1983 - 10-27-83 Emergency Meeting

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OFFER TO P "CHASE AND CONTRACT r OUNTY OF LEE II '.:~~N Buyer Malbng Address P, Q., Box 987, Sanford, N,_.C. 27330 1 Phone No. 775-3515 Seiler OWL'IS. NES T. WATERWORKS INCORPORATED Mal hng Address Route. 9, Bpx..343,, Sanford,... N. G.._2.7330 Phone No. .774-.651.1. Real tar, iN.(A jlaihng Address N/A Phone No. Real Property 1.:. See Exhibit "B" Personal Pioert} See Exhibit "B" < Iiuyel hereby offers to purchase the real and personal property above described from Seller in accordance with the Standard Pro, isiuns on the Reverse Side Hereof and the following terms and conditions; upon acceptance of this offer, this shall lmcome~a contract binding upon the parties: 1 PUIICIIASE PRICE: The purchase price is $...116, 500.00 A vhull be paid as Cullows: (a) $'q N~/°' by' assumption of the unpaid principal balance and all obligations of Seller on the existing loan veuu &by it deed of trust on the above described property. (b) $ .,V;~A by a promissory note secured by a purchase money deed of trust on the property with interest pr or lit default at the rate of ...._.__..._$o per annum, payable by - payments of $ . commenting; on'. Prepayment rights, if any, shall be:.... Buyers right to 'convey subject to or with assumption, if any, shall be 11!6,_500 00 (c) $ the balance of the purchase price in cash at closing. ' 2 EARNEST MONEY: The sum of NIA.. _ in earnest money is hereby deposited in escrow with: to guarantee the faithful performance by Buyer hereunder and to be applied on the purchase price at closing. s' 3. CONDITIONS: [State N/A in each blank of paragraph 3(a) and 3(b) that is not a condition to this contract] to) The Buyer must be able upon the exercise of due diligence to obtain a firm commitment acceptable to Buyer for itloan In the principal amount of $ for a term of N/A . Yea", at an interest rate not p to exceed _.._._9 prior to N/A secs [ant e Buyer agrees to advise Seller immediately upon his of such firm commitment. (b) The re must be no restriction, easement, zoning or other governmental regulation that would prevent the reason- able use of the real property for ....water system purposes; d. OTHER PROVISIONS AND CONDITIONS: la) All of the Standard Provisions on the Reverse Side Hcreuf are understood and shall apply to this instrument, ........Non e except the following numbered Standard Provisions shall he deleted: (If one are to be deleted, state "None" in this blank) (b) Conditions and contingencies as set out in Exhibit' A" attached hereto and made a I I ly P 5i CLOSING: All parties agree to execute any and all documents and papers necessary in connection with closing and trap fer of titfeon or before . December_ 30,_. 1983 at a place designated by Buyer............ Deed is to be made to COUNTY OF LEE . f . G POSSESSION: Possession shall be delivered upon payment of purchase price in the event that Buyer has ago od that possession is not delivered at closing, then Seller agrees to pay to Buyer the sum of per dny,.,:1it , and: including the date that Possession is to be delivered as above set forth. ' i COUNTERPARTS: This Offer and Contract is executed in .:..two..._.._. counterparts with an executed counterpart being retarna clyt each party hereto. 'October 27, 1983 Date of OITer Date of Acceptance:. Octobcr~. , 1983 COUNTY O LE OW N)LS ATERWORKS INCORPORATED By, ii ....[Seal] $y r , ...[Seal] r P Attest Buy/eJX C rFrn Att _ (,_[r/G\ (Owner) res ident BY. fx-- ......[Seal] ..Seal] Buyer le a ter (0 er) Secretary ? I hereby acknowledge receipt of t earnest money herein set forth in accordance with a terms hereof and I further ack nde'ad'ge that I have witnessed the due execution hereof. ;t I i ..(Date Agent CAUTION =THE'PROVISIONS CONTAINED HEREIN ARE OF SUBSTANTIAL LEGAL EFFECT, AND ALI, PARTIES AREIADYISED TO CONSULT THEIR ATTORNEYS PRIORTO SIGNING. i I ' I t I I C 11 A f , u. 2 al 1916 ~ ~A/~ 11. ?l.Cc gal