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7 <br />is identified as Orange County P.I.N. 9871-51-8295, Orange County tax map <br />7.19.,24. <br />THE TERMS AND CONDITIONS OF THIS AGREEMENT ARE AS FOLLOWS: <br />1. PURCHASE PRICE: The purchase price for the Property shall be ONE <br />MILLION TWO HUNDRED SIXTY THOUSAND FIVE HUNDRED AND 00/100 <br />DOLLARS ($1,260,500) plus any amount due Seller as the result of the calculation made in <br />Section 4(c) of this Agreement. The purchase price shall be paid at the closing. <br />2. TITLE: Title will be delivered to Buyer at closing by a General Warranty Deed <br />from Julia M. Blackwood, made to Orange County, North Carolina, which shall be fee simple <br />marketable title, free of liens, encumbrances, easements, restrictions, rights and conditions, <br />including, but not limited to, any promissory note, mortgage, deed of trust, real estate <br />contract, right of first refusal, or option to buy, other than current property taxes and rights, <br />reservations, covenants, easements, conditions, and restrictions of record as of'the effective <br />date of this Agreement that do not materially affect the value of the Property or unduly <br />interfere with Buyer's i ntended use of the Property, which exceptions must be approved in <br />writing by Buyer ("Permitted Exceptions "). The deed conveying the Property shall be on a <br />North Carolina Bar form General Warranty Deed. The Property description in the deed shall <br />conform to the survey of the Property to be prepared as prescribed in paragraph 4(a) of this <br />Agreement. <br />3. REPRESENTATIONS WARRANTIES AND COVENANTS OF SELLER: <br />Seller makes the following representations and warranties to Buyer as of the effective date of <br />this Agreement and again as of the Closing Date: <br />(a) Title. At the Closing Date, Seller shall have good, marketable, and indefensible <br />