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REAL ESIM PURCHASE AND SALE AGREEMENT THIS REAL ESTATE PURCHA E AND SALE AGREEMENT (this "Agreement") is made and entered into effective as of the 13 day of �, 2019 (the "Effective Date"), by and between RICHARD B. HEARN, and wife ANGELA B. HEARN (collectively, the "Seller") and the COUNTY OF LEE, one of the counties of the State of North Carolina and a body both politic and corporate, (the "Buyer"). WITNESSETH: WHEREAS, Buyer and Seller entered into that certain Option to Purchase and Right of First Refusal to Purchase Real Property dated as of July 9, 2019 (the "Option"), granting the Buyer the option to purchase the Property (as defined herein) on certain terms and at such price as set forth in the Option. WHEREAS, Buyer desires to purchase that that certain 98 2/3 acre tract of land located at 192 Tabitha Lane, Sanford, NC 27330 (the "Land"), and as more particularly described on Exhibit A attached hereto and incorporated herein by reference, together with: All easements and other rights appurtenant to the Land (collectively, the "Appurtenances") including but not limited to the Easement to said Land recorded in Deed Book 1345, Page 659, Lee County Registry; All improvements located on the Land, including but not limited to any buildings, other than the existing metal shop building (the "Shop Building") to be removed by Seller following Closing as provided herein, all paved parking areas, entrance roads, utility facilities, drainage facilities, landscaping, signs, lighting equipment and other site improvements located (or to be constructed) on the Land (collectively, the "Improvements"). Seller's right, title and interest in any assignable licenses, government approvals and permits relating to the construction of the Improvements or the proposed operation of the Improvements as of the Closing Date (collectively, the "Permits"). Seller's right, title and interest in any assignable warranties or guaranties that Seller has received (or may receive prior to Closing) from its contractor and any subcontractors and/or suppliers in connection with the construction of the Improvements (collectively, the "Warranties"). The Land, the Appurtenances and the Improvements are collectively referred to in this Agreement as the "Real Property." The Real Property, the Permits and the Warranties are collectively referred to in this Agreement as the "Property." NOW THEREFORE, in consideration of the Good Faith Deposit (as defined below) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: I. SALE OF THE PROPERTY. Seller agrees to bargain, sell, grant, convey and deliver the Property to Buyer, and Buyer agrees to purchase and accept the Property from Seller, for the price and on the terms and conditions set forth herein. 2. PURCHASE PRICE: PAYMENT OF PURCHASE PRICE. (a) Purchase Price. The total purchase price for the Property is ONE MILLION ONE HUNDRED AND THIRTEEN THOUSAND SIX HUNDRED SIXTY-SEVEN and 00/100 DOLLARS 999999.009-2231269x3