F. Contract Section Part 2

8/6/2019 F. Contract Section Part 2

1/40

NEW CONSTRUCTION ADDENDUM(For Completed Construction)

This form is not for use when Buyer owns the Property

jOTE: This form is designed for use when Seller is a licensed contractor who has completed construction of a "spec" single-familydwelling on property owned or to be owned by Seller who will convey improved property to Buyer, and should be attached as aaddendum to the Offer to Purchase and Contract (Form 2-T). The form is also designed to accommodate an agreement betweenSeller and Buyer for additional minor improvements. If construction of the dwelling is not completed or if extensive additionalimprovements are to be made or appraisal is dependent on their value, the parties should use the Offer to Purchase andContract-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 Propertylocated at:between Buyer:and Seller: _NC contractor's license #: classification: limit: _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 construct the House and is licensed tconstruct any additional improvements that may be made by Seller pursuant to this Contract. Seller shall provide to Buyercertificate 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 aimprovements; insert "N/A" ifno additional improvements are to be made) (hereinafter collectively the "Additional Improvements")(As noted above, ifextensiveadditiooal Improvements are to be made, the parties should use the Offer to Purchase andContract-New Construction (Form 800- T) instead of this form):

(b) Construction. Seller shall construct the Additional Improvements in compliance with all laws, regulations, codes, anordinances applicable to the construction of the Additional Improvements and in a good and workmanlike manner with new, goodquality materials and components.(c) Changes. Seller shall not make any significant deviation. or change in the Additional Improvements without the prior writtenconsent of Buyer.(d) Costs of Construction. Seller shall provide and pay for all labor, materials, equipment, tools, clean-up, utilities, transportation,facilities, permits, fees, licenses and all other costs, charges and expenses whatsoever inconnectionwith or related to the constructionof the Additional Improvements.

3. COMPLETION OF ADOITIONAL IMPROVEMENTS. Seller shall diligently pursue the construction of the AdditionalImprovements, and shall complete construction of the Additional Improvements on or before Settlement. If Seller is delayed at antime in the progress of construction by: (a) any act or neglect of Buyer, (b) any changes ordered in the construction, (c) materiashortages, adverse weather conditions, or delays in transportation which were not reasonably anticipated or (d) acts of God, then th

Page I00This form jointly approved by:North Carolina Bar AssociationNorth. Carolina Association ofREALTORS, Inc.Buyer initials Seller initials

Beverly-Hanks & Associates 300 Executive Park Asheville. NC:18801Phone: 828-254-7221 Fax: 828-255-8994 adrnin 1 adrnin 1

'B .ALTOR ' "

STANO.AJID FORM 2A3 - TRevised 11201

1/201~UA L HCU~ IUCCPPOiTUNIH

UntitlProduced with zipForm by ZJpLogiY. 18070 Fi fteen Mil . Road , F rase r, M ichigan 48D26 wVJW.~ ipLoa ix com


2/40

time for completion of construction of the Additional Improvements and the Settlement Date shall be extended automatically byreasonable time to account for the delay experienced. Seller shall notify Buyer in writing within five (5) days after thcommencement of the delay; otherwise the right to an extension shall be waived. The construction of the Additional improvementsshall be deemed completed when they have been completed in accordance with the terms of this Contract and a CO(s) of occupancyhas/have been issued by the appropriate governmental authority having jurisdiction over the construction of any of the AdditionaImprovements.4. INSPECTIONS. Buyer or Buyer's designated representative may enter and inspect the Additional Improvements at reasonabletimes and in such manner as not to interfere with the progress of construction for the limited purpose of determining whether the workperformed or being performed conforms to the terms of this Contract. In the event that during construction the Buyer shalreasonably determine that construction is not proceeding in accordance with this Contract, Buyer shall give written notice to Sellespecifying the particular deviation. deficiency, or omission, and the Seller shall forthwith correct such deviation, deficiency, oomission. Buyer's rights under this paragraph shall not release Seller from any of Seller's obligations for the construction of thAdditional 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 led) of the Contract is not an Earnest Money Deposi

and will be used by Seller in the construction of the Additional Improvements. The Building Deposit shall be paid to the Selleby cash or immediately available funds such as official bank check or wire transfer no later than the first banking day followingthe end of the Due Diligence Period and will be credited to the purchase price at Settlement. The Building Deposit shall brefundable only in the event of a material breach of the Contract by Seller, the nonfulfillment of the condition set forth iParagraph 11 of the Contract, or if the Contract is terminated under Paragraph 12. Should the Buyer fail to deliver the BuildingDeposit in accordance with the terms of this subparagraph, Buyer shall have one (1) banking day after written notice to delivethe Building Deposit to Seller. In the event Buyer does not timely deliver the Building Deposit, Seller shall have the right tterminate this Contract upon written notice to Buyer.(WARNING: Indetermining whether and bow much Building Deposit Buyer is willing to pay, Buyer should carefully considethat even though Buyer may be legally entitled to a refund of the Building Deposit in the event of a material breach of thiContract by Seller, actual recovery of the Building Deposit may be difficult, time-consuming and/or costly if Seller is unable ounwilling to voluntarily refund the Building Deposit.)

6. WARRANTIES.(a) Limited Warranty of Construction. Unless otherwise provided for herein, Seller hereby warrants that, for a period of one (1year from the date of Closing or the date Buyer occupies th e House, whichever comes first, Seller will make all necessary repairand corrections to the House and any Additional Improvement, either interior or exterior, structural or nonstructural, that shalbecome necessary by reason of faulty construction, labor or materials. At Seller'S sale option, Seller may either (i) make sucrepairs and corrections (ii) replace any faulty or non-conforming item or condition or (iii) pay to Buyer the reasonable cost osuch repair correction or replacement. This limited warranty: (l)is for the benefit of Buyer onJy and may not be assigned noshall 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 componentscomprising the House and any Additional Improvements to the extent the same are assignable. Buyer shall be responsible focompliance with any notice and claim procedures set forth therein.

7. INSULATION OF IMPROVEMENTS' WALLS CEILINGS FLOORSTYPETHICKNESSR-VALUE

Page 2 of3

Buyer initials Seller initials _STAATDARD FORM 2A3 - 1

Revised 11201 1I20n

Produced wnn z ipForm by z 'pLogIX 18070 Fir,een MireRoad. Fraser. Mjchi~an 48D26 WNWz IOLoO" com Unt i t le


3/40

IN THE EVENT OF A CONFLICT BETWEEN THIS ADDENDUM AND THE OFFER TO PURCHASE AND CONTRACT, rnrsADDENDUM SHALL CONTROLTHE NORTH CAROLINA ASSOCIATION OF REALTORS, INC. AND THE NORTHCAROLINA BAR ASSOCIATION MAJC.ENO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANYPROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTlON. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL'HAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS. YOU SHOULD CONSULT A NORTH CAROLINA REALEST ATE ATTORNEY BEFORE YOU SIGN IT.Date DateBuyer: (SEAL) Seller:

Date DateBuyer: (SEAL) Seller:

Date DateBuyer: (SEAL) Seller:

______________ (SEAL)

__________________________ (SEAL)

______________ (SEAL)

Page 3 of3STANDARD FORM 2A3 - T

Revised 11201 11201

Produced w ith zlpForm by zlpLog ix 18070 F if teen Mi le Road . Frase r. Michigan 48026 w w w zjDLoglX com Unt i l l e


4/40


5/40

BACK-UP CONTRACT ADDENDUM PropertyAddress: __i'he additional provisions set forth below are hereby made a part of the Offer to Purchase and Contract or the Offer To Purchase andContract - Vacant Lot/Land (the "Back-up Contract") for the Property located at _~ _benween Buyer: __and Seller: _Buyer and Seller acknowledge that Seller has previously entered into an Offer to Purchase and Contract or an Offer To Purchase andContract - Vacant Lot/Land (the "Primary Contract") with [insert last name on ly ] (the "PrimaryBuyer" under the Primary Contract), that the Primary Contract is currently pending, and that this Back-up Contract is accepted in asecondary or back-up position to the Primary Contract under the following terms and conditions:(1) It is a condition of this Back-up Contract that the Primary Contract is terminated as descnbed below before Buyer and Sellershall be obligated to perform under this Back-up Contract Termination of the Primary Contract shall be evidenced by:

(a) written release signed by al l 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(c) written notice of termination from Primary Buyer to Seller that Primary Buyer is exercising a right to terminate the

Primary Contract; or(d) final judgment of a court of competent jurisdiction that the Primary Contract is invalid, illegal, unenforceable, or is

otherwise terminated.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 noticescalled for in this paragraph.(2) Seller shall indemnify Buyer and hold Buyer harmless from any and all claims, damages and costs, including reasonableattorneys' fees, incurred by Buyer as a result of Buyer's reliance upon any wrongful or ineffective termination of the Primary Contracty Seller.(3) Modification of the terms or conditions of the Primary Contract, including extensions of time, shan not constitute atermination of the Primary Contract and shall not cause this Back-up Contract to move into a primary position.(4) Buyer and Seller agree that Buyer may not examine or otherwise have access to the Primary Contract withoutwritten permission from Seller and Primary Buyer. Seller represents that the Primary Contract calls for settlement date of_____________________________ (date).(5) Buyer and Seller agree that any Initial Earnest Money Deposit shall be deposited within three (3) banking days following theEffective Date of this Back-up Contract even while this Back-up Contract is in secondary position.(6) In the event the Primary Contract closes, then this Back-up Contract shall become null and void and any Earnest MoneyDeposit shall be refunded to Buyer.(7) In the event the Primary Contract is terminated, Seller shall promptly 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 Iabove.

Buyer shall complete Settlement within _Contract, whichever occurs later.

days from receipt of the written Notice or by the dates specified in the Back-up

Page 1 of2' " a . North Carolina Associ ation ofREALTOR-', Inc.Buyer initials Seller initials __

STANDARD FORM 2Al -Revised 11201

11201D U A l H O U S I N GD P P O R T U N I T Y

Beverly-Hanks & Associates 300 Execuuve Park Asheville. NC 28801Phone: 828-254- 7221 Fax: 828-:!55-8994 adrnin I admin 1Produced w ilh zipForTn by zrpl .oq ix 18070 Fi fteen Mile Road . F raser . Michigan 48026 www.zipLogix.com

Untille
http://www.ziplogix.com/http://www.ziplogix.com/


6/40

(8) Inany event, Buyer must receive notification from Seller on or before , TnfE BEING OF THEESSENCE, that the Primary Contract has been terminated or this Back-up Contract shall become null and void and any EarnestMoney Deposit shall be refunded to Buyer. Buyer may terminate this Back-up Contract before said date without liability by givingwritten notice of termination to Seller at any time prior to receipt by Buyer of written Notice from Seller that this Back-up Contracthas 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 OROFFER TO PURCHASE AND CONTRACT - VACANT LOT/LAND, THIS ADDENDUM SHAll CONTROLTHE NORTH CAROLINA ASSOCIATION OF REALTORS, INC. AND THE NORTH CAROLINA BAR ASSOClA TION MAKENO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANYSPECIFIC TRANSACTION .. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE FORYOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGNIT.Buyer: (SEAL) Seller: (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 inparagraph (7) of the Back-Up Contract Addendum. DO NOT DETACH THE ORIGINAL OF THIS FORM FROM THE BACK-UPCONTRACT.]

NOTICE TO BUYER THAT BACK-UP CONTRACT IS NOW IN EFFECTNOTICE is hereby given to (insertname of Buyer) from Seller under the Back-up Contract between them dated that Sellerhas terminated the Primary Contract with (Primary Buyer), as evidencedby the ATTACHED (initial anyone of the following):

(a) written release signed by all parties thereto; or(b) written notice of termination from SeUer to Primary Buyer that Seller is exercising a right to terminate the

Primary Contract; or(c) written notice of termination from Primary Buyer to Seller that Primary Buyer is exercising a right toterminate the Primary Contract; or(d) .__ __ final judgment of a court of competent jurisdiction that the Primary Contract is invalid, illegal,unenforceable, or is otherwise terminated.

and that the Back-up Contract entered into between Seller an d Buyer has become primary and its terms and conditions are now ineffect.Seller: ___ Date:

Seller: _ Date:

Page 2 of2 ST ANDARD FORM 2Al - TRevised 1/2011

112011Produced with zlpForm by zipLoglX 18070 Fifteen Mile Road, Fraser, Michigan 48026 wwvHlolog' . com Unt i t l ed


7/40

300 Executive Park, Asheville, North Carolina 288011940 Hendersonville Road, Asheville, North Carolina 28803400 Beverly-Hanks Centre, Hendersonville, North Carolina 28792

Beverly-Hanks& ASSOCIATES

NOTICE TO BUYER THAT BACK-UP CONTRACT IS NOW IN EFFECTNOTICE is he reby g iven to (in se rt n ame of Buyer)from Se lle r un de r the B ack-U p C on tract A d de nd um be tw ee n the m d ate d--------that Seller has terminated the Primary Contract with _(Primary Buyer), as evidenced by the ATTACHED:

(a ) w rit te n re le ase of the partie s; or(b ) fin al jud gm e nt of a court of com pe te n t jurisd iction that the P rim ary C on tractis in valid , ille gal , un en force able or othe rw ise te rm in ate d the re by;

an d that the Back-U p Con tract e nte re d in to be tw een Se lle r an d Buye r has becom e prim ary an d itste rm s an d con dition s are n ow in e ffe ct.Da te :-------------Selle r: _

(SEAL)Date:Se lle r:'----- _

(SEAL)

NOTICE TO SELLER THAT BACK-UP CONTRACT IS NOW TERM INATEDNOTICE is he reby given to ( insertname of Seller) from Buyer under the Back-Up Contract Addendum between them dated____________ that the Buyer has terminated the Back-Up Contract.

Date :--------------B u y e r : _ : _

(SEAL)Date :Buyer., _

[H North Carolina Association of REAL TORS , Inc ..REAlTOR

(SEAL)G :t


8/40

I BUYER POSSESSION BEFORE CLOSING AGREEMENTTHIS AGREEMENT IS AN ADDENDUM TO THE OFFER TO PURCHASE AND CONTRACTWARNINGS TO BUYERS AND SELLERS .;_ TIDS 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 SHOULDBE ADDRESSED IN A RESIDENTIAL LEASE DRAFTED FOR A LONG-TERM OCCUPANCY.

YOU ARE ADVISED TO CONFIRM WITH AN INSURANCE PROFESSIONAL THE TERMS OF COVERAGE UNDERYOUR 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 Propertyknownas: __Buyer may take possession of the Property on ("Commencement Date") (NOTE: Select a dateafter the end of the Due Diligence Period). This Agreement shall terminate at the earlier of the Closing or days (no! to exceedfourteen [14] days) from the Commencement Date (the entire period is referred to as the "Term"). Buyer and Seller, in consideration othe 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 habeen 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 shan 110talter, modify, damage or fail to maintain the Property in its present condition. Buyer shall makeno changes in the Property, decorating or otherwise, prior to Closing without the written consent of Seller. In the event that Closingdoes not occur, Buyer shall pay all costs necessary to correct any alteration, modification or damage to the Property to restore thProperty 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 $ for the Term in advance upon execution of thiAgreement ("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 possessionshall terminate, and Buyer shall vacate the Property. If Buyer does not vacate the Property, then Buyer shall pay Seller a hold-over feof $ 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 of all utilities(sewer, water, gas electricity etc.) during the Term.6. Buyer shall be responsible for lawn maintenance a.ndtrash removal during the Term.7. Buyer shall keep any personal property owned by Buyer all or in the Property insured for the benefit of Buyer in such amount andto 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 andSeller's personal property, if any, located on the Property. Risk of loss or damage to the Property by fire or other casualty remains withSeller until Closing.9. Buyer shall indemnify and hold Seller harmless from and against any and all liability, fines, suits, claims, demands, actions, costand expenses of any kind or nature whatsoever caused by, or arising out of, or in any manner connected with any damage to thProperty occasioned by Buyer's use andlor occupancy of the Property during the Term, including intentional or negligent acts bBuyer, Buyer's family, andlor agents and employees of Buyer, or any injury to person or persons, including death or any damageoccurring in or abou.t the Property and resulting from or occasioned by Buyer's use and/or occupancy of the Property during the Term.] O . Buyer shall not sublet the Property or assign this Agreement.

Page 1 of2lB This form jointly approved by:North Carolina Bar AssociationREALTOR North Carolina Association ofREALTORS, Inc.Buyer initials Seller initials __

Beverly-Hanks & Associates 300 Execut ive Park Ashevi lle. NC 18801Phone: 828-254-7221 Fax: 828-255-8994 admin l admin1Proouced Wllh zipForm by ZlpLog" 15070 Fi fteen Mil e Road Fraser M, chl gan 48026 WWN.z, pLog~

STANDARD FORM 2A7 - TRevised 1/2011

1/201O U ~L H O U SI NCO P P O R T U N I T Y

Umilled


9/40

11. Seller shall pay the owner's association dues and other like charges, if any. during the Tenn.Check one: 0ets are allowed on the Property Dna 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 summaryejectment proceeding brought before the magistrate inthe county where the Property is located, as provided inChapter 42 of the NorthCarolina 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 thiAgreement (including an action for summary ejectment) shall be liable for the costs and expenses of the prevailing party, includingreasonable attomeys' fees (at all tribunal levels).15. TIME IS OF THE ESSENCE with regard to the expiration of the Term.EXCEPT AS SPECIF1CALLY MODIFIED HEREIN, ALL OF THE TERMS AND CONDITIONS OF THE CONTRACT SHALLREMAIN IN FULL FORCE AND EFFECT.IN THE EVENT OF A CONFLICT BETWEEN THIS AGREEMENT AND THE CONTRACT, THIS AGREEMENT SHALLCONTROL.THE NORTH CAROLINA ASSOCIATION OF REALTORS, INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKENO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANYSPECIfIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE FORYOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGNIT .

......lyer: (SEAL) DateBuyer: (SEAL) Date _Seller: (SEAL) Date _Seller.: (SEAL) Date

Page 2 of2 STANDARD FORM 2A7 - TRevised 1/201

1/201Produced Wlth ZlpFo rm by z rpl .oq ix 18070 F if teen Mi le Road. F raser . Michigan 48026 www.zlpLogl> com Untitle


10/40

SELLER POSSESSION AFTER CLOSING AGREEMENTTHIS AGREEMENT IS AN ADDENDUM TO THE OFFER TO PURCHASE AND CONTRACT

ARNINGS TO BUYERS AND SELLERS ,;_THIS FORM SHOULD NOT BE USED FOR OCCUPANCY OF MORE THAN FOURTEEN (14) DAYS. IT DOES NOTADDRESS IMPORTANT ISSUES THAT SHOULD BE ADDRESSED IN A RESIDENTIAL LEASE DRAFTED FOR ALONG-TERM OCCUPANCY.YOU ARE ADVISED TO CONFIRM WITH AN INSURANCE PROFESSIONAL THE TERMS OF COVERAGEUNDER YOUR PROPERTY AND CASUALTY INSURANCE POLICY BEFORE USING TIDS ADDENDUM.

Seller:has entered into an Offer to Purchase and Contract ("Contract") dated _with Buyer: to sell the Propertyknown as: ---------------------------------------------Seller desires to remain in possession of the Property on and after the Closing throughout the "Term," which ends the earlier o

(insert a date not later than fourteen (14) days after Closing), or the date Seller vacates thProperty. Seller and Buyer, in consideration of the provisions set forth below, hereby agree as follows:I. Seller acknowledges that all appliances, systems and equipment are in good working order and that Seller shall be responsible fothe 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 alter, modify, damage or fail to maintain the Property in its condition at Closing. In the event that the Property ialtered, modified, damaged or not maintained by Seller in its condition at Closing, Seller shall pay all costs necessary to correct analterations, 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 ("Rent").4. Without a written extension by the Parties,Seller shall vacate the Property no later than midnight of the last day of the Tenn.Seller remains in the Property thereafter ("Holding Over"), such Holding Over shall be a breach of this Agreement. Seller shacontinue to be bound by all of the terms and conditions of this Agreement, except that during such Holding Over, for each day thaSeller remains in possession of the Property, Seller shall pay to Buyer a hold-over fee of$ per day until Sellevacates 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, electricity, 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 aninsuring against any public liability which may arise out of, or by virtue of, the use and occupancy of the Property by Seller Seller'family and/or agents and employees of Seller. Risk of loss or damage to the Property by fire or other casualty transfer La Buyer aClosing.8. As of Closing, Buyer shall keep the Property, together with any improvements and any personal property owned by Buyer on oin 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, costand expenses of any kind or nature whatsoever caused by, or arising out of, or in any manner connected with any damage LO thProperty occasioned by Seller's use andlor occupancy of the Property during the Term, including intentional or negligent acts bSeller, Seller's family, and/or agents and employees of Seller or any injury to person or persons, including death, or any damageoccurring in or about the Property and resulting from or occasioned by Seller's use and/or occupancy of the Property during the Term.

Page Iof2IllI This form jointly approved by:u : : : : ! North Carolina Bar AssociationRALTOR~ North Carolina Association ofREALTORS, Inc ..

Buyer Initials Seller Init.ials _Beverly-Hanks & Associates 300 Executive Park Ashevil le. NC 2880JPhone: 8~R-254-7221 Fax: 8:!R-25;,-~994 admin I adrnin 1

STANDARD FORM 2A8 - TRevised 1/201

11201QUALHOU$I~COPPQ~TUNITY

Untill


11/40

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: Q pets are alJowed on the Property 0no 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 ejectmentproceeding brought before the magistrate in the county where the Property is located, as provided inChapter 42 of the North CarolinaGeneral Statutes.14, The losing party in any legal. proceeding brought by Buyer or Seller against the other party for breach of any provision of thisAgreement (including an action for summary ejectment) shall be liable for the costs and expenses of the prevailing party, includingreasonable attorneys' fees (at all tribunal levels).15. TIME IS OF THEESSENCE with regard to the expiration of the Term.EXCEPT AS SPECIFICALLY MODIFIED HEREIN, ALL OF THE TERMS AND CONDITIONS OF TI-IE CONTRACT SHALLREMAIN IN FULL FORCE AND EFFECT.1N THE EVENT Of A CONFLICT BETWEEN THIS AGREEMENT AND THE CONTRACT, THIS AGREEMENT SHALLCONTROLTHE NORTH CAROLINA ASSOCIATION OF REALTORS, INC. AND. THE NORTH CAROLINA BAR ASSOCIATIONI v 1 . . A K E NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM 1NANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDEFOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOUSIGN IT.

Buyer: (SEAL) Date _

luyer: (SEAL) Date _

Seller: (SEAL) Date _

Seller: (SEAL) Date _

Page 2 of2 STANDARD FORM .2AS- TRevised 1/20n

112'01Proouced with ZlpForm by zipl oqlx 18070 F if leen Mi le Road . F raser . M ich igan 48026 YMW .2IPLoo lx.cQm Un t i l l e d


12/40

roperty Address: _SHORT SALE ADDENDUMThe additional provisions set forth below are hereby made a part of the Offer to Purchase and Contract ("Contract") for the Propert;benweenBuyer: _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 insufficiento 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 loanor 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 (iii) the Lienholders agree to release or discharge theiliens upon payment of an amount less than the amount secured by their liens with or without the Seller being released from anfurther liability.2. Contingency. This Contract is contingent upon Seller obtaining Short Sale approval from Lienholders effective through Closing("LienhoI4ers' Approval") in an amount which will enable Seller to close and convey title in accordance with the Contract. Selleshall use best efforts to obtain Lienholders' Approval and shall reasonably cooperate in the Short Sale process by providing sucdocumentation as may be required ..Buyer and Seller understand that Lienholders' Approval may take several weeks or months tobtain, and neither the Seller nor any real estate agent representing Seller or Buyer can guarantee the timeliness of Lienholdersreview, approval or rejection. IfLienholders reject the Short Sale, then either party may terminate this Contract by written notice tthe other party and the Earnest 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 oLienholders' Approval. Buyer may terminate the Contract at any time prior to receipt of the Lienholders Approval by written notice tSeller, and, in such event the Earnest 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 SaleLienholders may require some tenus of the Contract be amended in exchange for approval of a Short. Sale, includingacceleration of the Due Diligence Period and Settlement Date

Buyer and Seller are not obligated to agree to any of Lienholders' proposed termsNEITHER THE BtNER, THE SELLER, THE SETTLEMENT AGENT NOR THE BROKERS IN TIDSTRANSACTION HAVE ANY CONTROL OVER LIENHOLDERS' APPROVAL, OR ANY ACT, OMISSIONOR DECIS10N BY ANY LIENHOLDERS IN THE SHORT SALE PROCESS.

5. No Repairs. Buyer acknowledges that Seller may not be financially able to make any repairs to the Property that Buyer marequest. This acknowledgement shall not affect any rights that Buyer may have under the Contract to terminate the Contract asresult 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 presentedto the Seller and to Lienholders pursuant to North Carolina law. Such offers may be accepted by the Seller as backup contracts anforwarded to Lienholders for review and approval. Buyer and Seller are advised to seek advice from an attorney to determine therights and obligations.7. Foreclosure. Seller represents that to the best of Seller's knowledge, a foreclosure proceeding 0as not0as been filed witrespect to the Property. Further, if during the Short Sale process a foreclosure proceeding is filed, the Seller shall disclose sucforeclosure filing to the Buyer. Buyer and Seller understand that if Closing does not occur before the completion of a foreclosure othe Property, Seller wil l lose all rights and interest in the Property. In such event, the Contract shall be void, and the Earnest MoneDeposit shall be refunded to Buyer. Seller and Buyer acknowledge that if a real estate agent involved in the transaction contemplatedby the Contract knows or reasonably should know that a foreclosure proceeding with respect to the Property has been filed, the agenis required by law to disclose it to th e Buyer as a material fact

Page 1 of2l H This form jointly approved by:North Carolina Bar AssociationNortb Carolina Association of REAL TORS, Inc.REALTORi!JBuyer initials Seller initials _

Beverlv-Hanks &Associates 300 Executive Park Asheville. NC 1880 IPhone~ 828-254-722! Fax 828-255-8994 adrnin I adrnin I Untitle

~l.:J STANDARD FORM 2A14-roUALHMil leOPPORTUNITY

Revised 1/201 1/201

Produced with zlpForm by zipLogix 1B070 F 't te . .n M ile Road , Fraser M,ch'9an 48026 wwv.'.zlpLogix.cam


13/40

8. Tax Consequences and Advice. Seller is advised to seek advice from an attorney, a certified public accountant or otheprofessional regarding the credit, legal and tax consequences of a Short Sale.TNTHE EVENT OF A CONFLICT BETWEEN TIDS ADDENDUM AND THE OFFER TO PURCHASE AND CONTRACT ORHE VACANT LOT OFFER TO PURCHASE AND CONTRACT, TIDS ADDENDUM SHALL CONTROL.

THE NORTH CAROLINA ASSOCIATION OF REALTORS, INC. A 1 ; I D THE NORTH CAROLINA BAR ASSOCIATIONMAKE NO REPRESENTATION AS TO THE LEG.AL VA..LIDITY OR ADEQUACY OF ANY PROVISION OF TI-llS FORM INft.NY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDEFOR YOUR LEGA..LNEEDS. YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOUSIGN IT.

Buyer: ______________________________________________ (SEAL) Date _

Buyer: (SEA..L) Date _

Seller: _______________________________________________ (SEAW Date _

Seller: _______________________________________________ (SEAL) Date _

Page 2 of2STANDARD FORM 2A14-T

R e v is ed 1 12 '0 1 1/201

Produced wi th zipFo rm iJy z lpLog" 18070 F if teen Mile Road . Frase r. M ich igan 48026 www.zlpLog lx.GQm Unt i t l ed


14/40

ADDENDUM TO SALE CONTRACT

This Addendum is hereby attached and made a part of Sale Contract dated _between , Sellerand ,Purchaser. oproperty known as _

In the event of any conflict between this Addendum and the Sale Contract of which it is a part, the terms of thisAddendum shalf contra'.

Agreed to this the day of _ 2 0 _

PURCHASER: (Seal) SELLER,-: (SealPURCHASER: (Seal) SELLER,-: (Seal)Selling Agent: _ Listing Agent: _Selling Company: _ Listing Company: _

REA~ TOR~


15/40

ADDENDUM TO SALE CONTRACTBeverly I-HankS&ASSOCIATES

. ais Addendum is hereby attached and made a part of Sale Contract dated _between , Seller,and , Purchaser, ofproperty known as _

AREA REGIONAL AlRPORTS: Buyer acknowledges awareness of and possible noise associated with area regional airports. Manytypes of aircraft operate from these regional airports with varying traffic patterns depending on the wind and the weather conditions. Ththree main regional airports are: i) the Asheville Regional Airport which is located near Interstate 26 at mile marker 40, ii) theHendersonville Airport which is located at 1232 Shephard Street, Hendersonville; and iii) the Transylvania County Airport which islocated on Old Hendersonville Road, Penrose, The Buyer may desire to contact these regional airports to inquire into flight patterns andany other matters or concerns which the Buyer may have as to such airports. The Buyer may contact these airports at: i) AshevilleRegional Airport, Post Office Box 817, Fletcher, NC 28732 [828-684-2226]; ii) Hendersonville Airport, 1232 Shephard Street,Hendersonville, NC 28792 [828-693-1897]; iii) Transylvania County Airport, Post Office Box 1390, Etowah, NC 28729[828-877-5801]. Other small airports or landing strips are located throughout Western North Carolina and Buyer(s) is advised to seekout those which they feel may adversely affect the Property being purchased prior to closing. CLOSThJG SHALL CONSTITUTEACCEPTANCE OF THIS PROVISION, AND ALL OTHER CONDITIONS OF THE PROPERTY, BY THE BUYER(S).

In the event ofany conflict between this Addendum and the Sale Contract of which it is a part, the terms of thisaddendum shall control.Agreed to this the _ day of 20 _

Purchaser: (Seal) Seller: (Sea- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -Purchaser: (Seal) Seller: (Sea---------------------------------- -----------------------------------

Selling Agent: Listing Agent:Selling Company: Listing Company:

Re v 1 1 / 9 7


16/40

AGREEMENT TO AMEND CONTRACTWARNING: ALL PARTIES, INCLUDING ANY LENDER AND SETTLEMENT AGENT,

MUST BE PROVIDED A COPY OF THIS AGREEMENT, as Buyer, an

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - , 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 12-T) ("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) ):I : J Purchase Price. The Purchase Price is hereby changed to: $ __o Additional Earnest Money. $ Additional Earnest Money Deposit shall be paid to Escrow Agent no latethan , TIME BEING OF THE ESSENCE with regard to said dateD Building Deposit. The building deposit is hereby changed to: $I : J Due Diligence Fee. The Due Diligence Fee paid to Seller is hereby changed to: $ _r :J Due Diligence Period. The expiration date of the Due Diligence Period is hereby changed to:I : J Settlement Date. The Settlement Date is hereby changed to:r :J Expenses. The amount Seller shall pay at Settlement toward Buyer's expenses associated with the purchase of the Propertyhereby changed to: $All 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 LEGALVALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION.

Buyer: _ Date Seller:- - - - - - - - - - - - - - - - - - - - - - - -

Date

Buyer: _ Date Seller:- - - - - - - - - - - - - - - - - - - - - - -

Date

Page 1 of INorth Carolina Association ofREALTORS, Inc.mEALTOR!! ) Seller initials __ Buyer initials _ E . D U A L ~ C U S I N CDPf'ORTUNlrv STANDARD FORM 330-TRevised 1I20n 11201

Beverly-Hanks & Assoc ia tes 300 Execuuve Purk Asheville. NC :::!&&Ol Phone S2S-~S4-7:!21 Fax S::!8-.!S5-&994adrnml edminl Produced with zipForm bv zlpLopor 18070 Fifteen Mile Road. Fraser. M,ehlgan 48026 wwwzloLooix.com

unt i l l e


17/40


18/40

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~to--se-e-th~eP'r-o-p-erty~..-----------------------------------------------------------------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 AGREEMENTWITHOUT RES,PECT TO THE RACE, COLOR, RELIGlON, SEX, NATIONAL ORIGIN, HANDICAP OR FAMH.lALSJATUS OF ANY PARTY OR PROSPECTIVE PARTY TO THE AGREEMENT.Accordingly, the parties agree as follows:1. FEE. The Fee w in be deemed earned if Owner enters into a contract to sell the Property to Firm's Client at anytime within

days from th e date Owner signs this Agreement. Once earned, the Fee will be due and payable at th- - ~ - - ~ ~ ~ - - - - ~ ~ ~earlier o f closing or Seller's failure to sell the Property as a result of Seller's default on the contract. HOWEVER, if, prior to theexpiration of this Agreement and the execution of a contract to sell the Property, Owner enters into a valid listing agreement withanother real estate fum, Owner shall NOT be obligated to pay the Fee if the listing finn offers compensation to Firm throughmultiple listing service or otherwise.2. BUYER AGENCY. Owner acknowledges that Firm is the agent representing Client with respect to the Property. As the agenof 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 alinformation regarding this transaction given to the Firm by Owner be disclosed to Client. For example, if Owner discloses to Firmthat Owner is compelled by outside circumstances to sell by a certain date, or that Owner is prepared to lower the price, the Firmwould be required to disclose this information to Client. Owner is advised to keep this in mind when communicating with Firm, Bysigning this Agreement, Owner acknowledges that this Client agency relationship has been previously orally disclosed to Ownerwhen Pirm 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" BROCHUREOwner and Firm each acknowledge receipt of a signed copy of this document.THE NORTH CAROLINA ASSOCIATION OF REALTORS, INC. MAKES NO REPRESENTATION AS TO THE LEGALVALIDITY OR ADEQU ACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION.OWNER(S).: FIRM:

By: - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -Date:

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -I BEALTOR" 'Date:

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -Page 1 of INorth Carolina Association ofREALTORS, Inc.

EOUA l HaUS I~GOPPORTUNITY

STANDARD FORM 150R evise d 1120 1

112011Beverly-Hanks & Associates 300 Executive Park Asheville. NC :;gS"Ol Phone' 81S-~:54-122] F3X: E2S-}55-8994adrmnl adminl Produced with zlpF'Orm by z ipLo_gfx 18070 Fif teen Mile Road. Fraser, Michigan 48026 vrNWV.z lpLogi)( .c :am

Umiu


19/40

CONFIRMATION OF AGENCY RELATIONSIDP, APPOINTMENT & COMPENSATIONNOTE: When working with an Unrepresented Seller (For Sale By Owner) you should use Form J 50.

See Guidelines (Standard Form 220G) on proper use of this form.;0 LISTING AGENT: _~NAME: __FAX#: _fROMSELLINGAGENT: __flRMN/\lvIE: _FAX#: _Thank you for checking with your eller and permitting me to show your listing as a 0uyer agent 0ubagent of seller.

Email:

Email:

PROPERTYDESC~TION: _NAMtOFBUYER: _APPOINTMENT DATE: TIME: _FEE ARRANGEMENT:

(a) You hereby confirm that your offer of compensation to my finn regarding any sale of the Property to Buyer shall be afollows: _. ___

I understand that my finn's entitlement to the compensation set forth above will be determined by my performance as the procuringcause of any sale of the Property to Buyer. Your signature on this document does not constitute an acknowledgment that I amthe procuring cause of any such sale.

(b) If Ihave received or am to receive any other fee(s) in connection with the sale of the Property, Ihereby confirm thasuch 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 LEGALVALIDITY OR ADEQUACY OF ANY PROVISION OF .rms FORM IN ANY SPECIFIC TRANSACTION.Listing Agent Date

Selling Agent DateoBuyer agent DSubagent of SellerACKNOWLEDGEMENT 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 1ID North Carolina Association of REALTORS, Inc.

REALTOR' " EOU~lHDUSINGOPPD"rUNITY

STANDARD FORM 22Revised 1/2011

1/2011Beverly-Hanks & Associates 300 Executive run. Asheville. NC :!.f;SUI Phone: S2S':~5+~~ I Fax. 82Sw:'!55-S9t)4edmml adrninl Produced with zlpFormhy ZJpLoglX 18070 Fitleen MIle Road, Fraser, M,ch'gan 411026 www.zIQLogI.com

Unrule
http://www.ziqlogi.com/http://www.ziqlogi.com/


20/40

ESPONSE TO BUYER'S OFFERTO: ___

RE: OFFERTOPURCHASE - = ~ ~ - - - - - - - - - - - - - - - - - - - - - - - - -Property Address

Dated: _

Thank you for your offer to purchase the above property (the "Property"). I/we cannot accept the offer as written and herebyreject it . However, while this is not a counter offer, I/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 topurchase 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 THELEGAL VALInITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN " ANY SPECIFIC TRANSACTION.

Seller Date Time

Seller Date Time

Page 1 of 1

North Carolina. Association of REAL TORS, Inc.l BE A L T O R ' " E D U Al H O U SI N GOPP~RTU'-lITY STANDARD FORM 340-Revised 7/200 11201Beverly-Hanks & Associates 300 Executive Park Ashevil le. NC 28801Phone: 828-254-7221 Fax: 828255-8994 admin l admin l Untille

Produced with ZlpForm by 21pLoglx ' 8Q70 Fi fteen Mile R.oad , Fraser , Michigan 48026 wwv. \zlpLog l' .Gom


21/40

AGENCY AGREEMENT RENEWAL AND/OR AMENDMENT

ihis AGENCY AGREEMENT RENEWAL AND/OR AMENDMENT renews and/or amends the following agency agreemen(referred to hereafter as the "Agency Agreement")o NCAR Form #101 (Exclusive Right to Sell Listing Agreement)o NCAR Form #103 (Exclusive Right to Sell Listing Agreement (Vacant Lot/Land)o NCAR Form #201 (Exclusive Buyer Agency Agreement)o NCAR Form #203 (Non-Exclusive Buyer Agency Agreement)o NCAR Form #601 (Exclusive Right to Sell Listing Agreement - Auction Sales)

dated _dated-------dated _dated _dated _

Pro~~Ad&~~ML~~~pli~hl~:---- _

Client and Finn agree that the Agency Agreement is hereby renewed and/or amended in the manner indicated below (Fill in applicableblanks; enter "N/A" in any blank not used) :

Renewed and extended until midnight, . Inthe event that the term of the AgencyAgreement has expired, Client and Firm specifically agree that this Agency Agreement Amendment and/or Renewal shaoperate to revive the Agency Agreement for the agreed-upon period of time.Price shall be changed from $ to $ _Other amendments: _

AU 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 LEGALVALIDrTY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION.

Client Drue _

Client Date _

Finn (FinnName) _

By~~~~~-----~-------------------------------------------------Date--------------Authorized Representative

I BEALTOR'~ Page 1 of1 E C U A l H O U S N eOPPCRTUNITY STANDARD FORM 71Revised 1(201 1/2011North Carolina Association of REAL TORS, Inc.Beve rlv - F lunks & . Assocunes .' lO()EXCCUi11'C' ! 'i n l: A s he -v il l i: NC ~ A R O ' Phone- lC!:>:::!.5-l.-2~ I Fa.. ~~~-255~~IJLlJannunl adnuut ProoucecJ v.~It z:oi=nrrn'! 0', :mLotll 1SCT7r~Ihee' MII~ Rca:. ;:::;2S;-' MI:::hl;mr 4802, ~ '_~ }Lo (] l. ::;{It'1"'


22/40

Beverly-Hanks&ASSOCIATESListing Agent/Seller Request for Information

Offer to Purchase and Contract: Paragraph 8(a)To: Listing Agent:

Fax # . : Email:-------------- - - - - - - - - - - - - - - - - - - -From: Selling Agent _

Fax #: Email:Date:

Property Address:Seller(s) Name(s):

Buyer(s) Name(s):

Beverly-Hanks & Associates is pleased to assist with this transaction. As you know, in the Offer to Purchase andContract, Paragraph 8(a) states the Seller is fo quickly provide copies of all title information. These documentssupply 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*Attorney's Opinions on Title""Surveys""Covenants""Deeds* Notes and Deeds of Trust* Easements

Please include any other documents you believe would be informative or valuable to the Buyer or Buyer'sattorney. 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: Seller agrees to use his best efforts to deliver to Buyer as soon as reasonably possible after the Effective Date. copiesof all title information in possession of or available to Seller, including but not limited to: t itle insurance policies, attorney's opinions on titie,surveys, covenants, deeds, notes and deeds of trust and easements relating to the Property. Seller authorizes (1) any attorney presently orpreviously representing Seller to release and disclosure any title insurance policy in such attorney's file to Buyer and both Buyer's and Seller'sagents and attorneys; and (2) the Property's t itle insurer Dr it s agent to release and disclose all materials in the Property's tit le insurers (or t itleinsurer's agent 's) f ile to Buyer and both Buyer's and Seller's agents and attorneys.

Thank you for your expedient response. It will help insure that we remain in compliance with the agreed uponclosing dates required in the contract and assist with providing a smooth closing.

rev.01/201


23/40

Beverly-HankS&ASSOCIATES

COMMISSION DISCLOSU RE STATEM ENT

Payment of Marketing Fee and Disclosure of Fee Division. Buyer understands that included inany construction contract with (Builder) is a commission feeof 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 pnce 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 closingI (We) acknowledge receipt of this Disclosure Statement, this the day of ____________ (SEAL) ___________ (SEAL)Buyer Buyer

___________ (SEAL)Beverly-Hanks & , Associates

LOT# _ _ Street~ _ Neighborhood _

Legal Description, _


24/40

,, SYNTHETIC STUCCO DISCLOSURE STATEMENTNotice to Owner and PurchaserSynthetic stucco, also known as exterior insulating and finishing system, is used as an exterior finish in home andother buildings, The use of synthetic stucco as an exterior [wish may increase the risk of excessive moisture in thewalls or structural components of th e building. Excessive moisture over time may cause wood to rot and othermaterials to deteriorate. Moisture drainage is difficult to detect. A thorough inspection by a qualified professional ishighly 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. Materialfacts are required to be disclosed to prospective purchasers of the 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 initial one of the following:

____ (a) Synthetic stucco has been used inthe construction of the above property.(b) Synthetic stucco has not been used in the construction of the above property.---(c) Ido not know whether synthetic stucco was used in the construction of the above property,---- but will it inspected.(d) I do not know whether synthetic stucco has been used in the construction of the above--- property, and will not have the property inspected.

2 I understand that this Disclosure Statement will be part of my real estate agent's file on the property.3 .. Iunderstand that my real estate agent must provide this Disclosure Statement to prospective purchasers and their agentsin connection with the sale of the property. My real estate agent may make photocopies of this Disclosure Statement whichshall 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 fuIly read and signed this Synthetic Stucco Disclosure Statement on the date indicatedbelow.

OVv'NER Date OWNER Date

The undersigned purchaser(s) or prospective purchaser(s) acknowledge receipt of a copy of this Synthetic StuccoDisclosure Statement and acknowledge that they have read it.

PURCHASER Date PURCHASER Date

USTING AGENT: _SELLING AGENT:~ _

Asheville Board ofREALTORS, Inc. April, 1996FOml#~_R&S: 75090-1


25/40

CTS DisclosureThis attachment is bereby made a part of the Residential Property Disclosuredated: regarding property located at: _

The subject property is bordered' by or near the former CTS manufacturing facility,whlch factory or facility is generally recognized in the community as bavingenvironmental contamination issues or concerns. It is the Buyers sole responsibiHtyto investigate to their satisfaction any and all concerns they may have regarding thisissue.Questions concerning this property may be directed to the North Carolina DivisionofWaste Management, Superfund Section, Inactive Hazardous Sites Branch, 401Oberlin Road, Suite 150,Raleigh, NC 27605, Phone 919-508-8400orhttp://wastenot.enr.state.nc.us/sfhome/ihsbrnch.htm.

Owners Initials and Date:-----------------Owners Initials and Date:-------------------

Purchaser Initials and Date:----------------Purchaser Initials andDate: -----------------

B-R- EllvironmcnlallZ/09
http://wastenot.enr.state.nc.us/sfhome/ihsbrnch.htm.http://wastenot.enr.state.nc.us/sfhome/ihsbrnch.htm.


26/40

OFFER TO PURCHASE AND CONTRACT - VACA1\'T 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 an simmediate plans to subdivide. It should not be used to sell property that is being subdivided unless the property has been platteproperly approved and recorded with the register of deeds as of the date of the contract. If Seller is Buyer's builder and the sale involvthe construction of a new single family dwelling prior to closing, use the standard Offer to Purchase and Contract=-New Constructio(Faun 800-T) or, if the construction is completed, use the Offer to Purchase and Contract (Form 2-T) with the New ConstructioAddendum (Form 2A3-T).For valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged. Buyer offers to purchase and Seller upacceptance agrees to sell and convey the Property on the terms and conditions of this Offer To Purchase and Contract and any addenduor modification made in accordance with its terms (together the "Contract").1. TERMS AND DEFINITIONS: The terms listed below shall have the respective meaning given them as set forth adjacent to eaterm.

(a) "Seller": - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -(b) "Buyer": _(c) "Property": The Property shall include all that real estate described below together with all appurtenances thereto includingimprovements located thereon.Street Admess: ~~------------------City: Zip:County: , North Carolina(NOTE: Governmental authority over taxes, zoning, school districts utilities and mail delivery may differ from address shown.)Legal Description.: (Complete ALL applicable)Plat Reference: LotlUnit , Block/Section -..,:-- , Subdivision/Condominium____________ ----, __ -r-t- __ ,-::----, ...-.,,__ --:- -------,- as shown on Plat Book/Slide at Page(s) ~The PlNlPID or other identification number of the Property is:Other description: = - - : - - - : - _ _ -::--:-:---::::----:-:=---:- -=Some or all of the Property may be described in Deed Book at Page

paid in U.S. Dollars upon the following terms:BY DUE Dll.JGENCE FEE made payable to SellerBY INITIAL EARNEST MONEY DEPOSIT made payable to Escrow Agent namin Paragraph] (f) with this offer by 0cash 0personal check 0official bank cheo other: ==~:-7":--;::-:-:-:==::_:__:_::::~::_:__;::_;=:::-:::-:;:::::_--_:_--__:_:_--_=_----_;_-BY (ADDITIONAL) EARNEST MONEY DEPOSIT made payable to Escrow Agnamed in Paragraph l(t) by cash or immediately available funds suchofficial bank check or wire transfer to be delivered to Escrow Agent no later th__ ---;:----:-:-: , TIME BEING OF THE ESSENCE wregard to said date.

$ BY ASSUMPTION of the unpaid principal balance and all obligations of Seller onexisting loan(s) secured by a deed of trust on the Property in accordance with the attachLoan Assumption Addendum (Standard Form 2A6-T).$ BY SELLER FINANCING in accordance with the attached Seller Financing Addendu(Standard Form 2A5-T).$ BALANCE of the Purchase Price in cash at Settlement (some or all of which may be pwith 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 acheck or other funds paid by Buyer be dishonored, for any reason, by the institution upon which the payment is drawn, Buyer sh

have one (1) banking day after written notice to deliver good funds to the payee. In the event Buyer does not timely deliver gofunds, Seller shall have the right to terminate this Contract upon written notice to Buyer.

(d) "Purchase Price":$$$

$

Page 1 of8

1 , 1 3 . North Carolina Association ofREALTORS, WO, O U A l H O U S I II CO P P O R T U N I T Y STANDARD FORM 12Revised 1/20 1/20Buyer initials _ Sell er initials ---------

Beverly-Hanks & Associates 300 Executive Park Ashevi lle, NC 28801Phone: 818-:~54 7221 Fax: 8282558994 adrnin I adrnin IProduced wllh zlpForm by zlpLog" 18D70 Fifteen Mile Road. Fras' Michigan 48026 wwwzlpLoglx com

Untill


27/40

(e) "Earnest Money Deposit": The Initial Earnest Money Deposit, the Additional Earnest Money Deposit and any other earnmonies paid in connection with this transaction, hereinafter collectively referred to as "Earnest Money Deposit", shall be depositand held in escrow by Escrow Agent until Closing, at which time it will be credited to Buyer, or until this Contract is otherwterminated, In the event (1) this offer is not accepted; or (2) a condition of any resulting contract is not satisfied, then the EarnMoney Deposit shall be refunded to Buyer. In the event of breach of this Contract by Seller, the Earnest Money Deposit shallrefunded to Buyer upon Buyer's request, but such return shall not affect any other remedies available to Buyer for such breach. Inevent of breach of this Contract by Buyer, the Eamest Money Deposit shall be paid to Seller upon Seller's request as liquidatdamages and as Seller's sale and exclusive remedy for such breach, but without limiting Seller's rights under Paragraphs 2(c)2ed) for damage to the Property or Seller's right to retain the Due Diligence Fee. It is acknowledged by the parties that paymentthe Earnest Money Deposit to Seller in the event of a breach of this Contract by Buyer is compensatory and not punitive, suamount being a reasonable estimation of the actual loss that Seller would incur as a result of such breach. The payment ofEarnest Money Deposit to Seller shall not constitute a penalty or forfeiture but actual compensation for Seller's anticipated loss, bparties acknowledging the difficulty determining Seller's actual damages for such breach. If legaJ proceedings are brought by Buor Seller against the other to recover the Earnest Money Deposit, the prevailing party in the proceeding shall be entitled to recofrom the non-prevailing party reasonable attorney fees and court costs incurred in connection with the proceeding.(0 "Escrow Agent" (insert name):(NOTE: In the event. of a dispute between Seller and Buyer over the disposition of the Earnest Money Deposit held in escrowlicensed real estate broker ("Broker") is required by state law (and Escrow Agent, if not a Broker, hereby agrees) to retainEarnest Money Deposit in the Escrow Agent's trust or escrow account until Escrow Agent has obtained a written release fromparties consenting to its disposition or until disbursement is ordered by a court of competent jurisdiction. Alternatively, if a Brokerholding the Eamest Money Deposit, the Broker may deposit the disputed monies with the appropriate clerk of court in accordanwith the provisions ofN.c.GS. 93A-I2.)THE PARTlES AGREE THAT A REAL ESTATE BROKERA.GE FIRM ACTING AS ESCROW AGENT MAY PLACE TEARNEST MONEY DEPOSIT IN AN INTEREST BEARING TRUST ACCOUNT AND THAT ANY INTEREST EARNETHEREON SHALL BE DISBURSED TO THE ESCROW AGENT MONTIrr,Y IN CONSIDERATION OF THE EXPENSElNCURRED 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,any, and (2) such signing or initialing is communicated to the party making tbe offer or counteroffer, as the case may be.(h) "Due Diligence": Buyer's opportunity during the Due Diligence Period to investigate the Property and the transacticontemplated by this Contract, including but not necessarily limited to the matters described inParagraph 2 below, to decide whethBuyer, in.Buyer's sale 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 DDiligence during the Due Diligence Period. It shall be the property of Seller upon the Effective Date and shall be a credit to BuyerClosing. The Due Diligence Fee shall be non-refundable except inthe event of a material breach of this Contract by Seller, or ifContract is terminatedunder Paragraph 6(1) or Paragraph 9, or as otherwise provided in any addendum hereto. Buyer and Seller eexpressly waive any right that they may have to deny the right to conduct Due Diligence or to assert any defense as toenforceability of this Contract based on the absence or aUeged insufficiency of any Due Diligence Fee, it being the intent ofparties to create a legally binding contract for the purchase and sale of the Property without regard to the existence or amount ofDue Diligence Fee.(j) "Due Diligence Period": The period beginning on the Effective Date and extending through 5:00 p.m._____________________ . TIME BEING OF THE ESSENCE with regard to said da(k) "Settlement": The proper execution and delivery to the settlement agent of all documents necessary to complete the transacticontemplated by this Contract, including the deed, settlement statement, deed of trust and other loan or conveyance documents,the settlement agent's receipt of all funds necessary to complete such transaction.(1 ) "Settlement Date": The parties agree that Settlement will take place onunless otherwise agreed in writing, at a time and place designated by Buyer. ___________ (the "Settlement Date

Page 2 of8

Buyer initials _ Seller initials _STANDARD FORM 12-T

Revised 11201 11201

Pronucec w,ll1 zlpForm by zlpLogix 18070 F if teen Mile Road. F raser . M ich igan 48026 wwwZipLoglX.com Untitle


28/40

em) "Closing": The legal process which results in the transfer of title to the Property from Seller to Buyer. Closing includesfollowing steps: (1) the Settlement (defined above): (2) the completion of a satisfactory title update to the Property followingSettlement; (3) the settlement agent's receipt of authorization to disburse all necessary funds; and (4) recordation in the appropriacounty registry of the deed(s) and deed(s) of trust, if any, which shall take place as soon as reasonably possible for the settlemeagent after Settlement. Upon such recordation of the deed(s) and deed(s) of trust, if any, Closing shall be deemed completed andproceeds of sale shall be disbursed by the settlement agent in accordance with the settlement statement and the provisions of Chap45A of the North Carolina General Statutes. If the title update should reveal unexpected liens, encumbrances or other title defects,if the settlement agent is not authorized to disburse all necessary funds, then the Closing shall be suspended and the Settlemedeemed delayed under Paragraph 10 (Delay inSettlement/Closing).(n) "Special Assessments": A charge against the Property by a governmental authority in addition to ad valorem taxes or byowners' association in addition to any regular assessment (dues), either of which may be a lien against the Property. A SpecAssessment may be either proposed or confirmed."Proposed Special Assessment": A Special Assessment that is under formal consideration but which has not been approved prto Settl.ement."Confirmed Special Assessment": A Special Assessment that has been approved prior to Settlement whether or not it is fupayable at time of Settlement.

2. BUYER.'S DUE DILIGENCE PROCESS:(a) Loan: During the Due Diligence Period, Buyer, at Buyer's expense, shall be entitled to pursue gualification for and approvalthe Loan ifany.NOTE: Buyer is advised to consult with Buyer's lender prior to signing this offer to assure that tbe Due Diligence Period allosufficient time for the appraisal to be completed and for Buyer's lender to provide Buyer sufficient information to decide whetherproceed with or terminate the transaction.(b) Property Investigation: During the Due Diligence Period, Buyer or Buyer's agents or representatives, at Buyer's expenshall be entitled to conduct all desired tests, surveys, appraisals, investigations, examinations and inspections of the PropertyBuyer deems appropriate, including but NOT limited to the following:(i) Soil, Utilities And Environmental: Reports to determine whether the soil is suitable for Buyer's intended use awhether there is any environmental contamination, law, rule or regulation that may prohibit, restrict or limit Buyeintended use.(ii) Septic/Sewer System: Any applicable investigation(s) to determine: (1) the condition of an existing sewage system,the costs and expenses to install a sewage system approved by an existing Improvement Permit, (3) the availability aexpense to connect to a public or community sewer system, andlor (4) whetber an Improvement Permit or writevaluation may be obtained from the County Health Department for a suitable ground absorption sewage system.(iii) Water: Any applicable investigation(s) to determine: (1) the condition of an existing private drinking water well, (2)costs and expenses to install a private drinking water well approved by an existing Construction Permit, (3)availability, costs and expenses to connect to a public or community water system, or a shared private well, andlorwhether a Construction Permit may be obtained from the County Health Department for a private drinking water well.(iv) Review of Documents: Review of the Declaration of Restrictive Covenants, Bylaws, Articles of Incorporation, Rules aRegulations, and other governing documents of any applicable owners' association and/or subdivision. If the Propertysubject to regulation by an owners' association, i t is recommended that Buyer review the completed Owners' AssociatiDisclosure And Addendum (Standard Form 2A12-T) provided by Seller prior to signing this offer.(v) Appraisals: Anappraisal of the Property,(vi) Survey: A survey to determine whether there are any encroachments on the Property from adjacent properties (fencdriveways, etc.), encroachments from the Property onto adjacent properties, road or utility easements crossingProperty, lack of legal access to a public right-of-way, or indefinite or erroneous legal descriptions in previous deedsthe Property.(vii) Zoning and Governmental Regulation: Investigation of current or proposed zoning or other governmental regulatithat may affect Buyer's intended use of the Property, adjacent land uses, planned or proposed road construction, aschool attendance zones.

(viii) Flood Hazard: Investigation of potential flood hazards on the Property, andlor any requirement to purchase floinsurance in order to obtain the Loan.

Page Lof S

Buyer initials _ Seller initials _STANDARD ,FORM 12-T

Revised 1/201 1/201

Produced wi th ZlpFo rm by zlpLoglx 18070 Fi fteen Mile Road, Fraser , M ichIgan 48026 \OOIWW,z loLog jx.com Un t i l l e d


29/40

(c) Buyer's Ohllgation to Repair Damage: Buyer shall, at Buyer's expense, promptly repair any damage to the Properresulting from any activities of Buyer and Buyer's agents and contractors, but Buyer shall not be responsible for any damage causby accepted practices applicable to any N.C. licensed professional performing reasonable appraisals, tests, surveys, examinations ainspections of the Property. This repair obligation shall survive any termination of this Contract.(d) Indemnity: Buyer will indemnify and hold Seller harmless from all loss, damage, claims, suits or costs, which shaIl ariseof any contract, agreement, or injury to any person or property as a result of any activities of Buyer and Buyer's agents acontractors relating to the Property except for any loss, damage, claim, suit or cost arising out of pre-existing conditions ofProperty and/or out of Seller's negligence or willful acts or omissions. This indemnity shall survive this Contract and any terminatiohereof.(e) Buyer's Right to Terminate: Buyer shall have the right to terminate this Contract for any reason or no reason, by deliveringSeller written notice of termination (the "Termination Notice") during the Due Diligence Period (or any agreed-upon writtextension of the Due Diligence Period), TIME BEING OF THE ESSENCE. If Buyer timely delivers the Termination Notice, tContract shall be terminated and the Earnest 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 Contraprior to the expiration of the Due Diligence Period, unless Buyer can obtain a written extension from Seller. SELLER IS NOOBLIGATED TO GR.P.NT AN EXTENSION. Buyer's failure to deliver a Termination Notice to Seller prior to the expiration ofDue Diligence Period shall constitute a waiver by Buyer of any right to terminate this Contract based on any matter relatingBuyer's Due Diligence.NOTE: Following the Due Diligence Period, Buyer may still exercise a right to terminate this Contract for any other reaspermitted under the terms of this Contract or North Carolina law.(f) CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN .EXISTING CONDITIOUNLESS PROVISION IS OTHERWISE MADE IN WRITING.

3. BUYER REPRESENTATIONS:(a) Loan: Buyer 0 does D.does not have to obtain a new loan in order to purchase the Property. If Buyer is obtaining aneloan, Buyer intends to obtain a loan as follows: 0Conventional 0Other: loan ao Fixed RateD Adjustable Rate in the principal amount of for a term of yearts),an initial interest rate not to exceed % per annum (the "Loan").NOTE: If Buyer represents that Buyer does not have to obtain a new loan in order to purchase the Property, Seller is advised prto signing this offer, to obtain documentation from Buyer which demonstrates that Buyer will be able to close on the Properwithout the necessity of obtaining a new loan.(b) Other Property: Buyer 0does 0does not have to sell or lease other real property in order to qualify for a new loan orcomplete purcbase. (NOTE: If Buyer does have to sell, Buyer and Seller should consider including a Contingent Sale Addendu(Standard Form 2A2-T) with this offer.)(c) Performance of Buyer'S Financial Obligations: To the best of Buyer's knowledge, there are no other circumstancesconditions existing as of the date of this offer that would prohibit Buyer from performing Buyer's financial obligations inaccordancwith this Contract, except as may be specifically set forth herein.

4. BUYER OBLIGATIONS:(a) Owners' Association Fees/Charges: Buyer shall pay any fees required for confmning account payment informationowners' association dues or assessments for payment or proration and any charge made by the owners' association inconnection wthe disposition of the Property to Buyer, including any transfer and/or document fee imposed by the owners' association. Buyer shnot be responsible for fees incurred by Seller in completing the Owners' Association Disclosure and Addendum (Standard Fo2A12-T).(b) Responsibility for Proposed Special Assessments: Buyer shall take title subject to all Proposed Special Assessmendisclosed by Seller in Paragraph 5(b), if any.

Page 4 of8

Buyer initials _ Seller initials _STANDARD FORM.12-T

Revised 1/21) 1 1I2()11

Proouced with zlpForm@byzIPLogl. 18070 Fif ieen Mile Road, Fraser, Michigan 48026 wv.w.zigLog ix .com Untilled


30/40

(c) Responsibility for Certain Costs: Buyer shall be responsible for all costs with respect to any loan obtained by Buyeappraisal, title search, title insurance, recording the deed and for preparation and recording of all instruments required to secure tbalance of the Purchase Price unpaid at Settlement.5. SELLER REPRESENTATIONS:(a) Ownership: Seller represents that Seller:10 has owned the Property for at least one year.D has owned the Property for less than one year.o does not yet own the Property.

(b) Assessments: To the best of Seller's knowledge there are no Proposed Special Assessments except as follows (Insert "None"the identification of such assessments, ifany): _Seller warrants that there are no Confirmed Special Assessments except as follows (Insert "None" or the identification of suassessments, if any): _(c) Owners' Association(s) and Dues: To best of Seller's knowledge, ownership of the Property 0ubjects 0does not subjeBuyer to regulation by one or more owners' association(s) and governing documents, which impose various mandatory covenantconditions and restrictions upon the Property and Buyer's enjoyment thereof, including but not limited to obligations to pay regulassessments (dues) and Special Assessments. If there is an owners' association, then an Owners' Association Disclosure aAddendum (Standard Form. 2A12-T) shall be completed by Seller, at Seller's expense, and must be attached as an addendum to thContract.(d) Sewage System Permit: (0 Applicable 0 Not Applicable) Seller warrants that the sewage system described in tImprovement Permit attached hereto has been installed, which representation survives Closing, but makes no further representationas to the system.(e) Private Drinking Water WeU Permit: (0Applicable 0Not Applicable) Seller warrants that a private drinking water whas been installed, which representation survives Closing, but makes no further representations as to the well. (If well installed afJuly 1,2008, attach Improvement Permit hereto.

6. SELLER OBLIGATIONS:(a) Evidence of Title: Seller agrees to use best efforts to deliver to Buyer as soon as reasonably possible after the Effective Dacopies of all title information in possession of or available to Seller, including but not limited to: title insurance policies, attorneyopinions on title, surveys, covenants, deeds, notes and deeds of trust and easements relating to the Property. Seller authorizes (1) aattorney presently or previously representing Seller to release and disclose any title insurance policy in such attorney's file to Buyand both Buyer's and Seller's agents and attorneys; and (2) the Property's title insurer or its agent to release and disclose all materiain the Property's title insurer's (or title insurer's agent's) file to Buyer and both Buyer's and Seller's agents and attorneys.(b) Access to Property: Seller shall provide reasonable access to the Property (including working, existing utilities) through tearlier of Closing or possession by Buyer. To the extent applicable, Seller shall also be responsible for timely clearing that portionthe Property required by the County to perform tests, inspections and/or evaluations to determine the suitability of the Property fosewage system and/or private drinking water well.(c) Removal of SeUer's Property: Seller shall remove, by the da.te possession is made available to Buyer, all personal properwhich is not a part of the purchase and all garbage and debris from the Property.(d) Affidavit and Indemnification Agreement: Seller shall furnish at Settlement an affidavit and indemnification agreementform satisfactory to Buyer and Buyer's title insurer, if any, executed by Seller and any person or entity who has performedfurnished labor, services, materials or rental equipment as described in N.C.G.S. 44A-8 to the Property within 120 days prior to tdate of Settlement verifying that each such person or entity has been paid in full and agreeing to indemnify Buyer, Buyer's lender(and Buyer's title insurer against all loss from any cause or claim arising therefrom.(e) Payment and Satisfaction of Liens: All deeds of trust, liens and other charges against the Property, not assumed by Buyemust be paid and sa.tisfied by Seller prior to or at Settlement such tbat cancellation may be promptly obtained following ClosinSeller shall remain obligated to obtain any such cancellations following Closing.

Page 5 of8

Buyer initials _ Seller initials -----STANDARD FORM 12-T

Revised 1120II 1120]

Produced wi lh zrpForm by zipt .oq lx 18070 F if teen Mi le Road . Frase r. M ,ch 'gan 48026 www.zipLogix.com Untilled
http://www.ziplogix.com/http://www.ziplogix.com/


31/40

(f) Title, Legal Access: Seller shall execute and deliver a GENERAL WARRANTY DEED for the Property at Settlement unleotherwise stated herein, which shall convey fee simple marketable and insurable title, free of all encumbrances except: ad valoretaxes for the current year (prorated through the date of Settlement); utility easements and unviolated restrictive covenants that domaterially affect the value of the Property; and such other encumbrances as may be assumed or specifically approved by Buyerwriting, 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 Addendu(Standard Form 2AI4-T) as an addendum to this Contract.(g) Deed, Excise Taxes: Se l le r shall pay for preparation of a deed and all other documents necessary to perform Selleobligations under this Contract, and for state and county excise taxes required by law. The deed is to be made to:

(h) Agreement to Pay Buyer Expenses: Seller shall pay at Settlement $ :-:---::,------,--:----: toward any of Buyeexpenses associated with the purchase of the Property, less any portion disapproved by Buyer's lender.NOTE: Examples of Buyer's expenses associated with the purchase of the Property include, but are not limited to, discount poinloan origination fees, appraisal fees, attorney's fees, inspection fees, and "pre-paids" (taxes, insurance, owners' association duetc.).(i) Payment of Confirmed Special Assessments: Seller shall pay all Confirmed Special Assessments, if any, provided thatamount thereof can be reasonably determined or estimated.U ) Late Listing Penalties: All property tax late listing penalties, if any, shall be paid by Seller.(k) Owners' Association Disclosure and Addendum (Standard Form 2A12-T): If applicable, Seller shall provide the completOwners' Association Disclosure and Addendum (Standard Form 2AI2-T) to Buyer on or before the Effective Date.(1) Seller's Failure to Comply or Breach: If Seller fails to materially comply with any of Seller's obligations under tParagraph 6 or Seller materially breaches this Contract, and Buyer elects to terminate this Contract as a result of such failurebreach, then the Earnest Money Deposit and the Due Diligence Fee shall be refunded to Buyer and Seller shall reimburse to Buythe reasonable costs actually incurred by Buyer in connection with Buyer's Due Diligence without affecting any other remedies.PRORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated through the datetlernent and either adjusted between the parties 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, for the Property;(c) 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 Closingon 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. If the improvementsthe Property are destroyed or materially damaged prior to Closing, Buyer may terminate this Contract by written notice deliveredSeller or Seller'S agent and the Earnest Money Deposit and any Due Diligence Fee shall be refunded to Buyer. In the event Buyer doNOT elect to terminate this Contract, Buyer shall be entitled to receive, in addition to the Property, any of Seller's insurance proceepayable on account of the damage or destruction applicable to the Property being purchased. Seller is advised not to cancel existiinsurance 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 modificatiothereto, if a party is unable to complete Settlement by the Settlement Date but intends to complete the transaction and is acting in gofaith and with reasonable diligence to proceed to Settlement (nDelaying Party"), and if the other party is ready, willing and ablecomplete Settlement on the Settlement Date ("Non-Delaying Party") then the Delaying Party shall give as much notice as possible toNon-Delaying Party and settlement agent and shall be entitled to a delay in Settlement. If the parties fail to complete Settlement aClosing within fourteen (14) days of the Settlement Date, or to further extend the Settlement Date by written agreement thenDelaying Party shall be in breach and the Non-Delaying Party may terminate this Contract and shall be entitled to enforce any remediavailable to such party under this Contract for the breach.

Page6of8

Buyer initials _ Seller initials _STANDARD FORM l2-T

Revised 11201 11201

Produced W1t~z ,pFor rr by ZlpLoglx 18070 F if teen Mile Road , F raser . M icn ig.n 48026 www.z'pLog lX.cQm Untitle


32/40

11. POSSESSION: Unless otherwise provided herein, possession shall be delivered at Closing. No alterations, excavations, treevegetation removal or other such activities may be done before possession is delivered.12. OTHER PROVISIONS AND CONDITIONS: CHECK ALL STANDARD ADDENDA THAT MAY BE A PART OF THCONTRACT, IF ANY, AND ATTACH HERETO. ITEMIZE ALL OTHER ADDENDA TO THIS CONTRACT, IF ANY, A}ATTACH HERETO.NOTE: UNDER NORTH CAROLINA LAW, REAL ESTATE BROKERS ARE NOT .PERMlTTED TO DRAFT CONDITIONS OCONTINGENCIES TO THIS CONTRACT.

o Additional Provisions Addendum (Form lAII-T)o Back-Up Contract Addendum (Form 2AI-T)o Contingent Sa1eAddendum (Form 2A2-T) o Loan Assumption Addendum (Form 2A6-T)DOwners' Association Disclosure And Addendum (Form 2Al2-I)D Seller Financing Addendum (Form lA5- T)o Short Sale Addendum (Form 2A14-T)OOTHER:13. ASSIGNMENTS: This Contract may not be assigned without the written consent of all parties except in connection with a tdeferred exchange, but ifassigned by agreement, then this Contract shall be binding on the assignee and assignee's heirs and successors.14. TAX-DEFERRED EXCHANGE: In the event Buyer or Seller desires 10 effect a tax-deferred exchange in connection withconveyance of the Property, Buyer and Seller agree to cooperate in effecting such exchange; provided, however, that the exchanginparty shall be responsible for all additional costs associated with such exchange, and provided further, that a non-exchanging party shnot assume any additional liability with respect to such tax-deferred exchange. Buyer and Seller shall execute such additional documenincluding assignment of this Contract in connection therewith, at no cost to the non-exchanging party, as shall be required to give effto this provision.15. PARTIES: This Contract shall be binding upon and shall inure to the benefit of Buyer and Seller and their respective heisuccessors and assigns. As used herein, words in. the singular include the plural and the m

F. Contract Section Part 2

Documents

Transcript of F. Contract Section Part 2