2013-541 AMS - Gene Raymond McCauley for 1119 US Hwy 70A Property - $182,000

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Please return this copy to the Clerk to the Board's _ office for permanent agenda file. *"o"' ' OFFER TO PURCHASE AND CONTRACT 7 b [Consult"Guidelines"(Standard Form 2G)for guidance in completing this form] For valuable consideration,the receipt and legal sufficiency of which are hereby acknowledged, Buyer offers to purchase and Seller upon acceptance agrees to sell and convey the Property on the terms and conditions of this Offer To Purchase and Contract and any addendum or modification made in accordance with its terms(together the"Contract"). 1. TERMS AND DEFINITIONS: The terms listed below shall have the respective meaning given them as set forth adjacent to each term. (a)"Seller": Gene Raymond McCauley(and spouse if any) (b)"Buyer": Orange County,North Carolina (c)"Property":The Property shall include all that real estate described below together with all appurtenances thereto including the improvements located thereon and the fixtures and personal property listed in Paragraphs 2 and 3 below. Street Address: 1119 US Hwy 70A City: Hillsborough Zip: 27278 County:Orange,North Carolina (NOTE:Governmental authority over taxes,zoning,school districts,utilities and mail delivery may differ from address shown.) Legal Description: (Complete ALL applicable) Plat Reference: Lots 19, 20, 21 and 22, C. P. Whitfield Farm as shown on Plat Book 1 Pa a 46 Orange County Registry plus the Gap Area as combined with Lots 21 &22—See the attached Exhibit A The PIN/PID or other identification number of the Property is: 9874716466 and 9874715479 Other description: Some or all of the Property may be described in Deed Book 4647,Page 438, Orange County Registry (d)"Purchase Price": $ 182,000.00 paid in U.S.Dollars upon the following terms: $ BY DUE DILIGENCE FEE made payable to Seller $ BY INITIAL EARNEST MONEY DEPOSIT made payable to Escrow Agent named in Paragraph 1(f)with this offer by❑cash❑personal check❑official bank check ❑ other: $ BY (ADDITIONAL) EARNEST MONEY DEPOSIT made payable to Escrow Agent named in Paragraph 1(f) by cash or immediately available funds such as official bank check or wire transfer to be delivered to Escrow Agent no later than TIME BEING OF THE ESSENCE with regard to said date. $ BY ASSUMPTION of the unpaid principal balance and all obligations of Seller on the existing loan(s)secured by a deed of trust on the Property in accordance with the attached Loan Assumption Addendum(Standard Form 2A6-T). $ BY SELLER FINANCING in accordance with the attached Seller Financing Addendum(Standard Form 2A5-T). $ BY BUILDING DEPOSIT in accordance with the attached New Construction Addendum(Standard Form 2A3-T). $ 182,000.00 BALANCE of the Purchase Price in cash at Settlement(some or all of which may be paid with the proceeds of a new loan) Should Buyer fail to deliver either the Due Diligence Fee or any Initial Earnest Money'Deposit by the Effective Date, or should any check or other funds paid by Buyer be dishonored, for any reason,by the institution upon which the payment is drawn,Buyer shall have one(1)banking day after written notice to deliver good funds to the payee. In the event Buyer does not timely deliver good funds, Seller shall have the right to terminate this Contract upon written notice to Buyer. (e) "Earnest Money Deposit": The Initial Earnest Money Deposit, the Additional Earnest Money Deposit and any other earnest monies paid in connection with this transaction,hereinafter collectively referred to as"Earnest Money Deposit",shall be deposited KC:305777v1 (0011732 0c) Buyer initials Seller initials j +T Page 1 of 10 Association Form No.2©Revised 2007,2008,1/2011 This standard form has been approved jointly by:North Carolina Printed by Agreement with the NC Bar Association North Carolina Bar Association—NC Bar Form No.2 North Carolina Association of Realtors®,Inc.—Standard Form 2T