Orange County NC Website
DocuSign Envelope ID: E788C2EB-13F2-4F6E-82FF-8D8A4368FF78 <br /> Closing <br /> We will conduct the closing on the purchase of the Property. The closing can occur in <br /> my offices or another location that works better for the parties. The County agrees to wire the <br /> closing funds into my trust account prior to the closing. We will make every effort to provide <br /> the County with a draft of the settlement statement no less than 24 hours prior to the closing date. <br /> Following the closing, we will update title and record the new plat and Deed in the office of the <br /> Register of Deeds and prepare a final title opinion and deliver the same to Investors Title for <br /> issuance of the title insurance policy, if any. <br /> Legal Fees & Expenses <br /> This engagement is specifically limited to: (1) performing the title search; (2) preparing <br /> the title opinion; (3) procuring title insurance, if any; (4) disusing any title issues discovered <br /> during the title search with you; (5) negotiating with the current owners for the purchase of the <br /> Property based on direction from the County on essential terms; (6) prepare a Purchase <br /> Agreement for the County's purchase of the Property assuming a mutually agreeable deal is <br /> reached with seller(s); (7) recording the documents listed above, if requested; and (8) conducting <br /> the closing, if requested. Please be aware that additional work necessary to complete the closing, <br /> such as attempting to resolve significant title defects, may require work beyond the scope of this <br /> letter and in excess of the "not to exceed" amount listed below. In the event the County requires <br /> representation prior to closing or additional legal work not referenced in this letter becomes <br /> necessary(such as work associated with clearing any title defects), then I will perform such work <br /> at the County's specific request under an amendment to this agreement at our normal hourly <br /> rates. <br /> Our 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 performed by Kennon Craver attorneys which represents a <br /> discount of 10% of the standard hourly rate for Brian Ferrell. The fees due under this agreement <br /> will not exceed$5,000.00. <br /> We will begin work on this transaction as soon as I received an executed copy of the <br /> associated Services Agreement from the County. Please understand that we must charge for all <br /> work performed even if this transaction fails for any reason. <br /> S:Al2_Engineering\Efland to Mebane Sewer\Contr act\BrianFen-ell\BrianFenellProposal-DURHAM-#327730-v2.1-ExhA_BasicServicesOC-PS-Parce1070915.docx <br /> Page 2 of 2 <br />