2012-076 DEAPR - Ferrell Firm for Title Work $3.250

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Please also be aware that matters of zoning and environmental hazards are not included in a standard title search; hence, if you require additional information from me concerning these issues, please so advise immediately. Zoning laws affect setback and use requirements to name a few. Environmental hazards include, but are not limited to, the existence of radon gas, lead-based paint, underground storage tanks and asbestos. Closin I will prepare an Exhibit of Permitted Exceptions for insertion as "Exhibit B" to the Easement Deed. I will also prepare a Subordination Agreement to subordinate the existing Carolina Farm Credit deed of trust to the Easement. The Easement Deed was drafted and negotiated prior to my involvement in this matter. Therefore, I will not have any responsibility for preparation of the Easement Deed except for the preparation of Exhibit B. I will prepare a closing statement to be executed by the parties at the closing which will be held at the Brooks' attorney's office in Hillsborough. The parties agree to wire all closing funds and attorney's fees into my trust account prior to the closing. I will make every effort to provide the parties with a draft of the closing statement no less than 24 hours prior to the closing date. Following the closing, I will update title and record the deed of easement at the office of the Register of Deeds and prepare a final title opinion. Ferrell Firm, P.C.'s flat fee is $3,250.00 for the work summarized above. The County understands and specifically agrees that: l. the flat fee is thc~ entire payment for the specified legal ~~ork to be performed by the firrrr regardless of the amount of time that it takes the firm to perform the legal work; 2. the flat fee will be earned by the firm immediately upon payment and will be deposited in the frrm's business account rather than a trust account; and 3. when our representation ends, the Counry will not be entitled to a refund of any portion of the flal fee unless: (a) the legal work is not completed, in which event a proportionate refund may be owed, or (b) it can be demonstrated that the flat fee is clearly excessive under the circumstances. Please note that costs of the survey, environmental reports, insurance premiums, tax stamps, recording fees, etc., are NOT included in the legal fee quoted above. In the event the County requires representation prior to closing or additional legal work not referenced in this letter becomes necessary (such as work associated with clearing any title defects), then I will perform such work at your request at my normal hourly rate of $200 per hour. Please understand that I must charge for all work performed even if this transaction fails for any reason. 2