ANTELOPE ACRE ESTATES
3105 N. Yarbrough, Suite 105, El Paso, Texas 79925
(800) 418-3015 or (915) 585-2000


CONTRACT OF SALE


This Contract of Sale is made and entered into by and between ANTELOPE ACRE ESTATES, hereinafter called Seller, and ______________________________________, hereinafter call Purchaser.

The Seller agrees to sell and the Purchaser agrees to buy the following described property situated in Hudspeth County, Texas:
  Section ,   Tract    ,  Block 71,   Township 2,   T & P Railroad Survey  
upon the following terms and conditions:

Purchase Price:

1. Cash Price     $20,000.00    
2. Cash Down Payment     $500.00    
3. Unpaid Balance of Cash Price     $19,500.00    
4. Annual Percentage Rate        6%            
5. Number of Monthly Installments        139              
6. Amount of Monthly Installments     $195.00         
7. First Due Date On or Before                          
8. Current Annual Well Fee        $20              

Taxes: Taxes for current year are estimated at approximately    $70    .

Community Well and Roads: Purchaser has use of the community well. Seller will be responsible for performing any maintenance and repairs to the community well including the payment of electricity for running the pump. In addition, seller will be responsible for the annual blading of dirt roads. Purchaser will be required to make an annual payment of twenty dollars ($20.00) per year for this maintenance.

Representation: Purchaser represents to the Seller that he is buying the premises based upon his own examination and judgment, and not in reliance upon any representations or promises not herein contained. Purchaser understands that stock may graze the premises until fenced off by Purchaser, and that the access to property is over dirt roads. Electricity has been brought down every road.

Possession and Deed: Upon request, after 25% has been paid to the Seller, the Seller agrees to deliver to the Purchaser a General Warranty Deed which shall be subject to taxes for the year during which this Contract of Sale is executed, any and all prior mineral reservations, and any right-of-ways for roads and easements, if any, of record or apparent on the ground.

Possession: It is expressly understood that Purchaser cannot take physical possession of property until $2,500.00 is paid. No permanent structures shall exist on said property until 2,500.00 dollars is paid.

Covenants: No junk yards; vehicles not in running condition must be removed; trash must be dumped on a regular basis; no pig farms; all permanent residents must have a septic system; subdividing of this land is not permitted, no more then two homes per tract.

Default: If Purchaser fails to make three (3) consecutive monthly payments or fails to make an aggregate of six (6) monthly payments, this contract will be in default.

In the event of default the Seller may terminate and cancel this Contract and forfeit the interest of the Purchaser herein by giving thirty (30) days written notice.

In the event of default, if the Seller elects to declare this Contract cancelled, all monies that have been paid to or deposited with Seller hereunder shall be forfeited and belong to Seller.

Notices: Notice shall be given in writing and shall either be mailed or hand delivered. If mailed, it will be addressed to Purchaser at the address noted on this contract.

Prohibition Against Assignment: It is specifically understood and agreed that Purchaser shall not sell, assign, transfer, pledge or hypothecate this Contract, or the rights hereunder, without the prior written consent of Seller, which consent shall not be unreasonably withheld.

Only Agreement: This instrument is the entire and only agreement between the parties hereto and it incorporates all prior statements, written or verbal, express or implied, which might have or might have been made by either party or any agent of either party in connection with the sale and purchase of said property.

Time of Essence: Time is of the essence of this agreement. This agreement and performance hereof shall be construed under the laws of the State of Texas. In the event that one or more of the provisions of this agreement shall be found invalid, such invalidity shall not affect the remaining portions of this Contract.

Acceptance by ANTELOPE ACRE ESTATES: This Contract shall only be valid upon the written acceptance by the Seller.


Purchaser:________________________________________________________________________

Purchaser:________________________________________________________________________


Date of Signature:______________________________


Social Security Number:_________________________


Address:_________________________________________________________________________

________________________________________________________________________________


Telephone Number:____________________


ACCEPTED by ANTELOPE ACRE ESTATES the ______ day of _______________, 20____.

ANTELOPE ACRE ESTATES


By: _____________________


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