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4011 university drive, suite 300, durham, nc 27707  post office box 51579, durham, nc 27717-1579 <br /> TELEPHONE 919 490 0500 FAX 919 490 0873  www.kennoncraver.com <br /> <br />of the payment of a claim given title insurers have a reasonable time to correct defects in title which the <br />insurer reasonably believes can be corrected. What constitutes a “reasonable time” depends upon the nature <br />of the defect. Assuming title is insurable, we will obtain a title insurance policy in the County’s favor in <br />the amount of the purchase price, if any. The County will be responsible for the payment of the title <br />insurance premium at closing if it elects to purchase a policy. <br /> <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 /> <br />Closing <br /> <br /> We will coordinate the exchange of closing documents with grantor’s counsel and record the <br />conservation easement. The County has prepared a draft of the conservation easement. We will prepare the <br />necessary legal description using the recorded subdivision plat. <br /> <br /> <br />II. WIRE INSTRUCTIONS & FRAUD NOTICE <br /> <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, IF WE ASSIST WITH A CLOSING, HAVE <br />BEEN PREVIOUSLY PROVIDED. BEFORE SENDING ANY WIRE, CALL OUR OFFICE AT <br />(919) 490-0500 TO VERIFY THE INSTRUCTIONS. WE WILL NOT CHANGE WIRING <br />INSTRUCTIONS. IF YOU RECEIVE WIRING INSTRUCTIONS FOR A DIFFERENT BANK, <br />BRANCH LOCATION, ACCOUNT NAME OR ACCOUNT NUMBER OTHER THAN THE <br />INSTRUCTIONS YOU HAVE ON FILE, THEY SHOULD BE PRESUMED FRAUDULENT. DO <br />NOT SEND ANY FUNDS AND CONTACT OUR OFFICE IMMEDIATELY. FAILURE TO <br />FOLLOW THIS PROCEDURE ENDANGERS YOUR FUNDS. <br /> <br />III. Billing & File Retention <br /> <br /> The flat fee for our services hereunder is $4,000.00. Any expenses, such as title insurance <br />premiums, third-party printing costs, recording fees, etc., will be billed directly to you. <br /> <br />Our billing statements are prepared and emailed to the address written above during the month <br />following the month in which services are rendered and costs advanced. Payment is due upon receipt of <br />invoice. If there is a closing, we reserve the right to collect remaining fees and expenses owed at closing. <br />We will both have the right to terminate our representation at any time. <br /> <br />The County’s obligation to pay our fees and costs incurred on your behalf is not contingent and is <br />not based on the consummation of any closing or the occurrence of any specific event or result. This means <br />Docusign Envelope ID: EF155D3A-376B-4129-8460-C34ADC70D6BD