Orange County NC Website
DocuSign Envelope ID:AD3D71E3-3E21-4890-A1D9-637348E1F3B5 <br /> This engagement is specifically limited to: (1) performing the title search; (2) preparing the title <br /> opinion; (3)procuring title insurance (if available); (4)disusing any title issues discovered during the title <br /> search with you; (5) recording the documents listed above; (6)preparing the settlement statement and (7) <br /> conducting the closing. Please be aware that additional work necessary to complete the closing, such as <br /> attempting to resolve significant title defects, significant work related to locating heirs or resolving estate <br /> issues related to the property in the chain of title, etc., may require work beyond the scope of this letter <br /> and cost in excess of the fee listed below. In the event the County requires representation prior to closing <br /> or additional legal work not referenced in this letter becomes necessary (such as work associated with <br /> clearing any title defects and resolving estate issues), then we may perform such work at the County's <br /> specific request under an amendment to this agreement at our normal hourly rates. <br /> We will bill the County at a discounted hourly rate of$250 for time spent by firm attorneys on <br /> the Transaction and $110 per hour for time spent by paralegals on the Transaction. Our legal fees for <br /> performing the legal work outlined herein will not exceed $6,000.00. We may bill the County on an <br /> interim basis or collect all fees due at closing depending on the circumstances of the Transaction. <br /> Payments of fees and costs are due within 30 days of the County's receipt of our invoice if we bill the <br /> County on an interim basis. In addition to the foregoing hourly fees, the County will be responsible for <br /> payment of any expenses incurred by our firm in connection with the closing such as express mail <br /> charges, and wire fees each and all of which will be set out on the settlement statement at closing. The <br /> County will also be responsible for other typical costs of closing including, but not limited to, recording <br /> fees and survey expenses. Please understand that we must charge for all work performed even if this <br /> transaction fails for any reason. <br /> Please do not hesitate to contact me with any questions or concerns regarding this letter. I look <br /> forward to working with you on this transaction. <br /> Sincerely, <br /> /Brian M. Ferrell/ <br /> FOR THE FIRM <br /> KC: 367198.1 <br />