2016-723-E County Mgr - Kennon Craver title work

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DocuSign Envelope ID: E6FC7E33-A4EC-41C3-8B93-87918EBF2937 Contract Preparation We understand the County will negotiate the terms of a potential purchase agreement for the Properties directly. We will not be involved in the negotiation or preparation of the purchase agreement. Closing Should the County move forward with the purchases following its due diligence, we will conduct a single closing for the purchase of the Properties. The closing can occur in our offices or another location that works better for the County. 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 deed(s) in the office of the Orange County Register of Deeds and prepare a final title opinion and deliver the same to Investors Title for issuance of the title insurance policy, if any. Leg,al Fees & Expenses This engagement is specifically limited to: (1) performing the title searches outlined herein; (2) preparing the title opinions; (3) procuring title insurance, if available; (4) disusing any title issues discovered during the title search with the County; and (6) conducting the closing, if requested. Please be aware that additional work necessary to complete the closing, such as attempting to resolve significant title defects, may require work beyond the scope of this letter and in excess of the "not to exceed" amount listed below. In the event the County requires representation prior to closing or additional legal work not referenced in this letter becomes necessary(such as work associated with clearing any title defects), then I will perform such work at the County's specific request under an amendment to this agreement at our normal hourly rates. Our fees for performing the legal work outlined herein are as follows: (1) $85.00 dollars per hour for the services of my firm's real estate paralegal who will collect the necessary documents from the office of the Register of Deeds and otherwise assist me with this matter; and (2) $225.00 per hour for all work performed by Kennon Craver attorneys which represents a local government discount from Brian Ferrell's standard hourly rate of$265,00. We estimate the legal fees for each title search to be between $600-$1,000 excluding title insurance premiums. The fees due under this agreement will not exceed $12,000.00. We will begin work on this transaction as soon as I received an executed copy of the associated Services Agreement from the County. Please understand that we must charge for all work performed even if this transaction fails for any reason.