Agreement Of Purchase And Sale
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30AGREEMENT OF PURCHASE AND SALE
_________, Houston, Texas _______
This Agreement of Purchase and Sale (“Agreement”) is made and entered into by and between
Purchaser and Seller.
RECITALS
A.
Defined terms are indicated by initial capital letters. Defined terms shall have the meaning set
forth herein, whether or not such terms are used before or after the definitions are set forth.
B.
Purchaser desires to purchase the Property and Seller desires to sell the Property, all upon the
terms and conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the mutual terms, provisions, covenants and
agreements set forth herein, as well as the sums to be paid by Purchaser to Seller, and for other good and
valuable consideration, the receipt and sufficiency of which are acknowledged, Purchaser and Seller agree
as follows:
ARTICLE 1 - Basic Information
1.1
Certain Basic Terms. The following defined terms shall have the meanings set forth
below:
1.1.1
Seller:
ABC, Ltd.,
a Texas limited partnership
1.1.2
Purchaser:
DEF, Trustee
1.1.3
Purchase Price: $4,000,000.00
1.1.4
Earnest Money: $100,000.00 (the “Initial Earnest Money”), including
interest thereon, to be deposited in accordance with Section 3.1 below, to
be increased by $100,000.00 (each $100,000.00 increase in the Earnest
Money is referred to as an “Additional Earnest Money Deposit” and all
Additional Earnest Money Deposits are collectively referred to as the
“Additional Earnest Money”) for each thirty (30) day extension of the
Closing Date as limited and as detailed in Section 7.1.
The Initial
Earnest Money and the Additional Earnest Money are collectively
referred to as the "Earnest Money".
1.1.5
Title Company:
Chicago Title Insurance Company
Attention: _____
_______________
Houston, TX ______
Telephone: 713-zzz-zzzz
Facsimile: 713-zzz-zzzz
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H-Earnest Money Contract
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