2017-634-E DEAPR - Kennon Craver, Attorney at Law - Legal service for conservation easement for Hill farmland (15 acres)

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onnunign Envelope ID:ooAo4ecn-Eess-4FoE*2co-BEme1FnAF44e insurance coverage, does not cover any and all damage that may arise from a title defect. Title insurance also does not necessarily provide immediate relief in the form of the payment of a claim given title insurers have a reasonable time to correct defects in title which the insurer reasonably believes can be corrected. What constitutes a "reasonable time" depends upon the nature of the defect. Assuming title is insurable, we will obtain a title insurance policy in favor of the County in the amount of the purchase price for the Easement. The County will be responsible for the payment of the title insurance premium at closing. Please be aware that matters of zoning and environmental matters are not included in a standard title search. \fe, as closing attorneys, do not provide any opinion as to the environmental condition of the Property. Please notify me immediately if the County requires additional information or assistance concerning these two issues. Zoning laws affect setbacks and use requirements to name a few. Environmental hazards include, but are not limited to, the existence of radon gas, lead-based paint, underground storage tanks and asbestos. We will prepare a legal description of the Property based on the County's survey, if any. If the County does not prepare a survey for this transaction the legal description will be based on the deed(s) into the current owner. The County will make payment arrangements directly with the surveyor. The legal description will be used to describe the Property in the Warranty Deed of Conservation Easement (the "Easement Deed"). I understand that the County does not require our assistance with negotiating or drafting the Easement Deed, so the preparation of that document is not included in the scope of our engagement. Closing We will conduct the closing on the Easement. The closing can occur in our offices or another location that works better for the parties. The County agrees to wire the closing funds into my trust account prior to the closing. We will make every effort to provide the County with a draft of the settlement statement no less than 24 hours prior to the closing date. Following the closing, we will update title and record the new plat and Easement Deed in the office of the Register of Deeds and prepare a final title opinion and deliver the same to the title company for issuance of the title insurance policy. Wire Instructions Our wiring instructions are included with this letter. BEFORE SENDING ANY WIRE, CALL OUR OFFICE AT (919) 490-0580 TO VERIFY THE INSTRUCTIONS. WE WILL NOT CHANGE WIRING IN8TR0CTDONS, IF YOU RECEIVE WIRING INSTRUCTIONS FOR A DIFFERENT BANK, BRANCH LOCATION, ACCOUNT NAME OR ACCOUNT NUMBER OTHER THAN TH INSTRUCTIONS YOU HAVE ON FILE, THEY SHOULD BE PRESUMED FRAUDULENT. DO NOT SEND ANY FUNDS AND CONTACT OUR OFFICE IMMEDDATELY, FAILURE TO FOLLOW THIS PROCEDURE ENDANGERS YOUR FUNDS. Legal Fees & Expenses This engagement is specifically limited to: (1) performing the title search; (2) preparing the title opinion; (3) procuring title insurance (if available); (4) disusing any title issues discovered during the title search with you; (5) recording the documents listed above; (6) preparing the settlement statement and (7) conducting the closing. Please be aware that additional work necessary to complete the closing, such as attempting to resolve significant title defects, significant work related to locating heirs or resolving estate issues related to the property in the chain of title, etc., may require work beyond the scope of this letter and cost in excess of the fee listed below. In the event the County requires representation prior to closing kpmoo///Tonxr,p8/ KC: 367198,1 4m/ ""/,,"/« ",.'°,~ =zrro7 ^ r",'oVsa box 515ruob",brim, ",27n7-o7» TELEPHONE ')1yenumu« FAX wo,yo^,zr • =~ +,"""°''"""' rum