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b, <br />nog 13 ?Pu 174 <br />0 <br />9. Failure to Exercise. if this option is not exercised, all of <br />the consideration given for it shall be retained by the <br />Seller. <br />10. Risk of Loss. Risk of loss or damage by fire, vandalism or <br />other casualty prior to payment to the purchase price shall <br />remain with the Seller until conveyance of the Property to the <br />Buyer. <br />11. Entire Agreement. This option constitutes the entire <br />agreement between the parties. No representations, warranties, <br />or promises pertaining to this option or any property affected <br />by this option have been made by, or shall be binding on any <br />of the parties, except as expressly stated in this option. <br />This option may not be changed orally, but only by an agree- <br />ment in writing signed by the parties against whom enforcement <br />of any such change is sought. <br />12. Notices. Any notice or demand under this option shall be sent <br />by registered or certified mail as follows: William K. Cowan, <br />County Manager, P. O. Box 1968, Sanford, North Carolina 27330 <br />on behalf of the Seller or to The Historic Preservation <br />Foundation of North Carolina, Inc., P. 0. Box 27644, Raleigh, <br />North Carolina 27611-7644, c/o J. Myrick Howard, on behalf of <br />the Buyer. <br />13. Benefit. This option shall inure to the benefit of, and shall <br />bind the heirs, successors and assigns of the respective <br />parties. <br />14. Conditions. Seller is not responsible for asbestos removal. <br />IN WITNESS WHEREOF, the Seller has executed and delivered this <br />agreement, the day and year first above mentioned. <br />10 <br />