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<br />Section 14, Enforceability: This Agreement shall become a contract when signed by both Buyer and Seller and such signing is
<br />communicated to both parties; it being expressly agreed that the notice described in Section 12 is not required for effective
<br />communication for the purposes of this Section 14. The parties acknowledge and agree that: (i) the initials lines at the bottom of each
<br />page of this Agreement are merely evidence of their having reviewed the terms of each page, and (ii) the complete execution of such
<br />initials lines shall not be a condition of die effectiveness of this Agreement. This Agreement shall be binding upon and inure to the
<br />benefit of the parties, their heirs, successors and assigns and their personal representatives.
<br />Section 15. Adverse Information and Compliance with Laws:
<br />(a) Seller Knowledge: Seller has no actual knowledge of (i) condemnation(s) affecting or contemplated with respect to the
<br />Property; (ii) actions, suits or proceedings pending or threatened against the Property; (iii) changes contemplated in any applicable
<br />laws, ordinances or restrictions affecting the Property; or (iv) governmental special assessments, either pending or confined, for
<br />sidewalk, paving, water, sewer, or other improvements on or adjoining the Property, and no pending or confirmed owners' association
<br />special assessments, except as follows (Insert "None" or the identification of any matters relating to (i) through (iv) above, if any):
<br />a4_a_
<br />Note: For purposes of this Agreement, a "confirmed" special assessment is defined as an assessment that has been approved by 'a
<br />governmental agency or an owners' association for the purpose(s) stated, whether or not it is fully payable at time of closing. A
<br />"pending" special assessment is defined as an assessment that is under formal consideration by a governing body. Seller shall pay all
<br />owners' association assessments and all governmental assessments confirmed as of the date of Closing, if any, and Buyer shall talce title
<br />subject to all pending assessments disclosed by Seller herein, if any.
<br />Seller represents that the regular owners' association dues, if any, are $ N/A per Year
<br />(b) Compliance: To Seller's actual knowledge, (i) Seller has complied with all applicable laws, ordinances, regulations,
<br />statutes, rules and restrictions pertaining to or affecting the Property; (ii) performance of the Agreement will not result in the breach of,
<br />constitute any default under or result in the imposition of any lien or encumbrance upon the Property under any agreement or other
<br />instrument to which Seller is a party or by which Seller or the Property is bound; and (iii) there are no legal actions, suits or other legal
<br />or administrative proceedings pending or threatened against the Property, and Seller is not aware of any facts which might result in any
<br />such action, suit or other proceeding,
<br />Section 16. Survival of Representations and Warranties: All representations, warranties, covenants and agreements made by the
<br />parties hereto shall survive the Closing and delivery of the deed. Seller shall, at or within six (6) months after the Closing, and without
<br />further consideration, execute, acknowledge and deliver to Buyer such other documents and instruments, and take such other action as
<br />Buyer may reasonably request or as may be necessary to more effectively transfer to Buyer the Property described herein in accordance
<br />with this Agreement.
<br />Section 17. Applicable Law: This Agreement shall be construed under the laws of the state in which the Property is located. This form
<br />has only been approved for use in North Carolina.
<br />Section 1$, Assignment: This Agreement is freely assignable
<br />Section 19. Tax - Deferred Exchange: In the event Buyer or Seller desires to effect a tax - deferred exchange in connection with the
<br />conveyance of the Property, Buyer and Seller agree to cooperate in effecting such exchange; provided, however, that the exchanging
<br />party shall be responsible for all additional costs associated with such exchange, and provided further, that a non - exchanging party
<br />shall not assume any additional liability with respect to such tax - deferred exchange. Seller and Buyer shall execute such additional
<br />documents, at no cost to the non - exchanging party, as shall be required to give effect to this provision.
<br />Section 20. Memorandum of Contract: Upon request by either party, the parties hereto shall execute a memorandum of contract in
<br />recordable form setting forth such provisions hereof (other than the Purchase Price and other sums due) as either party may wish to
<br />incorporate. Such memorandum of contract shall contain a statement that it automatically terminates and the Property is released from
<br />any effect thereby as of a specific date to be stated in the memorandum (which specific date shall be no later than the date of Closing).
<br />The cost of recording such memorandum of contract shall be borne by the party requesting execution of same.
<br />Section 21. Authority: Each signatory to this Agreement represents and warrants that he or she has full authority to sign this
<br />Agreement and such instruments as may be necessary to effectuate any transaction contemplated by this Agreement on behalf of the
<br />party for whom he or she signs and that his or her signature binds such party.
<br />Pagel of 8
<br />Buyer Initials Seller Iruttals' r -� _ STANDARD FORM 580 -T
<br />Revised 7/2017
<br />07/2017
<br />Produced with zipFarm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 vAvw.zipLoaix.com mo ps- orange
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