Agenda 04-02-2019 6-b - Approval to Acquire Property at 509 Central Avenue, Hillsborough

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(the"Settlement Date"), unless otherwise agreed in writing,at a time and place designated by Buyer. (m)"Closing": The completion of the legal process which results in the transfer of title to the Property from Seller to Buyer,which includes the following steps: (1) the Settlement (defined above); (2) the completion of a satisfactory title update to the Property following the Settlement; (3) the closing attorney's receipt of authorization to disburse all necessary funds; and (4)recordation in the appropriate county registry of the deed(s) and deed(s) of trust, if any,which shall take place as soon as reasonably possible for the closing attorney after Settlement. Upon Closing, the proceeds of sale shall be disbursed by the closing attorney in accordance with the settlement statement and the provisions of Chapter 45A of the North Carolina General Statutes. If the title update should reveal unexpected liens, encumbrances or other title defects, or if the closing attorney is not authorized to disburse all necessary funds,then the Closing shall be suspended and the Settlement deemed delayed under Paragraph 13 (Delay in Settlement/Closing). WARNING: The North Carolina State Bar has determined that the performance of most acts and services required for a closing constitutes the practice of law and must be performed only by an attorney licensed to practice law in North Carolina. State law prohibits unlicensed individuals or firms from rendering legal services or advice. Although non-attorney settlement agents may perform limited services in connection with a closing, they may not perform all the acts and services required to complete a closing. A closing involves significant legal issues that should be handled by an attorney. Accordingly it is the position of the North Carolina Bar Association and the North Carolina Association of REALTORS®that all buyers should hire an attorney licensed in North Carolina to perform a closing. (n) "Special Assessments": A charge against the Property by a governmental authority in addition to ad valorem taxes and recurring governmental service fees levied with such taxes, or by an owners' association in addition to any regular assessment (dues),either of which may be a lien against the Property.A Special Assessment may be either proposed or confirmed. "Proposed Special Assessment": A Special Assessment that is under formal consideration but which has not been approved prior to Settlement. "Confirmed Special Assessment": A Special Assessment that has been approved prior to Settlement whether payable in a lump sum or future installments. NOTE: Any Proposed and Confirmed Special Assessments must be identified by Seller in paragraph 7(c), and Buyer's and Seller's respective responsibilities for Proposed and Confirmed Special Assessments are addressed in paragraphs 6(a)and 8(k). 2.FIXTURES AND EXCLUSIONS: (a)Specified Items:Unless identified in subparagraph(d)below,the following items,including all related equipment and remote control devices,if any,are deemed fixtures and shall convey,included in the Purchase Price free of liens: • Alarm and security systems(attached)for security,fire, • Invisible fencing with power supply,controls and receivers smoke,carbon monoxide or other toxins with all related • Landscape and outdoor trees and plants(except in moveable access codes,sensors,cameras,dedicated monitors,hard containers);raised garden;landscape and foundation drives,video recorders,power supplies and cables; lighting;outdoor sound systems;permanent irrigation doorbells/chimes systems and controls;rain barrels;landscape water features; • All stoves/ranges/ovens;built-in appliances;attached address markers microwave oven;vent hood • Mailboxes;mounted package and newspaper receptacles • Antennas;satellite dishes and receivers • Mirrors attached to walls,ceilings,cabinets or doors;all • Basketball goals and play equipment(permanently attached bathroom wall mirrors or in-ground) • Storage shed;utility building • Ceiling and wall-attached fans;light fixtures(including • Swimming pool(excluding inflatable);spa;hot tub existing bulbs) • Solar electric and solar water heating systems • Fireplace insert;gas logs or starters;attached fireplace • Sump-pumps,radon fans and crawlspace ventilators;de- screens;wood or coal stoves humidifiers that are permanently wired • Floor coverings(attached) • Surface-mounting brackets for television and speakers; • Fuel tank(s)whether attached or buried and including any recess-mounted speakers;mounted intercom system contents that have not been used,removed or resold to the . Water supply equipment,including filters,conditioning and fuel provider as of Settlement.NOTE: Seller's use,removal softener systems;re-circulating pumps;well pumps and or resale of fuel in any fuel tank is subject to Seller's tanks obligation under Paragraph 8(c)to provide working,existing . Window/Door blinds and shades,curtain and drapery rods utilities through the earlier of Closing or possession by and brackets,door and window screens and combination Buyer. doors,awnings and storm windows • Garage door openers with all controls • Generators that are permanently wired Page 3 of 16 STANDARD FORM 2-T Buyer's Initials Seller's Initials Revised 7/2018 ©7/2018