Cash Sale Document

BUYER RESPONSIBILITIES

Unless otherwise specified in this Agreement, or in an addendum attached hereto, Buyer will pay for all due diligence matters including, but not limited to inspections, zoning, soil tests, surveys, use permits, ongoing hazard insurance, drain easements, rights of way, etc.

INSPECTION

Inspection is not required. Buyer does not desire an inspection and is accepting the Property “AS IS”.

TITLE INSURANCE

Title Insurance is not required. Buyer will determine by their own due diligence that the title to the Property is acceptable prior to closing. Buyer will not hold Seller liable for any title dispute that may arise in the future as a result of either the Seller’s or the Buyer’s negligence or lack of research on the title of the above mentioned Property.

TITLE AND CONVEYANCE

Once the invoice is fully paid, Seller will transfer title to the Property by Quit Claim Deed as appropriate to the Seller’s status, being free of all known liens and encumbrances of record based on information known to Seller as of the date of this Agreement. Buyer shall be responsible for reporting proceeds of the sale to taxing authorities, including the submittal of Form 1099-S with the Internal Revenue Service, if applicable.

IMPROVEMENTS AND APPURTENANCES

Any improvements and appurtenances affixed to the Property as of the date of closing are to be included in the Purchase Price. Exceptions will be noted in an Exhibit attached hereto and incorporated herein.

CLOSING COSTS

(a) Buyer will pay for all closing fees, document preparation fees, recording fees and title insurance (both lender's and owner's) for the transaction, including a document fee of $395.0.
(b) Seller will pay for transfer taxes.
(c) This transaction will be closed by a reputable notary public, title company or attorney, as determined by Seller.

SELLER’S DISCLOSURE

Seller shall provide Buyer with a Disclosure Statement at or prior to closing, in accordance with any applicable state laws or statutes requiring such disclosures to be made.

BINDING AGREEMENT

This Agreement is binding on the heirs, administrators, executors, successors, personal representatives and assigns of Buyer and Seller and supersedes all other agreements, written or oral, regarding the subject matter hereof.

RECORDING

This Agreement will not be recorded in the Office of the Recorder of Deeds or in any other office or place of public record. If Buyer causes or permits this Agreement to be recorded, Seller may elect to treat such act as a default of this Agreement.

ASSIGNMENT

This Agreement is binding upon the parties, their heirs, personal representatives, guardians and successors, and to the extent assignable, on the assigns of the parties hereto. Buyer will not transfer or assign this Agreement without the written consent of Seller unless otherwise stated in this Agreement. Assignment of this Agreement may result in additional transfer taxes.

GOVERNING LAW

Any claims or disputes by the Seller or Buyer arising out of this Agreement, but limited to any disagreements regarding any earnest money deposits or related to the condition of the Property covered by this Agreement, including any claims of fraud, misrepresentation, warranty and negligence, shall be settled in accordance with the laws and rules of North Carolina. Exclusive jurisdiction for any dispute shall be in Mecklenberg county. This is a mandatory venue selection clause.

RELEASE

Buyer releases, quit claims and forever discharges Seller and any of its officers or partners and any other person, firm or corporation who may be liable by or through them, from any and all claims, losses or demands, including, but not limited to, personal injury and property damage and all of the consequences thereof, whether known or not, which may arise from the presence of radon, environmental hazards, any defects in the individual on-lot sewage disposal system or deficiencies in the on-site water service system, or any defects or conditions on the Property. Should Seller be in default under the terms of this Agreement or in violation of any Seller disclosure law or regulation, this release does not deprive Buyer of any right to pursue any remedies that may be available under law or equity.

SELLER’S INDEMNIFICATION

Except as otherwise stated in this Agreement, after recording, the Buyer shall accept the Property AS IS, WHERE IS, with all defects, latent or otherwise. Neither Seller nor their licensed real estate agent(s) or any other agent(s) of the Seller,shall be bound to any representation or warranty of any kind relating in any way to the Property or its condition, quality or quantity, except as specifically set forth in this Agreement or any property disclosure, which contains representations of the Seller only, and which is based upon the best of the Seller’s personal knowledge.

DISPUTE RESOLUTION

Buyer and Seller agree to mediate any dispute or claim arising out of this Agreement, or in any resulting transaction,before resorting to arbitration or court action.

a)Mediation. If a dispute arises, between or among the Parties, and it is not resolved prior to or after recording, the Parties shall first proceed in good faith to submit the matter to mediation. Costs related to mediation shall be borne by the Buyer. Unless otherwise agreed in mediation, the Parties retain their rights to proceed to arbitration or litigation.

b)Arbitration. The Parties agree that any dispute or claim in law or equity arising between them out of this Agreement or any resulting transaction, which is not settled through mediation, shall be decided by neutral, binding arbitration.
The arbitrator is required to be a retired judge or justice, or an attorney with at least five (5) years of residential real estate law experience unless the Parties mutually agree to a different arbitrator. Under arbitration, the Parties shall have the right to discovery in accordance with State law. Judgment upon the award of the arbitrator(s) may be entered into any court having jurisdiction. Enforcement of this Agreement to arbitrate shall be governed by the Federal Arbitration Act.

c.)Exclusions. The following matters shall be excluded from the mediation and arbitration: (i) a judicial or non-judicial foreclosure or other action or proceeding to enforce a deed, mortgage or installment land sale contract as defined in accordance with State law; (ii) an unlawful detainer action, forcible entry detainer, eviction action, or equivalent; (iii) the filing or enforcement of a mechanic’s lien; and (iv) any matter that is within the jurisdiction of a probate, small claims or bankruptcy court. The filing of a court action to enable the recording of a notice of pending action, an order of attachment, receivership, injunction, or other provisional remedies, shall not constitute a waiver or violation of the mediation and arbitration provisions of this Section.

Waiver Statement

TITLE AND RECORDS SEARCH

Buyer recognizes that the Seller has not made, does not make, and specifically negates and disclaims any warranties, representations, commitments, or guarantees as to the title of the above-mentioned property. Buyer acknowledges that Seller is not providing a title commitment for the property. Furthermore, Buyer has been advised by Seller to obtain a title commitment from a title company. Buyer has determined by their own due diligence that the title to the above-mentioned property is clear of any liens, encumbrances, mortgages, or any other encroachment that would otherwise cause a title dispute in the future. Buyer will not hold Seller liable for any title dispute that may arise in the future as a result of either the Seller's or the Buyer's negligence or lack of research on the title of the above-mentioned
property.

SOIL ASSESSMENT

Buyer recognizes that Seller has provided adequate opportunity for Buyer to inspect the property and perform a soil assessment on the site to determine the suitability of the soil for percolation, septic systems, the availability of water and/or any other natural resources required for the Buyer's intended use of the property. Both parties acknowledge that Seller has not made any warranties, representations, commitments, or guarantees of any kind with respect to the suitability of the property for use with a septic system or drainage field, or with respect to the property's access to
water or any other natural resources required for the Buyer's intended use of the property.

SURVEY WAIVER

Buyer recognizes that Seller has provided adequate opportunity for Buyer to obtain a survey showing the exact dimensions of the property and the location of all improvements on it. Buyer has either conducted a study of the property or been given adequate opportunity to do so and has chosen not to obtain a survey. Buyer will take full responsibility for any risks associated with the property's boundaries and/or any other layout issues that a survey might disclose, including: the size and location of the parcel(s), the property boundary lines, the location of any and all building(s) and encroachment(s), dimensional errors, errors in legal descriptions and setback errors.

PROPERTY TAXES

Buyer recognizes that the payment of property taxes are Buyer's responsibility after the property has transferred to Buyer.

RELEASE OF LIABILITY

Buyer recognizes that Seller is not acting as a real estate agent or broker and that Buyer is not relying on Seller to represent Buyer's best interests with regard to this transaction. Seller has informed Buyer of all known risks associated
with purchasing this property and Buyer hereby releases and forever discharges Seller, their agents, employees, successors and assigns, from any and all claims, suits, charges, causes of action, judgments, requirements, accounts receivable, executions, attachments, liens, levies, debts, damages, bills or any controversies in law, equity, or any manner thereof, however it arises, and whether such claim is in the past, present or future. This Release shall constitute the full extent of the release between the parties and shall not be modified by any oral agreements. This Release shall also bind the Buyer's and Seller's present and future assigns, heirs, and successors. This statement was duly witnessed and shall constitute a full and legally binding release. This Release shall be subject to and governed by the laws of the North Carolina Exclusive jurisdiction for any dispute shall be the Mecklenberg County. This is a mandatory venue selection clause.

Disclosure Statement

This statement discloses Seller’s knowledge of the condition of the property as of the date signed by Seller and is not a substitute for any inspections or warranties that Buyer may wish to obtain. This statement is not a warranty of any kind by Seller or a warranty or representation by any listing real estate broker, any selling real estate broker, or their agents. Buyer is encouraged to address concerns about the conditions of the property that may not be included in this statement.

1. Seller’s Expertise
Seller does not possess expertise in contracting, engineering, architecture, or other areas related to the construction and conditions of the property and its improvements.

2. Zoning
(a) Is the property zoned for single family residential use?
Neither Confirm Nor Deny

3. Water
(a) Seller represents that the Property is served by:
Neither Confirm Nor Deny

4. Sewer
(a) Seller represents that the Property is served by:
Neither Confirm Nor Deny
If there is no currently existing community sewage system available for the subject property, no person shall install, construct, request bid proposals for construction, alter, repair, or occupy any building or structure for which an individual sewage system is to be installed without first obtaining a permit. Buyer should contact the local agency
charged with administering on-site sewage systems to determine the procedure and requirements for obtaining a permit for an individual sewage system. The local agency charged with issuing the permit will be the municipality or county where the property is located or that municipality or county working cooperatively with others.

5. Land

(a) Is Seller aware of any fill or expansive soil on the property?
Neither Confirm Nor Deny

(b) Is Seller aware of any sliding, settling, earth movement, upheaval, subsidence, or earth stability problems that have
occurred on or that affect the property?
Neither Confirm Nor Deny

(c) Is Seller aware of any existing or proposed mining, strip mining, or any other excavations that might affect this
property?
Neither Confirm Nor Deny

(d) To Seller's knowledge, is this property, or part of it, located in a flood zone or wetlands area?
Neither Confirm Nor Deny

(e) Does Seller know of any past or present drainage or flooding problems affecting the property or adjacent
properties?
Neither Confirm Nor Deny

(f) Does Seller know of any encroachments, boundary line disputes, or easements?
Neither Confirm Nor Deny
Note to Buyer: Most properties have easements running across them for utility services and other reasons. In many cases, the easements do not restrict the ordinary use of the property, and Seller may not be readily aware of them.
Buyers may wish to determine the existence of easements and restrictions by examining the property and ordering an abstract of title or searching the records in the Office of the Recorder of Deeds for the county before entering into an agreement of sale.

(g) Is Seller aware of any shared or common areas (for example, driveways, walls, etc) or maintenance agreements?
Neither Confirm Nor Deny

(h) Does Seller have an existing survey of the Property?
Neither Confirm Nor Deny

(i) Does the Property abut a public road?
Neither Confirm Nor Deny

If not, is there a recorded right-of-way and maintenance agreement to a public road?
Neither Confirm Nor Deny

6. Hazardous substances

(a) Is Seller aware of any underground tanks or hazardous substances present on the property (structure or soil)
including, but not limited to, asbestos, polychlorinated biphenyls (PCBs), radon, lead paint, etc)?
Neither Confirm Nor Deny

(b) To Seller's knowledge, has the property been tested for any hazardous substances?
Neither Confirm Nor Deny

(d) Is Seller aware of the presence of any lead-based paint hazards in the Property?
Neither Confirm Nor Deny

7. Homeowners Associations

(a) Is the property part of a homeowners association?
Neither Confirm Nor Deny

Seller is required to furnish Buyer with a copy of the declaration (other than plats and plans), the bylaws, and the rules and regulations for the association. The Buyer will have the option of canceling the Agreement with return of all deposit moneys until the documents have been provided to the Buyer and for five days thereafter or until conveyance, whichever occurs first.

8. Miscellaneous

(a) Is Seller aware of any existing or threatened legal action affecting the property?
Neither Confirm Nor Deny

(b) Does Seller know of any violations of Federal, State, or local laws or regulations relating to this property?
Neither Confirm Nor Deny

(c) Is Seller aware of any public improvement or homeowner association assessments against the property that remain
unpaid or of any violations of zoning, housing, building, safety, or fire ordinances that remain uncorrected?
Neither Confirm Nor Deny

(d) Is Seller aware of any judgment, encumbrance, lien, or other debt against this property that cannot be satisfied by
the proceeds of this sale?
Neither Confirm Nor Deny

(e) Is Seller aware of any material defects to the property, which are not disclosed elsewhere on this form?
Neither Confirm Nor Deny

(f) Is there any additional information that Seller feels should be disclosed to the prospective Buyer because it may
materially and substantially affect the value or desirability of the Property, e.g., zoning violations, zoning changes, road
changes, pending municipal improvements, pending tax assessment appeals, etc?
Neither Confirm Nor Deny

Buyer(s) represents that they have read, understand and agree to the terms in this document.