Orange County NC Website
Browse       Search
r <br /> insurance company to remove the standard title policy exceptions, and any other <br /> documents necessary to close in accordance with the terms of this Option. These <br /> documents will be prepared at the expense of the State. <br /> 6. MISCELLANEOUS CLOSING EXPENSES. The State will pay charges due <br /> upon execution of conservation easement to the State. The State will pay recording <br /> fees. <br /> 7. CONDITION OF PROPERTY/ RISK OF LOSS. The Grantor shall not transfer <br /> or encumber any interests in the Property prior to closing. The Grantor shall remove <br /> all rubbish or trash including any hazardous or harmful chemical substances, from the <br /> conservation easement area prior to closing but shall otherwise keep the Property in <br /> its current condition until closing and shall prevent and refrain from any use of the <br /> Property, for any purpose or in any manner, that would diminish its value or <br /> adversely affect the State's intended use of the Property. <br /> In the event of any adverse change in the condition of the Property, whether said <br /> change is caused by Grantor or by forces beyond Grantor's control, the State may <br /> elect to a)refuse to accept the property; b) accept the Property, or a portion thereof, in <br /> which case there may be an equitable adjustment of the purchase price based on a <br /> change in circumstances; or c) in the case of a change caused by Grantor, require <br /> restoration of the Property to its condition at the time this Option was granted. <br /> 8. RIGHT OF ENTRY AND INSPECTION. The State and its agents shall have the <br /> right to enter upon the Property at reasonable times for surveying, conducting <br /> environmental inspections and assessments to detect hazardous or toxic substances, <br /> and other reasonable purposes related to this transaction. Based upon the results of <br /> the environmental inspections and assessments, or upon other conditions revealed to <br /> be unsuitable to the State, the State may elect to refuse to accept the Property. <br /> 9. REMEDIES. In addition to any other remedy specifically set forth in this Option, <br /> the State has the right to enforce the provisions of this Option through an action for <br /> specific performance, injunctive relief, damages, contribution or any other available <br /> proceedings in law or equity. The election of any one remedy available under this <br /> Option shall not constitute a waiver of any other available remedies. <br /> 10. BINDING EFFECT. This Option becomes effective when signed by the Grantor <br /> and shall then apply to and bind the Grantor and Grantor's heirs, executors, <br /> administrators, successors, and assigns. <br /> 11. COMPLETE AGREEMENT. This Option constitutes the sole and complete <br /> agreement between the parties and cannot be changed except by written agreement. <br /> No representation or promise not included in this Option shall be binding upon the <br /> parties. <br /> 12. NO WAIVER. No provision of the Option shall be deemed amended or waived <br /> unless such amendment or waiver is set forth in a writing signed by the State. No act <br /> or failure to act by the State shall be deemed a waiver of its rights hereunder, and no <br />