2019-248-E Housing - Kennon Craver legal services for 509 Central Ave

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DocuSign Envelope ID:25564DEE-41EF-45E7-80D8-212E6649AB56 (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, e Generators that are permanently wired smoke,carbon monoxide or other toxins with all related • Invisible fencing with power supply,controls and receivers access codes,sensors,cameras,dedicated monitors,hard . Landscape and outdoor trees and plants(except in moveable drives,video recorders,power supplies and cables; containers);raised garden;landscape and foundation doorbells/chimes lighting;outdoor sound systems;permanent irrigation . All stoves/ranges/ovens;built-in appliances;attached systems and controls;rain barrels;landscape water features; microwave oven;vent hood address markers • Antennas;satellite dishes and receivers e Mailboxes;mounted package and newspaper receptacles . Basketball goals and play equipment(permanently attached . Mirrors attached to walls,ceilings,cabinets or doors;all or in-ground) bathroom wall mirrors • Ceiling and wall-attached fans;light fixtures(including e Storage shed;utility building existing bulbs) . Swimming pool(excluding inflatable); spa;hot tub • Fireplace insert;gas logs or starters;attached fireplace e Solar electric and solar water heating systems screens;wood or coal stoves • Sump-pumps,radon fans and crawlspace ventilators; . Floor coverings(attached) de-humidifiers that are permanently wired . Fuel tank(s)whether attached or buried and including any e Surface-mounting brackets for television and speakers; contents that have not been used,removed or resold to the recess-mounted speakers;mounted intercom system fuel provider as of Settlement.NOTE: Seller's use,removal . Water supply equipment,including filters,conditioning and or resale of fuel in any fuel tank is subject to Seller's softener systems;re-circulating pumps;well pumps and obligation under Paragraph 8(c)to provide working,existing tanks utilities through the earlier of Closing or possession by . Window/Door blinds and shades,curtain and drapery rods Buyer. and brackets,door and window screens and combination • Garage door openers with all controls doors,awnings and storm windows os Page 3 of 13 STANDARD FORM 2-T Revised 7/2018 Buyer initials Seller initials ©7/2018 Produced with zipForm®by zipLogix 18070 Fifteen Mile Road,Fraser,Michigan 48026 www.z!pLoaix.com 509 Central