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

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~1Y. - 1106 Bayshore Drive, La porte, TX Commercial Unimproved Contract Conceming B. At closing, Saller will. dellwr, at Sellers-expense, a ~ general Q special warranty deed. :m-lil(1Jeed must include a vendor's lien II any part of the sales price is financed. The deed must convey good and indefeasible UlIe 10 the Property and show no exceptions other than those permitted under Paragraph e or other provisions 01 Ihis contract. Seller must convey the Property at closing: (1) with no liens, assessments. or other security interests against the Property which will not be satisfied out of the sales price unless securing loans Buyer assumes; (2) without any assumed loans in default; and (3) with no persons In possession of any part of the Property as lessees, tenants at sufferance, or trespassers except tenants under the writlen leases assigned to Buyer under this conlract. C. At cioslng, SeUer, al Seller's expense, will also deliver: (1) tax statements showing no delinquent \aXes on the Property; (2) an asslgnment of all leases to or on. the Property; . (3) to the extent assfgnable. an assignment to Buyer of any licenses and permits related to the Property; (4) evidence that the person executing this cont[act is legally capable and authorized to bind Seller, and (5) any notices, statements, cert!fieates, or olher documents required by Ihis conlract or iaw necessary to convey the Property, all of which must be completed by Seller as necessary. D. AI closing, BuyerwiU: (1) pay the sales price in good funds acceptable to the escrow agent; (2) deliver'evldence that the person executing thIs contract is legally capable and au1horized 10 bind Buyer; and (3) execute and deliver any notices, statements, certificates, or ottier documents required by Ihis contract or law necessary to dose the sale. E. Unless Ihe parties agree otherwise, Ihe closing documenls Will be as found in lhe basic forms In the current,ediUon of the Slate Bar of Texas Real Estate Forms Manual without any addillonal clauses. 10. POSSESStON: Seller will deliver possession of the Property to Buyer on upon c 105 i ng , In its present or required repaired cendiUon, ordinary wear and tear excepted. UntD closing'.\Seller will operate the'P.roperty in the same manner as on the erreCtivedale. Any possession by Buyer befor~ closing or by Seller.'afler closing thai is nol atJthorlzed by a separa1e written lease agreement is a landlord-lenant at sufferance relationship between the-partles. 11. SPECIAL PROVISJONS~ (Identify exhibit if special provisions are contained In an attachment.) See Ex.hibit "A" attached hereto, incorporated by reference herein and made a part hereof for all~purposes. (TAR-1802) 11-5-99 Initialed for ldenUrica1lon by Buyer Oa.- and Seller 1~ ti~_ TAR, P.O. BoX2246~rf.Ix7B768-2246 Page 50f9