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<br />livl Not enter into any wrmen or oral ~ervic~ conrract or other agreemenr Willi re~reCI tll the Prllpeny Ihell will not l~ iully performed
<br />hy Seller on or hefore the Clo~inll Date, or that will nor be cancellable hy Bl'yer wnhout lIahillty on or afler the Closing Date, without
<br />the pmlr ,,'rinen conseOl of Bu\'er;
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<br />lv) Nlll enter 1010, or alter, amend, or otherwise modify, or supplement any lease without the prior wrillen consent of Buyer;
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<br />(vi) Nor J:raOl any honus, free month's rental, rehatt or other concession to any present or furure tenant of the Property;
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<br />(vii) Advise Buyer promptly of any litigation, arbitration, administrative hearing, or legislation before any J:overnmental body or agency
<br />of ,,'hich Seller hecomes aware, concerning or affecting the Property which is insllluted or threatened after the date hereof;
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<br />(viii) Keep, ohserve, and perfllrm all its obligations under the loan(s) assumed or taken suhject to;
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<br />(ix) Not take, or omit to take any action that would have the effect of violating any of the representati(llls, warranries, covenants, and
<br />agreemeOls of Seller contained in this Contract.
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<br />19. USE OF PROPERTY: Seller D has D has nor claimed the benefit of laws permitting' a special use valuation for the purposes of payment of ad
<br />valorem taxes on the Property, and if so, Sellet represents that he was legally entitled to claim such benefitS, If Seller claimed such benefit and
<br />after the purchase is closed, Buyer changes the use of the Property and the same results in the assessmenr of additional taxes, such additional
<br />raxes will be the obligation of the Buyet, The representation herein shall survive closing,
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<br />20. PROPERTY SURVEY: Within l80 days from effective date hereof, Seller, at Seller's sole cost and expense, shall cause to be delivered
<br />to Buyer a cUlTent plat or survey of the Propeny, prepared by a surveyor acceptable to the panies and the Title Company closing this transaction,
<br />The survey shall certify to the Buyet and Title Company that: (i) the survey was made and staked on the ground; (ii) the plat shows the location
<br />of all improvements, highways, streets, roads, railroads, rivelS, creeks, or other waterwdYS, fences, easements, and rights-of-way on or adjacent to
<br />the Propeny, if an\'; (iii) there are no visible discrepancies, conflicts, or encroachments except as shown on the survey plat; (iv) the Propeny does
<br />not \ie in the 100 year flood plain as established by the U. S, Army CorP of EngineelS or any other governmental body; (v) the survey plat is
<br />a true, COlTect, and accurate representation of the Property; and (vi) the survey sets fonh the number of total acres/square feet comprising the
<br />Propeny, together with a metes and bounds description thereof, All easements and rights-of-way shall be referenced to the recording information
<br />applicable to the documents creating such easements or rights-of-way which have been recorded with the County Clerk of the County in which
<br />the Propeny is located, The survey shalllocare and mark all camelS and i1nllles of the Propeny's perimeter on the ground with permanent, buried iron
<br />surveyor's stakes,
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<br />21. CONDEMNATION: If prior to Closing Date condemnation proceedings are commenced against any ponion of the Propeny, Buyer may, at its
<br />option, terminate this agreement by wrillen notice to Seller within days after Buyer is advised of the commencement of condemnation
<br />proceedings and the earnest money shall be refunded to Buyer, or Buyer shall have the right to appear and defend in such condemnation pro-
<br />ceedings, and any award in condemnation shall, at the BuyelS election, become the propeny of Seller and reduce the purchase price by the same
<br />amount or shall become rhe propeny of Buyer and the purchase price shall not be reduced.
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<br />22. CASUALTY lDSS: Risk of loss by damage or desrruction to the Property prior to the closing shall be borne by Seller. In the event any such
<br />damage or destruction is not fully repaired prior to closing, Buyer, at its option, may either (i) terminate this Agreement, in which event the
<br />EameS[ Money shall be refunded to Buyer, and neither pany shall have any funher rights or obligations pUlSuant to this Contract, or (ii) elect
<br />to close the transaction, in which event Seller's right to all insurance proceeds resulting from such damage or destrUcrion shall be assigned in
<br />writing by Seller to Buye..
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<br />23. MISCEUANEOUS:
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<br />A. Any notice required or permirted tll be delivered hereunder shall be deemed received when pelSonally deliveled Ot sent by United State
<br />mail, postage prepaid, cenified mail, return receipt requested, addressed to Seller or Purchase., as the case may be, at the address set fonh
<br />below the signature of such pany hereto,
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<br />B. This Contract shall be construed under and in accordance with the laws of the State of Texas, and all obligations of the panies created
<br />heleunder are performable in HalTis County, Texas.
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<br />C. This Contract shall be binding upon and inure to the henefit of the parties hereto and their respective heilS, exeCUtOlS, administtatotS, legal
<br />representatives, successolS, and assigns.
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<br />D. In case anyone or more the provisions contained in this Contract shall for any reason be held to be invalid, illegal, and unenforceable in
<br />any respect, such invalidity, illegality, or unenforceability shall not affect any other provision hereof, and this Contract shall be cOl\5trl'cd
<br />as if such invalid, illegal, or unenforceable provision had never been contained herein.
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<br />E. This Contract constitutes the sole and only agreement of the panies hereto and supelSedes any prior undelStandings or written or oral agreements
<br />between the panies respecting the within subject matter and cannot be changed except by their written consent.
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<br />E Time is of the essence of this Contract.
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<br />G. Words of any gender used in this Contract shall be held and construed to include any other gender, and words in the singular number shall
<br />be held to include the plural, and vice velSa, unless the context requiles otherwise,
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<br />H. In accordance with rhe requirements of the Texas Real Estate License ht, Buyer is hereby advised by Broker: (1) that it should be furnished
<br />with or obtain a policy of title Insurance or have the abstract covering the Propeny examined by any attorney of its own selection, and (2)
<br />that unless otherwise agreed to in writing by the parties hereto, Broker and Co-Broker are being paid by Seller and are representing Seller
<br />in this transaction,
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<br />H. ASSIGNMENT:
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<br />D A. Buyer may not assign this contract.
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<br />DB. Buyer ma\' assign this Contracr and all rights hereunder and shall be relieved of any future liability under this Contract provided the
<br />assignee shall assume in writing all the obligations of Buyer hereunder.
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<br />25, TERMINATION OF OFFER: Unless accepted by Seller, as evidenced by Seller's sign'ature hereto and deliveled to Buyer by 5:00 P,M., the
<br />15th day of ~ri 1 , 19 88 , this offer to purchase shall be null and void and all panies hereto shall stand
<br />relieved and release4 of any ana all liability or obligations hereunder and all Earnest Money shall be returned to Buyer. ,
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<br />26. CONSULT YOUR ATTORNEY: This is inrended to be a legally binding contract. READ IT CAREFULLY. NO REPRESENTATION OR
<br />RECOMMENDA110N IS MADE BY BROKER OR ITS AGENTS OR EMPLOYEES AS TO THE LEGAL SUFFICIENCY. LEGAL EFFECT.
<br />OR TAX CONSEQUENCES OF THIS DOCUMENT OR THE TRANSACTION RELATING THERETO. THESE ARE QUESTIONS
<br />FOR YOUR ATTORNEY. CONSULT YOUR ATTORNEY BEFORE SIGNING. The Broker cannot give you legal advice - only factual
<br />and business details concerning land and improvements.
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