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OPTION CONTRACT
Project No. TEX R-102
Parcel No. CPA 15 & 16
For the consideration of $3,300.00 the undersigned (hereinafter called
the "Seller") being the owner thereof, hereby offers and agrees to sell and
convey to the Urban Renewal Agency of the City of Georgetown, Texas (herein-
after called the "Local Public Agency") or its assignee the following describ-
ed property, located in the City of Georgetown, County of Williamson, State
of Texas, to wit:
Lots 70 8, 9, 10, 11, 12 Ea. 60' x 120', and property
West hereof, Carver Park Addition, City of Georgetown.
Vol. 357, Pg. 493, dated 11/23/49.
upon the following terms and conditions:
Upon closing, the Seller shall convey to the Local Public Agency or its
assignee by general warranty deed a good and marketable fee simple title thereto,
together with all improvements, hereditaments and appurtenances thereunto
belonging, free and clear of all liens and encumbrances of any kind except existing
easements and/or restrictions, if any, together with all his right, title and interest
in and to any street or alleys adjoining or abutting thereof. Taxes and assess-
ments shall be prorated as of the date of closing.
Payment of the total purchase price as shown above shall be as follows:
$1.00 receipt of which is hereby acknowledged and the further payment of
$3,299.00 upon transfer of title, by general warranty deed, to the said Local
Public Agency. All expenses of examinations of title and of preparation and re-
cording of deed shall be paid by the Local Public Agency. Payment of the purchase
price shall be made upon transfer of title to the Local Public Agency.
This offer shall be irrevocable until Nov, 4, 1968 and'shall remain in force
thereafter until 30 days after written notice by the Seller'of its termination.
If this offer is accepted, the Local Public Agency shall endorse its acceptance
hereon and mail notice thereof to the Seller at the address specified below. This
agreement shall be -binding upon the Seller and his heirs, executors, administraty,-;
and assigns.
Notwithstanding the prior acceptance of this offer, the Local Public
Agency in lieu of completing the purchase of said premises may at any time
prior to closing, proceed to acquire the same by condemnation. The Seller
agrees, as an Independent stipulation, which shall survive the expiration or
termination of this.offer, to such condemnation upon payment -of just compensa-
tion, which shall be the purchase price above stated, which price the Seller
hereby declares to be fair market value of said premises, inclusive of every
interest therein. .
Loss or damage.to the property from any cause shall be at the risk of the
Seller until title has been conveyed to the Local Public Agency.
Seller shall pay for all required Federal Revenue Tax Stamps to be attached
to the deed of conveyance to the Local Public Agency.
This 9th day of September, A.D., 1968.
City of Georgetown
Witnesses:
(� g.d Charles D.' Eyeington)
(Sinned: Clarise Gregg)
Accepted this 9th day of September, A.D., 1968.
Si *ned• Jay C. Sloan Mayor)
kxxbaxa Seller
(xitz) Seller
Address of Seller
URBAN RENEWAL AGENCY OF THE
CITY OF GEORGETOIVN, TEXAS
BY(Signed: Jim 0. Rector)