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CF-Thweatt Park-CS911011"WCAGO TITLE INSURANCE COA' - 4LNY SELLER'S SETTLEMENT STATEMENT ESCROW NUMBER: 000404053 CLOSING DATE: 10/11/91 BUYER: CITY OF COPPELL, TEXAS, a municipal corp SELLER: THOMAS J. MCHALE and KATHERINE R. MCHALE PAGE: 1 PROPERTY: COPPELL, Texas 75019 Sales Price 1991 Co. Ed. Dist. - $498.15 +$600.01 1991 Coppell MUD - $98.01 +$118.05 1991 City of Coppell- $439.74 +$529.65 1991 Dallas County - $277.49 +$334.23 1991 Coppell ISD- $346.30 +$417.11 Prorations And Adjustments Taxes 10 -11 -91 to 1 -1 -92 Commission Dan Beaird Company Century 21 First Choice POLICY GUARANTEE FEE - OWNER TAX CERTIFICATES 1% GUARANTY ASSESSMENT FEE - OWNERS POLICY FEE - SURVEY DELETION ESCROW /SETTLEMENT FEE Attorney Fee To Jay S. Turner, P.C. Funds Due To Seller At Closing TOTALS CHARGE SELLER CREDIT SELLER $ $ 100,000.00 1,098.16 216.06 969.39 611.72 763.41 3,000.00 3,000.00 1.00 40.41 11.77 1,023.00 153.45 100.00 85.00 822.46 69,749.09 -------- - - - - -- -------- - - - - -- $ 100,822.46 $ 100,822.46 Thomas J. Mc le Katherine R. McHale motion carried 6-1 with Mayor Pro Tem Robertson and Councilmembers Alexander, Sturges, Watson, Tunnell, and Sheehan voting in favor of the motion and Councilmember Mayo voting against the motion. Mayor Morton suggested to Council that two Councilmembers.be appointed as advisory liaisons to the Committee and advised the Council that he had been approached by two members of Council to serve as. liaisons. Councilmember Alexander moved to appoint Councilmembers Watson and Sheehan to serve on the Work Study .Committee as advisory liaisons. Councilmember Tunnell seconded the motion; the motion carried 7 -0 with Mayor Pro Tem Robertson and Councilmembers Alexander, Sturges, Watson, Tunnell, Mayo, and Sheehan voting in favor of the motion. 29. Consider approval of a Resolution for the purpose of voting for a member of the Board of Directors of the Dallas Central Appraisal District, and authorizing the Mayor to sign. Mayor Pro Tem Robertson moved to approve Resolution No. 111495.3 for the purpose of voting for Milburn Gravley to serve on the Board of Directors of the Dallas Central Appraisal District, and authorizing the Mayor to sign. Councilmember Sheehan seconded the motion; the motion carried 7 -0 with Mayor Pro Tem Robertson and Councilmembers Alexander, Sturges, Watson, Tunnell, Mayo, and Sheehan voting in favor of the motion. 30. Consider approval of naming park property at Sandy Lake and Coppell Roads. City Manager Jim Witt made a presentation to the Council. Councilmember Mayo moved to name the park at Sandy Lake Road and Coppell Road "Thweatt Park." Councilmember Tunnell seconded the motion; the motion carried 7-0 with Mayor Pro Tem Robertson and Councilmembers Alexander, Sturges, Watson, Tunnell, Mayo, and Sheehan voting in favor of the motion. 31. Consider approval of an Ordinance abandoning Riverchase Drive west of MacArthur Blvd. and authorizing the Mayor to sign. Mayor Pro Tem Robertson moved to approve Ordinance No. 95730 abandoning Riverchase Drive west of MacArthur Blvd. and authorizing the Mayor to sign. Councilmember Mayo seconded the motion; the motion carried 7 -0 with Mayor Pro Tem Robertson and Councilmembers Alexander, Sturges, Watson, Tunnell, Mayo, and Sheehan voting in favor of the motion. 32. Necessary action resulting from Executive Session. -- CM111495 Page 112 of 14 DAN L. BEAIRD PRESIDENT DAN BEAIRD. INC. 5121 MCKINNEY AVENUE DALLAS. TEXAS 75205 (214) 522-3200 FAX (214) 522-2682 6e?39;1�2 4�2 c- - c al 4 L --AUG 2 2 1991 Pt WORKS FAR THE STATE OF TEXAS COUNTY OF DALLAS Thomas J. and Katherine R. McHale (hereinafter called "Seller," whether one or more) hereby sells and agrees to convey to City of Coppell KNOW ALL MEN BY THESE PRESENTS that: (hereinafter called "Purchaser," whether one or more) and Purchaser hereby buys and agrees to pay for the following described real estate situated in Dallas County, Texas, to-wit: Being approximately 3.5+ acres out of a six (6)+ acre tract located at the Southwest corner of Coppell Road and Thweat Road in the City of Coppell. Said tract being part of the T.L. Holland Survey Abstract No. 624 and the John Vest Survey Abstract No. 1508, and shown as Exhibit "A" attached hereto. together with, all and singular, all improvements thereon and all rights and appurtenances pertaining thereto, including any right, title and interest of Seller in and to adjacent streets, alleys, or right -of -way, such real estate, improvements, rights and appurtenances being herein referred to as the "Property." This Contract and the Property also covers and includes all fixtures and articles of personal property attached to said real estate and owned by Seller, such as air conditioning and heating equipment. This Contract is executed upon the following terms and conditions: I. Purchase Price. The purchase price for the Property is S 100,000.00 payable as follows: a. $ 100,000.00 in cash. u. See Addendum iu Cuuiraei attzicheai. c. All other terms and conditions of this contract notwithstanding, this contract is subject to final approval of the City Council of the City of Coppell. Any note or notes to be executed by Purchaser hereunder shall be somrod by vendor's lies anid by deed of trust with po s iirt sut�' covenants as to taxes, insurance, default and other matters as Seller may reasonably require. p` is. wnntn ( ) days after the date of this Contract, Seller shall, at Sellers expense, deliver or cause to be delivered (1 ) tick commitment ( "Title Binder') covering the Property binding the Title Company to issue a Texas Owner's Policy of Tnle Insurance 7thcd f opolicy prescribed by the Texas State Board of Insurance at the Closing in the full amount of the purchase price, and (2) T cotTtct and legible copies of any a all instruments referred to in the Title Binder as constituting exceptions or restrictions upon tr, excep hat copies of any liens which arc to be released at the closing may be omitted. 4. A al Period and Title. A. P \asto r shall have ( ) days after the receipt of the Survey and Title Binder to review them and t deliver in writing to Seller such objs Purchaser may have to anything contained in them. Any such item to which Purchaser shall not object shall be tried a "Permitted Exception." If thbjections by Purchaser, Seller shall in good faith attempt to satisfy them prior to closing, but Seller shall not uired to incur any cost do to so. If Sers written notice to Purchaser on or before the closing date that Seller is unable to satisfy such objections, or , for any reason, Seller is unable to convn ordance with Section 7(B) below, Purchaser may either waive such objections and accept such title as Her is able to convey or terminate this Cy tun notice to Seller. Zoning ordinances and the lien for current taxes shall be deemed to be Pe ed Exceptions. B. Seresents nd warrants to Purchaser that at the closing Seller will have and will convey to Purchaser g and marketable title to the Property free anf any an ll encumbrances except the Premitted Exceptions. Delivery of the Title Policy pursuant to on 7 below shall be deemed to fulfill all dutier as to the tciency of title required hereunder; provided however, Se ller shall not thereby be re from the warranties of Seller's Deed. 5. Inspection. Purchaser ackno ges that Purchaser has inspected all buildings and improvements situated on Property and is thoroughly familiar with their condition, and Purchaser here accepts the Property and the buildings and improvements situated there , in their present condition, with such changes therein as may hereafter be ca y reasonable deterioration. 6. Casualty Lon. All risk of loss to the roperty shall remain upon Seller prior to the closing. U, prior to a closing, the Property shall be damaged or destroyed by fire or other casualty, to a material tent, Purchaser may either terminate this Contract by wntte otice to Seller or close. If Purchaser elects to close, despite said material damage or destruction, here shall It no reduction in the purchase price, and Selk hall assign to Purchaser Seller's right, title and interest in and to all insurance proceeds resulting or t result form said damage or destruction. Unless oche provided herein, the term "material "shall mean damage or destruction, the cost of repairing which ex s ten (10%) percent of the purchase price. In the ev t of less than material damage or destruction to the Property prior to the closing, Selkr shall either re_. me prior to the closing, at Seller's expense, or imburse Purchaser for the cost of repairing the same by assigning any insurance proceeds resulting therefrom t Purchaser and / or by allowing Purchaser t deduct such cost from the cash payable to Seller at the closing. If the extent of damage or the amount of insuran roceeds to be made available is not to be determined prior to the closing date specified in Section 7 below, or the repairs are not able to be completed pn to said date, either party, by wntte notice to the other, may postpone the date of the closing to such date as shall be designated in such notice, but not more t n thirty (30) days after the cl g date specified in Section 7 below. 7. Closing. A . The closing of this Contract shall be held on at the offices of the Title Company at its address stated below; provided, however, that if on such date the Title ompany has not et approved title or if there are objections made by Purchaser which have not yet been cured by Seller, either party, by written notice to the o er, may pos one the date of the closing to such date as shall be designated in such notice but not more that thirty (30) days after the closing date above s ed. B. At the closing, Seller shall deliver to Purchaser. (i) a General rra y Deed (with Vendor's Lien retained if not a cash purchase) conveying the Property according to the legal description prepared by the surveyor as shown the Survey of the Property, subject only to the Permitted Exceptions; (ii) a Title Policy issued by the underwriter for the Title Company pursuant to the t Binder with the survey exception deleted (except as to shortages in area) subject only to the Permitted Exceptions; and (iii) possession of the Propert . C. At the closing, Purchaser shall deliver to Seller (i) the cash rtion of t purchase price (the Earnest Money being applied thereto) and (ii) the Note and the Deed of Trust, if any. D. Each party hereto shall pay his share of the closing c which arc norma assessed by the Title Company against a seller or purchaser in a transaction of this character in the county where the Property is 1 ted. se E. Rents and lea commissions, interest, and ad val m taxes for the then curren car shall be prorated at the closing effective as of the date of closing. Purchaser agrees to execute and deliver to Seller in du wte an Assumption Agnxmen 'n recordable form agreeing to pay all commisions payable under any lease of the Property. Any security deposits held by Iles shall be delivered to Purchaser. f the closing shall occur before the tax rate is fined for the then current year, the apportionment of the taxes shall be u n the basis of the tax rate for the p g year applied to the latest assessed valuation but any difference in actual and ad valorem taxes for the year of actually paid by Purchaser shall be adjust tween the parties upon receipt of written evidence of the payment thereof. All taxes imposed because of a c nge of use of the Property afar the closing s be for the account of Purchaser. F. If Purchaser is to assume an existing I , Purchaser shall pay any transfer fee, and a sum equa to the amount of any reserve accounts held by the mortgagee for the payment of taxes and / or insuran shall be paid to Sclkr by Purchaser. Purchaser shall ex at the option acid expense of Seller, a Deed of Trust to Secure Assumption with a Trustee na by Seller. G. If the Property is situated withi a utility district subject to the provisions of Section 50.301, Texas ater Code, then at or prior to the closing, Seller agrees to give Purchaser the written no ce required by said Section and Purchaser agrees to sign and acknowi the notice to evidence receipt thereof. 8. Termination. If this Contract is IErminatod by Purchaser in accordance with Section 4 or 6 above, the Earned. loncy shall be promptly refunded to . ,rchr—cr, d"; :.„, ranks s..." ho. .. �/ .` r c "ie.t c.-. o \ v 9. Default. U Seller shall (ail consummate this Contract for any reason, except P se urchar's default, Purchaser enforce specific performance of this Contract or may bring suit for amages against Seller. If Purchaser shall fail to consummate this Contract for any except Seller's default or the termination of this Contract pars tit to a right to terminate given herein, Seller shall have'h- right to have the Earnest Mo paid to Seller as liquidated damages for the breach of this ntract, or Seller may bring suit for damages against Purchaser or enforce specific perfo of this Contract. 10. Commidon. A. Seller to pay the Real Estate Agent fast named below (referred to herein as the "Principal Agent') for neg 'sing this contract a commission in cash eq to the following percent of the total purchase price of the Property computed as follows: The Ptintdpal s slabs to pith commiaaio ll ir n sharevoeabty vent upon the execution of thin Contract, notwithstanding anY wbsegtuera a variation of Contract or any ddatYt by Seller or Purchaser, esoept that o0 oommisaion shall be payabts is the event that the Contract shsJr be under 4 or 6 above, and except that if this Conumet is not consummated by reason of Purchaser% default sad Seller does not elect to alf sdaee pert the commonon d" not me d one -h of the Earnest Abney. Said oomminim I16sY be pW by St�rto tht hiiedpal n Tes, the doting or in the even of ddauk by Seller or Purchaser, within ten days a[1r Hs �1teMied dosiae Min `T1e Pdn eiail' Aasat ihil�i' TM, . sass ..••�• •••� ..o.. ••• una t,�uu rail. Purchaser XOCt snail, at JCIRr s expense, deliver or cause to be delivered to (1) A title commitment ( "Title Binder ") covering the Properi binding the 1 ale Compare to Issue it lexas Owner's Policy of - 1 ale lnt urantt on the standard form of policy prescribed by the Texas State Board of Insurance at the Closing in the lull amount of the purchase price, and (2) True, correct, and legible copies of any and all instruments referred join the 1 ale Binder as constituting exceptions or restriction% upon the title of Seller. except that copies of any liens which are to he released at the closing maJ be omitted. 4. Approval Period and Title. A. Purchaser shall have F i f teen 1 S days alter the receipt of t he Sun•c% and Title Binder to review them and to deliver in writing to Seller such objeetionsas Purchawr may have to anything contained in them Am such item to which Purchaser shall not object shall be deemed it "Permitted Exception." If there are objections by Purchaser. Seiler %hall in Food lash attempt its sali,h them prior w closing. but Seller shall not he required it) incur an cost do to so. If Sellerdehvers written notice to Puichaser on tit before the ciusiny date that Scllci is unahle to slush such obtections, or tl• for any reason. Sellei is unable to convey title In accordance with Section 7(B) hrlow. Purchase t mac either waive such objections and acccpi such title as Seller is able to convey or terminate this Contract by written notice tai Seller Zoning ordinances and the hen for current taxes shall be deemed to he Permitted Exception% B. Seller represents and warrants to Purchaser that at the closing Seller will have and will convey to Purchaser good and marketable title to the Property free and clear of any and all encumbrances except the Permitted exceptions. Wivery of the Title Policy pursuant to Section 7 below shall be deemed to fulfill all duties of Seller as to the sufficiency of title required hereunder; provided however, Seller shall not thereby be released from the warranties of Seller's Deed. 5 Inspection. See Addendum SOL 6. Casualty Lou. destroyed by fire or other easualt\. to a material rstcni. Purcrtascr nfa, either terminate this( ontract by written notice to Seller or irehaser elects ti) close, despite said material damage or drsti action. tht•re shall he no reduction in the purchase price. and Seller sh urchascr Seller's right, title and interest in and to all insurance proceeds resulting or to result form said da magc of ucsn uctiun. L c ear provided herein, the term "material - shall mean damage or destruction. the cost of repairing which exceeds irn t 10 i.) percent of i se price. In the event of less than material damage or destruction to the Property prior to the closing, Seller shall either repair the sans • e closing, at Seller's expense. or reimburse Purchaser for the cost of repairing the same by assigning any insurance proceeds result to I'uirhaser and ear by allow ig P rctaGsr w drdt l�suth eta brim the cash payabbc to Seller at the C If the extent of a amount of insurance proceeds to he made a ,s t ah1 tq be determined prior to the closing date specified in Section a repairs are not able to be completed prior u) said date• either p b� w rittftnoti t the other, may postpone the date of the closing to 7 Oozing or before days following "feasibility provision" in Addendum, Paragraph 3. A . The closing of this Contract shall be held on — at the rinices of the I tle Company at its address stated below; provided, however. that if tin such date the 1 o n le Company has not vet approved title or if there arc objections made bs Purchaser which have not yet been cured by Seller. either pang. hN written notice to the other, mad postpone the dart of the closing to such date as shall be designated m such notice but not more that thiny (30) days alter the closing date above specified B. At the closing, Seller shall deliver to Purchaser: (i) a General Warranty Deed 1 ilh Vendor's Lien retained it not a cash purchase) conveying the Property according to the legal description prepaicd by the survevor as shown on the Surves of the Property, subject onh to the Permitted Exceptions; (it) it Title Policy issued by the underwriter for the l ulc Company pursuant its the Title Binder with the surve_s exception deleted (except as to shortages in areal subject only to the Permitted Exceptions; and (tit) possession of the Property C. At the closing. Purchaser shall deliver to Seller (t) the cash portion of the purchase price (the Earnest Money bring applied thereto) and (it) the Note and the Deed of Trust, if any. D. Each pang hereto shall pay his share of the closing costs which are normalle assessed by the Title Company against a seller or purchaser in a transaction of this character in the county where the Property is located E. Rents and lease commissions, interest, and ad valorem taxes for the then current year shall be prorated at the closing effective as of the date of closing. Purchaser agrees to execute and dclocr to Seller in duplicate an Assumption Agreement recordable form agreeing to pay all commissions payable under any lease of the Property. Any securit% deposits held by Seller shall he delivered to Purchaser. If the closing shall occur before the tax rate is fixed for the then current year, the apportionment of the taxes shall be upon the basis of the tax rare for the preceding year applied to the latest assessed valuation but any difference in actual and estimated ad valorem taxes for the year of sale actually paid by Purchaser shall be adjusted between the parties upon receipt of written evidence of the payment thereof. All taxes imposed because of a change of use of the Propeny after the closing shall be for the account of Purchaser. F. If Purchaser is to assume an existing loan. Purchaser shall pay an transfer fee, and a sum equal to the amount of an• reserve accounts held by the mongagee for the payment of taxes and or insurance shall be paid to Seller b� Purchaser. Purchaser shall execute, at the option and expense of Seller. a Deed of Trust to Secure Assumption with a Trustee named by Seller G. If the Property is situated within a utility district subject to the provisions of Section 50301, Texas Water Code• then at or prior to the closing. Seller agrees to give Purchaser the written notice required by said Section and Purchaser agrees it) sign and acknowledge the notice to evidence receipt thereof. 8. Termination. If this Contract is terminated by purchaser in Nrror(ianr. with Seriinn a n h ahnve the F_r M nr shall b" prcrn p ly ref 1 ^. "'d I Purchaser, and the panics shall have no further obligation or liabilities one to the other. 9. Default. If Seller shall fail to consummate this Contract loran reason, except Purchaser's default. Purchaser may enforce specific performance of this Contract . 11 Purchaser shall lail to consummate this Contract for am reason. except Seller's delault or the termination of this Contract pursuant to a right iii terminate given hercnt. Seller shall have the right to have the Earnest Money paid to Seller as liquidated darnages for the breach of this Contract, M. ComnYasion. A. Seer agrees to pay the Reai Estate Agent first named below treferred to hercm as the - Principal Agent ") for negotiating this contract a commission in cash equal to the following percent of the total purchase price of the Propeny computed as follows: 6X of total Durchase price )n ;.a The Principal Agent's ent's right to such commission shall irrevocably vest upon the )f this Cont d variation of this Contract or any default by Seller or Purchaser, except that no commission shall be payable in the event to acrirutwttq' fynder Section 4 or 6 above, and ex y s apt that if this Contras is not consummated b reason off arc Her does trot ekCt tvtrAltnrfts' performance, the commwion shall eta exceed one -hall of the Earnest Mont n If be paid by Seller to the Prineie l Aiijew 12r11riiC � . " 1—MM nny iiuijuc or commumcauon required or permitted hereunder ;ha I bed cc med to be delivered, whether actually received or not, when deposited In the United States mail, postage fully prepaid, registered or certified mail, addressed to the intended recipient at the address on the signature pageof this Contract. Any address for notice may be changed by written notice so given C. Forms. In case of a dispute as to the form of any document required hereunder, the current form prepared by the State Bar of Texas shall be conclusively deemed reasonable. D. Attorneys' Fees, If either party shall be required to employ an attorney to enforce or defend the rights of such party hereunder, the prevailing party shall be entitled to recover reasonable attorneys' fees. E. Integration. This Contract contains the complete agreement between the parties and cannot he varied except by the wntten agreement of the parties. The parries agree that there are no oral agreements, understanding, representations or warranties which are not expressly set forth herein. F Survival. Any portion of this Contract not otherwise consummated at the Closing will survive the closing of this transaction as a continuing agreement by and between the parties. G. Binding Effect. This Contract shall inure to the benefit of and bind the parties hereto and their respective heirs, representatives, successors and assigns. 12. Contract as Offer. The execution of this Contract by the first party to do so constitutes an offer to purchase or sell the Property. Unless within Ten t 10 days from the date of execution oft his Contract by the first party, this Contract is accepted by the other party and a fully executed copy is delivered to the first party, the offer of this Contract shall be automatically revoked and terminated, and the earnest money, if any, shall be returned to Purchaser. 13. Other Provisions. See Addendum attached. EXECUTED on the dates stated below. AGENTS Dan Beaird Company Pnnapat Agent, Mernher of t (ireuer DaHas Hoard ni RFAI S. By 5121 McKinney Dallas, TX 75205 214 - 522 -3200 Century 21 - First Choirp Cooperannp Anent By: this Phillip Mills 820 S. McArthur Blvd Coppell, TX 75019 2 1 AFnAt 9 Qone? UAd from day of , 14 TITLE COMPANY SELLER _ By rnic 10403 High Hollows Dr Apt 203 Add—, Dallas, TX 75230 (214) 369 -6991 Nic ni Faecunon Copies of all correspondence to be G By: 1. IT IS AGREED AND UNDERSTOOD THAT IF PURCHASER ACQUIRES THE SUBJECT PROPERTY, SELLER SHALL WITHIN FIVE (5) DAYS AFTER SUCH CLOSING, MAKE A GIFT TO THE PARKS DEPARTMENT OF THE CITY OF COPPELL THE BALANCE OF THE LAND OWNED BY SELLER ADJACENT AND CONTIGUOUS TO THE SUBJECT TRACT, BEING APPROXIMATELY 2.5+ ACRES. 2. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES CONTAINED IN SUBSECTION B OF SECTION 4 HEREOF AND THE GENERAL WARRANTY OF TITLE CONTAINED IN THE DEED OF THE PROPERTY FROM SELLER TO PURCHASER, PURCHASER HEREBY ACKNOWLEDGES AND AGREES THAT SELLER OR BROKERS HAVE NOT MADE ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, TO PURCHASER WITH RESPECT TO THE SUITABILITY OF THE PROPERTY FOR ANY INTENDED USE, THE CONDITION OF THE PROPERTY (INCLUDING SOIL OR SUB -SOIL CONDITIONS), THE APPRECIATION OR INCOME POTENTIAL OF THE PROPERTY, THE ZONING OF THE PROPERTY, THE PLATTING OF THE PROPERTY, THE AVAILABILITY OF UTILITIES TO THE PROPERTY, ACCESS TO THE PROPERTY, REQUIREMENTS IN CONNECTION WITH ANY DEVELOPMENT OF THE PROPERTY OR ANY OTHER MATTER WHATSOEVER. PURCHASER FURTHER HEREBY ACKNOWLEDGES AND AGREES THAT PURCHASER HAS INVESTIGATED OR WILL INVESTIGATE ALL HATTERS OF CONCERN TO PURCHASER WITH RESPECT TO THE PROPERTY PRIOR TO THE END OF THE FEASIBILITY PERIOD (HEREINAFTER DEFINED) AND THAT PURCHASER IS NOT RELYING AND HEREBY WAIVES ANY RELIANCE ON ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, OF SELLER AND BROKERS WITH RESPECT TO SUCH MATTERS EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES CONTAINED IN SUBSECTION B OF SECTION 4 HEREOF AND THE GENERAL WARRANTY OF TITLE CONTAINED IN THE DEED OF THE PROPERTY FROM V ' SE R T RCHASER. 3 a 3. DURING THAT PERIO BEG THE DATE OF THIS CONTRACT AND ENDING NINETY DA AFR, HE DATE OF THE DELIVERY TO PURCHASER OF THE SURVEY AND THE TITLE BINDER (HEREINAFTER CALLED THE "FEASIBILITY PERIOD "), PURCHASER AND PURCHASER'S EMPLOYEES, AGENTS, CONTRACTORS, CONSULTANTS AND OTHER REPRESENTATIVES (HEREINAFTER CALLED "CONSULTANT(S)" SHALL HAVE THE RIGHT TO ENTER UPON THE PROPERTY TO PHYSICALLY INSPECT THE PROPERTY AND TO MAKE OR CONDUCT SUCH ENGINEERING, FEASIBILITY, ENVIRONMENTAL OR OTHER INSPECTIONS, TESTS, SURVEYS, PROCEDURES, STUDIES OR INVESTIGATIONS WHICH PURCHASE DEEMS NECESSARY OR ADVISABLE TO DETERMINE WHETHER THE CONDITION OF THE PROPERTY IS SATISFACTORY TO PURCHASER AND WHETHER THE PROPERTY IS SUITABLE FOR PURCHASER'S INTENDED USE; PROVIDED, HOWEVER, IN CONNECTION WITH ANY ENTRY UPON THE PROPERTY BY PURCHASER OR BY CONSULTANT(S) AND IN CONNECTION WITH ALL INSPECTIONS, TESTS, SURVEYS, PROCEDURES, STUDIES, INVESTIGATIONS OR REPORTS MADE OR PREPARED BY PURCHASER OR BY ANY CONSULTANT(S), IT IS UNDERSTOOD AND AGREED THAT ALL ENTRIES UPON THE PROPERTY AND ALL INSPECTIONS, TESTS, SURVEYS, ehCCtUUKES, STUDIES OR iNVES'TIGATIONS PERFORMEU UPON THE PROPERTY BY PURCHASER OR BY ANY CONSULTANT(S) SHALL BE MADE AND PERFORMED IN A MANNER CALCULATED TO MINIMIZE DAMAGE TO THE PROPERTY THEREFROM. ALL INSPECTIONS, TEST-, SURVEYS, PROCEDURES, STUDIES, INVESTIGATIONS AND OTHER ACTIONS OR OMISSIONS OF PURCHASER OR OF ANY CONSULTANT(S) IN, ON, UNDER OR ABOUT THE PROPERTY ARE MADE, TAKEN C°, OMITTED AT THE SOLE RISK, COST AND EXPENSE OF PURCHASER. ALL COSTS OR CHARGES INCURRED OR MADE IN CONNECTION WITH ALL INSPECTIONS, TESTS, SURVEYS, PROCEDURES, STUDIES OR INVESTIGATIONS IN, ON, UNDER OR ABOUT THE PROPERTY MADE BY OR ON BEHALF OF PURCHASER SHALL BE THE SOLE RESPONSIBILITY OF AND BE PAID FOR BY PURCHASER. IF THIS CONTRACT DOES NOT CLOSE FOR ANY REASON, PURCHASER AGREES TO PROVIDE TO SELLER AT NO COST TO SELLER A COPY OF EACH WRITTEN TEST, SURVEY, STUDY OR REPORT OBTAINED BY PURCHASER IN CONNECTION WITH PURCHASER'S OR ANY V REASON, PURCHASER AT PURCHASER'S URCHASER'S SOLE RISK, COST EX PENSE i7L \i PROMPTLY SHALL REPAIR IN A GOOD, WORKMANLIKE MANNER ANY DAMAGE TO THE PROPERTY ARISING OR RESULTING FROM ALL ACTIONS OR OMISSIONS BY PURCHASER OR BY ANY CONSULTANT(S) AND RESTORE THE PROPERTY TO THE CONDITION EXISTING ON THE DATE IMMEDIATELY PRIOR TO THE OCCURRENCE OF SUCH DAMAGE. AS A MATERIAL INDUCEMENT TO SELLER TO ALLOW PURCHASER AND ANY CONSULTANT TO ENTER UPON THE PROPERTY AS CONTEMPLATED IN THIS SUBSECTION PURCHASER HEREBY EXPRESSLY AGREES TO INDEMNIFY AND HOLD SELLER AND THE PROPERTY HARMLESS FROM AND AGAINST ANY AND ALL COSTS, EXPENSES (INCLUDING, WITHOUT LIMITATION, ATTORNEYS' FEES, ATTORNEYS' DISBURSEMENTS AND COURT COSTS), DAMAGES, LOSSES, CLAIMS, LIABILITIES, LIENS, ENCUMBRANCES AND CHARGES ARISING OR RESULTING OR IN ANY WAY RELATED TO ANY ACTIONS OR OMISSIONS BY PURCHASER OR BY ANY CONSULTANT WHILE ON THE PROPERTY, INCLUDING, 14ITHOUT LIMITATION, PERSONAL INJURY, DEATH AND PROPERTY DAMAGE. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS CONTRACT, THE PROVISIONS CONTAINED IN THIS SUBSECTION SHALL SURVIVE ANY TERMINATION OF THIS CONTRACT AND THE CLOSING OF THIS CONTRACT. 4. IN THE EVENT THE FEASIBILITY PERIOD STUDIES INDICATE, IN PURCHASER'S SOLE JUDGMENT AND DISCRETION, THAT THE PROPERTY IS SUITABLE FOR PURCHASER'S INTENDED USE, PURCHASER SHALL SEND` ,_. WRITTEN NOTICE (HEREINAFTER CALLED THE "NOTICE OF SUIT ILITY ") TO SELLER 014 OR BEFORE THAT DATE WHICH IS NINETY DAYS AFTER J THE DATE OF THE DELIVERY TO PURCHASER OF THE SURVEY AND THE TITLE BINDER. IF PURCHASER FAILS TO SEND SELLER THE NOTICE GF U SUITABILITY ON OR BEFORE THE LAST DAY OF SAID NINETY 4htl'DAY PERIOD, THIS CONTRACT SHALL AUTOMATICALLY TERMINATE. IN EVENT OF SUCH AUTOMATIC TERMINATION, PURCHASER SHALL DELIVER TO SELLER COPIES OF ANY ENGINEERING REPORTS AND SOILS TESTS PREPARED DURING THE FEASIBILITY PERIOD, THE EARNEST MONEY SHALL BE RETURNED TO PURCHASER BY THE TITLE COMPANY, AND THEREAFTER NEITHER SELLER NOR PURCHASER SHALL HAVE ANY FURTHER RIGHTS OR OBLIGATIONS UNDER THIS CONTRACT. e U I SF- 12 7 9\0 -2 89 65 r 2Z E 850.90' Sa A ol ' ,ter � � •� / N _-iiw cal - SAN D Y LAKE MO. � ry n++oeasoN sv avcv'- � N.- i� C % o I .` 0 n V i s � � it"