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<br />~ <br /> <br />-:". <br /> <br />. <br /> <br />. <br /> <br />Attachment 3 <br /> <br />Property Owners Contract <br />for the <br />Value Assurance Program <br /> <br />Legal Description of the property: <br /> <br />CONTRACT SALES PRICE: ALL CASH, $ <br /> <br />("Sales Price") <br /> <br />The Port Authority agrees to purchase the above-de~cribed property at the request of the <br />property .owner at any time dLWng, .the V wu,e Assurance frogIam for the Barbours Cut <br />Termirial ;Truck Entry Station as set out in the Amended Resolution of the Port Authority <br />dated July 28, 2003, at the agreed-upon sales price referenced above, <br /> <br />The Port Authority agrees to purchase the property at the agreed sales price on an "as is" <br />basis as of the time of the appraisal (for improved property) less normal wear and tear <br />and. for both improved and unimproved property, the seller is the fee title owner of the <br />property and able to convey the property to the Port Authority free and clear of all liens <br />and other encumbrances, A standard Texas Real Estate Commission Contract will be <br />used for any purchase, modified as necessary for use by a political subdivision of the <br />State of Texas. <br /> <br />The Port Authority agrees to notify the property owner at intervals of 90 days, 60 days <br />and 30 days prior to the expiration of this contract. <br /> <br />Property Owner of Record <br /> <br />Date <br /> <br />Executive Director <br />Port of Houston Authority <br /> <br />Date. <br /> <br />C: City of LaPorte, Texas <br />