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<br />Draft 4-24-03 <br /> <br />(3) <br /> <br />Possession of the Easements; and <br /> <br />(4) <br /> <br />All other documents reasonably required by the Title Company or the Buyer <br />to carry out the terms of this Contract. <br /> <br />B. <br /> <br />At the closing, the Buyer will deliver to the Seller: <br /> <br />(1) <br /> <br />The Sales Price (less the Earnest Money) in the fonn of a check, and, <br /> <br />(2) <br /> <br />Any document reasonably required by the Title Company or the Seller to <br />carry out the tenns of this Contract. <br /> <br />C. <br /> <br />The costs for curing title matters, the title insurance premium, and all other costs and <br />expenses to be paid by the Seller under this Contract will be the Seller's obligations. <br />The Seller and the Buyer will each pay one-half of the escrow fee charged by the <br />Title Company. The Buyer will pay all costs identified in this Contract to be the <br />Buyer's obligations. <br /> <br />8. <br /> <br />DEFAULT. If the Buyer fails to comply with its obligation to purchase the Easements, the <br />Seller may either enforce specific performance of this Contract, to the exclusion of its other <br />remedies, or the Seller may terminate this Contract and receive the Earnest Money as <br />liquidated damages. If the Seller fails to comply with its obligation to sell the Easements, <br />the Buyer may terminate this ContTact and receive the Earnest Money, thereby releasing the <br />Seller from this Contract, or the Buyer may enforce specific performance of this Contract, <br />to the. exclusion of its other remedies. <br /> <br />9. <br /> <br />NOTICES. Except as otherwise expressly provided in this Contract, any notice or <br />communication under this Contract will be deemed to be delivered, whetller actually received <br />or not, when either hand delivered, or deposited in the United States mail, postage fully <br />prepaid, registered or certified mail, and addressed to the intended recipient at the address <br />set forth below: <br /> <br />Buyer: <br /> <br />City Manager <br />City of San Marcos <br />630 East Hopkins <br />San Marcos, TX 78666 <br /> <br />Seller: <br />Vernon Lemens <br />1509 Guadalupe St. <br />Austin, TX 78701-1608 <br /> <br />Notice sent in any other way will be deemed delivered when and if actually received. A party <br />that changes its address will give prompt written notice ofthe change to the other party. <br /> <br />3 <br />