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(W CONTRACT FOR SALE OF REAL PROPERTY <br /> This contract is made and entered into this <br /> day of <br /> lVe e ezzz A.-,2,- 1989 , by and between Worthen Bank & Trust <br /> Company, N.A. , a state chartered banking institution with its <br /> principal place 'of business in the City of Little Rock, Pulaski <br /> County, Arkansas (hereinafter called "Seller" ) , and the City of <br /> Batesville, Independence County, Arkansas (hereinafter referred <br /> to as "Buyer") . <br /> KNOW ALL MEN BY THESE PRESENTS THAT: <br /> WHEREAS, Seller has agreed to sell, and Buyer has agreed to <br /> buy, subject to the terms and conditions hereof, that certain <br /> parcel of real property situated in Independence County, <br /> 4W Arkansas, as described more fully herein, for the purchase price <br /> of $700, 000; and <br /> WHEREAS, the parties wish to reduce to writing the terms <br /> and conditions of their agreement . <br /> NOW, THEREFORE, for in consideration of the mutual <br /> covenants and agreements herein contained, the parties do hereby <br /> agree as follows : <br /> 1 . AGREEMENT OF SALE: Seller does hereby agree - to sell <br /> and convey unto Buyer, and Buyer does hereby agree to purchase <br /> from Seller, upon the terms and conditions and subject to the <br /> provisions hereinafter set forth, a parcel of real property <br /> located in the City of Batesville, Independence County, <br /> Arkansas, as more particularly described in the legal <br />