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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 />4904-9926-0544, v. 2 <br />the County in the amount of the purchase price. The County will be responsible for the payment of the title <br />insurance premium at closing. <br /> <br />Please be aware that matters of zoning and environmental matters are not included in a standard <br />title search. We do not provide any opinion as to the environmental condition of the Property or if it <br />complies with current zoning ordinances. Zoning laws affect setbacks and use requirements to name a few. <br />Environmental hazards include, but are not limited to, the existence of radon gas, lead-based paint, <br />underground storage tanks and asbestos. We recommend the County obtain a Phase I Environmental Site <br />Assessment prior to closing to identify any recognized environmental conditions in connection with the <br />Property. We also recommend the County obtain a zoning compliance letter and all other required <br />development approvals from the applicable jurisdiction prior to closing. Please notify me immediately if <br />the County requires additional information or assistance concerning these issues. <br /> <br />We also recommend the County commission a new ALTA Survey of the Property prior to closing. <br />A new subdivsion plat will be required if the Property is subdivided from a larger tract. The survey will <br />show encroachments, boundary issues, title gaps/overlaps, and other matters on the ground that are not <br />discoverable during our title search of the public records. The County’s title insurance policy will not <br />provide coverage for title defects that would otherwise be shown on a survey unless a new survey is <br />conducted. <br /> <br />Closing Document Preparation & Recording <br /> <br />We will conduct the closing on the purchase of the Property and prepare the usual and customary <br />documents related thereto. Following the closing, we will update title and record the deed and other <br />recordables in the office of the Register of Deeds and prepare a final title opinion and deliver the same to <br />the title company for issuance of the title insurance policy. <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 /> 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 />Docusign Envelope ID: 2FB408C2-A133-4231-B923-EB780761BDEB