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7 <br /> LAND: The land containing approximately 5 acres located on Waterstone <br /> Drive, Hillsborough, NC and being portions of the property having <br /> Orange County PINS 9873422375, 9873425271, 9873425076, <br /> 9873415972,9873416716,and 9873510737,as shown on Exhibit A, <br /> together with all privileges,rights and easements appurtenant to that <br /> land. <br /> PURCHASE PRICE: $1,350,000.00 <br /> SELLER: Capkov Ventures, Inc. <br /> 112 Milton Street <br /> Chapel Hill,North Carolina 27514 <br /> Attn: Eric Chupp <br /> Tel: 919.260.7262 <br /> Email: ericbchuppnbellsouth.net <br /> SELLER'S COUNSEL: Beemer,Hadler and Willett PA <br /> 1829 East Franklin Street, Suite 800B <br /> Chapel Hill,North Carolina 27514 <br /> Attn: Wayne Hadler <br /> Tel: whadler(&bhcwlaw.com <br /> Email: 919.929.0391 <br /> 1.2 Additional Defined Terms. <br /> 1.2.1 "Applicable Laws"means all statutes, codes, laws, ordinances, orders, rules and <br /> regulations of any governmental authority applicable to the Property, including those relating to zoning, <br /> subdivision,construction and land use. <br /> 1.2.2 "Bankruptcy Code"means Chapter 11 of the United States Code. <br /> 1.2.3 "Closing"is defined in Section 2.4. <br /> 1.2.4 "Declaration"is defined in Section 6.2. <br /> 1.2.5 "Declaration Delivery Date"is defined in Section 6.2. <br /> 1.2.6 "Deed"is defined in Section 7.1.1. <br /> 1.2.7 "Easements"is defined in Section 6.3. <br /> 1.2.8 "Easement Delivery Date"is defined in Section 6.3. <br /> 1.2.9 "Environmental Laws"means all present and future federal,state and local laws, <br /> statutes,regulations,rules, ordinances and common law, and all judgments, decrees, orders, agreements or <br /> permits, issued, promulgated, approved or entered thereunder by any government authority relating to <br /> pollution or Hazardous Materials or protection of human health or the environment, including the <br /> Comprehensive Environmental Response, Compensation and Liability Act(CERCLA), as amended. <br /> 1.2.10 "Extension Deposit"is defined in Section 2.5. <br /> 2 <br />