F. Contract Section Part 2

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Paery NEW CONSTRUCTION ADDENDUM (For Completed Construction) ‘This form is not for use when Buyer owns the Property Peete ‘OTE: This form is designed for use when Seller is a licensed contractor who has completed construction of a "spec" single-family dwelling on property owned or to be owned by Seller who will convey improved property to Buyer, and should be attached as an addendum to the Offer to Purchase and Contract (Form 2-T). The form is also designed to accommodate an agreement between Seller and Buyer for additional minor improvements. If construction of the dwelling is not completed or if extensive additional improvements are to be made or appraisal is dependent on their value, the parties should use the Offer to Purchase and Contract-New Construction (Form 800-T) instead of this form. The additional provisions set forth below are hereby made a part of the Offer to Purchase and Contract ("Contract") for the Property located at between Buyer: ‘and Seller NC contractor's license # classification Timie 1, CONSTRUCTION OF HOUSE. Seller has completed construction of a single-family dwelling and related improvements (hereinafter "House”) on the Property. Seller represents and certifies that Seller was licensed to consiruct the House and is licensed to construct any additional improvements that may be made by Seller pursuant to this Contract. Seller shall provide to Buyer 8 certificate of occupancy ("CO") for the House and any additional improvements made thereto no later than Settlement. 2. ADDITIONAL IMPROVEMENTS. (a) Description. The parties agree that Seller will make the following additional improvements to the Property (describe all improvements; insert "N/A" if no additional improvements are fo be made) (hereinafter collectively the "Additional Improvements") (As noted above, if extensive additional improvements are to be made, the parties should use the Offer to Purchase and Contract-New Construction (Form 800-T) instead of this form): (b) Construction. Seller shall construct the Additional Improvements in compliance with all laws, regulations, codes, and ordinances applicable to the construction of the Additional Improvements and in a good and workmanlike manner with new, good ‘quality materials and components. (©) Changes. Seller shall not make any significant deviation or change in the Additional Improvements without the prior written ‘consent of Buyer. (@) Costs of Construction. Seller shall provide and pay for all labor, materials, equipment, tools, clean-up, utilities, wansportation, facilities, permits, fees, licenses and all other costs, charges and expenses whatsoever in connection with or related to the construction of the Additional Improvements. 3. COMPLETION OF ADDITIONAL IMPROVEMENTS. Seller shall diligently pursue the construction of the Additional Improvements, and shall complete construction of the Additional Improvements on or before Settlement. If Seller is delayed at any time in the progress of construction by: (a) any act of neglect of Buyer, (b) any changes ordered in the construction, (c) material shortages, adverse weather conditions, or delays in transportation which were not reasonably anticipated or (d) acts of God, then the Page of’ This form jsnty approved by: STANDARD FORM 243 -1 North Carlin Ba Solin a Revie 12011 ee. North Carolina Association of REALTORS®, Inc. as ©1201 ayer int Sele nits Dreaed wh snFam@by sop O70 Fees Mie Rad. Facer, Mevpen 48038 massac time for completion of construction of the Additional Improvements and the Settlement Date shall be extended automatically by a reasonable time to account for the delay experienced. Seller shall notify Buyer in writing within five (5) days afier the commencement of the delay: otherwise the right to an extension shall be waived. The construction of the Additional Improvements shall be deemed completed when they have been completed in accordance with the terms of this Contract and a CO(s) of occupancy has/have been issued by the appropriate governmental authority having jurisdiction over the construction of any of the Additions Improvements. 4, INSPECTIONS. Buyer or Buyer's designated representative may enter and inspect the Additional Improvements at reasonable times and in such manner as not to interfere with the progress of construction for the limited purpose of determining whether the work performed or being performed conforms to the terms of this Contract. In the event that during construction the Buyer shall reasonably determine that construction is not proceeding in accordance with this Contract, Buyer shall give written notice to Seller specifying the particular deviation, deficiency, or omission, and the Seller shall forthwith correct such deviation, deficiency, or omission. Buyer's rights under this paragraph shall not release Seller from any of Seller's obligations for the construction of the Additional Improvements in accordance with this Contract. 5, PURCHASE PRICE AND BUILDING DEPOSIT. (a) Purchase Price, The purchase price set forth in Paragraph 4 of the Contract includes the purchase price of the Additional Improvements, if any. (b) Building Deposit. The Building Deposit, if any, referred to in Paragraph 1(d) of the Contract is not an Eamest Money Deposit ‘and will be used by Seller in the construction of the Additional Improvements. The Building Deposit shall be paid to the Seller by cash or immediately available funds such as official bank check or wire transfer no later than the first banking day following the end of the Due Diligence Period and will be credited to the purchase price at Settlement. The Building Deposit shall be refundable only in the event of a material breach of the Contract by Seller, the nonfulfillment of the condition set forth in Paragraph 1 of the Contract, of if the Contract is terminated under Paragraph 12. Should the Buyer fail to deliver the Building Deposit in accordance with the terms of this subparagraph, Buyer shall have one (1) banking day after written notice to deliver the Building Deposit to Seller. In the event Buyer does not timely deliver the Building Deposit, Seller shall have the right to terminate this Contract upon writen notice to Buyer. (WARNING: In determining whether and how much Building Deposit Buyer is willing to pay, Buyer should carefully consider that even though Buyer may be legally entitled to a refund of the Building Deposit in the event of a material breach of this Contract by Seller, actual recovery of the Building Deposit may be difficult, time-consuming and/or costly if Seller is unable or ‘unwilling to voluntarily refund the Building Deposit.) WARRANTIES. (a) Limited Warranty of Construction, Unless otherwise provided for herein, Seller hereby warrants that, for a period of one (1) year from the date of Closing or the date Buyer occupies the House, whichever comes first, Seller will make all necessary repairs land corrections to the House and any Additional Improvement, either interior or exterior, structural or nonstructural, that shall become necessary by reason of faulty construction, labor or materials. At Seller's sole option, Seller may either (i) make such repairs and corrections, (if) replace any faulty or non-conforming item or condition or (ii) pay to Buyer the reasonable cost of such repair, correction or replacement. This limited warranty: (1) is for the benefit of Buyer only and may not be assigned nor shall it inure to the benefit of any other person or entity, and (2) shall survive Closing and the delivery of the deed. (b) Warranties of Components. Seller shall assign and deliver to Buyer at Closing all guarantees and warranties of all components comprising the House and any Additional Improvements to the extent the same are assignable. Buyer shall be responsible for compliance with any notice and claim procedures set forth therein. 7. INSULATION OF IMPROVEMEN’ WALLS (CEILINGS: FLOORS TYPE THICKNESS R-VALUE Page 2 of 3 STANDARD FORM 243-1 Revised 1/2011 Buyer initials Seller initials ©1201 Prices wih 2pFerml by ogy SEO tan Rene Fst inn 4026 wan zoLaancom United IN THE EVENT OF A CONFLICT BETWEEN THIS ADDENDUM AND THE OFFER TO PURCHASE AND CONTRACT, THIS ADDENDUM SHALL CONTROL.THE NORTH CAROLINA ASSOCIATION OF REALTORS , INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKE NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL HAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN IT. Date Date Buyer: (SEAL) Seller: (SEAL Date Date Buyer: (SEAL) Seller: (SEAL Date Date Buyer (SEAL) Seller: (SEAL) Page 3 of 3 Prien pFom® yxoLagh S807 Fee Mie Rone Faw Mchign A826 saeco STANDARD FORM 2A3 -T Revised 1/2011 ©2011 Unitas CONTINGENT SALE ADDENDUM Seller's Property Address 1, Closing Contingency for Buyer's Real Property located at: (@) Contract For Buyer's Property: If Buyer's Property is under contract as of the Effective Date of this Contract with Seller ‘OR goes under contract during the Due Diligence Period of this Contract, then Buyer shall deliver a copy of the contract for Buyer's Property ("Contract for Buyer's Property") to Seller and it shall be a condition of this Contract that closing on the sale ‘of Buyer's Property occurs on or before the Settlement Date of this Contract. If Buyer fails to deliver to Seller a copy of @ Contract for Buyer's Property by the expiration of the Due Diligence Period this Contract shall be null and void and the Eamest Money Deposit shall be refunded to Buyer. In any instance when Buyer is providing to Seller a copy of a Contract, for Buyer's Property, Buyer may mark out any confidential information, such as the purchase price and the buyer's identity, prior to providing the copy to Seller. (b) Closing on Contract For Buyer's Property: If there is a Contract For Buyer's Property, but the closing on the sale of Buyer's Property has not occurred by the Seltlement Date, then Buyer may terminate this Contract within three days following the Settlement Date by written notice to Seller, TIME BEING OF THE ESSENCE , and the Eamest Money Deposit shall be refunded to Buyer. (WARNING: If Buyer does not terminate this Contract as set out in (b) above, and Buyer fails to timely complete Settlement and Closing as provided in Paragraph 13 of this Contract, Buyer risks the loss of the Earnest Money Deposit). 2. Termination of Contract for Buyer's Property. If, following the expiration of the Due Diligence Period of this Contract, any Coniract for Buyer's Property previously delivered to Seller terminates for any reason, Buyer shall promptly provide Seller written notice and reasonable documentation of such termination. In the event of any such termination, then either party may terminate this Contract by written notice to the other party and the Earnest Money Deposit shall be refunded to Buyer. 3, Listing of Buyer's Property for Sale. If Buyer has not entered into a Contract For Buyer's Property as of the Effective Date 0 this Contract, Buyer's Property (check only ONE of the following options ) D is sted with Q willbe listed on oF before: ‘with’ G Buyer is attempting to sell the property without the assistance of a real estate broker. IN THE EVENT OF A CONFLICT BETWEEN THIS ADDENDUM AND THE CONTRACT, THIS ADDENDUM SHALL CONTROL. THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKE NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN IT, Date Date. Buyer: (SEAL) Seller: (SEAL) Date Date. Buyer: (SEAL) Seller: (SEAL) Page | of 1 STANDARD FORM 2A2-T Revised 1/2011 Bebe. North Carolina Association of REALTORS®, Inc. rd 12011 ‘Beverly Hanks & Associates 300 Executive Park Asheile, NC 28801 Phone 824-254-7231 Fax #28-255-8004 ‘mint admin uted Prcad wt ar oy HPogh 107 Fee le Ronee, Mean 26 eae BACK-UP CONTRACT ADDENDUM Property Address: ‘he additional provisions set forth below are hereby made a part of the Offer to Purchase and Contract or the Offer To Purchase and Contract - Vacant Lot/Land (the "Back-up Contract") for the Property located at between Buyer: and Seller Buyer and Seller acknowledge that Seller has previously entered into an Offer to Purchase and Contract or an Offer To Purchase and Contract - Vacant Lot/Land (the "Primary Contract") with {insert last name only] (the "Primary Buyer" under the Primary Contract), that the Primary Contract is currently pending, and that this Back-up Contract is accepted in a secondary or back-up position to the Primary Contract under the following terms and conditions: (1) Ttis a condition of this Back-up Contract that the Primary Contract is terminated as described below before Buyer and Seller shall be obligated to perform under this Back-up Contract. Termination of the Primary Contract shall be evidenced by: (@) written release signed by all parties thereto; or (b) written notice of termination from Seller to Primary Buyer that Seller is exercising a right to terminate the Primary Contract; or (©) written notice of termination from Primary Buyer to Seller that Primary Buyer is exercising a right to terminate the Primary Contract; or (@) final judgment of a court of competent juris otherwise terminated, jon that the Primary Contract is invalid, illegal, unenforceable, or is NOTE: For example, NCAR Forms 350-T, 351-T, 352-T, 353-T, 390-T or 391-T may be used to evidence the release or notices called for in this paragraph. 2) Seller shall indemnify Buyer and hold Buyer harmless from any and all claims, damages and costs, including reasonable attorneys’ fees, incurred by Buyer as 2 result of Buyer's reliance upon any wrongful or ineffective termination of the Primary Contract y Seller. G) Modification of the tems or conditions of the Primary Contract, including extensions of time, shall not constitute @ termination of the Primary Contract and shall not cause this Back-up Contract to move into 2 primary position, (4) Buyer and Seller agree that Buyer may not examine or otherwise have access to the Primary Contract without written permission from Seller and Primary Buyer. Seller represents that the Primary Contract calls for settlement date of Gate), (5) Buyer and Seller agree that any Initial Eamest Money Deposit shall be deposited within three (3) banking days following the Effective Date of this Back-up Contract even while this Back-up Contract isin secondary position, (© In the event the Primary Contract closes, then this Back-up Contract shall become null and void, and any Eamest Money Deposit shall be refunded to Buyer. (7) Inthe event the Primary Contract is terminated, Seller shall prompily provide Buyer: (a) written notice stating that this Back-up Contract has become primary ("Notice"); and (b) written evidence that the Primary Contract has been terminated as provided in paragraph 1 above, Buyer shall complete Settlement within days from receipt of the written Notice or by the dates specified in the Back-up Contract, whichever occurs later. rage 1 of 2 a STANDARD FORM 2A1 - T Revised 1/2011 ta, North Carolina Association of REALTORS®, Inc. 2a ©1211 Buyer initials Seller initials Bevery Hans & Assit 300 Exeve Prk Asevile,NC28801 Phone sahase251 Foc tanaseaoot min! ain! mites (8) __Inany event, Buyer must receive notification from Seller on or before , TIME BEING OF THE ESSENCE , that the Primary Contract has been terminated or this Back-up Contract shall become null and void and any Eamest Money Deposit shall be refunded to Buyer. Buyer may terminate this Back-up Contract before said date without liability by giving written notice of termination to Seller at any time prior to receipt by Buyer of written Notice from Seller that this Back-up Contract, thas become primary and any Earnest Money Deposit shall be refunded to Buyer. IN THE EVENT OF A CONFLICT BETWEEN THIS ADDENDUM AND THE OFFER TO PURCHASE AND CONTRACT OR OFFER TO PURCHASE AND CONTRACT - VACANT LOT/LAND, THIS ADDENDUM SHALL CONTROL, ‘THE NORTH CAROLINA ASSOCIATION OF REALTORS, INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKE NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN Ir, Buyer: (SEAL) Selle. (SEAL) Date: Date Buyer: (SEAL) Seller: (SEAL Date: Date: [NOTE: The following is a suggested notice that may be copied for the purpose of complying with the notice provision contained in paragraph (7) of the Back-Up Contract Addendum. DO NOT DETACH THE ORIGINAL OF THIS FORM FROM THE BACK-UP CONTRACT] NOTICE TO BUYER THAT BACK-UP CONTRACT IS NOW IN EFFECT NOTICE is hereby given to insert name of Buyer) from Seller under the Back-up Contract between them dated ‘that Seller has terminated the Primary Contract with (Primary Buyer), as evidenced by the ATTACHED (initial any one of the following) @ written release signed by all parties thereto; or (b), ‘written notice of termination from Seller to Primary Buyer that Seller is exercising a right to terminate the Primary Contract; or ‘written notice of termination from Primary Buyer (o Seller that Primary Buyer is exercising a right to terminate the Primary Contract; or final judgment of a court of competent jurisdiction that the Primary Contract is invalid, illegal, unenforceable, oF is otherwise terminated. oS Oo, and that the Back-up Contract entered into between Seller and Buyer has become primary and its terms and conditions are now in effect. Seller: Date: Seller: oe Page 2 of 2 STANDARD FORM 2A1-T Revised 1/2011 e101 ony 18079 Fan aon rose Meise S24 anlage ‘nite 300 Executive Park, Asheville, North Carolina 28801 1940 Hendersonville Road, Asheville, North Carolina 28803 400 Beverly-Hanks Centre, Hendersonville, North Carolina 28792 NOTICE is hereby given to___ ___(insert name of Buyer) from Seller under the Back-Up Contract Addendum between them dated that Seller has terminated the Primary Contract with. (Primary Buyer), as evidenced by the ATTACHED (a)_____ written release of the parties; or (b)_____ final judgment of a court of competent jurisdiction that the Primary Contract is invalid, illegal, unenforceable or otherwise terminated thereby; and that the Back-Up Contract entered into between Seller and Buyer has become primary and its terms and conditions are now in effect Date: _ Seller: NOTICE TO BUYER THAT BACK-UP CONTRACT IS NOW IN EFFECT (SEAL) | Date: Seller; (SEAL) NOTICE TO SELLER THAT BACK-UP CONTRACT IS NOW TERMINATED ee ee cetiitannadietatiaai sl mn name of Seller) from Buyer under the Back-Up Contract Addendum between them dated —________________ that the Buyer has terminated the Back-Up Contract. Date: Buyer: = panei (SEAL) Date: Buyer: = (SEAL) North Carolina Association of REALTORS®, Inc. a BUYER POSSESSION BEFORE CLOSING AGREEMENT ‘THIS AGREEMENT IS AN ADDENDUM TO THE OFFER TO PURCHASE AND CONTRACT WARNINGS TO BLYERS AND SELLERS + ‘THIS FORM SHOULD NOT BE USED FOR OCCUPANCY OF MORE THAN FOURTEEN (14) DAYS, LEASE PURCHASE OR LEASE OPTION TRANSACTIONS. IT DOES NOT ADDRESS IMPORTANT ISSUES THAT SHOULD BE ADDRESSED IN A RESIDENTIAL LEASE DRAFTED FOR A LONG-TERM OCCUPANCY. + YOU ARE ADVISED TO CONFIRM WITH AN INSURANCE PROFESSIONAL THE TERMS OF COVERAGE UNDER YOUR PROPERTY AND CASUALTY INSURANCE POLICY BEFORE USING THIS ADDENDUM. Buyer: has entered into an Offer to Purchase and Contract ("Contract") dated with Seller: to purchase the Property known as: ‘Buyer may take possession of the Property on (Commencement Date") (NOTE: Select a date afier the end of the Due Diligence Period). This Agreement shall terminate atthe earlier of the Closing or days (not to exceed fourteen [14] days) from the Commencement Date (the entire period is referred to as the "Term"). Buyer and Seller, in consideration of the provisions set forth below, hereby agree as follows: 1. Buyer's possession of the Property constitutes an acknowledgement that all Due Diligence under Paragraph 4 of the Contract has ‘been completed or waived. Buyer accepts the Property in its then present condition, subject to any agreements between the parties, including, but not limited to, any Seller warranties or agreements that may survive Closing. 2, Prior to Closing, Buyer shall not alter, modify, damage or fail to maintain the Property in its present condition. Buyer shall make no changes in the Property, decorating or otherwise, prior to Closing without the written consent of Seller. In the event that Closing does not occur, Buyer shall pay all costs necessary to correct any alteration, modification or damage to the Property to restore the Property to the condition it was in at the time of the execution of this Agreement. 3. Buyer shall pay Seller a non-refundable lump sum of S for the Term in advance upon execution of this ‘Agreement ("Rent). 4. Without a written extension by the parties, if Closing has not occurred by the last day of the Term, then Buyer's right of possession shall terminate, and Buyer shall vacate the Property. If Buyer does not vacate the Property, then Buyer shall pay Seller a hold-over fee ofS per day until Buyer vacates the Property or is evicted. 5. Buyer shall have all utilities registered in Buyer's name as of the Commencement Date and shall pay the costs ofall utilities (sewer, water, gas, electricity, ete.) during the Term. 6. Buyer shall be responsible for lavm maintenance and trash removal during the Term. 7. Buyer shall keep any personal property owned by Buyer on or in the Property insured for the benefit of Buyer in such amount and to such extent as Buyer determines desirable. 8, Seller shall procure and/or maintain in effect a policy or policies of fire and hazard insurance adequately covering the Property and Seller's personal property, if any, located on the Property. Risk of loss or damage to the Property by fire or other casualty remains with Seller until Closing. 9. Buyer shall indemnify and hold Seller harmless from and against any and all liability, fines, suits, claims, demands, actions, costs and expenses of any kind or nature whatsoever caused by, or arising out of, or in any manner connected with any damage to the Property occasioned by Buyer's use and/or occupancy of the Property during the Term, including intentional or negligent acts by Buyer, Buyer's family, and/or agents and employees of Buyer, or any injury to person or persons, including death, or any damage ‘occurring in or about the Property and resulting from or occasioned by Buyer's use and/or occupancy of the Property during the Term. 10. Buyer shall not sublet the Property or assign this Agreement. age | of2 Tus form ently approved by: STANDARD FORM 247-7 re Carlo Bar stn a weed 011 TE north Carolina sociation of REALTORS®, Ine. = ‘e1a011 Bayern rina fi nai vit 11, Seller shall pay the owners association dues and other like charges, if any, during the Term, Check one: Clpets are allowed on the Property [no pets are allowed on the Property 13. In the event of Buyer's breach of this Agreement or the Contract, Buyer may be evicted from the Property pursuant to a summary «jectment proceeding brought before the magistrate in the county where the Property is located, as provided in Chapter 42 of the Noh Carolina General Statutes. 14. The losing party in any legal proceeding brought by Buyer or Seller against the other party for breach of any provision of this Agreement (including an action for summary ejectment) shall be liable for the costs and expenses of the prevailing party, including reasonable attorneys’ fees (at all tribunal levels), 15. TIME IS OF THE ESSENCE with regard to the expiration of the Term. EXCEPT AS SPECIFICALLY MODIFIED HEREIN, ALL OF THE TERMS AND CONDITIONS OF THE CONTRACT SHALL REMAIN IN FULL FORCE AND EFFECT. IN THE EVENT OF A CONFLICT BETWEEN THIS AGREEMENT AND THE CONTRACT, THIS AGREEMENT SHALL CONTROL. ‘THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKE, NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN Ir, ae (SEAL) Date Be (SEAL) Date Seller: (SEAL) Date Seller (SEAL) Date Page 2 of 2 STANDARD FORM 2A7-T Revised 1/2011 ©12011 Pri wth oFon ty selogh HOP Fie om Fraser Migr 4806 sila com Untied SELLER POSSESSION AFTER CLOSING AGREEMENT IS AN ADDENDUM TO THE OFFER TO PURCHASE AND CONTRACT ‘THIS AGREE} WARNINGS TO BUYERS AND SELLERS : ‘THIS FORM SHOULD NOT BE USED FOR OCCUPANCY OF MORE THAN FOURTEEN (14) DAYS. IT DOES NOT ADDRESS IMPORTANT ISSUES THAT SHOULD BE ADDRESSED IN A RESIDENTIAL LEASE DRAFTED FOR A LONG-TERM OCCUPANCY. + YOU ARE ADVISED TO CONFIRM WITH AN INSURANCE PROFESSIONAL THE TERMS OF COVERAGE, UNDER YOUR PROPERTY AND CASUALTY INSURANCE POLICY BEFORE USING THIS ADDENDUM. Seller: has entered ito an Offer to Purchase and Contract ("Contract") dated with Buyer: 0 sell the Property known as Seller desires to remain in possession of the Property on and after the Closing throughout the "Term," which ends the earlier of (insert a date not later than fourteen (14) days after Closing), or the date Seller vacates the Property. Seller and Buyer, in consideration ofthe provisions set forth below, hereby agree as follows: 1, Seller acknowledges that all appliances, systems and equipment are in good working order and that Seller shall be responsible for the maintenance and repair of all appliances, systems and equipment on the Property for the Term. The following appliances, systems and equipment are not in working order at the time of this Agreement 2. Seller shall not slter, modify, damage or fail (o maintain the Property in its condition at Closing. In the event that the Property is altered, modified, damaged or not maintained by Seller in its condition at Closing, Seller shall pay all costs necessary to correct any alterations, modifications or damage to the Property to restore the Property back to its condition at Closing. 3. Seller shall credit Buyer at Closing a non-refundable lump sum of $ for the Term (" 4. Without a written extension by the Parties,Seller shall vacate the Property no later than midnight of the last day of the Term. IL Seller remains in the Property thereafter ("Holding Over"), such Holding Over shall be a breach of this Agreement. Seller shall ‘continue to be bound by all of the terms and conditions of this Agreement, except that during such Holding Over, for each day that Seller remains in possession of the Property, Seller shall pay to Buyer a hold-over fee of $ per day until Seller vacates the Property or is evicted. 5. Seller shall keep all utilities registered in Seller's name and shall pay the costs of all utilities (sewer, water, gas, clectricity, etc.) during the Term, 6. Seller shall be responsible for lawn maintenance and trash removal during the Term, 7. Seller shall procure and/or maintain in effect a policy or policies of insurance adequately covering Seller's personal property and insuring against any public liability which may arise out of, or by virtue of, the use and occupancy of the Property by Selle, Seller's family and/or agents and employees of Seller. Risk of loss or damage to the Property by fire or other casualty transfers to Buyer at Closing, 8. As of Closing, Buyer shall keep the Property, together with any improvements and any personal property owned by Buyer on or {in the Property, insured for the benefit of Buyer in such amount and to such extent as Buyer determines desirable, 9. Seller shall indemnify and hold Buyer harmless from and against any and all liability, fines, suits, claims, demands, actions, costs, and expenses of any kind or nature whatsoever caused by, or arising out of, or in any manner connected with any damage to the Property occasioned by Seller's use and/or occupancy of the Property during the Term, including intentional or negligent acts by Seller, Seller's family, and/or agents and employees of Seller, or any injury to person or persons, including death, or any damage ‘occurring in or about the Property and resulting from or occasioned by Seller's use and/or occupancy of the Property during the Term, Page | of 2 ‘This form jointly approved by: STANDARD FORM 2A8-T North Carolina Bar Association Revised 1/2011 Bed. North Carolina Association of REALTORS®, eae v2 Buyer Initials Seller Initials Beverly Hanks \sscines 50D Execaive Park Ashville, NC 24801 = Fax, #28-268-4008 admit adint Untied 10. ‘Seller shall not sublet the Property or assign this Agreement. 11, Buyer shall pay the owner's association dues and other like charges, if any, during the Term. 2. Check one: G) pets are allowed on the Property (no pets are allowed on the Property 13, In the event of Seller's breach of this Agreement, Seller may be evicted from the Property pursuant to a summary ejectment proceeding brought before the magistrate in the county whete the Property is located, as provided in Chapter 42 of the North Carolina General Statutes. 14. The losing party in any leyal proceeding brought by Buyer or Seller against the other party for breach of any provision of this Agreement (including an action for summary ejectment) shall be liable for the costs and expenses of the prevailing party, including reasonable attorneys’ fees (at all tribunal levels), 15, TIME IS OF THE ESSENCE with regard to the expiration of the Term, EXCEPT AS SPECIFICALLY MODIFIED HEREIN, ALL OF THE TERMS AND CONDITIONS OF THE CONTRACT SHALL REMAIN IN FULL FORCE AND EFFECT. IN THE EVENT OF A CONFLICT BETWEEN THIS AGREEMENT AND THE CONTRACT, THIS AGREEMENT SHALL CONTROL. THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKE NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN, ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE. FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN IT, eae (SEAL) Date faved (SEAL) Date Seller: (SEAL) Date Seller: (SEAL) Date Page 2 of 2 STANDARD FORM 2A8-T Revised 1/2011 120 oc 1807 Fen te Rak, Fran Magan se26 wnat Unite SHORT SALE ADDENDUM Property Address: ‘The additional provisions set forth below are hereby made @ part of the Offer to Purchase and Contract ("Contract") for the Propert, between Buyer: and Seller: 1. Short Sale Defined. For purposes of this Contract, a "Short Sale" is a sale where: (i) the Purchase Price is or may be insufficient to enable Seller to pay the costs of sale, which include but are not limited to the Seller's closing costs and payment in full of all loans or debts secured by deeds of trust on the Property due and owing to one or more lender(s) and/or other lienholders ("Lienholders"), (ii) Seller does not have sufficient liquid assets to pay the costs of sale, and (ii) the Lienholders agree to release or discharge their liens upon payment of an amount less than the amount secured by their liens with or without the Seller being released from any further liability, 2. Contingency. This Contract is contingent upon Seller obtaining Short Sale approval from Lienholders effective through Closing. ("Lienholders’ Approval") in an amount which will enable Seller to close and convey title in accordance with the Contract. Seller shall use best efforts to obtain Lienholders’ Approval and shall reasonably cooperate in the Short Sale process by providing such documentation as may be required. Buyer and Seller understand that Lienholders' Approval may take several weeks or months 10 obtain, and neither the Seller nor any real estate agent representing Seller or Buyer can guarantee the timeliness of Lienholders! review, approval or rejection. If Lienholders reject the Short Sale, then either party may terminate this Contract by written notice 10 the other party and the Eamest Money Deposit shall be refunded to Buyer. 3. Notice of Lienholders' Approval and Buyer's Right to Terminate. Seller agrees to provide Buyer with written notice of Lienholders' Approval. Buyer may terminate the Contract at any time prior to receipt of the Lienholders Approval by written notice 10 Seller, and, in such event the Eamest Money Deposit shall be refunded to Buyer. 4, No Guarantee of Lienholders' Approval. Buyer and Seller understand that: + No Lienholder is required or obligated to accept a Short Sale + Lienholders may require some terms of the Contract be amended in exchange for approval of @ Short Sale, including acceleration of the Duc Diligence Period and Settlement Date + Buyer and Seller are not obligated to agree to any of Lienholders' proposed terms + NEITHER THE BUYER, THE SELLER, THE SETTLEMENT AGENT NOR THE BROKERS IN THIS TRANSACTION HAVE ANY CONTROL OVER LIENHOLDERS' APPROVAL, OR ANY ACT, OMISSION OR DECISION BY ANY LIENHOLDERS IN THE SHORT SALE PROCESS. S.No Repairs. Buyer acknowledges that Seller may not be financially able to make any repairs to the Property that Buyer may request. This acknowledgement shall not affect any rights that Buyer may have under the Contract to terminate the Contract as a result of any election Seller may make not to make repairs. 6. Other Offers. Buyer and Seller understand that additional offers may be received by the Seller's Agent, which must be presented to the Seller and to Lienholders pursuant to North Carolina law. Such offers may be accepted by the Seller as backup contracts and forwarded to Lienholders for review and approval. Buyer and Seller are advised to seek advice from an attomey to determine their rights and obligations. 7. Foreclosure. Seller represents that to the best of Seller's knowledge, a foreclosure proceeding Dihas not CYhas been filed with respect to the Property. Further, if during the Short Sale process a foreclosure proceeding is filed, the Seller shall disclose such foreclosure filing to the Buyer. Buyer and Seller understand that if Closing does not oceur before the completion of a foreclosure of the Property, Seller will lose all rights and interest in the Property. In such event, the Contract shall be void, and the Eamest Money Deposit shall be refunded to Buyer. Seller and Buyer acknowledge that if @ real estate agent involved in the transaction contemplated by the Contract knows or reasonably should know that a foreclosure proceeding with respect to the Property has been filed, the agent is required by law to disclose it to the Buyer as a material fact. Page 1 of 2 This form jointly approved by: STANDARD FORM 2A14-T North Carolina Bar Association Revised 1/2011 North Carolina Association of REALTORS®, Ine. = © 12011 Buyer initials Seller initials Bevety-Hanks & Associates 300 Exconive Park Asheville, NC 28801 Pome: 8242547227 Fax #28-255-8998 in adit Unni 8 Tax Consequences and Advice. Seller is advised to seek advice from an attomey, a certified public accountant or other professional regarding the credit, legal and tax consequences of a Short Sale IN THE EVENT OF A CONFLICT BETWEEN THIS ADDENDUM AND THE OFFER TO PURCHASE AND CONTRACT OR HE VACANT LOT OFFER TO PURCHASE AND CONTRACT, THIS ADDENDUM SHALL CONTROL. THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKE NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN IT. Buyer Buyer: Seller: Seller (SEAL) (SEAL) (SEAL) (SEAL) Page 2 of2 Pediat wt ipfom® by niteg “070 Fen Mie Rove, Fas, Megan C26 wei Date Date Date Dae STANDARD FORM 2A14-T Revised 1/2011 ©1011 nits ran grils ADDENDUM TO SALE CONTRACT This Addendum is hereby attached and made a part of Sale Contract dated between Seller, and Purchaser, of property known as In the event of any conflict between this Addendum and the Sale Contract of which it is a part, the terms of this Addendum shall control. ‘Agreed to thle the SS dayop a. PURCHASER (Seal) SELLER: (Sealy PURCHASER (Seal) SELLER; (Seat) Selling Agent: Listing Agent Selling Company Listing Company: — ADDENDUM TO SALE CONTRACT «nis Addendum is hereby attached and made a part of Sale Contract dated between Seller, and Purchaser, of property known as ee AREA REGIONAL AIRPORTS: Buyer acknowledges awareness of and possible noise associated with area regional airports. Many types of aircraft operate from these regional airports with varying traffic patterns depending on the wind and the weather conditions. The three main regional airports are: i) the Asheville Regional Aitport which is located near Interstate 26 at mile marker 40, ii) the Hendersonville Airport which is located at 1232 Shephard Street, Hendersonville; and ili) the Transylvania County Airport which is located on Old Hendersonville Road, Penrose. The Buyer may desire to contact these regional airports to inquire into flight patterns and ‘any other matters or concerns which the Buyer may have as to such airports. The Buyer may contact these airports at: i) Asheville Regional Airport, Post Office Box 817, Fletcher, NC 28732 [828-684-2226]: ii) Hendersonville Airport, 1232 Shephard Street, Hendersonville, NC 28792 [828-693-1897], ii) Transylvania County Airport, Post Office Box 1390, Etowah, NC 28729 [828-877-5801], Other small airports or landing strips are located throughout Wester North Carolina and Buyer(s) is advised to seek ‘out those which they feel may adversely affect the Property being purchased prior to closing. CLOSING SHALL CONSTITUTE, ACCEPTANCE OF THIS PROVISION, AND ALL OTHER CONDITIONS OF THE PROPERTY, BY THE BUYER(S). In the event of any conflict between this Addendum and the Sale Contract of which it is a part, the terms of this addendum shall control. Agreed to this the day of 20. Purchaser: (seay Seller: (sean Purchaser: (sean Seller: (sean Selling Agent Listing Agent: Selling Company: Listing Company: k= AGREEMENT TO AMEND CONTRACT WARNING: ALL PARTIES, INCLUDING ANY LENDER AND SETTLEMENT AGENT MUST BE PROVIDED A COPY OF THIS AGREEMENT as Buyer, and + as Seller, have entered into a contract on the Offer to Purchase and Contract (form 2-T) or the Offer to Purchase and Contract ~ Vacant Lot/Land (form 1 1) ("Contract") regarding the purchase and sale of the following property (insert property address) (Property’). Buyer and Seller hereby agree to amend the Contract as set forth below [ check applicable box(es) } Purchase Price. The Purchase Price is hereby changed to: $ O Additional Earnest Money. $ Additional Eamest Money Deposit shall be paid to Escrow Agent no Tater than TIME BEING OF THE ESSENCE with regard to sid dat Q Building Deposit. The building deposit is hereby changed to: $ Q Due Ditigence Fee. The Due Diligence Fee paid to Seller is hereby changed to: $ Q Due Diligence Period. The expiration date of the Due Diligence Period is hereby changed to: Settlement Date. The Settlement Date is hereby changed to: Expenses. The amount Seller shall pay at Settlement toward Buyers expenses associated with the purchase of the Property is hereby changed to: $ Al terms and conditions of the Contract not specifically amended herein shall remain in full force and effect, THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. Buyer: Date Seller: Date Buyer: Date Seller: Date Page 1 of 1 North Carolina Association of REALTORS®, Inc. STANDARD FORM 330-T Revised 1/2011 mire Seller initials __________ Buyer initials —__ Say ©1201 CONFIRMATION OF COMPENSATION See Guidelines (Standard Form 770G) on proper use ofthis form. Property Address: ("Property") © Buyer o CF Setter: ("Client Real Estate Firm: (Fim") 1, Disclosure. A real estate firm is required by law to timely disclose to their client the receipt of (or promise or expectation of receiving) any compensation, incentive, bonus, rebate and/or other valuable consideration of more than nominal value ("Compensation") from any other party or person in a real estate sales transaction and confirm such disclosure in writing before ‘making or accepting any offer. 2. Confirmation. Firm hereby confirms that in connection with the sale or purchase of the Property, Firm expects to receive the {following Compensation (check all applicable boxes): OF Monetary: § or, percent of sales price of Property received/to be received from 1 Non-monetary: (describe) receivedito be received from ‘estimated value: $ O Otter: THE NORTH CAROLINA ASSOCIATION OF REALTORS, INC. MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION, Real Estate Firm Name By: Date: Individual agent signature ACKNOWLEDGEMENT BY CLIENT Client hereby acknowledges receipt of a completed copy of this form. Client: Date: Client: Date: Page 1 of 1 North Carolina Association of REALTORS®, Ine. STANDARD FORM 770 Revised 1/2011 for ©1201 cits 300 Executive Park Asheville, NC 2801 Fax: 628-256-9008, ‘int adn! United every-Hanks & Phone 824-284-72: UNREPRESENTED SELLER DISCLOSURE AND FEE AGREEMENT (Selling Agent Represents the Buyer) ‘This Agreement is entered into on (Date) by and between as "Owner(s)", and (Firm) RECITALS: A. Owner is the owner of property commonly known as (the "Property”) B. Owner is endeavoring to sell the Property without the assistance of a licensed real estate agent; however, Firm has a client, ("Client") who would like io see The Property. C. If Owner sells the Property to Firm's Client, Owner agrees to pay Firm a fee of ("Fee"), D. THE AGENT (FIRM) SHALL CONDUCT ALL BROKERAGE ACTIVITIES IN REGARD TO THIS AGREEMENT WITHOUT RESPECT TO THE RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, HANDICAP OR FAMILIAL STATUS OF ANY PARTY OR PROSPECTIVE PARTY TO THE AGREEMENT. Accordingly, the parties agree as follows: 1, FEE. The Fee will be deemed earned if Owner enters into a contract to sell the Property to Firm's Client at any time within days from the date Owner signs this Agreement. Once camed, the Fee will be due and payable at the Carlier of closing or Sellers failure to sell the Property as a result of Seller's default om the contract. HOWEVER, if, prior to the expiration of this Agreement and the execution of @ contract to sell the Property, Owner enters into a valid listing agreement with another real estate firm, Owner shall NOT be obligated to pay the Fee if the listing firm offers compensation to Firm through a ‘multiple listing service or otherwise. 2, BUYER AGENCY. Owner acknowledges that Firm is the agent representing Client with respect to the Property. As the agent of Client, the Firm has the duty to act on behalf of the Client, and will not be acting on behalf of Owner. This duty requires that all information regarding this transaction given to the Firm by Owner be disclosed to Client. For example, if Owner discloses to Firm that Owner is compelled by outside circumstances to sell by a certain date, or that Owner is prepared to lower the price, the Firm ‘would be required to disclose this information to Client, Owner is advised to keep this in mind when communicating with Firm. By signing this Agreement, Owner acknowledges that this Client agency relationship has been previously orally disclosed to Owner when Firm first discussed an appointment to show Property to Client. DO NOT SIGN THIS FORM UNTIL YOU HAVE RECEIVED AND READ THE “WORKING WITH REAL ESTATE AGENTS” BROCHURE. ‘Owner and Firm cach acknowledge receipt of a signed copy of this document. THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION, OWNER(S): FIRM: By Date: Date: Page 1 of 1 STANDARD FORM 150 Revised 1/2011 ©1201 = ‘cured wth 2pFem6 by solagh: 1207 Fen Mie Roe, rea Megan 4036 web. CONFIRMATION OF AGENCY RELATIONSHIP, APPOINTMENT & COMPENSATION NOTE: When working with an Unrepresented Seller (For Sale By Owner) you should use Form 150. See Guidelines (Standard Form 220G) on proper use of this form. 20 LISTING AGENT: FIRM NAME: FAXt: Email FROM SELLING AGENT: FIRM NAME: FAXt Email Thank you for checking with your seller and permitting me to show your listing ase] bayeragent C] aibagent of lien PROPERTY DESCRIPTION: NAME OF BUYER: APPOINTMENT DATE TIME: FEE ARRANGEMENT (a) You hereby confirm that your offer of compensation to my firm regarding any sale of the Property to Buyer shall be as follows: {understand that my firm's entitlement to the compensation set forth above will be determined by my performance as the procuring cause of any sale of the Property to Buyer. Your signature on this document does not constitute an acknowledgment that I am the procuring cause of any such sale. (b) If I have received or am to receive any other fee(s) in connection with the sale of the Property, I hereby confirm that such fee(s) are as follows: lease sign below and fax or email this Confirmation back to me at your earliest convenience. Please call me at my office: or at if there are any further instructions or communications prior to the showing. Thank you for your cooperation. THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. Tisting Agent Dare Selng Ager Dae (7 Payer agent [1] Subagent of Seller ACKNOWLEDGEMENT BY BUYER AND/OR SELLER (Optional —see Guidelines) Seller hereby acknowledges receipt of a copy of this form and consents to the fee arrangements set forth herein, Seller Seller Date: Date: Buyer hereby acknowledges receipt of a copy of this form and consents to the fee arrangements set forth herein Buyer: Buyer: Date: Date: Page 1 of 1 STANDARD FORM 220, North Carolina Association of REALTORS®, Inc. Revised 1/2011 Fare ©1011 RESPONSE TO BUYER'S OFFER To: RE: OFFER TO PURCHASE Property Address Dated: ‘Thank you for your offer to purchase the above property (the "Property"), Tiwe cannot accept the offer as written and hereby reject it. However, while this isnot a counter offer, we would favorably consider the following changes: If the above changes are acceptable to you, please submit another offer with the noted changes. It is further understood that until an offer has been accepted, I/we are free to consider and may accept any other offers to purchase presented that contain terms and conditions satisfactory to me/us in my/our sole discretion. THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. Seer Date Tine Seller Dare Time Page 1 of | North Carolina Association of REALTORSS, Ine. STANDARD FORM 340-7 Revised 7/2008 Fore = 12011 Bevery-Hanks & Assos 300 Executive Park Ashevile, NC 28801 Phone 826-254-7231 Fan 828-285-4004 tdmint edint Untied AGENCY AGREEMENT RENEWAL AND/OR AMENDMENT this AGENCY AGREEMENT RENEWAL AND/OR AMENDMENT renews and/or amends the following agency agreement (referred to hereafter asthe "Agency Agreement”) NCAR Form #101 (Exclusive Right wo Sell Listing Agreement) dated NCAR Form #103 (Exclusive Right to Sell Listing Agreement (Vacant Lot/Land) dated NCAR Form #201 (Exclusive Buyer Agency Agreement) dated NCAR Form #203 (Non-Exclusive Buyer Agency Agreement) dated NCAR Form #601 (Exclusive Right to Sell Listing Agreement - Auction Sales) dated centered into by and between and Real Estate Finn ("Firm") Property Address/MLSi (if applicable): Client and Firm agree that the Agency Agreement is hereby renewed and/or amended in the manner indicated below (Fil! in applicable blanks; enter "N/A" in any blank not used) : Renewed and extended until midnight, In the event thatthe term ofthe Agency Agreement has expired, Client and Firm specifically agree that this Agency Agreement Amendment and/or Renewal shall ‘operate to revive the Agency Agreement for the agreed-upon period of time, Price shall be changed from $ oS. Other amendments: All terms and conditions of the Agency Agreement not specifically amended herein shall remain the same. Client and Firm each hereby acknowledge receipt of a signed copy of this document. ‘THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION, Client Date Client Date Firm (Firm Name) By Date ‘Authorized Representative Page 1 of 1 . STANDARD FORM 710 ‘North Carolina Association of REALTORS®, Inc. Revised 1/2011 ear ©1201 5 Listing Agent/Seller Request for information Beverly Offer to Purchase and Contract: Paragraph 8(a) To: Listing Agent: Fax #: sees From: Selling Agent Fax #: Email Date: Property Address: Seller(s) Name(s): Buyer(s) Name(s): Boverly-Hanks & Associates is pleased to assist with this transaction. As you know, in the Offer to Purchase and Contract, Paragraph 8(a) states the Seller is to quickly provide copies of all title information. These documents supply the Buyer with important information and assist the closing attorney with preparations for Settlement, To insure that your sale progresses as smoothly as possible, we request copies of the following documents: * Title Insurance Policies * Notes and Deeds of Trust * Easements Please include any other documents you believe would be informative or valuable to the Buyer or Buyer's attorney. Should you have any questions, please do not hesitate to ask your agent, or reference Paragraph 8(a) Evidence of Title of your Offer to Purchase and Contract below: EVIDENCE OF TITLE: Setler agrees to use hi best efforts to deliver to Buyer as soon as reasonably possible after the Effective Date, copies Of all file formation in possession of or avalable to Seller, including but no limited ttle insurance polices attorneys opinions on te, Surveys, covenants, dead, notes and deeds of Yust and easements rating to Pe Property. Sele authorizes (1) any atterey presently or previously representing Seller to release ane ciscosure any tite insurance policy in such attorneys fle to Buyer an¢ both Buyes's and Seller's gents and atlomeys: and (2) he Property's tie incur or Its agont to release anc dlscose all materials in the Property tite insurers (or tie insurers agent's) le o Buyer and both Buyer's ane Seber’ agents ard atiomeys. ‘Thank you for your expedient response. It will help insure that we remain in compliance with the agreed upon closing dates required in the contract and assist with providing a smooth closing, COMMISSION DISCLOSURE STATEMENT Payment of Marketing Fee and Disclosure of Fee Division. Buyer understands that included in any construction contract with (Builder) is a commission fee of six percent (6%) of the total sales price (which shall include the cost of all improvements) which shall be paid by. (Builder) to Beverly-Hanks & Associates. Beverly-Hanks & Associates may pay co-broker fees from the sales commission. Beverly-Hanks & Associates will be paid said commission as follows: % of gross sales price of lot, due at closing % of total gross of construction costs of all improvements, due at closing -OR- % of gross sales price of lot and total gross construction costs of all improvements, due at closing 1 (We) acknowledge receipt of this Disclosure Statement, this the day of. (SEAL) (SEAL) Buyer Buyer (SEAL) Beverly-Hanks & Associates LoT#. Street Neighborhood. Legal Description, SYNTHETI > STUCCO DISCLOSURE STATEMENT Notice to Owner and Purchaser Synthetic stucco, also known as exterior insulating and finishing system, is used as an exterior finish in home and ‘other buildings. ‘The use of synthetic stucco as an exterior finish may increase the risk of excessive moisture inthe walls or structural components of the building. Excessive moisture overtime may cause wood to rot and other ‘materials to deteriorate. Moisture drainage is difficult to detect. A thorough inspection by a qualified professional is highly advisable. The North Carolina Real Estate Commission is the licensing agency for real estate professionals in North Carolina The Commission has determined that the presence of synthetic stucco is a material fact about the property. Material facts are required to be disclosed to prospective purchasers ofthe property and their agents Property Address/Description: Owners: The undersigned Owners of the real property described above make the following disclosure and agreements: 1. Please intial one ofthe following: (@) Synthetic stucco has been used in the construction of the above property (©) Symtheti stucco has not been used in the construction of the above property. (©) 1 do not know whether synthetic stucco was used in the construction of the above property, ‘but will it inspected. (2) 1 do not know whether synthetic stucco has been used in the construction of the above property, and will not have the property inspected, 2 T understand that this Disclosure Statement will be part of my real estate agent's file on the property: 3. Tunderstand that my real estate agent must provide this Disclosure Statement to prospective purchasers and their agents {in connection with the sale of the property. My real estate agent may make photocopies of this Disclosure Statement which shall have the same effect as an original 4, After the date hereof, I will disclose any material change or inaccuracy in this Disclosure Statement. ‘The Owner(s) acknowledge having fully read and signed this Synthetic Stucco Disclosure Statement on the date indicated below. OWNER Date ‘OWNER. Date ‘The undersigned purchaser(s) or prospective purchaser(s) acknowledge receipt of a copy of this Synthetic Stucco Disclosure Statement and acknowledge that they have read it, PURCHASER Date PURCHASER Date LISTING AGENT: SELLING AGENT: Asheville Board of REALTORS®, Inc. © April, 1996 Form # RAS: 75090-1 Beverly BS Ere cTs closure ‘This attachment is hereby made a part of the Residential Property Disclosure date regarding property located a ‘The subject property is bordered by or near the former CTS manufacturing facility, which factory or facility is generally recognized in the community as having environmental contamination issues or concerns. Itis the Buyers sole responsibility to investigate to their satisfaction any and all concerns they may have regarding this Questions concerning this property may be directed to the North Carolina Division of Waste Management, Superfund Section, Inactive Hazardous Sites Branch, 401 Oberlin Road, Suite 150, Raleigh, NC 27605, Phone 919-508-8400 or http://wastenot.enr-state.nc.us/sfhome/ihsbrach.htm, (Owners Initials and Date: (Owners Initials and Da Purchaser Initials and Date: Purchaser Initials and Date: OFFER TO PURCHASE AND CONTRACT - VACANT LOTILAND {Consult "Guidelines" (form 12G) for guidance in completing this form] NOTE: This contract is intended for unimproved real property that Buyer will purchase only for personal use and does not have immediate plans to subdivide. It should not be used to sell property that is being subdivided unless the property has been platte* properly approved and recorded with the register of deeds as of the date of the contract. If Seller is Buyer's builder and the sale involy the construction of a new single family dwelling prior to closing, use the standard Offer to Purchase and Contract—New Construction. (Form 800-T) or, if the construction is completed, use the Offer to Purchase and Contract (Form 2-T) with the New Construction Addendum (Form 23-1). For valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged. Buyer offers to purchase and Seller upon acceptance agrees to sell and convey the Property on the terms and conditions of this Offer To Purchase and Contract and any addendum or modification made in accordance with its terms (together the "Contract"). 1. TERMS AND DEFINITION: The terms listed below shall have the respective meaning given them as set forth adjacent to each (a) "Seller", (b) "Buyer" (©) "Property": The Property shall include all that real estate described below together with all appurtenances thereto including the improvements located thereon. Street Address: City: Zip County: ~ North Carolina (NOTE: Governmental authority over taxes, zoning, school districts, ulitcs and mail delivery may differ from address shown.) Legal Description: (Complete ALL applicable) Plat Reference: Lov Unit + Block/Seetion. . Subdivision/Condominium WS shown on Plat Book’Slide aiPagey The PINPID or other identification number of the Property i Other description: ‘Some or all of the Property may be described in Deed Book ‘ai Page (@ "Purchase Price”: s paid in U.S. Dollars upon the following terms: § BY DUE DILIGENCE FEE made payable to Seller 5 BY INITIAL EARNEST MONEY DEPOSIT made payable to Escrow Agent named in Paragraph 1(f) with this offer by [) cash C) personal check C) official bank check [itchec ome! ato ueei ie oma uae lea s BY (ADDITIONAL) FARNEST MONFY DEPOSIT made payable Frorow Agent named in Paragraph 1(f) by cash or immediately available funds such as official bank check or wire transfer to be delivered to Escrow Agent no later than . TIME BEING OF THE ESSENCE with Tegard to said date. 8 BY ASSUMPTION of the unpaid principal balance and all obligations of Seller on the existing loan(s) secured by a deed of trust on the Property in accordance with the attached [Loan Assumption Addendum (Standard Form 2A6-T), 5 BY SELLER FINANCING in accordance with the attached Seller Financing Addendum (Standard Form 2A5-1). 5 BALANCE of the Purchase Price in cash at Settlement (some or all of which may be paid with the proceeds of a new loan) Should Buyer fail to deliver either the Due Diligence Fee or any Initial Earnest Money Deposit by the Effective Date, or should any check or other funds paid by Buyer be dishonored, for any reason, by the institution upon which the payment is drawn, Buyer shall Ihave one (1) banking day after written notice to deliver good funds to the payee. In the event Buyer does not timely deliver good funds, Seller shall have the right to terminate this Contract upon written notice to Buyer. Page 1 of 8 STANDARD FORM 12-7 Revised 1/2011 EAD, north Carotina Association of REALTORS®, Inc. oa ©1011 Buyer initials Seller initials Bevery-Haks & Ascites 300 Exc Park Ase, NC 28401 Prone at 2-121 Tox S20 2558008 mia! adn! Unies (©) "Earnest Money Deposit": The Initial Eamest Money Deposit, the Additonal Eamest Money Deposit and any other eamest ‘monies paid in connection with this transaction, hereinafter collectively referred to as "Earnest Money Deposit’, shall be deposited and held in escrow by Escrow Agent until Closing, at which time it will be credited to Buyer, or until this Contract is otherwise terminated. In the event (1) this offer is not accepled; or (2) a condition of any resulting contract isnot satisfied, then the Eamest Money Deposit shall be refunded to Buyer. In the event of breach of this Contract by Seller, the Earnest Money Deposit shall be refunded to Buyer upon Buyer's request, but such return shall not affect any other remedies available to Buyer for such breach. Inthe event of breach of this Contract by Buyer, the Earnest Money Deposit shall be paid to Seller upon Sellers request as liquidated damages and as Seller's sole and exclusive remedy for such breach, but without limiting Seller's rights under Paragraphs 2(c) and 244) for damage to the Property or Seller's right to retain the Due Diligence Fee. Its acknowledged by the parties that payment of the Eamest Money Deposit to Seller in the event of a breach of this Contact by Buyer is compensatory and not punitive, such amount being a reasonable estimation of the actual loss that Seller would incur as a result of such breach. The payment of the Eamest Money Deposit o Seller shall not constitute a penalty or forfeiture but actual compensation for Seller's anticipated loss, both parties acknowledging the difficulty determining Seller's actual damages for such breach. I legal proceedings are brought by Buyer or Seller against the other to recover the Eamest Money Deposit the prevailing party inthe proceeding shal be ented to recover ffom the non-prevaling party reasonable attorney fees and court costs incurred in connection with the proceeding (9 "Escrow Agent" (insert name): (NOTE: In the event of a dispute between Seller and Buyer over the disposition of the Eamest Money Deposit held in escrow, a licensed real estate broker ("Broker") is required by state law (and Escrow Agent, if not a Broker, hereby agrees) to retain the Eamest Money Deposit in the Escrow Agent's trust or escrow account until Escrow Agent has obtained a written release from the parties consenting to its disposition or until disbursement is ordered by a cour of competent jurisdiction. Alternatively, if'a Broker is holding the Earnest Money Deposit, the Broker may deposit the disputed monies with the appropriate clerk of court in accordance with the provisions of N.C.G.S. §93A-12,) THE PARTIES AGREE THAT A REAL ESTATE BROKERAGE FIRM ACTING AS ESCROW AGENT MAY PLACE THE EARNEST MONEY DEPOSIT IN AN INTEREST BEARING TRUST ACCOUNT AND THAT ANY INTEREST EARNED THEREON SHALL BE DISBURSED TO THE ESCROW AGENT MONTHLY IN CONSIDERATION OF THE EXPENSES INCURRED BY MAINTAINING SUCH ACCOUNT AND RECORDS ASSOCIATED THEREWITH, (g) “Effective Date": The date that: (1) the last one of Buyer and Seller has signed or initialed this offer or the final counteroffer, if any, and (2) such signing or initialing is communicated to the party making the offer or counteroffer, as the case may be. (iy) "Due Diligence"; Buyer's opportunity during the Due Diligence Period to investigate the Property and the transaction contemplated by this Contract, including but not necessarily limited to the matters described in Paragraph 2 below, to decide whether Buyer, in Buyer's sole discretion, will proceed with or terminate the transaction. (i), "Due Diligence Fee": A negotiated amount, if any, paid by Buyer to Seller with this Contract for Buyer's right to conduct Due Diligence during the Due Diligence Period. It shall be the property of Seller upon the Effective Date and shall be a credit to Buyer at (Closing. The Due Diligence Fee shall be non-refundable except in the event of @ material breach of this Contract by Seller, or if this Contract is terminated under Paragraph 6(1) or Paragraph 9, or as otherwise provided in any addendum hereto. Buyer and Seller each expressly waive any right that they may have to deny the right to conduct Due Diligence or to assert any defense as to the enforceability of this Contract based on the absence or alleged insufficiency of any Due Diligence Fee, it being the intent of the parties to create a legally binding contract for the purchase and sale of the Property without regard to the existence or amount of any Due Diligence Fee. () "Due Diligence Period": The period beginning on the Effective Date and extending through 5:00 pm. on TIME BEING OF THE ESSENCE with regard to Said date (b) “Settlement”: The proper execution and delivery to the setlement agent of all documents necessary to complete the transaction contemplated by this Contract, including the deed, settlement statement, deed of trust and other loan or conveyance documents, and ‘the settlement agent's receipt of all funds necessary to complete such transaction, ("Settlement Date": The parties agree that Settlement will take place on (the "Settlement Date"), unless otherwise agreed in writing, at a time and place designated by Buyer. Page 2 of 8 STANDARD FORM 12-T Revised 1/2011 Buyer initials Seller initials ©1011 rotund wth For ysolagn 1270 Fen le Ron. rr, Megan 8626 waiLan.can nuit (m) "Closing": The legal process which results in the transfer of title to the Property from Seller to Buyer. Closing includes the following steps: (I) the Settlement (defined above): (2) the completion of a satisfactory title update to the Property following the Settlement: (3) the settlement agent's receipt of authorization to disburse all necessary funds; and (4) recordation in the appropriate ‘county regisiry of the deed(s) and deed(s) of trust if any, which shall take place as soon as reasonably possible for the settlemen’ agent afler Settlement. Upon such recordation of the deed(s) and deed{s) of trust, if any, Closing shall be deemed completed and 1 proceeds of sale shall be disbursed by the settlement agent in accordance with the settlement statement and the provisions of Chapt. 45A of the North Carolina General Statutes. If the title update should reveal unexpected liens, encumbrances or other ttle defects, o if the settlement agent is not authorized to disburse all necessary funds, then the Closing shall be suspended and the Settlement deemed delayed under Paragraph 10 (Delay in Settlement/Closing), (n) "Special Assessments": A charge against the Property by a governmental authority in addition to ad valorem taxes or by an owners’ association in addition to any regular assessment (dues), either of which may be a lien against the Property. A Special Assessment may be either proposed or confirmed. “Proposed Spe to Settlement. I Assessment": A Special Assessment that is under formal consideration but which has not been approved prior "Confirmed Special Assessment": A Special Assessment that has been approved prior to Settlement whether or not itis fully payable at time of Settlement, BUYER'S DUE DILIGENCE PROCESS: (a) Loan: During the Due Diligence Period, Buyer, at Buyers expense, shall be entitled to pursue qualification for and approval of the Loan ifany. NOTE: Buyer is advised to consult with Buyer's lender prior to signing this offer to assure that the Due Diligence Period allows sufficient time for the appraisal to be completed and for Buyer's lender to provide Buyer sufficient information to decide whether to proceed with or terminate the transaction. (©) Property Investigation: During the Due Diligence Period, Buyer or Buyer's agents or representatives, at Buyers expense, Shall be entitled to conduct all desired tests, surveys, appraisals, investigations, examinations and inspections of the Property as Buyer deems appropriate, including but NOT limited to the following: {@) Soil, Utlties’ And Environmental: Repons to determine whether the soil is suitable for Buyer's intended use and wheter here isany enonmentat contamization, fw, role or regulation that may prohibit, reset or Him Buyer's intended use (i) Septie/Sewer System: Any applicable investigaion(s) to determine: (1) the condition of an existing sewage system, ( the costs and expenses to insall a sewage system approved by an existing Improvement Permit, (3) the availability ane expense to comect to @ public or community sewer system, andior (4) whether an Improvement Permit or written evaluation may be obtained from the County Health Department fora suitable ground absorption sewage system. Water: Any applicable investigation(s) to determine: (1) the condition of an existing private drinking water well, (2) the costs and expenses 10 install private drinking waicr well approved by an existing Construction Permit, (3) the availability, costs and expenses to connect to a public or community water system, or a shared private well, andlor (4) ‘whether a Construction Permit may be obtained from the County Health Department fora private drinking water well. (iv) Review of Documents: Review ofthe Declaration of Restrictive Covenants, Bylaws, Articles of Incorporation, Rules and Regulations, and other governing documents of any applicable owners association andlor subdivision. Ifthe Property is subject to regulation by an owners’ association, it's commended that Buyer review the completed Owner’ Association Disclosure And Addendum (Standard Form 2Ai2-T) provided by Seller prior to signing this offer. Appraisals: Aa appraisal of the Property: Survey: A survey to determine whether there are any encroachments on the Property from adjacent properties (fences, driveways, et), encroachments from the Property onto adjacent properties, road or uility easements crossing the Proper, lack of legal access to a public right-of-way, or indefinite Or erroneous legal descriptions in previous decd to the Property (vi) Zoning and Governmental Regulation: Investigation of current or proposed zoning or other governmental regulation that may affect Buyers intended use of the Property, adjacent land uses, planned or proposed road construction, and school atendance zones. (viii) Flood Hazard: Investigation of potential flood havards on the Property, andlor any requirement to purchase flood insurance in order to obtain the Loan. Page 3 of 8 rANDARD FORM 12- Revised 1/2011 Buyer initials Seller initials eee ©1201 e008 wee schoo United (c) Buyer's Obligation to Repair Damage: Buyer shall, at Buyer's expense, promptly repair any damage to the Property resulting from any activities of Buyer and Buyer's agents and contractors, but Buyer shall not be responsible for any damage caused by accepted practices applicable to any N.C. licensed professional performing reasonable appraisals tests, surveys, examinations and inspections of the Property. This repair obligation shall survive any termination of this Contract. (@) Indemnity: Buyer will indemnify and hold Seller harmless from all loss, damage, claims, suits or costs, which shall arise out of any contract, agreement, or injury to any person or property as a result of any activities of Buyer and Buyer's agents and contractors relaiing to the Property except for any loss, damage, claim, suit or cost arising out of pre-existing conditions of the Property and/or out of Seller's negligence or willful ats Gr omissions. This indemnity shall survive this Contract and any termination hereof, (©) Buyer's Right to Terminate: Buyer shall have the right to terminate this Contract for any reason or no reason, by delivering to Seller written notice of termination (the "Termination Notice") during the Due Diligence Period (or any agreed-upon written extension of the Duc Diligence Period), TIME BEING OF THE ESSENCE .\f Buyer timely delivers the Termination Notice, this Contract shall be terminated and the Eamest Money Deposit shall be refunded to Buyer. WARNING: If Buyer is not satisfied with the results or progress of Buyer's Due Diligence, Buyer should terminate this Contract, prior to the expiration of the Due Diligence Period , unless Buyer can obtain a writen extension from Seller. SELLER 1S NOT OBLIGATED TO GRANT AN EXTENSION. Buyers failure to deliver a Termination Notice to Seller prior to the expiration of the Due Diligence Period shall constitute a waiver by Buyer of any right to terminate this Contract based on any matter relating to Buyer's Due Diligence. NOTE: Following the Due Diligence Period, Buyer may still exercise a right to terminate this Contract for any other reason permitted under the terms of this Contract or North Carolina law. (Q). CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION UNLESS PROVISION IS OTHERWISE MADE IN WRITIN BUYER REPRESENTATIONS: (2) ‘Loan: Buyer C1 does C2 does not have to obtain a new loan_in order to purchase the Property. If Buyer is obsaining a new Joan, Buyer intends to obtain a loan as follows: L Conventional L) Other: Ton ata Fixed Rate Q Adjusiable Rate in the principal amount of Tera tem of Fear(s), at 9 initial inteestrate not o exceed % per annum (he "Loan" NOTE: If Buyer represents that Buyer does not have to obtain @ new loan in order to purchase the Property, Seller is advised, prior to signing this offer, to obtain documentation from Buyer which demonstrates that Buyer will be able 10 close on the Property ‘without the necessity of obtaining a new loan. (©) Other Property: Buyer O) does [) does not have to sell or lease other real property in order to qualify for a new loan or to complete purchase. (NOTE: If Buyer does have to sell, Buyer and Seller should consider including 2 Contingent Sale Addendum (Standard Form 2A2-T) with this offer.) (©) Performance of Buyer's Financial Obligations: To the best of Buyer's knowledge, there are no other circumstances or conditions existing as of the date of this offer that would prohibit Buyer from performing Buyer's financial obligations in accordance ‘with this Comtract, except as may be specifically set forth herein. BUYER OBLIGATIONS: (a) Owners' Association Fees/Charges: Buyer shall pay any fees required for confirming account payment information on ‘owners’ association dues or assessments for payment or proration and any charge made by the overs’ association in connection with the disposition of the Property to Buyer, including any transfer and/or document fee imposed by the owners’ association. Buyer shall not be responsible for fees incurred by Seller in completing the Owners’ Association Disclosure and Addendum (Standard Form 2A12-T), (b) Responsibility for Proposed Special Assessments: Buyer shall take title subject to all Proposed Special Assessments disclosed by Seller in Paragraph 5(b) if any. Page 4 of 8 STANDARD FORM 12-T Revised 1/2011 Buyer initials Seller initials 12011 Peavena win xpFome 28.0 170 Fee la Rose. Faby, Menge 8028 weg cee Umit (©) Responsibility for Certain Costs: Buyer shall be responsible for all costs with respect to any loan obtained by Buyer, appraisal, ttle search, title insurance, recording the deed and for preparation and recording of all instruments required to secure the balance of the Purchase Price unpaid at Settlement. SELLER REPRESENTATIONS: (a) Ownership: Seller represents that Seller: D7 has owned the Property for at least one year. G7 hias owned the Property for less than one year. does not yet own the Proper. (b) Assessments: To the best of Seller's knowledge there are no Proposed Special Assessments except as follows (Insert "None" or the identification of such assessments, if any) Seller warrants that there are no Confirmed Special Assessments except as follows (Insert "None” or the identification of such assessments, ifany) (©) Owners’ Association(s) and Dues: To best of Seller's knowledge, ownership of the Property [) subjects [) does not subject Buyer to regulation by one or more owners’ association(s) and governing documents, which impose various mandatory covenants ‘conditions and restrictions upon the Property and Buyer's enjoyment thereof, including but not limited to obligations to pay regular assessments (dues) and Special Assessments, If there is an owners! association, then an Owners! Association Disclosure and ‘Addendum (Standard Form 2412-T) shall be completed by Seller, at Seller's expense, and must be attached as an addendum to this Contract. (4) Sewage System Permit: (( Applicable Q) Not Applicable) Seller warrants that the sewage system described in the t Permit attached hereto has been installed, which representation survives Closing, but makes no further representations (©) Private Drinking Water Well Permit: (J Applicable J Not Applicable) Seller warrants that a private drinking water well hhas been installed, which representation survives Closing, but makes no further representations as to the well. (If well installed after July 1, 2008, attach Improvement Permit hereto. SELLER OBLIGATIONS: (@) Evidence of Title: Seller agrees to use best efforts to deliver to Buyer as soon as reasonably possible after the Effective Date, copies of al tile information in possession of or available to Selle. including but not limited to: ttle insurance policies, ttorney’= ‘opinions on tile, surveys, covenants, deeds, notes and deeds of wust and easements relating tothe Property. Seller authorizes (1) at attomey presently oF previously representing Seller to release and disclose any title insurance policy in such attomey’s filet Buye. land both Buyers and Sellers agents and attomeys; and (2) the Property’s tite insurer or its agent to release and disclose all materials inthe Property tile insurer's (or til insurers agent's) file to Buyer and both Buyers and Seller’ agents and attomeys. (b)_ Access to Property: Seller shall provide reasonable access to the Property (including working, existing utilities) through the ‘earlier of Closing oF possession by Buyer. To the extent applicable, Seller shall also be responsible for timely clearing that portion of the Property required by the County to perform tests, inspections and/or evaluations to determine the suitability of the Property for a sewage system and/or private drinking water well (c)_ Removal of Seller's Property: Seller shall remove, by the date possession is made available to Buyer, all personal property ‘which is not a part of the purchase and all garbage and debris from the Property, (@) Affidavit and Indemnification Agreement: Seller shall furnish at Settlement an affidavit and indemnification agreement in form satisfactory to Buyer and Buyer's title insurer, if any, exccuted by Seller and any person or entity who has performed or fumished labor, services, materials or rental equipment as described in N.C.G.S. §44A-8 to the Property within 120 days prior to the date of Settlement verifying that each such person or entity has been paid in full and agreeing to indemnify Buyer, Buyer’ lender(s) and Buyers ttle insurer against all loss from any cause or claim arising therefrom, (©) Payment and Satisfaction of Liens: All deeds of trust, liens and other charges against the Property, not assumed by Buyer, ‘ust be paid and satisfied by Seller prior to or at Settlement such that cancellation may be promptly obtained following Closing. Seller shall remain obligated to obiain any such cancellations following Closing. Page 5 of 8 STANDARD FORM 12-T Revised 1/2011, Buyer initials Seller initials 012011 Proiedwih apFome'by step 1870 For Me Rot, Fer, Mchga sec2¢ weusohascmt United (®) Title, Legal Access: Scller shall execute and deliver a GENERAL WARRANTY DEED for the Property at Settlement unless otherwise stated herein, which shall convey fee simple marketable and insurable title, free of all encumbrances except: ad valorem taxes for the current year (prorated through the date of Settlement): utility easements and unviolated restrictive covenants that do not materially affect the value of the Property; and such other encumbrances as may be assumed or specifically approved by Buyer in ‘writing. The Property must have legal access to a public right of way. NOTE: If any sale of the Property may be a "short sale,” consideration should be given to attaching a Short Sale Addendum (Standard Form 2A14-T) as an addendum to this Contract. (g)_ Deed, Excise Taxes: Seller shall pay for preparation of a deed and all other documents necessary to perform Sellers obligations under this Contract, and for state and county excise taxes required by law. The deed is to be made to (i) Agreement to Pay Buyer Expenses: Seller shall pay at Settlement $ toward any of Buyer's expenses associated with the purchase of the Property, less any portion disapproved by Buyer’ lender. NOTE: Examples of Buyer's expenses associated with the purchase of the Property include, but are not limited to, discount points, loan origination fees, appraisal fees, atiomey’s fees, inspection fees, and "pre-paids" (taxes, insurance, owners’ association dues, etc). (i) Payment of Confirmed Special Assessments: Seller shall pay all Confirmed Special Assessments, if ar amount thereof can be reasonably determined or estimated. (Late Listing Penalties: All property tax late listing penalties, if any, shall be paid by Seller. (4) Owners’ Association Disclosure and Addendum (Standard Form 2A12-T): If applicable, Seller shall provide the completed Owners’ Association Disclosure and Addendum (Standard Form 2A12-T) to Buyer on or before the Effective Date, () Seller's Failure to Comply or Breach: If Seller fails to materially comply with any of Seller's obligations under this Paragraph 6 or Seller materially breaches this Contract, and Buyer elects to terminate this Contract as a result of such failure or breach, then the Eamest Money Deposit and the Due Diligence Fee shall be refunded to Buyer and Seller shall reimburse to Buyer the reasonable costs actually incurred by Buyer in connection with Buyer's Due Diligence without affecting any other remedies, 7 PRORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated through the date of tlement and either adjusted between the partis or paid at Settlement (a) ‘Taxes on Real Property: Ad valorem taxes on real property shall be prorated on a calendar year basis; (b) Rents: Rents, if any, forthe Property; (€) Dues: Owners association regular assessments (dues) and other like charges. 8. CONDITION OF PROPERTY AT CLOSING: The Property must be in substantially the same or better condition at Closing as ‘on the date of this offer, reasonable wear and tear excepted, 9. RISK OF LOSS: The risk of loss or damage by fire or other casualty prior to Closing shall be upon Seller. Ifthe improvements on the Property are destroyed or materially damaged prior to Closing, Buyer may terminate this Contract by written notice delivered to Seller or Seller’s agent and the Eamest Money Deposit and any Due Diligence Fee shall be refunded to Buyer. In the event Buyer does NOT elect to terminate this Contract, Buyer shall be entitled to receive, in addition to the Property, any of Sellers insurance proceeds payable on account of the damage or destruction applicable to the Property being purchased. Seller is advised not to cancel existing Insurance on the Property until after confirming recordation of the deed. 10. DELAY IN SETTLEMENT/CLOSING: Absent agreement to the contrary in this Contract or any subsequent modification thereto, if party is unable to complete Settlement by the Settlement Date but intends 10 complete the transaction and is acting in good faith and with reasonable diligence to proceed to Settlement ("Delaying Party"), and if the other party is ready, willing and able to complete Settlement on the Settlement Date ("Non-Delaying Party") then the Delaying Party shall give as much notice as possible to the Non-Delaying Party and settlement agent and shall be entitled to a delay in Settlement. If the parties fail to complete Settlement and Closing within fourteen (14) days of the Settlement Date, or to further extend the Settlement Date by written agreement, then the Delaying Party shall be in breach and the Non-Delaying Party may terminate this Contract and shall be entitled to enforce any remedies available to such party under this Contract for the breach, Page 6 of 8 STANDARD FORM 12-T Revised 1/2011 Buyer initials Seller initials ‘1/2011 Pease wn ofc by slog 8070 Aven le Rose Fer Mchigan 8028 exasksonsam Unites 11, POSSESSION: Unless otherwise provided herein, possession shall be delivered at Closit ‘vegetation removal or other such activities may be done before possession is delivered. NNo alterations, excavations, tree or 12, OTHER PROVISIONS AND CONDITIONS: CHECK ALL STANDARD ADDENDA THAT MAY BE A PART OF THIS CONTRACT, IF ANY, AND ATTACH HERETO. ITEMIZE ALL OTHER ADDENDA TO THIS CONTRACT, IF ANY, AN ATTACH HERETO. NOTE: UNDER NORTH CAROLINA LAW, REAL ESTATE BROKERS ARE NOT PERMITTED TO DRAFT CONDITIONS OR CONTINGENCIES TO THIS CONTRACT. Additional Provisions Addendum (Form 2A11-T) D Loan Assumption Addendum (Form 2A6-T) 1B Back-Up Contract Addendum (Form 2A1-T) ‘Owners! Association Disclosure And Addendum (Form 2A12-T) 1 Contingent Sale Addendum (Form 2A2-T) Seller Financing Addendum (Form 2A5-T) 5 Gi Short Sale Addendum (Form 2A14-T) OTHER: 13, ASSIGNMENTS: This Contract may not be assigned without the written consent of all parties except in connection with a tex- deferred exchange, but if assigned by agreement, then this Contract shall be binding on the assignee and assignee's heirs and successor 14, TAX-DEFERRED EXCHANGE: In the event Buyer or Seller desires to effect @ tax-deferred exchange in connection with the conveyance of the Property, Buyer and Seller agree to cooperate in effecting such exchange; provided, however, that the exchanging party shall be responsible for all additional costs associated with such exchange, and provided further, that a non-exchanging party shall not assume any additional liability with respect to such tax-deferred exchange. Buyer and Seller shall execute such additional documents, including assignment of this Contract in connection therewith, at no cost to the non-exchanging party, as shall be required to give effect to this provision. 15, PARTIES: This Contract shall be binding upon and shall inure to the benefit of Buyer and Seller and their respective heirs, successors and assigns. AS used herein, words in the singular include the plural and the masculine includes the feminine and neuter genders, as appropriate. 16, SURVIVAL: If any provision herein contained which by its nature and effect is required to be observed, kept or performed after the Closing, it shall survive the Closing and remain binding upon and for the benefit of the partes hereto until fully observed, kept or performed. 17, ENTIRE AGREEMENT: This Contract contains the entire agreement of the parties and there are no representations, inducements or other provisions other than those expressed herein. All changes, additions or deletions hereto must be in writing and signed by all parties. Nothing contained herein shall alter any agreement between a REALTOR® or broker and Seller or Buyer as contained in any listing agreement, buyer agency agreement, or any other agency agreement between them, 18, NOTICE: Any notice or communication to be given to @ party herein may be given to the party or to such partys agent. Any ‘writen notice or communication in connection with the transaction contemplated by this Contract may be given to a party or a party's agent by sending or transmitting it to any mailing address, e-mail address or fax number set forth in the "Notice Information” section below. Seller and Buyer agiee that the "Notice Information” and "Escrow Acknowledgment” sections below shall not constitute @ ‘material part of this Contract, and that the addition of modification of any information therein shall not constitute a rejection of an offer or the creation of a counterofer. 19, EXECUTION: This Contract may be signed in multiple originals or counterparts, all of which together constitute one and the same instrument, and the parties adopt as their seals the word "SEAL" beside their signatures below. 20. COMPUTATION OF DAYS: Unless otherwise provided, for purposes of this Contract, the term "days" shall mean consecutive calendar days, including Saturdays, Sundays, and holidays, whether federal, state. local or religious. For the purposes of calculating days, the count of “days” shall begin on the day following the day upon which any act or notice as provided in this Contract was required to be performed or made. Page 7 of & STANDARD FORM 12-T Revised 1/2011 Buyer initials Seller initials ©1201 9 TO Fier Mees, ser Megan S26 ane sebac Untied THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKE, NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN IT. 1s offer shall become a binding contract on the Effective Date, Date: Date Buyer (SEAL) Seller (SEAL) Date: Date Buyer (SEAL) Seller. (SEAL) Date: Date: Buyer (SEAL) Seller, (SEAL) NOTICE INFORMATION (NOTE: INSERT THE ADDRESS AND/OR ELECTRONIC DELIVERY ADDRESS EACH PARTY AND AGENT APPROVES FOR THE RECEIPT OF ANY NOTICE CONTEMPLATED BY THIS CONTRACT. INSERT "N/A" FOR ANY WHICH ARE NOT APPROVED.) BUYER NOTICE ADDRESS: SELLER NOTICE ADDRESS: Mailing Address: Mailing Address: Buyer Fax Seller Fax? vyer E-mail ‘Seller E-mail SELLING AGENT NOTICE ADDRESS: Firm Name: ‘Acting as Buyer's Agent) Sellers (sub) Agent(_)Dual Agent Mailing Address: LISTING AGENT NOTICE ADDRESS: Firm Name: ‘Acting as ) Sellers Agent () Dual Agent Mailing Address: Individual Selling Agent Acting as a Designated Dual Agent (check only if applicable) Individual Listing Agent: 1D Acting as a Designated Dual Agent (check only if applicable) License # License #: Selling Agent Phone Listing Agent Phone? Selling Agent Faxit Listing Agent Fax? Selling Agent E-mail Listing Agent E-mail ESCROW ACKNOWLEDGMENT OF INITIAL EARNEST MONEY DEPOSIT Escrow Agent acknowledges receipt of the Initial Earnest Money Deposit and agrees to hold and disburse the same in accordance the terms hereof. Date: Firm: By: ‘Cignaturey (Print name) Page 8 of & STANDARD FORM 12-T Revised 1/2011 0.172011 nt GUIDELINES FOR COMPLETING THE OFFER TO PURCHASE AND CONTRACT-VACANT LOT/LAND (Standard Form No. 12-T) INTRODUCTION; These guidelines are provided to assist Broker and attomeys who are completing the Offer to Purchase and Contract—Vacant Lot/Land form on behalf of Buyers and Sellers. The Offer to Purchase and Contract is the most important document in any real estate sale and it is imperative that it accurately reflects the entire agreement of Buyer and Seller. An improper ‘contract may have substantial adverse effects on the rights and interests of the parties. These guidelines include general comments about contract completion as well as suggestions and explanations regarding selected contract provisions with which Brokers often have difficulty. However, situations will frequently arise that are not covered by these Guidelines. All Paragraph numbers and Subparagraph numbers and letters used in these Guidelines correspond to the paragraph numbers and subparagraph numbers and letters used in the Offer to Purchase and Contract. Brokers should always remember that a North Carolina real estate attomey should be consulted any time there is uncertainty regarding the proper completion of this important form. USE.OF FORM: The Offer to Purchase and Contract—Vacant Lot/Land form is jointly approved by the NORTH CAROLINA. ASSOCIATION OF REALTORS®, INC. and the NORTH CAROLINA BAR ASSOCIATION, as Standard Form No, 12-T. The version of this form with the REALTOR® logo is produced by NCAR for use by its members, only as printed, The version of this form without the REALTOR® logo is produced for the NORTH CAROLINA BAR ASSOCIATION and may be used, only as printed, by attomeys and Broker. Review the "NOTE" at the top of the form to determine its intended use. In any City or County that has a subdivision ordinance, itis a misdemeanor under the General Statutes of North Carolina to sell or transfer land in a subdivision prior to subdivision approval, or, except under limited circumstances, to enter into a contract to transfer land in a subdivision prior to subdivision approval. It is also a misdemeanor to subdivide property in a manner not permitted by the subdivision ordinance. Ifthe sale involves the transfer of vacant land that the buyer contemplates subdividing, or thatthe seller is in the process of subdividing, then consult a NC real estate attorney for an appropriate form, If the sale involves the construction (or completion of construction) of a new single-family dwelling, use the current standard Offer to Purchase and Contract—New Construction (NCAR/NCBA Form 800-T) or consult a NC real estate attorney for an appropriate form, If the sale involves new construction that has been completed, use the current standard New Construction Addendum (NCAR/NCBA Form 2A3-T) or consult a NC real estate attomey for an appropriate form. Do not use this form as a substitute for an option contract, lease-option agreement, lease-purchase agreement or installment land contract. GENERAL INSTRUCTIONS; ‘Type this form if possible; otherwise print or write legibly in ink inall bank spaces. Ifany space is not used, enter "N/A" or "None" as appropriate Be precise. Avoid the use of abbreviations, acronyms, jargon, and other terminology that may not be clearly understood, Every change, addition or deletion to an offer or contract must be intiled and should be dated by both Buyer and Seller. If numerous changes are made or ifthe same item (such as the purchase price) is changed more than once, complete a new contract form toavoid possible confusion or disputes between the parties. If, after the parties have entered into a valid contract, ‘you prepare a new form forthe parties to sign because the existing contract contains so many changes that it s difficult to read, then do not discard the existing contract. Keep it with the new form. 6. Review with the parties all contract provisions. Advise the partes to consult their respective attorneys if they have any question about the legal consequences ofthe contractor any particular provision. 1, TERMS AND DEFINITIONS: (a) NAMEZS) OF SELLER AND BUYER: Fill in the complete name of each Seller. If husband and wife, show the names of both (John A. Doe and wife, Mary B. Doe). Do not use “Mr. and Mrs. John A. Doe,” “Owner of Record,” or last name only (b) NAMEZS) OF BUYER; Fill in the complete name of each Buyer. Do not use “Mr. and Mrs. John A. Doe.” If husband and ‘wife, show the names of both (John A. Doe and wife, Mary B. Doe). Page | of 6 STANDARD FORM 126 Revised 1/2011 Ete North Caroli or © 12011 Boverly-Hanks & Associates 300 Executive Prk Asheville, NC 28601 Phone 828-254-7221 Fax #28-255-4004 ‘aint admin United (©) PROPERTY/LEGAL DESCRIPTION: Fill in street address of the Property if there is one (NOT the mailing address, which may be different from the street address). In addition to a street address, include a legal description sufficient to identify and distinguish the Property from all other property. Fill in all applicable blanks as completely as possible @ “ @ Pu Plat reference: If the Property is a lot in a subdivision or a condominium unit, include the lot number or condominium ‘unit number, the block or section number of the subdivision or condominium, the name of subdivision or condominium, and recording reference for the plat as recorded in the Register of Deeds office. PIN/PID or other identification number: CAUTION: Although helpful, reference to a PIN/PID alone is generally ‘not an adequate legal description. Other description: A survey attached as an Exhibit or an abbreviated description such as 10+/- acres at the northeasterly quadrant of the intersection of Route 41 and Jackson Boulevard may be helpful. A copy of Seller's deed ‘may be attached as an Exhibit. Do not attempt to complete a metes and bound description as an Exhibit A North Carolina real estate attomey should be consulted if a metes and bounds description is necessary or if the information available is inadequate to clearly describe the Property. Reference to a recorded deed: If known, insert the book number and page number of Seller's deed as recorded in the office of the Register of Deeds office. (1) Purchase Price: Insert the total amount ofthe purchase price in dollars on the frst line (2) Due Diigenee Fee: If Buyer is paying Seller a Due Diligence fee, as defined in Paragraph 1(i), for the right to conduct Due Diligence during the Due Diligence Period as defined in Paragraph 1(j), insert the amount of the Due Diligence Fee on the second line. (8) Initial Earmest Money Deposit: Insert the amount of the Initial Eamest Money Deposit, if any, in dollars on the third line and check the appropriate box for method of payment. NOTE: Any Initial Eamest Money Deposit should ‘be paid tothe Escrow Agent designated in Paragraph 1(f) and delivered with the Contract. (4) Additional Earnest Money Deposit: If an Additional Eamest Money deposit isto be given at @ later date, insert ‘the amount ofthat deposit in dollars and the due date on the fourth line. Any Additional Eamest Money Deposit should be paid in immediately available funds to the Escrow Agent designated in Paragraph 1(0) and delivered by the due date specified. NOTE: A personal check is not immediately available funds. NOTE: Time is “of the essence” with respect to the payment of any additional earnest money deposit. (6) Assumption of existing loan: Inset the approximate principal amount of Seller's existing loan on the Property 2s fof Settlement on the fifth line, and complete and attach the current standard Loan Assumption Addendum (NCBAINCAR Form 2A6-T) (© Seller Financing: Insert the dollar amount ofthe financing from Seller on the sixth line, and complete and attach the current standard Seller Financing Addendum (NCARNCBA Form 2AS-1). (1) Balance of Purchase Price: Insert the dollar amount of the balance due from Buyer on the eighth line, NOTE: This amount should equal the purchase price minus any dollar amounts inserted in second through sixth ines In the case of a counteroffer, which alters any figure in subparagraph (d), all altered figures must be led and should be dated by all parties. Care should be taken to be certain that the figures in the second through the seventh lines, when added, always equal the purchase price set forth in the first line. (f) Escrow Agent: Insert the name of the Escrow Agent designated to hold the Initial Earnest Money Deposit and/or the Additional Earnest Money Deposit, not the name of an individual Broker (unless it to be held by a Broker who is a sole practitioner). Note that the name indicated here should also be indicated on the "Firm" line at the bottom of the form under the acknowledgment of receipt of the eamest money. NOTE: Any earnest money check should be made payable to the designated Escrow Agent. G) Due Diligence Peri : Insert the date Buyer's rights to conduct Due Diligence, as defined in Paragraph I(h), expires. (D Settlement Date: Insert the date upon which Settlement, as defined in Paragraph 1(), is to occur. NOTE: Closing, as defined in Paragraph 1(m), may or may not be completed on the same day Settlement occurs. 2. BUYER'S DUE DILIGEN' The right of Buyer 1 conduct Due Diligence (defined in Paragraph 1 (h)) is one of ‘the most important elements of the Contract. During the Due Diligence Period (defined in Paragraph 1())) Buyer is rn the ‘opportunity to investigate and examine all aspects of the Property and the transaction in order to decide whether to proceed with or terminate the transaction. If Buyer terminates the Contract prior to the expiration of the Due Diligence Period, Buyer may obtain a rofuund of the Eamest Money Deposit and any Additional Eamest Money Deposit paid prior to the expiration of the Due Diligence Period, but not any Due Diligence Fee. Buyer and Buyer's Broker should give careful consideration as to what types of Duc Difigence should be performed during the Due Diligence Period and should heed the Warning following Paragraph 2(e) of the Contract. Page 2 of 6 STANDARD FORM 12G Revised 1/2011 © 12011 recent win pFom@by seep 1070 heen Mle ose Fas Mchign 48036 washes United Buyer's Due Diligence should include investigating the availability of any desired or required financing. Buyer should understand that depending on the length of time Buyer and Seller agree that the Due Diligence Period will last, itis possible or even likely Buyer will not know with certainty that the loan will be approved prior o the end of the Due Diligence Period. In such case, Buyer should make a decision based on the information Buyer has from Buyer's lender at that time whether to terminate or proceed with the transaction, If Buyer terminates the contract, Buyer receives the Eamest Money Deposit back. If Buyer proceeds with the transactiot ‘and the lender does not ultimately approve the loan, Buyer would lose the Eamest Money Deposit if Buyer were unable to close without the loan. By making the Ioan qualification process a part of Buyer's Due Diligence, Buyer and Seller have the ability to fairly balance the risk that the Contract may not close due to Buyer's loan not being approved by shifting that risk to Buyer at a mutually agreeable date. The date thatthe risk shifts to Buyer is the date that the Due Diligence Period expires. Roads: Unless the roads have been dedicated to public use and formally accepted by the appropriate government agency, neither the state nor any public agency owns legal title to the land over which a street runs. Until responsibility for road maintenance is lawfully transferred to a municipality or the North Carolina Department of Transportation, either the developer or the owners will be responsible for maintenance. Since October 1, 1975, developers and sellers of certain residential subdivision lots have been required by law to give the first purchaser of each property a Subdivision Street Disclosure Statement containing important information about road ownership and maintenance responsibility. However, the application of this law is quite limited, so it is recommended that during the Due Diligence Period, the buyer should inguire into the status of roads in the subdivision and find out who is responsible for their maintenance. For more information, see the North Carolina Real Estate Commission's publication, entitled Questions and Answers on: Residential Subdivisions and Planned Communities (Gv) Property Investigation: Purchasers take ttle to property subject to the restrictive covenants and are bound to follow them, even i they did not actually know the property was subject to restrictive covenants. Once restrictions are properly imposed ‘upon 2 property, they "run with the land” and are binding on the owner and al subsequent purchasers. No owner or purchaser can use the property for any purpose that violates the restrictions. During the Due Diligence Period, Buyer should review any document that may limit the use of the Property or govern the Property owner or obligate the Property owner to a financial payment other than the purchase price, axes, and governmental assessments. If such documents are not available ftom either the listing Broker or Seller, then an attorney should be consulted by Buyer during the Due Diligence Period. (0)(9) Appraisal: ‘The Property being appraised ator equal to the Purchase Price is not a condition to Buyer's performance under the. Ifthe appraised value of the Property is an important factor in determining whether a Buyer wishes to proceed with the purchase or whether necessary or desired financing is obtainable, Buyer should obtain and review an appraisal ofthe Property prior to the expiration ofthe Due Diligence Period. (O\(v9 Survey: A survey of the Property can reveal important information about the Property, including setback lines and possible violations thereof, encroachments on to the Property or from the Property onto adjacent property, boundaries, the existence of uty, storm drainage and other easements which may prohibit construction of improvements within their areas, and ‘many other important details about the physical nature of the Property. Lenders often tell buyers that they do not need a survey in order to close because lenders are able to obtain ttle insurance coverage on ther lenders’ policies insuring agains tile defects which would be revealed by a survey. No such coverage is available to a buyer or borrower under an owners’ policy of title insurance without a current survey. Buyer should be encouraged to obtain a new survey in order to determine whether there are any tile defects and vo consult with a North Carolina realestate attomey to understand the importance of obtaining a new survey: (b)(vil) Flood Hazard: Buyer should determine whether the Property and/or any permanent improvements on the Property are wholly or partially located in a Special Flood Hazard Area and whether itis advisable for Buyer, or whether Buyer's lender may require Buyer, to obtain flood hazard insurance. A definition of the tem “Special Flood Hazard Arca” can be obtained from the website of the Federal Emergency Management Agency at ww fema.gov. Information about the state of North Carolina's Floodplain Mapping Program is available online at http/www.nefloodmaps.com. (©) Buyer's Obligation to Repair Damage: Buyer's obligation to repair damage under this Paragraph is not necessarily limited to circumstances where the damage is caused by the negligent or willful acts or omissions of Buyer or Buyer’s agents and contractors. On the other hand, Buyer should not be responsible for repairing pre-existing damage discovered during the inspection/investigation ofthe Property by Buyer and Buyer's agents and contractors 3. BUYER REPRESENTATIONS: Buyer Representations are statements of current facts that Seller may reasonably rely upon in deciding whether to enter into the Contract. Representations made “to the best of Buyer's knowledge” include only facts known to Buyer at the time the representation is made. (a) Loan: Check the applicable box disclosing whether Buyer has to obtain # loan in order to purchase the Property. If a Broker ‘working with Buyer knows or reasonably should know under the circumstances that Buyer must obtain a loan in order to purchase the Property it is a material fact under the real estate licensing law that must be disclosed by the Broker because it Page 3 of 6 STANDARD FORM 12G Revised 1/2011 © 12011 Peat wn epFoms by stops TIT Pitean Mle oad Facer, MchgonSHC36 sia United ) is a fact relating directly to the ability of Buyer to complete the transaction with Seller. If Buyer does in fact need a loan, check the boxes that best describe the type of loan; insert the desired or required interest rate, the principal amount of the Joan, the term of the loan and the maximum interest rate acceptable to Buyer. (NOTE: Buyer's obligations under the Contract are not conditioned upon Buyer being able to obtain the desired financing. Buyer should determine whether acceptable or necessary financing is available (o Buyer prior (o expiration of the Due Diligence Period. Sec Paragraph 2 above.) Other Property: Check the box indicating whether Buyer does or does not have to sell or lease other real property in order to qualify for a new loan or to complete the purchase. If a Broker working with Buyer knows or reasonably should know under the circumstances that Buyer must sell other property in order to purchase the Property, itis a material fact under the real estate licensing law that must be disclosed by the Broker because itis a fact relating directly to the ability of Buyer to complete the transaction with Seller. If Buyer docs need to sell in order to qualify for a new loan or to complete the purchase, consideration should be given to including and making a part of the Contract Contingent Sale Addendum (Standard Form 2A2-T), 5. SELLER REPRESENTATIONS: Seller Representations are statements of current facts that Buyer may reasonably rely upon in eciding whether to enter into the Contract. Representations made “to the best of Seller's knowledge” include only facts known to Seller atthe time the representation is made. (@ ) © «@ © Ownership: Check the applicable box disclosing how Jong Seller has owned the Property or whether Seller owns the Property atthe time Seller executes the Contract. Seller's term of ownership may affect Buyer's ability to obtain mortgage financing. Some mortgage lenders require proof thatthe property isnot being flipped from one purchaser ata lower price to another purchaser ata higher price within a short period of time. Any lender issues concerning Seller's tem of ownership should be resolved during the Due Diligence Period. ‘Assessments: Prior to accepting the Contract or making a counteroffer to Buyer, Seller should disclose any Proposed Special ‘Assessments under consideration for the Property by any owners’ association oF municipal authority withthe power to levy assessments, ifany, of which Seller is aware. If Seller is unaware of any Proposed Special Assessments which are under such consideration and which may affect the Property, or if Seller is unable to obtain any information regarding same from any ‘owners’ association (oF its managing agent) or municipal authority with the power to levy assessments, insert none, Pursuant to Paragraph 4(b) of the Contract, Buyer shall take title to the Property subject to any Proposed Special Assessments disclosed by Seller. Seller's representations in Paragraph S(b) about Confirmed Special Assessments contain a warranty that the facts represented are accurate and may be relied on a8 Such. A warranty may give rise to a claim by Buyer against Seller for breach of warranty in the event the facts warranted turn Out to be untrue at the time they were made. Therefore, prior 10 accepting the Contract or making @ counteroffer to Buyer, Seller should determine if there are any Confirmed Special ‘Assessments, and to enter the amount of such Confirmed Special Assessment(s) If there are no Confirmed Special “Assessments affecting the Property, enter “None”. (NOTE: Buyer should determine whether there are any Proposed or Confirmed Special Assessments prior to the expiration of the Due Diligence Period.) Owners’ Association(s) and Dues: Prior to accepting the Contract or making a counteroffer to Buyer, Seller should check the box indicating whether ownership of the Property subjects or does not subject Buyer to regulation by one or more owners’ associations and governing documents containing covenants, conditions and restrictions which may mit Buyer's use of the Property and which may subject Buyer to the obligation to pay regular assessments (dues) and Special Assessments. If there is such an owners” association, Seller should complet, at Seller's sole expense, and atach an Owners Association Disclosure and Addendum (Standard Form 2412-T) as an addendum to the Contract, Sewage System Permit: Check appropriate box. If a sewage system has been installed, Buyer is responsible for any investigation during the Due Diligence Period to determine the system's condition. See Subparagraph 2(b)Gi) of the Contact. Private Drinking Water Well Permit: Check appropriate box. If a well has been installed, Buyer is investigation during the Due Diligence Period to determine the wells condition. See Subparagraph 2(b) sponsible for any of the Contract, 6. SELLER OBLIGATIONS: The Contract imposes numerous obligations upon Seller with respect to the transaction. If Seller fails to refund of any Eamest Money Deposit and Due Diligence Fee pai ‘materially comply with such obligations or materially breaches the Contract, Buyer may terminate the Contract and receive obtain reimbursement from Seller for its reasonable costs incurred in conducting Due Diligence without affecting any other remedies available to Buyer. (g) Deed, Excise Taxes: Insert the exact, legal name(s) of Buyer(s) as will appear in the deed. Buyer and Seller should note that using phrases suchas “as directed by Buyer” or “Buver(s), or assigns” may conflict with the restrictions on assignment of the Contract set forth in Paragraph 13. Ifthe parties wish to permit assignment of the Contract, consultation with a North Carolina real estate attorney is recommended, Page 4 of6 STANDARD FORM 12G Revised 1/2011 © 12011 Protsca in For by Hoe 1570 Fan Mie Rs, Fn, ga C26 seule United (h) Agreement to Pay Buyer Expenses: Insert the fixed dollar amount Seller will pay. This amount may also be expressed a a percentage of the purchese price. Include in this amount any FHA/VA lender and inspection costs (seller mandated fees) to be paid by Seller. Examples of Buyer's expenses associated with the purchase of the property may include, but are not limited to, discount points, loan origination fees, appraisal fees, attorney's fees, inspection fees and loan “pre-paids” (taxes, insurance, etc.) If Seller will not pay any such expenses, insert “O” in the blank. Note that Seller’s payment of any such amount is subject to approval by Buyer's lender. 9. RISK OF LOSS: Since the risk of loss does not pass to Buyer until Closing occurs, Seller should consult with an atfomey and Seller's insurance carrier before agresing to allow Buyer to take possession at Settlement or any other time prior to the recordation of the deed. A Buyer allowing Seller to romain in possession after Closing should also consult with Buyer's attorney and insurance carrier to determine that Buyer has adequate coverage in the event of Joss during the period of Seller's possession after Closing. 10. DELAY IN SETTLEMENT/CLOSING: If either party anticipates a delay in Settlement and Closing, that party should try to negotiate @ written extension from the other party prior to the expiration of the Due Diligence Period. LL, POSSESSION: The contract assumes possession will be delivered at Closing. “Closing” is defined in Paragraph 1(m) and requires that Settlement and all steps included in the process of Closing, including recording of the deed, be completed. Closing will not occur at the same time, and may not even occur on the same date as Settlement. In selecting the place and time of Settlement, ‘Buyer should consider that completion of Closing, including recording, is necessary before possession may be delivered unless the parties otherwise agree. If possession by a certain date is critical, Settlement should be scheduled on a date and at a time that will allow sufficient time for Closing to be completed on or before that date. If the parties agree to transfer possession to Buyer prior to recording of the deed, then attach a Buyer Possession Before Closing Agreement (NCAR/NCBA Form 2A7-T) or consult a NC real ‘estate attomey for an appropriate agreement. Ifthe parties agree to permit Seller to remain in possession after recording of the deed, then attach a Seller Possession After Closing Agreement (NCAR/NBCA Form 2A8-T) or consult a NC real estate attomey for an ‘appropriate agreement, Also consider Paragraph 9 of these guidelines, entitled “Risk of Loss.” 12, OTHER PROVISIONS AND CONDITIONS: Check any standard addenda that may be attached to the contract, and indicate by name any other attached addenda. Any addenda referred to here should be properly identified, signed under seal by the parties, and attached to cach original of the contract. Any copy of the contract must always ave all addenda attached. Additional provisions or conditions may be added in the “OTHER” space, or in a separate Addendum prepared by a North Carolina real estate atiomey if ‘necessary. Identify each such provision or condition as (a), (b), ete. If any added provision conflicts with another provision of the contract, clarify which provisionisto govern. CAUTION: Brokers must he extremely careful when adding contract provisions. The drafting of such provisions could constinute the unauthorized practice of law and could result in disciplinary action against a Broker by the North Carolina Real Estate Commission, as could the inclusion of an inadequate or improper provision. 14, TAX DEFERRED EXCHANGE: If either or both of the parties may be considering entering into a tax free exchange of like kind property in connection with the transaction, consultation with qualified attorneys or tax advisors is recommended, 17. ENTIRE AGREEMENT: The parties should make sure that all essential elements of the contemplated Contract are embodied in the Contract and all addenda attached thereto and made a part thereof. 19, EXECUTION: It is recommended that multiple originals or counterparts be executed and that each party receive an original or counterpart with original signatures. A fully executed copy of the complete contract and all addenda should be delivered to Buyer's prospective lender(s) SIGNATURES AND DATES: All parties with an ownership interest must sign as Seller and all parties named as Buyer must sign as Buyer. If Seller(s) is married, both the husband and wife always must sign the contract. Thisistrue even ifthe Property isowned by only one spouse. The non-owner spouse holds a potential “marital life estate” and a “right to dissemt from the will” under North Carolina law and must sign the deed in order for the other spouse to convey clear title. The signature of the non-owner spouse om the contract will obligate that spouse to join in signing the deed. If the married Sellers have executed and recorded a pre-nuptial ‘agreement, post-nuptial agreement, or @ free trader agreement consult 2 North Carolina real estate attorney to determine who must (1) Indicate the dates that the parties actually sign the Offer to Purchase and Contract. Page 5 of 6 STANDARD FORM 12G Revised 1/2011 ‘© 1/2011 Protest 2oFom by 20L09K ITD iter Mie od Fraser, Mnpan 8036 wana Untied NOTICE INFORMATION: Insert the notice addresses for Buyer and Seller, including current mailing and e-mail addresses and fax ‘numbers. Note that in accordance with Paragraph 18, the partes agree that any written notice or communication may be transmitted ‘to any mailing address, e-mail address or fax number set forth in the contract which they select. Thus, it is very important that correct ‘contact information be inserted. Ifa party does not have an e-mail address or fax machine, or if a party does not desire written notice + communication to be transmitted to the party’s e-mail address and/or fax machine, insert “N/A” or “None” in the relevant blank. REALTORS® representing a party to a transaction are reminded that if the other party to the transaction is exclusively represented, REALTORS® generally must conduct all dealings conceming the transaction with the other party's Broker and not the other party (See Standard of Practice 16-13 of the REALTOR® Code of Ethics). Enter the names of the individual selling and listing Brokers, their respective individual license numbers and firm names, and check the appropriate agency representation box for each. Note that this procedure is confirmation of a prior disclosure of the agency relationship and in no way should be considered as an initial disclosure of agency relationship. Signatures are not necessary. Also center the notice addresses forthe selling and listing Brokers, including current mailing and e-mail addresses and fax numbers ESCROW ACKNOWLEDGMENT OR INITIAL EARNEST MONEY DEPOSIT: The “Firm” should he the same as the firm indicated as Escrow Agent in Paragraph 1(f). The individual signing for the firm serving as Escrow Agent on the “By:” line mast be sociated with that firm. Usually, this will be the individual listing Broker. Although the contract states that the Eamest Money ‘Acknowledgment section is not a material part of the Offer to Purchase and Contract, if the Escrow Agent named in Paragraph 1(0) of the contract is unable or unwilling to serve in such capacity, the Escrow Agent's name should be replaced with the name of a substitute Escrow Agent agreeable to Buyer and Seller, and the change initialed and dated by both parties. Page 6 of 6 STANDARD FORM 12G Revised 1/2011 ©1011 ced wth Fam ycolage TROT Fen Mie Rod, Fee, Mega 8026 sam lani.can United NOTICE TO BUYER THAT SELLER IS EXERCISING THEIR RIGHT TO TERMINATE ‘THE OFFER TO PURCHASE AND CONTRACT—VACANT LOT/LAND (FORM 12-T) Buyer: ("Buyer") Seller: ("elles") Property Address: (*Property") 1. Contract. Buyer and Seller entered into a contract for the purchase and sale of the Property on the Offer to Purchase and Contract-Vacant LovLand (form 12-T) ("Contract"). The Effective Date of the Contract is 2. Termination by Seller. Scller hereby terminates the contract between Buyer and Seller for the Property for the following reason(s) check all applicable boxes) Buyers failure to timely deliver good funds following written notice from Seller (see paragraph 1(d) of Contract) Buyer's delay in Settlement and Closing for more than fourteen (14) days from the Settlement Date or any extension of the Settlement Date agreed upon in writing (see Paragraph 10 of the Contract) Buyer's failure (o deliver a copy of a Contract For Buyer's Property within the timeframes specified in Paragraph 2 of the Contingent Sale Addendum (form 2A2-T) Exercise by Seller of right to terminate under Paragraph 2 of Contingent Sale Addendum (form 2A2-T) because the Contract For Buyer's Property has terminated Exercise by Seller of right to terminate under Paragraph 2 of Short Sale Addendum (form 2A14-T) based on Lienholders! rejection of the Short Sale oo ooo THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. Seller Dare Tine Seller Dae Time Page 1 of 2 STANDARD FORM 353-1. North Carolina Association of REALTORS®, Ine. Revised 1/2011 Remon Sane ova Bevery-Hanks & Associates 500 Executive Park Achevil, NC 28801 Phone: 828-284-7221, Fax. 825-255-4908 ‘admin! admit Untied

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