Initialed for identification by Buyer_________and Seller_________ Page 1 of 14 EQUAL HOUSING OPPORTUNITY PROMULGATED BY THE _______________REAL ESTATE COMMISSION FARM AND RANCH CONTRACT 1.PARTIES: ________________________________________ (Seller) agrees to sell and
convey to __________________________________________ (Buyer) and Buyer agrees
to buy from Seller the property described below.2.PROPERTY: The land situated in _____________________County, ___________,
described as follows:or as described on attached exhibit, together with all improvements thereon and all rights,
privileges and appurtenances pertaining thereto, including but not limited to: water rights,
claims and permits, easements, all rights and obligations of applicable government
programs and cooperative or association memberships. Included with the sale are the
following items, if any: windmills and tanks, domestic water systems, curtains and rods,
draperies and rods, valances, blinds, window shades, screens, shutters, awnings, wall-to-
wall carpeting, mirrors fixed in place, ceiling fans, attic fans, mail boxes, television
antennas and satellite dish with controls and equipment, permanently installed heating
and air conditioning units, window air conditioning units, built-in security and fire
detection equipment, plumbing and lighting fixtures, including chandeliers, water
softener, stove, built-in kitchen equipment, garage door openers with controls, built-in
cleaning equipment, all swimming pool equipment and maintenance accessories,
shrubbery, landscaping, permanently installed outdoor cooking equipment, built-in
fireplace screens, artificial fireplace logs and all other property owned by Seller and
attached to the above described real property.The following crops and equipment are included: ________________________________
_______________________________________________________________________The following property is not included: ________________________________________
_______________________________________________________________________All property sold by this contract is called the "Property." The Property will be conveyed
subject to the following exceptions, reservations, conditions and restrictions (if none,
insert "none"):A. Minerals, Royalties, and Timber Interests:
Initialed for identification by Buyer_________and Seller_________ Page 2 of 14 (1) Presently outstanding in third parties:(2) To be additionally retained by Seller:B. Mineral Leases:C. Surface Leases:D. Easements:E. Restrictions, Zoning ordinances or other Exceptions:3. SALES PRICE:A. Cash portion of Sales Price payable by Buyer at closing .................... $___________B. (1) Sum of all financing described in Paragraph 4.................$_______ (2) Less: face amount of any lender required stock............. _______ (3) Difference between B(1) and B(2)................................................ $
___________C. Sales Price [Sum of A and B(3)]..........................................................$ ___________D. The Sales Price ( ) will ( ) will not be adjusted based on the survey required by
Paragraph 6B, and the number of acres over or under _________ acres will be multiplied
by $__________ per acre. The result thereof will be added to or subtracted from the
Sales Price, and the cash amount set out in 3A will be adjusted accordingly; however, if
the amount set out in 3A is to be adjusted by more than 10%, either party may terminate
this contract and the earnest money will be refunded to Buyer.
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 3 of 14 4. FINANCING: Within _____ days after the effective date of this contract Buyer
shall apply for and make every reasonable effort to obtain financing.
Financing will be deemed to have been obtained when the lender has determined that Buyer has
satisfied all of lender's financial requirements (those items relating to Buyer's net worth, income
and creditworthiness). If financing (including the face amount of any lender required stock) or
assumption approval is not obtained within ______ days after the effective date hereof, this
contract will terminate and the earnest money will refunded to Buyer. Each note to be executed
hereunder must be secured by vendor’s and deed of trust liens.The portion of Sales Prices not payable in cash will be paid as follows: (Check applicable boxes below)( )A. THIRD PARTY FINANCING:( )(1) This contract is subject to approval for Buyer of a third party first Lien note of $______________ (including the face amount of any lender
required stock) payable at ______________ intervals for not less than
_________ years with the initial interest rate not to exceed ______% per
annum.( )(2) This contract is subject to approval for Buyer of a third party second
lien note of $_______________ (including the face amount of any lender
required stock) payable at _________ intervals for not less than _____
years with the initial interest rate not to exceed ______% per annum.( )B. SELLER FINANCING: A promissory note from Buyer to Seller of
$________, bearing _________% interest per annum, secured by vendor’s and
deed of trust liens, in accordance with the terms and conditions set forth in the
attached _______ Seller Financing Addendum. If an owner policy of title
insurance is furnished, Buyer shall furnish Seller with a mortgagee policy of title
insurance.( )C. ASSUMPTION:( )(1) Buyer shall assume the unpaid principal balance of a first lien
promissory note payable to _______________________________ dated _______________, which unpaid balance at closing will be $_________
(including the face amount of any lender required stock). The total
current monthly payment including principal, interest and any reserve
deposits is $___________________. Buyer’s initial payment will be the
first payment due after closing.( )(2) Buyer shall assume the unpaid principal balance of a second lien
promissory note payable to ____________________ dated ___________, which unpaid balance at closing will be $____________ (including the
face amount of any lender required stock). The total current monthly
payment including principal, interest and any reserve deposits is
$_______________. Buyer’s initial payment will be the first payment
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 4 of 14 due after closing.If any assumed loan initially required for the purchase of lender’s stock,
the sale of the Property will include such stock.Buyer’s assumption of an existing note includes all obligations imposed
by the deed of trust securing the note. If the unpaid principal balance(s)
of any assumed loan(s) as of the Closing Date varies from the loan
balance(s) stated above, the ( ) cash payable at closing ( ) Sales
Price will be adjusted by the amount of any variance; provided, if the total
principal balance of all assumed loans varies in an amount greater than
$500.00 at closing, either party may terminate this contract and the earnest
money will be refunded to Buyer unless the other party elects to eliminate
the excess in the variance by an appropriate adjustment at closing. If the
noteholder on assumption requires (a) Buyer to pay an assumption fee in excess of $_____________ in C(1) above or $_______________ in C(2)
above, and Seller declines to pay such excess or (b) an increase in the
interest rate to more than _____________% in C(1) above or
_____________% in C(2) above, or (c) any other modification of the loan
documents, Buyer may terminate this contract and the earnest money will
be refunded to Buyer. A vendor’s lien and deed of trust to secure
assumption will be required, which will automatically be released on
execution and deliver of a release by noteholder. If Seller is released
from liability on any assumed note, the vendor ’s lien and deed of trust to
secure assumption will not be required.NOTICE TO BUYER: The payments, interest rates or other terms of
some loans may be adjusted by the lender at or after closing. If you are
concerned about the possibility of future adjustments, do not sign the
contract without examining the notes and deeds of trust.NOTICE TO SELLER: Your liability to pay the note assumed by Buyer
will continue unless you obtain a release of liability from the lender. If
you are concerned about future liability, you should use the
_______________.( )D. CREDIT APPROVAL ON ASSUMPTION OR SELLER FINANCING:
Within _____ days after the effective date of this contract, Buyer shall deliver to
Seller ( ) credit report ( ) verification of employment, including salary
( ) verification of funds on deposit in financial institutions ( ) current
financial statement to establish Buyer’s creditworthiness for seller financing and (
) _____________________________________________________________________________________________________________________________________________________________________________________________. If
Buyer’s documentation is not delivered within the specified time, Seller may terminate this contract by notice to Buyer within 7 days after expiration of the
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 5 of 14 time for delivery, and the earnest money will be paid to Seller. If this contract is
not so terminated, Seller will be deemed to have accepted Buyer’s credit. If the
documentation is timely delivered, and Seller determines in Seller’s sole
discretion that Buyer’s credit is unacceptable, Seller may terminate this contract
by notice to Buyer within 7 days after expiration of the time for delivery and the
earnest money will be refunded to Buyer. If Seller does not so terminate this
contract, Seller will be deemed to have accepted Buyer’s credit. Buyer hereby
authorizes any credit reporting agency to furnish to Seller at Buyer’s sole expense
copies of Buyer’s credit reports.5. EARNEST MONEY: Buyer shall deposit $ ___________ as earnest money with
__________________________ at ___________________________________ (Address), as
escrow agent, upon execution of this contract by both parties. Additional earnest money of $________ must be deposited by Buyer with escrow agent on or before
____________________, 20_______. If Buyer fails to deposit the earnest money as required by
this contract, Buyer will be in default.6. TITLE POLICY AND SURVEY:( )A. TITLE POLICY: Seller shall furnish to Buyer at ( ) Seller’s ( ) Buyer’s
expense an owner policy of title insurance (the Title Policy) issued by
__________________________ (the Title Company) in the amount of the Sales
Price, dated at or after closing, insuring Buyer against loss under the provisions of
the Title Policy, subject to the promulgated exclusions (including existing building and zoning ordinances) and the following exceptions:(1) The standard printed exception for standby fees, taxes and assessments.(2) Liens created as part of the financing described in Paragraph 4.(3) Those matters specifically described in Paragraph 2.(4) The standard printed exception as to discrepancies, conflicts, shortages in area
or boundary lines, encroachments or protrusions, or overlapping improvements.(5) The standard printed exception as to marital rights.(6) The standard printed exception as to waters, tidelands, beaches, streams, and
related matters.Within 20 days after the Title Company receives a copy of this contract, Seller
shall furnish to Buyer a commitment for title insurance (the Commitment) and, at
Buyer's expense, legible copies of restrictive covenants and documents evidencing exceptions in the Commitment other than the standard printed
exceptions. Seller authorizes the Title Company to mail or hand deliver the
Commitment and related documents to Buyer at Buyer's address shown below. If
the Commitment is not delivered to Buyer within the specified time, the time for
delivery will be automatically extended up to 15 days.
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 6 of 14 ( ) B. SURVEY: (Check one box only)( )(1) Within _____ days after the effective date of this contract, Buyer
shall obtain a survey at Buyer’s expense.( )(2) Within _____ days after the effective date of this contract, Seller shall
cause a survey to be delivered to Buyer at Seller’s expense.( )(3) Within _____ days after the effective date of this contract, Seller shall
deliver to Buyer the existing survey plat of the Property dated
______________, 20_____, which ( ) will ( ) will not be recertified
to a date subsequent to the effective date of this contract at the expense of
( ) Buyer ( ) Seller.The survey must be made by a Registered Professional Land Surveyor acceptable
to the Title Company and any lender. Buyer will have 7 days after the receipt of the latter of the Commitment or survey to
object in writing to matters disclosed in the Commitment or survey except for those
matters specifically described in Paragraph 2. Buyer’s failure to object under Paragraph
6 within the time allowed will constitute a waiver of Buyer’s right to object; except that
the requirements in Schedule C of the Commitment will not be deemed to have been
waived. Seller shall cure the timely objections of Buyer or any third party lender within
20 days after Seller receives the objections and the Closing Date will be extended as
necessary. If objections are not cured by the extended Closing Date, this contract will
terminate and the earnest money will be refunded to Buyer unless Buyer elects to waive
the objections.( )C. ABSTRACT OF TITLE: _______ Addendum for Abstract of Title, or an
addendum required by the parties, is attached.NOTICE TO SELLER AND BUYER:(1)Broker advises Buyer to have an abstract of title covering the Property examined by an
attorney of Buyer’s selection, or Buyer should be furnished with or obtain a Title Policy.
If a Title Policy is furnished, the Commitment should be promptly reviewed by an
attorney of Buyer’s choice due to the time limitations on Buyer’s right to object.(2)If the Property is situated in a utility or other statutorily created district providing water,
sewer, drainage, or flood control facilities and services, Chapter ________ of the _____
______ Code requires Seller to deliver and Buyer to sign the statutory notice relating to
the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of
this contract.(3)Eligibility for government farm program benefits may depend upon compliance with a
soil conservation plan for the Property. Buyer is advised to determine whether the
property is subject to and in compliance with a plan before signing this contract.(4)Buyer is advised that the presence of wetlands, toxic substances, including asbestos and
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 7 of 14 wastes or other environmental hazards or the presence of a threatened or endangered
species or its habitat may affect Buyer’s intended use of the Property. If Buyer is
concerned about these matters, an addendum either promulgated by ___________or
required by the parties should be used.(5)If the Property abuts the tidally influenced waters of the state, § ___________,
___________ Code, requires a notice regarding coastal area property to be included in
the contract. An addendum either promulgated by _______ or required by the parties
should be used.(6)Unless expressly prohibited in writing by the parties, Seller may continue to show the
Property for sale and to receive, negotiate and accept back-up offers.(7)Any residential service contract that is purchased in connection with this transaction
should be reviewed for the scope of coverage, exclusions and limitations. The
purchase of a residential service contract is optional. Similar coverage may be
purchased from various companies authorized to do business in __________.7.PROPERTY CONDITION:A.INSPECTIONS, ACCESS AND UTILITIES: Buyer may have the Property inspected
by an inspector selected by Buyer, licensed by _______ or otherwise permitted by
law to make such inspections. Seller shall permit access to the Property at
reasonable times for inspection, repairs and treatment and for reinspection after
repairs and treatment have been completed. Seller shall pay for turning on utilities
for inspection and reinspection.B.SELLER’S DISCLOSURE NOTICE PURSUANT TO §______, ________
PROPERTY CODE (Notice) (check one box only):( )(1) Buyer has received the Notice.( )(2) Buyer has not received the Notice. Within ____ days after the
effective date of this contract, Seller shall deliver the Notice to Buyer. If
Buyer does not receive the Notice, Buyer may terminate this contract at
any time prior to the closing. If Seller delivers the Notice, Buyer may
terminate this contract for any reason within 7 days after Buyer receives
the Notice or prior to the closing, whichever first occurs.( )(3) The __________ Property Code does not require this Seller to furnish
the Notice.C.SELLER’S DISCLOSURE OF LEAD-BASED PAINT AND LEAD-BASED PAINT
HAZARDS is required by Federal Law for a residential dwelling constructed
prior to 1978. An addendum providing such disclosure ( ) is ( ) is not
attached.D. ACCEPTANCE OF PROPERTY CONDITION: (check one box only):( )(1) In addition to any earnest money deposited with escrow agent, Buyer
has paid Seller $____________ (the Option Fee) for the unrestricted right
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 8 of 14 to terminate this contract by giving notice of termination to Seller within
_________ days after the effective date of this contract. If Buyer gives
notice of termination within the time specified, the Option Fee will not be
refunded, however, any earnest money will be refunded to Buyer. If
Buyer doe snot give notice of termination within the time specified, Buyer
will be deemed to have accepted the Property in its current condition and
the Option Fee ( ) will ( ) will not be credited to the Sales Price at
closing.( )(2) Buyer accepts the Property in its present condition; provided Seller, at
Seller’s expense, shall complete the following repairs and treatment:___________________________________________________________________________________________________________________________________________________________________________________.E. LENDER REQUIRED REPAIRS AND TREATMENTS (REPAIRS): Unless otherwise agreed in writing, neither party is obligated to pay for lender require repairs or treatments for wood destroying insects. If the cost of lender required repairs exceeds 5% of the Sale Price, Buyer may terminate this contract.8.COMPLETION OF REPAIRS AND TREATMENT. Unless otherwise agreed by
the parties in writing, Seller shall complete all agreed repairs and treatment prior to the
Closing Date. Repairs and treatments must be performed by persons who regularly
provide such repairs or treatments. At Buyer’s election, any transferable warranties
received by Seller with respect to the repairs will be transferred to Buyer at Buyer’s
expense. If Seller fails to complete any agreed repairs and treatment prior to the
Closing Date, Buyer may do so and the Closing Date will be extended up to 15 days,
if necessary, to complete repairs and treatment. 8.BROKERS' FEES: All obligations of the parties for payment of brokers’ fees are
contained in separate written agreements.9. CLOSING: The closing of the sale will be on or before ___________________,
20________, or within 7 days after objections to matters disclosed in the Commitment or
by the survey have been cured, whichever date is later (the Closing Date). If financing or
assumption approval has been obtained pursuant to Paragraph 4, the Closing Date will
be extended up to 15 days if necessary to comply with lender's closing requirements (for
example, appraisal, survey, insurance policies, lender-required repairs, closing
documents). If either party fails to close this sale by the Closing Date, the non-defaulting
party will be entitled to exercise the remedies contained in Paragraph 15. At closing
Seller shall furnish tax statements or certificates showing no delinquent taxes and a
general warranty deed conveying good and indefeasible title showing no additional
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 9 of 14 exceptions to those permitted in Paragraph 6.10. POSSESSION : Seller shall deliver possession of the Property to Buyer on
_____________ in its present or required repaired condition, ordinary wear and tear
excepted. Any possession by Buyer prior to closing or by Seller after closing which is not
authorized by a temporary lease from promulgated by _______ or required by the parties
will establish a tenancy at sufferance relationship between the parties. Consult your
insurance agent prior to change of ownership or possession as insurance coverage may
be limited or terminated. The absence of a written lease or appropriate insurance
coverage may expose the parties to economic loss.11.SPECIAL PROVISIONS: (Insert only factual statements and business details
applicable to this sale. _______ rules prohibit licensees from adding factual statements or
business details for which a contract addendum, lease or other form has been
promulgated by _______ for mandatory use.)12. SETTLEMENT AND OTHER EXPENSES:A. The following expenses must be paid at or prior to closing:(1) Appraisal fees will be paid by ______________________________________.(2) The total of loan discount fees (including any ____________ Veterans’
Housing Assistance Program Participation Fee) may not exceed _____% of the
loan of which Seller shall pay ___________________ and Buyer shall pay the
remainder. The total of any buydown fees may not exceed ________________
which will be paid by ___________________________.(3) Seller's Expenses: Releases of existing liens, including prepayment penalties and recording fees; release of Seller’s loan liability; tax statements or certificates;
preparation of deed; one-half of escrow fee; and other expenses stipulated to be
paid by Seller under other provisions of this contract.(4) Buyer’s Expenses: Loan application, origination and commitment fees; loan assumption costs; preparation and recording of deed of trust to secure assumption;
lender required expenses incident to new loans, including PMI premium,
preparation of loan documents, recording fees, tax service and research fees, warehouse or underwriting fees, copies of restrictions and easements, amortization schedule, premiums of mortgagee title policies and endorsements
required by lender, credit reports, photos; required premiums for flood and hazard
insurance; required reserve deposit for insurance premiums and ad valorem taxes;
interest on all monthly installment notes from date of disbursements to one month
prior to dates of first monthly payments; customary Program Loan costs for
Buyer; one-half of escrow fee; and other expenses stipulated to be paid by Buyer
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 10 of 14 under other provisions of this contract.B. If any expense exceeds an amount expressly stated in this contract for such expense
to be paid by a party, that party may terminate this contract unless the other party agrees
to pay such excess. In no event will Buyer pay charges and fees expressly prohibited by
the Texas Veterans’ Housing Assistance Program or other governmental loan program
regulations.13.PRORATIONS AND ROLLBACK TAXES: PRORATIONS: Taxes for the current year, maintenance fees, assessments, dues and rents will
be prorated through the Closing Date. If taxes for the current year vary from the amount prorated
at closing, the parties shall adjust the prorations when tax statements for the current year are
available. If a loan is assumed and the lender maintains an escrow account, the escrow account
must be transferred to Buyer without any deficiency. Buyer shall reimburse Seller for the
amount in the transferred account. Buyer shall pay the premium for a new insurance policy.
If taxes are not paid at or prior to closing, Buyer will be obligated to pay taxes for the current
year.ROLLBACK TAXES: If this sale or Buyer’s use of the Property after closing results in the
assessment of additional taxes, penalties or interest (Assessments) for periods prior to closing,
the Assessments will be the obligation of Buyer. If Seller’s change in use of the Property prior
to closing or denial of a special use valuation on the Property claimed by Seller results in
Assessments for periods prior to closing, the Assessments will be the obligation of Seller.
Obligations imposed by this paragraph will survive closing.14.CASUALTY LOSS: If any part of the Property is damaged or destroyed by fire or other
casualty loss after the effective date of the contract, Seller shall restore the Property to its
previous condition as soon as reasonably possible, but in any event by the Closing Date. If Seller
fails to do so due to factors beyond Seller’s control, Buyer may either (a) terminate this contract
and the earnest money will be refunded to Buyer (b) extend the time for performance up to 15
days and the Closing Date will be extended as necessary or (c) accept the Property in its
damaged condition and accept an assignment of insurance proceeds. Seller’s obligations under
this paragraph are independent of any obligations of Seller under Paragraph 7.15.DEFAULT: If Buyer fails to comply with this contract, Buyer will be in default, and
Seller may either (a) enforce specific performance, seek such other relief as may be provided by
law, or both, or (b) terminate this contract and receive the earnest money as liquidated damages,
thereby releasing both parties from this contract. If, due to factors beyond Seller’s control, Seller
fails within the time allowed to make any non-casualty repairs or deliver the Commitment, Buyer
may either (a) extend the time for performance up to 15 days and the Closing Date will be
extended as necessary or (b) terminate this contract as the sole remedy and receive the earnest
money. If Seller fails to comply with this contract for any other reason, Seller will be in default
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 11 of 14 and Buyer may either (a) enforce specific performance, seek such other relief as may be provided
by law, or both, or (b) terminate this contract and receive the earnest money, thereby releasing
both parties from this contract.16.DISPUTE RESOLUTION: It is the policy of the State of ________ to encourage the
peaceable resolution of disputes through alternative dispute resolution procedures. The
parties are encouraged to use an addendum approved by _______ to submit to mediation
disputes which cannot be resolved in good faith through informal discussion.17. ATTORNEY'S FEES: The prevailing party in any legal proceeding brought under or
with respect to the transaction described in this contract is entitled to recover from the
non-prevailing party all costs of such proceeding and reasonable attorney’s fees.18.ESCROW: The earnest money is deposited with escrow agent with the understanding
that escrow agent is not (a) a party to this contract and does not have any liability for the
performance or nonperformance of any party to this contract, (b) liable for interest on the
earnest money and (c) liable for any loss of earnest money caused by the failure of any
financial institution in which the earnest money has been deposited unless the financial
institution is acting as escrow agent. At closing, the earnest money must be applied first
to any cash down payment, then to Buyer's closing costs and any excess refunded to
Buyer. If both parties make written demand for the earnest money, escrow agent may
require payment of unpaid expenses incurred on behalf of the parties and a written release
of liability of escrow agent from all parties. If one party makes written demand for the
earnest money, escrow agent shall give notice of the demand by providing to the other
party a copy of the demand. If escrow agent does not receive written objection to the
demand from the other party within 30 days after notice to the other party, escrow agent
may disburse the earnest money to the party making demand reduced by the amount of
unpaid expenses incurred on behalf of the party receiving the earnest money and escrow
agent may pay the same to the creditors. If escrow agent complies with the provisions of
this paragraph, each party hereby releases escrow agent from all adverse claims related to
the disbursal of the earnest money. Escrow agent's notice to the other party will be
effective when deposited in the U. S. Mail, postage prepaid, certified mail, return receipt
requested, addressed to the other party at such party's address shown below. Notice of
objection to the demand will be deemed effective upon receipt by escrow agent.19.REPRESENTATIONS: Seller represents that as of the Closing Date (a) there will be no
liens, assessments, or security interests against the Property which will not be satisfied
out of the sales proceeds unless securing payment of any loans assumed by Buyer and (b)
assumed loans will not be in default. If any representation in this contract is untrue on the
Closing Date, this contract may be terminated by Buyer and the earnest money will be
refunded to Buyer. All representations contained in this contract will survive closing.
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 12 of 14 20.FEDERAL TAX REQUIREMENT: If Seller is a "foreign person", as defined by
applicable law, or if Seller fails to deliver an affidavit that Seller is not a "foreign
person", then Buyer shall withhold from the sales proceeds an amount sufficient to
comply with applicable tax law and deliver the same to the Internal Revenue Service
together with appropriate tax forms. IRS regulations require filing written reports if cash
in excess of specified amounts is received in the transaction.21.AGREEMENT OF PARTIES: This contract contains the entire agreement of the
parties and cannot be changed except by their written agreement. Addenda which are a
part of this contract are
(list):__________________________________________________________________________________________________________________________.22. CONSULT YOUR ATTORNEY: Real estate licensees cannot give legal advice. This
contract is intended to be legally binding. READ IT CAREFULLY. If you do not
understand the effect of this contract, consult your attorney BEFORE signing.Buyer’s Seller’sAttorney is:______________________________Attorney is:__________________________23.NOTICES: All notices from one party to the other must be in writing and are effective
when mailed to, hand-delivered at, or transmitted by facsimile machine as follows:To Buyer at: To Seller at:_______________________________________ _______________________________________________________________________________________________________________________________________________________________________________________Telephone ( )__________________________ Telephone ( )_______________________Facsimile ( )____________________________ Facsimile ( )________________________EXECUTED the ____ day of _______________, 20_____ (THE EFFECTIVE DATE).
(BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.)
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 13 of 14 _________________________________________________________________________BuyerSeller_________________________________________________________________________BuyerSellerThe form of this contract has been approved by the Texas Real Estate Commission. Such
approval relates to this contract form only. No representation is made as to the legal validity or
adequacy of any provision in any specific transaction. It is not suitable for complex
transactions. Extensive riders or additions are not to be used. BROKER INFORMATION AND RATIFICATION OF FEE Listing Broker has agreed to pay Other Broker _________________________ of the total sales
price when Listing Broker’s fee is received. Escrow Agent is authorized and directed to pay
Other Broker from Listing Broker’ s fee at closing._______________________________________ ___________________________________Other Broker License No. Listing Broker License No.represents ( ) Seller as Listing Broker’s subagent represents ( ) Seller and Buyer as an
intermediary ( ) Buyer only as Buyer’s agent ( ) Seller only as
Seller’s agent__________________________________ __________________________________ Listing Associate Telephone Selling Associate Telephone__________________________________ ___________________________________Associate Telephone Associate Telephone__________________________________ ___________________________________Broker AddressBroker Address_____________________________________________________________________Telephone FacsimileTelephone Facsimile
Farm and Ranch ContractInitialed for identification by Buyer_________and Seller_________ Page 14 of 14RECEIPT Receipt of ( ) Contract and ( ) $_______________ Earnest Money in the form of
________________________ is acknowledged.Escrow Agent:__________________________ Date: _______________________,20_____By:_________________________________________________________________________Telephone ( )_______________________Address______________________________________Facsimile ( )________________________City State Zip Code
