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R-14-01-23-G4 - 1/23/2014RESOLUTION NO. R -14-01-23-G4 WHEREAS, the City desires to purchase and agrees to pay for the real property and improvements located at 1710 Cushing Park Drive, described as Lot 8, Block B, Cushing Park Subdivision, and WHEREAS, Kelly R. Miller, the owner of the property, has agreed to sell said property to the City, Now Therefore BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, That the Mayor is hereby authorized and directed to execute on behalf of the City a Real Estate Contract with Kelly R. Miller, for the purchase of the above described property, a copy of said Real Estate Contract being attached hereto as Exhibit "A" and incorporated herein for all purposes. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Resolution was adopted was posted and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended. RESOLVED this 23rd day of January, 2014. ALAN MCGRAW, Mayor City of Round Rock, Texas ATTEST: SARA L. WHITE, City Clerk 0112.1404; 00290210 EQUAL NOUS/NG OPPORTUNITY EXHIBIT • PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) ONE TO FOUR FAMILY RESIDENTIAL CONTRACT (RESALE) NOTICE: Not For Use For Condominium Transactions 12-05-2011 1. PARTIES: The parties to this contract are Kelly R Miller (Seller) and City of Round Rock (Buyer). Seller agrees to sell and convey to Buyer and Buyer agrees to buy from Seller the Property defined below. 2. PROPERTY: A. LAND: Lot 8 Block B , Cushing Park Addition, City of Round Rock , County of Williamson Texas, known as 1710 Cushing Park Dr 78664 (address/zip code), or as described on attached exhibit. B. IMPROVEMENTS: The house, garage and all other fixtures and improvements attached to the above-described real property, including without limitation, the following permanently installed and built-in items, if any: all equipment and appliances, valances, screens, shutters, awnings, wall-to-wall carpeting, mirrors, ceiling fans, attic fans, mail boxes, television antennas and satellite dish system and equipment, mounts and brackets for televisions and speakers, heating and air-conditioning units, security and fire detection equipment, wiring, plumbing and lighting fixtures, chandeliers, water softener system, kitchen equipment, garage door openers, cleaning equipment, shrubbery, landscaping, outdoor cooking equipment, and all other property owned by Seller and attached to the above described real property. C. ACCESSORIES: The following described related accessories, if any: window air conditioning units, stove, fireplace screens, curtains and rods, blinds, window shades, draperies and rods, door keys, mailbox keys, above ground pool, swimming pool equipment and maintenance accessories, artificial fireplace logs, and controls for: (i) satellite dish systems, (ii) garage doors, (iii) entry gates, and (iv) other improvements and accessories. D. EXCLUSIONS: The following improvements and accessories will be retained by Seller and must be removed prior to delivery of possession: The land, improvements and accessories are collectively referred to as the "Property". 3. SALES PRICE: A. Cash portion of Sales Price payable by Buyer at closing $ 160,000.00 B. Sum of all financing described below (excluding any loan funding fee or mortgage insurance premium) $ C. Sales Price (Sum of A and B) $ 160,000.00 4. FINANCING: The portion of Sales Price not payable in cash will be paid as follows: (Check applicable boxes below) ❑ A. THIRD PARTY FINANCING: One or more third party mortgage loans in the total amount of $ (excluding any loan funding fee or mortgage insurance premium). (1) Property Approval: If the Property does not satisfy the lenders' underwriting requirements for the loan(s), (including, but not limited to appraisal, insurability and lender required repairs), Buyer may terminate this contract by giving notice to Seller prior to closing and the earnest money will be refunded to Buyer. (2) Credit Approval: (Check one box only) O (a) This contract is subject to Buyer being approved for the financing described in the attached Third Party Financing Addendum for Credit Approval. ❑ (b) This contract is not subject to Buyer being approved for financing and does not involve FHA or VA financing. O B. ASSUMPTION: The assumption of the unpaid principal balance of one or more promissory notes described in the attached TREC Loan Assumption Addendum. O C. SELLER FINANCING: A promissory note from Buyer to Seller of $ secured by vendor's and deed of trust liens, and containing the terms and conditions described in the attached TREC Seller Financing Addendum. If an owner policy of title insurance is furnished, Buyer shall furnish Seller with a mortgagee policy of title insurance. TAR 1601 Initialed for identification by Buyer and Seller TREC NO. 20-11 ACE Realty,6800 Westgate Blvd., Ste. 132-300 Austin,TX 78745 Phone: 512-844-0957 Fax: 512-892-3495 James Espinosa Produced with zipForrn® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLooix.c0f t Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 Page 2 of 9 12-05-2011 (Address of Property) 5. EARNEST MONEY: Upon execution of this contract by all parties, Buyer shall deposit $ 1 , 500.00 as earnest money with First American Title - Diana R , as escrow agent, at 3520 Executive Center Dr, G100, Austin 78731 (address). Buyer shall deposit additional earnest money of $ with escrow agent within days after the effective date of this contract. If Buyer fails to deposit the earnest money as required by this contract, Buyer will be in default. 6. TITLE POLICY AND SURVEY: A. TITLE POLICY: Seller shall furnish to Buyer at ❑ Seller's ['Buyer's expense an owner policy of title insurance (Title Policy) issued by First American Title Company (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 and assessments. (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 marital rights. (7) The standard printed exception as to waters, tidelands, beaches, streams, and related matters. (8) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements. Buyer, at Buyer's expense, may have the exception amended to read, "shortages in area". B. COMMITMENT: Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Buyer a commitment for title insurance (Commitment) and, at Buyer's expense, legible copies of restrictive covenants and documents evidencing exceptions in the Commitment (Exception Documents) other than the standard printed exceptions. Seller authorizes the Title Company to deliver the Commitment and Exception Documents to Buyer at Buyer's address shown in Paragraph 21. If the Commitment and Exception Documents are not delivered to Buyer within the specified time, the time for delivery will be automatically extended up to 15 days or the Closing Date, whichever is earlier. If, due to factors beyond Seller's control, the Commitment and Exception Documents are not delivered within the time required, Buyer may terminate this contract and the earnest money will be refunded to Buyer. C. SURVEY: The survey must be made by a registered professional land surveyor acceptable to the Title Company and Buyer's lender(s). (Check one box only) ❑ (1) Within days after the effective date of this contract, Seller shall furnish to Buyer and Title Company Seller's existing survey of the Property and a Residential Real Property Affidavit promulgated by the Texas Department of Insurance (T-47 Affidavit). If Seller fails to furnish the existing survey or affidavit within the time prescribed, Buyer shall obtain a new survey at Seller's expense no later than 3 days prior to Closing Date. If the existing survey or affidavit is not acceptable to Title Company or Buyer's lender(s), Buyer shall obtain a new survey at ❑ Seller's ❑ Buyer's expense no later than 3 days prior to Closing Date. x❑ (2) Within 10 days after the effective date of this contract, Buyer shall obtain a new survey at Buyer's expense. Buyer is deemed to receive the survey on the date of actual receipt or the date specified in this paragraph, whichever is earlier. ❑ (3) Within days after the effective date of this contract, Seller, at Seller's expense shall furnish a new survey to Buyer. D. OBJECTIONS: Buyer may object in writing to defects, exceptions, or encumbrances to title: disclosed on the survey other than items 6A(1) through (7) above; disclosed in the Commitment other than items 6A(1) through (8) above; or which prohibit the following use or activity: Buyer must object the earlier of (i) the Closing Date or (ii) days after Buyer receives the Commitment, Exception Documents, and the survey. Buyer's failure to object within the time allowed will constitute a waiver of Buyer's right to object; except that the requirements in Schedule C of the Commitment are not waived by Buyer. Provided Seller is not obligated to incur any expense, Seller shall cure the timely objections of Buyer or any third party TAR 1601 Initialed for identification by Buyer and Seller Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziDLoaix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock , TX 78664 Page 3 of 9 12-05-2011 (Address of Property) lender within 15 days after Seller receives the objections and the Closing Date will be extended as necessary. If objections are not cured within such 15 day period, this contract will terminate and the earnest money will be refunded to Buyer unless Buyer waives the objections. E. TITLE NOTICES: (1) ABSTRACT OR TITLE POLICY: Broker advises Buyer to have an abstract of title covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished with or obtain a Title Policy. 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. (2) MEMBERSHIP IN PROPERTY OWNERS ASSOCIATION(S): The Property ❑ is is not subject to mandatory membership in a property owners association(s). If the Property is subject to mandatory membership in a property owners association(s), Seller notifies Buyer under §5.012, Texas Property Code, that, as a purchaser of property in the residential community identified in Paragraph 2A in which the Property is located, you are obligated to be a member of the property owners association(s). Restrictive covenants governing the use and occupancy of the Property and all dedicatory instruments governing the establishment, maintenance, and operation of this residential community have been or will be recorded in the Real Property Records of the county in which the Property is located. Copies of the restrictive covenants and dedicatory instrument may be obtained from the county clerk. You are obligated to pav assessments to the property owners association(s). The amount of the assessments is subiect to change. Your failure to pav the assessments could result in enforcement of the association's lien on and the foreclosure of the Property. Section 207.003, Property Code, entitles an owner to receive copies of any document that governs the establishment, maintenance, or operation of a subdivision, including, but not limited to, restrictions, bylaws, rules and regulations, and a resale certificate from a property owners' association. A resale certificate contains information including, but not limited to, statements specifying the amount and frequency of regular assessments and the style and cause number of lawsuits to which the property owners' association is a party, other than lawsuits relating to unpaid ad valorem taxes of an individual member of the association. These documents must be made available to you by the property owners' association or the association's agent on your request. If Buyer is concerned about these matters, the TREC promulgated Addendum for Property Subject to Mandatory Membership in a Property Owners Association(s) should be used. (3) STATUTORY TAX DISTRICTS: If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control facilities and services, Chapter 49, 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. (4) TIDE WATERS: If the Property abuts the tidally influenced waters of the state, §33.135, Texas Natural Resources Code, requires a notice regarding coastal area property to be included in the contract. An addendum containing the notice promulgated by TREC or required by the parties must be used. (5) ANNEXATION: If the Property is located outside the limits of a municipality, Seller notifies Buyer under §5.011, Texas Property Code, that the Property may now or later be included in the extraterritorial jurisdiction of a municipality and may now or later be subject to 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 TAR 1601 Initialed for identification by Buyer and Seller Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 (Address of Property) Page 4 of 9 12-05-2011 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) TRANSFER FEES: If the Property is subject to a private transfer fee obligation, §5.205, Property Code, requires Seller to notify Buyer as follows: The private transfer fee obligation may be governed by Chapter 5, Subchapter G of the Texas Property Code. 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 immediately cause existing utilities to be turned on and shall keep the utilities on during the time this contract is in effect. B. SELLER'S DISCLOSURE NOTICE PURSUANT TO §5.008, TEXAS PROPERTY CODE (Notice): Check one box only) x (1) Buyer has received the Notice. (2) Buyer has not received the Notice. Within days after the effective date of this contract, Seller shall deliver the Notice to Buyer. If Buyer does not receive the Notice, Buyer may terminate this contract at any time prior to the closing and the earnest money will be refunded to Buyer. If Seller delivers the Notice, Buyer may terminate this contract for any reason within 7 days after Buyer receives the Notice or prior to the closing, whichever first occurs, and the earnest money will be refunded to Buyer. ❑ (3) The Seller is not required to furnish the notice under the Texas Property Code. C. SELLER'S DISCLOSURE OF LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS is required by Federal law for a residential dwelling constructed prior to 1978. D. ACCEPTANCE OF PROPERTY CONDITION: (Check one box only) a (1) Buyer accepts the Property in its present condition. ❑ (2) Buyer accepts the Property in its present condition provided Seller, at Seller's expense, shall complete the following specific repairs and treatments: . (Do not insert general phrases, such as "subject to inspections" that do not identify specific repairs.) NOTICE TO BUYER AND SELLER: Buyer's agreement to accept the Property in its present condition under Paragraph 7D(1) or (2) does not preclude Buyer from inspecting the Property under Paragraph 7A, from negotiating repairs or treatments in a subsequent amendment, or from terminating this contract during the Option Period, if any. E. LENDER REQUIRED REPAIRS AND TREATMENTS: Unless otherwise agreed in writing, neither party is obligated to pay for lender required repairs, which includes treatment for wood destroying insects. If the parties do not agree to pay for the lender required repairs or treatments, this contract will terminate and the earnest money will be refunded to Buyer. If the cost of lender required repairs and treatments exceeds 5% of the Sales Price, Buyer may terminate this contract and the earnest money will be refunded to Buyer. F. COMPLETION OF REPAIRS AND TREATMENTS: Unless otherwise agreed in writing, Seller shall complete all agreed repairs and treatments prior to the Closing Date. All required permits must be obtained, and repairs and treatments must be performed by persons who are licensed or otherwise authorized by law to provide such repairs or treatments. At Buyer's election, any transferable warranties received by Seller with respect to the repairs and treatments will be transferred to Buyer at Buyer's expense. If Seller fails to complete any agreed repairs and treatments prior to the Closing Date, Buyer may exercise remedies under Paragraph 15 or extend the Closing Date up to 15 days if necessary for Seller to complete the repairs and treatments. TAR 1601 Initialed for identification by Buyer and Seller Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 Page 5 of 9 12-05-2011 (Address of Property) G. 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. H. RESIDENTIAL SERVICE CONTRACTS: Buyer may purchase a residential service contract from a residential service company licensed by TREC. If Buyer purchases a residential service contract, Seller shall reimburse Buyer at closing for the cost of the residential service contract in an amount not exceeding $ -0- . Buyer should review any residential service contract for the scope of coverage, exclusions and limitations. The purchase of a residential service contract is optional. Similar coverage may be purchased from various companies authorized to do business in Texas. 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 February 14 , 2014 , or within 7 days after objections made under Paragraph 6D have been cured or waived, whichever date is later (Closing Date). If either party fails to close the sale by the Closing Date, the non - defaulting party may exercise the remedies contained in Paragraph 15. B. At closing: (1) Seller shall execute and deliver a general warranty deed conveying title to the Property to Buyer and showing no additional exceptions to those permitted in Paragraph 6 and furnish tax statements or certificates showing no delinquent taxes on the Property. (2) Buyer shall pay the Sales Price in good funds acceptable to the escrow agent. (3) Seller and Buyer shall execute and deliver any notices, statements, certificates, affidavits, releases, loan documents and other documents reasonably required for the closing of the sale and the issuance of the Title Policy. (4) There will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds unless securing the payment of any loans assumed by Buyer and assumed loans will not be in default. (5) If the Property is subject to a lease, Seller shall (i) deliver to Buyer the lease(s) and the move -in condition form signed by the tenant, if any, and (ii) transfer security deposits (as defined under §92.102, Property Code), if any, to Buyer. In such an event, Buyer shall deliver to the tenant a signed statement acknowledging that the Buyer has received the security deposit and is responsible for the return of the security deposit, and specifying the exact dollar amount of the security deposit. 10. POSSESSION: Seller shall deliver to Buyer possession of the Property in its resent or required condition, ordinary wear and tear excepted: IJ upon closing and funding U according to a temporary residential lease form promulgated by TREC or other written lease required by the parties. Any possession by Buyer prior to closing or by Seller after closing which is not authorized by a written lease will establish a tenancy at sufferance relationship between the parties. Consult your insurance agent prior to change of ownership and possession because insurance coverage may be limited or terminated. The absence of a written lease or appropriate insurance coverage may expose the parties to economic Toss. 11. SPECIAL PROVISIONS: (Insert only factual statements and business details applicable to the sale. TREC rules prohibit licensees from adding factual statements or business details for which a contract addendum, lease or other form has been promulgated by TREC for mandatory use.) This purchase is for the purpose of demolishing house to allow for the widening of Gattis School Road. TAR 1601 Initialed for identification by Buyer and Seller Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 Page 6 of 9 12-05-2011 (Address of Property) 12. SETTLEMENT AND OTHER EXPENSES: A. The following expenses must be paid at or prior to closing: (1) Expenses payable by Seller (Seller's Expenses): (a) Releases of existing liens, including prepayment penalties and recording fees; release of Seller's loan liability; tax statements or certificates; preparation of deed; one-half of escrow fee; and other expenses payable by Seller under this contract. (b) Seller shall also pay an amount not to exceed $ -0- to be applied in the following order: Buyer's Expenses which Buyer is prohibited from paying by FHA, VA, Texas Veterans Land Board or other governmental loan programs, and then to other Buyer's Expenses as allowed by the lender. (2) Expenses payable by Buyer (Buyer's Expenses): Appraisal fees; loan application fees; adjusted origination charges; credit reports; preparation of loan documents; interest on the notes from date of disbursement to one month prior to dates of first monthly payments; recording fees; copies of easements and restrictions; loan title policy with endorsements required by lender; loan -related inspection fees; photos; amortization schedules; one-half of escrow fee; all prepaid items, including required premiums for flood and hazard insurance, reserve deposits for insurance, ad valorem taxes and special governmental assessments; final compliance inspection; courier fee; repair inspection; underwriting fee; wire transfer fee; expenses incident to any loan; Private Mortgage Insurance Premium (PMI), VA Loan Funding Fee, or FHA Mortgage Insurance Premium (MIP) as required by the lender; and other expenses payable by Buyer under this contract. B. If any expense exceeds an amount expressly stated in this contract for such expense to be paid by a party, that party may terminate this contract unless the other party agrees to pay such excess. Buyer may not pay charges and fees expressly prohibited by FHA, VA, Texas Veterans Land Board or other governmental loan program regulations. 13. PRORATIONS: Taxes for the current year, interest, maintenance fees, assessments, dues and rents will be prorated through the Closing Date. The tax proration may be calculated taking into consideration any change in exemptions that will affect the current year's taxes. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available. If taxes are not paid at or prior to closing, Buyer shall pay taxes for the current year. 14. CASUALTY LOSS: If any part of the Property is damaged or destroyed by fire or other casualty after the effective date of this contract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event by the Closing Date. If Seller fails to do so due to factors beyond Seller's control, Buyer may (a) terminate this contract and the earnest money will be refunded to Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary or (c) accept the Property in its damaged condition with an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller's obligations under this paragraph are independent of any other obligations of Seller under this contract. 15. DEFAULT: If Buyer fails to comply with this contract, Buyer will be in default, and Seller may (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 fails to comply with this contract, Seller will be in default and Buyer may (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, thereby releasing both parties from this contract. 16. MEDIATION: It is the policy of the State of Texas to encourage resolution of disputes through alternative dispute resolution procedures such as mediation. Any dispute between Seller and Buyer related to this contract which is not resolved through informal discussion x❑ will ❑ will not be submitted to a mutually acceptable mediation service or provider. The parties to the mediation shall bear the mediation costs equally. This paragraph does not preclude a party from seeking equitable relief from a court of competent jurisdiction. TAR 1601 Initialed for identification by Buyer and Seller Produced with zipForme by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 Page 7 of 9 12-05-2011 (Address of Property) 17. ATTORNEY'S FEES: A Buyer, Seller, Listing Broker, Other Broker, or escrow agent who prevails in any legal proceeding related to this contract is entitled to recover reasonable attorney's fees and all costs of such proceeding. 18. ESCROW: A. ESCROW: The escrow agent is not (i) a party to this contract and does not have liability for the performance or nonperformance of any party to this contract, (ii) liable for interest on the earnest money and (iii) liable for the loss of any 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. B. EXPENSES: At closing, the earnest money must be applied first to any cash down payment, then to Buyer's Expenses and any excess refunded to Buyer. If no closing occurs, escrow agent may: (i) require a written release of liability of the escrow agent from all parties, (ii) require payment of unpaid expenses incurred on behalf of a party, and (iii) only deduct from the earnest money the amount of unpaid expenses incurred on behalf of the party receiving the earnest money. C. DEMAND: Upon termination of this contract, either party or the escrow agent may send a release of earnest money to each party and the parties shall execute counterparts of the release and deliver same to the escrow agent. If either party fails to execute the release, either party may make a written demand to the escrow agent for the earnest money. If only one party makes written demand for the earnest money, escrow agent shall promptly provide a copy of the demand to the other party. If escrow agent does not receive written objection to the demand from the other party within 15 days, escrow agent may disburse the earnest money to the party making demand reduced by the amount of unpaid expenses incurred on behalf of the party receiving the earnest money and escrow agent may pay the same to the creditors. If escrow agent complies with the provisions of this paragraph, each party hereby releases escrow agent from all adverse claims related to the disbursal of the earnest money. D. DAMAGES: Any party who wrongfully fails or refuses to sign a release acceptable to the escrow agent within 7 days of receipt of the request will be liable to the other party for liquidated damages in an amount equal to the sum of: (i) three times the amount of the earnest money; (ii) the earnest money; (iii) reasonable attorney's fees; and (iv) all costs of suit. E. NOTICES: Escrow agent's notices will be effective when sent in compliance with Paragraph 21. Notice of objection to the demand will be deemed effective upon receipt by escrow agent. 19. REPRESENTATIONS: All covenants, representations and warranties in this contract survive closing. If any representation of Seller in this contract is untrue on the Closing Date, Seller will be in default. Unless expressly prohibited by written agreement, Seller may continue to show the Property and receive, negotiate and accept back up offers. 20. FEDERAL TAX REQUIREMENTS: If Seller is a "foreign person," as defined by applicable law, or if Seller fails to deliver an affidavit to Buyer that Seller 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. Internal Revenue Service regulations require filing written reports if currency in excess of specified amounts is received in the transaction. 21. NOTICES: All notices from one party to the other must be in writing and are effective when mailed to, hand -delivered at, or transmitted by facsimile or electronic transmission as follows: To Buyer at: To Seller at. Becky: 512-228-8193 beckyskywalker@gmail.com Telephone: Telephone: (603) 589-5773 Facsimile: Facsimile: E-mail: E-mail: kellijuana@graail.com TAR 1601 Initialed for identification by Buyer and Seller Produced with zipForrr® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziDLoaix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 (Address of Property) 22. AGREEMENT OF PARTIES: This contract contains cannot be changed except by their written agreement. are (Check all applicable boxes): ❑ Third Party Financing Addendum for Credit Approval O Seller Financing Addendum ❑ Addendum for Property Subject to Mandatory Membership in a Property Owners Association O Buyer's Temporary Residential Lease D Loan Assumption Addendum ❑ Addendum for Sale of Other Property by Buyer ❑ Addendum for Reservation of Oil, Gas and Other Minerals Page 8 of 9 12-05-2011 the entire agreement of the parties and Addenda which are a part of this contract O Addendum for "Back -Up" Contract ❑ Addendum for Coastal Area Property O Environmental Assessment, Threatened or Endangered Species and Wetlands Addendum O Seller's Temporary Residential Lease O Short Sale Addendum O Addendum for Property Located Seaward of the Gulf Intracoastal Waterway O Addendum for Seller's Disclosure of Information on Lead-based Paint and Lead-based Paint Hazards as Required by Federal Law O Other (list): 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 0 will ❑ 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: 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: Attorney is: Telephone: Facsimile: E-mail: Telephone: Facsimile: E-mail: EXECUTED the day of (BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.) (EFFECTIVE DATE). Buyer City of Round Rock Buyer Seller Kelly R Miller Seller The form of this contract has been approved by the Texas Real Estate Commission. TREC forms are intended for use only by trained 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 (http:// www.trec.texas.gov) TREC NO. 20-11. This form replaces TREC NO. 20-10. TAR 1601 Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 (Address of Property) Page 9 of 9 12-05-2011 BROKER INFORMATION ACE Realty 420548 Other Broker Firm License No. Listing Broker Firm License No. represents ❑ Buyer only as Buyer's agent represents ❑ Seller and Buyer as an intermediary ❑ Seller as Listing Broker's subagent 0 Seller only as Seller's agent James Espinosa (512)844-0957 Licensed Supervisor of Associate Telephone Licensed Supervisor of Associate Telephone Associate James Espinosa (512)844-0957 Telephone Listing Associate Telephone Other Broker's Address P.O.Box 151468 (512)326-4261 Facsimile Listing Broker's Office Address Facsimile Austin TX City State Zip City State 78715 lamesespinosa@topproducer.com Associate Email Address Listing Associate's Email Address Zip Selling Associate Telephone Selling Associate's Office Address Facsimile City State Zip Selling Associate's Email Address Listing Broker has agreed to pay Other Broker of the total sales price when the Listing Broker's fee is received. Escrow Agent is authorized and directed to pay other Broker from Listing Broker's fee at closing. Receipt of $ OPTION FEE RECEIPT (Option Fee) in the form of Seller or Listing Broker is acknowledged. Date CONTRACT AND EARNEST MONEY RECEIPT Receipt of ❑ Contract and ❑ $ Earnest Money in the form of is acknowledged. Escrow Agent: By: Address City State Zip Date: Email Address Telephone: Facsimile: TAR 1601 Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.com TREC NO. 20-11 Miller, Kelly ROUND ROCK, TEXAS PURPOSE vtaon PROSPERITY City of Round Rock Agenda Item Summary Agenda Number: G.4 Title: Consider a resolution authorizing the Mayor to execute a real estate contract with Kelly R. Miller for the purchase of property located at 1710 Cushing Park Drive. Type: Resolution Governing Body: City Council Agenda Date: 1/23/2014 Dept Director: Gary D. Hudder, Transportation Director Cost: $160,000.00 Indexes: RR Transportation and Economic Development Corporation (Type B) Attachments: Resolution, Exhibit A, Seller Disclosure Department: Transportation Department Text of Legislative File 14-1077 Recently, staff learned that the property located at 1710 Cushing Park Drive had been placed on the market for sale. During schematic preparation of the widening of Gattis School Road, this property has been identified as being necessary for the future expansion of the roadway. Acquisition of this property at this time will be beneficial because it could avoid a costly condemnation process, and it could avoid relocation costs for the property should another owner occupy the property. The valuation of this property was determined to be $160,000, based upon a previously submitted contract to purchase this property. Execution of this contract will initiate the purchase of this property, and secure it for the future expansion of Gattis School Road. Cost: $160,000.00 Source of Funds: Type B Corporation Approval City of Round Rock Page 1 Printed on 1/22/2014 I UALJOWSWC OPPORTUNITY PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) ONE TO FOUR FAMILY RESIDENTIAL CONTRACT (RESALE) NOTICE: Not For Use For Condominium Transactions C201P 1. PARTIES: The parties to this contract are Kelly R Miller (Seller) and city of Round Rock (Buyer). Seller agrees to sell and convey to Buyer and Buyer agrees to buy from Seller the Property defined below. 2. PROPERTY: A. LAND: Lot 8 Block B Cushing Park Addition, City of Round Rock , County of Williamson Texas, known as 1710 Cushing Park Dr 78664 (address/zip code), or as described on attached exhibit. B. IMPROVEMENTS: The house, garage and all other fixtures and improvements attached to the above-described real property, including without limitation, the following permanently installed and built-in items, if any: all equipment and appliances, valances, screens, shutters, awnings, wall-to-wall carpeting, mirrors, ceiling fans, attic fans, mail boxes, television antennas and satellite dish system and equipment, mounts and brackets for televisions and speakers, heating and air-conditioning units, security and fire detection equipment, wiring, plumbing and lighting fixtures, chandeliers, water softener system, kitchen equipment, garage door openers, cleaning equipment, shrubbery, landscaping, outdoor cooking equipment, and all other property owned by Seller and attached to the above described real property. C. ACCESSORIES: The following described related accessories, if any: window air conditioning units, stove, fireplace screens, curtains and rods, blinds, window shades, draperies and rods, door keys, mailbox keys, above ground pool, swimming pool equipment and maintenance accessories, artificial fireplace Togs, and controls for: (i) satellite dish systems, (ii) garage doors, (iii) entry gates, and (iv) other improvements and accessories. D. EXCLUSIONS: The following improvements and accessories will be retained by Seller and must be removed prior to delivery of possession: The land, improvements and accessories are collectively referred to as the "Property". 3. SALES PRICE: A. Cash portion of Sales Price payable by Buyer at closing $ 160 ,000 . 00 B. Sum of all financing described below (excluding any loan funding fee or mortgage insurance premium) $ C. Sales Price (Sum of A and B) $ 160 ,000 . 00 4. FINANCING: The portion of Sales Price not payable in cash will be paid as follows: (Check applicable boxes below) ❑ A. THIRD PARTY FINANCING: One or more third party mortgage loans in the total amount of $ (excluding any loan funding fee or mortgage insurance premium). (1) Property Approval: If the Property does not satisfy the lenders' underwriting requirements for the loan(s), (including, but not limited to appraisal, insurability and lender required repairs), Buyer may terminate this contract by giving notice to Seller prior to closing and the earnest money will be refunded to Buyer. (2) Credit Approval: (Check one box only) 0 (a) This contract is subject to Buyer being approved for the financing described in the attached Third Party Financing Addendum for Credit Approval. ❑ (b) This contract is not subject to Buyer being approved for financing and does not involve FHA or VA financing. 0 B. ASSUMPTION: The assumption of the unpaid principal balance of one or more promissory notes described in the attached TREC Loan Assumption Addendum. 0 C. SELLER FINANCING: A promissory note from Buyer to Seller of $ secured by vendor's and deed of trust liens, and containing the terms and conditions described in the attached TREC Seller Financing Addendum. If an owner policy of title insurance is furnished, Buyer shall furnish Seller with a mortgagee policy of title insurance. TAR 1601 Initialed for identification by Buyer and Seller TREC NO. 20-11 ACE Realty,6800 Westgate Blvd, Ste. 132-300 Auslin,TX 78745 Phone: 512-844.0957 Fax: 512-892-3495 James Espinosa Produced with zipForme. by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.cam Miller, Kelly -�- Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 Page 2 of 9 -0 - (Address of Property) 5. EARNEST MONEY: Upon execution of this contract by all parties, Buyer shall deposit $1,500.00 as earnest money with First American Title — Diana R , as escrow agent, at 3520 Executive Center Dr, G100, Austin 78731 (address). Buyer shall deposit additional earnest money of $ with escrow agent within days after the effective date of this contract. If Buyer fails to deposit the earnest money as required by this contract, Buyer will be in default. 6. TITLE POLICY AND SURVEY: A.TITLE POLICY: Seller shall furnish to Buyer at ❑ Seller's ❑x Buyer's expense an owner policy of title insurance (Title Policy) issued by First American Title Company (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 and assessments. (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 marital rights. (7) The standard printed exception as to waters, tidelands, beaches, streams, and related matters. (8) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements. Buyer, at Buyer's expense, may have the exception amended to read, "shortages in area". B. COMMITMENT: Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Buyer a commitment for title insurance (Commitment) and, at Buyer's expense, legible copies of restrictive covenants and documents evidencing exceptions in the Commitment (Exception Documents) other than the standard printed exceptions. Seller authorizes the Title Company to deliver the Commitment and Exception Documents to Buyer at Buyer's address shown in Paragraph 21. If the Commitment and Exception Documents are not delivered to Buyer within the specified time, the time for delivery will be automatically extended up to 15 days or the Closing Date, whichever is earlier. If, due to factors beyond Seller's control, the Commitment and Exception Documents are not delivered within the time required, Buyer may terminate this contract and the earnest money will be refunded to Buyer. C. SURVEY: The survey must be made by a registered professional land surveyor acceptable to the Title Company and Buyer's lender(s). (Check one box only) 0 (1) Within days after the effective date of this contract, Seller shall furnish to Buyer and Title Company Seller's existing survey of the Property and a Residential Real Property Affidavit promulgated by the Texas Department of Insurance (T-47 Affidavit). If Seller fails to furnish the existing survey or affidavit within the time prescribed, Buyer shall obtain a new survey at Seller's expense no later than 3 days prior to Closing Date. If the existing survey or affidavit is not acceptable to Title Company or Buyer's lender(s), Buyer shall obtain a new survey at 0 Seller's ❑ Buyer's expense no later than 3 days prior to Closing Date. 0 (2) Within 10 days after the effective date of this contract, Buyer shall obtain a new survey at Buyer's expense. Buyer is deemed to receive the survey on the date of actual receipt or the date specified in this paragraph, whichever is earlier. ❑ (3) Within days after the effective date of this contract, Seller, at Seller's expense shall furnish a new survey to Buyer. D. OBJECTIONS: Buyer may object in writing to defects, exceptions, or encumbrances to title: disclosed on the survey other than items 6A(1) through (7) above; disclosed in the Commitment other than items 6A(1) through (8) above; or which prohibit the following use or activity: Buyer must object the earlier of (i) the Closing Date or (ii) days after Buyer receives the Commitment, Exception Documents, and the survey. Buyer's failure to object within the time allowed will constitute a waiver of Buyer's right to object; except that the requirements in Schedule C of the Commitment are not waived by Buyer. Provided Seller is not obligated to incur any expense, Seller shall cure the timely objections of Buyer or any third party TAR 1601 Initialed for identification by Buyer and Seller Produced with zipForm®by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLooix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, T% 78664 Page 3 o 9 1- 5-2 1 (Address of Property) lender within 15 days after Seller receives the objections and the Closing Date will be extended as necessary. If objections are not cured within such 15 day period, this contract will terminate and the earnest money will be refunded to Buyer unless Buyer waives the objections. E. TITLE NOTICES: (1) ABSTRACT OR TITLE POLICY: Broker advises Buyer to have an abstract of title covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished with or obtain a Title Policy. 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. (2) MEMBERSHIP IN PROPERTY OWNERS ASSOCIATION(S): The Property ❑ is x❑ is not subject to mandatory membership in a property owners association(s). If the Property is subject to mandatory membership in a property owners association(s), Seller notifies Buyer under §5.012, Texas Property Code, that, as a purchaser of property in the residential community identified in Paragraph 2A in which the Property is located, you are obligated to be a member of the property owners association(s). Restrictive covenants governing the use and occupancy of the Property and all dedicatory instruments governing the establishment, maintenance, and operation of this residential community have been or will be recorded in the Real Property Records of the county in which the Property is located. Copies of the restrictive covenants and dedicatory instrument may be obtained from the county clerk. You are obligated to pay assessments to the property owners association(s). The amount of the assessments is subject to change. Your failure to pay the assessments could result in enforcement of the association's lien on and the foreclosure of the Property. Section 207.003, Property Code, entitles an owner to receive copies of any document that governs the establishment, maintenance, or operation of a subdivision, including, but not limited to, restrictions, bylaws, rules and regulations, and a resale certificate from a property owners' association. A resale certificate contains information including, but not limited to, statements specifying the amount and frequency of regular assessments and the style and cause number of lawsuits to which the property owners' association is a party, other than lawsuits relating to unpaid ad valorem taxes of an individual member of the association. These documents must be made available to you by the property owners' association or the association's agent on your request. If Buyer is concerned about these matters, the TREC promulgated Addendum for Property Subject to Mandatory Membership in a Property Owners Association(s) should be used. (3) STATUTORY TAX DISTRICTS: If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control facilities and services, Chapter 49, 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. (4) TIDE WATERS: If the Property abuts the tidally influenced waters of the state, §33.135, Texas Natural Resources Code, requires a notice regarding coastal area property to be included in the contract. An addendum containing the notice promulgated by TREC or required by the parties must be used. (5) ANNEXATION: If the Property is located outside the limits of a municipality, Seller notifies Buyer under §5.011, Texas Property Code, that the Property may now or later be included in the extraterritorial jurisdiction of a municipality and may now or later be subject to 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 TAR 1601 Initialed for identification by Buyer and Seller Produced with zipFome by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLooix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 Page 4 of 9C5C1 (Address of Property) 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) TRANSFER FEES: If the Property is subject to a private transfer fee obligation, §5.205, Property Code, requires Seller to notify Buyer as follows: The private transfer fee obligation may be governed by Chapter 5, Subchapter G of the Texas Property Code. 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 immediately cause existing utilities to be turned on and shall keep the utilities on during the time this contract is in effect. B. SELLER'S DISCLOSURE NOTICE PURSUANT TO §5.008, TEXAS PROPERTY CODE (Notice): (Check one box only) (1) Buyer has received the Notice. 101 (2) Buyer has not received the Notice. Within days after the effective date of this contract, Seller shall deliver the Notice to Buyer. If Buyer does not receive the Notice, Buyer may terminate this contract at any time prior to the closing and the earnest money will be refunded to Buyer. If Seller delivers the Notice, Buyer may terminate this contract for any reason within 7 days after Buyer receives the Notice or prior to the closing, whichever first occurs, and the earnest money will be refunded to Buyer. ❑ (3) The Seller is not required to furnish the notice under the Texas Property Code. C. SELLER'S DISCLOSURE OF LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS is required by Federal law for a residential dwelling constructed prior to 1978. D. ACCEPTANCE OF PROPERTY CONDITION: (Check one box only) LI (1) Buyer accepts the Property in its present condition. 0 (2) Buyer accepts the Property in its present condition provided Seller, at Seller's expense, shall complete the following specific repairs and treatments: . (Do not insert general phrases, such as "subject to inspections" that do not identify specific repairs.) NOTICE TO BUYER AND SELLER: Buyer's agreement to accept the Property in its present condition under Paragraph 7D(1) or (2) does not preclude Buyer from inspecting the Property under Paragraph 7A, from negotiating repairs or treatments in a subsequent amendment, or from terminating this contract during the Option Period, if any. E. LENDER REQUIRED REPAIRS AND TREATMENTS: Unless otherwise agreed in writing, neither party is obligated to pay for lender required repairs, whichincludes treatment for wood destroying insects. If the parties do not agree to pay for the lender required repairs or treatments, this contract will terminate and the earnest money will be refunded to Buyer. If the cost of lender required repairs and treatments exceeds 5% of the Sales Price, Buyer may terminate this contract and the earnest money will be refunded to Buyer. F. COMPLETION OF REPAIRS AND TREATMENTS: Unless otherwise agreed in writing, Seller shall complete all agreed repairs and treatments prior to the Closing Date. All required permits must be obtained, and repairs and treatments must be performed by persons who are licensed or otherwise authorized by law to provide such repairs or treatments. At Buyer's election, any transferable warranties received by Seller with respect to the repairs and treatments will be transferred to Buyer at Buyer's expense. If Seller fails to complete any agreed repairs and treatments prior to the Closing Date, Buyer may exercise remedies under Paragraph 15 or extend the Closing Date up to 15 days if necessary for Seller to complete the repairs and treatments. PY TAR 1601 Initialed for identification by Buyer and Seller Produced with zipForm®by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLoaix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 Page 5 of 12-0 20 1 (Address of Property) G. 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. H. RESIDENTIAL SERVICE CONTRACTS: Buyer may purchase a residential service contract from a residential service company licensed by TREC. If Buyer purchases a residential service contract, Seller shall reimburse Buyer at closing for the cost of the residential service contract in an amount not exceeding $ —0— . Buyer should review any residential service contract for the scope of coverage, exclusions and limitations. The purchase of a residential service contract is optional. Similar coverage may be purchased from various companies authorized to do business in Texas. 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 February 14 , 2014 , or within 7 days after objections made under Paragraph 6D have been cured or waived, whichever date is later (Closing Date). If either party fails to close the sale by the Closing Date, the non - defaulting party may exercise the remedies contained in Paragraph 15. B. At closing: (1) Seller shall execute and deliver a general warranty deed conveying title to the Property to Buyer and showing no additional exceptions to those permitted in Paragraph 6 and furnish tax statements or certificates showing no delinquent taxes on the Property. (2) Buyer shall pay the Sales Price in good funds acceptable to the escrow agent. (3,) Seller and Buyer shall execute and deliver any notices, statements, certificates, affidavits, releases, loan documents and other documents reasonably required for the closing of the sale and the issuance of the Title Policy. (4) There will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds unless securing the payment of any loans assumed by Buyer and assumed loans will not be in default. (5) If the Property is subject to a lease, Seller shall (i) deliver to Buyer the lease(s) and the move -in condition form signed by the tenant, if any, and (ii) transfer security deposits (as defined under §92.102, Property Code), if any, to Buyer. In such an event, Buyer shall deliver to the tenant a signed statement acknowledging that the Buyer has received the security deposit and is responsible for the return of the security deposit, and specifying the exact dollar amount of the security deposit. 10. POSSESSION: Seller shall deliver to Buyer possession of the Property in its resent or required condition, ordinary wear and tear excepted: 0 upon closing and funding Li according to a temporary residential lease form promulgated by TREC or other written lease required by the parties. Any possession by Buyer prior to closing or by Seller after closing which is not authorized by a written lease will establish a tenancy at sufferance relationship between the parties. Consult your insurance agent prior to change of ownership and possession because insurance coverage may be limited or terminated. The absence of a written lease or appropriate insurance coverage may expose the parties to economic loss. 11. SPECIAL PROVISIONS: (Insert only factual statements and business details applicable to the sale. TREC rules prohibit licensees from adding factual statements or business details for which a contract addendum, lease or other form has been promulgated by TREC for mandatory use.) Contract Price of home will not change even if an appraisal finds home value to be different than contracted price. Seller may withdraw offer at any time before City signs and accepts contract. This offer is valid until January 28, 2014 at which time it becomes null and void. Broker fee is paid by Seller. Buyer May withdraw offer at any time after 5:00 PM on January 29, 2014 TAR 1601 Initialed for identification by Buyer and Seller Produced with zipForrne by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziDLooix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 (Address of Property) 12. SETTLEMENT AND OTHER EXPENSES: A. The following expenses must be paid at or prior to closing: (1) Expenses payable by Seller (Seller's Expenses): (a) Releases of existing liens, including prepayment penalties and recording fees; release of Seller's loan liability; tax statements or certificates; preparation of deed; one-half of escrow fee; and other expenses payable by Seller under this contract. (b) Seller shall also pay an amount not to exceed $ —0— to be applied in the following order: Buyer's Expenses which Buyer is prohibited from paying by FHA, VA, Texas Veterans Land Board or other governmental loan programs, and then to other Buyer's Expenses as allowed by the lender. (2) Expenses payable by Buyer (Buyer's Expenses): Appraisal fees; loan application fees; adjusted origination charges; credit reports; preparation of loan documents; interest on the notes from date of disbursement to one month prior to dates of first monthly payments; recording fees; copies of easements and restrictions; loan title policy with endorsements required by lender; loan -related inspection fees; photos; amortization schedules; one-half of escrow fee; all prepaid items, including required premiums for flood and hazard insurance, reserve deposits for insurance, ad valorem taxes and special governmental assessments; final compliance inspection; courier fee; repair inspection; underwriting fee; wire transfer fee; expenses incident to any loan; Private Mortgage Insurance Premium (PMI), VA Loan Funding Fee, or FHA Mortgage Insurance Premium (MIP) as required by the lender; and other expenses payable by Buyer under this contract. B. If any expense exceeds an amount expressly stated in this contract for such expense to be paid by a party, that party may terminate this contract unless the other party agrees to pay such excess. Buyer may not pay charges and fees expressly prohibited by FHA, VA, Texas Veterans Land Board or other governmental loan program regulations. 13. PRORATIONS: Taxes for the current year, interest, maintenance fees, assessments, dues and rents will be prorated through the Closing Date. The tax proration may be calculated taking into consideration any change in exemptions that will affect the current year's taxes. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available. If taxes are not paid at or prior to closing, Buyer shall pay taxes for the current year. 14. CASUALTY LOSS: If any part of the Property is damaged or destroyed by fire or other casualty after the effective date of this contract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event by the Closing Date. If Seller fails to do so due to factors beyond Seller's control, Buyer may (a) terminate this contract and the earnest money will be refunded to Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary or (c) accept the Property in its damaged condition with an assignment of insurance proceeds and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller's obligations under this paragraph are independent of any other obligations of Seller under this contract. 15. DEFAULT: If Buyer fails to comply with this contract, Buyer will be in default, and Seller may (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 fails to comply with this contract, Seller will be in default and Buyer may (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, thereby releasing both parties from this contract. 16. MEDIATION: It is the policy of the State of Texas to encourage resolution of disputes through alternative dispute resolution procedures such as mediation. Any dispute between Seller and Buyer related to this contract which is not resolved through informal discussion 0 will ❑ will not be submitted to a mutually acceptable mediation service or provider. The parties to the mediation shall bear the mediation costs equally. This paragraph does not preclude a party from seeking equitable relief from a court of competent jurisdiction. TAR 1601 Initialed for identification by Buyer and Seller TREC NO. 20-11 Produced with zipForm®by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLoaix.com Miller, Kelly Y 1710 Cushing Park Dr Contract Concerning Round Rock, TX 78664 (Address of Property) 17. ATTORNEY'S FEES: A Buyer, Seller, Listing Broker, Other Broker, or escrow agent who prevails in any legal proceeding related to this contract is entitled to recover reasonable attorney's fees and all costs of such proceeding. 18. ESCROW: A. ESCROW: The escrow agent is not (i) a party to this contract and does not have liability for the performance or nonperformance of any party to this contract, (ii) liable for interest on the earnest money and (iii) liable for the loss of any 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. B. EXPENSES: At closing, the earnest money must be applied first to any cash down payment, then to Buyer's Expenses and any excess refunded to Buyer. If no closing occurs, escrow agent may: (i) require a written release of liability of the escrow agent from all parties, (ii) require payment of unpaid expenses incurred on behalf of a party, and (iii) only deduct from the earnest money the amount of unpaid expenses incurred on behalf of the party receiving the earnest money. C. DEMAND: Upon termination of this contract, either party or the escrow agent may send a release of earnest money to each party and the parties shall execute counterparts of the release and deliver same to the escrow agent. If either party fails to execute the release, either party may make a written demand to the escrow agent for the earnest money. If only one party makes written demand for the earnest money, escrow agent shall promptly provide a copy of the demand to the other party. If escrow agent does not receive written objection to the demand from the other party within 15 days, escrow agent may disburse the earnest money to the party making demand reduced by the amount of unpaid expenses incurred on behalf of the party receiving the earnest money and escrow agent may pay the same to the creditors. If escrow agent complies with the provisions of this paragraph, each party hereby releases escrow agent from all adverse claims related to the disbursal of the earnest money. D. DAMAGES: Any party who wrongfully fails or refuses to sign a release acceptable to the escrow agent within 7 days of receipt of the request will be liable to the other party for liquidated damages in an amount equal to the sum of: (i) three times the amount of the earnest money; (ii) the earnest money; (iii) reasonable attorney's fees; and (iv) all costs of suit. E. NOTICES: Escrow agent's notices will be effective when sent in compliance with Paragraph 21. Notice of objection to the demand will be deemed effective upon receipt by escrow agent. 19. REPRESENTATIONS: All covenants, representations and warranties in this contract survive closing. If any representation of Seller in this contract is untrue on the Closing Date, Seller will be in default. Unless expressly prohibited by written agreement, Seller may continue to show the Property and receive, negotiate and accept back up offers. 20. FEDERAL TAX REQUIREMENTS: If Seller is a "foreign person," as defined by applicable law, or if Seller fails to deliver an affidavit to Buyer that Seller 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. Internal Revenue Service regulations require filing written reports if currency in excess of specified amounts is received in the transaction. 21. NOTICES: All notices from one party to the other must be in writing and are effective when mailed to, hand -delivered at, or transmitted by facsimile or electronic transmission as follows: To Buyer at: To Seller at" Page 7 of12- -2 'eye Telephone: 612 . . 54 ( Facsimile: . 12. 21 E-mail: aYloirtn1Oect ® YD i7I6F-V J "'E-mail: kellijuana@gmall.com Becky: 512-228-8193 beckyskywalker@cmail.com Telephone: (603) 589-5773 Facsimile: TAR 1601 Initialed for identification by Buyer and Seller TREC NO. 20-11 Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLogix.com Miller, Kelly 1710 Cushing Park Dr Contract Concerning Round Rock, TX 78664 (Address of Property) Page 8 of 12- P 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 Approval ❑ Seller Financing Addendum ❑ Addendum for Property Subject to Mandatory Membership in a Property Owners Association ❑ Buyer's Temporary Residential Lease ❑ Loan Assumption Addendum ❑ Addendum for Sale of Other Property by Buyer ❑ Addendum for Reservation of Oil, Gas and Other Minerals ❑ Addendum for "Back -Up" Contract ❑ Addendum for Coastal Area Property ❑ Environmental Assessment, Threatened or Endangered Species and Wetlands Addendum ❑ Seller's Temporary Residential Lease ❑ Short Sale Addendum ❑ Addendum for Property Located Seaward of the Gulf Intracoastal Waterway ❑ Addendum for Seller's Disclosure of Information on Lead-based Paint and Lead-based Paint Hazards as Required by Federal Law ❑ Other (list): 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 ❑ 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: 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 sicning. Buyer'sSeller's Attorney is: Al • ��� Attorney is: Telephone: S%•2'� " 4#77 Facsimile: E-mail: &elite) scrrl e.40. co Telephone: Facsimile: E-mail: EXECUTED the day of (BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.) (EFFECTIVE DATE).: Buyer City of Round Rock 44/41 t\e-qvavv, Mayer Seller Kelly R Miller Seller The form of this contract has been approved by the Texas Real Estate Commission. TREC forms are intended for use only by trained 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 (http:// www.trec.texas.gov) TREC NO. 20-11. This form replaces TREC NO. 20-10. TAR 1601 Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoaix.com TREC NO. 20-11 Miller, Kelly Contract Concerning 1710 Cushing Park Dr Round Rock, TX 78664 (Address of Property) 11'Y Page 9 of 1 BROKER INFORMATION ACE Realty 420548 Other Broker Firm License No. Listing Broker Firm License No. represents ❑ Buyer only as Buyer's agent ❑ Seller as Listing Broker's subagent Licensed Supervisor of Associate represents ❑ Seller and Buyer as an intermediary X❑ Seller only as Seller's agent James Espinosa (51.2) 844-0957 Telephone Licensed Supervisor of Associate Telephone Associate James Espinosa (512) 844-0957 Telephone Listing Associate Telephone Other Broker's Address P.O.Box 151468 (512)326-4261 Facsimile Listing Broker's Office Address Facsimile Austin TX City State Zip City State 78715 jamesespinosa@topproducer.com Zip Associate Email Address Listing Associate's Email Address Selling Associate Telephone Selling Associate's Office Address Facsimile City State Zip Selling Associate's Email Address Listing Broker has agreed to pay Other Broker of the total sales price when the Listing Broker's fee is received. Escrow Agent is authorized and directed to pay other Broker from Listing Broker's fee at closing. OPTION FEE RECEIPT Receipt of $ (Option Fee) in the form of Seller or Listing Broker , is acknowledged. Date CONTRACT AND EARNEST MONEY RECEIPT Receipt of ❑ Contract and ❑ $ is acknowledged. Escrow Agent: Date: Earnest Money in the form of By: Address City State Zip Email Address Telephone: Facsimile: TAR 1601 Produced with zipForrn® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoolx.com TREC NO. 20-11 Miller, Kelly DocuSign Envelope ID: EAC25D71-C205-4C80-9DD4-996642720D77 AUSTIN BOARD of REALTORS' AUSTIN/CENTRAL TEXAS REALTY INFORMATION SERVIC ) SELLER'S DISCLOSURE NOTICE THIS FORM IS FURNISHED BY THE AUSTIN/CENTRAL TEXAS REALTY INFORMATION SERVICE FOR USE BY ITS PARTICIPANTS AND REPRESENTED SELLERS. NOTE: EFFECTIVE JANUARY 1, 1994, SECTION 5.008 OF THE TEXAS PROPERTY CODE REQUIRES A SELLER OF RESIDENTIAL REAL PROPERTY OF NOT MORE THAN ONE DWELLING UNIT TO DELIVER A COPY OF THE SELLER'S DISCLOSURE NOTICE, COMPLETE TO THE BEST OF THE SELLER'S BELIEF AND KNOWLEDGE, TO A PURCHASER ON OR BEFORE THE EFFECTIVE DATE OF A CONTRACT FOR THE SALE OF THE PROPERTY. IFA CONTRACT IS ENTERED INTO WITHOUT THE SELLER PROVIDING THE NOTICE, THE BUYER MAY TERMINATE THE CONTRACT FOR ANY REASON WITHIN SEVEN (7) DAYS AFTER RECEIVING THE NOTICE. IF INFORMATION REQUIRED BY THE NOTICE IS UNKNOWN TO THE SELLER, THE SELLER MAY INDICATE THAT FACT ON THE NOTICE AND THEREBY COMPLY WITH THE REQUIREMENTS OF SECTION 5.008 OF THE TEXAS PROPERTY CODE. This form complies with and contains additional disclosures which exceed the minimum required by the Code. CONCERNING THE PROPERTY AT 1710 Cushing Park Dr Round Rock (Street Address and City) THIS NOTICE IS A DISCLOSURE OF SELLER'S KNOWLEDGE OF THE CONDITION OF THE PROPERTY AS OF THE DATE SIGNED BY SELLER AND IS NOT A SUBSTITUTE FOR ANY INSPECTIONS OR WARRANTIES THE PURCHASER MAY WISH TO OBTAIN. IT IS NOT A WARRANTY OF ANY KIND BY SELLER, SELLER'S AGENTS, OR ANY OTHER AGENT. Seller 0 is Ellis not occupying the Property. If unoccupied, how long since Seller has occupied the Property? £I1 Et" vy1 ovout OCT a0/D Seller Ids ❑ is not knowledgeable of the current condition of the Property. The Property ❑ is els not currently leased and L has 0 has not been leased in the last two (2) years. If leased, how long? fZ NTers lived_ -lin OCT. Ala 10 7o An/rah aSsr 2.0 t 3 During the last year the Property Lt'Fas 0 has not been vacant. If yes, how long was the Property vacant? Sl3/ 2�S / nrc. 13 1. FEATURES AND EQUIPMENT (Mark all appropriate items that EXIST and their WORKING CONDITION): NOTE: This notice does not establish which items will or will not be conveyed. The terms of the Contract will determine which items will and will not be conveyed. Y=Yes, N=No, U= Unknown Exists Item Working Condition Additional Information n/ Bathroom Heater Y N U • # [E] [G] N Cable TV Wiring Y N U d Carport Y N U # of Spaces Attached [Y] [N] n/ Carbon Monoxide Detector Y N U # • Y Central Air Conditioning CD N U # [EJ [G] `/ Central Heating CY.) N U # [E] [G] [HP] n1 Central Vacuum Y N U ' / Chimney Y N ca D '4 Cook ToKSio`_y_.0 ® N U [E] [G] # of Burners Other: p/ Deck errv2 4.42i N U Wood [ ] Other [ ] NI Dishwasher 114 N U '/ Disposal ap N U N Dryer Y N U [E] [G] [1I0V] [220V] •y Dryer Hookups Cir) N U (11'P [220V] [G] A/ Emergency Escape Ladder(s) Y N U N Evaporative Cooler Y N U # '/ Fans co N U Ceiling #5 Attic # 0 Exhaust # o Whole House # U Features and Equipment ContinueseNPgtPage Initialed for Identification by Seller and Buyer © 2011 Austin Board of REALTORS® ACE Realty,6800 Westgate Blvd., Ste. 132-300 Austin,TX 78745 Phone:512-844-0957 Fax: 512-892-3495 James Espinosa Produced with zipForni by zipLogix 18070 Fifteen Mile Road. Fraser, Michigan 48026 wumziolooix.com Page 1 of 8 Miller, Kelly DocuSign Envelope ID: EAC25D71-C205-4C80-9DD4-996642720077 Seller's Disclosure Notice Concerning Property At: 1710 Cushing Park Dr COPY Round Rock, TX 78664 Exists Item Working Condition Additional Information y Fencing ® N U Full [V( Partial [ ] Type: WO o cL /V Fire Alarm/Detector Y N U # ,' Fireplace Y N Q # /V Fireplace Logs Y N U # A/ French Drain Y N U 'Y Garage cr) N U Attached: QJ [N] # Spaces ' 's/ Garage Door Opener Cip N U # 1 / Garage Remote Control(s) CO N U # Al Gas Lighting Fixtures Y N U # `/ Gas Lines Y N U (n[LP] N Gazebo Y N U • N Grinder Pump Y N U A/ Ice Machine Y N U ;/V Intercom System Y - N U /1/ Lawn Sprinkler System Y N U Full [ ] Partial [ ] Automatic [ 1 Manual [ ] N Liquid Propane Gas Y N U LP Community (Captive) ( ] LP on Property [ ] Al Microwave Y N U /J L Mock Fireplace Y N U With Chimney [ ] Without Chimney [ 1 /V Outdoor Grill Y N U [NAT] [LP] [E] y Oven t v S -rove Y N U [E] y Patio Y N U Covered [+•]' Uncovered [ ] y Plumbing System c N U Y Pool N U Inground [t.]' Above Ground [ ] Other [ ] it/ Pool Accessories Y N . U A/ Pool Heater Y N U At Pool Maintenance Equip. Y N U a Portable Storage Buildings Y N U # Public Sewer System N U A/ Rain Gutters Errat. N U Full [ 1 Partial [ 1 y Range N U [E] (OD Refrigerator � N U # Y Roof Attic Vents N U A/ Satellite Dish System Y N U Owned [ 1 Leased [ ] A/ Sauna Y N U # ,V Security System Y N U Owned [ ] Leased [ ] Mo. Lease $ /i/ Septic System/Tank Y N U Date Last Pumped: y Smoke Detector(s) ® N U # 5 Hearing Impaired [Y] rJ Spa/Hot Tub Y N U # iv Spa Heater Y N U # [E] [G] [Solar] AI Space Heater Y N U # [E] [G] Ai Speakers Y N U /V Specialty Wiring Y N U Audio [ ] Data [ ] Speakers [ 1 Visual [ ] A/ Sump Pump Y N U # A/ Trash Compactor Y N U # A/ TV Antenna Y N U # p/ Wall/Window A/C Y N U # j Washer Y N U y Washer Hookups CD N U \/ Water Heater ® N U # [E]D [Solar] A/ Water Softener Y N U Owned [ ] Leased [ ] Mo. Lease/Service Chg $ y Window Screens UY N U # /o Type: fr Esh Other: nsY N U Other: raNY N U Initialed for Identification by Sell e�, and Buyer O 2011 Austin Board of REALTORS® Produced with zipFornfitby 21pLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 wwwzioloaix.com Page 2 of 8 Miee , Ke11y DocuSign Envelope ID: EAC25D71-C205-4C80-9DD4-996642720077 1710 Cushing Park Dr COPY Seller's Disclosure Notice Concerning Property At: Round Rock, TX 78664 Explain all No [N] or Unknown [U] answers. Attach additional sheets as necessary. Uli kroo uhn/ 1 F Ft R,EPc/1 c L= AN cL Ct+IAANE'f wo0t4, rbEcruAse NMv-er use. a-- US i Oc=Cor/AitVE The seller excludes the following items from the sale: N/A 2. UTILITY PROVIDERS and 0114 of WATER Supply: Rn u^'d tl oc K 1 City U Well 0 Private 0 MUD ❑ WCID :7 Co -Op 0 Other Chry o1-' WASTEWATER: -R°"Ph:512 t $ 5 Li to o [Veit), 0 Co -Op 0 MUD 0 Other 0 Septic ELECTRICITY•A rn 611 CP' Er51 Ph• ►-51?. a13a(Pa4 8 CABLE TV: J" /h Ph: SOLID WASTE PROVIDER: ct cy °� Ph: 512. °td 8 tt ID 0 Rounv0. RoCIC 3. PROPERTY DEFECTS/MALFUNCTIONS: HOMEOWNERS' ASSOCIATION (Fill in names of Suppliers with Telephone Numbers): Ph:512a11S541,0 GAS Supply: AT rr+os Blue 9'1 Ph. [ - $$gal$to 0°0 Lg'Utility 0 Tank 0 Bottle 0 Co -Op Tank/Bottle Mo. Lease $ HOA/CONDO ASSOC: N1 /{ 0 Mandatory 0 Voluntary Association Fee $ per HOA's Administrative Transfer Fee of $ (Fee(s) above shall include all costs of transfer of ownership) Manager's Name. Manager's Telephone: Are you (Seller) aware of any known defects/malfunctions in any of the following? Mark Yes [Y] if you are aware and mark No [N] if you are not aware. Exists Item Defect/ Malfunction • g Exists Item Defect/ Malfunction Basement Y N 6 ✓ Potable Drinking Water Y CND v CeiIings Y <ED 0 Retaining Wall(s) Y N v Driveway(s) Y v Roof Y CD v Electrical System(s) Y CED Overlay Shingles: [Y] 4:511 V Exterior Doors Y QV k Roof Approximate Age: 5tnus ,/ Exterior Walls Y d37 V Roof Type: a5 `len•r Sh,N9LL5 t/ Floors Y d Septic System: Type: Y N ,/ Foundation: Slab [vr Pier & Beam [ ] Y t Sidewalks Y N V Interior Doors Y <ID 4 Stucco Y N I/ Interior Walls Y CID a Conventional [ ] Synthetic [ ] Type v Lighting Fixtures Y d37 11 Underground Electrical Lines Y N Outbuildings Y N Wastewater System Y N V Plumbing Y CEO a 1/ Windows Y CID If the answer to any of the above in #3 is Yes [Y], explain. Attach additional sheets as necessary. Describe any other Property Defects/Malfunctions: DS Initialed for Identification by SellerM , and Buyer 02011 Austin Board of REALTORS© Produced with zipFomh7Sby zipLogix 18070 Fifteen Moe Road, Fraser, MicNgan 48026 wWW.zlpLoaix.com Page 3 of 8 Miller, Kelly DocuSign Envelope ID: EAC25D71-C205-4C80-9DD4-996642720D77 Seller's Disclosure Notice Concerning Property At: 4. CURRENT CONDITIONS OF THE PROPERTY: Are you (SELLER) aware of any of the following? Mark Yes [Y] if you are aware, mark No [N] if you are not aware. 1710 Cushing Park Dr CO P Round Rock, TX 78664 Active Termites Y ID 14 Fault Lines Y Ti) Wood -Destroying Insects Y0, Previous Foundation Repairs 4 Landfill Y Y Termite or Wood Rot Needing Repair Y N S Subsurface Structure(s) Y d) Termite Damage Y tgi Pit(s) Y Termite Treatment Y Underground Spring(s) Y 3 Water Penetration of Structure Y ® n Intermittent/Weather Spring(s) Y Structural or Roof Repair Y rr0 Eil Underground Storage Tank(s) Y CED Asbestos Components Y �l Endangered Species/Habitat on Property Y al) Urea Formaldehyde Insulation Y ( ikHazardous or Toxic Waste Y Radon Gas Y 4N Diseased Trees Y d Lead -Based Paint Y Fence Lines Not Corresponding to Property Boundaries Y t Aluminum Wiring Y CID p Wetlands on Property Y CD Foundation Repair Y d n Unplatted Easement(s) Y IN Flooding of Land Y CED t Underground Electrical Line(s) Y Improper Drainage or Ponding Y M Dampness in Crawl Spaces Y 2 Located in 100 -Year Flood Plain Y c a Water Heater Leak(s) Y co Present Flood Insurance Coverage *Attach TAR Fonn 1414 if answer is Yes Yx HVAC System Leak(s) —Overflow Pan or Other Defect Y OT) Settling or Soil Movement Y Uft a Single Blockable Main Drain in Pool/Hot Tub/Spa* Y CO Other Conditions Y N If the answer to any of the above is Yes [Y], explain. At ach additional sheets A single blockable main drain may cause a suction entrapment hazard for an individual. 5. PREVIOUS CONDITIONS OF THE PROPERTY: Are you (SELLER) aware of the following previously defective conditions? Mark Yes [Y] if you are aware, mark No [NJ if you are not aware. Previous Flooding into the Structure Y OD Previous Flooding onto the Property Y (1i Previous Fires Y (N Previous Foundation Repairs Y (16j Previous Roof Repairs Y Previous Treatment for Termites or Wood -Destroying Insects Y Previous Termite or Wood -Destroying Insect Damage Repaired Y d) Previous Use of Premises for Manufacture of Methamphetamine Y O Other Conditions: If the answer to any of the above is Yes [Y], explain. Attach additional sheets as necessary. 6. SYSTEMS IN NEED OF REPAIR: Are you (SELLER) aware of any item, equipment, or system in or on the Property that is in need of repair, which has not been previously disclosed in this Notice? YES LI NO Mr - If Yes, explain. Attach additional sheets as necessary. Initialed for Identification bySell � and Buyer Page 4 of 8 © 2011 Austin Board of REALTORS® Produced with *Forma by zipLogix 16070 Fifteen /Me Road, Fraser, Michigan 48026 ww v.ziolooix.00nl Miller, Kelly DocuSign Envelope ID: EAC25D71-C205-4C80-9DD4-996642720D77 1710 Cushing Park Dr COPY Seller's Disclosure Notice Concerning Property At: Round Rook, TX 78664 7. MISCELLANEOUS CONDITIONS: Are you (SELLER) aware of any of the following? Mark Yes [Y] if you are aware, nark No [N] if you are not aware. [Y] (9 Room additions, structural modifications, or other alterations or repairs made without necessary permits or not in compliance with building code in effect at the time of construction? [Y] (j Any "common area" facilities, i.e., pools, tennis courts, walkways, or other areas, co -owned in undivided interest with others? [Y] e] Are there any optional charges or user fees for "common area" facilities? If yes, describe: [Y] [139] Any notices of violations of deed restrictions or governmental ordinances, zoning, use, or impervious cover limitations affecting the condition or use of the Property? [Y] el Any lawsuits or other legal proceedings directly affecting the Property or Seller's ability to convey property, e.g., bankruptcy, probate, guardianship, etc.? [Y]IE] Any condition of the Property which materially affects the physical health or safety of an individual? [Y] a Features of the Property shared in common with adjoining landowners, e.g., walls, fences, and driveways, whose use or responsibility for maintenance may have an effect on the Property? [Y] [8] Any encroachments of improvements on the subject Property onto another property or of improvements on another property onto the subject Property, easements, (recorded or unrecorded), or similar matters that may affect your interest in the Property? [Y] 4 Landfill — compacted or otherwise — on the Property or any portion thereof? [Y] di) Any settling from any cause or slippage, sliding or other soil problems? [Y] Damage to the Property or any of the structures from fire, earthquake, floods or landslides? [Y] 03), Any future highway, freeway, or air traffic patterns which affects the Property? [Y] (11 Any future annexation plans which affect the Property? [Y] eij Within the previous 12 months, has there been an equity loan on the Property? If Yes, date / / [Y] {9] Any pending flood plain changes known? [Y] gill Any ordinances that restrict flood coverage or rebuilding any portion of the structure to its previous use? [Y] (3j Previous FEMA claim paid? [Y] [B] Death on the Property other than death caused by: natural causes, suicide, or accident unrelated to the Property's condition? Q [N] Was the dwelling built before 1978? Unknown [ [Y] (s) Any repairs or treatment, other than routine maintenance, made to the Property to eliminate environmental hazards such as asbestos, radon, lead-based paint, urea formaldehyde, or mold? [Y]IQ ] Any historic preservation restriction or ordinance or archeological designation associated with the Property? [Y] J Any IRS or tax redemption periods which will affect the sale of the Property? [Y] 4 Any rainwater harvesting system connected to the property's public water supply? [Y] Any other item(s) of concern? If the answer to any of the above is Yes [Y], explain. Attach additional sheets as necessary. l�ou5e i,u.t4 tnf 1011-7 DS Initialed for Identification by Sell r gM and Buyer Page 5 of 8 0 2011 Austin Board of REALTORS® Produced with *Forme by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zinLoaix.com Miller, Kelly DocuSign Envelope ID: EAC25D71-C205-4C80-9DD4-996642720D77 1710 Cushing Park Dr CO P Seller's Disclosure Notice Concerning Property At: Round Rock, TX 78664 8. AD VALOREM TAXES: Check any Tax Exemption(s) which you (SELLER) currently claim for the Property: Li Homestead ❑ Over 65 ❑ Disabled J Disabled Veteran 01 Wildlife Management 0 Agricultural 0 Unknown X None J Other Have you or a third party on your behalf ever supplied information regarding property defects or condition at the Appraisal District? 0 Yes $ No Have you ever testified or had an agent testify on your behalf in a valuation hearing at an Appraisal District Value Protest Hearing? 0 Yes aalNo If so, which Appraisal District? Is property located in a Statutory Tax District? 0 Yes $. No 9. INSPECTIONS AND DISCLOSURES: Have you (SELLER) received any written inspection reports from persons who regularly provide inspections and who are either licensed as inspectors or engineers or otherwise permitted by law to perform inspections in the past four (4) years? ❑ Yes �. No Chapter 6-7 of the Austin City Code requires an energy audit be completed for certain properties before the time of sale. Has an energy audit been completed on the Property within the last 10 years? i7 Yes g No 0 N/A If Yes to either of these questions, list the information below and attach copies of the reports: Date of Inspection Name of Document Author of Report Number of Pages Is a previous SeIler's Disclosure available? 0 Yes X No If so, please attach. Is a current Survey available? 0 Yes X No If so, please attach. Date of Current Survey: If yes, attach survey with notarized T-47 Affidavit. 10. SMOKE DETECTORS: Does the property have working smoke detectors installed in accordance with the smoke detector requirements of Chapter 766 of the Health and Safety Code?* X Yes 0 No Cl Unknown If no or unknown, explain. (Attach additional sheets if necessary). *Chapter 766 of the Health and Safety Code requires one -family or two-family dwellings to have working smoke detectors installed in accordance with the requirements of the building code in effect in the area in which the dwelling is located, including performance, location, and power source requirements. If you do not know the building code requirements in effect in your area, you may check "unknown" above or contact your local building official for more information. A buyer may require a seller to install smoke detectors for the hearing-impaired if: (1) the buyer or a member of the buyer's family who will reside in the dwelling is hearing-impaired; (2) the buyer gives the seller written evidence of the hearing impairment from a licensed physician; and (3) within 10 days after the effective date, the buyer makes a written request for the seller to install smoke detectors for the hearing-impaired and specifies the locations for installation. The parties may agree who will bear the cost of installing the smoke detectors and which brand of smoke detectors to install. 11. MAJOR REPAIRS OR IMPROVEMENTS MADE: Have you (SELLER) made, or had made, major repairs or improvements (costing $500 the time you have owned the Property? X Yes ❑ No Are you (SELLER) aware of major repairs or improvements made by previous owners? J Yes ±X. No UUNE aL1 l�j If Yes to either, please explain. (Attach additional sheet(s) as necessary.) aotb- kttct, etv GrranrtTE Cow%)l.e.r'4op 9 2.0WNew ca -pet gg At.tG 2o13- to New wtNctow t%NtTS Oc't ao'%n►Ter'ta(t,Arva. ex Plitn►t ° OCT 2.0t3._ RE'Ft('(3tsh 11i11Ttt-NA OS MC, 2-ot13— rootr REtA .sPlyr(NI Rtpratt.5 > 7New —ANoy vfm_ve.S3 aerneNE 3E -t 5tit 5Te.yrs Initialed for Identification by Sell : r , and Buyer , Page 6 of 8 or more) to the Property during 25tie- New Root=- Sktn+91-e-5 gM 02011 Austin Board of REALTORS® Produced with zlpFormd) by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 xnwr.ztoLogix.com Miller, Kelly 3 DocuSign Envelope ID: EAC25D71-C205-4C80-9DD4-996642720D77 1710 Cushing Park Dr COPY Seller's Disclosure Notice Concerning Property At: Round Rock, TX 78664 12. INSURANCE CLAIMS: In the last 5 years have you (SELLER) filed an insurance claim related to this property? Cl Yes IINo If there was a monetary settlement, were the funds used to make the repair? ❑ Yes 0 No 13. GOVERNMENT OR OTHER PENDING OR RECEIVED NOTICES: SELLER has not received any notices, either oral or written, regarding the need for repair or replacement or any portion of the Property from any governmental agency, appraiser, inspector, mortgage lender, repair service or others, except: SELLER has not received any notices from any governmental agency or private company of pending condemnation on any portion of the Property, except: 14. ADDITIONAL DISCLOSURE FORMS ATTACHED: 0 Yes BINo ❑ Addendum for Seller's Disclosure of Information on Lead -Based Paint (TAR 1906) 0 Environmental Assessment, Threatened or Endangered Species, and Wetlands Addendum (TAR 1917) 0 Energy Audit O Information About On -Site Sewer Facility (TAR 1407) O §49.452 Notice to Purchase (TREC OP -C) 0 Yes 0 No ❑ Information About Special Flood Hazard Areas (TAR 1414) ❑ Relocation Addendum (TAR 1941) O Other THE ABOVE DISCLOSURES ARE TRUE AND CORRECT TO THE BEST KNOWLEDGE OF THE SELLER(S). SELLER acknowledges that the statements in this Disclosure are true to the best of the Seller's belief and that no person, including the Broker(s) and their Agent(s) has instructed or influenced Seller to provide inaccurate information or to omit any material information. r—��DoccuuSigned by: SiA 'Seltiesalc natatro Seller's Signature Kelly R Miller Printed Name Printed Name 11-22-13 Date Date Initialed for Identification by Buyer O 2011 Austin Board of REALTORS® Produced with zipForma by zrpl.ogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ztpl ootx.com Page 7 of 8 Miller, Kelly DocuSign Envelope ID: EAC25D71-C205-4C80-9DD4-996642720D77 1710 Cushing Park Dr opy C Seller's Disclosure Notice Concerning Property At: Round Rock, TX 78664 THE UNDERSIGNED BUYER HEREBY ACKNOWLEDGES RECEIPT OF A COPY OF THIS STATEMENT. NOTICES TO BUYER: LISTING BROKER, ACE Realty , AND OTHER BROKER, , ADVISE YOU THAT THE SELLER'S DISCLOSURE NOTICE WAS COMPLETED BY SELLER, AS OF THE DATE SIGNED. THE LISTING BROKER AND THE OTHER BROKER HAVE RELIED ON THIS NOTICE AS TRUE AND CORRECT AND HAVE NO REASON TO BELIEVE IT TO BE FALSE OR INACCURATE. THE TEXAS DEPARTMENT OF PUBLIC SAFETY MAINTAINS A DATABASE THAT CONSUMERS MAY SEARCH, AT NO COST, TO DETERMINE IF REGISTERED SEX OFFENDERS ARE LOCATED IN CERTAIN ZIP CODE AREAS. TO SEARCH THE DATABASE, VISIT WWW.TXDPS.STATE.TX.US. FOR INFORMATION CONCERNING PAST CRIMINAL ACTIVITY IN CERTAIN AREAS OR NEIGHBORHOODS, CONTACT THE LOCAL POLICE DEPARTMENT. IF THE PROPERTY IS LOCATED IN A COASTAL AREA THAT IS SEWARD OF THE GULF INTRACOASTAL WATERWAY OR WITHIN 1,000 FEET OF THE MEAN HIGH TIDE BORDERING THE GULF OF MEXICO, THE PROPERTY MAY BE SUBJECT TO THE OPEN BEACHES ACT OR THE DUNE PROTECTION ACT (CHAPTER 61 OR 63, NATURAL RESOURCES CODE, RESPECTIVELY) AND A BEACHFRONT CONSTRUCTION CERTIFICATE OR DUNE PROTECTION PERMIT MAY BE REQUIRED FOR REPAIRS OR IMPROVEMENTS. CONTACT THE LOCAL GOVERNMENT WITH ORDINANCE AUTHORITY OVER CONSTRUCTION ADJACENT TO PUBLIC BEACHES FOR MORE INFORMATION. YOU ARE STRONGLY ADVISED TO HAVE AN INSPECTOR OF YOUR CHOICE INSPECT THE PROPERTY PRIOR TO CLOSING. ALL INSPECTION REPORTS FURNISHED BY THE SELLER ARE PROVIDED FOR INFORMATION PURPOSES ONLY AND ARE NOT INTENDED TO BE A SUBSTITUTE FOR AN INSPECTION PERFORMED BY AN INSPECTOR OF BUYER'S CHOICE. BUYER ACKNOWLEDGES THAT THEY HAVE BEEN STRONGLY ADVISED TO HAVE THE PROPERTY INSPECTED BY THEIR OWN INDEPENDENT INSPECTOR(S). THE DISCLOSURE NOTICE CONTAINS NO ESTIMATE OF THE NUMBER OF SQUARE FEET OF SPACE WITHIN THE RESIDENCE AND BROKERS MAKE NO REPRESENTATIONS REGARDING SUCH AREA. IF SQUARE FOOTAGE IS IMPORTANT TO BUYER, BUYER SHOULD HAVE IT MEASURED BY A PROFESSIONAL. THE UNDERSIGNED BUYER ACKNOWLEDGES RECEIPT OF THE FOREGOING NOTICE. Buyer's Signature Buyer's Signature Date Date Page 8 of 8 © 2011 Austin Board of REALTORS® Produced with zipForm®by zipLogix 18070 Fifteen Mile Road Fraser, Michigan 48026 www.zloloa x.com Miller, Kelly