Agenda - 05-21-1991 - Laserfiche WebLink

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OFFER TO PURCHASE AND CONTRACT 11 unty hereby offer to purchase and V as Buyer, -and wite,Martha i Hoyle upon aeeepwnce of said Offer. a as Seller, Agrees to sell and ronvry, 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 acrordartce with the Standard Provisions olhQQe WREy�VERSE SIDE HEREOF and upon the following terms and conditions: I. REAL PROPERTY; Located in she (BSS oT State of North Carolina, being known as and more particularly described as: County of _ grange Street Address Homestead Road a i a. Legal Description 3 4. 1 a e zip 2 _7516 2• PERSONAL PROPERTY: S. PURCHASE PRICE: The purchase price o f 5 2 0 (a) _ -- and shall he paid ae fellows: .in earnest money paid by with the delivery of this contract, w be held in escrow by (cash; bank. certified, or personal check) until the sale is closed, at which time it will be ye . as agent. disbursed in accordance with the Standard Provlsinnsront the REVERSE SIDE EHEREOF; tract is otherwise terminated and it is (b) i by assumption of the unpaid principal balance and all obligations of Seller on the existing loan secured by a deed of crust 3 0 2 5 0 0 .0 0 on the Property. by a promissory note secured b a purchase money 7 Y I"+ cY decd of trust on the Properly with intcrrst Prue to drfauh at the rate of % per annum payable u follows: 1 ua t r d C1 b V +t � Prepayment restrictions and/or penalties, if any, shall be: . Assumption or transfer rights, if any, shall be: (d)= 550-- Oehreeane�tlPn +rperelru�e'irrkriwcashatcl —ing. 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 firm commitment on or before N / A 'fora , effective through the date of closing, loan in o the principal amount off ^�j•/�..A for a tens of �� — rate n« ro eaceed _�,/ n % per annum, with m «tgage loan discount points n« to exceed scarfs), at an interest efforts to secure such commitment and to advise Seller immediately u P � % of the loan amount. Buyer agrees to use his best are as follows: Y Pon receipt of the lenders decision. If Seller is to pay any loan closing costs, Ehose costs (b) The Buyer must be able to assume the unpaid principal balance of the existing loan described in paragraph S(b) above for the remainder of t loan term, at an interest rate not to exceed , N Z A % per annum fixed (or describe type of loan) he with mortgage loan assumption and /or discount points not to exceed ,.kLfyA— 9ry of the Ivan balance, (Sec Standard Provision No. 2). If such aswmption requires the lender i approval, approval must be granted on or before secure such approval And to advise Seller immediately upon his receipt of the lender's decision- If Seller is to pay any loan empc on cosn� hose costs are as follows: N/A (c) There must be no restriction, easement, coring or Other go errunental regulation that would prevent the reasonable usc of the real property for S, ASSEvementson Seller warrants that there are no Special assessments, either pending or confirmed• for sidewalk, paving, water, psewer r ocher improvements on or adjoining the Property, except as follows: —�!� for payment or proration of an (Insert "None" or the identification of such assessments, if any. The agreement 6. OTHER PROVISIONS AND CONDMONS: w sct forth in paragraph 6 below.) (a) All of the Standard Provisions on the REVERS$ SIDE HEREOF are understood and shall appl to this instnmsvnt, except the following numbered Standard Provisions shall be deleted: (If none are to be deleted. state "None.) 1 2 $ j revised to read: Ad valorem taxes on real property shall be prorated on a calendar year basis to the date of closing; any deferred taxes shall be Paid at closing by Seller; (b) "As awn as possible" in Paragraph 7 shall be deemed to mean when Sellers can furnish Buyer with estate closing letters from the internal Revenue Service and the N.C. Dept, of Revenu (c) Martha G. Hoyle joins in the execution of this contract to bind herself to convey any marital interest she might have in the real property and for no other purposes. IF TFIERE ARE ANY ADDENDA TO 1111S CON'1- RACI•, INDICATE ABOVE AND A•ITACH I IERETO. 7. CI.46ING: All panes agree to execute an a before Y and all d papers necessary in connection with closing and trartafer of title on or ( 6 � emplace des/ The deed is to be made to Oran a Count North designated - g. POSSESSION: Perepion shall be delivered In the event that Buyer has agreed that possession is not delivered at closing. then Seller a and including the date of closing to and including the date that agrees to Pay to Buyer the sum of S per day from 9. COUNTERPARTS; Possession is ro be dclivcrcd as above sot forth. This offer shall becutrse a binding contract when stgncd by both Buyer and Seller. It is to be signed in 4' Ili counterpart& with a signed Counterpart being retained by each party hereto and the escrow agent, if any. f Date of Offer; Date of Ae Buyer e - - -_ /SEAL) Seller Buyer , SEAL) __,(SY.AI,) Seller 1 hereby ac ►nowkdge receipt of the carteot money herein set forth and agree to hold and disburse the same in accordance woes the terms hereof, SEAL) Firm Date disburse By: Name ofSelhng Agent/Firm Name of Listing Agent /Finn N.C. Bar ASSOC. Form Net 2. ® 1987. This Standard Form has 6sen Approved jo, tly by the: P"'� by apsarne r .+dr ee NC S. Astac• — wt&. NORTH CAROLINA BAR ASSOCIATION Writes VAlaaras a [e, Inc. • as IV . 1!l —flip. NC 2M55 NORTH CAROLINA ASSOCIATION OF REALTORSr • INC-