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OFFER TO PURCHASE AND CONTRACT 2
<br />orange county, North Carolina under threat of and in lieu of condemna
<br />hereby often to purchase and
<br />as
<br />as
<br />upon acceptance of said offer, agrees to sell and convey, all of that plot. piece or parcel of land described below, together with all mprow
<br />located thereon and such 'personal property as is listed below (the real and personal property are collectively referred to as "the Propertt
<br />accordance with the Standard Provisions on the REVERSE SIDE HEREOF and upon the following terms and conditions:
<br />1. REALPROPERTY: Located in the City of Hi 11.Sbnrnttgh .County of
<br />State of North Carolina. being known as and more particularly described as:
<br />Street Address
<br />Zip
<br />1 ratio land and an and all im rovements thereon located on land de:
<br />as Oran �`NRA ax a stet s orou owns ip a a propf
<br />scribe _�__
<br />S. PURCHASE PRICE: The purchase prim is; S9_r .�.9 0 _ 0 n and shall be paid as follows:
<br />(a) S — in eamest money paid by (cash: bank. certified, or personal c
<br />with the delivery of this contract, to be held in escrow, by its a
<br />until the sale is closed, at which time it will be credited to Buyer, or until this contract is otherwise terminated and
<br />disbursed in accordance with the Standard Provisions on the REVERSE SIDE HEREOF:
<br />(b) S —` by assumption of the unpaid principal balance and all obligations of Seller on the existing loan secured by a deed of
<br />an the Property:
<br />(c) 3 -- .by a promissory note secured by a purchase money decd of trust on the Property with interest prior to default at the ra
<br />per annum payable as follows:
<br />Prepayment restrictions and /or penalties if any, shall be
<br />Assumption or transfer rights, if any. shall be:
<br />ion
<br />aver.
<br />tiller,
<br />tenrB
<br />in
<br />cribed
<br />Tt�y de -�
<br />eck)
<br />it is
<br />rust
<br />r of
<br />(d) $ -9 51 Q_...Q ,the'batanm of the purchaer"ce in cash at closing, -
<br />41 CONDCIIONS: (State N/A in each blank of paragraph 4(a) and 4(b) that is not a condition to this contract,)
<br />(a) The Buyer must be able to obtain a firm commitment on or before - �A,_,_••� cfrcetive through the date• of dr, inn
<br />fora loan in the principal amount of S — N/A for a term of N / A year(s), a, an int resi
<br />rare not to exceed --N,A % per annum, with mortgage loan discount points not to exceed NN I A % of the loan amount. Buyer agrees to use his besi
<br />efforts to secure such commitment and to advise Seller immediately upon receipt of the lender's decision. If Seller is to pay any loan thing costs. there :o+u
<br />areas follows: 4 w
<br />(b) The Buyer must be able to assume the unpaid principal balance of the existing loan described in paragraph Vb) above for the remainder of the
<br />loan term, at an interest rate not to exceed _„N I A % per annum fixed (or describe type of loan)
<br />with mortgage loan assumption and /or discount points not to exceed NN y—.,/ A -- a of the loan balance. (See Standard Provision No. 2). if such assum Lion
<br />requires the lenders approval, approval must be granted on or before , Buyer agrees to use his best effo to
<br />secure such approval and to advise Seller immediately upon his receipt of the lender's decision, If Seller is to pay any loan assumption costs. those Kosts
<br />are as follows: N A
<br />(c) "['here most be no restriction, easement, zoning or other governmental regulation that would prevent (he reasonable use of the real property for
<br />pwrpc 505.
<br />5. ASSESSMENTS: Seller warrants that there are no special assessments. either pending or confirmed, for sidewalk, paving, water .ewer or
<br />other improvements on or adjoining the Property, except as follows:
<br />(Inu•rt "None" er the identification of such assessments. if anv. The agr(-e,T
<br />for payment or proration of any asacsmt•nts indicated is to be sot forth in paragraph 6 below.)
<br />6. OTHER PROVISIONS AND CONDITIONS:
<br />(a) All of the Standard Provisions on the REVERSE SIDE HEREOF arc undentund and shall apply to this instrument, except the following numbe
<br />StmsdarJ Provisions shall b<• olrletrtl: (If nnnc an• to 1,t drletcd, state "urine",) _j,_,. _, 7 A . —__
<br />4(a) is revised to read: All closing costs, including attorney's fees
<br />of the Seller's Attorney not to exceed $750.00 and all ad valorem taxes
<br />real property shall be paid by the Purchaser.
<br />6(c) is revised by deleting the last sentence therefrom.
<br />Wjelliam R. Bartow, the husband of Virginia C. Bartow, executes this
<br />agreement for the purpose of releasing his marital interests in the
<br />property and agrees to Article 7 to the extent of releasing said marita
<br />IF THERE ARE ANY ADDENDA TO THIS CONTRACT, IMICATE ABOVE AND ATTACH HERETO. i n te:
<br />7. CLOSING: All parties agree to execute any and all documents and papers necessary in connection with closing and transfer of tide or
<br />before , at a place designated by - - Buyer
<br />The deed is to be made to
<br />S. POSSESSION: Possession shall be delivered
<br />In the event that Buyer has agreed that possession is not delivered at closing, then Seller agrees to pay to Buyer the sum of S N/A per day fr
<br />and including the date of closing to and including the date that possession is to be delivered as above set forth.
<br />9. COUNTERPARTS: This offer shall become a binding contract when signed by both Buyer.and Seller. It is Lobe signed in two (2 )
<br />counterparts with a signet) counterpart t.•ing retained by each party hereto and the —crow agent, if any.
<br />Date of Offer. Date of Acceasance:
<br />on
<br />'eStS _
<br />nr
<br />Buyer SEAL) Seller v �� IS L)
<br />Buyer (SEAL) Srllcr IS L)
<br />1 hereby acknowledge receipt of the earnest money herein set forth and agree to hold and disburse the same in accordance with the tcmu hereof.
<br />Date Firm _
<br />By:
<br />Name of Selling Agent/ Firm
<br />Name of Listing Agent/ Firm
<br />N.C. Bar Aswc. Form No. 2, 0 1987
<br />Printed by apeentent with the NC ear Assoc. — 1901.
<br />lac wulsms a Ca. toe, r cos 127 • yadknArdk, rr e, 27055
<br />This Standard Fonn has been approved jointly by the:
<br />NORTH CAROLINA BAR ASSOCIATION
<br />NORTH CAROLINA ASSOCIATION OF REALTORS* , INC.
<br />
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