Res 1999-241 - Laserfiche WebLink

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Commercial Unimproved Earnest Money Contract concerning 9.754 Acres inspectors. Within days after the Effective Date of this contract Seller shall deliver to Buyer (strike any not to be delivered): (1 ) copies of all notes and deeds of trust assumed or taken subject to by Buyer; (2) copies of all leases pertaining to the Property, including any modifications, supplements, or amendments to the leases; (3) copies of all previous environmental assessments, studies, or analyses affecting the Property in Seller's possession. 8. BROKER'S REPRESENTATION AND FEES: None (Listing Broker): 0 represents Seller only; 0 acts as intermediary between Seller and Buyer. Any other broker represents:OSeller as Listing Broker's Subagent;OBuyer only. Seller shall pay Listing Broker (choose only one): o (a) the fee specified by separate agreement between Listing Broker and Seller. o (b)- a total cash fee of either $ or % of the total Sales Price in County, Texas on closing of this sale, which Escrow Agent shall pay from Seller's proceeds of this sale. If Seller defaults, the cash fee shall be due and payble in full. If Buyer defaults, Escrow Agent is authorized to pay Listing Broker one-half of any Earnest Money Seller receives under this contract not to exceed the amount of the cash fee. 9. CLOSING: )1 /.tb {~'-- (a) The closing of the sale shall be on or before December I, 1999 or within 7 days after objections to title or the survey have been cured, whichever date is later (the Closing Date); however, if financing or assumption approval has been obtained pursuant to paragraph 4, the Closing Date shall be extended up to 15 days only if necessary to comply with lender's closing instructions (for example, survey and closing documents). If either party fails to close this sale by the Closing Date, the non-defaulting party shall be entitled to exercise the remedies contained in paragraph 15. (b) At closing Seller shall furnish, at Seller's expense (strike any not to be furnished): (1) tax statements show ing no delinquent taxes on the Property; (2) an assignment of all leases to or on the Property duly executed by Seller; (3) a !Xl GeneralO Special Warranty Deed conveying good and indefeasible title to Property showing no additional exceptions to those permitted in paragraph 6; and (4) evidence that the person executing this contract is legally capable and authorized to bind Seller. 10. POSSESSION: Seller shall deliver possession of the Property to Buyer on closi~9' in its present condition. Any possession by Buyer prior to Closing or Seller after closing that is not authorized by a separate written lease agreement, shall establish a landlord-tenant at sufferance relationship between the parties. 11. SPECIAL PROVISIONS: (TAR 031) 1-1-96 Page 5 of 8