Agenda - 12-12-2006-5i - Laserfiche WebLink

Browse Search

STATE OF NORTH CAROLINA COUNTY OF ORANGE OPTION AGREEMENT THIS OPTION AGREE ENT (hereinaft r referred to as the "Option") is made and entered into as of this i~4~day of f=~ by and between TRINITY SCHOOL OF DURHAM AND CHAPEL HILL, INC., a nonprofit corporation organized under the laws of the State of North Carolina (hereinafter referred to as the "Owner") and TRIANGLE LAND CONSERVANCY, a nonprofit corporation organized under the laws of the State of North Carolina and having its principal offices in Raleigh, North Carolina (hereinafter referred to as the "Optionee"). WITNESSETH In consideration of $500.00 and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and of the agreements contained in this Option, Owner does hereby grant and convey to the Optionee, and its successors and assigns, the exclusive right and option to purchase in fee simple absolute, upon the terms and conditions .hereinafter set forth, a tract of land containing approximately 14.683 acres, together with all .buildings and improvements thereon, and being a portion of that certain tract or parcel of land located in Orange County, North Carolina, containing 18.67 acres, more or less, and which is more particularly described as follows: Being an 18.67 acre, more or less, tract or parcel of land further described in a deed recorded in Deed Book 1852, Page 237, Orange County Registry and depicted and/or described on a Plat recorded in Plat Book'93 Page 1, Orange County Registry. PIN: 0800096887. Reference to said deed and plat are hereby made for a more particular description. Said 14.683 acre, tract or parcel of land is hereinafter referred to as the "Property" and is depicted as "Tract 1" on Exhibit A attached hereto and incorporated herein by reference. The exact dimensions and boundary lines of the Property shall be determined by a survey performed by a registered surveyor prior to the Closing. 'The following terms, provisions, and conditions are further agreed, to: 1. EXPIRATION DATE AND METHOD OF EXERCISE. This Option shall remain in effect for two (2) months from the date that th Option has been executed by the Owner and shall expire at 5:00 p.m. on' the ~ day of ~~~~ ~ 20 D~. This Option shall be exercised upon posting, by certified mail, a wntten notice to the Owner at the notice address set forth in paragraph 15 of this Option. Exercise shall be deemed timely if such written notice is mailed on or before the date first set forth in this paragraph. Z. OPTION PRICE. The price for this Option is five hundred and no/100 dollars ($500.00) ("Option Price"), to be paid by Optionee upon the signing by Optionee of