SW6231104_Development Agreement_20231115

REAL ESTATE PURCHASE AND SALE AGREEMENT
AND ESCROW INSTRUCTIONS
between
Southern Golf& Land, LLC
a North Carolina limited liability company
as Seller
and
Baseline Development Companies, LLC
a North Carolina limited liability company
as Buyer
AG.vat
Felmittery-LP, 2023
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3.1 Earnest Money. Buyer shall deposit with Escrow Agent the following amounts,
on or before the applicable dates stated below:
3.1.1 -(the "Earnest Money") on or before the Opening of Escrow (as
that term is defined in Section 5)
3.1.2
$5,000.00 (the "Additional Earnest Money") within seven (7) days after the Approval Date (as
defined in 8.6 below) (the Initial Earnest Money together with the Additional Earnest Money and
any interest earned thereon are collectively referred to in this Agreement as the"Earnest Money").
3.2 Balance of the Purchase Price. On or before the Close of Escrow (as that term is
defined in Section 6), Buyer shall deposit with Escrow Agent for Seller's account the balance of
the Purchase Price, which shall be adjusted by the amounts necessary to take into account the
prorations and other adjustments specified in this Agreement.
4 EARNEST MONEY. Escrow Agent is authorized and directed to promptly deposit the
Earnest Money in a federally insured money market account with a commercial bank, subject to
immediate withdrawal without penalty. If Escrow Agent requires additional or different
authorizations or directions prior to depositing the Earnest Money as provided above,then Escrow
Agent shall obtain all necessary authorizations or directions promptly and with diligence. If the
Close of Escrow occurs, the Earnest Money (and the interest earned thereon) shall be applied by
Escrow Agent for the benefit of Buyer to the payment of the Purchase Price. Except as otherwise
provided in this Agreement, if this Agreement and the Escrow are terminated for any reason other
than a default by Buyer, then the Earnest Money (and any interest earned thereon) shall be
immediately paid to Buyer. If,pursuant to this Agreement, Seller is entitled to be paid the Earnest
Money, then Escrow Agent shall immediately pay the Earnest Money (and any interest earned
thereon)to Seller. Buyer and Seller agree that Escrow Agent need not provide notice to or obtain
further instruction from either of them to pay the Earnest Money to Seller or Buyer as provided in
this section. If the Earnest Money is paid to either party upon the termination of this Agreement
and the Escrow, then neither party shall have any further obligation or liability under this
Agreement except for the obligations specified in this Agreement to survive the termination of this
Agreement or the Escrow.
5 OPENING OF ESCROW. The Escrow shall be deemed to open (the "Opening of
Escrow") when the Earnest Money and 1 copy of this Agreement executed by Buyer and Seller
have been delivered to and accepted by Escrow Agent. Escrow Agent shall give Buyer and Seller
prompt written notice of the date of Opening of Escrow and any other dates under this Agreement
that are measured from the Opening of Escrow. Escrow Agent shall deliver I executed copy of
this Agreement to both Buyer and Seller and shall retain 1 copy of this Agreement for its records.
6 CLOSE OF ESCROW. The Escrow shall be deemed to close(the"Close of Escrow")when
the Deed (as that term is defined in Section 12.1.1) is recorded by Escrow Agent. The Close of
Escrow shall occur thirty (30) days after the expiration of the Permitting Period (defined below
and as extended herein). Buyer may elect to close the Escrow at an earlier date by delivering a
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REAL ESTATE PURCHASE AND SALE AGREEMENT
AND ESCROW INSTRUCTIONS
between
James D. Williams
an unmarried man
as Seller
and
Baseline Development Companies, LLC
a North Carolina limited liability company
as Buyer
gay w, 2023

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3.1.1 NM (the "Earnest Money") on or before the Opening of Escrow (as
that term is defined in Section 5)
3.1.2 Mill (the "Additional Earnest Money") within seven (7) days after
the Approval Date(as defined in 8.6 below)(the Initial Earnest Money together with the Additional
Earnest Money and any interest earned thereon are collectively referred to in this Agreement as
the "Earnest Money").
3.2 Balance of the Purchase Price. On or before the Close of Escrow (as that term is
defined in Section 6), Buyer shall deposit with Escrow Agent for Seller's account the balance of
the Purchase Price, which shall be adjusted by the amounts necessary to take into account the
proration and other adjustments specified in this Agreement.
4 EARNEST MONEY. Escrow Agent is authorized and directed to promptly deposit the
Earnest Money in a federally insured money market account with a commercial bank, subject to
immediate withdrawal without penalty. If Escrow Agent requires additional or different
authorizations or directions prior to depositing the Earnest Money as provided above,then Escrow
Agent shall obtain all necessary authorizations or directions promptly and with diligence. If the
Close of Escrow occurs, the Earnest Money (and the interest earned thereon) shall be applied by
Escrow Agent for the benefit of Buyer to the payment of the Purchase Price. Except as otherwise
provided in this Agreement, if this Agreement and the Escrow are terminated for any reason other
than a default by Buyer, then the Earnest Money (and any interest earned thereon) shall be
immediately paid to Buyer. If,pursuant to this Agreement, Seller is entitled to be paid the Earnest
Money, then Escrow Agent shall immediately pay the Earnest Money (and any interest earned
thereon) to Seller. Buyer and Seller agree that Escrow Agent need not provide notice to or obtain
further instruction from either of them to pay the Earnest Money to Seller or Buyer as provided in
this section. If the Earnest Money is paid to either party upon the termination of this Agreement
and the Escrow, then neither party shall have any further obligation or liability under this
Agreement except for the obligations specified in this Agreement to survive the termination of this
Agreement or the Escrow.
5 OPENING OF ESCROW. The Escrow shall be deemed to open (the "Opening of
Escrow") when the Earnest Money and 1 copy of this Agreement executed by Buyer and Seller
have been delivered to and accepted by Escrow Agent. Escrow Agent shall give Buyer and Seller
prompt written notice of the date of Opening of Escrow and any other dates under this Agreement
that are measured from the Opening of Escrow. Escrow Agent shall deliver 1 executed copy of
this Agreement to both Buyer and Seller and shall retain 1 copy of this Agreement for its records.
6 CLOSE OF ESCROW. The Escrow shall be deemed to close(the"Close of Escrow")when
the Deed (as that term is defined in Section 12.1.1) is recorded by Escrow Agent. The Close of
Escrow shall occur thirty (30) days after the expiration of the Permitting Period (defined below
and as extended herein). Buyer may elect to close the Escrow at an earlier date by delivering a
written notice (a "Closing Notice") to Seller and Escrow Agent specifying an earlier date for the
Close of Escrow,which shall be no sooner than 5 days after Buyer delivers the Closing Notice. If
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IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement as of the Effective
Date.
SELLER:
James D. Williams
an unmarried man ‘1214,MC'
By:
Name: mes D. illiams
Date: 3 - 3- 26 9-�
BUYER:
Baseline Development Companies, LLC, LLC
a North Carolina limited liability company
By:
Name: David A. Long
Title: Manager
Date:
[Remainder of page intentionally left blank]
ESCROW AGENT ACCEPTANCE:
Escrow Agent hereby agrees to be bound by the provisions of and to perform its
obligations as set forth in this Agreement, and to prepare and file all necessary information,
reports, and returns regarding the transactions contemplated by this Agreement that may be
required by the Internal Revenue Code of 1986 (the "Code"), including, but not limited to,
Internal Revenue Service Form 1099-B and all other forms required by Section 6045 of the
Code. Escrow Agent agrees to indemnify, hold harmless, and defend Buyer and Seller for, from,
19

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IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement as of the Effective
Date.
SELLER:
Southern Land& Golf, LLC
a North Carolina limited liability company
By:
Name: Signed in
Title: Counterpart
Date:
BUYER:
Baseline Development Companies, LLC, LLC
a Nort olin limited liability company
By: AZAras--
Name: David A.Long
Title: Manager
Date: 03/06/23
[Remainder of page intentionally left blank'
19

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ASSIGNMENT OF PURCHASE AND SALE AGREEMENT
This Assignment of Purchase and Sale Agreement (the "Assignment") is made as of
August 8 , 2023 by and between Baseline Development Companies, LLC (hereinafter
referred to as "Assignor") and West End Development Group, LLC, a North Carolina
limited liability company (hereinafter referred to as"Assignee").
WITNESSETH:
WHEREAS, Assignor entered into a certain Purchase and Sale Agreement (the
"Contract"), by and between Assignor, as the Purchaser and Southern Golf& Land, LLC, as
the Seller (the "Seller"), relative to the purchase and sale of that parcel of real property (the
"Property") located in the County of Moore, State of North Carolina, and being more particularly
described on Exhibit"A" attached hereto and made a part hereof for all purposes; and
WHEREAS, the Assignor desires to assign to the Assignee all of its rights, title and
interest in and to the Contract, and the Assignee desires to acquire the interest of the Assignor in
and to the Contract and assume all obligations of Assignor under the Contract.
NOW, THEREFORE, in consideration of the premises described above, and for $10.00
and other good and valuable consideration paid by Assignee to Assignor, the receipt and
sufficiency of which are hereby acknowledged by Assignor, the parties agree as follows:
1. Assignor does hereby assign, transfer and convey to the Assignee all of its rights,
title and interest in and to the Contract and any earnest money thereunder.
2. The Assignee hereby accepts such assignment and assumes all duties, obligations
and benefits of the Assignor under the Contract and agrees to be bound thereby.
3. This Assignment may be executed in multiple counterparts which, when taken
together, shall constitute a single integrated instrument. Facsimile signatures shall
be accepted as originals for purposes of this Assignment.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
Assignment of Contract
Page I of 2

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ASSIGNMENT OF PURCHASE AND SALE AGREEMENT
This Assignment of Purchase and Sale Agreement (the "Assignment") is made as of
August 8 , 2023 by and between Baseline Development Companies, LLC (hereinafter
referred to as "Assignor") and West End Development Group, LLC, a North Carolina
limited liability company (hereinafter referred to as"Assignee").
WITNESSETH:
WHEREAS, Assignor entered into a certain Purchase and Sale Agreement (the
"Contract"), by and between Assignor, as the Purchaser and James D. Williams. as the Seller
(the "Seller"), relative to the purchase and sale of that parcel of real property (the "Property")
located in the County of Moore, State of North Carolina, and being more particularly described
on Exhibit"A" attached hereto and made a part hereof for all purposes: and
WHEREAS, the Assignor desires to assign to the Assignee all of its rights, title and
interest in and to the Contract, and the Assignee desires to acquire the interest of the Assignor in
and to the Contract and assume all obligations of Assignor under the Contract.
NOW. THEREFORE, in consideration of the premises described above, and for $10.00
and other good and valuable consideration paid by Assignee to Assignor, the receipt and
sufficiency of which are hereby acknowledged by Assignor, the parties agree as follows:
I. Assignor does hereby assign, transfer and convey to the Assignee all of its rights,
title and interest in and to the Contract and any earnest money thereunder.
2. The Assignee hereby accepts such assignment and assumes all duties, obligations
and benefits of the Assignor under the Contract and agrees to be bound thereby.
3. This Assignment may be executed in multiple counterparts which, when taken
together, shall constitute a single integrated instrument. Facsimile signatures shall
be accepted as originals for purposes of this Assignment.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
Assignment of Contract
Page I of 2

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air5t .''''tLIMITED LIABILITY COMPANY ANNUAL REPORT
1/6i2O22
NAME OF LIMITED LIABILITY COMPANY: Southern Golf and Land, L.L.C.
FNing Office Use Only
SECRETARY OF STATE ID NUMBER: 1396349 STATE OF FORMATION: NC E-Filed Annual Report
1396349
CA202309410378
2023
REPORT FOR THE CALENDAR YEAR: 4/4/2023 06:00
SECTION A: REGISTERED AGENTS INFORMATION (Changes
1. NAME OF REGISTERED AGENT: Phillips, Michael T.
2. SIGNATURE OF THE NEW REGISTERED AGENT:
SIGNATURE CONSTITUTES CONSENT TO THE APPOINTMENT
3. REGISTERED AGENT OFFICE STREET ADDRESS&COUNTY 4. REGISTERED AGENT OFFICE MAILING ADDRESS
215 Surry Circle North 215 Surry Circle North
Pinehurst, NC 28374-8426 Moore County Pinehurst, NC 28374-8426
SECTION B: PRINCIPAL OFFICE INFORMATION
1. DESCRIPTION OF NATURE OF BUSINESS: real estate
2. PRINCIPAL OFFICE PHONE NUMBER: [phone] x 3.PRINCIPAL OFFICE EMAIL: Privacy Redaction
4. PRINCIPAL OFFICE STREET ADDRESS 5.PRINCIPAL OFFICE MAILING ADDRESS
215 SURRY CIR N 215 SURRY CIR N
PINEHURST, NC 28374-8426 PINEHURST, NC 28374-8426
6. Select one of the following If applicable. (Optional see instructions)
The company is a veteran-owned small business
The company is a service-disabled veteran-owned small business
SECTION C: COMPANY OFFICIALS(Enter additional company officials in Section E.)
NAME: Michael T. Phillips NAME: NAME:
TITLE: Manager TITLE: TITLE:
ADDRESS: ADDRESS: ADDRESS:
215 Surry Circle North
Pinehurst, NC 28374
SECTION D: CERTIFICATION OF ANNUAL REPORT. Section D must be completed in its entirety by a person/business entity.
Michael T. Phillips 4/4/2023
SIGNATURE DATE
Form must be signed by a Company Official listed under Section C of This form.
Michael T. Phillips Manager
Print or Type Name of Company Official Print or Type Title of Company Official
This Annual Report has been filed electronically.
MAIL TO:Secretary of State. Business Registration Division,Post Office Box 29525,Raleigh,NC 27626-0525

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BOOK5809 - PAGE 51
For Registration Register of Deeds
Judy D. Martin
Moore County, NC
Electronically Recorded
March 8, 2022 12:49:57 PM
Book: 5809 Page: 51 - 53 #Pages: 3
Fee: $26.00 NC Rev Stamp:S80.00
Instrument# 2022004074
Brief description for the Index: Stamps: $80.00
Lots 1 & 2,C. W. Ritter Tract—Parcel Id. Portion of 00021818
This instrument was prepared by: Sandhills Law Group NO TITLE SEARCH COMPLETED 8Y PREPARER
NORTH CAROLINA GENERAL WARRANTY DEED
THIS DEED made this day of March 2022 , by and between,
GRANTOR GRANTEE
Southern Golf and Land, LLC James D. Williams
Mailing Address: Mailing Address:
235 W. New Hampshire Ave
215 Surry Circle North Southern Pines,NC 28387
Pinehurst,NC 28374 Property Address:
TBD Hwy 73
West End, NC, 27376
WITNESSETH, that the Grantor, for a valuable consideration paid by the Grantee, the receipt of
which is hereby acknowledged,have bargained and sold,and by these presents do grant,bargain,sell
and convey unto the Grantee in fee simple, all that certain lot, tract, or parcel of land situated in
Mineral Springs Township,Moore County,North Carolina, and more particularly described as
follows:
Being all of Lots 1 and 2, C.W. Ritter Tract,as shown on a plat thereof
recorded in the Office of the Register of Deeds of Moore County, North
Carolina in Nat Cabinet 19, Slide 278.
TBD Hwy 73. West End, NC, 2 73 76
Properly Identification Number--Portion of 00021818
submitted electronically by "Sandhills Law Group"
in compliance with North Carolina statutes governing recordable documents
and the terms of the submitter agreement with the Moore county Register of Deeds.

'-',. ..-.-!•b

BOOK5604 - PAGE 221
For Registration Register of Deeds
Judy D. Martin
Moore County, NC
Electronically Recorded
April 30, 2021 9:36:21 AM
Book: 5604 Page: 221 - 224 #Pages: 4
Fee: $26.00 NC Rev Stamp:$245.00
Instrument# 2021010133
SPECIAL WARRANTY DEED
THIS INSTRUMENT PREPARED BY:
John Hall Greenbacks:,Esq.
Lorenz&Creed Law Finn,PLLC
230 N.Bennett Street
Southern Pines,NC 28387
TO BE RECORDED IN THE
DEED RECORDS OF
MOORE COUNTY,NC
Excise Tax:S 245.00 `
THIS DEED made this day of 1 l ,2021,by and betwe n:
MAK= 9BMEI'EZ
TRUIST BANK F/K/A BRANCH BANKING SOUTHERN GOLF&LAND,LLC,a North
AND TRUST COMPANY,AS TRUSTEE OP Carolina Limited Liability Caapany
THE MARY R.LEWIS REVOCABLE TRUST Tax address:
U/A/D SEPTEMBER 13,1919 215 Surry Circle Drive North
Pinehurst,NC 28374
WITIq,SSFTA:
The designation Grantor and Grantee as used herein shall include said parties,their heirs,successors,and
assign,and shall include singular,plural,masculine,feminine ininne or neuter as required by context.
WITNESSETH,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 is fee
simple. all that certain lot or parcel of land(referred to in the singular,whether one or more)situated in
Moore County,North Carolina,and more particularly described as folksy*:
See Exhibit "A" attacked hereto and incorporated herein by reference for a
description of the real property hereby canw yed. The real property described an
Exhibit"A"attached hereto is hereby Incorporated herein by reference to the same
extent as if set forth herein in Its entirety.
Submitted electronically by "Lorenz & creed Law Firm PLLC"
in compliance with North Carolina statutes governing recordable documents
and the terms of the submitter agreement with the Moore County Register of Deeds.

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BOOK5896 - PAGE 149
For Registration Register of Deeds
Judy D. Martin
Moore County, NC
Electronically Recorded
August 12, 2022 8:38:38 AM
Book. 5896 Page: 149 - 150 #Pages: 2
Fee:$26.00 NC Rev Stamp:$0.00
Instrument# 2022013908
GENERAL WARRANTY DEED
THIS INSTRUMENT PREPARED BY:
Michelle Stinnett, Esq.
Lorenz&Creed Law Firm, PLLC
230 N. Bennett Street
Southern Pines,NC 28387
TO BE RECORDED IN THE
DEED RECORDS OF
MOORE COUNTY,NC
Excise Tax:S-0-NTC
THIS DEED made this_ \ day of August,2022,by and between:
GRANTOR GRANTEE
SOUTHERN GOLF AND LAND,L.L.C.,a SOUTHERN GOLF AND LAND,L.L.C.,a
North Carolina Limited Liability Company North Carolina Limited Liability Company
215 Surry Circle North 215 Surry Circle North
Pinehurst,NC 28374 Pinehurst,NC 28374Mmetal Springs
WITNESSETH:
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 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, all that certain lot or parcel of land (referred to in the singular, whether one or more)situated in
McNeill Township,Moore County,North Carolina,and more particularly described as follows:
Being all of Tract 1-42,as shown on that certain map entitled"Reeombination of Southern Gotland Land,LLC Property,
West End,NC,Mineral Springs Twp.,Moore County,NC",dated Aprd 28,2021 made by Benny L Brown,Professional
Surveyor and recorded in the Office of the Register of Deeds of Moore County,North Carofma in Plat Cabinet 18,Slide 920.
submitted electronically by "Lorenz & Creed Law Firm PLLC"
in compliance with North Carolina statutes governing recordable documents
and the terms of the submitter agreement with the Moore County Register of Deeds.
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