20160031 Ver 1_401 Application_20160116

Quible
Quible & Associates, P.C.
ENGINEERING • ENVIRONMENTAL SCIENCES • PLANNING • SURVDING
SINCE 1959
Jennifer Burdette
NCDWR, 401 & Buffer Permitting Unit
1617 Mail Service Center
Raleigh, NC 27699-1617
January 6, 2016
RE: Lot 67 Pamlico Point
Ocracoke, Hyde County, North Carolina
Nationwide 18 and 401 Certification
Ms. Burdette,
P.O. Drawer 870
Kety Hb k NC 27949
Phase: 252-491-8147
Fax: [phone]
web: quible.c
20160031
Enclosed is a Nationwide 18 and 401 Water Quality Certification submission for 0.10 acres of
Section 404 wetland impacts associated with a single family residential home site, including on-
site septic.
Enclosed are 4 sets of the following:
• Agent Authorization Statement
• Site Plan
• PCN Application
• Confirmed Section 404 Wetland Delineation
• USGS Vicinity Map
• $240 Processing Fee Check to NCDENR
• DMS Acceptance Letter
• Copy of the Hyde County on-site wastewater system Improvement Permit
A. Wolcott Contract to Purchase
• Property Deed
Please review and process this permit request. If you have any questions or require additional
information, please contact me at [phone].
Sincerely,
Quible \&& Associates, P.C.
Brian Rubino�1
CC: Anthony Scarbraugh, NCDWR
Alex Wolcott, Coastal NC Holdings

Office Use Only:
Corps action ID no.
DWQ project no.
Form Version 1.3 Dec 10 2008
Page 1 of 11
PCN Form — Version 1.3 December 10, 2008 Version
Pre -Construction Notification (PCN) Form
A.
Applicant Information
1.
Processing 440
Q
1a.
Type(s) of approval sought from the
Corps:
®Section 404 Permit ❑Section 1W, efmit
%f
1 b.
Specify Nationwide Permit (NW P) number: 18 or General Permit (GP) number:
1c.
Has the NWP or GP number been verified by the Corps?
® Yes
❑ No
1d.
Type(s) of approval sought from the DWQ (check all that apply):
® 401 Water Quality Certification — Regular ❑ Non -404 Jurisdictional General Permit
❑ 401 Water Quality Certification — Express ❑ Riparian Buffer Authorization
le.
Is this notification solely for the record
because written approval is not required?
For the record only for DWQ 401
Certification:
❑ Yes ® No
For the record only for Corps Permit:
❑ Yes ® No
1f.
Is payment into a mitigation bank or in -lieu fee program proposed for mitigation
of impacts? If so, attach the acceptance letter from mitigation bank or in -lieu
fee program.
® Yes
❑ No
1g.
Is the project located in any of NC's twenty coastal counties. If yes, answer 1 h
below.
® Yes
❑ No
1h.
Is the project located within a NC DCM Area of Environmental Concern (AEC)?
❑ Yes
® No
2.
Project Information
2a.
Name of project:
Lot 67 Pamlico Point
2b.
County:
Hyde
2c.
Nearest municipality/ town:
Ocracoke
2d.
Subdivision name:
Pamlico Point
2e.
NCDOT only, T.I.P. or state
project no:
3.
Owner Information
3a.
Name(s) on Recorded Deed:
Applicant: Alex Wolcott, Coastal NC Holdings Owner: Shearwater Development
Group, LLC
3b.
Deed Book and Page No.
3c.
Responsible Party (for LLC if
applicable):
Alex Wolcott
3d.
Street address:
216 69th Street, Unit B
3e.
City, state, zip:
Virginia Beach, VA 23451
3f.
Telephone no.:
757-477-6867
3g.
Fax no.:
3h.
Email address:
Page 1 of 11
PCN Form — Version 1.3 December 10, 2008 Version

4. Applicant Information (if different from owner)
4a. Applicant is:
® Agent ❑ Other, specify:
4b. Name:
4c. Business name
(if applicable):
4d. Street address:
4e. City, state, zip:
4f. Telephone no.:
4g. Fax no.:
4h. Email address:
5. Agent/Consultant Information (if applicable)
5a. Name:
Brian Rubino
5b. Business name
(if applicable):
Quible & Associates, P.C.
5c. Street address:
P.O. Drawer 870
5d. City, state, zip:
Kitty Hawk, NC 27949
5e. Telephone no.:
252.261.3300
5f. Fax no.:
252.261.1260
5g. Email address:
[e-mail]
Page 2 of 11

B.
Project Information and Prior Project History
1.
Property Identification
1 a.
Property identification no. (tax PIN or parcel ID):
Pin #: 9500-67-1988
1 b. Site coordinates (in decimal degrees):
Latitude: 35.107775°N Longitude: - 75.969490°W
(DD.DDDDDD) (-DD.DDDDDD)
1 c.
Property size:
0.15 acres
2.
Surface Waters
2a. Name of nearest body of water (stream, river, etc.) to
Pamlico Sound
proposed project:
2b. Water Quality Classification of nearest receiving water:
SA
2c.
River basin: map is available at
Tar -Pamlico
hftp://h2o.enr.state.nc.us/admin/maps/
3.
Project Description
3a.
Describe the existing conditions on the site and the general land use in the vicinity of the project at the time of this
application:
Single Family Residential. Nearby properties include single family residential home sites and undeveloped wetlands and
uplands.
3b.
List the total estimated acreage of all existing wetlands on the property:
0.10
3c. List the total estimated linear feet of all existing streams (intermittent and perennial) on the property:
0
3d.
Explain the purpose of the proposed project:
The purpose of this wetland impact permit request is for minor wetland fill impacts associated with the fill of 0.09 acres of
wooded Section 404 wetlands for a residential home site. The on-site septic treatment system will be located in the
location as permitted by Hyde county Health Dept. (see enclosed Improvement Permit).
3e.
Describe the overall project in detail, including the type of equipment to be used:
Proposed building construction and associated grading will require minor wetland impacts. Equipment will include
bulldozer, backhoe, and dump trucks.
Page 3 of 11
PCN Form — Version 1.3 December 10, 2008 Version

4.
Jurisdictional Determinations
4a.
Have jurisdictional wetland or stream determinations by the
Corps or State been requested or obtained for this property /
project (including all prior phases) in the past?
Comments:
® Yes ❑ No ❑ Unknown
4b.
If the Corps made the jurisdictional determination, what type
of determination was made?
El Preliminary ®Final
4c.
If yes, who delineated the jurisdictional areas?
Name (if known):
Agency/Consultant Company: Quible & Associates, P.C.
Other:
4d.
If yes, list the dates of the Corps jurisdictional determinations or State determinations and attach documentation.
5.
Project History
5a.
Have permits or certifications been requested or obtained for
this project (including all prior phases) in the past?
❑ Yes ® No ❑ Unknown
5b.
If yes, explain in detail according to "help file" instructions.
6.
Future Project Plans
6a.
Is this a phased project?
❑ Yes ® No
6b.
If yes, explain.
Page 4 of 11

C. Proposed Impacts Inventory
1. Impacts Summary
1 a. Which sections were completed below for your project (check all that apply):
® Wetlands ❑ Streams - tributaries ❑ Buffers
❑ Open Waters ❑ Pond Construction
2. Wetland Impacts
If there are wetland impacts proposed on the site, then complete this question for each wetland area impacted.
2a.
2b.
2c.
2d.
2e.
2f.
Wetland impact
Type of jurisdiction
number —
Type of impact
Type of wetland
Forested
(Corps - 404, 10
Area of impact
Permanent (P) or
(if known)
DWQ — non -404, other)
(acres)
Temporary T
W1 ®P ❑ T
fill
shrub 404/
❑ Yes
® Corps
0.1
non -riparian
® No
❑ DWQ
W2 ❑ P ❑ T
❑ Yes
❑ Corps
❑ No
❑ DWQ
W3 ❑ P ❑ T
❑ Yes
❑ Corps
❑ No
❑ DWQ
W4 ❑ P ❑ T
❑ Yes
❑ Corps
❑ No
❑ DWQ
W5 ❑ P ❑ T
❑ Yes
❑ Corps
❑ No
❑ DWQ
W6 ❑ P ❑ T
❑ Yes
❑ Corps
❑ No
❑ DWQ
2g. Total wetland impacts
0.1
2h. Comments:
3. Stream Impacts
If there are perennial or intermittent stream impacts (including temporary impacts) proposed on the site, then complete this
question for all stream sites impacted.
3a.
3b.
3c.
3d.
3e.
3f.
3g.
Stream impact
Type of impact
Stream name
Perennial
Type of jurisdiction
Average
Impact
number -
(PER) or
(Corps - 404, 10
stream
length
Permanent (P) or
intermittent
DWQ — non -404,
width
(linear
Temporary (T)
(INT)?
other)
(feet)
feet)
S1 ❑ P ❑ T
❑ PER
❑ Corps
❑ INT
❑ DWQ
S2 ❑ P ❑ T
❑ PER
❑ Corps
❑ INT
❑ DWQ
S3 ❑ P ❑ T
❑ PER
❑ Corps
❑ INT
❑ DWO
S4 ❑ P ❑ T
❑ PER
❑ Corps
❑ INT
❑ DWQ
S5 ❑ P ❑ T
❑ PER
❑ Corps
❑ INT
❑ DWQ
S6 ❑ P ❑ T
❑ PER
❑ Corps
❑ INT
❑ DWQ
3h. Total stream and tributary impacts
3i. Comments:
Page 5 of 11

4. Open Water Impacts
If there are proposed impacts to lakes, ponds, estuaries, tributaries, sounds, the Atlantic Ocean, or any other open water of
the U.S. then individually list all open water impacts below.
4a.
4b.
4c.
4d.
4e.
Open water
Name of waterbody
impact number —
(if applicable)
Type of impact
Waterbody type
Area of impact (acres)
Permanent (P) or
Temporary T
01 ❑P❑T
02 ❑P❑T
03 ❑P❑T
04 ❑P❑T
4f. Total open water impacts
4g. Comments:
5. Pond or Lake Construction
If pond or lake construction proposed, then complete the chart below.
5a.
5b.
5c.
5d.
5e.
Wetland Impacts (acres)
Stream Impacts (feet)
Upland
Pond ID
Proposed use or purpose
(acres)
number
of pond
Flooded
Filled
Excavated
Flooded
Filled
Excavated
Flooded
P1
P2
5f. Total
5g. Comments:
5h. Is a dam high hazard permit required?
❑ Yes ❑ No If yes, permit ID no:
5i. Expected pond surface area (acres): -
5j. Size of pond watershed (acres):
5k. Method of construction:
6. Buffer Impacts (for DWQ)
If project will impact a protected riparian buffer, then complete the chart below. If yes, then individually list all buffer impacts
below. If any impacts require mitigation, then you MUST fill out Section D of this form.
6a.
❑ Neuse F1 Tar -Pamlico F1 Other:
Project is in which protected basin?
❑ Catawba ❑ Randleman
6b.
6c.
6d.
6e.
6f.
6g.
Buffer impact
number —
Reason
Buffer
Zone 1 impact
Zone 2 impact
Permanent (P) or
for
Stream name
mitigation
(square feet)
(square feet)
Temporary T
impact
required?
B1 ❑P❑T
El Yes
❑ No
B2 ❑ P ❑ T
❑ Yes
❑ No
B3 ❑ P ❑ T
❑ Yes
❑ No
6h. Total buffer impacts
6i. Comments:
Page 6 of 11

D. Impact Justification and Mitigation
1. Avoidance and Minimization
1 a. Specifically describe measures taken to avoid or minimize the proposed impacts in designing project.
Fill will be sloped and stabilized; septic system is located as far as possible from wetlands.
b. Specifically describe measures taken to avoid or minimize the proposed impacts through construction techniques.
Silt fencing to be maintained until disturbed area is stabilized with grass.
2. Compensatory Mitigation for Impacts to Waters of the U.S. or Waters of the State
2a. Does the project require Compensatory Mitigation for
impacts to Waters of the U.S. or Waters of the State?
® Yes ❑ No
2b. If yes, mitigation is required by (check all that apply):
❑ DWQ ® Corps
2c. If yes, which mitigation option will be used for this
project?
❑ Mitigation bank
®Payment to in -lieu fee program
❑ Permittee Responsible Mitigation
3. Complete if Using a Mitigation Bank
3a. Name of Mitigation Bank:
3b. Credits Purchased (attach receipt and letter)
Type
Quantity
3c. Comments:
4. Complete if Making a Payment to In -lieu Fee Program
4a. Approval letter from in -lieu fee program is attached.
® Yes
4b. Stream mitigation requested:
linear feet
4c. If using stream mitigation, stream temperature:
❑ warm ❑ cool ❑cold
4d. Buffer mitigation requested (DWQ only):
square feet
4e. Riparian wetland mitigation requested:
acres
4f. Non -riparian wetland mitigation requested:
0.25 acres
4g. Coastal (tidal) wetland mitigation requested:
acres
4h. Comments:
Page 7 of 11
PCN Form — Version 1.3 December 10, 2008 Version

5. Complete if Using a Permittee Responsible Mitigation Plan
5a. If using a permittee responsible mitigation plan, provide a description of the proposed mitigation plan.
6. Buffer Mitigation (State Regulated Riparian Buffer Rules) — required by DWQ
6a. Will the project result in an impact within a protected riparian buffer that requires
buffer mitigation? If yes, you will have to fill out this entire form — please
contact the State for more information.
❑ Yes ® No
6b. If yes, then identify the square feet of impact to each zone of the riparian buffer that requires mitigation. Calculate the
amount of mitigation required.
Zone
6c.
Reason for impact
6d.
Total impact
(square feet)
Multiplier
6e.
Required mitigation
(square feet)
Zone 1
3 (2 for Catawba)
Zone 2
1.5
6f. Total buffer mitigation required:
6g. If buffer mitigation is required, discuss what type of mitigation is proposed (e.g., payment to private mitigation bank,
permittee responsible riparian buffer restoration, payment into an approved in -lieu fee fund).
6h. Comments:
Page 8 of 11

E.
Stormwater Management and Diffuse Flow Plan (required by DWQ)
1.
Diffuse Flow Plan
la. Does the project include or is it adjacent to protected riparian buffers identified
❑ Yes ®No
within one of the NC Riparian Buffer Protection Rules?
1 b.
If yes, then is a diffuse flow plan included? If no, explain why.
❑ Yes ❑ No
Comments:
2.
Stormwater Management Plan
2a.
What is the overall percent imperviousness of this project?
26.5%
2b.
Does this project require a Stormwater Management Plan?
❑ Yes ® No
2c.
If this project DOES NOT require a Stormwater Management Plan, explain why: This
is low density residential
construction on an existing platted lot.
2d.
If this project DOES require a Stormwater Management Plan, then provide a brief, narrative description of the plan:
❑ Certified Local Government
2e.
Who will be responsible for the review of the Stormwater Management Plan?
❑ DWQ Stormwater Program
❑ DWQ 401 Unit
3.
Certified Local Government Stormwater Review
3a.
In which local government's jurisdiction is this project?
Hyde County
❑ Phase II
❑ NSW
3b.
Which of the following locally -implemented stormwater management programs
❑ USMP
apply (check all that apply):
❑ Water Supply Watershed
❑ Other:
3c. Has the approved Stormwater Management Plan with proof of approval been
❑ Yes _ ❑ No
attached?
4.
DWQ Stormwater Program Review
❑ Coastal counties
❑ HQW
4a.
Which of the following state -implemented stormwater management programs apply
❑ ORW
(check all that apply):
❑ Session Law 2006-246
❑ Other:
4b.
Has the approved Stormwater Management Plan with proof of approval been
El Yes El No
attached?
5.
DWQ 401 Unit Stormwater Review
5a.
Does the Stormwater Management Plan meet the appropriate requirements?
❑ Yes ❑ No
5b. Have all of the 401 Unit submittal requirements been met?
❑ Yes ❑ No
Page 9 of 11
PCN Form — Version 1.3 December 10, 2008 Version

F. Supplementary Information
1. Environmental Documentation (DWQ Requirement)
1 a. Does the project involve an expenditure of public (federal/state/local) funds or the
❑ Yes ® No
use of public (federal/state) land?
1 b. If you answered "yes" to the above, does the project require preparation of an
environmental document pursuant to the requirements of the National or State
❑ Yes ❑ No
(North Carolina) Environmental Policy Act (NEPA/SEPA)?
1 c. If you answered "yes" to the above, has the document review been finalized by the
State Clearing House? (If so, attach a copy of the NEPA or SEPA final approval
El Yes F1 No
letter.)
Comments:
2. Violations (DWQ Requirement)
2a. Is the site in violation of DWQ Wetland Rules (15A NCAC 2H .0500), Isolated
Wetland Rules (15A NCAC 2H .1300), DWQ Surface Water or Wetland Standards,
❑ Yes ® No
or Riparian Buffer Rules (15A NCAC 2B .0200)?
2b. Is this an after -the -fact permit application?
❑ Yes ® No
2c. If you answered "yes" to one or both of the above questions, provide an explanation of the violation(s):
3. Cumulative Impacts (DWQ Requirement)
3a. Will this project (based on past and reasonably anticipated future impacts) result in
❑ Yes ® No
additional development, which could impact nearby downstream water quality?
3b. If you answered "yes" to the above, submit a qualitative or quantitative cumulative impact analysis in accordance with the
most recent DWQ policy. If you answered "no," provide a short narrative description.
4. Sewage Disposal (DWQ Requirement)
4a. Clearly detail the ultimate treatment methods and disposition (non -discharge or discharge) of wastewater generated from
the proposed project, or available capacity of the subject facility.
An on-site septic treatment system will be installed to serve the proposed house (see Hyde County Improvement Permit).
Page 10 of 11
PCN Form — Version 1.3 December 10, 2008 Version

M
5. Endangered Species and Designated Critical Habitat (Corps Requirement)
5a. Will this project occur in or near an area with federally protected species or
❑ Yes ® No
habitat?
5b. Have you checked with the USFWS concerning Endangered Species Act
❑ Yes ® No
impacts?
❑ Raleigh
5c. If yes, indicate the USFWS Field Office you have contacted.
❑ Asheville
5d. What data sources did you use to determine whether your site would impact Endangered Species or Designated Critical
Habitat?
NC Natural Heritage Program
6. Essential Fish Habitat (Corps Requirement)
6a. Will this project occur in or near an area designated as essential fish habitat?
❑ Yes ® No
6b. What data sources did you use to determine whether your site would impact Essential Fish Habitat?
Mapping data and field investigation; proposed impact area is not within an area of surface waters.
7. Historic or Prehistoric Cultural Resources (Corps Requirement)
7a. Will this project occur in or near an area that the state, federal or tribal
governments have designated as having historic or cultural preservation
❑ Yes ® No
status (e.g., National Historic Trust designation or properties significant in
North Carolina history and archaeology)?
7b. What data sources did you use to determine whether your site would impact historic or archeological resources?
National Register of Historic Places
B. Flood Zone Designation (Corps Requirement)
Ba. Will this project occur in a FEMA -designated 100 -year floodplain?
® Yes ❑ No
Sb. If yes, explain how project meets FEMA requirements: This type of fill is allowable with permit in AE zones.
Sc. What source(s) did you use to make the floodplain determination? NFIP Flood Zone Maps (www.ncfloodmaps.com)
Applicant/Agent's Printed Name
Applicant/Agent's Signature
Date
(Agent's signature is valid only if an authorization letter from the applicant
is provided.
Page 11 of 11

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Environmental
Quality
December 1, 2015
Alex Wolcott
Coastal NC Holdings
c/o Quible and Associates
PO Box 870
Kitty Hawk, NC 27949
Project: Lot 67 Pamlico Point
PAT MCCRORY
Guyetrrar
DONALD R. VAN DER VAART
secrerrery
Expiration of Acceptance: June 1, 2016
County: Hyde
The purpose of this letter is to notify you that the NCDEQ Division of Mitigation Services (DMS) is willing to accept
payment for compensatory mitigation for impacts associated with the above referenced project as indicated in the table
below. Please note that this decision does not assure that participation in the DMS in -lieu fee mitigation program will be
approved by the permit issuing agencies as mitigation for project impacts. It is the responsibility of the applicant to
contact permitting agencies to determine if payment to the DMS will be approved. You must also comply with all other
state, federal or local government permits, regulations or authorizations associated with the proposed activity including
G.S. § 143-214.11.
This acceptance is valid for six months from the date of this letter and is not transferable. If we have not received a
copy of the issued 404 Permit/401 Certification/CAMA permit within this time frame, this acceptance will expire. It
is the applicant's responsibility to send copies of the permits to DMS. Once DMS receives a copy of the permit(s) an
invoice will be issued based on the required mitigation in that permit and payment must be made prior to conducting the
authorized work. The amount of the in -lieu fee to be paid by an applicant is calculated based upon the Fee Schedule and
policies listed at http://portal.ncdenr.org/web/eep.
Based on the information supplied by you in your request to use the DMS, the impacts that may require compensatory
mitigation are summarized in the following table. The amount of mitigation required and assigned to DMS for this impact
is determined by permitting agencies and may exceed the impact amounts shown below.
River
Basin
CU Location
(8 -digit HUC)
Stream (feet)
Wetlands (acres) Buffer 1. Buffer 11
(Sq. FL) (Sq. Ft.)
Cold
I Cool Warm
Riparian
Non -Riparian Coastal Marsh
Impact Tar -Pamlico
03020105
0
1 0 0
0
0.10 0 0 0
Upon receipt of payment, DMS will take responsibility for providing the compensatory mitigation. The mitigation will be
performed in accordance with the In -Lieu Fee Program instrument dated July 28, 2010. Thank you for your interest in the
DMS in -lieu fee mitigation program. If you have any questions or need additional information, please contact Kelly
Williams at [phone].
cc: Kyle Barnes, USACE- Washington
Brian Rubino- agent
Sincerely,
s
Jame _B Stanfill
Asset Management Supervisor
%'_Nothing Cornpares'-ti.f.
State of North Carolina I Environmental Quelity
1601 Mail Service Center i Raleigh, North Carolina 27699-1601
919707-8600
0

I .f
HYDE COUNTY HEALTH DEPARTMENT
P.O. Box 100 Swan Quarter, NC 27885
Phone #. [phone]
IMPROVEMENT PERMIT
INITIAL INSTALLATION: XXX EXPANSION: REPAIR:
Permit No: 102006-6 Date: November 20, 2006
Permittee: Elizabeth Ann Warner
Address: C/O E.J. Valdivieso, P.O. Drawer 870, Kitty Hawk, NC 27948
Phone No.: [phone]
Property Location: Lot #67 Beachside Extension S/D, Ocracoke
Facilities to be served: 2 bedroom house
Water Supply: private well
Wastewater Flow GPD: 480
Wastewater System Type: Va., TS -I, Pretreatment
Wastewater System Repair: NA
Long Term Acceptance Rate: 1.0 gpd/sq.ft.
Absorption Area: 180 sq -ft.
Septic Tank Capacity: 1000 gallons with filter
Pump Tank Capacity: 1000
Total Bed/Trench Length: To be determined by engineer Width: To be determined by
engineer
Bed/Trench Spacing: NA
Maximum Bed/Trench Bottom Depth: 6" above the naturally occurring soil surface

IMPROVEMENT PERMT
ELIZABETH ANN WARNER
PAGE 2
CONDITIONS:
1. Plans and specifications shall be submitted to the Hyde County Health Department
for a TS -I pretreatment system. The plans and specifications shall be prepared by
a registered professional engineer and his/her seal affixed to the submittal.
2. The plans and specifications shall contain information necessary for construction
of the system in accordance with the applicable rules and laws, the system
approval, and section .1938 (1)(1-7) of the Laws and Rules For Sewage Treatment
and Disposal Systems.
3. Prior to the issuance of the Operation Permit, the owner shall submit to the Hyde
County Health Department a statement signed by the design engineer stating that
construction is complete and in accordance with the approved plans and
specifications and approved modifications. Periodic observations of construction
and a final inspection for design compliance by the design engineer or his/her
representative shall be required for this statement. The statement shall be affixed
with the design engineer's seal.
4. This permit does not circumvent any other permits required by other agencies for
filling activities.
S. Use water conserving fixtures i.e. 1.6 gallon flush toilets, 2 gpm shower heads, 1
gpm all lavatories.
6. An Authorization to Construct will be issued upon final approval of the submitted
plans and specifications and the initial site modifications.
7. The well shall be located a minimum of 50' from all parts of the wastewater
system and 25' from any building foundation.
8. All setbacks from the drainfield shall be measured from a point 5' from the nearest
edge of the rock bed.
9. The system will require operation and maintenance by a licensed subsurface
operator certified by the Water Pollution Control System Operator Certification
Commission. A copy of the contract with the ORC shall be submitted to the Hyde
County Health Department prior to the issuance of an Operation Permit.

$7
IMPROVEMENT PERMIT
ELIZABETH ANN WARNER
PAGE 3
This Improvement Permit shall be valid:
Without expiration
upon a showing satisfactory to the Hyde County Health Department that the site and soil
conditions are:unaltered, that the facility, design wastewater flow, and wastewater
characteristics are not increased, and that a wastewater system can be installed that
meets the permitting requirements in effect on the date this permit was issued.: This
permit is subject to revocation if site plans or the intended use changes.
Authorized
Enviroftental Health Sbecialist
Hyde County Health Department

OFFER TO PURCHASE AND CONTRACT - VACANT LOT/LAND
[Consult "Guidelines" (form 12G) for guidance in completing this form]
NOTE: This contract is intended for unimproved real property that Buyer will purchase only for personal use and does not have
immediate plans to subdivide. It should not be used to sell property that is being subdivided unless the property has been platted,
properly approved and recorded with the register of deeds as of the date of the contract. If Seller is Buyer's builder and the sale involves
the construction of a new single family dwelling prior to closing, use the standard Offer to Purchase and Contract—New Construction
(Form 800-1) or, if the construction is completed, use the Offer to Purchase and Contract (Form 2-T) with the New Construction
Addendum (Form 2A3 -T).
For valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Buyer offers to purchase and Seller upon
acceptance agrees to sell and convey the Property on the terms and conditions of this Offer To Purchase and Contract and any addendum
or modification made in accordance with its terns (together the "Contract").
1. TERMS AND DEFINITIONS: The terms listed below shall have the respective meaning given them as set forth adjacent to each
term.
(a) "Seller": SHEARWATER DEVELOPMENT
(b) "Buyer": ALEX WOLCOTT
(c) "Property": The Property shall include all that real estate described below together with all appurtenances thereto including the
improvements located thereon. NOTE: If the Property will include a manufactured (mobile) home(s), Buyer and Seller should
consider including the Manufactured (Mobile) Home provision in the Additional Provisions Addendum (Standard Form 2AH-T)
with this offer.
Street Address: LOT#67 LAKE SIDE DRIVE
City: OCRACOPM Zip:
County: RYDE , North Carolina
(NOTE: Governmental authority over taxes, zoning, school districts, utilities and mail delivery may differ from address shown.)
Legal Description: (Complete ALL applicable)
Plat Reference: Lot/Unit 67 , Block/Section , Subdivision/Condomiaium PAMLICO POINT
, as shown on Plat Book/Slide at Page(s)
The PIN/PID or other identification number of the Property is: 9500-67-1985
Other description: LOT# 67 PAMLICO POINT
Some or all of the Property may be described in Deed Book 223 at Page 245
(d) "Purchase Price":
$ 84,500-00
paid in U.S. Dollars upon the following terms:
$ -0-
BY DUE DILIGENCE FEE made payable and delivered to Seller by the Effective Date.
$ 500.00
BY INITIAL EARNEST MONEY DEPOSIT made payable and delivered to Escrow
Agent named in Paragraph l(f) by ❑ cash M personal check ❑ official bank check
❑ wire transfer, EITHER ❑ with this offer OR ❑ within five (5) days of the Effective
Date of this Contract.
$ N/A
BY (ADDITIONAL) EARNEST MONEY DEPOSIT made payable and delivered to
Escrow Agent named in Paragraph 1(f) by cash or immediately available funds such as
official bank check or wire transfer no later than N/A , TIME
BEING OF THE ESSENCE with regard to said date.
$ N/A
BY ASSUMPTION of the unpaid principal balance and all obligations of Seller on the
existing loan(s) secured by a deed of trust on the Property in accordance with the attached
Loan Assumption Addendum (Standard Form 2A6 -T).
$ N/A
BY SELLER FINANCING in accordance with the attached Seller Financing Addendum
(Standard Form 2A5 -T).
$ 84,000.00
BALANCE of the Purchase Price in cash at Settlement (some or all of which may be paid
with the proceeds of a new loan).
This form jointly approved by:
Page 1 of 11 STANDARD FORM 12-T
n
North Carolina Bar Association
Revised 7/2015
REa1roR® North Carolina Association of REALTORS®, Inc. OPP RTUN�ITY ©7/2015
Buyer initials
Seller initials
a - KH, 4900 N. Croatan Hwy Kitty Hawk, NC 27949
Phone: [phone] Fax: (252}255-6465 ALEX WOLCOTT PP
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Should Buyer fail to deliver either the Due Diligence Fee or any Initial Earnest Money Deposit by their due dates, or should any
check or other funds paid by Buyer be dishonored, for any reason, by the institution upon which the payment is drawn, Buyer shall
have one (1) banking day after written notice to deliver cash or immediately available funds to the payee. In the event Buyer does
not timely deliver cash or immediately available funds, Seller shall have the right to terminate this Contract upon written notice to
Buyer.
(e) "Earnest Money Deposit": The Initial Earnest Money Deposit, the Additional Earnest Money Deposit and any other earnest
monies paid in connection with this transaction, hereinafter collectively referred to as "Earnest Money Deposit", shall be deposited
and held in escrow by Escrow Agent until Closing, at which time it will be credited to Buyer, or until this Contract is otherwise
terminated. In the event: (1) this offer is not accepted; or (2) a condition of any resulting contract is not satisfied, then the Earnest
Money Deposit shall be refunded to Buyer. In the event of breach of this Contract by Seller, the Earnest Money Deposit shall be
refunded to Buyer upon Buyer's request, but such return shall not affect any other remedies available to Buyer for such breach. In the
event of breach of this Contract by Buyer, the Earnest Money Deposit shall be paid to Seller as liquidated damages and as Seller's
sole and exclusive remedy for such breach, but without limiting Sellers rights under Paragraphs 2(c) and 2(d) for damage to the
Property or Seller's right to retain the Due Diligence Fee. It is acknowledged by the parties that payment of the Earnest Money
Deposit to Seller in the event of a breach of this Contract by Buyer is compensatory and not punitive, such amount being a
reasonable estimation of the actual loss that Seller would incur as a result of such breach. The payment of the Earnest Money
Deposit to Seller shall not constitute a penalty or forfeiture but actual compensation for Seller's anticipated loss, both parties
acknowledging the difficulty determining Seller's actual damages for such breach. If legal proceedings are brought by Buyer or
Seller against the other to recover the Earnest Money Deposit, the prevailing party in the proceeding shall be entitled to recover from
the non-prevailing party reasonable attorney fees and court costs incurred in connection with the proceeding.
(i) "Escrow Agent" (insert name): LAURA DW—WS EVANS AND MEADS
NOTE: In the event of a dispute between Seller and Buyer over the disposition of the Earnest Money Deposit held in escrow, a
licensed real estate broker ("Broker") is required by state law (and Escrow Agent, if not a Broker, hereby agrees) to retain the
Earnest Money Deposit in the Escrow Agent's trust or escrow account until Escrow Agent has obtained a written release from the
parties consenting to its disposition or until disbursement is ordered by a court of competent jurisdiction. Alternatively, if a Broker or
an attorney licensed to practice law in North Carolina ("Attorney") is holding the Earnest Money Deposit, the Broker or Attorney
may deposit the disputed monies with the appropriate clerk of court in accordance with the provisions of N.C.G.S. §93A-12.
THE PARTIES AGREE THAT A REAL ESTATE BROKERAGE FIRM ACTING AS ESCROW AGENT MAY PLACE THE
EARNEST MONEY DEPOSIT IN AN INTEREST BEARING TRUST ACCOUNT AND THAT ANY INTEREST EARNED
THEREON SHALL BE DISBURSED TO THE ESCROW AGENT MONTHLY IN CONSIDERATION OF THE EXPENSES
INCURRED BY MAINTAINING SUCH ACCOUNT AND RECORDS ASSOCIATED THEREWITH.
(g) "Effective Date": The date that: (1) the last one of Buyer and Seller has signed or initialed this offer or the final counteroffer, if
any, and (2) such signing or initialing is communicated to the party making the offer or counteroffer, as the case may be. The parties
acknowledge and agree that the initials lines -at the bottom of each page of this Contract are merely evidence of their having
reviewed the terms of each page, and that the complete execution of such initials lines shall not be a condition of the effectiveness of
this Agreement.
(h) "Due Diligence": Buyer's opportunity during the Due Diligence Period to investigate the Property and the transaction
contemplated by this Contract, including but not necessarily limited to the matters described in Paragraph 2 below, to decide whether
Buyer, in Buyer's sole discretion, will proceed with or terminate the transaction.
(i) "Due Diligence Fee": A negotiated amount, if any, paid by Buyer to Seller with this Contract for Buyer's right to conduct Due
Diligence during the Due Diligence Period. It shall be the property of Seller upon the Effective Date and shall be a credit to Buyer at
Closing. The Due Diligence Fee shall be non-refundable except in the event of a material breach of this Contract by Seller, or if this
Contract is terminated under Paragraph 6(m) or Paragraph 9, or as otherwise provided in any addendum hereto. Buyer and Seller
each expressly waive any right that they may have to deny the right to conduct Due Diligence or to assert any defense as to the
enforceability of this Contract based on the absence or alleged insufficiency of any Due Diligence Fee, it being the intent of the
parties to create a legally binding contract for the purchase and We of the Property without regard to the existence or amount of any
Due Diligence Fee.
(j) "Due Diligence Period": The period beginning on the Effective Date and extending through 5:00 p.m. on
DAYS FROM ACCEPTANCE TIME BEING OF THE ESSENCE
with regard to said date.
Page 2 of 11
STANDARD FORM 12-T
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Buyer initials Seller initials (97/2015
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(k) "Settlement": The proper execution and delivery to the closing attorney of all documents necessary to complete the transaction
contemplated by this Contract, including the deed, settlement statement, deed of trust and other loan or conveyance documents, and
the closing attorney's receipt of all funds necessary to complete such transaction.
(1) "Settlement Date": The parties agree that Settlement will take place on aanuary 31, 2016
(the "Settlement Date"), unless otherwise agreed in writing, at a time and place designated by Buyer.
(m) "Closing": The completion of the legal process which results in the transfer of title to the Property from Seller to Buyer, which
includes the following steps: (1) the Settlement (defined above); (2) the completion of a satisfactory title update to the Property
following the Settlement; (3) the closing attorney's receipt of authorization to disburse all necessary funds; and (4) recordation in the
appropriate county registry of the deed(s) and deed(s) of trust, if any, which shall take place as soon as reasonably possible for the
closing attorney after Settlement. Upon Closing, the proceeds of sale shall be disbursed by the closing attorney in accordance with
the settlement statement and the provisions of Chapter 45A of the North Carolina General Statutes. If the title update should reveal
unexpected liens, encumbrances or other title defects, or if the closing attorney is not authorized to disburse all necessary funds, then
the Closing shall be suspended and the Settlement deemed delayed under Paragraph 10 (Delay in Settlement/Closing).
WARNING: The North Carolina State Bar has determined that the performance of most acts and services required for a closing
constitutes the practice of law and must be performed only by an attorney licensed to practice law in North Carolina. State law
prohibits unlicensed individuals or firms from rendering legal services or advice. Although non -attorney settlement agents may
perform limited services in connection with a closing, they may not perform all the acts and services required to complete a closing.
A closing involves significant legal issues that should be handled by an attorney. Accordingly it is the position of the North Carolina
Bar Association and the North Carolina Association of REALTORS® that all buyers should hire an attorney licensed in North
Carolina to perform a closing.
(n) "Special Assessments": A charge against the Property by a governmental authority in addition to ad valorem taxes and recurring
governmental service fees levied with such taxes, or by an owners' association in addition to any regular assessment (dues), either of
which may be alien against the Property. A Special Assessment may be either proposed or confirmed.
"Proposed Special Assessment": A Special Assessment that is under formal consideration but which has not been approved prior
to Settlement.
"Confirmed Special Assessment": A Special Assessment that has been approved prior to Settlement whether or not it is fully
payable at time of Settlement.
2. BUYER'S DUE DILIGENCE PROCESS:
(a) Loan: During the Due Diligence Period, Buyer, at Buyer's expense, shall be entitled to pursue qualification for and approval of
the Loan if any.
(NOTE: Buyer is advised to consult with Buyer's lender prior to signing this offer to assure that the Due Diligence Period allows
sufficient time for the appraisal to be completed and for Buyer's lender to provide Buyer sufficient information to decide whether to
proceed with or terminate the transaction since the Loan is not a condition of the Contract.)
(b) Property Investigation: During the Due Diligence Period, Buyer or Buyer's agents or representatives, at Buyer's expense,
shall be entitled to conduct all desired tests, surveys, appraisals, investigations, examinations and inspections of the Property as
Buyer deems appropriate, including but NOT limited to the following:
(i) Soil And Environmental: Reports to determine whether the soil is suitable for Buyer's intended use and whether there is
any environmental contamination, law, rule or regulation that may prohibit, restrict or limit Buyer's intended use.
(ii) Septic/Sewer System: Any applicable investigation(s) to determine: (1) the condition of an existing sewage system, (2)
the costs and expenses to install a sewage system approved by an existing Improvement Permit, (3) the availability and
expense to connect to a public or community sewer system, and/or (4) whether an Improvement Permit or written
evaluation may be obtained from the County Health Department for a suitable ground absorption sewage system.
(iii) Water: Any applicable investigation(s) to determine: (1) the condition, of an existing private drinking water well, (2) the
costs and expenses to install a private drinking water well approved by an existing Construction Permit, (3) the
availability, costs and expenses to connect to a public or community water system, or a shared private well, and/or (4)
whether a Construction Permit may be obtained from the County Health Department for a private drinking water well.
(iv) Review of Documents: Review of the Declaration of Restrictive Covenants, Bylaws, Articles of Incorporation, Rules and
Regulations, and other governing documents of any applicable owners' association and/or subdivision. If the Property is
Page 3 of 11 STANDARD FORM 12-T
Revised 7/2015
Buyer initials Seller initials © 7/2015
Produced with zlpForm® by zipLoglx 18070 Fdteen Mile Road, Fraser. Michigan 48026 www.zlr)Laoix.com ALEX WOLCOTT

subject to regulation by an owners' association, it is recommended that Buyer review the completed Owners' Association
And Addendum (Standard Form 2Al2-T) provided by Seller prior to signing this offer. It is also recommended that the
Buyer determine if the owners' association charges fees for confirming owners' association information and restrictive
covenant compliance.
(v) Appraisals: An appraisal of the Property.
(vi) Survey: A survey to determine whether the property is suitable for Buyer's intended use and the location of easements,
setbacks, property boundaries and other issues which may or may not constitute title defects.
(vii) Zoning and Governmental Regulation: Investigation of current or proposed zoning or other governmental regulation
that may affect Buyer's intended use of the Property, adjacent land uses, planned or proposed road construction, and
school attendance zones.
(viii) Flood Hazard: Investigation of potential flood hazards on the Property, and/or any requirement to purchase flood
insurance in order to obtain the Loan.
(ix) Utilities and Access: Availability, quality, and obligations for maintenance of utilities including electric, gas,
communication services, stonnwater management, and means of access to the Property and amenities.
(x) Streets/Roads: Investigation of the status of the street/road upon which the Property fronts as well as any other
street/road used to access the Property, including: (1) whether any streets)/road(s) are public or private, (2) whether any
street(s)/road(s) designated as public are accepted for maintenance by the State of NC or any municipality, or (3) if private
or not accepted for public maintenance, the consequences and responsibility for maintenance and the existence, terms and
funding of any maintenance agreements.
NOTE: NC General Statutes Section 136-102.6(f) (the "Statute") requires that under circumstances described in the
Statute, a buyer must be provided a subdivision streets disclosure statement prior to entering into an agreement to buy
subdivided property described in the Statute. If Buyer or Seller are uncertain whether the sale of the Property described in
this Contract is subject to the Statute, consult a NC real estate attorney.
(c) Buyer's Obligation to Repair Damage: Buyer shall, at Buyer's expense, promptly repair any damage to the Property
resulting from any activities of Buyer and Buyer's agents and contractors, but Buyer shall not be responsible for any damage caused
by accepted practices applicable to any N.C. licensed professional performing reasonable appraisals, tests, surveys, examinations and
inspections of the Property. This repair obligation shall survive any termination of this Contract.
(d) Indemnity: Buyer will indemnify and hold Seller harmless from all loss, damage, claims, suits or costs, which shall arise out
of any contract, agreement, or injury to any person or property as a result of any activities of Buyer and Buyers agents and
contractors relating to the Property except for any loss, damage, claim, suit or cost arising out of pre-existing conditions of the
Property and/or out of Seller's negligence or willful acts or omissions. This indemnity shall survive this Contract and any termination
hereof.
(e) Buyer's Right to Terminate: Buyer shall have the right to terminate this Contract for any reason or no reason, by delivering to
Seller written notice of termination (the "Termination Notice") during the Due Diligence Period (or any agreed-upon written
extension of the Due Diligence Period), TIME BEING OF THE ESSENCE. If Buyer timely delivers the Termination Notice, this
Contract shall be terminated and the Earnest Money Deposit shall be refunded to Buyer.
WARNING: If Buyer is not satisfied with the results or progress of Buyer's Due Diligence, Buyer should terminate this Contract,
prior to the expiration of the Due Diligence Period, unless Buyer can obtain a written extension from Seller. SELLER IS NOT
OBLIGATED TO GRANT AN EXTENSION. Althought Buyer may continue to investigate the Property following the expiration of
the Due Diligence Period, Buyer's failure to deliver a Termination Notice to Seller prior to the expiration of the Due Diligence
Period shall constitute a waiver by Buyer of any right to terminate this Contract based on any matter relating to Buyer's Due
Diligence. Provided however, following the Due Diligence Period, Buyer may still exercise a right to terminate if Seller fails to
materially comply with any of Seller's obligations under paragraph 6 of this Contract or for any other reason permitted under the
terms of this Contract or North Carolina law.
(f) CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION
UNLESS PROVISION IS OTHERWISE MADE IN WRITING.
3. BUYER REPRESENTATIONS:
(a) Loan: Buyer 0 does ❑ does not have to obtain a new loan in order to purchase the Property. If Buyer is obtaining a new
loan, Buyer intends to obtain a loan as follows: ❑ Conventional ❑ Other: N/A loan at a
Page 4 of I 1
Buyer initials Seller initials
STANDARD FORM 12-T
Revised 7/2015
07/2015
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❑ Fixed Rate ❑ Adjustable Rate in the principal amount of N/A for a term of year(s), at
an initial interest rate not to exceed % per annum (the "Loan").
(NOTE: Buyer's obligations under this Contract are not conditioned upon obtaining or closing any loan. If Buyer represents that
Buyer does not have to obtain a new loan in order to purchase the Property, Seller is advised, prior to signing this offer, to obtain
documentation from Buyer which demonstrates that Buyer will be able to close on the Property without the necessity of obtaining a
new loan.)
(b) Other Property: Buyer ❑ does IM does not have to sell or lease other real property in order to qualify for a new loan or to
complete purchase. (NOTE: If Buyer does have to sell, Buyer and Seller should consider including a Contingent Sale Addendum
(Standard Form 2A2 -T) with this offer.)
(c) Performance of Buyer's Financial Obligations: To the best of Buyer's knowledge, there are no other circumstances or
conditions existing as of the date of this offer that would prohibit Buyer from performing Buyers financial obligations in accordance
with this Contract, except as may be specifically set forth herein.
(d) Authorization to Disclose Information: Buyer authorizes the Buyer's lender(s), the parties' real estate agent(s) and closing
attorney: (1) to provide this Contract to any appraiser employed by Buyer or by Buyer's lender(s); and (2) to release and disclose any
buyer's closing disclosure, settlement statement and/or disbursement summary, or any information therein, to the parties to this
transaction, their real estate agent(s) and Buyer's lender(s).
4. BUYER OBLIGATIONS:
(a) Owners' Association Fees/Charges: Buyer shall be responsible for the payment of any fees charged by an owners' association
for information relating to Buyer's Due Diligence other than those fees to be paid by Seller under Paragraph 60).
(b) Responsibility for Proposed Special Assessments: Buyer shall take title subject to all Proposed Special Assessments.
(c) Responsibility for Certain Costs: Buyer shall be responsible for all costs with respect to any loan obtained by Buyer,
appraisal, title search, title insurance, recording the deed and for preparation and recording of all instruments required to secure the
balance of the Purchase Price unpaid at Settlement.
5. SELLER REPRESENTATIONS:
(a) Ownership: Seller represents that Seller:
❑ has owned the Property for at least one year.
M has owned the Property for less than one year.
❑ does not yet own the Property.
(b) Assessments: To the best of Seller's knowledge there are no Proposed Special Assessments except as follows (Insert "None" or
the identification of such assessments, if any): NONE
Seller warrants that there are no Confirmed Special Assessments except as follows (Insert "None" or the identification of such
assessments, if any): N/A
(c) Owners' Association(s) and Dues: To best of Seller's knowledge, ownership of the Property I❑ subjects M does not subject
Buyer to regulation by one or more owners' association(s) and governing documents, which impose various mandatory covenants,
conditions and restrictions upon the Property and Buyer's enjoyment thereof, including but not limited to obligations to pay regular
assessments (dues) and Special Assessments. If there is an owners' association, then an Owners' Association Disclosure and
Addendum For Properties Exempt from Residential Property Disclosure Statement (Standard Form 2Al2-T) shall be completed by
Seller, at Seller's expense, and must be attached as an addendum to this Contract.
(d) Sewage System Permit: ( ❑ Applicable ❑ Not Applicable) Seller warrants that the sewage system described in the
Improvement Permit attached hereto has been installed, which representation survives Closing, but makes no further representations
as to the system.
(e) Private Drinking Water Well Permit: ( ❑ Applicable d Not Applicable) Seller warrants that a private drinking water well
has been installed, which representation survives Closing, but makes no further representations as to the well. (If well installed after
July 1, 2008, attach Improvement Permit hereto.)
Page 5 of 11
STANDARD FORM 12-T
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6. SELLER OBLIGATIONS:
(a) Evidence of Title and Payoff Statement(s): Seller agrees to use best efforts to deliver to Buyer as soon as reasonably possible
after the Effective Date, copies of all title information in possession of or available to Seller, including but not limited to: title
insurance policies, attorney's opinions on title, surveys, covenants, deeds, notes and deeds of trust, leases, and easements relating to
the Property. Seller shall provide to the closing attorney all information needed to obtain a written payoff statement from any
lender(s) regarding any security interest in the Property as soon as reasonably possible after the Effective Date, and Seller designates
the closing attorney as Seller's agent with express authority to request and obtain on Seller's behalf payoff statements and/or
short -pay statements from any such lender(s).
(b) Authorization to Disclose Information: Seller authorizes: (1) any attorney presently or previously representing Seller to
release and disclose any title insurance policy in such attorney's file to Buyer and both Buyer's and Seller's agents and attorneys; (2)
the Property's title insurer or its agent to release and disclose all materials in the Property's title insurer's (or title insurer's agent's) file
to Buyer and both Buyer's and Seller's agents and attorneys, and (3) the closing attorney to release and disclose any sellers closing
disclosure, settlement statement and/or disbursement summary, or any information therein, to the parties to this transaction, their real
estate agent(s) and Buyers lender(s).
(c) Access to Property/Walk-Through Inspection: Seller shall provide reasonable access to the Property (including working,
existing utilities) through the earlier of Closing or possession by Buyer, including, but not limited to, allowing the Buyer an
opportunity to conduct a final walk-through inspection of the Property. To the extent applicable, Seller shall also be responsible for
timely clearing that portion of the Property required by the County to perform tests, inspections and/or evaluations to determine the
suitability of the Property for a sewage system and/or private drinking water well.
(d) Removal of Seller's Property: Seller shall remove, by the date possession is made available to Buyer, all personal property
which is not a part of the purchase and all garbage and debris from the Property,
(e) Affidavit and Indemnification Agreement: Seller shall furnish at Settlement an affidavit(s) and indemnification agreement(s)
in form satisfactory to Buyer and Buyer's title insurer, if any, executed by Seller and any person or entity who has performed or
furnished labor, services, materials or rental equipment to the Property within 120 days prior to the date of Settlement and who may
be entitled to claim a lien against the Property as described in N.C.G.S. §44A-8 verifying that each such person or entity has been
paid in full and agreeing to indemnify Buyer, Buyer's lender(s) and Buyer's title insurer against all loss from any cause or claim
arising therefrom.
(f) Designation of Lien Agent, Payment and Satisfaction of Liens: If required by N.C.G.S. §44A-11.1, Seller shall have
designated a Lien Agent, and Seller shall deliver to Buyer as soon as reasonably possible a copy of the appointment of Lien Agent.
All deeds of trust, deferred ad valorem taxes, liens and other charges against the Property, not assumed by Buyer, must be paid and
satisfied by Seller prior to or at Settlement such that cancellation may be promptly obtained following Closing. Seller shall remain
obligated to obtain any such cancellations following Closing.
(g) Good Title, Legal Access: Seller shall execute and deliver a GENERAL WARRANTY DEED for the Property in recordable
form no later than Settlement, which shall convey fee simple marketable and insurable title, without exception for mechanics' liens,
and free of any other liens, encumbrances or defects, including those which would be revealed by a current and accurate survey of
the Property, except: ad valorem taxes for the current year (prorated through the date of Settlement); utility easements and unviolated
covenants, conditions or restrictions that do not materially affect the value of the Property; and such other liens, encumbrances or
defects as may be assumed or specifically approved by Buyer in writing. The Property must have legal access to a public right of
way.
(NOTE: Buyer's failure to terminate this Contract prior to the expiration of the Due Diligence Period as a result of any encumbrance
or defect that is or would have been revealed by a title examination of the Property or a current and accurate survey shall not relieve
Seller of any obligation under this subparagraph)
(NOTE: If any sale of the Property may be a "short sale," consideration should be given to attaching a Short Sale Addendum
(Standard Form 2A14 -T) as an addendum to this Contract.)
(h) Deed, Taxes, and Fees: Seller shall pay for preparation of a deed and all other documents necessary to perform Seller's
obligations under this Contract, and for state and county excise taxes, and any deferred, discounted or rollback taxes, and local
conveyance fees required by law. The deed is to be made to: ALEX WOLCOTT AND OR ASSIGNS
Page 6 of 11
Buyer initials _ Seller initials
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Revised 7/2015
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(i) Agreement to Pay Buyer Expenses: Seller shall pay at Settlement $ -0- toward any of Buyer's
expenses associated with the purchase of the Property, less any portion disapproved by Buyer's lender.
NOTE: Examples of Buyer's expenses associated with the purchase of the Property include, but are not limited to, discount points,
loan origination fees, appraisal fees, attorney's fees, inspection fees, and "pre-paids" (taxes, insurance, owners' association dues, etc).
0) Owners' Association Fees/Charges: Seller shall pay: (i) any fees required for confirming Sellers account payment
information on owners association dues or assessments for payment or proration; (ii) any transfer or similar fee imposed by the
owners' association; and (iii) fees incurred by Seller in completing the Residential Property and Owners' Association Disclosure
Statement.
(k) Payment of Confirmed Special Assessments: Seller shall pay all Confirmed Special Assessments, if any, provided that the
amount thereof can be reasonably determined or estimated.
(1) Late Listing Penalties: All property tax late listing penalties, if any, shall be paid by Seller.
(m) Owners' Association Disclosure and Condominium Resale Statement Addendum (Standard Form 2Al2-T): If applicable,
Seller shall provide the completed Owners' Association Disclosure and Condominium Resale Statement Addendum to Buyer on or
before the Effective Date.
(n) Seller's Failure to Comply or Breach: If Seller fails to materially comply with any of Seller's obligations under this
Paragraph 6 or Seller materially breaches this Contract, and Buyer elects to terminate this Contract as a result of such failure or
breach, then the Earnest Money Deposit and the Due Diligence Fee shall be refunded to Buyer and Seller shall reimburse to Buyer
the reasonable costs actually incurred by Buyer in connection with Buyer's Due Diligence without affecting any other remedies. If
legal proceedings are brought by Buyer against the Seller to recover the Earnest Money Deposit, the Due Diligence Fee and/or the
reasonable costs actually incurred by Buyer in connection with Buyer's Due Diligence, the prevailing party in the proceeding shall
be entitled to recover from the non -prevailing party reasonable attorney fees and court costs incurred in connection with the
proceeding.
7. PRORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated through the date of
Settlement and either adjusted between the parties or paid at Settlement:
(a) Taxes on Real Property: Ad valorem taxes and recurring governmental service fees levied with such taxes on real property
shall be prorated on a calendar year basis;
(b) Rents: Rents, if any, for the Property;
(c) Dues: Owners' association regular assessments (dues) and other like charges.
8. CONDITION OF PROPERTY AT CLOSING: Buyer's obligation to complete the transaction contemplated by this Contract
shall be contingent upon the Property being in substantially the same or better condition at Closing as on the date of this offer, reasonable
wear and tear excepted.
9. RISK OF LOSS: The risk of loss or damage by fire or other casualty prior to Closing shall be upon Seller. If the improvements on
the Property are destroyed or materially damaged prior to Closing, Buyer may terminate this Contract by written notice delivered to
Seller or Seller's agent and the Earnest Money Deposit and any Due Diligence Fee shall be refunded to Buyer. In the event Buyer does
NOT elect to terminate this Contract, Buyer shall be entitled to receive, in addition to the Property, any of Sellers insurance proceeds
payable on account of the damage or destruction applicable to the Property being purchased. Seller is advised not to cancel existing
insurance on the Property until after confirming recordation of the deed.
10. DELAY IN SETTLEMENT/CLOSING: Absent agreement to the contrary in this Contract or any subsequent modification
thereto, if a party is unable to complete Settlement by the Settlement Date but intends to complete the transaction and is acting in good
faith and with reasonable diligence to proceed to Settlement ("Delaying Party"), and if the other party is ready, willing and able to
complete Settlement on the Settlement Date ("Non -Delaying Party") then the Delaying Party shall give as much notice as possible to the
Non -Delaying Party and closing attorney and shall be entitled to a delay in SettlernenL If the parties fail to complete Settlement and
Closing within fourteen (14) days of the Settlement Date (including any amended Settlement Date agreed to in writing by the parties) or
to otherwise extend the Settlement Date by written agreement, then the Delaying Party shall be in breach and the Non -Delaying Party
may terminate this Contract and shall be entitled to enforce any remedies available to such party under this Contract for the breach.
Buyer initials - /
Page 7 of 11
Seller initials
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11. POSSESSION: Unless otherwise provided herein, possession shall be delivered at Closing as defined in Paragraph 1(m). No
alterations, excavations, tree or vegetation removal or other such activities may be done before possession is delivered.
12. OTHER PROVISIONS AND CONDITIONS: CHECK ALL STANDARD ADDENDA THAT MAY BE A PART OF THIS
CONTRACT, IF ANY, AND ATTACH HERETO. ITEMIZE ALL OTHER ADDENDA TO THIS CONTRACT, IF ANY, AND
ATTACH HERETO.
(NOTE: UNDER NORTH CAROLINA LAW, REAL ESTATE BROKERS ARE NOT PERMITTED TO DRAFT CONDITIONS OR
CONTINGENCIES TO THIS CONTRACT.)
® Additional Provisions Addendum (Form 2A1I-T)
❑ Additional Signature's Addendum (Form 3-T)
❑ Back -Up Contract Addendum (Form 2AI-T)
❑ Contingent Sale Addendum (Form 2A2 -T)
❑ Loan Assumption Addendum (Form 2A6 -T)
❑ OTHER:
❑ Owners' Association Disclosure And Addendum For Properties
Exempt from Residential Property Disclosure Statement (Form
2Al2-T)
❑ Seller Financing Addendum (Form 2A5 -T)
❑ Short Sale Addendum (Form 2A14 -T)
13. ASSIGNMENTS: This Contract may not be assigned without the written consent of all parties except in connection with a tax-
deferred exchange, but if assigned by agreement, then this Contract shall be binding on the assignee and assignee's heirs and successors.
14. TAX-DEFERRED EXCHANGE: In the event Buyer or Seller desires to effect a tax-deferred exchange in connection with the
conveyance of the Property, Buyer and Seller agree to cooperate in effecting such exchange; provided, however, that the exchanging
party shall be responsible for all additional costs associated with such exchange, and provided further, that a non -exchanging party shall
not assume any additional liability with respect to such tax-deferred exchange. Buyer and Seller shall execute such additional documents,
including assignment of this Contract in connection, therewith, at no cost to the non -exchanging party, as shall be required to give effect
to this provision.
15. PARTIES: This Contract shall be binding upon and shall inure to the benefit of Buyer and Seller and their respective heirs,
successors and assigns. As used herein, words in the singular include the plural and the masculine includes the feminine and neuter
genders, as appropriate.
16. SURVIVAL: If any provision herein contained which by its nature and effect is required to be observed, kept or performed after
the Closing, it shall survive the Closing and remain binding upon and for the benefit of the parties hereto until fully observed, kept or
performed.
17. ENTIRE AGREEMENT: This Contract contains the entire agreement of the parties and there are no representations,
inducements or other provisions other than those expressed herein. All changes, additions or deletions hereto must be in writing and
signed by all parties. Nothing contained herein shall alter any agreement between a REALTOR® or broker and Seller or Buyer as
contained in any listing agreement, buyer agency agreement, or any other agency agreement between them.
18. CONDUCT OF TRANSACTION: The parties agree that any action between them relating to the transaction contemplated by
this Contract may be conducted by electronic means, including the signing of this Contract by one or more of them and any notice or
communication given in connection with this Contract. Any written notice or communication may be transmitted to any mailing address,
e-mail address or fax number set forth in the "Notice Information" section below. Any notice or communication to be given to a party
herein, and any fee, deposit of other payment to be delivered to a party herein, may be given to the party or to such party's agent. Seller
and Buyer agree that the "Notice Information" and "Acknowledgment of Receipt of Monies" sections below shall not constitute a
material part of this Contract, and that the addition or modification of any information therein shall not constitute a rejection of an offer
or the creation of a counteroffer.
19. EXECUTION: This Contract may be signed in multiple originals or counterparts, all of which together constitute one and the
same instrument.
Page 8 of 11
Buyer initials Seller initials
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Revised 7/2015
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20. COMPUTATION OF DAYS/TEME OF DAY: Unless otherwise provided, for purposes of this Contract, the term "days" shall
mean consecutive calendar days, including Saturdays, Sundays, and holidays, whether federal, state, local or religious. For the purposes
of calculating days, the count of "days" shall begin on the day following the day upon which any act or notice as provided in this
Contract was required to be performed or made. Any reference to a date or time of day shall refer to the date and/or time of day in
the State of North Carolina.
THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. AND THE NORTH CAROLINA BAR ASSOCIATION MAKE
NO REPRESENTATION AS TO THE 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.
This offer shall become a binding contract on the Effective Date. Unless specifically provided otherwise, Buyer's failure to timely deliver
any fee, deposit or other payment provided for herein shall not prevent this offer from becoming a binding contract, provided that any
such failure shall give Seller certain rights to terminate the contract as described herein or as otherwise permitted by law.
Date: December 21, 2015
BuyerAr Ilk.
WOLCOT
Date:
Buyer
Entity Buyer:
(Name of LLC/Corporation/Partnership/Trust/etc,)
By:
Name:
Title:
Date:
Date: December 21, 2015
Sel
SHEARWATER DEVELOPMENT
Date:
Seller
Entity Seller:
By: _
Name:
Title:
Date:
(Name of LLC/Corporation/Partnership/Trust/ete.)
[THIS SPACE INTENTIONALLY LEFT BLANK]
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NOTICE INFORMATION
NOTE: INSERT THE ADDRESS AND/OR ELECTRONIC DELIVERY ADDRESS EACH PARTY AND AGENT APPROVES FOR
THE RECEIPT OF ANY NOTICE CONTEMPLATED BY THIS CONTRACT. INSERT "N/A" FOR ANY WHICH ARE NOT
APPROVED.
BUYER NOTICE ADDRESS: SELLER NOTICE ADDRESS:
Mailing Address: N/A, Mailing Address: N/A
Buyer Fax#:
Buyer E-mail:
SELLING AGENT NOTICE ADDRESS:
Firm Name: N/A
Acting as E2 Buyer's Agent Seller s (sub)Agent ❑Dual Agent
Mailing Address:
Individual Selling Agent: N/A
❑ Acting as a Designated Dual Agent (check only if applicable)
License #: N/A
Seller Fax#:
Seller E-mail:
LISTING AGENT NOTICE ADDRESS:
Firm Name: N/A
Acting as Il Seller's Agent ❑ Dual Agent
Mailing Address:
Individual Listing Agent: N/A
❑ Acting as a Designated Dual Agent (check only if applicable)
License #: N/A
Selling Agent Phone#: Listing Agent Phone#:
Selling Agent Fax#: Listing Agent Fax#: _
Selling Agent E-mail: Listing Agent E-mail:
[THIS SPACE INTENTIONALLY LEFT BLANK]
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ACKNOWLEDGMENT OF RECEIPT OF MONIES
Seller: SHEARWATER DEVELOPMENT ("Seller")
Buyer: ALEX WOLCOTT ('Buyer")
Property Address: LOT#67 LAKE SIDE DRIVE, OCRACOKE, ("Property")
❑ LISTING AGENT ACKNOWLEDGMENT OF RECEIPT OF DUE DILIGENCE FEE
Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment to
Seller of a Due Diligence Fee in the amount of $ , receipt of which Listing Agent hereby acknowledges,
Date: Firm: N/A
By:
(Signature)
N/A
(Print name)
.................................................
❑ SELLER ACKNOWLEDGMENT OF RECEIPT OF DUE DILIGENCE FEE . .
Paragraph.l(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment to
Seller of a Due Diligence Fee in the amount of $ , receipt of which Seller hereby acknowledges.
Date: Seller:
(Signature)
SHLARWATER DEVELOPMENT
Date: Seller:
(Signature)
-----------------------------------------..................................................
❑ ESCROW AGENT ACKNOWLEDGMENT OF RECEIPT OF INITIAL EARNEST MONEY DEPOSIT
Paragraph I(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment to
Escrow Agent of an Initial Earnest Money Deposit in the amount of $ . Escrow Agent as identified in Paragraph
1(f) of the Offer to Purchase and Contract hereby acknowledges receipt of the Initial Earnest Money Deposit and agrees to hold and
disburse the same in accordance with the terms of the Offer to Purchase and Contract.
Date: Firm: LAURA MEADS
By:
(Signature)
EVANS AND MEADS
(Print name)
❑ ESCROW AGENT ACKNOWLEDGMENT OF RECEIPT OF (ADDITIONAL) EARNEST MONEY DEPOSIT
Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment to
Escrow Agent of an (Additional) Earnest Money Deposit in the amount of $ . Escrow Agent as identified in
Paragraph 1(f) of the Offer to Purchase and Contract hereby acknowledges receipt of the (Additional) Earnest Money Deposit and agrees
to hold and disburse the same in accordance with the terms of the Offer to Purchase and Contract.
Date: Firm: LAURA MEADS
By:
(Signature)
EVANS AND bWMS
(Print name)
Page 11 of 11
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This document presented and filed:
02/2712015 04:29:06 PM
BOOK 264'
PAGE 214 (5)
403694 �IIIHI�IiI�Nll�lullul�� E MERITA LEWIS-SPENCER, HYDE COUNTY, NC
NORTH CAROLINA DEED OF TRUST
SATISFACTION: The debt secured by the within Deed of Trust
together with the note(s) secured thereby has been satisfied in full
This the day of
—.20—
'0Signed:Parcel
Signed-
ParcelIdentifier No.
Verified by County on the _ day of 20_
By:
VlaiLBox to: Danny Harrington, P.O. Box 1726, Greenville, NC 27835
This instrument was prepared by: Christian E. Porter, Attorney
Brief description for the Index:
THIS DEED of TRUST made this 27th
day of February 2015 , by and between:
GRANTOR
TRUSTEE BENEFICIARY
SHEARWATER DEVELOPMENT
CHRISTIAN E. PORTER WILMORE CAPITAL, LLC,
GROUP, LLC,
1698 E. Arlington Blvd. a North Carolina limited liability company
a NC limited liability company
Greenville, NC 27858 P.O. BOX 2161
191 Lambs Road
Greenville, NC 27836
Camden, NC 27921
Enter in appropriate block for each party:
name, address, and if appropriate, character of entity, e.g. corporation or partnership.
The designation Grantor, Trustee, and Beneficiary 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, That whereas the Grantor is indebted to the Beneficiary in the principal sum of Three Hundred Thousand
and 001100""" --- Dollar; (s 300,000.00 ), as evidenced by a Promissory Nate of even date herewith, the
terms of which are incorporated herein by reference. The final due date for payments of said Promissory Note, if not sooner paid, is
February 28 „ 207.
f00054466.DOCI DOC, SC Bar Association Form No. 5 C 1976, Revised z September 1985,20M
Printed by Agreement aith the NC Bar Association -1981

BK 264 PG 215 DOC#403694
NOW, THEREFORE, as security for said indebtedness, advancements and other sutras expended by Beneficiary pursuant to this
Deed of Trust and costs of collection (including attorneys fees as provided in the Promissory Note) and other valuable consideration,
the receipt of which is hereby acknowledged, the Grantor has bargained, sold, given and conveyed and does by these presents bargain,
sell, give, grant and convey to said Trustee, his heirs, or successors, and assigns, the parcels) of land situated in the City of
Township, Hyde County, North Carolina,
(the "Premises") and more particularly described as follows:
SEE EXHIBIT "A" ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE.
TO HAVE AND TO HOLD said Premises with all privileges and appurtenances thereunto belonging• to said Trustee, his heirs,
successors• and assigns forever, upon the trusts, terms and conditions, and for the uses hereinafter set forth.
If the Grantor shall pay the Note secured hereby in accordance with its terms, together with interest thereon, and any renewals or
extensions thereof in whole or in part, all other sums secured hereby and shall comply with all of the covenants, terms and
conditions of this Deed of Trust, then this conveyance shall be null and void and may be canceled of record at the request and the
expense of the Grantor.
If, however, there shall be any default (a) in the payment of any sums due under the Note. this Deed of Trust or any other
instrument securing the Note and such default is not cured within ten (10) days from the due date, or (b) if there shall be default in
any of the other covenants, terms or conditions of the Note secured hereby, or any failure or neglect to comply with the covenants.
terms or conditions contained in this Deed of Trust or any other iactrunicnt securing the Note and such default is not cured within
fifteen (15) days after written notice, then and in any of such events, without firrther notice, it shall be lawful for and the duty of the
Trustee, upon request of the Beneficiary, to sell the land herein conveyed at public auction for cash, after having first giving such
notice of hearing as to commencement of foreclosure proceedings and obtained such findings or leave of court as may then be
required by law and giving such notice and advertising the time and place of such sale in such manner as may then be provided by
law, and upon such and any resales and upon compliance with the law then relating to foreclosure proceedings under power of sale
to convey title to the purchaser in as full and ample manner as the Trustee is empowered. The Trustee shall be authorized to retain
an attorney to represent him in such proceedings.
The proceeds of the Sale shall after the Trustee retains his commission, together with reasonable attorneys fees incurred by the
Trustee in such proceedings, be applied to the costs of sale, including, but not limited to, costs of collection, taxes, assessments,
costs of recording, service fees and incidental expenditures, the amount due on the Note hereby secured and advancements and other
sums expended by the Beneficiary according to the provisions hereof and otherwise as required by the then existing law relating to
foreclosures. The Trustee's commission shall be five percent (5%) of the gross proceeds of the sale or the minimum sum of
$1,500.00 whichever is greater, for a completed foreclosure. In the event foreclosure is commenced, but not
completed the Grantor shall pay all expenses incurred by Trustee, including reasonable attorneys fees, and a partial commission
computed on five per cent (5%) of the outstanding indebtedness or the above stated minimum sum, whichever is greater• in
accordance with the following schedule, to -wit: one-fourth ('/a) thereof before the Trustee issues a notice of hearing on the right to
foreclosure. one-half (%) thereof after issuance of said notice, three-fourths (r/,) thereof after such hearing; and the greater of the full
commission or minimum sum after the initial sale.
And the said Grantor does hereby covenant and agree with the Trustee as follows:
1. INSURANCE. Grantor shall keep all improvements on said land, now or hereafter erected, constantly insured for the benefit
of the Beneficiary against loss by fire, windstorm and such other casualties and contingencies, in such manner and in such
companies and for such amounts, not less than that amount necessary to pay the sum secured by this Deed of Trust, and as may be
satisfactory to the Beneficiary. Grantor shall purchase such insurance, pay all premiums therefor, and shall deliver to Beneficiary
such policies along with evidence of premium payments as long as the Note secured hereby remains unpaid. If Grantor fails to
purchase such insurance, pay premiums therefor or deliver said policies along with evidence of payment of premiums thereon, then
Beneficiary, at his option, may purchase such insurance. Such amounts paid by Beneficiary shall be added to the principal of the
Note secured by this Deed of Trust, and shall be due and payable upon demand of Beneficiary. All proceeds from any insurance so
maintained shall at the option of Beneficiary be applied to the debt secured hereby and if payable in installments, applied in the
inverse order of maturity of such installments or to the repair or reconstruction of any improvements located upon the Property.
2. TAXES, ASSESSMENTS, CHARGES. Grantor shall pay all taxes, assessments and charges as may be lawfully levied
against said Premises within thirty (30) days after the same shall become due. In the event that Grantor fails to so pay all taxes.
assessments and charges as herein required, then Beneficiary, at his option, may pay the same and the amounts so paid shall be
added to the principal of the Note secured by this Deed of Trust, and shall be due and payable upon demand of Beneficiary.
3. ASSIGNMENTS OF RENTS AND PROFITS. Grantor assigns to Beneficiary, in the event of default, all rents and profits
from the land and any improvements thereon, and authorizes Beneficiary to enter upon and take possession of such land and
improvements, to rent same, at any reasonable rate of rent determined by Beneficiary, and after deducting from any such rents the
cost of reletting and collection, to apply the remainder to the debt secured hereby.
{00054466.DOCI DOC, \C Baz Association Form No. 5: 1976. Revised September 1985, 3W'_'
Printed by Agreement with the NC Bar Association -1981

BK 264 PG 216 DOC#403694
4. PARTIAL RELEASE. Grantor shall not be entitled to the partial release of any of the above described property unless a
specific provision providing therefor is included in this Deed of Trust. in the event a partial release provision is included in this
Deed of Trust, Grantor must strictly comply with the terms thereof. Notwithstanding anything herein contained, Grantor shall not be
entitled to any release of property unless Grantor is not in default and is in full compliance with all of the terms and provisions of the
Note, this Deed of Trust, and any other instrument that may be securing said Note.
5. WASTE. The Grantor covenants that he will keep the Premises herein conveyed in as good order, repair and condition as they
are now, reasonable wear and tear excepted, and will comply with all governmental requirements respecting the Premises or their
use, and that he will not commit or permit any waste.
6. CONDEMNATION. In the event that any or all of the Premises shall be condemned and taken under the power of eminent
domain, Grantor shall give immediate written notice to Beneficiary and Beneficiary shall have the right to receive and collect all
damages awarded by reason of such taking, and the right to such damages hereby is assigned to Beneficiary who shall have the
discretion to apply the amount so received, or any part thereof, to the indebtedness due hereunder and if payable in installments,
applied in the inverse order of maturity of such installments, or to any alteration, repair or restoration of the Premises by Grantor.
7. WARRANTIES. Grantor covenants with Trustee and Beneficiary that he 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 he 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, rights -0f --way and restrictions of record in the office of the Hyde County Register of Deeds
8. SUBSTITLMON OF TRUSTEE. Grantor and Trustee covenant and agree to and with Beneficiary that in case the said
Trustee, or any successor trustee, shall die, become incapable of acting, renounce his trust, or for any reason the holder of the Note
desires to replace said Trustee, then the bolder may appoint, in writing, a trustee to take the place of the Trustee; and upon the
roba7te and registration of the same, the trustee thus appointed shall succeed to all rights, powers and duties of the Trustee.
XX THE FOLLOWING PARAGRAPH, 9. SALE OF PREMISES, SHALL NOT APPLY UNLESS THE BLOCK
u TO THE LEFT MARGIN OF THIS SENTENCE IS mARKED ASID/OR INITIALED.
9. SALE OF PREMISES. Grantor agrees that if the Premises or any part thereof or interest therein is sold, assigned, transferred,
conveyed or otherwise alienated by Grantor, whether voluntarily or involuntarily or by operation of law [other than: (i) the creation
of a lien or other encumbrance subordinate to this Deed of Trust which does not relate to a transfer of rights of occupancy in the
Premises; (ii) the creation of a purchase money security interest for household appliances; (iii) a transfer by devise, descent, or
operation of law on the death of a joint tenant or tenant by the entirety; (iv) the grant of a leasehold interest of three (3) years or less
not containing an option to purchase; (v) a transfer to a relative resulting from the death of a,Grantor; (vi) a transfer where the
spouse or children of the Grantor become the owner of the Premises; (vii) a transfer resulting from a decree of a dissolution of
marriage, legal separation agreement, or from an incidental property settlement agreement by which the spouse of the Grantor
becomes an owner of the Premises; (viii) a transfer into an inter vivos trust in which the Grantor is and remains a beneficiary and
which does not relate to a transfer of rights of occupancy in the Premises). without the prior written consent of Beneficiary.
Beneficiary, at its own option, may declare the Note secured hereby and all other obligations hereunder to be forthwith due and
payable_ Any change in the legal or equitable title of the Premises or m the beneficial ownership of the Premises, including the sale,
conveyance or disposition of a majority interest in the Grantor if a corporation or partnership, whether or not of record and whether
or not for consideration, shall be deemed to be the transfer of an interest in the Premises.
10. ADVANCEMENTS. If Grantor shall fail to perform any of the covenants or obligations contained herein or in any other
instrument given as additional security for the Note secured hereby, the Beneficiary may, but without obligation, make advances to
perform such covenants or obligations, and all such sums so advanced shall be added to the principal sum, shall bear interest at the
rate provided in the Note secured hereby for sums due after default and shall be due from Grantor on demand of the Beneficiary. No
advancement or anything contained in this paragraph shall constitute a waiver by Beneficiary or prevent such failure to perform
from constituting an event of default
11. INDEMNITY. If arry sunt or proceeding be brought against the Trustee or Beneficiary or if any suit or proceeding be brought
which may affect the value or title of the Premises, Grantor shall defend, indemnify and hold harmless and on demand reimburse
Trustee or Beneficiary from any loss, cost damage or expense and any sums expended by Trustee or Beneficiary shall bear interest
as provided in the Note secured hereby for sums due after default and shall be due and payable on demand.
12. WAIVERS. Grantor waives all rights to require marshaling of assets by the Trustee or Beneficiary. No delay or omission of
the Trustee or Beneficiary in the exercise of any right power or remedy arising under the Note or this Deed of Trust shall be deemed
a waiver of any default or acquiescence therein or shall impair or waive the exercise of such right, power or remedy by Trustee or
Beneficiary at any other time.
13. CIVIL ACTION. In the event that the Trustee is named as a party to any civil action as Trustee in this Deed of Trust the
Trustee shall be entitled to employ an attorney at law, including himself if he is a licensed attorney, to represent him in said action
and the reasonable attorney's fee of the Trustee in such action shall be paid by the Beneficiary and added to the principal of the Note
secured by this Deed of Trust and bear interest at the rate provided in the Note for sums due after default.
14. PRIOR LIENS. Default under the terms of any instrument secured by a lien to which this Deed of Trust is subordinate shall
constitute default hereunder.
15. OTHER TERMS.
;00054466.13017; DOC; NC Bu Association Form No. 5 r 1976. Revised t-' September 1995,20(P-
Printed
985,20(13Printed by Agreement aith the NC Bar Association - 1981

BK 264 PG 217 DOC#403694
iN WITNESS WHEREOF, the Grantor has duly executed the foregoing as of the day and year first above written.
SHEARWATER DEVELOPMENT GROUP, LLC
city N e)
By.
Title: ?K "t Gr 4 Me ,,t ber-
Title:
By:,
(SEAL)
(SE -AL)
(SEAL)
State of North Carolina - County of UAY
1, the undersigned Notary Public of the County and State aforesaid, certify that uy f " ii(lit S
try►gonally appeared • before me this day and
acknowledged the due execution of the foregoing instrum n W000crein expressed. Witness my hand and Notarial
stamp or seal this Yof-16YAW
My Commission Expires: = Notary Publle -fiLdb,
Dow County N Public
J nnifer M. Hurdle
State of North Carolina - County of
igRTNCA��s`��
I, the undersigned Notary Public of the County and Lie aforesaid, certify that
personally came before me this day and acknowledged that he is the
of 'a North Carolina or corporation/limited
liability companylgeneral partnership/limited partnership (strike through the inapplicable), and that by authority duly given and as
the act of such entity, _he signed the foregoing instrument in its name on its behalf as its act and decd. Witness my hand and
Notarial stamp or seal, this day of 20—.
�Iy Commission Expires:
Notary Public
State of North Carolina - County of
1, the undersigned Notary Public of the County and State aforesaid, certify that
Witness my hand and Notarial stamp or seal, this ' day of 20
My Commission Expires:
Notary Public
The foregoing Certificates) of
is/are certified to be correct. This instrument and this certificate are duly registered at the date and time and in the Book and Page
shown on the fast page hereof.
Register of Deeds for County
By: DeputyiAssistant - Register of Deeds
,00054466.DOCl DOC,'NC Bar Association Form No. 5 I -D 1976. Revised September 1985,20M
Printed by Agreement nith the NC Bar Association -1981 ,

BK 264 PG 218 DOC#403694
EXHIBIT "A"
PROPERTY DESCRIPTION
BEING all those certain lots or parcels of land lying and being in the Village of Ocracoke, in
Ocracoke Township, Hyde County, North Carolina, and known and designated as and being
Lots, 52, 53, 54, 55, 60, 61, 63, 64, 65, 66, 67, 69, 71, 72, 75, 76, 77, 78 and 79, in the
subdivision know as Beachside Extension, as shown and delineated on a map or plat of said
subdivision entitled "Map of the Beachside Extension, Ocracoke Township, Hyde County, NC,
Property of R.S. Wahab," made by J.L. Foy, Register Surveyor, June 1960, and recorded in Map
Cabinet A, Slide 69B(2), Hyde County Registry, and formerly recorded in Map Book 1, Page 52,
Hyde County Registry.

RE: Lot 67, Pamlico Point
Ocracoke, Hyde County, North Carolina
As contracted purchaser of the above referenced property, I authorize Quible & Associates,
P.C. (Quible) to act as agent for the purpose of environmental permitting, including USACE and
DWR pe its if nec9ssaw.
Authorized Signature
Name: Coastal NC Holdings Date: 2
Alex Wolcott

60 1
-----------
I
PROPOSED
404 WETLAND
FILL 4,335 SF
I
I
I w
I $
i 66
I N
I a
I �
BEACH51DE EXTEM51ON
M.B. A, Fi5 64-B2 I
s4
8' M95L
PROPOSED
2 BR
SFD ON
W.00' — 5 62' 30' OO' E
NOTES:
.1. APPLICANT: COASTAL NC HOLDINGS, ATTN: ALEX WOLCOTT
2. PIN: 9500-67-1988
3. LOT AREA = 6,749 sgft / 0.15 acres
(AREAS BY COORDINATE METHOD.)
4. REFERENCES: DB 223, PG 245; PC A. SL 6982
5. BOUNDARY INFORMATION SHOWN BASED ON PC A. SL 6982
WETLAND INFORMATION SHOWN BASED WETLAND DELINEATION MAP BY OUIBLE k
ASSOCIATES, PC, DATED 03/29/12. AND CONFIRMED BY USCOE.
7. PROPERTY IS LOCATED IN NFIP FLOOD ZONE AE (EL6) AND SUBJECT TO CHANGES.
BASED ON COMMUNITY CID NO. 370133; PANEL 9500; SUFFIX J. (MAP# 37209500/
EFFECTIVE DATE: 05/15/03
B. THIS PLAN SUBJECT TO ANY FACTS, INCLUDING BUILDING SETBACK RESTRICTIONS,
EASEMENTS, COVENANTS, ETC., THAT MAY BE REVEALED BY A FULL AND ACCURATE
TITLE SEARCH.
,J
PROPOSED
2 BR PEAT
SYSTEM
�tncn30, R/W
M
I
I
I
I
i
I
I
I
I
I
PRDJFCT
COPYRIGHT © 2015
NATIONWIDE 18 PILI, PERMIT
OUIBLE k ASSOCIATES, P.C.
P06107.3
THIS DOCUMENT IS THE PROPERTY OF
SINCE 1959
•, • �e��
COASTAL NC HO' INGS
OTERA &ASSOCIATES, P.C. ANY
uible
DRAWN BY
ALTERATION OF THIS DOCUMENT t5
& Associates, P.C.
JMH
IF THIS DOCUMENTHISTNOT SIGNED AND
LOT 67, PAAMICO POMT
SEALED BY A LICENSED PROFESSIONAL
THEN THIS DOCUMENT SHALL BE
ENGINEERING • CONSULTING • PLANNING
ENVIRONMENTAL SCIENCES • SURVEYING
CHECKED BY
OCRACOKE HYDE COUNTY
BDR
CONSIDERED PRELIMINARY, NOT A
CERTIFIED DOCUMENT AND SHALL NOT
BE USED FOR CONSTRUCTION,
NORTH CAROLINA
NC License #: C-0208
PO Drawer 870, K;hy Hawk, NC 27949
0 20• 40'
DATE
RECORDATION, SALES OR LAND
Phone: [phone]
CONVEYANCES, UNLESS OTHERWISE
Fan: [phone]
1/6/16
NOTED.
GRAPHIC SCALE IN FEET 1'=20'
E -Mail: a dmin,frafar6quIbIu.com