HomeMy WebLinkAboutLegal Documents
-\ --
\ \
EARNEST MONEY CONTRACT
THE STATE OF TEXAS
COUNTY OF BRAZOS
.-Th.is is a contract whereby MICHAEL ~~. RENGHOFER, ~JR.,
JANE ELIZABETH R~NGHOFER INGRAM, and THERESA FRANCES RENGH()FER
PICKETT ,asdeviseesunder the Will of ELIZABETH RENGtlO]~ER,
deceased, acting herein by and throughMICHA$L M. RENGIIO]~ER,
,
JR. 1 Independent Executor of the Estate of Elizabeth Rengho~Eer,
deceased, of Baltimore, Maryland, herein called nSell,~r" I.
(whether one or more), agrees to sell top &6 INVESTMENTS, a
· Texas . General Partners.hip, of 711 University Drive, College
.
Station, Brazos County ,Texas, herein called "Purchaser", who
agrees to purcha~e, upon the terms and provisions . hereof, the
following descr ibed real property, in its present conc:1i tiqn,
situate~ in Brazos County, TexasJ to-wit:
Being all that certain lot, tract or parcel of land lying
and being situated in the RICHARD CARTER SURVEY in Bra.zos
County, Texas, being further described as Lot 14, and the
adjoining 50' x 150' of Lot 13, Block "A", COLLEGE
HEIGHTS SlJBDIVISION, College Station, Texas, ha.ving a
street address of ,
to.gether with the .fo.llo,^,irig fixtures, if . any : .cur'tain
rods, drapery rods, venetian blinds, window shades,
screens and ,sllutters, awnings, wall-to-wall carpeting,
mirrors fixed in placeJ attic fans, permanently installed
heating and air conditioning units and equipment,
lighting and plumbing fixtures, TV antennas, mail boxes,
\vater softeners ,shrubbery and all other property owned
by Seller and attached to the above described real
property. All property sold by this contract is called
"Property".
Purchaser accepts the Property in its present condi.tion
and Purchaser accepts the Property lias is".
The total sales prices is TWO HUNDRED TEN TfIQD8AND AND
NO/IOD DOLLARS ($210,000.00), payable, as follows:
1) All cash , of which Purchaser agrees to forthwith
deposit withYOUNGKIN,Cl\TLIN ,BRYAN & Sl'ACY in Bryan, Brazos
County, Texas, as Escrow Agent, the sum of TWO THOUSAND AND
NO/lOO. DOLLARS ($.2,000.00), as Earnest Money, to bind this s~ale,
the receipt of which is hereby acknowledged and confessed, and
PROVIDED,
HOWEVER,
notwithstanding
anything
he:rein
contained to the contrary, it is expressly agreed that -this
PAGE 2
contractiscontingentUP9nand sybjectto P~rchaser's obtaining
a loan upon terms acceptable to Purchaser, to be secured l:~y a
Vendor's Lien retained and trarlsferred to such lender in the
De~d t6 b~ executed by Seller h~reunder, and additionally
secured by a Deed of Tr\lst acceptable to thEe Lender; SU.Cfl loan
...
to be closed simultaneou~ly wi th the closirlg of this sale;. and
if Purchaser is unable to secure and clo~e such loan within the
time herein providedfC)rclQ~ing, this con1;.ract shall there\lPQn
terminate and the e\arrlest money shall be refunded to Purcha~;er,
and thereupon there sha1l be no obligation to be borne,
performed or enforced by any party hereto.
Seller, at Seller's expense, agrees to cause to be
.
furnished to Purchaser an Owner's TitlePQlicy issued by BRl~ZOS
COUNTY ABSTRACT COMPANY guaranteeing Purchaser 'stitle to be
good and indefeasible covering the above described property.
Seller is to also furnish Purchaser,at Seller's expense,
a current survey prepared by Don Garrett Engineering, tax
certificates showing no delinquent taxes,
(current taxes,
insurance and rents, if any, tabe prorated to date of closing),
a General Warranty Deed to be recorded at Purchaser's expense,
conveying good and marketable title subject only to any liens to
be created or assumed hereunder and the following:
1. Present restrictions, if any, existing against said
property.;
2 . Existing Building and Zoning Ordinances, i.f any;
3. Rights of parties in possession;
If Owner's POlicyo.fTitle Insurance is to befurnislled
hereunder, the same is to be delivered as and when the salE~ is
closed, which shall be on or before sixty (60) days from date
hereof unless attorneys for said Title Company discover
objections to title, in which case sale is to be closed ,~hen
objections are removed, provided the objections are removed
within a reasonable time, which in rlO event shall extend be~{Qnd
PAGE 3
90 days from date hereof. It is agreed that by the delivery of
Owner's Policy of Title Insurance (form pr~scribed by St.ate
Board of Insurance of the State of rfexas) under the terms of
this contract , dated as of the date of closing and issued to
Purchaser in the amQunt of the total sales price guaranteE~ing
...
purchaser's ti tl.e to be good andindefeas iblesubj ectonlyto
the for"egoin.g-exceptions .and the following:
1 . Restrictive covenants affecting the lan.ddescri.bed
or referred to above.
~ 2. Any discrepancies, conflicts, Qrshortages ~n area or
boundary lines, or any e11croachments, or any
overlapping of improvements.
3. All taxes for the current and s~bsequent years.
~ime isaf the essence of this contract.
Upon failure of Purchaser to comply heI.-ewith, for any
reason except for (1 ) Seller's inabili ty to furnish the ti tle
policy contemplated by this agreement or (2) any other
contingency or condition hereof is not satisfied including the
removal of any restriction or exception which affects said
property which would render the property unfit for the purpose
ofPurcha~er, Seller shall have the right to retai11 t11e earrlE(st
money herein, as liquidated damages. However ,Purchaser nlust
notify Seller of such restriction or exception within thirty
(30) days from date hereof. If title is found objeQtionable and
is not cleared within the time herein provided, or upon failure
of Seller to comply herewith for any other reason, Purchaser may
demand back the earnest money, thereby releasing Seller j:rom
this contract.
Prior to the consummation of this sale, the risk of lc)ssor
damage to said property by fire, wind, storm, lightening, flood
'o.'r'othe.r casual ty shall be on Seller and in the event of such
loss or damage, Purchaser shall have the option (to be
exercised within ten (10) days after written notice of loss) of
cancelling this contract and receiving baok the earnest mc)ney
PAGE 4
or closing the sale according to this contract and receiv"ing
from the Sell~r an assignment of the insurance proceeds.
Any signatQryto this contract who is the prevailing party
in. any lega:+. proceeding against any other signatory brought
under or with relation to this contract or transaction shall be
,
additionally entitled to recover court costs and reasonable
attorney fees from the non-prevailing party.
Current taxes, insurance (if applicable), rents and
.maintenance fees shall be prqrate~ to the date of closing.
If Purchaser, under the terms hereof, is to secure a loan
from a third party, all expenses and cQnditions of securing and
closing such loan shall be Purchaser's obligation.
SPECIAL PROVISIONS:
1. Minerals. Seller shall convey all executive leasing
privileges to Purchaser in connection with all
minerals, if any owned by Seller. Seller shall
retain one-half (1/2) of any minerals, but wai.ves
surface use.
2. Seller is to provide and pay for termite inspection.
3. Seller is to pay all usual closing costs attributable
to Seller. Purchaser is to pay all usual closing
costs attributable to Purchaser.
4. This contract shall be contingent upon the subject
property being zoned for commercial use. In the
event the property cannot bezonedforcorcunerc:ial
use, this contract shall terminate and all earnest
money shall be returned to Purchaser.
The closing of this sale (the "Closing Daten) shall be~ Ofl
or before sixty (60) days from date hereof. The possession of
the Property shall be delivered to Purchaser at closing, in its
present condition, ordinary wear and tear excepted.
If, as, and when the closing occurs, Seller hereby ag:r'ees
to pay to ENOCH SMITH, in cash for his services in connection
with t11is transaction, a commission in the amount of five (5%)
~~rcent of the sales price of the subject property.
All the terms and conditions of this contract are hereby
made binding on the executors, heirs, administrators, successors
and assigns of both parties hereto.
~
'PAGE 5
This contract may not be Gt~signec1 by Purghaser wit110ut
Seller's written~onsent.
Tl1iscontract contains t11e entire agre~ll1ent o.f the paJcties
and cannot be charlgeo. except by their written consent.
EXECUTED in multiple copi€?sthi$
"
day of
, 1988.
MICHAELM.. RF;NGHOFER, .JR. ,
Independent Executor of the
Estate of Elizabeth Renghofer,
Deceased, SELLER
D & S INVESTMENTS
By:
Name:
Title: Partner
PURCFIASER
Seller's Attorney:
Brooks Cofer
200 E.33rd Street
Bryan, TX 77803
409/822-7575
purchaser's Attorney:
JackW. Dillard
YQUNGK.IN ,CATLIN, BRYAN & ST4ACY
P. O. Box 4629
Bryan, TX 77805
409/776-6607
Receipt of Earnest M9ney is hereby acknowledged on this the
day of , 1988 I in the amount of $2,000, . 00
in the form of. a check written by
payable to YOUNGKIN, CATLIN, BRYAN & STACY ESCROWG
YOUN<:;KIN, CATLIN, BRYAN & STACY,Escrow Agent,
By:
Name: .
Title:
'-
.~ ~"f3
.~~.~ ~m'j~}o.. (~ ~)
~~~~~~.
!)~~~~ ~~~~.
~~~~ ~.
~-~.r~.~
.J)~~-A.~~.~~~<~
~~~/?~~~
~ c[l~~1 t,,44' dL.+ J~? ~
~~Q.4/~ /3 ~,/~ .
e?~...8/~ ~ d~ ~~J
~~/~. ~.~ ~ a4
~ 4- J4. (3) ..~~.~A ~
T}I.tJ~~ JJ.~.~~. S7h~
~. .. ........ ... ... ...... l'1Z3/ ~~~
~~l;VJ~ 637..t03?)~~
J]~ ~j .'4-4t; · .~ ~
~..~~~
I~.J?~ '30 /7Z~ ~
~~ ~ 7/; p~ 30/.
~~._~/Ojoo<,..ao (~d.~
. -..YJ?%oo, 00 ~~~ ~_~
-!I.~.8 SJ~.$~ ..
~..L- ~.~~.
~ - ~.................. ~. ..... J..........~.......... .................. ..... ............i... ...1. SJ..~QefJ.'.~.. . .
f."6/~-~~~~/~
~~ ~...~.. ... .... I.~ /&J~
~A.~../ ... .S7cJ'rJ~
~-~~,~ ~~.
;1'
~:'
:'.~...;r...
,.. .......
:':l ~,
~{
,-,.lIe
&.oA - ~A~.~'~.~~,o~ .
<f~ ..~ ~ ~,(~+,~~~)
i)-i~ ~~A~.>>>......... -6f~ ~
~~J~~~~
~~~.
~..~ ~~.A. '~.,~~'
~. .... .' '> ... ~., .. .' ....... '. .......,.
~'.~~' ~ cJ ~
~'., ~.~
~~A ~~d~
.~.~~/~I ~
~.~..'. .................... ~..... ...>...>..~................... ...~.... A.......~.... ........... .~. .~.."'.'. '.
l'~ ~~~~&~
~~>~~~~A-~
~.A~~~~~.
~..tf6 - ~/O S-
t:?f~/~. ~.~~..~~..
-~~..~Jl~ ~~.~
(}~~.~. ~~~~~
~)til.~c7~-~ ~ .cj ~. ..or~ 4
~~ ~rJ ~'.C:kc+J rJ~)
I,
:i!$:.
:'.":J:.;
, ..I~""
:1~~
~!t~t~~: ~
XI ,W" /, " '\.... . " " ,,' '\.'"<' -~"'~."i ..',' ,
... " ,..,.. ./ ': ,'\.. ",'- ,'\. ' , ",,' '\' ~
" ~ ,,\ ,~.-.&.. , '\' ,", ' ,'\. '.'...X ..'(0 .....: ....... \V
,..:...,~.,.~... 'I.' '" ' .Jt p \. ' " " 'c' . ' ,,1'\ '\..
\ Q "" ' , ' : <1)'-< '\.' " (.),.,,,,, ,'"
" r" ,,/" '" " ,: '~ ;' ... ," ' ' 'lI
1\ ,) , , ' (I".~ " , \. '\." c"
; "'\. c,': \. \."," " \..I~ " '0 'X.. ....,.......,. '.,'.'.. .'. .,..
': :': , " ' , ~ ' ,', " , _.." "'l~, "" ' ': ' " ," ....; ~ ..' . ':,;. ,
'~ ' ," ''\ \. '/:' ,,: '/-, ' ' , '\.' , " ' ,\,'
! :,' ./ ~"'. , " " " ~ " ''" . ")Y' .....,..
',' ... 0 /_\..' r. ",. ,,' " ' \. . " '\..4' '" . " ,
:)\.,',: ' ,,\ .; , ,y.'~'; ''" , , "x'" 0 /' ' ' ", ,', "\, / ' "
: ,,, '\. ,I' ' " " ',' " '... of"" \. ;
!:, ',', ,,' . " p . '<' ," ~" "/
: ' ,/,,: ...' '\. /' ,,\" / ,'. ." Y' ': '
1/.'. ,," ' ,,/', : " IS' ~ ~ . ,/
/:' ,c, /\.', ,.' \. ,1'", .'" ..."'" ,: fP\" ~ ,,' · /
II" ,,/: ' ' ,," '," · '\.' " ~ ' '\
: /:' ",' ,," " " , .... ,,', / ,- .. ,,\. ./' / " . ~ " '
.. ,.. ,.." .,:, ..: " '.. ". ' /, \ " ," '1I',' 4-., , , .... '
/' 0 ,\. ' .:"" ""'/ev · : '\. ,', / \..' .r
1/ ' ,', '\~ ' ' t, I "'~/'. CO., :' '. "' ,... ........, , .,' ''',' '" "," " .' , 0 '. '
I' ' \. ,1oloi ",~"", ,'I ... ' ' '
" " " , ,,'" ./', A '
, ' "" ' ' '...:;" '- /" ' -
I ,", ' ' ,/, ' '" ,'\. ' ,'" /: ,./"
I, ",,(1\, \.' 'U ," '\ '/: ' "/' '", \.'
I ' ' ... ' '... ./' ' ' ' '\.' " '
I. ",,' , '" "''I . ", ./"; , ,', '. A " '
, ", ,'\... ' ,,' ,:" ", " y , , ' ,o~,
I. .,' .A'><...'.:. ..' -I'"",, , ' d. /,' ~ ' ",: ~,.".
',;'; .'./;'"".'..'..';. .. /0" ", ;.v./ """, ~ '
, , , ",'I ,"," ' ; /.. ' '" ',,, . : " '\.' ,'. ..1 V '" " \. " - '\.
... ... ,:' /, :..'... :," .....' , ' , ",,' ..., ()~ /' \. . ' ,', '\.
.' . ....." ' , 07 ~ / ,:e " , ' '" ,
: e'" H"" . h," . .:..,:;' ". \. .', .',. ...;. ' ",' '0 ~ '+. /:'\...... . ~ "', .. .' ..... ,/"\
rt) . ./ '. ". . ..; . '\../ ~, · .c . '\... \..' '~--,-
" ,/ , . '\. j,' 0 ... ,.' '../' " .' ;.' . ... /: . ',:; ',<--
",,\ ,.,.. \.' "7"""'" 'I:, ..~ 'v-
, '.' . . '. ;.... .' ,,/" '.. "_ . . '. \.: '" >/'. '. .... ,..,. 'f.J",..",...'f) ~~
'. /.\.. ,. . \"'" ""," .' ,r- '-'
. /,,.: j, ./ yo, ... :'\. :'-:...'~,~:<1.""".'....; -;~
" /' " ,","" ... ; , " " "or.'~;:.' .~'- .' "-
, /' .. " ../' . .......' .Ai' .... . · - '"'' ":)
/ '. ,.... . .'. '\. . 1}l . ~ \1 .... . ex"
~. Z-il/ I":: \....'. . 9':~~'.;{\;-\'~\'>" .\'~r/l~'\ ql
voX: ,. / ... ".' ~'. .'. . '\ '.: ~~"';~." !,'< .'.I'. '.~ . .'i i- ,1
v ..,/! I .. .... \ ',' p. . \. rf 1..:' .1 11).'" . ,'.. . ftttl ,
\. '_/ ./ '. ..... . r;.' . '.' \. '. . .., ~ \ '. ..' ......./.\ '. e;~ ~
, '\. /. """ .; '- . " " .. _ ','. '\" \. ~:1' .
v, " , ". . =" ".. ,-' ' " ", "."... T "
. ./.'. . '" '" . -jr' :,' '\ . . ...... '".' '\.'v.
. ',," '._' . " /:.,. .' .... . A ".' ~\ '.' \ . . .. ,'. /'
. .,:\\,"" , :..' / ",_ . . x' X . ,\''\.. '~%I 0".. ;
~ ',' '\.\. '/. /, ",.'. ..\(L... .' .; 'V
A. ",' I ' \. " c, ,
, )(. . ,X" .'.:':".',' ... ...... ...' ..................... '.:\. .'
..' ." .' '\.
, " ' ' ' , : ' , ''\.. '
. . . 0 . '.'",. ~. .''/ '\.
.""....) , / '\. .... '. '\ ,.
. 'v ./ " .' '\ .' '- . /'I
,.... /; '" \. ...;/ .'\......... ~~ ." , ;/ ..."
/' /. .. . ". '. . / \. . .' '- ~ \lo '\'" . ~~ " .' " .
" . '''' " . ,/I.~" ;. . V ':) , .' ~ '.
/ ' ".. . .' '. '. I ',," . . ./ g. . <./ ' . .
/' . " . ' .' '\. . /1' ,.' .' /'. /.' - /:' ,.. :.:.... .,':
,/ "0 . ...,/ ...... '\. / . CO ' . /'/: f,,':> 'c.., .""
. -" / .,. . . '\.., .,../. . ~.~. " .
. .,/ . ., ,'\' / '- .
:... ..: .+.'~..~:. ,;: / . ... ./ /' . '" ./ .........,' .~..
. . . p .... . '., \. ~\l/ ../ ,,'\. . ,,' '. .'. . '\..
~&
I>-
r
!
I
I
f
,
EARNEST IvIOI'lEY CONTRACT
THE STATE OF TEXAS
C01JNTY ()F BRAZOS
This isacon"tractwhereby McNEIL FICK and wife, ~1ARY
FRANCESFICK, of Texas, h~l:ein
called "Seller", (whethE;ar one or more), agrees to sell to D & S
INVESTMENTS,
a 11exasGeneral Partnership 1 -of 711 University
'\
Dr i ve, College Station 1 arazos CO\;1nty, T~xQ.s, herein called
"Purchaser", who agre~s to purchase, upon the terms and
provisions hereof, the following descri:Qed real property, in its
present condition, situated in'Brazos County, Texas, to-wit:
Being all that certain lot, tract or parcel of land lying
and being situated in the RICHARD CARTER SURVEY i11Brc:lzos
county, Texas, being further desc~ibed as Lot 12 and part
of Lot 1.3, Block "A", COLLEGE HEIGHTS MARGINAL
SUBDIVISION, College Station, Texas, having a street
address of ,
together with thetol1owirig fixtures, if any: cur"tain
rods, drapery rods, venetiarl blinds., window shad.es,
screens and shutters, awnings, wall-to-wall carpeting,
mirrors fixed in place, attic fans, permanently installed
heating and air coriditioning units and equipment,
lighting and plumbing. fixtures, TV antennas, mail bO:Kes,
water softeners, shrubbery and all other property owned
by Seller and attached to the above described :real
property. All property sold by this contract is called
11 propert~ln .
PROVIDED, HOWEVER, after the closing of this transaction,
Seller will remove all personal furniture (not attached
to premises), including, but not limited to, stove,
refrigerator, window units, etc.
Purchaser accepts the Property in its present condition
and Purchaser accepts the Property "as is".
The total sales prices is EIGHTY-TWO THOUSAND FIVE
HUNDRED AND NO/lOa DOLLARS ($82,500..00) 1 payable as follows:
1) All cash, of which Purchaser agrees toforthwi th
deposit .with YOUNGKIN, CATLIN ,BRYAN & STACY in Bryan,Brazos
County, Texas, as Escrow Agent, the sum of TWO THOUSAND AND
NO/loa DOLLARS ($2,000.00) ,as Earnest Money, to bind this sale,
the receipt of which is he,reby acknowledged and confessed, and
PROVIDED,
HOWEVER,
notwithstanding
anything
herein
- ;""ctjr.L'tained to the contrar;l , it is expressly agreed that this
PAG.E 2
contract is contingent upon and subjeC;"l: to Purchaser's obtairling
a loan upon terms acceptable to Purchaser , to be secured by ~
Vendor's Lien retained and transf~rred to such lender in th~
Deed to be executed by Seller hereunder, and additionally
secured by a Deed of Trust aco~ptableto the Lender; such loan
"
to be closed sim~ltaneously with the olosing of this sale; and
if Purchaser is unable to secure and close $uch loan within the
time herein provided for closing, this contract shall thereupon
· terminate and the earnest money shall ~erefunded to Purchaser,
.
and thereupon there shall be no obligation to be borne,
performed or enfQrce<lbyanl' partyheretQ-
Seller, at Seller's expense, agrees to cause to be
furnished to Purchaser an Owner' sTitle Policy issued by BPJ~ZOS
COUN'rY ABSTRACT COMPANY guaranteeing Purc.haser 'sti tIe to be
good and i~defeasible covering the above describecl property.
Seller is to also furnish Purchaser, at Seller's expense,
a current survey prepared by Don Garrett E~gineering, tax
certificates showing no delinquent taxes,
(current taxes,
insurance and rents, if any , to be prorated to date of closi11g),
a General Warranty Deed to be recorded at Purchaser's expense,
conveying good and marketable title subjedt only to any liens to
be created or assumed hereunder and the following:
1. Presentrestrictiotis, if any, existing against said
property;
2. Existing Building and Zoning Ordinan~es, if any;
3. Rights of parties in possession;
If Owner' sPolicyof Title Insurance is to be furnished
hereunder, the same is to be delivered as and when the salE~ is
closed, which shall be on or before sixty (60) days from date
hereof unless attorneys for said Title Company discover
objections to ti tle, in which case sale is to be closed when
objections are removed, provided the objections are removed
within a reasonable time, which in no event shall extend beyond
PAGE 3
90 days from date hereof. It is agreed that by the delivery of
Own~r' s Policy of Title Insurance (form prescribed by State
Board of Insurance of the State of Texas) under the terms of
this contract, dateclas of the dat~ of' closing and issuecl to
Purchaser int11earnount of the tgtal sales p:x:-ice guaranteeing
,
Purchaser' s title to' be good and indefeasible subj ect onlj' to
the foregoing exceptions and the following:
1. Restrictive covenants affeQting the land described
or referred to above.
. 2. Any discrepancies, Gonflicts, or shortages in area or
bQundary lines, or ~ny encroachments, or any
overlapping of improvements.
3. All taxes for the current and subsequent years.
Time is Of the essence of this contract.
._.tlPOP fail-g.repofPurchaser to comply he:J:ewith, for any
reaSOl1 except for (1) Seller's inability to furnish the' title
policy contemplated by this agreement or (2) any other
contingency or condition hereof is not satisfied including the
removal of any restriction or exception which affects said
property which would render the property unfit for the purpose
of Purchaser , Selle.r shall have the right to retain the earnest
nloney herein, as liquidateddaroages. However, Purchaser must
notify Seller of such restriction or exception within thirty
(30) days from date hereof. If title is found objectionable and
is not cleared within the time herein provided, or upon failure
of Seller to comply herewith for any other reason, Purchaser may
demand back the earnest money, thereby releasing Seller from
this contract.
Prior to the consummation of this sale, the risk of loss or
damage to said property by fire, w~nd,storm, lightening, flood
or other casualty shall be on Seller and in the event of such
loss or damage, Purchaser shall have the option (to be
exercised within ten (10) days after written notice of loss) of
cancelling this contract and receiving back the earnest money
PAGE 4
or closing the s~l~ accorqing t.o this contract and receiving
from the Seller an assignment of the insuranc~proGeeds.
AnysignatQrytQthis contract who is the prevailing :r;.arty
in any legal proceeding agail1stany other signatorybrouLght
under or with relation to this cont~act or transaction shall be
,
additionally entitled to recover court costs and reasonable
attorney fees from the non-prevailing party.
Current taxes, insurance (if applicable), rents and
maintenance fees shall beprorateCi to the date of closing.
If Purchaser, under the terms hereof, is to secure a loan
from a third party, all expenses and conditions of securing and
closing such loan shall be Purghaser's obligation.
SPECIAL PROVISIONS:
~ '
1. Minerals. Seller shall convey all minerals I if a.ny,
owned by Seller.
2. Seller is to provide and pay for termite inspection.
3. Seller is to pay all usual closing costs attributable
to Seller. Purchaser is to pay .all usual closing
costs attributable tel Purchaser..
4. This contract shall b~ contingent upon the subject
property being . zoned . for commercial use. In the
event the property cannot be zoned for conuner<::ial
use, this contract shall terminate and all earnest
money shall be returned to Purchaser.
5. This contract is further contingent upon the
satisfactory completion of the acquisition b~l
Purchaser of, adjoining property simultaneously wi t11
the closing of tllis tra11saction.
T11e closing of this sale (the "Closing Date") shall be on
or before sixty (60) days from date hereof. The possessioll of
thePropertysh.all be delivered to 'Purchaser at closing, in its
present condition, ordinary wear and tear excepted.
Atthepresen.t time, there. is an agreement between the
Seller and the tenants of this Property that in the event of a
sale of the SUl:>ject property , the tenant will be given 30-dcays<'
tlotice in which to vacate the premises. At closing , Purchaser
r. 'i
P~~GE, 5
may elect to continue the lease or to give notice to the current
tenant to v~cate the premises. If Purchaser elects to contin~e
the lease, all security deposits ,if q.ny, shall be transfeJ:~reQ.
to Purchaser, and all rents will be prorat.ed to date of,,~losing.
If, as, and when the closing oC9urs,Seller hereQyagI~ees
"
,to pay to ENOCH SMITH , in cash for his services in cQnnect~ion
with thistransaotion, a commission in the amount of $3 ,900i. 00.
All the terms and conditiqn$ ,Of this contract a,rehel:eby
'made binding on the executors ,heirs, administrators, successors
and assigns of both parties hereto.
This contract may not be assigned by Purchaserwitllout
Seller's written consent.
f
This contract contains the entire agreement of the parties
and cannot be changed except. by their written consent.
EXECUTED in multiple copies this
day 0 f
, 1988.
SELLER:
McNEILFICK
MARY... FRANCES. FICK
PURCHASER:
D & S INVESTMENTS
By:__
Name.:
Title: Partner
Seller1s Attorney:
phone. No.:
Purchaser's Attorney:
JackW. Dillard
YOUNGKIN,. CATLIN., BRYAN & STACY
P.O. Box 4629
Bryan, TX 77805
409/776-6607
PAGE 6
Receipt of Earnest Money i~ hereby acknowledged on this th~
day of , 1988, in the amount of $2,000.QO
in the form of a.. cheCK written by
payable toYOUNGKIN,CATLIN, BRYAN & STACY 'ESCROW.
YOUNGKIN, CATLIN, BRYAN & STACY, Escrow Agent,
By:
'Name:
Title:
..
-oI~ ~ ?1Pr ~l 4~ ~ ~ .~. ~~
4~ .~- ---- .
f~ ~. +-4. ~
t)~'-C?~~~~k(~
~.
?~4~8'z/sat!),CJo ~~ ~ .'
../0 <:{..a (). <;0 0 ~..k. ~~ ~
~.~ ~.4)~,..~. iJ~~~
~~~~..~ .'
j~- ~~~.~ J~~)~ f~J
F~~~'1~/~~
· A~.~ ..........................J ~.,f?~~ .
........ ........... .............................. ....A.. ......... ...~. ........ ~ ~~. .'7..j-"o. o~ ·
.. . . .......1
p~ ~.~~~~~.
..Dah - ~A~~ ~~~c>~J~
~1~'
~~~~;;U-~~
~~
~~ ~.~~ J~~
~~/~-M.:tit'A'~
~'.~,
~. ~..~~.~.~~~~
~'~~~~~~oj
tL~ ~~~~ 3o~.A
~ -.~~~~c>t-
~ ~A~~CJti~~~
f~
~'
'Jit~
'~fl'
- ,.
::$;'
~?~ffl-...~A~~~
~~)rI~.~
~ ~ y .fft~ ( .w'lr'_~
~-;h ~.~(. -I{~t.-'~i'- r:A. C./dr i~
..
~~~~LJcny -c1~
~~~)~~~ .
~.~~~.~. p~
rA&~~..~~.
~~~-a ~.'
~1*6-~/CJS
:~~~.
l:4.
~.'
.~