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DocuSign Envelope ID:CD169865-6COD-4DOE-83C1-88ACC925BFB8 <br /> obtain a title insurance policy in favor of the buyer in the amount of the purchase price. Buyer will be <br /> responsible for the payment of the title insurance premium at closing. <br /> Please be aware that due diligence matters of property condition,zoning,and environmental matters <br /> are not included in a standard title search or our legal services for this engagement. We do not provide any <br /> opinion as to the environmental condition of the Property or permitted uses under current zoning <br /> regulations. Please notify me immediately if you require additional information or assistance concerning <br /> these issues. Zoning laws affect setbacks and use requirements to name a few. Environmental hazards <br /> include, but are not limited to,the existence of radon gas, lead-based paint,underground storage tanks, and <br /> asbestos. We will assist in ordering a zoning compliance letter/report and introduce you to a property <br /> inspection and environmental engineer upon request. <br /> We recommend you commission a new ALTA survey during the inspection period to inform your <br /> ultimate purchase decision. An ALTA survey will generate a new legal description and may show title <br /> encumbrances and defects such as setback violations, existing encroachments onto or from neighboring <br /> properties, legal description gaps and overlaps, and other matters"on the ground"that would not otherwise <br /> be discovered during our title search of the public records. Your title insurance policy will include an <br /> exception to matters that would be shown on a survey if buyer does not obtain a new survey and there is no <br /> existing survey that satisfied the insurer's requirements. Please let us know if you would like us to request <br /> quotes for survey work related to this transaction. <br /> II. WIRE INSTRUCTIONS& FRAUD NOTICE <br /> WIRE FRAUD IS PREVALENT IN REAL ESTATE TRANSACTIONS. <br /> SOPHISTICATED SCAMS INVOLVING FAKE EMAILS, PHONE CALLS, AND OTHER <br /> FRAUDULENT CONTACTS PUT YOUR MONEY AT RISK. OUR TRUST ACCOUNT WIRE <br /> INSTRUCTIONS TO BE USED FOR CLOSING ARE ATTACHED TO THIS MEMO. BEFORE <br /> SENDING ANY WIRE, CALL OUR OFFICE AT (919) 490-0500 TO VERIFY THE <br /> INSTRUCTIONS. WE WILL NOT CHANGE WIRING INSTRUCTIONS. IF YOU RECEIVE <br /> WIRING INSTRUCTIONS FOR A DIFFERENT BANK, BRANCH LOCATION, ACCOUNT <br /> NAME OR ACCOUNT NUMBER OTHER THAN THE INSTRUCTIONS YOU HAVE ON FILE, <br /> THEY SHOULD BE PRESUMED FRAUDULENT.DO NOT SEND ANY FUNDS AND CONTACT <br /> OUR OFFICE IMMEDIATELY. FAILURE TO FOLLOW THIS PROCEDURE ENDANGERS <br /> YOUR FUNDS. <br /> IIl. Billing&File Retention <br /> We consider many factors in billing for services rendered, and I will review all statements before <br /> they are issued to ensure that the amount charged is appropriate. The principal factor is usually our schedule <br /> of hourly rates;most statements are simply the product of the hours worked multiplied by the hourly rates <br /> for the attorneys and legal assistants who did the work. <br /> Our schedule of hourly rates for attorneys and other members of the professional staff are based on <br /> years of experience,specialization in training and practice,and level of professional attaimnent. My hourly <br /> rate for 2022 is$350. However,I will perform work on this matter at a discounted hourly rate of$275 per <br /> hour. We will manage your matter as cost efficiently as possible. To the extent that other paralegals and <br /> attorneys are involved,their rates vary from $150 to $400 an hour. However, no attorney rates exceeding <br /> $275 will apply We reserve the right to adjust our rates for subsequent years. In addition,we will bill and <br /> 4011 university drive,suite 300,durham,tic 27707 •post office box 51579,durham,tic 2 7 71 7-15 79 <br /> TELEPHONE 919 490 0500 FAX 919 490 0873 •iviviv.kennoncraver.com <br />