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DocuSign Envelope ID: FCFB5B9B-662A-46BI-A201-B13B1DCB07EA <br />Commercial Contract - Unimproved Property concerning W Main, La Porte, Tx ZZ511". <br />C. At closing, Seller will execute and deliver, at Seller's expense, a rx] general []special warranty deed. <br />The deed must include a vendor's lien if any part of the sales price is financed. The deed must convey <br />good and indefeasible title to the Property and show no exceptions other than those permitted under <br />Paragraph 6 or other provisions of this contract. Seller must convey the Property: <br />(1) with no liens, assessments, or other security interests against the Property which will not be <br />satisfied out of the sales price, unless securing loans Buyer assumes; <br />(2) without any assumed loans in default; and <br />(3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or <br />trespassers except tenants under the written leases assigned to Buyer under this contract. <br />D. At closing, Seller, at Seller's expense, will also deliver to Buyer: <br />(1) tax statements showing no delinquent taxes on the Property; <br />(2) an assignment of all leases to or on the Property; <br />(3) to the extent assignable, an assignment to Buyer of any licenses and permits related to the <br />Property; <br />(4) evidence that the person executing this contract is legally capable and authorized to bind Seller; <br />(5) an affidavit acceptable to the title company stating that Seller is not a foreign person or, if Seller is <br />a foreign person, a written authorization for the title company to: (I) withhold from Seller's proceeds <br />an amount sufficient to comply with applicable tax law; and (ii) deliver the amount to the Internal <br />Revenue Service (IRS) together with appropriate tax forms; and <br />(6) any notices, statements, certificates, affidavits, releases, and other documents required by this <br />contract, the commitment, or law necessary for the closing of the sale and issuance of the title <br />policy, all of which must be completed by Seller as necessary. <br />E. At closing, Buyer will: <br />(1) pay the sales price in good funds acceptable to the title company; <br />(2) deliver evidence that the person executing this contract is legally capable and authorized to bind <br />Buyer, <br />(3) sign and send to each tenant in a lease for any part of the Property a written statement that: <br />(a) acknowledges Buyer has received and Is responsible for the tenant's security deposit; and <br />(b) specifies the exact dollar amount of the security deposit; <br />(4) sign an assumption of all leases then in effect; and <br />(5) execute and deliver any notices, statements, certificates, or other documents required by this <br />contract or law necessary to close the sale, <br />F, Unless the parties agree otherwise, the closing documents will be as found in the basic forms in the <br />current edition of the State Bar of Texas Real Estate Forms Manual without any additional clauses. <br />11. POSSESSION: Seller will deliver possession of the Property to Buyer upon closing and funding of this sale <br />in its present condition with any repairs Seller is obligated to complete under this contract, ordinary wear <br />and tear excepted. Any possession by Buyer before closing or by Seller after closing that is not authorized <br />by a separate written lease agreement is a landlord -tenant at sufferance relationship between the parties. <br />12. SPECIAL PROVISIONS: The following special provisions apply and will control in the event of a conflict <br />with other provisions of this contract. (If special provisions are contained in an Addendum, identify the <br />Addendum here and reference the Addendum in Paragraph 22D.) <br />See Exhibit "A" <br />DS DS <br />(TXR-1 802) 07-08-22 Initialed for Identification by Page 8 of 15 <br />N1.1. I W S Ind St L. Part. TX 71611 Phone: 932-279,5674 Fax: 281A71.8231 W Matu Ln Pork <br />Rosa Maria Williams Produced with Lone Wotf Transactions (ApForni Edition) 717 N Harwood Si, Suite 2200, Dallas,'TX 76201 iwmjwolLcon <br />