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151 <br /> easements conveying title to the property described in paragraph <br /> 1 above to the party of the second part. <br /> 4. The party of the second part shall convey title to <br /> the tract or parcel of land described in paragraph 2 above by <br /> general warranty deed, Tree and clear of all encumbrances, save <br /> and except routine utility easements; the parties hereto <br /> acknowledge that the party of the second part does not presently <br /> own in fee simple the tract or parcel of land described in <br /> paragraph 2 above and that this agreement contemplates and is <br /> conditioned upon acquisition of said tract or parcel of land from <br /> o• Nannie M. Blackwood, Mary A. Blackwood, John H. Blackwood and <br /> W• David H. Blackwood as trustee for Gary Blackwood and David H. <br /> Blackwood as Executor and Trustee under the will of Homer D. <br /> 0 <br /> • Blackwood. The parties hereto acknowledge and agree that in the <br /> • event that the party of the second part is unable to acquire <br /> • title to the said tract or parcel of land described in paragraph <br /> W 2 above, that this contract shall be null and void and of no <br /> a effect and neither party shall any further obligations hereunder. <br /> 5. All parties agree to exchange deeds and to pay the <br /> u agreed upon additional purchase price as set forth above at <br /> closing. Closing shall take place in 'the office of the Orange <br /> County Board of Education, Hillsborough, North Carolina, or at <br /> such other place as may be designated by the party of the second <br /> part. <br /> 6. The parties hereto acknowledge and agree that this <br /> agreement for the exchange of land is subject to approval by the <br /> Orange County Board of Commissioners and do further acknowledge <br /> 3 <br />