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12 <br /> insurance in order to obtain the Loan.(viii) Utilities and Access: Availability, quality, and obligations for maintenance of <br /> utilities including water, sewer, electric, gas, communication services, stormwater management, and means of access to the <br /> Property and amenities. <br /> (ix)Streets/Roads:Investigation of the status of the street/road upon which the Property fronts as well as any other street/road <br /> used to access the Property, including: (1)whether any street(s)/road(s)are public or private, (2)whether any street(s)/road(s) <br /> designated as public are accepted for maintenance by the State of NC or any municipality,or(3)if private or not accepted for <br /> public maintenance, the consequences and responsibility for maintenance and the existence, terms and funding of any <br /> maintenance agreements. <br /> (x)Fuel Tank: Inspections to determine the existence,type and ownership of any fuel tank located on the Property. <br /> NOTE: Buyer is advised to consult with the owner of any leased fuel tank regarding the terms under which Buyer may lease <br /> the tank and obtain fuel. <br /> (c)Repair/Improvement Negotiations/Agreement: Buyer acknowledges and understands that unless the parties agree otherwise, <br /> THE PROPERTY IS BEING SOLD IN ITS CURRENT CONDITION. Buyer and Seller acknowledge and understand that they <br /> may, but are not required to, engage in negotiations for repairs/improvements to the Property. Buyer is advised to make any <br /> repair/improvement requests in sufficient time to allow repair/improvement negotiations to be concluded prior to the expiration of <br /> the Due Diligence Period. Any agreement that the parties may reach with respect to repairs/improvements shall be considered an <br /> obligation of the parties and is an addition to this Contract and as such, must be in writing and signed by the parties in accordance <br /> with Paragraph 20. <br /> NOTE: See Paragraph 8(c),Access to Property and Paragraph 8(m),Negotiated Repairs/Improvements. <br /> (d)Buyer's Obligation to Repair Damage:Buyer shall,at Buyer's expense,promptly repair any damage to the Property resulting <br /> from any activities of Buyer and Buyer's agents and contractors, but Buyer shall not be responsible for any damage caused by <br /> accepted practices either approved by the N.C. Home Inspector Licensure Board or applicable to any other N.C. licensed <br /> professional performing reasonable appraisals,tests, surveys, examinations and inspections of the Property. This repair obligation <br /> shall survive any termination of this Contract. <br /> (e)Indemnity:Buyer will indemnify and hold Seller harmless from all loss,damage,claims,suits or costs,which shall arise out of <br /> ent or injury to an person or roe as a result of an activities of Buyer and Buyer's agents and <br /> any contract, agreement, fury y p property rty y <br /> contractors relating to the Property except for any loss, damage, claim, suit or cost arising out of pre-existing conditions of the <br /> Property and/or out of Seller's negligence or willful acts or omissions. This indemnity shall survive this Contract and any <br /> termination hereof. <br /> (f)Buyer's Right to Terminate: Buyer shall have the right to terminate this Contract for any reason or no reason,by delivering to <br /> Seller written notice of termination (the "Termination Notice") during the Due Diligence Period (or any agreed-upon written <br /> extension of the Due Diligence Period), TIME BEING OF THE ESSENCE. If Buyer timely delivers the Termination Notice,this <br /> Contract shall be terminated and the Earnest Money Deposit shall be refunded to Buyer. <br /> (g) CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION <br /> UNLESS PROVISION IS OTHERWISE MADE IN WRITING. <br /> 5.BUYER REPRESENTATIONS: <br /> (a) Loan: Buyer ❑ does ❑ does not intend to obtain a new loan in order to purchase the Property. If Buyer is obtaining a new <br /> loan,Buyer intends to obtain a loan as follows: ❑ FHA❑ VA(attach FHANA Financing Addendum) ❑ Conventional ❑ Other: <br /> loan at a❑ Fixed Rate ❑ Adjustable Rate in the principal amount of <br /> plus any financed VA Funding Fee or FHA MIP for a term of year(s), at an initial <br /> interest rate not to exceed %per annum(the"Loan"). <br /> NOTE:Buyer's obligations under this Contract are not conditioned upon obtaining or closing any loan. <br /> NOTE: If Buyer does not intend to obtain a new loan, Seller is advised,prior to signing this offer,to obtain documentation from <br /> Buyer which demonstrates that Buyer will be able to close on the Property without the necessity of obtaining a new loan. <br /> (b) Other Property: Buyer ❑ does ❑ does not have to sell or lease other real property in order to qualify for a new loan or to <br /> complete the purchase. <br /> NOTE: This Contract is not conditioned upon the sale of Buyer's property unless a contingent sale addendum such as Standard <br /> Form 2A2-T is made a part of this Contract. <br /> (c) Performance of Buyer's Financial Obligations: To the best of Buyer's knowledge, there are no other circumstances or <br /> Page 5 of 16 <br /> STANDARD FORM 2-T <br /> Buyer's Initials Seller's Initials Revised 7/2018 <br /> 0 7/2018 <br />