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4 <br /> Prepared by: Geoffrey E. Gledhill <br /> Return to: Geoffrey E. Gledhill, P.O. Drawer 1529, <br /> Hillsborough, NC 27278 <br /> NORTH CAROLINA <br /> ORANGE COUNTY <br /> OPTION TO PURCHASE AGREEMENT <br /> THIS OPTION TO PURCHASE AGREEMENT, made and entered into <br /> this the — day of May, 1999 by and between DUKE UNIVERSITY, a <br /> North Carolina corporation, hereafter "Duke University, " and <br /> ORANGE COUNTY, NORTH CAROLINA, a body politic and corporate, a <br /> political subdivision of the State of North Carolina, hereafter <br /> "Orange County"; <br /> WITNESSETH: <br /> Duke University, for a valuable consideration, the receipt <br /> of which is hereby acknowledged, does hereby grant, bargain, sell <br /> and convey unto Orange County the option to purchase the property <br /> hereinafter referred to as "the Property' and upon the terms and <br /> conditions hereinafter set forth. The Property is described as <br /> follows: <br /> The 62 . 652 acre tract of land identified as Parcel <br /> Number 1 on the plat of property titled "Property of <br /> Duke University, ' prepared by James R. Hudson, R.L. S. , <br /> which plat is recorded at Plat Book 43, Page 83, orange <br /> County Registry. The Property is further identified as <br /> Orange County P. I.N. 9855-50-8167 and has an Orange <br /> County tax map reference of 3 .41-14. <br /> THE TERMS AND CONDITIONS OF THIS OPTION ARE AS FOLLOWS: <br /> 1. The purchase price for this option is ONE HUNDRED AND <br /> 00/100 DOLLARS ($100 . 00) . Duke University acknowledges receipt of <br /> the purchase price for this option. Any payment made for the <br /> purchase of this option and the payment for extensions hereto, if <br /> 1 <br />