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Res 2018-201/approving a Real Estate sales contract with Life Style Development, L.L.C. for the sale of approximately 29 acres of city land commonly known as the “Leah” Tract near IH-35 and Cottonwood Parkway for a price of $3,114,317.15
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Res 2018-201/approving a Real Estate sales contract with Life Style Development, L.L.C. for the sale of approximately 29 acres of city land commonly known as the “Leah” Tract near IH-35 and Cottonwood Parkway for a price of $3,114,317.15
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11/15/2018 3:25:51 PM
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10/23/2018 3:20:58 PM
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City Clerk - Type
Contract
Number
2018-201
Date
10/16/2018
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Special Warranty Deed with Vendor's Lien <br />IRS Nonforeign Person Affidavit <br />Evidence of Seller's authority to close this transaction <br />A fully executed replat of the Property <br />Customary closing items as may be requested by the Title Company <br />2. At closing, Buyer will deliver the following items: <br />Balance of Purchase [It -ice <br />Evidence of Buyer's authority to close this transaction <br />Loan Documents required by third -party lender <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 Documents." <br />Unless otherwise agreed by the parties before closing, the Closing Documents for which forms <br />exist in the current edition of the Texas Real E'slate Farris Manual (State Bar of Texas) will be <br />prepared using those forms. <br />C. Exhibits <br />The following are attached to and are a part of this contract: <br />Exhibit A—Description of the Land <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 account <br />in a federally insured financial institution by giving notice to Title Company and satisfying Title <br />Company's requirements for investing the Farnest Money in an interest-bearing account. Any <br />interest carried on the Earnest Money will become part of the Earnest Moncy. <br />Title and Survey <br />
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