2000 S ERCD - Little River Regional Park and Natural Area Exercise of Option to Purchase

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thereof requiring any action or compliance by Seller, except as have been, or will by the Closing Date be fully complied with. (e) No Misrepresentation. Seller shall not knowingly make any misrepresentations to Buyer in connection with the condition of the Property nor shall Seller conceal any material fact relevant to the condition of the Property. (f) True as of Closing Date. The representations and warranties contained in subparagraphs(a)through(e)above shall be true and correct as of the Closing Date. 7. SETTLEMENT CHARGES: Seller shall pay for the preparation of a deed and for the revenue stamps required by law. Buyer shall pay for recording the deed and for preparation and recording of all instruments required to secure the balance of the purchase price. Buyer and Seller shall each pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby. 8. NOTICES: Any notice required or permitted to be given under this Agreement shall be in writing and shall be effective i)as of the date personally delivered, ii) one business day after the date delivered to a nationally recognized overnight courier service, delivery prepaid, or iii)at the time of being sent by facsimile if delivery thereof is confirmed by sender's receipt of a transmission report,generated by sender's facsimile machine,which confirms that the facsimile was successfully transmitted in its entirety and provided the facsimile was forwarded prior to 5:00 p.m. Eastern Standard Time, and to the following addresses or facsimile numbers: (a) If to Seller: Mr. Fred Stang Triangle Community Foundation 100 Park Offices, Suite 209 P. O. Box 12834 Research Triangle Park, NC 27709 Fax: 919/990-9066 With a copy to: Lisa Holland Powell, Esq. King, Walker, Lambe & Powell, P.L.L.C. 3708 Mayfair Street, Suite 100 Durham, NC 27707 Fax: 919/493-2047 3