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15® <br /> Strayhorn North 89° 46' 56" East 800 feet to a point in <br /> the northern line of Strayhorn, a new corner; running <br /> thence a new line North 79° 36' 18" West 814.45 feet to <br /> a point in the western line of property presently owned <br /> by Blackwood; running thence with Blackwood South 00° <br /> 24' 59" East 150 feet to the place and point of <br /> beginning and being designated as Lot F, containing <br /> 1.38 acres, according to plat of survey entitled <br /> PROPERTY SURVEYED 'FOR ORANGE COUNTY BOARD OF EDUCATION, <br /> dated July 9, 1987 by Alois Callemyn, Land Surveyor. <br /> 2. The party of the second part agrees to convey to <br /> the parties of the first part a certain tract or parcel of land <br /> N located in Chapel Hill Township, Orange County, North Carolina, <br /> and being more particularly described as follows: <br /> x <br /> BEGINNING at an iron stake set in the northeast corner <br /> of property presently belonging to Nannie M. Blackwood <br /> and others, the southeast corner of an existing parcel <br /> belonging to Wade B. McDonald; running thence with <br /> McDonald North 89° 09' 05" West 494.73 feet to an iron <br /> stake set on the eastern margin of the right-of-way to <br /> NC Highway 86; running thence a new line South 64° 29' <br /> 43" East 549.93 feet to a point in the eastern line of <br /> r property of Blackwood; running thence with Blackwood's <br /> line North 00° 24' 59" West 229.47 feet to the place <br /> and point of beginning and being designated as Lot E, <br /> containing 1.30 acres, more or less, according to plat <br /> of survey entitled PROPERTY SURVEYED FOR ORANGE COUNTY <br /> BOARD OF EDUCATION, dated July 9, 1987, by Alois <br /> Callemyn, Land Surveyor. <br /> 4 <br /> 3. The party of the second part in addition to <br /> conveying the land described in paragraph• 2 above to the parties <br /> of the first part shall also pay to the parties of the first part <br /> the sum of FIVE THOUSAND DOLLARS ($5,000.00) , said monies to be <br /> paid upon compliance with all of the terms and conditions of this <br /> agreement herein and delivery of a general warranty deed, free <br /> and clear of all encumbrances, save and except routine utility <br />