|
300
<br />
<br /> The Seller hereby agrees to sell and convey, and the Buyer hereby agrees
<br />to purchase, the above-described real property, together with all permanent
<br />improvements located thereon upon the following terms, provisions, conditions,
<br />and agreements:
<br />
<br /> 1. PURCHASE PRICE: The purchase price payable to the Seller by the
<br />Buyer shall be the sum of THREE HUNDRED FORTY-EIGHT THOUSAND .... DOLLARS
<br />($348,000.00) payable as follows:
<br /> (a) $69,600.00 as a binder deposit paid hereby to be held in escrow
<br /> by Craven & Company Realtors as agent and to be credited toward the
<br /> purchase price at closing.
<br /> (b) $278,400.00 shall be paid in cash, bank or certified check at the
<br /> time of closing.
<br />
<br /> 2. CLOSING: The closing of the sale and purchase of the property shall
<br />take place on or before sixty days, 1988, at the law offices of Williams,
<br />Boger, Grady, Davis & Tuttle, P.A., 810 Union Street, South, Concord, North
<br />Carolina, or at such other place as shall be mutually agreed upon by Seller
<br />and Buyer.
<br />
<br /> 3. TITLE; ENCUMBRANCES AND EASEMENTS: The Seller shall convey the
<br />property to the Buyer free and clear of all liens, encumbrances, claims,
<br />easements, and restrictions except the following:
<br />
<br />(a) Rights-of-way of roads, streets, alleyways, and pedestrian walkways;
<br />(b) Utility service easements and rights-of-way;
<br />(c) Applicable zoning, building, and other governmental rules and
<br /> regulations affecting the use of the property;
<br />(d) Cabarrus County and City of Concord ad valorem taxes and assessments
<br /> for the current year (Buyer to pay or assume);
<br />(e) Rights arising by agreement or otherwise, if any, in common or joint
<br /> walls and for lateral support.
<br />
<br /> 4. CLOSING AND OTHER EXPENSES; PRORATIONS:
<br /> (a) Seller shall pay for revenue stamps required by law and preparation
<br />of the deed.
<br /> (b) Buyer shall pay for recording fees for the deed, preparation and
<br />recording of all instruments or other charges in connection with any loan
<br />obtained by Buyer, title examination, and title insurance premiums, fees for a
<br />new, updated or recertified survey, all other charges in connection with the
<br />closing, if any.
<br /> (c) Rents, if any, for the property shall be prorated to the date of
<br />closing.
<br />
<br /> 5. ZONING; CONDITIONS; MISCELLANEOUS PROVISIONS:
<br /> (a) The property is presently zoned B-1 under the zoning ordinance of
<br />the City of Concord.
<br /> (b) The property must be in substantially the same condition at closing
<br />as on the date of this agreement, reasonable wear and tear excepted. Seller
<br />makes no warranties concerning the condition of the building or other improve-
<br />ments located upon the real property, and the Buyer is purchasing the property
<br />in "as is" condition.
<br /> (c) The risk of loss or damage by fire or other casualty from date to
<br />closing shall be upon the Seller.
<br />
<br /> 6. DEFAULT: Should Buyer breach this agreement, the binder or deposit
<br />shall be forfeited, but such forfeiture shall not affect any other remedies
<br />available to the Seller for such breach. Should Seller breach this agreement,
<br />the binder or deposit shall be returned to Buyer, and, in such event, neither
<br />party shall have any further rights or obligations pursuant to this agreement.
<br />
<br /> 7. ENTIRE AGREEMENT: This agreement constitutes the entire understand-
<br />ing and agreement of the parties. This agreement may not be modified except
<br />by agreement in writing signed by the parties hereto.
<br />
<br /> 8. ASSIGNMENT: This agreement shall not be assigned by Buyer without
<br />Seller's prior written consent, which consent will not be unreasonably with-
<br />held provided that this agreement shall be binding upon the Assignee and shall
<br />remain binding upon the Assignor unless expressly released in such written
<br />consent.
<br />
<br />
<br />
|