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OFFER TO PURCHASE AND CONTRACT -VACANT LOT/LAND 3
<br />NOTE: "phis contract is intended fir unimproved real property that Buyer will purchase only far personal use and ~~ ill not subdivide. It
<br />should nat be used tc) sell subdivided property that has not been platted, properly approved and recorded ~~~ith the re~~ister of deeds as of
<br />the date of the contract. If Seller is Buyer's builder and the sale involves the construction of a•ne~~~ sin~~le family il~~~ellin` prior to
<br />closing, use the standard Oi'fer to Purchase and Contract (Form ?-Tj ~i ith the Neva Cansn•uction Addendum (Form 2,A.-"I'j.
<br />Orange County , as Buyer,
<br />hereby offers la purchase and Lewis W. Crabtree Faye Crabtree , as Seller,
<br />upon acceptance of said offer, agrees to sal I and convey, al I of that plot, piece or parcel of land described below (hereafter referred to as
<br />the "Property")• upon the following terms and, conditions:
<br />i. REAL PROPERTY: 1_ocated in the City of Hillborough ,
<br />County of ORANGE ,State afNarth'Carolina, being known as and more particularly described as:
<br />Street Address 0 Walnut Grove Church Rd. Lip 27278
<br />Subdivision Name PIN 9867-41-9070
<br />Plat Reference: Lot ,Block or Section Old Map ID 2.46..37 as shown on
<br />Plat Book or Slide at Page(s) (Property acquired by Seller in Deed Book at Page ).
<br />^ All ^ A portion of the property in Deed Reference: Book Page No. ORANGE Counn~
<br />NOTE: Prior"to signing this Offer to Purchase and Contract -Vacant Lot/Land, Buyer is advised to review Restrictive Covenants, if
<br />any, which orgy limit the use of the Property, and to read the Declaration of Restrictive Covenants, By-Laws, Articles of incorporation,
<br />Rules and Re~ulatians. and other ~~avernin~ documents of the owners' association and!or the subdivision, if applicable.
<br />2. PURCHASE PRICE: The purchase price is $ 140, 000.00 and shall be paid as follows:
<br />(a) $ -------------------- ,EARNEST MONEY DEPOSIT with this offer by ^ cash ^ personal check ^ bank check
<br />^ certified check ^ other: to be deposited and held in escrow by
<br />---------=--------------------- ("Escro~~~ Agent"); until the sale is closed, at which time it will be credited to
<br />Buyer, or until this contract is othenaise terminated. In the event: (1) this offer is not accepted; ar (2) any of the conditions hereto
<br />are not satisfied, then all earnest monies shall be refunded to Buyer. In the event of breach of this contract by Seller, all earnest
<br />monies shall be refunded to Buyer upon Buyer's request, but such return shall not affect any other remedies available to Buyer for
<br />such breach. In the event of breach of this contract by Buyer, then all earnest monies shall be forfeited to Seller upon Seller's
<br />request, but such forfeiture shall not affect any other remedies available to Seller for such breach.
<br />NOTE: In the event of a dispute bets=een Seller and Buyer over the return or forfeiture of earnest money held in escrow by a
<br />broker, the broker is required by state law to retain said earnest money in the broker's trust or escrow account until a written release
<br />from the parties consenting to its disposition has been obtained or until disbursement is ordered by a court of competent
<br />jurisdiction.
<br />(b) $ ------------------- , ADDITIONAL EARNEST MONEY DEPOSIT to be paid to Escrow Agent na later than
<br />,TIME BEING OF Tl-lE ESSENCE WIT!-I REGARD TO SAID DATE.
<br />(c) $ -------------------- ,OPTION FEE in accordance with paragraph 11, Alternative 2, to be paid to Seller on the
<br />Effective Date as set forth in paragraph 19. (NOTE: tf Alternative 2 applies, then do not insert $0, N/A, or leave blank).
<br />(d) $ -------------------- , BY ASSUMPTION of the unpaid principal balance and all obligations of Seller on the existing
<br />loan(s) secured by a deed of trust on the Property in accordance with the attached Loan Assumption Addendum.
<br />(e) $ -------------------- , BY SELLER FINANCING in accordance with the attached Seller Financin~~ Addendum.
<br />(i) $ 140 000.00 ,BALANCE of the purchase price in cash at Closing. .
<br />3. CONDITIONS: (State N/A in each blank dial is not a condition to this contract.)
<br />(a) Buyer must be able to obtain a ^ Com=entional ^ Other: ---------------------------------------- loan at a
<br />^ Fixed Rate ^ Adjustable Rate in the principal amount of --------------- for a tenor of -------- year(sj, at an
<br />initial interest rate not to exceed ------- °.'n per annum, with mort,=age loan discount points not to exceed °& of the
<br />loan amount. Buyer shall apply for said loan within --------- ~ days of the Effective Date of this contract. Buyer shall use
<br />Buyer's best efforts to secure the lender's customary lawn conunitment letter on or before and to
<br />satish~ all terms and conditions of the loan conunitment letter by Closint=. After the above letter date, Seller may request in ~~•ritin~=
<br />from Buyer a ropy of the loan commitment letter. 11 Buyer fails rn provide Seller a cope of the loan camm~iunent letter or a written
<br />waiver of this loan condition ~~-ithin five days of receipt of Seller's request, Seller may terminate this contract by «ritten notice to
<br />Buyer at any time thereafter, provided Seller has not then received a cop}~ ofthe letter or the waiver.
<br />This i'orm jointly approved by: Page 1 ofd ~_
<br />® .. e
<br />North Carolina 13ar Association
<br />moat aoosiuc
<br />REALTOR" North Carolina Association of REALTORSOO, Ina ,f, oaraaroeirv ,STANDARD FORM 12 - T
<br />Buyer Initials Seller lnitials~ L~V ~ , ~~~ !~.~~ ~~" ©7/2006
<br />chunun strcrt reult} 121 n churron st. suite Ic hilsboruugh, NC 27'_78
<br />Phone: (919) 732 - ISSi Fos: (919) 732 - 9t71 Ja~~id bnird crabtrcc
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