Addendum

TXR 1946 — Commercial Contract Condominium Addendum (Incomplete Construction)

Modifies a TXR commercial contract for the purchase of a commercial condominium unit that is not yet complete. It amends the Property to include the improvements described in the Construction Documents, the unit's undivided interest in the common elements and any assigned limited common elements (parking, storage); records whether the Buyer has received the condominium information statement (§82.153, Texas Property Code) or when the Seller will furnish it, with the Buyer's 6-day cancellation right; governs construction — the Construction Documents, written change orders and how cost increases are paid, the Buyer's selection deadline, the commencement deadline and the substantial completion date with force-majeure extensions, material substitution and warranty limits; allocates the association's transfer or processing fee to Seller or Buyer; and carries special provisions. Executed by Seller and Buyer with up to two signers each.

Source: TXR
Form Number: 1946
Category: Addendum
Revised: April 1, 2018

Used For

Commercial Sales, Residential Sales

Form Outline

The TXR 1946 form is organized into the following sections:

  1. Property Identification
    "ADDENDUM TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED SELLER AND BUYER CONCERNING THE PROPERTY AT ___" — one rule; repeated in the "Commercial Contract Condominium Addendum concerning: ___" running header on page 2.
  2. A. PROPERTY
    Paragraph 2 of the contract is amended to include the improvements, fixtures and other property described in the Construction Documents (the unit), the unit's undivided interest in the common elements, the limited common elements appurtenant to the unit and the other rights to use common elements specifically assigned to the unit, "including but not limited to parking and storage areas assigned to the unit, which are: ___".
  3. B. CONDOMINIUM INFORMATION STATEMENT
    "Condominium information statement" means the information described by §82.153, Texas Property Code. (Check one box only.) ❑ (1) Buyer has received a copy; ❑ (2) Buyer has not received a copy — within ___ days after the effective date Seller will furnish it at Seller's expense, and Buyer may cancel the contract before the 6th day after receiving it by written notice by hand-delivery or certified mail.
  4. C. CONSTRUCTION ISSUES
    (1) CONSTRUCTION DOCUMENTS — Seller completes the improvements per the Construction Documents (plans, specifications, finish-out schedules, change orders, allowances), which are signed and incorporated. (2) COST ADJUSTMENTS — change orders in writing; cost increases over the allowances "will be paid by Buyer as follows: ___"; decreases reduce the Sales Price. (3) BUYER'S SELECTIONS — "within ___ days after notice from Seller". (4) COMPLETION — "commence construction no later than ___ days after the effective date"; "ready for occupancy not later than ___, 20__" (Substantial Completion Date), with force-majeure extensions never past the Closing Date and comparable-quality substitutions. (5) WARRANTIES — no express warranties beyond the contract; assignable manufacturer warranties assigned at closing.
  5. D. CONDOMINIUM ASSOCIATION FEES
    Buyer pays any deposits for reserves required at closing by the condominium owners' association. "Any other transfer or processing fee payable to the condominium owners' association will be paid by ❑ Seller ❑ Buyer."
  6. E. SPECIAL PROVISIONS
    Unruled white space (about nine lines) between the heading and the signature blocks.
  7. Seller Execution
    Left column: "Seller: ___" then two signer blocks "By: ___ / By (signature): ___ / Printed Name: ___ / Title: ___". The signature rules are e-sign tabs; there is no Date line.
  8. Buyer Execution
    Right column: "Buyer: ___" then two signer blocks "By: ___ / By (signature): ___ / Printed Name: ___ / Title: ___". The signature rules are e-sign tabs; there is no Date line.

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