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<br />Q
<br />
<br />PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREe)
<br />ONE TO FOUR FAMILY RESIDENTIAL CONTRACT (RESALE)
<br />NOTICE: Not For Use For Condominium Transactions
<br />
<br />01-06-03
<br />
<br />EQUAL HOUSING
<br />OPPOIlTUNITY
<br />
<br />1. PARTIES: CITY OF LA PORTE , TEXAS
<br />sell and convey to ~1\lN~ M~RT~ T,~KF.. rl c:; ngl p ',7nmrln
<br />Buyer agrees to buy from Seller the Property described below.
<br />
<br />2. PROPERTY:
<br />A. LAND: Lot 1 and 2, inclusive ,Block~,
<br />Addition, City of La Porte , Harris
<br />County, Texas, known as 330 N. 5th Street , La Porte , Texas 77571
<br />(address/zip code), or as described on attached exhibit.
<br />B. IMPROVEMENTS: The house, garage and all other fixtures and improvements attached to the
<br />above-described real property, including without limitation, the following permanently
<br />installed and built-in items, if any: all equipment and appliances, valances, screens, shutters,
<br />awnings, wall-to-wall carpeting, mirrors, ceiling fans, attic fans, mail boxes, television
<br />antennas and satellite dish system and equipment, heating and air-conditioning units,
<br />security and fire detection equipment, wiring, plumbing and lighting' fixtures, chandeliers,
<br />water softener system, kitchen equipment, garage door openers, cleaning equipment,
<br />shrubbery, landscaping, outdoor cooking equipment, and all other property owned by Seller
<br />and attached to the above described real property.
<br />C. ACCESSORIES: The following described related accessories, if any: window air conditioning
<br />units, stove, fireplace screens, curtains and rods, blinds, window shades, draperies and rods,
<br />controls for satellite dish system, controls for garage door openers, entry gate controls, door
<br />keys, mailbox keys, above ground pool, swimming pool equipment and maintenance
<br />accessories, and artificial fireplace logs.
<br />D. EXCLUSIONS: The following improvements and accessories will be retained by Seller and
<br />excluded:
<br />
<br />(Seller) agrees to
<br />(Buyer) and
<br />
<br />The land, improvements and accessories are collectively referred to as the "Property".
<br />
<br />3. SALES PRICE:
<br />A. Cash portion of Sales Price payable by Buyer at closing.................. $
<br />B. Sum of all financing described below (excluding any loan funding
<br />fee or mortgage insurance premium) .......................................... $
<br />C. Sales Price (Sum of A and B) ..................................................... $
<br />
<br />500.00
<br />90,'000.00
<br />90,son nn
<br />
<br />4. FINANCING: The portion of Sales Price not payable in cash will be paid as follows: (Check
<br />applicable boxes below)
<br />a A. THIRD PARTY FINANCING: One or more third party mortgage loans in the total amount
<br />of $ 90.000.00 . If the Property does not satisfy the lenders' underwriting
<br />requirements for the loan(s), this contract will terminate and the earnest money will be
<br />Jefunded to Buyer. (Check one box only)
<br />~(1) This contract is subject to Buyer being approved for the financing described in the
<br />attached Third Party Financing Condition Addendum.
<br />0(2) This contract is not subject to Buyer being approved for financing and does not involve
<br />FHA or VA financing. .
<br />o B. ASSUMPTION: The assumption of the unpaid principal balance of one or more promissory
<br />notes described in the attached TREC Loan Assumption Addendum.
<br />o C. SELLER FINANCING: A promissory note from Buyer to Seller of $ ,
<br />bearing % interest per annum, secured by vendor's and deed of trust liens, and
<br />containing the terms and conditions described in the attached TREC Seller Financing
<br />Addendum. If an owner policy of title insurance is furnished, Buyer shall furnish Seller with
<br />a mortgagee policy of title insurance.
<br />
<br />5. EARNEST MONEY: Upon execution of this contract by both parties, Buyer shall deposit
<br />$ '100 00 as earnest money with Fidelity Title Co. ,
<br />as escrow agent, at (address).
<br />Buyer shall deposit additional earnest money of $ with escrow agent within
<br />days after the effective date of this contract. If Buyer fails to deposit the earnest
<br />money as required by this contract, Buyer will be in default.
<br />
<br />Initialed for identification byB.u~
<br />
<br />
<br />and Seller
<br />
<br />01 A TREC NO. 20-6
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