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BK 6910 PG 985 DOC# 30131511 8
<br /> EXHIBIT A
<br /> Those certain premisas COMOSing a portion of 140 Wcat Franklin Coadomirttum(the-Condominium"),said Condo "Itim baving
<br /> boat astabInhed under Chapter 47C of the Noah Carotins Ooneral Statutes(the"North Carolina,Condominium Act')and the
<br /> Declaration of Condominium dated May 1,2013,and se=rded on May 1,2013,in Book 5596,Page 476,Grange County Registry,
<br /> North Carotins,as amended in Book 5626,Page 290,Book 5883,Page 8,Book 6119,Page 65,Book 6371,Page 315,Book 6482,
<br /> Pago 74,Book 6767,Page 1959,and Book 6820,Pago 468,Orange,Couaty Registry,North Carollna,(the"Dooluadon"),as amended,
<br /> the premises hereby oonveyad being tram particularly described to follows:
<br /> 1, Unit No.224 in the Condorninium(the"Unit"),as dombed In the Dealantion and as shown on the Plan
<br /> of Condominium which is recorded in Condominium Plat Book 111,at Pages 63-75,and Condomtnttmn Plat Book 11 S,Pages
<br /> 153.161,Orange County Registry(colkWVCly,the'TIW)together with parking spaco(s)61,allocated as a limited common element
<br /> to the Unit as shown on Exhibit C-1 to the Declaration.
<br /> 2, An undivided 0.45%Allocated Interest appurtenant to the Unit in all Commit Eleoteats of the
<br /> Condomdnitmrr,including the buildings and the improves mts on the land described in the Declaration and as shown on the Plan;
<br /> Together with the right of ingr053 to and egress from said propertyand the right to use,for all purposes,in common with the(}rentor,
<br /> its successors and assigns,and ail other occupants form tinny to tine,any and all portions of 140 West Fratt1r33n Condominium
<br /> designated by the DCelaratian as"Common$lemenS.`
<br /> Together with ail right,title and interest to the tmdtd*g fce simple interest in the Unit,the Limited Common Elements allocated to it,
<br /> and its allacated iotarrst in the Common MICU tits pursuant to that oestrin purchs.9e option under the Ground Lease,as ddaod herein,
<br /> w-hkh if oxtrolsed,will be exercistd by the 140 West Franklin Condominium Association,Inc.(the"Association")for the benefit of
<br /> all of the then owners of the Units of the Condominium,and be evidenced by it deed form the Tows of Chapel Hill,or Its wMessars
<br /> and assigns,to said then unit owners and rocordcd in the Orange County Registry,At the time the Town exeotes and delivers such
<br /> deed,(a)the then owner of the unit hereby convayed shall automallcally be deemed the fee simple owner of such Unit,the Limited
<br /> Common Elements allocated theme,and the Unit's Allocated Interest in the Common Elements,subject to the Declaration;and(b)the
<br /> Ground Lease span be daemod to have merged by operation of Law and be terminated.
<br /> The Unit herein conveyed is intended for mideatial uses.This assignment is subjtrt to the Ground Least,easements,restrictions,
<br /> rights-of-way and other matters of record,to ad valorem taxes for the curtoat year.and to tho reservedons,ftatricdoas on use and ail
<br /> covenants and obligations sot forth in the Dtclarstion and in the,Articles of Incorpwalion and Bylaws of the Associadom AJ)of the
<br /> abow-deaeribed restrictions,psyments of charges and all other covenants,agreements,obligations,conditions and provisions ars
<br /> incorporated in dais Deed by teferorm and constitute and shall constitute covenants running with the tend,equitable servitudes and
<br /> liens to the extent set forth in said doeumonts and provided by law.Grantee,bislherlits heirs,suoce3 n and assigns,by accepting this
<br /> Deed,hereby exprmly assume and agree to ba bound by and comply with all of the covenants,terms,provisions and conditions set
<br /> forth in this Dowd,ion the Declaration and in the Articlea of Incorporation,Bylaws and Rules and Regulations made thereuodcr,
<br /> including,but not limiled to,the obligation to make payment of assessments for the maintenance and operation of the Condominium
<br /> rad the Common Elements,which assessments may be levied against the Unit.
<br /> In the event Granter is fully or pafitally exempt from the requirement to pay ad valorem pro"taxes,Granth shall make payments
<br /> to the Town of Chap:1 Hill an an annual basis which ase equal to the amount of ad valorem real propertytaxos that would be payable
<br /> to the Town of Chapel!till if the Grantee were not to excrapl from prop"taxes.This covert&w may be enforced in equity through
<br /> injunction,specific prafonnarhoe or otherwise,and at law,with the damage party receiving Its damages plus sttomcys Fens.By
<br /> accepting and recording of this Deed,Grantee hereby covenants and agroes that it and its hairs,successors and assigns and the property
<br /> horcinabove dosesibed aro and shall be encruubered by this covenant.
<br /> The CondomWum is,as of the date of this Dood,a Ltastbold Condominium pursuant to§2-106 ofihe North Carolina Condominitun
<br /> Act and that cutsin Ground Lease with the Town of Chapel Hill dated February 17,2011 (the"Ground Leaso')recorded in Book
<br /> 5116,Pago 342,Orange County Registry,and amended by the First Amendment to Ground Lease recorded in Book 5596,Page 394,
<br /> and by the Second Amtttdrnent to Ground Lease recorded in Book$670. Page 163, Orange County Registry, as assigned in
<br /> Ase igraD=t and Assurrspdon of Ground Least in Book 6222,Page 192,Orange County Registry.Absent an event of condemnation or
<br /> a trigger of the right of fust refusal as debcribrd in Sections B arW 13 respectively,of tho Ground!.ease,Grantee's ownership of the
<br /> Unit until be subject to the Grottmd Lease for at least the first 50 years after creation of the Condominium.
<br /> Pamel ID:4788-27.8230.030&978B-27-8230.005(easenrcat)
<br /> Property Address:140 W.Franklin Street Utut 224,Chapel Hill,NC 27516
<br /> n`C Bu Aur Mian Fom No.3 O Reviud 712at3
<br /> Print W by Aarttv4sl with the NC Bit Atic+clua4 North Camuas Bar Asw66m-NC Bu Farm 1-o.3
<br /> Notch CtmErn Aatoeia6m of Raftots,kc.-Su rlud Fats 3
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