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<br />Commercial Contract - Improved Property concerning 1402 West Hopkins Street, San Marcos <br /> <br />B. This contract is to be construed in accordance with the laws of the State of Texas. <br /> <br />C. This contract contains the entire agreement of the parties and may not be changed except in writing. <br /> <br />D. If this contract is executed in a number of identical counterparts, each counterpart is an original and all <br />counterparts, collectively, constitute one agreement. <br /> <br />E. Buyer 0 may IXI may not assign this contract. If Buyer assigns this contract, Buyer will be relieved of <br />any future liability under this contract only if the assignee assumes, in writing, all of Buyer's obligations <br />under this contract. <br /> <br />F. Addenda which are part of this contract are: (Check all that apply.) <br /> <br />o (1) Property Description Exhibit identified in Paragraph 2; <br />o (2) Condominium Addendum; <br />o (3) Financing Addendum; <br />o (4) Commercial Property Condition Statement; <br />o (5) Addendum for Seller's Disclosure of Information on Lead-Based Paint and Lead-Based Paint <br />Hazards; <br />o (6) Notice to Purchaser of Real Property in a Water District (MUD); <br />o (7) Addendum for Coastal Area Property; <br />o (8) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway; and <br />o (9) <br /> <br />(Note: Counsel for the Texas Association of REAL TORS® (TAR) has determined that any of the foregoing addendum which <br />are promulgated by the Texas Real Estate Commission (TREC) or published by TAR are appropriate for use with this form.) <br /> <br />23. TIME: Time is of the essence in this contract. The parties require strict compliance with the times for <br />performance. If the last day to perform under a provision of this contract falls on a Saturday, Sunday, or <br />legal holiday, the time for performance is extended until the end of the next day which is not a Saturday, <br />Sunday, or legal holiday. <br /> <br />"'''I-. EFFECTIVE DATE: The effective date of this contract for the purpose of performance of all obligations is <br />the date the escrow agent receipts this contract after all parties execute this contract. <br /> <br />25. ADDITIONAL NOTICES: <br /> <br />A. Buyer should have an abstract covering the Property examined by an attorney of Buyer's selection, or <br />Buyer should be furnished with or obtain a title policy. <br /> <br />B. If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, <br />or flood control facilities and services, Chapter 49, Texas Water Code, requires Seller to deliver and <br />Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fees of the <br />district before final execution of this contract. <br /> <br />C. If the Property adjoins or shares a common boundary with the tidally influenced submerged lands of the <br />state, §33.135, Texas Natural Resources Code, requires a notice regarding coastal area property to be <br />included as part of this contract. <br /> <br />D. If the Property is located seaward of the Gulf Intracoastal Waterway, §61.025, Texas Natural Resources <br />Code, requires a notice regarding the seaward location of the Property to be included as part of this <br />contract. <br /> <br />(TAR-1801) 2-6-02 <br /> <br />Initialed for Identification by Buyer -.£fJ--. _ Selle~. S& <br /> <br />Page 12 of 14 <br /> <br />Produced with ZipFonn1M by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035, (800) 383-9805 <br /> <br />T6285880.ZFX <br />