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<br />.- <br /> <br />Commercial Unimproved Contract Concerning <br /> <br />1106 Bayshore Drive, ~a Porte, TX <br /> <br />, .: . (5) any advance sums paid by a tenant under the lease; ,. .j. .1 <br />(6) any concessions, bonuses, (ree rents, rebates, brokerage commissions. or olher mallers that allecl any lease; and <br />(7) any amounts payable under the leases that have been assigned or encumbered, except as security lor 10an(lI) assumed <br />or taken subject to under this contract. <br /> <br />19. NOTICES: All notices between the parties under this contract must be in writing and are elfective when hand-delivered, mailed by <br />certified mail return receipt requested, or sent by facsimile transmission to: <br /> <br />Buyer at Knox W. Askins <br />P.o. BOX 1218 <br /> <br />~R Pi~ief IX 77572-"1A <br />Phone 1 . . 8 6 Phone <br />F~ 281.471.2047 Fax <br /> <br />20. ~no'!hlL fAJ?~~:O/rge'1\ir~8.r-ro~gn person" as defined by applicable law, or if Seller (ails to deliver at closing <br />an affidavit that Seller Is not a loreign person, then Buyer will withhold from the sales proceeds at closing any amount sullicient to <br />comply with applicable w law and deliver the amount withheld to the tntemal Revenue Service (IRS), together with appropriate lax <br />forms. IRS regulations requite filing wrillen reports if cash In excess of specified amo!Jnls is received In the transaction. <br /> <br />Seller at <br /> <br />Brad stewart <br />The ~ldersqate Trust <br />2202 Timberloch pl.. step <br />S~rinq, ~x 77~AO-1177 <br /> <br />~8l:~~~:el~8 _ <br /> <br />200 <br /> <br />21. DISPUTE RESOLUTION: The parties agree to negoUate il'! goo~ faith in an effort to resolve any dispute related to this contract <br />that may arise. If the dispute caMot be resolved by negotiation, the parties will submit the dispute to mediation before resorting to <br />arbitration or litigation and wRl equally share the costs of a mutually acceptable mediator. <br /> <br />22. AGREEMENT OF THE PARTIES: <br /> <br />A. This contract is binding on the parties, their heirs, executors, representatives, successors, and permitled assigns. <br />B. This contrad is to be construed in accordance with the laws of the Slate of Texas. <br />C. . . This contract contains the entire agreement 'of the parties and may nol be changed except by. writlen agreement <br />D. If 'this conlract is executed in a number of identical counterparts, eac~ counterpart Is an original and-all counlerparts, <br />eellectively; constitule one agreement. <br /> <br />E: Buyer 0 may Oanay not assign this contract. If Buyer assigns this contract, Buyer will be relieved or. any future liability <br />. . UT:lder this contracl only if the assignee assumes, in writing, all obligations and Iiabifity of Buyer under this cOT-ltract. <br />... <br /> <br />F. A'Odenda which are part of this contract are: (Check an that apply.) <br /> <br />o (1) Property Descriplion Exhibit identified In Paragraph 2; <br />o (2) Rnancing Addendum; <br />o (3) Commercial Property Condltlon ,statement; <br />o (4) Notice to Purchaser of Real Property in a Water Dislrict; <br />:>gc (5) Addendum lor Coastal Area Property; <br />o (6) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway; and <br />JOe (7) Exhibit "A" <br /> <br />23. TIME: TIme Is of the essence In this contract. The parties require strict compliance with the times for performance. If the last day <br />to perform under a provision of this contract falls on a Saturday, Sunday, or legal holiday, the lime for performance is extended <br />until the next day which Is not a Salurday, Sunday, or legal h06day. <br /> <br />24. EFFECTIVE DATE: The effective date of this contract lor the purpose of performance of all obligations is the date the escrow <br />agent receipts this contract after all parties execute this contract <br /> <br />25. ADDmONAL NOTICES: <br /> <br />A. Buyer should have an abstract covering the Property examined by an attorney of Buyer's selection. or Buyer should be <br />fumlshed with or obtain a Iille pancy. <br /> <br />B. If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or lIood control <br />lacUities and services. Chapter 49, Texas Water Code, requires Seller to deliver and Buyer to sign the statutory notice relating <br />to the tlpC rate, bonded indebtedness, or standby lees of the district before linal execution of this contract. <br /> <br />(TAR.1802) 11-5-99 <br /> <br />"''''..,,, IdontiflcO!o, by """'() ~ '"" ......6:f5._ <br />TAR, P.O. BoX22~~\;:t-8768-2246 <br /> <br />Page 8 of 9 <br />