49295D - Braswell

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'CAMA/ ❑DREDGE & FILL
IENERAL PERMIT Previous permit#
New iModification Complete Reissue ❑Partial Reissue Date previous permit issued
"zed by the State of North Carolina, Department of Environment and Natural Resources
;oastal Resources Commission in an area of environmental concern pursuant to I 5A NCAC
'Rules attached.
t Name t)1f tt1'ZZ '`l( ET/ ' /<NJ i-v&-t. - Project Location: County y t c-/VJ bCJ i G lc.
2 00(o W. �//' 117 . Street Address/State Road/ Lot#(s)
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ed Agent p itiV -1 l')1°S L-1 j -fit-t l Er) YYI tie, E City SOt/T7 jpor1 r ZIP Lcti&
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2864
ALLIED MARINE CONTRACTORS, LLC 08-03
910-367-2159 1
92 HAROLD CT. 66-19/530 NC
HAMPSTEAD,NC 28443 DATE g/7/7 702 I
DAY
7O THE Alq)i'"bi - / I $ c
ORDER OF
p _ t
`"(/"" DOLLARS "
Bank of America
ACH R(T 053000196 %,-/- i
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u'00 286411' 1:053000 L961: 000684 ?4 373811

ATA
NCDENR
North Carolina Department of Environment and Natural Resources
Division of Coastal Management
;hael F. Easley, Governor James H.Gregson, Director William G. Ross Jr., Si
Authorized Agent Consen Agreement
/&)/ 744)ey
is hereby authorized to act on my beh
(Printed Name of Agent)
der to obtain any CAMA permit(s) required for the property listed below. The authorization is limited to
:ific activities described in the attached sketch.
ATION OF PROJECT:
8,15i446 Lfr
501/tr /-4- /11
ig,(4,15,v;rk
PERTY OWNER MAILING ADDRESS:
Q2(, 11fyl/
isl 1. /i/6- aiy4
PHONE NO. 71O ( ?NI
-JORIZED AGENT MAILING ADDRESS:
3.? )-16(4)
Hain ✓tie— cQvyc S
PHONE NO. c3ol o)J
yam 3 )
iture of Property Owner: '2IL' A (

t
' - OFFER TO PURCHA AND CONTRACT- VACANT LOT/I. D •
Chis contract is intended for unimproved real property that Buyer will purchase only for personal use and will not subdivide
it be used to sell subdivided property that has not been platted,properly approved and recorded with the register of deeds a.
of the contract. If Seller is Buyer's builder and the sale involves the construction of a new single family dwelling prior
Ise the standard Offer to Purchase and Contract(Form 2-T)with the New Construction Addendum(Form 2A3-T).
Michael K. Braswell, Laura B. Braswell ,asBuw
fe rs to purchase and Terry Vereen, Devote McMahan as Sel
eptance of said offer,agrees to sell and convey,all of that plot,piece or parcel of land described below(hereafter referred to
;erty"),upon the following terms and conditions:
L PROPERTY: Located in the City of Southport
A. Brunswick , State of North Carolina,being known as and more particularly described
;dress 3000 Bonner Bussells Zip 28461
on Name Marsh Creek
rence:Lot 65 ,Block or Section 9-2C, Marsh Creak as shown
c or Slide U at Page(s) 327 (Property acquired by Seller in Deed Book 1939 at Page 835
A portion of the property in Deed Reference:Book 1939 Page No. 835 Brunswick Cow
prior to signing this Offer to Purchase and Contract - Vacant Lot/Land,Buyer is advised to review Restrictive Covenants
;h may limit the use of the Property,and to read the Declaration of Restrictive Covenants,By-Laws,Articles of Incorporati;
l Regulations, and other governing documents of the owners'association aucSor the subdivision, if a! . i ' e._4, 71
RASE PRICE:The purchase price is$ 33,rLrBAs aOS 30ttO� pd—t a' °) mom, 1 /&i; ,,1 a p'Fp�r as folio%
100.00 , EARNEST MONEY DEPOSIT frith this offer by Q cash li personal check ❑ bank the
rtified check ❑ other: to be deposited and held in escrow
Margaret Rudd and Associates ("Escrow Agent");until the sale is closed,at which time it will be credited
, or until this contract is otherwise terminated. In the event: (1)this offer is not accepted; or(2)any of the conditions here
it satisfied, then all earnest monies shall be refunded to Buyer. In the event of breach of this contract by Seller, all earn
s shall be refunded to Buyer upon Buyer's request, but such return shall not affect any other remedies available to Buyer I
►each. In the event of breach of this contract by. Buyer, then all earnest monies shall be forfeited to Seller upon Selle
t,but such forfeiture shall not affect any other remedies available to Seller for such breach.
In the event of a dispute between Seller and Buyer over the return or forfeiture of earnest money held in escrow by
;the broker is required by state law to retain said earnest money in the broker's trust or escrow account until a written relea
he parties consenting to its disposition has been obtained or until disbursement is ordered by a court of compete
otion.
• , ADDITIONAL EARNEST MONEY DEPOSIT to be paid to Escrow Agent no later th
,TIME BEING OF THE ESSENCE WITH REGARD TO SAID DATE.
, OPTION FEE in accordance with paragraph 11, Alternative 2, to be paid to Seller on tl
ve Date as set forth in paragraph 19. (NOTE: If Alternative 2 applies,then do not insert$0,N/A,or leave blank).
, BY ASSUMPTION of the unpaid principal balance and all obligations of Seller on the existir
secured bye�i ,t���tioe�'���haccordance with the attached Loan Assumption Addendum.
?�4.aYl III18 `OI���'07 , y SE R ANCING in accordance with the attached Seller Financing Addendum.
Icon.„,„ .A- 0 ,BALANCE of the purchase price in cash at Closing.
ITIONS: (State N/A in each blank that is not a condition to this contract.)
nust be able to obtain a❑ Conventional ❑ Other: n/a loan at
ed Rate ❑ Adjustable Rate in the principal amount of n/a for a term of n/a year(s),at a
nterest rate not to exceed n/a %per annum,with mortgage loan discount points not to exceed n/a %of th
count.Buyer shall apply for said loan within n/a days of the Effective Date of this cnntrnet R.,chatl

must be no restriction, easement, zoning or other governmental regulation that would prevent the reasonable use of tl
ty for single family residential purposes("Intended Use'
operty must be in substantially the same or better condition at Closing as on the date of this offer, reasonable wear and to
ds of trust,liens and other charges against the Property,not assumed by Buyer,must be paid and satisfied by Seller prior
losing such that cancellation may be promptly obtained following Closing. Seller shall remain obligated to obtain any suc
ations following Closing.
lust be delivered at Closing by GENERAL WARRANTY DEED unless otherwise stated herein, and must be fee situp
able and insurable title,free of all encumbrances except: ad valorem taxes for the current year(prorated through the date t
;); utility easements and unviolated restrictive covenants that do not materially affect the value of the Property; and sue
['cumbrances as may be assumed or specifically approved by Buyer. The Property must have legal access to a public right
AL ASSESSMENTS: Seller warrants that there are no pending or confirmed governmental special assessments ft
Having, water, sewer, or other improvements on or adjoining the Property, and no pending or confirmed owners' associatio
:ssments,except as follows:none
one" or the identification of such assessments, if any.) Seller shall pay all owners' association assessments and a
tal assessments confirmed through the time of Closing,if any,and Buyer shall take title subject to all pending assessment:
ss otherwise agreed as follows:no other agreement
kTIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated and either adjuste
parties or paid at Closing: (a)Ad valorem taxes on real property shall be prorated on a calendar year basis through the dat
(b)All late listing penalties,if any,shall be paid by Seller;(c)Rents,if any,for the Property shall be prorated through th
sing; (d) Owners' association dues and other like charges shall be prorated through the date of Closing. Seller represent
ular owners'association dues,if any,are$n/a per n/a
1SES: Unless otherwise agreed, Buyer shall be responsible for all costs with respect to any loan obtained by Buyer, title
insurance, recording the deed and for preparation and recording of all instruments required to secure the balance of th
ice unpaid at Closing. Seller shall pay for preparation of a deed and all other documents necessary to perform Seller':
under this agreement,and for excise tax(revenue stamps)required by law. Seller shall pay at Closing$ n/a
of Buyer's expenses associated with the purchase of the Property, including any FHAIVA lender and inspection costs tha
t permitted to pay,but excluding any portion disapproved by Buyer's lender.
NCE OF TITLE: Seller agrees to use his best efforts to deliver to Buyer as soon as reasonably possible after the Effective
contract, copies of all title information in possession of or available to Seller, including but not limited to: title insurance
nmey's opinions on title, surveys, covenants,deeds,notes and deeds of trust and easements relating to the Property. Seller
;1) any attorney presently or previously representing Seller to release and disclose any title insurance policy in such
le to Buyer and both Buyer's and Seller's agents and attorneys;and(2)the Property's title insurer or its agent to release and
materials in the Property's title insurer's(or title insurer's agent's)file to Buyer and both Buyer's and Seller's agents and
AND MATERIAL: Seller shall furnish at Closing an affidavit and indemnification agreement in form satisfactory to
ing that all labor and materials,if any,furnished to the Property within 120 days prior to the date of Closing have been paid
eing to indemnify Buyer against all loss from any cause or claim arising therefrom.
EG: Closing shall be defined as the date and time of recording of the deed. All parties agree to execute any and all
nd papers necessary in connection with Closing and transfer of title on or before April 30, 2007
signated by Buyer. The deed is to be made to lticlwl B. Braswell and wife Laura B. Braswell
SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION UNLESS
N IS OTHERWISE MADE IN WRITING.
SION: Unless otherwise provided herein, possession shall be delivered at Closing. No alterations, excavations, tree
ther such activities may be done before possession is delivered.

ERTY INSPECTION,APPRAISAL,I1\ iTIGATION(Choose ONLY ONE of the f. ping Alternatives):
RNATIVE 1:
ater,Uttilties And Environmental Contingency: This contract is contingent upon Buyer obtaining report(s)that (i)tl
table for Buyer's Intended Use, (ii) utilities and water are available to the Property, (iii) there is no environment
lion, law, rule or regulation that prohibits, restricts or limits Buyer's Intended Use, and (iv)there is no flood hazard th;
estricts or limits Buyer's Intended Use(collectively the"Reports"). All costs and expenses of obtaining the Reports shall t
3uyer. Buyer shall use Buyer's best efforts to obtain such Reports. If the Reports cannot be obtained, Buyer may termina
et and the Earnest Money Deposit shall be refunded to Buyer. Buyer waives this condition unless Buyer provides writte
eller by _ April 16, 2007 that this condition cannot be satisfied,time being of the essenci
System(check only ONE):
ias investigated the costs and expenses to install the sewer system approved by the Improvement Permit attached hereto a
ind hereby approves and accepts said Improvement Permit.
epresents that the system has been installed,which representation survives Closing,but makes no further representations a
:m. Buyer acknowledges receipt of the Improvement Permit attached hereto as Exhibit A. Buyer shall have the option e
or obtaining,at Buyer's expense, inspection(s)to determine the condition of the system. If the system is not performing th
r which intended and is in need of immediate repair,Buyer may terminate this Contract and the Earnest Money Deposit shal
1 to Buyer.Buyer waives this condition unless Buyer provides written notice to Seller by
edition cannot be satisfied,time being of the essence.
etract is contingent upon ❑ Buyer❑ Seller("Responsible Party")obtaining an Improvement Permit or written evaluatio]
)unty Health Department("County")for a(check only ONE) conventional or Q other
arption sewage system for a bedroom home.All costs and expenses of obtaining such Permit or written evaluation
ne by Responsible Party unless otherwise agreed. In any event Seller,by no later than
ponsible for clearing that portion of the Property required by the County to perform its tests and/or inspections. Responsibly
use best efforts to obtain such Permit or written evaluation. If the Improvement Permit or written evaluation from tht
not be obtained by (date),either party may terminate this Contract and the Earnest Mone}
11 be refunded to Buyer.
as investigated and approved the availability,costs and expenses to connect to a ❑public or Fa community sewer system
Isal Contingency: The Property must appraise at a value equal to or exceeding the purchase price or,at the option of Buyer
may be terminated and all earnest mollies shall be refunded to Buyer. If this contract is not subject to a financing
requiring an appraisal,Buyer shall arrange to have the appraisal completed on or before llpri1 16, 2007
the appraisal shall be borne by Buyer.
LNG SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION
ROVISION IS OTHERWISE MADE IN WRITING.
NATIVE 2: (This Alternative applies ONLY ifAlternative 2 is checked AND Buyer has paid the Option Fee.)
ty Investigation with Option to Terminate: In consideration of the sum set forth in paragraph 2(c) paid by Buyer to
Escrow Agent) and other valuable consideration, the sufficiency of which is hereby acknowledged (the "Option Fee"),
have the right to terminate this contract for any reason or no reason, whether related to the physical condition of the
otherwise, by delivering to Seller written notice of termination (the "Termination Notice") by 5:00 p.m. on
,time being of the essence(the"Option Termination Date").At any time prior to Closing,
have the right to inspect the Property at Buyer's expense (Buyer is advised to have all inspections and appraisals of the
:luding but not limited to those matters set forth in Alternative 1,performed prior to the Option Termination Date).
e of Option: If Buyer delivers the Termination Notice prior to the Option Termination Date,time being of the essence,this
11 become null and void and all earnest monies received in connection herewith shall be refunded to Buyer; however, the
will not be refunded and shall be retained by Seller. If Buyer fails to deliver the Termination Notice to Seller prior to the
dilation-Date, then Buyer will be deemed to have accepted the Property in its physical condition existing as of the Option
Date;provided such acceptance shall not constitute a waiver of any rights Buyer has under paragraph 3. The Option Fee is
le,is not a part of any earnest monies,and will be credited to the purchase price at Closing.
vG SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION
tOVISION IS OTHERWISE MADE IN wnrrnvr_

T OF ENTRY, RESTORATION AND JEMNITY: Buyer and Buyer's agents and . factors shall have the right
the Property for the purpose of appraising the Property, and performing the tests and inspections permitted in this contras
arminates this contract as provided herein,Buyer shall, at Buyer's expense, restore the Property to substantially its pre-ent
within thirty days of contract termination. Buyer will indemnify and hold Seller harmless from all loss,damage,claims,sui
vhich shall arise out of any contract, agreement,or injury to any person or property as a result of any activities of Buyer a
gents and contractors relating to the Property. This indemnity shall survive this contract and any termination here
%nding the foregoing,Seller shall be responsible for any loss,damage,claim,suit or cost arising out of pre-existing conditio
eerty and/or out of Seller's negligence or willful acts or omissions.
;R PROVISIONS AND CONIDITIONS: (ITEMIZE ALL ADDENDA TO THIS CONTRACT AND ATTACH HERETC
ached ADDENDUM A, See attached "Additional Provisions Addendum" Item #4.
OF LOSS:The risk of loss or damage by fire or other casualty prior to Closing shall be upon Seller.
',NMENTS: This contract may not be assigned without the written consent of all parties,but if assigned by agreement,du
ct shall be binding on the assignee and his heirs and successors.
IES: This contract shall be binding upon and shall inure to the benefit of the parties, i.e., Buyer and Seller and their heir
and assigns. As used herein, words in the singular include the plural and the masculine includes the feminine and neut
r appropriate.
IVAL: If any provision herein contained which by its nature and effect is required to be observed, kept or performed afti
g, it shall survive the Closing and remain binding upon and for the benefit of the parties hereto until fully observed,kept
tE AGREEMENT: This contract contains the entire agreement of the parties and there are no representations,inducement
ovisions other than those expressed herein. All changes, additions or deletions hereto must be in writing and signed by a
:thing contained herein shall alter any agreement between a REAL TOR®or broker and Seller or Buyer as contained in an
:ement,buyer agency agreement,or any other agency agreement between them.
:E AND EXECUTION: Any notice or communication to be given to a party herein may be given to the party or to sue
at. This offer shall become a binding contract(the"Effective Date")when signed by both Buyer and Seller and such signin
icated to the offering party. This contract is executed under seal in signed multiple originals,all of which together constitut
e same instrument, with a signed original being retained by each party and each REALTOR® or broker hereto, and th
pt the word"SEAL" beside their signatures below.
nowledgea having made an on-site personal examination of the Property prior to the making of this offer.
TH CAROLINA ASSOCIATION OF REALTORS®, INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAK]
SENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN AN1
TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FFPT THAT IT DOES NOT PROVIDE FOI
JAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIG?
:nary 26, 2007 Date:
(SEAL) Seller �� (SEAL
heel X. Braswell Terry
uary 26, 2007 Date:
'� ► C� twit (SEAL) Seller -�� (SEAL;
ra B. Braswell Devote McMahan
ent acknowledges receipt of the earnest money and agrees to hold and disburse the same in accordance with the
it'.
cq( Firm:Iitrgaret Rudd and Associates
��. . ,d�

•
ADDII_ AAL PROVISIONS ADDENDUM
Lddress: 3000 Bonner Bussells, Southport, NC 28461
11 of the following provisions which are marked with an "X" shall apply to the attached Offer to Purchase and Contract
irchase and Contract—Vacant LotiLand("Contract"). Those provisions marked"N/A" shall not apply.
_ EXPIRATION OF OFFER: This offer shall expire unless acceptance is delivered to Buyer or to
, on or before ❑ AM ❑ PIS
on , or until withdrawn by Buyer,whichever occurs first.
INTEREST BEARING TRUST ACCOUNT: Any earnest monies deposited by Buyer may be placed in tt
interest bearing trust account of the Escrow Agent named in the Contract. Any interest earned thereon sha
belong to the Escrow Agent in consideration of the expenses incurred by maintaining such account and retort
associated therewith.
(To be used with Alternative 1 only) SEWER SYSTEM: This Contract is contingent upon ❑ Buyer ❑ Sell
("Responsible Party") obtaining an Improvement Permit or written evaluation from the County Health Departmer
("County")for a(check only ONE)❑ conventional or ❑other
ground absorption sewage system for a bedroom home.All costs and expenses of obtaining such Permit(
written evaluation shall be borne by Responsible Party unless otherwise agreed. In any event Seller, by no later tha
,shall be responsible for clearing that portion of the Propert
required by the County to perform its tests and/or inspections. Responsible Party shall use best efforts to obtain sue
Permit or written evaluation. If the Improvement Permit or written evaluation from the County cannot be obtained b
(date),either party may terminate this Contract and the Earnest Money Deposit shall b
refunded to Buyer.
_ FLOOD HAZARD ZONE: Buyer has been advised that the Property is located in an area which the Secretary o
HUD has found to have special flood hazards and that it may be necessary to purchase flood insurance in order t
obtain any loan secured by the Property from any federally regulated institution or a loan insured or guaranteed by a]
agency of the U.S. Government.
_ CLOSING OF EXISTING CONTRACT CONTINGENCY: This Contract is contingent upon closing of an existing
contract on Buyer's real property located at:
on or before .If this contingency is not removed on or before midnight of
Seller may terminate this Contract and all earnest monies shall be returned to Buyer.
RENTAL/INCOME/INVESTMENT PROPERTY: The Property is subject to existing leases and/or rights of tenant:
in possession under month-to-month tenancies. Seller agrees to deliver to Buyer on or before
true and complete copies of all existing leases,rental agreements, outstanding tenant notices, written statements of al
oral tenant agreements, statement of all tenant's deposits, uncured defaults by Seller or tenants, and claims made by 01
to tenants,if any. This Contract is contingent upon Buyer's approval of said documents. Buyer shall be deemed to have
approved said documents unless written notice to the contrary is delivered to Seller or Seller's agent within seven (7'
days of receipt of same. If Buyer does not approve said documents and delivers written notice of rejection within th
seven day period,this Contract shall be terminated and all earnest monies shall be returned to Buyer. NOTE: DO NO'
USE THIS PROVISION FOR PROPERTY SUBJECT TO THE NORTH CAROLINA VACATION RENTAL ACT.
VACATION RENTAL ADDENDUM SHOULD BE USED IN SUCH CASES.

REMOVAL OF PERSONAL PRE ..ERTY AND DEBRIS: Seller shall i-move, ._ -the date possession is mac
available to the Buyer, all personal property which is not a part of the purchase and ail garbage and debris from ti
Property.
TAX-DEFERRED EXCHANGE: In the event Buyer or Seller desires to effect a tax-deferred exchange in connectio
with the conveyance of the Property, Buyer and Seller agree to cooperate in effecting such exchange; provide(
however, that the exchanging party shall be responsible for all additional costs associated with such exchange, an
provided further,that a non-exchanging party shall not assume any additional liability with respect to such tax-deferre
exchange. Seller and Buyer shall execute such additional documents,at no cost to the non-exchanging party,as shall b
required to give effect to this provision. (NOTE: If Alternative 2 under paragraph 13 of this Contract will apply, Selle
should seek advice concerning the taxation of the Option Fee.)
_ BUYER'S RESPONSE TIME PROVISION(To be used in lieu of paragraph 13(a)of Alternative 1.)
(a) Property Inspection: Unless otherwise stated herein, Buyer shall have the option of inspecting, or obtaining e
Buyer's expense inspections, to determine the condition of the Property. Unless otherwise stated herein, it is
condition of this contract that: (i) the built-in appliances, electrical system, plumbing system, heating and cooling
systems, roof coverings (including flashing and gutters), doors and windows, exterior surfaces, structural component
(including foundations, columns, chimneys,floors,walls,ceilings and roofs),porches and decks,fireplaces and flues
crawl space and attic ventilation systems(if any),water and sewer systems(public and private), shall be performing tin
function for which intended and shall not be in need of immediate repair, (ii) there shall be no unusual drainag(
conditions or evidence of excessive moisture adversely affecting the structure(s); and (iii) there shall be no friable
asbestos or existing environmental contamination. Any inspections shall be completed and written notice of necessar}
repairs shall be given to Seller on or before (the "Inspection Date"). Seller shall provide written
notice to Buyer of Seller's response within days of Buyer's notice. The Buyer shall deliver to Seller within
five(5)days after receiving the Seller's written response the Buyer's written decision either(a) accepting the Property
in its present condition, (b) accepting Seller's offer to make repairs to the extent and as described in the Seller';
response, or(c)terminating this contract,time being of the essence. Failure of Buyer to provide this written decision
by the time stated herein shall constitute acceptance of Seller's agreement to make repairs to the extent and as described
in the Seller's response.
Buyer is advised to have any inspections made prior to incurring expenses for Closing and in sufficient time to permit
any required repairs to be completed by Closing.
PENT OF A CONFLICT BETWEEN THIS ADDENDUM AND THE OFFER TO PURCHASE AND CONTRACT OR
t TO PURCHASE AND CONTRACT-VACANT LOT/LAND,THIS ADDENDUM SHALL CONTROL.
H CAROLINA ASSOCIATION OF REALTORS®,INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKE
SENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY
TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE FOR
'AL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN
L -� (SEAL) Date: 02/26/2007
Lael K. /Braaw.11
�`2` 2, "C'(vkitdfi (SEAL) Date: 02/26/2007
B. wat11
ZA17 � (SEAL) Date: 7 d
y Varemn A I _
`__ /7, `M7)//, / /J / .

ADDENDUM "A"
OFFER TO PURCHASE AND CONTRACT
BETWEEN
BUYERS: MICHAEL K. BRASWELL AND LAURA B. BRASWELL AND
SELLERS: TERRY VEREEN AND DAVOTA MCMEHAN
['he provisions contained herein are a part of the Offer to Purchase and Contract attached hereto.
. This offer shall expire unless acceptance is delivered to Buyer on or before 6:00 p.m. on
February 27, 2007.
. This offer is contingent upon Buyer receiving assurances (adequate in Buyer's sole discretion)
that the Property is suitable for construction of a residence and a swimming pool that are
acceptable to Buyer.
. This offer is contingent upon Buyer obtaining any and all permits from all applicable regulatory
agencies, including, but not limited to, CAMA, the Army Corps of Engineers, and the City of
Southport, for construction of a pier (at least six feet wide) boat lift, and floating dock
appurtenant to the Property and in a location acceptable to Buyer, in Buyer's sole discretion
This offer is contingent upon Buyer receiving assurances (adequate in Buyer's sole discretion)
that the Property is not the habjtat of any endangered species subjecting the Property to
additional regulations or requirements.
JRCHASER: SELLER:
ichael K. Braswell
Terry Vereen
ura B. Braswell Davota McMehan

AMENDMENT TO
OFFER TO PURCHASE AND CONTRACT
BETWEEN
BUYERS: MICHAEL K BRASWELL AND LAURA B. BRASWELL AND
SELLERS: TERRY VEREEN AND DAVOTA MCMEHAN
Buyer has used his best efforts to obtain a permeit from the Coastal Area Management Commission
(CAMA) to construct a pier as set forth in Addendum A to the Offer to Purchase and Contract, but
CAMA has failed to issue said permit as of this date. Therefore:
The date set out in Paragraph 11, Alternative 1, Section(a) is hereby extended from April 16, 2007
through May_7, 2995 and the Closing date set out in Paragraph 9 is hereby extended through May 9,
2,449F. rnal z.l zoO7
r1 3 Zoo
m 33 yC/1 '
07,
w7t 466
113/ JiC 3a
l
PURCHASER: 7v S 3707
SELLER:
6-64162e-e-rel M477 dt,i%t
Michael K. Braswell
Terry Ve een
GIBA.,,,dd& dinaa----/
Laura B. Braswell Davota McMehan

AMENDMENT TO
OFFER TO PURCHASE AND CONTRACT
BETWEEN
BUYERS: MICHAEL K. BRASWELL AND LAURA B. BRASWELL
SELLERS; TERRY VEREEN AND DEVOTA MCMEHAN
Buyer has used his best efforts to obtain a permit from the Coastal Area Management
Commission (CAMA)to construct a pier as set forth in Addendum A to the Offer to Purchase
and Contract, but CAMA has failed to issue said permit as of this date. Therefore:
The date set out in Paragraph 11, Alternative 1, Section(a) is hereby extended from May 21,
2007 through June 20, 2007, and the Closing date set out in Paragraph 9 is hereby extended
Through June 25, 2007.
PURCHASER: SELLER:
4///11
Michael K. Braswell Terry Ve 7
60[Lg, PflaakA aelda.,) Tk14\Att?
Laura B. Braswell DeVota McMehan

AMENDMENT TO
OFFER TO PURCHASE AND CONTRACT
BETWEEN
BUYERS: MICHAEL K. BRASWELL AND LAURA B. BRASWELL
SELLERS; TERRY VEREEN AND DEVOTA MCMEHAN
Buyer has used his best efforts to obtain a permit from the Coastal Area.Management
Commission(CAMA)to construct a pier as set forth in Addendum A to the Offer to Purchase
and Contract, but CAMA has failed to issue said permit as of this date. Therefore:
The date set out in Paragraph 11, Alternative 1, Section(a) is hereby extended from June 20,
2007 through July 20, 2007, and the Closing date set out in Paragraph 9 is hereby extended
Through July 25, 2007.
PURCHASER: SELLER:
•atte.42,( 4k./(1/A
Michael K. Braswell Terry Vereen
•
Laura B. Braswell DeVota McMehan

AMENDMENT TO
OFFER TO PURCHASE AND CONTRACT
BETWEEN
BUYERS: MICHAEL K. BRASWELL AND LAURA B. BRASWELL
SELLERS; TERRY VEREEN AND DEVOTA MCMEHAN
Buyer has used his best efforts to obtain a permit from the Coastal Area Management
Commission (CAMA)to construct a pier as set forth in Addendum A to the Offer to Purchase
and Contract, but CAMA has failed to issue said permit as of this date. Therefore:
The date set out in Paragraph 11, Alternative 1, Section(a) is hereby extended from July 20,
2007 through August 20, 2007, and the Closing date set out in Paragraph 9 is hereby extended
Through August 25, 2007.
PURCHASER: SELLER:
Michael K. Braswell Terry Vereen
06-Iti\d- _ 6loiautO 4cidt7n
Laura B. Braswell DeVota McMehan

AMENDMENT TO
OFFER TO PURCHASE AND CONTRACT
BETWEEN
BUYERS: MICHAEL K. BRASWELL AND LAURA B. BRASWELL
SELLERS; TERRY VEREEN AND DEVOTA MCMEHAN
Buyer has used his best efforts to obtain a permit from the Coastal Area Management
Commission(CAMA)to construct a pier as set forth in Addendum A to the Offer to Purchase
and Contract, but CAMA has failed to issue said permit as of this date. Therefore:
The date set out in Paragraph 11, Alternative 1, Section(a) is hereby extended from August 20,
2007 through October 20, 2007, and the Closing date set out in Paragraph 9 is hereby extended
Through October 25, 2007.
PURCHASER: SELLER:
/1,/
Michael K. Braswell Terryeen
1)644m,e_
Laura B. Braswell
DeVota McMehan

AMENDMENT TO
OFFER TO PURCHASE AND CONTRACT
BETWEEN
BUYERS: MICHAEL K. BRASWELL AND LAURA B. BRASWELL
SELLERS; TERRY VEREEN AND DEVOTA MCMEHAN
Buyer has used his best efforts to obtain a permit from the Coastal Area Management
Commission(CAMA) to construct a pier as set forth in Addendum A to the Offer to Purchase
and Contract, but CAMA has failed to issue said permit as of this date. Therefore:
The date set out in Paragraph 11, Alternative 1, Section(a) is hereby extended from August 20,
2007 through October 20, 2007, and the Closing date set out in Paragraph 9 is hereby extended
Through October 25, 2007.
PURCHASER: SELLER:
Michael K. Braswell Terry Vereen
Amu
Laura B. Braswell DeVota McMehan

Mr. George Roundtree
P.O. Box 1409
Wilmington, N.0 28402-1409
August 11, 2007
Dear Mr. Roundtree,
My name is Michael K. Braswell. I am currently purchasing the property in Smithville
Woods (Lot 65, Section 2C, Marsh Creek) for which you, as receiver for Cape Fear
Trading Group IV, LLC, (sole owner of the Smithville Development Corporation)
recently issued a Quit Claim Deed to Terry M. Vereen and Devota McMehan.
I am in the process of applying for a General Permit to construct a boat dock and pier.
Ms. Heather Coats at CAMA has advised me that I must notify you as the representative
for adjacent marsh owners(Smithville Development Corporation)of my intent to
construct the boat dock and pier and supply proof that you have been notified. I am
attaching copies of the CAMA required form with a sketch of the boat dock and pier.
Please help me meet the CAMA requirement by responding as spelled out on the form.
Your rapid response will be greatly appreciated. We have been working toward
purchasing the property and obtaining the necessary permits for quite some time. Please
call me at 910-201-9923 if you have questions about any of the attached material.
Thank you.
Sincerely,
e.
Michael K. Braswell
2006 West Yacht Drie
Oak Island, NC 28465

DIVISION OF COASTAL MANAGEMENT
IJACENT RIPARIAN PROPERTY OWNER NOTIi+ICATION/WAIVER FORM
Inchvidual Applying For Permit L t-; &ci'3 WO .
of Property: �Q . 3c'// 4'' &35ez hie)
(Lot or Street#, Street or Road)
73
5)J111.1) rt , . ram zt iki
(CitY and em=Y)
certify that I own property adjacent to the above-refzrenc ed property.. The individual
for this permit has described to me as shown on the attached drawing the development they
Psing. A d� or drawing,with dimensions,should be provided with-this letter.
I have no objections to this prowl.
ave objections to what is being proposed, please write tie Division of Coastal
mean 127 Cardinal Drive Extension, Wilmington, NC.28405 or call 910-395-3900
2 days of receipt of this notice. No response is considered the same as no objection 6
been notified by Certified Mad.
_T ^W a.SKTION - -. - __
Land that a pier, dock, mooring pigs,breakwater,boat house or boat ifft must be
minimum distance of 15'from myarea of riparian access-unless waived by me. (If
to waive the setback,you must initial the appropriate blank below.)
_ . _ .
I do wish to waive the 1.'s e requ ment. •
.
I do not wish to waive the 15'setback requirement
:e • Date
S /o . /7 0 c ,,

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Sap 3uauadolanap alp alkomp patpene az j uo u &oqs seam of paquosap seq walad sup mj
I P Pum a�I. "Auadoid paouaiajaz-anoqe o o pxxreame Awdold ua-o I win fejwao
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1NAINROVNVIAL aVISV-OD 30 NIOISIAICI

DIVISION OF COASTAL MANAGEMENT
ILACENT RIPARIAN PROPERTY OWNER NO f WY1CAT ION/WAiVER FORM
Individualying For Permit - &-23/416eli
DPP'l � �
Df Property: =060. - . &4/2 ' 44e - fir
(Lot or Street it, Street or Road)
(Cityand County)
certify that I own ply adjacent to the above-rem property_ The individual
for this per nit has described to me as shown on the attached drawing the development they
using. A • • or drawin—,with dimensions,should be provided with-this letter.
I have no objections to this proposal
ave objections to what is being proposed, please write the Division of Coastal
neat, 127 Cardinal Drive Extension, Wilmington, NC.28405 or call 910-395-3900
1 days of receipt of this notice. No response is considered the same as no objection of
been notified by Certified Mail.
•
_. WA SECTION -
Land that a pier,dock,mooring Pings,breakwater,boat house or boat lift must be
mmunuffi distance of 15 from my;area of riparian access-unless waived by me_ (If
to waive the setback,you nest initial the appropriate blank below.)
_ - -
I do wish to waive the 15`setback
I do not wish to waive the 15'setback requirement
Allra
eumv1 '/
r rpfr, ,% fie.. .:, , 4901,r
�� O // .

September 6 , 2007
ENDMENT TO OFFER TO PURCHASE AND CONTRACT BETWEEN
fERS: Michael K. Braswell & Laura B. Braswell
Llers : Terry Vereen and DeVota McMehan
11 Property to be conveyed from seller to buyers to include Lot 65 ,
:!tion 2C, Marsh Creek Per Plat Book U at page 327 and also to include
Quit Claim Deed that marsh property comprising the riparian access
?.a of Lot 65 , Section 2C Marsh Creek deeded to seller 8/14/07 and
:orded Book 2657 Page 1261 Brunswick County Registy, as attached.
tCHASERS : SELLER
hael K. Braswe 1 T rry Vereen
3 - e.G nIL9
Ira B. Braswell DeVota McMehan

III IIII I 11111I 1111 IIIII Rober J. Robi son
Brunswick County. NC Register of Deeds page 1 01
S��CK C :1111e1�9
= d'��r' Robert J. Robinson Register of Deeds
08-14-2007 09:13:29.000 Brunswick County, NC
AVM 1
/ NC REVENUE STAMP: $ 50.00 (#t74100)
•tits Ills me and to e 4
R;iistratlon o Ior
your�,�, a 1i9 C•titer Ja Ret:
VDO
Ll� r ,90 Rev
�1� �o yi ��Uee11z' S 0
ck#1394 Cash$
4N`j���� :I is Cash S---- ;finance
.,.cr:, •.`document are illegible due to condition
J ;:i,ntains seats verified by original
-annot be reproduced or copied.
QUIT CLAIM DEED
['his instrument was prepared by Sandra L. Darby. Esq., P. O. Box 10807, Southport,NC 28461
[HIS DEED made this t� day August, 2007 by and between
GRANTOR GRANTEE
SMITHVILLE DEVELOPMENT CORPORATION TERRY M. VEREEN AND DEVOTA MCMEHAN
146 OCEAN GREENS LANE
CASWELL BEACH,NC 28465
[he designation Grantor and Grantee as used herein shall include said parties, their heirs, successors, a
ssigns, and shall include singular, plural, masculine, feminine or neuter as required by context.
NHEREAS, the Judge of Superior Court for Brunswick County, entered and Order in that matter entiti
ames M. Chiroco, Jr. and Bridget Chiroco v. Rodney J. Hyson, Sr. et al (07 CVSD 289) authorizing a
lirecting George Rountree, III as Receiver to take all actions necessary and proper to convey the title to t
tereinafter described property.
'OW THEREFORE WI'1`NESSETH, that the Grantor, for a valuable consideration paid by the Grant;
he receipt of which is hereby acknowledged, has remised and released and by these presents does remit
onvey, and forever quitclaim unto the Grantees, their heirs and/or successors and assigns, all right, tit
1aim-and interest of the Grantor in and to a certain lot or parcel of land lying and being in Smithvi
'ownship, Brunswick County,North Carolina, and more particularly described as follows:

•
IIII IIII I IIII IIIII IIIIIIIIII I IIIII III B2651 P12 02 0 so
Brunswick County, NC Register of Deeds page 2 i
3rantor makes no warranties, express or implied, as to the title to the property hereinabove described.
IN WITNESS WHEREOF, the Receiver has hereunto set his hand and seal the day and year f
ibove written.
SMI LE D L P N C ORATION
By _ (Seal)
GEORGE OUNTREE, IIII �i EsiDEnfi-owl>
RECEIVER
;TATE OF NORTH CAROLINA COUNTY OF NEW HANOVE4
I, Geolc-rel Lome _a Notary Public in and for the State and County of the
.foresaid, do certify that George Rountree, III, Receiver, personally appeared before me this day and
.cknowledged being authorized and directed to do so, he executed the foregoing instrument and that his
dentity was evidenced in the form of a driver's license.
WITNESS my hand and official seal or stamp, this the ( d. of August, 2007.
SEAL-STAMP)
iEOFFREY A. LOSES �� _ ���`
NOTARY PUBLIC •t Pui
HANOVER COUNTY. NC 'rime• .- aEDuFfg (-t . Lo
4y Commission expires: I I -15 -ZD09

IIIIIIII I IIII 11111 IIIIIIIIIIII IIII III 82 er Piz ob n-z9'
Brunswick County, NC Register of Deeds page 3 of 3
EXHIBIT A
BEGINNING at the most southwestern corner of lot 65 section 2 of Marsh Creek
Subdivision as shown in Map Cabinet "U" Page 237 and across the marsh of
Dutchman Creek North 72 degrees 03 minutes and 13 seconds West 227.0 feet to
a point in the bank of the creek, thence along the edge of the creek North 39
degrees 29 minutes and 02 seconds West 53.94 feet to a point, thence North 22
degrees 47 minutes and 48 seconds West 35.66 feet to a point, thence North 66
degrees 18 minutes and 31 seconds East 18.63 feet to a point, thence North 59
degrees 10 minutes and 30 seconds West 70.01 feet to a point, thence North 47
degrees 54 minutes and 42 seconds West 44.02 feet to a point, thence back across
the marsh South 73 degrees 47 minutes and 32 seconds Fast 363.62 feet to an iron
rod which is the most northwest corner of lot 65, thence along the shoreline of
said lot South 16 degrees 20 minutes and 13 seconds East 42.98 feet to an iron
pipe, thence South 06 degrees 48 minutes and 47 seconds West 44.43 feet to an
iron pipe, thence South 27 degrees 52 minutes and 18 seconds West 34.52 feet to
the point of BEGINNING.
Said tract contains 0.74 acre as surveyed by Alvie E. Lewis PLS L-1384 on 10
April 2007.
Bearings are referenced to Map Cabinet "U" Page 237 of the Brunswick County
Registry.
1

'0:3/200( 11 :0y FAX y 1 y(1 21(1 NU t1U:i1NtS:i 'AUK I t Op:3/
STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE
SUPERIOR COURT DIVISION
COUNTY OF BRUNSWICK 07 CVS 1310
CAPE FEAR REALTY, LLC, )
)
Plaintiff )
)
v. )
)
CAPE FEAR TRADING GROUP, ) SECURITY
LLC; CAPE FEAR TRADING GROUP ) SAVINGS BANK
II, LLC; CAPE FEAR TRADING ) www.security-savings.com
GROUP III, LLC; CAPE FEAR
TRADING GROUP IV, LLC; CAPE ) /4" 1>er
FEAR TRADING GROUP V, LLC; ) v\ een,r►,n"� ; ca
CAPE FEAR TRADING GROUP VI, )
LLC; CAPE FEAR TRADING GROUP ) CAc"''41 •-
VII, LLC; CAPE FEAR TRADING
GROUP VIII, LLC; CAPE FEAR ) C• )
TRADING GROUP IX, LLC; CAPE ) Cc.r .-). fc, �" �►
FEAR TRADING GROUP X, LLC; ) C ,�
CAPE FEAR TRADING GROUP XI, )
LLC; CAPE FEAR TRADING GROUP ) Kathie Lee, Loan Officer:231-9982
XII, LLC; INTRACOASTAL LIVING, )
LLC; CAPE FEAR REALTY & )
DEVELOPMENT, LLC; and 109 )
NORTH DAVIS, LLC, )
)
Defendants )
ORDER APPROVING ASSET SALE BY RECEIVER
THESE CAUSES; designated complex business cases by Order of the Chief
Justice of the North Carolina Supreme Court, pursuant to section 7A-45.4(b) of the
North Carolina General Statutes; assigned to the undersigned Special Superior Court

VO/LV V I II V J f/1A ., I JL I Y V III O VJ111CJO IJI
JUfI l �/. VVY/!
receiver of certain parties to these actions (the "Receiver Entities'), by Order of this
court dated July 26, 2007; came before the court upon the August 2, 2007 motion of the
Receiver (the "Receiver's Motion"), pursuant to the July 26, 2007 Order Appointing
Receiver, for approval of the sale of a certain asset of one of the Receiver Entities by
the Receiver; and
THE COURT, having considered the Receiver's Motion, FINDS:
1. The asset that the Receiver's Motion seeks approval to sell is a tract of
land located in Brunswick County, as is specifically described in Exhibit A to the
Receiver's Motion (such tract herein being the "Marshland").
2. The owner of the record title to the Marshland appears to be Smithville
Development Corporation, whose sole shareholder is Cape Fear Trading Group IV,
LLC.
3. Cape Fear Trading Group IV, LLC is one of the Receiver Entities.
4. The Receiver's Motion seeks approval to sell the Marshland under the
terms and conditions described in Exhibit A and B thereto.
5. The principals of Cape Fear Trading Group IV, LLC, and counsel for each,
consent to the sale of the Marshland under such terms and conditions.
NOW THEREFORE, based on the FOREGOING FINDINGS, it is HEREBY
ORDERED, ADJUDGED AND DECREED that the Receiver's Motion is GRANTED, and
the Receiver is authorized and directed to take those actions necessary and proper to
effect the sale of the Marshland under the terms and conditions described in the
Receiver's Motion and the exhibits thereto.
This the 3rd day of August, 2007.

•
Margaret Rudd & Associates, Inc., REALTORS
1023 N. Howe Street
Southport, NC 28461
Phone: [phone], Fax: [phone]
OFFER TO PURCHASE AND CONTRACT-VACANT LOT/LAND
Phis contract is intended for unimproved real property that Buyer will purchase only for personal use and will not subdivi
)t be used to sell subdivided property that has not been platted, properly approved and recorded with the register of deed5
,f the contract. If Seller is Buyer's builder and the sale involves the construction of a new single family dwelling prior to cl
andard Offer to Purchase and Contract(Form 2-T)with the New Construction Addendum(Form 2A3-T).
rry M Vereen
Vota McMehan
hereby offers to purchase and
ithville Development Corporation/owned by
3e Fear Trading Group IV, LLC
upon acceptance of said offer, agrees to sell and convey, all of that plot, piece or parcel of land described below (her
as the "Property"), upon the following terms and conditions:
L PROPERTY: Located in the City of n/a , Cow
,State of North Carolina,being known as and more particularly describ
tress Riparian Access area of Lot 65 per Exhibit A Attached Zip 28461
m Name Adjacent to Marsh Creek Subdivision Per Map Book U at page 237
ence: Lot Exhibit A Attached , Block or Section n/a as shoe
or Slide n/a at Page(s)
n/a (Property acquired by Seller in
at Page n/a ).
A portion of the property in Deed Reference: Book 0671 Page No. 0608 , Brunswick C
rior to signing this Offer to Purchase and Contract-Vacant Lot/Land, Buyer is advised to review Restrictive Covenants, i
y limit the use of the Property, and to read the Declaration of Restrictive Covenants, By-Laws, Articles of Incorpor
Regulations,and other governing documents of the owners'association and/or the subdivision, if applicable.
l'HASE PRICE: The purchase price is$IM& and shall be
ows:
, EARNEST MONEY DEPOSIT with this offer by ❑ cash ® personal check ❑ bank c
tified check ❑ other: n/a to be depc
:Id in escrow by Margaret Rudd & Associates. Inc. . REALTORS ("Escrow Agent");until the s
, at which time it will be credited to Buyer, or until this contract is otherwise terminated. In the event: (1) this offer i
ed; or (2) any of the conditions hereto are not satisfied, then all earnest monies shall be refunded to Buyer. In the eve
of this contract by Seller, all earnest monies shall be refunded to Buyer upon Buyer's request, but such return shall not
her remedies available to Buyer for such breach. In the event of breach of this contract by Buyer,then all earnest monies
Felted to Seller upon Seller's request,but such forfeiture shall not affect any other remedies available to Seller for such br
In the event of a dispute between Seller and Buyer over the return or forfeiture of earnest money held in escrow
the broker is required by state law to retain said earnest money in the broker's trust or escrow account until a w
from the parties consenting to its disposition has been obtained or until disbursement is ordered by a court of comp
ction.
, ADDITIONAL EARNEST MONEY DEPOSIT to be paid to Escrow Agent no later
,TIME BEING OF THE ESSENCE WITH REGARD TO SAID DATE.
OPTION FEE in accordance with paragraph 1 1, Alternative 2,to be paid to Seller on the Effective
orth in paragraph 19. (NOTE: If Alternative 2 applies,then do not insert $0,N/A,or leave blank).
, BY ASSUMPTION of the unpaid principal balance and all obligations of Seller on the existing I
by a deed of trust on the Property in accordance with the attached Loan Assumption Addendum.
.� , BY SELLER FINANCING in accordance with the attached Seller Financing Addendum.

nts not to exceed n/a %of the loan amount. Buyer shall apply for said loan within n/a da:
ective Date of this contract. Buyer shall use Buyer's best efforts to secure the lender's customary loan commitment let
ore n/a and to satisfy all terms and conditions of the loan commitment letter by Closing.
ve letter date,Seller may request in writing from Buyer a copy of the loan commitment letter. If Buyer fails to provide Sell
he loan commitment letter or a written waiver of this loan condition within five days of receipt of Seller's request, Sr
•nate this contract by written notice to Buyer at any time thereafter,provided Seller has not then received a copy of the let
•ver.
re must be no restriction, easement, zoning or other governmental regulation that would prevent the reasonable u;
perty for Pier and boat dock construction, use and maintenance purposes("Intendr
Property must be in substantially the same or better condition at Closing as on the date of this offer, reasonable wear
epted.
deeds of trust, liens and other charges against the Property, not assumed by Buyer, must be paid and satisfied by Sel
or at Closing such that cancellation may be promptly obtained following Closing. Seller shall remain obligated to of
h cancellations following Closing.
le must be delivered at Closing by GENERAL WARRANTY DEED unless otherwise stated herein, and must be fe
rketable and insurable title, free of all encumbrances except: ad valorem taxes for the current year(prorated through thr
)sing); utility easements and unviolated restrictive covenants that do not materially affect the value of the Property;
ter encumbrances as may be assumed or specifically approved by Buyer. The Property must have legal access to a put
,vay.
ECIAL ASSESSMENTS: Seller warrants that there are no pending or confirmed governmental special assessm
k, paving, water, sewer, or other improvements on or adjoining the Property, and no pending or confirmed owners' as'
assessments,except as follows:
"None" or the identification of such assessments, if any.) Seller shall pay all owners' association assessments
rental assessments confirmed through the time of Closing, if any, and Buyer shall take title subject to all pending asse
mless otherwise agreed as follows:
ORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated and either
i the parties or paid at Closing: (a) Ad valorem taxes on real property shall be prorated on a calendar year basis thrc
Closing; (b) All late listing penalties, if any, shall be paid by Seller; (c) Rents, if any, for the Property shall be prorated
of Closing; (d) Owners' association dues and other like charges shall be prorated through the date of Closing
its that the regular owners'association dues, if any, are$ n/a per n/a
PENSES: Unless otherwise agreed, Buyer shall be responsible for all costs with respect to any loan obtained by Bu:
title insurance,recording the deed and for preparatrdn"and recording of all instruments required to secure the balance of the r
paid at Closing.Seller shall pay for preparation of a deed and all other documents necessary to perform Seller's obligatior
:ement,and for excise tax(revenue stamps)required by law. Seller shall pay at Closing$ n/a towai
expenses associated with the purchase of the Property, including any FHA/VA lender and inspection costs that Buye
d to pay,but excluding any portion disapproved by Buyer's lender.
IDENCE OF TITLE: Seller agrees to use his best efforts to deliver to Buyer as soon as reasonably possible after the E
this contract, copies of all title information in possession of or available to Seller, including but not limited to: title in
attorneys opinions on title, surveys, covenants, deeds, notes and deeds of trust and easements relating to the Propert)
es (1) any attorney presently or previously representing Seller to release and disclose any title insurance policy
's file to Buyer and both Buyer's and Seller's agents and attorneys; and (2) the Property's title insurer or its agent to rele
all materials in the Property's title insurer's (or title insurer's agent's) file to Buyer and both Buyer's and Seller's age
s.
BOR AND MATERIAL: Seller shall furnish at Closing an affidavit and indemnification agreement in form satisfar
howing that all labor and materials, if any, furnished to the Property within 120 days prior to the date of Closing ha'
and agreeing to indemnify Buyer against all loss from any cause or claim arising therefrom.
DSING: Closing shall be defined as the date and time of recording of the deed. All parties agree to execute any
its and papers necessary in connection with Closing and transfer of title on or before 15 days beyond date of cents,
e designated by Buyer.The deed is to be made to buyers Above
VG SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION U.
;ION IS OTHERWISE MADE IN WRITING.
;SESSION: Unless otherwise provided herein, possession shall be delivered at Closing. No alterations, excavatioi
nr nth.r o..nl.not;..;44e.........

or regulation that prohibits, restricts or limits Buyer's Intended Use, and (iv) there is no flood hazard that prohibits, n
Buyer's Intended Use (collectively the "Reports"). All costs and expenses of obtaining the Reports shall be borne by
all use Buyer's best efforts to obtain such Reports. If the Reports cannot be obtained, Buyer may terminate this contr.
:st Money Deposit shall be refunded to Buyer. Buyer waives this condition unless Buyer provides written notice to Se
that this condition cannot be satisfied, time being of the essence.
:r System (check only ONE):
has investigated the costs and expenses to install the sewer system approved by the Improvement Permit attached he
and hereby approves and accepts said Improvement Permit.
represents that the system has been installed, which representation survives Closing, but makes no further representation
m. Buyer acknowledges receipt of the Improvement Permit attached hereto as Exhibit A. Buyer shall have the opt
or obtaining, at Buyer's expense, inspection(s) to determine the condition of the system. If the system is not performi
'or which intended and is in need of immediate repair,Buyer may terminate this Contract and the Earnest Money Deposit s
to Buyer. Buyer waives this condition unless Buyer provides written notice to Seller by n/a
lion cannot be satisfied,time being of the essence.
)ntract is contingent upon ❑ Buyer ❑ Seller("Responsible Party")obtaining an Improvement Permit or written eval
ounty Health Department("County")for a(check only ONE) ❑conventional or ❑other n/a
rsorption sewage system for a n/a bedroom home. All costs and expenses of obtaining such Permit or written eval
,orne by Responsible Party unless otherwise agreed. In any event Seller,by no later than n/a
sible for clearing that portion of the Property required by the County to perform its tests and/or inspections. Responsible
best efforts to obtain such Permit or written evaluation. If the Improvement Permit or written evaluation from the County
:d by n/a (date), either party may terminate this Contract and the Eanest Money Deposit sl
to Buyer.
has investigated and approved the availability,costs and expenses to connect to a 0 public or ❑community sewer system
•sisal Contingency: The Property must appraise at a value equal to or exceeding the purchase price or,at the option of
ict may be terminated and all earnest monies shall be refunded to Buyer. If this contract is not subject to a financing contir
an apraisal,Buyer shall arrange to have the appraisal completed on or before n/a . The cost
shall be borne by Buyer.
SING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDI'
PROVISION IS OTHERWISE MADE IN WRITING.
RNATIV E 2: This Alternative applies ONLY if Alternative 2 is checked AND Buyer has paid the Option Fee.)
erty Investigation with Option to Terminate: In consideration of the sum set forth in paragraph 2(c) paid by Buyer to
rw Agent) and other valuable consideration, the sufficiency of which is hereby acknowledged (the "Option Fee"), Buyei
ight to terminate this contract for any reason or no reason,whether related to the physical condition of the Property or othe
ing to Seller written notice of termination(the"Termination Notice")by 5:00 p.m.on n/a , time
'nce (the "Option Termination Date"). At any time prior to Closing,Buyer shall have the right to inspect the Property at B
Buyer is advised to have all inspections and appraisals of the Property, including but not limited to those matters set fc
e 1,performed prior to the Option Termination Date).
rise of Option: If Buyer delivers the Termination Notice prior to the Option Termination Date, time being of the essencr
hall become null and void and all earnest monies received in connection herewith shall be refunded to Buyer; howevc
e will not be refunded and shall be retained by Seller. If Buyer fills to deliver the Termination Notice to Seller prior
rmination Date, then Buyer will be deemed to have accepted the Property in its physical condition existing as of the C
in Date; provided such acceptance shall not constitute a waiver of any rights Buyer has under paragraph 3. The Option
able,is not part of any earnest monies,and will be credited to the purchase price at Closing.
SING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDI
PROVISION IS OTHERWISE MADE IN WRITING.
IT OF ENTRY,RESTORATION AND INDEMNITY: Buyer and Buyer's agents and contractors shall have the nil
r the Property for the purpose of appraising the Property, and performing the tests and inspections permitted in this col
erminates this contract as provided herein, Buyer shall, at Buyer's expense, restore the Property to substantially its pre
within thirty days of contract termination. Buyer will indemnify and hold Seller harmless from all loss, damage, claims,sr
:h shall arise out of any contract,agreement,or injury to any person or property as a result of any activities of Buyer and B
contractors relating to the Property.This indemnity shall survive this contract and any termination hereof.Notwithstandii
Seller shall be responsible for any loss,damage,claim,suit or cost arising out of pre-existing conditions of the Property
er's negligence or willful acts or omissions.

iIGNMENTS: This contract may not be assigned without the written consent of all parties, but if assigned by agreemei
ract shall be binding on the assignee and his heirs and successors.
2TIES: This contract shall be binding upon and shall inure to the benefit of the parties, i.e., Buyer and Seller and thei
prs and assigns. As used herein, words in the singular include the plural and the masculine includes the feminine and
as appropriate.
WIVAL: If any provision herein contained which by its nature and effect is required to be observed, kept or perform€
ing, it shall survive the Closing and remain binding upon and for the benefit of the parties hereto until fully observed,
�d.
.'IRE AGREEMENT: This contract contains the entire agreement of the parties and there are no representations, induc
provisions other than those expressed herein. All changes, additions or deletions hereto must be in writing and signed
"Jothing contained herein shall alter any agreement between a REALTOR® or broker and Seller or Buyer as contained
;reement, buyer agency agreement, or any other agency agreement between them.
[ICE AND EXECUTION: Any notice or communication to be given to a party herein may be given to the party or t
gent. This offer shall become a binding contract (the "Effective Date") when signed by both Buyer and Seller an,
s communicated to the offering party. This contract is executed under seal in signed multiple originals, all of which tc
one and the same instrument, with a signed original being retained by each party and each REALTOR® or broker
►arties adopt the word "SEAL"beside their signatures below.
:knowledges having made an on-site personal examination of the Property prior to the making of this offer.
)RTH CAROLINA ASSOCIATION OF REALTORS®, INC. AND THE NORTH CAROLINA BAR ASSOCl/
JO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FOI
ECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PRC
PUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE
/4V ;/ -7DATE r-ko 1 (SEAT
r M Vereen
0 \J )Th Cl i-� DATE /�' 07 (SEAT_
:a McMehan
ville�D_ 'opment C-f .ora. .on/.wned y
Fear ra•• n. Gro p ��!`CCY
'' ,
DATE 2 : (SEAL
eorge Rountree. III. Reciever
.gent acknowledges receipt of the earnest money and agrees to hold and disburse the same in accordance wii
reof.
-///1 /
Firm: Margaret Rudd & Associates. Inc. . REALTO
By. /,,(247R4,..%
i ature)
gent/Firm/Phone Margaret Rudd Bishop

Acting as D Seller's(sub)Agent ❑ Dual Agent
Individual license#: n/a

QUIT CLAIM DEED
is instrument was prepared by Sandra L. Darby, Esq., P. O. Box 10807, Southport, NC 28461
IIS DEED made this day August, 2007 by and between
GRANTOR GRANTEE
SMITHVILLE DEVELOPMENT CORPORATION TERRY M.VEREEN AND DEVOTA MCMEHAN
146 OCEAN GREENS LANE
CASWELL BEACH,NC 28465
e designation Grantor and Grantee as used herein shall include said parties, their heirs, successors, anc
igns, and shall include singular,plural,masculine, feminine or neuter as required by context.
)W THEREFORE WITNESSETH, that the Grantor, for a valuable consideration paid by the Grantee.
receipt of which is hereby acknowledged, has remised and released and by these presents does remise,
Ivey, and forever quitclaim unto the Grantees, their heirs and/or successors and assigns, all right, title.
im and interest of the Grantor in and to a certain lot or parcel of land lying and being in Smithvill€
wnship, Brunswick County,North Carolina, and more particularly described as follows:
See Attached Exhibit A
HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto
Dnging to the Grantee in fee simple.

•
•antor makes no warranties, express or implied, as to the title to the property hereinabove described.
IN WITNESS WHEREOF, the Grantor has caused this instrument signed in its name by its dul;
thorized member, the day and year first above written.
SMITHVILLE DEVELOPMENT CORPORATION
By (Seal)
TITLE:
By (Seal)
TITLE:
'ATE OF NORTH CAROLINA
)UNTY OF
I, , a Notary Public in and for the State and County aforesaid, do
iffy that the following person(s) personally appeared before me this day, each acknowledging to me tha
or she being authorized to do so and as the act of the corporation, voluntarily executed the foregoing on behal
said corporation for the purposes stated therein and that the identity of each was duly proven by presentation
a driver's license.
me: Title:
me: Title:
tness my hand and official seal, this the , day of August, 2007.

EXHIBIT A
BEGINNING at the most southwestern corner of lot 65 section 2 of Marsh Creek
Subdivision as shown in Map Cabinet "U" Page 237 and across the marsh of
Dutchman Creek North 72 degrees 03 minutes and 13 seconds West 227.0 feet to
a point in the bank of the creek, thence along the edge of the creek North 39
degrees 29 minutes and 02 seconds West 53.94 feet to a point, thence North 22
degrees 47 minutes and 48 seconds West 35.66 feet to a point, thence North 66
degrees 18 minutes and 31 seconds East 18.63 feet to a point, thence North 59
degrees 10 minutes and 30 seconds West 70.01 feet to a point, thence North 47
degrees 54 minutes and 42 seconds West 44.02 feet to a point, thence back across
the marsh South 73 degrees 47 minutes and 32 seconds East 363.62 feet to an iron
rod which is the most northwest corner of lot 65, thence along the shoreline of
said lot South 16 degrees 20 minutes and 13 seconds East 42.98 feet to an iron
pipe, thence South 06 degrees 48 minutes and 47 seconds West 44.43 feet to an
iron pipe, thence South 27 degrees 52 minutes and 18 seconds West 34.52 feet to
the point of BEGINNING.
Said tract contains 0.74 acre as surveyed by Alvie E. Lewis PLS L-1384 on 10
April 2007.
Bearings are referenced to Map Cabinet "U"Page 237 of the Brunswick County
Registry. - -

III III 1111111111 III B2651. P 12610 T
Brunswick County. NC Register of Deeds page 1
DIII
NORM CAR01-INA .'4IRobert J. Robinson Register of Deeds
OFBRUNSWtCK t/� 08-14-2007 09:13:29.000 Brunswick County, NC
filedfor; /� NC REVENUE STAMP: $ 50.00 (#74100)ment hasbtmeandinthe /�n the Date,'
ge shown otetomed forand is beingour safekeeping• t(rl,er b7 C: 12 Rt: l�� �. � -do Rev ;nt.Register at DeedsRoinson Q C2511C2sh$Gk;V- Cash S Finance
document are illegible due to cocdioon
c-intains seals verified by original
unot be reproduced or copied.
QUIT CLAIM DEED
This instrument was prepared by Sandra L. Darby, Esq., P. O. Box 10807, Southport.NC 28461
THIS DEED made this��d� day August, 2007 by and between
GRANTOR GRANTEE
SMITHVILLE DEVELOPMENT CORPORATION TERRY M. VEREEN AND DEVOTA MCMEHA1.
146 OCEAN GREENS LANE
CASWELL BEACH,NC 28465
The designation Grantor and Grantee as used herein shall include said parties, their heirs, successors,
assigns,and shall include singular,plural, masculine, feminine or neuter as required by context.
WHEREAS, the Judge of Superior Court for Brunswick County, entered and Order in that matter enti
James M. Chiroco, Jr. and Bridget Chiroco v. Rodney J. Hyson, Sr. et al (07 CVSD 289) authorizing
directing George Rountree, III as Receiver to take all actions necessary and proper to convey the title to
hereinafter described property.
NOW THEREFORE WI'INESSET1-1, that the Grantor, for a valuable consideration paid by the Gran
the receipt of which is hereby acknowledged, has remised and released and by these presents does rem
convey, and forever quitclaim unto the Grantees, their heirs and/or successors and assigns, all right, tE
claim-and interest of the Grantor in and to a certain lot or parcel of land lying and being in Smith\
Township, Brunswick County,North Carolina, and more particularly described as follows:

, ) i
III IIII I IIII II I I I IlilliHh'I II I I I III B2651 11.11.
1262
Robert J. Robins
Brunswick County, NC Register of Deeds page 2
Grantor makes no warranties, express or implied, as to the title to the property hereinabove described.
IN WITNESS WHEREOF, the Receiver has hereunto set his hand and seal the day and year
above written.
SMIT AL, /LED. •PM N"C• ' 'ORATION
By if l b (Seal)
GEORGE OUNTREE, IIII �i FS/DEM >
RECEIVER
STATE OF NORTH CAROLINA COUNTY OF NEW I-kANOVEZ
I, GeWcrel Pt. Loee a Notary Public in and for the State and County of the
aforesaid, do certify that George Rountree, III, Receiver , personally appeared before me this day and
acknowledged being authorized and directed to do so, he executed the foregoing instrument and that hi
identity was evidenced in the form of a driver's license.
WITNESS my hand and official seal or stamp, this the 1 ( d. of August, 2007.
(SEAL-STAMP)
FFREY A. LOSES _-�`
GEO .t
NOTARY PUBLIC PuMilaA
IEW HANOVER COUNTY, NC 'rinte• . 6E4FF(Z f-t .
My Commission expires: I I -l5 -ZOOS

•
111111111110111111111111111111111111 B2657 ?1263 0 sod 2
Brunswick County, NC Register of Deeds page 3 of
EXHIBIT A
BEGINNING at the most southwestern corner of lot 65 section 2 of Marsh Creek
Subdivision as shown in Map Cabinet "I)" Page 237 and across the marsh of
Dutchman Creek North 72 degrees 03 minutes and 13 seconds West 227.0 feet to
a point in the bank of the creek, thence along the edge of the creek North 39
degrees 29 minutes and 02 seconds West 53.94 feet to a point, thence North 22
degrees 47 minutes and 48 seconds West 35.66 feet to a point, thence North 66
degrees 18 minutes and 31 seconds East 18.63 feet to a point, thence North 59
degrees 10 minutes and 30 seconds West 70.01 feet to a point, thence North 47
degrees 54 minutes and 42 seconds West 44.02 feet to a point, thence back across
the marsh South 73 degrees 47 minutes and 32 seconds East 363.62 feet to an iron
rod which is the most northwest corner of lot 65, thence along the shoreline of
said lot South 16 degrees 20 minutes and 13 seconds East 42.98 feet to an iron
pipe, thence South 06 degrees 48 minutes and 47 seconds West 44.43 feet to an
iron pipe, thence South 27 degrees 52 minutes and 18 seconds West 34.52 feet to
the point of BEGINNING.
Said tract contains 0.74 acre as surveyed by Alvie E. Lewis PLS L-1384 on 10
April 2007.
Bearings are referenced to Map Cabinet "U" Page 237 of the Brunswick County
Registry.

SENDER: COMPLETE THIS SECTION COMPLETE THIS SECTION ON DELIVERY
■ Complete items 1,2,and 3.Also complete A. Sign re
item 4 if Restricted Delivery is desired. ent
■ Print your name and address on the reverse ( 1/an ru ❑Addressee
so that we can return the card to you. g. R eived by(Printed Name) C. Dat of D livery
• Attach this card to the back of the mailpiece,
i
or on the front if space permits. [�j (�
D. Is delivery address different from item 1. ❑Ye
1. Article Addressed to: If YES,enter delivery address below: ID No
R20. f L lY1tl bite
( 3. Service Type
(Mir.�' ��\ 0 Certified Mail 0 Express Mail
r
I 0 Registered ❑Return Receipt for Merchandise
/)‘'./Jt.) — / (..yf4 0 Insured Mail 0 C.O.D.
Lf 4. Restricted Delivery?(Extra Fee) ❑Yes
2. Article Number 7006 2150 0001 8862 3375
(Transfer from service la.,.,,,
PS Form 3811, February 2004 Domestic Return Receipt 102595-02-M-15401
• Complete items 1,2,and 3.Also complete A. Signature
item 4 if Restricted Delivery is desired. ❑Agent
• Print your name and address on the reverse C I 0 Addressee
so that we can return the card to you. B. Received by(Prf ted Na e) C. Date of Delivery
■ Attach this card to the back of the mailpiece,
or on the front if space permits.
D. Is delivery address di -rent from item 1? ❑Yes
1. Article Addressed to: If YES,enter delivery address below: ❑ No
cT 1/du 11
3aa '
/ �15
! fir• 3. Service Type
/e CI Certified Mail 0 Express Mail
_c)i-d-Apel- l/ ❑ Registered ❑ Return Receipt for Merchandise
C // I El Insured Mail El C.O.D.
(�(Q`� 4. Restricted Delivery?(Extra Fee) 0 Yes
2. Article Number
(Transfer from service label) 2T29 2LQfi 11000 OTL0 LOOL
PS Form 3811, February 2004 Domestic Return Receipt 102595-02-M-1540 1
• . n.• - ! lE! iAO
1H911A 3H1013dO13AN3 AO d011V 113)43I1S 33V1d
SENDER: COMPLETE THISSECTIO.. ��••• --•� •••• �- ••-••�••���••�•..
■ Complete items 1,2,and 3.Also complete A.
item 4 if Restricted Delivery is desired. /9■ Print your name and address on the reversele_........ 1;11.::gders
see
so that we can return the card to you. :. --ceived by(Printed Name) C. Date of Delivery
• Attach this card to the back of the mailpiece,
or on the front if space permits.
D. Is delivery address different from item 1? ❑Yes
1. Article ddressed to: If YES,enter delivery address below: ❑ No
c2al1 / 2i7(U 55A4 A:
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