Agreement to Bid

I, the undersigned, in consideration of the United States Government offering for public sale the property described below, agree to bid at least the amount of $140,000.00 for the property if offered for sale within 120 days from the date of this agreement.  

Property Description: Two tracts of land in Willacy County, Texas more fully described on Exhibit A attached.

I authorize the enclosed deposit of $28,000.00 to be applied against the sale price if I am the successful bidder.

I further understand and agree that if I do not bid at least the amount specified in this agreement to bid and the property is not sold within the time specified above for at least such amount, my deposit will be retained pending final determination of the damages sustained by the Government because of the default.  If damages exceed the amount of the deposit, I will be liable for the excess damages.

I understand that the Government reserves the right to reject any and all bids, and to withdraw the property from sale.

Name (print)__________________________________

Address _____________________________________

City, State, Zip ________________________________

Telephone No._________________________________

Date_________________________________________

Signature_____________________________________

EXHIBIT A

TRACT 1:

The East ten acres (E. 10 Ac.) of Lot Number Nine (9), Section Number Forty-six (46), GULF COAST IRRIGATION COMPANY SUBDIVISION, Willacy County, Texas, according to the official map or plat thereof, LESS AND EXCEPT that part thereof which was conveyed to The State of Texas for roadway purposes of record in Volume 76, Pages 563-565, Deed Records of Willacy County, Texas.

TRACT 2:

A 3.078 acre tract of land out of Lot Sixteen (16), Section One (1) of the RAYMOND TOWN and IMPROVEMENT COMPANY SUBDIVISION, Willacy County, Texas; according to Volume 1, Page 575 of the Transcribed Records Cameron County to Willacy County, Texas; said 3.078 acre tract of land being more particularly described as follows:

COMMENCING at the intersection of the North line of said Lot 16, and the East right of way line of Business Highway 77; said intersection being within the 100.00 feet right of way of F.M. 3168;

THENCE, South 07°37’ 20” W., (Calc. and Meas.) (South 07° 39’ West-Deed), with and along the East right of way line of said Business Highway 77, a distance of 376.36 feet to the POINT OF BEGINNING and Northwest corner of the tract herein described; said corner being marked by a ½ inch diameter steel bar found;

THENCE, East, parallel with the South right of way line of said F. M. 3168 and North line of said Lot 16, a distance of 436.00 feet to a ½ inch diameter steel bar found for the Northeast corner of this tract;

THENCE; South 07° 37’ 20” West, parallel with the East right of way line of said Business Highway 77, a distance of 310.24 feet to a ½ inch diameter steel bar found for the Southeast corner of this tract;

THENCE, West, parallel with the North line of said Lot 16, a distance of 436.00 feet to a ½ inch diameter steel bar found on the East right of way line of Business Highway 77 for the Southwest corner of this tract;

THENCE, North 07° 37’ 20” East, (Calc. and Meas.) (North 07° 39’ East-Deed) with and along the East right of way line of said Business Highway 77, a distance of 310.24 feet to the POINT OF BEGINNING.