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8 <br /> Orange County will act on that Land Use Element application until <br /> some reasonable time after it receives the results of the Upper <br /> Eno Watershed study referred to in paragraph 2 of this agreement . <br /> This option agreement is not a withdrawal by Duke University of <br /> its application for a change in the Land Use Element and the <br /> parties acknowledge that Duke University may continue to pursue <br /> its request for a change* in the Land Use Element. <br /> 5 . During the term of this option agreement and any , <br /> extensions to it Duke University may continue to receive and <br /> accept back-up offers to purchase the Property. Duke University <br /> represents that it has received an offer to purchase the Property <br /> which is contingent on a change in the Orange County Land Use <br /> Element and a change in the zoning of the Property which would <br /> permit the use of the Property for one or more single-family <br /> -- residences . The parties agree that that offer, a copy of which <br /> has been provided to Orange County, is such a back-up offer. <br /> 6 . Duke University agrees that Orange County, its agents <br /> or employees, may go upon the Property for the purpose of <br /> inspecting, testing and analyzing the Property at any time prior <br /> to the closing of the purchase of the Property, provided that <br /> this option has not expired. <br /> 7 . Duke University warrants that since it has owned the <br /> property it has not encumbered the property and that it has <br /> received neither notice of nor knows of any encumbrances or <br /> special assessments either pending or confirmed for sidewalk <br /> paving, road paving, water, sewer or other improvements on or <br /> adjoining the Property. Duke University and Orange County agree <br /> 4 <br />