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<br />'""'" <br /> <br />Commercial Unimproved Contract Concerning <br /> <br />125 South 3rd Street, La Porte, Texas <br /> <br />,(5) any advance sums paid by a tenant under the lease; <br />(6) any concessions, bonuses, free rents, rebates, brokerage commissions, or other matters that affect any lease; and <br />(7) any amounts payable under the leases that have been assigned or encumbered, except as security for loan(s) assumed <br />or taken subject to under this contract. <br /> <br />19. NOTICES: All notices between the parties under this contract must be in writirlg and are effective when hand-delivered, mailed by <br />certified mail return receipt requested, or sent by facsimile transmission 10: <br /> <br />20. <br /> <br />8u~r~ Knox W. Askins <br />P .0. Box 1 ~ 1 tl <br />La portet TX 77512-1218 <br />Phone 281. 471. 8 8 6 ' <br />Fax ~ tll . 4 / I . ~ U 4 / <br />email knoxaskins@comcast.net <br />FEDERAL TAX REQUIREMENT: If Seller is a "foreign person" as defined by applicable law, or if Seller fails to deliver at closing <br />an affidavit that Seller is not a foreign person, then Buyer will withhold from the sales proceeds at closing any amount sufficient to <br />comply with applicable tax law and deliver the amount withheld to the Internal Revenue Service (IRS), together with appropriate tax <br />forms. IRS regulations require filing written reports if cash in excess of specified amounts is received in the transaction. <br /> <br />Seller at <br /> <br />J W 0 Campbell <br />535 Ba~shore 9'~Vf <br />La Pore, TX 7 <br /><6 J '1.-- <2(" /e. ~1/ <br /> <br />Phone <br />Fax <br /> <br />21. DISPUTE RESOLUTION: The parties agree 10 negotiate in good faith in an effort to resolve any dispute related to this contract <br />that may arise. If the dispute cannot be resolved by negotiation, the parties will submit the dispute to mediation before resorting to <br />arbitration or litigation and will 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 permitted assigns. <br /> <br />B. This contract is to be construed in accordance with the laws of the State of Texas. <br /> <br />C. This contract contains the entire agreement of the parties and may not be changed except by written agreement. <br /> <br />D. If -this contract is executed in a number of identical counterparts, each counterpart is an original and: all counterparts, <br />collectively; constitute one agreement. <br /> <br />E. Buyer 0 may 0 may not assign this contract. If Buyer assigns this contract, Buyer will be relieved of any future liability <br />under this contract only if the assignee assumes, in writing, all obligations and liability of Buyer under this contract. <br />". <br /> <br />F. Addenda which are part of this contract are: (Check all that apply.) <br /> <br />[J (1) Property Description Exhibit identified in Paragraph 2; <br />o (2) Financing Addendum; <br />o (3) Commercial Property Condition Slatement; <br />o (4) Notice to Purchaser of Real Property in a Water District; <br />o (5) Addendum for Coastal Area Property; <br />o (6) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway; and <br />o (7) <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 time for performance is extended <br />until the next day which is not a Saturday, Sunday, or legal holiday. <br /> <br />24. EFFECTIVE DATE: The effective date of this contract for 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. ADDITIONAL 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 />furnished with or obtain a title policy. <br /> <br />B. If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control <br />facilities and services, Chapter 49, Texas Water Code, requires Seller to deliver and Buyer to sign the statutory notice relating <br />to the tax rate, bonded indebtedness, or standby fees of the district before final execution of this contract. <br /> <br />(T AA-1802) 11-5-99 <br /> <br />Initialed for Identification by Buyer _. _ and Seller _'_ <br />TAR, P.O. Box 2246, Austin, TX 78768-2246 <br /> <br />Page 8 of 9 <br />