O-2009-3130 earnest money contract/purchase former Happy Harbor Nursing Home property 1106 Bayshore Drive

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Commercial Unimproved Contract Concerning 1106 Bayshore Drive, La Porte, TX (2) The survey required under Paragraph 6B(1) must be made by a Registered Professional Land Surveyor acceptable to the title company. The survey must: (a) idenllfy the Property by metes and bounds or plaited lot description; (b) show that the survey was made and staked on the ground with comers permanently marked; (c) set lorth the dimensions and total area of the Property; (d) show the location 01 all improvements. highways, streets. roads, railroads, rivers, creeks or other waterways. lences, easements. and rights-ol-way on the Property wllh all easements and rights-ol-way relerenced to their recording information; (e) show any discrepancies or connlctS in boundaries, any visible encroachments, and any portion 01 the Property lying within the 100-year nood plain as shown on the current Federal Emergency Management Agency map; and (f) contain the surveyor's certificate that the survey is true and correct. C. Buver's Obiectlons 10 the Commitment and Survey: (1) Within 2..Q.... days after Buyer receives all of the items required in Paragraphs SA and 6B (the commitment. copies 01 the documents evidencing the title exceptions. and survey), Buyer may object in writing to matters disclosed in the items il: (a) the mailers disclosed constitute a delect or encumbrance to tille other than those permitted by this contract or liens that Seller will satisfy at closing or Buyer will assume at closing; or (b) the items show that any part of the Property lies in a 100-year flood plain. (2) Seller may, but is not obligated la, cure Buyer's timely objections within 20 days alter Selier receives the objections. The closing date will be extended as necessary to cure the objections. II Seller [ails to cure the objections by the time required, Buyer may terminate this contract by providing written notice to Seller within 5 days aller the time by which Seller must cure the Objections. If Buyer terminates.. the eamest money, less the independent consideration paid for Buyer's righlto lerminale under Paragraph 78(3), will be refunded to Buyer. (3) Buyer's failure to timely object or terminate under this Paragraph 6C is a waiver of Buyer's right to object except thai Buyer will not waive the requirements. In Schedule C 01 the commllment. 7. PROPERTY CONDITION: (Check A or B only.) ~ A. Present Condition: (Check (1) or (2) only.) D (1) Buyer accepts the Property in its present 'as-is. condition. [X (2) Buyer accepts tre propt...rtv In.its presqpt ypnclltion except that Seller, at Seller's expense. will complete the following b~o~~o~n~ See B~n1b1t A attached hereto and made a Dart hereof. ~ B. Feasibilitv Period and Riohlto Terminale: (1) Delivery 01 Prooertv Information: Within 1 0 days after the eflective date. Seller will deliver to Buyer the following items to the extent that the ilems are in SeUer's possession or are readily available to Seller. Any item not delivered is deemed not to be In Seller's possession or readily avanable to SeUer. The items Seller will deliver are: (a) copies of all current leases pertaining to the Property, including any modifications, supplements. or amendments to the leases; (b) copies of all notes and deeds of trust againstlhe Property that Buyer will assume or that Seller will not pay in full on or before closing; (c) copies of all previous environmental assessments. studies, or analyses made on or relating to the Property; (d) property tax statements for lhe Property lor the previous 2 calendar years; and (e) (2) Inspections. Studies. or Assessments: (a) Within 30 days Ufer the effective date. Buyer, at Buyer's expense, may complete or cause to be completed inspections, studies. or assessments of the Property. Inspections. studies, or assessments may include, but are not limited to: (I) physical property Inspections; (IQ economic feasibility studies; (iii) environmental assessments; and (Iv) engineering sludies. *subject to the provisions of Exhibit "A" attached hereto. Initialed for identifICation by BUyerC2a.... _ and selle,gt'S._ (TAR-1B02) 11.5-99 TAR. P.O. BOX224~~. TX 78768-2246 Page 3 01 9