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EXHIBIT 10.2
THE STATE OF TEXAS
ss.
ss.
CONTRACT OF SALE
COUNTY OF __________
ss.
This Sales Contract, made and entered into and upon this 1st day
of
December, 2006, by and between Marrs & Smith, Ltd., hereinafter
called "Seller",
and Texas Landscape Center, Inc., hereinafter called "Buyer".
W I T N E S S E T H :
I.
That Seller hereby agrees to sell to Buyer and Buyer hereby agrees
to
purchase from Seller all that certain tract or parcel of land lying
and being
situated in Ector County, Texas, which is described as follows,
to-wit:
Lot 1, Block 1, Wolfe Nursery Addition, Odessa, Texas, commonly
known
as 3600 Andrews Highway, Odessa, Texas 79762
together with any and all improvements situated thereon (except as
may be
hereinafter more particularly enumerated), with the special
agreement and
understanding that such sale and the conveyance to be made in
consummation
thereof shall be made subject to any valid and subsisting oil, gas
and mineral
lease of record covering said property, to any valid and subsisting
easements or
rights of way of record or visibly appropriated upon said property,
and subject
to any outstanding oil, gas and mineral interests of record in the
County where
the land is located.
II.
That Buyer agrees and promises to pay to Seller a base purchase
price
for said property in the amount of Eight Hundred Sixty-One Thousand
Seven
Hundred Four and 33/100ths Dollars ($861,704.33). Buyer may be
entitled to a
discount in the event that the Buyer closes this transaction prior
to December
1, 2008. Such discount shall be negotiated by and between Buyer and
Seller upon
Buyer's notification to Seller that Buyer is ready to close the
transaction.
III.
That Seller agrees, at Buyer's expense, to furnish to Buyer an
owner's
title insurance policy from a reputable title insurance company
reflecting
merchantable fee simple title to the above-described property in
Buyer for the
full amount of the purchase price, and containing only the
standard, usual and
normal exceptions to title with Seller being able to furnish such
an owner's
title insurance policy as hereinabove described, within a
reasonable time, such
reasonable time not to exceed a period of ninety (90) days from the
date of
closing, then this Contract shall end and be of no further force
and effect as
to either of the parties hereto, and th
