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141 <br /> BEGINNING at an iron stake located in the center of the right- <br /> of-way to N.g. Highway 86, said stake being located bx measur- <br /> ing North 42 01' 50" West 478.62 feet and North 39 00' 36" <br /> West 115.26 feet from the point where the center of the right- <br /> of-way to N.C. Highway 86 intersects the center of the right- <br /> of-way to New Hope Church Road (S.R. 1723) ; running thence with <br /> the center of the right-of-way to N.C. Highway 86 the followin <br /> courses And distances: North. 39° 00' 36" Weat 117 .42 feet; <br /> North 33 54' 33" West 227.56 feet; North 29 34' 02" West <br /> 271.32 feet; North 24 29' 42". West 206.75 feet; North 19° 27' <br /> 28" West 273.87 feet and North 15 10',44" West 185.08 feet to <br /> an iron stake; running thence South 89° 09' 05" East 54.74 feet <br /> to an iron stake set on the eastern margin of th8 right-of-way <br /> to N.C. Highway 86; thence continuing South 89 09' 05" East <br /> 494.73 feet to an iron stake, corner with Robert Strayhorn; <br /> running thence with Strayhorn South 00 36' 26" East 753.52 <br /> feet to the place and point of beginning and being designated <br /> as Lot A, containing 8.51 acres, more or less, according to <br /> plat of survey entitled PROPOSED SCHOOL SITE FOR ORANGE COUNTY <br /> BOARD OF EDUCATION, dated July 9, 1987, by Alois Callemyn, Land <br /> Surveyor. <br /> 2. That the agreed upon purchase price for the purchase of <br /> said land to be paid by the Buyer to the Sellers is THIRTEEN <br /> THOUSAND DOLLARS ($13,000.00) per acre, said purchase price shall be <br /> paid upon compliance with all terms and conditions of this Agreement <br /> herein and delivery of a general warranty deed, free and clear of <br /> all encumbrances, save and except routine utility easements, the <br /> right-of-way for N.C. Highway 86 and the conditions and terms set <br /> forth in this Agreement. <br /> 3. The closing shall take place in the Office of the Orange <br /> County Board of Education, Hillsborough, North Carolina on or before <br /> twenty days (20) from and after the date of approval of this Agree- <br /> ment by the Orange County Board of Commissioners. <br /> 4. As a condition of the sale of said land, the Buyer agrees <br /> to pay the cost of preparation of a general warranty deed from the <br /> Sellers to the Buyer and the Buyer further agrees to pay the revenue <br /> stamps for the recordation of the general warranty deed conveying <br /> title to the Buyer. <br /> 2 <br />