Orange County NC Website
Browse       Search
DocuSign Envelope ID:49A6A196-6A44-4A46-B485-DEE51AODFBEA <br /> Legal Fees&Expenses <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 the County; (5) recording the documents listed above; and (6) conducting the closing on the <br /> purchase. Please be aware that additional work necessary to complete the closing, such as attempting to <br /> resolve significant title defects, significant work related to locating heirs or resolving estate issues related <br /> to the property in the chain of title, etc., may require work beyond the scope of this letter and cost in <br /> excess of the "not to exceed" fee listed below. In the event the County requires representation prior to <br /> closing or additional legal work not referenced in this letter becomes necessary, then we may perform <br /> such work at the County's specific request under an amendment to this agreement at our normal hourly <br /> 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 $1,500.00. 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 /> 3 <br />