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<br />14. RIGHT OF ENTRY, RESTORATION AND INDEMNITY: Buyer and Buyer's agents and contractors shall have the right to
<br />enter upon the Property for the purpose of appraising and evaluating the Property, and performing the tests and inspections
<br />pernutted in this contract. Buyer shall, at Buyer's expense, promptly repair any damage to the Property resulting from any activities
<br />of Buyer and Buyer's agents and contractors. Buyer will indemnify and hold Seller harmless from all loss, damage, claims, suits or
<br />costs, which shall arise out of any contract, agreement, or injury to any person or property as a result of any activities of Buyer and Buyer's
<br />agents and contractors relating to the Property. This indemnity shall survive this contract and any termination hereof. Notwithstanding the
<br />foregoing, Seller shall be responsible for any loss, damage, claim, suit or cost arising out ofpre-existing conditions of the Property and/or
<br />out of Seller's negligence or willful acts or omissions.
<br />15. OTHER PROVISIONS AND CONDITIONS: CHECK ALL STANDARD ADDENDA THAT MAY BE A PART OF THIS
<br />CONTRACT, IF ANY, AND ATTACH HERETO. ITEMIZE ALL OTHER ADDENDA TO-THIS CONTRACT, IF ANY, AND
<br />ATTACH IHIRETO. (NOTE: UNDER NORTH CAROLINA LAW, REAL ESTATE AGENTS ARE NOT PERMITTED TO DRAFT
<br />CONDITIONS OR CONTINGENCIES TO THIS CONTRRACT.)
<br />O Additional Provisions Addendum (Form 2A11-T) ~ Loan Assumption Addendum (Form 2A6-T)
<br />Back-Up Contract Addendum (Form 2Al-T) ~ Owners' Association Disclosure And Addendum (Form 2A12-T)
<br />~ Contingent Sale Addendum (Form 2A2-T) ~ Seller Financing Addendum (Form 2A5-T)
<br />~ FHA/VA Financing Addendum (Form 2A4-T)
<br />~ OTHER:
<br />1)See Exhibit 1 & 2
<br />2)Suyer's are both licensed Real Estate Brokers
<br />16. RISK OF LOSS: The risk of loss or damage by fire or other casualty prior to Closing shall be upon Seller.
<br />17. ASSIGNMENTS: This contract may not be assigned without the written consent of all parties, but if assigned by agreement, then
<br />this contract shall be binding on the assignee and his heirs and successors.
<br />18. TAX-DEFERRED EXCHANGE: In the event Buyer or Seller desires to effect atax-deferred exchange in connection with
<br />the conveyance of the Property, Buyer and Seller agree to cooperate in effecting such exchange; provided, however, that the
<br />exchanging party shall be responsible for all additional costs associated with such exchange, and provided further, that anon-
<br />exchangingparty shall not assume any additional liability with respect to such tax-deferred exchange. Seller and Buyer shall execute
<br />such additional documents, at no cost to the non-exchanging parry, as shall be required to give effect to this provision. (NOTE:
<br />If Alternative 2 under paragraph 13 of this contract will apply, Seller should seek advice concerning the taxation of the Option Fee.)
<br />19. PARTIES: This contract shall be binding upon and shall inure to the benefit of the parties, i.e., Buyer and Seller and their heirs,
<br />successors and assigns. As used herein, words in the singular include the plural and the masculine includes the feminine and neuter
<br />genders, as appropriate.
<br />20. SURVIVAL: If any provision herein contained which by its nature and effect is required to be observed, kept or performed after
<br />the Closing, it shall survive the Closing and remain binding upon and for the benefit of the parties hereto until fully observed, kept or
<br />performed.
<br />21. ENTIRE AGREEMENT: This contract contains the entire agreement of the parties and there are no representations, inducements
<br />or other provisions other than those expressed herein. All changes, additions or deletions hereto must be in writing and signed by all
<br />parties. Nothing contained herein shall alter any agreement between a REALTOR® or broker and Seller or Buyer as contained in any
<br />listing agreement, buyer agency agreement, or any other agency agreement between them
<br />22. NOTICE AND EXECUTION: Any notice or communication to be given to a party herein maybe given to the party or to
<br />such party's agent. Any written notice or communication in connection with the transaction contemplated by this contract maybe
<br />given to a party or a party's agent by sending or transmitting it to any mailing address, a-mail address or fax number set forth in the
<br />"Notice Address" section below. This offer shall become a binding contract (the "Effective Date") when signed by both Buyer and
<br />Seller and such signing is communicated to the offering party. This contract may be signed in multiple originals, all of which together
<br />constitute one and the same instrument, and the parties adopt the word "SEAL" beside their signatures below.
<br />23. COMPUTATION OF DAYS: Unless otherwise provided, for purposes of this contract, the term "days" shall mean consecutive
<br />calendar days, including Saturdays, Sundays, and holidays, whether federal, state, local or religious. For the purposes of calculating days,
<br />the count of "days" shall begin on the day following the day upon which any act or notice as provided in this contract was required to be
<br />performed or made.
<br />his form jointly approved by: North Carolina Bar Association, North Carolina Association of REALTORS Inc.
<br />REPARED BY: stepney edwards, broker
<br />TANDARD FORM 12-T Revised 1/2008 ©1/2008
<br />eaIFA$T®Softw e, ©2008, Version 6.17 Beta. Software Registered to: Office Manager, Exit Realty Southpoint ~~// ~ 1~
<br />~~ ~~~ 05/21/08 14:24:04 a age 5 of 7
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