Unimproved Property Contract (Page 3 of 8) in pdf

Contract Concerning

Page 3 of 8

02-13-06

(Address of Property)

annexation by the municipality. Each municipality maintains a map that depicts its

boundaries and extraterritorial jurisdiction. To determine if the Property is located within a

municipality’s extraterritorial jurisdiction or is likely to be located within a municipality’s

extraterritorial jurisdiction, contact all municipalities located in the general proximity of the

Property for further information.

(6) PROPERTY LOCATED IN A CERTIFICATED SERVICE AREA OF A UTILITY SERVICE PROVIDER:

Notice required by §13.257, Water Code: The real property, described in Paragraph 2, 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 Buyer 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 Paragraph 2 or at closing of purchase of the real property.

(7) PUBLIC IMPROVEMENT DISTRICTS:

If the Property is in a public improvement district,

§5.014, Property Code, requires Seller to notify Buyer as follows: As a purchaser of this

parcel of real property you are obligated to pay an assessment to a municipality or county

for an improvement project undertaken by a public improvement district under Chapter 372,

Local Government Code. The assessment may be due annually or in periodic installments.

More information concerning the amount of the assessment and the due dates of that

assessment may be obtained from the municipality or county levying the assessment. The

amount of the assessments is subject to change. Your failure to pay the assessments could

result in a lien on and the foreclosure of your property.

(8) TEXAS AGRICULTURAL DEVELOPMENT DISTRICT: The Property

is not located in a

Texas Agricultural Development District. For additional information, contact the Texas

Department of Agriculture.

7. PROPERTY CONDITION:

A. ACCESS,INSPECTIONS AND UTILITIES: Seller shall permit Buyer and Buyer’s agents access to

the Property at reasonable times. Buyer may have the Property inspected by inspectors

selected by Buyer and licensed by TREC or otherwise permitted by law to make inspections.

Seller at Seller's expense shall turn on existing utilities for inspections.

NOTICE: Buyer should determine the availability of utilities to the Property suitable to satisfy

Buyer’s needs.

B. ACCEPTANCE OF PROPERTY CONDITION: Buyer accepts the Property in its present condition;

provided Seller, at Seller’s expense, shall complete the following:

C. COMPLETION OF REPAIRS: Unless otherwise agreed in writing, Seller shall complete all agreed

repairs prior to the Closing Date. All required permits must be obtained, and repairs must be

performed by persons who are licensed or otherwise permitted by law to provide such repairs.

At Buyer’s election, any transferable warranties received by Seller with respect to the repairs

will be transferred to Buyer at Buyer’s expense. If Seller fails to complete any agreed repairs

prior to the Closing Date, Buyer may do so and receive reimbursement from Seller at closing.

The Closing Date will be extended up to 15 days, if necessary, to complete repairs.

D. ENVIRONMENTAL MATTERS: Buyer is advised that the presence of wetlands, toxic substances,

including asbestos and wastes or other environmental hazards, or the presence of a

threatened or endangered species or its habitat may affect Buyer’s intended use of the

Property. If Buyer is concerned about these matters, an addendum promulgated by TREC or

required by the parties should be used.

E. SELLER’S DISCLOSURES: Except as otherwise disclosed in this contract, Seller has no

knowledge of the following:

(1) any flooding of the Property;

(2) any pending or threatened litigation, condemnation, or special assessment affecting the

Property;

(3) any environmental hazards or conditions affecting the Property;

(4) any dumpsite, landfill, or underground tanks or containers now or previously located on the

Property;

(5) any wetlands, as defined by federal or state law or regulation, affecting the Property; or

(6) any threatened or endangered species or their habitat affecting the Property.

8. BROKERS' FEES: All obligations of the parties for payment of brokers’ fees are contained in separate

written agreements.

9. CLOSING:

A. The closing of the sale will be on or before

, 20

, or within 7 days

after objections made under Paragraph 6D have been cured or waived, whichever date is later

Initialed for identification by Buyer

and Seller

TREC NO. 9-6

Page 3 of 8

(TAR-1607) 2-13-06

Unimproved Property Contract Page 3

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