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1 <br />in substantially the form of Exhibits A and B hereto <br />respectively. <br />2. TITLE: Title will be delivered :to Buyer at closing by <br />a General Warranty Deed made to the County of Orange, North <br />Carolina, which shall be fee simple marketable title, free of <br />liens, encumbrances, easements, restrictions, rights and <br />conditions, including, but not limited to, any promissory note, <br />mortgage, deed of trust, real estate contract, right of first <br />refusal, or option to buy, other than current property taxes and <br />rights, reservations, covenants, easements, conditions, and <br />restrictions of record as of the effective date of this <br />Agreement that do not materially affect the value of the <br />Property or unduly interfere with Buyer's intended use of the <br />Property, and those exceptions approved in writing by Buyer <br />("Permitted Exceptions"). <br />3. REPRESENTATIONS WARRANTIES AND COVENANTS OF SELLER: <br />Seller makes the following representations and warranties to <br />Buyer as of the effective date of this Agreement and again as of <br />the Closing Date: <br />(a) Title. At the Closing Date, Seller shall have good, <br />marketable, and indefeasible fee simple title to the Property <br />subject only to the Permitted Exceptions, and Seller is aware of <br />no other matters that adversely affect title to the Property. <br />(b) Leases. There are no leases, licenses, or other <br />3 <br />