www.craigbrowne.com

RILEY MOUNTAIN RANCH

LLANO, TEXAS

This Property is marketed by Browne & Associates, the Commercial Division of Ashford Square Realty.

For more information, contact

Craig Browne (979) 255-0101

craig@craigbrowne.com

All information contained herein is from sources deemed to be reliable. However, Browne & Associates and Ashford Square Realty L.L.C. make no guarantees, warranties or representations as to the accuracy or completeness thereof. This offering is subject to errors and omissions, changes in price prior to sale or withdrawal without notice

RILEY MOUNTAIN RANCH

TABLE OF CONTENTS

Preface/Intro

Brochure

Maps

Llano County

Water

Resume

Articles

Contract

Photos

RILEY MOUNTAIN

RANCH

PREFACE

In being a long time Real Estate Broker and an Accredited Land Consultant, I had no-

ticed a change in the Hill Country real estate market in 2001. Upon this noticeable

change, I investigated the possibility of doing an acreage lot subdivision in Blanco

County specifically the Johnson City area. At the conclusion of this investigation I

found that there were no upper end estate lots available in this area. With this infor-

mation in hand I teamed up with my friend and prominent developer out of Austin,

Robbie Mayfield, to search out possible ranch land for this style of development.

Shortly thereafter we put under contract some 750 acres ideally located in Blanco

County near Johnson City. This acreage would soon become known as Sandy Oaks.

During the feasibility period of said contract I acquired investors to purchase this

property and Mr. Mayfield went to work creating a land plan and doing all the neces-

sary work for the project development including platting approval, entry and road

construction, and site restrictions. Being ahead of the development bubble for this

prime area we were able to pay off the initial investment note within six months and

had all lots in the entire subdivision sold within three years. Today Sandy Oaks is still

one of the most successful subdivisions in the Hill Country. Having been successful

with this project we began to look at investing in other properties in the area. How-

ever, during the development time frame the average tract price in the Hill Country

had increased by triple the price per acre of the original property. Due to this we

elected to wait until the market settled down. As you will see in “Up, Up, And Away”

an article in the Texas Real Estate Research publication that this increase continued at

a rate of 20+% per annum through 2008.

In 2009 the market began to settle down due to statewide drought and other extenuat-

ing circumstances. Also, during this time the general market became very idle. In light

of this settling down Robbie and I commenced searching for properties in the Hill

Country that would fit our model and that could be purchased at below current market

prices, with the potential to duplicate the Sandy Oaks project. After looking at dozens

of properties that did not fit this criteria we stumbled upon a ranch tract that lends it-

self to very little needed development with much upside in future value. Riley Moun-

tain Ranch is one of the most attractive pieces of property located in Llano County just

outside of Llano and only about 1 hour and 15 minutes from Austin. This property has

an over abundance of surface and underground water for this area, being three creeks,

two large lakes, and Hickory Aquifer that can be tapped into for large well develop-

ment.

I believe that we are once again ahead of the bubble for development in this area of the

Hill Country. I can see Llano becoming the next “Fredericksburg” within the next five

to ten years if the economy continues to be stable as is predicted for Texas.

We are have under contract a property located in the center triangle of the Hill Coun-

try. With this property having an over abundance of surface water and underground

aquifers for this area it lends itself to be a premier property with high future value in

the Hill Country. Our goal for ourselves and all investors obviously is to make money.

In order for this to happen the property will need to be held for a time period that in

order to ensure that all investors receive a substantial return. During this holding time

the property will be available for use by and the personal enjoyment of all parties in-

volved in this project. The research has been done to document future sales prices in

order to accomplish the goal of a prosperous project for all.

RILEY MOUNTAIN

RANCH

This was a part of a large ranch that has been in the

same family since the 1880’s. This ranch with incredible

views and an abundance of surface and underground

water supplied by the Hickory Aquifer is located 9 miles

southeast of Llano, high up in the Riley Mountains,

approximately 1 hour from Austin, 1.5 hours from San

Antonio and 40 minutes from Fredericksburg.

500 ACRES IN LLANO COUNTY

The topography is dramatic with elevations reaching

1600 feet (you can see the city of Llano), providing

incredible home sites and miles of Hill Country Views.

This ranch has unique rock out crops, tons of live oaks,

Post Oaks, Elms, Deer Persimmon, huge “Spanish

Daggers” (Yucca), and other native Hill Country Flora.

With a strong Cedar eradication program started 8

years ago it is almost void of Cedars. Having all this

great native landscape and being in the Riley

Mountain Wildlife Management Area there is an

abundance of Deer on this property including class

150+ bucks. High fencing on the County Rd side helps

protect wildlife while the rest of the ranch has barbed

wire fencing.

This ranch has 3 creeks; Honey, Salt Branch, and Pyramid

which is a Live Creek that runs year round and feeds the 2

Trophy Bass Lakes. Pyramid runs, even during droughts,

with clear pools, natural rock crossings, and small natural

waterfalls adding to the beauty of this unique property. In

addition to this great water supply Riley Mountain Ranch is

in the best area for groundwater in Llano County, sitting

atop the Hickory Sands, Lion Mountain, and Welge Forma-

tions. You can drill a successful water well any where you

want. With Electrical access located along County Rd 312

and the ranch being Ag Exempt with taxes being less than

$1000.00 per year it is an ideal investment property.

To view this property please contact Craig Browne at 979-255-0101

or email at craig@craigbrowne.com

All information contained herein is from sources deemed to be reliable. However, no warranty or representation is made as to the accuracy thereof.

This offering is subject to errors and omissions, changes in price, prior sale or withdrawal without notice

500 ACRES IN LLANO COUNTY

RILEY MOUNTAIN RANCH

Llano was founded in 1855 on the banks of the clear spring-fed Llano River and became the county seat in 1856. Well established by 1860 with stores, saloons, and a hotel there was no church in the rough frontier village. Llano was the last train stop for settlers heading West. Travelers heading West from Llano faced hostile Indian territory and the rough West Texas terrain. Llano is rich with history of Indian conflicts, raids, famous outlaws, and even a family shoot out right downtown. Old railroad hotels dotted the border of the rail yard and one of those hotels is still in operation today. Llano has kept much of its frontier charm and attitude and now brands itself as "The Way Texas Used To Be." The entire downtown has been designated a National Historic District, and a comprehensive walking tour is a must for the short or long term visitor. On any given weekend visitors can see real cowboys, cowgirls, World Champion Rodeo cowboys, and even some old character right out of the Old West. No one is a stranger in Llano where "Texas Friendly" is the official language. Llano is nationally known as the "Deer Capital of Texas" and hosts many hunters seeking the abundance of white-tailed deer in the Fall-Winter season. Year-round fishing in the picturesque Llano River and surrounding Highland Lakes area makes Llano a sportsman's dream destination. Rockhounds from around the world descend on Llano throughout the year to hunt for the elusive "Lanite" or pan for gold in the Llano River. Llano is the official site of the yearly "State of Texas Gold Panning Championships" held in September of each year. Llano is also the home of Enchanted Rock a massive dome of solid granite famed in Indian leg-end; said to be a site of human sacrifice and healing. Visitors report of healings and other paranormal experiences while climbing on the massive granite outcropping. While in Llano do not miss the Old Red Top Jail, The Historic Lantex Theater, The Llano County Museum, The Historic Railyard District, the recently remodeled Llano County Courthouse, the Inks bridge or the beautiful City parks that wind along the banks of the Llano River. If you want to experience the "Old West" Llano is the place to be. Llano is nationally recog-nized as the home for some of the largest historical events and festivals including an an-nual "Texas Proud" Festival which features the largest reenactment competition held in the State of Texas, Llano County Heritage Days, Llano's Confederate Reunion and Cotillion, an annual Gold and Gem rendezvous, and an annual Chuckwagon cookoff. All these events are designed with the family in mind and to help preserve Llano's colorful past. Whether you come for a day, a week, a month, or a lifetime, Llano is a destination sure to spawn fond memories for the entire family.

500 ACRES IN LLANO COUNTY

RILEY MOUNTAIN RANCH

LLANO COUNTY. Llano County (I-15), in Central Texas, is bounded on the north by San Saba County, on the east by Burnet County, on the south by Gillespie County, and on the west by Mason County. Llano, the county seat, is seventy-two miles northwest of Austin and near the center point of the county, which lies at approximately 98'40° west longitude and 30'45° north latitude. Llano County comprises 941 square miles of the Hill Country on the eastern part of the Edwards Plateau. Altitudes range from 800 to 2,000 feet above sea level. The county drains into the Colorado River, either through the Llano River (from which the county gets its name), which runs from west to east through the center of the county, or through Sandy Creek, which flows across the southern part of the county. Ashe juniper trees grow on the hills, and mesquites, live oaks, post oaks, pecans, and elms grow in most of the county. The soil is sandy to sandy loam, although there are granite outcroppings throughout much of the county, in-cluding Enchanted Rock. Granite quarries and finishing sheds operate in the county, and talc, vermicu-lite, and feldspar have also been produced. Temperatures range from an average high of 98° F in July to an average low of 34° in January, rainfall averages 26.20 inches a year, and the growing season lasts 229 days.

Tonkawa Indians occupied Central Texas at the time the future Llano County was first explored, but it is uncertain how long they had lived there. The Tonkawas hunted and gathered along streams and did not farm. They were not warlike, however, and they apparently invited the Spaniards to establish missions that would help them against the fierce Comanches. The Comanches came into the Tonkawa area in the eighteenth century and eventually claimed territory as far southeast as San Antonio and Austin. During the Republic of Texas era, conflict between whites and Comanches in the region was marked by such bat-tles as a fight at Enchanted Rock in 1841.

The first permanent settlers of European origin in the area were brought in by the Adelsverein. German settlers established the town of New Braunfels (now in Comal County) in 1845, and Fredericksburg (now in Gillespie County) in 1846. In 1847 John O. Meusebach, the leader of the German settlers, negotiated a treaty with the Comanches to permit Germans to live in the area of the Fisher-Miller Land Grant, which included what is now Llano County. After Meusebach's treaty, five settlements were established on or near the Llano River in what later became the western part of the county, but the town of Castell was the only one of these to survive. The settlement farthest downstream was Bettinaqv, a communal colony estab-

lished by the "Society of Forty," a group of young men from German universities. Settlers began to move into the

eastern part of the county shortly thereafter, the first ones settling at Tow Valley and Bluffton on the Colorado

River in 1852. A saltworks between the two places operated until after the Civil War, and there was also a saw-mill in the area. Small farms were established, and by 1853 settlement had begun in the northwestern part of the county. Soon two settlements, Whistleville and Bugscuffle, combined to form Valley Spring. A German Methodist church was established in Castell in 1856 by Dietrich J. G. Rodeqv; during weekdays the

building served as a school.

Llano County was organized in 1856 after the Texas legislature formed the county from the Bexar Dis-trict and Gillespie County. Donations of 250 acres were made for a site for the county seat. By 1858 the population exceeded 1,000, and cattle, hides, and pecans were being exported. Farming was the chief occupation in the north and ranching in the south. Germans predominated in the western parts and An-glo-Americans in the other areas. By 1860 the county had eighty-nine farms, encompassing 59,744 acres. The agricultural census that year reported 21,344 cattle and 1,492 sheep in Llano County, and the corn harvest exceeded 23,500 bushels. The United States census found 1,101 people living in the county that

year; of these, 21 were slaveholders and 54 were slaves.When the Civil War came, several companies were organized in the area, known as the Third Frontier District. A company of 100 Llano County volun-teers went to Camp Terry in February 1862 and later joined Walker's Texas Division on the Red River; they were part of the forces at Fort DeRussy when it fell. During and after the war, farmers in the county were harassed by Indians, who frequently raided for horses. In 1867 five members of the Friend family were killed, as were five members of the Whitlock family in 1870. The raids came to a stop after August 4, 1874, when a group of eight men led by Capt. James R. Moss trailed some Comanches who had been stealing horses, surprised them on Packsaddle Mountainqv, and defeated them.

Partly because of the dislocations that accompanied the Civil War, the county grew slowly during the 1860s. Though the number of farms and ranches had increased to ninety-five by 1870, the number of "improved" acres in the county had actually declined to 1,624. The number of cattle had declined to 18,127. Wheat was planted on about 7,700 acres that year and cotton on about 1,150. The county's devel-opment accelerated during the 1870s and 1880s, after the danger from Indian attacks had been elimi-nated. By 1880, 619 farms and ranches had been established in Llano County, and improved acres to-taled almost 34,000. Ranching dominated the economy; 31,760 cattle and almost 14,000 sheep were counted that year. Corn culture occupied about 7,700 acres, and cotton was planted on almost 2,250. By 1890 the farms and ranches numbered 858, totaling about 342,000 acres. Almost 52,700 cattle and about 24,000 sheep were counted in Llano County that year, while about 13,000 acres was devoted to corn and almost 7,800 to cotton.

The county boomed briefly near the end of the nineteenth century, particularly after 1892, when Llano became a railhead and attempts were made to mine iron deposits in the area. In 1900 Frank Teich estab-lished the Teich Monument Works, and production of granite became a factor in the economy. Teich was a sculptor whose work may be seen in Confederate monuments in several Texas cities. Two other granite sheds were put into operation at about the same time. Sheep ranching declined during the 1890s; by 1900 there were only about 5,000 sheep in the county. Other parts of the economy continued to expand, however. By 1900 farms and ranches in Llano County numbered 858; about 17,000 acres was planted in corn, and almost 9,800 in cotton. The population had increased to 7,301 by that year.

Although the railroad had helped to stimulate the economy, the iron mining proved unprofitable, and the boom soon faded away. Llano did attract some growth as a health resort early in the twentieth cen-tury, but the county's economy declined between 1900 and 1920. The number of farms dropped to 795 by 1910 and 686 by 1920; the population also shrank during this period, to 5,360 by 1920. The decline in cotton production was part of the reason. County farmers produced 4,944 bales of cotton in 1906, for example, but only 1,918 bales in 1916. As cotton recovered somewhat during the 1920s (about 3,000 bales were produced in 1926), the county's population also increased, to reach 5,360 by 1930.

Like the rest of the Southwest, Llano County was hit hard by depression and drought during the 1930s. The agricultural economy suffered most. Cotton production almost ceased in the county during the 1930s; in 1936 county farmers ginned only 414 bales, and in 1941 they ginned none. Overall, cropland harvested in Llano County declined more than 20 percent between 1930 and 1940, when only 666 farms and ranches remained in the area. Most cattle ranchers suffered but survived. Even in 1935, after several dry years and government buying of cattle, there were 36,500 cattle in the county. Cattle were not origi-nally included in the Agricultural Adjustment Act, and when prices fell to less than four dollars a hun-dredweight, cattlemen sought relief from the government. At first cattle were bought by the Federal Sur-plus Relief Corporation; in 1934 cattle were placed within the authority of the Agricultural Adjustment Administration. Government buying of cattle prevented total disaster, although as soon as they could, cattlemen got out of government programs.

The building of dams on the Colorado River also offered some relief during the depression, and the dams brought greater benefits for the area than the temporary jobs the construction provided. Samuel Insull's Middle West Utilities Company had been searching for sites for hydroelectric dams since as early as 1926, and in April 1931, after negotiations with local power companies, Middle West began construction on what was then called Hamilton Dam on the Colorado River. Work stopped, however, in the summer

of 1932 as a result of the depression and the collapse of the Insull enterprises. After various efforts to obtain public money, $4.5 million was allotted in 1934 for completion of the dam, largely through the efforts of Congressman James Paul Buchanan. Later that year the Lower Colorado River Authority was established, and it received $20 million to build other dams downstream, largely because the water that caused a destructive flood in 1935 came from the Llano River, which joins the Colorado below Buchanan Dam. Buchanan and Inks dams were completed by 1938. (In 1952 another impoundment project, Gran-ite Shoals Dam, was completed, impounding a body of water later named Lake Lyndon B. Johnson.) Government aid and construction projects helped the county to get through the depression in spite of the general decline in agriculture. The population of the county actually grew during the 1930s, to reach 5,990 by 1940. It subsequently declined during the 1940s and 1950s, but began to grow again during the 1960s, as more people were attracted to lakeside properties in the area. The census counted 5,377 resi-dents in Llano County in 1950, 5,240 in 1960, and 6,979 in 1970. The population was 10,144 in 1980 and 11,631 by 1990.

Though cattle ranching remains the single most important element of Llano County's agricultural econ-omy, the county is also one of the ten leading producers of hogs in Texas. Angora goats, although declin-ing in importance, also played a significant role in the area's post-World War II economy. In the 1940s there were as many as 40,000 Angoras in Llano County, but by 1983 there were only about 5,000. Tur-key production was a significant part of the economy in the 1970s, when more than 50,000 were pro-duced each year, but by 1982 no turkey production was listed for Llano County by the Texas Department of Agriculture.

In national elections, the voters of Llano County supported Democratic presidential candidates in every election until 1972. Even in the 1928 election, the first contest after Reconstruction in which Democratic supremacy in the "Solid South" was challenged, Llano County voted Democratic by more than three to one, even though Al Smith, the Democratic candidate, was Catholic and "wet." (Republican Herbert Hoover carried Texas in that election). The county supported Franklin D. Roosevelt enthusiastically, and voted for him by margins of six to one against both Wendell L. Willkie and Thomas E. Dewey. In 1972 a majority of local voters supported Republican Richard Nixon over George McGovern, the Democratic candidate. After supporting Democrat Jimmy Carter in 1976, a majority of the county's voters supported Republican candidates in the three presidential elections between 1980 and 1988. In 1992 a plurality of Llano County voters supported Republican George H. W. Bush over Democrat William J. Clinton and the independent candidate, Ross Perot.

Communities in the county include Llano, the county seat (1990 population, 2,962), Kingsland (2,725), Horseshoe Bay (1,222 in Llano County, partly in Burnet County), and Sunrise Beach (497). The three dams provide more than fifty-five miles of lakes on Llano County's eastern border. These provide recrea-tion and popular spots for retirement. Llano County has for years been a major hunting area, the "Deer Capital of Texas." It leads the state in the number of white-tail deer harvested annually, with more than 12,000 killed each year. Wild turkeys are also hunted in the county. Other tourist attractions include the Bluebonnet Trail and Enchanted Rock State Natural Area. The Highland Lakes Bluebonnet Trail, an April event, is sponsored by towns in the area and includes chili cookoffs, festivals, and art shows, many in Llano County.

BIBLIOGRAPHY: Tillie Badu Moss Fry, A History of Llano County (M.A. thesis, University of Texas, 1943). Martha Gilliland Long, ed., Llano County Family Album: A History (1989). Wilburn Oatman, Llano,

Gem of the Hill Country: A History of Llano County (Hereford, Texas: Pioneer, 1970).

500 ACRES IN LLANO COUNTY

RILEY MOUNTAIN RANCH

Click photos to visit websites

Days Inn & Suites Llano's newest is within walking distance to downtown. Free delux continental breakfast, hot tub, microwaves, refrigerator, coffee maker, hair dryer, and iron. High speed internet & business center. Free cable with HBO.

Rough it in Style with lovely B&B/Guest Lodging on 2 scenic Texas Century Ranches. Enjoy fishing, hiking, birding or ride your bike or horse. 2 lodges for groups intimate cottage just for 2.

The Llano Motel is your home away from home. Rent by the day, the week, or the month. Rooms have kitchenettes and are nice and clean. Nice folks help make your stay a pleasant one. 247 - 5786

Relax and stay awhile! Swim in our pool, eat a great meal next door, and take advantages of all of our amenities The Lone Star Inn is the official motel for the Texas Proud Festival held each May.

Llano's newest lodging superstar "Walden Plantation"is NOW OPEN!! Book your stay quickly as

accommodations are filling fast!

The Dabbs Railroad Hotel opened in 1907 and is one of the last of the old railroad hotels still in operation. A stay at the Dabbs is like a step back to a simpler and slower time. Click banner to visit our site

Llano Days Inn Wins Chairman's Award

Vipel Patel (Manager/Owner) of Llano's Days Inn was awarded Days Inn's Chairman's Award for Quality in recognition of outstanding commitment to quality by the ownership, management, and staff. The award was bestowed based on a National survey of guests staying at Days Inns

k d i h

Page 1 of 2Lodging

4/12/2010http://llanochamber.org/lodging.html

Bed and Breakfast

Cabin at Phoenix (325) 247 - 4985 Castell Cottage on the Llano River (325) 248 - 4270 Cherokee Bunk House (325) 622 - 4466 The Creek Cottage (325) 628 - 3280 First Class B&B Reservation Service (830) 997 - 0443 Llano Guest House (888) 991 - 6749 Llano River Fly-Fishing Guest House (325) 247 - 3453 M&M's Bed & Breakfast (325) 247 - 3422 Phoenix Nest Sunday House (325) 247 - 5664 Springs of Cold Creek (325) 251 - 6611 Trois Estates@Enchanted Rock (325) 685 - 3415 Walden Plantation (325) 247 - 2046

Hotels/Motels

Antlers Hotel (325) 388 - 4411 Best Western (325) 247 - 4101 Canyon of the Eagles (512) 756 - 8787 Dabbs Railroad Hotel (325) 247 - 2200 Days Inn & Suites (325) 247 - 1141 Llano Motel (325) 247 - 5786 Lone Star Inn (325) 247 - 4111 Walden Plantation (325) 247 - 2046

LODGING

Casa de Castell (325) 248 - 3805 Deer Blind Cabin (325) 247 - 2255 Edwards Ranch Lakefront Home (800) 658 - 2027 Granite Springs Ranch (325) 247 - 3279 Royal Oaks Inn (325) 388 - 6003

RV Campsites

Badu Park (325) 247 - 4158 Banta Circle RV Park (512) 793 - 6148 Community Center RV (325) 247 - 5354 Llano River Golf Course RV Resort (325) 247 - 4158 Oxford Ranch Campground (325) 247 - 1639

Llano Statistics | Shopping | member directory | Home | Parks Sites | Events Calendar | Board of Directors | Lodging | Restaurants | Real Estate | Links | Hunting Directory | Professional Services

For a weekend get-a-way or a summer vacation, the Castell Cottage offers country serenity with urban

comforts. Sleeps up to eight guests.

Page 2 of 2Lodging

4/12/2010http://llanochamber.org/lodging.html

Approved by the Texas Real Estate Commission for Voluntary Use

Texas law requires all real estate licensees to give the following informationabout brokerage services to prospective buyers, tenants, sellers and landlords.

Information About Brokerage Services

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question

or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.

Buyer, Seller, Landlord or Tenant Date

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee's records.

B

IF THE BROKER REPRESENTS THE OWNER:

efore working with a real estate broker, you shouldknow that the duties of a broker depend on whom

(TAR-2501) 1/1/96TREC No. OP-K

the broker represents. If you are a prospectiveseller or landlord (owner) or a prospective buyer or

tenant (buyer), you should know that the broker who liststhe property for sale or lease is the owner's agent. Abroker who acts as a subagent represents the owner incooperation with the listing broker. A broker who acts asa buyer's agent represents the buyer. A broker may act asan intermediary between the parties if the partiesconsent in writing. A broker can assist you in locating aproperty, preparing a contract or lease, or obtainingfinancing without representing you. A broker is obligatedby law to treat you honestly.

The broker becomes the owner's agent by entering into anagreement with the owner, usually through a written -listing agreement, or by agreeing to act as a subagent byaccepting an offer of subagency from the listing broker. Asubagent may work in a different real estate office. Alisting broker or subagent can assist the buyer but doesnot represent the buyer and must place the interests ofthe owner first. The buyer should not tell the owner'sagent anything the buyer would not want the owner toknow because an owner's agent must disclose to theowner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer's agent by entering into anagreement to represent the buyer, usually through awritten buyer representation agreement. A buyer's agentcan assist the owner but does not represent the ownerand must place the interests of the buyer first. The ownershould not tell a buyer's agent anything the owner wouldnot want the buyer to know because a buyer's agent mustdisclose to the buyer any material information known to theagent.

IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the partiesif the broker complies with The Texas Real Estate License

Act. The broker must obtain the written consent of eachparty to the transaction to act as an intermediary. Thewritten consent must state who will pay the broker and, inconspicuous bold or underlined print, set forth the broker'sobligations as an intermediary. The broker is required totreat each party honestly and fairly and to comply withThe Texas Real Estate License Act. A broker who actsas an intermediary in a transaction:

(1) shall treat all parties honestly;(2) may not disclose that the owner will accept aprice less than the asking price unless authorized inwriting to do so by the owner;(3) may not disclose that the buyer will pay a pricegreater than the price submitted in a written offerunless authorized in writing to do so by the buyer; and(4) may not disclose any confidential information orany information that a party specifically instructs thebroker in writing not to disclose unless authorized inwriting to disclose the information or required to do soby The Texas Real Estate License Act or a courtorder or if the information materially relates to thecondition of the property.

With the parties' consent, a broker acting as anintermediary between the parties may appoint a person whois licensed under The Texas Real Estate License Actand associated with the broker to communicate with andcarry out instructions of one party and another person whois licensed under that Act and associated with the brokerto communicate with and carry out instructions of theother party.

If you choose to have a broker represent you,you should enter into a written agreement with the brokerthat clearly establishes the broker's obligations and yourobligations. The agreement should state how and bywhom the broker will be paid. You have the right tochoose the type of representation, if any, you wish toreceive. Your payment of a fee to a broker does notnecessarily establish that the broker represents you. If youhave any questions regarding the duties andresponsibilities of the broker, you should resolve thosequestions before proceeding.

01APage 1 of 1

Phone: Fax:

Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com

Ashford Square Realty, LLC 2801 Earl Rudder Freeway S College Station, TX 77845(979) 574-7452 (979) 695-5712 Chris Schmidt IABS