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representatives, access to the Property for inspecting, surveying, planning, design, and fund raising <br />purposes. <br />D. If the Option is exercised, Seller shall convey marketable fee-simple title to the described portion of <br />the Property by a North Carolina General Warranty Deed, and this conveyance shall be subject to no <br />exceptions or encumbrances other than ad valorem taxes for the year of closing (which shall be <br />prorated between the parties to the date of closing), unviolated restrictive covenants and general <br />utility easements and rights-of-way of record which do not materially affect the value or Buyer’s <br />intended use of the Property, and applicable governmental ordinances and other regulations. The <br />Buyer shall be responsible for any necessary subdivision and costs directly associated with such <br />subdivision. The Seller shall execute and deliver at closing with respect to the Property a title <br />insurance lien waiver affidavit, and the Property shall be in substantially the physical condition at <br />closing as that which existed on the date this Option to Purchase Real Property was executed. Buyer <br />shall be responsible for the cost of recording the deed for the Property. Seller shall bear the cost of <br />preparing the deed and any other instruments and the cost of recording any instruments under the <br />terms of this Contract with respect to the Property. Buyer shall pay for the cost of any title <br />insurance Buyer elects to purchase. Seller shall pay for Seller’s reasonable attorneys’ fees incurred <br />in connection with the preparation of this Contract and the closing of the transactions contemplated <br />hereby. Seller shall pay for the cost of the deed stamps to be affixed to the deed. Seller shall pay <br />the cost of discharging any mortgage, lien, or title encumbrance other than those permitted <br />hereunder. All other fees and costs shall be paid by Buyer or Seller in accordance with generally <br />recognized local custom. <br /> <br />This Option is contingent upon and subject to the following terms and conditions: <br /> <br />1. Term. This Option shall commence on the date the Seller signature upon this document and <br />continue until 5:00 P.M. EST on June 30, 2025. Should Buyer purchase the Property the <br />consideration payment shall be credited toward the purchase price. <br /> <br />2. Exercise. At any time during the Option period, Buyer may exercise this Option by hand delivery or <br />deposit of written notice by certified or registered mail, returned receipt requested, to Seller at <br />address above. <br /> <br />3. Price. If Buyer notifies Seller of its intent to exercise its Option, then the agreed upon price of the <br />Property shall be determined by the appraisal, and approval of such by the North Carolina State <br />Property Office, as required by the NC Land and Water Fund grant program policies. The agreed <br />upon price of the Property shall not exceed Four Hundred Thirty Eight Thousand Dollars <br />($438,000.00). <br /> <br />4. Closing. If the Option is exercised by the Buyer as provided in paragraph 2 above, the sale of the <br />described portion of the Property shall occur at a closing which shall be held at a time and place <br />designated by Buyer, but in any event within sixty (60) days after the date of the Option Exercise <br />Notice. <br /> <br />5. Board Approval. Purchase and Exercise of the Option is subject to and may not occur without <br />approval by the Board of County Commissioners of Orange County. <br />DocuSign Envelope ID: B1CCE80F-1012-473E-B004-40D81BB4FFB9