SW3240101_Property Deed_20240517 (2)

( ie*uromerClalA//leAoe AGREEMENT FOR PURCHASE AND SALE OF LAND
1 t
,7F At'oq'North Carolina Association
of REALTORS,
THIS AGREEMENT,including any and all addenda attached hereto("Agreement"),is by and between
HB Land Holdings.LI.0 _
a(n) North Carolina LLC ("Buyer").and
(individual or State of formation and type of entity)
Starnes Commercial Properties,LLC and William Dale Smith,Jr. .
a(n) ("Seller").
(individual or State of formation and type of entity)
(NOTE: If the Buyer or Seiler is an entity,in order to form a binding agreement and complete a transaction,the entitles listed
as Buyer or Seller in this Agreement should be validly formed and in good standing with the Secretary of State in the State of
formation of the entity.)
FOR AND IN CONSIDERATION OF THE MUTUAL PROMISES SET FORTH HEREIN AND OTHER GOOD AND
VALUABLE CONSIDERATION, THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, THE
PARTIES HERETO AGREE AS FOLLOWS:
Section 1.Terms and Definitions:The terms listed below shall have the respective meaning given them as set forth adjacent to each
term.
(a) "Property": (Address)112400 Old Camden Road,Lot 2(approx. 16.896 acres)
Plat Reference: Lot(s) . Block or Section . as shown on Plat Book or Slide
00095 at Page(s) 00056 , Cabarrus County,consisting of 16.896 acres.
0 If this box is checked, "Property" shall mean that property described on Exhibit A attached hereto and incorporated
herewith by reference,
(For information purposes:(i)the tax parcel number of the Property is: 55249697700000 and
(ii)some or all of the Property,consisting of approximately_ acres,is described in Deed Book
Page No. , County.)
together with all buildings and improvements thereon and all fixtures and appurtenances thereto.
s 800,000.00 (b) "Purchase Price"shall mean the sum of eight hundred thousand dollars
Dollars,
or,if this box is checked 0,Purchase Price shall mean the sum of S per gross acre
("Price Per Acre")as determined by a survey obtained by Buyer prior to the expiration of the Examination
Period("Survey"). Buyer shall provide a copy of the Survey to Seller not later than the expiration of the
Examination Period, The purchase price shall be determined by multiplying the Price Per Acre by the
number of gross acres as determined by the Survey. Adjustments to the amounts due under Sections
I(bxii) - 1(b)(iii) shall be made, as applicable, to reflect any adjustment in the Purchase Price in
accordance with this provision.The Purchase Price shall be payable on the following terms:
S 40,000.00 (i)"Earnest Money"shall mean forty thousand dollars
Dollars
or terms as follows:
- -
The Earnest Money shall be deposited in escrow with
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I ilt This form jointly approved by: STANDARD FORM 580E-T
North Carolina Bar Association Adopted 7/2020 Carolina Association of REALTORSm,Inc. ®7/2020
Buyer Initials Seller Initials (5 llid S.

(name of person/entity with whom
deposited- "Escrow Agent") within five (5) calendar days of the Contract Date, to be applied as part
payment of the Purchase Price of the Property at Closing,or disbursed as agreed upon under the provisions
of Section 10 herein. Should Buyer fail to deliver the Earnest Money by the date required hereunder, 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 of such dishonor to deliver
cash,official bank check,wire transfer or electronic transfer to the Escrow Agent. If Buyer fails to deliver
the required funds within one (1) banking day after written notice, then Seller may terminate this
Agreement by written notice to Buyer at any time thereafter, provided Seller has not then received
acknowledgement by Escrow Agent of its receipt of funds from Buyer. If the Escrow Agent has not
delivered to the Seller the acknowledgement of Earnest Money on the last page of this Agreement by the
calendar day following the date the Earnest Money is required to be delivered hereunder, it shall be
presumed that the Earnest Money was not delivered by the required time(unless,upon the written request
of Seller,Escrow Agent can provide proof of its receipt of the Earnest Money by the required time).Buyer
and Seller consent to the disclosure by the Escrow Agent, to the parties to this Agreement, the Broker(s)
and any Buyer lender,of any material facts pertaining to the Earnest Money.
❑ ANY EARNEST MONEY DEPOSITED BY BUYER IN A TRUST ACCOUNT MAY BE
PLACED IN AN INTEREST BEARING TRUST ACCOUNT,AND: (check only ONE box)
❑ ANY INTEREST EARNED THEREON SHALL BE APPLIED AS PART PAYMENT OF THE
PURCHASE PRICE OF THE PROPERTY AT CLOSING, OR DISBURSED AS AGREED UPON
UNDER THE PROVISIONS OF SECTION 10 HEREIN. (Buyer's Taxpayer Identification Number
is: )
❑ ANY INTEREST EARNED THEREON SHALL BELONG TO THE ACCOUNT HOLDER IN
CONSIDERATION OF THE EXPENSES INCURRED BY MAINTAINING SUCH ACCOUNT
AND RECORDS ASSOCIATED THEREWITH.
S (ii) Delivery of a nromissory note secured by a deed of trust, said promissory note in the amount of
Dollars
being payable over a term of years,with an amortization period of years,payable in monthly
installments of principal, together with accrued interest on the outstanding principal balance at the rate
of percent( %)per annum in the amount of$_
,with the first principal payment beginning on the first day of the month next succeeding the date
of Closing,or such other terms as may be set forth on Exhibit B. At any time,the promissory note may be
prepaid in whole or in part without penalty and without further interest on the amounts prepaid from the
date of such prepayment. (NOTE: In the event of Buyer's subsequent default upon a promissory note
and deed of trust gtven hereunder,Seller's remedies may be limited to foreclosure of the Property. If
the deed of trust given hereunder is subordinated to senior financing, the material terms of such
financing must be set forth on Exhibit B. If such senior financing Is subsequently foreclosed, the
Seller may have no remedy to recover under the note.)
S 760,000.00
(iii)fasA balance of Purchase Price at Closing in the amount of
seven hundred and sixtylhousatd Dollars
Buyer,at Buyer's expense.shall be entitled to pursue qualification for and approval of any loan Buyer intends to obtain in connection
with the transaction contemplated by this Agreement. (Note: Buyer's obligations under this Agreement are not conditioned upon
obtaining or closing any loan.Therefore, Buyer Ls advised to consult with Buyer's lender prior to signing this offer to assure
that the Examination Period allows sufficient time for Buyer's lender to provide Buyer suffident information to decide
whether to proceed with or terminate the transaction.)
(c) "Closing"shall mean the date of completion of the process detailed in Section 11 of this Agreement. Closing shall
occur on or before July 31,2023 or
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(d) "Contract Date"means the date this Agreement has been fully executed by both Buyer and Seller
(e) "Examination Period" shall mean the period beginning on the first day after the Contract Date and extending
through 5:00pm(based upon time at the locale of the Property)on
none
TIME IS OF THE ESSENCE AS TO THE EXAMINATION PERIOD.
(f) "Brokerfs)"shall mean:
none _ _ _ _ ("Listing Agency"),
^("Listing Agent"-License#_ _ t
Acting as: ❑ Seller's Agent; ❑ Dual Agent
and ("Selling Agency"),
("Selling Agent"-License#
Acting as: ❑ Buyer's Agent; ❑ Seller's(Sub)Agent; ❑ Dual Agent
(g) "Seller's Notice Address"shall be as follows:
PO Box 5371,Charlotte,NC 28299
e-mail address: [e-mail] fax number:
except as same may be changed pursuant to Section 12.
(h) "Buyer's Notice Address"shall be as follows:
8127 Fairview Road,Mint Rill,NC 28227
e-mail address: fax number;
except as same may be changed pursuant to Section 12.
❑ (i) If this block is marked, additional terms of this Agreement are set forth on Exhibit B attached hereto and
incorporated herein by reference. (Note: Under North Carolina law, real estate agents are not permitted to
draft conditions or contingencies to this Agreement)
❑ (j) If this block is marked, additional terms of this Agreement are set forth on the Additional Provisions Addendum
(Form 58I-T)attached hereto and incorporated herein by reference.
❑ (k) If this block is marked, additional terms of this Agreement are set forth on the Back Up Agreement Addendum
(Form 58I A-T)attached hereto and incorporated herein by reference.
Section 2. Sale of Property and Payment of Purchase Price: Seller agrees to sell and Buyer agrees to buy the Property for the
Purchase Price.
Section 3. Proration of Expenses and Payment of Costa: Seller and Buyer agree that all property taxes(on a calendar year basis),
leases, rents, mortgage payments and utilities or any other assumed liabilities as detailed on attached Exhibit B, if any, shall be
prorated as of the date of Closing. Seller shall pay for preparation of a deed and all other documents necessary to perform Seller's
obligations under this Agreement,excise tax(revenue stamps),and other conveyance fees or taxes required by law,any fees required
for confirming Seller's account payment information on owners'association dues or assessments for payment or proration;any fees
imposed by an owners' association and/or a management company as agent of the owners' association in connection with the
transaction contemplated by this Agreement other than those fees required to be paid by Buyer in this Section 3 below, and the
following:
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Buyer shall pay recording costs, costs of any title search, title insurance, survey, the cost of any inspections or investigations
undertaken by Buyer under this Agreement,charges required by an owners'association declaration to be paid by Buyer for Buyer's
future use and enjoyment of the Property,including,without limitation,working capital contributions,membership fees,or charges for
Buyer's use of the common elements and/or services provided to Buyer, any costs or charges for determining restrictive covenant
compliance,and the following:
Each party shall pay its own attomey's fees.
Deferred/Rollback Taxes: Buyer❑ intends to continue ❑does not intend to continue the existing present use valuation property tax
deferral(s) relating to the Property. In the event the Buyer intends to continue the existing present use valuation property tax
deferral(s)relating to the Property, Buyer shall be responsible for making all necessary applications for continuation of the existing
present use valuation property tax deferral(s) relating to the Property and shall be responsible for payment of any deferred/rollback
taxes applicable to the Property.
If Buyer does not intend to continue the existing present use valuation property tax deferral(s)relating to the Property,❑Seller
❑Buyer shall be responsible for payment of any deferred/rollback taxes applicable to the Property.
Section 4.Deliveries:Seller agrees to use best efforts to deliver to Buyer,as soon as reasonably possible after the Contract Date,copies
of all mutcnal information relevant to the Property in the possession of Seller,including but not limited to: information regarding matters
detailed on Form 502- Land Information Worksheet,title insurance policies(and copies of any documents referenced therein),surveys,
soil test reports, environmental surveys or reports, site plans, civil drawings, building plans, maintenance records and copies of all
presently effective warranties or service contracts related to the Property. Seller authorizes (I) any attorney presently or previously
representing Seller to release and disclose any ntle insurance policy in such attomey's file to Buyer and both Buyer's and Seller's agents
and attorneys,and(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. If Buyer does not consummate the Closing for any
reason other than Seller default, then Buyer shall return to Seller all hard copy materials delivered by Seller to Buyer pursuant to this
Section 4(or Section 7,if applicable),if any,and shall, upon Seller's request,following release of the Earnest Money,provide to Seller
copies of(subject to the ownership and copyright interests of the preparer thereof) any and all studies, reports, surveys and other
information relating directly to the Property prepared by or at the request of Buyer,its employees and agents, without any warranty or
representation by Buyer as to the contents,accuracy or correctness thereof.Notwithstanding the above provisions regarding delivery and
return of information and documentation,should there exist a separate non-disclosure,confidentiality,or similar agreement between
Buyer and Seller,the terms of which conflict with this provision insofar as delivery and return of information and documentation,then
the terms of such nun-disclosure,confidentiality,or similar agreement shall control as to the delivery and return of information and
documentation.
Section 5.Evidence of Title: Seller agrees to convey fee simple insurable title to the Property without exception for mechanics'liens,
free and clear of all liens,encumbrances and defects of'title other than: (a)zoning ordinances affecting the Property, (b)Leases(as
defined in Section 7, if applicable)and (c) specific instruments on the public record at the Contract Date agreed to by Buyer(not
objected to by Buyer prior to the end of the Examination Penod), which specific instruments shall be enumerated in the deed
referenced in Section I I (items 5(a),5(b)and 5(c)being collectively"Permitted Exceptions"):provided that Seller shall be required to
satisfy,at or prior to Closing,any encumbrances that may be satisfied by the payment of a fixed sum of money,such as deeds of trust,
mortgages or statutory liens. Seller shall not enter into or record any instrument that affects the Property after the Contract Date
without the prior written consent of Buyer,which consent shall not be unreasonably withheld,conditioned or delayed.
Section b.Conditions:This Agreement and the rights and obligations of the parties under this Agreement are hereby made expressly
conditioned upon fulfillment(or waiver by Buyer,whether explicit or implied)of the following conditions:
(a) Title Examination:After the Contract Date,Buyer shall,at Buyer's expense,cause a title examination to be made of the
Property before the end of the Examination Period. in the event that such title examination shall show that Seller's title is not fee
simple insurable,subject only to Permitted Exceptions, then Buyer shall promptly notify Seller in writing of all such title defects and
exceptions,in no case later than the end of the Examination Period,and Seller shall have thirty(30)days to cure said noticed defects.
If Seller does not cure the defects or objections within thirty(30)days of notice thereof,then Buyer may terminate this Agreement and
receive a return of F.arnest Money (notwithstanding that the Examination Period may have expired). If Buyer is to purchase title
insurancc. the insuring company must be licensed to do business in the state in which the Property is located. Title to the Property
must be insurable at regular rates,subject only to standard exceptions and Permitted Exceptions.
(b) Same Condition. If the Property is not in substantially the same condition at Closing us of the date of the offer,
reasonable wear and tear excepted,then the Buyer may(i)terminate this Agreement and receive a return ot'the Earnest Money or(ii)
proceed to Closing whereupon Buyer shall be entitled to receive, in addition to the Property,any of the Seller's insurance proceeds
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payable on account of the damage or destruction applicable to the Property.
(c) Inspections: Buyer, its agents or representatives, at Buyer's expense and at reasonable times during normal business
hours,shall have the right to enter upon the Property for the purpose of investigating matters such as those detailed on Form 502-Land
Information Worksheet,conducting timber cruises,and examining and surveying the Property;provided,however,that Buyer shall not
conduct any invasive testing of any nature without the prior express written approval of Seller as to each specific invasive test
intended to be conducted by Buyer. Buyer shall conduct all such on-site inspections, examinations, testing, timber cruises and
surveying of the Property in a good and workmanlike manner,at Buyer's expense,shall repair any damage to the Property caused by
Buyer's entry and on-site inspections and shall conduct same in a manner that does not unreasonably interfere with Seller's or any
tenant's use and enjoyment of the Property. In that respect, Buyer shall make reasonable efforts to undertake on-site inspections
outside of the hours Seller's or any tenant's business is open to the public. Buyer shall provide Seller or any tenant(as applicable)
reasonable advance notice of and Buyer shall cause its agents or representatives and third party service providers (e.g. inspectors,
surveyors, etc.)to give reasonable advance notice of any entry onto the Property. Buyer shall be obligated to observe and comply
with any terms of any tenant lease which conditions access to such tenant's space at the Property. Upon Seller's request,Buyer shall
provide to Seller evidence of general liability insurance. Buyer shall also have a right to review and inspect all contracts or other
agreements affecting or related directly to the Property and shall be entitled to review such books and records of Seller that relate
directly to the operation and maintenance of the Property,provided,however,that Buyer shall not disclose any information regarding
this Property(or any tenant therein)unless required by law,and the same shall be regarded as confidential,to any person,except to its
attorneys, accountants, lenders and other professional advisors, in which case Buyer shall obtain their agreement to maintain such
confidentiality.Buyer assumes all responsibility for the acts of itself and its agents or representatives in exercising its rights under this
Section 6(c)and agrees to indemnify and hold Seller harmless from any damages resulting therefrom.This indemnification obligation
of Buyer shall survive the Closing or earlier termination of this Agreement. Except as provided in Section 6(a)above,Buyer shall
have from the Contract Date through the end of the Examination Period to perform the above inspections,examinations and testing.IF
BUYER CHOOSES NOT TO PURCHASE THE PROPERTY, FOR ANY REASON OR NO REASON, AND PROVIDES
WRITTEN NOTICE TO SELLER THEREOF PRIOR TO THE EXPIRATION OF THE EXAMINATION PERIOD,THEN
THIS AGREEMENT SHALL TERMINATE,AND BUYER SHALL RECEIVE A RETURN OF THE EARNEST MONEY.
Section 7.Leases(Check one of the following,as applicable):
® Ii 'I,r, h x is checked, Seller affirmatively represents and warrants that there are no Leases (as hereinafter defined)
affecting the l'rrrpvrty
0 If this box is checked, Seller discloses that there are one or more leases affecting the Property ("Leases"), and the
following provisions are hereby made a part of this Agreement.
(a) A list of all Leases shall be set forth on Exhibit B. Seller represents and warrants that,as of the Contract Date,there are
no other Leases,oral or written,recorded or not,nor any subleases affecting the Property,except as set forth on Exhibit B;
(b) Seller shall deliver copies of any Leases to Buyer pursuant to Section 3 as if the Leases were listed therein;
(c) Seller represents and warrants that,as of the Contract Date,there are no current defaults(or any existing situation which,
with the passage of time,or the giving of notice,or both,or at the election of either landlord or tenant could constitute a default)either
by Seller,as landlord,or by any tenant under any Lease("Lease ikfault"), In the event there is any Lease Default as of the Contract
Date, Seller agrees to provide Buyer with a detailed description of the situation in accordance with Section 3. Seller agrees not to
commit a Lease Default as Landlord after the Contract Date;and agrees further to notify Buyer immediately in the event a Lease
Default arises or is claimed,asserted or threatened to be asserted by either Seller or a tenant under the Lease.
(d) Dunng the Examination Period, Buyer and Seller shall cooperate in good faith to determine if any Lease shall be
terminated prior to Closing or shall continue after Closing. As to any Jesse determined to continue after Closing, Seller shall deliver
an assignment of Seller's interest in such Lease to Buyer in form and content acceptable to Buyer(with tenant's written consent and
acknowledgement, if required under the Lease). Seller agrees to deliver such assignment of Lease at or before Closing, with any
security deposits held by Seller under any Leases to he transferred or credited to Buyer at or before Closing. The assignment shall
provide: (i) that Seller shall defend, indemnify and hold Buyer harmless from claims, losses, damages and liabilities (including,
without limitation, court costs and attorneys' fees)asserted against or incurred by Buyer which are caused by or the result of any
default by Seller wider any Lease pnur to the date of Closing,and(U)that Buyer shall defend, indemnify and hold Seller harmless
from claims,losses,damages and liabilities(including,without limitation,court costs and attorneys' fees)asserted against or incurred
by Seller which are caused by or the result of any default by Buyer under any Lease after the date of Closing.
(c) Seller also agrees to work diligently to obtain any tenant signatures on any estoppel certificates in such form as Buyer
may reasonably request and to work diligently to obtain any subordination,nondisturbance and attornment agreements in such firm as
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Buyer may reasonably request.
Secdon 8. Environmental/Physical Aspects of Property: Seller represents and warrants that it has no actual knowledge of the
presence or disposal, except as in accordance with applicable law, within any structures on the Property or on the Property of
hazardous or toxic waste or substances,which are defined as those substances, materials, and wastes, including, but not limited to:
those substances,materials and wastes listed in the United States Department of Transportation Hazardous Materials Table(49 CFR
Part 172.101)or by the Environmental Protection Agency as hazardous substances(40 CFR Part 302.4)and amendments thereto, or
such substances, materials and wastes, which are or become regulated under any applicable local, state or federal law, including,
without limitation, any material, waste or substance which is (i) petroleum, (ii) asbestos, (iii) polychlorinated biphenyls, (iv)
designated as a Hazardous Substance pursuant to Section 311 of the Clean Water Act of 1977(33 U.S.C.§1321)or listed pursuant to
Section 307 of the Clean Water Act of 1977(33 U.S.C. §1317), (v) defined as a hazardous waste pursuant to Section 1004 of the
Resource Conservation and Recovery Act of 1976(42 U.S.C. §6903)or(vi)defined as a hazardous substance pursuant to Section 101
of the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. §9601). Seller has no actual
knowledge of any contamination of the Property iiom such substances as may have been disposed of or stored on neighboring tracts.
Secdon 9. Risk of Loss/Damage/Repalr: Until Closing, the risk of loss or damage to the Property, except as otherwise provided
herein,shall be borne by Seller.Except as to maintaining the Property in its same condition,Seller shall have no responsibility for the
repair of the Property,including any improvements,unless the parties hereto agree in writing.
Section 10, Earnest Money Disbursement: In the event that any condition hereto is not satisfied,then the Earnest Money shall be
refunded to Buyer. in the event of breach of this Agreement by Seller, the Earnest Money 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
Agreement by Buyer,the Earnest Money shall be paid to Seller as liquidated damages and as Seller's sole and exclusive remedy for
such breach,but without limiting Seller's rights under Section 6(c)or Section 22 of this Agreement. it is acknowledged by the parties
that payment of the Earnest Money to Seller in the event of a breach of this Agreement 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 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.
NOTE: In the event of a dispute between Seller and Buyer over the disposition of the Earnest Money held in escrow,a licensed real
estate broker is required by state law(and Escrow Agent, if not a broker, hereby agrees)to retain the Earnest Money 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 is holding the Earnest Money, the broker or attorney may deposit the disputed monies with the appropriate clerk of
court in accordance with the provisions ofN.C.G.S.§93A-12.
Seller and Buyer hereby agree and acknowledge that the Escrow Agent assumes no liability in connection with the holding of the
Earnest Money pursuant hereto except for negligence or willful misconduct of Escrow Agent. Escrow Agent shall not be responsible
for the validity,correctness or genuineness of any document or notice referred to under this Agreement- Seller and Buyer hereby
agree to indemnify,protect,save and hold harmless Escrow Agent and its successors,assigns and agents pursuant to this Agreement,
from any and all liabilities, obligations, losses, damages, claims, actions, suits, costs or expenses (including attorney fees) of
whatsoever kind or nature imposed on, incurred by or asserted against Escrow Agent which in any way relate to or arise out of the
execution and delivery of this Agreement and any action taken hereunder,provided,however,that Seller and Buyer shall have no such
obligation to indemnify,save and hold harmless Escrow Agent for any liability incurred by,imposed upon or established against it as
a result of Escrow Agent's negligence or willful misconduct.
Section IL Closing:At or before Closing,Seller shall deliver to Buyer a special warranty deed unless otherwise specified on Exhibit
B and other documents customarily executed or delivered by a seller in similar transactions,including without limitation,an owner's
affidavit, lien waiver forms(and such other lien related documentation as shalt permit the Property to be conveyed free and clear of
any claim for mechanics' liens)and a non-foreign status affidavit(pursuant to the Foreign Investment in Real Property Tax Act),and
Buyer shall cause to be delivered the funds necessary to pay to Seller the Purchase Price.The Closing shall be conducted by Buyer's
attorney or handled in such other manner as the parties hereto may mutually agree in writing. Possession shall be delivered at Closing,
unless otherwise agreed herein.The Purchase Price and other funds to be disbursed pursuant to this Agreement shall not be disbursed
until the Buyer's attorney's(or other designated settlement agent's)receipt of authorization to disburse all necessary funds.
Section 12. Notices: Unless otherwise provided herein,all notices and other communications which may be or are required to be
given or made by any party to the other in connection herewith shall be in writing(which shall include electronic mail)and shall be
deemed to have been properly given and received(i)on the date delivered in person or(ii) the date deposited in the United States
mail, registered or certified, return receipt requested, to the addresses set out in Section 1(g)as to Seller, and in Section l(h)as to
Buyer,or at such other addresses as specified by written notice delivered in accordance herewith, (iii) at such time as the sender
performs the final act to send such transmission, in a form capable of being processed by the receiving party's system, to any
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electronic mail address or facsimile number,if an provided in Section 1(g)as to Seller,and in Section I h)as to Buyer or(iv)on the
any, ( Y
date deposited with a recognized overnight delivery service, addressed to the addresses set out in Section 1(g) as to Seller, and in
Section 1(h)as to Buyer,or at such other addresses as specified by written notice delivered in accordance herewith. If a notice is sent
by more than one method,it will be deemed received upon the earlier of the dates of receipt pursuant to this Section.
Section 13.Counterparts;Entire Agreement:This Agreement may be executed in one or more counterparts,which taken together,
shall constitute one and the same original document. Copies of original signature pages of this Agreement may be exchanged via
facsimile or e-mail,and any such copies shall constitute originals. This Agreement constitutes the sole and entire agreement among
the parties hereto and no modification of this Agreement shall be binding unless in writing and signed by all parties hereto. The
invalidity of one or more provisions of this Agreement shall not affect the validity of any other provisions hereof and this Agreement
shall be construed and enforced as if such invalid provisions were not included.
Section 14. Enforceability: This Agreement shall become a contract when signed by both Buyer and Seller and such signing is
communicated to both parties; it being expressly agreed that notice given in accordance with Section 12 is not required for effective
communication for the purposes of this Section 14. The parties acknowledge and agree that:(i)the initials lines at the bottom of each
page of this Agreement are merely evidence of their having reviewed the terms of each page,and(ii)the complete execution of such
initials lines shall not be a condition of the effectiveness of this Agreement. This Agreement shall be binding upon and inure to the
benefit of the parties,their heirs,successors and assigns and their personal representatives.
Section 15.Adverse Information and Compliance with Laws:
(a)Seller Knowledee/Assessments; Seller has no actual knowledge of(i)condemnation(s)affecting or contemplated with
respect to the Property;(ii)actions,suits or proceedings pending or threatened against the Property;(iii)changes contemplated in any
applicable laws,ordinances or restrictions affecting the Property;(iv)governmental special assessments,either pending or confirmed,
for sidewalk, paving, water, sewer, or other improvements on or adjoining the Property, and no pending or confirmed owners'
association special assessments or(v)any caves, mineshafts, tunnels, fissures,open or abandoned wells,gravesites,pet cemeteries,
animal burial pits or landfill operations(past or present)located at the Property,except as follows(Insert"None"or the identification
of any matters relating to(i)through(v)above,if any):
sand/erosion pond plan submitted to NCDEQ for review and approval on 3/10/2023
Note: For purposes of this Agreement: (i) a "special assessment" is defined as 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 a lien against the Property;a special assessment may be either
pending or confirmed;(ii) .a"confirmed"special assessment is defined as an assessment that has been approved by a governmental
agency or an owners' association for the purpose(s) stated, whether, at the time of Closing, it is payable in a lump sum or future
installments; (iii)a"pending"special assessment is defined as an assessment that is under formal consideration by a governmental
agency or an owners' association but which has not been approved prior to Closing. Seller shall pay,in full at Closing,all confirmed
governmental or association special assessments, provided that the amount thereof can be reasonably determined or estimated. The
payment of such determined or estimated amount shall be the final payment between Buyer and Seller as to any confirmed special
assessments. If the amount of any special assessment cannot be reasonably determined or estimated,the special assessment shall be
deemed a pending special assessment. Buyer shall take title subject to all pending special assessments disclosed by Seller herein, if
any.
(b) Compliance: To Seller's actual knowledge, (i) Seller has complied with all applicable laws, ordinances, regulations,
statutes, rules and restrictions pertaining to or affecting the Pmperty;(ii)performance of the Agreement will not result in the breach
of,constitute any default under or result in the imposition of any lien or encumbrance upon the Property under any agreement or other
instrument to which Seller is a party or by which Seller or the Property is bound;and(iii)there are no legal actions,suits or other legal
or administrative proceedings pending or threatened against the Property,and Seller is not aware of any facts which might result in
any such action,suit or other proceeding.
(c) Owners'Associatlo,: If the Property is subject to regulation by an owners'association,Seller shall deliver the following
information to Buyer pursuant to Section 4 as if the same were listed therein(or Seller shall state that Seller does not have same in
their possession or that such item is not applicable): (i)the name of the owners'association;(ii)the amount of regular assessments
(dues); (iii) the name, address and telephone number of the president of the owners' association or of the association manager or
management company;(iv)the owners' association websrte address;(v)the Seller's statement of account; (vi)the master insurance
policy showing the coverage provided and the deductible amount;(vii)copies of any Declaration and/or Restrictive Covenants;(viii)
the Rules and Regulations,(ix)the Articles of Incorporation and Bylaws of the owners'association;(x)the current financial statement
and budget of the owners' association; (xi) the parking restrictions and information; and (xii) the architectural guidelines. Seller
authorizes and directs any owners'association,any management company of the owners'association,any insurance company and any
attorney who has previously represented the Seller to release to Buyer, Buyer's agents,representative,closing attorney or lender true
,l Page 7 of 9
Buyer initials F_.N, Seller Initials W P$ STANDARD FORM 580E-T
Adopted 7/2020
©7/2020

and accurate copies of the foregoing items affecting the Property,including any amendments thereto.
Section 16.Survival of Representations and Warranties:All representations, warranties,covenants and agreements made by the
parties hereto shall survive the Closing and delivery of the deed. Seller shall, at or within six (6) months after the Closing, and
without further consideration,execute,acknowledge and deliver to Buyer such other documents and instruments,and take such other
action as Buyer may reasonably request or as may be necessary to more effectively transfer to Buyer the Property described herein in
accordance with this Agreement.
Section 17.Applicable Law: This Agreement shall be construed under the laws of the state in which the Property is located. This
form has only been approved for use in North Carolina.
Section 18. Assignment: This Agreement is freely assignable unless otherwise expressly provided on Exhibit B.
Section 19.Tax-Deferred Exchange: In the event Buyer or Seller desires to effect a tax-deferred exchange in connection with the
conveyance of the 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. Seller and Buyer shall execute such additional
documents,at no cost to the non--exchanging party,as shall he required to give effect to this provision.
Section 20. Memorandum of Contract: Upon request by either party, the parties hereto shall execute a memorandum of contract in
recordable form setting forth such provisions hereof(other than the Purchase Price and other sums due)as either party may wish to
incorporate. Such memorandum of contract shall contain a statement that it automatically terminates and the Property is released from
any effect thereby as of a specific date to be stated in the memorandum(which specific date shall be no later than the date of Closing).
The cost of recording such memorandum of contract shall he borne by the party requesting execution of same.
Section 21. Authority: Each signatory to this Agreement represents and warrants that he or she has full authority to sign this
Agreement and such instruments as may be necessary to effectuate any transaction contemplated by this Agreement on behalf of the
party for whom he or she signs and that his or her signature binds such party.
Section 22. Brokers Except as expressly provided herein, Buyer and Seller agree to indemnify and hold each other harmless from
any and all claims of brokers,consultants or real estate agents by. through or under the indemnifying party for fees or commissions
arising out of the sale ot'the Property to Buyer Buyer and Seller represent and warrant to each other that:(i)except as to the Brokers
designated under Section I(t)of this Agreement, they have not employed nor engaged any brokers,consultants or real estate agents to
be involved in this transaction and (ii) that the compensation of the Brokers is established by and shall be governed by separate
agreements entered into es amongst the Brokers,the Buyer and/or the Seller
Section 23.Attorneys Fees:If legal proceedings are instituted to enforce any prov ision of this Agreement,the prevailing party in the
proceeding shall he entitled to recover from the non-prevailing party reasonable attorneys tees and court costs incurred in connection
with the proceeding.
THE NORTH CAROLINA ASSOCIATION OF REALTORSO. INC. AND TIIE NORTH CAROLINA BAR ASSOCIATION
MAKE NO REI'RESENTA PION AS TO THE LEGA! VALIDITY Ott ADEQUA( Y OF ANY PROVISION OF TIIIS F()UM IId
ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT FT DOES NOT PROVIDE
FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU
SIGN IT.
BUYER: SELLER:
Individual Individual
William Dale Smith,Jr.
Date: _ Date:
Date: - - —- - Date:
Page 8 of 9
Buyer Initials fiti Seller Initials -T5 (" W S STANDARD FORM 580L-T
Adopted 7/2020
t 7/2020

Business Entity Business Entity
FIB Land Holdings,LLC Starnes C mmcrcial Properties,LLC,...__)
(�tantt of Entity) (Name
ocFl
Hy: n By: �
Name: /j 1 f/C. Name: Tommy H.Starnes,Jr.
Title: if/7Q"466,. Title: Member
Date: ! IO"-c?L �3 Date:
WIRE FRAUD WARNING
To Buyers: Before sending any wire, you should call the closing agent's office to verify the instructions. If you receive wiring
instructions for a different bank,branch location,account name or account number,they should be presumed fraudulent. Do not send
any funds and contact the closing agent's office immediately.
To Sellers: If your proceeds will he wired,it is recommended that you provide wiring instructions at closing in writing in the presence
of the closing agent. If you are unable to attend closing,you may be required to send an original notarized directive to the closing
agent's office containing the wiring instructions. This directive may be sent with the deed, lien waiver and tax forms if those
documents are being prepared for you by the closing agent. At a minimum,you should call the closing agent's office to provide the
wire instructions. The wire tnstnicnons should be verified over the telephone via a call to you initiated by the closing agent's office to
ensure that they are not from a fraudulent source.
Whether you are a buyer or a seller,you should call the closing agent's office at a number that is independently obtained. To enure
that your contact is legitimate, you should not rely on a phone number in an email from the closing agent's office, your real esinte
agent or anyone else.
The undersigned hereby acknowledges receipt of the Earnest Money set forth herein and agrees to hold said Earnest Money in
accordance with the terms hereof.
(Name of Escrow Agent)
Date:_ — — - By:
Escrow Agent's contact/notice information is as follows:
e-mail address:_ fax number.
except as same may be changed pursuant to Section 12.
Page 9 of 9 STANDARD FORM 580L-T
Adopted 712020
0 7/2020

16758 0194
FILED
CABARRUS COUNTY NC
WAYNE NIXON
REGISTER OF DEEDS
FILED Dec 20, 2023
oa ) 0AT 01:44 pm
Su,4Neo BOOK 16758
START PAGE 0194
END PAGE 0197
INSTRUMENT # 25850
EXCISE TAX $1,600.00
MNS
Tax Parcel Number 55249697700000(OUT OF 55340702340000) Excise Tax $1,600.00
Mail after recording to Grantee
This instrument was prepared by Neal W. Fisher,Attorney at Law
WITHOUT BENEFIT OF TITLE OPINION
1125 East Morehead Street,Suite 304
Charlotte,North Carolina 28204
Brief Description for the index Lot 2 Smith Industrial Park MB 95 at 56
NORTH CAROLINA SPECIAL WARRANTY DEED
THIS DEED made this the/$d y of December,2023,by and between
GRANTOR GRANTEE
Starnes Commercial Properties, LLC HB Land Holdings, LLC
(A NC Limited Liability Company) (A NC Limited Liability Company)
William Dale Smith,Jr. and wife, 8217 Fairview Road
Sheila H. Smith Charlotte, NC 28227
P. O. Box 5371
Charlotte, North Carolina 28299
Enter in appropriate block for each party:name.address.and.if appropriate.character of entity.e.g..corporation or partnership.
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, that the Grantor, for a 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 situated in the City of Midland, County of Cabarrus, State of
North Carolina and more particularly described as follows:
See attached Exhibit A being incorporated by reference herein.

16758 0195
The property was not the principal residence of the Grantor.
The property hereinabove described was acquired by instrument recorded in Deed Book 12481 at Page 186
in the office of the Register of Deeds for Cabarrus County,North Carolina.
A map showing the above described property is recorded in Map Book 95 Page 56 in the office of the
Register of Deeds for Cabarrus County,North Carolina.
TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto
belonging to the Grantee in fee simple.
And the Grantor covenants with the Grantee, that Grantor has done nothing to impair such title
as Grantor received, and that Grantor will warrant and defend the title against the lawful claims
of all persons claiming by, under or through Grantor, except for the exceptions hereinafter stated.
Title to the property hereinabove described is subject to the following exceptions:
Title to the property hereinabove described is hereby conveyed subject to all valid restrictions,
reservations,covenants,rights of ways and easements properly of record, if any and current year ad
valorem taxes.
IN WITNESS WHEREOF, the Grantor has hereunto set his hand and seal,or if corporate,has caused this
instrument to be signed in its corporate name by its duly authorized officers and its seal to be hereunto
affixed by authority of its Board of Directors,the day and year first above written.
/ (SEAL)
Me n M.Starnes-Moore,Manager
Starnes"� Commercial Properties,LLC
j+: le 0 !(7140,(SEAL)
Wil ' Dale ' h,J
i
„ (SEAL)
Sheila H.Smith
STATE OF NORTH CAROLINA,COUNTY OF SkOAVA
SEAL- I, ;va.1,_SMyl1ks the undersigned, a 1Jotary Public for the
STAMP County and State aforesaid, certify that Meghan M. Starnes-Moore, Manager of
��,,,�,,"",,,,,,,,,��� Starnes Commercial Properties, LLC, Grantor, personally appeared before me this
o`' \`;\:'•'_A___S. day and acknowledged that by authority duly given and as the act and deed of the
; k', "- s • --limited •liability company the execution of the foregoing instrument.
, OTq c
�,1 " Witness my hand and official stamp or seal this the I%4hday ofb&Lgo' a.t 2023.
-� ' �'.�L I G ,' i4y Commission Expires: r1'---A'a01-`1
•,,nn ,,
=y1�Y , .z Nota Public

16758 0196
STATE OF NORTH CAROLINA,COUNTY OF S ,l
SEAL- I, Me�i,q�e..S.\Mu..`uS the undersigned, a NiStary Public for the
STAMP County and State aforesaid, certify that William Dale Smith, Jr. and Sheila H.
Smith, Grantor, personally appeared before me this day and acknowledged the
execution of the foregoing instrument. 1�_
Witness my hand and official stamp or seal this the lay of u�._
em�;2023.
My Commission Expires: 1" att otar 1 ! ,`�� llllllllll
.�``����pq 5;
N Public �.4%- -
1C74, rs
,oej
=_;'' eLIC
v

16758 0197
EXHIBIT A
BEING all of Lot 2 of the Plat of Smith Industrial Park as same is shown in Map Book 95
at Page 56 of the Cabarrus County Register of Deeds for a more particular and detailed
description.