Orange County NC Website
J <br /> requirements to name a few. Environmental hazards include, but are not limited to,the existence <br /> of radon gas, lead-based paint,underground storage tanks and asbestos. <br /> Closing <br /> I will prepare a legal description of the Property based on the survey that I understand is <br /> now being prepared specifically for this transaction. The legal description will be used to <br /> describe the Property in the Warranty Deed of Conservation Easement (the "Easement Deed"). <br /> The Easement Deed was drafted,negotiated and executed prior to my involvement in this matter. <br /> Therefore, I will not have any responsibility for preparation of the Easement Deed except for the <br /> preparation of the legal description. I also understand that it may be necessary for us to draft one <br /> or more subordination agreements given the Easements Property is currently encumbered by a <br /> mortgage loan. I am prepared to assist the County in the negotiation and/or preparation of any <br /> subordination agreement that may be necessary. I will prepare a closing statement to be <br /> executed by the parties. I am willing to conduct the closing in my offices or another location that <br /> works better for the parties. The County agrees to wire the closing funds into my trust account <br /> prior to the closing. I will mak=e every effort to provide the County with a draft of the settlement <br /> statement no less than 24 hours prior to the closing date. Following the closing, I will update <br /> title and record the new plat and Easement Deed in the office of the Register of Deeds and <br /> prepare a final title opinion and deliver the same to Investors Title for issuance of the title <br /> insurance policy. <br /> Legal Fees & Expenses <br /> My fees for performing the legal work outlined herein are as follows: (1) $85.00 dollars <br /> per hour for the services of my firm's real estate paralegal who will collect the necessary <br /> documents from the office of the Register of Deeds and otherwise assist me with this matter; and <br /> (2) $225.00 per hour for all work I perform. The maximum fees due under this agreement will <br /> not exceed $3,000.00. <br /> Please note that costs of survey, environmental reports, insurance premiums, tax stamps, <br /> recording fees, and other costs are NOT included in the legal fee quoted above. Any and all such <br /> costs incurred during this engagement will be billed to the County. In the event the County <br /> requires representation prior to closing or additional legal work not referenced in this letter <br /> becomes necessary (such as work associated with clearing any title defects), then I will perform <br /> such work at the County's specific request under an amendment to this agreement at our normal <br /> hourly rates <br /> I estimate the preliminary title opinion will be completed two weeks following my receipt <br /> of an executed copy of this letter. I can complete the closing whenever you request thereafter <br /> assuming the status of title is acceptable to the County. <br /> a <br /> 2 <br /> kennon cfaver,plle <br /> 4011 university drive,suire 300,thtrl Im,nc 2,770, post offiee box 515?9,drrrbant.ne 2 7717.1579 <br /> TELEPHONE 91.94900500,FAX 9194900873 uu•uakrnnonn'a„er.com <br />