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11 <br />(5) Seller's obligati ons under this Section shall survive the closing and <br />continue in full effect notwithstanding receipt of the purchase price. <br />(h) Representations/Warranties. All representations and warranties contained in this <br />Agreement are true and correct as of the date of execution of'this Agreement and will be true <br />as of the Closing Date and shalt survive closing and execution and delivery of the Deed and <br />shall not be merged therein. <br />4. SETTLEMENT CFIARGES: <br />(a) Seller shall pay for the preparation of a deed, for the preparation and recording <br />of all documents necessary to convey marketable fee simple title free of liens and <br />encumbrances, and for the excise tax required by law. <br />(b) Buyer shall pay for recording the deed. <br />(c) Ad valorem taxes on the Property, if any, for the calendar year in which the <br />closing occurs shall be paid by Seller. The credit for pro-rated ad valorem taxes on the <br />Property that would be due Seller if Buyer were not a North Carolina local government shall <br />be added to the purchase price as provided in Section 1 of this Agreement. Seller shall pay any <br />Orange County ad valorem taxes on personal property of Seller for the entire year of the <br />closing. Seller shall pay all deferred taxes and any tax penalties including late listing penalties. <br />(d) Seller shall procure the survey of the Property. Buyer shall pay Seller 80% of <br />the cost of the survey at closing and any other closing costs not itemized in paragraph 4. <br />5. CONDITIONS: <br />