Res 2012-008 - Laserfiche WebLink

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B. Clovis R. and Margaret A. Barker, husband and wife, and Van Rea, as Trustee of the Medical X -ray Consultants P. A., Profit Sharing Plan (collectively "Current Owner ") are the owners of certain real property located in Hays County, Texas generally depicted as "Barker Tract A" on Exhibit A attached hereto and made a part hereof. So much of said real property with a value of $1,600,000.00 as determined by Graham & Associates, together with any and all improvements, fixtures, timber, water and /or minerals not otherwise shown of record to be outstanding in third parties, located thereon and any and all rights appurtenant thereto including but not limited to timber rights, water rights, Access Rights and mineral rights shall be referred to in this Agreement as the "Property". The exact boundaries of the Property will be reasonably acceptable to Seller and Buyer. The legal description of the Property will be determined in accordance with Section 5.b. The parties agree that for purposes of this Agreement "Access Rights" include conveyance of the real property together with that certain "60' wide Private Access Easement" bounded by Mountain High Drive and Lots 51 and 52, THE ESTATES OF SAN MARCOS, a subdivision in Hays County, Texas, according to the map or plat recorded in Volume 5, page 180 of the Plat Records of Hays County, Texas and an easement for ingress and egress over and across the road as it currently exists on the real property identified on Exhibit A as "Barker Tract B" (the "Tract B Easement "). C. Seller has proposed to acquire the Property from Current Owner. D. Buyer wishes to purchase the Property from Seller and Seller wishes to sell the Property to Buyer in accordance with the terms and conditions set forth in this Agreement. NOW THEREFORE, FOR $10.00 AND OTHER GOOD AND VALUABLE CONSIDERATION, THE PARTIES AGREE AS FOLLOWS: 1. Purchase and Sale. Seller agrees to sell to Buyer and Buyer agrees to buy from Seller the Property on the terms and conditions set forth herein. 2. Purchase Terms. a. Price. The purchase price (the "Purchase Price ") for the Property shall be $1,600,000.00. b. Method of Pa ent. The Purchase Price shall be payable in cash, at Closing (as defined below), subject to any credits, pro - rations and adjustments provided elsewhere in this Agreement. 3. Condition of the Proyerty. a. Buyer agrees that from the Effective Date to, through and including January 21, 2012 (the "Inspection Period "), Buyer may at its sole cost and expense: Agrmt of Sale City of San Marcos—Barker Tract (1- 3- 12).doc