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<br />7 <br />Orange County will act on that Land Use Element application until <br />some reasonable time after it receives the results of the Upper <br />Eno Watershed study referred to in paragraph 2 of this agreement. <br />This option agreement is not a withdrawal by Duke University of <br />its application for a change in the Land Use Element and the <br />parties acknowledge that Duke University may continue to pursue <br />its request for a change in the Land Use Element. <br />5. During the term of this option agreement and any <br />extensions to it Duke University may continue to receive and <br />accept back-up offers to purchase the Property. Duke University <br />represents that it has received an offer to purchase the Property <br />which is contingent on a change in the Orange County Land Use <br />Element and a change in the zoning of the Property which would <br />permit the use of the Property for one or more single-family <br />residences. The parties agree that that offer, a copy of which <br />has been provided to Orange County, is such a back-up offer. <br />6. Duke University agrees that Orange County, its agents <br />or employees, may go upon the Property for the purpose of <br />inspecting, testing and analyzing the Property at any time prior <br />to the closing of the purchase of the Property, provided that <br />this option has not expired. <br />7. Duke University warrants that since it has owned the <br />property it has not encumbered the property and that it has <br />received neither notice of nor knows of any encumbrances or <br />special assessments either pending or confirmed for sidewalk <br />paving, road paving, water, sewer or other improvements on or <br />adjoining the Property. Duke University and Orange County agree <br />4 <br />9 <br />