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/*\ PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) 11-10-2020
<br />TREC FARM AND RANCH CONTRACT
<br />LEI
<br />EpWINp°SIN°
<br />1. PARTIES: The parties to this contract are QCCC LTD
<br />(Seller) and City of San Marcos (Buyer). Seller agrees to
<br />sell and convey to Buyer and Buyer agrees to buy from Seller the Property defined below,
<br />2. PROPERTY: The land, improvements, accessories and crops except for the exclusions and
<br />reservations, are collectively referred to as the Property (Property).
<br />A. LAND: The land situated in the County of Hays Texas,
<br />described as follows: 176,5 +/- acres Hays County (See Exhibit A)
<br />or as described on attached exhibit, also known as 2701 SH 21 San Marcos TX 78666
<br />(address/zip code), together with all rights, privileges, and appurtenances pertaining thereto,
<br />including but not limited to: water rights, claims, permits, strips and gores, easements, and
<br />cooperative or association memberships.
<br />B. IMPROVEMENTS:
<br />(1) FARM and RANCH IMPROVEMENTS: The following permanently installed and built-in items,
<br />if any: windmills, tanks, barns, pens, fences, gates, sheds, outbuildings, and corrals.
<br />(2) RESIDENTIAL IMPROVEMENTS: The house, garage, and all other fixtures and improvements
<br />attached to the above-described real property, including without limitation, the following
<br />permanently installed and built-in items, if any: all equipment and appliances,
<br />valances, screens, shutters, awnings, wall-to-wall carpeting, mirrors, ceiling fans, attic fans,
<br />mail boxes, television antennas, mounts and brackets for televisions and speakers, heating
<br />and air-conditioning units, security and fire detection equipment, wiring, plumbing and
<br />lighting fixtures, chandeliers, water softener system, kitchen equipment, garage door
<br />openers, cleaning equipment, shrubbery, landscaping, outdoor cooking equipment, and all
<br />other property attached to the above described real property.
<br />C. ACCESSORIES:
<br />(1) FARM AND RANCH ACCESSORIES: The following described related accessories: (check boxes
<br />of conveyed accessories) ❑ portable buildings ❑ hunting blinds ❑ game feeders
<br />❑ livestock feeders and troughsNates
<br />rigation equipment E] fuel tanks [g submersible
<br />Pumps ❑X pressure tanks ❑ corrals ❑ chutes ❑ other:
<br />(2) RESIDENTIAL ACCESSORIES: The following described related accessories, if any: window air
<br />conditioning units, stove, fireplace screens, curtains and rods, blinds, window shades,
<br />draperies and rods, door keys, mailbox keys; above ground pool, swimming pool equipment
<br />and maintenance accessories, artificial fireplace logs, security systems that are not fixtures,
<br />and controls for: (i) garage doors, (ii) entry gates, and (iii) other improvements and
<br />accessories. "Controls" includes Seller's transferable rights to the (i) software and
<br />applications used to access and control improvements or accessories, and (ii) hardware used
<br />solely to control improvements or accessories.
<br />D. CROPS: Unless otherwise agreed in writing, Seller has the right to harvest all growing crops
<br />until delivery of possession of the Property.
<br />E. EXCLUSIONS: The following improvements, accessories, and crops will be retained by Seller
<br />and must be removed prior to delivery of possession:
<br />F. RESERVATIONS: Any reservation for oil, gas, or other minerals, water, timber, or other interests
<br />is made in accordance with an attached addendum.
<br />3. SALES PRICE:
<br />A. Cash portion of Sales Price payable by Buyer at closing ................ $ 8,500,000.00
<br />B. Sum of all financing described in the attached: []Third Party Financing Addendum,
<br />❑ Loan Assumption Addendum, ❑ Seiler Financing Addendum.......... $
<br />C. Sales Price (Sum of A and B .. .................................. $ 8,600,000.00
<br />D. The Sales Price ❑will awill not be adjusted based on the survey required by Paragraph 6C.
<br />If the Sales Price is adjusted, the Sales Price will be calculated on the basis of $
<br />per acre. If the Sales Price is adjusted by more than 10%, either party may terminate this
<br />contract by providing written notice to the other party within days after the
<br />terminating party receives the survey, If neither party terminates this contract or if the
<br />variance is 10% or less, the adjustment will be made to the amount in ❑ 3A ❑ 3B
<br />❑ proportionately to 3A and 3B.
<br />4. LEASES Except as disclosed in this contract, Seller is not aware of any leases affecting
<br />the Property. After the Effective Date, Seller may not, without Buyer's written consent, create a
<br />new lease, amend any existing lease, or convey any interest in the Property. (Check all applicable
<br />boxes)
<br />❑ A. RESIDENTIAL LEASES: The Property is subject to one or more residential leases and the
<br />Addendum Regarding Residential Leases is attached to this contract.
<br />❑ B. FIXTURE LEASES: Fixtures on the Property are subject to one or more fixture leases (for
<br />example, solar panels, propane tanks, water softener, security system) and the Addendum
<br />Regarding Fixture Leases is attached to this contract.
<br />❑ C. NATURAL RESOURCE LEASES: "Natural Resource Lease" means an existing oil and gas, mineral,
<br />water, wind, or other natural resource lease affecting the Property to which Seller is a party.
<br />TXR 1701 Initialed for identification by Buyer and Seller TREC NO, 25-13
<br />Form, L 25-6 TR 063008 Phone; n/a Fax: QCCC LTD
<br />JeffW11100 Produced with Lone Wolf Transactions (zipForm Edition) 231 Shearson Cr. Cambridge, Ontario, Canada N1T 1,15 www.lwolf.com
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