SW3150102_HISTORICAL FILE_20150511

STORMWATER DIVISION CODING SHEET
POST -CONSTRUCTION PERMITS
PERMIT NO. SW
DOC TYPE ❑ CURRENT PERMIT
❑ APPROVED PLANS
HISTORICAL FILE
COMPLIANCE EVALUATION INSPECTION
DOC DATEls�/
YYYYMMDD

Operation &Maintenance Agreement S-W3j5©/OZ3�� /ao�
The Retreat at Statesville (apartment complex) l
N<,p O,c
Statesville, NC IREDELL County
Prepared By: Benjamin B. Thomas, PE, West Consultants, PLLC �Fa �
CoverP.a e.. d. •q rx
Maintenance records shall be kept on the following BMP(s). This maintenance record shall be kept in a log in a kn s@t to 'd,
Any deficient BMP elements noted in the inspection will be corrected, repaired, or replacedimmediately. These deficie s.cen
affect the integrity of structures, safety of the public, and the pollutant removal efficiency of the BMP(s). •,,
The BMP(s) on this project include (check all that apply &
Bioretention Cell
Quantity:
Dry Detention Basin
Quantity:
Grassed Swale
Quantity:
Green Roof
Quantity:
Infiltration Basin
Quantity:
Infiltration Trench
Quantity:
Level SpreaderA/FS
Quantity:
Permeable Pavement
Quantity:
Proprietary System
Quantity:
Rainwater Harvesting
Quantity:
Sand Filter
Quantity:
Stormwater Wetland
Quantity:
Wet Detention Basin
Quantity:
Disconnected Impervious Area
Present:
Soil Amendments
Present:
O&M tables will
Location(s):
Location(s):
Location(s):
I acknowledge and agree by my signature below that I am responsible for the performance of the maintenance procedures listed for
each BMP above, and attached O&M tables. I agree to notify NCDENR of any problems with the system or priorto any changes to
the system or responsible party.
' Responsible Party: Sari and Associates NC, L
Title & Organization: Owner
Street address: 463-1/2 Carolina Circle
City, state, zip: Winston-Salem, NC 27104
Phone number(s): 336d99.1993
Signature: // ///'I`` Date: I / Z/Z-O 15-
1, J7� 4SA ���- C [�� )I t4�Lh a Notary Public for the State of Snf f h PQ1'r,)fr1Q
County of fl do hearby certify that R � C i OM i n 0
personally appeared before me this day of pr\uacq 0 2 C)S and
acknowledge the due execution of the Operations and Maintenance Agreement.
Witness my hand and official seal, ��_i T�2p r. �� l; iQ)ton
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The wet detention basin system is defined as the wet detention basin, pretreatment including forebays and the vegetated filter if one
is provided.
Important maintenance procedures:
Immediately after the wet detention basin is established, the plants on the vegetated shelf and perimeter of the
basin should be watered twice weekly if needed, until the plants become established (commonly six weeks).
_ No portion of the wet detention pond should be fertilized after the first initial fertilization that is required to
establish the plants on the vegetated shelf.
Stable groundcover should be maintained in the drainage area to reduce the sediment load to the wet detention
basin.
If the basin must be drained for an emergency or to perform maintenance, the flushing of sediment through the
emergency drain should be minimized to the maximum extent practical.
- Once a year, a dam safety expert should inspect the embankment.
After the wet detention pond is established, it should be inspectedonce a month and within 24 hours after every storm event
greater than 1.0 Inches (or 1.5 Inches If in a Coastal Countyl Records of operation and maintenance should be kept in a known
set location and must be available upon request.
n ioyowwn.eurwues snail De pertormed as follows. Any problems that are found shall be repaired immediately
BMP element:
Potential problem:
How I will remediate the problem:
The entire BMP
Trash/debris is present.
Remove the trash/debris.
The perimeter of the BMP
Areas of bare soil and/or
erosive gullies have formed.
Regrade the soil if necessary to remove the gully, and then plant a
ground cover and water until it is established. Provide lime and a one-
time fertilizer application.
Vegetation is too short or too
long.
Maintain vegetation at a height of approximately six inches.
The Inlet device
The pipe is clogged.
Unclog the pipe. Dispose of the sediment off -site.
The pipe is cracked or
Replace the pipe.
otherwise damaged.
Erosion is occurring in the
swale.
Regrade the swale if necessary to smooth it over and provide erosion
control devices such as reinforced turf matting or riprap to avoid future
problems with erosion.
Stone verge is clogged or
Remove sediment and replace with dean stone.
covered in sediment (if
applicable).
The forebay
Sediment has accumulated to
a depth greater than the
Search for the source of the sediment and remedy the problem if
possible. Remove the sediment and dispose of it in a location where it
original design depth for
will not cause impacts to streams or the BMP.
sediment storage.
Erosion has occurred.
Provide additional erosion protection such as reinforced turf matting or
riprap if needed to prevent future erosion problems.
Weeds are present.
Remove the weeds, preferably by hand. If pesticide is used, wipe it on
the plants rather than spraying.
The vegetated shelf
Best professional practices
Prune according to best professional practices
show that pruning is needed t
maintain optimal plant health.
Plants are dead, diseased or
dying.
Determine the source of the problem: soils, hydrology, disease, etc.
Remedy the problem and replace plants. Provide a one-time fertilizer
application to establish the ground cover if a soil test indicates it is
necessary.
Weeds are present.
Remove the weeds, preferably by hand. If pesticide is used, wipe it on
the plants rather than spraying.
DRM-EZ
lion 1.4 12/3112014
08M Manual
Pane 9 of 4

s w/315-40e o
'The main treatment area
Sediment has accumulated to
a depth greater than the
Search for the source of the sediment and remedy the problem if
possible. Remove the sediment and dispose of it in a location where it
original design sediment
will not cause impacts to streams or the BMP.
storage depth.
Algal growth covers over 50%
of the area.
Consult a professional to remove and control the algal growth.
Cattails, phragmites or other
invasive plants cover 50% of
Remove the plants by wiping them with pesticide (do not spray).
the basin surface.
The embankment
Shrubs have started to grow
Remove shrubs immediately.
on the embankment.
Evidence of muskrat or beaver
Use traps to remove muskrats and consult a professional to remove
activity is present.
beavers.
A tree has started to grow on
Consult a dam safety, specialist to remove the tree.
the embankment.
An annual inspection by an
Make all needed repairs.
appropriate professional
shows that the embankment
needs repair. (if applicable)
The outlet device.
Clogging has occurred.
Clean out the outlet device. Dispose of the sediment off -site.
The outlet device is damaged
Repair or replace the outlet device.
The receiving water
Erosion or other signs of
Contact the local NC Department of Environment and Natural
damage have occurred at the
Resources Regional Office.
outlet.
The measuring device used to determine the sediment elevation shall be such that it will give an accurate depth reading and not
readily penetrate into accumulated sediments.
WefDeterrtiorrPohdDeslnn.SummarV t
WET POND ID FOREBAY
WET POND Normal Pool El.
Temporary Pool El:
other No Clean out depth:
forebay? Sediment Storage El:
Veg. Fitter? No Bottom El:
MAIN POND
Normal Pool El. M
Temporary Pool EIPretreatment
Clean out depth:than
Sediment Storage El:Has
Bottom El:
93.5
94.6
1
90
69
Approved 11149Mtueatof peranit Do"Mantip
Construction in accordance Whh these documents Is
required by the stomrwatst permit. North Carolina
rules require thin ttre stomw+ater system designer
Inspect during onnstruciion: certify conformity with the
plans and spats: and Lenity compliance with the
srormwater rules. (15A NCAC 2H
/ permit #3 50 O Date i3
Gam' r�iC DNision of
Sheet #__--Revision Dzta T�FL.0
ORM-EZ 12/31@014
sion 1.4 O&M Manual
Paae 3 of 4

Pf-4u(9-4
❑ First Submittal ❑
Development/Project
name
Application Completeness Review
I u G w. tt t
Slnl3l�o�0 �
�/ n-s 0 Y
/�ci Date Reviewed:/ r8 /S By Bill Diuguid�
For post -construction requirements, a program will be deemed compliant for the areas where
implementing any of the following programs: WS-I, WS-II, WS-III, WS-IV, HOW, ORW, Neuse
NSW, Tar -Pamlico River Basin NSW, and the Randleman Lake Water Supply Watershed Nuti
I High Densitv Proiects that require a 401 /404 within an NSW reauire 85% TSS. 30% Thl and 30e6 TP rernMfi- I
T&E Species (Goose Creek, Waxhaw Creek or Six Mile Creek Water Sheds): AI/A-�' UJr✓�f
Latitude and Longitude: 3 5. 8 / 93 of 80_ 98?435 W Jurisdiction
Project Address: ce o 10 / rcQ.
Engineer name and firm: 1 q ✓ 13- a sd ousa 1 a -
Phone: _ 5 33—3 o Email: b-4kon,As a's - C • ✓-u/ "'J r. c a
Is the project confirmed to be in the State MSI Stormwater Permit jurisdiction? es or ❑ No Arolrl�050'
❑ Low Density (no curb and gutter) ❑ Low Density with curb and gutter outlets EirHigh Density p Other
1/404 im acts to surface waters, wetlands, and buffers (add language to cover letter and/or add info letter)
ni � Et, LA 4r- 3 . Z %
e'�Check for $505.00 included ' ` �R
[a/ Original signature (not photocopy) on application GoR
a" Legal signature (Corporation-VP/higher, Partnership -General Partner/higher, LLC-member/manager, Agent).
Wig+ kn.r *QW3 ma6,v, _� A-r7L.
If an agent signs the application, a signed letter of authorization from the applicant must be provided which
i ludes the name, title, mailing address and phone number of the person signing the letter.
Copy of property deed showing ownership or control
A 7or subdivided projects, a signed and notarized deed restriction statement
Sealed, signed & dated calculations
a' Correct supplement and O&M provided for each BMP on site (check all that were provided & number of each)
❑ Bioretention
❑ Dry Detention Basin
❑ Filter Strip
❑ Grass Swale
❑ Infiltration Basin
❑ Infiltration Trench
❑ Level Spreader
❑ Permeable Pavement
❑ Restored Riparian Buffer
❑ Rooftop Runoff Management
❑ Sand Filter
❑ Stormwater Wetland
Ill/et Detention Basin
❑ Low Density
❑ Curb Outlet
❑ Off -Site
❑ NCDOT Linear Road
of/Two sets of sealed, signed & dated layout & finish grading plans with appropriate details
;_ Narrative Description of stormwater management provided
X—°— oils report, geotech information provided
Wetlands -delineated or a note on the plans or in the accompanying documents that none exist on site and/or
/ /adjacent property
4/ Details for the roads, parking area, cul-de-sac radii, sidewalk widths, curb and gutter;
5V Dimensions & slopes provided
Drainage areas delineated ❑ Pervious and impervious reported for each ❑ Areas of high density
GfaMP operation and main nance��reements provided
pplication complete [s�gpplication Incomplete Returned MA t- —d (Date)
Comments o_ 1 So i c s
�1 a co r S��i oR
April 26, 2013 Revision, Bill Diuguid

� I( Prepared by: McElwee & McElwee, Auomcys at Law BK 1059PG0535
./'Return to: Grantee 00237 FILED
l IREDELL CCUNTY K
EXCISE TAX $ YO -oa 011130/38 5:00 Pt1
BREIIN D. BELL
NORTH CAROLINA GENERAL WARRAN'ITIJI'M19f Deeds
THIS DEED made this _ day January, 1998, by and between MINNIE GODBEY GILT. by
end through her attorney -in -fact, JANE GILL, WALKER, Grantor and VENTURE PROPERTIES
1, LLC whose address is 924 Main Street, North Wilkesboro, NC 28659, Grantee.
WITNESSETII
That the Grantor, for valuable consideration paid by the Grantee, the receipt of which is hereby
acknowledged, has and by these presents does grant, bargain, sell and convey unto the Grantee in fee
simple, that certain lot or parcel of land situated in Statesville Outside Township, Iredell County, North
Carolina, and more particularly described as follows: raeoELL couarx ac or/ao/ve
11 $50.00
SEE ATTACHED EXHIBIT A n^ratI8
0 1UNA I, PExcise Tax
Estate
D
The property hercinabove described was acquired by the Grantor by instrumlAtIgrecord
211, Page 92 of lredell County Registry.
TO HAVE AND TO HOLD the Grantor's interest in the aforesaid lot or parcel of land and all
privileges and appurtenances thereto belonging to the Grantee in fee simple.
And the Grantor covenants with the Grantee that the Grantor is seized of the premises in fee
simple, has the right to convey the same in fee simple, that title is marketable and free and clear of all
encumbrances, and that the Grantor will warrant and defend the title against the lawful claims of all
persons whomsoever except for the exceptions hereinafter stated.
Title to the property hereinabove described is subject to the following exceptions:
Easements and restrictions of record.
IN WITNESS WHEREOF, the Grantor has set her hand and seal, this _day of January,
1998:
(SEAL)
Minnie Godbey Gill
� A-rt
(SEAL)
Jane Gill Walker, Attorney -in -Fact
STATE OF TENNESSEE
�K 'J ..1 COUNTY
I, .)e.fr �h. A � E , e Notary Public for said County and Stale, do hereby certify that
Jane Gill Welker attorney in fact for Minnie Godbey Gill personally appeared before me this day, and being by
me duly sworn, says that he/she executed the foregoing and annexed instrument for and in behalf of Minnie
Godbey Gill, and that his/her authority to execute and acknowledge said instrument is contained in an instrument
duly executed, acknowledged, and recorded in the office of Register of Deeds in the County of lredell State of
North Carolina on the 16th day of August, 1991, in Book 827, Page 543 and that this instrument was executed .... .
under and by virtue of the authority given by said instrument granting him/her power of attorney. (�p;Q ..
I do further certify that the said Jane Godbey Gill acknowledged the due execution of the foregoi4 ..."J'•.,,
annexed instrument for the purposes therein expressed for and in behalfof Minnie Godbey Gill. q: r� ,•'•, '�
Witness my hand and official seal, this the 1( day of January, 1998.
Notary Public dU0
My commission expires:_o r - _ D r
The foregoing certi to of Gam- , is certified to be correct. This instrument and
this certificate are duly registere at and time . nd in the Book nd Pa own on the first page hereof.
BRENDA D. BELL By:
Register of Deeds for lredell County D uty / Aesistznt cgistc us

BX 1059PGO636
A certain tract or parcel of land containing 76.822 acres, lying and being in Statesville Outside
Township, Iredell County, North Carolina, being more particularly described as follows by bearings
rotated to Deed North - Deed Book 211, Page 92, Iredell County Registry, as surveyed by Russell
N. Vogel, R.L.S., L-3106, on March 18, 1994:
BEGINNING on an existing iron pipe, said pipe being a common corner of the land as conveyed to
M. Winston and Diane C. Mayhew by deed recorded in Deed Book 729, Page 823, Iredell County
Registry, and Kenneth M. Harris by deed recorded in Deed Book 825, Page 327, Iredell County
Registry, and cunning thence with Harris' line South 89° 34' 09" West 1009.81 feet to an existing
one-half inch rebar; thence South 891 36' 59" West 51.80 feet to an existing one-half inch rebar;
thence South 891 36' 59" West 107.84 feet to a five -eights inch rebar on the east side of Fourth
Creek; thence South 890 36' 59" West 23.31 feet to the center of Fourth Creek; thence with the
center of said creek the following eight (8) courses and distances: (1) North 091 36' 48" East 42.99
feet, (2) North 36D 02' 09" West 116.32 feet, (3) North 49' 36' 55" West 155.07 feet, (4) North 69'
02' 20" West 487.68 feet, (5) North 580 24' 43" West 93.31 feet, (6) North 380 08' 58" West 66.37
feet, (7) North 28' 49' 09" West 165.81 feet, (8) North 28' 20' 06" West 347.56 feet; thence leaving
said creek and running with the center of a branch the following thirty-two (32) courses and
distances: (1) North 270 44' 30" East 70.01 feet, (2) North 140 12' 06" West 88.90 feet, (3) North
11* 29' 22" West 57.57 feet, (4) North 000 23' 04" East 39.21 feet, (5) South 86' 00' 39" East 20.95
feet, (6) North 28147' 06" East 63.76 feet, (7) North 200 24' 34" East 135.66 feet, (8) North 700 51'
26" East 10.00 feet, (9) North 201 43' 57" East 174.53 feet, (10) North 22' 04' 14" East 30.60 feet,
(I1) North 240 05' 22" East 156.31 feet, (12) North 380 52' 22" East 91.15 feet, (13) North 080 25'
28" East 22.95 feet, (14) North 270 37' 20" East 38.09 feet, (15) North 66' 39' 33" East 22.82 feet,
(16) North 030 33' 52" East 20.48 feet, (17) North 70' 25' 18" East 28.94 feet, (18) North 811 12'
23" East 54.55 feet, (19) North 82' 35' 23" East 61.86 feet, (20) North 62' 06' 31" East 99.52 feet,
(21) North 38140' 53" East 35.74 feet, (22) North 660 35' 21" East 55.53 feet to a monument set,
(23) North 640 02' 44" East 59.19 feet, (24) North 150 28' 05" West 26.44 feet, (25) North 080 42'
58" East 33.69 feet, (26) North 470 41' 44" East 69.36 feet, (27) South 81° 19' 1 V East 45.05 feet,
(28) North 02' 16' 24" East 47.05 feet, (29) North 30' 29' 52" East 87.89 feet, (30) North 43' 23'
34 West 9.90 feet, (3 1) North 310 40' 04" East 60.87 feet, (32) North 25' 00' 01" East 64.21 feet;
thence leaving said creek South 87° 18' 18" East 13.13 feet to a five -eights inch rebar set; thence
South 871 18' 18" East 1019.14 feet to an existing iron pipe; thence South 01' 04' 43" West 651.75
feet to a five -eights inch rebar set at a fence corner; thence North 870 19' 52" West 488.85 feet;
thence South 020 49 08" West 617.91 feet; thence South 4V 52' 50" East 103.65 feet; thence South
48" 07' 10" West 142.60 feet; thence South 41' 52' 50" East 243.61 feet; thence North 48' 07' 10"
East 192,60 feet; thence South 411 52' 50" East 204.63 feet; thence a curve to the left having a radius
of 305.00 feet and a bearing and distance of South 60° 59' 41" East 199.74 feet; thence South 80'
0631" East 251.87 feet; thence South 03' 39' 10" West 558.41 feet to the point of BEGINNING,
containing 76.822 acres by coordinate geometry.

WEST CONSULTANTS, PLLC
Consulting Engineers and Surveyors
405 South Sterling Street
Morganton, North Carolina 28655
Phone [phone] Fax [phone]
TO NCDBNR - Land Quality Section (Raleigh)
Stonnwater Permitting
1612 Mail Service Center (zip #27699)
512 N. Salisbury Street, 9th Floor
Raleigh NC 27604
WE ARE SENDING YOU X
Shop drawings
Copy of letter
Attached Under separate cover via
Prints Plans
Change order - Other:
LETTER OF
TRANSMITTAL
21121
15
The Retreat at State vg_ille - Statesville, NC (Iredell Co.)
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Specific �ZQC samples
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COPIES
DATE
NUMBER
DESCRIPTION
2
Revised Plans—+rvtwa4a/ 1+pliCu-iis
MAR 0 3 2015 D
DENR - WATER RESOURCES
401 8 BUFFER PERMITTING
THESE ARE TRANSMITTED as checked below:
For your approval
Approved as submitted
Resubmit copies for approval
X For your use
Approved as noted
Submit copies for distribution
As requested
Returned for corrections
Return corrected prints
For review and comment
Other
FOR BIDS DUE/DATE:
PRINTS RETURNED AFTER LOAN TO US
REMARKS
COPY TO
If enclosures are not as noted, please notify us at once.
W00-JCT 13127G USE WI 771C ENVELOPE Deluxe For Business 1-800-225E380 or .neoucom
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WEST CONSULTANTS, PLLC
Consulting Engineers and Surveyors
405 South Sterling Street
Morganton, North Carolina 28655
Phone [phone] Fax [phone]
TO NCDENR - Div. Energy, Mineral & Land Vt��
512 N. Salisbury Street (physical del
1601 Mail Service Center (zip 27699)
Raleigh NC
X
WE ARE SENDING YOU
Shop drawings
Copy of letter
Attached Under separate cover via
Prints Plans
Change order Other:
LETTER OF
TRANSMITTAL
2015
RE:
The Retreat at Statesville - City of
Statesville, Iredell Co.
(Rehab Engineering)
.71
^^ i
Specifications RAY Samples
� Tilgq� c� r�nUNMfNt
COPIES
DATE
NUMBER
DESCRIPTION
btormwacer
1
Plan Review Fee ($505 Pd By Third Wave Housing/Angino)
2
Plans
2
Stormwater Management Calculations
�D
W
JAN 0 9 Z015
DENR • WATER RESOURCES
401 & BUFFER PERMITTING
THESE ARE TRANSMITTED as checked below:
X
For your approval
For your use
As requested
For review and comment
FOR BIDS DUE/DATE:
REMARKS
Approved as submitted
Resubmit copies for approval
Approved as noted
Submit copies for distribution
Returned for corrections
Return corrected prints
Other
1/7/2015
PRINTS RETURNED AFTER LOAN TO US
COPY TO
H enclosures are not as noted, please notify us at once.
PRODUCT 19127a USE WITH nIC EIwELOPE Deluxe For Business 1-800-225-6380 or www.neb .com
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SIGNED
PRINTED IN USA. A
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Corporations Division Page 1 of 1
I
Click Here To:
North Carolina
Elaine F. Marshatt DEPARTMENT OFTHE
Secretary SECRETARY OF STATE
PO Box29M Raldt;h,NO2762 -W22 191g}847-2000 Account
Login
Register
View Document Filings File an Annual Report Print a Pre -Populated Annual Report form
Amend a Previous Annual Report
Corporate Names
Legal: Sari and Associates NC, LLC
Limited Liability Company Information
Sosld: 1352496
Status: Current -Active
Annual Report Status: Current
Citizenship: Domestic
Date Formed: 12/16/2013
Fiscal Month: December
State of Incorporation:
Registered Agent: Sari, James
Corporate Addresses
Mailing:
463 1/2 Carolina Circle
Winston-Salem, NC 27104-3121
Principal Office:
463 1/2 Carolina Circle
Winston-Salem, NC 27104-3121
Reg Office:
463 1/2 Carolina Circle
Winston-Salem, NC 27104-3121
Reg Mailing:
463 1/2 Carolina Circle
Winston-Salem, NC 27104-3121
Company Officials
Managing Member: James Sari
463 1/2 Carolina Circle
Winston Salem NC 27104
Member: Richard Angino
463 1/2 Carolina Circle
Winston Salem NC 27104

4
MEMBER ELECTION
FOR
SARI AND ASSOCIATES NC, LLC
Pursuant to the Operating Agreement of SARI AND ASSOCIATES NC, LLC (the "Company"), a limited
liability company organized pursuant to the North Carolina Limited Liability Company Act, Richard
Angino ("Angino") as a Member of the Company, hereby elects Richard Angino, a North Carolina
Resident to be an additional Manager per Angino's rights in the Operating Agreement. This role shall be
effective September 23, 2014 and shall continue until Angino elects a different Manager.
IN WITNESS WHEREOF, the undersigned, being the Member of the Company, has caused this election to
be duly adopte y the Company.
— lke�
Richard Angino, Member
IN WITNESS WFUEREOF, the un gned accepts the role as a Manager of the Company.
Richard Angino, Individual

AGREEMENT TO PURCHASE REAL ESTATE
This Agreement to Purchase Real Estate ("Agreement") is made effective as of the 30th day of December,
2013 (the "Effective Date"), by and between SARI AND ASSOCIATES NC, LLC, a North Carolina
limited liability company, with a mailing address of 463 1/h Carolina Circle, Winston-Salem, NC 27104
("Purchaser') and VENTURE PROPER73ES I, LLC, a North Carolina limited liability company limited
partnership, with a mailing address of PO Box S43 Wilkesboro NC 28697 ("Sell& ).
ARTICLE L PROPERTY
On the terms set forth herein, Purchaser agrees to purchase from Seller, and Seller agrees to sell to Purchaser,
that approximate 5.25+/- acre parcel, which parcel is a portion of 11.644+/- acres of real property known as
PIN #4745283585.000 which is located qn Solstice Drive in Statesville, h-edell County, North Carolina,
together with all improvements thereon and appurtenances thereto (the "Property") as shown in Exhibit A,
attached. The exact legal description and acreage of the Property shall be determined by the survey
described in Article 3, below. Purchaser intends to develop and operate up to sixty four (64) units of multi-
family housing and ancillary facilities on the Property (the "DevelopmeneD.
ARTICLE 2. PURCHASE PRICE AND EARNEST MONEY
Purchaser shall pay Seller the sum of SIX HUNDRED SDM-FOUR THOUSAND AND 00/100
DOLLARS ($664,000.00) (the "Purchase Price") according to the terms and conditions set forth herein.
Within five (5) business days of the Effective Data, Purchaser shall deposit the sum of FIVE THOUSAND
AND 00/100 DOLLARS ($5,000.00) as an earnest money deposit which shall be applied to the Purchase
Price (the "Earnest Money'). The Earnest Money shall be held in an escrow account of THE
BROCKMANN LAW FlRK P.C., as escrow agent (the "Escrow Agent"), and disbursed in accordance with
the terms and conditions of this Agroement. Within five (5) business days following the earlier of (i) receipt
by Purchaser of a final allocation of sufficient low-income housing tax credits from the North Carolina
Housing Finance Agency, and (ii) September 15, 2014 (whichever applies is to be the "Tax Credit Allocation
Dare"), Purchaser shall deposit the sum of FIVE THOUSAND AND 00/100 DOLLARS ($5,000.00) as an
earnest money deposit which shall be appliod to the Purchase Price. Upon satisfaction of all of the conditions
precedent set forth in Article 3, below, tho Earnest Money shall be non-refundable when paid but applied to
the Purebam Price. In the event the Pureliaser desires to extend the date of closing, the Purchaser shall have
three (3) options to extend the date of closing for sixty (60) days each by depositing an additional sum of
FOUR THOUSAND AND 00/100 DOLLARS ($4,000.00) in each instance as an additional earnest money
deposit which shall be non-refundable when paid but applied to the Purchase Price.
ARTICLE 3. CONDITIONS PRECEDENT
A. Purchaser shall have until September 15, 2014 to conyrlete the following due diligence in
regard to the Property to its satisfaction in its sole discretion:
1. Purchaser's receipt, review and approval of: (a) utility will -serve letters coafnming
that all necessary utilities are available in sufficient capacity to service the Development; (b) an engineering
report indicating that the soil condition, quality, density and bearing capacity are suitable for the
Development; (c) a constnrction company's estimate of costs to construct the Development based on other
due diligence findings, and (d) except as otherwise set forth herein, a zoning letter or report confimhing the
zoning for the Property will allow Purchaser to develop and operate the Development, and that either (i) no
conditional use permit, variance or any other land use permit or approval is necessary for the Development or
(ii) any conditional use permit, variance or other land use pertnits or approvals necessary for the
Development have been obtained.
Seller Z* /Purchaser_ r,

2. Purchaser's deternimation, that any associated impact fees, utility hook-up or tap -in
fees, or any oilier associated development and/or construction related fees imposed by any applicable
governmental authority are acceptable to Purchaser.
3. Purchaser's receipt, review and approval of (a) a standard commitment for title
insurance from a title insurer approved by Purchaser; (b) an environmental report; (c) a boundary survey; and
(d) a flood plain certification and a wetland delineation report indicating that the presence of perennial and/or
intermittent shrmms (and their associated buffers), wetlands and/or floodplains will not impede the
development or operation of the Development; and (e) the cost for any offsite facilities required for the
development and operation of the Development.
4. Purchaser's receipt of all necessary and customary permits from any and all
applicable governmental authorities in order for Purchaser to develop and operate the Development,
including those for all necessary utilities, access, building construction, site construction and off -site
improvements (such as road widening easements and permits from applicable departments of transportation).
5. Purchaser's receipt of a binding allocation of low-income housing tax credits for the
Development from the North Carolina Housing Finance Agency.
In the event any condition precedent in this Article 3A is not satisfied by the date specified in this Article 3A,
Purchaser shall have the right to terminate the Agreement upon notice to Seller and receive a refund of any
refundable Earnest Money, and neither party shall have any further rights or obligatious.nnder the Agreement
whatsoever.
B. The obligations of Purchaser hereunder are in all respects conditioned upon and subject to
the Property being zoned to allow Seller to complete Development without requiring any rezoning.
ARTICLE 4. CLOSING
Closing shall occur on or before December 31, 2014 at the office of Purchaser's attorney or such other venue
mutually agreed upon by Purchaser and Sella; provided, howevff, that Purchaser shall have the right to
schedule a closing any time prior thereto an ten (10) bays' notice to Seller. Seller shall deliver at closing: (a)
general warranty deed conveying the Property to Purchaser (or its designee) subject to those exceptions
approved by Purchaser, (b) all easements; necessary for the development and operation of the Development;
(c) lion affidavit acceptable to the title � insurer, and (d) such other customary documents, instruments,
certifications and confirmations as may be reasonably required to fully effect and consummate the
transactions contemplated hereby. In addition, in the event required by Purchaser in order to obtain survey
coverage in regard to the title policy for, the Property, Seller shall deliver a quit claim deed for the legal
description of the Property contained on the ALTA survey described in Article 3, above. Purchaser shall
deliver at closing: (a) the remaining balance of the Purchase Price as provided by this Agreement; and (b)
such other documents, instruments, certifications and confirmations as may be reasonably required to fully
effect and consummate the transaction contemplated hereby. At all titres until closing, Seller shall maintain
the legal title to the Property Gee and clear of any and all defects, liens, and encumbrances of every kind and
nature (other than deeds of trust that will be released at closing). Purchaser and Seller shall prorate all taxes,
income, expeatses and costs (if any) related to die Property as of the date of closing. Seller shall pay for the
propagation of the deed to the Property, and the North Carolina Real Estate Transfer Tax applicable to the
transfer of the Property (if any). Purchaser shall be responsible for the tide insurance premium, and the cost
of recording the general warranty deed and any other instruments to be recorded under the teems of this
Agreement with respect to the Property. Except as may otherwise be stated herein, each party shall bear its
own expense or expenses, including its own attorney fees.
VIJ
Seller �. / Purchaser � Page 2

ARTICLE 5. DEFAULTS AND REMEDIES
In the event the sale of the Property is not closed pursuant to this Agreement due to a default hereunder by
Seller or failure of performance hereunder by Seller, then Purchaser shall give Seller written notice
specifying Seller's default or failure of performance, and Seller shall have ten (10) business days to cure the
default or failure of performance. In the event that Seller fails to cure Seller's default or failure of
performancewithin the ten (10) day period, then the Earnest Money shall be umuediat-ely refunded and
returned to Purchaser, and, in addition, Purchaser may enforce and exercise its rights and remedies available
at law or in equity, including without limitation an action for specific performance of this Agreement. In the
event the sale of the Property is not closed pursuant to this Agreement due to a default hereunder by
Purchaser or failure of performance by Purchaser, then Seller shall give Purchaser written notice specifying
Purchaser's default or failure of performance, and Purchaser shall have ten (10) business days to cure the
default or failure of performance. In theievernt that Purchaser fails to cure Purchaser's default or failure of
performance within the ten (10) day period, then the Earnest Money shall be immediately forfeited by
Purchaser, and retained by Seller as and for liquidated damages, and as Seller's sole and exclusive remedy;
and thence the parties shall have no further rights, duties or obligations hereunder.
ARTICLE 6. MISCELLANEOUS
A. Access. Within five (5)idays of the Effective Date, Seller shall deliver to Purchaser true,
comet and complete copies of any titie policies, commitments, surveys, plans and specifications,
environmental reports or any other documents related to the Property, or any part thereof, which are in Seller's
possession or which are readily available to Seller. Seller will allow Purchaser and its agents continuing
access at reasonable times to the Property, for the purpose of conducting inspections. Following any such
investigations or inspections conteanplatod by this Agreement, Purchaser shall, at Purchaser's expense, Promptly
restore the Property to its condition prior to such inspection or investigation, and Purchaser shall defend,
indemnify and hold harmless each Sellerifrom all costs or expense of every type and description (including
reasonable attorney's fees) arising out of any personal injury or property damage caused by any agent, servant,
employee or connector of Purchaser during any such investigation or inspection.
B. Notices. Any notice, request, demand, instruction or other document to he given or served
hereunder or under any document or instrument executed pursuant hereto shall be in writing and shall be
delivered personally or sent by United States registered or certified trail, return receipt requested, postage
prepaid, or by overnight express courier, postage prepaid and addressed to the pasties at their respective
addresses set forth above, and the same shall be effective upon receipt if delivered personally or three (3)
business days after deposit in the mails if mailed. A party may change its address for receipt of notices by
service of a notice of such change in accordance herewith.
C. Attomey's Fees. In the event either patty hereto brings against arty other party an action at law
or other proceeding permitted under the terms of this Agreement .in order to enforce or interpret any of the
terms, covenants or conditions hereof or any instrument executed pursuant to this Agreement or by reason of
any breach m default hereunder or thereunder, the petty prevailing in any such action or proceeding shall be
paid all costs, including reasonable attorneys' fees.
D. Binding Agreement. 'Mis Agreement shall be binding on and shall inure to the benefit of the
parties named herein and to their respective personal representatives, successors and permitted assigns. This
Agreement shall be construed and interpreted according to the laws of the State of North Carolina This
Agreement constitutes the entire undertaking between the parties hereto, and supersedes any and all prior
agreements, arrangements and understanding between the parties. This Agreement may be amended only by
a written agreement executed by all of the parties hereto.
Seller -l-» I Purchaser —�A— Page 3

E. Memorandum of AgEmmont Seller hereby authorizes Purchaser to memorialize this
Agreement or any portion thereof in the register of deeds where the Property is located and agrees to promptly
execute any documentation reasonably required by Purchaser to effectuate the same.
Seller Representation Seller warrants to Purchaser as to the following:
1. Seller has the right, power and authority to enter into this contract and to sell the Property in
accordance with the leans hereof, and Seller has granted no option to any other person or
entity to purchase the Property.
2. The Seller is not involvedlin any bankruptcy, reorganization or insolvency proceeding.
3. There are no parties in possession of the Property or are entitled to possession thereof other
than Seller.
4. All taxes, assessments, water charges and sewer charges affecting the Property are current
and have been fully paid as billed.
5. Seller has not received notioo of and/or is aware of any suits, judgments or violations of any
zoning, building, fire, health, pollution, environmental protection or waste ordinance, code,
law or regulations related ito the Property.
6. Except as previously disclosed in writing to Purchaser by Seller, to the best of Seller's
knowledge, there are no underground storage tanks, drams and/or any other environmental
conditions at the Property:
Seller agrees to notify Purchaser within 5 business days if any of the above items change prior to
closing.
G. Brokers and Comrrrissions. Purchaser and Seller represent and warrant to each other that
neither has dealt with a broker, agent or other person in cotmection with this transaction other than Sean Dowell
with Dowell Commercial Reality, as Purcbaacr's agent Purchaser's Agent shall be paid 3%from the Purchase
Price at closing. Seller and Purchaser shaBi.each indemnify the other against, and shall hold each other harmless
Sam, any and all suits, claims, demands, judgments, damages, costs or expenses of or for any fees or
commissions which are the responsibility bf the indemnifying party, and shall pay all costs of defending any
action or lawsuit brought to recover any fees or commissions incurred by the other, including reasonable
attomcys' fees.
[Remainder of Page Intentionally Left Blank]
Seller PM__ / Puuch2ser k M Page 4

IN WITNESS WHERM- F, the parties Loreto have executed this Agreement as of the day and year
firsi above written.
Seller:
VENTURE PROPERTIES I, LLC,
a North Carolina limited liability company
By:
Name: Martin D. Koon
Title: Member
Da+e'. ( I C< 20l
purchaser.
SARI AND ASSOCIATES NC, LLC,
a North Carolina ' 'ta ' bTlity w
By:
Ric C. A ' o, Member
/I5-/ZDIq
Seller_! Purchaser Q- 7 Page 5

Exhibit A
- ---------
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b. Pumh....,
15 2. aUpS
4
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37
Sq. MI..
1:251 rem
IV O'kk
mCllciitNH L. wl(mJrMY Ca a ft stm
ft W.Iv, va Im Gu G ,Q It
mu.. W,.dkd
Seller Purchaser Page 6

NOTICE OF REAL PROPERTY ACQUISITION
7hia Fie-Coutract.4geeriwrrtl (Agrasman) is flu the
pwjp y locausl at the following udihmv
PIN 4745293585 W U luestcd on Solstice Drnm
in Staresrdla Iredell county, NC beiwoen the following parties:
6ty Counq
Duyc. Sari and AsawAtes NC, MC Address: 463112 Camlma Circus
Wtnsam a Salmi, W. 27104
Seller; Venture Protser6aa 1, L1.0 ! Addrrxs; PD Bna 943
Wilkesboro, NC 28697
Agreement Condltlom
The Buyer is sacking federal funds through the Snte of North Carolimh HOME Investment Partnership Program on acquire
pmpary owriad by the Sellam eautmet a multifamily rented proJen (Project} In accoMeuee with the requvemmts of the
lluifmm Rnloutim nnintance and Ral Property Aegwsitms Policim Act of 1970, m amended, end all rules andlor
reguLatiorn irnpicuunted or pmatulgated thneimda, the Seller is hereby notified that:
Yolumary Sale
1. This sale is voluntary. The Buyer does not bava the power of cra6iC1 dome, and cannot acquire the propa^y if
negotiations fail to result in an alpeanwot.
2. Because this is a voluntary, tansamii u the Buyer will be unable to acquire the property offered for sale if
ncgatistiona fail to result in m agrasnmt
3. 7be Buyer will inform the Seger serf the Property%estimated fair trinket value prim to acquisition.
4. White fodael fmids will be used in the acquisition of the Sena'& property, the Seger WD.L NDT be entitled to any
relocation bonefrta.
5. Any teoatsr IWIly occupying the property is eligible on reeeive relocation auistance and bcndlta as idattitcd in the
Cmforn Relocation Assistance and Ral Property Acquisition Policies ALL of 1970, as amended.
Trrwly Nonce,
1. The Seller smhorima the Buyer, the fading agency, or a designated reprmentalive to provide to each resident (if arty)
notices required by I{UD'a instructions found in HUD Handbook 1378.
2- The Seller auttaiem The Buyer, thefundhig agency, m s deaigtwted represeruawe to pme ida or pemsit to be
provided a notice of dcoial to any panne wino wiebes to apply m became tenant Before signing a lease and
commcnei g uocuperwy, the Person must be iafannal of the fallowlog:
A. Ifthe Project is fended, the person my be displaced; and,
B. The person would our qu&*,, as a'displaced person' no a resultof the Proj=and would therefore not be
eligible to receive relocation assistance or bcnd"
/? rnrdMraping
1. 71he Seller agrees m provide rho Htrya, Uhe fading egenry, err a daigneted represeraative ire name ahrd adhhas of
each resident (if any)L
2. 1he Seller aulhorim the Buyer, tern funding ngmey, a a duigsrnted rapresraaaW e m survey each residwit (if any) m
deternvno relocation costs and housing needs.
1 of 2
Seller f UI _ I Purchaser �A Page 7

According to the RealPmpatim AcquWtim Ibiicies let of 1970 with HOME f mds, an activity or %mio of activitim in a
HOME anistod projoct duct are integrally related, each msanial to the other, wbot1w or not all of the compnnent aotivilim
receive HUD fmaneinl assistance, we subject to HUD's implemmtiug instructions.
Agrmneat Amptunce
Tke Buyer and Seller undmamd if the conditions of thus Agreana4 are not complied witlL either party may tundnaic the real
property sales contract (Conuact) try notifyhhg the other parry by ceniBed road, return -receipt requested. the Contract is
terminated. The Buyer and Seller. 1) volwanrily aaept them Agtuunent eorditioa, and 2) agree to outer into a Contract for
thu property identlGed in tWa AgrcnnoL
yeadum PropeNi`a I, LLC
Nmmafr - of Salim
Martin D Koon
Namo(it Seller¢ is an Entity)
Signature of Sella
Lfembv
Title
Date—ei
hfai baaecubdomce or aivndtmuwua a the Option or Cotraa
San budAmnooufo NC. LM
NamWEnity of Buyer
RphadC Pummano Mctnbcr
Name(1fBuya' tity) Title
Stgcahuo of Buyer
Date: 0► by-40 1 y
Must be ae.uted before a eunultansous to the Option or Contract
of 2
scuff _ 7 Ptrrchasa:r R V "t Page 8

AGREEMENT TO PURCHASE REAL ESTATE
This Agreement to Purchase Real Estate ("Agreement") is made effective as of the 30dn day of December,
2013 (the "Effective Date"), by and between SARI AND ASSOCIATES NC, LLC, a North Carolina
limited liability company, with a mailing address of 463 '/2 Carolina Circle, Winston-Salem, NC 27104
("Purchaser') and VENTURE PROPERTIES 4 LLC, a North Carolina limited liability company limited
partnership, with a mailing address of PO Box 943 Wilkesboro NC 28697
ARTICLE 1. PROPERTY
On the terms set forth herein, Purchaser agrees to purchase from Seller, and Seller agrees to sell to Purchaser,
that approximate 5.25+/- acre parcel, which parcel is a portion of 11.644+/- acres of real property known as
PIN #4745283585,000 which is located on Solstice Drive in Statesville, Iredell County, North Carolina,
together with all improvements thereon and appurtenances thereto (the "Property") as shown in Exhibit A,
attached. The exact legal description and acreage of the Property shall be determined by the survey
described in Article 3, below. Purchaser intends to develop and operate up to sixty four (64) units of multi-
family housing and ancillary facilities on the Property (the `Development").
ARTICLE 2. PURCHASE PRICE AND EARNEST MONEY
Purchaser shall pay Seller the sum of SIX HUNDRED SIXTY-FOUR THOUSAND AND 00/100
DOLLARS ($664,000.00) (the "Purchase. Price") according to the tense and conditions set forth herein.
Within five (5) business days of the Effective Date, Purchaser shall deposit the sum of FIVETHOUSAND
AND 00/100 DOLLARS ($5,000.00) as an earnest money deposit which shall be applied to the Purchase
Price (the "Barest Money'). The Earnest Money shall be held in an escrow account of THE
BROCKMANN LAW FIRM, P.C., as escrow agent (the "Escrow Agent"), and disbursed in accordance with
the terms and conditions of this Agreement. Within five (5) business days following the earlier of (i) receipt
by Purchaser of a final allocation of sufficient low-income housing tax credits from the North Carolina
Housing Finance Agency, and (ii) September 15, 2014 (whichever applies is to be the "Tax Credit Allocation
Due), Purchaser shall deposit the sum of FIVE THOUSAND AND 00/100 DOLLARS ($5,000.00) as an
earnest money deposit which shall be applied to the Purchase Price. Upon satisfaction of all of the conditions
precedent set forth in Article 3, below, the Earnest Money shall be non-refundable when paid but applied to
the Purchase Price. In the event the Purchaser desires to extend the date of closing, dra Purchaser shall have
three (3) options to extend the date of closing for sixty (60) days each by depositing an additional sum of
FOUR THOUSAND AND 00/100 DOLLARS ($4,000.00) in each instance as an additional earnest money
deposit which shall be non-refundable whin paid but applied to the Purchase Price.
ARTICLE 3. CONDITIONS PRECEDENT
A- Purchaser shall have until September 15, 2014 to complete the following due diligence in
regard to the Property to its satisfaction in its sole discretion:
1. Purchaser's receipt, review and approval of: (a) utility will -serve letters confirming
that all necessary utilities are available insufficient capacity to service the Development; (b) an engineering
report indicating that the soil condition, quality, density and bearing capacity are suitable for the
Development; (c) a construction company's estimate of costs to construct the Development based on other
due diligence findings, and (d) except as otherwise set forth herein, a zoning letter or report confirming the
zoning for the Property will allow Purchaser to develop and operate the Development, and that either (i) no
conditional use permit, variance or any other land use permit or approval is necessary for the Development or
(ii) any conditional use permit, variance or other land use permits or approvals necessary for the
Development have been obtained.
Seller / Purchaser _Lv" I

2, Purchaser's determination, that any associated impact fees, utility hook-up or tap -in
fees, or any other associated development and/or construction related fees imposed by any applicable
governmental authority are acceptable to Purchaser.
3. Purchaser's receipt, review and approval of: (a) a standard commitment for title
insurance from a title insurer approved by Purchaser; (b) an environmental report; (c) a boundary survey; and
(d) a flood plain certification and a wetland delineation report indicating that the presence of perennial and/or
intermittent streams (and their associated buffers), wetlands and/or floodplains will not impede the
development or operation of the Development; and (e) the cost for any offsitc facilities required for the
development and operation of the Development.
4. Purchaser's receipt of all necessary and customary permits from any and all
applicable governmental authorities in order for Purchaser to develop and operate the Development,
including those for all necessary utilities, access, building construction, site construction and off -site
improvements (such as road widening easements and permits from applicable departments of transportation).
5. Purchaser's receipt of a binding allocation of low-income housing tax credits for the
Development from the North Carolina Housing Finance Agency.
In the event any condition precedent in this Article 3A is not satisfied by the date specified in this Article 3A,
Purchaser shall have the right to terminate the Agreement upon notice to Seller and receive a refund of any
refundable Earnest Money, and neither party shall have any further rights or obligations.under the Agreement
whatsoever.
B. The obligations of Purchaser hereunder are in all respects conditioned upon and subject to
the Property being zoned to allow Seller to complete Development without requiring any rezoning
ARTICLE 4. CLOSING
Closing shall occur on or before December 31, 2014 at the office of Purchaser's attorney or such other venue
mutually agreed upon by Purchaser and Scher; provided, however, that Purchaser shall have the right to
schedule a closing any time prior thereto on ben (10) days' notice to Seller. Seller shall deliver at closing: (a)
general warranty deed conveying the Property to Purchaser (or its designee) subject to those exceptions
approved by Purchaser; (b) all easements necessary for the development and operation of the Development;
(c) Lion affidavit acceptable to the title. insurer, and (d) such other customary documents, instruments,
certifications and confirmations as may be reasonably required to fully effect and consummate the
transactions contemplated hereby. In addition, in the event required by Purchaser in order to obtain survey
coverage in regard to the title policy for, the Property, Seller shall deliver a quit claim deed for the legal
description of the Property contained on the ALTA survey descnbed in Article 3, above. Purchaser shall
deliver at closing: (a) the remaining balance of the Purchase Price as provided by this Agr=ncnt; and (b)
such other documents, instruments, certifications and confirmations as may be reasonably required to fully
effect and consummate the transaction contemplated hereby. At all times until closing, Seller shall maintain
the legal title to the Property free and clear of any and all defects, liens, and encumbrances of every kind and
nature (other than deeds of trust that will be released at closing). Purchaser and Seller shall prorate all taxes,
income, expenses and costs (if any) related to the Property as of the date of closing. Seller shall pay for the
preparation of the deed to the Property, and the North Carolina Real Estate Transfer Tax applicable to the
transfer of the Property (if any). Purchaser shall be responsible for the title insurance premium, and the cost
of recording the general warranty deed end any other instruments to be recorded under the terms of this
Agreement with rasped to the Property. Except as may otherwise be stated herein, each party shall bear its
own expense or expenses, including its own attorney fees.
Seller !"v _ / Purchaser 1_ I J Page 2

ARTICLE S. DEFAULTS AND REMEDIES
In the event the sale of the Property is not closed pursuant to this Agreement due to a default hereunder by
Seller or failure of performance hereunder by Seller, then Purchaser shall give Seller written notice
specifying Seller's default or failure of performance, and Seller shall have ten (10) business days to cure the
default or failure of performance. In the event that Seller fails to cure Seller's default or failure of
performance within the ton (10) day period, then.the Earnest Money shall be iuunediately refunded and
returned to Purchaser, and, in addition, Purchaser may enforce and exercise its rights and remedies available
at law or in equity, including without limitation an action for specific performance of this Agreement. in the
event the We of the Property is not closed pursuant to this Agreement due to a default hereunder by
Pachasw or failure of performance by Purchaser, then Seller shall give Purchaser written notice specifying
Purchaser's default or failure of performance, and Purchaser shall have ten (10) business days to cure the
default or failure of performance. In the:event that Purchaser fails to cure Purchaser's default or failure of
performance within the tan (10) day period, then the Earnest Money shall be immediately forfeited by
Purchaser, and retained by Seller as and for liquidated damages, and as Seller's sole and exclusive remedy;
and thence the parties shall have no further rights, duties or obligations hereunder.
ARTICLE 6. MISCELLANEOUS
A. Access. Within five (5).days of the Effective Date, Seller shall deliver to Purchaser true,
correct and complete copies of any tide policies, commitments surveys, plans and specifications,
environmental reports or any other documents related to the Property, or any part thereof; which are in Seller's
possession or which are readily available to Seller. Seller will allow Purchaser and its agents continuing
access at reasonable times to the Property, for the purpose of conducting inspections. Following any such
investigations or inspections contemplated by this Agreement, Purchaser shall, at Purchaser's expense, Promptly
restore the Property to its condition prior to such inspection or investigation, and Purchaser shall defend,
indemnify and hold harmless each Seller -from all costs or expense of every type and description (including
reasonable attorney's fees) arising out of any personal injury or property damage caused by any agent, servant,
employee or contractor of Purchaser during any such investigation or inspection.
B. Notices. Any notice, request, demand, instruction or other document to be given or served
hereunder or under any document or instrument executed pursuant hereto shall be in writing and shall be
delivered personally or sent by United States registered or certified trail, return receipt requested, postage
prepaid, or by overnight express courier, postage prepaid and addressed to the parties at their respective
addresses set forth above, and the same shall be effective upon receipt if delivered personally or three (3)
business days after deposit in the mails if mailed. A party may change its address for receipt of notices by
service of a notice of such change in accordance herewith.
C. Attomey's Fees. In the event either party hereto brings against aty other patty an action at law
or other proceeding permitted under the terms of this Agreement in order to enforce or interpret any of the
terms, covenants or conditionshereof or any instrument executed pursuant to this Agreement or by reason of
any breach or default hereunder or thereunder, the party prevailing in any such action or proceeding shall be
paid all costs, including reasonable attorneys' fees.
D. Binding Agreement. This Agreement shall be binding on and shall inure to the benefit of the
parties named herein and to their respective personal representatives, successors and permitted assigns. This
Agreement shall be construed and interpreted according to the laws of the State of North Carolina This
Agreement constitutes the, entire undertaking between the parties hereto, and supersedes airy and all prior
agreements, arrangements and understanding between the parties. This Agreement may be amended only by
a written agreement executed by all of the parties hereto.
Seller _I Purchaser k Page

E. Memorandum of AgLeemont Seller hereby authorizes Purchaser to memorialize this
Agreement or any portion thereof in the register of deeds where the Property is located and agrees to promptly
execute any documentation reasonably required by Purchaser to effectuate the same.
F. Seller Representatio Seller warrants to Purchaser as to the following:
1. Seller has the right, power mid authority to enter into this contract and to sell the Property in
accordance with the terns hereof, and Seller has granted no option to any other person or
entity to purchase the Property.
2. The Seller is not involved in any bankruptcy, reorganization or insolvency proceeding.
3. There are no parties in possession of the Property or are entitled to possession thereof other
than Seller.
4. All taxes, assessments, water charges and sewer charges affecting the Property are current
and have been fully paid as billed.
5. Seller has not received notice of and/or is aware of any suits, judgments or violations of any
zoning building, fire, health, pollution, environmental protection or waste ordinance, code,
law or regulations related:to the Property.
6. Except as previously disclosed in writing to Purchaser by Seller, to the best of Seller's
knowledge, there are no underground storage tanks, drums and/or any other environments]
conditions at the Property.
Seller agrees to notify Purchaser within 5 business days if any of the above items change prior to
closing.
G. Brokers and Commissions. Purchaser and Seller represent and warrant to each other that
neither has dealt with a broker, agent or other person in connection with this transaction other than Sean Dowell
with Dowell Commercial Reality, as Purchaser's agent Purchaser's Agent shall be paid 3% from the Purchase
Price at closing. Seller and Purchaser r sh&each indemnify the other against, and shall hold each other harmless
from, any and all suits, claims, demands, judgments, damagev, costs or expenses of or for any fees or
commissions which are the responsibility of the indemnifying party, and shall pay all costs of defending any
action or lawsuit brought to recover any fees or commissions incurred by the other, including reasonable
attorneys' fees.
[Remainder of Page Intentionally Left Blank]
Seller %— / Purclmer k M Page 4

5
IN WPINESS WHERLOP, the parties hereto have executed this Agreement as of the day and year
first above written.
Seller:
VENTURE PROPERTIES I, LLC,
a North Carolina limited liability company
By:
Name: Martin D. Koon
Title: Member
Purchaser.
SARI AND ASSOCIATES NC, LLC,
a North Ctuolina ' ' e ' bility cot oif
By:
Ric ar C. A ' o, Member
Da+e I/15"/zQIy
Seller_! Purchaser V 1 1
Page 5

I
Exhibit A
Seller
qko
be purchawd
ieqllmeled 8T
41 4 1
III ILI T�il LamgM; 224!lA I Feet
O's 31 A
W#EI " �Z
001 & 1::
251 rem
1.
Page 6

NOTICE OF REAL PROPERTY ACQUISITION
'Ibis PreXontraet Agrcaneot (AgrocraaQ is fin the PIN 4745283585 000 Ic nsd on Sciatica Drnro
property Ioulod at the fnllow•itg uddresc -
in Statesvrlle Iredeb county, NC betwmn the following panic:
py County
Buyer. San and Aanaiate , NCr LLr Address: 463 M Caroline Ciroie
WerMm Salery, W. 27104
Sallee, Vauure Propernes% Id.0 Address PU Beat843
WBOZM, NC 2W.
AVvrearent Conditions
The Buys is secka g federal foods through the Sore of North Camlirut HONC Inveotmrid Partnership Program o acquire
property owned by the Sellcrw concnuct a mullifunity rental project ((4oject} In accordance with the requu®cots of the
Uniform Relocation Aautance and Real Property Acquisitions Policies Act of 1970. as amended, and all rule, ardor
regalations irrgdmtmwd or prnnrulgared thereunder, the Seller is hereby notified Uu4:
Voluntaysoid
1. This sale is voluntary. Ttte Buyer does not have the power of caninel domain and cannot acquire the property if
negotiations fail o result in an agreement.
2. Because this is a voluntary era aaclion, the Buyer will be unable to acquire the property oitered far sale if
negotiations fail to result in sec agreement
3. 7be Buyer will inform the Seller dthe propwty% estimated fair market value prior to acquisition.
4. While fodaal funds will be mod in Ux eoquisition of the Sorrel', property, On Sella WILL NOlbe entitled to any
relocation bonefits.
5. Any recent legally occupying the property is eligible to receive relocation assistance and bcndlts a identified in the
Umforne Ralocadon Assi lance and Baal Property Acquiailim Policiu Act of I970. as amended.
yllvary Nonce
1. '[be Seller authorise. the Buyer, the floding agency, or a designated reprmentauve to provide to mob reeident (if arty)
notice required by HUD's instructions found o HUD Handbook 1378.
2. 7be Seller auUteri2es the Buyer, dw funding agency, or s designated repreacuarive o provide or permit to he
provided a notion of dwial to any person who wishm to apply w b000me a tenant Before signs g a (case and
eommeocing coeupwwy, We heavens sorest br. ivfumtal of t}w toilowing:
A Ifthe Project is funded, the person may be displaced; and.
H, lire person ,nerd cot qualify, u a "displaced pms ' a a result of thoProjm end would ll=e non Ml be
eligsbk to reactive reoeation assistance or bendm.
RamrtlP.mpi.p
1. The Seilar agrees to provide the Buyer, the funding agrncy, or a designated rer aseraative the name nor] addres of
each resident (if any)t
2. The Seller authoriam the Buyer, ton funding agency. or a designated representative to survey each resident (if any) o
deacroino relocation roars and homing needs.
1 of 2
Seller k r Purchaser " Page 7

Acceding to the RmI properties Aceryuition lVieics Act of 1970 with HOME omit, an activity or serim of xrtivilim in a
HOME assistod project that arc integrally rolstsd, mah sm, nIial to the others, wheAla or not nS of the emtponent activities
receive HUD tinanoial atsidence, are rubjeet to HUD's implementing insuucdooa.
Agnament Acceptance
The Buyu and Sella undereland if tut Conditions rf Ills Agtmnad art not complied with, either puny may temninsm the teal
property sales contract (Contract) by notifying die oche, party by cenified rudil, return -reed% requested, the Contract is
wait -voted The Buyer and Seller. I) volummudy aaept thaaa Agreement conditions, and, 2) agree to tutu into a Comma for
Out property idmtiflod in thin Agreetuat.
VellImpropelaw i, U.0
NameJEd4 of Salim
Mulm D Kenn
Nmto (if Sella is anEntity)
Signature df &tier
Manbv
Tnlo
Date: I- a -Zl f(
Mutt be u=milOd�ba%N nr simnitatawea b the Option u Contract
Sdel andAaaooida NC,LLC-
Nanm/Broty ofBuya
RphasdC Aagutn
Norte (VBuyer' City)
SS-Wro of B-ye[
Mcmba
Title
Date: 01 % 15- 201 y
Mutt be aan.uttd before or aunuluncow In We Option a Contract
'_at2
Seller _ / Pu chttm* R v "' Page 8

Corporations Division
Page 1 of 1
North Carollna
Elaine F. Marshall DEPARTMENT OF THE
Secretary SECRETARY OF STATE
PO Box 29622 Raleigh, NO 276Z&4X22 M9jW?-2000
Click Here To:
View Document Filings File an Annual Report Print a Pre -Populated Annual Report form
Amend a Previous Annual Report ..
Corporate Names
Legal: Sari and Associates NC, LLC
Limited Liability Company Information
Sosld:
1352496
Status:
Current -Active
Annual Report Status:
Current
Citizenship:
Domestic
Date Formed:
12/1612013
Fiscal Month:
December
State of Incorporation:
Registered Agent:
Sari, James
Corporate Addresses
Mailing:
463 1/2 Carolina Circle
Winston-Salem, NC 27104-3121
Principal Office:
463 112 Carolina Circle
Winston-Salem, NC 27104-3121
Reg Office:
463 1/2 Carolina Circle
Winston-Salem, NC 27104-3121
Reg Mailing:
463 1/2 Carolina Circle
Winston-Salem, NC 27104-3121
Company Officials
Managing Member: James Sari
463 1/2 Carolina Circle
Winston Salem NC 27104
Member: Richard Angino
463 1/2 Carolina Circle
Winston Salem NC 27104
Account
Login
Register

4
MEMBER ELECTION
010
SARI AND ASSOCIATES NC, LLC
Pursuant to the'Operating Agreement of SARI AND ASSOCIATES NC, LLC (the -Company-), a limited
liability company organized pursuant to the North Carolina Limited Liability Company Act, Richard
Angino ("Angino") as a Member of the Company, hereby elects Richard Angino, a North Carolina
Resident to be an additional Manager per Angino's rights in the Operating Agreement. This role shall be
effective September 23, 2014 and shall continue until Angino elects a different Manager.
IN WITNESS WHEREOF, the undersigned, being the Member of the Company, has caused this election to
be duly adopte y the Company.
� Af�
Richard Angino, Member
IN WITNESS WHEREOF, the un gned accepts the role as a Manager of the Company.
Richard Angino, Individual

K�
BK 1059PG0535
Prepared by: McElwee & McElwee, Attorneys at Law
./'Return to'. Grantee (jpti37FILED
IREDELL COUNTY K
EXCISE TAX S YO.Op 01; 30/98 5:00 PPI
BkEITA D. BELL
NORTH CAROLINA GENERAL WARRAN'fV131EIgf Deeds
THIS DEED made this day January, 1998. by and between MINNIE GODREY GILT, by
and through her attorney -in -fact, JANE GILL WALKER, Grantor and VENTURE PROPERTIES
1, LLC whose address is 924 Main Street, North Wilkesboro, NC 28659, Grantee.
WITNESSETH
That the Grantor, for valuable consideration paid by the Grantee, the receipt of which is hereby
acknowledged, has and by these presents does grant, bargain, sell and convey unto the Grantee in fee
simple, that certain lot or parcel of land situated in Statesville Outside Township, Iredell County, North
Carolina, and more particularly described as follows: tiii couatr xc $50 00
SEE ATTACHED EXHIBIT A °101`xtN
�pP GHA 1, Real Estate
Excise Tax
The property hereinabove described was acquired by the Grantor by instnuml9tPD - I lrecord -
211, Page 92 of Iredell County Registry.
TO HAVE AND TO HOLD the Grantor's interest in the aforesaid lot or parcel of land and all
privileges and appurtenances thereto belonging to the Grantee in fee simple.
And the Grantor covenants with the Grantee that the Grantor is seized of the premises in fee
simple, has the right to convey the same in fee simple, that title is marketable and free and clear of all
encumbrances, and that the Grantor will warrant and defend the title against the lawful claims of all
persons whomsoever except for the exceptions hereinafter stated.
Title to the property hereinabove described is subject to the following exceptions:
Easements and restrictions of record.
IN WITNESS WHEREOF, the Grantor hassether hand and seal, this ,day of January,
1998'.
(SEAL) G
Minnie Godbey Gill
00.._J L5,u LJ.lk , A-ttCV--'A— ^- FQ x
(SEAL)
Jane Gill Walker, Anorney-in-Fact
STATE OF TENNESSEE
$c 11,ZJA,3 COUNTY
I, a Notary Public for said County and State, do hereby certify that
Jane Gill Welker attorney in fact for Minnie Godbey Gill personally appeared before me this day, and being by
me duly sworn, says that he/she executed the foregoing and annexed instrument for and in behalf of Minnie
Godbey Gill, and that his/her authority to execute and acknowledge said instrument is contained in an instrument
duly executed, acknowledged, and recorded in the office of Register of Deeds in the County of Iredell Slate of
North Carolina on the 16th day of August, 1991, in Book 827, Page 543 and that this instrument was executed ..
under and by virtue of the authority given by said instrument granting hiMher power of attorney.
I do further certify that the said Jane Godbcy Gill acknowledged the due execution of the foregoi�g al+b 1y "."•.,
annexed instrument for the purposes therein expressed for and in behalf of Minnie Godbey Gill. < <� ••'•, %'y
•tree h0,� : W
Witness my hand and official seal, this the ft day of January, 1998. w :, r� u ^ %
Notary Public.
My commission expires: f O - a`L - � 0 b1•........
The foregoing Celli to of S(�a�— is certified to be correct. This instrument anal
this certificate are duly registere at and nme • nd in the Book nd Pa own on the first page hereof.
BRENDA D. BELL By.
Register of Deeds for Iredell County U puty I Axsistant Rgjslits

BK 1059PS0636
A certain tract or parcel of land containing 76.822 acres, lying and being in Statesville Outside
Township, Iredell County, North Carolina, being more particularly described as follows by bearings
rotated to Deed North - Deed Book 211, Page 92, Iredell County Registry, as surveyed by Russell
N. Vogel, R.L.S., L-3106, on March 18, 1994:
BEGINNING on an existing iron pipe, said pipe being a common comer of the land as conveyed to
M. Winston and Diane C. Mayhew by deed recorded in Deed Book 729, Page 823, Iredell County
Registry, and Kenneth M. Harris by deed recorded in Deed Book 825, Page 327, Iredell County
Registry, and running thence with Harris' line South 89° 34' 09" West 1009.81 feet to an existing
one-half inch rebar; thence South 89° 36' 59" West 51.80 feet to an existing one-half inch rebar;
thence South 891 36' 59" West 107.94 feet to a five -eights inch rebar on the east side of Fourth
Creek; thence South 890 36' 59" West 23.31 feet to the center of Fourth Creek; thence with the
center of said creek the following eight (8) courses and distances: (1) North 090 36' 48" East 42.99
feet, (2) North 360 02' 09" West 116.32 feet, (3) North 49° 36' 55" West 155.07 feet, (4) North 680
02' 20" West 487.68 feet, (5) North 580 24' 43" West 93.31 feet, (6) North 380 08' 58" West 66.37
feet, (7) North 28° 49' 09" West 165.81 feet, (8) North 28° 20' 06" West 347.56 feet; thence leaving
said creek and running with the center of a branch the following thirty-two (32) courses and
distances: (1) North 270 44' 30" East 70.01 feet, (2) North 140 12' 06" West 88.90 feet, (3) North
95
11° 29' 22" West 57.57 feet, (4) North 00° 23' 04" East 39.21 feet, (5) South 860 00' 39" East 20. feet, (6) North 281 47' 06" East 63.76 feet, (7) North 201 24' 34" East 135.66 feet, (8) North 70° 51'
26" East 10.00 feet, (9) North 20° 43' 57" East 174.53 feet, (10) North 22° 04' 14" East 30.60 feet,
(11) North 240 05' 22" East 156.31 feet, (12) North 380 52' 22" East 91.15 feet, (13) North 080 25'
28" East 22.95 feet, (14) North 271 37' 20" East 38.09 feet, (15) North 66° 39' 33" East 22.82 feet,
(16) North 030 33' 52" East 20.49 feet, (17) North 70° 25' 18" East 28.94 feet, (18) North 81° 12'
23" East 54,55 feet, (19) North 82° 35' 23" East 61.86 feet, (20) North 62° 06' 31" East 99.52 feet,
(21) North 380 40' 53" East 35.74 feet, (22) North 660 35' 21" East 55.53 feet to a monument set,
(23) North 641 02' 44" East 59.19 feet, (24) North 15° 28' 05" West 26.44 feet, (25) North 08° 42'
58" East 33.69 feet, (26) North 470 41' 44" East 69.36 feet, (27) South 81° 19' 1 V East 45.05 feet,
(28) North 020 16' 24" East 47.05 feet, (29) North 300 29' 52" East 87.89 feet, (30) North 430 23,
34" West 9.90 feet, (3 1) North 3 V 40' 04" East 60.87 feet, (32) North 25° 00, 01" East 64.21 feet;
thence leaving said creek South 871 18' 18" East 13.13 feet to a five -eights inch rebar set; thence
South 87° 18' 18" East 1019.14 feet to an existing iron pipe; thence South 01 ° 04' 43" West 651.75
feet to a five -eights inch rebar set at a fence corner; thence North 87° 19' 52" West 488.85 feet;
thence South 02° 49 08" West 617.91 feet; thence South 4 V 52' 50" East 103.65 feet; thence South
48° 07' 10" West 142.60 feet; thence South 41° 52' 50" East 243.61 feet; thence North 48° 07' 10"
East 192.60 feet; thence South 410 52' 50" East 204.63 feet; thence a curve to the left having a radius
of 305.00 feet and a bearing and distance of South 601 59' 41" East 199.74 feet; thence South 80°
06' 31" East 251.87 feet; thence South 03° 39' 10" West 558.41 feet to the point of BEGINNING,
containing 76.822 acres by coordinate geometry.