1993-150i E:\WPDOCS\WORK\HOLLAKD.O
NO. 3 -/Jxz
AN ORDINANCE OF THE CITY OF DENTON, TEXAS, AUTHORIZING THE MAYOR TO
EXECUTE A CONTRACT BETWEEN THE CITY AND WILLIAM AND ELIZABETH
HOLLAND FOR THE PURCHASE OF REAL PROPERTY; AUTHORIZING THE EXPEN-
DITURE OF FUNDS; AND PROVIDING FOR AN EFFECTIVE DATE.
THE CITY COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION I. That it approves the attached agreement between the
City of Denton and William and Elizabeth Holland and authorizes the
Mayor to execute the agreement on behalf of the City.
SECTION II. That it authorizes the expenditure of funds in ac-
cordance with the terms of the agreement.
SECTION III. That this ordinance shall become effective imme-
diately upon its passage and approvall✓/
PASSED AND APPROVED this the 6qo day of ,
1993.
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY
APPROVED AS TO LEGAL FORM:
D BRA A. DRAYOVITCH, CITY ATTORNEY
BY
DATE: August 17, 1993
CITY COUNCIL AGENDA ITEM
TO: Mayor and Members of the City Council
FROM: Lloyd V. Harrell, City Manager
SUBJECT: ADOPTION OF AN ORDINANCE AUTHORIZING THE PURCHASE OF .852
ACRES OF PROPERTY ON FOSTER ROAD
RECOMMENDATION:
The Planning and Zoning Commission recommends approval.
SUMMARY:
The property is currently owned by Mr. and Mrs. William Holland and
consists of .852 acres. The property contains a 720 square foot
mobile home, an outbuilding and several large trees. The property
is located on Foster Road just east of Mayhill and is several
hundred yards from the existing landfill. If acquired, this
property would, in all likelihood, be used as a buffer area for an
expanded landfill. The total purchase price for this property is
$25,000.
No additional background is available.
PROGRAMS, DEPARTMENTS OR GROUPS AFFECTED:
The Holland Family, the City of Denton Solid Waste Division, and
the Citizens of Denton.
FISCAL IMPACT:
$25,000
Respect llyysubmitted,
# '4//~ U /
Lloyd . Harrell
City Manager
by
Bill Angelo
Director of Community Services
R. E. Nelsoif
Executive Director of Utilities
A7093C
® TEXAS ASSOCIATION OF REALTORS'
03-17-92
ONE TO FOUR FAMILY RESIDENTIAL EARNEST MONEY CONTRACT (RESALE)
r" ALL CASH, ASSUMPTION, THIRD PARTY CONVENTIONAL OR SELLER FINANCING
PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC)
NOTICE: Not For Use For Condominium Transactions
I. PARTIES: WILLIAM HOT-LAND AND ELIZABETH HOLLAND (Seller) agrees to sell
and convey to CITY OF DENTON (Buyer) and Buyer
agrees to buy from Seller the property described below.
2. PROPERTY: Lot Block A1330A G. WALKER, TRACT 68.ACRES 0.852 OLD
Addition, City of DCAD TR 18C (2) County, Texas,
known as 4196 FOSTER ROAD (Address), or as described on attached
exhibit, together with the following items, if any: curtains and rods, draperies and rods, valances, blinds, window shades, screens,
shutters, awnings, wall-to-wall carpeting, mirrors fixed in place, ceiling fans, attic fans, mail boxes, television antennae and
satellite dish, permanently installed heating and air conditioning units and equipment, built-in security and fire detection equipment,
lighting and plumbing fixtures, water softener, built-in kitchen equipment, garage door openers with controls, built-in cleaning
equipment, all swimming pool equipment, shrubbery, permanently installed outdoor cooking equipment, built-in fireplace screens
and all other property owned by Seller and attached to the above described real propertyr
All property sold by this contract is called the "Property." The Property ❑ is ® is not subject to mandatory membership in an
owners' association and its assessments and requirements.
3. SALES PRICE:
A. Cash portion of Sales Price payable by Buyer $25.000
B. Sum of notes described below (excluding any private mortgage insurance [PMI] premium) $
C. Sales Price (Sum of A and B) $$25,000
000
11
the notes and d s of trust.
NOTICE SELLER: Your liability to pay the note assumed by Buyer will continue unless you obtain a re a of liability.
If you concerned about future liability, you should use the TREC Release of Liability Addendum.
❑ B. IRD PARTY FINANCING:
to (1) above or $ in (2) above Seller declines pay such excess, or (b) an increase in the interest
rate to more than % in (1) above, % in (2) above, o c) any other modification of the loan documents,
Buyer may terminate this contract and Earnest Money shall be refund Buyer. A vendor's lien and deed of trust to
secure assumption shall be required ich shall automatically be released on execu ' n and delivery of a release by noteholder.
If Seller is released -from liabili on any assumed note, the vendor's lien and deed o st to secure assumption shall not be
required.
NOTICE TO BUYER- a monthly payments, interest rates or other terms of some loans may adjusted at or after closing
by the lender. If y are concerned about the possibility of future adjustments, do not sign the co act without examining
Buyer's assumption of an existing note i ludes all obligations imposed the deed of trust securing the note.
If the unpaid balance(s) of any assumed 1 (s) as of the closin ate varies from the loan balance(s) stated above, the
❑ cash payable at closing ❑ sales price shall b dusted by amount of any variance; provided, if the total principal
balance of all assumed loans varies in an amount gr r t $350.00 at closing, either party may terminate this contract
and the Earnest Money shall be refunded to Buyer unl 'they party elects to eliminate the excess in the variance by an
appropriate adjustment at closing. If the noteholder uires (a ayment of assumption costs in excess of $
ASSUMPTION:
Buyer shall assume the unpaid principal balance of a first lien promissory note payable to
which unpaid b ce at closing will be
$ The total current monthly payment including principal, int st and reserve deposits is
$ Buyer's initial payment shall be the first payment due er closing.
(2) Buyer shall !n! e unpaid principal balance of a second lien promissory no payable to
hich unpaid balance at closing will be
$ The total current monthly payment includi principal, interest and reserve deposits is
$ uyer's initial payment shall be the fi payment due after closing.
001A
Initialed for identification by Buyer XXLJ and Seller GUT,( TREC NO. 20-1
mA0 MAN V-1 zim
One to Four Family Residential Earnest Money Contract Concerning 1 A6 FnCTFR ROAT) T)FNTnM , TES Page Two 0347-92
(Address of Property)
❑ C.
❑ D.
❑E
Within
of any
approval
any fin
o e loan. The loan shall be E] with E] without PMI.
❑ (2) A thir arty second lien note of $ due in full in year(s), wit feces[ not
to exceed % per annum for the first year(s) of the loan.
assumption shall make every reasonable effort to obtain financing or assumption approval. Financing o sumption
al shall deemed to have been obtained when Buyer has satisfied all of lender's financial conditions. If financing (in ding
an PMI premium) or assumption approval is not obtained within days from the effective date hereof, t
TEXAS VETERA14 ' HOUSING ASSISTANCE PROGRAM LOAN:
A Texas Veterans' Hous Assistance Program Loan (the Program Loan) of $ for a period
of at least yea t the interest rate established by the Texas Veterans' Board at the time of closing.
SELLER FINANCING: A promis note from Buyer to Seller of $ bearing %
interest per annum, secured by vendor d deed of trust liens, in accordance ith the terms and conditions set forth in
the attached TREC Seller Financing Adden . If an owner policy of ti insurance is furnished, Buyer shall furnish
Seller with a mortgagee policy of title insurance.
CREDIT APPROVAL ON ASSUMPTION OR SEL FIN ING: Within days from the effective date of
this contract, Buyer shall deliver to Seller documen n which Seller deems sufficient to establish Buyer's
creditworthiness for assumption approval or seller fins g. If B is documentation is not delivered within the specified
time, Seller may terminate this contract by notic o Buyer within s after expiration of the time for delivery, and
the Earnest Money shall be paid to Seller. If is contract is not so term[ ed, Seller shall be deemed to have accepted
Buyer's credit. If the documentation is ' ely delivered, and Seller determin in Seller's sole discretion that Buyer's
credit is unacceptable, Seller may t 'nate this contract by notice to Buyer within ys after expiration of the time for
delivery and the Earnest Mon shall be refunded to Buyer. If Seller does not so termin this contract, Seller shall be
deemed to have accepte uyer's credit. Buyer hereby authorizes any credit reporting age to furnish to Seller at
Buyer's sole experts opies of Buyer's credit reports.
days fr he effective date of this contract Buyer shall apply for all third party financing or note der's approval
shall terminate and the Earnest Money shall be refunded to Buyer.
5. EARNEST MONEY: Buyer shall deposit $ $1,000 as Earnest Money with 4AFFCO TITLE COMPANY
at 62S DALLAS DRIVE
(Address), as Escrow Agent, upon execution of this contract by both parties. ❑ Additional Earnest Money of $
shall be deposited by Buyer with the Escrow Agent on or before 19 . If Buyer fails to deposit
the Earnest Money as required by this contract, Buyer shall be in default.
6. TITLE POLICY, ABSTRACT AND SURVEY:
® A. TITLE POLICY: Seller shall furnish to Buyer at Seller's expense an Owner Policy of Title Insurance (the Title Policy)
issued by SAFFro TTTT F COMPANY (the Title Company) in the
amount of the Sales Price, dated at or after closing, insuring Buyer against loss under the provisions of the Title Policy,
subject to the promulgated exclusions (including existing building and zoning ordinances) and the following exceptions:
(1) Restrictive covenants common to the platted subdivision in which the Property is located.
(2) The standard printed exception for standby fees, taxes for the current and subsequent years, and subsequent
assessments for prior years due to changes in land usage or ownership.
(3) Liens created as part of the financing described in Paragraph 4.
(4) Utility easements created by the dedication deed or plat of the subdivision in which the Property is located.
(5) Reservations or exceptions otherwise permitted by this contract or as may be approved by Buyer in writing.
(6) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines,
encroachments or protrusions, or overlapping improvements.
(7) The standard printed exception as to marital rights.
(8) The standard printed exception as to waters, tidelands, beaches, streams, and related matters.
Seller, at Seller's expense, shall deliver to Buyer within 20 days after the effective date of this contract a commitment for
Title Insurance (the Commitment) and at Buyer's expense, legible copies of restrictive covenants and documents evidencing
exceptions in the Commitment other than the standard printed exceptions. Buyer shall have 5 days after the receipt of the
Commitment to object in writing to matters disclosed in the Commitment. Buyer may not object to items 6A(1) through
(8) above unless Buyer determines that any such item prohibits the following use or activity: use of P rn ertjj
as a potential landfill site
❑ B.
company (a) from the sovereignty to the effe a Abstract) and (b) supplemented to
Initialed for identification by Buyer A2~cz and
TREC NO. 20-1
One to Four Family Residential Earnest Money Contract Concerning 41 86 FOSTER ROAD DENTON, TEXAS Page Three 03-17-92
(Address of Property)
by an a ey selected by Buyer. Buyer shall have 20 days after the receipt of the Complete Abstract to objectirrwriting
to matters disc in the Complete Abstract.
C. SURVEY REQUIR ithin days after loan approval if a third-party loan is involy , or if no third-party loan
is involved, within s from the effective date of this contract, Seller shall tsh to Buyer at Buyer's expense
a plat of a current survey identifyin Property by metes and bounds or ed lot description. The survey shall be
prepared by a Registered Professional Lan eyor acceptableto-tw-Title Company and any lender. The plat shall
contain the surveyor's certificate that: (a) the surve as
e'and staked on the ground and comers are marked with
permanent monuments; (b) the plat shows the locati k-cif rovements, highways, streets, roads, railroads, rivers,
creeks or other waterways, fences, easement rights-of-way o contiguous to the Property with all easements and
rights-of--way referenced to their reco g information; (c) there are no dt ancies or conflicts in boundaries, or visible
encroachments, except as sh on the plat; (d) the Property does or does not
01411 the 100-year Floodplain, and any
portion lying within t oodplain has been designated on the plat; (e) the survey is true correct; and (f) the plat sets
forth the dim ons and total area of the Property. Buyer shall have 5 days after the receipt oft t to object in writing
to all ers shown on the plat which constitute defects or encumbrances to title; however, utility ease is created by
Buyer's failure to object under Paragraph 6A, 6B-er-6ewithin the time allowed shall constitute a waiver of Buyer's right to
object; except that the requirements in Schedule C of the Commitment shall not be deemed to have been waived. If objections are
made by Buyer or any third party lender, Seller shall cure the objections within 15 days from the date Seller receives them and
the Closing Date shall be extended as necessary. If objections are not cured by the extended Closing Date, this contract shall
terminate and the Earnest Money shall be refunded to Buyer unless Buyer elects to waive the objections.
NOTICE TO SELLER AND BUYER:
(1) Broker advises Buyer to 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.
(2) If a Title Policy is furnished, the Commitment should be promptly reviewed by an attorney of Buyer's choice due to the time
limitations on Buyer's right to object.
(3) If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control
facilities and services, Chapter 50 of the Texas Water Code requires Seller to deliver and Buyer to sign the statutory notice
relating to the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of this contract.
7. PROPERTY CONDITION: (Check one box only)
fg A. Buyer accepts the Property in its present condition, subject only to lender required repairs and the following repairs:
E] B. Buyer accepts the Property in its present condition subject to lender required repairs and those repairs designated by Buyer
pursuant to the attached Property Condition Addendum.
REPAIR OBLIGATIONS WHICH APPLY TO A AND B: Seller shall pay for only those repairs required by A or B. Seller shall
pay the cost of turning on utilities for inspections and reinspections. Buyer shall pay for inspections, reinspections, reports and
certificates.
If the cost of treatment and repairs resulting from termites or other wood-destroying insects will not exceed $ and if
the cost of all other repairs will not exceed $ , Seller shall complete the treatment and repairs prior to the Closing Date.
Within 7 days after receipt of all inspection reports and Buyer's designation of repairs, Seller shall notify Buyer as to the cost
of repairs and whether Seller will pay any excess costs. If Seller fails to notify Buyer or refuses to pay the excess costs, Buyer
may (a) pay the excess costs, (b) accept the limited repairs, unless prohibited by lender, or (c) terminate this contract and the
Earnest Money shall be refunded to Buyer. Buyer shall notify Seller of Buyer's election within 5 days after Buyer is notified of
Seller's refusal to pay excess costs. If Seller fails to notify Buyer, Buyer shall notify Seller of Buyer's election within 12 days after
Seller receives all inspection reports and Buyer's designation of repairs. Buyer's failure to make a timely election shall be deemed
as Buyer's election to accept the Property with the costs of treatment and repair limited to the maximum amounts stated above.
If the total cost of treatment and repairs exceeds 5% of the Sales Price and Seller agrees to pay all treatment and repair costs,
Buyer may (a) accept the Property with the completed treatment and repairs, or (b) terminate this contract and the Earnest Money
shall be refunded to Buyer. Buyer shall make this election within 5 days after Seller notifies Buyer of Seller's willingness to
pay all costs of treatment and repair. Buyer's failure to make such election within the 5-day period shall be deemed as Buyer's
election to accept the completed repairs.
If Seller fails to complete any agreed repairs, Buyer may, in addition to the remedies provided in Paragraph 15, do so and Seller
shall be liable up to the maximum agreed amount which shall be deducted from the sales proceeds or collected from Seller at
closing.
001A
Initialed for identification by Buyer zolef -e and Seller'U ` , , TREC NO. 20-1
One to Four Family Residential Earnest Money Contract Concerning 4186 FOSTFR ROAD 11FNTON, TFXAq Page Four 03-17-92
(Address of Property)
8. BROKER'S FEE: WILLIAMS AND WILLIAMS REALTORS
(Listing Broker) represents Seller. Any other broker is:
(n Listing Broker's subagent representing Seller; or
C] Buyer's agent.
Seller shall pay Listing Broker as specified by separate agreement between Listing Broker and Seller. In the event of Buyer's
default, Listing Broker shall receive one-half of any Earnest Money which Seller receives under Paragraph 15, not to exceed the
amount of the fee specified in the separate agreement. Escrow Agent is authorized and directed to pay Listing Broker said fee.
9. CLOSING: The closing of the sale shall be on or before sF.PT • 10 , 19 9-1 , or within 7 days after
objections to title and 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 requirements (for example, survey, insurance policies, property repairs, 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. At closing Seller shall furnish tax statements showing no delinquent taxes, a Supplemental Abstract,
when applicable, showing no additional title exceptions, and a General Warranty Deed conveying good and indefeasible title
subject only to those exceptions permitted in Paragraph 6.
10. POSSESSION: Seller shall deliver possession of the Property to Buyer on CLOSING PLUS TWO WEEKS
in its present or required repaired condition, subject to the dollar limitations of Paragraph 7, ordinary wear and
tear excepted. Any possession by Buyer prior to closing or by Seller after closing that is not authorized by a temporary lease
form promulgated by TREC or required by the Parties shall establish a landlord-tenant at sufferance relationship between the
parties. Consult your insurance agent prior to change of possession as insurance coverage may be limited or terminated.
11. SPECIAL PROVISIONS: [Insert only factual statements and business details applicable to this sale. A licensee shall not add to
a promulgated earnest money contract form factual statements or business details for which a contract addendum, lease or other
form has been promulgated by TREC for mandatory use. 22 TAC §537.11 (d).]
1 HOT TUB, SHELVES OVER WINDOWS, WINDOW UNIT IN MASTER BEDROOM DOES NOT STAY WITH SALE
OF PROPERTY,. PICKET FENCE AND RUNNERS, FOUR MAGNOLIA TREES AND TWO ROSE BUSHES, are
also to be removed by the however fence posts wi11 rer..ain.
12. SALES EXPENSES: The following expenses shall be paid at or prior to closing:
A. Appraisal fees shall be paid by N/A
B. The total of loan discount and buydown fees (excluding any Texas Veterans' Housing Assistance Program Participation Fee)
shall not exceed N/A % of the loan of which Seller shall pay the first N/A and Buyer shall pay the remainder.
C. Seller's Expenses: Releases of existing liens, including prepayment penalties and recording fees; release of Seller's loan lia-
bility; tax statements or certificates; preparation of deed; one-half of escrow fee; preparation and recording of deed of trust
to secure assumption; Texas Veterans' Housing Assistance Program Participation Fee not to exceed $ N/A ; owner
title policy guaranty and recoupment fees; and other expenses stipulated to be paid by Seller under other provisions of this
contract.
D. Buyer's Expenses: Loan application, origination and commitment fees; loan assumption costs; lender required expenses
incident to new loan(s): (for example, PMI premium, preparation of loan documents, survey, recording fees, tax service
and research fees, warehouse or underwriting fees, copies of restrictions and easements, amortization schedule, premiums
for mortgagee title policies and endorsements required by lender, credit reports, photos; mortgagee title policy guaranty
and recoupment fees); required premiums for flood and hazard insurance; required reserve deposit for insurance premiums
and ad valorem taxes; interest on all monthly installment payment notes from date of disbursements to (1) month prior to
dates of first monthly payments; customary Program Loan costs for Buyer; one-half of escrow fee; and other expenses
stipulated to be paid by Buyer under other provisions of this contract.
E. PMI premium not to exceed $ N/A shall be paid by Buyer, and paid in cash at closing E:] added to
the amount of the loan.
F. If any sales expense exceeds the amount stipulated to be paid by either party, either party may terminate this contract unless
either party agrees to pay such excess. In no event shall Buyer pay charges and fees expressly prohibited by the Texas
Veteran's Housing Assistance Program or other government loan program regulations.
001A
Initialed for identification by Buyer / and Seller TREC NO. 20-1
One to Four Family Residential Eamest Money Contract Concerning 4186 FOSTER ROAD DENTON, TEXAS Page Five 03-17-92
(Address of Property)
1.3. PRORATIONS: Flood and hazard insurance premiums, taxes for the current year, interest, maintenance fees, assessments
and rents shall be prorated through the Closing Date. However, if a loan is assumed and the lender maintains an escrow account
for the payment of taxes and insurance, the above itemsgj shall C] shall not be prorated. Whether or not prorations are made,
the escrow account shall be transferred to Buyer without any deficiency. If proration are made Buyer shall reimburse Seller
for the amount in the transferred account. If prorations are not made, the escrow account shall be transferred to Buyer without
reimbursement to Seller. If a transfer is permitted by the insurance carrier, the insurance policy in force ® shall ❑ shall not
be transferred to Buyer. Buyer shall be obligated to pay taxes for the current year, and if the insurance policy in force is not
transferred, Buyer shall pay the premium for a new policy.
14. CASUALTY LOSS: If any part of the Property is damaged or destroyed by fire or other casualty loss, Seller shall restore the
Property to its previous condition as soon as reasonably possible, but in any event by the Closing Date. If Seller is unable to do
so without fault, Buyer may either (1) terminate this contract and the Earnest Money shall be refunded to Buyer (2) extend the
time for performance up to 15 days and the Closing Date shall be extended as necessary or (3) accept the Property in its
damaged condition and accept an assignment of insurance proceeds. Provisions of the Texas Property Code to the contrary shall
not apply.
15. DEFAULT: If Buyer fails to comply with this contract, Buyer shall be in default, and Seller may either (a) enforce specific
performance, seek such other relief as may be provided by law, or both, or (b) terminate this contract and receive the Earnest
Money as liquidated damages, thereby releasing both parties from this contract. If Seller is unable without fault within the time
required to make any non-casualty repairs or deliver the Commitment, Survey or the Complete Abstract, Buyer may either
terminate this contract and receive the Earnest Money as the sole remedy or extend the time for performance up to 15 days and
the Closing Date shall be extended as necessary. If Seller fails to comply with this contract for any other reason, Seller shall
be in default and Buyer may either (1) enforce specific performance, seek such other relief as may be provided by law, or both,
or (2) terminate this contract and receive the Earnest Money, thereby releasing both parties from this contract.
16. ATTORNEY'S FEES: If Buyer, Seller, Listing Broker, Other Broker or Escrow Agent is a prevailing party in any legal
proceeding brought under or with relation to this contract, such party shall be entitled to recover from the non-prevailing party
all costs of such proceeding and reasonable attorney's fees.
17. ESCROW: The Earnest Money is deposited with Escrow Agent with the understanding that Escrow Agent is not (a) a party
to this contract and does not have any liability for the performance or non-performance of any party to this contract, (b) liable
for interest on the Earnest Money or (c) liable for any loss of Earnest Money caused by the failure of any financial institution in
which the Earnest Money has been deposited unless the financial institution is acting as Escrow Agent. If either party makes
demand for the payment of the Earnest Money, Escrow Agent has the right to require from all parties and brokers a written release
of liability of Escrow Agent for disbursement of the Earnest Money. Any refund or disbursement of Earnest Money under this
contract shall be reduced by the amount of unpaid expenses incurred on behalf of the party receiving the Earnest Money, and
Escrow Agent shall pay the same to the creditors entitled thereto. At closing, the Earnest Money shall be applied first to any cash
down payment, then to Buyer's closing costs and any excess refunded to Buyer. Demands and notices required by this paragraph
shall be in writing and delivered by hand delivery or by certified mail, return receipt requested.
18. REPRESENTATIONS: Seller represents that as of the Closing Date (a) there will be no liens, assessments, Uniform Commercial
Code or other security interests against the Property which will not be satisfied out of the Sales Price unless securing payment of
any loans assumed by Buyer and (b) assumed loans will be without default. If any representation in this contract is untrue on the
Closing Date, this contract may be terminated by Buyer and the Earnest Money shall be refunded to Buyer. All representations
contained in this contract and an agreement for mediation shall survive closing.
19. NOTICES: All notices shall be in writing and effective when delivered at the addresses shown below.
20. FEDERAL TAX REQUIREI ENT: If Seller is a "foreign person", as defined by applicable law, or if Seller fails to deliver an
affidavit that he is not a "foreign person", then Buyer shall withhold from the sales proceeds an amount sufficient to comply with
applicable tax law and deliver the same to the Internal Revenue Service together with appropriate tax forms. IRS regulations
require filing written reports if cash in excess of specified amounts is received in the transaction.
21. NOTICE TO PARTIES: It is the policy of the State of Texas to encourage the peaceable resolution of disputes through alternative
dispute resolution procedures. Therefore, if a dispute arises in relation to this contract which cannot be resolved in good faith
through informal discussion, the parties are encouraged to submit the dispute to mediation as set forth in an addendum either
approved by TREC or required by the parties.
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 (list):
Initialed for identification by Buyer Alff.1J and Selle4AC V
TREC NO. 20-1
One to Four Family Residential Farnest Money Contract Concerning 4186 FOSTER. DENTON, TEXAS Page Six 03-17-92
(Address of Property)
23. CONSULT YOUR ATTORNEY: Brokers cannot give legal advice. This is intended to be a legally binding contract. READ IT
CAREFULLY. If you do not understand the effect of this contract, consult your attorney BEFORE signing.
APPROVED AS TO LEGAL FORM: Debra A. Drayovitch,
Buyer's City Attorney Seller's
,]Attorney,. W4-kA
a_ C Attorney: /y
EXECUTED in multiple originals the 4Z r day of 19 Q3 (THE EFFECTIVE DATE).
(BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE AND E P TIES' ADDRESS S.)
CITY OF T N, EXA
By ,
F4 A/
Buyer BOB CASTLEBERRY, MAYOR Seller William Holland
Buyer Seller E1 ' Beth Holland
295 E. McKinney Street
Denton, TX 76201 566-5307
Buyer's Address
Phone No. Seller's Address
Phone No.
The form of this contract has been approved by the Texas Real Estate Commission. Such approval relates to
this contract form only. No representation is made as to the legal validity or adequacy of any provision in any
specific transaction. It is not suitable for complex transactions. Extensive riders or additions are not to be
used. (03-92) TREC NO. 20-1. This form replaces TREC NO. 20-0.
AGREEMENT BETWEEN BROKERS
Listing Broker agrees to pay WT7 T TAMS ANn WTT T TAMS REALTORS 192311 , Other
Broker, a fee of F of the total sales price when the Listing Broker's fee described in Paragraph 8 is received.
Escrow Agent is authorized and directed to pay Other Broker from Listing Broker's fee at closing.
_
CAME WTT T TAMQ AND WI T TAMS, REALTORS 159311
Other Broker License No. Listing Broker License No.
By:
Other Broker's Address
By: ANNA BT AT OCY / L?~%~ '~J~F7
27in N ELM DENTON~ TEXAS 76201 -
Listing Broker's Address 383-2712 Phone No.
Phone No.
RECEIPT
Receipt of 0 Contract and 0 $ Earnest Money in the form of -
is acknowledged and is accepted subject to the terms and conditions of the Earnest Money Contract.
Escrow Agent: By: -
Date: 19 -
Address
City State Zip Code
1 ACI. 1V V. LV-1
Y
SAFECO GF# 30510.MH
2251
Prepared by the State Bar of Texas for use by lawyers only.
Revised 10-8S
01985 by the State Bar of Texas
WARRANTY DEED
r
Date: September 2, 1993
Grantor: ELIZABETH HOLLAND F/K/A ELIZABETH FUNDERBURK AND HUSBAND,
WHJ IAM L. HOLLAND
Grantor's mailing address: (INCLUDING COUNTY)
Route 3, Box 179
Aubrey, Texas 76227
Grantee: THE CITY OF DENTON, TEXAS
Grantee's mailing address: (INCLUDING COUNTY)
215 E. McKinney St.
Denton, Texas 76202
Consideration:
The sum of Ten and No/100 -($10.00) and other good and valuable consideration, and the further consideration of
ALL CASH
Property: (INCLUDING ANY IMPROVEMENTS)
All that certain tract or parcel of land situated in the GIDEON WALKER SURVEY, ABSTRACT 1330, Denton County,
Texas, being part of a certain 42.5 acre tract deeded by N. A. Lowe et ux to W. A. Coyle et ux on January 10, 1953,
recorded in Volume 385, page 177, Deed Records of said County, and being more particularly described as follows:
BEGINNING at the Northeast corner of a 0.853 acre tract out of the Northwest corner of said 42.5 acre tract in the middle
of a public road at a point S. 88 degrees 22 minutes E. 215.9 feet from the Northwest corner of said 42.5 acre tract;
THENCE S. 88 degrees, 22 minutes East with the North line of said 42.5 acre tract 215.0 feet to a corner;
THENCE S. 3 degrees 51 minutes W. with a fence 172.7 feet to a steel pin;
THENCE N. 88 degrees 22 minutes W. 215.0 feet to a steel pin at the Southeast corner of said 0.853 acre tract;
THENCE N. 3 degrees 51 minutes E. 172.7 feet to the PLACE OF BEGINNING.
RESERVATIONS FROM AND EXCEPTIONS TO CONVEYANCE AND WARRANTY:
This conveyance is made and accepted subject to any and all easements, reservations, restrictions, conditions and matters
of record as same may affect the herein described property.
Grantor, for the consideration and subject to the reservations from and exceptions to conveyance and warranty,
grants, sells, and conveys to Grantee the property, together with all and singular the rights and appurtenances thereto in any
wise belonging, to have and hold it to Grantee, Grantee's heirs, executors, administrators, successors, or assigns forever.
Grantor binds Grantor and Grantor's heirs, executors, administrators, and successors to warrant and forever defend all and
singular the property to Grantee and Grantee's heirs, executors, administrators, successors, and assigns against every person
whomsoever lawfully claiming or to claim the same or any part thereof, except as to the reservations from and exceptions
to conveyance and warranty.
When context requires singular nouns and pronouns include the plural.
Grantee herein assumes all taxes for the year 1993.
ELIZ HOLLAND
0
1,17
WiIUJ~W L. HOLLAND
(ACKNOWLEDGEMENT)
STATE OF TEXAS
COUNTY OF DENTON
This instrument was acknowledged before me on thar::17944-1day of September, 1993, by ELIZABETH HOLLAND
F/K/A ELIZABETH FUNDERBURK AND HUSBAND, WILLIAM L. HOLLAND.
JAMIE KINDIGER fary'6 Printed
NOTARY PUBLIC ary's Comm'
State of Texas
Comm, Exp. 11-17-94
PREPARED IN THE LAW OFFICE OF:
i nc ~p 1 r ur Licrv i vn, i c vaa NORMA LEA BEASLEY
216 E. McKINNEY ST. 1610 PACIFIC AVENUE
DENTON, TEXAS 76202 DALLAS, TX 76201
ATTN: CITY SECRETARY
OF THE DES9RIBE0 REAL PROPERTY BECAUSE Of COLOR OAR PAOR USE
CE IS
TNES7AANDUNXAS ilCEASLEUfIDERFEDERALLAW.
COUNTYOFOENTON
I hereby cenNVlhaithisIrMO entYrasFlLEDinlheFlbNumherSeCUenaon
OttkalFu6~ChReacordam;rdh81wnn~ as:wmI rasnXMexas nDED.Mthe
SEP 0 7 1993
C
Q~yi i
DENTON COUNTY, TEXAS
.
Piled for Record in:
DENTON COUNTY, TX
HONORABLE TIM HODGES
/COUNTY CLERK
On 1993/09/07
At E:33P
Number: 93-ROO62328
Type : WD 13.00