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<br />- <br /> <br />~~ <br /> <br />TEXAS ASSOCIATION OF REALTORS" <br />UNIMPROVED PROPERTY COMMERCIAL CONTRACT <br /> <br />USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REAL TOR~ IS NOT AUTHORIZED. <br />or.... As.oclallon 01 REALTORSGIl, Inc. 1999 <br /> <br />1. PARTIES: J W 0 Campbell <br />(Seller) agrees to sell and convey to Ci tv of 'La. Porte, <br />a municipal corporation (Buyer) and Buyer agrees to buy from Seller the Property described below. <br /> <br />2. PROPERTY: <br /> <br />A. The property sold by this contract is called the "Property." The Property is that real property situated in the City <br />of 'La Porte, Harris C~~~TD~~ 125 South 3rd Street, 'La Porte, <br />Texas 77571 (address) that is legally described as follows: (Identify exhibit jf described by attachment.) <br /> <br />Lot 16 and the South 15 feet of Lot 15, <br />Block 39, Town of 'La Porte, Harris County, <br />Texas. <br /> <br />B. The Property is sold together with: <br />(1) all rights, privileges, and appurtenances pertaining to the Property, including Seller's right, title, and interest in any <br />minerals, utilities, adjacent streets, alleys, strips, gores, and rights-of-way; <br />(2) Seller's interest in all leases, rents, and security deposits for all or part of the Property; and <br />(3) Seller's interest in all licenses and permits related to the Property. <br /> <br />(Describe any exceptions, reservations, or restrictions in Paragraph 11 or an 'tddendum.) <br /> <br />3. SALES PRICE: <br /> <br />A. At or before closing, Buyer will pay the following sales price for the Property: <br />(1) Cash portion payable by Buyer at closing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 4 2 , 50 0 . 00 <br /> <br />(2) Sum of all financing described in Paragraph 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ <br /> <br />(3) Sales price (sum of 3A(1) and 3A(2}) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 42 , 500 . 00 <br /> <br />B. Adiustment to Sales Price: (Check (1) or (2) only.) <br /> <br />t9 (1) The sales price will not be adjus:ed based on a survey. <br /> <br />o (2) The sales price will be adjusted based on the latest survey obtained under Paragraph 6B. <br /> <br />(a) The sales price is calculated on the basis of $ <br />o (i) square foot of 0 total area 0 net area. <br />o (Ii) acre of 0 total area 0 net area. <br /> <br />per: <br /> <br />(b) "Total area" means all land area within the perimeter boundaries of the Property. "Net area" means total area less any <br />area of the Property within: <br />o (i) public roadways; <br />o (ii) rights-of-way and easements other than those that directly provide utility services to the Property; and <br />o (iii) <br /> <br />( " <br />? <br /> <br />Initialed for Identification by Buyer _._and Seller _,_ <br />TAR, P.O. Box 2246, Austin, TX 78768-2246 <br /> <br />Page 1 of 9 <br /> <br />(TAR-1802) 11-5-99 <br />