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parties, and no modification of this Agreements hall be binding unless in writing and signed by all parties. The invalidity of one or more provisions of this Agreement shall not affect the validity of any other provisions, and this Agreement shall be construed and enforced as if such invalid provisions were not included. Section 12. Enforceability: This Agreement shall become a contract when signed by both Buyer and Seller and such signing is communicated to both parties, it being expressly agreed that the notice described in Section 10 is not required for effective communication for the purposes of this Section 12. The parties acknowledge and agree that: (i) the initials lines at the bottom of each page of this Agreement are merely evidence of their having reviewed the terms of each page, and (ii) the complete execution of such initial lines shall not be a condition of the effectiveness of this Agreement. This Agreement shall be binding upon and insure to the benefit of the parties, their heirs, successors and assigns and their personal representatives. Section 13. Applicable Law: This Agreement shall be construed under the laws of the State of North Carolina. Section 14. Assignment: This Agreement may not be assigned by the Buyer, except to an affiliated entity, without the written consent of the Seller. Section 15. Tax -Deferred Exchange: In the event Buyer or Seller desires to effect a tax-deferred exchange in connection with the conveyance of the Property, Buyer and Seller agree to cooperate in effecting such exchange, provided 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. Seller and Buyer shall execute such additional documents at no cost to the non -exchanging party as shall be required to give effect to this provision. Such exchange shall not delay the closing. Section 16. Authority: Each signatory to this Agreement represents and warrants that he or she has full authority to sign this Agreement and such other instruments as may be necessary to effectuate any transaction contemplated by this Agreement on behalf of the parry for whom he or she signs and that his or her signature binds such party. Section 17. Attorneys Fees: If legal proceedings are instituted to enforce any provision of this Agreement, the prevailing party in the proceeding shall be entitled to recover from the non -prevailing party reasonable attorneys fees and court costs incurred in connection with the proceeding. BUYER: SELLER; Individual Cabarrus County By County Manager Page 5 of 6 Buyer lnitialsbt�_ Seller Initials_ AlUchmenl number 1 \n G-3 Page 141