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DocuSign Envelope ID:01852EBC-82FE-4793-A89C-BAA6D5AE159C <br /> undisclosed defects via the title insurance policy we will procure on behalf of the County. We <br /> will update title beginning after the date of the Current Deed and otherwise coordinate any and <br /> all work with KaIo necessary to obtain a title insurance policy for the purchase amount of <br /> $740,000.00. The County will be responsible for the payment of the title insurance premium. <br /> Please be aware that matters of zoning and environmental hazards are not included in a <br /> standard title search. Please notify me immediately if you require additional information or <br /> assistance concerning these two issues. Zoning laws affect setback and use requirements to <br /> name a few. Environmental hazards include, but are not limited to, the existence of radon gas, <br /> lead-based paint, underground storage tanks and asbestos. <br /> We will prepare a legal description of the Property based on the survey that I understand <br /> is now being prepared specifically for the Transaction. The legal description will be used to <br /> describe the Property in the General Warranty Deed conveying the property to the County (the <br /> "Deed"). Save and except contract provisions related to Kalo's title work for the County, the <br /> contract for the purchase of the Property was negotiated and drafted prior to my involvement in <br /> this matter. <br /> Closin <br /> We will conduct the closing on the Transaction. The closing can occur in my offices or <br /> another location that works better for the parties. The County agrees to wire the closing funds <br /> into my trust account prior to the closing. I will make every effort to provide the County with a <br /> draft of the settlement statement no less than 24 hours prior to the closing date. Following the <br /> closing, we will update title and record the new plat and Deed in the office of the Orange County <br /> Register of Deeds. We will also prepare a final title opinion and deliver the same to Investors <br /> Title for issuance of the title insurance policy. <br /> Legal Fees &Expenses <br /> This engagement is specifically limited to: (i) coordinating the title search on the i <br /> Property as described herein; (ii) coordinating and otherwise preparing the title opinion in <br /> conjunction with Kalo; (iii) procuring title insurance; (iv) discussing any title issues discovered <br /> during the title search with you; (v) recording the documents listed above; and (vi) conducting <br /> the closing. Please be aware that additional work necessary to complete the closing, such as ' <br /> attempting to resolve significant title defects, may require work beyond the scope of this letter <br /> 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 perfornr such work <br /> at the County's specific request under an amendment to this agreement at our normal hourly <br /> rates. <br /> i <br /> Our fees for performing the legal work outlined herein are as follows: (i) $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; (ii) <br /> $225.00 per hour for all work performed by Kennon Craver attorneys which represents a local <br /> government discount :from Brian Ferrell's standard hourly rate of $265.00; and (iii) Kalo's a <br /> current hourly rate. The fees due under this agreement will not exceed $4 000.00. <br /> kennon craven,pllc <br /> 4011 rntiversiq drive,quite 300,durhnnt, ne 2770," port olfrre box 51579,dtrrhunt, nc 21771715;19 <br /> TELEPHONE 919 490 0500,FAX 919 490087_3 tc,wiv.ken noncraver_com <br />