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~ ~ ~ <br />q d <br />Prepared by: <br />Return to: Geoffrey E. Gledhill, P.O. Drawer 1529, Hillsborough, NC 27278 <br />MEMORANDUM OF AGREEMENT FOR PURCHASE AND SALE <br />STATE OF NORTH CAROLINA <br />COUNTY OF ORANGE <br />This Memorandum of Contract for Purchase and Sale (the "Memorandum") is made and <br />entered into as of the _ day of , 2005, by and between RT HOLDINGS, <br />LLC, a North Carolina limited liability company ("Seller"), and ORANGE COUNTY, NORTH <br />CAROLINA, a North Carolina body politic and corporate entity ("Buyer"). <br />WITNESSETH: <br />WHEREAS, Buyer and Seller have entered into that certain Agreement for Purchase and <br />Sale ("Contract") dated as of July 14, 2005, in which Buyer agreed to purchase and Seller agreed <br />to sell all of that certain property located in Orange County, North Carolina, and more <br />particularly described on Ezbibit A attached hereto and incorporated herein by reference (the <br />"Real Property"). <br />WHEREAS, Seller and Buyer desire to record this Memorandum to furnish notice of <br />the Contract. <br />NOW THEREFORE, for and in consideration of good and valuable c onsideration, the <br />receipt and sufficiency of which is hereby acknowledged, Seller and Buyer hereby agree as <br />follows: <br />1. Incorporation of Recitals. The foregoing recitals are incorporated herein to the <br />extent as if hereinafter fully set forth. <br />RALEIGH1458774_ 1 <br />