20200108 Ver 1_DCM Correspondence_20220519

ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
BRAXTON DAVIS
Director
TO
NORTH CAROLINA
Environmental Quality
Cameron Luck
Assistant Major Permits Coordinator
FROM: Brendan Brock
Field Specialist, Wilmington L
THRU: Tara MacPherson (Acting DM — Jason Dail) M
District Manager, Wilmington
DATE: May 18, 2022
SUBJECT: Request for Transfer of State Permit No. 55-20
New Moon Holdings LLC
Brunswick County
New Moon Holdings LLC c/o Timothy Moon is requesting transfer of State Permit No. 55-20,
which was issued to New Moon Holdings LLC, on May 8, 2020 to redevelop and expand the high
ground facility, install a new bulkhead, expand the docking facility, and perform maintenance
excavation within the marina basin footprint previously authorized under State Permit No. 74-05.
State Permit No. 55-20 is set to expire on December 31, 2023. According to the deed, on
December 28, 2021, the transfer from New Moon Holdings LLC to Southern Marinas Calabash,
LP was complete.
On April 19, 2022, Southern Marinas Calabash, LP submitted a transfer request. DCM also
received a transfer fee (check no. 1261 dated: May 6, 2022) to our Wilmington Regional Office.
This office has no objections to the transfer of State Permit No. 55-20. A copy of the deed is
included with this request.
Enclosures
cc: WiRO File
Greg Curry, USACE
Holley Snider, DWR
George Mabes, LPO
nw.+m«u.w...�niawrv�
North Carolina Department of Environmental Quality I Division of Coastal Management
Wilmington Office 1127 Cardinal Drive Extension I Wilmington, North Carolina 28405
910.796.7215

ATTENTION:BRENDON BROCK
TRANSFER OF CAMA PERMIT 55-20
NEW MOON HOLDINGS, LLC TO SOUTHERN MARINAS CALABASH, LP
Address:
Southern Marinas Calabash, LP
Calabash Marina
1207 Riverview Dr
Calabash, NC 28467
Tim Moon
239-288-9621
RECEIVED
MAY 10
DCM WILMINGTON NC

Tim Moon
From:
Brock, Brendan O <[e-mail]>
Sent:
Friday, May 6, 2022 10:21 AM
To:
Tim Moon
Subject:
Re: [External] RE: Transfer and letter of refinement
You don't often get email from [e-mail]. Learn why this is important
Tim,
Thanks for sending over the required information for the transfer. It looks good at this time. Please send the
$100 check to NCDEQ at 127 Cardinal Dr. Ext, Wilmington NC 28405
Brendan Brock
Field Representative
NC Division of Coastal Management
Department of Environmental Quality
910 796-7270 office
[e-mail]
127 Cardinal Drive Ext
Wilmington, NC 28405
10
From: Tim Moon <[e-mail]>
Sent: Thursday, May 5, 2022 9:12 AM
To: Brock, Brendan 0 <[e-mail]>
Subject: [External] RE: Transfer and letter of refinement
CAUTION: External email. Do not click links or open attachments unless you verify. Send all suspicious email as an attachment to
Report Spam.
Brendon, Take a look. I believe this is all I need for the transfer. If ok I will place $100 check and documents in the mail.
Thank You,
Tim Moon
239-288-9621 RECEIVED
From: Brock, Brendan 0 <[e-mail]> MAY 10 ZOR
Sent: Monday, January 31, 2022 4:10 PM
DCM WILMINGTON, NC
1

4.19.2022
NC Division of Coastal Management
Department of Environmental Quality
RE: North Carolina CAMA Permit Transfer into New Entity Name
To whom it may concern:
Southern Marinas Calabash LP acquired Calabash on 12.28.2021
Under new ownership we are applying for the current CAMA permit to be updated/ transferred
into the current entity name.
To complete the application, we inform the Department that there are no substantial changes
in conditions, circumstances, or facts affecting the project and that there have been no
substantial changes in the changes or modifications to the active permit project as it was
proposed in the original application.
If you have any queries, please do not hesitate to me.
Barry Miller
Regional Operations
[phone]
[e-mail]
MAY 1 (! 2027
DCM WiLMINGrON ,,(.

..................
......... -- Permit Number
Permit Class NEW 55-20
STATE OF NORTH CAROLINA
Department of Environmental Quality
and
Coastal Resources Commission
+ r`� Mi1Y 10 2022
for
X Major Development in an Area of Environmental C15P.%TVII-MINGTQN, NC
pursuant to NCGS 113A-118.
• Excavation and/or filling pursuant to NCGS 113-229
Issued to New Moon Holdings LLC , PO Box 6303 Ocean Isle Beach, NC 28469
Authorizing development in Brunswick County at adi to Calabash River Lots 11-16 Block 2 & Lots 14-19
Block 3 River View Dr. in Calabash, as requested in the permittee's application dated "Rec DCM Wilm 10/9/19"
(MP I) 11/4/19 (MP 2 4) & 10/8/19 (MP 3) incl att workplan drawings (4) as referenced in Condition No. I below.
This permit, issued on May 8, 2020 , is subject to compliance with the application (where
consistent with the nermit), all applicable regulations, special conditions and notes set forth below. Any violation
>f these terms may be subject to fines, imprisonment or civil action; or may cause the permit to oe nuts anu votu.
1) Unless specifically altered herein, all development shall be carried out in accordance with the
attached workplan drawings (13), Sheets 1-7 of 7 all dated "Revised 5/5/20", Disposal Site dated
"Received DCM Wilmington 10/9/19", and CI,C2,C2.1,C3 and C6 all dated 3/18/20, and the marina
operation plan dated "Received MP Section MHD 2/25/20".
Upland Development — Urban Waterfront
2) Unless specifically altered herein, this permit authorizes the grading and other land disturbing
activities associated with the development of the above referenced property, including the 3 dry
stacks, buildings, parking lot, travel lift improvements, and other associated infrastructure, all as
expressly and specifically set forth in the attached permit application and workplan drawings:
(See attached sheets for Additional Conditions)
This permit action may be appealed by the permittee or other
qualified persons within twenty (20) days of the issuing date.
This permit must be accessible on -site to Department
personnel when the project is inspected for compliance.
Any maintenance work or project modification not covered
hereunder requires further Division approval.
All work must cease when the permit expires on
December 31, 2023
In issuing this permit, the State of North Carolina agrees that
your project is consistent with the North Carolina Coastal
Management Program.
Signed by the autnoriry or me aecre,ary u, un1,1 au" ",v .a,.
of the Coastal Resources Commission.
This
Braxton C. Davis, Director
Division of Coastal Management
are hereby accepted.
of Perm ittee

New Moon Holdings LLC.
ADDITIONAL CONDITIONS
Excavation
Permit No. 55-20
Page 2 of 6
3) Should excavation take place within the period of peak biological activity (1 April — 30 September) of
any year, to prevent unnecessary siltation into the adjacent water body, a turbidity curtain shall be left
between the area to be excavated and the existing canal for a 24-hour period after completion of
excavation or until the project areas has returned to ambient conditions, whichever is greater.
4) No excavation shall take place outside of the area indicated on the workplan drawings
5) Excavation shall not exceed -4 feet below the mean low water level. In no case shall the depth of
excavation exceed the depth of connecting waters.
6) The temporary placement or double handling of excavated or fill materials within waters or vegetated
wetlands is not authorized.
7) No excavated or fill material shall be placed at any time in any vegetated wetlands or surrounding
waters.
8) No excavation shall take place within 10 feet of any Coastal Wetlands.
9) . All mechanized equipment will be regularly inspected and maintained to prevent contamination of waters
and wetlands from fuels, lubricants, hydraulic fluids, or other toxic materials. In the event of a spill of
petroleum products or any other hazardous waste, the permittee shall immediately report it to the National
Response Center at [phone] and provisions of the North Carolina Oil Pollution and Hazardous
Substances Control Act will be followed.
Spoil Disposal
10) No spoil material shall be placed within 30 feet of the mean high-water line.
11) All excavated materials shall be confined above mean high-water line and landward of regularly or
irregularly flooded marsh behind adequate dikes or other retaining structures to prevent spillover of
solids into any marsh or surrounding waters.
12) The spoil disposal area shall be inspected and approved by a representative of the Division of Coastal
Management prior to the commencement of any dredging activities.
MAy 1 r 2022
DCM WILMINGTON, NC

New Moon Holdings LLC.
ADDITIONAL CONDITIONS
Permit No. 55-20
Page 3 of 6
Maintenance Clause
13) The Division of Coastal Management shall be notified in writing at least two (2) weeks in advance of
any maintenance excavation work authorized by this permit, and such notification shall include:
A. The number of the original permit. .
B. A statement that no dimensional changes are proposed.
C. A copy of the original permit plans with cross -hatching indicating the area to be maintained, the
area to be used for spoil disposal, and the estimated amount of material to be removed. The
location, design and holding capacity of the spoil disposal site shall be approved by a representative
of the Division prior to the initiation of any maintenance dredging activities.
D. The date of map revision and the permittee's signature shown anew on the original plan.
Shoreline Stabilization - Bulkhead
14) The authorized bulkhead shall be located immediately waterward of the existing bulkhead at any point
along its alignment at the time of construction.
15) No vegetated wetlands or open water shall be excavated or filled, even temporarily, outside of the
approved bulkhead alignment.
16) The alignment of the authorized bulkhead shall be staked by the pemrittee and verified by a
representative of the Division of Coastal Management within a maximum of 30 days prior to the start of
construction.
17) The bulkhead shall be solid and constructed of treated wood, concrete slabs, metal or vinyl sheet piles,
or other suitable materials approved by Division personnel.
18) The bulkhead shall be constructed prior to any backfilling activities.
19) The bulkhead shall be structurally tight so as to prevent seepage of backfill materials through the
structure.
20) The fill material shall be clean and free of any pollutants except in trace quantities.
21) All backfill material shall be obtained from a high ground source and confined behind the permitted
bulkhead.
22) All fill material to be placed below mean high-water level shall be confined behind the permitted bulkhead.
Sedimentation and Erosion Control
23) An Erosion and Sedimentation Control Plan modification may be required for this project. If required,
this plan must be filed at least thirty (30) days prior to the beginning of any land dia t' - activity.
Submit this plan to the Division of Energy, Mineral and Land Resources, Land Qua yts'edt&hi 7127
Cardinal Drive Extension: Wilmington. NC 28405.
MAY 1 0 200

New Moon Holdings LLC. Permit No. 55-20
Page 4 of 6
ADDITIONAL CONDITIONS
24) Appropriate sedimentation and erosion control devices, measures or structures shall be implemented to
ensure that eroded materials do not enter adjacent wetlands, watercourses or properties.
25) A ground cover sufficient to restrain erosion shall be provided within 30 calendar days of any phase of
grading on cut or filled slopes. At a minimum, a silt fence shall be properly installed immediately
landward of the bulkhead cap immediately following completion of backfilling activities.
Stormwater Manaeement
26) The Division of Energy, Mineral and Land Resources (DEMLR) has determined this project will require
a Stormwater Management permit. The permittee shall receive a Stormwater Management permit from
DEMLR prior to the initiation of any construction. Any violation of the permit approved by DEMLR
shall be considered a violation of this CAMA permit.
Marina Expansion
27) This permit authorizes only the removal of the existing pier and the construction of the docks, piers, and
other structures and uses located in or over the water that are expressly and specifically set forth in the
permit application. No other structure, whether floating or stationary, shall become a permanent part of
this marina expansion without permit modification. No non -water dependent uses of structures shall be
conducted on, in or over Public Trust waters without permit modification.
28) No sewage, whether treated or untreated, shall, be discharged at any time from any boats using the
marina. Any sewage discharge at the marina shall be considered a violation of this permit for which the
permittee is responsible. This prohibition shall be applied and enforced throughout the entire existence
of the permitted structure.
29) Any portion of the permitted access pier and docking facilities built over Coastal Wetlands shall not
exceed six feet in width and shall be elevated a minimum of three feet above the wetland substrate as
measured from the bottom of the decking.
30) The permittee shall install and maintain at his expense any signal lights or signals prescribed by the U.S.
Coast Guard, through regulation or otherwise, on the authorized facilities. At minimum, permanent
reflectors shall be attached to the structure in order to make it more visible during hours of darkness or
inclement weather.
31) This permit authorizes a maximum of 20 formalized boat slips, 7 slips located at the western facility and
13 located at the eastern facility.
32) In order to satisfy concerns of the resource agencies and in order to comply with Condition No. 31 of
this permit, the western facility shall have a handrail or other obstruction constructed along the landward
edge of the shore parallel floating dock between formalized slip no. 2 and the access pier of the
authorized marina expansion. Furthermore, no cleats, tie piles or other formal mooring structures shall
be constructed on any portion of the marina outside of the formalized boat slips .RWylad'ditibhal vessel
or mooring structures that would increase the number of formalized boat slips without permit
modification shall be considered a violation of this permit. MAY .I. 0 202

New Moon Holdings LLC. Permit No. 55-20
Page 5 of 6
ADDITIONAL CONDITIONS
33) The marina shall display a sign showing the location of the nearest pumpout facility, including other
appropriate waste disposal information, at the entrance and exit from the main piers.
34) The authorized covered platforms shall not be enclosed. Any material used on the sides shall not
obstruct view and shall be permeable to air and water. Screen or wire on the sides along with benches
are permitted. Lattice is specifically excluded from being used under this authorization.
35) The roof of the covered platforms shall' not be designed for second story use.
36) No attempt shall be made by the permittee to prevent the full and free use by the public of all navigable
waters at or adjacent to the authorized work.
37) This permit does not authorize the interference with any existing or proposed Federal project, and the
permittee shall not be entitled to compensation for damage to the authorized structure or work, or injury
which may be caused from existing or future operations undertaken by the United States in the public
interest.
38) Should the Lot to the east be sold prior to the initiation of construction of the eastern facility, the
permittee shall obtain a written agreement from the new owner(s) waiving the 15-foot riparian corridor
setback and submit it to the Division of Coastal Management prior to initiating construction of the
docking facility.
39) The pier and associated structures of the western facility shall have a minimum setback distance of 15
feet between any parts of the structure and the adjacent property owner's area of riparian access.
USACE Conditions
40) In order to further protect the endangered West Indian Manatee, Trichechus manatus, the applicant must
implement the U.S. Fish & Wildlife Service's Guidelines, and strictly adhere to all requirements therein.
The guidelines can be found at http://www.fws.gov/nc-es/mammal/manatee p_uidelines.ndf.
General
41) If a court of competent jurisdiction determines that a party other than the permittee has legal title to any
part of the area approved for development under this permit, this permit shall be null and void as to the
area the court determines is not owned by the permittee. This condition shall take effect on the date such
court judgment becomes final. In such event, the permittee shall consult DCM prior to initiating or
continuing any further development under this permit.
42) This permit shall not be assigned, transferred, sold, or otherwise disposed of to a third party without the
written approval of the Division of Coastal Management.
43) The permittee shall maintain the authorized work in good condition and in conformance with the terms
and conditions of this permit. The permittee is not relieved of this requirement if lN19t hglb dons the
permitted activity without having it transferred to a third party.
MAY 1 0 2022
KIr,Tn.

New Moon Holdings LLC. Permit No. 55-20
Page 6 of 6
ADDITIONAL CONDITIONS
44) The permittee and/or his or her contractor shall meet with a representative of the Division prior to
project initiation.
NOTE: The permittee is advised that if water utilities or new wells are required to service the authorized
development, plans and specifications for all new waterlines should be submitted and approved
by the Public Water Supply Section prior to the initiation of construction. Furthermore, water
supply wells must be approved by the county in which the subject property is located, and local
cross -connection requirements may be required. Public Water Supply can be contacted at (910)
796-7215 or [phone].
NOTE: This permit does not eliminate the need to obtain any additional state, federal or local permits,
approvals or authorizations that may be required.
NOTE: The U.S. Army Corps of Engineers authorized the project by way of Programmatic General
Permit 198060291 (Action ID SAW-2004-01127) reissued 5/8/20.
NOTE: The N.C. Division of Water Resources authorized the proposed project by way of General Water
Quality Certification 4175 and assigned the project DWR Project No. 2020-0108.
NOTE: Future development of the permittee's property may require a modification of this permit.
Contact a representative of the Division at [phone] prior to the commencement of any
such activity for this determination. The permittee is further advised that many non -water
dependent activities are not authorized within 30 feet of the mean high-water level.
NOTE: An application processing fee of $400 was received by DCM for this project. This fee also
satisfied the Section 401 application processing fee requirements of the Division of Water
Resources.
MAY J 0 70n
()CM WILMINGTON.. NC

IIIIIIII I I II IIIIII IIIIIIII I II IIII I III Brend P123a m ons:2,?PROP
Brunswick County, NC Register of Deeds page 1 of 3
„wwmtType __..a _
✓Q1 otalZ& ,___Rev, N$n=Int._�-
k$_ljwG' CkN-I-kSP—Cash$
Refund Cash $ Finance
13 Portions of document are illegible due to condition
Brenda M. Cs Register of Deeds
of original.
12:38:
12-28-2023 t2:3821 .001 Brunswick County, NC ODocument contains seals verified by original
NC REVENUE STAMP: $3980.00 (#799042) instrument that cannot be reproduced or copied.
NORTH CAROLINA GENERAL WARRANTY DEED
Prepared by: James E. McNeil, Attorney At Law
PO Box 6527, Ocean Isle Beach, NC 28469
Delinquent Taxes, if any, will be paid by the closing attorney to the
Brunswick Co. Rev. Dpt., upon disbursement of closing proceeds.
Excise Tax- $3,980.00
Brief Description for the Index: 2.,r3 w(le 7"111T
^t f33/9?-
STATE OF NORTH CAROLINA
COUNTY OF BRUNSWICK
THIS DEED made this 1F1-( day of December,2021 by and
between, J&J Properties of Calabash, I, LLC, and J&J Properties of
Calabash, 11, LLC, both NC Limited Liability Companies, 1812 New
Town Rd. Monroe, NC 28110., GRANTOR, and Southern Marinas
Calabash, LP, GRANTEE, whose permanent mailing address is: 6671 W.
Indiantown Rd. Ste. 50 453, Jupiter, FL, 33458.
The designation GRANTOR and GRANTEE as used herein
shall include said parties, their heirs, successors, and assigns, and shall
include singular, plural, masculine, feminine or neuter as required by
context.
WITNESSETH:
The GRANTOR, for a good and valuable consideration paid by
the GRANTEE, the receipt of which is hereby acknowledged, has and by i CIY I -. f)
these presents does grant, bargain, sell and convey unto the GRANTEE
in Fee Simple, all that certain lot or parcel of land situated in Shallotte MAY 1 0 70
Township, Brunswick County, North Carolina and more particularly
described as follows: DCM WILMINGfON NC
See Exhibit "A" which is attached hereto and
incorporated herein by reference.
This property is not the principal residence of Grantors.

IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 64110 P1236mmons P121.001
Brunswick County, INC Register of Deeds Clepage a of 3
Exhibit "A"
BEING ALL of that Lot 2.53 acre tract of land as shown on that map for J&J Properties of Calabash, I & II,
prepared by Norris & Ward, Land Surveyors, P.A., a copy of which was recorded on December 22, 2021,
in Map Cabinet 133, at Pages 98 of the Brunswick County Registry.
Deed References: Book 2275, Page 45, Book 2237, Page 124, Book 1458, Page 867, Book 2644, Page
1370, Book 2060, Page 188, Page 3238, Page 741, Book 4748, Page 1120, Book 4762, Page 694
RF.GFIVF.F.
MAY I ii 1`i
DGM WILMINGTON idC:

IIIIIIIIIIIIIIIIIIIIIIillllllllllllll 94119 P1235m12-28-2021
oPROP
ns 21
Brunsulek county, NC Register of Deeds page 2 of 3
TO HAVE AND TO HOLD 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
GRANTOR has done nothing to impair such title as GRANTOR
received, and GRANTOR will warrant and defend the title against the
lawful claims of all persons claiming by, under or through GRANTOR,
except for the exceptions hereinafter stated.
Title to the property hereinabove described is subject to the following
exceptions:
IN WITNESS WHEREOF, the GRANTOR has caused this
instrument to be signed in the name of the J&J Properties of Calabash, I
and J&J Properties of Calabash, II, Limited Liability Company, by their
duly authorized Member- Manager, the day and year first above written
immy F. M re, Member- Manager
J&J Proper ies of Calabash, I, LLC
Jimmy F. Moog , Member -Manager
J&J Properties of Calabash, H, LLC
STATE OF NORTH CAROLINA
COUNTY OF
On this .2F)4 day of December,2021, I, the undersigned Notary
Public of the County and State aforesaid, certify that Jimmy F. Moore,
personally appeared before me this day and acknowledged that he is the
Member- Manager of J&J Properties of Calabash, I, LLC, and J&J
Properties of Calabash, 11, LLC, both North Carolina Limited Liability
Companies and that by authority duly given and as act of the Companies,
the foregoing instrument was signe is name by its Membe Manager.
Nootta�ry�Puublicc
My Commission expires: Cr13/O�/2 0 � �—
SEAL OR STAMP
TAMES E. MCNEIL
Notary Public
Brunswick County, NC
My Commission Expires:
RECEIVED
MAY 10 2022
DCM WILMINGTON, NC

STATE OF NORTH CAROLINA
COUNTY OF BRUNSWICK
ASSIGNMENT OF AGREEMENT FOR PURCHASE AND
SALE OF REAL PROPERTY
This Assignment of Purchase and Sale of Real Property Agreement (the "Assignment") made and entered into this
_ day of December, 2021 by and between New Moon Holdings, LLC ("Assignor"); and Southern Marinas
Calabash, LLC ("Assignee').
WITNESSETH:
Whereas, Assignor is party to a that certain Agreement for Purchase and Sale of Real Property with 1&J Properties
1, LLC and 1&1 Properties II, LLC, executed on November 20, 2021 and incorporated by reference herein and
attached hereto as Exhibit "A" (the "Purchase and Sale Agreement") for the purchase of Lots 11-16, Block 2 and
Lots 16-19, Block 3, of River View Acres, Calabash, NC 28467 (the "Property").
Whereas, Assignor and Assignee desire for Assignor to assign to Assignee Assignor's rights and obligations under
the Purchase and Sale Agreement to Assignee. Pursuant to the expiration of the examination period of December
15, 2021, of the Purchase and Sale Agreement, Time is of the Essence in this Assignment.
Whereas, upon the execution of this Assignment, Assignee shall be named as the Insured of the Real Property In an
Owner's Title Insurance Commitment issued by Fidelity National Title Company.
NOW THEREFORE, in consideration of the premises, mutual promises and covenants contained herein to be kept
and performed and other good and valuable consideration, the receipt if which is acknowledged it is agreed:
1. Rights and Obligations Assigned. Assignor hereby assigns to Assignee all of Assignor's rights, privileges,
duties, and obligations under the Purchase and Sale Agreement and Assignee accepts such
assignment.
2. Payments to Assignor. Contemporaneous with the execution of this Assignment, Assignee shall
reimburse Assignor for the earnest money of Seventeen Thousand and 00/100 ($17,000.00) dollars for
all attorney's fees incurred by Assignor in connection with its contemplated purchase of the Property
and the review of this Assignment and the separate consulting agreement between the parties.
3. Binding Effect. This Assignment is binding upon the parties and their assigns or successors in Interest.
4. Choice of Law. This Assignment shall be governed by the laws of the State of North Carolina.
our hNnds and seals the day and year first above written.
LLC by Timothy Moon,
nager
Souther—nl9farinas Calabash, LLC by
Authorized Representative
RECEIVED
MAY 10 2022
DCM WILMINGTON, NC

AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY EXHIBIT A
THIS AGREEMENT, including any and all addenda attached hereto ("Agreement")- is by and between
NEW MOON HOLDINGS, LLC a North Carolina limited liability ComoaBy ("Buyer") and
1 & J PROPERTIES OF CALABASH ILLC and JJ PROPERTIES II, LLC_a NC Limited Liability Company f'Seller'1
(individual or State of formation and type of entity)
FOR AND IN CONSIDERATION OF THE MUTUAL PROMISES SET FORTH HEREIN AND OTHER GOOD AND VALUABLE
CONSIDERATION. THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED. THE PARTIES
HERETO AGREE AS FOLLOWS:
Section 1. Terms and Definitions: The terms listed below shall have the respective meaning given diem as set forth adjacent to each
term.
(a) "Pronertr": (Address)
Plat Reference Lots 11, 12, 13, 14, 15, 16, Block 2 and Lots
:0-11,1e,tYBIOCKJwshowiion FlatBooK or re Is at page im
Brunswick County.
TAX PARCELS: 25ADOOI.255AD002.25AD003, 25AD004.
255AD017. 25ADO18, 25AC012, 25AC013, 25AC014. 25ACOL5
Some or all the Property is described in Deed Book 2275 Page 45, Brunswick County.
3 1.990.000 00 (b) "Purchase Price" shall mean die sum of QNE MILLION NINE HUNDRED NINETY THOUSAND
AND NO/IOD----------------------------------------------------- --Dollars,
payable on thefollowing rerma:
s 17.000.00 0)"BarmaitMonev"shall mean aF-VENTEEN THOUSAND AND NO/100---------- Dollars
or terms as follows:
Upon this Agreement becoming a contract in accordance. with Section 14. the Earnest Money shall be
pmmpdy deposited in m=Nvivith Jame$ MCNeahAttorneyelLaw
Iname of persordenlity, with whom deposited), to be applied as part payment of the Purchase Price of the
Property at Closing, or disbursed as agreed upon under the provisions of Section 10 herein.
IXI ANY EARNEST MONEY DEPOSITED BY BUYER IN A TRUST ACCOUNT MAY BE
PLACED IN AN INTEREST BEARING TRUST ACCOUNT, AND: (check ontr' ONE box,)
0 ANY INTEREST EARNED THEREON SHALL BE APPLIED AS PART PAYMENT OF THE
PURCHASE PRICE OF THE PROPERTY AT CLOSING, OR DISBURSED AS AGREED UPON
UNDER THE PROVISIONS OF SECTION 10 HEREIN. (Buyer's Taxpayer Identification Number
IXI ANY INTEREST EARNED THEREON SHALL BELONG TO THE ACCOUNT HOLDER IN
CONSIDERATION OF THE EXPENSES INCURRED BY MAINTAINING SUCH ACCOUNT
AND RECORDS ASSOCIATED THEREWITH, with any to be disbursed to NC State
Bar IOL Program. Page I ots
borer fnitlal= Seller rnirials ��
NCl,d Assncinion Form N". NC- IQ01? Phisuendad form hasbeen a—r.- ,5.1
J-cu-6,IAere:memniIn,- wiv.As Wiion \anLmciaiioamtastcig.cwrbnn Vo.5801'
Janmc IYiliianrs S Cn. Inc • mhlr.James\5'illianu.eoni Nanh Carelina Association ofnealmrsE.Inc. Inc..- srandaN form SSOT
R R, C: F-. IV I,-,
MAY 1 0 2021
L)CM WILMINGTON, NC

S (ii) Pro cecdsofa new loan inlheamountof _
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Do 11 aV &for a term of
years, with an amortization period not to exceed years, at tat interest rate not to exceed
%per annum with mortgage loan discount points not to exceed % of the loan
amount, orsuch other terms m may beset forth on Exhibit 11. Buyershall pay all costs associated with any
such loan.
$ (ill) Delivery of a promissory note secured by a deed of trust, said promissory note in amount of
being payable over stem[ of _ years, with an amortization period of - years, payable in monthly
installments of principal. together with accrued interest on the outstanding principal balance at the rate
of percent---- 4 ) per nmuun in thcamount ofS
_ . with the first principal payment beginning on the first day ofthe month next succeeding the date
of Closing, or such other terms m may be set forth on Exhibit B. At any time, the promissory note may be
prepaid in whole or in Pon without penalty and without further interest on the amounts prepaid from the date of
such prepayment. (NOTE: In the event of Buyer's subsequent default upon a promissory note and
deed of trust given hereunder, Seller's remedies may be limited to foreclosure of the Property. If the
deed of trust given hereunder is subordinated to senior financing, the material terms or such
financing must be set forth on Exhibit B. If such senior financing is subsequently foreclosed, the
Seller may have no remedy to recover under the note.)
S (iv) Assumption offlo t unpaid obligation of Seller secured by a deed oftrust on the Property. such
obligation having an outstanding principal balanceof5
and evidenced by a note bearing interest at the rate of percent.._ %)
per annum, and a current payment amount ofS .. The obligations of Buyer
under this Agreement are conditioned upon Buyer being able to assume the existing loan described above.
If such assumption requires die ]entices approval, Buyer agrees to use its best efforts to secure such
approval and to advise Seller immediately upon receipt of the lender's decision. Approval must be granted on or
before .On or before this date, Buyer has the right to terminate
this Agreement for failure to be able to assume the loan described above by delivering to Seller written
notice of fornication by the above date, time being of fhe essence. If Buyer delivers such notice, this
.Agreement shall be null and void and Earnest Money shall be refunded to Buyer. If Buyer fails to deliver
such notice, then Buyer will be deemed to have waived the loan condition. Unless provided otherwise in
Section 3 hereof. Buyer shall pay all fees mid costs associated with any such assumption, including any
assumption fee charged by the lender. Ater before Closing. Seller shall assign to Buyer all interest of Seller
in any current reserves or escrows held by the lender, any property management company mid/or Seller.
including but not limited to any tenant improvement reserves, leasing commission reserves, security deposits
and operating or capital reserves for which Seller shall be credited said amounts at Closing
3 1,973,000•00 (OLlilh,balance of Purchase Price, at Closing in the amount of ONE MILLION NINE HUNDRED
SEVENTY -THEME THOUSAND AND N01100:...-
----- —Dollars.
(0 "Chi shall mean the date and time of recording of the deed. Closing shall occur on or before
December 28. 2021or at such later time as provided in Exhibit B
(d) "Contract Dote" means [he date this Agreement hm been fully executed by both Buyer amiSeller.
(c1 "pxmninntinn Period" shall mean the period beginning on the Contract Date and extending through
December 15 2021 at 5700 o'clock om
TIME 19 OF THE ESSENCE AS TO THE F-VI WIN l7IONPERIOD.
(t) „ olicr(s)" shall mean:
\ //'�// jj\\JJ %% Page 2 of $
Buyer lniti !1jj' Shcer initials —A-'. Jul t�•P` -
. //110rr.
Ne Bmnssociotion Farm No. seoTO Ir_o12 nd,:mndard rum, bar ue.:n aapmwedlmnay by:
Printed be Aeazmcm with die NC Bm Association North Catalina Bar Association -NC Be Form No, 5S(fl'
James id ihiamsiCa- inc., sonv.JmnesWiliinms.mm Noah Camlon Aonciartan of Realms.Inc.- SmndaN Form 5saT 'WA 1�
/
11"M wILMIti' NC

NONE ("Listing Agency"I,
("Listing Agent" - Licensee _
.Aetingas:0 Sellers Agent; 0Dual Agent
and NONE ("Selling Agency"),
("'Selling Agent"- License#
Acting as: 0 Buyers Agent; 0 Seller's (Sub)Agent; 0 Dual Agent
(9) ':Nelier's Nonce Address" shall be as follows:
except as some may be changed pursuant to Section 12.
(h) "BnLer's Nntice Addrex<" Shall be asfollows:
Post Office Box 6303
Ocean Isle Beach, NC 28469
except as smile may be changed pursuant to Section 12,
(i) If this block is marked, additional terms of this Aareemwtt are set forth on Exhibit B attached hereto and
incorporated herein by reference. (Note: Under North Carolina law, real estate agents are not permitted to
draft conditions or contingencies to this Agreement.)
Section 2. Stile of Property and Payment of Purchase Price, Seller agrees to sell and Buyer agrees to buy the Pmpeny for the
Purchase Price.
Section 3. Proration of Expenses and Payment of Costs: Seller and Buyer agree that all property taxes (on a calendar year basis).
ICases, rents. mortgage payments and utilities or any other assumed liabilities as detailed on attached Exhibit B, if any, shall be
prorated as of the date of Closing. Seller shall pay for preparation of a deed and all other documents necessary to perform Seller's
obligations tinder this Agreement, excise tax (revenue stamps), any deferred or rollback taxes, and other conveyance fees or taxes
.'.squired by law, and the following:
Buyer shell pay recording costs, costs orally title search, title insurance. survey, the cost ofany inspections or investigations
undertaken by Buyer under this Agreement and the following:
Each party shall pay its own
.Section 4. Deliveries: Seiler agrees to use best efforts to deliver to Buyer as soon as reasonably possible after the Contract Date
copies of all information relating to the Property in possession of or mailable to Seller, including but not limited to: title insurance
policies, surveys and topics of all Presently effective warranties or service contracts related to the Property. Seller authorizes (I) any
attorney presently or previously representing Seller to release and disclose any title insurance policy in such anomey's rile to Buyer
and Will Buyers and Sellers agents and attorneys: and l2) the Property's title insurer or its agent to release and disclose ell mn,alt s
in the Property's title insurer's (or title insmers agenrs) file to Buyer and both Buyers and Sellers agents and attorneys. If Buyer does
not consummate the Closing for any reason other than Seller default, then Buyer shall return to Seller all materials delivered by Seller to
Buyer pursuant to this Section 4 (or Section 7, ifapplicable), Very. and shall, upon Sellers request. provide to Seller copies of (subject to
the ownership and copyright interests of the prepmer thereof) any and all studies, reports, surveys and other information relating directly
to the Property prepared by or at llte request of Buyer, its employees and agents, and shall deliver to Seller, upon the release of the Earnest
%fancy, copies ofall of the foregoing without any warranty or represenialion by Buyer as to the contents, accuracy or correctness thereof.
Section 5. Evidence of Title: Seller agrees to convey fee simple marketable and insurable title to the Property free and clear ofall
liens, eneulliblant nd dBence efects duoftale other than :(a) zoning ordinances affecting the Property, (b) Leases (if applicable) and (e)
Page 3 of S
nnyeNnnial ns EI__
SC car Associmien Germ N". SIrl0 real 'rhi: nandvtl farm aac bttn upp rovediointly hy:
PnnvV b>' Afre<ment+viih cc NC mar Axzoclntion Nara Carolina By Asemiaden- NC Bar rom+No, 380T
Jnnc? A'illiamz.i Cc_ Inc. • a,,,avncsWd1v,nrs an+ Nonh Cuolinn Associaion of liralrors&Jilt. - Snaadard Porn aenT
MAY 10 2022
DMA WILMINcron, NC

matters of record existing at the Contract Date that are not objected to by Buyer prior to the end of the Examination Period ("Permitted
Exceptions"): provided that Seller shall be required to satisfy, at or prior to Closing, any encumbrances that may be satisfied by the
payment of a fixed sum of money, such as deeds of trust, mortgages or statutory liens. Seller shall not enter into or record any
instrument that affects the Property (or any personal property listed on Exhibit A) after die Contract Date without the prior written
consent of Buyer, which consent shall not be unreasonably withheld, conditioned or delayed .
Section 6. Conditions: This Agreement and the rights and obligations of the partles under tills Agreement are hereby made expressly
conditioned upon fulfillment (or waiver by Buyer, whether explicit or implied) of the following conditions:
gat ;Now i non: The Buyer must be able to obtain the loan, if any, referenced in Section 1(b)(ii). Buyer must be able to obtain a
(h'at commitment for this loan on or before ,effective through the date of Closing.
Buyer agrees to use its best efforts to secure such commitment and to advise Seller immediately upon receipt of lender's decision. On
or before the abovedate. Buyer has the tight to terminate this Agreement forfeiture to obtain thelom referenced in Section 1(b)(ii) by
deliverine to Seller written notice of termination by the above date, tittle being of the essence. If Buyer delivers such notice, this
.Agreement shall be null and void and Earnest Money shall be refunded to Buyer. If Buyer fails to deliver such notice, then Buyer will
c,e deemed to have waived the loan condition. Notwithstanding the foregoing, after the above date, Seller may request in writing from
Buyer a copy of me commitment letter. If Buyer fails to provide Seller a copy of the commitment letter within five (5) days of receipt
Of Sellers request, then Seller may terminate this Agreement by written notice to Buyer at anytime thereafter, provided Seller has not
then received a copy of tile commitment letter. and Buver shall receive a return of Earnest Money.
(b) s Oulifeatio_� n for p_nanci • If Buyer is to assume any indebtedness in connection with payment of the Purchase Price.
Saver agrees to use its best efforts to qualify for the assumption. Should Buyer fail to qualify, Buyer shall notify Seller in writing
immediately upon lender's decision, whereupon dais Agreement shall terminate, and Buyerchall receivearetum of Earnest Money.
(c) 271le Ref urination• After the Contract Date, Buyer shall, at Buyers expense, cause a title examination to be made of the
Properly before the end of the Examination Period. In the event that such title examination shall allow that Seller's title is not fee
simple marketable and insurable, subject only to Permitted Exceptions, then Buyer shall promptly notify Seller in writing of all such
title defects and exceptions, in no case later than the end of the Examination Period, and Seller shall have thirty (30) days to cure said
noticed defects. If Seller does not cure the defects or objections within thirty (30) days of notice thereof, then Buyer may terminate
this Agreement and receive a return of Earnest Money (notwithstanding that me Examination Period may have expired). If Buyer is to
Purchase title insurance, the insuring company must be licensed to do business in the state in which the Property is located. Title to the
Property must be insurable at regular rates, subject only to standard exceptions and Permitted Exceptions.
(d) Same_ Condition-, If the Property is not in substantially the same condition at Closing as of the date of the offer. ressonahk
tiger and tear excepted, men the Buyer may (i) terminate this Agreement and receive a return of (lie Earnest Money or (fi) In to
Closing whereupon Buyer shall be entitled to receive, in addition to tlse Property, any of the Sellers insurance proceeds payable rah
account of the damaue or destruction applicable to the Property.
10 Inspections: Buyer, its agents or representatives, at Buyer's expense and at reasonable times during normal business hours,
shall have the right to enter upon the Property for the purpose of inspecting. examining, performing soil boring and other testing.
conducting timber cruises, and surveying the Property. Buyer shall conduct all such on -site inspections, examinations, soil boring and
Other testing, timber cruises and surveying of the Property in a good and workmanlike manner, shall repair any damage to the Property
caused by Buyers entry mid on -site inspections and shall conduct same in a manner that does not unreasonably interfere with Sellers
•.n' any tenant's use and enjoyment of the Property. In that respect, Buyer shall make reasonable efforts to undertake on -site
insoections onside of the hours any tenant's business is open to the public and shall give prior notice to any tenants of any entry onto
wry tenant's portion of the Property for the purpose of conducting inspections. Upon Sellers request Buyer shall provide to Seller
evidence of general liability insurance. Buyer shall also have a right to review and inspect all contracts or other agreements affecting
or related directly to the Property and shall be entitled to review such books and records of Seller that relate directly to the opemtion
and maintenance or the Property, provided, however, that Buyer shall not disclose any information regarding this Property (or any
remant therein) unless required by law and the same shall be regarded as confidential, to any person, except to its attorneys.
accountants. lenders and other professional advisors, in which case Buyer shall obtain their agreement to maintain such
conr,dentiality. Buyer assumes all responsibility tar the acts of itself. its agents or reprmemmives in exercising ifs rights under this
Section 6(e) and agrees to indemnify and hold Seller harmless Gam any damages resulting therefrom. This indemnification obligation
of Buyer shall survive the Closing or earlier termination of this Agreement. Buyer shall, at Buyers expense, promptly repair any
damaee to the Property caused by Buyer's entry and on -site inspections. Except as provided in Seaton 6(c) above, Buyer shall have
d'om the Contract Date through the end of the Examination Period to perform the above inspections, examinations and testing. IF
BUYER CHOOSES NOT TO PURCHASE THE PROPERTY, FOR ANY REASON OR NO REASON, AND PROVIDES
Page 4 WE
lira, ttlnilial Seller Initials
tH,C::EIVF1?
NC''Barby ocialionl'omt\u SNC Bar ss. ThissundA form has been appmvcdjeimip by:
Prime%fl Agreementne. We NC Bon Ao'ocimion North Carolina Bar Association- NC Bar form No. 580T
lames\fillimnts&Co:.inc.•...n. JmnutViLLiums vm Nonh Carolina Asrveimion or Realtors%. lie .-S—LIN Porm 580T
MAY f0M'
D(-M WILMINGTON, NG

WRITTEN NOTICE. TO SELLER THEREOF PRIOR TO THE EXPIRATION OF THE EXAMINATION PERIOD. THEN
THIS AGREEMENT SHALL TERMINATE. AND BUYER SHALL RECEIVE A RETURN OF THE EARNEST MONEY.
Section 7. Leases (Check I'll If ill' following, as applicable):
If this box is checked. Seller affirmatively represents and Warrants that there are no Leases (as hereinafter defined)
affecting the Property.
X If this box is checked. Seller discloses that there are one or more leases affecting the Property (oral or written, recorded or
not "Leases') and the following provisions are hereby made a pan of this Agreement.
(rU All Leases shall be itemized on Exhibit B;
tbl Seller shall deliver copies orally Leases to Buyer pursuant to Section 4 as ifthe Leases were listed therein:
let Seller represents and warrants that as of the Contract Date there are no current defaults (or any existing situation which,
wilh the passage oftime, or the giving of notice. or both, or at the election oFeither landlord or tenant could constitute a default) either
by Seller, as landlord, or by any tenant under any Lease ("Lease Default'). In the event there is any Lease Default as of the Contract
Date. Seller agrees to provide Buyer with a detailed description of the situation in accordance with Section 4. Seller agrees not to
^ommit a Lease Default as Landlord after the Contract Date, and agrees further to notify Buyer immediately in the event a Lease
Default ethics or is claimed. asserted or threatened to be asserted by either Seller or a tenant under theLetem.
(d) In addition to the conditions provided in Section 6 of this Agreement, this Agreement and the rights and obligations of
the Parties underline Ayn'ecment are hereby made expressly conditioned upon the assignment of Sellers interest in any Lease to Buyer
In form and content acceptable to Buyer (with tenant's written consent and acknowledgement if required under the Lease). and Seller
agrees to use its best efforts to effect such assignment. Any assignment required under this Section 7 shall be required to be delivered
at or before Closing by Seller in addition to those deliveries required under Section 11 ofthisAgreement.
le) Seller agrees to deliver an assignment of any Lease at or before Closing, with any security deposits held by Seller under
any Leases to be transferred or credited to Buyer at or before Closing. Seller also agrees to execute and deliver (and work diligently to
obtain any tenant signatures necessary for same) any estoppel certificates and subordination, non disturbance and adornment
agreements in such form as Buyer may reasonably request.
Section S. Environmental: Seller represents and warrants that it has no actual knowledge of the presence or disposal, except as in
accordance with applicable law, within the buildings or on the Property ofhazardmis or toxic waste or substances. which are defined as
those substances, materials, and wastes, including. but not limited to, those substances. materials and wastes listed in the United States
Department of Transportation Hazardous Materials Table (49 CFR Part 172.101) or by the Environmental Protection Agency as
hazardous substances (40 CFR Part 302.4) and amendments thereto. or such substances. materials and wastes. which are or become
regulated under any applicable local, state or federal law, includinۥ without limitation. any material. waste or substance which is
6) petroleum, 6i) asbestos. (iii) polychlorinated biphenyls, lie) designated as a Hazardous Substance pursuant to Section 311 of the
Clean Water Act of 1977 (33 U.S.C. j 1321) or listed pursuant to Section 307 of the Clean Water Act of 1977 (33 U.S.C. i 1317). (s)
defined as a hazardous waste pursuant to Section 1004 ofthe Resource Conservation and Recovery Act of 1976 (42 U.S.C. §6903) or
lvil defined as a hazardous substance pursuant to Section 101 of the Comprehensive Environmental Response. Compensation and
Liability Act of 1990 (42 U.S.C, �960 1). Seller has no actual knowledge ofany contamination ofthe Property from such substances as
may have been disposed ofor stored on neighboring tracts.
Section 9. Risk of LOssrDamagelRepair. Until Closing, the risk of loss or damage to the Property, except as otherwise provided
herein, shall be borne by Seller. Except as to maintaining the Property in its same condition, Seiler shall have no responsibility for the
repair ofthe Property, including any improvements. unless fire parties hereto agree in Writing.
Section 10. Earnest Money Disbursement: In the event that any of the conditions hereto are not satisfied, or in theevent ofa breach
Of this Aereement by Seller, then the Earnest Money shall be retumed to Buyer. but such return shall not affect any other remedies
available to Buyer for such breach. In the event this offer is accepted and Buyer breaches [his Agreement. Oren the Earnest Money
shall be forfeited. but such forfeiture shall not affect any other remedies available to Seller for such breach. NOTE: In the event of a
dispute between Seller and Buyer over rim le remor forfeiture of Earnest Money held in escrow by a licensed real estate broker, the
I is required by state Jaw to retain said Earnest Money in its must or escrow account until it has obtained a written release from
the parties consenting to its disposition or until disbursement is ordered by a court of competent jurisdiction, or alternatively, die part)'
holding the Ear Money may deposit the disputed monies with the appropriate clerk of court in accordance with the provisions of
i
Page J o}8
Omerinilial. L_Sdicrinilials 1 �nC nar,lscoi ion Fonn No star 0 VID I^_ This standaN form hat beano mveJ' `` �. I1,(`�
�Ild be Agrccnlv'nl n kli!hr NC nv,1_."o<�aion Nonh cwolm,, av A ... cWmn. NC av Foam Nnlxao� l
!am s Kill Man & Cr,. lac. • u o n:Janaswil liams cool Nonh Comlina A ... cram omueorsfi. lac. - s.adani lama ss0 r
IIMAY 1 0 r;
f)CM WILMINGTON, NC

N.C.C.S. §93A-12.
Section 11. Closing: At or before Closing. Seller shall deliver to Buyer a general warranty deed unless otherwise specified on Exhibit
B and outer documents customarily executed ordelivered by a seller in similar transactions, including without limitation, a bill ofsale
for any personality listed on Exhibit A. an owners affidavit, lien waiver foals and a non -foreign status affidavit (pursuant to the
Foreign Investment in Real Property Tax Act), and Buyer shal I pay to Sel ler the Purchase Price. At Closing, the Eamest Money shall he
applied as part of the Purchase Price, The Closing shall be conducted by Buyers attorney or handled in such other manner as the
panics hereto may mutually agree in writing. Possession shall be delivered at Closing, unless otherwise agreed herein. The Purchase
Price and other funds to be disbursed pursuant to this Agreement shall not be disbursed until Closing has taken place.
Section 12. Notices: Unless otherwise provided herein, all notices and other communications which may be or are required to be
given or made by any parry to the other in connection herewith shall be in writing and shall be deemed to have been properly given
and received on the date delivered in person or deposited in the United States mail, registered or certified, rotor'] receipt requested, to
the addresses set out in Section l(g) as to Seller and in Section IN as to Buyer, or at such other addresses as specified by written
notice delivered in accordance herewith.
Section 13. Entire Agreement: This Agreement constitutes the sole and entire agreement among rile parties hereto and no
modification offus Agreement shall be binding unless in waiting and signed by all parties hereto.
Section 14. Enforceability: This Agreement shall become a contract liven signed by both Buyer and Seller and such signing is
communicated to both panics; it being expressly agreed that the notice described in Section 12 is not required for effective
communication for the purposes of this Section 14. This Agreement shall he binding upon and more to the benefit ofthe parties, their
heirs. successors and assigns and their personal representatives.
Section 15. Adverse information and Compliance with Laws:
ial Setter Knarvlgdem Seiler has no actual knowledge of (I) condemnation(s) affecting or contemplated with respect to the
Property; (ii) actions, suits or proceedings pending or threatened against the Property; (iii) changes contemplated in any applicable
Imes. ordinances or restrictions affecting the Property; or (iv) governmental special assessments, either pending or confirmed, for
sidewalk. paving, water, saver, or otter improvements on or adjoining the Property, and no pending orconfirned owners' association
special nssessments, except as follows (Insert "None" or the identifleation ofvey matters relating to (i) through (iv) above, if any):
Note: For purposes of this Agreement. a "confirmed" special assessment is defined as an assessment that has been approved by a
governmental agency or rah owners' association for the purposes) stated, whether or not it is fully payable at time of closing. A
"pending' special assessment is defined as an assessment that is under formal consideration by a governing body. Seller shall pay all
owners' association assessments and all govemmental assessments confirmed as of the date of Closing, if any, and Buyer shall take
title subject to all pending assessments disclosed by Seller herein, if my.
Seller represents flat die regular owners' association dues. If any, are$ n/a per n/a
lb) COnmllamac To Seller's actual knowledge. (i) Seller has complied with all applicable laws, ordinances, regulations, statutes.
rules and restrictions pertaining to or affecting the PmPerty; (ii) performance of the Agreement will not result in the breach es.
constitute any default under or result in the imposition of any lien or encumbrance upon me Property under any agreement or other
instrument to which Seller is a party or by which Seller or the Property is bound; and (iii) there are no legal actions, suits or other legal
or administrative proceedings pending or threatened against the Property, and Seller is not aware of any facts which might result in
any such action, suit or oiler proceeding.
Section 16. Survival of Representations and Warranties: All representations, warranties, covenants and agreements made by the
Parties hereto shall survive the Closing and delivery of the deed. Seller shall, at or within six (6) months after the Closing, and
without further consideration, execute, acknowledge and deliver to Buyer such other documents and instruments. and take such other
--lion - Buyer may reasonably request or m any be nccesxury to more effrctively r,on:f r m nuyur eM1e Property tles<ribe0 herein in
accordance with this Agreement.
Section 17. Applicable Law: This Agreement shall be construed under the lams of the state in which the Property is located. This
form h-s Only been approved for use in North Carotin a.
section IS. di'ysltnient: -I hls Agreement i5 freely assignable
l
unless olhenvlse expre,sly provided oil F.xhlblt B.
au}xr inilifls_ _ _� Sellar lniti
Page b oB
NC Ba As.ncio.io�n Form N� ;ROT © b]ol?
Prrntad by A,,mnl ,A We KC Ra Assadotion
This smndard form has Men approvedjoindy by:ree
James wllllam5& Co.. Inc• noir.lomcswillianis.com
NUM nw Cwolina Bar -NC av Fuuo N,1S.T
N.W, Cowl ina Avo.imien or Rcahon&,Inc.- Sbandud Form 5801
C ..
MAY 1
C)(;M WIL.MINGTON, NC;

Section 19. Tax -Deferred Exchange: In the event Buyer or Seller desires to effect a tax -deferred exchange in connection with the
conveyance of the Properly, Buyer and Seller agree to cooperate in effecting such exchange: provided, however, that the exchanging
parry shall be responsible for all additional costs associated with such exchange, and provided further, that a non -exchanging par
shall not assume any additional liability with respect to such tax -deferred exchange. Seller and Buyer shall execute such additional
documents, at no cost to the non -exchanging party, as shall be required to give effect to this provision.
Section 20. Memorandurn of Contract: Upon request by either party, the parties hereto shall execute a memorandum of contract in
recordable form setting forth such provisions hereof (other than the Purchase Price and other sums due) as either party may wish to
incorporate. Such memorandum of contract shall contain a statement that it automatically terminates and the Property is released from
any effect thereby as of a specific date to be stated in the memorandum (which specific date shall be no later than the date of Closing).
The cost of recording such memorandum of contract shalt be bome by the parry requesting execution of same.
Section 21. Authority: Each signatory to this Agreement represents and warrants that he or she has full authority to sign this
Agreement and such instruments as may be necessary to effectuate any transaction contemplated by this Agreement on behalf of the
party for whom he or she signs and that his or her signature binds such party.
Section 22. Brokers: Except as expressly provided herein, Buyer and Seller agree to indemnify and hold each other hamilesc from
any and all claims of brokers, consultants or real estate agents by, through or under the indemnifying party for fees or commissions
arising out of the sale of the Property to Buyer. Buyer and Seller represent and warrant to each other that: (i) except as to the Brokers
desienated under Section I (f) of this Agreement, they have not employed nor engaged any brokers, consultants or teat estate agents to
be involved in this transaction and (ii) that the compensation of the Brokers is established by and shall be governed by separate
agreements entered into as amongst the Brokers, die Buyer and/or the Seller.
B EIFS/SYNTHETIC STUCCO: If the adjacent box is checked. Seller discloses that the Property has been clad previousty
(either in whole or in part) with an "exterior insulating and finishing system" commonly known as "EIFS" or "synthetic stucco".
Seller makes no representations or warranties regarding such system and Buyer is advised to make its own independent determinations
frith respect to conditions related to or occasioned by the existence of such materials at the Properly.
THE NORTH CAROLINA ASSOCIATION OF REALTORS& INC. AND THE NORTH CAROLINA BAR ASSOCIATION
MAKE NO REPRESENTATION AS TO TI4E LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN
ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE
FOR YOUR LEGAL NEEDS. YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU
SIGN IT.
Page 7 of S
a., e, Initial _Seller Initials
VC Bar dvodmm N ioa fares 590T 0I2N 2
Pri.,Wd he Agrccman with me NC Bar Association
James'a illiams C Ca. Inc. • J.a.%Viluansxom
'rhissmndard form hu beeanopw.Mjeintly b.:
Nor ttC Lana BarRmu iadon-NC BarPommtun 59
Noah Carolina Assoeution of Rali ti ,19. In c. - $IandaN Fenn SSOI
uAY r 0 ?0??
DW WILMINGTON, NC

BUYER:
Individual
Date:
L?atE:__________________'_
Business _
11 1 M 0 NG , LLC
iNa a of Entip9
Nan
Date:_ /IP �,(2-/
SELLER:
Individual
By: Jimmy Moore
By: Jo Moore
Business Entity
j &,I PROPERTIES OF CALABASH I G
IL LLC
(Name of Entity)
By
Name:
Date:_ // 2 ,/ Z/
The undersiened hereby acknowledges receipt ofthe Earnest Money se( forth herein and agrees to hold said Earnest Money in
accordance with the teyrFislrereof. James McNeil Attorney at Law
(Name of Finn)
Date: (r/tUA-/ By:
Buccrlahic�'L _$cllurinirials_
NC Bor Association Form No. 58010I/2012
Printed by Acreement 10b WCNC BarAsmciation
James%% ilham. RCa..Jnc........ Jtoa \A%i I liumn.cam
Page 8 of 8
11,isswdard form hasb xn appmrdjointlyby:
North Comlina Bu Association- NC BarFora No.580T
NONi Carolina As iatioa of RedlIONIC. Inc. - Standard Foot 580'1'
R (:F,IVE=.L.)
MAY I f my
f)C..M WILMINGTON, NO,

,.A
extend the Examination Period as provided in Section-5, Paragran V y an additional
period of up to ninety (90) days upon payment too Ey�revs7(ge pp an additional five
thousand dollars ($5,000.00), which" allMfi'l sum shall be considered non-refundable
and at risk should Bu cllt� ose, except in the case of default by Seller. Should the
Examine rod be eMended, Closing of Sale shall occur within thirty (30) days after
(2)
intended Use. Buyer intends to re -zone Lots 16, 17, 18,19 Block 3 and Lots 1 L12,13,14,15,16 B1ock2 of
Riverview Acres for a Marina Dry Stack. Seller is aware of the numerous permits with CAMA,
Brunswick County and the Town of Calabash to permit and build said Dry Stack. Buyer will
spend the money and time necessary to obtain the permits necessary and will keep Seller
appraised of the permit process. In the event, Buyer doesn't retain the permits necessary to
build for said marina usage, Buyer will turn over all surveys, drawings and materials to Seller.
Read and acknowledged:
Initials: �44 U_ �-
MAY10'�'
DCM WILMINUI"ON. NC

#
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