SW6230902_Pending Sales Agreement_20230913

NORTH CAROLINA HARNETT COUNTY
CONTRACT TO PURCHASE
This contract,made and entered into this the 20'day of July 20 2023 by and between J2M2 Holdings,LLC as
SELLER,and as BUYER:Stout Land Development,LLC.
WITNESSETH
THAT SELLER hereby contracts to sell and convey to BUYER,and BUYER hereby contracts to purchase from SELLER,
the following described residential building lot/s,to wit:
Being known as:Subdivision commonly referred to as Stout Cottages Dunn,NC 28335
I. The agreed Sale Price is $ $472,500.00
2. Payable as follows:
Down Payment $ $67,500.00
Balance of Sale Price(payable at closing): $ $405,000.00
3. The land shall be conveyed by SELLER to buyer by General Warranty Deed free of all of all
encumbrances other than taxes for the current year,which shall be prorated as of the closing.The
Deed shall be subject to all Restrictive Covenants,Utility Easements and applicable zoning ordinances
on record at the time of closing.
4. Buyer acknowledges inspecting the property and that no representations or inducements have been
made by the SELLER,other than those set forth herein,and that the Contract contains the entire
agreement between parties.
5. Closing(Final Settlement)is to take place not later than:_Y/-June 2024 at the offices of Single
Source Fayetteville,NC Should BUYER fail to close,the SELLER,at his option,may retain the sum paid
as a DOWN Payment upon the Purchase Price as liquidated damages and declare this Contract null
and void and may proceed to resell the development to a subsequent Buyer,
6. Other Conditions:
Restrictive Covenants for subdivisions are recorded in the Office of the Register of Deeds for Harnett
County In Book_T TBD ,a copy of which has been provided to Buyer.
Building side lines shall be per plat unless otherwise controlled by governmental authority.Property
has been surveyed by Bowman Engineering
Additionally:
• Buyer to pay survey,recording and attorney fees associated with the recording of the
individual lots
• Closing to take place 45 days after all needs approvals/permits have been received or
upon buyer ability to start construction.
IN WITNESS WHEREOF the parties have executed this contract this 20th day of June,2023
SELLER BUYER