Farm & Ranch Contract — Full Text

TREC Form 25-11 (Promulgated 11-2-2015). Closing: April 1, 2018. This is the complete contract text.

1. Parties

The parties to this contract are Paul Walhus, Dorothy Epp (Seller) and Cindy Nan Donley, Thomas David Pope (Buyer). Seller agrees to sell and convey to Buyer and Buyer agrees to buy from Seller the Property defined below.

2. Property

The land, improvements, accessories and crops except for the exclusions and reservations, are collectively referred to as the "Property".

A. Land

The land situated in the County of Bastrop, Texas, described as follows: A225 Leverance, L. Tract 2 FR, Acres 6.116 and A225 Leverance, L. Tract 1 FR, Acres 6.039 or as described on attached exhibit, also known as TBD Shiloh Rd, Cedar Creek, TX 78612, together with all rights, privileges, and appurtenances pertaining thereto, including but not limited to: water rights, claims, permits, strips and gores, easements, and cooperative or association memberships.

B. Improvements

(1) Farm and Ranch Improvements: The following permanently installed and built-in items, if any: windmills, tanks, barns, pens, fences, gates, sheds, outbuildings, and corrals.

(2) Residential Improvements: The house, garage, and all other fixtures and improvements attached to the above-described real property, including without limitation, the following permanently installed and built-in items, if any: all equipment and appliances, valances, screens, shutters, awnings, wall-to-wall carpeting, mirrors, ceiling fans, attic fans, mail boxes, television antennas, mounts and brackets for televisions and speakers, heating and air-conditioning units, security and fire detection equipment, wiring, plumbing and lighting fixtures, chandeliers, water softener system, kitchen equipment, garage door openers, cleaning equipment, shrubbery, landscaping, outdoor cooking equipment, and all other property owned by Seller and attached to the above described real property.

C. Accessories

(1) Farm and Ranch Accessories: submersible pumps, pressure tanks, corrals, gates, chutes, and other: See attached non-realty items addendum.

(2) Residential Accessories: window air conditioning units, stove, fireplace screens, curtains and rods, blinds, window shades, draperies and rods, door keys, mailbox keys, above ground pool, swimming pool equipment and maintenance accessories, artificial fireplace logs, and controls for: (i) garages, (ii) entry gates, and (iii) other improvements and accessories.

D. Crops

Unless otherwise agreed in writing, Seller has the right to harvest all growing crops until delivery of possession of the Property.

E. Exclusions

The following improvements, accessories, and crops will be retained by Seller and must be removed prior to delivery of possession: [none specified].

F. Reservations

Any reservation for oil, gas, or other minerals, water, timber, or other interests is made in accordance with an attached addendum or Special Provisions.

3. Sales Price

D. The Sales Price will not be adjusted based on the survey required by Paragraph 6C.

4. License Holder Disclosure

5. Earnest Money

$5,000.00 deposited with Austin Title — Tracey Hendrix, as escrow agent, at 3520 Bee Caves Road, Ste 250, Austin, TX 78746.

6. Title Policy and Survey

A. Title Policy: Seller shall furnish to Buyer at Seller's expense an owner policy of title insurance issued by Austin Title in the amount of the Sales Price.

B. Commitment: Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Buyer a commitment for title insurance.

C. Survey: The survey must be made by a registered professional land surveyor acceptable to the Title Company and Buyer's lender(s).

D. Objections: Buyer may object in writing to defects, exceptions, or encumbrances to title disclosed on the survey.

E. Exception Documents: Prior to the execution of the contract, Seller has provided Buyer with copies of the Exception Documents.

F. Surface Leases: All current tenant leases attached to contract will be permitted exceptions in the Title Policy.

G. Title Notices: Contains standard statutory disclosures regarding utility service providers, public improvement districts, private transfer fees, propane gas system service areas, and water level fluctuations.

7. Property Condition

A. Seller shall permit Buyer and Buyer's agents access to the Property at reasonable times.

B. Buyer has received the Seller's Disclosure Notice.

C. Lead-based paint disclosure required for pre-1978 dwellings.

D. Buyer accepts the Property As Is.

E-J. Standard provisions for repairs, lender requirements, environmental matters, seller's disclosures (no known issues), residential service contracts, and government programs (none).

8. Brokers' Fees

All obligations for payment of brokers' fees are contained in separate written agreements.

9. Closing

A. Closing on or before April 1, 2018.

B. At closing: Seller executes and delivers a general warranty deed. Buyer pays the Sales Price in good funds. Seller transfers security deposits for any residential leases.

10. Possession

Seller shall deliver possession upon closing and funding. After the Effective Date, Seller may not execute any lease or convey any interest without Buyer's written consent.

11. Special Provisions

• A new survey will be obtained at the equal expense of both buyer and seller no later than 2 days prior to the closing date.
• Seller financing terms: Loan Amount: $440,000; Interest Rate: 7% for 2 years, then 6% for 8 years; one $50,000 payment due in 2 years; 1 final balloon payment of at least $50,000 at maturity; Amortization: 10 year.
• Seller reserves access easement to property known as 1191 Shiloh Rd for ingress/egress and Cedar Creek recreational use.
• Seller reserves well access. Seller contributes up to $1,200/year for easement/well maintenance ($600 if 182 Clover taken off well).
• Seller retains right of first refusal if buyer decides to sell.
• In lieu of listing Broker's 1% commission to buyer's agent, buyer accepts a $5,000 reduction in sales price.
• Cargo container lease-back: $50/mo all bills paid for up to 7 years. Seller retains container. Seller to provide buyer with a replacement container.
• Buyer to make available a 50 x 100 area for $2,000.
• Right of way and well access by 182 Clover and the odd shaped parcel as long as sellers own them. Does not apply in event of foreclosure on 182 Clover.
• Seller pays up to $2,000 toward underground electrical and new electric pole.
• 7% interest for first 2 years, 6% for 8 years.
• $100,000 down — $50,000 now and $50,000 in 2 years.
• Monthly not be lower than $4,200.
• Net to seller not less than $30,000.
• Total realtor commission 6%.
• See new amortization schedule.

12. Settlement and Other Expenses

Standard: Seller pays releases of liens, preparation of deed, one-half of escrow fee. Buyer pays appraisal, loan application, recording fees, loan title policy, one-half of escrow fee.

13. Prorations and Rollback Taxes

Taxes for the current year, interest, maintenance fees, assessments, dues and rents prorated through the Closing Date.

14. Casualty Loss

Seller shall restore the Property if damaged by fire or other casualty after the effective date.

15. Default

Either party may enforce specific performance, seek other relief, or terminate the contract and receive earnest money as liquidated damages.

16. Mediation

Disputes shall be submitted to a mutually acceptable mediation service. Parties bear mediation costs equally.

17. Attorney's Fees

A prevailing party in any legal proceeding is entitled to recover reasonable attorney's fees and all costs.

18. Escrow

Escrow agent (Austin Title) is not a party to the contract. Standard provisions for earnest money release and demand process.

19. Representations

All covenants, representations and warranties survive closing.

20. Federal Tax Requirements

Standard IRS compliance guidelines for foreign persons.

21. Notices

22. Agreement of Parties

This contract contains the entire agreement. Addenda: Seller Financing Addendum and Non-realty items addendum.

23. Termination Option

$100.00 Option Fee. 7-day unrestricted termination right.

24. Consult an Attorney Before Signing

TREC rules prohibit real estate license holders from giving legal advice.

Signatures

Buyers: Cindy Nan Donley, Thomas David Pope

Sellers: Paul Terry Walhus, Dorothy Epp

Broker Information

Broker Fees: Seller pays Listing Broker 6% of Sales Price ($15,000 to High Def Realty).

Receipts

Option Fee Receipt: $100.00 acknowledged.

Earnest Money Receipt: $5,000.00 acknowledged by Escrow Agent.

Updated April 10, 2026 · Cindy Land Sale Directory · Financial Model · Hub