|
ITAND:ViD
<br />I EARNEST )CONEY: In the event this offer ccepted,
<br />or Ia the event that any of the conditions hereto satisfied,
<br />.or Inthe.evem, of. a breach of this contract by Seller, then the
<br />ear nest l money, shall be returned W Buyer. In the event this offer
<br />is accepted and Buyer breaches this contract, then the earnest
<br />nfoney shall be forfeited and Daid to Seller, but such payment
<br />shall' not affect any other remedies available to Seller for such
<br />breach,
<br />2~ LOAN ASSUMED: In the event a loan Is assumed As part of
<br />the paYmant of the purchase price, then all payments due from
<br />Seller thereon must be current at closing and the principal balance
<br />assumed shall be computed es or the date of closing. The amounts
<br />shown for the Assumption balance and cash at closing shall be
<br />adjusted as Appropriate at closing W reflect the final computations.
<br />Buyer shall' be responsible for all transfer fees and any other
<br />charges required by the lender for the assumption of the loan. The
<br />escrow account, if any, shall be purchased by Buyer.
<br />3. PROMISSORY NOTE AND DEED OF TRUST: In the event
<br />a Prbmissary. rote.aecured by a deed of trust is given by Buyer
<br />to Seller as part of the payment of the purchase price, the prornis-
<br />torli,m a andAeeo of trust shall be in the form of and contain
<br />the provlslons~of the promissory note and deed of trust forms
<br />ePpmena: by the N. C. Bar Association u Fbrm. 4 and 5.
<br />4.i PROBATIONS AND ADJUSTDtENTS: Unless otherwise pro-
<br />vided'the following Bems shall be prorated and adjusted between
<br />the parties' or Auld at closing:
<br />,(.)'Ad estate. tues on real property shall be prorated on a
<br />'calendar year basis to the date of closing.
<br />' Ib 'Ad valorem taxes on personal property for the entire year
<br />shall. be pal! by Seller.
<br />(c) All:late'ldntng penalties, if any. shall he paid by Seller.
<br />any, for the property shall be prorated in the date
<br />'(e) Buyer shall have the right to purchase Seller's fire Insur-
<br />ance policy` upon payment to Seller of the unearned premium
<br />therefor: if the policy Is assignable,
<br />tf) Accrued; but unpaid, interest and other charges to Seller,
<br />If Any, shall the computed W the date of closing and Paid by
<br />Seller; Interest and other charges prepaid by Seller shall be credited
<br />in Seller at closing and paid by Buyer.
<br />5, FIRE,OR' OTHER CASUALTY: The risk of loss or damage
<br />by fire or other casualty prior to closing shall be upon Seller.
<br />G. CONDITIONS:
<br />(1) The property must be in substantially the same condition
<br />At closing. as on the date of this offer, reasonable wear and tear
<br />excepted:,' li -
<br />(b) All deeds of trust, peps and other charges against the real
<br />or personal _property. not assumed by Buyer, must be paid and
<br />cancelled by l Seller prior to or at closing. -
<br />(c) Mile must be delivered at closing by warranty deed antl
<br />must'-be fee simple marketable title, free of all encumbrances except
<br />atl valorem taxes for the current year (prorated W date of closing),
<br />utility easements and no"Olated restrictive covenants that do nor
<br />materially.allect the value of the property and such other encum-
<br />branches Ace may he assumed or specifically approved by Buyer. The
<br />subject properly must have legal access W a public right of way.
<br />(in, If i,portion of the purchase price for the property is being
<br />paid by, assumption of an existing loan, then the approval of the
<br />Leader for Such assumption after diligent application therefor by
<br />Buyer is a"condition of this contract.
<br />e NEW LOAN: Buyer shall be responsible for all charges
<br />made to Buyer: with respect to any new loan obtained Buyer
<br />and Seller eh ail have no Obligation to pay any y discount fee or
<br />PROVISIONS rI(~
<br />other charge it' connection Omrewlth unless ally set forth in Uss contract
<br />0. UTILITIES: Unless otherwise stated herein, the electrical,
<br />plumbing, heating and cooling systems, if any, shall be in good
<br />working order at closing. Buyer has the option to have the same
<br />inspected at Buyers expense and any repairs must be completed
<br />or provided for by Seller at letters expense. Closing shall con.
<br />stitute acceptance of the sane in their existing condition unless
<br />provision is otherwise made in writing pursuant W this paragraph.
<br />9. TERMITES, ETC: Unless otherwise stated herein, Seller
<br />shall provide At Seller's expense A statement showu-g the absence
<br />of termites, wood destroying Insects and organisms and structural
<br />damage therefrom on Standard Farm No. I in accordance with the
<br />regulations of the North Carolina Structural Pest Control Com-
<br />mittee, or if new construction, A new construction termite bond. All
<br />extermination requited and repair of damage therefrom shall be
<br />paid for by Seller and completed prior to closing, unless otherwise
<br />agreed in writing by the parties.
<br />110. LABOR OR MATERIAL: Seller shall furnish at closing
<br />an affidavit and indemnification agreement in torn satisfactory to
<br />Buyer showing that all labor or materials, if any, furnished to
<br />the property within 120 days prior to the date of closing have been
<br />paid Ard agreeing to indunnify Buyer against all loss from any
<br />cause arising therefrom.
<br />11. I'UE,L OIL: Buyer apices to purchase Iran, Seller the fuel
<br />oil, if any, situated in A tank oa the premises for the prevailing
<br />rate per gallon with the cost of measurement thereof. If any, being
<br />borne by Seller.
<br />,11 CLOSING EXPENSES: Seller shall pay for the prepara-
<br />tion of a deed slid for the revenue stamps required by law. Buyer
<br />shall pay for recording the deed and for preparation and recording
<br />of all Instruments sectioned W secure the balance of the purchase
<br />price unpaid at closing.
<br />13. EVIDENCE OF TITLE: Seller agrees to deliver to Buyer
<br />As soon as reasonably Possible aRer the acceptance of this Offer
<br />copies of all title information in possession of or available I.
<br />Seller. Ind.clng but not limited to: title insurance wheies, al-
<br />lorney'a opinions on title, surveys, covenants, deeds, notes and
<br />deeds of trust and easements relating to the real And personal
<br />property described above.
<br />14. ASSIGNMENT: This contract may not be assigned without
<br />the written agreement of all parties, but if the same is assignetl by
<br />agreement, then the sine shall be binding on the Assignee and
<br />his heirs.
<br />15. PARTIES: This contract shall be binding upon and shall
<br />inure to the benefit of the parties and their heirs. The provisions
<br />herein contained with respect to promissory notes and deeds of trust
<br />shall be binding upon antl shall inure W the benefit of All Parties W
<br />the wear As well vs subsequent owners of the property and the wind
<br />notes and deeds of trust. As used herein, words in the singular in-
<br />clude the plural and the masculine includes the feminine and
<br />neuter genders. as appropriate,
<br />1G. SURVIVAL: Any provision herein contained which by its
<br />nature and effect If required to be observed. kept, or performed
<br />after the closing shall survive the closing and remain binding upon
<br />and for the benefit of the parties hereto until
<br />or performed fully observed, kept.
<br />.
<br />73. ENTIRE AGREEMENT: Buyer acknowledges that he has
<br />inspectetl the shore described property. This contract contains
<br />the entire agreement of the Parties and therearc no representations,
<br />Inducements or other provisions other than those expressed in
<br />writing. All changes, Additions or deleUOns hered most be in
<br />writing and signed by all Pm9cs. Nothing herein contained shall
<br />alter any agreement between a realor And the Seller as contained
<br />in Any listing contract or other agreement between then). Any party
<br />may cause this contract to be recorded,
<br />late of North Ga,rolj~a, Cpunty of Lee 'p
<br />.'y'J'~ /✓l ~/Ltc ,a Notary Public, do hereby certify that,f~Q
<br />~'fGnrpersonally came before me this day and acknowledged that he isSecre-
<br />iry ofl,; WL!S NEST WATERWORKS INCORPORATED, and that by authority duly given and as
<br />3e'act .6£ 1:corporation, the foregoing instrument was signed in its name by its_ __Presirient,
<br />e~ led, ota with its' rpo rate seal and attested by him as~i =itnes s my han d and
<br />otR r i al sealthis
<br />day of , 1983 ly comfisson expires. ^ota.y Public
<br />ouauy oa L,ee
<br />his_2Lr `day of , 1983, personally came before met, Judy S. Buchanan
<br />Nota'ryjPublic, John E. Dotterer, Chairman of the Board of Commissioners for Lee County,
<br />:orth;Carolina, and that the seal affixed to the foregoing instrument in writing is the offi,ical
<br />eal of Lee County, and that said writing was signed and sealed by him on behalf of the County
<br />f Lee. by,Its',authority duly given. And the said Chairman acknowledged the said writing to be the
<br />cta~j}}d ~~eed''of said corporation. Witness my hand and notarial seal, this day of
<br />!-`C/CtC , 1983.
<br />19- ?i.,r 298
<br />
|