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DocuSign Envelope ID: D723FFOF-9894-4280-9F89-4CFA76F281FF <br /> tacked. Therefore, absent your timely objection,we will determine if title insurance coverage exists on the <br /> Property and, if so, have the public records examined only from the date of that coverage to the present. <br /> In other words absent your timely objection, we will "tack"to that existing policy of title insurance. This <br /> procedure will enable us to keep the County's costs to a minimum while, at the same time, providing full <br /> title insurance coverage for the County. You should be advised that title insurance, while a valuable <br /> insurance coverage, does not cover any and all damage that may arise from a title defect. Title insurance <br /> also does not necessarily provide immediate relief in the form of the payment of a claim given title <br /> insurers have a reasonable time to correct defects in title which the insurer reasonably believes can be <br /> corrected. What constitutes a"reasonable time" depends upon the nature of the defect. Assuming title is <br /> insurable, we will obtain a title insurance policy in favor of the County in the amount of the purchase <br /> price for the Easement. The County will be responsible for the payment of the title insurance premium at <br /> closing. <br /> Please be aware that matters of zoning and environmental matters are not included in a standard <br /> title search. We, as closing attorneys, do not provide any opinion as to the environmental condition of the <br /> Property. Please notify me immediately if the County requires additional information or assistance <br /> concerning these two issues. Zoning laws affect setbacks and use requirements to name a few. <br /> Environmental hazards include, but are not limited to, the existence of radon gas, lead-based paint, <br /> underground storage tanks and asbestos. <br /> We will prepare a legal description of the Property based on the County's survey, if any. If the <br /> County does not prepare a survey for this transaction the legal description will be based on the deed(s) <br /> into the current owner. The County will make payment arrangements directly with the surveyor. The <br /> legal description will be used to describe the Property in the Warranty Deed of Conservation Easement <br /> (the "Easement Deed"). I understand that the County does not require our assistance with negotiating or <br /> drafting the Easement Deed, so the preparation of that document is not included in the scope of our <br /> engagement. <br /> Closing <br /> We will conduct the closing on the Easement. The closing can occur in our offices or another <br /> location that works better for the parties. The County agrees to wire the closing funds into my trust <br /> account prior to the closing. We will make every effort to provide the County with a draft of the <br /> settlement statement no less than 24 hours prior to the closing date. Following the closing,we will update <br /> title and record the new plat and Easement Deed in the office of the Register of Deeds and prepare a final <br /> title opinion and deliver the same to the title company for issuance of the title insurance policy. <br /> Wire Instructions <br /> THE COUNTY HAS OUR TRUST ACCOUNT WIRING INSTRUCTIONS ON FILE. <br /> BEFORE SENDING ANY WIRE, CALL OUR OFFICE AT (919) 490-0500 TO VERIFY THE <br /> INSTRUCTIONS. WE WILL NOT CHANGE WIRING INSTRUCTIONS. IF YOU RECEIVE <br /> WIRING INSTRUCTIONS FOR A DIFFERENT BANK, BRANCH LOCATION, ACCOUNT <br /> NAME OR ACCOUNT NUMBER OTHER THAN THE INSTRUCTIONS YOU HAVE ON FILE, <br /> THEY SHOULD BE PRESUMED FRAUDULENT. DO NOT SEND ANY FUNDS AND <br /> CONTACT OUR OFFICE IMMEDIATELY. FAILURE TO FOLLOW THIS PROCEDURE <br /> ENDANGERS YOUR FUNDS. <br /> Legal Fees &Expenses <br /> KC: 367198.1 <br />