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(b) Seller shall deliver copies of any Leases to Buyer pursuant to Section 4 as if the 1 -eases were listed therein:
<br />(c) Seller represents and warrants that as of the Contract Date there are no current defaults (or any existing situation which,
<br />with the passage of time, or the giving of notice, or both, or at the election of either landlord or tenant could constitute a default) either
<br />by Seller, as landlord, or by any tenant under any Lease ("Lease Default"). In the event there is any Lease Default as of the Contract
<br />Date, Seller agrees to provide Buyer with a detailed description of the situation in accordance with Section 4. Seller agrees not to
<br />commit a Lease Default as landlord after the Contract Date, and agrees funher to notify Buyer immediately in the event a Lease
<br />Default arises or is claimed, asserted or threatened to be asserted by either Seller ora tenant under the Lease.
<br />(d) In addition to the condition, provided in Section 6 of this Agreement, this Agreement and the rights and obligation.. of
<br />the parties under this Agreement are hereby made expressly conditioned upon the assignment of Seller's interest in any Lease to Buyer
<br />in fort and content acceptable to Buyer (with tenant's written consent and acknowledgement, if required under the Lease), and Seller
<br />agrees to use its best efforts to effect such assignment. .Any assignment required under this Section 7 shall be required to he delivered
<br />at Closing by Seller in addition to those deliveries required under Section i I ofthis Agreement.
<br />(e) Seller agrees to deliver an assignment of any Lease at Closing, with any security deposits held by Seller under any Leases
<br />to be transfen-cd or credited to Buyer at Closing. Scller also agrees to execute and deliver (and work diligently to obtain any tenant
<br />signatures necessary for same) any estoppel certificates and subordination, nondisturbance and atiornment agreements in such form as
<br />Buyer may reasonably request.
<br />Section 8. Environmental: Seller represents and warrants that it has no actual knowledge of the presence or disposal, except as in
<br />accordance with applicable law, within the buildings or on the Property of hazardous or toxic waste or substances, which are defined
<br />as those substances, materials. and wastes. including, but not limited to, those substances, inaterials and wastes listed in the United
<br />States Department of Transportation Hazardous Materials Table (49 CFR Part 17'.101) or by the Environmental Protection Agency as
<br />hazardous substances (40 CFR Part 302.4) and amendments thereto, or such substances, materials and wastes, which are or become
<br />regulated under any applicable local. state or federal law, including., without limitation, any material, waste or substance which is (i)
<br />petroleum, (ii) asbestos, (iii) polychlorinated biphenvls, (iv) designated as a Hazardous Substance pursuant to Section 311 of the Clean
<br />Water Act of 1977 (33 U.S.C. § 132 1) or listed pursuant to Section 307 of the Clean Water Act of 1977 (33 U.S.C. S 1317). (v) defined
<br />as a hazardous waste pursuant to Section 1004 of the Resource Conservation and Recovery Act of 1976 (42 U.S.C. §6903) or (vi)
<br />defined as a hazardeus substance pursuant to Section 101 of the Comprehensive Environmental Response, Compensation and Liability
<br />Act of 1980 (42 U.S.C. §9601 ). Seller Inas no actual knowledge of any contamination of the Property from such substances as may
<br />have been disposed of or stored on neighboring tracts.
<br />Section 9. Risk of Loss/Damage/Repair: Until Closing, the risk of loss or damage to the Property, except as otherwise provided
<br />herein, shall be borne by Seller. Except as to maintaining the Property in its same condition, Seller shall have no responsibility for the
<br />repair of the Property, including any improvements. unless the parties hereto agree in wTiting.
<br />Section 10, Earnest Money Disbursement: In the event that any of the conditions hereto are not satisfied, or in the event of a breach
<br />of this Agreement by Seller, then the Earnest Money shall be returned to Buyer, but .such retum shall not affect any other remedies
<br />available in Buyer for such httpch (p the extent th6 offer is accepted and Buyer breathes this Agreement, then the Earnest Money
<br />shall be forfeited, but such forfeiture shall not affect any other remedies available to Seller for such breach. NOTE. In the event of a
<br />dispute between Seller and Buyer over the return or forfeiture of Gamest Money held in escrow by a licensed real estate broker, the
<br />broker is required by state ]aw to retain said Earnest Money in its trust or escrow account until it has obtained a written release from
<br />the parties consenting to its disposition or until disbursement is ordered by a court of competent jurisdiction, or altentatively. the party
<br />holding the Earnest Money may deposit the dLsputed monies with the appropriate clerk of coon in accordance with the provisions of
<br />N.C.G.S. §93A-12.
<br />Section 17. Closing: At Closing, Seller shall deliver to Buyer a general warranty deed unless otherwise specified on Exhibit B and
<br />other documents customarily executed or delivered by a seller in similar transactions. including without limitation, a bill of sale for
<br />any personalty listed on Exhibit A. an owner's affidavit, lien waiver forms and a non -foreign status affidavit (pursuant to the Foreign
<br />Investment in Rcal Property Tax Act), and Buyer shall pay to Seller the Purchase Price. At Closing, the Gamest Money shall be applied
<br />as part of the Purchase PI ice. The Closing shall be held at the office of Buyer's attorney or such other place as the parties hereto may
<br />mutually agree. Possession shall be delivered at Closing. unless otherwise agreed herein.
<br />Section 12. Notice%: Unless otherwise provided herein, all notices and other communications which may be or are required to be
<br />given or made by any party to the other in connection herewith shalt be in writing and shall be deemed to have been properly given
<br />and received on the date delivered in peram or deposited in the United States mail. registered or certified, retunn receipt requested, to
<br />the addresses set out in Section I(g) as to Seller and in Section 1(h) as to Buyer, or at such other addresses as specified by written
<br />Buyer Initials Seller Initials
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<br />NC Uar Association Fonn Na. 13 t 2001) This Slatutard Fonn has barn approvedjointly by Ihc:
<br />North Catalina But Assmiation - NC Bar Fonn No 13
<br />Ntmtl Carolina M-mirtatitm orRl-AI Tr)Rc+ Inn - Siundanl Fenn N,, Sinn -T
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