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2016-723-E County Mgr - Kennon Craver title work
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2016-723-E County Mgr - Kennon Craver title work
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DocuSign Envelope ID: E6FC7E33-A4EC-41C3-8B93-87918EBF2937 <br /> EXHIBIT A <br /> BASIC SERVICES <br /> Kennon Craver, PLLC proposes to perform the following legal services for Orange County; <br /> Title Search& Title Insurance Application <br /> Orange County is considering purchasing twelve (12) parcels of real property located in <br /> Hillsborough, Orange County, North Carolina. The properties are identified on the attached GIS <br /> map by location and PIN (collectively the "Properties"). Kennon Craver will perform a title <br /> search on the Properties. If a prior title insurance policy can be located, then we will conduct a <br /> limited title update search. The update search will begin on the date a prior owner's title <br /> insurance policy was issued (the "Beginning Search Period"). In certain limited circumstances, <br /> the update search may begin on the date a prior lender's title insurance policy was issued. We <br /> will notify you in writing before updating title from a prior lender's title insurance policy. We <br /> will not review title documents prior to the Beginning Search Period and we will not identify title <br /> defects that occur prior to that date. However, assuming title is insurable; the County's <br /> ownership interest in the Properties will be insured against earlier title defects via the title <br /> insurance policy we will procure on behalf of the County. If a prior title insurance policy is not <br /> located, then we will conduct a full search of no less than 30 years. We will provide the County <br /> with a preliminary title opinion on forms prescribed by Investors Title Insurance Company <br /> containing the results of the title search in advance of the closing. We will also procure a title <br /> insurance policy for the purchase price if requested and if title is insurable. The County will be <br /> responsible for the payment of the title insurance premium, if any. <br /> Matters of zoning, environmental hazards and other due diligence matters not specifically <br /> addressed on this Exhibit A are not included in our scope of services. Zoning laws affect a <br /> variety of development issues such as setbacks, lot sizes and use requirements to name a few. <br /> Environmental hazards include, but are not limited to, the existence of radon gas, ]cad-based <br /> paint, underground storage tanks and asbestos. We recommend the County undertake zoning <br /> compliance reviews and environmental studies of each of the Properties prior to purchasing the <br /> same. <br /> If requested, we will prepare legal descriptions of the Properties based on surveys <br /> commissioned by the County. While new surveys may not be required for title insurance <br /> purposes, we recommend the County obtain surveys of the Properties. Surveys will reveal title <br /> defects such as encroachments, legal description gaps and overlaps and access issues not <br /> otherwise discoverable by us during the title search. <br /> Preliminary title research on the Properties indicates one or more of the Properties are <br /> likely to have significant title defects. Our title search will report the nature and extent of the <br /> known title defects discoverable from a search of the public records. It is possible that the nature <br /> and extent of the defects could prevent the County from obtaining good, marketable and <br /> insurable title to one or more of the Properties. Please be aware that curing title defects is <br /> beyond the scope of our engagement. <br />
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