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25 <br /> Exhibit B <br /> ESCROW ADDENDUM <br /> This Escrow Addendum dated (this"Addendum"),is hereby made a part of that certain <br /> Purchase and Sale Contract having an Effective Date of (the "Sales Contract"), by and <br /> between CAPKOV VENTURES, INC. as seller thereunder ("Seller"), and ORANGE COUNTY, NC as <br /> purchaser thereunder ("Purchaser"). Investors Title Insurance Company, a North Carolina corporation <br /> ("Escrow Agent"), has executed this Addendum for the sole purpose of consenting to the terms of this <br /> Addendum. <br /> Required SELLER Information: Required PURCHASER Information: <br /> Tax ID: Tax ID: <br /> Mailing address: 258 E. Winmore Avenue, Chapel Mailing address: 300 West Tryon Street, <br /> Hill,North Carolina 27516 Hillsborough,North Carolina 27278 <br /> Attn: Eric Chupp Attn: Travis Myren <br /> Telephone: 919.260.7262 Telephone: 919.245.2300 <br /> Email: ericbchupp(iDbellsouth.net Email: tmyrenkoran e_ c�ountync.gov <br /> WHEREAS, Seller and Purchaser desire that the closing of the transaction contemplated by the Sales <br /> Contract take place in accordance with the terms and provisions of this Addendum. <br /> WHEREAS, pursuant to Section 2_3 of the Sales Contract, Purchaser and Seller have appointed <br /> Investors Title Insurance Company to hold earnest money in the amount of$25,000.00 (the "Escrowed <br /> Funds"),which sum will be held in accordance with the terms of this Addendum and the Sales Contract. <br /> NOW,THEREFORE,in furtherance of the transaction contemplated by the Sales Contract,and for and <br /> in consideration of $300.00 cash paid in hand to Escrow Agent, and for other good and valuable <br /> consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby <br /> covenant and agree as follows: <br /> 1. Seller and Purchaser hereby designate, constitute and appoint Investors Title Insurance Company <br /> as Escrow Agent under this Addendum to hold Escrowed Funds, and Escrow Agent accepts such <br /> designation and appointment, and agrees to act in accordance with the terms of this Addendum. It <br /> is hereby expressly understood and agreed that in the event a conflict should arise as between the <br /> terms of this Addendum and those of the Sales Contract,the terms of this Addendum will control. <br /> 2. Notwithstanding any provisions regarding interest in the Sales Contract, Purchaser and Seller <br /> hereby request that the Escrowed Funds(select ONE option;if neither is selected,the second option <br /> below will be deemed selected): <br /> ® accrue interest to the benefit of Purchaser [insert Purchaser or Seller] (if left blank, <br /> Purchaser will be beneficiary, in accordance with 26 CFR§ 1.46813-7). <br /> ❑ do not accrue interest to the benefit of Purchaser/Seller. <br /> 3. All checks, money orders, wires or drafts sent to Escrow Agent under this Addendum will be <br /> processed for collection in the normal course of business.Escrow Agent will deposit the Escrowed <br /> Funds in a segregated savings account with a federally-insured banking institution. All funds <br />