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<br />EARNEST MONEY CONTRACT <br /> <br />STATE OF TEXAS s <br />s <br />COUNTY OF HARRIS s <br /> <br />1. PARTIES: MARIA MARRERO, Individually and as Independent Executrix of the <br />Estate of MARIO MARRERO, Deceased, (Seller) agrees to sell and convey to <br />CITY OF LA PORTE, a municipal corporation (Buyer), and Buyer agrees to buy <br />from Seller the following described property situated in Harris County, Texas. <br /> <br />2. PROPERTY: The properties which are the subject of this contract is legally <br />described as follows, to-wit: <br /> <br />Known as +/- 23,520 square foot fee strip out of 223,242.83 square foot <br />tract of land out of Outlots 327 and 334 of the Town of La Porte, Harris <br />County, Texas, and being more particularly described by metes and bounds <br />on Exhibit "A" attached hereto, incorporated by reference herein and made <br />a part hereof for all purposes; and further described as Tract 1 (A) and (C- <br />Taking), Tract 2(B), and the narrow strip +/- 20 feet x 581 feet for ingress <br />and egress from North uP" Street as hi-Iited and shown on the Map-Exhibit <br />"B", attached hereto and incorporated by reference herein and made a part <br />hereof for all purposes. <br /> <br />3. CONTRACT SALES PRICE: $ 83,000.00 <br /> <br />4. EARNEST MONEY: $500.00 earnest money shall be deposited by Buyer with <br />American Title Company, Deer Park, Texas, which shall apply to the sales price. <br /> <br />5. SURVEY: Survey to be furnished by City of La Porte. <br /> <br />6. TITLE POLICY: American Title Company, Deer Park, Texas. <br /> <br />7. BROKER'S FEE: No broker. <br /> <br />8. CLOSING: The closing of the sale shall be on or before , <br />2005, or within seven (7) days after objections to title have been cured, whichever <br />date is later. If there are any liens against the property, Seller must furnish <br />releases or partial releases of lien, as required by Buyer and the title company. <br /> <br />9. POSSESSION: The possession of the Property shall be delivered to Buyer at <br />Closing. <br /> <br />10. CLOSING COSTS: All closing costs shall be paid by City of La Porte. <br /> <br />1 <br />