OIB_04-16_Carter

Ocean Isle Beach ISSUED BY CRC
Transfer VARIANCE
VR-11
Permit Number
CAMA OIB 04.16
MINOR DEVELOPMENT
PERMIT
as authorized by the State of North Carolina, Department of environment,
and Natural Resources and the Coastal Resources Commission for development
in an area of environment concern pursuant to Section 113A-I18 of the
General Statutes, -Coastal Area Management
Permit transferred to Gary Carter on December 13, 2011, authorizing development in the Estuarine Shoreline (AEC) at 50 Union
Street, Lot 56, Block 8, Section A&B, in Ocean Isle Beach, as requested in the permittee's application, dated January 30, 2004.
This permit, issued on September 14, 2004is subject to compliance with the application and original 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 rtnittee to a fine, im risonment or civil action, or may cause the permit to be null and void.
This permit is issued by the Coastal Resources Commission Variance -Final Order dated, August 30, 2004. All proposed
development and associated construction must be done in accordance with the application and work plat drawings(s) dated
January 30, 2004 and subject to the following stipulations of the CRC Variance Final Order and additional permit conditions listed
on Page 2.
(1) The permittee shall obtain a stormwater management plan meeting the requirements of 15A NCAC71-1.0209(d)(10)(J)(i f),
certified by an individual who meets applicable State occupational licensing requirements for the type of system proposed
and approved by the appropriate governmental authority during the permit application process.
(2) Prior to occupancy of the residential structure and issuance of final Certificate of Occupancy (CO) by the local permitting
authority, the permittee shall provide a certification from the design professional that the stormwater system has been
inspected and installed in accordance with this permit, the approved plans and specifications and other supporting
documentation.
(3) The permittee shall provide the proper operation and maintenance necessary to insure that the engineered stormy
management system functions at optimum efficiency and within the design specifications for the life of the project, and
(Additional Permit Conditions on Page 2)
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 unfit 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
modification not covered under this permit, require further written permit
approval. All work must cease when this permit expires on:
DECEMBER 31, 2013
In issuing this permit it is agreed that this project is consistent 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 Division of Coastal
Management.
r
Braxton C. Davis
Director
NC Division of Coastal Management
400 Commerce Avenue
Morehead City, N.C. 28557
PERMITTEE
(Signature required if conditions above apply to permit)

Name: Gary Carter
Minor Permit #04.16
Date: December 13, 2011
Page 2
(4) The permittee shall insure that the obligation for operation and maintenance of the stormwater management system
becomes a permanent obligation of future property owners.
(5) All proposed development and associated construction must be done in accordance with the permitted work plat
drawing(s) dated received on January 30, 2004.
(6) All construction must conform to the N.C. Building Code requirements and all other local, State and Federal
regulations, applicable local ordinances and FEMA Flood Regulations.
(7) Any change or changes in the plans for development, construction, or land use activities will require a re-evaluation
and modification of this permit.
(8) A copy of this permit shall be posted or available on site. Contact this office at [phone] for a final inspection
at completion of work.
(9) All unconsolidated material resulting from associated grading and landscaping shall be retained on site by effective
sedimentation and erosion control measures. Prior to any land -disturbing activities, a barrier line of filter cloth must
be installed between the land disturbing activity and the adjacent marsh or water areas, until such time as the area
has been properly stabilized with a vegetative cover.
(10) Any proposed for grading within the 30' buffer from the normal high water must be contoured to prevent additional
stormwater runoff to the adjacent marsh. This area shall be immediately vegetatively stabilized, and must remain in
a vegetated state.
(11) All other disturbed areas shall be vegetatively stabilized (planted and mulched) within 14 days of construction
completion.
SIGNATURE:
PERMITTEE
DATE:

Ocean Isle each
Local Government ISSUED BY CRC
F I \j AL VARIANCE
EXTENSION VR-04.11
Permit Number
OIS 04-16
CAMA
111NOR DEVELOPMENT -�
PERMIT �>L_
as authorized by the State of North Carolina, Department of Environment,
and Natural Resources and the Coastal Resources Commission for development
In an area of environment concern pursuant to Section 113A-118 of the
General Statutes, "Coastal Area Management"
Issued to Richard L. Vanstory,authorizing development in the Estuarine Shoreline (AEC) at 50 Union Street, Lot 56,
Block 8, Section A&B, in Ocean Isle Beach, as requested in the permittee's application, dated January 30, 2004, This
Permit, issued on December 18 2008 is subject to compliance with the application and site drawing (when; consistent
with the permit), all applicable regulations and special conditions and notes set forth below. Any violation of these terms
may subject permiftee to a fine, imprisonment or civil action, or may cause the permit to be null and void.
This permit is issued by Coastal Resources Commission Variance - Final Order dated, August 30. 2004. All proposed
development and associated construction must be done in accordance with the application and work plat drawings dated January
30, 2004, and subject to the following stipulations of the CRC Variance Final Order and additional permit conditions listed on Page
2.
CRC Variance Final Order
(1) The permittee shall obtain a stormwater management plan meeting the requirements of 15A NCAC7H.0209 (d)(10)(J)(jv),
certified by an Individual who meets applicable State occupational licensing requirements for the type of system proposed, and
approved by the appropriate governmental authority during the permit application process;
(2) Prior to occupancy of the residential structure and issuance of final Certificate of Occupancy (CO) by the local permitting
authority, the permittee shad provide a certiication from the design professional that the stormwater system has been inspected
and installed in accordance with this permit, the approved plans and specifications and other supporting documentation.
(3) The permittee shall provide the proper operation and maintenance necessary to insure that the engineered stormwater
management system functions at optimum efficiency and within the design specifications for the life of the project; and
(Additional Permit Conditions _ Page 2)
This Permit action may be appealed by the permittee or other quallfed persons
within Iwenty (20) days of the Issuing dale. From the dale of an appeal, any
work conducted under this peril most cease urlll the appeal is resolved. This
Permit must be on the project site and accessible lu the peril officer when the
project is inspected for ccmplarce. Any maintenance wank or prolect
modification not covered under this peril, require further written permit
approval. All work must cease when this permit expires on:
December 31, 2009
In issuing !his periUl is agreed that this prclet is consistent mlh the local Land
Use Plan and all applicable ordinances. This peimil may ncl be transferred to
another Park/ without the written approval of the Division of Coastal
Management.
RECEIVED
JAN 0 7 2009
Justin W. Whiteside
CAMA LOCAL PERMIT OFFICIAL
3 West Third Street
Ocean Isle Beach, NC 28469
PERMITTEE
(Signature required if conditions above apply to permit)
DCM WILMIN "`N- NC

r .a
Name: Richard L. Vanstory, Sr.
Minor Permit # 04.16
Date: December 18, 2008
Page 2
(4) The permittee shall Insure that the obligation for operation and maintenance of the stormwater management system
becomes a permanent obligation of future property owners.
(5) All proposed development and associated construction must be done in accordance with the permitted work plat
drawings(s) dated received on January 30, 2004.
(6) All construction must conform to the N.C. Building Code requirements and all other local, State and Federal
regulations, applicable local ordinances and FEMA Flood Regulations.
(7) Any change or changes in the plans for development, construction, or land use activities will require a re-evaluation
and modification of this permit.
(8) A copy of this permit shall be posted or available on site. Contact this office at [phone] for a final inspection
at completion of work.
(9) All unconsolidated material resulting from associated grading and landscaping shall be retained on site by effective
sedimentation and erosion control measures. Prior to any land -disturbing activities, a barrier line of filter cloth must
be installed between the land disturbing activity and the adjacent marsh or water areas, until such time as the area
has been property stabilized with a vegetative cover.
(10) Any proposed grading within the 30' buffer from the norm at high water must be contoured to prevent additional
stormwater runoff to the adjacent marsh. This area shall be immediately vegetatively stabilized, and must remain in
a vegetated state.
(11) All other disturbed areas shall be vegetatively stabilized (planted and mulched) within 14 days of construction
completion. '
(12) This permit is for a one year extension. THIS IS THE FINAL EXTENSION. PERMIT WILL EXPIRE
December,31, 2009.
SIGNATURE: /��`c C DATE: 1�2
J� PERMITTEE

10-20-2008
Justin Whiteside
Planning director
Town of Ocean Isle Beach
REF: CAMA PERMIT.OIB-04-16 / VARIANCE VR 04-11
Dear Justin,
Per our earlier conversations I am writing you to request an extension of the above permit
and variance.
In accordance with 15A NCAC 07J .0404 I submit
1. It is my intention to rebuild my bulkhead in a timely fashion as to conclude with
the current dredging project for OIB canals. It is fiuther my intent to install the
dock and or boat lift as well as build a home as the construction of the dredging of
the canals and building of the bulkhead permits.
2. It has been extremely difficult for us to start this project since we were granted the
permit due to illness in the family, financial constraints and the desire to
coordinate the building of the bulkhead with the proposed dredging of the canals.
3. We have not changed our intentions and or design of the proposed home for this
property. All plans for this project remain as presented to the board.
4. While we do not truly desire to sell this property and have not sold this property,
this property is for sale along with other coastal property we own. We desire to
sale other property so to allow us to complete our dream of having a home at OIB.
However, maintaining the permit and variance is essential to maintain the true
value of this property.
5. The proposed project is in keeping with the originally submitted details when
applying for the current CAMA permit and variance. The proposed project is in
compliance with all conditions of the current permit.
I respectfully request an extension of my current permit and variance.
Respect
Richar - anstory Sr.
RECEIVED
JAN 0 7 20M
DCM WUAlty-{-i ; ,Nr:

Ocean Isle Beach ISSUED BY CRC
Transfer VARIANCE
VR-11
Permit Number
01B 04.16
CAMA
MINOR DEVELOPMENT
PERMIT
as authorized by the State of North Carolina, Department of Environment,
and Natural Resources and the Coastal Resources Commission for development
in an area of environment concern pursuant to Section 113A-118 of the
General statutes -coastal Area Management
Permit transferred to Gary Carter on December 13, 2011, authorizing development in the Estuarine Shoreline (AEC) at 50 Union
Street, Lot 56, Block 8, Section A&B, in Ocean Isle Beach, as requested in the pernittee's application, dated January 30, 2004.
This permit, issued on September 14, 2004, is subject to compliance with the application and original 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 is issued by the Coastal Resources Commission Variance -Final Order dated, August 30, 2004, All proposed
development and associated construction must be done in accordance with the application and work plat drawings(s) dated
January 30, 2004 and subject to the following stipulations of the CRC Variance Final Order and additional permit conditions listed
on Page 2.
(1) The permittee shall obtain a stormwater management plan meeting the requirements of 15A NCAC71-1.0209(d)(10)(J)(iv),
certified by an individual who meets applicable State occupational licensing requirements for the type of system proposed
and approved by the appropriate governmental authority during the permit application process.
(2) Prior to occupancy of the residential structure and issuance of final Certificate of Occupancy (CO) by the local permitting
authority, the permittee shall provide a certification from the design professional that the stormwater system has been
inspected and installed in accordance with this permit, the approved plans and specifications and other supporting
documentation.
(3) The permittee shall provide the proper operation and maintenance necessary to insure that the engineered stormu
management system functions at optimum efficiency and within the design specifications for the life of the project; and
(Additional Permit Conditions on Page 2)
This permit action may be appealed by the permittee or other qualified persons
within twenty (20) days of the issuing dale. From the dale 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 Braxton C. Davis
modification not covered under this permit, require further written permit Director
approval. All work must cease when this permit expires on: NC Division of Coastal Management
DECEMBER 31, 2013 400 Commerce Avenue
In issuing this permit it is agreed that this project is consistent with the local Land orehead Ci N.C.28557
Use Plan and all applicable ordinances. This permit may not be transferred to
another party without the written approval of the Division of Coastal
Management. PERMITTEE
p e . 4� (Signature required if conditions above apply to permit)
DEC 2 8 2011
v: WILMINGTON. NC

Name: Gary Carter
Minor Permit #04.16
Date: December 13, 2011
Page 2
(4) The permittee shall insure that the obligation for operation and maintenance of the stormwater management system
becomes a permanent obligation of future property owners.
(5) All proposed development and associated construction must be done in accordance with the permitted work plat
drawing(s) dated received on January 30, 2004.
(6) All construction must conform to the N.C. Building Code requirements and all other local, State and Federal
regulations, applicable local ordinances and FEMA Flood Regulations.
(7) Any change or changes in the plans for development, construction, or land use activities will require a re-evaluation
and modification of this permit.
(8) A copy of this permit shall be posted or available on site. Contact this office at [phone] for a final inspection
at completion of work.
(9) All unconsolidated material resulting from associated grading and landscaping shall be retained on site by effective
sedimentation and erosion control measures. Prior to any land -disturbing activities, a barrier line of filter cloth must
be installed between the land disturbing activity and the adjacent marsh or water areas, until such time as the area
has been properly stabilized with a vegetative cover.
(10) Any proposed for grading within the 30' buffer from the normal high water must be contoured to prevent additional
stormwater runoff to the adjacent marsh. This area shall be immediately vegetatively stabilized, and must remain in
a vegetated state.
(11) All other disturbed areas shall be vegetatively stabilized (planted and mulched) within 14 days of construction
completion.
RECEIVE®
DEC 2 8 2011
XIM WILMINGION NC
dZC7
SIGNATURE: DATE:
PE ITTEE

AN�A
MUM
North Carolina Department of Environment and Natural Resources
Division of Coastal Management
Beverly Eaves Perdue Braxton C. Davis
Governor Director
December 20, 2011
Mr. Gary Carter
32 Pomeroy Drive
Pinehurst, NC, 28374
Dear Mr. Carter:
Dee Freeman
Secretary
Attached is CAMA Minor Development (name transfer) Permit No. OIB 04-16 VR-11, for property
located at 50 Union St., in Ocean Isle Beach, Brunswick County, NC.
In order to validate this permit, please sign both copies of the permit as indicated. Please retain the
gold copy for your files and sign both pages of the white copy then return to us within 20 days of receipt, in
the enclosed, self-addressed envelope.
This is not a valid permit until it is signed and returned to our office
Thank you for your prompt attention to this matter
Sincerely,
` Shaun K. Simpson
Permit Support Technician
Enclosures
cc: WiRO files
Justin Whiteside, LPO OIB
127 Cardinal Drive Ext., Wilmington, NC 28405
Phone: [phone] FAX: [phone] Internet: www.nccoastalmanagement.net
An Equal Opportunity 1 Affirmative Action Empbyer
Noe Carolina
4=1111

(Cl-4C TFSLJCTIIOleT
6934-9 Beach Dr. SW CUSTOM BEACH, MAINLAND, AND GOLF COURSE HOMES
Ocean Isle Beach, NC 28469 November 3, 2011
Ms. Holley Snider
CAMA Officer
127 Cardinal Drive Extension
Wilmington, N.C. 28405-3845
Re: 50 Union Street, Ocean Isle Beach, NC 28469
Transfer of CAMA Permit/Variance
Dear Ms. Snider:
Gary Carter and Jim Watson, Carolina Bank, wrote you a letter on October 25, 2011,
wherein they requested a transfer of the VanStory CAMA Permit/variance on the above
mentioned property into their names.
910-575-7100
Fax [phone]
I am the builder that will be building the new home for the owner once the CAMA
Permit is properly in place. The owner and I have gone over the footprint previously
approved by CAMA, and the owner states a smaller home would be satisfactory too,
therefore on behalf of Gary Carter, and Jim Watson, Carolina Bank, I am respectfully
submitting a second footprint that's smaller for CAMA consideration for 50 Union Street,
Ocean Isle Beach, N.C. 28469. Either the original footprint or this smaller footprint will
be acceptable to us.
Thank you for your kind consideration and should you have any questions regarding this
matter, please feel free to call me directly on my cell phone [phone] or office
[phone]. You can also reach me by email at blueh2o c atmc.net .
Very truly yours,
Scott uaintance
O._ 6 ) NOV 0 3 2011

&AA
Martha .fee Reacty
6934 Beach Drive SW, Suite 3, Ocean Isle Beach, NC 28469
[phone] • Fax:[phone]
G� L l„
Doo
www.oceanislebeachrealestate.com • www.bmnswick-county-real-estate.com

qkartha �ee
6934-3 Beach Drive
Ocean Isle Beach, NC 28469
Telephone [phone]
Fax [phone]
www.holdenbeachrealestate.com
1. `�i`_.� . _
11
SCAN TO
RECEIVED
OCT 2 6 2011
F)CM WiLtONGTON, NC
hall sk;�! JeAx .,q of
) (email addr ss)
SCAN TO:
(name) (email address)
SCAN TO:
(name) (email address)
"V L
You should receive 1 4P page(s), including this cover sheet. If you do not receive
all the pages, please call [phone].
M
CONFIDENTIALLITY NOTICE
This information contained in this scan transmittal is privileged and confidential for the address ONLY. If you are
neither the intended, nor the employee or agent responsible for delivering this message and information to the intended
recipient; any disclosure of this information, in any way, or taking of any action in reliance on this information is
strictly prohibited. If you have received this scan in error, please notify the person transmitting the information
immediately '

Mr. Gary Carter
32 Pomeroy Drive
Pinehurst, N.C. 28374
and
Jim Watson
Sr. Vice President
- Carolina Bank
101 North Spring Street
Greensboro, N.C.27401
October 25, 2011
Ms. Holley Snider
CAMA Officer
127 Cardinal Drive Extension
Wilmington, N.C. 28405-3845
Re: 50 Union Street, Ocean Isle Beach, NC 28469
Transfer of CAMA Permit/Variance
Dear Ms. Snider
RECEIVED
OCT 2 6 '2011
t3Civ', ,lfli.a{tiP31�{;C
Mr. Richard L. VanStory, previous owner of the above -mentioned property, went through
survey in 2003, and a very lengthy and costly legal process to obtain a CAMA
Permit/variance. We understand this Permit has not expired. We have enclosed the
footprint approved by CAMA for Mr. VanStory, which was supplied to us by Larry
Cook, Ocean Isle Beach Building Inspector.
We are also enclosing a footprint submitted by Gary Carter and Carolina Bank, which
shows footprint of house to be built by Carolina Bluewater Construction, and shows we
will be working within the previously approved VanStory CAMA permit, and there are
no modifications or changes.
Mr. VanStory suffered financial setbacks that caused the lot at 50 Union Street to be
foreclosed on recently by lender Carolina Bank. Carolina Bank and Gary Carter have an
accepted "Offer To Purchase Contract" (cash sale), with the intention of this property to
be for a beautiful private residence. We are all excited about this house being built as
quickly as possible; however realize CAMA holds the key to this dream All the
stipulating facts relating to this property when CAMA Permit/vadance originally
approved have not changed. We are respectfully requesting the VanStory CAMA
Pennit/variance be transferred to Gary Carter and Carolina Bank, who have the sole legal
right to request same. We have enclosed copy of the accepted Contract.

Page 2.
Carter & Carolina Bank Transfer Request
You can reach Jim Watson, Vice President, Carolina Bank at telephone [phone],
and by email at Lwatson ,carolmabank.com. You can reach Gary Carter at telephone
336-269-2864 and by email at Wcarter( pcxr.com. You can reach our builder and
Engineer, Scott Quaintance owner of Carolina Bluewater Construction at 910-279-4590
(cell) or office phone [phone], and whose email address is blueb2ong,atme.net .
We greatlyappreciate your review and kind consideration, and look forward to hearing
from you soon.
Sincerely,
Sincerely,
im Vatson, Vice President Gary Carter
Carolina Bank
L
in•

PC
PO

2 � 20ii
OPBER TO PDRCE ASIE AND CONTRACT - VACANT LOT/LAND Oct
(Consult"Gufdelmes" (form 12G) for guidance in completingtvs faro!)
art i1[tV�C;sitt`4, 3�4C
NOTE: This contract is intended for uabriproved real property tint Dow will pmuhase onlyl%ip' eisOna.. a and does net have
immediate plants to subdivide. It should not be used to sell property that is being subdlvlded unless the pmpmV ban been platted,
properly approved and recorded whit the register of deeds as of the data of the Contract If Seller is Buyer's builder and the sale involves
the Construction of a new single family dwelling prior to closing, use the standard Offer to Purchase and Contract —New Construction
(peat $00 7) car, if the Construction is Completed, we the OMr to Pnrcbnm and Contract (Form 2-1) wi& the Now Caaahnction
Addaadum (Form2A3-T).
For valuable oonsidecalion, the receipt and leg eaffioiency of which act'; hereby aclmowledgod, Buyer offers to purchase and Seller upon
acceptance agrees to sell and convey the Property ontm terms and conditions of tins OfforTo Parohaao and Contract and any addmdum
ormodification made hi accordance withits [eons (togotherthe "Contract").
L TE MS AND IMMITTONS: The tams listed below sbat have tho respective meaning given them asset forth adjaomt to each
term
i
(a) "Seiler": camolina. Bank
(b) 'Bayer": Gaze S ammter, Dickia M Cartex
)
(o) "Property,,: The Property shaIl include all that real estate described below together with all appurtenances thereto including the
City; 0aean Tsla 3aaah NC Zip; 2"
County. Brunswick ,NOrikCarolfna '
(NOTY: Govemmexadmthadt5rovertaxes,zoom& school distnota,utditiwand marldelivotytrwdif wfrom address dam)
LegalDesctipdom(Campleto6LL applicable) .
PlatRefxrenca:Lo nit 56 ,Block(Secrtion Canal 8 ,Subdivision/Condominium section S-S&E
,assbovmoaMaiBooklSlide if atPage(s) 374
TbaPDJ/P1Doratharidaettfication oftbePrepertyis 244PL056
Otter dwariptoc; Beina all of Sat 56. Ca..�t 8n eeat:ion S-SS$ recce clad Plat hook N Pane 374
Somoarallof6cPmpertynWbedesanbedinDeedBook 5173 atPage 22
(rt) "Purchase Price":
$ 400,000.00 paidiaU.S.Dollars upowhofollowh)gtems:
$ x/A BYDUEDlI10WC6FEE madepayable toWerbytbeliffeadveDate.
S 5,000.00 BY DUTTAL RARIMT MONEY DMOS1T idade payable to Escrow Agent named
iaParagraphl(f)[]withddsoft'hrOR0delivered wlddn five (5) days of the
Rffi:omeDateofthisCCatractby 0cash ❑personal check Qofficiat bank check
El tcansfor
$ x/a BBY(ADDrM1M) EARNEST MONEY DEPOSIT rondo p�] e toEscrow Agent
named in Paragraph l(t) by cash or imr"nHately available, (mule such as official bank
check or whe transfer to be delivered to.. Bsorow Agent no later then.
1W1iJII2VG0.P'288.888isIIrCE with
regard to said date. .
$ x/r BY ASSCRvBTION of the unpaid prinapal balance sod oil obligations of Seller an the
odatiag loan(s)eecuredby a deed Ofttust on the Prvpertyin accordance with the attached
I.oanAss®pnoa A>lrTm,d'mA (StandardPorm2t16-TTSj
$ R/A (B(ggYYpLr�S.ER PINANCM ffi accordance with the attaebod Seller Financing Addendum
$ 295,000.00 BALANCSmthePPurchase Price in cssh at Settlement (some or allofwhich maybe paid
witLthepuoeeds ofanewloar .
Should Buyer fur to deliver either the Due Diligence Pee or any initial Money Deposit by &ch: due dates, or should• any
cfieck or other feuds paid by Buyarbe dishonored, for any reason, bythe Irradiation upon which The payment is drawn, Buyer shall
have one (1) banking day after writtft notice to deliver good Surds to the payee la the event Buyer dcec not Timely deliver good
Surds, Seller shallhave lherl&to terminate this Contractuponwuttenrotice tC Buyer: .
I of 9 �,
This farm jointly approved by: Page�,�� STANDARD FORM VTNorth Carolina Bar Association � — . Revised 7f2011
leNTIR-North Carolina Association of REALTORSA In ry ® 712011
Buyer initials Seller inita
MkNnraRMyCpmpmy3369 Hatimaee 58nWaoldw BmdyNC38462 W`. AltIf C010)846,UM raw. 040046,343 thnDW
S.Wnr,rae RnGn>.A Wrh�inF yen Fv+Wrvtl,,>nM Rllwnf.Fln R>nA A+n+W�JnztdHA>A uuv,>InlmG nun

OCT 2 6 2011
(e) "Earnest Money Deposit": The rnfdal iiamrst Money Depot, the Additional EaAm'�ast�92piiey:DeggsiGmYd'eay, o earnest
monies paid in connection with fills transaction, fiereinal}er collectively refctad in as "Eamcst Money Depost",�Il'be sited
and held in escrow by Escrow Agent until Closing, at which time it will be credited to Du ye; or until this Contract is otherwise
temilaatad. In the event (1) 8da offs is not accayted; or (2) a condition of nay xesniNng eontect is mE satisfied, Ales the Eernast
Money Deposit stall be rafimded to Boyar. It the event of breech aPthis Contract by Salle ,Aye Earnest Money Deposit aball be
refunded to BiryervpouuBuyers mgnest, bat sack retain shall not allot say otter ramedles available to Buyer forsuch breaoh lathe
event of preach of this Contract by Buyer, the Bonita Money Daposit ®ball be paid to Seller upon Sellers xegaest as liquidated
damages and as Sellars sole and exchwive remedy fir gucb.breach, but without Sellefa'rigbta under Pamgrapba 2(c) and
2(d) far damage to the Property or Sellers right to retain the Due Diligence Fee. It is ac ed by die parties thatpayment of
the Earnest Money Deposit to Seller in do event of a breach of Arcs Contact by Buyer is compensatory and rot punitive, such
ama®t being a rossoaable, eaffinafirm of do actual loss fhat'Seller would leant as a result of such breach, The payment of the
Earnest Money Deposit to Seller don not constitute mpeealty orforfcinav but aehud eompansstiou fur Seller's mttivipated loss, both
parties acknowledging the difficulty determining Sellers acted damages for such breach If legal proceedings are brought by Buyer
or Seller against the other to recover the Earnest Money Deposit, the prwai't&ig party in the inumo i¢g shall be entitled to recover
from &e nonprovad7ing pertyreasonable attorneyfeas and court costs incurred in connection wiArttoproceeding.
(t) 'Tti row,Ageat" (mseitmmle}. 1 xtka Laa ILeaZty Comvanv
CNOTBe ra the event of a dispute between Seller and Buyer over the dispostioa of the Earnest Mover Deposit field in escrow, a
licensed zed estate brolmr ("Bmlwr") is required by stata law' (and Escrow Agent; if net a Brubz. luaaby agives) to retest the
Eamest Money Deposit ii rho Escrow Ageufs trust or escrow account until Esmvw Agent has Obtained a written release from the
parties consenting to its disposition or until disbursonwr t is orderedbya court of competentimisdiction_ tlltammadvoly, if aBrokwis
hoIdmg die Earnest Money Deposit, the Brokarmay deposit tho disputeed monies with the appropriate clerk of court in accordance
wilt$topmvisionsofDLC.Ci.5,§93A-12.) ,
-71 (' �' • H: • . • INA, Yr .• M' • • i , :1
1• • i a' f 1 1 rl' ' i • 1 li 1 Ye' 1n•
:1n':• •69 'i • Y:I% •'• i:1 , • :1 i Y YI•J' • •• CI' :Y•`.
Yi •t: • 4f a J• • : f _ • M : Yni Yela! �51YYe
(g) "Effecave])ate11: Tie date Ant: (1) the lost nee of Buyer and Seller has signed or initialed this ofinr orthe final couatereffer, if
any. and (2) such signing crinidatingis comnumicatedto thepartymskiag the offer or cotmteroMr, as theme maybe.
(h) 'Dne Diligence"; Buyer's opportunity during the Due Dftewn Period to investigam Ate Property and the transaction
contemplated by thin Contract including btitnotmeassetly Bout tO the matters dascnbadiaParagtaph 2 below to decide whothar
Buyer; is Buyer's sole diseretiorS will preceedwi0r re terminate tba'fmasactioa
u "Dan DIIfgence Fee": A negotiated anoint; if any, paidbyBuryer to Sellervrith Ails Contract forBuryees right to conduct Due
rliganoe during duo DaeDHig®ne P�iorl It abet! be Ara property o£SeEer npan.die FSf'enAve Date and sball be a credit to Boyar at
Cloning. Tbv Due DIligevo:e Pea shall ba maref�dable except in fin event of a maivrial bleach of tfits Contact by Bolter, orif this
Contract is teamvnatedmdarPatagraph 6(I) orParagraph9, or as ottelwise pmvid.-din anyaddendamh�eto. Buryer and Seller meh
e?gtirasly waive au{y vigbt that firay naghtrva re deny the rigid m conduct Due Diligence or m assert any riefvnso as m he
enforceability of this Contract based on iha absence; or sIIagad faaafficieacy of any Din Diligence Pee, it being the itimt of tho
parties to create a lagalty binding contract for the purchase and Salo of the Property without �egard>A the vxistanba or amotunt of any
DnaDiligance Fee.
�} 'Dee Diligence Period": The period beginning on the Efffictive Date and extending daoagh 5:00 pm on
Novawber 4, 2011 72MNBMffGOFTEUMSWC9 with regard to said data.
0 "SettlenumVI:ThaproperI. mutionanddekiaerytofiesettlementaftofalidocuments ueasserytocomplete thetaroactlon
contemplated by this Contract iacluding the deed. Battlement stammenr, deed of trust and other loon or conveyance documents, and
the settlement agent s receipt of ellfuada neeessaryto complete such transaction
(n "SettlemeatDate": The parties agreafut Settlementwill take place on Rov®nbar 17, 2011 (die°Settlement Date"),
unless othemiso agreed in writing, at a time and place desWintedbyBuyer.
Paget of9 ,Q(�
Bayer initials Sell
rroeuea"w,iror,.a,astadastr rsmowtrsn rfleand,rmr��amsatm�saaa
STAPIIIARD FORM 12-T
Revised 712011
0 7/2011
untidei

"Closing": The legal process Vlach rosubs intransfer&a transfer of title to the Property from Seller to Buyer. Closing includes the
llowing steps: (1) the Settlement (de&ned above); (2) the completion of a satisfactory title update to the Property following the
Sotdsmeo4; (3) the settlement agenfs receipt of autirad2ation to disbuse all necessary f =b; and (4) tecordation is tho appropriate
county registry of the deeds) and deeds) of trust, if any, which sbaB tales place as soon as reasonably possible for the settlement
agent after Settlement Upon such recordation ofthe deeds) and deed(y) of trust, if any, Closing shall be deemed completed and the
proceeds of sale aball be disbacsedby the settlement agent in accordanco withthe settlement statement and the provisions of Chapter
45A of the North Carolina Crenerd Sftt hMm if am title vpdato sbould reveal unexpected liens, encumbrances or othertide defects, or
if the sowemeat agent is not sntborizod to disburse all naoosmy funds, then the Closing shall be suspended and the Settlement
damned dolayedunderparagrsph l0 (Delayin Settlemon.UClosing). .
(r) "Special Assessments": A charge against thePropertybya governmental authority fit addition to ad valorem tnxea and recurring
governmental service fees levided web, sunk taus, or by en owned assomadon in additianto my rcgoler as csamnt (daces), tither
ofv'Wzhmaybe aRon. against the Property. A Special Assessmeatmaybe efther proposed or confrrmrA
Proposed Special Aasessmeur. A Special Assessment diet is under formal consideration but winch bas Oct been approved prior
to Sotdommit
"Confirmed Special Assessment": A Special Mamsmont that has been approved prior to Settlement whether or not it is folly
payable attire ofSettlemamt
2. BUYER'S DUE DXLXGENCEPROCESS:
(a) Loam: During the Due Driligevee Period, Buyer atBuy&s mTeuso, shaII be entitled to pmsme gnalifivatfou for and approval of
&aI" aifany. .
(NOTE: Buyer is advised to consult Vith Buyer's lender prior to signing this offer to assure that the Due Diligence Period allows
sufficient than for the appraisal to be completed and fbrBuyers leader to provide Buyer smffrm ant iafnmtation to decide whether to
proceed with or termmste the transacdoasmee the Loanis not a oonMm of the Contract)
(b) Property Xavesilgatfou: Dm®g the Duo Diligence Porl4 R t or Buyeia agents or npmseal8iivts, at Buyerg expense,
shall be entided to conduct all deshed tests, emvaye� epprah6 im'estigatioas, examinations and inspections of the Property as
Buyer deems appropriate, iuclmdmg botNOT ]imftad fo tits wowrog:
() Soi1, UtMttes And Environmental: Reports to determine whether the soil is suitable for Buyers foteaded use and
whether there is any environmental contamination, law, rale or regulation that may prohibit restrict or limit Buyers
mteudeduse. -
CA) Septic/Sewer System Any applicable investigations) to ddramine: (1) the condition of as existing sewage system, (2)
the costs and expenses to install a sewage system approved by as existing $apruvamaaf Pertnif (3) tho availability and
expense to conned to a public or sty sewer system, and/or (4) whether an Xmprovement Permit or W&ODU
evaleationmaybe obtained from the Connly8eal6r nepartmentfnr a suitable gmtmdabsmption sewage system.
(ih) Water. Anp applimable mvestigatiem(s) to datrzmiva: (i) 8e eoudmon of an adsting ptiva2a drial®g water wall, (2) the
costs and expenses to ioshtll a Private dninldgr, wafir waB approved by tm existing Construction Permit, (3) the
avmlebility, costs end expenses ro connect to a public m unity. water system, or a shazed private well, emdlor (4)
whcthera 7=d
aaPc�iEmaybo obtainedfropgtwelL
(iv) RovIewofts: Review of AraDeclmu[ionofReslrictiveCovevams,Bylaws,rkhelasoflvcorpomtion,Rnlesand
ioer govern%qg docnm®fs of soapp]cabdiNebo Property is
tobq am otvnem' associatimn, it i$ mcm�evded that Buyer review the completed Own Associat on
17isdosura AndAddendum (StaadardFomr2Al2-T)provided bySeiler priorto signing this ofFer.
(v) 2pratsa]s:Anappraatdet oPrapexty.
(vt) 9nrvey A suivay to determine whrtfier the
Property is suitable for Buyers intended use sad the �ocat on of easements
setbaolrg, propertybpuadazies end ofbarisvues whiolimay or maynot coastltnta title defects.
(via) Zoning and Governmental Regulation: 7avestlgaYian of carrot or poposed zoning or other governmental regulation
that may affect Buyer's intrmded use of the Property, adjacent land uses, planned or proposed mad coasnnetioa, and
school aMmdance times.
(vilr) snood Hftzard. Investigation of pubmilal flood hazard v on the Property, and/or eny requirement to purchase flood
tasuamm in. order to ob4vn the Loan.
Page 3 of 9
\) l -s STANDARD FORM 12-T
"'
Buyer initialsRevised7/2011 3e r �"_ "' x ® 7/2011
aMdwed Wth2IpFgaObyzIpLP xt6007a Flflegi hWe Raar4Ffi ,WddIMMM �tLwLx st Undtled

.R ice. '0u✓ � V E
OCT 2 6 2011
(c) Buyer's Ohi[gatioa to Repair Damage: Bayer shall, at Btryels expense, Promptly reps$ any damage to the Property
resaltiag.&'om any acovitiea bfBuyer and Bayer'a agents and contractors, but Buyer shall not be responsible for any.dawago caused
by accepted practices applicable to any N.C. licensed pmfras}onal performing reasonable appraisals, tests, surveys, wcaminahons andinspection of the Property. This repair cbligstloa shall survive anytemvnation of this Contract
(4) Indemnity: Buyer vvil( indemnify and hold Seller harmless from all loss, damage, dlaims, suits or costs, which shall arise out
Of any contract,agrl'ement, or rt;7my to ant person or property as a result of any activities of Buyer and Buyer's agents and
oouhaefors elating in the Property ercept for any loss, damage, clams, suit or cost adsing out of pre-cdating conditions of the
hereof and/or out of Sellars negligence orwiBFul acts or amissions This indemn ty shall sarviva tffi Contact and any termination
(e) Buyer's Right to Tarn lmte: Buyer shall have therW2 m twninata this Contract for any reason or no reason delivering to
Seller written notice of temdaafie m (Wo "Te®atiom Notice") during the Doe Diligence Period (or say ag ,T= U ittoa
ex Zion of WeDae Diligence Period), TIddS BMYG OF 2M BSWCH-JfRuyer timaly delivers the TentinafioallotiM this
Coatractsball be terminated audtha EamastMomevDeoosit9hallhe reaendaritnlinwm
WARNING: If Buyer is not satisfied with the results or progress of Bayer's Dee Diligence, Buyer shovtd terminn tds Ceatract
prier to the exptr�inn of the Dire Diligence period , unless Buyer can obtain a written extension from Seller. SELLER IS NOT
OBLIGATED TO GRANT AN EXTENSION Althouglht Buyer may oontmne to investigate the Property following the expiration of
the Due Diligence Period, Buyer's .failure to deliver a Tarmination Nadoo to Seller prior to the expiration of the Due Ihligenoe
Period shall constitute a waiver.by Buyer of Buy right to Unduate this Contact based am any matter ralatiag. to Bnyats Due
Diligence. Provided however, following tho Due Diligence Period, Buyer may still exercise a right to u%mmam if Sellers f & to
marenaHY comply with atry of Seller's obligattozv% under paragmph 6 of offs Contact or fir any other reason pesmitttd imdor the
terms of US Contract orNott carolbalaw
(t) CLOSING SHALL CONSTTIM ACCEPTANCE OR TIM PROPERTY IN ITS THEN B WM- G CONDITION
IINLESS PROVISIONiS OTHERWISE MADE IN WRTI'IlVG.
3. BDXERHEPRESENTATIONS:
(a) Loan: Buyer ❑ does ® does not have to obtain a new loan in miter to purt base iha Property. If Buyer is obtaining a new
loan,Bayecivtendstoobtalualomssfonows., 0Caamnoonal. [IOdw.
loan aT a
[jEitlalfi eDAnotto=eeteintfimpdncipalammmiof for aterm of year(s),at
aniaitialinte¢rstmtanotmoxceed °/,perevama(the "Loath"}.
NOTE. Buyers obligations under this Contract are not conditioned upon obtaining or closing any loan_ If Buyer represents that
Boyer does not lava to obtain a new loan in order to purchase the Property, Seller is advised, prior to signing Was oft to obtain
documentation fiom.Buyer which demonstates'that Buyer will be able to close on the Property without We necessity of obtaining a
nawlomL
(b) Other Property: Buyer l] does [M does not have to sell or lease other zeal property in order to qualify for a new loan or to
complete pumbase. (NOTE! If Buyer does have to sell, Buyer and Seller should consider maluding a Contingent We Addendum
(Standard Porm2A2T) with this offer)
(c) Performance of Bayer's Faaanelal Obligations: To the beat of Bayer's lmowledA there are no other chummstances or
conditions existing as of the date of this offer tbatwould prohibit Buyer from performing Buyer's Snnacial obligations in accordance
wi& this Comtraot, except as maybe specificaIIYset fm$bereia.
4. BUYER OBLIGATIONS!
(a) Owners' Association FewlCharges Buyer shall pay any fees required for confirming account payment infomaoon on
owners' association dues or assessmems fmrpsyment orpmrafion and any charge made bythe owners' associatiem in coaneodoa with
the disposition of the Property to Buyer; iucludlug any transimr and/or document fee imposed by the owners' association Buyer shall
not be responsible for fees incurred by Seller in. completing the Owners' Association Disclosmm mad Addendum (Standard Form
2AI2-T).
(b) Respousibility for Proposed Special Assessments; Buyer shall take title subjeot to all Pmpoaed Special Assessments.
Page 4 of-9
Buyerimitiels Sailer- - 'J��''�"�'jl _
ik—
Hwm®d valaapFamma}'bpWgh 18ata FiMtAeRW,, flaw,Wd0Q2a1Mr iiolo*=
STANDARD FORM 12-T
Revised 712011
® 7/2011
M(ided

E.,CEIV ED
9Ci 2 6 20V
(o) 12eapouer7bntty for Cerfaia Costs: Eimer shall be responsible for all costs with eoftttq laty'1;dpp,,a �d VBnyar,
bpxaisel, title seamb; title insurance, recording the deed and for preparation and racordi YA ivatrumeuts required to aeanre the
Ofttih",O %ePriceuapaidatSettlemont.
5. Brr.i.tra APPRL+&1•;NTATIUPI3:
(a) Ownership: SellerrepresentsthatSeller.
❑ bus ownedftPmpmtyforatlesstoaaymr.
bar owned the Property foriess than one year.
❑ does not yet own.the Property.
(b) Assessments: To the best of Sellers knowledge there are nee Pmpased SpecialAssessmeula except as foAows (insert "None" or
the identfication of such assessmonta, linos); Nonra.known and if arty found w3.7.7. ba paid by ee112r
Seller warrants that Here an no Confirmed Special Assessmeata except as follows (insert "None" or the identification of such
assessment0faay). Nona roots and 1£ unv found won ba -aid by SeIU= at gtnal Closing
(o) Owners"Assodatiou(s)aadDues. To best ofSellefskwwledge,ownersidpoftheProperty ❑subjects Ejdoes not sabject
Buyer to regulation by one or more owners' assooiation(s) and govarning documents, which impose various mandatory covenants,
conditions and reshictions upon the Property and Buyer's enjoyment thereof iaclading but not limited to obligations to pay regular
awesameolfa (does) and Special Ass asmanea, if them is an owners' assooiadoa, they an Owners' Asaooiad= DisoIosara gad
Addendum (Standard Pour 7Al2-T) shall be completed by Selie , at Seller's expense, and mmt be attached as an addendum to 8vs
Contract
(a) Sewage System Permit: Applicable Q Not Appllcablo) Seller iarrants drat the sewage system desodbed in the
hnprovemant Permit attached hereto boa been installed, which rupresentation. seavives Closing, but makes no finther mptrseatations
as to the system.
(e) Private Drdaking Water Well Permit: (❑ Applicable 0 Not Applicable) Sella' warrants that aprivate drW ivg water wren
has been installed, which representation survives Closing, but makes no farther *+rresencnim+= as to the well.
Snly 1, 2008, affi-h 7mprov6ment Peni thereto. (Ifwell installed after
6. SELLER OBLIGATIONS:
(a) Evidence of 1Yfle: Seller agrees to use best efforts to deriver to Buyer as soon as reasonably .Vocable aft the Effective Data,
copies of all title information in possession of or ava*ble to Seller, including but not limited to: title insurance policies, attomey's
opinions on fide, surveys, covenaras, deeds, Woks and deeds oftmst, leases, sad easements minting to the Property. faller Autborius
(1)anyattameypmsentlyorFbmvieusleln such a ttomaysMeto
Buyer and both Buye2s and Sener'a agents and attorneys; and (2) rho Property's tide roarer or its Pommy in
agent to release s and togse eI1
materials in theProperty'stitle insurers (ortitlo insurer's ergvaYe) Ste to Bnyarabrd bodrBayar's and Sellers agents and atorneyv.s.
(b) Access to Property/Walk-Through inspeetton: Seller shall provide reasonable access to the Property (maludmg woddng,
eodsting utMw) through tho earlier of Closing or possession by Buyer, including, but not limited to, allowing the Buyer an
opportunity to conduct a End walk tbmugh inspection of the Property. To the extent applicable, Seller shall also be responsible for
timely clearing that pord0a. of the Propertyrequired by the tttwwLLyy to perform tests, inspeetioua and/or evaluations to determine the
suitability of the Propertyfara sewage system and/orprfitffiadrinWog water well.
(o) Removal of Seller's Properly: Sallar shall remove, by the data possession is made available to Buyer, an personal Property
which is notapart of the purchase and an gadne and debris from the Property.
(eg Affidavit and Indemrdflcation Agreement: Seller shall finish at Sottiemeut an affidavit and indemniScation agreement in
Sum satiafaetpry to Buyer and Buyer's tide insurer. if any, executed by Seller and any person or entity who has performed or
famished labor; sexvices, materials or rental equipment as described inRCGG.S. §44A 8 to the Property within 120 days priorm the
date of Settlement verifying that each such person or entity has beeapaid in full and agreeing to indemnify Breyer, Buyer's lender(s)
and Buyrr's title insurer against all loss Sum any cause or clamt adsiu$thereftom.
(0) Payment and SatiS&ctlon of Liens: All deeds of t=4 deferred ad vahnom taxes, liens and other charges against the Property,
not assonred byBuyey mustbe paid and satlsSed by Sellerpricrtn or at Settlement such that cancellation may be promptly obtained
following Closing. Seller shall remain obligated to obtain any such cancellations following Closing.
Paq»�e 5 of9
STANDARD FORM i2-T
Revise7/2011.
Buyerinitials Sa011i�'re��p,�`' 07/2011
P4n1u -QtePFb11rIDaraae0ar< IBM Finn MR04F ,M � vmw.Habnabx IFrwA

RECEIVED
' .r� OCT 2 G 2011
(i) Title, Legal Access: Seiler sludl =cute and �•fnffi,'P&. WARRANTY DEED for the Property at Settlement aulass
would be revealehdmem, which shall convey Se simple mar&etable and insurable title, &ea,o� dafgoty �lgcIL
try a cement and aecutate smvay of the Property; except: advalorem taxed " orauth
the date of Settlement} utility easemems andumriolated restrictive covenants that do not materially affect the value of the Property;
and such other eocumbrancaa as maybe assumed or specifically approved by Buyer in writing. The Property must have legal access
to a pablic right of vay. NOTE: Buyer's feilme to gate this Contract ior to the expiration of the Due Diligence Period as a
result of any ewmft aoce or defect that is or waald Have been revealed tide examination of the Property or a current and
accurate survey sluff not mlieva Seller of my obligatinn undmthis subparagraph.
NOTE: If any sale of the property may be a "short mie," consideration should ho given to attaching a Short Sale Addendum
(Standard Form 2AL6 T) as an addendum to this Contract.
(g) Deed, Excise Taxes: Seller shall pay, for preparation of a deed and all other documents necessary to perfona Seller's
obligations under tbis Contract, and fnr Ante and cmmtyexeiw tuxes requuedby law. Tire deed is to bamade to: As can
BUVwc's Closina Attoxnev
(h) A.®reementinPagBrger&zpanses:SeIlarahallpayat5ettieaae¢t$ —0— toward any ofBuyees
expenses =aciated.withthe pmhase ofthe Properiy, leas any portion disapproved byBuyee haute:
NOTE: Examples of Buyer's expenses associated with the purchase of &a Property include, but are not limited to, disoeent pothts,
loan origination fees, appraisal fees, attonaWs fees, inspection fees, and "pro-paids" (taxes, insurance, owners' association dues,
eta.).
(i) Payment of Cunllrmed Special Asgesauumts: Seller shall pay all ConS®ed Special Assessmevis, if any, provided that the
annoumtthernof eanbe reasonably dined or estimated.
6) Late Listing penalties: Anpropertytax late listing penalties, ifmv3 shall bspaidbySeller.
O�e'Assocktlon Disclosure and. ciaGonDisclosere endAddmilmtado timer efine dteE koeveData applicable, Seller shah[ provide the completed
(b Seller's Failure to Comply or Breach: If Seller fats to mater<1IIv comply with auy of SeBe's obligations under this
araaa<aph 6 or ScHer y branches this Contract, and Brayer e1e ft io t r mrate this Contract as a result of such failure or
breach, then the Earnest Money Deposit and the Due Diligence Fee shall be rufnaded. to Buyer and Seller shall leimburee to Buyer
the reasonable costs actually incased by Buyer in connection with. Buyers Due Diligence without affecting any other remedies. if
legal proceedings are brought by Buyer against the Seller to recover the Eames[ Money Deposit, the Due Diligence Pee and/or the
reag6mRue costs actually ineurred by Buyer in connection with Buyer's Due Diligence, the pwvdl mg party in the proceeding shall
60 entitled to recover from the nonprtvailiun; party reasonable attorney fees and comt costs incurred in connection with the
proceeding.
7. PRORATIONS AND ADJUSTM&1WTS: Unless otherwise provided, the fallowing Fame aball be prorated through the date of
Settlement and eit6nc adN3ted between lhaparties orpaid at Settlement
(a) Taxes on heal Property: Ad valorem taxes and recurring govemmantal service fees levied with such taxes on real property
shall beprorated on a caeadaryearbask
(b) Rents:Rem%ifany,f3r9mPmperty;
(c) Dues: Owners' association regular assessments (dues) and oilier Wee charges.
S, CONDITION OE PBOPzist'.TY AT CLOSING: The FropmVmvat ba in sabsmu&dly the same ar better cmd!6cm at Closing as
an the date of this offer, reasonable wear and tear axoapted..
9. RTSIC OF LOSS: The ask of loss or damage by fire or other cssusltyprior to Closing shanbe upon Seller. If the improvements on
the Pmper(y arc destroyed or materially damaged prior to Closing. Bayer may terminate this Contract by written notice delivered to
Seller or Sellers agent sod the Eamest Money Deposit and any Doe Diligence Fee shall be refunded to Buyeu In the event Buyer does
NOT elect to kruimato this Contract, Buyer shall be anWed to receive, in addition to the Property, any'of Sellers insurance pmoeeds
payableon account of tha thion, or destruction applicable to the Property being lnuohased. Seller is advised not to caucal existing
ma c*as the PrepetyvmtH slier coe£rmmg recordation ofthe deed.
10. DELAY IN Sr+a"r'rXe' NTICLOSING: Absent agreement to the contrary in this Contact or any subsequent modifoation
thereto, if a party is unable to complete Settlement by the Settleauwt. Date but intends to complete the transacdoa and is acting in'goad
thM and with reasonable diligence to proceed to Settlement ('Delaying Party ), end if the other party is ready, viiling and able to
complete Set$emeat on the Settlement Data ("IW'otrDelaying Patty") tHeu tba Delaying Party shall. give as match notice as possible to the
Nan fete Sing Perly and sa€tlemenE agent and sbaB ha ontitlad to a inlay in Settlement If 0m parties fail to complete Settlement and
Chasing within foutieet (14) days of tits Settlement Dale or to furdrer extend the Settiemrmt'Dabo by written agreement, then the
Delaying Party shall. ba is breach sad thallon-Delaying Party may temrinatu this Contract cod shall ba entitled to enforce any remedies
avelsbkto snchpsitynnderthis Contmctfortheluearlr. .
age 6 of 9 STANDARD FORM 12-T
J�/, •y)„ Revised 712011
$nyerimtials ®7/2011
Reduced vAN NpFo�m0➢Y>tareefR ie07a FlM1eon ills eue4 Fra+w. MreNpen-0Aa78 rew.9 . MU, Untried

T;;E 41' E D
OCT 2 S 2011
11. POSSBSSION: Unless otberwfae provided hemi% possession shall be delivered at ClosmR •{To alter�t- t�dns;( boas, true or
vegetatlonremowatorottersuch activities maybe done before possessioniadelivereEW(,M v 041, ,•.
12. 01}' PROVISIONS AND CONDITIONS: CHECK ALL STANDARD ADDENDA THAT MAX BE A PART OF THIS
CONTRACT, IF ANY, AND ATTACH HERSTO. 11EMM ALL OTHER ADDENDA TO THIS CONTRACT, IF ANY, AND
ATTACHBERETO.
NOTE: UNDER IdOM CAROLINA TAW, REAL ESTATE BROKERS ARE NOT PERMTED TO DRAFT CONDITIONS OR
CONITINGEN= TO TEES CONTRACT.
❑ Additional Provisions Addendum (Form 2A11-T) ❑ Loan Assumption Addendum (Form 2M-T)
❑Back-Up Conlra&Addendum(Form2A1-T) ❑Owners'AssooMonDisclosure AndAddendan(Form2Al2-T)
C] Contingent SaleAddendem(Fan2A2-T) OSellerPinancingAdd=&ii (Form2A5-T)
NI OTHIM, This is a Bank owned Prcoerty and w311Ibee deededdto xBur a bye"apeai a.L Warranty
Deed"
13. ASSIGNMENTS: This Contact'may not be assigned without the written consent of all parties except in convection with a tax -
deferred exchange, butif asaigaed by sgraemen� then this.Conftect sball be binding outhe assignee and assignees hairs and successors.
M TAXDEF&RRED E%C,H.ANGE: In fhe event Buyer or Seller desires to effect a tax -deferred =Change in connection with the
conveyance of the Property, Bayer and Seller agree to cooperate in effecting such exchange; provided, however, that fhe exchanging
party shall be responsible for all additional costa assodated.with such exclumM and provided iwd=, that a ron-mbanging party shall
not assume any, additional liability widx respect to ssch ter -defend ewahanga Buyer and. Seller Shall execute such additional documents,
ivcludivg assignment of five Contact in coaneoam, ffimm ifh, at no cost to the noamxehmging party, ere shall be required to give effect
to thisprovlsion.
15. PARTIES: This Contract shall be binding upon and abet! imrre to the benefit of Buyer and Seller and their reVeofive heirs,
successors and assigns. As used herein, words m the singular include the pima! and the masculine includes the fimniffire and m err
Bendel, as appropriate.
16. SURVIVAL: If sny provision herein contained which by its raft ae and effect is required to be observed, kept or pedormed after
therfrClosing, it shall survive the Closing and remain binding upon ead for the benefit of the parties hereto until folly observed, Impt or
17. L+NTIRE A.GREUMENT: This Contract contains the mtke agreement of the paties and there ere no Representation%
inducements or other provisions other than thoso expressed herein. All "hoes, additions or delefions hereto must be in tenting and
signed by all parties. Nothing cantainai herein shall alter any agreement between. a REALTOM or broker and Seller or Bayer as
coatanrA in eagIistiag agmemea; buyer agmtcy ag„memact or eayotheragevcyageementbotween them.
18. NOTICE: Any notice or communication, to be given to a party herein may be given to the party or to such patty's agent Any
written notice or communication, in connection with the transaction contemplated by this Contract may be given to a party or a par ys
bent by endmnorr transmitting it to any marlfa ing address, a -mail. address or fax number set forth in the "Notice laformatibW section
material part andBuyer agree that the "Notice Enfnrmatioa" and "Escrow Anlmowledgmere sections below shall. not constitute a
p s Contract, and that the addition or modification of any irtf rmation therein shall not constitute a rejection of an offer
or the Qestionofa co®Leroffer.
19. MMCOITON: This Contract may be signed in =W*lo originals or countwparfe, all of wbiah together constitute one and the
same fnstrumeaf, end the parties adopt as their seals the word "SEAL" beside their signatures below,
20. COMPUTATION OF DAYS. Unless otherwise provided, for purposes of Us Ccnntmct, the term "days- shall mean consecutive
calwdardays, Including Saturdays,Stradays,antiholidays,whetherfederal,state, local ormliglonsForthepurposesofmlcl-fly days,
the count of "days" shall begin on ilro day followidg the day uponwbich any act ornotice as provided in this Comxactwas required to be
'pedannedormade,
CPage 7of9 �n
Buyerinitials Salter'
PNduced MNNOFarm®MrtAln95r iBare FOtemlMe Rued, Fm,er, 49dJgen 40U1e now Neteob rem
STANDARD FORM VT
Revised 712011
0Mon
U,roded

eV ED
THE NORTH CAROMIA, ASSOCMnCX OF REALTORS4p, INC. AND THE N0 .4R�0SYil A7' y ;, T7 7 &
NO REmm'MITATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF Th� ;;p n p,NY
SPECIE!CTRANSACTTOI'LIFYOUDONOTUNDERSTANDTHISFORM ORFEEI THATITDOES NOTPROVIDEFOR YOUR
LEOALNEEDS, YOUSHOUiD CONSULTANORTHCAROLINAREALMATEATTORNEYBEFOREYOU SIONIT,
ThusoffcrshaRbwnm mbbuHngconb=tonthe EfiacavcDate.
Date: A f I IIam: 1
(SEAL)Seller
Buyer Gazy I. tar C Pank !!! (SEAL)
�ate�(z /30/r
Dana:
Seller
n dcic ari (SFAL)
Date:
Dam:
Buyer (SEAL) Seller
(SEAL)
Pago 8 Of9 STANDARD FORM 12-T
Ravhsed 7/2011
© 712011
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Unn?drd

NOTICE 1NPORMATION
(NOTE: WSE.RTUMADDRESS AND/ORIrS$CMMC DELIVERY ADDRESS• EACHPARTYAND AGENT APPROVES FOR
TEE RECEIPT OF ANY NO= CON MaLAMR) BY TB1S CONTRACT. INSERT 'MUA" FOR ANY WHICH ARE NOT
APPROVED.)
BUZ=N017CT ADDRESS:
MailmgAddcess:
BuyerFea#:
Buyer&mail•
SELLINGAGENT NOTICE ADDRESS:
FhmtName:marth- Zee Realty Co. (01B office)
Acting as0 Buyeef Agoat)] SeW9 (sab) Ageat[]Daal Agnnt
h"lb3 Addmse: 6934 AeacL Ds, Suite 3, oceau ia70,
Oaeea Isla Beach, RC 28469
indwidcal SellmgAgtnt Martha D. rce
❑ Ardag as a DeaignatedM4 Agent (check oD(y if applicable)
License #:20875
ScftA9aAPhana#: [phone]
Selling Agent Fax#: [phone]
Soft AgcntE-n$:aatiraeaa-
ATE NOTICEADDRESS:
MaffingAddress:
wer.vwt*
Sellerl maffi
l STMGAG�/E�NTNOTICEADDRESS: ��,,
FirmT1G'Name: M4 Lo;fl`;ipftS2C'+4A
Acting m D. SaEefs Agent 01%alAgent� f
Mailiu¢Addrm:
Iudividn9Lia*Agent: FFCcdau /tlhi-r
0 Acting asaDesigwtedDusl�Agent(cl=Tconlyifapp cable)
Listing Agent Fan#:
ESCRAWACSNOWLlWQV E;NT OFINMAL,EARNFSTMONEY3MOM
Escrow Agent aclmowledges receipt of the ItMal Earnest MoneyDepodt and agrees to hold and disburse the some is accordance
w1th the terms h�iterenf. o
Date edZJJ 4AA124 If F)m:: Ya tha Lee Realtm Com
C/'
• (Printa�e)
7
Ll h1� tN�L�ja?tip§. -foM. Nc,
Paga 9 of9
STANDARD FORM 12-T
• Rovdsedl/2011
©712011
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CAROLINA BLUEWATER CONSTRUCTION
Custom Beach, Mainland, and Golf Course Homes
Complete Design / Engineering / Building
6934-9 Beach Dr. SW, Ocean Isle Beach, North Carolina 28469 [phone]