83-081_Banks, Gerald W._19840113 (3)

OFFER TO PURCHASE AND CONTRACT
......Gerald. W. Banks and.wi£e.,.. Helen. B...Banks..................................... . as Buyer, hereby agrees
to purchase and ..... ►Tobn.....Crawford and .wife.,.. Betty. W...Crawford .................................. as Seller,
hereby agrees to sell and convey, all of that plot, piece or parcel of land described below, together with all improvements located thereon and such per-
sonal property as is listed below (the real and personal property are collectively referred to as "the Property"), in accordance with the Standard Provisions
on the REVERSE SIDE HEREOF and upon the following terms and conditions:
1. REAL PROPERTY: Located in the City of... ......... Nagq..Head............................................... County of
, , , , , , , ,, , , , , , , , , , ,Dare, . , .... , .... ................ , ... , ... , State of North Carolina, being known as and more particularly
described as:
Street Address ... 7.1,14' Xontage..On, NGSR .1243,.. South .Nags..Head, . NC ................................. .
Legal Description .?e9t. it...of. d yes q� .Qf..laz�ds..of. .Dr...JoFhnn..Crawford. describers. as..an. Oceanf2
lot, betwen. B ghway SR .1243 . and. the. Atlantic .Ocean., . road. fronts e..71,14•'- • and
2. PERSONAL PROPERTY:.... VA ................. ..... ....................... 03xclge . prwemeats..thereon.
• 3. PURCHASE PRICE: The purchase price is;.. 52.,.500,.00. . ............... ................ and shall be paid as follows•
(a) $ 1, 000. 00 , in earnest money paid by .... per$cmal..Cheek................................................ .
(cash; bank, certified, or personal check) with the delivery of this contract, to be held in escrow by
The Yotmg_People as agent, until the sale is closed, at which time it will be
credited to Buyer, or until this agreement is otherwise terminated and it is disbursed in accordance with the Standard
Provisions on the REVERSE SIDE HEREOF.
(b) $ N.1A by assumption of the unpaid principal balance and all obligations of Seller on the existing loan secured by a deed of trust
on the Property:
e 32, 0 00
() S, by a promissory note secured by a purchasf _money deed of trust on th5 P.roperty with inter�j�t '�'�� fo default at the rate
Of 2 % per annum, payable by bo payments of 1722_�c:commcncing on [ u! �PFepaymrnt rights, if
any, shall be: alms reserve the right to repay balance owed at any—
time._Nithout penalty.
Assumption or transfer rights, if any, shall be: 8110Wed Only with sellers written
.. �PFroval .
(d) $ 1Q,000,,_QO the balance of the purchase price in cash at closing;
4. -CONDITIONS: (State N/A in each blank of paragraph 4 (a) and 4 (b) that is not a condition to this twgryget)
(a) The Buyer must be able to obtain a firm commitment effective through the date of closing for a ........... get)
.
loan in the principal amount of; ................ for a term of ................ year(s), at an interest rate not to exceed ................ % prior
to .......................................... Buyer agrees to use his best efforts to secure such commitment and to advise Seller immediately upon
his receipt of the lender's decision. Mortgage loan discount points not to exceed .................................... % of the loan shall be paid by
, .. , .... , , ..... , and loan closing cost shall be paid by .......................
(b) The Buyer must be able to assume Cite unpaid prin£ij�l balance of the existing loan described in paragraph S(b) above for the re-
mainder of the loan term, at an interest rate not to exceed , , , , .A.... % fixed or ............. ..... ..........................
If such assumption requires the lender's approval, approval must be granted prior to ................................. Buyer agrees to advise Seller
immediately upon his receipt of the lenders decision. In addition to any reasonable transfer fee (see STANDARD PROVISION No. 2). mortgage loan
assumption and/or discount points not to exceed $................................ shall be paid as follows:...:............................
...............................................................................................................................
(c) There must be no restrictions, easement, zoning or other governmental regulation that would prevent the reasonable use of the real property for ...
res dent al..csmstxus=ti.on. and. rental ...................................................... . ..... .. purposes.
5. ASSESSMENTS. Seller warrants that there are no encumbrances or special assessments, either pending or confirmed, for sidewalk, paving, water.
sewer or other improvements on or adjoining the Property, except as follows: .... NQPe................ ....... ................
...............................................................................................................................
(Insert "none" or the identification of any such assessments, if any; the agreement for payment or proration of any assessments indicated is to be set forth
in paragraph 6 below.)
6. OTHER PROVISIONS AND CONDITIONS:
(a) All of the Standard Provisions on the��VERSE SIDE HEREOF are understood and shall apply to this instrument, except the following numbered
Standard Provisions shall be deleted: ....: one • . • • . • • • .. • • . • ...... • .... • ... ........
(If none are to be deleted, state "None" in this blank) This offer subj eet to buyers being able to obtain a CAMS
Permit with required setback not further than 300' West of the Eastern most grass line anc
a septic permit for a five bedroom cottage without the addition of fill sand by the buyer
(If additional space is needed, the bottom of the reverse side of this page may be used)
7. CLOSING: All patties agree to execute any and all documents and papers necessary in connection with closing and transfer of title on or before ...
Deeember..lb s ... ..., at a place designated b the . sellers . closing. attorney...........
Deed is to be made to ..Gera ... , $apses acid Wd f O,.. Helm .13. ..Bau%s........................ .................. .
8. POSSESSION: Possession shall be delivered ... at.. cloy ing ....................................... in the event that Buyer has agreed
that possession is not delivered at closing, then Seller agrees to pay to Buyer the sum of ....... N/A ..................................... per day
to and including the date that possession is to be delivered as above sex forth.
9. CODA ERPAij :This Offer shall become a binding contract when signed by both Buyer and Seller and is executed in .....................
counterparts with an executed counterpart bang retained by caLFt party h
Dateo Off a 19 3 ..................... Date of Acceptance:...................... ... ...........
sin ereto.
... ... /...�.. . .... ,.�\
✓� .. W ................... (SEAL) ..:. ` G.....0........... . .... ..... (SEAL)
Bu selll r (O )
.. J ...... (SEAL) Y.... �. i . W.:. C%) ............. (SEAL)
Buyer Seller (Owne:r)
James. H,..F.or restIT-he . Young. People ............... jigws . F,. X.Qzxy1The..Young .P.eople...............
Agent/Firm A ent/Firm
I hereby acknowledge receipt of the earnest money herein set forth in
....... �..I.......`:"..%L�.!.'i 5.....................
Date
:corrda cc with the
/termsereof
14g t/Firm
By: ,
REALTOR
This Standard Form
approved
has been approved 'THE NORTH CAROLINA BAR ASSOCIATION Standard Form No. 5
jointly by: THE NORTH CAROLINA ASSOCIATION OF REALTORS©, INC. Revised 3182

TOWN OF NAGS HEAD
NAGS HEAD, NORTH CAROLINA 27959
CAMA PERMIT NOTICE
Pursuant to NCGS 113A-119(b), the Town of Nags Head, a locality
authorized to issue CAMA permits in areas of environmental concern,
hereby gives NOTICE that on December 16, 1983, Gerald W..Banks, the
applicant, proposed to erect a single family dwelling at lot 1,
John C. Crawford Tract, south Nags Head in an ocean hazard and high
hazard flood AEC.
Persons desiring to inspect the application, to comment thereon or
to appeal the local decision are directed to contact the local permit
officer at the address below.
M. Edward Harrell
Receiving Minor Development
Permits under CAMA
Address: P. 0. Box 99
Nags Head, N. C. 27959
Telephone: [phone]
For publication in The Coastland Times, December 20, 1983
Please use legal print and Nags Head logo.

„ Loca Government
83-081
Permit Number
CAMA
MINOR DEVELOPMENT
PERMIT.-,�
as authorized by the State of North Carolina, Department of Natural Resources
and Community Development and the Coastal Resources Commission for develop-
ment in an area of environmental concern pursuant to Section 113A-118 of the
General Statutes, "Coastal Area Management.”
Issued to Gerald W. Banks
authorizing development in an ocean hazard/high hazard .flood AErt lot 1, John C. Crawford Tract,
south Nags Head as requested in the permittee's application dated December 16, 1983
This permit, issued on January 13, 1984 , is subject to compliance with the application and site drawing
(where consistent with the permit), all applicable regulations and special conditions and notes set forth below. Any violation of these
terms may subject permittee to a fine, imprisonment or civil action; or may cause the permit to be null and void.
This permit action may be appealed by the permittee or
other qualified persons within twenty (20) days of the issuing
date. From the date of an appeal, any work conducted under this
permit must cease until the appeal is resolved.
This permit must be on the project site and accessible to the
permit officer when the project is inspected for compliance.
Any maintenance work or project modifications not covered
under this permit require further written permit approval.
All work must cease when this permit expires on
In issuing this permit it is agreed that this project is consis-
tent with the local Land Use Plan and all applicable ordinances.
This permit may not be transferred to another party without
the written approval of the Office of Coastal Management.
Local Permit Officer (signature)
M. Edward Harrell
name
Town of Nags Head
P. 0. Box 99.
Nags Head, N. C. 27959 address
Permitee (signature required if special conditions above apply to permit)