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10 <br />County P.I.N. 9854-30=5558 and has an Orange County <br />tax map reference of 3.50..7; and <br />The 22-acre portion of the 64.31-=acre tract of <br />land identified as on the~plat of property <br />titled " ," prepared by R.L.S., <br />which plat is recorded at Plat Book _, Page _, <br />Orange County Registry. The Property is ,further <br />identified as Orange County P.I.N.~9844-91-1497 and <br />has an Orange County tax map .reference of 3.45..14. <br />THE TERMS AND CONDITIaNS OF THIS AGREEMENT ARE AS FOLLOWS: <br />1.. PURCHASE PRICE: The purchase price for the Property <br />shall be FIVE HUNDRED THIRTY-EIGHT THOUSAND SEVEN HUNDRED FORTY <br />AND 00/100 DOLLARS ($538,740). The purchase price shall be paid <br />by payment in cash at the closing of $107,745 and the execution <br />of a promissory note secured by a first lien deed of trust on <br />the Property which promissory note will provide for the payment <br />of the balance of the purchase price in 20 quarterly <br />installments. The first installment of principal and interest <br />will be due on September 1, 2001. The subsequent installments of <br />principal and interest will be due on a quarterly basis as shown <br />on the amortization schedule attached hereto as Exhibit C. <br />Installment payments shall include interest on the unpaid <br />balance at the rate of 5.0~ per annum, per Exhibit C. Neither <br />the promissory note nor the deed of trust. will prohibit or <br />provide a penalty for prepayment of any amount of the unpaid <br />principal balance. The promissory note and deed of trust will be <br />2 <br />