Laserfiche WebLink
<br />908 and 912 West Main Street, La Porte <br /> <br />Commercial Cqntract - Improved Property concerning <br /> <br /> <br /> <br /> <br />Thir : One or more third party loans in the total amount of $ <br />contract. <br />o (1) is not contingent upo r obtaining third party financing. <br />o (2) is contingent upon Buyer obtai . . In accordance with the attached Financing <br />Addendum. <br /> <br /> <br /> <br />B. Assumption: In accordan the attached Financing A m, Buyer will assume the existing <br />ed by the Property, which balance at closing wi! <br /> <br />r inancinq: The delivery of a promissory note and deed of trust from Buyer to <br />. ci.Ag Addendum in the-amount..: <br /> <br />5. EARNEST MONEY: <br /> <br />A. Nqt later than 3 days after the effective date, Buyer must deposit $ 10.000.00 as earnest <br />. money with American Title Company. Deer Park. Texas <br />(title company and escrow agent) at 5El03 College Park. Deer Park.. TX 77536 <br />(title company's address). Buyer will deposit additional <br />earnest money of $ on or before: 0 (i) the day after Buyer's right to <br />terminate under Paragraph 78(3) expires; or 0 (ii) <br />The title company is the escrow agent under this contract. <br /> <br /> <br /> <br />. <br />B. If Buyer fails to timely deposit the earnest money, Seller may terminate this contract by providing written <br />notice to Buyer before Buyer deposits the earnest money and may exercise Seller's remedies under <br />Par:agraph 15. <br /> <br />~. Buyer;may instruct the escrow agent to deposit the earnest money in an interest",bearing account at a <br />federally insured financial institution and to credit any interest to Buyer. <br /> <br />6. TITLE POEICY, SURVEY, AND UCC SEARCH: <br /> <br />A. Title Rolicy: <br /> <br />(1) Seller, at Seller's expense, will furnish Buyer an Owner's Policy of Titie Insurance (the title policy) <br />issued by the title company in the amount of the sales price, dated at or after closing, insuring Buyer <br />against loss under the title policy, subject only to: <br />(a) those title exceptions permitted by this contract or as may be approved by Buyer in writing; and <br />(b) the standard printed exceptions contained in the promulgated form of title policy unless this <br />contract provides otherwise. <br /> <br />(2) The standard printed exception as to dis~repancie?, conflicts, or shortages in area and' boundary <br />lines, or any encroachments or protrusions, or any overlapping improvements: <br />o (a) will not be amended or deleted from the title policy. <br />[[l (b) win be amended to read "shortages in areas" at the expense of Kl Buyer B Seller. <br /> <br />(3) Buyer may object to any restrictive covenants on the Property within the time required under <br />Paragraph 6D. <br /> <br />(4) Within 30 days after the effective date, Seller will furnish Buyer a commit'11~nt for. title insurance <br />(the commitment) including legible copies of recorded documents evidencing title exceptions. SeHer <br />authorizes the title company to deliver the commitment and related documents to Buyer at Buyer's <br />address. <br /> <br />(TAR-1801) 2-6-02 <br /> <br />In;'aJed ti" Identification by 8UY~ <br /> <br />IY {.&:-r <br />Seller 4f1tP- <br /> <br />Page 2 of 14 <br /> <br />Produced with ZipFoll11 '" by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035, ~800) 383-9805 <br />