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HomeMy WebLinkAboutResolution - 2009-R0196 - Contract Of Sale - Jimmy Lancaster, Billy Lancaster - 05_14_2009Resolution No. 2009-RO196 May 14, 2009 Item No. 5.20 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock, a Contract of Sale by and between Jimmy Mack Lancaster, Billy Charles Lancaster and the City of Lubbock, regarding property described as 4.82 acres out of Section 1259, J.H. Gibson Survey, arza County, Texas, and all related documents. Said Contract of Sale is attached hereto d incorporated in this Resolution as if fully set forth herein and shall be included in the minutes of the Council. assed by the City Council this 14th day of May 2009. !:7A7-MW1r- TO MARTIN, MAYOR �TTEST: APPROVED AS TO CONTENT: �� xo-/� Dave Booher, ght-of-Way Agent T—tTFo—mas Adams, (Deputy City Manager/Director of Water Utilities ... to"VA'ALVA ancaster- C ontract of 5ale.res 118/09 �I Air Resolution No. 2009-RO196 rTEXAS ASSOCIATION OF REALTORS© COMMERCIAL CONTRACT - UNIMPROVED PROPERTY USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORSO IS NOT AUTHORIZED. OTexas Association of REALTORSS, Inc. 2006 1. PARTIES: Seller agrees to sell and convey to Buyer the Property described in Paragraph 2. Buyer agrees to buy the Property from Seller for the sales price stated in Paragraph 3. The parties to this contract are: Seller: JIMMY MACK LANCASTER & BILLY CHARLES LANCASTER Address: Phone: _ E-mail: _ Fax: Buyer: CITY OF LUBBOCK Address: Phone: Fax: E-mail: 2. PROPERTY: A. "Property" means that real property situated in GARZA County, Texas at ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY SLK 1, 4.82 ACRES (address) and that is legally described on the attached Exhibit A or as follows.- B. Seller will sell and convey the Property together with: &(1) all rights, privileges, and appurtenances pertaining to the Property, including Seller's right, title, and interest in any, utilities, adjacent streets, alleys, strips, gores, and rights -of -way; �ML T2) Seller's interest in all leases, rents, and security deposits for all or part of the Property; and (3) Seller's interest in all licenses and permits related to the Property. (Describe any exceptions, reservations, or restrictions in Paragraph 12 or an addendum.) 3. SALES PRICE: A. At or before closing, Buyer will pay the following sales price for the Property: (1) Cash portion payable by Buyer at closing ...... ........ $ 23,000.00 (2) Sum of all financing described in Paragraph 4 ...................... $ (3) Sales price (sum of 3A(1) and 3A(2)) ............................. $ 23,000.00 (TAR-1802) 10-18-05 Initialed for Identification by Buyer and SelIekrnnL-, Page 1 of 12 MCDOCIGAL REAL.TORS 4601 S LOOP 289, LUBBOCK TX 79424 Phone: 8067930703 Fax: 9067967874 Brian Aycock SOUTHLAND Produced wish ZipForme by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning BLK 1, 4.82 ACRES B. Adjustment to Sales Price: (Check (1) or (2) only.) ® (1) The sales price will not be adjusted based on a survey. ❑ (2) The sales price will be adjusted based on the latest survey obtained under Paragraph 6B. (a) The sales price is calculated on the basis of $ per: ❑ (i) square foot of ❑ total area ❑ net area. ❑ (ii) acre of ❑ total area ❑ net area. (b) "Total area" means all land area within the perimeter boundaries of the Property. "Net area" means total area less any area of the Property within: ❑ (i) public roadways; ❑ (ii) rights -of -way and easements other than those that directly provide utility services to the Property; and ❑ (iii) (c) If the sales price is adjusted by more than % of the stated sales price, either party may terminate this contract by providing written notice to the other party within days after the terminating party receives the survey. If neither party terminates this contract or if the variance is less than the stated percentage, the adjustment to the sales price will be made to the cash portion of the sales price payable by Buyer. 4. FINANCING: Buyer will finance the portion of the sales price under Paragraph 3A(2) as follows: ❑ A. Third Party Financing: One or more third party loans in the total amount of $ This contract.- 0 (1) is not contingent upon Buyer obtaining third party financing. ❑ (2) is contingent upon Buyer obtaining third party financing in accordance with the attached Commercial Contract Financing Addendum. ❑ B. Assumption: In accordance with the attached Commercial Contract Financing Addendum, Buyer will assume the existing promissory note secured by the Property, which balance at closing will be ❑ C. Seller Financing: The delivery of a promissory note and deed of trust from Buyer to Seller under the terms of the attached Commercial Contract Financing Addendum in the amount of $ 5. EARNEST MONEY: A. Not later than 3 days after the effective date, Buyer must deposit $ 1 , 000.00 as earnest money with WEST TEXAS TITLE (escrow agent) at (address). If Buyer fails to timely deposit the earnest money, Seller may terminate this contract by providing written notice to Buyer before Buyer deposits the earnest money and may exercise Seller's remedies under Paragraph 15. B. Buyer will deposit an additional amount of $ with the escrow agent to be made part of the earnest money on or before: ❑ (i) days after Buyer's right to terminate under Paragraph 7B expires; or ❑ (i i) Buyer will be in default if Buyer fails to deposit the additional amount required by this Paragraph 5B within 3 days after Seller notifies Buyer that Buyer has not timely deposited the additional amount. C. Buyer may instruct the escrow agent to deposit the earnest money in an interest -bearing account at a federally insured financial institution and to credit any interest to Buyer. (TAR-1802) 10-18-05 Initialed for Identification by Buyer and Selle:h, t L; Ally Page 2 of 12 Produced with LpForm�& by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLogix.com SOLI H AND ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning ELK 1, 4.82 ACRES 6. TITLE POLICY AND SURVEY: A. Title Policy: Qt V{1) Seller, at s expense, will furnish Buyer an Owner's Policy of Title Insurance (the title policy) ;A-`yjL_ issued by WEST TEXAS TITLE (title company) in the amount of the sales price, dated at or after closing, insuring Buyer against loss under the title policy, subject only to: (a) those title exceptions permitted by this contract or as may be approved by Buyer in writing; and (b) the standard printed exceptions contained in the promulgated form of title policy unless this contract provides otherwise. (2) The standard printed exception as to discrepancies, conflicts, or shortages in area and boundary lines, or any encroachments or protrusions, or any overlapping improvements: ❑ (a) will not be amended or deleted from the title policy. ® (b) will be amended to read "shortages in areas" at the expense of ® Buyer ❑ Seller. (3) Buyer may object to any restrictive covenants on the Property within the time required under Paragraph 6C. (4) Within N/A days after the effective date, Seller will furnish Buyer a commitment for title insurance (the commitment) including legible copies of recorded documents evidencing title exceptions. Seller authorizes the title company to deliver the commitment and related documents to Buyer at Buyer's address. B. Survey: Within N/A days after the effective date: 21 (1) Buyer will obtain a surrey of the Property at Buyer's expense and deliver a copy of the survey to Seller. The survey must be made in accordance with the Texas Society of Professional Surveyors' standards for a Category 1A survey under the appropriate condition. ❑ (2) Seller, at Seller's expense, will furnish Buyer a survey of the Property dated after the effective date. The survey must be made in accordance with the Texas Society of Professional Surveyors' standards for a Category 1A survey under the appropriate condition. ❑ (3) Seller will deliver to Buyer and the title company a true and correct copy of Seller's existing survey of the Property dated along with an affidavit required by the title company for approval of the survey. If the survey is not acceptable to the title company„ Seller, at Seller's expense, will obtain a survey acceptable to the title company and deliver the acceptable survey to the Buyer and the title company within 15 days after Seller receives notice that the existing survey is not acceptable to the title company. The closing date will be extended daily up to 15 days if necessary for Seller to deliver an acceptable survey within the time required. C. Buyer's Objections to the Commitment and Survey: (1) Within 10 days after Buyer receives the commitment, copies of the documents evidencing the title exceptions, and any required survey, Buyer may object in writing to matters disclosed in the items if: (a) the matters disclosed constitute a defect or encumbrance to title other than those permitted by this contract or liens that Seller will satisfy at closing or Buyer will assume at closing; or (b) the items show that any part of the Property lies in a special flood hazard area (an "A" or N" zone as defined by FEMA). If Paragraph 6B(1) applies, Buyer is deemed to receive the survey on the earlier of: (i) the date of Buyer's actual receipt of the survey; or (ii) of the deadline specified in Paragraph 6B. (TAR-1802) 10-1B-05 Initialed for Identification by Buyer and Seller,_ Page 3 of 12 Produced with ZipFormV by zipLogix 18070 Fifteen Mile Road, Fraser. Michigan 48026 www,ziP- Looix.com SOUTHLAND ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning BLK 1, 4.82 ACRES (2) Seller may, but is not obligated to, cure Buyer's timely objections within 15 days after Seller receives the objections. The closing date will be extended as necessary to provide such time to cure the objections. If Seller fails to cure the objections by the time required, Buyer may terminate this contract by providing written notice to Seller within 5 days after the time by which Seller must cure the objections. If Buyer terminates, the earnest money, less any independent consideration under Paragraph 713(1), will be refunded to Buyer. (3) Buyer's failure to timely object or terminate under this Paragraph 6C is a waiver of Buyer's right to object except that Buyer will not waive the requirements in Schedule C of the commitment. 7. PROPERTY CONDITION: A. Present Condition: Buyer accepts the Property in its present condition except that Seller, at Seller's expense, will complete the following before closing: B. Feasibility Period: Buyer may terminate this contract for any reason within N/A days after the effective date (feasibility period) by providing Seller written notice of termination. (Check only one box.) N (1) If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer less $ 1,000.00 that Seller will retain as independent consideration for Buyer's unrestricted right to terminate. Buyer has tendered the independent consideration to Seller upon payment of the amount specified in Paragraph 5A to the escrow agent. The independent consideration is to be credited to the sales price only upon closing of the sale. If no dollar amount is stated in this Paragraph 713(1) or if Buyer fails to timely deposit the earnest money, Buyer will not have the right to terminate under this Paragraph 7B. ❑ (2) Not later than 3 days after the effective date, Buyer must pay Seller $ as independent consideration for Buyer's right to terminate by tendering such amount to Seller or Seller's agent. If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer and Seller will retain the independent consideration. The independent consideration will be credited to the sales price only upon closing of the sale. If no dollar amount is stated in this Paragraph 7B(2) or if Buyer fails to timely pay the independent consideration, Buyer will not have the right to terminate under this Paragraph 7B. C. Inspections, Studies, or Assessments: (1) During the feasibility period, Buyer, at Buyer's expense, may complete or cause to be completed any and all inspections, studies, or assessments of the Property (including all improvements and fixtures) desired by Buyer. (2) Buyer must: (a) employ only trained and qualified inspectors and assessors; (b) notify Seller, in advance, of when the inspectors or assessors will be on the Property; (c) abide by any reasonable entry rules or requirements of Seller; (d) not interfere with existing operations or occupants of the Property; and (e) restore the Property to its original condition if altered due to inspections, studies, or r( � assessments that Buyer completes or causes to be completed. wj� (3) ag2 �F'AS C✓ ex ense res (TAR-1802) 10-18-05 Initialed for Identification by Buyer and Seller 'AG k_'_, Page 4 of 12 Produced with ZipForm@ by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zi[)Logix.corn SOUTHLAND ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning ELK 1, 4.B2 ACRES ------------- I I. al I -- - D. Property Information: (1) Delivery of Property Information: Within 5 days after the effective date, Seller will deliver to Buyer: ❑ (a) copies of all current leases pertaining to the Property, including any modifications, supplements, or amendments to the leases; ❑ (b) copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing; ❑ (c) copies of all previous environmental assessments, geotechnical reports, studies, or analyses made on or relating to the Property; ❑ (d) copies property tax statements for the Property for the previous 2 calendar years; ❑ (e) plats of the Property; ❑ (f) copies of current utility capacity letters from the Property's water and sewer service provider; and 10 (g)ANY OTHER INTEREST WHETHER OR NOT OF RECORD IN CONNECTION WITH OR RELATED TO THE PROPERTY. (2) Retum of Property Information: If this contract terminates for any reason, Buyer will, not later than 10 days after the termination date: (a) return to Seller all those items described in Paragraph 7D(1) that Seller delivered to Buyer and all copies that Buyer made of those items; and (b) deliver copies of all inspection and assessment reports related to the Property that Buyer completed or caused to be completed. This Paragraph 7D(2) survives termination of this contract. E. Contracts Affecting Operations: Until closing, Seller: (1) will operate the Property in the same manner as on the effective date under reasonably prudent business standards; and (2) will not transfer or dispose of any part of the Property, any interest or right in the Property, or any of the personal property or other items described in Paragraph 2B or sold under this contract. After the feasibility period ends, Seller may not enter into, amend, or terminate any other contract that affects the operations of the Property without Buyer's written approval. 8. LEASES: A. Each written lease Seller is to assign to Buyer under this contract must be in full force and effect according to its terms. Seller may not enter into any new lease, fail to comply with any existing lease, or make any amendment or modification to any existing lease without Buyer's written consent. Seller must disclose, in writing, if any of the following exist at the time Seller provides the leases to the Buyer or subsequently occur before closing: (1) any failure by Seller to comply with Seller's obligations under the leases; (2) any circumstances under any lease that entitle the tenant to terminate the lease or seek any offsets or damages; (3) any advance sums paid by a tenant under any lease; (4) any concessions, bonuses, free rents, rebates, brokerage commissions, or other matters that affect any lease; and (5) any amounts payable under the leases that have been assigned or encumbered, except as security for loan(s) assumed or taken subject to under this contract. B. Estoppel Certificates: Within NIA days after the effective date, Seller will deliver to Buyer estoppel certificates signed not earlier than by each tenant that leases space in the Property. The estoppel certificates must state: (TAR-1802) 10-18-05 Initialed for Identification by Buyer and SelleE� Page 5 of 12 Produced with LpForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLQgix.com SOUTHLAND ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning ELK 1, 4.82 ACRES (1) that no default exists under the lease by the landlord or tenant as of the date the estoppel certificate is signed; (2) the amount of the scheduled rents to be paid through the end of the lease and any rental payments that have been paid in advance; (3) the amount of any security deposit; (4) the amount of any offsets tenant is entitled against rent; (5) the expiration date of the lease; (6) a description of any renewal options; and (7) 9. BROKERS: A. The brokers to this sale are: MCDOUGAL REALTORS Cooperating Broker License No. Principal Broker 0427591 License No. 4601 5 LOOP 289 Address Address LUBBOCK TX 79424 E-mail: Cooperating Broker represents buyer. B. Fees. (Check only one box.) 58061793-0703 (806)796-7874 Fax Phone Fax E-mail: BRNAYCOCK@AOL . COM Principal Broker: (Check only one box.) ❑ represents Seller only. ❑ represents Buyer only. ® is an intermediary between Seller and Buyer. ❑ (1) Seller will pay Principal Broker the fee specified by separate written commission agreement between Principal Broker and Seller. Principal Broker will pay Cooperating Broker the fee specified in the Agreement Between Brokers found below the parties' signatures to this contract. lM (2) At the closing of this sale, Seller will pay: Cooperating Broker a total cash fee of: ❑ % of the sales price. Principal Broker a total cash fee of: ❑ % of the sales price. ® $3,000.00 The cash fees will be paid in LUBBOCK County, Texas. Seller authorizes escrow agent to pay the brokers from the Seller's proceeds at closing. NOTICE: Chapter 62, Texas Property Code, authorizes a broker to secure an earned commission with a lien against the Property. C. The parties may not amend this Paragraph 9 without the written consent of the brokers affected by the amendment. 10. CLOSING: A. The closing of the sale will be on or before June 30, 2009 or within 7 days after objections made under Paragraph 6C have been cured or waived, whichever date is later (the closing date). B. If either party fails to close by the closing date, the non -defaulting party may exercise the remedies in Paragraph 15. ID (TAR-1802) 10-1 B-05 Initialed for Identification by Buyer -and Seller; Z� Page 6 of 12 Produced with ZipForm@ by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zin4oaix.com SOUTHLAND ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning BLK 1, 4.82 ACRES evje Cs Q At closing, Seller will execute and deliver, at Sel!64 expense, a W general ❑ special warranty V deed. The deed must include a vendor's lien if any part of the sales price is financed. The deed must `�1 V convey good and indefeasible title to the Property and show no exceptions other than those permitted under Paragraph 6 or other provisions of this contract. Seller must convey the Property: (1) with no liens, assessments, or other security interests against the Property which will not be satisfied out of the sales price, unless securing loans Buyer assumes,- (2) without any assumed loans in default; and (3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or trespassers except tenants under the written leases assigned to Buyer under this contract. D. At closing, Seller, at Seller's expense, will also deliver to Buyer_ (1) tax statements showing no delinquent taxes on the Property; (2) an assignment of all leases to or on the Property; (3) to the extent assignable, an assignment to Buyer of any licenses and permits related to the Property; (4) evidence that the person executing this contract is legally capable and authorized to bind Seller; (5) an affidavit acceptable to the escrow agent stating that Seller is not a foreign person or, if Seller is a foreign person, a written authorization for the escrow agent to: (i) withhold from Seller's proceeds an amount sufficient to comply applicable tax law; and (ii) deliver the amount to the Internal Revenue Service (IRS) together with appropriate tax forms; and (6) any notices, statements, certificates, affidavits, releases, and other documents required by this contract, the commitment, or law necessary for the closing of the sale and issuance of the title policy, all of which must be completed by Seller as necessary. E. At closing, Buyer will: (1) pay the sales price in good funds acceptable to the escrow agent; (2) deliver evidence that the person executing this contract is legally capable and authorized to bind Buyer; (3) sign and send to each tenant in a lease for any part of the Property a written statement that: (a) acknowledges Buyer has received and is responsible for the tenant's security deposit; and (b) specifies the exact dollar amount of the security deposit; (4) sign an assumption of all leases then in effect; and (5) execute and deliver any notices, statements, certificates, or other documents required by this contract or law necessary to close the sale. F. Unless the parties agree otherwise, the closing documents will be as found in the basic forms in the current edition of the State Bar of Texas Real Estate Forms Manual without any additional clauses. 11. POSSESSION: Seller will deliver possession of the Property to Buyer upon closing and funding of this sale in its present condition with any repairs Seller is obligated to complete, ordinary wear and tear excepted. Any possession by Buyer before closing or by Seller after closing that is not authorized by a separate written lease agreement is a landlord -tenant at sufferance relationship between the parties. 12. SPECIAL PROVISIONS: (Identify exhibit if special provisions are contained in an attachment.) REFER TO EXHIBIT B. (TAR-1802) 10-18-05 Initialed for Identification by Buyer and Selln�►1�, Page 7 of 12 Produced with ZipForrn® by zipLogix 18070 Fifteen We Road, Fraser, Michigan 4BC26 www_zioLooix.cam SO[JTHLAND ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning BLK 1, 4.82 ACRES 13. SALES EXPENSES: A. Seller's Expenses: Seller will pay for the following at or before closing: (1) releases of existing liens, other than those liens assumed by Buyer, including prepayment penalties and recording fees; (2) release of Seller's loan liability, if applicable; (3) tax statements or certificates; (4) preparation of the deed; (5) one-half of any escrow fee; (6) costs to record any documents to cure title objections that Seller must cure; and (7) other expenses that Seller will pay under other provisions of this contract. B. Buyer's Expenses: Buyer will pay for the following at or before closing: (1) all loan expenses and fees; (2) preparation of any deed of trust; (3) recording fees for the deed and any deed of trust; (4) premiums for flood insurance as may be required by Buyer's lender; (5) one-half of any escrow fee; (6) other expenses that Buyer will pay under other provisions of this contract. 14. PRORATIONS: A. Prorations: (1) Interest on any assumed loan, taxes, rents, and any expense reimbursements from tenants will be prorated through the closing date. (2) If the amount of ad valorem taxes for the year in which the sale closes is not available on the closing date, taxes will be prorated on the basis of taxes assessed in the previous year. If the taxes for the year in which the sale closes vary from the amount prorated at closing, the parties will adjust the prorations when the tax statements for the year in which the sale closes become available. This Paragraph 14A(2) survives closing. (3) If Buyer assumes a loan or is taking the Property subject to an existing lien, Seller will transfer all reserve deposits held by the lender for the payment of taxes, insurance premiums, and other charges to Buyer at closing and Buyer will reimburse such amounts to Seller by an appropriate adjustment at closing. B, Rollback Taxes: If Seller changes the use of the Property before closing or if a denial of a special valuation on the Property claimed by Seller results in the assessment of additional taxes, penalties, or interest (assessments) for periods before closing, the assessments will be the obligation of the Seller. If this sale or Buyer's use of the Property after closing results in additional assessments for periods before closing, the assessments will be the obligation of Buyer. This Paragraph 14B survives closing. C. Rent and Security Deposits: At closing, Seller will tender to Buyer all security deposits and the following advance payments received by Seller for periods after closing: prepaid expenses, advance rental payments, and other advance payments paid by tenants. Rents prorated to one party but received by the other party will be remitted by the recipient to the party to whom it was prorated within 5 days after the rent is received. This Paragraph 14C survives closing. 15. DEFAULT: A. If Buyer fails to comply with this contract, Buyer is in default and Seller may: (1) terminate this contract and receive the earnest money as liquidated damages, thereby releasing the parties from this contract; or (2) enforce specific performance, or seek other relief as may be provided by law, or both. (TAR-1802) 10-18-05 Initialed for Identification by Buyer and Seller r�-� Page 8 of 12 Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLoaix.com SOUTHLAND ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning BLK 1, 4.82 ACRES B. If, without fault, Seller is unable within the time allowed to deliver the estoppel certificates, survey, or commitment, Buyer may: (1) terminate this contract and receive the earnest money, less any independent consideration under Paragraph 713(1), as the sole remedy; or (2) extend the time for performance up to 15 days and the closing will be extended as necessary. C. Except as provided in Paragraph 15B, if Seller fails to comply with this contract, Seller is in default and Buyer may: (1) terminate this contract and receive the earnest money, less any independent consideration under Paragraph 76(1), as liquidated damages, thereby releasing the parties from this contract; or (2) enforce specific performance, or seek such other relief as may be provided by law, or both. 16. CONDEMNATION: If before closing, condemnation proceedings are commenced against any part of the Property, Buyer may: A. terminate this contract by providing written notice to Seller within 15 days after Buyer is advised of the condemnation proceedings and the earnest money, less any independent consideration paid under Paragraph 7B(1), will be refunded to Buyer; or B. appear and defend in the condemnation proceedings and any award will, at Buyer's election, belong to: (1) Seller and the sales price will be reduced by the same amount; or (2) Buyer and the sales price will not be reduced. 17. ATTORNEY'S FEES: If Buyer, Seller, any broker, or any escrow agent is a prevailing party in any legal proceeding brought under or with relation to this contract or this transaction, such party is entitled to recover from the non -prevailing parties all costs of such proceeding and reasonable attorney's fees. This Paragraph 17 survives termination of this contract. 18. ESCROW: A. At closing, the earnest money will be applied first to any cash down payment, then to Buyer's closing costs, and any excess will be refunded to Buyer. B. If both parties make written demand for the earnest money, escrow agent may require payment of unpaid expenses incurred on behalf of the parties and a written release of liability of escrow agent from all parties. C. If one party makes written demand for the earnest money, escrow agent will give notice of the demand by providing to the other party a copy of the demand. If escrow agent does not receive written objection to the demand from the other party within 15 days after the date escrow agent sent the demand to the other party, escrow agent may disburse the earnest money to the party making demand, reduced by the amount of unpaid expenses incurred on behalf of the party receiving the earnest money and escrow agent may pay the same to the creditors. D. Escrow agent will deduct any independent consideration under Paragraph 76(1) before disbursing any earnest money to Buyer and will pay the independent consideration to Seller. E. If escrow agent complies with this Paragraph 18, each party hereby releases escrow agent from all claims related to the disbursal of the earnest money. F. Notices under this Paragraph 18 must be sent by certified mail, return receipt requested. Notices to escrow agent are effective upon receipt by escrow agent. 19. MATERIAL FACTS: To the best of Seller's knowledge and belief: (Check only one box.) 0 A. Seller is not aware of any material defects to the Property except as stated in the attached Property Condition Statement. (TAR-1802) 10-18-05 Initialed for Identification by Buyer and Selle�_�aal Page 9 of 12 Produced with ZipFormg, by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 45028 www.zipLogix.com SQVTI IL.ANU ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning BLK 1, 4.82 ACRES ® B. Except as otherwise provided in this contract, Seller is not aware of: (1) any subsurface: structures, pits, waste, springs, or improvements; (2) any pending or threatened litigation, condemnation, or assessment affecting the Property; (3) any environmental hazards or conditions that materially affect the Property; (4) whether the Property is or has been used for the storage or disposal of hazardous materials or toxic waste, a dump site or landfill, or any underground tanks or containers; (5) whether radon, asbestos containing materials, urea -formaldehyde foam insulation, lead -based paint, toxic mold (to the extent that it adversely affects the health of ordinary occupants), or other pollutants or contaminants of any nature now exist or ever existed on the Property; (6) any wetlands, as defined by federal or state law or regulation, on the Property; (7) any threatened or endangered species or their habitat on the Property; (8) any present or past infestation of wood -destroying insects in the Property's improvements; (9) any contemplated material changes to the Property or surrounding area that would materially and detrimentally affect the ordinary use of the Property; (10) any condition on the Property that violates any law or ordinance. (Describe any exceptions to (9)-(10) in Paragraph 12 or an addendum.) 20. NOTICES: All notices between the parties under this contract must be in writing and are effective when hand -delivered, mailed by certified mail return receipt requested, or sent by facsimile transmission to the parties addresses or facsimile numbers stated in Paragraph 1. The parties will send copies of any notices to the broker representing the party to whom the notices are sent. ❑ A. Seller also consents to receive any notices by e-mail at Seller's e-mail address stated in Paragraph 1. ❑ B. Buyer also consents to receive any notices by e-mail at Buyer's e-mail address stated in Paragraph 1. 21. DISPUTE RESOLUTION: The parties agree to negotiate in good faith in an effort to resolve any dispute related to this contract that may arise. If the dispute cannot be resolved by negotiation, the parties will submit the dispute to mediation before resorting to arbitration or litigation and will equally share the costs of a mutually acceptable mediator. This paragraph survives termination of this contract. This paragraph does not preclude a party from seeking equitable relief from a court of competent jurisdiction. 22. AGREEMENT OF THE PARTIES: A. This contract is binding on the parties, their heirs, executors, representatives, successors, and permitted assigns. B. This contract is to be construed in accordance with the laws of the State of Texas. C. This contract contains the entire agreement of the parties and may not be changed except in writing. D. If this contract is executed in a number of identical counterparts, each counterpart is an original and all counterparts, collectively, constitute one agreement. E. Addenda which are part of this contract are: (Check all that apply.) ❑ (1) Property Description Exhibit identified in Paragraph 2; O (2) Commercial Contract Financing Addendum; ❑ (3) Commercial Property Condition Statement; ❑ (4) Notice to Purchaser of Real Property in a Water District (MUD); ❑ (5) Addendum for Coastal Area Property; ❑ (6) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway; and ® (7) EXHIBIT A --SURVEY AND EXHIBIT B--SPECIAL PROVISIONS. (Note. Counsel for the Texas Association of REALTORS8 (TAR) has determined that any of the foregoing addenda which are promulgated by the Texas Real Estate Commission (TREC) or published by TAR are appropriate for use with this form.) (TAR-1802) 10-18-05 Initialed for Identification by Buyer and SelJec !ti Page 10 of 12 Produced with ZipForm® by zipLogix 18070 Fifteen Mike Road, Fraser, Michigan 48026 www.zioLoaix.com SOUTHLAND ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning BLK 1, 4.82 ACRES F. Buyer E] may 21 may not assign this contract. If Buyer assigns this contract, Buyer will be relieved of any future liability under this contract only if the assignee assumes, in writing, all obligations and liability of Buyer under this contract. 23. TIME: Time is of the essence in this contract. The parties require strict compliance with the times for performance. If the last day to perform under a provision of this contract falls on a Saturday, Sunday, or legal holiday, the time for performance is extended until the end of the next day which is not a Saturday, Sunday, or legal holiday. 24. EFFECTIVE DATE: The effective date of this contract for the purpose of performance of all obligations is the date the escrow agent receipts this contract after all parties execute this contract. 25. ADDITIONAL NOTICES: A. Buyer should have an abstract covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished with or obtain a title policy. B. If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control facilities and services, Chapter 49, Texas Water Code, requires Seller to deliver and Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fees of the district before final execution of this contract. C. Notice Required by §13.257, Water Code: "The real property, described below, that you are about to purchase may be located in a certificated water or sewer service area, which is authorized by law to provide water or sewer service to the properties in the certificated area. If your property is located in a certificated area there may be special costs or charges that you will be required to pay before you can receive water or sewer service. There may be a period required to construct lines or other facilities necessary to provide water or sewer service to your property. You are advised to determine if the property is in a certificated area and contact the utility service provider to determine the cost that you will be required to pay and the period, if any, that is required to provide water or sewer service to your property. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or before the execution of a binding contract for the purchase of the real property described in the notice or at closing of purchase of the real property." The real property is described in Paragraph 2 of this contract. D. If the Property adjoins or shares a common boundary with the tidally influenced submerged lands of the state, §33,135 of the Texas Natural Resources Code requires a notice regarding coastal area property to be included as part of this contract. E. If the Property is located seaward of the Gulf Intracoastal Waterway, §61.025, Texas Natural Resources Code, requires a notice regarding the seaward location of the Property to be included as part of this contract. F. If the Property is located outside the limits of a municipality, the Property may now or later be included in the extra -territorial jurisdiction (ETJ) of a municipality and may now or later be subject to annexation by the municipality. Each municipality maintains a map that depicts its boundaries and ETJ. To determine if the Property is located within a municipality's ETJ, Buyer should contact all municipalities located in the general proximity of the Property for further information. G. Brokers are not qualified to perform property inspections, surveys, engineering studies, environmental assessments, or inspections to determine compliance with zoning, governmental regulations, or laws. Buyer should seek experts to perform such services. Selection of inspectors and repairmen is the responsibility of Buyer and not the brokers. 26. CONTRACT AS OFFER: The execution of this contract by the first party constitutes an offer to buy or sell the Property. Unless the other party accepts the offer by 5.00 p.m., in the time zone in which the Property is located, on May 15, 2009 , the offer will lapse and become null and void. (TAR-1802) 10-1B-05 Initialed for Identification by Buyer I and Selle-L2LL-" Page 11 of 12 Produced with ZipForrnO by zipLogix 18070 Fifteen We Road, Fraser, Michigan 48026 www.zioLogix com SOUTHLAND ABSTRACT 309 SEC 1259, JH GIBSON GARZA COUNTY Commercial Contract - Unimproved Property Concerning BLK 1, 4. 82 ACRES READ THIS CONTRACT CAREFULLY. The brokers and agents make no representation or recommendation as to the legal sufficiency, legal effect, or tax consequences of this document or transaction. CONSULT your attorney BEFORE signing. Buyer: CITY OF LUBBOCK Seller: JIMMY MACK LANCASTER By: By:�_1 , ��, �T�12 C7�w«._ Printed Name: Title: Buyer. By: Printed Name: Title: Printed Name: rny 1),I Ac_k L AM0 k5T(--'v- Title: Seller: BILLY CHARLES LANCASTER Printed Name:- l'44Z e'NaR=fa1 04�Ale24-rT�� Title: AGREEMENT BETWEEN BROKERS Principal Broker agrees to pay (Cooperating Broker) a fee of $ or % of the sales price when the Principal Broker's fee is received. Escrow agent is authorized and directed to pay Cooperating Broker from Principal Broker's fee at closing. This Agreement Between Brokers supersedes any prior offers and agreements for compensation between brokers. Cooperating Broker Principal Broker By: By ATTORNEYS Buyer's attorney is: Seller's attomey is: Name: NONE NOTED Name: NONE NOTED Address: Phone & Fax: Address: Phone & Fax: E-mail: E-mail: Buyer's attorney requests copies of documents, Seller's attorney requests copies of documents, notices, and other information: notices, and other information: ❑ the title company sends to Buyer. D the title company sends to Seller. ❑ Seller sends to Buyer. D Buyer sends to Seller. ESCROW RECEIPT Escrow agent acknowledges receipt of- ❑ A. the contract on this day (effective date); ® B. earnest money in the amount of $1 , 000.00 in the form of CR CK on Escrow Agent: WEST TEXAS TITLE Address: Phone & Fax: By: E-mail: (TAR-1802) 10-18-05 Page 12 of 12 Produced with ZipFonn& by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLogix.com SOUTHLAND PLAT OF SURVEY ON A 4.82 ACRE TRACT AND 4.02 ACRE TRACT OUT OF SECTION 1259, J.H. GIBSON SURVEY AND GARZA COUNTY, TEXAS ESMT. P.O.B. FROM THIS PT THE �� C? N.W. COR. SEC. 1259 BRS. N 88°01'44" W i�Cy 40.0' & N 1" 58'46" E 1000.56, I a� P.0_B- I I FROM THIS PT, THE I N.W. COP. SEC. 1259 BPS N 88° 01'44" W 40.0' & N 1° 58'46" E t 1100.56, I LL I I al ;I 1 Owner: 3 O' _ Joe Bailey Thoxton, Jr. oI UN ao Vol.334 Pg.142 �I n KI Li r Z 1273 I�r I E.L. & R.R. I�i� I010 �I~ in I ^� W I019 P.P Resolution No. --OHE 1.8' 88°01' -------5 ---------� 550.0' 0 I 0 S 88.01'44" E I 350.0' I 4,02 Ac. J TEMPORARY CONST. ESMT. O I w I 13 P.P. 1.2' ON PROPERTY 4.82 Ac. O OI f5 " o � ry Icn I � I I 1 1 s'OST iO.3'l�ipRTH OF CORNER I I I 2009—RO196 EXHIBIT 'A' PAGE 1 OF 3 Deed Cal! 100 Ac Owner» Jimmy Mack Lancaster Vol. 171 Pg. 345 1259 J.H. GIBSON POS7 Turnrow ----38A.$ -------�OQ�--'-20' Wide N 88001' " W N 88°01'44" W eHE z.1' r TPED I j Deed Call 1 Ac. Vol. 40 Pg, 617 P.P. A legal description of even survey date ner� accompanies this survey plat. Su;_-v,qyed on the grgy_u ,gtWmber 3, 2008 Register ed(,f]rofessional Land Surveyor Date Z Deed Coll100 Ac. Owner: Arthur Smallwood Vol. 251 Pg. 1047 • -Set I/2" Rod W/Cap All Northings and Eastings shown are pro ect coordinates and may be converted to Texas State lane Coordinates, North Central Zone, NA083 by dividing by a surface adjustmeni factor of 1.0002396 SCALE 1` - 200' CLIENT CfTY 0 Alldistances shown ore surface distances. DRAWN BY: B. Bearings shown are grid bearings based on the Texas SURI State Plane Coordinate System, North Central Zone, I FILE' NAD83 Datum. T DATE: 12-3-08 F LUBBOCK BURROW SURVEY DATE: 12-3-C8 J.M. MARTIN JR1 FIELD BOOK: n I FILE NO. 35.760 1 SHEET 1 OF 3 This survey and allinformation hereon is for the exclusive use of WEM Lim t 'M SMIMK. CITY OF LUBBOCK and shall riot be copied or used eycept for fire purpose for which 3330 Taw S%Wn 202 - LUMCK. TX, 79413 it is expressly furnished. this drawing and allcapies fpor(idor (W617W-0Q20 • rAt tM)722-%46 complete) shall be returned to the owner upon demand. EXHIBIT "A" Page 2 of 3 acre tract of land out of Section 1259, J.H. Gibson Survey, Garza County, Texas and being more netes and bounds as follows: rod with cap, set on the existing East right of way line of F.M. 2106, for the Northwest and beginning act, whence the Northwest comer of Section 1259 bears North 88'01'44" West, 40.00 feet and North aet; East, a distance of 350.00 feet to a 1/2" iron rod with cap, set for the Northeast comer of this 4.82 West, a distance of 600.00 feet to a '/2" iron rod with cap, set for the Southeast corner of this 4.82 West, a distance of 350.00 feet to a 1/2" iron rod with cap, set on the existing East right of way line of est conger of this 4.82 acre tract; East, along the existing East right of way line of F.M. 2106, a distance of 600.00 feet to the point of of land. TION EASEMENT acre tract of land out of Section 1259, J.H. Gibson Survey, Garza County, Texas and being more fetes and bounds as follows: rod with cap, set on the existing East right of way line of F.M. 2016, for the Northwest corner of this e Northwest corner of Section 1259 bears North 88°O1'44" West, a distance of 40.00 feet and North of 1000.56 feet; East, a distance of 550.00 feet to a 1/2" iron rod with cap, set for the Northeast corner of this 4.02 West, a distance of 700.00 feet to a r/2" iron rod with cap, set for the Southeast corner of this 4.02 Nest, a distance of 200.00 feet to a Y2" iron rod with cap, set for the Southeast corner of a 4.82 acre t corner of this 4.02 acre tract; East, along the East line of a 4.82 acre tract, a distance of 600.00 feet to a 1/2" iron rod with cap, set a 4.82 acre tract and for a corner of this 4.02 acre tract; 'vest, along the North line of said 4.82 acre tract of land, a distance of 350.00 feet to a 1/2" iron rod vest corner of said 4.82 acre tract and a corner of this 4,02 acre tract; ;ast, along the existing East right of way line of F.M. 2106, a distance of 100.00 feet to the point of 3f land. HIGH --TECH LAND AND GPS SURVEYORS, INC. 3330 70th St., Suite 202 • Lubbock, Texas 79413 (806) 788-0020 - Fax (806) 792-1646 EXHIBIT "A" Page 3 of 3 NOTES: A survey plat of even survey date herewith accompanies this legal description. Surveyed on the ground December 3, 2008. All distances are surface distances. Bearings are grid bearings based on the Texas State Plane Coordinate System, North Central Zone, NAD83 Datum, U.S. Survey Feet. ..,Admb.- RE R SSIONAL LAND SURVEYOR DATE: I Is ^j kmpIcloc HIGH-TECH LAND AND GPS SURVEYORS, INC 3330 70th St., Suite 202 • Lubbock, Texas 79413 (806) 788-0020 • Fax (806) 792-1646 #35,760 Resolution No. 2009--RO196 TEXAS ASSOCIATION OF REALTORS& COMMERCIAL CONTRACT EXHIBIT USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TFXAS ASSOCIATION OF REALTORSa IS NOT AUTHORIZED QTexas Association of REALTORS@, Inc. 2002 EXHIBIT B TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED CONCERNING THE PROPERTY AT ABSTRACT 309 SEC 1259, 4.82 ACRES, , #1 NOT WITHSTANDING ANY OTHER PARAGRAPH IN THIS CONTRACT, SELLER IS TO NET $20,000.00 AT CLOSING. BUYER TO PAY ALL CLOSING COSTS, EXCEPT BROKER FEE ADDRESSED IN PARAGRAPH 9B. #2 4.82 ACRES WILL BE LOCATED IN VERY SW CORNER OF FARM AS MENTIONED ON THE SURVEY IN EXHIBIT A. LOCATION WILL BE MAINTAINED AND KEPT CLEAN, AND FENCED AFTER CONSTRUCTION. #3 SELLER REPRESENTS AND WARRANTS THAT ANY VERBAL LEASE CONCERNING THE PROPERTY WILL HAVE BEEN TERMINATED AND OF NO FURTHER EFFECTS ON THE DATE OF CLOSING. #4 TO THE EXTENT PERMITTED BY LAW, BUYER WILL INDEMNIFY, HOLD HARMLESS, AND DEFEND SELLER TO ALL CLAIM MATTERS INVOLVING SELLER, ARISING FROM CONSTRUCTION AND OPERATION OF THIS FACILITY. THIS PARAGRAPH WILL SURVIVE CLOSING. #5 THIS CONTRACT DOES NOT INCLUDE ANY COMPENSATION FOR THE TEMPORARY EASEMENT AND CROP DAMAGE. TEMPORARY EASMENT WILL BE NEGOTIATED WHEN THE BUYER KNOWS THE TIMELINE FOR CONSTRUCTION. #6 THE SELLER AND HOLDER OF THE MINERAL RIGHTS HEREBY AGREES NOT TO INTERFERE WITH STRUCTURES/FACILITIES ON THE BUYER'S PROPERTY WHILE ENGAGING IN THE EXTRACTION, CONVEYING, AND PRODUCTION OF MINERALS. IN ADDITION, THE SELLER AGREES THAT ANY MINERAL LEASES OR TRANSFERS ENTERED INTO WILL EXTEND THE SAME PROTECTION TO THE BUYER'S PROPERTY. Buyer: CITY OF LUBBOCK Buyer: (TAR-1937) 2-6-02 Seller- ,_C, J MMY CK LANCASTER N Seller: 2L Z; �;L __� BILLY tHARLES LANCASTER MCIDOUGAL REALTORS 4601 S LOOP 289. LUBBOCK TX 79424 Phone:8067930703 Fax- 8067967874 Brian Avcock Produced with ZipForm® by zipLogix 18070 Fifteen We Road. Fraser, Michigan 48026 www_zipLoctix.com Page 1 of 1 HHH.zfx Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. Information About Brokerage Services efore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner's agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer's agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly. IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owners agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owners agent anything the buyer would not want the owner to know because an owners agent must disclose to the owner any material information known to the agent. IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyers agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyers agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyers agent anything the owner would not want the buyer to know because a buyers agent must disclose to the buyer any material information known to the agent. IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the brokers obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) shall treat all parties honestly; (2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; (3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer, and (4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property. With the parties' consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party. If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the brokers obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding. Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee's records. Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (WC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512485-3960. 01A (TAR-2501) 1 /1 /96 MCDOUGAL REALTORS 4601 S LOOP 289, LUBBOCK TX 79424 Phone: 8067930703 Fax: 8067967874 Brian Aycock Produced with ZipFormO by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.com TREC N o HW PPONTHwiTY TY OPPO. OP-K Page 1 of 1 [[-z& �� Resolution No. 2009—RO196 TEXAS ASSOCIATION OF RFALTORSO INTERMEDIARY RELATIONSHIP NOTICE USE OF THIS FORM BY PERSONS M40 ARE NOT MEMBERS OF THE TEYAS ASSOCIATION OF REALTORSe IS NOT Au-n-IORLM0. OTOTai A4"09UPM of REALTORSO, Inc. ZW To: Jn*47 & SILj-j CHARI&S LANCASTER (Seller or Landlord) and CITY OF zdl !C (Prospect) From: NQP2gQ& REALTORS (Broker's Firm) ABSTRACT 309 SEC 1259 Re: SOUTELAN TX (Property) Date: A Under this notice, "owner" means the seller or landlord of the Property and "prospect" means the above -named prospective buyer or tenant for the Property. B. Broker's firm represents the owner under a listing agreement and also represents the prospect under a buyer/tenant representation agreement. C. In the written listing agreement and the written buyer/tenant representation agreement, both the owner and the prospect previously authorized Broker to act as an intermediary if a prospect who Broker represents desires to buy or lease a property that is listed by the Broker. When the prospect makes an offer to purchase or lease the Property, Broker will act in accordance with the authorizations granted in the listing agreement and in the buyerltenant representation agreement D. Broker ❑ will 0 will not appoint licensed associates to communicate with, carry out instructions of, and provide opinions and advice during negotiations to each party. If Broker makes such appointments, Broker appoints: to the owner, and to the prospect F. By acknowledging receipt of this notice, the undersigned parties reaffirm their consent for broker to act as an intermediary. F. Additional information (Disclose material information related to Broker's relationship to the parties, such as personal relationships or prior or contemplated business relationships.) The undersigned acknowledge receipt of this notice / r0 -te rSiller or Land of rd Date JIMMY LANCASTER Seller L.andk)rd Data BILLY CHARLES LANCASTER (TAR-1409) 1 -7-04 Prospect CITY OF LUBBOCK Prospect MCDOUGAL RE.ALTORS 4601 S LOOP 289, LUBBOCK TX 79424 Phone:8067930703 Fix $067967874 Brien Aycock Produced wob ZpForml by RE FormsNeL LLC 18070 Fifteen Mile Road, Framer, WoNgan 0026 wwwzpfwm.com Date Date Page 1 of 1 AAA.zBx BUYER: By: X ii4w• - 4wok� TOM MARTIN, MAYOR Executed by Buyer on the 14th day of !!a 112009. ATTEST: ec a Garza, City Secretary APPROVED AS TO CONTENT: Dave Booher, Right -of -Way Agent omas Adams, Deputy City Manager/Director of Water Utilities gs/Contract of Sale 2/19/09