(c) Access to Property : Seller shall provide reasonable access to the Property through the earlier of Closing or possession by Buyer, including, but not limited to, allowing Buyer and/or Buyer’s agents or representatives, an opportunity to (i) conduct Due Diligence, (ii) verify the satisfactory completion of negotiated repairs/improvements, and (iii) conduct a final walk-through inspection of the Property . Seller’s obligation includes providing existing utilities operating at Seller’s cost, including any connections and de - winterizing.
NOTE: See WARNING in paragraph 4 above for limitation on Buyer’s right to terminate this Contract as a result of Buyer’s continued investigation of the Property following the expiration of the Due Diligence Period.
(d) Removal of Seller’s Property : Seller shall remove, by the date possession is made available to Buyer, all personal property which is not a part of the purchase and all garbage and debris from the Property.
(e) Affidavit and Indemnification Agreement : Seller shall furnish at Settlement an affidavit(s) and indemnification agreement(s) in form satisfactory to Buyer and Buyer’s title insurer, if any, executed by Seller and any person or entity who has performe d or furnished labor, services, materials or rental equipment to the Property within 120 days prior to the date of Settlement and who may be entitled to claim a lien against the Property as described in N.C.G.S. §44A-8 verifying that each such person or entity has been paid in full and agreeing to indemnify Buyer, Buyer’s lender(s) and Buyer’s title insurer against all loss from any cause or claim arising therefrom. (f) Designation of Lien Agent, Payment and Satisfaction of Liens : If required by N.C.G.S. §44A-11.1, Seller shall have designated a Lien Agent, and Seller shall deliver to Buyer as soon as reasonably possible a copy of the appointment of Lien Agent. All deeds of trust, deferred ad valorem taxes, liens and other charges against the Property, not assumed by Buyer, must be paid and satisfied by Seller prior to or at Settlement such that cancellation may be promptly obtained following Closing. Seller shall remain obligated to obtain any such cancellations following Closing. (g) Good Title, Legal Access : Seller shall execute and deliver a GENERAL WARRANTY DEED for the Property in recordable form no later than Settlement, which shall convey fee simple marketable and insurable title, without exception for mechanics’ liens, and free of any other liens, encumbrances or defects, including those which would be revealed by a current and accurate survey of the Property, except: ad valorem taxes for the current year (prorated through the date of Settlement); utility easements and unviolated covenants, conditions or restrictions that do not materially affect the value of the Property; and such other liens, encumbrances or defects as may be assumed or specifically approved by Buyer in writing. The Property must have legal access to a public right of way.
NOTE: Buyer’s failure to conduct a survey or examine title of the Property, prior to the expiration of the Due Diligence Period does not relieve the Seller of their obligation to deliver good title under this paragraph.
NOTE: If any sale of the Property may be a “short sale,” consideration should be given to attaching a Short Sale Addendum (Standard Form 2A14-T) as an addendum to this Contract.
(h) Deed, Taxes and Fees : Sel ler shall pay for preparation of a deed and all other documents necessary to perform Seller’s obligations under this Contract, and for state and county excise taxes, and any deferred, discounted or rollback taxes, and local conveyance fees required by law. The deed is to be made to: _______________________________________________________ ________________________________________________________________________________________________________ ________________________________________________________________________________________________________. (i) Agreement to Pay Buyer Expenses : Seller shall pay at Settlement $________________________ toward any of Buyer’s expenses associated with the purchase of the Property, at the discretion of Buyer and/or lender, if any, including any FHA/VA lender and inspection costs that Buyer is not permitted to pay.
NOTE: Parties should review the FHA/VA Addendum prior to entering an amount in Paragraph 8(i). Certain FHA/VA lender and inspection costs CANNOT be paid by Buyer at Settlement and the amount of these should be included in the blank above.
(j) Owners’ Association Fees/Charges : Seller shall pay any charges by an owners’ association or a management company/vendor as agent of the association under paragraph 9(a) of this Contract.
(k) Payment of Special Assessments : Seller shall pay, in full at Settlement, all Special Assessments that are approved prior to Settlement, whether payable in a lump sum or future installments, provided that the amount thereof can be reasonably determined or estimated. The payment of such estimated amount shall be the final payment between the Parties.
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STANDARD FORM 2-T Revised 7/2022 © 7/2022
Buyer ’s initials ______ ______ Seller ’s initials ______ ______
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