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Res 2017-153/approving a real estate contract to purchase 20.61 acres of land at 2240 Clovis Barker at a purchase price of $2.75 per square foot totaling $2,468,872 plus closing costs and rollback taxes totaling approximately an additional $132,000 for th
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Res 2017-153/approving a real estate contract to purchase 20.61 acres of land at 2240 Clovis Barker at a purchase price of $2.75 per square foot totaling $2,468,872 plus closing costs and rollback taxes totaling approximately an additional $132,000 for th
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3/30/2018 11:06:26 AM
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10/5/2017 9:36:26 AM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2017-153
Date
10/2/2017
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General Wm-ranty Deed <br />IRS Nonforeign Person Affidavit <br />Evidence of Seller's authority to close this transaction <br />Customary closing items as may be requested by the Title Company <br />2. At closing, Buyer will deliver the following items: <br />Evidence of Buyer's authority to consummate this transaction <br />Customary closing items as may be requested by the Title Company <br />The documents listed in this section B are collectively known as the "Closing <br />'Documents." 'Unless otherwise agreed by the parties before closing, the deed will be prepared by <br />Seller's attorney using the forms contained in the current edition of the Texas Real Estate Forms <br />Manual (State Bar of Texas). The deed from Seller, however, shall not include any provisions <br />regarding payment of taxes contrary to the provisions in Section K.2,c, <br />C, Exhibits <br />The following are attached to and are a part of this contract: <br />Exhibit A— Description of the Property <br />Exhibit B— Representations; Environmental Matters <br />Exhibit C— Seller's Records <br />D. Purchase and Sale of Property <br />Seller agrees to sell and convey the Property to Buyer, and Buyer agrees to buy and pay <br />Seller for the Property. The promises by Buyer and Seller stated in this contract are the <br />consideration for the formation of this contract. <br />E. Interest on Earnest Money <br />Buyer may direct Title Company to invest the Earnest Money in an interest-bearing <br />account in a federally -insured financial institution by giving -notice to Title Company and <br />satisfying Title Company's requirements for investing the Earnest Money in an interest-bearing <br />account. Any interest earned on the Earnest Money will be paid to the party that becomes entitled <br />to the Earnest Money. <br />
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