Orange County NC Website
Browse       Search
11 <br /> (b)Items Leased or Not Owned: Any item which is leased or not owned by Seller, such as fuel tanks, antennas, satellite dishes and <br /> receivers, appliances, and alarm and security systems must be identified here and shall not convey: <br /> (c) Other Fixtures/Unspecified items: Unless identified in subparagraph (d) below, any other item legally considered a fixture is <br /> included in the Purchase Price free of liens. <br /> (d)Other Items That Do Not Convey:The following items shall not convey(ident those items to be excluded under <br /> subparagraphs(a)and(c)): <br /> Seller shall repair any damage caused by removal of any items excluded above. <br /> 3.PERSONAL PROPERTY:The following personal property shall be transferred to Buyer at no value at closing: <br /> NOTE: Buyer is advised to consult with Buyer's lender to assure that the Personal Property items listed above can be included in this <br /> Contract. <br /> 4.BUYER'S DUE DILIGENCE PROCESS: <br /> WARNING: BUYER IS STRONGLY ENCOURAGED TO CONDUCT DUE DILIGENCE DURING THE DUE <br /> DILIGENCE PERIOD. If Buyer is not satisfied with the results or progress of Buyers' Due Diligence, Buyer should terminate <br /> this Contract, PRIOR TO THE EXPIRATION OF THE DUE DILIGENCE PERIOD, unless Buyer can obtain a written extension <br /> from Seller. SELLER IS NOT OBLIGATED TO GRANT AN EXTENSION. Although Buyer may continue to investigate the <br /> Property following the expiration of the Due Diligence Period,Buyer's failure to deliver a Termination Notice to Seller.prior to the <br /> expiration of the Due Diligence Period will constitute a waiver by Buyer of any right to terminate this Contract based on any matter <br /> relating to Buyer's Due Diligence. Provided however, following the Due Diligence Period, Buyer may still exercise a right to <br /> terminate if Seller fails to materially comply with any of Seller's obligations under Paragraph 8 of this Contract or for any other <br /> reason permitted under the terms of this Contract or North Carolina law. <br /> (a)Loan:Buyer,at Buyer's expense,shall be entitled to pursue qualification for and approval of the Loan if any. <br /> NOTE: Buyer's obligation to purchase the Property is not contingent on obtaining a Loan. Therefore,Buyer is advised to consult <br /> with Buyer's lender prior to signing this offer to assure that the Due Diligence Period allows sufficient time for the appraisal to be <br /> completed and for Buyer's lender to provide Buyer sufficient information to decide whether to proceed with or terminate the <br /> transaction. <br /> (b)Property Investigation:Buyer or Buyer's agents or representatives,at Buyer's expense,shall be entitled to conduct all desired <br /> tests, surveys, appraisals, investigations, examinations and inspections of the Property as Buyer deems appropriate, including but <br /> NOT limited to the following: <br /> (i)Inspections: Inspections to determine the condition of any improvements on the Property,the presence of unusual drainage <br /> conditions or evidence of excessive moisture adversely affecting any improvements on the Property,the presence of asbestos <br /> or existing environmental contamination, evidence of wood-destroying insects or damage therefrom, and the presence and <br /> level of radon gas on the Property. <br /> (ii)Review of Documents: Review of the Declaration of Restrictive Covenants, Bylaws,Articles of Incorporation,Rules and <br /> Regulations, and other governing documents of any applicable owners' association and/or subdivision. If the Property is <br /> subject to regulation by an owners' association, it is recommended that Buyer review the completed Residential Property and <br /> Owners'Association Disclosure Statement provided by Seller prior to signing this offer.It is also recommended that the Buyer <br /> determine if the owners' association or its management company charges fees for providing information required by Buyer's <br /> lender or confirming restrictive covenant compliance. <br /> (iii)Insurance: Investigation of the availability and cost of insurance for the Property. <br /> (iv)Appraisals:An appraisal of the Property. <br /> (v) Survey: A survey to determine whether the property is suitable for Buyer's intended use and the location of easements, <br /> setbacks,property boundaries and other issues which may or may not constitute title defects. <br /> (vi) Zoning and Governmental Regulation: Investigation of current or proposed zoning or other governmental regulation <br /> that may affect Buyer's intended use of the Property, adjacent land uses, planned or proposed road construction, and school <br /> attendance zones. <br /> (vii) Flood Hazard: Investigation of potential flood hazards on the Property, and/or any requirement to purchase flood <br /> Page 4 of 16 <br /> STANDARD FORM 2-T <br /> Buyer's Initials Seller's Initials Revised 7/2018 <br /> ©7/2018 <br />