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4. SETTLEMENT CHARGES: <br /> (a) Seller shall pay for the preparation of a deed, for the preparation and recording of <br /> all documents necessary to convey marketable fee simple title free of liens and encumbrances, <br /> and for the excise tax required by law. <br /> (b) Buyer shall pay for recording the deed. <br /> (c) Ad valorem taxes on the Property, if any, for the calendar year in which the <br /> closing occurs shall be paid by Seller. The credit for pro-rated ad valorem taxes on the Property <br /> that would be due Seller if Buyer were not a North Carolina local government shall be added to <br /> the purchase price as provided in Section 1 of this Agreement. Seller shall pay any Orange <br /> County ad valorem taxes on personal property of Seller for the entire year of the closing. Seller <br /> shall pay all deferred taxes and any tax penalties including late listing penalties. <br /> (d) Buyer shall pay for a survey of the Property and all other closing costs other than <br /> those associated with environmental cleanup, if necessary, as provided for in Section 3(f). <br /> 5. CONDITIONS: <br /> (a) Seller agrees to allow Buyer access to the Property for the purpose of inspecting, <br /> testing and analyzing the Property at any time prior to the closing of the purchase of the <br /> Property. <br /> (b) On request of Buyer, Seller agrees to exercise Seller's best efforts to deliver to <br /> Buyer, as soon as reasonably possible following the signing of this agreement, copies of any title <br /> information in possession of or available to Seller, including, but not limited to,title insurance <br /> policies, attorneys opinions on title, surveys, covenants, deeds, notes, and deeds of trust and <br /> easements relating to the Property. <br /> (c) Any and all deeds of trust, liens or other charges against the Property not assumed <br /> by Buyer must be paid and cancelled by Seller prior to or at closing. <br /> 6 <br />