Agenda - 11-05-1990 - Laserfiche WebLink

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OFFER TO PURCHASE AND CONTRACT condemnation Oran e Count North Carolina under threat of and in lieu of ,as Buyer, as Seller, hereby offers to purchase and upon acceptance of said offer, agrees to sell and convey, all of that plot, piece or parcel of land described below, together with all improvements located thereon and such personal property as is listed below (the real and personal property are collectively referred to as "the Property "), in accordance with the Standard Provisions on the REVERSE SIDE HEREOF and upon the following terms and conditions: I. REAL PROPERTY: Located in the City of , County of State of North Carolina, being known as and more particularly described as: Z� Street Address Le al T7 cri do land and an and all im rovements thereon located on bland described Orangeoin�y ax a arce a s orou owns ip ap s a proper y de- r rr>_be 2 PERSONAL PROPERTY: r 3. PURCHASE PRICE. The purchase price is $ and shall be paid as follows: (a) g -- in earnest money paid by (cash; bank, certified, or personal check) with the delivery of this contract, to be held in escrow by as agent, until the sale is closed, at which time it will be credited to Buyer, or until this contract is otherwise terminated and it is disbursed in accordance with the Standard Provisions on the REVERSE SIDE HEREOF; (b) S by assumption of the unpaid principal balance and all obligations of Seller on the existing loan secured by a deed of trust on the Property; (c) 5 -- by a promissory note secured by a purchase money deed of trust on the Property with interest prior to default at the rate of % per annum payable as follows: Prepayment restrictions and /or penalties, if any, shall be: Assumption or transfer rights, if any, shall be: (d) S K 9 ., A 9 0 _ Q 0 ,tF��aFdrtce efzhe-porehn—price in cash at closing. 4. CONDITIONS: (State N/A in each blank of paragraph 4(a) and 4(b) that is not a condition to this contract.) (a) The Buyer must be able to obtain a fine commitment on or before N / A effective through the date of closing, for a _ N/A loan in the principal amount of 5 NIA for a term of N/A year(s), at an interest rate not to exceed % per annum, with mortgage loan discount points not to exceed N I A % of the loan amount. Buyer agrees to use his best efforts to secure such commitment and to advise Seller immediately upon receipt of the lender's decision. If Seller is to pay any loan closing costs, those costs are as follows: _ See a) below (b) The Buyer must be able to assume the unpaid principal balance of the existing loan described in paragraph 3(b) above for the remainder of the loan term, at an interest rate not to exceed JA % per annum fixed (or describe type of loan) with mortgage loan assumption and /or discount points not to exceed N / A % of the loan balance. (See Standard Provision No. 2). If such assumption requires the lender's approval, approval must be granted on or before N/ A - _ _ . Buyer agrees to use his best efforts to 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 costs are as follows: N Z A (c) There must be no restriction, easement, zoning or other governmental regulation that would prevent the reasonable use of the real property for nffi e- e /institut_iorLa�, nbli�p�rkinc� and cgV rnmental purposes. 5. ASSESSMENTS: Seller warrants that there are no special assessments, e,(ther pending or confirmed, for sidewalk, paving, water, sewer or other improvements on or adjoining the Property, except as follows: - (Insert "None" or the identification of such assessments, if any. The agreement for payment or proration of any assessments indicated is to be set forth in paragraph 6 below.)