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O('~IsR TO PURCHAS(: AND CONTRACT 2 a
<br />Orange County, North Carolina ,asBuycr.
<br />hereby offers to purchase and - E.H. Keene y an wi e, Eva F. Keene y , as Seller,
<br />upon acceptance of said offer, agrees to sell and convey, all of that plot, piece or parcel of land described below, together with all improvements located
<br />thereon and such fixtures and personal property as are listed below (collectively referred to as "the Property"), upon the following terms and
<br />conditions: Township
<br />I. REAL PROPERTY: Located in the LN`~ of Cedar GTOVe ,County of
<br />Orange , Srue of North Carolina, being known as and more particularly described as:
<br />Street Address Zip
<br />Legal Description: see i i a ac e ereto
<br />(^ All ^ A ponion of the property in Deed Reference: Book ,Page No. County.)
<br />NOTE: Prior to signing the Offer to Purchase and Contract, Buyer is advised to review Restrictive Covenants, if any, which may limit the use of the
<br />Property, anti to read the Declaration of Restrictive Covenants, By-Laws, Articles of Incorporation, Rules and Regulations, and other governing
<br />documents of the owners' association and/or the subdivision, if applicable. '
<br />2. FIXTURES: The following items, if any, are inclutletl in the purchase price free of liens: any built-in appliances, light fixtures, ceiling fans,
<br />anached Floor coverings, blinds and shades including window hardware, window anti door screens, storm windows, combination doors, awnings,
<br />antennas, satellite dishes and receivers, burglar/fire/smoke alarms, pool and spa equipment, solarenergy systems, attached fireplace screens, gas logs,
<br />fireplace inserts, electric garage door openers with controls, outdoor plants and trees (other than in movable containers), basketball goals, storage
<br />sheds, mailboxes, wall and/or door mirrors, and any items attached or affixed to the Property, EXCEPT the following items:
<br />3. PERSONAL PROPERTY: The following personal property is inclutletl in the purchase price:
<br />4. PURCHASE PRICE: The purchase price is $ t 0 • ~ and shall be paid as follows:
<br />(a) $ ,EARNEST MONEY DEPOSIT by D cash ^ personal check ^ bank check ^ certified check ^ other
<br />to be deposited and held in escrow by as
<br />escrow agent, until the sale is closed, at which time it wi II he credited to Buyer, or until this contract is otherwise terminated. In the event. (I) this offer
<br />is not accepted; or (2) any of the conditions hereto are not satisfied, then all earnest monies shall he returned to Buyer In the event of breach of this
<br />contract by Seller, upon Buyer's request, all earnest monies shall be returned to Buyer, but such return shall not affect any other remedies available
<br />to Btryer for such breach. In the event this offer is accepted and Buyer breaches this contract, then all earnest monies shall be forfeited upon Seller's
<br />request, but receipt of such forfeited earnest monies shall not affect any other remedies available to Seller for such breach.
<br />NOTE: In the event of a dispute between Seller and Buyer over the return or forfeiture of earnest money held in escrow by a broker, the broker is
<br />required by state law to retain said earnest money in the broker's trust or escrow account until a written release from the parties consenting to ifs
<br />disposition has been obtained or until disbursement is ordered by a court of competent jurisdiction. -
<br />(b) $ ,ADDITIONAL EARNEST MONEY DEPOSIT to be paid to escrow agent no later than
<br />(c) $ , BY ASSUMP"I'ION of the unpaid principal balance and all obligations of Seller nn the existing loan (s)
<br />secured by a deed of trust on the Property in accordance with the attached Loan Assumption Addendum.
<br />(d) $ , BY SELLER FINANCING in accordance with the attached Seller Financing Addendum.
<br />(e) $ 110, 000.00 ,BALANCE of the purchase price in cash at closing.
<br />5. CONDITIONS: (State N/A in each blank that is not a condition to this contract.)
<br />(a) The Buyer must be able to obtain •u loan commihnent on or before ,effective through the date oFclasing, for a
<br />^ PFIA ^ VA (attach FFIANA Financing Addendum) ^ Conventional ^ Other loan at a
<br />^ Fixed Rme ^ Adjustable Rate ^ Other: in the principal amount of
<br />for a term of year(s), at an interest rate not to exceed % per annum, with
<br />mortgage loan discount points not to exceed % of the loan amount. Buyer agrees to use his best efforts to secure such commitment. Buyer
<br />shall be responsible for all costs with respect to any loan obtained by Buyer, except if Seller is to pay any of the Buyer's loan closing costs including
<br />discount points, those costs are as follows:
<br />In the event Buyer fails to pmvitle Seller with written evidence of the loan commitment within five days after receipt of a written request from Seller
<br />(but such request may not be made before the loan commitmem date listed above), then Seller may terminate this contract unless Buyer waives the
<br />loan commitment condition.
<br />Ih) There must he no restriction, easement, zoning ur other governmental regulation that world prevent the reasonable use of the real property for
<br />purposes.
<br />(c) The Property must be in substantially the same or better condition at closing as on the date of this offer, reasonable wear and tear excepted.
<br />(tq All deeds of tnrst, liens and other charges against the Property, not assumed by Buyer, must be paid and satisfied by Seller prior to or at closing
<br />such that cancellution may be promptly obtained following closing. Seller shall remain obligated to obtain •any such cancellations following closing.
<br />(e) Title must he delivered at closing by GENERAL WARRANTY DEED unless otherwise slated herein, and must be fee simple marketable title, free
<br />of all encumbrances except. ad valorem taxes for the current year (prorated through the date of closing); utility easements antl unviolated restrictive
<br />rnvenants that do not materially affect the value of the Property; and such other encumbrances as may be assumed or specifically approved by Buyer.
<br />The Property must have legal access to a public right of way.
<br />6. SPECIAL ASSESSMENTS: Seller warrants that there are no governmental special assessments, either pending or confirmed, for sidewalk,
<br />paving, water, sewer, or other improvements on or adjoining the Property, and no owners' association special assessments, except as follows:
<br />(Insert "None" or the identification of such assessments, if any.) Seller shall pay all confirmed owners' asstx:iation assessments :rod all confirmed
<br />governmental assessments, if any, and Buyer shall take title subject to all pending assessments, if any, unless otherwise agreed as folhrvs:
<br />7. PROBATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated and eitheradjusted between the parties
<br />or paid at closing: (a) Ad valorem taxes on real property shall be prorated on a calendar year basis through the date of closing; (b) Ad valorem taxes
<br />on personal propeny 1'or the entire year shall he paid by the Seller unless the personal property is conveyed to the Btryer, in which case, the personal
<br />property taxes shall be prorated nn a calendar year basis through the date of closing. (c) All late listing penalties, if any, shall be paid by' Seller. (d)
<br />Rents, if any, for the Property shall be prorated through the [late of closing. (e) Owners' association dues, and other like charges shall be prorated
<br />through the d:ue of closing. Seller represents that the regular owners' assoxiation clues, if any, ere $ per
<br />K. (;LOSING h:XI'ISNSI?S: Seller shall pay lilt preparation ul' a decd and all other docuntems necessary to perfunn Srllcr's ohligaliuns under Ibis
<br />agreement, and for excise tax (revenue stamps) required by law. Buyer shall pay For recording the deed and for preparation and recording of all
<br />instruments required kt secure the balance of the purchase price unpaid at closing.
<br />9. FUEL: Buyer agrees m purchase from Seller the fuel, if any, situated in any tank on the Property at the prevailing rate with the cost of measurement
<br />thereof, if any, being paid by Seller.
<br />111. F:V IDENCE OF TITLE: Seller agrees to use his best efforts to deliver to Buyer as soon as reasonably possible after the acceptance of this offer,
<br />copies of all title information in possession of or available to Seller, including but not limited to: title insurance policies, attorney's opinions on title,
<br />surveys, covenants, deeds, notes and deeds of trust and easements relating to the Property.
<br />I I. LAI[OR AND MATERIAL: Seller shall furnish at closing an affidavit and indemnification agreement in form satisfactory to Buyer showing
<br />that all labor and materials, if any, furnished to the Property within 12(1 days prior to the date of closing have been paid for and agreeing to indemnify
<br />Buyer against all loss from any cause or claim arising therefrom.
<br />NC Bar Association Form No. 2, ©~ 996. This Standard Form has been approved jointly by the:
<br />PrinteA by Agreement with the NC Bar Association-1981 NORTH CAROLINA BAR ASSOCIATION-NC Bar Form No. 2
<br />•^, ~,, -... •. ~.. i,.~ n,,, t~-r . ynrlkinv llr Nr' ~7n5F NORTH CAROLINA ASSOCIATION OF REALTORS', INC. -StanAarA Form No 2
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