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<br />Contract Concerning J 14 N oifh & - Sf J ((1 -PrYfe! -& Page 4 of 9 02-13-06 <br />(Address of Property) <br /> <br />G. ENVIRONMENTAL MATTERS: Buyer is advised that the presence of wetlands, toxic substances, <br />including asbestos and wastes or other environmental hazards or the presence of a <br />threatened or endangered species or its habitat may affect Buyer's intended use of the <br />Property. If Buyer is concerned about these matters, an addendum promulgated by TREC or <br />required by the parties should be used. <br />H. SELLER'S DISCLOSURE: Except as otherwise disclosed in this contract, Seller has no <br />knowledge of the following: <br />(1) any flooding of the Property which has had a material adverse effect on the use of the <br />Property ; <br />(2) any pending or threatened litigation, condemnation, or special assessment affecting the <br />Property ; <br />(3) any environmental hazards or conditions materially affecting the Property; <br />(4) any dumpsite, landfill, or underground tanks or containers now or previously located on the <br />Property ; <br />(~any wetlands, as defined by federal or state law or regulation, affecting the Property; or <br />(6 any threatened or endangered species or their habitat affecting the Property. <br />1. R SIDENTIAL SERVICE CONTRACTS: Buyer may purchase a residential service contract from a <br />residential service company licensed by TREC. If Buyer purchases a residential service <br />contract, Seller shall reimburse Buyer at closing for the cost of the residential service contract <br />in an amount not exceeding $ . Buyer should review any residential <br />service contract for the scope of covera~e, exclusions and limitations. The purchase <br />of a residential service contract is optional. Similar coverage may be purchased from <br />various companies authorized to do business in Texas. <br /> <br />8. BROKERS' FEES: All obligations of the parties for payment of brokers' fees are contained in separate <br />written agreements. <br /> <br />9. CLOSING: " <br />A. The closing of the sale will be on or before f11A~u.S+ I ~ , 20_, or within 7 days <br />after objections made under Paragraph 60 have been cured or waived, whichever date is later <br />(Closing Date). If either party fails to close the sale by the Closing Date, the non-defaulting <br />party may exercise the remedies contained in Paragraph 15. <br />B. At closing: <br />(l)Seller shall execute and deliver a general warranty deed conveying title to the Property to <br />Buyer and showing no additional exceptions to those permitted in Paragraph 6 and furnish <br />tax statements or certificates showing no delinquent taxes on the Property. <br />(2)Buyer shall pay the Sales Price in good funds acceptable to the escrow agent. <br />(3)Seller and Buyer shall execute and deliver any notices, statements, certificates, affidavits, <br />releases, loan documents and other documents required of them by this contract, the <br />Commitment or law necessary for the closing of the sale and the issuance of the Title <br />Policy. <br />e. Unless expressly prohibited by written agreement, Seller may continue to show the Property <br />and receive, negotiate and accept back up offers. <br />D. All covenants, representations and warranties in this contract survive closing. <br /> <br />10. POSSESSION: Seller shall deliver to Buy~ possession of the PropertY. in its present or required <br />condition, ordinary wear and tear excepted: U upon closing and funding a according to a temporary <br />residential lease form promulgated by TREC or other written lease required by the parties. Any <br />possession by Buyer prior to dosing or by Seller after closing which is not authorized by a written <br />lease will establish a tenancy at sufferance relationship between the parties. Consult your <br />insurance a~ent prior to change of ownership and possession because insurance coverage <br />may be limited or terminated. The absence of a written lease or appropriate insurance <br />coverage may expose the parties to economic loss. <br /> <br />11. SPECIAL PROVISIONS: (Insert only factual statements and business details applicable to the <br />sale. TREC rules prohibit licensees from adding factual statements or business details for which a <br />contract addendum, lease or other form has been promulgated by TREC for mandatory use.) <br /> <br />Initialed for identification by Buye <br /> <br /> <br /> <br />TREC NO. 24-6 <br /> <br />and Seller <br />