract, Buyer will be in default, and Seller may either (a)
enforce specific performance, seek such other relief as may be provided by law, or both, or (b) terminate
and receive the earnest money as iquidated damages, thereby releasing both parties from
this contract If, due to factors beyond Seller's control, Seller fails w thn the time allowed to make any
this contract.
non-casualty repairs or deliver the Commitment, Buyer may either (a) extend the t me for performance up
to 15 dsys aqd the Closing Date will be extended as necessary or (b) terminate this contract as the see
remedy and receive the earnest money If Saber fails to com~ly with [his contract for any other reason,
c ......... ;n da[au',[ and r2t,~,'a~ ms.' ~:'.'-?r '~:':) enforce specf'c performapce ~e? s'~ch other re',ief as
may be provided by law, or both, or (c) terminate this contract and receive the earnest money, thereby
..~rtt,.~ from this con ract.
-, ......both-' '~
initialed for identification b~ and Seller 0lA TREC NO, 9-4
Page 5 "' 7
(TAR-1607) 11-8-99
Rt.1 Hwy 271 N.
Unimproved Properb/ Contract Concerning Paris , TX 75462 PageSix 11-8-9
(Address of Property)
16. DISPUTE RESOLUTION: It is the policy of the State of Texas to encourage the peaceable resolution of
disputes through alternative dispute resolution procedures. The parties are encouraged to use an addendum
approved by TREC to submit to mediation disputes which cannot be resolved in good faith through informal
discussion.
17. A'I-rORNEY'S FEES: The prevailing party in any legal proceeding brought under or with respect to the
transaction described in this contract is entitled to recover from the non-prevailing party all costs of such
proceeding and reasonable attorney's fees.
18. ESCROW: The earnest money is deposite~i with escrow agent with the understanding that escrow agent is
not (a) a party to this contract and does not have any liability for the performance or nonperformance of any
party to this contract, (b) liable for interest on the earnest money and (c) liable for any loss of earnest money
caused by the failure of any financial institution in which the earnest money has been deposited unless the
financial institution is acting as escrow agent. At closing, the earnest money must be applied first to any cash
down payment, then to Buyer's closing costs and any excess refunded to Buyer. If both parties make written
demand for the earnest money, escrow agent may require payment of unpaid expenses incurred on behalf
of the parties and a written release of liability of escrow agent from all parties. If one party makes written
demand for the earnest money, escrow agent shall give notice of the demand by providing to the other party
a copy of the demand. If escrow agent does not receive written objection to the demand from the other party
within 30 days after notice to the other party, escrow agent may disburse the earnest monety to the par:,
making demand reduced by the amount of unpaid expenses incurred on behalf of the party receiving tha
earnest money and escrow agent may pay the same to the creditors. If escrow agent complies with the
provisions of this paragraph, each party hereby releases escrow agent from all adverse claims related to the
disbursal of the earnest money. Escrow agent's notice to the other party will be effective when depositer~
in the U.S. Mail, postage prepaid, certified mail, return receipt requested, addressed to the other party at such
party's address shown below. Notice of objection to the demand will be deemed effective upon receipt b.y
escrow agent.
19. REPRESENTATIONS: Seller represents that as of the Closing Date (a) there will be no liens, assessments,
or security interests against the Property which will not be satisfied out of the sales proceeds unless securin~
payment of any loans assumed by Buyer and (b) assumed loans will not be in default. If any representation
in this contract is untrue on the Closing Date, this contract may be terminated by Buyer and the earnest
money will be refunded to Buyer. All representations contained in this contract will survive closing.
20. FEDERAL TAX REQUIREMENT: if Seller is a "foreign person", as defined by applicable law, or if Seller fails
to deliver an affidavit that Seller is not a "foreign person", then Buyer shall withhold from the sales proceeds
an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service
together with appropriate tax forms. IRS regulations require filing written reports if cash in excess of specified
amounts is received in the transaction.
21. AGREEMENT OF PARTIES: This contract contains the entire agreement of the parties and cannot be
changed except by their written agreement. Addenda which are a part of this contract are (list):
22. CONSULT YOUR A'FrORNEY: Real estate licensees cannot give legal advice This contract is intendud
to be legally binding READ IT CAREFULLY. If you do not understand the effect of this contract, consult your
attorney BEFORE signing
Buyer's Seller's
Attorney is: _Sydney Younq Attorney is: '~
Initialed for identification by Buyer L_ ' ?," and Seller 01A TREC NO. 9-4
Page 6 of 7
(TAR-1607) 11-8-99
-- Rt.1 Hwy 271 N.
Unimproved Property Contract Concerning Paris , TX 75462 Page Seven 11-8-9
(Address of Property)
23. NOTICES: Ail notices from one party to the other must be in writing and are effective WCen mailed
hand.delivered at, or transmitted by facsimile machine as follows:
To Buyer at: To Seller at:
510 NE 42nd
Paris Tx 75462 [~
Telephone: (903) 739-8870 Telephone:
Facsimile: Facsimile: '
EXECUTED the day of __ (THE EFFECTIVE DATE). (BROKER: FILL
IN THE D.~F ~CEPTANCE.)
. se,erca=o artin
Buyer~arles St~rling / Seller
The form of this contract has been approved by the Texas Real Estate Commission. Such approval relates to this contract form
only. Trec farms are intended for use only by trained real estate licensees. No representation is made as to the legal validity
or adequacy of any provision in any specific transaction, it is not suitable for complex transactions· Extensive riders or additions
are not to be used. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 1-800-250-8732 or (512) 459-6544
(http://www.trec.state.tx.us) TREC NO. 9-4. This form replaces TREC NO. 9-3.
BROKER INFORMATION AND RATIFICATION OF FEE
Listing Broker has agreed to pay Other Broker 3 % of the total sales price when Listing Broker's fee
is received. Escrow Agent is authorized and directed to pay Other Broker from Listing Broker's fee at closing.
Lonestar Realty C21 Parker Harvey
Other Broker Listing Broker
License No. License No.
represents [] Seller as Listing Broker's subagent represents [] Seller and Buyer as an intermediary
[~ Buyer only as Buyer's agent [~ Seller only as Seller s age t
Associate Listing Associate
Peggy Finney Gerald Whitesides
(903)785-8484
(903) 785-1333
Telephone Telephone
3310 La. mar Ave. Suite 1
Broker Address Selling Associate
(903) 785-1333 (903) 785-9480
Telephone Facsimil~
Telephone ~,
Broker Address
Telephone Facsimil~
REC~.[PT
Receipt of [] Contract and [] $ 500.00 Earnest Money.in the form of is acknowledg( '
Date:
Escrow Agent:
By:
Telephone:
Address Facsimile: _
City State Zip Coda
0lA TREC NO. 9 4
Page 7 of 7
(TAR-1607) 11-8-99 T,~5~'~ Z~ X