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Contract - Rock Real Estate LLC - 12/17/2020 DocuSign Envelope ID:DA527696-F881-4E3D-9Ef. )8F88E3EA89 II TEXAS REALTORS' COMMERCIAL CONTRACT - UNIMPROVED PROPERTY USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®,INC.IS NOT AUTHORIZED. ©Texas Association of REALTORS®,Inc.2018 1. PARTIES: Seller agrees to sell and convey to Buyer the Property described in Paragraph 2. Buyer agrees to buy the Property from Seller for the sales price stated in Paragraph 3. The parties to this contract are: Seller: City of Round Rock Address: 221 E Main Street, Round Rock, TX 78664 Phone: E-mail: Fax: Other: Buyer: Rock Real Estate LLC Address: Phone: (512)771-5085 E-mail: drrock@rockchiro.com Fax: Other: 2. PROPERTY: A. "Property" means that real property situated in Williamson County, Texas at Commerce Cove, Round Rock, TX 78664 (address) and that is legally described on the attached Exhibit A or as follows: B. Seller will sell and convey the Property together with: (1) all rights, privileges, and appurtenances pertaining to the Property, including Seller's right, title, and interest in any minerals, utilities, adjacent streets, alleys, strips, gores, and rights-of-way; (2) Seller's interest in all leases, rents, and security deposits for all or part of the Property; and (3) Seller's interest in all licenses and permits related to the Property. (Describe any exceptions, reservations, or restrictions in Paragraph 12 or an addendum.) (If mineral rights are to be reserved an appropriate addendum should be attached.) 3. SALES PRICE: A. At or before closing, Buyer will pay the following sales price for the Property: (1) Cash portion payable by Buyer at closing $ 120,000.00 (2) Sum of all financing described in Paragraph 4 $ 480,000.00 (3) Sales price (sum of 3A(1) and 3A(2)) $ 600,000.00 DS (TXR-1802)4-1-18 Initialed for Identification bySeller , and Buy PO - Page 1 of 14 Y 9 Don Quick,1000 North IH-35 Suite A Round Rock TX 78681 Phone:5 Fax: Commerce Cove- Brent Campbell Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www Iwolf.com DocuSign Envelope ID:DA527696-F881-4E3D-9E: )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 . B. Adjustment to Sales Price: (Check(1) or(2) only.) X (1) The sales price will not be adjusted based on a survey. (2) The sales price will be adjusted based on the latest survey obtained under Paragraph 6B. (a) The sales price is calculated on the basis of$ per: R (i) square foot of _total area_,net area. (ii) acre of[ total area net area. (b) "Total area" means all land area within the perimeter boundaries of the Property. "Net area" means total area less any area of the Property within: (i) public roadways; (ii) rights-of-way and easements other than those that directly provide utility services to the Property; and (iii) (c) If the sales price is adjusted by more than % of the stated sales price, either party may terminate this contract by providing written notice to the other party within days after the terminating party receives the survey. If neither party terminates this contract or if the variance is less than the stated percentage, the adjustment to the sales price will be made to the cash portion of the sales price payable by Buyer. 4. FINANCING: Buyer will finance the portion of the sales price under Paragraph 3A(2) as follows: X A. Third Party Financing: One or more third party loans in the total amount of$480,000.00 . This contract: (1) is not contingent upon Buyer obtaining third party financing. ,X' (2) is contingent upon Buyer obtaining third party financing in accordance with the attached Commercial Contract Financing Addendum (TXR-1931). __ B. Assumption: In accordance with the attached Commercial Contract Financing Addendum (TXR-1931), Buyer will assume the existing promissory note secured by the Property, which balance at closing will be $ . C. Seller Financing: The delivery of a promissory note and deed of trust to Seller under the terms of the attached Commercial Contract Financing Addendum (TXR-1931) in the amount of 5. EARNEST MONEY: A. Not later than 3 days after the effective date, Buyer must deposit $ $5,000.00 as earnest money with Independence Title (title company) at 203 W Main St, Suite A, Pflugerville, TX 78660 (address) Connie Wooster (closer). If Buyer fails to timely deposit the earnest money, Seller may terminate this contract or exercise any of Seller's other remedies under Paragraph 15 by providing written notice to Buyer before Buyer deposits the earnest money. B. Buyer will deposit an additional amount of$ with the title company to be made part of the earnest money on or before: (i) days after Buyer's right to terminate under Paragraph 7B expires; or _ (ii) _ . Buyer will be in default if Buyer fails to deposit the additional amount required by this Paragraph 5B within 3 days after Seller notifies Buyer that Buyer has not timely deposited the additional amount. C. Buyer may instruct the title company to deposit the earnest money in an interest-bearing account at a federally insured financial institution and to credit any interest to B °S (TXR-1802)4-1-18 Initialed for Identification bySeller , and Buy 12014- Page 2 of 14 Y Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Car www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9Ep )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 6. TITLE POLICY AND SURVEY: A. Title Policy: (1) Seller, at Seller's expense, will furnish Buyer an Owner's Policy of Title Insurance (the title policy) issued by any underwriter of the title company in the amount of the sales price, dated at or after closing, insuring Buyer against loss under the title policy, subject only to: (a) those title exceptions permitted by this contract or as may be approved by Buyer in writing; and (b) the standard printed exceptions contained in the promulgated form of title policy unless this contract provides otherwise. (2) The standard printed exception as to discrepancies, conflicts, or shortages in area and boundary lines, or any encroachments or protrusions, or any overlapping improvements: X (a) will not be amended or deleted from the title policy. _ (b) will be amended to read "shortages in areas" at the expense of Buyer Seller. (3) Within 15 days after the effective date, Seller will furnish Buyer a commitment for title insurance (the commitment) including legible copies of recorded documents evidencing title exceptions. Seller authorizes the title company to deliver the commitment and related documents to Buyer at Buyer's address. B. Survey: Within 15 days after the effective date: (- 1) Buyer will obtain a survey of the Property at Buyer's expense and deliver a copy of the survey to Seller. The survey must be made in accordance with the: (i) ALTA/NSPS Land Title Survey standards, or (ii) Texas Society of Professional Surveyors' standards for a Category 1 A survey under the appropriate condition. Seller will reimburse Buyer (insert amount) of the cost of the survey at closing, if closing occurs. - (2) Seller, at Seller's expense, will furnish Buyer a survey of the Property dated after the effective date. The survey must be made in accordance with the: (i) ALTA/NSPS Land Title Survey standards, or (ii) Texas Society of Professional Surveyors' standards for a Category 1A survey under the appropriate condition. X (3) Seller will deliver to Buyer and the title company a true and correct copy of Seller's most recent survey of the Property along with an affidavit required by the title company for approval of the existing survey. If the existing survey is not acceptable to the title company, X Seller r Buyer (updating party), will, at the updating party's expense, obtain a new or updated survey acceptable to the title company and deliver the acceptable survey to the other party and the title company within 20 days after the title company notifies the parties that the existing survey is not acceptable to the title company. The closing date will be extended daily up to 20 days if necessary for the updating party to deliver an acceptable survey within the time required. The other party will reimburse the updating party None (insert amount or percentage) of the cost of the new or updated survey at closing, if closing occurs. C. Buyer's Objections to the Commitment and Survey: (1) Within 5 days after Buyer receives the last of the commitment, copies of the documents evidencing the title exceptions, and any required survey, Buyer may object in writing to matters disclosed in the items if: (a) the matters disclosed are a restriction upon the Property or constitute a defect or encumbrance to title other than those permitted by this contract or liens that Seller will satisfy at closing or Buyer will assume at closing; or (b) the items show that any part of the Property lies in a special flood hazard area (an "A" or "V" zone as defined by FEMA). If the commitment or survey is revised or any new document evidencing a title exception is delivered, Buyer may object to any new matter revealed in such revision or new document. Buyer's objection must be made within the same number of days stated in this paragraph,c—°S ng when the revision or new _ _ , - (TXR-1802)4 1 18 Initialed for Identificationby Seller and Buy Page 3 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canaaa ivf i 1,13 www.lwolf.corn Commerce Cove- — DocuSign Envelope ID:DA527696-F881-4E3D-9Er )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 document is delivered to Buyer. If Paragraph 6B(1) applies, Buyer is deemed to receive the survey on the earlier of: (i) the date of Buyer's actual receipt of the survey; or (ii) of the deadline specified in Paragraph 6B. (2) Seller may, but is not obligated to, cure Buyer's timely objections within 15 days after Seller receives the objections. The closing date will be extended as necessary to provide such time to cure the objections. If Seller fails to cure the objections by the time required, Buyer may terminate this contract by providing written notice to Seller within 5 days after the time by which Seller must cure the objections. If Buyer terminates, the earnest money, less any independent consideration under Paragraph 7B(1), will be refunded to Buyer. (3) Buyer's failure to timely object or terminate under this Paragraph 6C is a waiver of Buyer's right to object except that Buyer will not waive the requirements in Schedule C of the commitment. 7. PROPERTY CONDITION: A. Present Condition: Buyer accepts the Property in its present condition except that Seller, at Seller's expense, will complete the following before closing: Buyer accepts property As-is, Where-is. B. Feasibility Period: Buyer may terminate this contract for any reason within 45 days after the effective date (feasibility period) by providing Seller written notice of termination. (1) Independent Consideration. (Check only one box and insert amounts.) X (a) If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer less $ 100.00 that Seller will retain as independent consideration for Buyer's unrestricted right to terminate. Buyer has tendered the independent consideration to Seller upon payment of the amount specified in Paragraph 5A to the title company. The independent consideration is to be credited to the sales price only upon closing of the sale. If no dollar amount is stated in this Paragraph 7B(1) or if Buyer fails to deposit the earnest money, Buyer will not have the right to terminate under this Paragraph 7B. (b) Not later than 3 days after the effective date, Buyer must pay Seller $ as independent consideration for Buyer's right to terminate by tendering such amount to Seller or Seller's agent. If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer and Seller will retain the independent consideration. The independent consideration will be credited to the sales price only upon closing of the sale. If no dollar amount is stated in this Paragraph 7B(2) or if Buyer fails to pay the independent consideration, Buyer will not have the right to terminate under this Paragraph 7B. (2) Feasibility Period Extension: Prior to the expiration of the initial feasibility period, Buyer may extend the feasibility period for a single period of an additional 30 days by depositing additional earnest money in the amount of$500.00 with the title company. If no dollar amount is stated in this Paragraph or if Buyer fails to timely deposit the additional earnest money, the extension of the feasibility period will not be effective. C. Inspections, Studies, or Assessments: (1) During the feasibility period, Buyer, at Buyer's expense, may complete or cause to be completed any and all inspections, studies, or assessments of the Property (including all improvements and fixtures) desired by Buyer. ( _DS (TXR-1802)4-1-18 Initialed for Identification bySeller and Buy P211t Page 4 of 14 Y 9 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N 1 T 1J5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E:' )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 (2) Buyer must: (a) employ only trained and qualified inspectors and assessors; (b) notify Seller, in advance, of when the inspectors or assessors will be on the Property; (c) abide by any reasonable entry rules or requirements of Seller; (d) not interfere with existing operations or occupants of the Property; and (e) restore the Property to its original condition if altered due to inspections, studies, or assessments that Buyer completes or causes to be completed. (3) Except for those matters that arise from the negligence of Seller or Seller's agents, Buyer is responsible for any claim, liability, encumbrance, cause of action, and expense resulting from Buyer's inspections, studies, or assessments, including any property damage or personal injury. Buyer will indemnify, hold harmless, and defend Seller and Seller's agents against any claim involving a matter for which Buyer is responsible under this paragraph. This paragraph survives termination of this contract. D. Property Information: (1) Delivery of Property Information: Within 15 days after the effective date, Seller will deliver to Buyer: (Check all that apply.) (a) copies of all current leases, including any mineral leases, pertaining to the Property, including any modifications, supplements, or amendments to the leases; - (b) copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing; X (c) copies of all previous environmental assessments, geotechnical reports, studies, or analyses made on or relating to the Property; - (d) copies property tax statements for the Property for the previous 2 calendar years; X (e) plats of the Property; U (f) copies of current utility capacity letters from the Property's water and sewer service provider; and X (g) In regard to 7.D.(1) checked items, Seller will deliver checked items that Seller has in Seller's possession. • (2) Return of Property Information: If this contract terminates for any reason, Buyer will, not later than _ 10 days after the termination date: (Check all that apply.) (a) return to Seller all those items described in Paragraph 7D(1) that Seller delivered to Buyer in other than an electronic format and all copies that Buyer made of those items; X (b) delete or destroy all electronic versions of those items described in Paragraph 7D(1) that Seller delivered to Buyer or Buyer copied in any format; and (c) deliver to Seller copies of all inspection and assessment reports related to the Property that Buyer completed or caused to be completed. This Paragraph 7D(2) survives termination of this contract. E. Contracts Affecting Operations: Until closing, Seller: (1) will operate the Property in the same manner as on the effective date under reasonably prudent business standards; and (2) will not transfer or dispose of any part of the Property, any interest or right in the Property, or any of the personal property or other items described in Paragraph 2B or sold under this contract. After the feasibility period ends, Seller may not enter into, amend, or terminate any other contract that affects the operations of the Property without Buyer's written approval. 8. LEASES: A. Each written lease Seller is to assign to Buyer under this contract must be in full force and effect according to its terms. Seller may not enter into any new lease, fail to comply with any existing lease, or make any amendment or modification to any existing lease wi+h pis+ R'ayer's written consent. Seller TXR-1802 4-1-18 Initialed for Identification bySeller and Bu PV' - Pa e 5 of 14 � ) Y9 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada Ni 1 www Iwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E/ )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 must disclose, in writing, if any of the following exist at the time Seller provides the leases to the Buyer or subsequently occur before closing: (1) any failure by Seller to comply with Seller's obligations under the leases; (2) any circumstances under any lease that entitle the tenant to terminate the lease or seek any offsets or damages; (3) any advance sums paid by a tenant under any lease; (4) any concessions, bonuses, free rents, rebates, brokerage commissions, or other matters that affect any lease; and (5) any amounts payable under the leases that have been assigned or encumbered, except as security for loan(s) assumed or taken subject to under this contract. B. Estoppel Certificates: Within days after the effective date, Seller will deliver to Buyer estoppel certificates signed not earlier than by each tenant that leases space in the Property. The estoppel certificates must include the certifications contained in the current version of TXR Form 1938 - Commercial Tenant Estoppel Certificate and any additional information requested by a third party lender providing financing under Paragraph 4 if the third party lender requests such additional information at least 10 days prior to the earliest date that Seller may deliver the signed estoppel certificates. 9. BROKERS: A. The brokers to this sale are: Principal Broker: Don Quick&Associates, Inc. Cooperating Broker: Agent: Brent Campbell/Ryan Beardmore Agent: Address: 1000 N Interstate 35 Address: Round Rock,TX 78681 Phone : (512)814-1814 (512)814-1825 Phone & Fax: E-mail: brent@donquick.com ; ryan@donquick.com _ E-mail: License No.: 347889 License No.: Principal Broker: (Check only one box) Cooperating Broker represents Buyer. represents Seller only. represents Buyer only. X is an intermediary between Seller and Buyer. B. Fees: (Check only(1) or(2) below.) (Complete the Agreement Between Brokers on page 14 only if(1) is selected.) (1) Seller will pay Principal Broker the fee specified by separate written commission agreement between Principal Broker and Seller. Principal Broker will pay Cooperating Broker the fee specified in the Agreement Between Brokers found below the parties' signatures to this contract. X (2) At the closing of this sale, Seller will pay: Principal Broker a total cash fee of: Cooperating Broker a total cash fee of: X 6.000 % of the sales price. % of the sales price. The cash fees will be paid in Williamson County, Texas. Seller authorizes the title company to pay the brokers from the Seller's proceed DS 1g. - - Initialedf r Identification Seller and Bu PV - Page 6 of 14 (TXR-1802)4 1 18 obyy g Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9Ef )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 NOTICE: Chapter 62, Texas Property Code, authorizes a broker to secure an earned commission with a lien against the Property. C. The parties may not amend this Paragraph 9 without the written consent of the brokers affected by the amendment. 10. CLOSING: A. The date of the closing of the sale (closing date) will be on or before the later of: (1) 30 days after the expiration of the feasibility period. (specific date). (2) 7 days after objections made under Paragraph 6C have been cured or waived. B. If either party fails to close by the closing date, the non-defaulting party may exercise the remedies in Paragraph 15. C. At closing, Seller will execute and deliver, at Seller's expense, a general X'special warranty deed. The deed must include a vendor's lien if any part of the sales price is financed. The deed must convey good and indefeasible title to the Property and show no exceptions other than those permitted under Paragraph 6 or other provisions of this contract. Seller must convey the Property: (1) with no liens, assessments, or other security interests against the Property which will not be satisfied out of the sales price, unless securing loans Buyer assumes; (2) without any assumed loans in default; and (3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or trespassers except tenants under the written leases assigned to Buyer under this contract. D. At closing, Seller, at Seller's expense, will also deliver to Buyer: (1) tax statements showing no delinquent taxes on the Property; (2) an assignment of all leases to or on the Property; (3) to the extent assignable, an assignment to Buyer of any licenses and permits related to the Property; (4) evidence that the person executing this contract is legally capable and authorized to bind Seller; (5) an affidavit acceptable to the title company stating that Seller is not a foreign person or, if Seller is a foreign person, a written authorization for the title company to: (i) withhold from Seller's proceeds an amount sufficient to comply with applicable tax law; and (ii) deliver the amount to the Internal Revenue Service (IRS) together with appropriate tax forms; and (6) any notices, statements, certificates, affidavits, releases, and other documents required by this contract, the commitment, or law necessary for the closing of the sale and issuance of the title policy, all of which must be completed by Seller as necessary. E. At closing, Buyer will: (1) pay the sales price in good funds acceptable to the title company; (2) deliver evidence that the person executing this contract is legally capable and authorized to bind Buyer; (3) sign and send to each tenant in a lease for any part of the Property a written statement that: (a) acknowledges Buyer has received and is responsible for the tenant's security deposit; and (b) specifies the exact dollar amount of the security deposit; (4) sign an assumption of all leases then in effect; and (5) execute and deliver any notices, statements, certificates, or other documents required by this contract or law necessary to close the sale. F. Unless the parties agree otherwise, the closing documents will be as found in the basic forms in the current edition of the State Bar of Texas Real Estate Forms Manus os any additional clauses. (TXR-1802)4-1-18 Initialed for Identification bySeller , and BuyPUN- Page 7 of 14 9 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1 T 1 J5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9EF )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 11. POSSESSION: Seller will deliver possession of the Property to Buyer upon closing and funding of this sale in its present condition with any repairs Seller is obligated to complete under this contract, ordinary wear and tear excepted. Any possession by Buyer before closing or by Seller after closing that is not authorized by a separate written lease agreement is a landlord-tenant at sufferance relationship between the parties. 12. SPECIAL PROVISIONS: The following special provisions apply and will control in the event of a conflict with other provisions of this contract. (If special provisions are contained in an Addendum, identify the Addendum here and reference the Addendum in Paragraph 22D.) 13. SALES EXPENSES: A. Seller's Expenses: Seller will pay for the following at or before closing: (1) releases of existing liens, other than those liens assumed by Buyer, including prepayment penalties and recording fees; (2) release of Seller's loan liability, if applicable; (3) tax statements or certificates; (4) preparation of the deed; (5) one-half of any escrow fee; (6) costs to record any documents to cure title objections that Seller must cure; and (7) other expenses that Seller will pay under other provisions of this contract. B. Buyer's Expenses: Buyer will pay for the following at or before closing: (1) all loan expenses and fees; (2) preparation of any deed of trust; (3) recording fees for the deed and any deed of trust; (4) premiums for flood insurance as may be required by Buyer's lender; (5) one-half of any escrow fee; (6) other expenses that Buyer will pay under other provisions of this contract. 14. PRORATIONS: A. Prorations: (1) Interest on any assumed loan, taxes, rents, and any expense reimbursements from tenants will be prorated through the closing date. (2) If the amount of ad valorem taxes for the year in which the sale closes is not available on the closing date, taxes will be prorated on the basis of taxes assessed in the previous year. If the taxes for the year in which the sale closes vary from the amount prorated at closing, the parties will adjust the prorations when the tax statements for the year in which the sale closes become available. This Paragraph 14A(2) survives closing. (3) If Buyer assumes a loan or is taking the Property subject to an existing lien, Seller will transfer all reserve deposits held by the lender for the payment of taxes, insurance premiums, and other charges to Buyer at closing and Buyer will reimburse such amounts to Seller by an appropriate adjustment at closing. B. Rollback Taxes: If Seller's use or change in use of the Property before closing results in the assessment of additional taxes, penalties, or interest (assessments) for periods before closing, the assessments will be the obligation of the Seller. If this sale or Buyer's use of the Property after closing results in additional assessments for periods before closing, the assessments will be the obligation of Buyer. This Paragraph 14B survives closing. ADS (TXR-1802)4-1-18 Initialed for Identification bySeller , and Buye PV114- Page 8 of 14 Y 9 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario Canada N1T 1J5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 C. Rent and Security Deposits: At closing, Seller will tender to Buyer all security deposits and the following advance payments received by Seller for periods after closing: prepaid expenses, advance rental payments, and other advance payments paid by tenants. Rents prorated to one party but received by the other party will be remitted by the recipient to the party to whom it was prorated within 5 days after the rent is received. This Paragraph 14C survives closing. 15. DEFAULT: A. If Buyer fails to comply with this contract, Buyer is in default and Seller, as Seller's sole remedy(ies), may terminate this contract and receive the earnest money, as liquidated damages for Buyer's failure except for any damages resulting from Buyer's inspections, studies or assessments in accordance with Paragraph 7C(3) which Seller may pursue; or (Check if applicable) enforce specific performance, or seek such other relief as may be provided by law. B. If, without fault, Seller is unable within the time allowed to deliver the estoppel certificates, survey or the commitment, Buyer may: (1) terminate this contract and receive the earnest money, less any independent consideration under Paragraph 76(1), as liquidated damages and as Buyer's sole remedy; or (2) extend the time for performance up to 15 days and the closing will be extended as necessary. C. Except as provided in Paragraph 15B, if Seller fails to comply with this contract, Seller is in default and Buyer may: (1) terminate this contract and receive the earnest money, less any independent consideration under Paragraph 76(1), as liquidated damages and as Buyer's sole remedy; or (2) enforce specific performance, or seek such other relief as may be provided by law, or both. 16. CONDEMNATION: If before closing, condemnation proceedings are commenced against any part of the Property, Buyer may: A. terminate this contract by providing written notice to Seller within 15 days after Buyer is advised of the condemnation proceedings and the earnest money, less any independent consideration paid under Paragraph 76(1), will be refunded to Buyer; or B. appear and defend in the condemnation proceedings and any award will, at Buyer's election, belong to: (1) Seller and the sales price will be reduced by the same amount; or (2) Buyer and the sales price will not be reduced. 17.ATTORNEY'S FEES: If Buyer, Seller, any broker, or the title company is a prevailing party in any legal proceeding brought under or with relation to this contract or this transaction, such party is entitled to recover from the non-prevailing parties all costs of such proceeding and reasonable attorney's fees. This Paragraph 17 survives termination of this contract. 18. ESCROW: A. At closing, the earnest money will be applied first to any cash down payment, then to Buyer's closing costs, and any excess will be refunded to Buyer. If no closing occurs, the title company may require payment of unpaid expenses incurred on behalf of the parties and a written release of liability of the title company from all parties. B. If one party makes written demand for the earnest money, the title company will give notice of the demand by providing to the other party a copy of the demand. If the title company does not receive written objection to the demand from the other party within 15 days after the date the title company sent the demand to the other party, the title company 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 the title company may pay the same to th °S 's. (TXR-1802)4-1-18 Initialed for Identification bySeller and BuyPV(t- Pa e 9 of 14 9 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr,Cambridge,Ontario,Ca--— ., www Iwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E, )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 C. The title company will deduct any independent consideration under Paragraph 7B(1) before disbursing any earnest money to Buyer and will pay the independent consideration to Seller. D. If the title company complies with this Paragraph 18, each party hereby releases the title company from all claims related to the disbursal of the earnest money. E. Notices under this Paragraph 18 must be sent by certified mail, return receipt requested. Notices to the title company are effective upon receipt by the title company. F. Any party who wrongfully fails or refuses to sign a release acceptable to the title company within 7 days after receipt of the request will be liable to the other party for: (i) damages; (ii) the earnest money; (iii) reasonable attorney's fees; and (iv) all costs of suit. G. Seller Buyer intend(s) to complete this transaction as a part of an exchange of like-kind properties in accordance with Section 1031 of the Internal Revenue Code, as amended. All expenses in connection with the contemplated exchange will be paid by the exchanging party. The other party will not incur any expense or liability with respect to the exchange. The parties agree to cooperate fully and in good faith to arrange and consummate the exchange so as to comply to the maximum extent feasible with the provisions of Section 1031 of the Internal Revenue Code. The other provisions of this contract will not be affected in the event the contemplated exchange fails to occur. 19. MATERIAL FACTS: To the best of Seller's knowledge and belief: (Check only one box.) L A. Seller is not aware of any material defects to the Property except as stated in the attached Commercial Property Condition Statement (TXR-1408). X B. Except as otherwise provided in this contract, Seller is not aware of: (1) any subsurface: structures, pits, waste, springs, or improvements; (2) any pending or threatened litigation, condemnation, or assessment affecting the Property; (3) any environmental hazards or conditions that materially affect the Property; (4) whether the Property is or has been used for the storage or disposal of hazardous materials or toxic waste, a dump site or landfill, or any underground tanks or containers; (5) whether radon, asbestos containing materials, urea-formaldehyde foam insulation, lead-based paint, toxic mold (to the extent that it adversely affects the health of ordinary occupants), or other pollutants or contaminants of any nature now exist or ever existed on the Property; (6) any wetlands, as defined by federal or state law or regulation, on the Property; (7) any threatened or endangered species or their habitat on the Property; (8) any present or past infestation of wood-destroying insects in the Property's improvements; (9) any contemplated material changes to the Property or surrounding area that would materially and detrimentally affect the ordinary use of the Property; (10)any condition on the Property that violates any law or ordinance. (Describe any exceptions to (1)-(1O) in Paragraph 12 or an addendum.) 20. NOTICES: All notices between the parties under this contract must be in writing and are effective when hand-delivered, mailed by certified mail return receipt requested, or sent by facsimile transmission to the parties addresses or facsimile numbers stated in Paragraph 1. The parties will send copies of any notices to the broker representing the party to whom the notices are sent. X A. Seller also consents to receive any notices by e-mail at Seller's e-mail address stated in Paragraph 1. IX B. Buyer also consents to receive any notices by e-mail at Buyer's e-mail address stated in Paragraph 1. 21. DISPUTE RESOLUTION: The parties agree to negotiate in good faith in an effort to resolve any dispute related to this contract that may arise. If the dispute cannot be resolved by negotiation, the parties will submit the dispute to mediation before resorting to arbitration or litigation and will equally share the costs of a mutually acceptable mediator. This paragraph survives termination of this contract. This paragraph does not preclude a party from seeking equitable relief from a court of Ds ;nt jurisdiction. IdentificationSellerandB PV" Pae10of14 (TXR-1802)4-1-18 Initialed for by Buy g Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Car,dud www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9Ec )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 22.AGREEMENT OF THE PARTIES: A. This contract is binding on the parties, their heirs, executors, representatives, successors, and permitted assigns. This contract is to be construed in accordance with the laws of the State of Texas. If any term or condition of this contract shall be held to be invalid or unenforceable, the remainder of this contract shall not be affected thereby. B. This contract contains the entire agreement of the parties and may not be changed except in writing. C. If this contract is executed in a number of identical counterparts, each counterpart is an original and all counterparts, collectively, constitute one agreement. D. Addenda which are part of this contract are: (Check all that apply.) (1) Property Description Exhibit identified in Paragraph 2; X (2) Commercial Contract Financing Addendum (TXR-1931); El (3) Commercial Property Condition Statement (TXR-1408); (4) Commercial Contract Addendum for Special Provisions (TXR-1940); X (5) Notice to Purchaser of Real Property in a Water District(MUD); (6) Addendum for Coastal Area Property (TXR-1 915); (7) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway (TXR-1916); X (8) Information About Brokerage Services (TXR-2501); j (9) Information About Mineral Clauses in Contract Forms (TXR-2509); and X (1O)TXR-1409 ; Exhibit A (Note: Counsel for Texas REAL TORS® has determined that any of the foregoing addenda which are promulgated by the Texas Real Estate Commission(TREC)or published by Texas REALTORS®are appropriate for use with this form.) E. Buyer X may may not assign this contract. If Buyer assigns this contract, Buyer will be relieved of any future liability under this contract only if the assignee assumes, in writing, all obligations and liability of Buyer under this contract. 23.TIME: Time is of the essence in this contract. The parties require strict compliance with the times for performance. If the last day to perform under a provision of this contract falls on a Saturday, Sunday, or legal holiday, the time for performance is extended until the end of the next day which is not a Saturday, Sunday, or legal holiday. 24. EFFECTIVE DATE: The effective date of this contract for the purpose of performance of all obligations is the date the title company receipts this contract after all parties execute this contract. 25.ADDITIONAL NOTICES: A. Buyer should have an abstract covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished with or obtain a title policy. B. 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 fees of the district before final execution of this contract. C. Notice Required by §13.257, Water Code: "The real property, described below, that you are about to purchase may be located in a certificated water or sewer service area, which is authorized by law to provide water or sewer service to the properties in the certificated area. If your property is located in a certificated area there may be special costs or charges that you will be required to pay before you can receive water or sewer service. There may be a period required to construct lines or other facilities necessary to provide water or sewer service to your property. You are advised to determine if the property is in a certificated area and contact the utility service prr 1 Dr tr, determine the cost that you (TXR-1802)4-1-18 Initialed for Identification bySeller and Bu PVC- Page 11 of 14 Y 9 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Car,--.. ,, www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E: )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 will be required to pay and the period, if any, that is required to provide water or sewer service to your property. The undersigned purchaser 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 the notice or at closing of purchase of the real property." The real property is described in Paragraph 2 of this contract. D. If the Property adjoins or shares a common boundary with the tidally influenced submerged lands of the state, §33.135 of the Texas Natural Resources Code requires a notice regarding coastal area property to be included as part of this contract (the Addendum for Coastal Area Property (TXR-1915) may be used). E. If the Property is located seaward of the Gulf Intracoastal Waterway, §61.025, Texas Natural Resources Code, requires a notice regarding the seaward location of the Property to be included as part of this contract (the Addendum for Property Located Seaward of the Gulf Intracoastal Waterway (TXR-1916) may be used). F. If the Property is located outside the limits of a municipality, the Property may now or later be included in the extra-territorial jurisdiction (ETJ) 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 ETJ. To determine if the Property is located within a municipality's ETJ, Buyer should contact all municipalities located in the general proximity of the Property for further information. G. Brokers are not qualified to perform property inspections, surveys, engineering studies, environmental assessments, or inspections to determine compliance with zoning, governmental regulations, or laws. Buyer should seek experts to perform such services. Buyer should review local building codes, ordinances and other applicable laws to determine their effect on the Property. Selection of experts, inspectors, and repairmen is the responsibility of Buyer and not the brokers. Brokers are not qualified to determine the credit worthiness of the parties. H. NOTICE OF WATER LEVEL FLUCTUATIONS: If the Property adjoins an impoundment of water, including a reservoir or lake, constructed and maintained under Chapter 11, Water Code, that has a storage capacity of at least 5,000 acre-feet at the impoundment's normal operating level, Seller hereby notifies Buyer: "The water level of the impoundment of water adjoining the Property fluctuates for various reasons, including as a result of: (1) an entity lawfully exercising its right to use the water stored in the impoundment; or(2) drought or flood conditions." I. LICENSE HOLDER DISCLOSURE: Texas law requires a real estate license holder who is a party to a transaction or acting on behalf of a spouse, parent, child, business entity in which the license holder owns more than 10%, or a trust for which the license holder acts as a trustee or of which the license holder or the license holder's spouse, parent or child is a beneficiary, to notify the other party in writing before entering into a contract of sale. Disclose if applicable: _ . 26. CONTRACT AS OFFER: The execution of this contract by the first party constitutes an offer to buy or sell the Property. Unless the other party accepts the offer by 5:00 p.m., in the time zone in which the Property is located, on December 4, 2020 , the offer will lapse and become null and void. f DS (TXR-1802)4-1-18 Initialed for Identification bySeller and Bu f Oft- Page 12 of 14 Y 9 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada NIT 1 J5 www Iwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E: )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 READ THIS CONTRACT CAREFULLY. The brokers and agents make no representation or recommendation as to the legal sufficiency, legal effect, or tax consequences of this document or transaction. CONSULT your attorney BEFORE signing. Seller: City of Round Rock Buyer:Rock Real Estate LLC By: t 111\ By: Paul David McCar#ne),.# --DocuSigned by: Bysi nature : B si nature : P NAV, ((signature): Y((signature) 114.61441Azti Printed Name: MA16' Printed Name: Paul Da..;D8..oct8�A494F3... Title: '��j 2—�'?�202‘) Title: 12/1/2020 By: By: By(signature): By(signature): Printed Name: Printed Name: Title: Title: (TXR-1802)4-1-18 Page 13 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E: )8F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 AGREEMENT BETWEEN BROKERS (use only if Paragraph 9B(1)is effective) Principal Broker agrees to pay (Cooperating Broker) a fee when the Principal Broker's fee is received. The fee to be paid to Cooperating Broker will be: E $ , or % of the sales price, or of the Principal Broker's fee. The title company is authorized and directed to pay Cooperating Broker from Principal Broker's fee at closing. This Agreement Between Brokers supersedes any prior offers and agreements for compensation between brokers. Principal Broker: Cooperating Broker: By: By: ATTORNEYS Seller's attorney: Stephan L.Sheets Buyer's attorney: Address: 309 E Main Street Address: Round Rock TX 78664 Phone&Fax: (512)255-8877 Phone&Fax: E-mail: steve@scrrlaw.com E-mail: Seller's attorney requests copies of documents, Buyer's attorney requests copies of documents, notices, and other information: notices, and other information: X the title company sends to Seller. the title company sends to Buyer. X Buyer sends to Seller. Seller sends to Buyer. ESCROW RECEIPT The title company acknowledges receipt of: A. the contract on this day (effective date); B. earnest money in the amount of$ in the form of on Title company: Address: By: Phone&Fax: Assigned file number(GF#): E-mail: (TXR-1802)4-1-18 Page 14 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr Cambridge,Ontario,Canada N1T 1J5 www Iwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-0E30-9E. ]8F88E3EA89 E Uf, 2020060923 PLAT Total Pages' 2 1111 El PIM WARM K III EXHIBIT A ;-. 7 A>.SO�Ce3 PLAT MAP RECORDING SHEET DEDICATOR(s): CITY OF ROUND ROCK SUBDIVISION NAME: AMENDED LOT 7 BLOCK 7 ROUND ROCK NORTH INDUSTRIAL BUSINESS PARK SECTION 5 & LOT 1 BLOCK A COMMERCE COVE PROPERTY IS DESCRIBED AS: 2.892 ACRES DAVID CURRY SURVEY ABSTRACT NO 130 SUBMITTED BY: CITY OF ROUND ROCK DIGITALLY RECORDED FILED B�IC AND RE RECORDED OFFICIAL2020060923 PLAT Fee: $91.00 06/10/2020 11:22 AM BMCKENZIE Nancy E. Ra ter, County Clerk Williamson County, Texas Ds P�ht FIELD NOTES AMENDED PLAT OF LOT 7, BLOCK 7, ROUND ROCK D10 0,Qq x3 TOM Nob.for '2393 Arms 1 .f Lond NORTH INDUSTRIAL BUSINESS PARK SECTION 5 & LOTRai O - ---i�M Toms•Led sore to teed d loud twirhq d'"Lot 7,B ''ROUND ROCK Not od IN ei Roo&and o�""`1°"V'"". ND C•�+Er. 1 BLOCK A, COMMERCE COVE ADDITION Tomsk+�eoo.a�+a�.w.c NNW maw N Cabinet O.srae xM,sww.�C•�Nei a.00la.one a a La 1.wear A.coI11�rF.�tS a folio. ANKTION,dock son County,Tows,oao.dn oo 4 le I.taw.rwrted In Odd.V SON 144.Down.Ns 200100300.won s. akq►PlatPlatRweards,said 2.892 a 2 se fleet b.Mnq more perliado w dosbid by n�wlos ar.dsrehd. folfolio.s LEGEND:Om*Ss ato st w Tr'abet rod found -Ms raw..t -d-.4r I.of Cana at.wor for Me m.o.comer ofhe d,t Ole r.isearbed . ....... BOl1NOA�ftT LIE S trod e seat..career of oboes refr•rwed Lot 7.Mask 7,ROLIID ROOT NORM INENSINAL SlltNI=MAK SECTION It NTEFOOR 90UNO NE n ARY U . t lens,dsporevp the northwest rlalnt-of-.w7 Now at dsd..wN1r to swats.inn.ofLot 7.!lock 7.ROUND ROO(NORTH - - ADJACENT 00UNDARY UNE I,' >r �'' ~ s dosi rod found for ent nwrfhead cent.1 is.so.Mo..!cock tha111111110 INDUSTRIAL SUSINIESS PARK SECTION V.North 21 dep.t 1nertlrwet minor d Let 7.Mods Miriam..ROU N ef 1 SROCIK NORTH 132 MA to a xlDllliMK TILL -- EASEIIEM LJIE •1 PMK SECTION r. PI Shwas.Nis tNw northwest Me of Lot 7,Mock 7.ROUND ROCK NORTH OCUSINAL RUS*1S WK SECTION V.Ilona NI Nome 44 - - - BUILDING SETBACK INNS '' Moo.43 seconds East a dloEahse of 120.10 led to a Is•we.el rod!crud at tin norlhssot sonar•l tat 7.!loon 7.ROUE NOCK P.,U.E. PURJC UTNAY EASEMENT LOT 1 C MORTN RANSRULY.OMENS PARK SECTION V.tlhs rank.owner el Oho aber.referenwM Let 1.Sleek A OOL�RCE COW AMNION tit • INc PUNCH MOLE 6d CONCRETE BLOCK E SCALE:1�= r ` -., ,,, lhorwe.NM the norUr.eM tics of Lot 1.dew A COI FACE COVE ADO1110N.MHO NI dorms 60 nnbuAss 26 e.oer+de East.a dldanos 't •f 30M.d4 NM tee x'M.rod fa.M to oar..earns►of tits heroin doearlbed tree.Me normseet esnr M Lot/.Hoak A. • NDLAT OF CRYSTAL PAN6t tl----'' �+ .i FIR 1/4 FOUND 1/4 STEEL ROD t: t VONA Et COTE ADOMON; PL T CABINET M$.0 es-R7 O tN0 120 .r"`v •_•o, • FIR 1/2 FOUND 1/2'STEEL ROO 5. PURR RECORDS Three„eta Vie northeast tine of Lot I.UI A.CON4[IICE COME•AODITKM.So.23 deer...09 Nava.2$Nova Eset.dld.ree LOT IA �' ",, sow...4OJ carer.too Una and don stomped VANN 1 B1•ei< AI AMC found for Me southeast own.d the Mr.br described Mock b e • S 5207 �1/2'STEEL ROD MTH AN BLOCK E , .:-.: y y . aIW16E•RPLS far PUSTIC CAP �� t'�. ,,. ...„ . Thence.NM Ms eouttneaet Isle of tot 1.Bock A.CONDOM COW MORON.So.N dear.43 t, ..17 monde TMnI.•diatoms EXCEPT MERE NOTED OTHERWISE REPIAT OF CRYSTAL PARR I. �E• • ip. ,.r .�et* -^• d none,Net to•Neel red laved with a rod Van AICaELEN t ASSOC INC,CEDAR PM(TENS'fkMfa dap fee ante.and ORIN 40 FOUND STEEL ROD w11N A RED PRIM 0A15IIET V MI \ . / .M'i A.OOIRI47 minsibse COVE 12 wands ApOflglt; Wort,a dls NN of 63.71 fed te a punch hoe loud In co..N.southwest ear.ef Let 1,deck • F6iA CIGAR PARK TEXAS'ASSOC. PtAST C CM PLAT RECORDS \\ tl�M+Mi 111 e\ A ; :, Thera*,. •aoulhw N M•f tat 1.dean A COMMERCE COVE ADDITION.Ne1h 21 dorms 19 nano.20 s.owdo TMnI.•debras of �L am'lp ! BENCHMARK �� i �/] V y•.a, 12B.e Hest to•8'NW red found In the ono vwset and d•onI-deg-soa for Canna I Md for saw..meld point baM,q in the are d a LOT 2 \ ` .� i 4L 1 cum to tin Mt Blase NNW air*is 171 degrees 17 RM.,24 seconds.Noes'Who I.60.0O feet end.Noss dart baron Nor*110 BLOCK E \ i ! +� •\ •NO- K TM Norms 53 saw.28 roam a Tito.!.a disionoe of$S.71 foot: \ , cif ...f,� .T ....._ : Tone..NM Beta a,l-de-see Ira of Cormento II d.a se,Atwoot N.d Lot I,Mack A.CC CE COME AMNION are Me east_ of REiw 0 CO NSTR.PARK \\ f �. �' •'� \ 1. -as-"� t 7.MN 7.POUND ROCK NOIRN NOUSIRAL PfARC SECTION V.along Me apt:of sold arrvn to the left•Mottoes d 140.4s PLAT CARNET 0 SAE 305,306 \ .i .,1 OA t • cot b•eked rod louts wRA•nd 12RDt MCKIEN t ASSOC.NC.COIN PMK TEX*S Moak:cep d 0e beoimb+g d.aces to Ow PLAT !,0-0.to t0 06 °' "' Asirt who..osnIrd angle w 44 dooms 23'*Me 26 seconds.does rodius b 20.00 feet end eh.M ord boors.Se.M 46 dew..50 * / '' � n-4 y''a \ LOCATION MAP Nimbi.52 monde nook a dNornee of 1LLi1 hot d/p,"" 4 ! 00 a 0114IERSt CRT'of ROUND Rock Roma.aft the no...rtetd-of-sapr rn.d Cesnwoo Ithd. a ersano•M lined Lot 7.Moo 7.ROUND ROCK NORM IIDL TTiAL • - } 00 INSINESS PARE SECi1ON V.done tin arc d meld curve to Its right,•dtsbn.s d 15.50 het m.mends hose Mond N c.nerob d Ito Nor./ .' b 1 ONCOR a(CTRIC ACREAGE:2-892 ACRES point a1 � r�/ 1�� \\ � f it DOCUMENT NO.20(200008/ SHVt1'DR ODNALD D.BOOMS T..�MrMNwine MID 1M naUAwest ro/k•.f-way Iinr of Canrn.ro.BArd.,•senMeast one of Lot 7,S.7,ROUND NOVI NORM I • I \ !!►► .r \ DOCUMENT NO.2004046N.61 MDUBNN&L BUi6ME3s PARK SECTION V.Saint N deer.29 Nkomo 51 e.o•ne.Mot,a Maw*d 32.19 fast Io Ms Pk=d ElogMsdng / / \\ 4 11t11, . lb, OFf1CaAL RECORDS NUMBER OF BLOC1CSt 1 clad oaNairlbq 2.M2 oorse d land. ! `\ �;, • . . !, 1 '...... F t�dt \\ A MJ11BElt OF LOTS 2 DEVELOPMENT COUNTY OF.., mmsoN f '�� r \\-- , L......\t‘,t,‘ Tis r j b`` , l/EA1t FEET or NEW STREETS Cr STATE 0'11:011.THAT CRY OF ROUND ROCK AS THE O6RfER OF THAT CERWN 2862 ACRE TRACT OF LAND RECORDED iN --. Ait.•/� ` '" BLOCK LOT 2A s ` SIKMITTAL DATE CUi-20-20 DOOUMdOiT N0.2003002ad0 Of THtE OFFICIAL PUBLIC It>tCc4Na0s CM I11tiNtMlON OOUM1tY.TEXAS DO NE11F7Y \\ 2.047 ACRES AGir.E M.LOT TYPE:2_862 ACRES-DEVELOPMENT ALLEYS.ECERTIFY ASEMENTS S M DERE ID ALL FO LIEN HOLDERS AND R PUBLIC DE 70 THE DICATION T1O S N TO/BREYER LEE OF THE STREETS. \ LOT 6 k `\ , LOT 1 • t PATENT SURVEY:D1kto CURRY,ABSTRACT Nor 130 KNOWN AS THE MENDED PLAT OF LOT 7.BLOCK 7.ROUND ROCK NORTH I DUSTRML SUNKEN PARK \ og % \ BLOCK A SECTION 1!LOT 1.BLOCtk A cot VE ACE CO AOdtTON. \\ BLOCK 7 �, � �ts• L\ 1 0.845 ACRES \ ENGINEEN JUSTIN G ktA ONG \ i Ci1Y OF . ,ROCK \ I AML 91ISRoute K NORTH t PARK N6 1"' \ \ tAi M MGER OF LOTS BY NIAE:O(WLOPIdCi1.2 1\ SECTION V - « \ $'�7 \ iaENCmiArac OESCRPTION R ELE\MTI ON 1t.Minim Olt?Litt MID GEM td- .*77 �r- \PLA PLAT RECORDS T CADET 296 . cloy NINE MCC. &66 up S 2P20'21•E \ TIOCHI NIt SET T/2'STEEL ROO RTIN AN 5 • do \\ MIC FDA 51.15.. t 3eoE OWE FOUND NM.AND DISC` ELEVA11011i�7S7 111PL3 S2f17'PLASTIC CAP \ N 8 520 STAMPED'EMER i. N+1011t71:6,454 '1 1/2 AICKLOi ASSOC.' ��i E.31JDIlq.314 THE STATE OFTEUS0 / / • NAM N411066 0E010129 COUNTY OF SUMMON f \\ 68A�'�• �� .6 net 1/4 '� ! S'��'"...�.� t)THIN INSTRUMENT WAS BEFORE ME ON : Imo'r i!wr+••• \ 'I \-8i�� G VT. �s ni fn►E. n� ! J E j�Ner j -A a) SOUTNeasr OF low a! .2020 A.D.BY FIR 1 0� _ � t CUMIN' CO 1n'A �� OF COY Of ROUND WOOL ON WWI OF SAID CRY OF ROUND ROCK - CO GO4. S 8S2D 51 w LIJ ViN`q9� L ! THIS ? DAY or PLANNING 00 NO'TMY PUBLIC.STATE Of TEMIl6 •' Jar {tett of, S• ��'�''POINT OF 32.18' ` , ;`jT# `! SERVICES DEPARTMENT OF THE CiTY OF HOUND ROCK,TO(AL•i,MD NfiIONZED TO F FOR 00 w r_.. p to y,1 .. RECORD En THE cousin'cum OF MUJAMSON COUNTY.TDCAS.THE PROPERTY COVERED WY THIS LL. *ARA G AMBROSE sc GINNING \ ! PLAT tS WITHIN THE CiTY UNITS OF THE CITY OF ROUND ROCNC. 00PilM1m Ng;,T ri.C_ I�>`1.rases ."'�. r+a.,rP�kbhc.sql.of tak.r _3 /�j. w ~. FOUND STEEL ROO MATH A f'� ..sie.i.:.., W COL/fR"xsION OAS •7-Z Z-21 13 i'•.. a e�++nn k1Ac S ate chi?No Z' Hr.a*r ID 130103/126 \ LOT 1 - ` RED N*ER-MCKLEN& ` � "'��"`" •.••+�r'• ASSOC.INC,CEDAR PORK W cow eST Eor tows I f \\ VI.% 1 SOCK 4 L ; TOGAS'PL.SIIC CAP cm OF ROUND Road is AND DEVELOPMENT s MINCES DEPARTMENT a) ry° \ \ ROUND ROCK NORM 1NOUSTINML \ 1 S EP47'12•w TEXAS AVENUE JOINT VEalNTU r THAT I..A41110 NADNNOI.00 MOM CERTIFY THAT THE INFORMATION C10NTAIED ON TINS PLAT OOMPU[5 \ \ BUSINESS PARK$CC710N N t 53.71' THE STAaE OF TEXAS f Q 1MITN CHAPTER 4-sUBOI ON DELI AND CONSTRUCTION.,PART M-ZONlN0 M D DEVELOPM�ii CODE. \ \ FIAT CABINET O SIDE 132-133 . VOLLNNE tOFFIII,y�Al MOMS PlI10E75 6/B-too COUNTY OF wILLtAM90N W000E OF OIIEIIPMAKES.CRY of ROUND ROCK.2018 EDm0N AS Ai1F3i01Ei3.AND THE DEMON AND \ PLAT RECORDS , L7M ACC OONSTITUCTION STANDARDS ADOPTED BY THE CITY OF ROUND ROCK TEXAS. \ "1 \\ THAT I.NANCI'ROSIER.CtFJd(OF THE COUNTY COURT OF SAID COUNTY,DO HEROIN CERTIFY \ N \\ THAT TH€FOREGOING INSTRUMENT ii W T 4G 'TIN iTS CERTIFICATION OF AUTHENTICATION.MUTAS I t- r/ j. (n \ CURVE DATA RED FOR RECORD IN MY OFFICE ON THE(Y OF � t A.D..2020.AT 11111 Co ,,zde i \ CURE ROWS DELTA ARC REARM C1101tD LCo 'iv-y ` l 1_ OI ACK AND DULY RECORDED ON T E. bl. �/1I \ \ Ct 30.00 3433'16 J0.1'S N Ot'3123 1M 21.70 _DAY OF �u�. AA. 20Z0.AT I C Ml OK P1r •. /. y ,ti 1\ C2 50.00 13 4,4'0r 119.32 N IST/0'07`W Y2.96 !�5 .IN THE PUTT RECORDS OF COUNTY IN mj�0� . �� SAID DOCUMENT No?w�o�D�3 ..Y S1111 C. f \ \ C3 20.00 44'23'2B 15.150_s 4�50.52 w_ 15.11 CEO / P 122130 \\ \ WITNESS MY HMO AND SEAL OF 114E COUNTY COURT OF SMD COUNTY.AT OFFICE IN t:EORCET . TOfAg,THE EAT[LAST ABM wRRTEN. TN ��L�iiy� h EN PLAT NOTES y \\N 111111►r ff Q Tint STALE OF TEx$tl �G/�/ I.NO PORTION OF THIS TRACT 6 ENCROACHED SY ANY SPECIAL FLO00 HAZARD NAS INUNDOIRT Or THE iS Mi,tw. ``\��N1:Y,CO&�i� Q COUNTY OF WILLIAMSON Ml9UIIANICEOWICE�RAft M1RRMif1Y PANEL MAW 464otC0401F,OODPLAN AS comneo 171'THE U.S.FEDERAL EMERGENCY DATE DOCE:MBE11 FOR 'Y aEAK.COUNTY OOl1RT :�G�.�' ��.'Q��i THAT I.DONYiLD DEAN BOOMER.DO HEREBY CERTIFY THAT 1 PREPARED MS PLAT FROM AN ACTUAL AND �.LY/NON OOJN Y. � COUNTY.SON 1ElfI�S �: �. '*:_ Q WERE ACCURATE ON-THE-GROUND 19R DV OF THE LAND MO ON,THE CORNER MONIH rreCH SNOTER 4 T1fSUSDA 2.NO PORTION OF THIS TRACT 16 DOMOACHED BY THE ULTIMATE 1R NM&CHANCE FLOODPUiat VAW4k14110/g..' 1 ' /\ . - Q WERE PROPEIB.Y PLACED UNDER MY PER90NAt.SUMMON,IN AOOORDANCE WITH CHAPTER 4--SUBDfW6NONi rOEStON ANO OONlS1AUCT10N,PART■-2!ONlM"AND OEVELOPIIEINT CODE.( OE OF 0110IMIICl3,C fI OF gY; :Y�RotMND RDac,201e tomoN Ott ArieNDto. 3.BUILDING SEt MON SHILL BE IN AC.COROANCE%WIN MR N.MINNS AND OCRLOPNEM • O OF COOE.CHAPTER Sato AIN L.ZONING PORTION or TmcOT ,B CAA MY Of ROUND ROCK.TEXAS.2010.AS MIETDEO AND ri�� ,;,```�� Ji �� ,!ic.d�'�';E�-4+'. 4,s1DEAwItx3 MALL N CONlS1t1LlCTED N AOOOIUOwNCE 11in1 NhAf1T K>~ONlN10 Awe DEPUTYtrtir411041(tIkiie /i l l 11 CC �� :•9 DEVELOPi IDIT CODE.=ElrNON 6-2L.CITY of ROUND ROot.TEXAS 201s.AS AMENDED.' • ' W ~"pp a WM 60i81Ep `; 6.'A TDf Foot(,0��pputt pa.anN,Iwu Daum ASLmr+G,wD ALONG T. .iiixT sec PfLmmy uNE is Kam 203 E.MAIN STREET,SUITE 204 DONNIE BOERNER SURVEYING COMPANY L.P. O DEAN eoEltliElt ,`...�� 8207 - ....1 CONVENED FOR ALL STIEET slot PI RTY LOTS SWOON HEREON AND OnOe PLC AS DEPICTED SiMlL lUfriw. ROUND ROCK.1EXAS 78864 228 HOUDAY ROAD 512-344-9664 DON ROERNER�COMPANYLP FIRM NO 10193063 F?�!�'.{.f1Q..j' SURVEY NoyTES COMFORT,P 83p TEXAS 98013 F1R412 DATE .1019396 �1► TBP'E f1RM/F-t 63a1FNQN NO.101 g39t33 020 j COMFORT.TC 78013 JOB NO.19-256 S UR 1.BANS OF BEARING VMS CIT.MU!iHED mom THE STATE RAW OOOROIMJI S13TEM.NORTH Ai ERICNI DATUM OF 1ae3.TEXAS CENTRAL ZONE. C.) 1 FP2004-003 O 0 DocuSign Envelope ID:DA527696-F881-4E3D-9E; )8F88E3EA89 II TEXAS REALTORS COMMERCIAL CONTRACT FINANCING ADDENDUM USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®,INC.IS NOT AUTHORIZED ©Texas Association of REALTORS®,Inc.2010 ADDENDUM TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED PARTIES CONCERNING THE PROPERTY AT Commerce Cove, Round Rock, TX 78664 _ The portion of the Sales Price not payable in cash will be paid as follows: (Check all that apply.) 'X' A. THIRD PARTY FINANCING: (1) The contract is contingent upon Buyer obtaining a third party loan(s) secured by the Property in the amount of$ 480,000.00 for not less than 20 years with the initial interest rate not to exceed 5.000 % per annum and payments calculated on an amortization period of no less than 20 years. (2) Buyer will apply for the third party loan(s) described in Paragraph A(1) promptly after the effective date. If Buyer cannot obtain the loan(s), Buyer may give Seller written notice within 45 days after the effective date and the contract will terminate and the earnest money, less any independent consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer. If Buyer does not give such notice within the time required, this contract will no longer be subject to the contingency described in this Paragraph A. (3) Each note to be executed under this addendum is to be secured by vendor's and deed of trust liens. B. ASSUMPTION: (1) Buyer will assume the unpaid principal balance of the existing promissory note secured by the Property payable to dated which balance at closing will be $ (2) Buyer's initial payment will be the first payment due after closing. Buyer's assumption of the existing note includes all obligations imposed by the deed of trust securing the note, recorded in (recording reference) in the real property records of the county where the Property is located. (3) If the unpaid principal balance of the assumed loan as of the date of closing varies from the loan balance stated in Paragraph B(1), the cash payable at closing will be adjusted by the net amount of any variance; provided, if the total principal balance of the assumed loan varies in an amount greater than$ at closing, either party may terminate this contract and the earnest money will be refunded to Buyer unless either party elects to eliminate the excess in the variance by an appropriate adjustment at closing. (4) Buyer may terminate the contract and the earnest money, less any independent consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer if the note holder on assumption requires: (a) Buyer to pay an assumption fee in excess of$ .and Seller declines to pay such excess; (b) an increase in the interest rate to more than %; or (c) any other modification of the loan documents. (5) Unless Seller is released of liability on any assumed note, Seller requires a vendor's lien and deed of trust to secure assumption, which will be automatically released on execution and delivery of a release by the note holder. c DS (TXR-1931) 1-26-10 Initialed for Identification by Seller: and BuyerOh Page 1 of 4 9 Don Quick,1000 North IH-35 Suite A Round Rock TX 78681 Phone:512.255.300u rdx: Commerce Cove- Brent Campbell Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada NIT 1J5 www.lwolf.com DocuSign Envelope ID:DA527696-F881-4E3D-9E: )8F88E3EA89 Commercial Contract Financing Addendum concerning Commerce Cove, Round Rock, TX 78664 (6) If assumption approval is required by the note holder, Buyer will apply for assumption approval within days after the effective date of the contract and will make every reasonable effort to obtain assumption approval. If Buyer cannot obtain assumption approval, Buyer may give Seller written notice within days after the effective date and the contract will terminate and the earnest money, less any independent consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer. If Buyer does not give such notice within the time required and Buyer does not close because Buyer is not able to assume the existing note, Buyer will be in default. C. SELLER FINANCING: (1) At closing, Buyer will execute and deliver a promissory note (the note) from Buyer to Seller in the amount of$ , bearing % interest per annum. Matured, unpaid amounts will bear interest at the maximum rate of interest allowed by law. (2) The note will be payable as follows: (a) In one payment, due after the date of the note, with interest payable: (i) monthly (ii) (b) In installments of $ including interest plus interest beginning after the date of the note and continuing at monthly intervals thereafter for when the entire balance of the note will be due and payable. (c) Interest only in monthly installments for the first years and thereafter in installments of$ including interest plus interest beginning after the date of the note and continuing at monthly intervals thereafter for when the entire balance of the note will be due and payable. (3) The note will be secured by vendor's and deed of trust liens and an assignment of leases payable at the placed designated by Seller. (4) The note will provide that if Buyer fails to timely pay an installment within 10 days after the installment is due, Buyer will pay a late fee equal to 5% of the installment not paid. (5) The note _will _J will not provide for liability (personal or corporate) against the maker in the event of default. (6) The note may be prepaid in whole or in part at any time without penalty. Any prepayments are to be applied to the payment of the installments of principal last maturing and interest will immediately cease on the prepaid principal. (7) The lien securing payment of the note will be inferior to any lien securing any superior note described in this addendum. If an owner's policy of title insurance is furnished, Buyer, at Buyer's expense, will furnish Seller with a mortgagee title policy in the amount of the note at closing. (8) If all or any part of the Property is sold or conveyed without Seller's prior written consent, Seller, at Seller's option, may declare the outstanding principal balance of the note, plus accrued interest, immediately due and payable. Any of the following is not a sale or conveyance of the Property: (a) the creation of a subordinate lien; (b) a sale under a subordinate lien; (c) a deed under threat or order of condemnation; (d) a conveyance solely between the parties; or (e) the passage of title by reason of death of a maker or operation o•,=-DS (TXR-1931) 1-26-10 Initialed for Identification by Seller: and Buyer 19* Page 2 of 4 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www.lwoif.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E. )8F88E3EA89 Commercial Contract Financing Addendum concerning Commerce Cove, Round Rock, TX 78664 (9) Deposits for Taxes and Insurance: Together with the principal and interest installments, Buyer will will not deposit with Seller a pro rata part of the estimated annual ad valorem taxes on the Property and a pro rata part of the estimated annual insurance premiums for the improvements on the Property. (a) If Buyer deposits taxes and insurance deposits with Seller, Buyer agrees that the taxes and insurance deposits are only estimates and may be insufficient to pay total taxes and insurance premiums. Buyer agrees to pay any deficiency within 30 days after Seller notifies Buyer of any deficiency. Buyer's failure to pay the deficiency is a default under the deed of trust. (b) If any superior lien holder on the Property collects payments for taxes and insurance, any requirement to deposit taxes and insurance deposits with Seller under this addendum is inoperative so long as payments are being made to the superior lien holder. (10) Any event that constitutes a default under any superior lien constitutes a default under the deed of trust securing the note. (11) The note will include a provision for reasonable attorney's fees for any collection action. (12) Unless the parties agree otherwise, the form of the note and loan documents will be as found in the current edition of the State Bar of Texas Real Estate Forms Manual without any additional clauses. D. CREDIT APPROVAL ON ASSUMPTION OR SELLER FINANCING: (1) To establish Buyer's creditworthiness for assumption approval or seller financing, Buyer will deliver to Seller the following information (Buyer's documentation) within days after the effective date of the contract: (a) verification of employment, including salary; (b) verification of funds on deposit in financial institutions; (c) current financial statement; (d) credit report; (e) tax returns for the following years ,• (f) (2) If Buyer does not timely deliver Buyer's documentation or Seller determines, in Seller's sole discretion, that Buyer's creditworthiness is not acceptable, Seller may terminate the contract by giving written notice to Buyer not later than days after the date Buyer must deliver Buyer's documentation under Paragraph D(1) and the earnest money, less any independent consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer. If Seller does not timely terminate the contract under this paragraph, Seller will be deemed to have accepted Buyer's credit. E. SPECIAL PROVISIONS: c DS (TXR-1931) 1-26-10 Initialed for Identification bySeller: , and Buyer Oh Page 3 of 4 Y 9 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1.1 www.iwar.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E )8F88E3EA89 Commercial Contract Financing Addendum concerning Commerce Cove, Round Rock, TX 78664 Seller: City of Round Rock Buyer:Rock Real Estate LLC By: By: Paul David McCartne DocuSigned by. By (signature): By (signature): eat, Qd, Printed Name: Printed Name: Paul IX__ _ 1D822C78FA4o4F3.. 1271/2020 Title: Title: By: By: By (signature): By (signature): Printed Name: Printed Name: Title: Title: (TXR-1931) 1-26-10 Page 4 of 4 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada NIT 1J5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9EP )8F88E3EA89 DocuSign Envelope ID:8ABAEBB8-6F9B-4F39-8195-19178DE1 D289 UTILITY DISTRICT NOTICE for UPPER BRUSHY CREEK WATER CONTROL AND IMPROVEMENT DISTRICT formerly known as BRUSHY CREEK WATER CONTROL AND IMPROVEMENT DISTRICT#1A OF WILLIAMSON AND MILAM COUNTIES Seller: City Cityof Round Rock Purchaser. . Rock Real Estate LLC The real property,described below,that you are about to purchase is located in the Upper Brushy Creek Water Control and Improvement District (District) formerly known as Brushy Creek Water Control and Improvement District of Williamson and Milam Counties. The District has taxing authority separate from any other taxing authority and may,subject to voter approval, issue an unlimited amount of bonds and levy an unlimited rate of tax in payment of such bonds. As of this date, the rate of taxes levied by the District on real property located in the District is $0.02 on each$100 of assessed valuation. The total amount of bonds,excluding refunding bonds and any bonds or any portion of bonds issued that are payable solely from revenues received or expected to be received under a contract with a governmental entity, approved by the voters and which have been or may, at this date, be issued is $-0-, and the aggregate initial principal amounts of all bonds issued for one or more of the specified facilities of the district and payable in whole or in part from property taxes is$-0-. The purpose of this District is to provide drainage and flood control facilities and services within the District from property taxes and/or through the issuance of bonds payable in whole or in part from property taxes. The cost of these facilities is not included in the purchase price of your property,and these facilities are owned or to be owned by the District. The legal description of the property you are acquiring is as follows: (Date) Signature of Seller c--D5 UtilityDistrict Notice Page 1 of 2 Revised February25, 2019 Pt g DocuSign Envelope ID:DA527696-F881-4E3D-9E: )8F88E3EA89 DocuSign Envelope ID:8ABAEBB8-6F9B-4F39-8195-19178DE1 D289 PURCHASER IS ADVISED THAT THE INFORMATION SHOWN ON THIS FORM IS SUBJECT TO CHANGE BY THE DISTRICT AT ANY TIME.THE DISTRICT ROUTINELY ESTABLISHES TAX RATES DURING THE MONTHS OF SEPTEMBER THROUGH DECEMBER OF EACH YEAR, EFFECTIVE FOR THE YEAR IN WHICH THE TAX RATES ARE APPROVED BY THE DISTRICT. PURCHASER IS ADVISED TO CONTACT THE DISTRICT TO DETERMINE THE STATUS OF ANY CURRENT OR PROPOSED CHANGES TO THE INFORMATION SHOWN ON THIS FORM. Purchaser is advised that the real property may or may not be within an inundation easement, or upstream or downstream, of a District-owned flood control structure. For further information you are strongly encouraged to contact the District through its website at www.upperbrushycreekwcid.org. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or prior to execution of a binding contract for the purchase of the real property described in such notice or at closing of purchase of the real property. 11/10/2020 (Date) r -DocusIgned by: PeNAL PM1 kdiNffiktif '1/4---10822C78FA494F3.. Signature of Purchaser STATE OF TEXAS § § COUNTY OF WILLIAMSON § This instrument was acknowledged before me on this the day of , by . Notary Public,State of Texas APPROVED AS TO LEGALITY: AFTER RECORDING RETURN TO: Charles Crossfield Sheets&Crossfield,P.C. Attorneys at Law Purchaser Address 309 East Main St. Round Rock,Texas 78664 City,State Zip r DS Utility District Notice Page 2 of 2 Revised February 25,2019 HV11A DocuSign Envelope ID:DA527696-F881-4E3D-9Et )8F88E3EA89 %I TEXAS REALTORS' INTERMEDIARY RELATIONSHIP NOTICE USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®,INC.IS NOT AUTHORIZED. ©Texas Association of REALTORS®,Inc.2004 To: City of Round Rock (Seller or Landlord) and Rock Real Estate LLC (Prospect) From: Don Quick&Associates, Inc. (Broker's Firm) Commerce Cove Re: Round Rock,TX 78664 (Property) Date: November 24, 2020 A. Under this notice, "owner" means the seller or landlord of the Property and "prospect" means the above-named prospective buyer or tenant for the Property. B. Broker's firm represents the owner under a listing agreement and also represents the prospect under a buyer/tenant representation agreement. C. In the written listing agreement and the written buyer/tenant representation agreement, both the owner and the prospect previously authorized Broker to act as an intermediary if a prospect who Broker represents desires to buy or lease a property that is listed by the Broker. When the prospect makes an offer to purchase or lease the Property, Broker will act in accordance with the authorizations granted in the listing agreement and in the buyer/tenant representation agreement. D. Broker Xi will will not appoint licensed associates to communicate with, carry out instructions of, and provide opinions and advice during negotiations to each party. If Broker makes such appointments, Broker appoints: Brent Campbell to the owner; and Ryan Beardmore to the prospect. E. By acknowledging receipt of this notice, the undersigned parties reaffirm their consent for broker to act as an intermediary. F. Additional information: (Disclose material information related to Broker's relationship to the parties, such as personal relationships or prior or contemplated business relationships.) The undersigned acknowledge receipt of this notice DocuSigned by: Pita Vutd, A 41/2020 Seller or Landlord Date Prospect —1D822C78FA494F3 Date City of Round Rock Rock Real Estate LLC Seller or Landlord Date Prospect Date (TXR-1409) 1-7-04 Page 1 of 1 Don Quick,1000 North IH-35 Suite A Round Rock TX 78681 Phone:512.255.3000 Fax: Commerce Cove- Brent Campbell Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www Iwolf,com DocuSign Envelope ID:DA527696-F881-4E3D-9E5 J8F88E3EA89 DocuSign Envelope ID:8ABAEBB8-6F9B-4F39-8195-19178DE1 D289 11/2/2015 Information About Brokerage Services Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities,including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER'S MINIMUM DUTIES REQUIRED BY LAW(A client is the person or party that the broker represents): • Put the interests of the client above all others,including the broker's own interests; • Inform the client of any material information about the property or transaction received by the broker; • Answer the client's questions and present any offer to or counter-offer from the client;and • Treat all parties to a real estate transaction honestly and fairly. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement An owner's agent must perform the broker's minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer's agent. AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenants agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker's minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller's agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print,set forth the broker's obligations as an intermediary.A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer)to communicate with,provide opinions and advice to,and carry out the instructions of each party to the transaction. • Must not,unless specifically authorized in writing to do so by the party,disclose: o that the owner will accept a price less than the written asking price; o that the buyer/tenant will pay a price greater than the price submitted in a written offer;and o any confidential information or any other information that a party specifically instructs the broker in writing not to disclose,unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer.A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. TO AVOID DISPUTES,ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker's duties and responsibilities to you,and your obligations under the representation agreement. • Who will pay the broker for services provided to you,when payment will be made and how the payment will be calculated. LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker's services.Please acknowledge receipt of this notice below and retain a copy for your records. Don Quick&Associates,Inc. 347889 darren ar_donquick.com (512)255-3000 Licensed Broker Broker Firm Name or License No. Email Phone Primary Assumed Business Name Darren Quick 443913 darren(a' donquick.com (512)814-1820 Designated Broker of Firm License No. Email Phone Darren Quick 443913 darrenadonquick.com (512)814-1820 Licensed Supervisor of Sales Agent! License No. Email Phone Associate Ryan Beardmore r--DS 670855 oS ryan@donquick.com (512)814-1824 Sales Agent/Associate's Name License No 0� 11/10020 Phone P0114- DS l3uyer/Tenant/Seller/Landlor s Date L. Oh Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov TXR-2501 TABS 1-0 Date Don Quick,MO North IH-35 Suite A Round Rock TX 78681 Phone:512.255.3000 Fax: 1503 Brandt Lane- Brent Campbell Produced with Lone Wolf Transactions(zipForrn Ecttion)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www.twotf.com • DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 • tot TEXAS EALT -,RS COMMERCIAL CONTRACT - UNIMPROVED PROPERTY USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®,INC.IS NOT AUTHORIZED. ®Texas Association of REALTORS®,Inc.2018 1. PARTIES: Seller agrees to sell and convey to Buyer the Property described in Paragraph 2. Buyer agrees to buy the Property from Seller for the sales price stated in Paragraph 3. The parties to this contract are: Seller: City of Round Rock Address: 221 E Main Street, Round Rock, TX 78664 Phone: E-mail: Fax: Other: Buyer: Rock Real Estate LLC Address: Phone: (512)771-5085 E-mail: drrock@rockchiro.com Fax: Other: 2. PROPERTY: A. "Property" means that real property situated in Williamson County, Texas at Commerce Cove, Round Rock, TX 78664 (address) and that is legally described on the attached Exhibit A or as follows: • B. Seller will sell and convey the Property together with: (1) all rights, privileges, and appurtenances pertaining to the Property, including Seller's right, title, and interest in any minerals, utilities, adjacent streets, alleys, strips, gores, and rights-of-way; (2) Seller's interest in all leases, rents, and security deposits for all or part of the Property; and (3) Seller's interest in all licenses and permits related to the Property. (Describe any exceptions, reservations, or restrictions in Paragraph 12 or an addendum.) (If mineral rights are to be reserved an appropriate addendum should be attached.) 3. SALES PRICE: A. At or before closing, Buyer will pay the following sales price for the Property: (1) Cash portion payable by Buyer at closing $ 120,000.00 (2) Sum of all financing described in Paragraph 4 $ 480,000.00 • (3) Sales price (sum of 3A(1) and 3A(2)) $ 600,000.00 os (TXR-1802)4-1-18 Initialed for Identification by Seller (fit , and Buy PPP- Page 1 of 14 Don Qulck,1000 North 11-1-35 Suite A Rotted Rock TX 78651 Phone:5 Fax: Commerce Cove' Brent Campbell Produced with Lone Wolf Transactions(zlpForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada HIT 1J5 www.twoB.com R-2o 2D,o3no DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F8B1-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock.TX 78664 B. Adjustment to Sales Price: (Check(1) or(2) only.) ❑X (1) The sales price will not be adjusted based on a survey. (2) The sales price will be adjusted based on the latest survey obtained under Paragraph 6B. (a) The sales price is calculated on the basis of$ per ' (i) square foot of_total area_ net area. (ii) acre of_total area_net area. (b) "Total area" means all land area within the perimeter boundaries of the Property. "Net area" means total area less any area of the Property within: (i) public roadways; (ii) rights-of-way and easements other than those that directly provide utility services to the Property; and (iii) (c) If the sales price is adjusted by more than % of the stated sales price, either party may terminate this contract by providing written notice to the other party within days after the terminating party receives the survey. If neither party terminates this contract or if the variance is less than the stated percentage, the adjustment to the sales price will be made to the cash portion of the sales price payable by Buyer. 4. FINANCING: Buyer will finance the portion of the sales price under Paragraph 3A(2) as follows: X A. Third Party Financing: One or more third party loans in the total amount of$480,000.00 This contract: (1) is not contingent upon Buyer obtaining third party financing. X (2) is contingent upon Buyer obtaining third party financing in accordance with the attached Commercial Contract Financing Addendum (TXR-1931). ❑ B. Assumption: In accordance with the attached Commercial Contract Financing Addendum (TXR-1931), Buyer will assume the existing promissory note secured by the Property, which balance at closing will be $ C. Seller Financing: The delivery of a promissory note and deed of trust to Seller under the terms of the attached Commercial Contract Financing Addendum (TXR-1931) in the amount of 5. EARNEST MONEY: A. Not later than 3 days after the effective date, Buyer must deposit $ $5,000.00 as earnest money with Independence Title (title company) at 203 W Main St, Suite A, Pfluqerville, TX 78660 (address) Connie Wooster (closer). If Buyer fails to timely deposit the earnest money, Seller may terminate this contract or exercise any of Seller's other remedies under Paragraph 15 by providing written notice to Buyer before Buyer deposits the earnest money. B. Buyer will deposit an additional amount of$ with the title company to be made dart of the earnest money on or before: (i) days after Buyer's right to terminate under Paragraph 7B expires; or (ii) Buyer will be in default if Buyer fails to deposit the additional amount required by this Paragraph 58 within 3 days after Seller notifies Buyer that Buyer has not timely deposited the additional amount. C. Buyer may instruct the title company to deposit the earnest money in an interest-bearing account at a federally insured financial institution and to crediitany interest to B DS (TXR-1802)4-1-18 Initialed for Identification by Seller`�"` , and Buy4pQk Page 2 of 14 Produced with Lone WoNTransactlons(zipFonn Edition)231 Shearson Cr.Cambridge,Ontario.Cat www.Iwolfcom CommerceCove- DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-FB81-4E3D-9E5F-208FBBE3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock.TX 78664 6. TITLE POLICY AND SURVEY: A. Title Policy: (1) Seller, at Seller's expense, will furnish Buyer an Owner's Policy of Title Insurance (the title policy) issued by any underwriter of the title company in the amount of the sales price, dated at or after closing, insuring Buyer against loss under the title policy, subject only to: (a) those title exceptions permitted by this contract or as may be approved by Buyer in writing; and (b) the standard printed exceptions contained in the promulgated form of title policy unless this contract provides otherwise. (2) The standard printed exception as to discrepancies, conflicts, or shortages in area and boundary lines, or any encroachments or protrusions, or any overlapping improvements: X (a) will not be amended or deleted from the title policy. (b) will be amended to read "shortages in areas" at the expense of_Buyer_Seller. (3) Within 15 days after the effective date, Seller will furnish Buyer a commitment for title insurance (the commitment) including legible copies of recorded documents evidencing title exceptions. Seller authorizes the title company to deliver the commitment and related documents to Buyer at Buyer's address. B. Survey: Within 15 days after the effective date: (1) Buyer will obtain a survey of the Property at Buyer's expense and deliver a copy of the survey to Seller. The survey must be made in accordance with the: (i) ALTA/NSPS Land Title Survey standards, or (ii) Texas Society of Professional Surveyors' standards for a Category 1A survey under the appropriate condition. Seller will reimburse Buyer (insert amount) of the cost of the survey at closing, if closing occurs. (2) Seller, at Seller's expense, will furnish Buyer a survey of the Property dated after the effective date. The survey must be made in accordance with the: (i) ALTA/NSPS Land Title Survey standards, or (ii) Texas Society of Professional Surveyors' standards for a Category 1A survey under the appropriate condition. X (3) Seller will deliver to Buyer and the title company a true and correct copy of Seller's most recent survey of the Property along with an affidavit required by the title company for approval of the existing survey. If the existing survey is not acceptable to the title company, X Seller _ Buyer (updating party), will, at the updating party's expense, obtain a new or updated survey acceptable to the title company and deliver the acceptable survey to the other party and the title company within 20 days after the title company notifies the parties that the existing survey is not acceptable to the title company. The closing date will be extended daily up to 20 days if necessary for the updating party to deliver an acceptable survey within the time required. The other party will reimburse the updating party None (insert amount or percentage) of the cost of the new or updated survey at closing, if closing occurs. C. Buyer's Objections to the Commitment and Survey: (1) Within 5 days after Buyer receives the last of the commitment, copies of the documents evidencing the title exceptions, and any required survey, Buyer may object in writing to matters disclosed in the items if: (a) the matters disclosed are a restriction upon the Property or constitute a defect or encumbrance to title other than those permitted by this contract or liens that Seller will satisfy at closing or Buyer will assume at closing; or(b) the items show that any part of the Property lies in a special flood hazard area (an "A" or "V" zone as defined by FEMA). If the commitment or survey is revised or any new document evidencing a title exception is delivered, Buyer may object to any new matter revealed in such revision or new document. Buyer's objection must be made within the same number of days stated in this paragraph, °5 ng when the revision or new (TXR-1802)4-1-18 Initialed for Identification by Seller (M , and Buy PPM' Page 3 of 14 Produced with Lone Wolf Transaction(vpPorm Edition)231 Shannon Cr.Cambridge,Ontario.Canada Ni I lab wwwiwolccom Commerce Cove- DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E30-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock.TX 78664 document is delivered to Buyer. If Paragraph 6B(1) applies, Buyer is deemed to receive the survey on the earlier of: (i) the date of Buyer's actual receipt of the survey; or (ii) of the deadline specified in Paragraph 6B. (2) Seller may, but is not obligated to, cure Buyer's timely objections within 15 days after Seller receives the objections. The closing date will be extended as necessary to provide such time to cure the objections. If Seller fails to cure the objections by the time required, Buyer may terminate this contract by providing written notice to Seller within 5 days after the time by which Seller must cure the objections. If Buyer terminates, the earnest money, less any independent consideration under Paragraph 7B(1), will be refunded to Buyer. (3) Buyer's failure to timely object or terminate under this Paragraph 6C is a waiver of Buyer's right to object except that Buyer will not waive the requirements in Schedule C of the commitment. 7. PROPERTY CONDITION: A. Present Condition: Buyer accepts the Property in its present condition except that Seller, at Seller's expense, will complete the following before closing: Buyer accepts property As-is,Where-is. B. Feasibility Period: Buyer may terminate this contract for any reason within 45 days after the effective date(feasibility period) by providing Seller written notice of termination. (1) Independent Consideration. (Check only one box and insert amounts.) X- (a) If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer less $ 100.00 that Seller will retain as independent consideration for Buyer's unrestricted right to terminate. Buyer has tendered the independent consideration to Seller upon payment of the amount specified in Paragraph 5A to the title company, The independent consideration is to be credited to the sales price only upon closing of the sale. If no dollar amount is stated in this Paragraph 7B(1) or if Buyer fails to deposit the earnest money, Buyer will not have the right to terminate under this Paragraph 7B. - (b) Not later than 3 days after the effective date, Buyer must pay Seller $ as independent consideration for Buyer's right to terminate by tendering such amount to Seller or Seller's agent. If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer and Seller will retain the independent consideration. The independent consideration will be credited to the sales price only upon closing of the sale. If no dollar amount is stated in this Paragraph 7B(2) or if Buyer fails to pay the independent consideration Buyer will not have the right to terminate under this Paragraph 7B. (2) Feasibility Period Extension: Prior to the expiration of the initial feasibility period, Buyer may extend the feasibility period for a single period of an additional 30 days by depositing additional earnest money in the amount of$500.00 with the title company. If no dollar amount is stated in this Paragraph or if Buyer fails to timely deposit the additional earnest money the extension of the feasibility period will not be effective. C. inspections. Studies. or Assessments: (1) During the feasibility period, Buyer, at Buyer's expense, may complete or cause to be completed any and all inspections, studies, or assessments of the Property (including all improvements and fixtures) desired by Buyer. (I, oa (TXR-1802)4-1-18 Initialed for Identification by Seller , and Buy PVk Page 4 of 14 Produced with Lone Wolf Transedbns(vpForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www.lwoll.com Commerce Cove- DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove. Round Rock,TX 78664 (2) Buyer must: • (a) employ only trained and qualified inspectors and assessors; (b) notify Seller, in advance, of when the inspectors or assessors will be on the Property; (c) abide by any reasonable entry rules or requirements of Seller; (d) not interfere with existing operations or occupants of the Property; and (e) restore the Property to its original condition if altered due to inspections, studies, or assessments that Buyer completes or causes to be completed. (3) Except for those matters that arise from the negligence of Seller or Seller's agents, Buyer is responsible. for any claim, liability, encumbrance, cause of action, and expense resulting from Buyer's inspections, studies, or assessments, including any property damage or personal injury. Buyer will indemnify, hold harmless, and defend Seller and Seller's agents against any claim involving a matter for which Buyer is responsible under this paragraph. This paragraph survives termination of this contract. D. Property Information: (1) Delivery of Property Information: Within 15 days after the effective date, Seller will deliver to Buyer: (Check all that apply.) (a) copies of all current leases, including any mineral leases, pertaining to the Property, including any modifications, supplements, or amendments to the leases; - (b) copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing; X- (c) copies of all previous environmental assessments, geotechnical reports, studies, or analyses made on or relating to the Property; - (d) copies property tax statements for the Property for the previous 2 calendar years; X (e) plats of the Property; (f) copies of current utility capacity letters from the Property's water and sewer service provider; and X- (g) In regard to 7.D.(1) checked items, Seller will deliver checked items that Seller has in Seller's possession. (2) Return of Property Information: If this contract terminates for any reason, Buyer will, not later than 10 days after the termination date: (Check all that apply.) (a) return to Seller all those items described in Paragraph 7D(1) that Seller delivered to Buyer in other than an electronic format and all copies that Buyer made of those items; X- (b) delete or destroy all electronic versions of those items described in Paragraph 7D(1) that Seller delivered to Buyer or Buyer copied in any format; and - (c) deliver to Seller copies of all inspection and assessment reports related to the Property that Buyer completed or caused to be completed. This Paragraph 7D(2) survives termination of this contract. E. Contracts Affecting Operations: Until closing, Seller: (1) will operate the Property in the same manner as on the effective date under reasonably prudent business standards; and (2) will not transfer or dispose of any part of the Property, any interest or right in the Property, or any of the personal property or other items described in Paragraph 2B or sold under this contract. After the feasibility period ends, Seller may not enter into, amend, or terminate any other contract that affects the operations of the Property without Buyer's written approval. 8. LEASES: A. Each written lease Seller is to assign to Buyer under this contract must be in full force and effect according to its terms. Seller may not enter into any new lease, fail to comply with any existing lease, or make any amendment or modification to anyy existing lease with mist a'ryer's written consent. Seller (TXR-1802)4-1-18 Initialed for Identification by Seller l CA` , and Buyer'/& _ Page 5 of 14 Produced with Lone Wolf Transaction(zipFmm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N11lib www.lwoll.com CommerceCove- • DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock.TX 78664 must disclose, in writing, if any of the following exist at the time Seller provides the leases to the Buyer or subsequently occur before closing: (1) any failure by Seller to comply with Seller's obligations under the leases; (2) any circumstances under any lease that entitle the tenant to terminate the lease or seek any offsets or damages; (3) any advance sums paid by a tenant under any lease; (4) any concessions, bonuses, free rents, rebates, brokerage commissions, or other matters that affect any lease; and (5) any amounts payable under the leases that have been assigned or encumbered, except as security for loan(s) assumed or taken subject to under this contract. B. Estoppel Certificates:Within days after the effective date, Seller will deliver to Buyer estoppel certificates signed not earlier than by each tenant that leases space in the Property. The estoppel certificates must include the certifications contained in the current version of TXR Form 1938 - Commercial Tenant Estoppel Certificate and any additional information requested by a third party lender providing financing under Paragraph 4 if the third party lender requests such additional information at least 10 days prior to the earliest date that Seller may deliver the signed estoppel certificates. 9. BROKERS: A. The brokers to this sale are: Principal Broker:Don Quick&Associates,Inc. Cooperating Broker: Agent: Brent Campbell!Ryan Beardmore Agent: Address:1000 N Interstate 35 Address: Round Rock,TX 78681 ' Phone&-Ralf:(512)814-1814 (512)814-1825 Phone & Fax: E-mail: brent@donquick.com ;ryan@donquick.com E-mail: License No.:347889 License No.: Principal Broker: (Check only one box) Cooperating Broker represents Buyer. LirepresentsSeller only. represents Buyer only. X is an intermediary between Seller and Buyer. B. Fees: (Check only(1) or(2) below.) (Complete the Agreement Between Brokers on page 14 only if(1) is selected.) [ (1) Seller will pay Principal Broker the fee specified by separate written commission agreement between Principal Broker and Seller. Principal Broker will pay Cooperating Broker the fee specified in the Agreement Between Brokers found below the parties' signatures to this contract. X (2) At the closing of this sale, Seller will pay: Principal Broker a total cash fee of: Cooperating Broker a total cash fee of: X 6.000 % of the sales price. _ % of the sales price. The cash fees will be paid in Williamson County, Texas. Seller authorizes the title company to pay the brokers from the Seller's proceed 08 1g. (TXR-1802)4-1-18 Initialed for Identification by Seller ( w` , and Buy PR& Page 6 of 14 Produced with Lone Wolf Transactions(zipEorm Edition)231 Shearson Cr,Cambridge,Ontario,Canada NIT 1,15 vww.IwolLcom Commerce Cove- DocuSign Envelope ID:448FB3AC-1F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock.TX 78664 NOTICE: Chapter 62, Texas Property Code, authorizes a broker to secure an earned commission with a lien against the Property. C. The parties may not amend this Paragraph 9 without the written consent of the brokers affected by the amendment. 10. CLOSING: A. The date of the closing of the sale (closing date)will be on or before the later of: (1) X 30 days after the expiration of the feasibility period. (specific date). (2) 7 days after objections made under Paragraph 6C have been cured or waived. B. If either party fails to close by the closing date, the non-defaulting party may exercise the remedies in Paragraph 15. C. At closing, Seller will execute and deliver, at Seller's expense, a "general X special warranty deed. The deed must include a vendor's lien if any part of the sales price is financed. The deed must convey good and indefeasible title to the Property and show no exceptions other than those permitted under Paragraph 6 or other provisions of this contract. Seller must convey the Property: (1) with no liens, assessments, or other security interests against the Property which will not be satisfied out of the sales price, unless securing loans Buyer assumes; (2) without any assumed loans in default; and (3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or trespassers except tenants under the written leases assigned to Buyer under this contract. D. At closing, Seller, at Seller's expense, will also deliver to Buyer: • (1) tax statements showing no delinquent taxes on the Property; (2) an assignment of all leases to or on the Property; (3) to the extent assignable, an assignment to Buyer of any licenses and permits related to the Property; (4) evidence that the person executing this contract is legally capable and authorized to bind Seller; (5) an affidavit acceptable to the title company stating that Seller is not a foreign person or, if Seller is a foreign person, a written authorization for the title company to: (i) withhold from Seller's proceeds an amount sufficient to comply with applicable tax law; and (ii) deliver the amount to the Internal Revenue Service (IRS) together with appropriate tax forms; and (6) any notices, statements, certificates, affidavits, releases, and other documents required by this contract, the commitment, or law necessary for the closing of the sale and issuance of the title policy, all of which must be completed by Seller as necessary. E. At closing, Buyer will: (1) pay the sales price in good funds acceptable to the title company; (2) deliver evidence that the person executing this contract is legally capable and authorized to bind Buyer; (3) sign and send to each tenant in a lease for any part of the Property a written statement that: (a) acknowledges Buyer has received and is responsible for the tenant's security deposit; and (b) specifies the exact dollar amount of the security deposit; (4) sign an assumption of all leases then in effect; and (5) execute and deliver any notices, statements, certificates, or other documents required by this contract or law necessary to close the sale. F. Unless the parties agree otherwise, the closing documents will be as found in the basic forms in the current edition of the State Bar of Texas Real Estate Forms Menu• s :any additional clauses. (TXR-1802)41-18 Initialed for Identification by Seller UK and Buy PM. _ Page 7 of 14 Produced with Lone Wolf Transactians(zipFom,Edillen)231 Shearson Cr.Cambridge,Ontario,Canada NIT 1J5 www.Iwolf.com Commerce Cove DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527895-F8814E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock.TX 78664 11.POSSESSION: Seller will deliver possession of the Property to Buyer upon closing and funding of this sale in its present condition with any repairs Seller is obligated to complete under this contract, ordinary wear and tear excepted. Any possession by Buyer before closing or by Seller after closing that is not authorized by a separate written lease agreement is a landlord-tenant at sufferance relationship between the parties. 12.SPECIAL PROVISIONS: The following special provisions apply and will control in the event of a conflict with other provisions of this contract. (If special provisions are contained in an Addendum, identify the Addendum hem and reference the Addendum in Paragraph 22D.) 13.SALES EXPENSES: A. Seller's Expenses: Seller will pay for the following at or before closing: (1) releases of existing liens, other than those liens assumed by Buyer, including prepayment penalties and recording fees; (2) release of Seller's loan liability, if applicable; (3) tax statements or certificates; (4) preparation of the deed; (5) one-half of any escrow fee; (6) costs to record any documents to cure title objections that Seller must cure; and (7) other expenses that Seller will pay under other provisions of this contract. B. Buyer's Expenses: Buyer will pay for the following at or before closing: (1) all loan expenses and fees; (2) preparation of any deed of trust; (3) recording fees for the deed and any deed of trust; (4) premiums for flood insurance as may be required by Buyer's lender; (5) one-half of any escrow fee; (6) other expenses that Buyer will pay under other provisions of this contract. 14. PRORATIONS: A. Prorations: (1) Interest on any assumed loan, taxes, rents, and any expense reimbursements from tenants will be prorated through the closing date. (2) If the amount of ad valorem taxes for the year in which the sale closes is not available on the closing date, taxes will be prorated on the basis of taxes assessed in the previous year. If the taxes for the year in which the sale closes vary from the amount prorated at closing, the parties will adjust the prorations when the tax statements for the year in which the sale closes become available. This Paragraph 14A(2) survives closing. (3) If Buyer assumes a loan or is taking the Property subject to an existing lien, Seller will transfer all reserve deposits held by the lender for the payment of taxes, insurance premiums, and other charges to Buyer at closing and Buyer will reimburse such amounts to Seller by an appropriate adjustment at closing. B. Rollback Taxes: If Seller's use or change in use of the Property before closing results in the assessment of additional taxes, penalties, or interest (assessments) for periods before closing, the assessments will be the obligation of the Seller. If this sale or Buyer's use of the Property after closing results in additional assessments for periods before closing, the assessments will be the obligation of Buyer. This Paragraph 14B survives closing. os (TXR-1802)4-1-18 Initialed for Identification by Seller w` and BuyePPM. Page 8 of 14 Pmducedwltt Lone Woll Transaction(zlpForm Edition)231 Shearson Cr.Cambridge.Ontario,Canada Nit 1J5 www.Iwolcom CommerceCore- DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning commerce Cove,Round Rock.TX 78664 C. Rent and Security Deposits: At closing, Seller will tender to Buyer all security deposits and the following advance payments received by Seller for periods after closing: prepaid expenses, advance rental payments, and other advance payments paid by tenants. Rents prorated to one party but received by the other party will be remitted by the recipient to the party to whom it was prorated within 5 days after the rent is received. This Paragraph 14C survives closing. 15. DEFAULT: A. If Buyer fails to comply with this contract, Buyer is in default and Seller, as Seller's sole remedy(ies), may terminate this contract and receive the earnest money, as liquidated damages for Buyer's failure except for any damages resulting from Buyer's inspections, studies or assessments in accordance with Paragraph 7C(3)which Seller may pursue; or (Check if applicable) enforce specific performance, or seek such other relief as may be provided by law. B. If, without fault, Seller is unable within the time allowed to deliver the estoppel certificates, survey or the commitment, Buyer may: (1) terminate this contract and receive the.earnest money, less any independent consideration under Paragraph 7B(1), as liquidated damages and as Buyer's sole remedy; or • (2) extend the time for performance up to 15 days and the closing will be extended as necessary. C. Except as provided in Paragraph 15B, if Seller fails to comply with this contract, Seller is in default and Buyer may: (1) terminate this contract and receive the eamest money, less any independent consideration under Paragraph 7B(1), as liquidated damages and as Buyer's sole remedy; or (2) enforce specific performance, or seek such other relief as may be provided by law, or both. 16. CONDEMNATION: If before closing, condemnation proceedings are commenced against any part of the Property, Buyer may: A. terminate this contract by providing written notice to Seller within 15 days after Buyer is advised of the condemnation proceedings and the earnest money, less any independent consideration paid under Paragraph 7B(1),will be refunded to Buyer; or B. appear and defend in the condemnation proceedings and any award will, at Buyer's election, belong to: (1) Seller and the sales price will be reduced by the same amount; or (2) Buyer and the sales price will not be reduced. 17.ATTORNEY'S FEES: If Buyer, Seller, any broker, or the title company is a prevailing party in any legal proceeding brought under or with relation to this contract or this transaction, such party is entitled to recover from the non-prevailing parties all costs of such proceeding and reasonable attorney's fees. This Paragraph 17 survives termination of this contract. 18. ESCROW: A. At closing, the earnest money will be applied first to any cash down payment, then to Buyer's closing costs, and any excess will be refunded to Buyer. If no closing occurs, the title company may require payment of unpaid expenses incurred on behalf of the parties and a written release of liability of the title company from all parties. B. If one party makes written demand for the earnest money, the title company will give notice of the demand by providing to the other party a copy of the demand. If the title company does not receive written objection to the demand from the other party within 15 days after the date the title company sent the demand to the other party, the title company 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 the title company may the same to th r s. (TXR-1802)4-1-18 Initialed for Identification by Seller , and Buy PPP- Page 9 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,OnWeno,Ca,,...,.,,., ,.. w,w.lwolf.com Commerce Cove- DocuSign Envelope ID:448FB3AC-1F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock.TX 78664 C. The title company will deduct any independent consideration under Paragraph 7B(1) before disbursing any earnest money to Buyer and will pay the independent consideration to Seller. D. If the title company complies with this Paragraph 18, each party hereby releases the title company from all claims related to the disbursal of the earnest money. E. Notices under this Paragraph 18 must be sent by certified mail, retum receipt requested. Notices to the title company are effective upon receipt by the title company. F. Any party who wrongfully fails or refuses to sign a release acceptable to the title company within 7 days after receipt of the request will be liable to the other party for: (i) damages; (ii) the earnest money; (iii) reasonable attorney's fees; and (iv) all costs of suit. G. Seller_ Buyer intend(s) to complete this transaction as a part of an exchange of like-kind properties in accordance with Section 1031 of the Internal Revenue Code, as amended. All expenses in connection with the contemplated exchange will be paid by the exchanging party. The other party will not incur any expense or liability with respect to the exchange. The parties agree to cooperate fully and in good faith to arrange and consummate the exchange so as to comply to the maximum extent feasible with the provisions of Section 1031 of the Internal Revenue Code. The other provisions of this contract will not be affected in the event the contemplated exchange fails to occur. 19. MATERIAL FACTS: To the best of Seller's knowledge and belief: (Check only one box.) A. Seller is not aware of any material defects to the Property except as stated in the attached Commercial Property Condition Statement(TXR-1408). X B. Except as otherwise provided in this contract, Seller is not aware of: (1) any subsurface: structures, pits, waste, springs, or improvements; (2) any pending or threatened litigation, condemnation, or assessment affecting the Property; (3) any environmental hazards or conditions that materially affect the Property; (4) whether the Property is or has been used for the storage or disposal of hazardous materials or toxic waste, a dump site or landfill, or any underground tanks or containers; (5) whether radon, asbestos containing materials, urea-formaldehyde foam insulation, lead-based paint, toxic mold (to the extent that it adversely affects the health of ordinary occupants), or other pollutants or contaminants of any nature now exist or ever existed on the Property; (6) any wetlands, as defined by federal or state law or regulation, on the Property; (7) any threatened or endangered species or their habitat on the Property; (8) any present or past infestation of wood-destroying insects in the Property's improvements; (9) any contemplated material changes to the Property or surrounding area that would materially and detrimentally affect the ordinary use of the Property; (10)any condition on the Property that violates any law or ordinance. (Describe any exceptions to (1)-(10) in Paragraph 12 or an addendum.) 20. NOTICES: All notices between the parties under this contract must be in writing and are effective when hand-delivered, mailed by certified mail return receipt requested, or sent by facsimile transmission to the parties addresses or facsimile numbers stated in Paragraph 1. The parties will send copies of any notices to the broker representing the party to whom the notices are sent. X A. Seller also consents to receive any notices by e-mail at Seller's e-mail address stated in Paragraph 1. X B. Buyer also consents to receive any notices by e-mail at Buyer's e-mail address stated in Paragraph 1. 21. DISPUTE RESOLUTION: The parties agree to negotiate in good faith in an effort to resolve any dispute related to this contract that may arise. If the dispute cannot be resolved by negotiation, the parties will submit the dispute to mediation before resorting to arbitration or litigation and will equally share the costs of a mutually acceptable mediator. This paragraph survives termination of this contract. This paragraph does not preclude a party from seeking equitable relief from a court of f°9 ant jurisdiction. (TXR-1802)4-1-18 Initialed for Identification by Seller(r and Buy kPflM_ _ Page 10 of 14 Produced with Lone VJol/Transactions(zlpFenn Edition)231 Shearson Cr.Cambridge,Ontario,Genova nu u., www.iwol.com Commerce Cove- . DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-206F86E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock.TX 78664 22.AGREEMENT OF THE PARTIES: A. This contract is binding on the parties, their heirs, executors, representatives, successors, and permitted assigns. This contract is to be construed in accordance with the laws of the State of Texas. If any term or condition of this contract shall be held to be invalid or unenforceable, the remainder of this contract shall not be affected thereby. B. This contract contains the entire agreement of the parties and may not be changed except in writing. C. If this contract is executed in a number of identical counterparts, each counterpart is an original and all counterparts, collectively, constitute one agreement. D. Addenda which are part of this contract are: (Check all that apply.) (1) Property Description Exhibit identified in Paragraph 2; X (2) Commercial Contract Financing Addendum (TXR-1931); (3) Commercial Property Condition Statement (TXj1408); (4) Commercial Contract Addendum for Special Provisions (TXR-1940); X (5) Notice to Purchaser of Real Property in a Water District(MUD); ® (6) Addendum for Coastal Area Property (TXR-1915); (7) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway(TXR-1916); X (8) Information About Brokerage Services (TXR-2501); (9) Information About Mineral Clauses in Contract Forms (TXR-2509); and X (10)TXR-1409 ; Exhibit A • (Note: Counsel for Texas REALTORS® has determined that any of the foregoing addenda which are promulgated by the Texas Real Estate Commission(TREC)or published by Texas REALTORS®are appropriate for use with this form.) E. Buyer [may _may not assign this contract. If Buyer assigns this contract, Buyer will be relieved of any future liability under this contract only if the assignee assumes, in writing, all obligations and liability of Buyer under this contract. 23.TIME: Time is of the essence in this contract. The parties require strict compliance with the times for performance. If the last day to perform under a provision of this contract falls on a Saturday, Sunday, or legal holiday, the time for performance is extended until the end of the next day which is not a Saturday, Sunday, or legal holiday. 24. EFFECTIVE DATE: The effective date of this contract for the purpose of performance of all obligations is the date the title company receipts this contract after all parties execute this contract. 25.ADDITIONAL NOTICES: A. Buyer should have an abstract covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished with or obtain a title policy. B. 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 fees of the district before final execution of this contract. C. Notice Required by §13.257, Water Code: "The real property, described below, that you are about to purchase may be located in a certificated water or sewer service area, which is authorized by law to provide water or sewer service to the properties in the certificated area. If your property is located in a certificated area there may be special costs or charges that you will be required to pay before you can receive water or sewer service. There may be a period required to construct lines or other facilities necessary to provide water or sewer service to your property. You are advised to determine if the property is in a certificated area and contact the utility service prowi os r tin determine the cost that you (TXR-1802)4-1-18 Initialed for Identification by Seller I w` , and BuyPli _ Page 11 of 14 Produced with Lone Wolf Transactions(zlpForm Edition)231 Shearson Cr.Cambridge,Ontario,Can..,..,.,,',.. www.lwoll.com CommerceCove- DocuSign Envelope ID:448FB3AC-1F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881.4E30-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock.TX 78664 will be required to pay and the period, if any, that is required to provide water or sewer service to your property. The undersigned purchaser 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 the notice or at closing of purchase of the real property."The real property is described in Paragraph 2 of this contract. D. If the Property adjoins or shares a common boundary with the tidally influenced submerged lands of the state, §33.135 of the Texas Natural Resources Code requires a notice regarding coastal area property to be included as part of this contract (the Addendum for Coastal Area Property (TXR-1915) maybe used). E. If the Property is located seaward of the Gulf Intracoastal Waterway, §61.025, Texas Natural Resources Code, requires a notice regarding the seaward location of the Property to be included as part of this contract (the Addendum for Property Located Seaward of the Gulf Intracoastal Waterway (TXR-1916) may be used). F. If the Property is located outside the limits of a municipality, the Property may now or later be included in the extra-territorial jurisdiction (ETJ) 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 ETJ. To determine if the Property is located within a municipality's ETJ, Buyer should contact all municipalities located in the general proximity of the Property for further information. G. Brokers are not qualified to perform property inspections, surveys, engineering studies, environmental assessments, or inspections to determine compliance with zoning, governmental regulations, or laws. Buyer should seek experts to perform such services. Buyer should review local building codes, ordinances and other applicable laws to determine their effect on the Property. Selection of experts, inspectors, and repairmen is the responsibility of Buyer and not the brokers. Brokers are not qualified to determine the credit worthiness of the parties. H. NOTICE OF WATER LEVEL FLUCTUATIONS: If the Property adjoins an impoundment of water, including a reservoir or lake, constructed and maintained under Chapter 11, Water Code, that has a storage capacity of at least 5,000 acre-feet at the impoundment's normal operating level, Seller hereby notifies Buyer: "The water level of the impoundment of water adjoining the Property fluctuates for various reasons, including as a result of: (1) an entity lawfully exercising its right to use the water stored in the impoundment; or(2) drought or flood conditions." I. LICENSE HOLDER DISCLOSURE: Texas law requires a real estate license holder who is a party to a transaction or acting on behalf of a spouse, parent, child, business entity in which the license holder owns more than 10%, or a trust for which the license holder acts as a trustee or of which the license holder or the license holder's spouse, parent or child is a beneficiary, to notify the other party in writing before entering into a contract of sale. Disclose if applicable: 26. CONTRACT AS OFFER: The execution of this contract by the first party constitutes an offer to buy or sell the Property. Unless the other party accepts the offer by 5:00 p.m., in the time zone in which the Property is located, on December 4, 2020 , the offer will lapse and become null and void. ss (TXR-1802)4-1-18 Initialed for Identification by Seller l , and BuyVk Page 12 of 14 Produced with Lone Nblf Transactions(zipFonn Edition)231 Shearson Cr.Cambridge,Ontario,Canada NIT 1J5 www.Iwoircom Commerce Cove • DocuSign Envelope ID:448FB3AC-1F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 • Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock,TX 78664 READ THIS CONTRACT CAREFULLY. The brokers and agents make no representation or recommendation as.to the legal sufficiency, legal effect, or tax consequences of this document or transaction. CONSULT your attorney BEFORE signing. • Seller: City of Round Rock Buyer:Rock Real Estate LLC By: By: Paul David McCartnel„-- aslysea by: By(signature): By(signature): PALM. VA+Mp Printed Name: '(,R4(6 AkQ(� Printed Name:Paul Da:V:eu•-• eFnn�Fa,.. Title: 12-11.2020 Title: 11/1/2020 By: By: By(signature): By(signature): Printed Name: Printed Name: Title: Title: • • • • (TXR-1802)4-1-18 Page 13 of 14 Produced wilt:Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada NIT 1J5 www.Iwolfcom CammereeCove- DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove.Round Rock,TX 78664 AGREEMENT BETWEEN BROKERS (use only if Paragraph 9B(1)is effective) Principal Broker agrees to pay (Cooperating Broker) a fee when the Principal Broker's fee is received. The fee to be paid to Cooperating Broker will be: $ , or ® % of the sales price, or % of the Principal Broker's fee. The title company is authorized and directed to pay Cooperating Broker from Principal Broker's fee at closing. This Agreement Between Brokers supersedes any prior offers and agreements for compensation between brokers. Principal Broker: Cooperating Broker: By: By: ATTORNEYS Sellers attorney:Stephan L.Sheets Buyer's attorney: Address:309 E Main Street Address: Round Rock TX 78664 Phone&Fax:(512)255.8877 Phone&Fax: E-mail: steve(a scrrlaw.com E-mail: Seller's attorney requests copies of documents, Buyer's attorney requests copies of documents, notices, and other information: notices, and other information: X the title company sends to Seller. ❑ the title company sends to Buyer. X Buyer sends to Seller. ❑ Seller sends to Buyer. ESCROW RECEIPT The title company acknowledges receipt of: A. the contract on this day -20./O (effective date); B. earnest money in the amount of$ in the form of on Title company: Address: By: Phone&Fax: Assigned file number(GF#): E-mail: (TXR-1802)4-1-18 Page 14 of 14 Produced with Lone wonTransactions(zipFomi Edition)231 Shearson Cr.Cambridge,Ontario,Canada NIT 1J5 www.lwoltcom CommerceCove- DocuSign Envelope ID:448FB3AC-1 F40-4DE9-ASE7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 sK,.T 1;�FT 2020060923 PLAT Total Pages; 2 �'c� • r .IPi- EXHIBIT A 0111 �Ili1� Pnli i lf it �J L P ��tWil I II i �� Ahf Gs' PLAT MAP RECORDING SHEET DEDICATOR(s): CITY OF ROUND ROCK SUBDIVISION NAME: AMENDED LOT 7 BLOCK 7 ROUND ROCK NORTH INDUSTRIAL BUSINESS PARK SECTION 5 & LOT 1 BLOCK A COMMERCE COVE PROPERTY IS DESCRIBED AS: 2.892 ACRES DAVID CURRY SURVEY ABSTRACT NO 130 SUBMITTED BY: CITY OF ROUND ROCK DIGITALLY RECORDED FILED PUBLIC RECORDS PLAT Fee: $91.00 06/10/2020 11:22 AM BMCKENZIE ror. 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IN 9 5° y Ct] n a �' ))54 �a (F i gl( j4 iby ,{�i 'a;*{, a ff€ { � ,a9tQ, :� 4 yb� 4 - I btXE.;° ! e {{ j ea 91gg zit, ire i ° II e45 1 'N p 8 a [ �a6 ➢ip , 5 a'�1 t6 t 1 n. lb%-h R .guff S� „R g ,o. s" v.. E l e ! 1 N 1 , s > �"Y1 :l y .{1 Ls 3s� a�1B Y I sq'il a�� li € £d�5 g. 6 B_ & � k' ii:� ¢ $ G j $ 1 31 .l r IT 1 's lgf l lei l 1 is 1 EL � RI i' 68tl3E399380Z-J936-OE34-L99J-969LZSHa:GI edolemQ u6ISMOG 0 0 DocuSign Envelope ID:448FB3AC-1 F40-4DE9-ASE7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881.4E3D-9E5F-208F88E3EA89 la 1 EAL1 S • COMMERCIAL CONTRACT FINANCING ADDENDUM USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®,INC.IS NOT AUTHORIZED. ®Texas Association of REALTORS%Inc.2010 ADDENDUM TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED PARTIES CONCERNING THE PROPERTY AT Commerce Cove, Round Rock, TX 78664 The portion of the Sales Price not payable in cash will be paid as follows: (Check all that apply.) X A. THIRD PARTY FINANCING: (1) The contract is contingent upon Buyer obtaining a third party loan(s) secured by the Property in the amount of$ 480,000.00 for not less than 20 years with the initial interest rate not to exceed 5.000 % per annum and payments calculated on an amortization period of no less than 20 years. (2) Buyer will apply for the third party loan(s) described in Paragraph A(1) promptly after the effective date. If Buyer cannot obtain the loan(s), Buyer may give Seller written notice within 45 days after the effective date and the contract will terminate and the earnest money, less any independent consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer. If Buyer does not give such notice within the time required, this contract will no longer be subject to the contingency described in this Paragraph A. (3) Each note to be executed under this addendum is to be secured by vendor's and deed of trust liens. B. ASSUMPTION: (1) Buyer will assume the unpaid principal balance of the existing promissory note secured by the Property payable to dated which balance at closing will be $ (2) Buyer's initial payment will be the first payment due after closing. Buyer's assumption of the existing note includes all obligations imposed by the deed of trust securing the note, recorded in (recording reference) in the real property records of the county where the Property is located. (3) If the unpaid principal balance of the assumed loan as of the date of closing varies from the loan balance stated in Paragraph B(1), the cash payable at closing will be adjusted by the net amount of any variance; provided, if the total principal balance of the assumed loan varies in an amount greater than$ at closing, either party may terminate this contract and the earnest money will be refunded to Buyer unless either party elects to eliminate the excess in the variance by an appropriate adjustment at closing. (4) Buyer may terminate the contract and the eamest money, less any independent consideration under Paragraph 7B(1) of the contract,will be refunded to Buyer if the note holder on assumption requires: (a) Buyer to pay an assumption fee in excess of$ and Seller declines to pay such excess; (b) an increase in the interest rate to more than %; or (c) any other modification of the loan documents. (5) Unless Seller is released of liability on any assumed note, Seller requires a vendor's lien and deed of trust to secure assumption, which will be automatically released on execution and delivery of a release by the note holder. r1D�B (TXR-1931) 1-26-10 Initialed for Identification by Seller. �( o ,and Buyer r I/& Page 1 of 4 Dan Qulek 1000 North lR-JS Suite ARound Rock TX Mal Plione:513R55d0ea nu: Commerce Cow.. Bn,.t Campbell Produced with Lone Wolf Transaction(zipForm Edition)231 Shearson Cr.Cambridge,Ontario.Canada NIT 1J5 www.Iwotl.com DocuSign Envelope ID:448FB3AC-1 F40-4DE9-ASE7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F8B1-4E3D-9E5F-208F88E3EA89 Commercial Contract Financing Addendum concerning Commerce Cove, Round Rock, TX 78664 (6) If assumption approval is required by the note holder, Buyer will apply for assumption approval within days after the effective date of the contract and will make every reasonable effort to obtain assumption approval. If Buyer cannot obtain assumption approval, Buyer may give Seller written notice within days after the effective date and the contract will terminate and the earnest money, less any independent consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer. If Buyer does not give such notice within the time required and Buyer does not close because Buyer is not able to assume the existing note, Buyer will be in default, C. SELLER FINANCING: (1) At closing, Buyer will execute and deliver a promissory note (the note) from Buyer to Seller in the amount of$ , bearing % interest per annum. Matured, unpaid amounts will bear interest at the maximum rate of interest allowed by law. (2) The note will be payable as follows: (a) In one payment, due after the date of the note,with interest payable: U(i) monthly (ii) ❑- (b) In installments of $ including interest ❑plus interest beginning after the date of the note and continuing at _ monthly U intervals thereafter for when the entire balance of the note will be due and payable. ❑- (c) Interest only in monthly ❑ installments for the first years and thereafter in installments of$ U including interest ❑plus interest beginning after the date of the note and continuing at _monthly intervals thereafter for when the entire balance of the note will be due and payable. (3) The note will be secured by vendor's and deed of trust liens and an assignment of leases payable at the placed designated by Seller. (4) The note will provide that if Buyer fails to timely pay an installment within 10 days after the installment is due, Buyer will pay a late fee equal to 5% of the installment not paid. (5) The note will will not provide for liability (personal or corporate) against the maker in the event of default. (6) The note may be prepaid in whole or in part at any time without penalty. Any prepayments are to be applied to the payment of the installments of principal last maturing and interest will immediately cease on the prepaid principal. (7) The lien securing payment of the note will be inferior to any lien securing any superior note described in this addendum. If an owner's policy of title insurance is furnished, Buyer, at Buyer's expense, will furnish Seller with a mortgagee title policy in the amount of the note at closing. (8) If all or any part of the Property is sold or conveyed without Seller's prior written consent, Seller, at Seller's option, may declare the outstanding principal balance of the note, plus accrued interest, immediately due and payable. Any of the following is not a sale or conveyance of the Property: (a) the creation of a subordinate lien; (b) a sale under a subordinate lien; (c) a deed under threat or order of condemnation; (d) a conveyance solely between the parties; or (e) the passage of title by reason of death of a maker or operation o?—ns (D(R-1931)1-26-10 Initialed for Identification by Seller: u , ,and Buyer f RA, Page 2 of 4 • Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr,Cambridge,Ontario,Canada NIT IJ5 www.lwoll.com Commerce Cove- DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract Financing Addendum concerning Commerce Cove. Round Rock. TX 78664 (9) Deposits for Taxes and Insurance: Together with the principal and interest installments, Buyer _will _will not deposit with Seller a pro rata part of the estimated annual ad valorem taxes on.the Property and a pro rata part of the estimated annual insurance premiums for the improvements on the Property. (a) If Buyer deposits taxes and insurance deposits with Seller, Buyer agrees that the taxes and insurance deposits are only estimates and may be insufficient to pay total taxes and insurance premiums. Buyer agrees to pay any deficiency within 30 days after Seller notifies Buyer of any deficiency. Buyer's failure to pay the deficiency is a default under the deed of trust. (b) If any superior lien holder on the Property collects payments for taxes and insurance, any requirement to deposit taxes and insurance deposits with Seller under this addendum is inoperative so long as payments are being made to the superior lien holder. (10) Any event that constitutes a default under any superior lien constitutes a default under the deed of trust securing the note. (11) The note will include a provision for reasonable attorney's fees for any collection action. (12) Unless the parties agree otherwise, the form of the note and loan documents will be as found in the current edition of the State Bar of Texas Real Estate Forms Manual without any additional clauses. D. CREDIT APPROVAL ON ASSUMPTION OR SELLER FINANCING: (1) To establish Buyer's creditworthiness for assumption approval or seller financing, Buyer will deliver to Seller the following information (Buyer's documentation)within days after the effective date of the contract: (a) verification of employment, including salary; (b) verification of funds on deposit in financial institutions; (c) current financial statement; (d) credit report; (e) tax returns for the following years • (f) (2) If Buyer does not timely deliver Buyer's documentation or Seller determines, in Seller's sole discretion, that Buyer's creditworthiness is not acceptable, Seller may terminate the contract by giving written notice to Buyer not later than days after the date Buyer must deliver Buyer's documentation under Paragraph D(1) and the earnest money, less any independent consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer. If Seller does not timely terminate the contract under this paragraph, Seller will be deemed to have accepted Buyer's credit. E. SPECIAL PROVISIONS: r CDs os (TXR-1931) 1-26-10 Initialed for Identification by Seller: I , and Buyer f 12 - Page 3 of 4 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada NIT ijo www.lwort.com CommerceCave- DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F68E3EA69 • Commercial Contract Financing Addendum concerning Commerce Cove. Round Rock.TX 78664 Seller:City of Round Rock Buyer:Rock Real Estate LLC Craig Morgan By: oo.aea sa av: By: Paul David McCartne —Doeseignedby: By (signature): Cvzi 1/4011" By(signature): Paul PAtitt Auto/huh? a,. 9a, Printed Name: Craig Morgan Printed Name: Paul D:`_._10333979FA49413... Title: Mayor Title: 17/i/2020 By: By: • • By (signature): By(signature): Printed Name: Printed Name: Title: Title: • (TXR-1931) 1-26-10 Page 4 of 4 Produced with Lone Wolf Transacfions(zlpFonn Edition)231 Shearson Cr.Cambridge.Ontario,Canada NUT 1JE www.iwo2com CommerceCare- DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881.4E3D-9E5F-208F88E3EA89 • DocuSign Envelope ID:BABAEBB8-6F9B-4F39-8195-19178DE1 D289 • UTILITY DISTRICT NOTICE for UPPER BRUSHY CREEK WATER CONTROL AND IMPROVEMENT DISTRICT • formerly known as BRUSHY CREEK WATER CONTROL AND IMPROVEMENT DISTRICT#1A OF WILLIAMSON AND MILAM COUNTIES Seller: City of Round Rock Purchaser: Rock Real Estate LLC The real property,described below,that you are about to purchase is located in the Upper Brushy Creek Water Control and Improvement District (District) formerly known as Brushy Creek Water Control and Improvement District of Williamson and Milam Counties. The District has taxing authority separate from any other taxing authority and may,subject to voter approval, issue an unlimited amount of bonds and levy an unlimited rate of tax in payment of such bonds. As of this date,the rate of taxes levied,by the District on real property located in the District is $0.02 on each$100 of assessed valuation. The total amount of bonds,excluding refunding bonds and any bonds or any portion of bonds issued that are payable solely from revenues received or expected to be received under a contract with a governmental entity, approved by the voters and which have been or may, at this date, be issued is $-0-, and the aggregate initial principal amounts of all bonds issued for one or more of the specified facilities of the district and payable in whole or in part from property taxes is$-0-. The purpose of this District is to provide drainage and flood control facilities and services within the District from property taxes and/or through the issuance of bonds payable In whole or in part from property taxes. The cost of these facilities is not included in the purchase price of your property,and these facilities are owned or to be owned by the District. The legal description of the property you are acquiring is as follows: 12/22/2020 (Date) Signature of Seller ro—De Utility District Notice Page 1 of 2 �� Revised February 25, 2019 P'/IA- DocuSign Envelope ID:448FB3AC-1F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 DowSign Envelope ID:BABAEBB8-6F9B-4F39-8195-19178DE10289 PURCHASER IS ADVISED THATTHE INFORMATION SHOWN ON THIS FORM IS SUBJECTTO CHANGE BY THE DISTRICT AT ANY TIME. THE DISTRICT ROUTINELY ESTABLISHES TAX RATES DURING THE MONTHS OF SEPTEMBER THROUGH DECEMBER OF EACH YEAR, EFFECTIVE FOR THE YEAR IN WHICH THE TAX RATES ARE APPROVED BY THE DISTRICT. PURCHASER IS ADVISED TO CONTACT THE DISTRICT TO DETERMINE THE STATUS OF ANY CURRENT OR PROPOSED CHANGES TO THE INFORMATION SHOWN ON THIS FORM. Purchaser is advised that the real property may or may not be within an inundation easement, or upstream or downstream, of a District-owned flood control structure. For further information you are strongly encouraged to contact the District through its website at www.upperbrushycree kwci d.o rg. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or prior to execution of a binding contract for the purchase of the real property described in such notice or at closing of purchase of the real property. 11/10/2020 (Date) Oocunos by: YAµ, VO.Wd, rwLlg bttht 10632C70FM903... Signature of Purchaser STATE OF TEXAS • • § § COUNTY OF WILLIAMSON § This instrument was acknowledged before me on this the day of by. Notary Public,State of Texas APPROVED AS TO LEGALITY: AFTER RECORDING RETURN TO: Charles Crossfield Sheets&Crossfield,P.C. Attorneys at Law Purchaser Address 309 East Main St. Round Rock,Texas 78664 City,State Zip er-09 PP114- Utility District Notice Page 2 of 2 . Uu Revised February 25, 2019 . DocuSign Envelope ID:448FB3AC-1F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-FBB1-4E3D-9E5F-208F88E3EA89 tga TEXAS : EALTOS INTERMEDIARY RELATIONSHIP NOTICE USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®,INC.IS NOT AUTHORIZED. i ®Texas Association of REALTORS®,Inc.2006 To: City of Round Rock (Seller or Landlord) and • Rock Real Estate LLC ; (Prospect) From: Don Quick&Associates,Inc. (Broker's Firm) Commerce Cove Re: Round Rock,TX 78664 ' (Property) Date: November 24,2020 A. Under this notice, "owner" means the seller or landlord of the Property and "prospect" means the above-named prospective buyer or tenant for the Property. B. Broker's firm represents the owner under a listing agreement and also represents the prospect under a buyer/tenant representation agreement. C. In the written listing agreement and the written buyer/tenant representation agreement, both the owner and the prospect previously authorized Broker to act as an intermediary if a prospect who Broker represents desires to buy or lease a property that is listed by the Broker. When the prospect makes an offer to purchase or lease the Property, Broker will act in accordance with the authorizations granted in the listing agreement and in the buyer/tenant representation agreement. D. Broker will [will not appoint licensed associates to communicate with, carry out instructions of; and provide opinions and advice during negotiations to each party. If Broker makes such appointments, Broker appoints: Brent Campbell to the owner; and Ryan Beardmore to the prospect. E. By acknowledging receipt of this notice, the undersigned parties reaffirm their consent for broker to act as an intermediary. F. Additional information: (Disclose material information related to Brokers relationship to the parties, such as personal relationships or prior or contemplated business relationships.) • The undersigned acknowledge receipt of this notice �DocuSigned by: 12/22/2020 1/2020 Fri kor P v �. m.f Seller or Landlord Craig Morgan Date Prospect `10e22craF0.404F3... Date City of Round Rock Rock Real Estate LLC Seller or Landlord Date Prospect Date (TXR-1409) 1-7-04 Page 1 of 1 Don Quick 1000 North 114-35 Suite A Round Rack TX 706a1 Phone:512.255.000 Fax Cao.mttae Cove' Brent Campbell Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario.Canada NIT 1J5 www.Iwoitcom DocuSign Envelope ID:448FB3AC-1 F40-4DE9-A8E7-7FE79A3FA691 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 DocuSign Envelope ID:BABAEBBB-6F9B-4F39-8195-191780E1D289 11/2/2015. (� Information About Brokerage Services Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants,sellers and landlords. TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities,including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. • A BROKER'S MINIMUM DUTIES REQUIRED BY LAW(A client is the person or party that the broker represents): • Put the interests of the client above all others,including the broker's own interests; • Inform the client of any material Information about the property or transaction received by the broker; • Answer the clients questions and present any offer to or counter-offer from the client and • Treat all parties to a real estate transaction honestly and fairly. 3 A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: • AS AGENT FOR OWNER(SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or properly management agreement. An owner's agent must perform the broker's minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer's agent AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenants agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the brokers minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller's agent AS AGENT FOR BOTH • INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print,set forth the brokers obligations as an intermediary.A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer)to communicate with,provide opinions and advice to,and carry out the instructions of each party to the transaction. • Must not,unless specifically authorized in writing to do so by the party,disclose: o that the owner will accept a price less than the written asking price; • o that the buyer/tenant will pay a price greater than the price submitted in a written offer;and o any confidential information or any other information that a party specifically Instructs the broker in writing not to disclose,unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer.A subagent can assist the buyer but does not represent the buyer and must place the Interests of the owner first. TO AVOID DISPUTES,ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The brokers duties and responsibilities to you,and your obligations under the representation agreement • Who will pay the broker for services provided to you,when payment will be made and how the payment will be calculated. • LICENSE HOLDER CONTACT INFORMATION:This notice is being provided for information purposes. It does not create an obligation for you to use the broker's services.Please acknowledge receipt of this notice below and retain a copy for your records. Don Quick&Associates,Inc. 347889 darren(e?donquick.com (512)255-3000 Licensed Broker Broker Firm Name or License No. Email Phone Primary Assumed Business Name Darren Quick 443913 darrent donquick.com (512)514.1820 Designated Broker of Firm License No. Email Phone Darren Quick 443913 darren(7a,donquick-com (512)814-1820 Licensed Supervisor of Sales Agent/ License No. Email Phone Associate • Ryan Beardmore ,,—os 670855 Ds ryan(a?donquick.com (512)8141824 Sales AgentAssociate's Name license No V g5�11/1020 Phone r—DB r/Buyer/Tenant/Seller/Landlor s Date pit Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov TXR-2501 TABS 1-0 Date Don Quick,I000Norlb III-35 Sidle A Round Rock DC 78651 Phone:512.255.3000 Fax: 1503Bnnditave- BrenlCempbell Produced with Lone Waif Treneedlons(zipFmm E6ton)231 Shearson Cr.Cambridge,Onledo.Canada NIT'JS wnw.lwoI,eorn DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Wift tag L COMMERCIAL CONTRACT - UNIMPROVED PROPERTY USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®,INC.IS NOT AUTHORIZED. ©Texas Association of REALTORS®,Inc.2018 1. PARTIES: Seller agrees to sell and convey to Buyer the Property described in Paragraph 2. Buyer agrees to buy the Property from Seller for the sales price stated in Paragraph 3. The parties to this contract are: Seller: City of Round Rock Address: 221 E Main Street, Round Rock, TX 78664 Phone: E-mail: Fax: Other: Buyer: Rock Real Estate LLC Address: Phone: (512)771-5085 E-mail: drrock@rockchiro.com Fax: Other: 2. PROPERTY: A. "Property" means that real property situated in Williamson County, Texas at Commerce Cove, Round Rock, TX 78664 (address) and that is legally described on the attached Exhibit A or as follows: B. Seller will sell and convey the Property together with: (1) all rights, privileges, and appurtenances pertaining to the Property, including Seller's right, title, and interest in any minerals, utilities, adjacent streets, alleys, strips, gores, and rights-of-way; (2) Seller's interest in all leases, rents, and security deposits for all or part of the Property; and (3) Seller's interest in all licenses and permits related to the Property. (Describe any exceptions, reservations or restrictions in Paragraph 12 or an addendum. P g P ) (If mineral rights are to be reserved an appropriate addendum should be attached.) 3. SALES PRICE: A. At or before closing, Buyer will pay the following sales price for the Property: (1) Cash portion payable by Buyer at closing . . . . . . . . . . . . . . . . . . . . . . . . $ 120,000.00 (2) Sum of all financing described in Paragraph 4 . . . . . . . . . . . . . . . . . . . . $ 480,000.00 (3) Sales price (sum of 3A(1) and 3A(2)) . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 600,000.00 D DS (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy r�� Page 1 of 14 Don Quick,1000 North IH-35 Suite A Round Rack TX 78681 Phone:5 Fax: Commerce Cove- Brent Campbell Produced with Lone Wolf Transactions(zipForrn Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1,15 www.lwolf.com R-20 20-o3no DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock.TX 78664 B. Adjustment to Sales Price: (Check(1) or(2) only.) ® (1) The sales price will not be adjusted based on a survey. ❑ (2) The sales price will be adjusted based on the latest survey obtained under Paragraph 6B. (a) The sales price is calculated on the basis of$ per: ❑ (i) square foot of❑total area❑net area. (ii) acre of❑total area❑net area. (b) "Total area" means all land area within the perimeter boundaries of the Property. "Net area" means total area less any area of the Property within: (i) public roadways; (ii) rights-of-way and easements other than those that directly provide utility services to the Property; and ❑ (iii) (c) If the sales price is adjusted by more than % of the stated sales price, either party may terminate this contract by providing written notice to the other party within days after the terminating party receives the survey. If neither party terminates this contract or if the variance is less than the stated percentage, the adjustment to the sales price will be made to the cash portion of the sales price payable by Buyer. 4. FINANCING: Buyer will finance the portion of the sales price under Paragraph 3A(2) as follows: ® A. Third Party Financing: One or more third party loans in the total amount of$480,000.00 This contract: ❑ (1) is not contingent upon Buyer obtaining third party financing. X (2) is contingent upon Buyer obtaining third party financing in accordance with the attached Commercial Contract Financing Addendum (TXR-1931). ❑ B. Assumption: In accordance with the attached Commercial Contract Financing Addendum (TXR-1931), Buyer will assume the existing promissory note secured by the Property, which balance at closing will be $ ❑ C. Seller Financing: The delivery of a promissory note and deed of trust to Seller under the terms of the attached Commercial Contract Financing Addendum (TXR-1931) in the amount of 5. EARNEST MONEY: A. Not later than 3 days after the effective date, Buyer must deposit $ $5,000.00 as earnest money with Independence Title (title company) at 203 W Main St, Suite A, Pflugerville, TX 78660 (address) Connie Wooster (closer). If Buyer fails to timely deposit the earnest money, Seller may terminate this contract or exercise any of Seller's other remedies under Paragraph 15 by providing written notice to Buyer before Buyer deposits the earnest money. B. Buyer will deposit an additional amount of$ with the title company to be made part of the earnest money on or before: ❑ (i) days after Buyer's right to terminate under Paragraph 7B expires; or ❑ (ii) Buyer will be in default if Buyer fails to deposit the additional amount required by this Paragraph 5B within 3 days after Seller notifies Buyer that Buyer has not timely deposited the additional amount. C. Buyer may instruct the title company to deposit the earnest money in an interest-bearing account at a federally insured financial institution and to credit any interest to B pos (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy r Page 2 of 14 Produced with Lone Wolf Transactions(zipFonn Edition)231 Shearson Cr.Cambridge,Ontario,Cai www.Iwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove, Round Rock,TX 78664 6. TITLE POLICY AND SURVEY: A. Title Policy: (1) Seller, at Seller's expense, will furnish Buyer an Owner's Policy of Title Insurance (the title policy) issued by any underwriter of the title company in the amount of the sales price, dated at or after closing, insuring Buyer against loss under the title policy, subject only to: (a) those title exceptions permitted by this contract or as may be approved by Buyer in writing; and (b) the standard printed exceptions contained in the promulgated form of title policy unless this contract provides otherwise. (2) The standard printed exception as to discrepancies, conflicts, or shortages in area and boundary lines, or any encroachments or protrusions, or any overlapping improvements: ❑X (a) will not be amended or deleted from the title policy. (b) will be amended to read "shortages in areas" at the expense of❑Buyer❑Seller. (3) Within 15 days after the effective date, Seller will furnish Buyer a commitment for title insurance (the commitment) including legible copies of recorded documents evidencing title exceptions. Seller authorizes the title company to deliver the commitment and related documents to Buyer at Buyer's address. B. Survey: Within 15 days after the effective date: ❑ (1) Buyer will obtain a survey of the Property at Buyer's expense and deliver a copy of the survey to Seller. The survey must be made in accordance with the: (i) ALTA/NSPS Land Title Survey standards, or (ii) Texas Society of Professional Surveyors' standards for a Category 1A survey under the appropriate condition. Seller will reimburse Buyer (insert amount) of the cost of the survey at closing, if closing occurs. ❑ (2) Seller, at Seller's expense, will furnish Buyer a survey of the Property dated after the effective date. The survey must be made in accordance with the: (i) ALTA/NSPS Land Title Survey standards, or (ii) Texas Society of Professional Surveyors' standards for a Category 1A survey under the appropriate condition. ® (3) Seller will deliver to Buyer and the title company a true and correct copy of Seller's most recent survey of the Property along with an affidavit required by the title company for approval of the existing survey. If the existing survey is not acceptable to the title company, ® Seller ❑ Buyer (updating party), will, at the updating party's expense, obtain a new or updated survey acceptable to the title company and deliver the acceptable survey to the other party and the title company within 20 days after the title company notifies the parties that the existing survey is not acceptable to the title company. The closing date will be extended daily up to 20 days if necessary for the updating party to deliver an acceptable survey within the time required. The other party will reimburse the updating party None (insert amount or percentage) of the cost of the new or updated survey at closing, if closing occurs. C. Buyer's Objections to the Commitment and Survey: (1) Within 5 days after Buyer receives the last of the commitment, copies of the documents evidencing the title exceptions, and any required survey, Buyer may object in writing to matters disclosed in the items if: (a) the matters disclosed are a restriction upon the Property or constitute a defect or encumbrance to title other than those permitted by this contract or liens that Seller will satisfy at closing or Buyer will assume at closing; or(b) the items show that any part of the Property lies in a special flood hazard area (an "A" or W" zone as defined by FEMA). If the commitment or survey is revised or any new document evidencing a title exception is delivered, Buyer may object to any new matter revealed in such revision or new document. Buyer's objection must be made within the same number of days stated in this paragraph, DS ng when the revision or new (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy Pvk Page 3 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada Ni i ijo www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 document is delivered to Buyer. If Paragraph 6B(1) applies, Buyer is deemed to receive the survey on the earlier of: (i) the date of Buyer's actual receipt of the survey; or (ii) of the deadline specified in Paragraph 6B. (2) Seller may, but is not obligated to, cure Buyer's timely objections within 15 days after Seller receives the objections. The closing date will be extended as necessary to provide such time to cure the objections. If Seller fails to cure the objections by the time required, Buyer may terminate this contract by providing written notice to Seller within 5 days after the time by which Seller must cure the objections. If Buyer terminates, the earnest money, less any independent consideration under Paragraph 7B(1), will be refunded to Buyer. (3) Buyer's failure to timely object or terminate under this Paragraph 6C is a waiver of Buyer's right to object except that Buyer will not waive the requirements in Schedule C of the commitment. 7. PROPERTY CONDITION: A. Present Condition: Buyer accepts the Property in its present condition except that Seller, at Seller's expense, will complete the following before closing: Buyer accepts property As-is, Where-is. B. Feasibility Period: Buyer may terminate this contract for any reason within 45 days after the effective date (feasibility period) by providing Seller written notice of termination. (1) Independent Consideration. (Check only one box and insert amounts.) X❑ (a) If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer less $ 100.00 that Seller will retain as independent consideration for Buyer's unrestricted right to terminate. Buyer has tendered the independent consideration to Seller upon payment of the amount specified in Paragraph 5A to the title company. The independent consideration is to be credited to the sales price only upon closing of the sale. If no dollar amount is stated in this Paragraph 7B(1) or if Buyer fails to deposit the earnest money. Buyer will not have the right to terminate under this Paragraph 7B. ❑ (b) Not later than 3 days after the effective date, Buyer must pay Seller $ as independent consideration for Buyer's right to terminate by tendering such amount to Seller or Seller's agent. If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer and Seller will retain the independent consideration. The independent consideration will be credited to the sales price only upon closing of the sale. If no dollar amount is stated in this Paragraph 7B(2) or if Buyer fails to pay the independent consideration, Buyer will not have the right to terminate under this Paragraph 7B. (2) Feasibility Period Extension: Prior to the expiration of the initial feasibility period, Buyer may extend the feasibility period for a single period of an additional 30 days by depositing additional earnest money in the amount of$500.00 with the title company. If no dollar amount is stated in this Paragraph or if Buyer fails to timely deposit the additional earnest money, the extension of the feasibility period will not be effective. C. Inspections, Studies. or Assessments: (1) During the feasibility period, Buyer, at Buyer's expense, may complete or cause to be completed any and all inspections, studies, or assessments of the Property (including all improvements and fixtures) desired by Buyer. pDS (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy r Page 4 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1,15 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 (2) Buyer must: (a) employ only trained and qualified inspectors and assessors; (b) notify Seller, in advance, of when the inspectors or assessors will be on the Property; (c) abide by any reasonable entry rules or requirements of Seller; (d) not interfere with existing operations or occupants of the Property; and (e) restore the Property to its original condition if altered due to inspections, studies, or assessments that Buyer completes or causes to be completed. (3) Except for those matters that arise from the negligence of Seller or Seller's agents, Buyer is responsible. for any claim, liability, encumbrance, cause of action, and expense resulting from Buyer's inspections, studies, or assessments, including any property damage or personal injury. Buyer will indemnify, hold harmless, and defend Seller and Seller's agents against any claim involving a matter for which Buyer is responsible under this paragraph. This paragraph survives termination of this contract. D. Property Information: (1) Delivery of Property Information: Within 16 days after the effective date, Seller will deliver to Buyer: (Check all that apply.) ❑ (a) copies of all current leases, including any mineral leases, pertaining to the Property, including any modifications, supplements, or amendments to the leases; ❑ (b) copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing; ® (c) copies of all previous environmental assessments, geotechnical reports, studies, or analyses made on or relating to the Property; (d) copies property tax statements for the Property for the previous 2 calendar years; X (e) plats of the Property; (f) copies of current utility capacity letters from the Property's water and sewer service provider; and ® (g) In regard to 7.D.(1) checked items, Seller will deliver checked items that Seller has in Seller's possession. (2) Return of Property Information: If this contract terminates for any reason, Buyer will, not later than 10 days after the termination date: (Check all that apply.) ❑ (a) return to Seller all those items described in Paragraph 7D(1) that Seller delivered to Buyer in other than an electronic format and all copies that Buyer made of those items; ® (b) delete or destroy all electronic versions of those items described in Paragraph 7D(1) that Seller delivered to Buyer or Buyer copied in any format; and ❑ (c) deliver to Seller copies of all inspection and assessment reports related to the Property that Buyer completed or caused to be completed. This Paragraph 7D(2) survives termination of this contract. E. Contracts Affecting Operations: Until closing, Seller: (1) will operate the Property in the same manner as on the effective date under reasonably prudent business standards; and (2) will not transfer or dispose of any part of the Property, any interest or right in the Property, or any of the personal property or other items described in Paragraph 2B or sold under this contract. After the feasibility period ends, Seller may not enter into, amend, or terminate any other contract that affects the operations of the Property without Buyer's written approval. 8. LEASES: A. Each written lease Seller is to assign to Buyer under this contract must be in full force and effect according to its terms. Seller may not enter into any new lease, fail to comply with any existing lease, or make any amendment or modification to any existing lease With os Player's written consent. Seller (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy iph Page 5 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1 11Jb www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 must disclose, in writing, if any of the following exist at the time Seller provides the leases to the Buyer or subsequently occur before closing: (1) any failure by Seller to comply with Seller's obligations under the leases; (2) any circumstances under any lease that entitle the tenant to terminate the lease or seek any offsets or damages; (3) any advance sums paid by a tenant under any lease; (4) any concessions, bonuses, free rents, rebates, brokerage commissions, or other matters that affect any lease; and (5) any amounts payable under the leases that have been assigned or encumbered, except as security for loan(s) assumed or taken subject to under this contract. B. Estoppel Certificates:Within days after the effective date, Seller will deliver to Buyer estoppel certificates signed not earlier than by each tenant that leases space in the Property. The estoppel certificates must include the certifications contained in the current version of TXR Form 1938 - Commercial Tenant Estoppel Certificate and any additional information requested by a third party lender providing financing under Paragraph 4 if the third party lender requests such additional information at least 10 days prior to the earliest date that Seller may deliver the signed estoppel certificates. 9. BROKERS: A. The brokers to this sale are: Principal Broker:Don Quick&Associates, Inc. Cooperating Broker: Agent: Brent Campbell I Ryan Beardmore Agent: Address: 1000 N Interstate 35 Address: Round Rock,TX 78681 Phone&Fax (512)814-1814 (512)814-1825 Phone & Fax: E-mail: brent@donquick.com ; ryan@donquick.com E-mail: License No.:347889 License No.: Principal Broker: (Check only one box) Cooperating Broker represents Buyer. ❑ represents Seller only. ❑ represents Buyer only. ® is an intermediary between Seller and Buyer. B. Fees: (Check only(1) or(2) below.) (Complete the Agreement Between Brokers on page 14 only if(1) is selected.) ❑ (1) Seller will pay Principal Broker the fee specified by separate written commission agreement between Principal Broker and Seller. Principal Broker will pay Cooperating Broker the fee specified in the Agreement Between Brokers found below the parties' signatures to this contract. ® (2) At the closing of this sale, Seller will pay: Principal Broker a total cash fee of: Cooperating Broker a total cash fee of: ® 6.000 % of the sales price. ❑❑ % of the sales price. The cash fees will be paid in Williamson County, Texas. Seller authorizes the title company to pay the brokers from the Seller's proceedcph_ oS 1g. (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy Page 6 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 NOTICE. Chapter 62, Texas Property Code, authorizes a broker to secure an earned commission with a lien against the Property. C. The parties may not amend this Paragraph 9 without the written consent of the brokers affected by the amendment. 10. CLOSING: A. The date of the closing of the sale (closing date)will be on or before the later of: (1) I 30 days after the expiration of the feasibility period. (specific date). (2) 7 days after objections made under Paragraph 6C have been cured or waived. B. If either party fails to close by the closing date, the non-defaulting party may exercise the remedies in Paragraph 15. C. At closing, Seller will execute and deliver, at Seller's expense, a ❑general ®special warranty deed. The deed must include a vendor's lien if any part of the sales price is financed. The deed must convey good and indefeasible title to the Property and show no exceptions other than those permitted under Paragraph 6 or other provisions of this contract. Seller must convey the Property: (1) with no liens, assessments, or other security interests against the Property which will not be satisfied out of the sales price, unless securing loans Buyer assumes; (2) without any assumed loans in default; and (3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or trespassers except tenants under the written leases assigned to Buyer under this contract. D. At closing, Seller, at Seller's expense, will also deliver to Buyer: (1) tax statements showing no delinquent taxes on the Property; (2) an assignment of all leases to or on the Property; (3) to the extent assignable, an assignment to Buyer of any licenses and permits related to the Property; (4) evidence that the person executing this contract is legally capable and authorized to bind Seller; (5) an affidavit acceptable to the title company stating that Seller is not a foreign person or, if Seller is a foreign person, a written authorization for the title company to: (i) withhold from Seller's proceeds an amount sufficient to comply with applicable tax law; and (ii) deliver the amount to the Internal Revenue Service (IRS) together with appropriate tax forms; and (6) any notices, statements, certificates, affidavits, releases, and other documents required by this contract, the commitment, or law necessary for the closing of the sale and issuance of the title policy, all of which must be completed by Seller as necessary. E. At closing, Buyer will: (1) pay the sales price in good funds acceptable to the title company; (2) deliver evidence that the person executing this contract is legally capable and authorized to bind Buyer; (3) sign and send to each tenant in a lease for any part of the Property a written statement that: (a) acknowledges Buyer has received and is responsible for the tenant's security deposit; and (b) specifies the exact dollar amount of the security deposit; (4) sign an assumption of all leases then in effect; and (5) execute and deliver any notices, statements, certificates, or other documents required by this contract or law necessary to close the sale. F. Unless the parties agree otherwise, the closing documents will be as found in the basic forms in the current edition of the State Bar of Texas Real Estate Forms Manu• po5 ` any additional clauses. (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy r Page 7 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1,15 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 11. POSSESSION: Seller will deliver possession of the Property to Buyer upon closing and funding of this sale in its present condition with any repairs Seller is obligated to complete under this contract, ordinary wear and tear excepted. Any possession by Buyer before closing or by Seller after closing that is not authorized by a separate written lease agreement is a landlord-tenant at sufferance relationship between the parties. 12. SPECIAL PROVISIONS: The following special provisions apply and will control in the event of a conflict with other provisions of this contract. (if special provisions are contained in an Addendum, identify the Addendum here and reference the Addendum in Paragraph 22D.) 13. SALES EXPENSES: A. Seller's Expenses: Seller will pay for the following at or before closing: (1) releases of existing liens, other than those liens assumed by Buyer, including prepayment penalties and recording fees; (2) release of Seller's loan liability, if applicable; (3) tax statements or certificates; (4) preparation of the deed; (5) one-half of any escrow fee; (6) costs to record any documents to cure title objections that Seller must cure; and (7) other expenses that Seller will pay under other provisions of this contract. B. Buyer's Expenses: Buyer will pay for the following at or before closing: (1) all loan expenses and fees; (2) preparation of any deed of trust; (3) recording fees for the deed and any deed of trust; (4) premiums for flood insurance as may be required by Buyer's lender; (5) one-half of any escrow fee; (6) other expenses that Buyer will pay under other provisions of this contract. 14. PRORATIONS: A. Prorations: (1) Interest on any assumed loan, taxes, rents, and any expense reimbursements from tenants will be prorated through the closing date. (2) If the amount of ad valorem taxes for the year in which the sale closes is not available on the closing date, taxes will be prorated on the basis of taxes assessed in the previous year. If the taxes for the year in which the sale closes vary from the amount prorated at closing, the parties will adjust the prorations when the tax statements for the year in which the sale closes become available. This Paragraph 14A(2) survives closing. (3) If Buyer assumes a loan or is taking the Property subject to an existing lien, Seller will transfer all reserve deposits held by the lender for the payment of taxes, insurance premiums, and other charges to Buyer at closing and Buyer will reimburse such amounts to Seller by an appropriate adjustment at closing. B. Rollback Taxes: If Seller's use or change in use of the Property before closing results in the assessment of additional taxes, penalties, or interest (assessments) for periods before closing, the assessments will be the obligation of the Seller. If this sale or Buyer's use of the Property after closing results in additional assessments for periods before closing, the assessments will be the obligation of Buyer. This Paragraph 14B survives closing. pDS (TXR-1802)4-1-18 Initialed for Identification by Seller and Buye r Page 8 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1,15 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 C. Rent and Security Deposits: At closing, Seller will tender to Buyer all security deposits and the following advance payments received by Seller for periods after closing: prepaid expenses, advance rental payments, and other advance payments paid by tenants. Rents prorated to one party but received by the other party will be remitted by the recipient to the party to whom it was prorated within 5 days after the rent is received. This Paragraph 14C survives closing. 15. DEFAULT: A. If Buyer fails to comply with this contract, Buyer is in default and Seller, as Seller's sole remedy(ies), may terminate this contract and receive the earnest money, as liquidated damages for Buyer's failure except for any damages resulting from Buyer's inspections, studies or assessments in accordance with Paragraph 7C(3)which Seller may pursue; or (Check if applicable) ❑ enforce specific performance, or seek such other relief as may be provided by law. B. If, without fault, Seller is unable within the time allowed to deliver the estoppel certificates, survey or the commitment, Buyer may: (1) terminate this contract and receive the earnest money, less any independent consideration under Paragraph 76(1), as liquidated damages and as Buyer's sole remedy; or (2) extend the time for performance up to 15 days and the closing will be extended as necessary. C. Except as provided in Paragraph 15B, if Seller fails to comply with this contract, Seller is in default and Buyer may: (1) terminate this contract and receive the earnest money, less any independent consideration under Paragraph 713(1), as liquidated damages and as Buyer's sole remedy; or (2) enforce specific performance, or seek such other relief as may be provided by law, or both. 16. CONDEMNATION: If before closing, condemnation proceedings are commenced against any part of the Property, Buyer may: A. terminate this contract by providing written notice to Seller within 15 days after Buyer is advised of the condemnation proceedings and the earnest money, less any independent consideration paid under Paragraph 713(1), will be refunded to Buyer; or B. appear and defend in the condemnation proceedings and any award will, at Buyer's election, belong to: (1) Seller and the sales price will be reduced by the same amount; or (2) Buyer and the sales price will not be reduced. 17.ATTORNEY'S FEES: If Buyer, Seller, any broker, or the title company is a prevailing party in any legal proceeding brought under or with relation to this contract or this transaction, such party is entitled to recover from the non-prevailing parties all costs of such proceeding and reasonable attorney's fees. This Paragraph 17 survives termination of this contract. 18. ESCROW: A. At closing, the earnest money will be applied first to any cash down payment, then to Buyer's closing costs, and any excess will be refunded to Buyer. If no closing occurs, the title company may require payment of unpaid expenses incurred on behalf of the parties and a written release of liability of the title company from all parties. B. If one party makes written demand for the earnest money, the title company will give notice of the demand by providing to the other party a copy of the demand. If the title company does not receive written objection to the demand from the other party within 15 days after the date the title company sent the demand to the other party, the title company 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 the title company may pay the same to th pDS 's. (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy r Page 9 of 14 Produced with Lone Wolf Transactions(zipFonn Edition)231 Shearson Cr.Cambridge,Ontario,Ca,,..,.....,. www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 C. The title company will deduct any independent consideration under Paragraph 713(1) before disbursing any earnest money to Buyer and will pay the independent consideration to Seller. D. If the title company complies with this Paragraph 18, each party hereby releases the title company from all claims related to the disbursal of the earnest money. E. Notices under this Paragraph 18 must be sent by certified mail, return receipt requested. Notices to the title company are effective upon receipt by the title company. F. Any party who wrongfully fails or refuses to sign a release acceptable to the title company within 7 days after receipt of the request will be liable to the other party for: (i) damages; (ii) the earnest money; (iii) reasonable attorney's fees; and (iv) all costs of suit. G. ❑Seller❑Buyer intend(s) to complete this transaction as a part of an exchange of like-kind properties in accordance with Section 1031 of the Internal Revenue Code, as amended. All expenses in connection with the contemplated exchange will be paid by the exchanging party. The other party will not incur any expense or liability with respect to the exchange. The parties agree to cooperate fully and in good faith to arrange and consummate the exchange so as to comply to the maximum extent feasible with the provisions of Section 1031 of the Internal Revenue Code. The other provisions of this contract will not be affected in the event the contemplated exchange fails to occur. 19. MATERIAL FACTS: To the best of Seller's knowledge,and belief: (Check only one box.) ❑ A. Seller is not aware of any material defects to the Property except as stated in the attached Commercial Property Condition Statement(TXR-1408). ® B. Except as otherwise provided in this contract, Seller is not aware of: (1) any subsurface: structures, pits, waste, springs, or improvements; (2) any pending or threatened litigation, condemnation, or assessment affecting the Property; (3) any environmental hazards or conditions that materially affect the Property; (4) whether the Property is or has been used for the storage or disposal of hazardous materials or toxic waste, a dump site or landfill, or any underground tanks or containers; (5) whether radon, asbestos containing materials, urea-formaldehyde foam insulation, lead-based paint, toxic mold (to the extent that it adversely affects the health of ordinary occupants), or other pollutants or contaminants of any nature now exist or ever existed on the Property; (6) any wetlands, as defined by federal or state law or regulation, on the Property; (7) any threatened or endangered species or their habitat on the Property; (8) any present or past infestation of wood-destroying insects in the Property's improvements; (9) any contemplated material changes to the Property or surrounding area that would materially and detrimentally affect the ordinary use of the Property; (10)any condition on the Property that violates any law or ordinance. (Describe any exceptions to (1)-(10) in Paragraph 12 or an addendum.) 20. NOTICES: All notices between the parties under this contract must be in writing and are effective when hand-delivered, mailed by certified mail return receipt requested, or sent by facsimile transmission to the parties addresses or facsimile numbers stated in Paragraph 1. The parties will send copies of any notices to the broker representing the party to whom the notices are sent. ❑X X A. Seller also consents to receive any notices by e-mail at Seller's e-mail address stated in Paragraph 1. B. Buyer also consents to receive any notices by e-mail at Buyer's e-mail address stated in Paragraph 1. 21. DISPUTE RESOLUTION: The parties agree to negotiate in good faith in an effort to resolve any dispute related to this contract that may arise. If the dispute cannot be resolved by negotiation, the parties will submit the dispute to mediation before resorting to arbitration or litigation and will equally share the costs of a mutually acceptable mediator. This paragraph survives termination of this contract. This paragraph does not preclude a party from seeking equitable relief from a court of DS ?nt jurisdiction. (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy r p VAt Page 10 of 14 Produced with Lane Wolf Transactions(zipFonn Edition)231 Shearson Cr.Cambridge,Ontario,Caneue—i iju www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 22.AGREEMENT OF THE PARTIES: A. This contract is binding on the parties, their heirs, executors, representatives, successors, and permitted assigns. This contract is to be construed in accordance with the laws of the State of Texas. If any term or condition of this contract shall be held to be invalid or unenforceable, the remainder of this contract shall not be affected thereby. B. This contract contains the entire agreement of the parties and may not be changed except in writing. C. If this contract is executed in a number of identical counterparts, each counterpart is an original and all counterparts, collectively, constitute one agreement. D. Addenda which are part of this contract are: (Check all that apply.) (1) Property Description Exhibit identified in Paragraph 2; X (2) Commercial Contract Financing Addendum (TXR-1931); (3) Commercial Property Condition Statement(TXR-1408); (4) Commercial Contract Addendum for Special Provisions (TXR-1940); X (5) Notice to Purchaser of Real Property in a Water District(MUD); (6) Addendum for Coastal Area Property (TXR-1915); (7) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway (TXR-1916); X (8) Information About Brokerage Services (TXR-2501); Hx (9) Information About Mineral Clauses in Contract Forms (TXR-2509); and (10)TXR-1409 ; Exhibit A (Note: Counsel for Texas REALTORS@ has determined that any of the foregoing addenda which are promulgated by the Texas Real Estate Commission(TREC)or published by Texas REALTORS@ are appropriate for use with this form.) E. Buyer ®may ❑may not assign this contract. If Buyer assigns this contract, Buyer will be relieved of any future liability under this contract only if the assignee assumes, in writing, all obligations and liability of Buyer under this contract. 23. TIME: Time is of the essence in this contract. The parties require strict compliance with the times for performance. If the last day to perform under a provision of this contract falls on a Saturday, Sunday, or legal holiday, the time for performance is extended until the end of the next day which is not a Saturday, Sunday, or legal holiday. 24. EFFECTIVE DATE: The effective date of this contract for the purpose of performance of all obligations is the date the title company receipts this contract after all parties execute this contract. 25.ADDITIONAL NOTICES: A. Buyer should have an abstract covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished with or obtain a title policy. B. 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 fees of the district before final execution of this contract. C. Notice Required by §13.257, Water Code: "The real property, described below, that you are about to purchase may be located in a certificated water or sewer service area, which is authorized by law to provide water or sewer service to the properties in the certificated area. If your property is located in a certificated area there may be special costs or charges that you will be required to pay before you can receive water or sewer service. There may be a period required to construct lines or other facilities necessary to provide water or sewer service to your property. You are advised to determine if the property is in a certificated area and contact the utility service pr—i os r +n determine the cost that you (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy i Page 11 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Car,.,.-,.,, www.lwolf.com Commerce Cove- III DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 will be required to pay and the period, if any, that is required to provide water or sewer service to your property. The undersigned purchaser 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 the notice or at closing of purchase of the real property."The real property is described in Paragraph 2 of this contract. D. If the Property adjoins or shares a common boundary with the tidally influenced submerged lands of the state, §33.135 of the Texas Natural Resources Code requires a notice regarding coastal area property to be included as part of this contract (the Addendum for Coastal Area Property (7XR-1915) may be used). E. If the Property is located seaward of the Gulf Intracoastal Waterway, §61.025, Texas Natural Resources Code, requires a notice regarding the seaward location of the Property to be included as part of this contract (the Addendum for Property Located Seaward of the Gulf Intracoastal Waterway (7XR-1916) maybe used). F. If the Property is located outside the limits of a municipality, the Property may now or later be included in the extra-territorial jurisdiction (ETJ) 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 ETJ. To determine if the Property is located within a municipality's ETJ, Buyer should contact all municipalities located in the general proximity of the Property for further information. G. Brokers are not qualified to perform property inspections, surveys, engineering studies, environmental assessments, or inspections to determine compliance with zoning, governmental regulations, or laws. Buyer should seek experts to perform such services. Buyer should review local building codes, ordinances and other applicable laws to determine their effect on the Property. Selection of experts, inspectors, and repairmen is the responsibility of Buyer and not the brokers. Brokers are not qualified to determine the credit worthiness of the parties. H. NOTICE OF WATER LEVEL FLUCTUATIONS: If the Property adjoins an impoundment of water, including a reservoir or lake, constructed and maintained under Chapter 11, Water Code, that has a storage capacity of at least 5,000 acre-feet at the impoundment's normal operating level, Seller hereby notifies Buyer: "The water level of the impoundment of water adjoining the Property fluctuates for various reasons, including as a result of: (1) an entity lawfully exercising its right to use the water stored in the impoundment; or(2) drought or flood conditions." I. LICENSE HOLDER DISCLOSURE: Texas law requires a real estate license holder who is a party to a transaction or acting on behalf of a spouse, parent, child, business entity in which the license holder owns more than 10%, or a trust for which the license holder acts as a trustee or of which the license holder or the license holder's spouse, parent or child is a beneficiary, to notify the other party in writing before entering into a contract of sale. Disclose if applicable: 26. CONTRACT AS OFFER: The execution of this contract by the first party constitutes an offer to buy or sell the Property. Unless the other party accepts the offer by 5:00 p.m., in the time zone in which the Property is located, on December 4, 2020 , the offer will lapse and become null and void. D D5 (TXR-1802)4-1-18 Initialed for Identification by Seller and Buy r ik Page 12 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1,15 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 READ THIS CONTRACT CAREFULLY. The brokers and agents make no representation or recommendation as.to the legal sufficiency, legal effect, or tax consequences of this document or transaction. CONSULT your attorney BEFORE signing. Seller: City of Round Rock Buyer:Rock Real Estate LLC By: By: Paul David McCartne DocuSigned by: By(signature): By(signature): PAX4 — Printed Name: Printed Name: Paul Da—.!R111 778FA4c F3... Title: M�{q� � 12-il-2-020 Title: By: By: By(signature): By(signature): Printed Name: Printed Name: Title: Title: (TXR-1802)4-1-18 Page 13 of 14 Produced with Lone Wolf Transactions(zipFonn Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract-Unimproved Property concerning Commerce Cove,Round Rock,TX 78664 AGREEMENT BETWEEN BROKERS (use only if Paragraph 9B(1)is effective) Principal Broker agrees to pay (Cooperating Broker) a fee when the Principal Broker's fee is received. The fee to be paid to Cooperating Broker will be: $ , or • of the sales price, or • of the Principal Broker's fee. The title company is authorized and directed to pay Cooperating Broker from Principal Broker's fee at closing. This Agreement Between Brokers supersedes any prior offers and agreements for compensation between brokers. Principal Broker: Cooperating Broker: By: By: ATTORNEYS Seller's attorney:Stephan L.Sheets Buyer's attorney: Address: 309 E Main Street Address: Round Rock TX .78664 Phone&Fax:(512)255-8877 Phone&Fax: E-mail: steve Mscrriaw.com E-mail: Seller's attorney requests copies of documents, Buyer's attorney requests copies of documents, notices, and other information: notices, and other information: NX the title company sends to Seller. ❑ the title company sends to Buyer. Buyer sends to Seller. ❑ Seller sends to Buyer. ESCROW RECEIPT The title company acknowledges receipt of: A. the contract on this day (effective date); B. earnest money in the amount of$ in the form of on Title company: Address: By: Phone&Fax: Assigned file number(GF#): E-mail: (TXR-1802)4-1-18 Page 14 of 14 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 y�TK 0'P 202001530923 PLAT Total Pages: 2 C" Iil P119 1 1411, 1 1 Wlj Rill 11111 A EXHIBIT A PLAT MAP RECORDING SHEET DEDICATOR(s): CITY OF ROUND ROCK SUBDIVISION NAME: AMENDED LOT 7 BLOCK 7 ROUND ROCK NORTH INDUSTRIAL BUSINESS PARK SECTION 5 & LOT 1 BLOCK A COMMERCE COVE PROPERTY IS DESCRIBED AS: 2.892 ACRES DAVID CURRY SURVEY ABSTRACT NO 130 SUBMITTED BY: CITY OF ROUND ROCK DIGITALLY RECORDED FILED AND RECORDED OFFICIAL PUBLIC RECORDS 2020060923 PLAT Fee: $91-00 06/10/2020 11:22 AM BMCKENZIE Nancy Ister, County Clerk 1cV Williamson County, Texas DS ............. ............... nab NOTES AMENDED PLAT OF LOT 7, BLOCK 7, ROUND ROCK o DOC. # 11.1096-992-1 .w".W. 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K'XAO W.K 2*10 C0r32N A,AWV�=. 3.MaDtw 'VAL M.W A=ORILMCC W,'.R PW G.ZONN"ARD tl0,tONrW mn9W9N'tM & AW 0 VMS=A li=o ON Xt FWLXAt)"CffY Of RW#O PM-1 TcKk Msow > ve'vemZzo N Acconov"m"m PART m zww ma OROI5EL oN a-26.clO ROL=9=K V;-EMW 11LO=VLLK VMVM AWM 4 A"A=YK SnVr 134X FROPIm"LWE r 03 r.IsAw smct Sum ka DONNIE WERNER SURVEYING COMPANY L,P, IL 7-1 I'mmm LOTS W��sw�ml�amw Fm As cawn:D smu 11lW%t ROUND POCK,TEXAS M64 5)AmWzqvo mmsow-mc�SuRm=W.=7 CON-,= 228 HOUDAY ROAD 05 oo"�Vr RUM S", coo twFwIY P.rM M-'d'Irl9mvu TwE ft"m P-19351 COMFORT, TEXAS 78013 NO,30,IJA64 no VAN RW 60 PH: 830-377-2492 PA�7 U-24-1 I- :3 eft-Im,rl>m M13 MO NJ,to-rA SUR t.8VO5 V WAR�O WA5,tWAMW-0 FROV TK STATE PLANE=M*1E 5MV,N" W-W-vi WUM OF C., 'Wm KAI$cml-4 xw� FP2004-003 0 DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 aw TEXAS-REALTORS COMMERCIAL CONTRACT FINANCING ADDENDUM USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORM INC.IS NOT AUTHORIZED. ©Texas Association of REALTORSO,Inc.2010 ADDENDUM TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED PARTIES CONCERNING THE PROPERTY AT Commerce Cove, Round Rock, TX 78664 The portion of the Sales Price not payable in cash will be paid as follows: (Check all that apply.) ® A. THIRD PARTY FINANCING: (1) The contract is contingent upon Buyer obtaining a third party loan(s) secured by the Property in the amount of$ 480,000.00 for not less than 20 years with the initial interest rate not to exceed 5.000 % per annum and payments calculated on an amortization period of no less than 20 years. (2) Buyer will apply for the third party loan(s) described in Paragraph A(1) promptly after the effective date. If Buyer cannot obtain the loan(s), Buyer may give Seller written notice within 45 days after the effective date and the contract will terminate and the earnest money, less any independent consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer. If Buyer does not give such notice within the time required, this contract will no longer be subject to the contingency described in this Paragraph A. (3) Each note to be executed under this addendum is to be secured by vendor's and deed of trust liens. ❑ B. ASSUMPTION: (1) Buyer will assume the unpaid principal balance of the existing promissory note secured by the Property payable to dated which balance at closing will be $ (2) Buyer's initial payment will be the first payment due after closing. Buyer's assumption of the existing note includes all obligations imposed by the deed of trust securing the note, recorded in (recording reference) in the real property records of the county where the Property is located. (3) If the unpaid principal balance of the assumed loan as of the date of closing varies from the loan balance stated in Paragraph B(1), the cash payable at closing will be adjusted by the net amount of any variance; provided, if the total principal balance of the assumed loan varies in an amount greater than$ at closing, either party may terminate this contract and the earnest money will be refunded to Buyer unless either party elects to eliminate the excess in the variance by an appropriate adjustment at closing. (4) Buyer may terminate the contract and the earnest money, less any independent consideration under Paragraph 713(1) of the contract, will be refunded to Buyer if the note holder on assumption requires: (a) Buyer to pay an assumption fee in excess of$ and Seller declines to pay such excess; (b) an increase in the interest rate to more than %; or (c) any other modification of the loan documents. (5) Unless Seller is released of liability on any assumed note, Seller requires a vendor's lien and deed of trust to secure assumption, which will be automatically released on execution and delivery of a release by the note holder. pDS (TXR-1931) 1-26-10 Initialed for Identification by Seller: and Buye r�i Page 1 of 4 Dan Quick,1000 North IH-35 Suite A Round Rock TX 78681 Phone:512.255.300. rax: Commerce Cove- Brent Campbell Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1,15 www.lwolf.com DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract Financing Addendum concerning Commerce Cove, Round Rock, TX 78664 (6) If assumption approval is required by the note holder, Buyer will apply for assumption approval within days after the effective date of the contract and will make every reasonable effort to obtain assumption approval. If Buyer cannot obtain assumption approval, Buyer may give Seller written notice within days after the effective date and the contract will terminate and the earnest money, less any independent consideration under Paragraph 7B(1) of the contract, will be refunded to Buyer. If Buyer does not give such notice within the time required and Buyer does not close because Buyer is not able to assume the existing note, Buyer will be in default. ❑ C. SELLER FINANCING: (1) At closing, Buyer will execute and deliver a promissory note (the note) from Buyer to Seller in the amount of$ , bearing % interest per annum. Matured, unpaid amounts will bear interest at the maximum rate of interest allowed by law. (2) The note will,be payable as follows: ❑ (a) In one payment, due after the date of the note, with interest payable: (i) monthly (ii) ❑ (b) In installments of $ ❑including interest ❑plus interest beginning after the date of the note and continuing at monthly intervals thereafter for when the entire balance of the note will be due and payable. ❑ (c) Interest only in ❑monthly ❑ installments for the first years and thereafter in installments of$ including interest ❑plus interest beginning after the date of the note and continuing at ❑monthly intervals thereafter for when the entire balance of the note will be due and payable. (3) The note will be secured by vendor's and deed of trust liens and an assignment of leases payable at the placed designated by Seller. (4) The note will provide that if Buyer fails to timely pay an installment within 10 days after the installment is due, Buyer will pay a late fee equal to 5% of the installment not paid. (5) The note ❑will ❑will not provide for liability (personal or corporate) against the maker in the event of default. (6) The note may be prepaid in whole or in part at any time without penalty. Any prepayments are to be applied to the payment of the installments of principal last maturing and interest will immediately cease on the prepaid principal. (7) The lien securing payment of the note will be inferior to any lien securing any superior note described in this addendum. If an owner's policy of title insurance is furnished, Buyer, at Buyer's expense, will furnish Seller with a mortgagee title policy in the amount of the note at closing. (8) If all or any part of the Property is sold or conveyed without Seller's prior written consent, Seller, at Seller's option, may declare the outstanding principal balance of the note, plus accrued interest, immediately due and payable. Any of the following is not a sale or conveyance of the Property: (a) the creation of a subordinate lien; (b) a sale under a subordinate lien; (c) a deed under threat or order of condemnation; (d) a conveyance solely between the parties; or (e) the passage of title by reason of death of a maker or operation o'- pDS (TXR-1931)1-26-10 Initialed for Identification by Seller: and Buyer r Page 2 of 4 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada NIT 1,15 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract Financing Addendum concerning Commerce Cove, Round Rock, TX 78664 (9) Deposits for Taxes and Insurance: Together with the principal and interest installments, Buyer []will ❑will not deposit with Seller a pro rata part of the estimated annual ad valorem taxes on.the Property and a pro rata part of the estimated annual insurance premiums for the improvements on the Property. (a) If Buyer deposits taxes and insurance deposits with Seller, Buyer agrees that the taxes and insurance deposits are only estimates and may be insufficient to pay total taxes and insurance premiums. Buyer agrees to pay any deficiency within 30 days after Seller notifies Buyer of any deficiency. Buyer's failure to pay the deficiency is a default under the deed of trust. (b) If any superior lien holder on the Property collects payments for taxes and insurance, any requirement to deposit taxes and insurance deposits with Seller under this addendum is inoperative so long as payments are being made to the superior lien holder. (10) Any event that constitutes a default under any superior lien constitutes a default under the deed of trust securing the note. (11) The note will include a provision for reasonable attorney's fees for any collection action. (12) Unless the parties agree otherwise, the form of the note and loan documents will be as found in the current edition of the State Bar of Texas Real Estate Forms Manual without any additional clauses. ❑ D. CREDIT APPROVAL ON ASSUMPTION OR SELLER FINANCING: (1) To establish Buyer's creditworthiness for assumption approval or seller financing, Buyer will deliver to Seller the following information (Buyer's documentation)within days after the effective date of the contract: ❑ (a) verification of employment, including salary; (b) verification of funds on deposit in financial institutions; (c) current financial statement; (d) credit report; (e) tax returns for the following years ; (fl (2) If Buyer does not timely deliver Buyer's documentation or Seller determines, in Seller's sole discretion, that Buyer's creditworthiness is not acceptable, Seller may terminate the contract by giving written notice to Buyer not later than days after the date Buyer must deliver Buyer's documentation under Paragraph D(1) and the earnest money, less any independent consideration under Paragraph 713(1) of the contract, will be refunded to Buyer. If Seller does not timely terminate the contract under this paragraph, Seller will be deemed to have accepted Buyer's credit. ❑ E. SPECIAL PROVISIONS: DS (TXR-1931) 1-26-10 Initialed for Identification by Seller: and Buye r p At Page 3 of 4 Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T iJo www.lwoiT.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 Commercial Contract Financing Addendum concerning Commerce Cove, Round Rock, TX 78664 Seller:City of Round Rock Buyer:Rock Real Estate LLC By: By: Paul David McCartne-- Docusignedby: By (signature): By(signature).==C VaNi� �'""'"""1 Printed Name: Printed Name. Pauli_ __?D822C78FA494F3_. Title: Title: By: By: By (signature): By (signature): Printed Name: Printed Name: Title: Title: (TXR-1931) 1-26-10 Page 4 of 4 Produced with Lone Wolf Transactions(zipFonn Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T U5 www.lwolf.com Commerce Cove- DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 DocuSign Envelope ID:8ABAEBBB-6F9B-4F39-8195-19178DE1D289 UTILITY DISTRICT NOTICE for UPPER BRUSHY CREEK WATER CONTROL AND IMPROVEMENT DISTRICT formerly known as BRUSHY CREEK WATER CONTROL AND IMPROVEMENT DISTRICT#1A OF WILLIAMSON AND MILAM COUNTIES Seller: City of Round Rock Purchaser: Rock Real Estate LLC The real property,described below,that you are about to purchase is located in the Upper Brushy Creek Water Control and Improvement District (District) formerly known as Brushy Creek Water Control and Improvement District of Williamson and Milam Counties. The District has taxing authority separate from any other taxing authority and may,subject to voter approval, issue an unlimited amount of bonds and levy an unlimited rate of tax in payment of such bonds. As of this date, the rate of taxes levied.by the District on real property located in the District is $0.02 on each$100 of assessed valuation. The total amount of bonds,excluding refunding bonds and any bonds or any portion of bonds issued that are payable solely from revenues received or expected to be received under a contract with a governmental entity, approved by the voters and which have been or may, at this date, be issued is $-0-, and the aggregate initial principal amounts of all bonds issued for one or more of the specified facilities of the district and payable in whole or in part from property taxes is$-0-. The purpose of this District is to provide drainage and flood control facilities and services within the District from property taxes and/or through the issuance of bonds payable in whole or in part from property taxes. The cost of these facilities is not included in the purchase price of your property,and these facilities are owned or to be owned by the District. The legal description of the property you are acquiring is as follows: (Date) Signature of Seller p DS Utility District Notice Page 1 of 2 Revised February 25, 2019 r�� DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 DocuSign Envelope ID:8ABAEBB8-6F9B-4F39-8195-19178DE1D289 I PURCHASER IS ADVISED THATTHE INFORMATION SHOWN ON THIS FORM IS SUBJECTTO CHANGE BY THE DISTRICT AT ANY TIME. THE DISTRICT ROUTINELY ESTABLISHES TAX RATES DURING THE MONTHS OF SEPTEMBER THROUGH DECEMBER OF EACH YEAR, EFFECTIVE FOR THE YEAR IN WHICH THE TAX RATES ARE APPROVED BY THE DISTRICT. PURCHASER IS ADVISED TO CONTACT THE DISTRICT TO DETERMINE THE STATUS OF ANY CURRENT OR PROPOSED CHANGES TO THE INFORMATION SHOWN ON THIS FORM. Purchaser is advised that the real property may or may not be within an inundation easement, or upstream or downstream, of a District-owned flood control structure. For further information you are strongly encouraged to contact the District through its website at www.upperbrushycreekwcid.org. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or prior to execution of a binding contract for the purchase of the real property described in such notice or at closing of purchase of the real property. 11/10/2020 (Date) 5Doeuftned by: Pauui, " DOLLI�%OI'INwl.. Signature of Purchaser STATE OF TEXAS § COUNTY OF WILLIAMSON § This instrument was acknowledged before me on this the day of by Notary Public,State of Texas APPROVED AS TO LEGALITY: AFTER RECORDING RETURN TO: Charles Crossfield Sheets&Crossfield,P.C. j Attorneys at Law Purchaser Address 309 East Main St. Round Rock,Texas 78664 City,State Zip Ds UtilityAk District Notice Page 2 of 2 Revised February 25 2019 P� g ry , DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 mw TEXAS REALTOR. INTERMEDIARY RELATIONSHIP NOTICE USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®,INC.IS NOT AUTHORIZED. ©Texas Association of REALTORS®,Inc.2004 To: City of Round Rock (Seller or Landlord) and Rock Real Estate LLC ; (Prospect) From: Don Quick&Associates, Inc. (Broker's Firm) Commerce Cove Re: Round Rock,TX 78664 (Property) Date: November 24,2020 A. Under this notice, "owner" means the seller or landlord of the Property and "prospect" means the above-named P Y Pros P prospective buyer or tenant for the Property. B. Broker's firm represents the owner under a listing agreement and also represents the prospect under a, buyer/tenant representation agreement. C. In the written listing agreement and the written buyer/tenant representation agreement, both the owner and the prospect previously authorized Broker to act as an intermediary if a prospect who Broker represents desires to buy or lease a property that is listed by th e Broker. When the prospect makes an offer to purchase or lease the Property, Broker will act in accordance with the authorizations granted in the listing agreement and in the buyer/tenant representation agreement. D. Broker ®will []will not appoint licensed associates to communicate with, carry out instructions of; and provide opinions and advice during negotiations to each party. If Broker makes such appointments, Broker appoints: Brent Campbell to the owner; and Ryan Beardmore to the prospect. E. By acknowledging receipt of this notice, the undersigned parties reaffirm their consent for broker ;to act as an intermediary. F. Additional information: (Disclose material information related to Broker's relationship to the parties, such as personal relationships or prior or contemplated business relationships.) The undersigned acknowledge receipt of this notice I FDocuSigned by: p: V-a /1/2020 Seller or Landlord Date Prospect 1D822C78FA494F3... Date City of Round Rock Rock Real Estate LLC Seller or Landlord Date Prospect Date (TXR-1409) 1-7-04 Page 1 of 1 Dan Quick,1000 North IH-35 Suite A Round Rack TX 78681 Phone:512.255.3000 Fax: Commerce Cove- Brent Campbell Produced with Lone Wolf Transactions(zipForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada N1T 1J5 www.lwolf.com DocuSign Envelope ID:DA527696-F881-4E3D-9E5F-208F88E3EA89 DocuSign Envelope ID:8ABAEBBB-6F9B-4F39-8195-19178DE1 D289 11/2/2015. 112111 Information About Brokerage Services Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities,including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER'S MINIMUM DUTIES REQUIRED BY LAW(A client is the person or party that the broker represents): • Put the interests of the client above all others,including the broker's own interests; • Inform the client of any material information about the property or transaction received by the broker; Answer the client's questions and present any offer to or counter-offer from the client;and • Treat all parties to a real estate transaction honestly and fairly. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER(SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owners agent must perform the broker's minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer's agent AS AGENT FOR BUYERITENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyers agent must perform the broker's minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or sellers agent AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print,set forth the brokers obligations as an intermediary.A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties' written.consent, appoint a different license holder associated with the broker to each party, (owner and buyer)to communicate with,provide opinions and advice to,and carry out the instructions of each party to the transaction. • Must not,unless specifically authorized in writing to do so by the party,disclose: o that the owner will accept a price less than the written asking price; o that the buyer/tenant will pay a price greater than the price submitted in a written offer;and o any confidential information or any other information that a party specifically instructs the broker in writing not to disclose,unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer.A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. TO AVOID DISPUTES,ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: ° The brokers duties and responsibilities to you,and your obligations under the representation agreement. • Who will pay the broker for services provided to you,when payment will be made and how the payment will be calculated. LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the brokers services.Please acknowledge receipt of this notice below and retain a copy for your records. Don Quick&Associates,Inc. 347889 darrenCa7donguick.com (512)255-3000 Licensed Broker Broker Firm Name or License No. Email Phone Primary Assumed Business Name Darren Quick 443913 darren(aD_donguick.com (512)814-1820 Designated Broker of Finn License No. Email Phone Darren Quick 443913 darren(a_donguick.com (5121814-1820 Licensed Supervisor of Sales Agent/ License No. Email Phone Associate Ryan Beardmore os 670855 Ds ryanftdoongguick.com (512)814-1824 P Sales Agent/Associate's Name AC License No DQ 11/10E"820 Phone Ds PAC License s Date Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov TXR-2501 TABS 1-0 Date Don Quick 1000 Forth IH-35 Suite A Round Rock TX 78681 Phone:512.255.3000 Fax: 1503 Brandt Lae- Brent Campbell Produced with Lone Wolf Transactions(ripForm Edition)231 Shearson Cr.Cambridge,Ontario,Canada NIT 1J5 www.twolf.com