HomeMy WebLinkAboutPO 5874: PURCHASE OF LAND - VICINITY OF LAKE ARTHUR DRIVEinteroffice MEMORANDUM t To: Mayor, City Council, and City Manager _ From: Mark Sokolow, City Attorney ~„~ ~,~,i,{'/ Date: May 2, 2008 Subject: P. O. No. 5874; Council Meeting May 7, 2005 Attached is P. 0. No. 5874 as it 'pertains to the purchase price and sale of approximately 18 acres of land in the vicinity of, ` Lake Arthur Drive. MTS:ts " Attachment cc: Mr. Pete Steele MCPHERSON MONK HUGHES BRADLEY WIMBERLY, LLP Hassan Shomalzadeh , -. I z. po58o4_memo P. O. No. 5874. 05/02/08 is ORDINANCE NO. AN ORDINANCE AUTHORIZING THE PURCHASE PRICE AND SALE OF APPROXIMATELY 18 ACRES OF LAND IN THE VICINITY OF LAKE ARTHUR DRIVE WHEREAS,~it is deemed in the best interests of the public to authorize the sale of approximately 18.380 acres of land off Lake Arthur Drive for the purchase price of $60,000 to Hassan , Shomalzadeh, who plans to develop the approximately 18.380 acres and the adjacent 11 acres in the future as a residential area, as delineated .in the request from Hassan Shomalzadeh and as forwarded by Pete Steele, his attorney, attached hereto as Exhibit "A", and WHEREAS, the seller, Hancock, Joseph & Daniels, Inc. obtained title to the property under a Deed without Warranties from the ' PCMUD on January 12, 2000, a -copy of which .is attached hereto as Exhibit "B" and have executed an Unimproved Property Contract with Hassan Shomalzadeh, attached hereto as Exhibit "C"; and WHEREAS,_the authorization to sell the~property.requires the approval of both the United States Department of Commerce, National Oceanic and. Atmospheric Administration (NOAA) and the'City, with the net proceeds being paid to the City; and WHEREAS, as successor in interest to the PCMUD, the City is eligible to receive the net proceeds from the sale of the property to Hassan. Shomalzadeh in the amount of $54,564. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PORT'ARTHUR: z.po5874 Section 1. That the facts and opinions in the preamble are true and correct. - Section 2. That the City Council approves the sale of the approximately 18.38 acres of land off Lake Arthur Drive to Hassan Shomalzadeh, so long as the City received $54,564 in net proceeds. Section 3. That Hassan Shomalzadeh or his assignees shall on this property build residential neighborhoods comparable to the immediate surrounding areas and~will abide by any outstanding mitigation requirements, if any. Section 4. That Hassan Schomalzadeh shall sign this Resolution agreeing to the terms hereof. - Section 5. That the City Manager is herein authorized to sign the Authorization to Sell Property, attached hereto as Exhibit "D". Section 6. That a copy of the caption of this Ordinance be spread upon the Minutes of the City Council. READ, ADOPTED AND APPROVED on this day of A.D., 2008, at a Council Meeting of the City Council of the City of Port Arthur, Texas,-by the following. vote: AYES: Mayor City Council NOES: MAYOR z.pos874 ATTEST: ACTING CITY SECRETARY APPROVED AS TO FORM: ~~ ~~~~ CITY ATTORNEY APPROVED FOR ADMINISTRATION: CITY MANAGER AGREED TO: Hassan Shomalzadeh z . po58 J4 EXHIBIT I . ~.A.. Bob K. Monk Lance P. Bradley ~ s James E. Qim) Wimberley Glenn H. (Pete) Steele, Jr. ' Jill Swearingen Chatelain ze Perry R: McPherson-Of Counsel Richard D. Hughes-Of Counsel ' Justin G. Sanderson' Brandon P: Monk e Kelly J. Stewart ~ECEIVE® ApriI23, 2008 APR 2 4 2008 LEGAL DEPARTMENT National Oceanic and Atmospheric Administration Office of Oceans and Coastal Resources Management Attn: Ruth Best 1305 East-West Highway N/ORM SSMC4, Room 10412 Silver Spring, MD 20910 Mark Sokolov, City Attorney City of Port Arthur P.O. Box 1089 Port Arthur, Texas 77641 RE: Permission for Hancock, Joseph & Daniels, lnc. to sell land Gentlemen: I am representing the purchaser Hassan Shomalzadeh under a contract for the purchase of approximately 18.380 acres of land off Lake Arthur Drive in Port Arthur, Texas. The seller, Hancock, Joseph & Daniels, Inc., obtained title to the property under a Deed Without Warranties from the Park Central Municipal Utility District (PCMUD), a copy of which is attached hereto as Exhibit 1. As I understand it, the PCMUD was dissolved several years ago, and the City of Port Arthur, Texas is the successor in interest to PCMUD. The deed requires that any contract of sale must be approved in writing by the United States Department of Commerce National Oceanic and Atmospheric Administration and PCMUD, with the net sale proceeds being paid to PCMUD (actually to the City of Port Arthur as successor to PCMUD). The contract bears a gosssale price of $60,000. The value of the property is listed at $32,170 on the tax rolls: I attach to this letter as Exhibit 2 a true copy of the contract of sale, which is contingent upon the approval of NOAA and the City of Port Arthur. Attached as Exhibit 3 is a proposed consent instrument with signature spaces for NOAA and the City of Port Arthur. We aze requesting that you approve the contract of sale so-that the transaction may proceed to closing at Port Arthur Abstract and Title Company. Please return the signed instrument back to me as soon as possible. If you should have any questions or comments please do not hesitate to call me at 409-724-6644' or email me at ~steele(u~mc-law.net. Please send me your contact info upon receipt of this letter so I will know how to contact you. Thank you in advance for your cooperation in this matter. 3120 Central Mall Drive Port Arthur, Tx 77642 website: www.mc-law.net 409-724-6644 1-800-830-6785 409-724-7585 Fax 1 Board Ccr[ificd,Family.law Tags Board of Legal Specialization 2 Board CcrtiRCd: Pcrsovl Ivjury Trial Law Taas Board of Lcgal Spcciallzauon 3 Admitted to PracOCe in TX & MS 4 Board CertiOCd: Residential Rcal Esate and Cotvtnercial Rcal Estate Texis Board of Legal Specialization 5 Admi¢ed m Pnctice in TX, MS and LA 6 Admiacd to Pnttice in TX & LA ATTORNEYS A T L A W l Apri123, 2008 National Oceanic and Atmospheric Administration Mazk Sokolow, City Attorney Page 2 Sincerely yours, ` ~.f~ Pete Steele mkh Enclosures ' c: Hassan Shomalzadeh . 4506 Kandywood Lane Port Arthur, Texas 77642 Hancock, Joseph & Daniels, Inc. Tim McKenzie, President 127 Noyant Drive Little Rock, Arkansas 72223 - R l EXHIBIT ~. B.. N lT< EL r~l N7 O r~ Q N STATE OF TEXAS COUNTY Ol? JEFFERSON 4 DEID WT'THOUT WA.RRAN1"lFS The Park Cetrsz-al hiutuctpal UttJrty District, a bndp polnc~ and pol[tical sttbdiviston of the State of Tess,. organrzed and existing under Chapters 49 and 54 of the Texas Water Code {the "Grantor") for and in rnnstdera[ion of the sum of tea dollars ($10 00) and other good and valuable consideration, including those agreements set forth m that certain Real Estate Option Agreement dated AprtJ 4, 1997 {the "Agreement"}, in band paid by Hancock, Joseph & Daniels, Inc., a Texas Coruoiation (the "Grantee") the receFpt of which iz hereby aelmowledged, has ~ '. granted, sold oral conveyed and by these pmsenis does grant, sell and convey unto Grantee all of that cettain real propeny situated m Jefferson County, Texas, more fully described in Exhibit "A" attached heieto and made. a part hereof for all purposes , This conveyance is made subject to the following requirements:. r -„-- 1) All restrictions, easements; covenants, condtt3ans and "prior conveyances and reservat;ons of mineral and. royaEtres of record ~ the offrce of the County Clerk of Jefferson County, Tex, to the extent that the same are sell in effect atxi relate to ibe 1roperty; 2) All zoning Jaws, regulatrons and orditrances of municipal arxt other governmtntal authorities, rf any, but only to the extent tha€ they are in effect and relate the above 6escnbed property; , ._..3) Property taxes on the above described property for the ciirretx tar and any subsequent tax years, which arc tint yet due and payable; 4) Reservation of a right-of-way and access easement in favor. of the add ace[rt real property owned by -the Grantor constituting approzitnately twenty-two acres of land utilized by the Grantor as an equivalent ponduig srte pnrsnam to certain obligations and agreements made lay the ,Grantor with the United .States ' Department of Conunerce and tJie National Oceanic Atmospheric Association, and S) Grantee may not contract for the sale of any real property interest in, on oraut of the Property without the prior written approval of bath the United States 'Department of Carmnerre National Oceanic and Amiospheric Administration. and Exhibit "1" the Grantor, and should such approval tte.~ranted, Etten Grantee covenants that any net proceeds after pa}mtent of (t) srra deve]oprnent costs incurred by Grantee only upon the. Frapcrry and (ii) closing casts far the sate of the Property shall be gard.by Grantee EA the Grantor. An access easement: in and across the Property is reserved ttt the Grantor and to the Grantor's successors and assigns attcl ehail remain aright-of--way or easement in and across the Property, ;but may be sdong such roadways as are used try Grantee od the property Grantor excludes and excepts any warranties,. expressed or iiripiied, regarding the Property, tncludiug, without limitations, any warranties arising by common (aw or Sec€ion 5 QZ3 of the Texas Property Code or tts successors, and Grantee accepts the Property "AS IS AND WITH ALL FAULTS, IF ANY, AND WITHOUT .4~IY WARRANTY, E7iPRF.SSED OR ihIPLED AND WITHOI.tT WARRANTY AS T4 RCCESS Tfl THE PROPERTY. Grantee also accepts aay and ai( tuatenal removed from the Property pursuant to the Agreement in an "A5 IS AND WITH ALL FAULTS, IF ANY, AND WITHOUT ANY WARRANTY, EXPRESSED OR IMPLIED." Spectfics(ly, without limiting the generality of the foregoing, Grantee accepts the material wtthout any warranties as to envirorunental eouditians existing wtthin the materials or the suitability of the matenals for any parttcuiar purpose ar development use or potential To have .and to hold the Property, together wtth ail and singular the rights and appurtenances belonging m atsy way to the- Property, sub}ett to the lunitavoris, waivers of wamnty, access and other provrsivns stated atwve, to Grantee its successors and its assigns forever without warranty of arty hind. Upon possession of the Property, Grantee acknowledges rt has examined the Property as we#1 as any improvements located thereon and accepts the. Property "AS IS AND WITH ALL FAULTS, IF ANY, AND WITHOUT ANY WARRANTY, caanaaxcvxsia~ cape r EXPRFSSE[? OR IMPIdED " Grantea has &trtiter~nd previously acknowledged to Grantor that Grantee accepts the Property in tts present condition and agrees that the Property 'ss 6t for Grantee's intended use. GRAN'T'OR: Park Genital Alunicipal L'tiTity r Carter, Fresident, Board ~ rte ACCEPTID A14"D APPROVED this the ~a ~ day of -144- GRAA}TEE: Ilancack, Joseptr & I3auieis, Inc, By. , anca;k, President STATE OF TEYAS § ~. COUititi'Y OF.IEFFEIiSON § This instnutrent was acknowledged before me on the I~f`' day of. >~~ -1949, by MORRIS CARTER, President far the Park Central nicipaT U y District. adoo dA187Y G- KUSE • ~- ttY CC~Vt5.4tON EXPIRES 2-14-2(IQ2 . ~ ~6.°116SN~R~tlBJq~P~lll ~.. _ ~~~ Notary Fubl safe of Texas (IOOI)SON01!'91d9 Pace 3 faiGP~F -'~'.~~.+:f35tiu.CGnii STATE OF TEXAS § COUNTY OF JEFFERSON $ , Thts mstrumeut was actoso~vledged before me on the .~ S day of (mac ua.~ 1999, by JOE HANCOCK, President Yor i3aucocJ:, Joseph. & DanieFs c. /: ~~+p'1a._ CRRULYH L. LINK I~Fora Publ~cace of Texas NOtifY Fet+'r, S:da o(f~su ~' a ~~/ ~ lty Cemrtnss+on Exgres _ - _ AFTER RECORDINIG, RETURN TO: Mr .Joe Hancock Ttle w111DWS Aparaue4ts 7924 Wiliowood Iane Port Arlhvr, Texas 77642 , DOODSONGL129L49 ~+ ' EXIII$IT "'A" A tract or parcel of land containing 1& 38 acres of land, more or Eess, out of and a part of a 45 2d6 acres, out of and apart of Lots Numbered Scveu-and Eight (pt. of 7 & 8) to Block Number Teu_ (1©), Range "Ii" and part of Lot Number Ftve (pt. of 5) m Block Number Ten (14), Range "G" of the Lands of the Port Arthur Land Corupauy, in Jefferson County, Texas, _ as the same appears upon the map or plat thereof, of file and of record iti Vol. 1, Page 22, Map Records of Iefferson County, Texas,. said ttct being further depicted on a prelrutinaty drawing prepazed by Jahn R Hodges, Registered Public Land Surveyor No. 4583, dated June 2b, 1995. (iL~ll C~'R}~ ~l~€~tILU 2001 8115 Y3 OlaSb Pit 20010451 SR Y 4ll~KElt . JEFFERSCNL'Ol~(TY~KTEXAS EXHIBIT ••C•• PROMl1LGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) ~ D2-f3-06 UNIMPROVED PROPERTY CONTRACT NOTICE: Not For Use For GondominiumTransactions 1. PARTIES: agrees to i 2. ~. (Seder) ,See Special Provisions -, County Of -Jefferson , Texas, ICt10Wr1 aS or as described on attached exhibit together with all rights, privileges ar )ciuding but not limited to: water rights, claims, permits, strips and gores, a6on memberships (the Property}. ` A. Cash portion. of Sales. Price payable by Buyer at closing ..................................................... $_ 60.000:- 00 B. Sum of all financing described below (excluding any loan funding , fee o[ mortgage insurance premium) ........... ..........................................~............... $ -0- C. Sales Price (Sum of A and B) ........................................................................:... ....... $ 60.000. DO 4. FINANCING: The portion of Sales Price not payable in cash will be paid as follows. (Cheek applicable boxes below) [] A. TNIRD PARTY FINANCING: One or more third .:party mortgage loans in the total amount of $ (excluding any loan funding fee or mortgage Insurance premium). (1) Property Approval:.lf the Property does not satisfy the lenders' underwriting requirements for the loan(s); this contract will terminate and the eamest money wilt be refunded to Buyer. (2) Finahcing Approval: (check one box only) ` ^ (a) This contract is subject to Buyer being approved for the financing described in the attached Third Patty Financing Condition Addendum. d (b)This contract is not subject to Buyer being approved forfinancing and does not involve FNA or VA financing: ^ 8. ASSUMPTION: The assumption of the unpaid principal balance of one or more promissory notes descnhed In the attached TREC Loan Assumption Addendum. ^ C. 'SELLER FINANCING: A promissory note from Buyer to Seller of $ secured by vendor's acid deed of trust liens, and containing the terms and conditions described in the attached 1REC Seller Financing- Addendum. If an owner policy of title- insurance is fumisfied, -Buyer shall furnish Seller with a mortgagee policy of title insurance. 5. EARNEST MONEY: Upon execution of this contract by both parties, Buyer shall deposit $1.000.00 as eamest;mortey with Poit Arthur Abstract 6 Title Co_ , as escrow agent, 8E 2950 Turtle Creek Drive.. Part-Arthur.~Tx 77642 . (address). Buyer shall deposit additional earnest money of $ with escrow agent within days-after the effecUVe date of this contract. If Buyer f81s to deposit the eamest money. as required lry Ntis wMract, Buyer will4e:,in default , 6. TET1E POLICY AND. SFJRVEY; A TTfLE PQLIGY: Seller shall furnish to Buyer at Q Seders ^.8uyer's expense an owner policy of title insurance ('floe Policy) Issued bq port Arthur Abstract & Ritle Co. (Title Company) m the amount of the Sales Price, dated at or after ddsing, insuring Buyer against loss under the arovisions of the Title Policv. subject to the oromulaated exclusions fincludina exishnd buildino and zoning (1 Resfrict(Ue Covenarits eomrnon td the platted subdivision in which the Property is bcated. (2 -Tlte standard printed exception for standby fees, taxes and assessments. (3 Llenszseated as part bf the financing described in Paragraph 4. (4} Utility easements created liy the dedication deed or plat of the subdivision in whidh the Property is located. (5) Reservafions or exceptions otherwise permitted by this contract or as may be approved by Buyer in writing. (Bj The standard pnnfed exception as to marital rights. (7~ The standard printed exception as to waters, tidelands; beaches, streams, and related matters. (8)The standard printed exception as So discrepancies,, conflicts, shortages in area. or boundary fines, encroachments or protrusions, or overlapping improvements. Buyer, at Buyer's expense, may have the exceptipn amended to read, "shortages in area". . B. COMMITMENT: Within 20-days after the Title Company receives a copy Of this contract, Seller shag famish to Buyer a comhiitnJenf for title insurance (commitment) and, at Buyer's expense, legible `copies of restrictive Initialed foridenfificatiori by Buyer ~1/!/J ^ and Seller (rAR'-1607)2-t8-Q6 T'ftEG NO.9-6 Page 1 of 8 Btoum P~opc.Kiee i6iGNaII;. PdrtNed~esTR 77651 ~ -- P1mnc409721553J Fos ((09} 721-9560 RonaM J. 61oun! ~ ~ Hagen 1838 A ' Pmduad MN apFmm^' W RE FortnsNet LLC 18x25 Faleen Milo Road, CMlan TowNtdp. Mitldgan 480.'!5 www.xtormmtam Exhibit " 2" 18.380 Acres Off Lake"Arthur Dr. Contract Concerning Port Arthur 77642 _ _ Page 2 of 8 02-13-06 (Address of Properly) covenants and documents evidencing exceptions In the Commitment (Exception Dowments) other than the standard printed exceptions. Seller author¢es the Tite Company to deliver the Commitment and Exception Dacurnents to Buyer at Buyer's address shown in Paragraph 21. If the Commitment and Exception Documents are not delivered to Buyer within the specified time, the time for delivery will be automatically extended up to 15 days or the Closing Date, whichever is earlier. C: SURVEY:. The survey must be made by a registered professional land surveyor acceptatiie to the Tjtie Company and arty lentler. (Check one box only) - (] (i) Within days after the effective date of this contract, Seller shall famish to Buyer and Tide Company Seller's existing survey of the Property and a Residential Real Property Affidavit promulgated by the Texas Department of Insurance (Affidavit). If the existing survey or Affidavit is not acceptaple to Title Company or Buyer's Iender,.Buyer shall obtain a new survey at ^ Seller's ^ Buyer's expense no later than & days prior to Closing Date. tf Seller fails to famish the exishng survey or Affidavit within the time prescribed, Buyer shall obtain a new survey at Seller's expense no later than 3 days prior to Closing Date. Q (2) Within 45 days after the effective date of this contract, Buyer shall obtain a new survey at Buyer's expense. Buyer is deemed to receive the survey on the date of actual receipt or the date specified in this paragraph, whichever is earlier. j] {3) Within days after the effective date of this contract, Seller, at Sellers expense shall famish a new survey to Buyer. D: OBJECTIONS: Buyer may object in writing to (i} defects, exceptions, or encumbrances to title: disGOSed on the survey other than items 6A(1) threugh (7) above; or disclosed in the Commitment other than ftems 5A(1) tfirough (8) aboye; (ii) any portion of the Property lying in a special flood hazard area (Zone V or A) as shown on the current Federal Emergency Management Agency map; or (iii) any exceptions which prohibit the following use inactivity: Buyer must object not later than (q the closing uate or pp eays ar[er nuyer receives uic sun prneirc~n, Exception Documents, and the Survey, whichever is earlier. Buyer's failure to object within the time showed will constitute a waiver of Buyer's right to object; except that the requirements in Schedule C of the Commitment are not waived. Provided Seger is not obligated to incur any expense, Seger shall cure the timely objections of Buyer or any third party lender within 15 days after Seller reserves. the objections and the Closing Data will tie extended as necessary. If objections are not cured within such T5 day period, this contract wig terminate and the earnest money will be refunded to Buyer unless Buyer waives the obJections. E TITLE NOTtGE$: (1) .ABSTRACT OR TITLE POLICY; Broker advises Buyer to have an abstract of title covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished-with or obtain a-Title Policy. If a Tide Policyis famished, the Commitment should be pramptty reviewed by an attorney of Buyers choice-due td the time limitations on Buyers right to abject. (?J MANDATORY OWNERS' ASSOCIATION MEMBERSHIP: The Propertv0 is xp is not subject to mandatory membership in an owners' association. If the Property is subject to mandatory membership in an owners' association, Seller notifies Buyer under §5.012, Texas Properly Code, that, as a purchaser of property in tfte residential comrrruniry M which the Property is located, you are obligated tb be a member of the owners' association. Restrictive covenants governing the use and occupancy of the Property and a dedii~fory insWrrient governing the establishment, maintenance, and operation of this residential ccmmuniry have beerror wilt be recorded in the Real property Records of the county in which the Property is located. Copies of the resMctive covenants and dedicatory instrument may be obtained from the county clerk. YoU ate obligated to pay assessments to the owners' association. The amount of the assessments is subjeck to change. Your failure. to pay the assessments could result in a lien on and the fareclcsure of the Property. If t~ r is concerned about these matters, the TREC promulgated Addendum ftII Property Subject to Mandatory Membership in an Owners Association should be used. (3) STkTUTORY TAX DISTRICTS: If the Properly rs sBuated in a utility or other statutorily created district provrdmg water, sewer, drainage, or food control facddies and services, Chapter 4g; Texas Water Gone, requires Seiler to deliver and Buyer to sign the statutory notice relating to the tax rate, bonded Indebtedness, or standty fee of the district prior to final execution of this contract. (4} TIDE WATERS: if the Property abuts the tidally influenced waters of the state, §33.135, Tetras Natural Resources. Code, requires a notice regarding coastal area Property to be included in the conVaet An addendum containing the notice promulgated by TREC or required by the parties must be used. (5) ANNEXATION: If the Property is located outside the limits of a municipality, Seller notifies Btiyerunder §5.011, Texas Property Code, -that the Property may now or later be inducted in the exUatemtorial jurisdiction of a municapality and may now or later be subject to annexation by the municipality. Each municipality maintains a map that depicts its boundaries and extraterntonal jurisdlctton. To determine rf ttre initialed for identification by Buyer '7+?'~ _ and Seller •E~"~. TREC NO. 9-6 jTAB-180 2-13-08 `__~~ Page 2 of 8 PIOdOCad,n~h ZlpFmm° M RE FonnaNer, LLC rB025 FlReen Mde Road', Cgnton Township. Michigan 18035 - zlotorin corn }{.~ ISJB A 18.380 Acree Of£ Aake Arthur Or. Contract Concerning Port Arfnhe~ 77642 Page 3 of tt 02.13.06 (Address of Property) Property is located within a municipality's extraterritorial jurisdiction or is likely to be located within a municlpa0ty's extraterritorial jurisdiction, contact all murticipalikies located in the general proximity of the Property far further information.. ` (6} PROPERTY LOCATED IN A CERTIFICATED SERVICE AREA OF A UTILITY SERVICE PROVfDER: Notice regmred by §13.257, Water Cade: The real property, described in Paragraph 2, that you are about to purchase may be Iecated in a certificated water or sewer service area,. which is authorized by law to provide water ar sewer 58rvice to the properties in the certifcated area. if your property is located in a certificated area there, may be special costs or Charges that you wilt 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 provider to determine the cost that you will be required to pay and the period, if any, that is required to provide water or sewer service to your property. The undersigned Buyer hereby acknowledges receipt of the foregoing notice at or before the execution of a binding contract for the purchase of the real proPertydescribed in Paragraph 2 or at closing of purchase of the real property. (7) PUBLIC IMPROVEMENT DfSTRICTS: if the Properly is In a public improvement disVict, §5.044, Property Coda, requires Seller to notify Buyer as follows: As a purchaser of this parcel of real property you are obligated to pay an assessment to a municipality or county for an improvement project undertaken by a public improvement district under Chapter 372, Local Government Code. The assessment may be due annually or in periodic instatfinents. More information concerning the amount of the assessment and the due dates. of that assessment may be obtained from the municipality or county levying the assessment Tha amount. of the assessments is subject to change. Your failure to pay the assessments could result in a lien on and Eire forecicsure of your properly: (8) TEXAS AGRICULTURAL DEVELOPMENT DISTRICT: The Property ^ is `® Is not located in a Texas Agdculturai Development District For additienal information, contact the Texas Department of Agrieutture. 7: PROPERTY C4NUITfON: • A. ACCESS,INSPECTIONS AND UTILITIES; Seller shat{ permit Buyer and Buyer's agents access to the Propeliy at reasonable times. Buyer may have the Property inspected by inspectors selected by Buyer and IicenseC by TREC or othenvlse permitted 6y law to make Inspections. Seller at Seller's. expense shall turn on existing utilities for mspeetions. NOTICE: 13uyer should determine the availability of utilities to the Property suitable to safisfy Buyer's needs. B. ACCEPTANCE OF PROPERTY CONDITION: Buyer accepts the Property in its present condition; provided Seller, at Sellers expense, shalt complete the followmg~ C: COMPLETION OF REPAlN5: unless o[nerwtse agrees m wrong, onne~ onau ~~~~~r~~,~ o~~ oy~...... ,..r..,,., r~•-~ ry the Closing Date. A~ required .permits must be obtained, and repairs must be performed. b/ persons who era licensed of otherwise pennltted by law to provide such repairs. At Buyer's election, any transferable wartanties received by Seiler with respect to Ehe repairs vnil be transferred to-Buyer at Buyers expense. If Seller fails to ccmplete any_agreed repairs prior to the ClCSing Date, Buyer Wray do so.and receive reimbursement from Seiler at Dosingg. The Clasirig Date will be extended up to i5 days, if necessary, to complete repairs. D. ENVIRbNMENTAL MATTERS: Buyer is advised that the presence of wetlands, toxic substances, including asbestos and wastes or other eovironmentai hazards, or the presence of a threatened or endangered species or ifs habitat may affect Buyer's Intended use of the Property. If Buyer Is concerned shout these matters, an addendum promulgated bbyy TREC or required by the parties should be used. E. SELLER'S DISCLOSURES: Except as otherwise disclosed in this contract, Seller has no knowledge cif the (1) any-flooding of the Property; (~ a r.pending or threatened fdigation; condemnation, or special assessment affecting the Property; (3y an~jrs7ivironmanfal hazards or conditions affecting the Property; 4} eny dumpsite, landfill, or underground tanks. or containers now or previously bated on the Property; 5) any wetlands, as defined by federal or state law or regulation, affecting the Property; or (6) any threatened or endangered species or their habitat affecting the Property. 8: BROf~RS' FEESs AR obligations of the parties for paymenf of hrokers' fees are contained in separate written agreements. 8. CLOSING: A. Tile Closing of the sale vn71 be on or before Anrii 11 , 2008 or within 7 days otter objectrons made under Paragraph 6D have been cured ar waived, whichever date is later (Closing Date). If eitfier party fails to close the sale by the Closing Date, the non-defaulting party may exercise the remedies ccntalned in Paragraph 15. trlltialedfaridentificadon by Buyer ~. ~-and Seller(~~" 'TREC N0. 9-6- (TAR~+'1fi0~ &4;3-~ ~- Page 3 of 8 PmQtlr~ eAm SpFOnn1° by RE Fwm~Neq LLC 18025 FOrean Mlle Road, CGrtton Towmlflp, MlGtlpan 480Th ~ ['}>~a 18J&A 18.380 Acres Off Laka Arthur Dr. EontractConceming Fort Arthvr 77642 Page4of8 02.13.08 (Adtlress of Property) B, At Closing:. (i} Seller Shall execute and defrver a general warranty deed conveying title to the Property to Buyer and showing no additional exceptions to those permitted in Paragraph S and famish tax statements or ceftificates showing no delinquent taxes on the Property. (2) Buyer shall pay the Sales Price in good funds acceptable to the escrow agent. (3) Seller. and Buyer shall execute and deliver any notices; statements, cert~cages, affidavits, releases, loan documents and dttler documents required of them by this contract, the Commitment or law necessary for the Closing of the sale arid the Issuance of the Titte Policy. C. Unless expressly prohibited by written agreement, Seller may cominue ro-show the Property and receive, negotiate and accept back up offers. D, All covenants, representations and warranties in this contract survive closing. 10. POSSESSION: Seller shall deliver to 6oyer possession of the Property in its present or required condition upon closing and funding. 11. SPECIAL PRt)VISIONS: (Insert only factual statements and business details applicable to this sale. TREC rules prohibit licensees from adding factual statements or business details for which a contract addendum or other form has peen promulgated by TREE for mandatory use,) Buyer is aware, NOAA and the City of. Port Arthur will have to approve this sale if accepted by Seller. - The legal description as defined by the Jefferson County `Appraisal District is as Follows: LT 5 TR 3 73Idf 10 RG G LT'7 TR 4 LT B TR 1 BLK SO RG H.:FALCO 1'8.380 A0. In re£arence to Paragraph 23. Buyer waives the,Termination Option Period. Ia reference to'Paragragh 8., Broker's Fee, Srokar will receive 6~ of sales Brice far commissoa, to be held From the proceeds o£ this sale. 13, SETTLEMENT AND OTRER EXPENSES: , A, 'The following expenses must be paid a# or prior tc closing: (1) Expenses payable by Seller (Seller's Expenses): (a) Releases of existing liens, including. prepayment penalties and recording fees; release of Seller's loan liability; tax statemens or certificates; preparation of deed; one-half of escrow fee; and other expenses payable by Seller under this contract (b) Seiler shall also pay arramount not to exceed $ NLA to be apptietl in the following order. Buyers Expenses which Buyer is prohibited from paying by FHA, VA, Texas Veterans Housing Assistance Program cr other govemmental loan programs, and then ro other Buyer's Expenses as allowed by the lender. (2) Expenses payable by Buyer (Buyer's Expenses}: (a) Loan originat(on; discount, buy-down, and commitment fees (Loan Fees): (b} Appraisal fees; logo application fees; credit reports; preparation of loan documents; interest on the notes mom date of citsbursement to one month prior fo dates of first monthly payments; recording fees;. copies of easements and restrictions; mortgagee title policy with endorsemems required by lender, loan•related inspection fees, photos; amortization schedules; one-fialf'of escrow fee; ail prepaid items, inetuding required premiums for flood and hazard insurance, reserve deposits for insurance, ad valorem taxes and special govemmental assessments; final corr~liance inspectien; courier fee; repair Inspection; underwriting fee; wire transfer fee; expenses incident to any loan; and other expenses payable by buyer under this contract B. Buyershafl pay Private Mortgage Insurance Premium (PMIj, VA Loan Funding Fee, or FHA Mortgage Insurance Premium (MAP) as required by dte lender. C. If any expense exceeds agamounf expressly stated In this contract far such expense to be paid by a part', that party rnaq terminate this contrad unless the other party agrees to pay such excess' Buyer may not pay charges and fees eicpressty prohibiCed by FHA, VA, Texas Veterans Rousing Assistance Program or other govemmental loan program regulatlons. initialed for identltlcatlon by Buyer -and Seller ~~ TREE NO. g-6 (TAR-16Q7) 2-t3~06 Page 4 of 8 ProdaCed wM ZfpFOm1"' 6t' RE rrombNel, tLC 7 B62b Fttleen MIeR6ad C3nron Tawnshtp, MfddQen 48635' Y~f©m'y~t6 Frexs3R l$.7$ A 18.380 Acres Off Lake Arthur Dr. Gentract Concerning Port Arthur . 77 642 Page 5 of 8 02-13-(]6 - (Address ofProperty) 13. PROBATIONS AND ROLLBACK TAXES: ' A PROBATIONS; Taxes for the current year, interest, maintenance fees, assessments, dues and rents will tie proratetl through the Closing Date. The tax proration Wray be calculated taking into consideration any change in exemptions that will affect the current year's taxes. IF taxes for the current year vary from the amount prorafeif at closing, the parties shall adjust the prorations when tax statements for the current year are available. If fazes are not paid at or prior io dosing, Buyer'shall pay taxes for the current year. B. ROLLBACK TAXES: if this sale or Buyer's use of-the Property after closing results in the assessment of additional taxes, penalties or interest (Assessments) for periods prior to closing, the Assessments will be the obligation of Buyer. if Seller's change in use of the Property prior to closing or denial of a special use valuation on the Property claimed by Seller results in Assessments for periods prior ko closing,. the Assessments will be the obligation of Seller. Obligations imposed by this paragraph will survive closing. 14. CASUALTY LOSS: If arty part of the Property is damaged or destroyed by fire or other casualty after the effective date of this contract, Seller shall restore the Property fo Its previous condition as soon as reasonably possible; bufin any event by the Closing Dafe. If Seller fats to do so due to factors beyond Sellers control; Buyer niay (a) terminate this contract and the eamest money w11 be refunded to Buyer (b) extend the time for performance up to t5 days and the Closing Date. will be extended as necessary or (c) accept the Property fit its damaged condition with an assignment of insurance proceeds and receive credit from Ballarat closing in the amount of tfie deductible under Ehe insurance policy. Seller's obligations under this paragraph are independent of any other obligations of Seller under this cbntracL 15. DEFAULT: If Buyer fails to comply with.this contract, Buyer will be in default, arid Seller may (a) enforce specific performance, seek such other refref as may be provided by law, or both,.or (b) terminate this contract and receive.the eamest money as liquidated damages, thereby releasing both. parties from this contract If, due le factors beyond Seller's control, Seller fails Within the time allowed to make arty non-casualty repairs or deliver the Coinmitmenf; Or survey, if required of Seller, Buyer may (a) extend the time for performance up to 15 days and the Closing Date win be extended as necessary or (b) terminate this contract as the sole remedy and receive the eamest money. If Se(ler falls to comply with this contract for any other reason, Seller will be in default and Buyer may (a} enforce specific performance, seek such other relief as may. be provided. by law, or both,' or (b) terminate this contract and receive the earnest money, thereby releasing bath parries from this contract. t5. MEDIATION: It is the policy. of the State of Texas to encourage resolution of disputes through alternative dispute resolution procedures such as mediation. Any dispute between Seller and Buyer related to this contractwhich is not _ reSOlved through informal discussion xQ wiN ^ will not be submitted to a mutually acceptable mediation service or provider.'The parties to the mediation shall bear the mediation costs equally. This paragraph tloes riot preclude a party from seeking equitable refref from a court of competent jurisdiction. ' 'k7: ATTORNEY'S PEES: The prevailing party in any legal proceeding related to this contrail is entitled to recoVet reasonable attorney's fees and atl costs of such proceeding incurred by the prevailing party. 18. ESCROW: A, ESCROW: The escrow agent is not O a party to this contract and does not have Ilablrty for the performance or nonperformance of arty party to this contract, (ii) liable for interest on ttte earnest money and (iii) liable forthe loss ' of airy, eamest money caused by. the failure of arty financial instffuHon in which the eamest money has been deposited unless the financial institution is acting as escrow agent. ` B: EXPE~§ES: At closing, ffie eamest money must be applied first to any cash down payment, then to Buyer's Expenses and any excess refunded Fo Buyer. If no closing,occurs, escrow agent may require payment. of unpaid expenses incurred on behalf of the parties and a written release of IiabiHty of escrow agent from all parfies. C. DEMAND: Upon termination of this contract, either party or the escrow agent may send a release 'of earnest money to each party and the parties 5ltall execute counterparts of the release and deliver same to the escrow agent If either party fails to execute the release, either patty may make a written tlemand to the escrow agent for the earnest money. tF onty one early makes written demand for the eamest money, escrow agent shall promptly provide a copy of the demand to the other party. If escrow agent does not receive written objection to the demand from the other party within 15 days, escrow agent may disburse the eamest money to the party making demand 2dueed by fhe amount of unpaid expenses incurred on behalf of the party receiving the eamest money and escrow agent may pay the carne to the oredRors. If escrow agent complies vAth the provisions. of this paragraph, each party hereby releases escrow agent from ail adverse claims related to the d'rsbursaf of the trittialed for identification by Buyer _ and Seilery~ „~_ T~EC NO. 9-6 (TAR-160 2-13-06 ~~/ Page 5 of 8 Prodtxed x9Bi LpFOffflry try RE FormsNeL LLC ~ 8625 Flfteen Mile Road. CBnlon Township. Michigan 48035 wsw rio(orm.eam Hassan I$.38 A 18.380 Acres OEE Lake Arthur Dr. ConUact Concerning Port Arthur 77642 ~ Page 6 of B 02--f3-0fi (Address of Property) , D. DAMAGES; Any party who wrongfully fats or refuses to sign a release acceptable to the escrow agent within 7 days of receipt of the request will be liable to the other party'for liquidated damages of three times the amount of ` the earnestmoney. E. NOTICES: Escrow agent's notices wfll be effective when sent in compliance. with Paragraph Z1. Notice of objection to the demand will be deemed effective upon receipt by escrow agent. . 19: REPRESENTATIONS: Seiler represents that as~of the Closing Date (a) there will. be no liens, assessments, or security interests against the Property which will not be satisfied cut of the sales proceeds unless securing payment of any loans assumed by Buyer and (b) assumed loans will not be in default If any representation of Seller imthis contradt is untrue on the Closing Date, Seller will be in default. 20. FEDERAL TAX REQUIREMENTS: If Seller is a "Foreign person ° as defined by applicable law, or if Seller fails to deliver an affidavit to Buyer that Seiler is not a "foreign person; then Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law antl deliver the same to the Internal Revenue Service together with appropriate tax forms. Internal Revenue Service regulatiens require filing written reports if currency in excess of specified amounts is received in the transaction. " 21. NOTICES: All.notices from one party to the. other must be in writing and are effective when mailed to, hand-delivered. at, orlransmitted by facsimile or electronic transmission as follows: To Buyer at: To SeNer at: Hassan Shomalzadeh Tim McKenzie, President 4506 Kandywood Lane 127 Novant Drive Port Arthr Tex 77642 - ~ Little Rock Arkansas 72223. ' Telephone: (409)466-6304 Telephone: (5011663-2451 { Facsimile: 'Facsimile: E-mail: E-mail: Z2. AGREEMENT OF PARTIES: This contract contains the-entire agreement of the parties and. cannot be changed except by their written agreement Addenda which are a part of this contract are (check all applicable. boxes): ^ Ttiird Party Financing Condition Addendum ^ Ehvironmental Assessment; Threatened or Endangered Species and Wetlands Addendum ^ Seller'Fynanartg Addendum ^ Addendum for Coastal Area-Property _ ^ Loan Assumption Addendum ^ Addendum for Property Located Seaward of the Gulf Intracoastal Waterway ^ Addendum for Property subject to ^ Addendum for Release of Liability on Mandatory Membership in an Owners' ,. Assumption of FHA, VA, orCorwentional Association Loan Restoration of Seller's Entitlement for VA Guaranteed Loan ^ Addendum for Sale of other Property. by ^ Addendum for "Back-Up" Contract Buyer Other (list): - Initialed foridentification by Buyer 1L _ and Setler~Y- (fAR-1607} 2-16-06 Pradutedwdh Iprwrm° b/ RE FiunuNeL LLC 19825 Fifteen AVM Raad, CMWn TaNnship. MieNgen x8035 wv~w.bofortnc0m TREC NO. g-6 Page S of8 AasaB~ 1838 A 18.380 Acres -0ff Lake Arthur Dr. ContractConceming Pcrt Art'_1+++,• 77642 Page7of8 02-13-06 (Address of Property) 23, TERMINATION OPTION: For nominal consideration, the receipt of which is hereby acknowledged b9 Seller, and Buyer's agreement to pay Seliar $ ptfA (Option Fee) withln 2 days after the effective dale of this contract, Seller grants Buyer the unrestrictetl right to terminate this contract by giving notice of termination to Seiler within N . A daysafter the effective date of this contract. If no dollar amount is stated as the Opticn Fee or if Buyer fails to pay tfre Option Fee within the time prescribed, this paragraph w11 not be a part of this contract and BLlger shall not have the unrestricted right to terminate this contract If Buyer gives notice of"termination: within the time prescribed, the Option Fee will not be refunded; however, any earnest money will be refunded to Buyer. The Option Fee ^,will ^ will not be credited to the Sales Price at closing" Time is of the essence for this paragraph and stricE compliance with the time for performance is required. 24. CONSULT AN ATTORNEY;.Real estate licensees cannot give legal advice. READ THIS CONTRACT CAREFULLY. If youdo not understand the effect of Phis contract, consult agattomey BEFORE signing. Buyer's Seller's - Attomey ls: Pete steels Attorney is: 31P0 Central Mall Dr, Port Arthur, Tex., 77642. - Teiephone: !409172.4-6644 Telephone: Facsimile: Facsimile: E-mail: E-mail: ~/ u EXECUTED the ~Qlrl - day of 7T1 Cs~t~t ~ Z oo $ IEFFECTNE QATE). (BROKER: FILL IN THE DATE OF F)NAL ACCEPTANCE.). Buyer Hassan Shomalzadeh Seller Hancock, 38seph & niels,Inc. Buyer Seller Theform of Ihis contrail has tieen approved 6y the Texas Real Estate Commission. TREC (arms are intended fm use only bf trained teal - estate licensees. No represema5on i9 made a5 to the legel Validity of adequacy of any provisiorrin any specific transactions. It Is not intended for complex trartsaUOns. Texas Reel Estate Eorrimisslon, P.O, Box 12188, AusSn, 7X.78711-2188, t'-@b0-25g-8732 Or (512) 459-65~i~ (Atlp!/rnvw.trec.state.&.usy TftEC NO.9-fi. This form ieplaces TREE N0.9-5. TREC M1IO. 9-6 (1-AFt 1607) 2.13.013 Page 7 of 8 Produced w8h 2rpFOnn° !H RE FomisNeL LLC 1a02S Fltieen hTile Road, f7aihm TovmsttlP. M1fichig4n 48035 v,vnv.zieknnmm. Ratami 18J8 A 18.380 Acres Off Lake Arthur Dr. Contract Concemtng Port Arthur 77642 - Page 8 of B 02-13-06 (Address of ProDerry BROKER INFORMATION AND RATIFICATION OF FEE. Listing Broker has agreed to pay Other Broker N/A of the total sales price when Listing Broker's fee is received. Escrow Agent is authorized and directed to pay Other Broker from Listing Broker's fee at closing. N/A ~ ~ Blount Properties 0234628 Other Broker License No. Listing Broker License No. represents ~ Buyer only as Buyer's agent represents ~ Seller and Buyer as an intermediary ^ Seller as Listing Brokers subagent ^ Seller only as Sellers agent - / Q ~. (409)721-5533 Associate Telephone Listing Associate Telephone - ~ Ronald J, Blount 2826 Na11 (909)721-9560 Broker's Address Listing Associate's Office Address Facsimile - Port Neches Tx 77651 City State .Zip City - State Zip ronnie@blountproperties. com Facsimile Email Address // per, ~`~"~+~C~ j/Ze,_.fi (409) 721-5533 Email Address Selling Associat Telephone. Ronald. J. H1 unt Same Selling Associate's Office Address Facsimile CRy State Zip Email Address OPTION FEE RECEIPT Receipt of,$ -o- (Option Fee) in the farm of is acknowledged. Seller or Listing Broker Date ~C/ONTRACT AND EARNEST MONEY RECEIPT /~ ~ ~ ~~ I Receipt of Contract and L'~ $~~ ~ • E~ Earnest Money in the form of S~ is acknowledged. ~ ~~ l ~}~ Escrow /agent. Port Arthur Abstract & Title co. Dater, By: Molly Mahe Email Address 2950 Turtle cr k nrive - Telephone: (408)960-3000 Address ` port Arthur Tx 77fi42 Facsimile: - City State Zip i )ktk: rv~. a-o (TAR-1607) 2-13-06 - - Page B at 8 PmtluCPd with ZIDForm'v hY RE FormsNM, LLC 18025 Fltteen MBe Rgad. Cfinron Township, Michigan ~80.'IS www.ziolorm cam Hassan 1 B~8 A Approved by the Texas Real Estate Commission For Voluntary Use Texas lawrequfres all real estate licensees to giveYhe (allowing information about brokerage services to prospective buyers, tenants, se/lets and landlords. in#ormation About. Brokerage Services afore working with a real estate broker, you should know that the duties of a broker depend on whom the- broker represents. It you are a prospective" seller or landlord (owner) ar a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owners agent. A broker who acts as a subagent represents the owner in cooperation wipl the listing broker. A broker who acts as - a buyers agent represents the buyer. A broker may act as an intermediary between the- partiesd the parties consent in writing. A broker can assist you in locating a , property, preparing a contract or lease, or obtaining finanang without representing you. A broker is obligated by law to beat you honestry. IF THE BROKER REPRESENTS THE OWNER: The hroker bewmes the owner's agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting en offer of subagency from the listing broker. A subagent may work in a different real estate office. A lisf(ng broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The -buyer should not tell the owners agent anything the buyer would not want the owner to know because an owner's agent must disclose to the owner any malarial information known to the agent. IF THE 6ROKER REPRESENTS THE BUYER: The broker becomes the buyers agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer's agent cart assist the owner. but does riot represent the owner and must place the interests of the buyer first. The owner should not tall a buyers agent anything the owner would not want the buyer to know because a buyers agent must disclose to the buyer arty material information known t_o the agent. IF THE t3ROKER ACTS AS AN INTERMEDIARY: A broker may act as an intertnedlary between the parties 'rf the broker c~rplles with The Texas Real Estate License Act. The broker must obtain the written consent. of each party. to the transaction to act. as an intermediary. The written consent must state who will pay the broker and, in. - conspicuous bold or underlined print, set forth the brokers obligations as an intermedary. The broker is required to treat each parry honestly and fairty and to comply with The Texas Rea! Estate License Acl. A broker who acts as an'intermediary in a transaction: (1) shall treat all parties honestly; - {2) may- not discose that the owner will accept a _- price less than the asking price unless authori¢ed in writing to do so by the owne_ r; (3) may not disclose that the buyer will pay a price greater Ihan the price submitted in a written offer unless authorized in writing to do so by the buyer, and - (4) may not disclose any confidential information or ' any information that a party specifically instructs the broker. in writing not to disclose unless authorzed in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the irormation materially relates to the condition of the property, ~ - With the parties' consent, a broker actlng as an intermediary between the parties may appoint a person who is licensed under The. Texas Real Estate License Act ' ~ and associated with the broker to commurriwte with and carry out instructions of one party and another person who' . ~ is licensed under that Act and associated wtlh the broker - to, communicate with and carry out instructions of the - other party. If you choose to have a broker represent you, you should enter into a written agreement with the broker - that dearly establishes the broker's obligations and your obligatidns. The agreement should state how and by whom the broker vn'U be paid. • You have the right. to choose the type of representation, rfany, you wish to receive. Your payment of a fee ~ to a broker does not rrecessarily establish that the hroker represents you. K you have any questions regarding the duties and' responsibilities of the hroker, you should resolve those ques&ons before proceeding. ' Real estate licensee asks that you~cknowledge receipt of this informatlon"about brokerage services for the Ilcensee'srecords: 'z3/o 7 Texas Real Estak Brokers and Salespersons are lcensed arN regulated W the Texas Real Estate Commission (TREC} I! you nave a question or cdmplaint regarding a real estate Pcerce.4, you snoultl ContaG TREC al P.O. Box 12188, Austin, Texas 7871 7-2 188 or 512-465-7960. (1-AR-2501)111/96 01A neuednnC smarasrtr TREC No. OP-K Page 1 of 1 Blourd Pmpertia 2825 Nall, Port Neches TX 77651 Plionc 4097215533 Faxi (409) 721A560 Ronald 1. Blount Pmda¢d wiQr ZipFadh ^'try RE FarmsNe4 LLC 18025 Fifteen MikRaad, ClMlon Tawnstdp, Michigan 48075 www.bofamrmm- - + t.zfx The real property, described below, which you aze about to purchase, is located in the Jefferson County Drainage Disfict No. 7. The District has taxing authority separate from any other taxing authority, and may, subject to voter approvals issue an unlimited amount of bonds and levy an unlimited rate of tax in p8ymeat of such bolds. As ofthis date, the rate of taxes levied by [he District on real property located. in the district is 0.]$ 72102 on each $100.00 of assessed evatuarion. !f the District has not yet levied taxes, the most recent projected rate of debt service tax, as ofthis date, is $0.00 en each 1$ 00.00 of assessed valuation. The total amount of Bonds which has been approved by the voters and which have been or may, at this.date, be issued is ~, and the aggregate initial principal amounts of all bands issued far Otte or more of the specified facilities of the District and payable in whole or in part from property taxes which have been previously issued was $28.845.000.00. ' The District has the authority to adopt and impose a standby fee on property in the distriU that has disttict- financed water or sewer facilities and services available but not connected. The district may exercise the autfority without holding an election on the matter. As ofthis date, the mostrecent amount ofthe standby fee is 0:00. An unpaid standby fee is a personal obligation of the person that owned the property at the time of imposition and is secured by alien on the property. Any person may request a certificate from the district staGug the amount, if any, of unpaid standby fees on a tract of property in the district The purpose of this District is m provide drainage and flood control facilities and services within the district through the issuance of bands payable in whole or in part from property taxes. The cast of those utility facilities is not included. in the purchase price of your property, and these utility facilities are owned ar to be owned by the DistriU: The legal description of the property, whictr you are acquiring, is ss follows: LT 5 TR 3 BLK 10 RG GLT7TR4LT8'I'R1BLK10RGHPAL O. 3°t p •Zay~? ~~ Date Signature of Seller r Date - ~ Signatrre of Seller The undersigned Purchaser hereby aclmowledges receipt of the faregaittg notice at or prior to execution of a binding tmrtract for the purchase of the real property described in such notice or at closing of purchase of the real property. ~ /'~ A~~ ~'-~3 ~ 07 -t7 C4d _v - bate Signature of Purchaser Date Signature of Purchaser PURCHASER [S ADVISED THAT THE INFORMATION SHOWN ON THIS FORM IS SUBIECT TO CHANGE BY THE DISTRICT AT ANY TIME. THE DISTRICT ROUTINELY ESTABLISHES TAX RATES DURING THE MONTHS OF SEPTEMBER THROUGH DECEMBER OF EACH YEAR, EFFECT`1VE FOR THB YEAR IN WHICH THE TAX RATES ARE APPROVED BY THE DISTR[C'f. PURCHASER IS ADVISED TO CONTACT THE DIS'[`RICT TD DETERMINE THE STATUS OF ANY CURRENT OR PROPOSED CHANGES TO THE INFORMATION SHOWN ON THIS FORM. , 4~t " "TEXAS ASSOCIATION OF REALTORS® INTERMEDIARY RELATIONSHIP NOTICE USE UP TNIS FORM 8Y PQZSUNS NMO ARE NOT AIEMSERS Of THE TEFAS ASSOGaTION OF eEALTUR5015 NUT AlI(NUR¢EO. ' BfTmg6 Afeoela'tWn W REAlTUR3~, Inc 3D04 Tot Hancock Joseph & •Danials Inc iTim IdeRenzie FYesidentl (Seller of Landlord) and Hassan Shomalzadeh (Prospect) From: Blavrit Properties (Ronald .7 ]sleunt) (Sraker's Firm) 26.380 Acres Off Lake Arthur R8: Port Arthur Tx 77642 (Property) Date: A. Unifier 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 fine represents the owner under a listing agreement and also represents the prospect under abuyer/tenant representation agreement. C, lR the Written listing agreement and the written buyerftenant representation agreement, tioth the owner and the praspectpreviousiyouthorized Broker to act as an intermediary if'a prospect who Broker represents desires to buy or tease a property that. is listed by the Broker. When the prospect makes an offer to purchase or lease the Properly, Broker will act in accordance with- the authorizations granted in the listing agreement and in the buyer/tenanf representation agreement. I). Broker ^ will ~ wiN 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:. to the owner, and 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 ihformatfoh: (Disclose material information related to 8/akeJ's relationship to the parties, such as persona! relationships or prtor or conCemplated business relatonships.) l'tie under igtied aeknowled a receipt of this notice 3-10 -~$ SeRer:or landloriJ Oate T°im McKenzie Seller or Landlord Date (TAFt: 94Q9} t-7-04 Prosped ~ date Hassan $hodsalzadeh Prospect Date Paged df9 Blount Plvpc;ii328Y6 NdR, Pon NcchesnX~77631 t~ PHanr.40972t3533 Fak (dU4)72I-9560 Ronald J. Slomd Ptedute0 vACI IDpPvrm"' br RE FomrsDteL-LLC 18025 Filfeen Mlle Road, crm7on Tw.miiip, Mkhigan 43035 wvw ±~ok+^! com EXHIBIT "D" AUTHORIZATION TO SELL PROPERTY Whereas, by Deed Without Warranty recorded August 23, 2001 under County Clerk'"s file number 2001030451 Official PublidRecords of Real Property, Jefferson County, Texas, Park Central Municipal Utility District conveyed approximately 18.380 acres of land to Hancock, Joseph & Daniels, Inc.; and Whereas, the Deed provides that any future contract of sale must be approved in writing by United States Department of Commerce National Oceanic and Atmospheric Administration and the Park Central Municipal Utility District; and Whereas, Pazk Central Municipal Utility District was dissolved and the City'of Port Arthur, Texas is its successor in interest; and Whereas, Hancock, Joseph & Daniels, Inc. wishes to sell the property to Hassan Shomalzadeh for 560,000 pursuant to a contract furnished to NOAA and the City, with the net sale proceeds being paid to the City. Accordingly,. the undersigned hereby approves the sale of the property pursuant to the contract with Hassan Shomalzadeh and pursuant to the terms of Resolution No. United States Department of Commerce National Oceanic and Atmospheric Administration By (printed name and title) City of Port Arthur, Texas (Successor to Park Central Municipal Utility District ) By (printed name and title) z.po5874_exhibit d