Form Tar 1601 - One To Four Family Residential Contract (Resale) (Page 8 of 9) in pdf

4-28-2014

Contract Concerning

Page 8 of 9

(Address of Property)

22. AGREEMENT OF PARTIES:

This contract contains the entire agreement of the parties and

cannot be changed except by their written agreement. Addenda which are a part of this contract

are (Check all applicable boxes):



Third Party Financing Addendum for Credit

Environmental Assessment, Threatened or

Approval

Endangered Species and Wetlands

Addendum



Seller Financing Addendum



Seller’s Temporary Residential Lease



Addendum for Property Subject to



Mandatory Membership in a Property

Short Sale Addendum

Owners Association



Addendum for Property Located Seaward



Buyer’s Temporary Residential Lease

of the Gulf Intracoastal Waterway



Loan Assumption Addendum

Addendum for Seller's Disclosure of

Information on Lead-based Paint and Lead-



Addendum for Sale of Other Property by

based Paint Hazards as Required by

Buyer

Federal Law



Addendum for Reservation of Oil, Gas

Addendum for Property in a Propane

and Other Minerals

Gas System Service Area



Addendum for "Back-Up" Contract

Other (list):



Addendum for Coastal Area Property

23. TERMINATION

OPTION:

For nominal consideration, the receipt of which is hereby

acknowledged by Seller, and Buyer's agreement to pay Seller $

(Option Fee)

within

[2]

days after the effective date of this contract, Seller grants Buyer the unrestricted

right to terminate this contract by giving notice of termination to Seller within

days after

the effective date of this contract (Option Period). If no dollar amount is stated as the Option Fee

or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not

be a part of this contract and Buyer shall not have the unrestricted right to terminate this

contract. If Buyer gives notice of termination within the time prescribed, the Option Fee will not



be refunded; however, any earnest money will be refunded to Buyer. The Option Fee

will

not be credited to the Sales Price at closing. Time is of the essence for this paragraph and

strict compliance with the time for performance is required.

24. CONSULT AN ATTORNEY

BEFORE

SIGNING:

TREC rules prohibit real estate licensees from

giving legal advice. READ THIS CONTRACT CAREFULLY.

[If you do not understand the effect

of this contract, consult an attorney BEFORE signing.]

Buyer's

Seller's

Attorney is:

Telephone: (

)

Telephone: (

)

Facsimile:

(

)

Facsimile:

(

)

E-mail:

EXECUTED the

day of

, 20

(EFFECTIVE DATE).

(BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.)

Buyer

Seller

Buyer

Seller

The form of this contract has been approved by the Texas Real Estate Commission.

TREC forms are intended for use only by tr ained real estate

licensees. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for

complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, (512) 936-3000 ( )

[11]. This form replaces TREC NO.

[10].

TREC NO.

20-12

20-11

Page 103 of 358

Initialed for identification by Buyer

and Seller

TREC NO.

20-12

TAR 1601

Form Tar 1601 - One To Four Family Residential Contract (Resale) Page 8

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