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Attachment 3 - 1 7
<br />Offer to Purchase and Contract
<br />OFFER TO PURCHASE AND CONTRACT -VACANT LOT/LAND
<br />[Consult "Guidelines" (form 12G) for guidance in completing this form]
<br />NOTE: This contract is intended for unimproved real property that Buyer will purchase only for personal use and does not have
<br />immediate plans to subdivide. It should not be used to sell property that is being subdivided unless the property has been platted,
<br />properly approved and recorded with the register of deeds as of the date of the contract. If Seller is Buyer's builder and the sale
<br />involves the construction of a new single family dwelling prior to closing, use the standard Offer to Purchase and Contract (Form 2-T)
<br />with the New Construction Addendum (Form 2A3-T).
<br />ORANGE COUNTY, NORTH , as Buyer,
<br />hereby offers to purchase and JOSEPH T. FORREST as Seller,
<br />upon acceptance of said offer, agrees to sell and convey, all of that plot, piece or pazcel of land described below (hereafter referred to
<br />as the "Property"), upon the terms and conditions set forth herein. This offer shall become a binding contract on the date that: (i) the
<br />last one of the Buyer and Seller has signed or initialed this offer or the fmal counteroffer, if any, and (ii) such signing or initialing is
<br />communicated to the party making the offer or counteroffer, as the case may be. Such date shall be referred to herein as the "Effective
<br />Date."
<br />1. REAL PROPERTY: Located in EFLAND, ORANGE County, State of North Carolina,
<br />being known as and more particularly described as:
<br />Address: Street
<br />City: Zip
<br />NOTE: Governmental authority over taxes, zoning, school districts, utilities and mail delivery may differ from address shown.
<br />Legal Description: 1 .369 acre parcel shown as Lot 1 and 0.121 acre sanitary sewer easement
<br />Subdivision Name: shown as Lot 2 Sanitary Sewer Easement Area on attached Exhibit
<br />Plat Reference: Lot ,Block or Section as shown on
<br />Plat Book or Slide at Page(s) (Property acquired by Seller in Deed Book at Page ).
<br />NOTE: Prior to signing this Offer to Purchase and Contract -Vacant Lot/Land, Buyer is advised to review Restrictive Covenants, if
<br />any, which may limit the use of the Property, and to read the Declaration of Restrictive Covenants, By-Laws, Articles of
<br />Incorporation, Rules and Regulations, and other governing documents of the owners' association and/or the subdivision, if applicable.
<br />If the Property is subject to regulation by an owners' association, it is recommended that Buyer obtain a copy of a completed Owners'
<br />Association Disclosure And Addendum (standard form 2A12-T) prior to signing this Offer to Purchase and Contract, and include it as
<br />an addendum hereto.
<br />2. PURCHASE PRICE: The purchase price is $ 2 5 , 0 0 0 and shall be paid in U.S.
<br />Dollars. Should any check or other funds paid by Buyer be dishonored, for any reason, by the institution upon which the payment is
<br />drawn, Buyer shall have one (1) banking day after written notice to deliver good funds to the payee. In the event Buyer does not
<br />timely deliver good funds, the Seller shall have the right to terminate this contract upon written notice to the Buyer. The purchase
<br />price shall be paid as follows:
<br />(a) $ N/A EARNEST MONEY DEPOSIT with this offer by ^ cash ^-personal check
<br />^ bank check ^ certified check ^ other: to be deposited and
<br />held in escrow by ("Escrow Agent") until the sale is closed,
<br />at which time it will be credited to Buyer, or until this contract is otherwise terminated. In the event: (1) this offer is not accepted; or
<br />(2) any of the conditions hereto are not satisfied, then all earnest monies shall be refunded to Buyer. In the event of breach of this
<br />contract by Seller, all earnest monies shall be refunded to Buyer upon Buyer's request, but such return shall not affect any other
<br />remedies available to Buyer for such breach. In the event of breach of this contract by Buyer, then all earnest monies shall-be forfeited
<br />to Seller upon Seller's request, but such forfeiture 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, a licensed
<br />real estate broker ("Broker") is required by state law (and Escrow Agent, if not a Broker, hereby agrees) to retain said earnest money
<br />in the Escrow Agent's trust or escrow account until Escrow Agent has obtained a written release from the parties consenting to its
<br />disposition or until disbursement is ordered by a court of competent jurisdiction. Alternatively, if a Broker is holding the Earnest
<br />Money, the Broker may deposit the disputed monies with the appropriate clerk of court in accordance with the provisions of N.C.G.S.
<br />§93A-12.
<br />Buyer initials Seller initials
<br />Page 1 of 7
<br />NC BAR ASSOCIATION -Form No. 12 ~ 2007, 7/2008 This standard form has been approved joinfly by:
<br />North Carolina Bar Association - NC Baz Form No. 12
<br />North Cazolina Association of Realtors®, Inc. - Standazd Form 12T
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