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<br />182. <br /> <br />. <br /> <br />TExAs ASSOCIATION OF REALTORS@ <br /> <br />UNIMPROVED PROPERTY COMMERCIAL CONTRACT <br />USE OF THIS FORM BY PERSONS \M40 ARE NOT MEM~S OF THE TEXAS ASSOCIATION OF REAL TORSElIS NOT AUTHORIZED. <br />MeusA_cIIdIoI ofR\iALT~M.Inc.1'" <br /> <br />1. PARTIES: <br /> <br />Terrand. Ltd <br />(Seller) agrees to sell and convey to Ci tv of San Marcos <br />(Buyer) and Buyer agrees to buy from Seller the Property described below. <br /> <br />2. PROPERTY: <br /> <br />A. The property so~d by this contract is called the "Property." The Property is that real property situated in Havs <br />County, Texas at 33.34 acres <br />(address) that is legally described as follows: (Identffy exhibit if described by attachment.) <br /> <br />+- 33.34 acres IT. J. ChlU1lbers survey, City of San Marcos <br /> <br />B. The Property is sold together with: <br />(1) all rights, privileges, and appurtenances pertaining to the Property, including Seller's right, title, and interest in any <br />minerals, utilities. adjacent streets, alleys, strips, gores, and rights-of~way; <br />(2) Seller's interest in all leases, rents, and security deposits for all or part of the Property; and <br />(3) Seller's interest in all licenses and permits related to the Property. <br /> <br />(Desoribe any exoeptions, reservations, or restriotions in Paregraph 11 or an addendum.) <br /> <br />3. SALES PRICE: <br /> <br />A. At or before closing, Buyer will pay the following sales price for the Property: <br />(1) Cash portion payable by Buyer at closing___ _ _ _ _ __ _ __ _ _ _ _ __ ___ ___ _ __ _ _ _ __ h_ __ _ ___ __ ____ ___ _ _ _ $ <br />(2) Sum of all financing described in Paragraph 4_ n_ _____n__ ___ ___ _____ __ _ up ________ u __u .__ $ <br /> <br />2.325.000.00 <br /> <br />(3) Sales price (sum of 3A(1) and 3A(2)L______________________________n______________n_______. $ <br />B. Adiustment to Sales Price: (Check (1) or (2) only.) <br />~ (1) The sales price will not be adjusted based on a survey. <br />o (2) The sales price will be adjusted based on the latest survey obtained under Paragraph 68. <br /> <br />2.325,000.00 <br /> <br />(a) The sales price is calculated on the basis of $ <br />o (i) square foot of 0 total area 0 net area. <br />o (Ii) acre of 0 total area 0 net area. <br /> <br />(b) "Total area" means all land area within the perimeter boundaries of the Property. "Net area" means total area less any <br />area of the Property within: <br /> <br />per: <br /> <br />o (1) public roadways; <br />o (ii) rights-of-way and easements other than those that directly provide utility services to the Property; and <br />o (iii) <br /> <br />(TAR~1802) 11.5~99 <br /> <br />Initialed for Identification by 6uyer_, M and Seller ~ ~/ <br />TAR, P.O. Box 2246, Austin, TX 7a768~2246 <br />Produe(>d with ZipForm'" by RE FormsNel. LLC 18025 Fifteen Mile Road, Clirtton Towmhip, MIchigan 48035, (BOO) 383-9805 <br /> <br />Page 1 of 9 <br />T6200424.ZPX <br />