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is made. Certain encumbrances are generally not discoverable without a survey and will not be <br /> located through my title examination or a review of the existing recorded plats. Please advise if <br /> you would like me to assist the County in obtaining a survey for the Properties. <br /> Scope of the Engagement <br /> This engagement is specifically limited to. (1) performing the title searches described <br /> above and (2) preparing the title opinions discussed above. At the request of the County, I will <br /> prepare a title insurance application as described above without further amendment to this letter. <br /> If the County requests any other assistance related to the properties, such as clearing title <br /> objections and defects or preparing deeds, leases, closing statements, etc., such request will be <br /> documented with an amendment to this letter of agreement and will be performed at our normal <br /> hourly rates. <br /> Fees and Billing for Services Performed <br /> Ferrell Firm, P.C. will charge for work performed on this matter at our normal hourly <br /> rates. The hourly rate for the title abstractor is $75.00 per hour, The rate for work performed by <br /> Brian Ferrell is$225.00 per hour and the rate for work performed by my associate Claire Sauls is <br /> $165.00 per hour. Please note that costs of the survey (if any), environmental reports, insurance <br /> premiums,etc., are NOT included in our hourly rates. Our fees for the work outlined herein will <br /> not exceed$3,500.00. Invoices shall be due and payable upon receipt by the County. <br /> Please understand that I must charge for all work performed even if this transaction fails <br /> for any reason. However, as noted above, I will not perform title searches on Tracts 2&3 until I <br /> have written notice to proceed from the County for that work. Do not hesitate to contact me with <br /> any questions or concerns regarding this letter. I look fo and to working with you on this <br /> transaction,on behalf of the County. <br /> ncerel <br /> n . errell <br /> E FIRM <br /> The legal services engagement described 11 ein is understood and agreed to: <br /> Orange County,North Carolina <br /> By: lovzlb <br /> Frank rlifton, C Manager <br /> Date: <br /> This instrument has been pre-audited in the manner required by the Local Government Budget <br /> and Fiscal Control Act. <br /> Orange County Finance Director <br /> 2 <br />