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<br />e <br /> <br />e <br /> <br />city of La Porte <br />Police station site - 2004 <br />Northeast corner of intersection <br />of Spencer Highway and 23rd street <br /> <br />EARNEST MONEY CONTRACT <br /> <br />STATE OF TEXAS <br /> <br />~ <br />~ <br />~ <br /> <br />COUNTY OF HARRIS <br /> <br />1. PARTIES: DAVID ANGEL (Seller) agrees to sell and convey to <br />CITY OF LA PORTE, a municipal corporation (Buyer), and Buyer <br />agrees to buy from Seller the following described property <br />situated in Harris County, Texas. <br /> <br />2. PROPERTY: The property which is the subject of this contract <br />is legally described as follows, to-wit: <br /> <br />9.14 acres, 398,087 square feet, out of Blocks 692 thru <br />695, 710, and 712 thru 713, including portions of streets <br />and alleys abandoned by Harris County Commissioners <br />Court, Volume 2, Page 610, Harris County Commissioners <br />Court Records, in the T . W . Lee" Subdivision, Richard <br />Pearsall Survey, A-625, Harris County, Texas, and being <br />more particularly described by metes and bounds on <br />Exhibit nAil attached hereto, incorporated by reference <br />herein and made a part hereof for all purposes. <br /> <br />3. CONTRACT SALES PRICE: $636,939.20 cash, computed on the basis <br />of $1.60 per square foot. <br /> <br />4. EARNEST HONEY: $5,000.00 earnest money (which shall apply to <br />the sales price) shall be deposited by Buyer with: <br /> <br />Southern American Title Company <br />1455 West Loop South, suite 100 <br />Houston, TX 77027 <br /> <br />Escrow Officer: Lisa Foote <br /> <br />s. SURVEY: Survey to be furnished by City of La Porte. <br /> <br />6. TITLE POLICY: Seller shall furnish an owners title policy in <br />the amount of the purchase price, from Southern American Title <br />Company, Houston, Texas, at Buyer's expense. <br /> <br />7. BROKER'S FEE: No broker. <br /> <br />8. CLOSING: The closing of the sale shall be on or before June <br />25, 2004, or within seven (7) days after objections to title <br />have been cured, whichever date is later. If there are any <br />liens against the property, Seller must furnish releases or <br />partial releases of lien, as required by Buyer and the title <br />company. <br />