Common use of Notice to Subsequent Purchasers Clause in Contracts

Notice to Subsequent Purchasers. Upon the sale of a dwelling unit within the District, the purchaser of such property shall be provided a written notice that reads substantially similar to the following: TEXAS PROPERTY CODE SECTION 5.014 NOTICE OF OBLIGATION TO PAY PUBLIC IMPROVEMENT DISTRICT ASSESSMENT TO THE CITY OF PRINCETON, COLLIN COUNTY, TEXAS CONCERNING THE ASSESSED PARCELS As the purchaser of this parcel of real property, you are obligated to pay an assessment to the City of Princeton, Texas, for improvement projects undertaken by a public improvement district under Chapter 372 of the Texas Local Government Code, as amended. The amount of the assessment against your property may be paid in full at any time together with interest to the date of payment. If you do not pay the assessment in full, it will be due and payable in annual installments (including interest and collection costs). More information concerning the amount of the assessment and the due dates of that assessment may be obtained from the City of Princeton, 000 Xxxx Xxxxxxxxx Xxxxx, Xxxxxxxxx, XX 00000 Your failure to pay the assessment or the annual installments could result in the foreclosure of your property. Signature of Purchaser(s) Date: The seller shall deliver this notice to the purchaser before the effective date of an executory contract binding the purchaser to purchase the property. The notice may be given separately, as part of the contract during negotiations, or as part of any other notice the seller delivers to the purchaser. If the notice is included as part of the executory contract or another notice, the title of the notice prescribed by this section, the references to the street address and date in the notice, and the purchaser's signature on the notice may be omitted. EXECUTED by the undersigned on the date set forth below to be effective as of the date first above written.

Notice to Subsequent Purchasers. Upon the sale of a dwelling unit within the District, the purchaser of such property shall be provided a written notice that reads substantially similar to the following: TEXAS PROPERTY CODE SECTION 5.014 NOTICE OF OBLIGATION TO PAY PUBLIC IMPROVEMENT DISTRICT ASSESSMENT TO THE CITY OF PRINCETON, COLLIN COUNTY, TEXAS CONCERNING THE ASSESSED PARCELS PROPERTY AT [Street Address] As the purchaser of this parcel of real property, you are obligated to pay an assessment to the City of Princeton, Texas, for improvement projects undertaken by a public improvement district under Chapter 372 of the Texas Local Government Code, as amended. The assessment may be due in periodic installments. The amount of the assessment against your property may be paid in full at any time together with interest to the date of payment. If you do not pay the assessment in full, it will be due and payable in annual installments (including interest and collection costs). More information concerning the amount of the assessment and the due dates of that assessment may be obtained from the City of Princeton, 000 Xxxx Xxxxxxxxx Xxxxx, Xxxxxxxxx, XX 00000 TX . Your failure to pay the assessment or the annual installments could result in a lien and in the foreclosure of your property. Signature of Purchaser(s) Date: The seller shall deliver this notice to the purchaser before the effective date of an executory contract binding the purchaser to purchase the property. The notice may be given separately, as part of the contract during negotiations, or as part of any other notice the seller delivers to the purchaser. If the notice is included as part of the executory contract or another notice, the title of the notice prescribed by this section, the references to the street address and date in the notice, and the purchaser's ’s signature on the notice may be omitted. EXECUTED by the undersigned on the date set forth below to be effective as of the date first above written. LANDOWNER a Texas , By: _ , its manager STATE OF TEXAS ) ) COUNTY OF ) This instrument was acknowledged before me on the day of , 20 , by in his capacity as Manager of , known to be the person whose name is subscribed to the foregoing instrument, and that he executed the same on behalf of and as the act of Manager of . Notary Public, State of Texas My Commission Expires: LANDOWNER AGREEMENT - EXHIBIT III HOMEBUYER EDUCATION PROGRAM As used in this Exhibit III, the recorded Notice of the Authorization and Establishment of the Public Improvement District and the Covenants, Conditions and Restrictions in Exhibit II of this Agreement are referred to as the “Recorded Notices.”

Notice to Subsequent Purchasers. Upon the sale of a dwelling unit within the District, the purchaser of such property shall be provided the Home Buyer Education Program in the attached Exhibit B attached here a written notice that reads substantially similar to the following: TEXAS PROPERTY CODE SECTION 5.014 NOTICE OF OBLIGATION TO PAY PUBLIC IMPROVEMENT DISTRICT ASSESSMENT TO THE CITY OF PRINCETON, COLLIN COUNTY, TEXAS CONCERNING THE ASSESSED PARCELS PROPERTY AT [Street Address] As the purchaser of this parcel of real property, you are obligated to pay an assessment to the City of Princeton, Texas, for improvement projects undertaken by a public improvement district under Chapter 372 of the Texas Local Government Code, as amended. The assessment may be due in periodic installments. The amount of the assessment against your property may be paid in full at any time together with interest to the date of payment. If you do not pay the assessment in full, it will be due and payable in annual installments (including interest and collection costs). More information concerning the amount of the assessment and the due dates of that assessment may be obtained from the City of Princeton, 000 Xxxx Xxxxxxxxx XxxxxX. Xxxx, Xxxxxxxxx, XX Xxxxx 00000 Your failure to pay the assessment or the annual installments could result in a lien and in the foreclosure of your property. Signature of Purchaser(s) Date: The seller shall deliver this notice to the purchaser before the effective date of an executory contract binding the purchaser to purchase the property. The notice may be given separately, as part of the contract during negotiations, or as part of any other notice the seller delivers to the purchaser. If the notice is included as part of the executory contract or another notice, the title of the notice prescribed by this section, the references to the street address and date in the notice, and the purchaser's ’s signature on the notice may be omitted. EXECUTED by the undersigned on the date set forth below to be effective as of the date first above written. LANDOWNER a Texas , By: , its manager STATE OF TEXAS § § COUNTY OF § This instrument was acknowledged before me on the day of , 20 , by in his/her capacity as Manager of , known to be the person whose name is subscribed to the foregoing instrument, and that he/she executed the same on behalf of and as the act of Manager of . Notary Public, State of Texas [SEAL] [TO BE INSERTED] Exhibit B to Lien Declaration HOME BUYER EDUCATION PROGRAM As used in this Home Buyer Education Program, the recorded Notice of the Authorization and Establishment of the Windmoor Public Improvement District and the foregoing Covenants, Conditions and Restrictions are referred to as the “Recorded Notices.”