1960 Nantucket Richardson, Texas

Transcription

1960 Nantucket
Richardson, Texas
Exclusively Presented By:
Janice Peters, CCIM
Henry S. Miller Commercial
1100 Providence Towers West
5001 Spring Valley Road
Dallas, Texas 75244
(972) 386-1415 Phone
(972) 386-1410 Fax
[email protected]
HENRY S. MILLER COMMERCIAL
Table of Contents
I.
Executive Summary
II. Property Information
a. Interior Pictures
b. Floor Plan
c. Survey
d. Landscape Plan
e. Site Analysis
f. Improvement Description
g. Tax Roll Information
h. Zoning Information
III. Area Information
a. Telecom Corridor Information
b. Aerial
c. Fiber Optics Map
d. Light Rail
e. Demographics
f. Community Profile
IV. Market Information
a. Comparable Sales
V.
Brokerage Information/Sales Contract
VI. Disclaimer
Executive Summary
Table
of Contents
.
Henry S. Miller Commercial,
as exclusive agent for the owner, is please to
I. Executive Summary
offer for sale or lease, 1960 Nantucket, Richardson, Texas. This property
II. Property
is currently
a day Information
care facility consisting of approximately 8,300 SF
situated on 1.019 acres. The facility is located in the northeast area of
a. Interior Pictures
Richardson, Texas. Retail is situated to the north and east and residential to
Floor PlanJunior High is west of the property. Possible uses
the south.b.Richardson
other than day care are medical office or professional services (real estate,
c. Survey
CPA, attorney, insurance, or general offices).
d. Landscape Plan
e. Site Analysis
f. Improvement Description
g. Tax Roll Information
h. Zoning Information
III. Area Information
a. Telecom Corridor Information
b. Aerial
c. Fiber Optics Map
d. Light Rail
e. Demographics
f. Community Profile
IV. Market Information
a. Comparable Sales
V.
Brokerage Information/Sales Contract
VI. Disclaimer
FOR SALE
OR
LEASE
1960 Nantucket
Richardson, Texas
¾ Approximately 8,300 SF
¾ Situated on 44,424 SF/1.01 Acres
¾ Located close to the intersection
of Campbell & Nantucket
¾ Ideal for Day Care, Professional
Services or Medical Offices
For Information Contact:
Janice Peters, CCIM
(972) 386-1415
[email protected]
1100 Providence Towers West, 5001 Spring Valley Road, Dallas, TX 75244 Ph.(972)419-4000 Fx.(972)419-4099
Visit our website at www.henrysmiller.com
Since 1914
The information contained herein was obtained from sources believed reliable; however, Henry S. Miller Commercial makes no guarantees, warranties or representations as to the
completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without
notice.
1960 Nantucket, Richardson, Texas
Site Analysis
1960 Nantucket is located south of the Campbell Road and Nantucket
intersection on the east side of Richardson, Texas. Following is a summary
of characteristics:
Mapsco:
7S
Size:
44,424 SF or 1.02 Acres
Site Dimensions: The subject property is irregular in shape with 100 feet
of frontage on Nantucket and fans out to 186.72 feet on
the east side. It has a depth of 319 feet.
Flood plain:
According to flood insurance rate maps, the subject is
not located in the 100-year flood plain.
Utilities:
Municipal water and sewer are provided by the City of
Richardson.
Fiber Optics:
Southwestern Bell Telephone has a fiber line along
Campbell Road according to the Fiber Map of the City
of Richardson.
Zoning:
LR-M (1) Local Retail, has a Special Use Permit
without any term limitations.
Surrounding
Land Uses:
Primarily retail and development is to the North of the
subject property. A vacant tract of land is adjacent to
the property on the South. Northwest of the property is
Richardson North Junior High School.
Improvement Description
1960 Nantucket, Richardson, Texas is a single story building. Following is
a summary description of the improvements.
Year Constructed: 1979
Location:
1960 Nantucket is south on Nantucket from Campbell
Road. Nantucket is between Custer Road to the east and
Floyd Road to the west.
Building Size:
Approximately 8,300 rentable square feet
Land Size:
Approximately 1.019 acres, more or less
Story Height:
12’ – 14’
Parking:
Approximately 25 striped spaces
Zoning:
LR
Price:
$700,000 Cash / $85.00 PSF
HVAC:
Six (6) roof top units.
Foundation:
Assumed to be a post tension concrete slab on grade.
Exterior Walls:
Brick and painted shutters. Painted aluminum
downspouts built into the exterior walls.
Roof:
The roof is a flat built-up with tar and gravel surface.
The roof has a false façade at the roofline with
composition shingles.
Carport:
The front of the building has an 18’ X 22’ covered
carport with a drive through.
Restrooms:
Sets of children’s toilets in each classroom. One (10
adult restroom by reception area
Improvement Description-(cont’d)
Exterior Doors:
The building has one (1) main front door. Each
classroom has a steel emergency door.
Sidewalks:
Concrete around the perimeter.
Ceiling:
The ceiling in the office is roughly 8’-10’ high.
Interior Doors:
Wood with glass panels.
Interior Walls:
The interior finish out consists of a combination of
painted sheetrock and glass. Some walls have 3’
wainscoting.
Floor Covering:
Vinyl tile and carpet with ceramic tile in restrooms and
kitchen.
Lighting:
Recessed fluorescent fixtures.
Windows:
Fixed panes in aluminum frames.
Utility Source:
TXU
Site
Improvements:
The site is improved with grass playground area and a
sprinkler system.
Layout:
Five (5) large classrooms, one (1) kitchen, one (1)
office, one (1) laundry/storage room, four (4) children’s
restrooms, one (1) adult restroom, and an office and
reception area.
Kitchen:
Has a formica countertop, stainless steel sink with three
separate compartments and a pantry area.
Day Care
Capacity:
Playground:
151 children
Concrete paving wraps the building on three (3) sides.
Equipment is set in pea gravel.
Home | Find Property | Contact Us
Commercial Account #42237650010010100
Location Owner Legal Desc Value Improvements Land Exemptions Estimated Taxes Jurisdictions Building Footprint History
Property Location
Address: 1960 NANTUCKET
Market Area:
Mapsco: 7-S
DCAD Property Map
Legal Desc
1: SWEET
2: BLK A LOT 1 ACS 1.0198
3:
4: VOL89251/0225 EX122189 CO-DALLAS
5: 2376500100101 34223765001
Deed Transfer Date: 12/29/1989
View Photo
Print Homestead Exemption Form
Owner
GRIFFITH BALIE & BEVERLY
% CHILDRENS WORLD
573 PARK POINT DR
GOLDEN, CO 80401-7042
DBA:
CHILDREN WORLD
Value
2003 Proposed Values
Improvement:
Land:
Total:
Ag Use Value: N/A
$223,920
+ $231,010
= $454,930
Improvements
#
Name: CHILDREN WORLD
Desc: DAY NURSERY
Construction
Construction:
Foundation (Area):
1
C-MASONRY, BLOCK,
TILT-WALL
CONCRETE SLAB (8,150
sqft )
Net Lease Area : 8,300 sqft
# Stories: 1
Total Area: 8,150 sqft
Year Built: 1979
Depreciation
Appraisal Method
35%
Physical:
Functional: + 0%
External: + 0%
Total: = 35%
N/A
Quality: AVERAGE
Condition: GOOD
# Units: 0
Basement (Area): NONE
Heat: CENTRAL HEAT
A/C: CENTRAL A/C
#
State Code
1
COMMERCIAL
IMPROVEMENTS
Frontage Depth
Zoning
(ft)
(ft)
LOCAL
RETAIL
0
Land
Pricing
Area
Method
Unit
Market
Adjusted Ag Ag Use
Price Adjustment
Price
Land Value
44,424
SQUARE STANDARD $8.00
FEET
Exemptions
0
-35%
$231,005
N
$0
Taxing
Jurisdiction
General
Homestead
Over
65
Disabled
Person
Disabled
Vet
City
$0
$0
$0
$0
$0
$0
$454,930
County
$0
$0
$0
$0
$0
$0
$454,930
School
$0
$0
$0
$0
$0
$0
$454,930
College
$0
$0
$0
$0
$0
$0
$454,930
Hospital
$0
$0
$0
$0
N/A
N/A
$454,930
Special District
$0
$0
$0
$0
$0
$0
$0
Over-55 Surviving Spouse:
N
Pollution Historic
Taxable
Value
Estimated Taxes
Taxing Jurisdiction
City
Tax Rate per $100 value Taxable Value Estimated Taxes
RICHARDSON
County
DALLAS COUNTY
School
RICHARDSON ISD
College
DALLAS CNTY COMMUNITY COLL
Hospital
PH-PARKLAND HOSPITAL
Special District UNASSIGNED
$0.47785
$454,930
$2,173.88
$0.196
$454,930
$891.66
$1.8081
$454,930
$8,225.59
$0.06
$454,930
$272.96
$0.254
$454,930
$1,155.52
$0
$0
Total Estimated Taxes:
$0.00
$12,719.62
The estimated taxes are provided as a courtesy and should not be relied upon in making financial or other decisions. The Dallas
Central Appraisal District (DCAD) does not control the tax rate nor the amount of the taxes, as that is the responsibility of each
Taxing Jurisdiction. Questions about your taxes should be directed to the appropriate taxing jurisdiction. We cannot assist you in
these matters. These tax estimates are calculated by using the most current certified taxable value multiplied by the most current
tax rate. It does not take into account the Senior Citizen Ceiling, Agricultural Special Valuations or any other special or unique tax
scenarios. If you wish to calculate taxes yourself, you may use the TaxEstimator to assist you.
City:
County:
Jurisdictions
RICHARDSON
DALLAS COUNTY
School:
College:
RICHARDSON ISD
DALLAS CNTY COMMUNITY COLL
Hospital:
PH-PARKLAND HOSPITAL
Special Tax District:
UNASSIGNED
Building Footprint
History
Market
Market Values
2002
2001
2000
1999
1998
Improvement
$223,920
$217,240
$217,240
$217,240
$151,380
Land
$231,010
$231,010
$231,010
$231,010
$222,120
Total Market
$454,930
$448,250
$448,250
$448,250
$373,500
$0
$0
$0
$0
$0
Homestead Capped
More History
Taxable
Taxable Values
2002
2001
2000
1999
1998
City
$454,930
$448,250
$448,250
$448,250
$373,500
County
$454,930
$448,250
$448,250
$448,250
$373,500
School
$454,930
$448,250
$448,250
$448,250
$373,500
College
$454,930
$448,250
$448,250
$448,250
$373,500
Hospital
$454,930
$448,250
$448,250
$448,250
$373,500
$0
$0
$0
$0
$0
Special
© 2003 Dallas Central Appraisal District.
All Rights Reserved.
Website designed by ATS, Inc.
Telecom Corridor® Area
MTBC
Richardson Chamber
Membership & Marketing
Calendar of Events
Economic Development
TechTitans
Convention & Visitor's Bureau
Leadership Richardson
Digital Newsroom
About the Telecom
Corridor®
The Telecom Corridor® is a defined geographic area
in north Texas. It encompasses one of the highest
concentrations of leading-edge telecommunications
and technology-based companies in the world. The
Telecom Corridor® contains approximately 70,000
daytime workers, nearly 25,000,000 square feet of
high tech work space and 1,500 acres of land
available for future development. The North Texas
Council of Governments projects that by the year
2010 the Telecom Corridor® will add 40,000 jobs
and be the second largest employment center in the
D/FW Metroplex behind only downtown Dallas.
TechLink Newsletter
(Click here for
Links
Member Directory
Telecom Corridor® Area Jobs
STARTech
map)
Photo by Dean Bentley
The Telecom Corridor® is located in Richardson, an
affluent suburban city lying due north of Dallas,
Texas. Geographic concentrations of industry within
the Telecom Corridor® are in the shape of the letter
"T": The 5-mile-long leg of the "T" lies along, and on
both sides of, North Central Expressway (U.S.
Highway 75) and the crosshatch of the "T" lies along
the south side of State Highway 190 (President
George Bush Highway).
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Lat: 32.9781
Plano
Plano
5.00 Miles
Zoom: 11.0
190
190
289
1.00 Mile
75
PREST
PREST
PREST
ON
ON
RD
RD
PRESTON
PREST
PREST
ON RD
ON
ON
RD
RD
RD
DAL
CUSTER
CUSTER RD
RD
CUSTER
RD
<
RD
CAMPBELL
CAMPBELL
CAMPBELL RD
RD
Richardson
Richardson
ddison
ddison
RD
RD
ER
RD
RD
PITER
ER
ER RD
JU
PIT
JU
JU
JUPIT
JU
BELT LINE
LINE RD
RD
BELT
LINE
RD
BELT
LINE
RD
BELT
LINE
RD
BELT
G
G
GR
RE
R
R
R
EE
E
E
E
EN
E
E
E
E
NV
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N
VIIIIILLL
V
N
V
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LLL
LLL
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E
AV
A
A
A
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V
V
V
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E
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E
RD
EST
EST
RD
HILLCR
HILLCR
HILLCR
EST RD
EST
HILLCREST
HILLCR
HILLCR
ALPHA
ALPHA
ALPHA RD
RD
RD
RD
ALPHA
ALPHA
ALPHA
RD
635
0
1
Miles
BUCKINGHAM
BUCKINGHAM
BUCKINGHAM RD
RD
RD
2
FOREST LN
FOREST
LN
LN
FOREST
LN
FOREST
FOREST
LN
W Campbell Rd At Nantucket Dr
Richardson, TX
May 2003
Prepared By
This map was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
Logos are for identification purposes only and may be trademarks of their respective companies.
PLANO
PLANO
PLANO PKY
PKY
PKY
PKY
PLANO
PLANO
PLANO
PKY
JUPITE
JUPITE
JUPITE
R
R
RD
RD
JUPITER
JUPITE
JUPITE
R RD
R
R
RD
RD
RD
5
3.00 Miles
K
K
K
AV
AV
E
E
K AV
K
K
AVE
AV
AV
E
E
E
COIT RD
COIT
RD
RD
COIT
RD
COIT
COIT
RD
Lon: -96.7404
CUSTER
CUSTER
CUSTER
RD
RD
CUSTER
CUSTER
CUSTER RD
RD
RD
PKY
INDEPENDENCE
INDEPENDENCE
PKY
INDEPENDENCE
PKY
PKY
INDEPENDENCE PKY
INDEPENDENCE
PARK BLVD
PARK
BLVD
BLVD
PARK
BLVD
PARK
PARK
BLVD
DEMOGRAPHIC PROFILE EXPANDED
2000 Census, 2002 Estimates & 2007 Projections
Calculated using proportional block groups
Prepared By
Lat/Lon: 32.9781/-96.7404
May 2003
RF5a
Richardson, TX
1.00 mi radius
3.00 mi radius
5.00 mi radius
Estimated Population (2002)
Census Population (1990)
Census Population (2000)
Projected Population (2007)
Forecasted Population (2012)
Historical Annual Growth (1990 to 2000)
Historical Annual Growth (2000 to 2002)
Projected Annual Growth (2002 to 2007)
12,699
10,802
12,454
13,359
14,154
1,652
245
660
Est. Population Density (2002)
Trade Area Size
1.5%
1.0%
1.0%
4,025.15 psm
3.16 sq mi
98,119
86,466
96,485
102,617
108,183
10,018
1,634
4,498
1.2%
0.8%
0.9%
3,473.12 psm
28.25 sq mi
338,513
279,406
329,583
362,179
389,573
50,177
8,931
23,665
1.8%
1.4%
1.4%
4,310.73 psm
78.53 sq mi
Households
Estimated Households (2002)
Census Households (1990)
Census Households (2000)
Projected Households (2007)
Forecasted Households (2012)
Households with Children (2002)
Average Household Size (2002)
5,109
3,958
4,938
5,468
5,797
1,618 31.7%
2.42
39,573
32,506
38,525
41,877
44,135
13,448 34.0%
2.46
138,276
112,342
134,176
148,387
158,316
45,790 33.1%
2.43
Average Household Income
Est. Average Household Income (2002)
Proj. Average Household Income (2007)
$68,328
$72,173
$76,726
$84,447
$79,360
$88,991
Average Family Income (2002)
$77,993
$87,154
$92,168
Est. Median Household Income (2002)
Proj. Median Household Income (2007)
$65,432
$70,178
$72,032
$78,086
$69,072
$75,563
Median Family Income (2002)
$82,372
$84,419
$82,373
$27,491
$29,540
$2,049
7.5%
$30,944
$34,462
$3,518 11.4%
$32,417
$36,460
$4,043 12.5%
6.5%
$48,433
$52,253
$3,820
$46,456
$50,847
$4,391
Median Household Income
Per Capita Income
Est. Per Capita Income (2002)
Proj. Per Capita Income (2007)
Per Capita Income Est. 5 year change
Other Income
Est. Median Disposable Income (2002)
Est. Median Disposable Income (2007)
Disposable Income Est. 5 year change
$44,032
$46,891
$2,858
Est. Median Household Net Worth (2002)
$39,268
$41,073
7.9%
9.5%
$39,335
Daytime Demos
Total Number of Businesses (2002)
Total Number of Employees (2002)
Estimated Retail Sales (in $1,000s)
Average Payroll per Employee (2002)
Unemployment Rate (2002)
Employee Population per Business
Residential Population per Business
©2003, Sites USA, Tempe, Arizona, 480-491-1112
706
6,969
20,500
8,110
96,409
236,053
$229,588
$2,333,821
$6,394,227
$38,934
$43,539
$43,169
6.55%
5.83%
6.09%
11.5 to 1
13.8 to 1
11.5 to 1
18.0 to 1
14.1 to 1
16.5 to 1
- 1 of 5 -
Demographic Source: Applied Geographic Solutions 12/02
This report was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
Population
Prepared By
Lat/Lon: 32.9781/-96.7404
May 2003
RF5a
Richardson, TX
1.00 mi radius
3.00 mi radius
5.00 mi radius
White (2002)
Black or African American (2002)
Asian & Pacific Islander (2002)
American Indian & Alaska Native (2002)
Other Race (2002)
10,444 82.2%
462 3.6%
1,356 10.7%
43 0.3%
394 3.1%
77,300 78.8%
6,238 6.4%
9,188 9.4%
404 0.4%
4,989 5.1%
247,626 73.2%
33,775 10.0%
32,940 9.7%
1,473 0.4%
22,700 6.7%
Not Hispanic or Latino Population (2002)
Hispanic or Latino Population (2002)
Hispanic Origin: Mexican (2002)
Hispanic Origin: Puerto Rican (2002)
Hispanic Origin: Cuban (2002)
Hispanic Origin: Other Hispanic (2002)
Not of Hispanic Origin Population (1990)
Hispanic Origin Population (1990)
Hist. Hispanic Ann Growth (1990 to 2002)
Proj. Hispanic Ann Growth (2002 to 2007)
11,762
937
712
7
4
215
10,420
382
11,592
862
12,013
1,346
556
408
92.6%
7.4%
6.1%
0.1%
0.0%
1.8%
96.5%
3.5%
93.1%
6.9%
89.9%
10.1%
12.1%
8.7%
85,009
13,110
10,357
193
78
2,483
81,642
4,825
84,375
12,110
85,629
16,988
8,286
3,878
86.6%
13.4%
12.2%
0.2%
0.1%
2.9%
94.4%
5.6%
87.4%
12.6%
83.4%
16.6%
14.3%
5.9%
281,376
57,137
47,041
592
274
9,230
259,130
20,276
276,984
52,599
290,098
72,081
36,861
14,944
83.1%
16.9%
16.7%
0.2%
0.1%
3.3%
92.7%
7.3%
84.0%
16.0%
80.1%
19.9%
15.1%
5.2%
632
715
663
608
1,881
1,713
1,907
1,492
1,242
1,000
540
306
36.2
5.0%
5.6%
5.2%
4.8%
14.8%
13.5%
15.0%
11.7%
9.8%
7.9%
4.3%
2.4%
yrs
6,202
6,330
5,285
5,292
9,403
15,220
16,478
13,917
9,689
6,176
3,114
1,011
35.8
6.3%
6.5%
5.4%
5.4%
9.6%
15.5%
16.8%
14.2%
9.9%
6.3%
3.2%
1.0%
yrs
22,677
22,044
17,562
17,571
33,214
59,318
57,874
50,186
30,284
16,303
8,618
2,863
34.6
6.7%
6.5%
5.2%
5.2%
9.8%
17.5%
17.1%
14.8%
8.9%
4.8%
2.5%
0.8%
yrs
Female Population (2002)
Age 0 to 17 yrs (2002)
Age 18 to 49 yrs (2002)
Age 50 to 74 yrs (2002)
Age 75 yrs plus (2002)
Female Median Age (2002)
6,408
1,234
2,985
1,592
596
38.8
50.5%
19.3%
46.6%
24.9%
9.3%
yrs
49,251
11,152
23,650
11,865
2,584
37.1
50.2%
22.6%
48.0%
24.1%
5.2%
yrs
169,240
38,777
85,886
37,236
7,341
35.6
50.0%
22.9%
50.7%
22.0%
4.3%
yrs
Male Population (2002)
Age 0 to 17 yrs (2002)
Age 18 to 49 yrs (2002)
Age 50 to 74 yrs (2002)
Male Median Age (2002)
6,292
1,384
3,321
1,337
250
34.0
49.5%
22.0%
52.8%
21.3%
4.0%
yrs
48,869
11,959
24,733
10,636
1,541
34.6
49.8%
24.5%
50.6%
21.8%
3.2%
yrs
169,273
41,077
90,479
33,578
4,140
33.6
50.0%
24.3%
53.5%
19.8%
2.4%
yrs
Age Distribution
Age 0 to 4 yrs (2002)
Age 5 to 9 yrs (2002)
Age 10 to 13 yrs (2002)
Age 14 to 17 yrs (2002)
Age 18 to 24 yrs (2002)
Age 25 to 34 yrs (2002)
Age 35 to 44 yrs (2002)
Age 45 to 54 yrs (2002)
Age 55 to 64 yrs (2002)
Age 65 to 74 yrs (2002)
Age 75 to 84 yrs (2002)
Median Age (2002)
Gender Age Distribution
- 2 of 5 -
Race & Ethnicity
Prepared By
Lat/Lon: 32.9781/-96.7404
May 2003
RF5a
Richardson, TX
1.00 mi radius
3.00 mi radius
5.00 mi radius
HH Income $200,000 or More (2002)
HH Income $150,000 to $199,999 (2002)
HH Income $100,000 to $149,999 (2002)
HH Income $75,000 to $99,999 (2002)
HH Income $50,000 to $74,999 (2002)
HH Income $35,000 to $49,999 (2002)
HH Income $25,000 to $34,999 (2002)
HH Income $15,000 to $24,999 (2002)
HH Income $0 to $14,999 (2002)
128
196
1,211
708
662
529
536
426
713
2.5%
3.8%
23.7%
13.9%
13.0%
10.4%
10.5%
8.3%
14.0%
1,845
1,804
9,593
5,031
5,136
4,312
4,121
3,146
4,584
4.7%
4.6%
24.2%
12.7%
13.0%
10.9%
10.4%
8.0%
11.6%
HH Income $35,000+ (2002)
HH Income $75,000+ (2002)
3,433 67.2%
2,242 43.9%
27,721 70.1%
18,273 46.2%
5,317
5,109
3,177
1,933
207
4.8
41,806
39,573
22,787
16,786
2,233
4.8
6,666
6,444
31,237
16,016
17,995
15,384
15,866
12,013
16,654
4.8%
4.7%
22.6%
11.6%
13.0%
11.1%
11.5%
8.7%
12.0%
93,743 67.8%
60,364 43.7%
Housing
Total Housing Units (2002)
Housing Units, Occupied (2002)
Housing Units, Owner-Occupied (2002)
Housing Units, Renter-Occupied (2002)
Housing Units, Vacant (2002)
Median Years in Residence (2002)
96.1%
62.2%
37.8%
3.9%
yrs
94.7%
57.6%
42.4%
5.3%
yrs
148,133
138,276
71,520
66,755
9,857
4.2
93.3%
51.7%
48.3%
6.7%
yrs
Marital Status
Never Married (2002)
Now Married (2002)
Separated (2002)
Widowed (2002)
Divorced (2002)
2,983 28.7%
5,267 50.7%
518 5.0%
761 7.3%
860 8.3%
20,268 26.1%
42,293 54.4%
3,923 5.1%
3,519 4.5%
7,656 9.9%
74,019 27.7%
137,362 51.3%
15,611 5.8%
10,733 4.0%
29,726 11.1%
Population Family (2002)
Population Non-Family (2002)
Population Group Qtrs (2002)
9,271 73.0%
3,071 24.2%
357 2.8%
78,277 79.8%
19,049 19.4%
793 0.8%
263,445 77.8%
72,902 21.5%
2,167 0.6%
Family Households (2002)
Married Couple With Children (2002)
Average Family Household Size (2002)
Non-Family Households (2002)
3,206 62.7%
1,171 22.2%
2.89
1,904 37.3%
26,145 66.1%
9,851 23.3%
2.99
13,427 33.9%
86,145 62.3%
32,976 24.0%
3.06
52,131 37.7%
1,256
1,968
813
715
242
116
10,602
14,076
6,253
5,147
2,182
1,313
41,975
45,829
20,784
17,037
7,441
5,209
Household Type
Household Size
1 Person Household (2002)
2 Person Households (2002)
6+ Person Households (2002)
24.6%
38.5%
15.9%
14.0%
4.7%
2.3%
26.8%
35.6%
15.8%
13.0%
5.5%
3.3%
30.4%
33.1%
15.0%
12.3%
5.4%
3.8%
Household Vehicles
Total Vehicles Available (2002)
Household: 0 Vehicles Available (2002)
Household: 1 Vehicles Available (2002)
Household: 2+ Vehicles Available (2002)
Average Vehicles Per Household (2002)
8,705
338 6.6%
1,607 31.5%
3,164 61.9%
1.7
- 3 of 5 -
68,895
1,681 4.2%
13,840 35.0%
24,052 60.8%
1.8
230,177
6,517 4.7%
54,755 39.6%
77,003 55.7%
1.7
Household Income Distribution
Prepared By
Lat/Lon: 32.9781/-96.7404
May 2003
RF5a
Richardson, TX
1.00 mi radius
3.00 mi radius
5.00 mi radius
Labor: Population 16+ by Occupation (2002)
Executive & Managers (2002)
Professional & Specialty (2002)
Technical Support (2002)
Sales (2002)
Administrative Support (2002)
Private Household Services (2002)
Protective Services (2002)
Other Services (2002)
Farming, Forestry & Fishing (2002)
Precision Production & Craft (2002)
Machine Operator (2002)
Transportation & Material Moving (2002)
Laborers (2002)
Occupation: White Collar Workers (2002)
Occupation: Blue Collar Workers (2002)
6,519
1,200
1,322
317
995
1,240
17
77
509
13
399
180
131
118
18.4%
20.3%
4.9%
15.3%
19.0%
0.3%
1.2%
7.8%
0.2%
6.1%
2.8%
2.0%
1.8%
72.7%
27.3%
51,839
10,278
9,420
2,517
8,895
8,637
186
627
4,678
94
3,190
1,312
886
1,120
19.8%
18.2%
4.9%
17.2%
16.7%
0.4%
1.2%
9.0%
0.2%
6.2%
2.5%
1.7%
2.2%
72.4%
27.6%
180,432
35,786
31,470
8,820
30,002
30,109
637
2,192
16,584
297
12,110
5,236
3,063
4,128
19.8%
17.4%
4.9%
16.6%
16.7%
0.4%
1.2%
9.2%
0.2%
6.7%
2.9%
1.7%
2.3%
71.1%
29.0%
Consumer Expenditure (in $,000,000s)
Total Household Expenditure (2002)
Total Non-Retail Expenditures (2002)
Total Retail Expenditures (2002)
Apparel (2002)
Contributions (2002)
Education (2002)
Entertainment (2002)
Food And Beverages (2002)
Furnishings And Equipment (2002)
Gifts (2002)
Health Care (2002)
Household Operations (2002)
Miscellaneous Expenses (2002)
Personal Care (2002)
Personal Insurance (2002)
Reading (2002)
Shelter (2002)
Tobacco (2002)
Transportation (2002)
Utilities (2002)
$270
$157
$112
$15
$8
$5
$14
$44
$11
$8
$17
$8
$3
$5
$3
$1
$47
$2
$57
$21
58.3%
41.7%
5.5%
3.0%
1.7%
5.3%
16.5%
4.0%
3.0%
6.2%
3.1%
1.1%
1.7%
1.2%
0.5%
17.4%
0.9%
21.0%
7.8%
$2,266
$1,323
$943
$125
$69
$39
$120
$374
$91
$68
$140
$70
$26
$38
$26
$12
$392
$21
$476
$178
58.4%
41.6%
5.5%
3.0%
1.7%
5.3%
16.5%
4.0%
3.0%
6.2%
3.1%
1.1%
1.7%
1.2%
0.5%
17.3%
0.9%
21.0%
7.8%
$8,045
$4,697
$3,347
$444
$243
$139
$426
$1,328
$324
$241
$498
$249
$91
$136
$94
$43
$1,388
$74
$1,692
$634
58.4%
41.6%
5.5%
3.0%
1.7%
5.3%
16.5%
4.0%
3.0%
6.2%
3.1%
1.1%
1.7%
1.2%
0.5%
17.3%
0.9%
21.0%
7.9%
Educational Attainment
Adult Population (25 Years or Older) (2002)
Elementary (0 to 8) (2002)
Some High School (9 to 11) (2002)
High School Graduate (12) (2002)
Some College (13 to 16) (2002)
Associate Degree Only (2002)
Bachelor Degree Only (2002)
Graduate Degree (2002)
8,201
343 4.2%
445 5.4%
480 5.9%
2,149 26.2%
431 5.3%
2,690 32.8%
1,663 20.3%
- 4 of 5 -
65,606
3,279 5.0%
3,390 5.2%
3,841 5.9%
15,760 24.0%
4,126 6.3%
23,236 35.4%
11,975 18.3%
225,445
14,135 6.3%
15,089 6.7%
14,995 6.7%
55,767 24.7%
14,336 6.4%
73,849 32.8%
37,275 16.5%
Occupation
Prepared By
Lat/Lon: 32.9781/-96.7404
May 2003
RF5a
Richardson, TX
1.00 mi radius
3.00 mi radius
5.00 mi radius
1 Detached Unit (2000)
1 Attached Unit (2000)
2 to 4 Units (2000)
5 to 9 Units (2000)
10 to 19 Units (2000)
20 to 49 Units (2000)
50 or more Units (2000)
Mobile Home or Trailer (2000)
Other Structure (2000)
3,504 69.7%
89 1.8%
165 3.3%
123 2.4%
421 8.4%
377 7.5%
315 6.3%
0
0
23,894 59.9%
1,328 3.3%
2,206 5.5%
3,151 7.9%
3,071 7.7%
1,664 4.2%
4,514 11.3%
74 0.2%
11 0.0%
70,632 50.3%
5,606 4.0%
9,155 6.5%
15,302 10.9%
12,654 9.0%
6,614 4.7%
20,151 14.4%
271 0.2%
95 0.1%
74 1.5%
541 10.8%
397 7.9%
298 5.9%
831 16.5%
2,422 48.2%
375 7.5%
54 1.1%
463
3,970
2,202
7,118
11,306
10,319
3,958
577
1.2%
10.0%
5.5%
17.8%
28.3%
25.9%
9.9%
1.4%
2,500 1.8%
12,781 9.1%
11,358 8.1%
42,230 30.1%
44,836 31.9%
19,260 13.7%
6,043 4.3%
1,471 1.0%
2 0.1%
6 0.2%
15 0.5%
35 1.2%
262 8.8%
471 15.8%
1,186 39.8%
926 31.1%
65 2.2%
3 0.1%
12 0.4%
$125,530
$769
14
83
113
520
2,913
5,074
7,584
3,933
580
102
83
$145,433
$710
0.1%
0.4%
0.5%
2.5%
13.9%
24.2%
36.1%
18.7%
2.8%
0.5%
0.4%
Homes Built By Year
Homes Built 1999 to 2000
Home Values
Home Values $1,000,000 or More (2000)
Home Values $500,000 to $999,999 (2000)
Home Values $400,000 to $499,999 (2000)
Home Values $300,000 to $399,999 (2000)
Home Values $200,000 to $299,999 (2000)
Home Values $150,000 to $199,999 (2000)
Home Values $100,000 to $149,999 (2000)
Home Values $75,000 to $99,999 (2000)
Home Values $50,000 to $74,999 (2000)
Home Values $25,000 to $49,999 (2000)
Home Values $0 to $24,999 (2000)
Owner Occupied Median Home Value (2000)
Renter Occupied Median Rent (2000)
213
1,340
1,112
2,475
8,337
13,633
21,524
11,716
2,643
656
253
$158,800
$685
0.3%
2.1%
1.7%
3.9%
13.0%
21.3%
33.7%
18.3%
4.1%
1.0%
0.4%
Transportation To Work
Drive to Work Alone (2000)
Drive to Work in Carpool (2000)
Travel to Work - Public Transportation (2000)
Drive to Work on Motorcycle (2000)
Walk or Bicycle to Work (2000)
Other Means (2000)
Work at Home (2000)
5,260 80.8%
496 7.6%
49 0.7%
4 0.1%
453 7.0%
4 0.1%
246 3.8%
42,144 80.6%
5,397 10.3%
1,033 2.0%
31 0.1%
1,228 2.3%
228 0.4%
2,251 4.3%
2,040
2,385
1,609
231
22.7
13,836
20,444
13,623
2,156
22.3
143,959 79.2%
21,603 11.9%
3,755 2.1%
158 0.1%
3,552 2.0%
1,520 0.8%
7,231 4.0%
Travel Time
Travel to Work in 14 Minutes or Less (2000)
Travel to Work in 14 to 29 Minutes (2000)
Travel to Work in 30 to 59 Minutes (2000)
Travel to Work in 60 Minutes or More (2000)
Average Travel Time to Work (2000)
- 5 of 5 -
32.6%
38.1%
25.7%
3.7%
mins
27.6%
40.8%
27.2%
4.3%
mins
44,374
70,231
51,988
7,954
23.2
25.4%
40.2%
29.8%
4.6%
mins
Units In Structure
Richardson, Texas
2002 Community Profile
Dallas & Collin Counties
TRANSPORTATION
AIR SERVICE
Nearest Airport:
Runway Length:
Runway Surface:
Lighted:
Fuel:
Instrum. Landing Sys.:
Airport Within 1 Hr.
International:
Regional:
Municipal:
Richardson
Addison
7,200 ft.
Hard
Yes
Yes
Yes
DFW International
Dallas Love Field
Addison
FREIGHT CARRIERS
Richardson is served by more than 60 interstate and 10
intrastate carriers. Nine freight lines out of Dallas serve the
Richardson area on call.
City of Richardson, Counties of Dallas & Collin,
State of Texas, located adjacent to the northern
boundary of the Dallas city limits
POPULATION
Year
City
Dallas County
Collin County
2001
91,802
2,218,899
491,675
2000 Census
91,802
2,218,899
491,675
1990
74,840
1,852,810
264,036
INCENTIVES
Tax Abatement:
Enterprise Zone:
Industrial Foundation:
Foreign Trade Zone:
Reinvestment Zone:
Freeport Exemption:
Other:
Yes
No
Yes
No
No
Yes
RAIL SERVICE
Provider:
Southern Pacific (Cotton
Belt); Kansas City Southern
TAXATION
TAX RATE (PER $100 ASSESSED VALUE) – Oct. 2001
$ 0.196000 / $ 0.250000
Dallas County/Collin County:
0.443850
Richardson, City:
1.799300
/
1.628500
Richardson ISD/Plano ISD:
0.319525
/
0.092843
Special Districts: (Hospital,
College, etc.)
$ 2.758675 / $ 2.415193
TOTAL:
Municipal Sales Tax:
State Sales Tax:
Econ. Dev. Sales Tax:
Other Sales Taxes:
1%
6-1/4%
%
1%
DART
Oncor Economic Development Department
(214) 486-5456 (Fax)
(800) 421-2489 (Inside US)
www.locationtexas.com (web page)
(214) 486-5001 (Outside US)
[email protected] (e-mail)
Oncor ED Dept. uses reasonable efforts to include accurate and up-to-date information in this profile; we make no warranties as to the accuracy of the material. We assume no
liability or responsibility for any errors or omissions in the content of this profile.
Revised: 9/2002
Richardson, Texas
WAGE DATA
OCCUPATIONAL TITLE
Low
Production Classifications:
Aircraft Assembler
Aircraft Mechanic
Assembler, General
Assembler, Mobile Homes
Electrician
Electronics Assembler
Forklift Operator
Janitor, any industry
Laborer, General
Machinist/Related Occup.
Maintenance, General
Mechanic (Maintenance)
Molding Machine Operator
Semiconductor Processor
Sewing Machine (Garment)
Sheet Metal Worker
Truck Driver, Lt., any ind.
Warehouse Worker
Welder, Production
UTILITIES
Entry Level
High
5.95
11.91
Oncor
NATURAL GAS:
BTU Content Per Cubic Foot:
TXU Gas
1,050
TELEPHONE SERVICE:
Digital:
Analog:
Electromechanical:
Make and Model:
Software Level:
Fiber Optics:
Switched 56 KBPS:
High Capacity Digital (T-1):
Digital Data Service:
911:
Other Network Services:
Plexar ISDN
Southwestern Bell
Yes
Yes
No
AT&T 5ESS
2
Yes
Yes
Yes
Yes
Yes
99.9721%
69 KV 138 KV 345 KV
120/208 120/240
240/480 277/480
5.95
12.25
5.95
5.95
8.40
5.93
Office, Clerical and Technical
Accountant/Auditor
Computer Operator
Computer Programmer
Customer Service Rep.
Electronic Technician
General Office Clerk
Key Data Entry Oper.
Secretarial
Shipping & Rec. Clerk
Telemarketing
9.33
11.00
WATER SUPPLIER:
12.25
5.95
8.33
5.95
GOVERNMENT, CITY
Type:
Number on Council:
Municipal Police:
Paid Firemen:
Volunteers:
City Zoning Body:
Master Plan:
ELECTRIC ENERGY
DELIVERY:
Reliability:
Transmission Voltage:
Service Voltage:
Council / Manager
7
149
133
0
Yes
Yes
Source:
Max. System Capacity (daily):
Max. Daily Use To Date:
Pressure on Mains:
Storage Capacity:
Size of Mains:
System Looped:
Projects Under Const.:
SEWER SYSTEM:
Type Treatment Plant:
Maximum Capacity:
Max. Daily Use To Date:
Projects Under Const.:
North Texas Municipal
Water District
Lake Lavon
59,100,000 gallons
48,170,000 gallons
25 – 82 PSI
30,250,000 gallons
4” – 36”
Yes
Extended Aeration;
Secondary to tertiary
41,400,000 gallons
18,615,000 gallons
(214) 486-5456 (Fax)
(800) 421-2489 (Inside US)
(214) 486-5001 (Outside US)
Revised: 9/2002
Richardson, Texas
COMMUNITY INFORMATION (cont’d)
EDUCATION
RICHARDSON ISD
Public School Budget:
Elementary:
Intermediate:
Middle/Jr. High:
High Schools:
Private:
Special/Head Start:
Schools
39
$ 232,598,670
Enrollment
19,281
11
6
8,007
7,057
AREA UNIVERSITIES/COLLEGES:
Collin County Community College, Plano
Richland Community College, Dallas
University of Texas at Dallas, Richardson
Southern Methodist University, School of Engineering and
Applied Science – Richardson
State Industrial Job Training:
Vocational Program:
RECREATION
26
Parks:
3
Area Lakes:
1
Country Clubs:
3
Health Centers:
2
Public Golf Courses:
8
Theaters:
30
Tennis Courts:
Bed & Breakfast Facilities:
1,810
Hotel & Motel Rooms:
1
Libraries:
Other:
5 – public pools; 2 – recreation centers, 1 – senior
center
AREA ATTRACTIONS:
Yes
Yes
COMMUNITY INFORMATION
HEALTH CARE
Total Hospital Beds in City:
Total Doctors (medical) in City:
MEDIA
Papers:
164
200
1 – daily,
1 – biweekly
Radio Stations:
TV Stations/TV Cable:
1 – Local/
Yes
CHURCHES
Assembly of God, Baptist, Catholic, Christian Science,
Church of Christ, Church of Jesus Christ of Latter Day
Saints, Church of the Nazarene, Disciples of Christ,
Episcopal, Jewish, Lutheran, Methodist, Moslem,
Pentecostal, Presbyterian, Seventh Day Adventist, Unity
CLIMATE
Annual Average Temperature:
Mo. Average High Temperature:
Mo. Average Low Temperature:
Annual Average Precipitation:
Annual Average Snowfall:
Elevation:
66 F
76.9 F
55 F
33.7”
2.6”
382’ – 584’
FINANCE
Bank of America, Bank One, Brookhollow National Bank,
Canyon Creek National Bank, Comerica Bank, Compass
Bank, Guaranty Federal Bank, Inwood National Bank, Oaks
Bank & Trust Company, Texas Commerce Bank, Washington
Mutual, Wells Fargo Bank
(214) 486-5456 (Fax)
(800) 421-2489 (Inside US)
(214) 486-5001 (Outside US)
Revised: 9/2002
Richardson, Texas
MAJOR AREA EMPLOYERS
EMPLOYER
PRODUCT
EMPLOYEES
Alcatel
Baylor/Richardson Medical Center
Blue Cross-Blue Shield
Citicorp
City of Richardson
Connectware, Inc.
Cyrix
Dal-Mac
Dickens Data Systems
Ericsson Inc.
Fossil, Inc.
Fujitsu America
H-R Industries
Hewlett-Packard
Hewlett-Packard Convex Div.
Honeywell
Intervoice
J.C. Penney Life Insurance
Lennox
MCI
Micrografx, Inc.
Nortel
Orthofix
Owens Country Sausage
Phillips Driscopipe Inc.
Raytheon E-Systems
Richardson ISD
Rockwell International
Samsung
Siemens Wireless Terminals
Trident Company
Twin Star
US Data
University of Texas at Dallas
Microwave electronics
Hospital
Insurance
Collection credit service
City government
Network software integrator
Integrated circuits
Commercial construction
Software distributor
Switching equipment
Watches, leather products
PC boards
Circuit boards
Component assembly
Super computers
Components
Interactive voice response
Insurance telemarketing
Heat/AC equipment
Telecommunications
Graphic software
Switching equipment
Medical software
Food products
Pipe manufacturer
Command control systems
School district
Microwave electronics
Telecommunications
Telecommunications
Metal distributors
Semiconductors
Computer equipment
Education
2,800
750
3,000
590
985
150
400
150
400
2,900
500
2,000
350
300
650
400
610
300
500
4,300
175
8,000
180
285
500
1,100
3,810
750
300
300
165
500
230
1,879
UNION AFFILIATION
IUEW
(214) 486-5456 (Fax)
(800) 421-2489 (Inside US)
(214) 486-5001 (Outside US)
Revised: 9/2002
Quick Comp Report
Search Criteria:Research Status: Published,Unpublished,Non-Arms Length; County: Collin, Dallas; PropType: RET; PropUse:
R19; SaleDate: 1/1/2001 and later; SqFt: 3,000-20,000;
Kids R Kids Pre-School/Day Care
Facility
2990 Regent Blvd
Irving, TX 75063 -3139
Research Status: Published
Year Built:
1998
Sale Price:
$2,000,000
SF:
Land SF:
Parcel:
Comps No: DAC-37928-07-0120
Map:
11A-X
Zoning:
ML20, Irving
Exchange:
No
Sale Date:
03/26/2001
Down Payment: $275,000
Cap Rate:
N/Av
Price/SF:
$159.69
12,524
98,881
324608800C0010000
Lot 1 blk C of Royal Business Park Fifteenth
Legal:
Installment City of Irving vol 85172 pg 233
Buyer:
Seller:
Amenities
KRK Texas Properties
2990 Regent Blvd
801 Maplewood Dr Ste. 14
Irving, TX 75063
Jupiter, FL 33458
(972) 831-0010
(561) 575-3475
Financing:
Vine Street Trust
Bal:$725,000
Commercial Capital Corp.
Bal:$1,000,000
Pebblecreek Montessori PreSchool/Day Care Facility
3901 Pebblecreek Ct
Plano, TX 75023
Year Built:
2001
Sale Price:
$1,385,000
SF:
Land SF:
Parcel:
Comps No: CNC-73496-12-0120
Map:
657-B
Zoning:
PD-140-O-2, Plano
Exchange:
No
Sale Date:
06/29/2001
Cap Rate:
N/Av
Price/SF:
$153.89
9,000
55,000
R2070954
Lot 5 blk 1 of Pebblecreek Addition City of Plano cab K
Legal:
pgs 871 & 872
Buyer:
Seller:
Plano Montessori Associates, Inc.
MCG Construction, Inc.
3901 Pebblecreek Ct
4757 W Park Rd Ste. 106
Plano, TX 75023
Plano, TX 75093
(972) 208-2111
(972) 596-0692
Financing:
First Nat Bk of Van Alstyne
Bal:$1,312,868
Richardson Learning Center PreSchool/Day Care Facility
1006 Hampshire Ln
Richardson, TX 75080
Year Built:
1980
Sale Price:
$995,000
SF:
Land SF:
Parcel:
Comps No: DAC-28655-08-0220
Map:
7-W
Zoning:
CM, Richardson
Exchange:
No
Sale Date:
05/31/2002
Cap Rate:
N/Av
Price/SF:
$103.99
9,568
58,911
08650001006000000,601,602
Lots 5 & 6 Hampshire Shopping Center City of
Legal:
Richardson
Buyer:
Seller:
DCM Properties
Richardson Learning Center
1006 Hampshire Ln
923 Vinecrest Ln
(972) 238-1444
Financing:
Amresco Independence Funding
Bal:$695,000
Seller
Bal:$250,000
Copyright© 1999-2002 CoStar Realty Information, Inc. All rights reserved. Information obtained from sources deemed
reliable but not guaranteed. Phone: (800) 204-5960
Fair Oaks Day School PreSchool/Day Care Facility
7825 Fair Oaks Ave
Dallas, TX 75231 -4603
Year Built:
1988
Sale Price:
$810,000
SF:
Land SF:
Parcel:
Comps No: DAC-48388-12-0220
Map:
26-R
Zoning:
PD231, Dallas
Exchange:
No
Sale Date:
07/31/2002
Cap Rate:
N/Av
Price/SF:
$98.44
8,228
57,151
0052150B000010000
Lot 1 blk B/5215 Fair Oaks Private School Add City of
Legal:
Dallas
Buyer:
Seller:
Rainbow Learning Unlimited
Eda Bear, Inc.
4017 Lakeside Dr
1206 Cardigan St
The Colony, TX 75056-0000
Garland, TX 75040
(972) 370-1262
(972) 495-4813
Financing:
JPMorgan Chase Bank
Bal:$805,000
Childtime Children Center PreSchool/Day Care Facility
1460 Eastglen Blvd
Mesquite, TX 75149
Year Built:
1987
Sale Price:
$700,000
SF:
Land SF:
Parcel:
Comps No: DAC-05684-06-0120
Map:
50-X
Zoning:
GR, Mesquite
Exchange:
No
Sale Date:
01/04/2001
Down Payment: N/Av
Cap Rate:
14.05%
Price/SF:
$74.91
9,344
93,872
380601500B78BR000,1 38060150000780000,100
Land in the Thomas Scott Survey Abstract 1353 aka
Legal:
all of lot 78-BR & por lot 78 East Glen Phase I City of
Mesquite vol 94095 pg 4010
Buyer:
Seller:
Beary Best Academy of Mesquite,
Half
Inc
100 W Central Expy Ste. 100
7400 Kings Ridge Rd
Harker Heights, TX 76548
Frisco, TX 75035-2969
(254) 699-2323
(972) 712-2900
Financing:
Private
Bal:$990,000
Mona Montessori Pre-School/Day
Care Facility
1417 Ismaili Center Cir
Carrollton, TX 75006
Year Built:
1989
Sale Price:
$595,000
SF:
Land SF:
Parcel:
Comps No: DAC-37060-06-0320
Map:
2-N
Zoning:
SUP, Carrollton
Exchange:
Tax Dfrrd
Sale Date:
02/07/2003
Cap Rate:
N/Av
Price/SF:
$65.24
9,120
32,400
141073600003A0000
Lot 3A of lots 3A & 3B Trinity Mills Industrial Park vol
Legal:
89105 pg 4757
Buyer:
Seller:
Symona, Inc.
Jimmy Young Lee
3308 Caravan Dr
1300 Walnut St
Plano, TX 75025
Carrollton, TX 75006-6281
(972) 618-1726
(972) 242-0464
Financing:
Seller
Bal:$457,000
Lil' Rascals Learning Center PreSchool/Day Care Facility
2424 Baker Dr
Mesquite, TX 75150 -5145
Year Built:
1985
Sale Price:
$570,000
SF:
Land SF:
Parcel:
Comps No: DAC-11711-03-0220
Map:
49-C
Zoning:
C, Mesquite
Exchange:
No
Sale Date:
11/30/2001
Down Payment: N/Av
Cap Rate:
N/Av
Price/SF:
$115.67
4,928
68,115
38073600010050000 65146263310100200
Lot 5 blk 1 Eastridge Park #9 & land in Daniel Tanner
Legal:
Survey Abstract 1462
Buyer:
Seller:
Lil' Rascals Learning Center, Inc.
Ronny K Jones
2424 Baker Dr
609 Parkhaven Dr
Mesquite, TX 75150-4057
Mesquite, TX 75149
(972) 681-2177
(972) 288-8322
Financing:
Comerica Bank
Bal:$579,000
Comps No: CNC-04100-07-0220
716 E Main St
Allen, TX 75002 -3119
Year Built:
1975
Sale Price:
$360,000
SF:
Land SF:
Parcel:
Map:
560-F
Zoning:
SC, Allen
Exchange:
N/Av
Sale Date:
02/27/2002
Cap Rate:
N/Av
Price/SF:
$80.07
4,496
43,215
R514189
Land in David Wetsel Survey Abstract 977 vol 1016
Legal:
pg 843 (aka trt 11)
Buyer:
Seller:
Mahmood Rad
Edith Molnar
2707 W 15th St
1901 Normandy Dr
Plano, TX 75075
(972) 359-0909
(972) 644-2966
Financing:
Bank of America
Bal:$350,264
Monessori Academy Pre-School/Day
Comps No: CNC-02629-01-0320
Care Facility
513 N Central Expy
McKinney, TX 75070 -3525
Year Built:
1988
Sale Price:
$350,000
SF:
Land SF:
Parcel:
Map:
67-H
Zoning:
C, McKinney
Exchange:
No
Sale Date:
08/16/2001
Cap Rate:
N/Av
Price/SF:
$81.70
4,284
27,442
A690424
Lot 2 Wood Creek Plaza in W. D. Thompson Abstract
Legal:
891 City of McKinney vol G pg 431
Buyer:
Seller:
Symona, Inc.
Montessori Properties
3308 Caravan Dr
1416 Mockingbird
Plano, TX 75025
Plano, TX 75025
(972) 618-1726
(972) 542-5825
Financing:
Compass Bank - Austin
Bal:$334,000
Play-n-Learn Christian Academy
Pre-School/Day Care Facility
9510 Military Pkwy
Dallas, TX 75227 -4715
Year Built:
1971
Sale Price:
$280,000
SF:
Land SF:
Parcel:
Comps No: DAC-21608-04-0120
Map:
49-T
Zoning:
CR-D, Dallas
Exchange:
No
Sale Date:
02/16/2001
Down Payment: N/Av
Cap Rate:
N/Av
Price/SF:
$43.89
6,380
43,561
00000631833000000
Lot 2 blk A/6786 of John C. Gibson Co., Inc. Addition
Legal:
City of Dallas
Buyer:
Seller:
Bennett O Oputa
Uday Shah
9510 Military Pkwy
P.O. Box 836423
Dallas, TX 75227-4715
(214) 381-7529
Financing:
Chase Manhattan Bank
Bal:$300,000
Primrose School of West Allen PreComps No: CNC-15476-04-0320
School/Day Care Facility
106 Tatum Dr
Allen, TX 75013
Year Built:
1997
Sale Price:
N/Av
Map:
559-E
Zoning:
CF, Allen
Exchange:
No
Sale Date:
12/01/2002
Down Payment: N/Av
Cap Rate:
N/Av
Price/SF:
N/Av
SF:
8,316
Land SF:
60,000
Parcel:
R2053099
Legal:
Lot 1 blk A Primrose Add vol J pg 747
Buyer:
Seller:
Tass Properties
Pre School Properties, Inc.
106 Tatum Dr
18708 Fortson
Allen, TX 75013
Dallas, TX 75252
(972) 359-8805
(972) 964-7413
Financing:
Zions First Nat'l Bk
Bal:$1,000,000
Timberbend Academy PreSchool/Day Care Facility
208 S Allen Heights Dr
Allen, TX 75002 -3905
Year Built:
1985
Sale Price:
N/Av
SF:
Land SF:
Parcel:
Comps No: CNC-99965-07-0220
Map:
99-H
Zoning:
PD1, Allen
Exchange:
N/Av
Sale Date:
03/28/2002
Down Payment: N/Av
Cap Rate:
N/Av
Price/SF:
N/Av
6,072
23,008
R1752482
Lot 1 blk A of Timberbend Academy Addition city of
Legal:
Allen
Buyer:
Seller:
Columbia Realty Partners II
Wanda J Lawrence
5208 Tanbark Rd
P.O. Box 527
Dallas, TX 75229-5553
Allen, TX 75013
(214) 378-8010
Financing:
Washington Mutual Bank
Bal:$484,000
Seller
Bal:$580,300
Childrens Choice Day Care PreSchool/Day Care Facility
1616 G Ave
Plano, TX 75074 -5727
Year Built:
1955
Sale Price:
N/Av
Comps No: CNC-86450-11-0120
Map:
114-S
Zoning:
UR SUP134, Plano
Exchange:
N/Av
Sale Date:
08/10/2001
Down Payment: N/Av
Cap Rate:
N/Av
Price/SF:
N/Av
SF:
7,999
Land SF:
53,419
Parcel:
R13268
Legal:
Lot 1 blk 1 Sonshine Corners Addition city of Plano
Buyer:
Seller:
Cassidy Group, Inc.
The Childrens Choice, Inc.
3220 Cassidy Dr
1616 G Ave
Plano, TX 75023
Plano, TX 75074-5727
(972) 423-4328
(972) 447-9669
Financing:
Amresco Independence Funding
Bal:$1,098,000
Primose School of Prestmond Pre-School/Day
Comps No:
Care Facility
4115 Ohio Dr
Frisco, TX 75035 -5704
Research Status:
Non Arms Length
Year Built:
1997
Sale Price:
N/Av
CNQ-60450-02-0320
Map:
Zoning:
D3, Frisco
Exchange:
N/Av
Sale Date:
09/30/2002
Down Payment:
N/Av
Cap Rate:
N/Av
Price/SF:
N/Av
SF:
8,504
Land SF:
59,999
Parcel:
R2056267
Legal:
Lot 1 blk A Primrose at Prestmont Place Add
Buyer:
Seller:
Dalton Education Group
M/M Tod M Percle
9600 Royal Lytham Dr
Plano, TX 75025
(214) 393-0667
Financing:
Berne Academy & First Step PreSchool/Day Care Facility
1311 Johns Ave
Lancaster, TX 75134 -3126
Year Built:
1989
Sale Price:
N/Av
SF:
Land SF:
Parcel:
Photo not Available
Comps No: DAC-88595-01-0220
Map:
76-X
Zoning:
S, Lancaster
Exchange:
N/Av
Sale Date:
08/24/2001
Down Payment: N/Av
Cap Rate:
N/Av
Price/SF:
N/Av
11,684
198,869
200348000A01R0000 360045000B11R0000,1
Lot 11R blk B Replat of lots 11-13 blk B Bellaire Acres
Legal:
Addn and lot 1R in blk A of lot 1RR Replat of Franks
Addn City of Desoto
Buyer:
Seller:
Dennis Bolding
J.B.M. Enterprises, Inc.
620 Missionary Ridge
1719 Beaver Creek Dr
Desoto, TX 75115
Duncanville, TX 75137
(972) 274-1876
Financing:
First State Bank
Bal:$1,340,000
Apple Tree Acres Day Care Pre-School/Day
Care Facility
1040 N Bryan Belt Line Rd
Mesquite, TX 75149 -2566
Research Status:
Published
Year Built:
1982
Sale Price:
N/Av
Comps No:
DAC-69703-03-0320
Map:
49A-R
Zoning:
C, Mesquite
Exchange:
No
Sale Date:
10/29/2002
Down Payment:
N/Av
Cap Rate:
N/Av
Price/SF:
N/Av
SF:
10,658
Land SF:
46,665
Parcel:
38153570010010000 38153570010020000
Legal:
Lots 1 & 2 Replat Park Place Commercial vol 82045 pg 2327
Buyer:
Seller:
Sheldon J. & Glenda I. Harrison
M/M Danny & Bonnie Clark
1255 Narrow Ln
1129 Lakeview Dr
Red Oak, TX 75154-0000
Mesquite, TX 75149-5813
(972) 617-7671
Financing:
First Bank & Trust
Bal:$480,000
Photo not Available
Comps No: DAC-33342-04-0220
5608 Northaven Rd
Dallas, TX 75230 -2976
Year Built:
1957
Sale Price:
N/Av
Map:
25-A
Zoning:
SUP405, Dallas
Exchange:
No
Sale Date:
11/30/2001
Down Payment: N/Av
Cap Rate:
N/Av
Price/SF:
N/Av
SF:
9,888
Land SF:
85,450
Parcel:
00000578542500000
Legal:
Lot 1 Blk 2/6388 A Subdiv
Buyer:
Seller:
Issac Mayer Wise Academy
Peje
5608 Northaven Rd
5720 LBJ Fwy Ste. 600
Dallas, TX 75229
Dallas, TX 75243
(214) 739-3636
(972) 385-8092
Financing:
Seller
Bal:$776,583
By The Barnyard Gate PreSchool/Day Care Facility
1521 Rowlett Rd
Garland, TX 75043 -1933
Year Built:
1986
Sale Price:
N/Av
SF:
Land SF:
Parcel:
Comps No: DAC-91471-05-0220
Map:
40-B
Zoning:
AG, Garland
Exchange:
No
Sale Date:
12/31/2001
Down Payment: N/Av
Cap Rate:
N/Av
Price/SF:
N/Av
3,800
23,853
26532700010010000
Lot 1 blk 1 Richard Simpsoon Addition vol 84233 pg
Legal:
2180 City of Garland
Buyer:
Seller:
Whistle Stop Station
Western Bank & Trust
2501 Hickox
1200 Main
Rowlett, TX 75088
Garland, TX 75040
(972) 412-7036
(972) 494-2265
Financing:
Western Bank & Trust
Bal:$675,000
The Wise Academy Pre-School/Day
Comps No: DAC-88598-11-0120
Care Facility
5608 Northaven Rd
Dallas, TX 75230 -2976
Year Built:
1957
Sale Price:
N/Av
Map:
25-A
Zoning:
SUP405, Dallas
Exchange:
N/Av
Sale Date:
08/29/2001
Down Payment: N/Av
Cap Rate:
N/Av
Price/SF:
N/Av
SF:
9,888
Land SF:
85,545
Parcel:
00000578542500000
Legal:
Lot 1 blk 2/6388 Northhaven Park No. 2 City of Dallas
Buyer:
Seller:
Peje
Gold Claw Properties, Inc.
5580 LBJ Fwy Ste. 600
18736 Wainsborough Ln
Dallas, TX 75243
Dallas, TX 75287
(972) 385-8092
(972) 250-1870
Financing:
Seller
Bal:$523,417
Approved by the Texas Real Estate Commission for Voluntary Use
Texas law requires all real estate licensees to give the following information
about brokerage services to prospective buyers, tenants, sellers and landlords.
Information About Brokerage Services
B
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 broker's obligations as an
intermediary. The broker is required to treat each party
honestly and fairly and to comply with The Texas Real Estate
License Act. A broker who acts as an intermediary in a
transaction:
(1) shall treat all parties honestly;
(2) may not disclose that the owner will accept a price
less than the asking price unless authorized inw riting to
do so by the owner;
(3) may not disclose that the buyer will pay a price
greater than 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 authorized 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
information materially relates to the condition of the
property.
With the parties' consent, a broker acting 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 communicate with and carry out instructions of
one party and another person who is licensed under that Act
and associated with the broker to communicate with and
carry out instructions of the other party.
efore working with a real estate broker, you should
know that the duties of a broker depend on whom the
broker represents. If you are a prospective seller or
landlord (owner) or a prospective buyer or tenant
(buyer), you should know that the broker who lists the
property for sale or lease is the owner's agent. A broker who
acts as a subagent represents the owner in cooperation with
the listing broker. A broker who acts as a buyer's agent
represents the buyer. A broker may act as an intermediary
between the parties if the parties consent in writing. A broker
can assist you in locating a property, preparing a contract or
lease, or obtaining financing without representing you. A
broker is obligated by law to treat you honestly.
IF THE BROKER REPRESENTS THE OWNER:
The broker becomes 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
an offer of subagency from the listing broker. A subagent may
work in a different real estate office. A listing 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 owner's agent anything the buyer
would not want the owner to know because an owner's agent
must disclose to the owner any material information known
to the agent.
IF THE BROKER REPRESENTS THE BUYER:
The broker becomes the buyer's agent by entering into an
agreement to represent the buyer, usually through a written
buyer representation agreement A buyer's agent can assist
the owner but does not represent the owner and must place
the interests of the buyer first. The owner should not tell a
buyer's agent anything the owner would not want the buyer
to know because a buyer's agent must disclose to the buyer
any material information known to the agent.
If you choose to have a broker represent you,
you should enter into a written agreement with the broker
that clearly establishes the broker's obligations and your
obligations. The agreement should state how and by whom
the broker will be paid. You have the right to choose the type
of representation, if any, you wish to receive. Your payment
of a fee to a broker does not necessarily establish that the
broker represents you. If you have any questions regarding
the duties and responsibilities of the broker, you should
resolve those questions before proceeding.
IF THE BROKER ACTS AS AN INTERMEDIARY:
A broker may act as an intermediary between the parties if
the broker complies with The Texas Real Estate License Act.
Real estate licensees asks that you acknowledge receipt of this information about brokerage services for the licensee's records.
Buyer, Seller, Landlord or Tenant
Date
Texas Real Estate Brokers and Salesmen are licensed and regulated by the Texas Real Estate Commission (TREC). If y ou have a question or comp laint
regarding a real estate licensee, y ou should contact TREC at P.O. Boc 12188, Ausin, Texas 78711-2188 or 512-465-3960.
Realty One Software, PO Box 2489, Amarillo, TX 79105 (888) 383-8515
038
Provided by: Broker 03/26/2003
ID: blank 1
N O R TH TE X AS C O M M E R C IAL A SSO C IATIO N
C O M M E R C IAL C O N TR AC T O F
OF
R E AL TO R S ®
SAL E
[Check all boxes applicable to this Contract - Boxes not checked do not apply to this Contract]
In consideration of the terms, provisions, covenants and agreements contained in this Commercial Contract of Sale (the
"Contract"), each of the parties to this Contract agrees as follows:
("Seller")
("Purchaser")
1. PARTIES.
shall sell and convey to
and Purchaser shall buy and pay for the Property (defined below).
2. PROPERTY. Being a
with an address of
in the City of
,
County, Texas, further described as:
or as described in Exhibit "A", LEGAL DESCRIPTION and/or shown on Exhibit "B", SITE PLAN, together with, all and
singular, all improvements and fixtures situated thereon, and all rights and appurtenances pertaining thereto, including any right,
title and interest of Seller in and to adjacent streets, alleys, or rights-of-way (such real estate, improvements, fixtures, rights and
appurtenances being collectively herein referred to as the "Property").
3.
PURCHASE PRICE.
The purchase price for the Property is $
payable as follows:
(the "Purchase Price"),
A. The Purchase Price will be adjusted up or down based upon the land area of the Property as determined by the
Survey. The land area will be multiplied by $
per square foot and the product will
become the Purchase Price at Closing. The land area for purposes of determining the Purchase Price will be the
gross land area of the Property unless this box is checked, in which case the land area for purposes of determining
the Purchase Price will be the Net Land Area (as defined in Section 5A) of the Property.
B. Cash payable at Closing: $
.
C. The balance of the Purchase Price will be paid according to the provisions in Addendum B-1, THIRD PARTY
FINANCING or Addendum B-2, SELLER FINANCING.
4.
EARNEST MONEY AND TITLE COMPANY ESCROW.
A. Earnest Money. Within two (2) business days after the Effective Date of this Contract, Purchaser shall deposit earnest
money in the form of a certified check, cashier's check or wire transfer in the amount of $
(the "Earnest Money") payable to
(the "Title Company"), in its capacity as escrow agent, to be held in escrow pursuant to the terms of this Contract. Seller's
acceptance of this Contract is expressly conditioned upon Purchaser's timely deposit of the Earnest Money with the Title
Company. If Purchaser fails to timely deposit the Earnest Money, Seller may, at Seller's option, terminate this Contract by
delivering a written termination notice to Purchaser before Purchaser deposits the Earnest Money. The Title Company shall
deposit the Earnest Money in one or more fully insured accounts in one or more Federally insured banking or savings institutions.
After receipt of necessary tax forms from Purchaser, the Title Company shall deposit the Earnest Money in an interest bearing
account unless this box is checked, in which case the Title Company will not be required to deposit the Earnest Money in an
interest bearing account. Any interest earned on the Earnest Money will become a part of the Earnest Money. At the Closing,
the Earnest Money will be applied to the Purchase Price.
Notwithstanding anything herein to the contrary, a portion of the Earnest Money in the amount of $100.00 will be
non-refundable and will be distributed to Seller upon any termination of this Contract as full payment and independent
©Copyright 1999 NTCAR - Form No. 1 (8/99)
Page 1
Realty One Software, P.O. Box 2489, Amarillo, Texas 79105, (888) 383-8515
ID: blank
consideration for Seller's performance under this Contract. If this Contract is properly terminated by Purchaser pursuant to a right
of termination granted to Purchaser by any provision of this Contract, the Earnest Money, less the non-refundable portion, will
be promptly returned to Purchaser, and the parties will have no further rights or obligations under this Contract (except for any
that, by the explicit provisions of this Contract, expressly survive the termination of this Contract).
B. Escrow. The Earnest Money is deposited with the Title Company with the understanding that the Title Company is not:
(1) responsible for the performance or non-performance of any party to this Contract; or (2) liable for interest on the funds except
to the extent interest has been earned after the funds have been deposited in an interest bearing account. If both parties make
demand for the payment of the Earnest Money, the Title Company has the right to require from all parties and the Brokers (defined
below) a written release of liability of the Title Company which authorizes the disbursement of the Earnest Money. If only one
party makes demand for payment of the refundable portion of the Earnest Money, the Title Company shall give written notice of
the demand to the other party. The Title Company is authorized and directed to honor the demand unless the other party delivers
a written objection to the Title Company within ten (10) days after that party receives the written notice from the Title Company.
5.
SURVEY AND TITLE DOCUMENTS.
A. Survey. As soon as reasonably possible, and in any event within twenty (20) days after the Effective Date, Seller shall,
at Seller's expense, deliver or cause to be delivered to Purchaser a copy of a current on-the-ground perimeter survey
(the "Survey") of the Property prepared by a Registered Professional Land Surveyor. The Survey must be in a form and of a date
reasonably acceptable to Purchaser and to the Title Company, and in acceptable form in order to allow the Title Company to
modify the survey exception to read "any shortages in area." The Survey must show the location and size of all of the following
on or immediately adjacent to the Property, if any: buildings, building lines, streets, 100-year flood plain, improvements,
encroachments, easements, recording information of easements, pavements, protrusions, fences, rights-of-way, and apparent public
utilities. The Survey must show the gross land area and, if the Purchase Price is based upon the Net Land Area then the Survey
must also show the Net Land Area. The term "Net Land Area" means the gross land area of the Property less the area within
utility easements, drainage easements, ingress/egress easements, rights-of-way, 100-year flood plain and any encroachments on
the Property. The area within the 100-year flood plain must be as defined by the Federal Emergency Management Agency or other
applicable governmental authority. At the Closing, the metes and bounds description of the Property reflected in the Survey will
be used in the warranty deed and any other documents requiring a legal description of the Property.
B. Title Commitment. As soon as reasonably possible, and in any event within twenty (20) days after the Effective Date,
Seller shall, at Seller's expense, deliver or cause to be delivered to Purchaser: (1) A title commitment (the “Title Commitment")
covering the Property binding the Title Company to issue a Texas Owner Policy of Title Insurance (the "Title Policy") on the
standard form prescribed by the Texas Department of Insurance at the Closing, in the full amount of the Purchase Price, insuring
Purchaser's fee simple title to the Property to be good and indefeasible, subject only to the Permitted Exceptions (defined below);
and (2) the following (collectively, the "Title Documents"): (a) true and legible copies of all recorded instruments affecting the
Property and recited as exceptions in the Title Commitment; (b) a current tax certificate; (c) written notices as required in
Section 5C; and (d) if the Property includes any personal property, UCC search reports pertaining to the Seller.
C. Special Assessment Districts. If the Property is situated within a utility district or flood control district subject to the
provisions of Section 49.452 of the Texas Water Code, then Seller shall give to Purchaser as part of the Title Documents the
required written notice and Purchaser agrees to acknowledge receipt of the notice in writing. The notice must set forth the current
tax rate, the current bonded indebtedness and the authorized indebtedness of the district, and must comply with all other applicable
requirements of the Texas Water Code. If the Property is subject to mandatory membership in a property owner's association,
Seller shall notify Purchaser of the current annual budget of the property owners' association, and the current authorized fees, dues
and/or assessments relating to the Property.
D. Abstract. At the time of the execution of this Contract, Purchaser acknowledges that the Brokers have advised and
hereby advise Purchaser, by this writing, that Purchaser should have the abstract covering the Property examined by an attorney
of Purchaser's own selection or that Purchaser should be furnished with or obtain a policy of title insurance.
E. Notice Regarding Possible Annexation. If the Property that is the subject of this Contract is located outside the limits
of a municipality, the Property may now or later be included in the extraterritorial jurisdiction of the municipality and may now
or later be subject to annexation by the municipality. Each municipality maintains a map that depicts its boundaries and
extraterritorial jurisdiction. To determine if the Property is located within a municipality’s extraterritorial jurisdiction or is likely
to be located within a municipality’s extraterritorial jurisdiction, contact all municipalities located in the general proximity of the
Property for further information.
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6.
REVIEW OF TITLE.
) days (the
(
A. Review Period. Purchaser shall have
"Title Review Period") after receipt of the last of the Survey, Title Commitment and Title Documents to review them and to
deliver in writing to Seller any objections Purchaser may have to them or any item disclosed by them. Any item to which
Purchaser does not object will be deemed a "Permitted Exception." Those items the Title Company identifies to be released
upon the Closing will be deemed objections by Purchaser. Purchaser's failure to object within the time provided will be a waiver
of the right to object. If Purchaser delivers any written objections to Seller within the Title Review Period, then Seller shall make
a good faith attempt to cure the objections within ten (10) days (the “Cure Period”) after receipt of the objections. However,
Seller is not required to incur any cost to do so. Zoning ordinances and the lien for current taxes are deemed to be Permitted
Exceptions.
B. Cure Period. If Seller cannot cure the objections within the Cure Period, Seller may deliver a written notice to Purchaser,
before expiration of the Cure Period, stating whether Seller is committed to cure the objections at or before the Closing. If Seller
does not cure the objections within the Cure Period, or does not timely deliver the notice, or does not commit in the notice to fully
cure all of the objections at or before Closing, then Purchaser may terminate this Contract by delivering a written notice to Seller
on or before the earlier to occur of: (1) the date which is seven (7) days after the expiration of the Cure Period; or (2) the scheduled
Closing Date. If Purchaser properly and timely terminates this Contract, the refundable portion of the Earnest Money will be
immediately returned to Purchaser and neither party will have any further rights or obligations under this Contract (except for any
that expressly survive the termination). If Purchaser does not properly and timely terminate this Contract, then Purchaser will be
deemed to have waived any uncured objections and must accept such title as Seller is able to convey at the Closing. Seller’s
failure to satisfy Purchaser's objections under this Section 6 does not constitute a default by Seller.
7.
SELLER'S REPRESENTATIONS AND WARRANTIES.
A. Statements. Seller represents and warrants to Purchaser, to the best of Seller's knowledge, as follows:
(1) Title. At the Closing, Seller will have the right to, and will, convey to Purchaser good and indefeasible fee
simple title to the Property free and clear of any and all liens, assessments, easements, security interests and other
encumbrances except the Permitted Exceptions. Delivery of the Title Policy pursuant to Section 12 below will be deemed
to satisfy the obligation of Seller as to the sufficiency of title required under this Contract. However, delivery of the Title
Policy will not release Seller from the warranties of title set forth in the warranty deed.
(2) Leases. There are no parties in possession of any portion of the Property as lessees, tenants at sufferance or
trespassers except tenants under written leases delivered to Purchaser pursuant to this Contract.
(3) Negative Covenants. Seller shall not further encumber the Property or allow an encumbrance upon the title
to the Property, or modify the terms or conditions of any existing leases, contracts or encumbrances, if any, without the written
consent of Purchaser.
(4) Liens and Debts. There are no mechanic's liens, Uniform Commercial Code liens or unrecorded liens against
the Property, and Seller shall not allow any such liens to attach to the Property before the Closing that will not be satisfied
out of Closing proceeds. All obligations of Seller arising from the ownership and operation of the Property and any business
operated on the Property, including, but not limited to, taxes, leasing commissions, salaries, contracts, and similar agreements,
have been paid or will be paid before the Closing. Except for obligations for which provisions are made in this Contract for
prorating at the Closing and any indebtedness taken subject to or assumed, there will be no obligations of Seller with respect
to the Property outstanding as of the Closing.
(5) Litigation. There is no pending or threatened litigation, condemnation, or assessment affecting the Property.
Seller shall promptly advise Purchaser of any litigation, condemnation or assessment affecting the Property that is instituted
after the Effective Date.
(6) Material Defects. Seller has disclosed to Purchaser any and all known conditions of a material nature with
respect to the Property which may affect the health or safety of any occupant of the Property. Except as disclosed in writing
by Seller to Purchaser, the Property has no known latent structural defects or construction defects of a material nature, and
none of the improvements have been constructed with materials known to be a potential health hazard to occupants of the
Property. Purchaser acknowledges that the Brokers have not made any warranty or representation with respect to the
condition of the Property or otherwise, and Purchaser is relying solely upon Purchaser's own investigations and the
representations of Seller, if any.
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(7) Hazardous Materials. Except as otherwise disclosed in writing by Seller to Purchaser, the Property (including
any improvements) does not contain any Hazardous Materials (defined below). For purposes of this Contract, the term
"Hazardous Materials" means any pollutants, toxic substances, oils, hazardous wastes, hazardous materials or hazardous
substances as defined in or pursuant to the Comprehensive Environmental Response, Compensation and Liability Act, as
amended, the Clean Water Act, as amended, or any other Federal, State or local environmental law, ordinance, rule, or
regulation, whether existing as of the Effective Date or subsequently enacted.
B. Remedies. If Purchaser discovers, before the Closing, that any of Seller's representations or warranties has been
misrepresented or is inaccurate, Purchaser may notify Seller in writing, and Seller shall attempt to correct or remedy the
misrepresentation or inaccuracy. If the misrepresentation or inaccuracy is not remedied by Seller before the Closing, Purchaser
may, by written notice to Seller: (1) proceed to the Closing without waiving any claim for misrepresentation or breach of
warranty; (2) delay the Closing, if Seller agrees in writing to the delay, to allow additional time for the misrepresentation or breach
of warranty to be remedied; or (3) exercise Purchaser's remedies for default by Seller under this Contract.
8. NONCONFORMANCE. Purchaser has or will independently investigate and verify to Purchaser's satisfaction the
extent of any limitations of uses of the Property. Purchaser acknowledges that the current use of the Property or the improvements
located on the Property (or both) may not conform to applicable Federal, State or municipal laws, ordinances, codes or regulations.
Zoning, permitted uses, height limitations, setback requirements, minimum parking requirements, limitations on coverage of
improvements to total area of land, Americans with Disabilities Act requirements, wetlands restrictions and other matters may
have a significant economic impact upon the intended use of the Property by Purchaser. However, if Seller is aware of pending
zoning changes and/or current nonconformance with any Federal, State or local laws, ordinances, codes or regulations, Seller shall
disclose same to Purchaser.
9.
INSPECTION. [Check one]
A. Inspection Desired. Purchaser desires to inspect the Property and Seller grants to Purchaser the right to inspect
the Property as described in Addendum C, INSPECTION.
B. Inspection Not Necessary. Purchaser acknowledges that Purchaser has inspected the Property, including all
buildings and improvements thereon, and is thoroughly familiar with their condition, and Purchaser hereby accepts
the Property in its present condition, with such changes as may hereafter be caused by normal wear and tear before
the Closing, but without waiving Purchaser's rights by virtue of Seller's representations and warranties expressed
in this Contract.
10. CASUALTY LOSS AND CONDEMNATION.
A. Damage or Destruction. All risk of loss to the Property will remain upon Seller before the Closing. If, before the
Closing, the Property is damaged or destroyed by fire or other casualty to a Material Extent (defined below), then
Purchaser may either terminate this Contract by delivering a written termination notice to Seller or elect to close.
If, before the Closing, the Property is damaged by fire or other casualty to less than a Material Extent, the parties
shall proceed to Closing as provided in this Contract. If the transaction is to proceed to Closing, despite any damage
or destruction, there will be no reduction in the Purchase Price and Seller shall do one of the following: (1) fully
repair the damage before the Closing, at Seller's expense; (2) give a credit to Purchaser at the Closing for the entire
cost of repairing the Property; or (3) assign to Purchaser all of Seller's right and interest in any insurance proceeds
resulting from the damage or destruction, plus give a credit to Purchaser at the Closing in an amount equal to any
deductible or other shortfall. The term "Material Extent" means damage or destruction where the cost of repair
exceeds ten percent (10%) of the Purchase Price. If the extent of damage or the amount of insurance proceeds to
be made available cannot be determined before the Closing Date, or the repairs cannot be completed before the
Closing Date, either party may postpone the Closing Date by delivering a written notice to the other party specifying
an extended Closing Date which is not more than thirty (30) days after the previously scheduled Closing Date.
B. Condemnation. If condemnation proceedings are commenced before Closing against any portion of the Property,
then Seller shall immediately notify Purchaser in writing of the condemnation proceedings, and Purchaser may:
(1) terminate this Contract by delivering a written notice to Seller within ten (10) days after Purchaser receives the
notice (and in any event before Closing), in which case the refundable portion of the Earnest Money will be returned
to Purchaser and the parties will have no further rights or obligations under this Contract (except for any that
expressly survive the termination); or (2) appear and defend in the condemnation proceeding, in which case any
award in condemnation will, (a) if known as of Closing, belong to Seller and the Purchase Price will be reduced by
the same amount, or (b) if not known as of Closing, belong to Purchaser and the Purchase Price will not be reduced.
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11. ASSIGNMENT. [Check one]
X A. Limited Assignment Permitted. Purchaser may assign this Contract only to a related party, defined as: (1) an

entity in which Purchaser is an owner, partner or corporate officer; (2) an entity which is owned or controlled by
the same person or persons which own or control Purchaser; or (3) a member or members of the immediate family
of Purchaser, or a trust in which the beneficiary or beneficiaries is or are a member or members of the immediate
family of Purchaser. Purchaser will remain liable under this Contract after any assignment.
B. Assignment Prohibited. Purchaser may not assign this Contract without Seller's prior written consent.
C. Assignment Permitted. Purchaser may assign this Contract provided the assignee assumes in writing all obligations
and liabilities of Purchaser under this Contract, in which event Purchaser will be relieved of any further liability
under this Contract.
12. CLOSING.
A. Closing Date. The closing of the transaction described in this Contract (the "Closing") will be held at 10:00 a.m. at the
offices of the Title Company at its address stated below, on the date (the “Closing Date”) that is the later of
(
) days after the expiration of the Inspection Period (if any);
(
)
days after the Effective Date; or
. However, if any objections that were timely
made by Purchaser in writing pursuant to Section 6A have not been cured, then either party may postpone the Closing Date by
delivering a written notice to the other party specifying an extended Closing Date which is not more than thirty (30) days after
the previously scheduled Closing Date.
B. Seller’s Closing Obligations. At the Closing, Seller shall deliver to Purchaser, at Seller's expense:
(1) A duly executed [check one] General Warranty Deed Special Warranty Deed (with Vendor's Lien
retained if not a cash purchase) conveying the Property in fee simple according to the legal description prepared by the
surveyor as shown on the Survey, subject only to the Permitted Exceptions;
(2) An updated Title Commitment committing the underwriter for the Title Company to issue promptly after the
Closing, at Seller’s expense, the Title Policy pursuant to the Title Commitment, subject only to the Permitted Exceptions,
in the full amount of the Purchase Price, dated as of the date of the Closing, and (at an additional premium cost) [check only
one if applicable] with the survey exception modified at Seller’s expense to read “any shortages in area,” or with the
survey exception modified at Purchaser’s expense to read “any shortages in area;”
(3) A Bill of Sale conveying the personal property, if any, including, but not limited to any described on
Addendum A, IMPROVED PROPERTY, free and clear of liens, security interests and encumbrances, subject only to the
Permitted Exceptions (to the extent applicable);
(4) Possession of the Property, subject to valid existing leases disclosed by Seller to Purchaser and other applicable
Permitted Exceptions;
(5) A executed assignment of all leases, if there are any leases affecting the Property;
(6) A current rent roll certified by Seller to be complete and accurate, if there are any leases affecting the Property;
(7) Evidence of Seller's authority and capacity to close this transaction; and
(8) All other documents reasonably required by the Title Company to close this transaction.
C. Purchaser’s Closing Obligations. At the Closing, Purchaser shall deliver to Seller, at Purchaser's expense:
(1) The cash portion of the Purchase Price, with the Earnest Money being applied thereto;
(2) The Note and the Deed of Trust, if Addendum B-2, SELLER FINANCING, is attached;
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(3) An Assumption Agreement in recordable form agreeing to pay all commissions payable under any lease of the
Property;
(4) Evidence of Purchaser's authority and capacity to close this transaction; and
(5) All other documents reasonably required by the Title Company to close this transaction.
D. Closing Costs. Each party shall pay its share of the closing costs which are customarily paid by a seller or purchaser
in a transaction of this character in the county where the Property is located, or as otherwise agreed.
E. Prorations. Rents, lease commissions, interest, insurance premiums, maintenance expenses, operating expenses, and
ad valorem taxes for the year of Closing will be prorated at the Closing effective as of the date of the Closing. Seller shall give
a credit to Purchaser at Closing in the aggregate amount of any security deposits deposited by tenants under leases affecting the
Property. If the Closing occurs before the tax rate is fixed for the year of the Closing, the apportionment of the taxes will be upon
the basis of the tax rate for the preceding year applied to the latest assessed valuation, but any difference between actual and
estimated taxes for the year of the Closing actually paid by Purchaser will be adjusted equitably between the parties upon receipt
of a written statement of the actual amount of the taxes. This provision will survive the Closing.
F. Loan Assumption. If Purchaser assumes an existing mortgage loan at the Closing, Purchaser shall pay: (1) to the lender,
any assumption fee charged by the lender; and (2) to Seller, a sum equal to the amount of any reserve accounts held by the lender
for the payment of taxes, insurance and any other expenses applicable to the Property for which reserve accounts are held by the
lender. Purchaser shall execute, at the option and expense of Seller, a Deed of Trust to Secure Assumption with a trustee named
by Seller. If consent to the assumption is required by the lender, Seller shall obtain the lender's consent in writing and deliver the
consent to Purchaser at the Closing. If Seller does not obtain the lender's written consent (if required) and deliver it to Purchaser
at or before the Closing, Purchaser may terminate this Contract by delivering a written termination notice to Seller whereupon
the refundable portion of the Earnest Money will be promptly returned to Purchaser and the parties will have no further rights or
obligations under this Contract (except for any that expressly survive the termination).
G. Rollback Taxes. If this sale or a change in use of the Property or denial of any special use valuation on the Property
results in the assessment after Closing of additional taxes applicable to the period of time before the Closing, Seller shall pay to
Purchaser the additional taxes plus any penalties and interest immediately upon receipt of a written statement for the taxes, unless
this box is checked in which case Purchaser shall pay the additional taxes plus any penalties and interest. This obligation will
survive the Closing.
H. Foreign Person Notification. If Seller is a Foreign Person, as defined by the Internal Revenue Code, or if Seller fails
to deliver to Purchaser a non-foreign affidavit pursuant to Section 1445 of the Internal Revenue Code, then Purchaser may
withhold from the sales proceeds an amount sufficient to comply with applicable tax law and deliver the withheld proceeds to the
Internal Revenue Service, together with appropriate tax forms. The required affidavit from Seller will include: (1) a statement
that Seller is not a foreign person; (2) the U. S. taxpayer identification number of Seller; and (3) any other information required
by Section 1445 of the Internal Revenue Code.
13. DEFAULT.
A. Purchaser’s Remedies. If Seller fails to close this Contract for any reason except Purchaser's default or the termination
of this Contract pursuant to a right to terminate set forth in this Contract, Seller will be in default and Purchaser shall elect one
of the following, as Purchaser's sole remedy [check all that may apply]:

(1) Enforce specific performance of this Contract;
(2) Bring suit for damages against Seller;
(3) Enforce specific performance of this Contract and/or bring suit for damages against Seller; or
(4) Terminate this Contract and immediately receive the refundable portion of the Earnest Money. If Purchaser elects
to terminate this Contract due to Seller’s default, then the parties will have no further rights or obligations under this
Contract except for Seller’s obligation to cause the refundable portion of the Earnest Money to be returned to Purchaser
(and except for any that expressly survive the termination).
B. Seller’s Remedies. If Purchaser fails to close this Contract for any reason except Seller's default or the termination of
this Contract pursuant to a right to terminate set forth in this Contract, Purchaser will be in default and Seller shall elect one of
the following, as Seller's sole remedy [check all that may apply]:
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(1) Enforce specific performance of this Contract;
(2) Bring suit for damages against Purchaser;
(3) Enforce specific performance of this Contract and/or bring suit for damages against Purchaser; or
(4) Terminate this Contract and immediately receive the Earnest Money as liquidated damages for Purchaser's breach
of this Contract, thereby releasing Purchaser from this Contract. If Seller terminates this Contract due to Purchaser’s
default, then the parties will have no further rights or obligations under this Contract except for Purchaser’s obligation
to cause the Earnest Money to be paid to Seller (and except for any that expressly survive the termination).
14. AGENCY DISCLOSURE.
A. Agency Relationships. The Term "Brokers" refers to the Principal Broker and/or the Cooperating Broker, if
applicable, as set forth on the signature page. Each Broker has duties only to the party the Broker represents as identified below.
If either Broker is acting as an intermediary, then that Broker will have only the duties of an intermediary, and the intermediary
disclosure and consent provisions apply as set forth below. [Each broker check only one]
(1) The Principal Broker is: agent for Seller only; or agent for Purchaser only; or an intermediary.
(2) The Cooperating Broker is: agent for Seller only; agent for Purchaser only; or an intermediary.
B. Other Brokers. Seller and Purchaser each represent to the other that they have had no dealings with any person, firm,
agent or finder in connection with the negotiation of this Contract and/or the consummation of the purchase and sale contemplated
by this Contract, other than the Brokers named in this Contract, and no real estate broker, agent, attorney, person, firm or entity,
other than the Brokers is entitled to any commission or finder's fee in connection with this transaction as the result of any dealings
or acts of the representing party. Each party agrees to indemnify, defend, protect and hold the other party harmless from and
against any costs, expenses or liability for any compensation, commission, fee, or charges which may be claimed by any agent,
finder or other similar party, other than the named Brokers, by reason of any dealings or acts of the indemnifying party.
C. Fee Sharing. Seller and Purchaser agree that the Brokers may share the Fee (defined below) among themselves, their
sales associates, and any other licensed brokers involved in the sale of the Property. The parties authorize the Title Company to
pay the Fee directly to the Principal Broker and, if applicable, the Cooperating Broker, in accordance with Section 15 or any other
agreement pertaining to the Fee. Payment of the Fee will not alter the fiduciary relationships between the parties and the Brokers.
D. Intermediary Relationship. If either of the Brokers has indicated in Section 14A above that the Broker is acting as an
intermediary in this transaction, then Purchaser and Seller hereby consent to the intermediary relationship, authorize the respective
Brokers to act as an intermediary in this transaction, and acknowledge that the source of any expected compensation to the Brokers
will be Seller, and the Brokers may also be paid a fee by Purchaser. A real estate broker who acts as an intermediary between
parties in a transaction:
(1) may not disclose to the buyer that the seller will accept a price less than the asking price unless
otherwise instructed in a separate writing by the seller;
(2) may not disclose to the seller that the buyer will pay a price greater than the price submitted in a
written offer to the seller unless otherwise instructed in a separate writing by the buyer;
(3) may not disclose any confidential information or any information a party specifically instructs the
real estate broker in writing not to disclose unless otherwise instructed in a separate writing by the respective
party or required to disclose such information by the Texas Real Estate License Act or a court order or if
the information materially relates to the condition of the property;
(4) shall treat all parties to the transaction honestly; and
(5) shall comply with the Texas Real Estate License Act.
Broker is authorized to appoint, by providing written notice to the parties, one or more licensees associated with
Broker to communicate with and carry out instructions of one party, and one or more other licensees associated with
Broker to communicate with and carry out instructions of the other party or parties. During negotiations, an appointed
licensee may provide opinions and advice to the party to whom the licensee is appointed.
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15. PROFESSIONAL SERVICE FEE.
A. Payment of Fee. Seller agrees to pay the Brokers a professional service fee (in cash) (the “Fee”) for procuring the
Purchaser and for assisting in the negotiation of this Contract as follows:
The Fee will be earned upon the execution of this Contract and will be paid at Closing. The Fee is earned notwithstanding: (1)
any subsequent termination of this Contract (except a termination by Purchaser pursuant to a right of termination in this Contract);
or (2) any default by Seller. If the transaction described in this Contract is not consummated by reason of Purchaser's default and
Seller does not elect to enforce specific performance, the Fee will not exceed one-half of the Earnest Money. The Fee will be paid
by Seller to the Brokers in the county in which the Property is located. Seller shall pay any applicable sales taxes on the Fee. The
Fee will be paid at the Closing of a sale of the Property by Seller pursuant to this Contract (as may be amended or assigned), or
in the event of default under this Contract by Seller or Purchaser, within ten (10) days after the scheduled Closing Date. The Title
Company or other escrow agent is authorized and directed to pay the Fee to the Brokers out of the Closing proceeds or, if
applicable, out of the Earnest Money or any other escrow deposit made pursuant to this Contract.
B. Consent Required. Purchaser, Seller and Title Company agree that the Brokers are third party beneficiaries of this
Contract with respect to the Fee, and that no change may be made by Purchaser, Seller or Title Company as to the time of payment,
amount of payment or the conditions for payment of the Fee without the written consent of the Brokers.
C. Right to Claim a Lien. Pursuant to Chapter 62 of the Texas Property Code, the Brokers hereby disclose their right to
claim a lien based on the commission agreement set forth in this Section 15 and any other commission agreements referenced in
this Contract or applicable to the transaction contemplated by this Contract. This disclosure is hereby incorporated in any such
commission agreements.
16. MISCELLANEOUS PROVISIONS.
A. Effective Date. The "Effective Date" is the date the Title Company acknowledges receipt of this fully executed
Contract.
B. Notices. All notices and other communications required or permitted under this Contract must be in writing and will
be deemed delivered, whether actually received or not, on the earlier of: (1) actual receipt, if delivered in person or by messenger
with evidence of delivery; (2) receipt of an electronic facsimile ("Fax") transmission with confirmation of delivery to the Fax
telephone numbers specified below, if any; or (3) upon deposit with the United States Postal Service, certified mail, return receipt
requested, postage prepaid, and properly addressed to the intended recipient at the address set forth below. Any party may change
its address for notice purposes by delivering written notice of its new address to all other parties in the manner set forth above.
Copies of all written notices should also be delivered to the Brokers and to the Title Company, but failure to notify the Brokers
or the Title Company will not cause an otherwise properly delivered notice to be ineffective.
C. Termination. If this Contract is terminated for any reason, the obligations of each party under this Contract will
terminate, except that: (1) Purchaser shall pay the costs to repair any damage to the Property caused by Purchaser or Purchaser’s
agents; (2) Purchaser shall return to Seller any reports or documents delivered to Purchaser by Seller; and (3) each party shall
perform any other obligations that expressly survive the termination of this Contract. The obligations of this Section 16C will
survive the termination of this Contract. The terms of any mutual termination agreement will supersede and control over the
provisions of this Section 16C to the extent of any conflict.
D. Forms. In case of a dispute as to the form of any document required under this Contract, the most recent form prepared
by the State Bar of Texas, modified as necessary to conform to the requirements of this Contract, will be deemed reasonable.
E. Attorneys Fees. The prevailing party in any legal proceeding brought in relation to this Contract or transaction will be
entitled to recover from the non-prevailing parties court costs, reasonable attorneys fees and all other reasonable litigation
expenses.
F. Integration. This Contract contains the complete agreement between the parties with respect to the Property and cannot
be varied except by written agreement. The parties agree that there are no oral agreements, understandings, representations or
warranties made by the parties which are not expressly set forth in this Contract. Any prior written agreements, understandings,
representations or warranties between the parties will be deemed merged into and superceded by this Contract, unless it is clear
from the written document that the intent of the parties is for the previous written agreement, understanding, representation or
warranty to survive the execution of this Contract.
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G. Survival. Any warranty, representation, covenant or condition contained in this Contract not otherwise discharged at
the Closing will survive the Closing of this transaction.
H. Binding Effect. This Contract will inure to the benefit of, and will be binding upon, the parties to this Contract and their
respective heirs, legal representatives, successors and assigns.
I. Time For Performance. Time is of the essence under each provision of this Contract. Strict compliance with the times
for performance is required.
J. Right of Entry. After reasonable advance notice and during normal business hours, Purchaser, Purchaser's
representatives and the Brokers have the right to enter upon the Property before the Closing for purposes of viewing, inspecting
and conducting studies of the Property, so long as they do not unreasonably interfere with the use of the Property by Seller or
any tenants, or cause damage to the Property.
K. Business Day. If any date of performance under this Contract falls on a Saturday, Sunday or Texas legal holiday, such
date of performance will be deferred to the next day that is not a Saturday, Sunday or Texas legal holiday.
L. Governing Law. This Contract will be construed under and governed by the laws of the State of Texas, and unless
otherwise provided in this Contract, all obligations of the parties created under this Contract are to be performed in the county
where the Property is located.
M. Severability. If any provision of this Contract is held to be invalid, illegal, or unenforceable by a court of competent
jurisdiction, the invalid, illegal, or unenforceable provision will not affect any other provisions, and this Contract will be construed
as if the invalid, illegal, or unenforceable provision is severed and deleted from this Contract.
N. Broker Disclaimer. The Brokers will disclose to Purchaser any material factual knowledge the Brokers may possess
about the condition of the Property. Purchaser understands that a real estate broker is not an expert in matters of law, tax,
financing, surveying, hazardous materials, engineering, construction, safety, zoning, land planning, architecture, or the Americans
with Disabilities Act. Purchaser acknowledges that Purchaser has been advised by the Brokers to seek expert assistance on such
matters. The Brokers do not investigate a property's compliance with building codes, governmental ordinances, statutes and laws
that relate to the use or condition of the Property or its construction, or that relate to its acquisition. Purchaser is not relying upon
any representations of the Brokers concerning permitted uses of the Property or with respect to any nonconformance of the
Property. If the Brokers provide names of consultants or sources for advice or assistance, the Brokers do not warrant the services
of the advisors or their products and cannot warrant the suitability of property to be acquired. Purchaser acknowledges that current
and future federal, state and local laws and regulations may require any Hazardous Materials to be removed at the expense of those
persons who may have had or continue to have any interest in the Property. The expense of such removal may be substantial.
Purchaser agrees to look solely to experts and professionals selected or approved by Purchaser to advise Purchaser with respect
to the condition of the Property and will not hold the Brokers responsible for any Hazardous Materials condition relating to the
Property. The Brokers do not warrant that Seller will disclose any or all property defects or other matters pertaining to the
Property or its condition. Seller and Purchaser agree to hold the Brokers harmless from any damages, claims, costs and expenses
resulting from or related to any party furnishing to the Brokers or Purchaser any false, incorrect or inaccurate information with
respect to the Property or Seller's concealing any material information with respect to the condition of the Property. To the extent
permitted by applicable law, the Brokers’ liability for errors or omissions, negligence, or otherwise, is limited to the return of the
Fee, if any, paid to the responsible Broker pursuant to this Contract. In addition, Seller and Purchaser agree to defend and hold
the Brokers participating in this transaction harmless from and against any and all liabilities, claims, debts, damages, costs, and
expenses including, but not limited to, reasonable attorneys fees and court costs, related to or arising out of or in any way
connected to representations about the Property or matters that should be analyzed by experts.
O. Counterparts. This Contract may be executed in a number of identical counterparts. Each counterpart is deemed an
original and all counterparts will, collectively, constitute one agreement.
P. Gender; Number. Unless the context requires otherwise, all pronouns used in this Contract will be construed to include
the other genders, whether used in the masculine, feminine or neuter gender. Words in the singular number will be construed to
include the plural, and words in the plural will be construed to include the singular.
Q. Mediation. If any dispute (the "Dispute") arises between any of the parties to this Contract including, but not limited
to, payment of the Fee, then any party (including any Broker) may give written notice to the other parties requiring all involved
parties to attempt to resolve the Dispute by mediation. Except in those circumstances where a party reasonably believes that an
applicable statute of limitations period is about to expire, or a party requires injunctive or equitable relief, the parties are obligated
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to use this mediation procedure before initiating arbitration or any other action. Within seven (7) days after receipt of the
mediation notice, each party must deliver a written designation to all other parties stating the names of one or more individuals
with authority to resolve the Dispute on such party's behalf. Within fourteen (14) days after receipt of the mediation notice, the
parties shall make a good faith effort to select a qualified mediator to mediate the Dispute. If the parties are unable to timely agree
upon a mutually acceptable mediator, any party may request JAMS/Endispute or any state or federal district judge to appoint a
mediator. In consultation with the mediator, the parties shall promptly designate a mutually convenient time and place for the
mediation, that is no later than thirty (30) days after the date the mediator is selected. In the mediation, each party must be
represented by persons with authority and discretion to negotiate a resolution of the Dispute, and may be represented by counsel.
The mediation will be governed by applicable provisions of Chapter 154 of the Texas Civil Practice and Remedies Code, and
such other rules as the mediator may prescribe. The fees and expenses of the mediator will be shared equally by all parties
included in the Dispute.
R. Arbitration. If the parties are unable to resolve any Dispute by mediation, then the parties shall submit the Dispute to
binding arbitration before a single arbitrator. The Dispute will be decided by arbitration in accordance with the applicable
arbitration statute and any rules selected by the arbitrator. After an unsuccessful mediation, any party may initiate the arbitration
procedure by delivering a written notice of demand for arbitration to the other parties. Within fourteen (14) days after the receipt
of the written notice of demand for arbitration, the parties shall make a good faith effort to select a qualified arbitrator acceptable
to all parties. If the parties are unable to agree upon the selection of an arbitrator, then any party may apply to JAMS/Endispute,
the American Arbitration Association, or a court of competent jurisdiction to appoint an arbitrator. This agreement to arbitrate
will be specifically enforceable under the prevailing arbitration law.
S. Consult an Attorney. This document is an enforceable, legally binding agreement. Read it carefully. The Brokers
involved in the negotiation of the transaction described in this Contract cannot give legal advice. The parties to this Contract
acknowledge that they have been advised by the Brokers to have this Contract reviewed by legal counsel before signing this
Contract.
Purchaser’s
attorney is:
Seller’s
attorney is:
17. ADDITIONAL PROVISIONS. [Additional provisions may be set forth below or on any attached Addendum].
18. EXHIBITS AND ADDENDA. All Exhibits and Addenda attached to this Contract are incorporated herein by reference
and made a part of this Contract for all purposes [check all that apply]:
Exhibit "A" Survey and/or Legal Description
Exhibit "B"
Site Plan
Exhibit "C" ______________________________

Addendum A
Addendum B-1
Addendum B-2
Addendum C
Addendum D
Addendum E
Addendum F
Improved Property
Third Party Financing
Seller Financing
Inspection
Disclosure Notice
Lead Based Paint
Additional Provisions
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19. CONTRACT AS OFFER. The execution of this Contract by the first party to do so constitutes an offer to purchase
or sell the Property. Unless, within
(
) days after the date of execution of this Contract by the
first party, this Contract is accepted by the other party by signing the offer and delivering a fully executed copy to the first party,
the offer of this Contract will be deemed automatically withdrawn, and the Earnest Money, if any, will be promptly returned to
Purchaser.
EXECUTED to be effective as of the Effective Date.
SELLER
PURCHASER
By: (Signature)
Name:
Title:
By: (Signature)
Name:
Title:
By: (Signature)
Name:
Title:
By: (Signature)
Name:
Title:
Address:
Address:
Telephone:
Tax I.D. No:
Date of Execution:
Fax:
Telephone:
Tax I.D. No:
Date of Execution:
PRINCIPAL BROKER
COOPERATING BROKER
By: (Signature)
Name:
Title:
Address:
By: (Signature)
Name:
Title:
Address:
Telephone:
TREC License No.:
Fax:
Telephone:
TREC License No.:
Fax:
Fax:
TITLE COMPANY RECEIPT: The Title Company acknowledges receipt of this Contract on
(the Effective Date) and, upon receipt of the Earnest Money, accepts the Earnest Money subject to the terms and
conditions set forth in this Contract.
TITLE COMPANY
By: (Signature)
Address:
Name:
Title:
Telephone:
Fax:
PERMISSION TO USE: This form is provided for the use of members of the North Texas Commercial Association of Realtors®, Inc. Permission is granted to make limited copies
of the current version of this form for use in a particular Texas real estate transaction. Please contact the NTCAR office to confirm you are using the current version of this form. Mass
production, or reproduction for resale, is not allowed without express permission.
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Confidentiality & Disclaimer Statement
The materials enclosed in this proposal contain proprietary information,
and is intended for the recipient of this package’s sole use.
We respectively request that all packages be returned upon completion
of the Selection Process unless other arrangements are made with Henry
S. Miller Commercial.
The information contained herein was obtained from sources believed
reliable; however, HENRY S. MILLER COMMERCIAL makes no
guaranties, warranties, or representations as to the completeness or
accuracy thereof. The presentation of this property for sale, rent or
exchange is submitted subject to errors, omissions, change of price or
conditions, or withdrawal without notice.