SWA000058_Option Deeds for Trivium_9/27/2019

Drawn by & Return to: John W. Crone, Ili, GORHAm & CRONE, LLP
Post Office Box 2507, Hickory, NC 28603-2507
State of North Carolina OPTION TO PURCHASE
County of Catawba
This Option to Purchase is effective the 1s' day of October, 2013, between Ruth
A. Hollar, Trustee of the Ruth B. Lutz Irrevocable Trust, dated July 19, 2012, hereinafter
collectively referred to as "Seller" and the Catawba County Economic Development
Corporation, a non-profit corporation under the laws of North Carolina, hereinafter
referred to as `Buyer".
WITNESSETH:
That the Seller, for and in consideration of the sum of Forty -Five Thousand
Dollars ($45,000.00) to be paid by the Buyer, as set out in Paragraph 6(a) hereinafter,
does hereby give and grant unto the Buyer, its heirs, assigns, or representatives, the
exclusive right and option to purchase all of that certain plot, piece or parcel of land
together with all improvements located thereon in the City of Newton, County of
Catawba, State of North Carolina, being known as and more particularly described as
follows:
See Exhibit A attached hereto and incorporated herein.
The terms and conditions of this option are as follows:
1. Option Period. This option shall be for a period of seven (7) years which shall
begin on October 1, 2013 and shall exist and continue until 12:01 o'clock a.m. on
October 1, 2020. A notice hereof may be recorded by either party; and this Option
(excluding Exhibit B) may be recorded as a legally binding Notice of the Option. TIME
IS OF THE ESSENCE WITH RESPECT TO THE OPTION PERIOD AND
EXERCISE.

2. Exercise. At any time during the option period Buyer may exercise this option by
hand delivery or deposit of written notice by certified or registered mail, return receipt
requested, to Seller at the following address that (i) this option is being exercised or (ii)
an option has been exercised on the "other option property" defined in paragraph 6(B)
below which deems this option to be exercised:
Ruth B. Lutz Irrevocable Trust
c/o Ruth A. Hollar
2405 Startown Road
Newton, NC 28658-8354
3. Contract upon Exercise. Upon exercise of this Option, the terms of the purchase
and sale agreement, a copy of which is attached hereto as Exhibit B and incorporated
herein by reference, shall be deemed effective.
4. Assignment. This Option may be assigned by Buyer.
5. Application of Option Money. If this option is exercised the consideration paid
for this option, above set forth, shall be applied on the purchase price at closing. If this
option is not exercised the option money will be retained by the Seller.
6. Other Conditions:
A. Buyer has had the opportunity to inspect the Property prior to executing this
Option to Purchase. Buyer shall have the option of further inspecting or
obtaining, at Buyer's expense, inspections to determine whether utilities,
environmental matters, zoning approvals and title matters are suitable for Buyer's
intended use. Inspections and zoning approvals must be completed on or before
5:00 p.m. on Sunday, February 2, 2014. If the results of these inspections and
zoning approvals are not acceptable to Buyer, in Buyer's sole discretion, Buyer
may terminate this Option Agreement provided that written notice of termination
is delivered by Buyer to Seller by the stated end of the inspection period. In the
event of termination by Buyer, this Option Agreement shall become null and void.
If this Option Agreement is not terminated by Buyer as set out herein, the
$45,000.00 option payment shall be paid to Seller as set forth below ("option
payments") and the remaining terms of this Option Agreement and all
attachments thereto, shall remain in full force and effect. In the event of
termination by Buyer, Buyer shall take all steps necessary to return the property to
its original condition (except for the re -zoning of the property).
Option Payments:
$35,000.00 on February 2, 2014
$10,000.00 on February 2, 2016
B. Buyer's obligations hereunder are conditioned upon Seller's successful final
and non -appealable approval of the rezoning of the Property by Catawba County

to an industrial use, acceptable to Buyer in its sole discretion, on or before
February 2, 2014.
C. Upon the exercise of an, existing option on any of the properties listed below
("other option property,") this option shall be deemed "exercised" and all terms
and conditions of the Offer to Purchase and Contract attached hereto as Exhibit B
shall be deemed effective and binding upon the parties and closing shall occur on
or before the "closing date" set forth therein.
OTHER OPTION PROPERTY:
CATAWBA COUNTY TAX PARCEL ID NUMBERS:
372117220111—
Owned by Brenda Lutz
372118301185 —
Owned by Margaret Lutz
372117105489 —
Owned by Carol Y. Lutz
372118302926 — Owned by Carol Y. Lutz
372117119870 — Owned by Kevin Eric Lutz
372118324209 — Owned by Brenda Lutz
D. During the term of this Option Agreement, Buyer shall have the right to market the
property and to construct entrance and other amenities on the property, at Buyer's
expense. If the Option is not exercised during the Option Period, Buyer, at its expense,
shall remove any construction or amenities and return the property to its original
condition, if so requested by the Seller.
E. Seller agrees to extend the due diligence date set out herein in the event additional
time is needed to complete the conditions set forth in paragraphs 6(a) and 6(b) or to
execute options on the "other option property" referenced in paragraph 6(c) herein until
these conditions have been met or until it is apparent that these conditions cannot be met
by no fault of the Buyer.
F, In the event this Option is exercised and/or becomes a binding contract as set forth in
paragraphs 3 or 6(C) herein, at any time prior to closing (as defined in the attached Offer
to Purchase Contract) Seller shall allow Buyer reasonable access to the property
referenced herein and reasonable ingress and egress across Seller's property to allow
Buyer to have access to any of the "other option property" set forth in paragraph 6(C)
above.
IN WITNESS WHEREOF, the Seller and Buyer have hereunto set their hands and
seals, or if limited liability companies have caused this instrument to be signed in their
corporate name by their duly authorized officers and their seals to be hereunto affixed,
the day and year first above written.

Seller:
Ruth A. Hollar, Trustee of the Ruth B. Lutz Irrevocable Trust, dated July 19, 2012
a, 494P i 4M4(SEAL)
Ruth A. Hollar, Trustee
Buyer:
Catawba County Economic Development Corporation
By: (�-�V24(SEAL)
Name:[
Title: -Sl rr
State of North Carolina
County of Catawba
1, ���.I�R1��,�F�', a Notary Public of the County and State aforesaid,
certify that Ruth A. Hollar, Trustee of the Ruth B. Lutz Irrevocable Trust, dated July 19,
2012, personally appeared before me this day and acknowledged the execution of the
foregoing instrument. Witness my hand and official stamp or seal, this'5+'n Anu ok v
2a►z
YAJAIRA TISCARENO VELASCO
Notary Public
Catawba Co., North Carolina
My Commission Expires July to, 2oi8
State of North Carolina
County of Catawba
� e of Notary Public
Y,Rlf3 p,
Printed Name of Notary Public
My Commission Expires: At tW 10 - �."Al_
I, 1A n!!„krMO*r1wA , a Notary Public for the State of North
Carolina, do hereby certify than the following person personally appeared before me this
day, and I have personal knowledge of the identity of the principal or I have seen
satisfactory evidence of the principal's identity, by a current state or federal identification
with the principal's photograph in the form of a or a credible
witness has sworn to the identity of the principal; principal acknowledged to me that he
voluntarily signed the foregoing document for the purpose stated therein and in the capacity
indicated:

WITNESS my hand and notarial seal this the 44- day of
201J.
(SEAL)
fY Mrfiri' hW6*d Notary Public
(Print Name)
My commission expires:,

Exhibit "A' Description
PIN: 372118311271
BEGINNING at an iron stake, an old peach tree corner adjoining the J. 0. Lutz property,
said BEGINNING POINT being South 70 degrees 30 minutes West 29 feet from the
center of the Hickory-Startown Highway; and running thence from said BEGINNING
POINT with the J. 0. Lutz property, South 78 degrees 24 minutes West 758 feet to an
oak tree, corner of the J. 0. Lutz line; and running thence South 80 degrees Nest 800
feet to a stake at a branch; thence running along J. 0. Lutz's line, South 80 degrees
West, crossing a branch, 1920 feet to an iron lain at another branch, James Lutz's
corner in the J. 0. Lutz line; thence running South 3 degrees West 251.4 feet; thence
with the W. R. Lutz, Jr.'s line, crossing two branches, North 82 degrees 27 minutes East
2015.3 feet to a point; thence running North 75 degrees 30 minutes East 795 feet to a
stake or iron, J. Philip Lutz's corner; thence running North 78 degrees East 877.5 feet
to a corner in the center of the Hickory-Startown Highway; thence with the center of
said Highway and in a northwesterly direction, 270 feet to a corner in the old line of J.
0. Lutz in the center of said Highway; thence with said old line, South 70 degrees 30
minutes West 29 feet to the point and place of BEGINNING, containing 24.07 acres,
more or less, as shown on a plat prepared by G. Sam Rowe, Civil Engineer, dated April
24, 1947.
For partial chain of title, see Book 1831 at Page 189; Book 1047 at Page 144 and Book
656 at Page 317 in the Office of the Catawba County Registry.
NOTE: Excluded from this description is an approximate 2.1 acre tract containing the
residence of the Seller as shown in yellow highlight, on the tax map attached hereto as
Exhibit "Bl". This 2.1 acre tract will be surveyed and shall remain the sole and
exclusive property of the Seller.

Exhibit B
OFFER TO PURCHASE AND CONTRACT
Catawba County Economic Development Corporation, a non-profit corporation operating under the laws of North Carolina, as Buyer,
hereby offers to purchase, and Ruth A. Hollar, Trustee of the Ruth B. Lutz Irrevocable Trust, dated July 19, 2012, as Seller, upon
acceptance of said offer, agrees to sell and convey, all of that plot, piece or parcel of land described below, together with all buildings
and improvements located thereon and (referred to as the "Property"), upon the terms and conditions set forth herein.
1. REAL PROPERTY: Located in Catawba County, State of North Carolina, being known as and more particularly described as:
Address: Street 2405 Startown Road _
City: Ne on Zip: 28658
Legal Description: Parcel ID numbers 372118311271 • see Exhibit "A" attached hereto
Deed Reference: Book at Page , Catawba County Registry,
2, PURCHASE PRICE: The purchase price is $510,000.00 and shall be paid in U.S. Dollars. The purchase price shall be paid as
follows:
(a) $45,000.00 , OPTION FEE in accordance with the Option Agreement effective October 1, 2013.
(b) $465,000.00 BALANCE of the purchase price in cash at Closing.
(c) Note: If the Buyer exercises the option prior to payment of all "Option Payments" set forth in Paragraph 6(a) of the Option to
Purchase between the parties of even date, the Option fee and balance referenced above shall be adjusted to reflect Option
payments made toward total purchase price.
3. OTHER CONDITIONS:
(a) The Property must be in substantially the same or better condition at Closing as on the date of this offer, reasonable wear and tear
excepted.
(b) All deeds of trust, liens and other charges against the Property, not assumed by Buyer, must be paid and satisfied by Seller prior to
or at Closing such that cancellation may be promptly obtained following Closing. Seller shall remain obligated to obtain any such
cancellations following Closing.
(c) Title must be delivered at Closing by GENERAL WARRANTY DEED unless otherwise stated herein, and must be fee simple
marketable and insurable title, free of all encumbrances except: ad valorem taxes for the current year (prorated through the date of
Closing); utility easements and unviolated restrictive covenants that do not materially affect the value of the Property; and such
other encumbrances as may be assumed or specifically approved by Buyer. The Property must have legal access to a public right
of way.
(d) Notwithstanding anything to the contrary set out herein, should any of the Option Property be subject to the Agricultural Present
Use Value Program and any property taxes or "back taxes" be due and owing at the time of or after closing, said taxes or "back
taxes" shall be computed prior to closing and deducted from the Purchase Price.
(e) The property must be zoned by Catawba County with usage acceptable by Buyer and must be approved for annexation by the City
of Hickory, prior to the end of the inspection period set out in paragraph 6(A) of the Option to Purchase Agreement previously
executed by the parties.
4. PRORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated and either adjusted
between the parties or paid at Closing: (a) Ad valorem taxes on real property shall be prorated on a calendar year basis through the
date of Closing;
5, EXPENSES: 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 Closing. Seller shall pay for preparation of a deed and all other documents necessary to perform Seller's obligations under
this agreement, and for excise tax (revenue stamps) required by law.
6. EVIDENCE OF TITLE: Seller agrees to use his best efforts to deliver to Buyer as soon as reasonably possible after the
Effective Date of this contract, copies of all title information in possession of or available to Seller, including but not limited to: title
insurance policies, httorney's opinions on title, surveys, covenants, deeds, notes and deeds of trust and easements relating to the
Property. 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; and (2) the Property's title insurer
Page 1 of 3

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.
7. LABOR AND MATERIAL: Seller shall furnish at Closing an affidavit and indemnification agreement in form satisfactory to
Buyer showing that all labor and materials, if any, furnished to the Property within 120 days prior to the date of Closing have been paid
for and agreeing to indemnify Buyer against all loss from any cause or claim arising therefrom.
8. CLOSING: Closing shall occur on or before ninety (90) days after written notice of closing date is delivered by Buyer to Seller and
is defined as the date and time of recording of the deed and shall, in any event, occur on or before October 1, 2020. (the "Closing
Date"). All parties agree to execute any and all documents and papers necessary in connection with Closing and transfer of title on or
before the Closing Date at a place and time designated by Buyer. The deed is to be made to Buyer, or its assignee.
9. POSSESSION: Possession shall be delivered at Closing.
10, ASSIGNMENTS: This contract may be assigned by Buyer.
11. 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 be required to give effect to this provision.
12. PARTIES: This contract shall be binding upon and shall inure to the benefit of the parties, i.e., Buyer and Seller and their 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.
13. 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.
14. 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.
15. NOTICE AND EXECUTION: Any notice or communication to be given to a party herein may be given to the party or to such
party's agent. This contract may be signed in multiple originals, all of which together constitute one and the same instrument, and the
parties adopt the word "SEAL" beside their signatures below.
16. COMPUTATION OF DAYS: 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.
Date: 12 lt6-O Is Date:
Buyer (SEAL) Seller p i (SEAL)
c6uwka County Economic Development Corporation Ruth A. kollar, Trustee of the Ruth B. Lutz Irrevocable
Name: se-4-1 ' c.. M "-"P. Trust, dated July 19, 2012
Title: D"T
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:
Mailing Address: Cggwba County Economic Development
Buyer Fax#: (<�Zg � %7 -- 199 r{
Buyer E-mail Address: 5M 119tre C2,12k"4W011.'h4V1C
SELLER NOTICE ADDRESS:
Mailing Address: Ruth Bowman Lutz
2405 Startown Road
Newton, NC 28658-8354
Seller Fax#:
Seller E-mail Address: 1 oxMr i- n

Drawn by & Return to: John W. Crone, III, GoRmm & CRONE, LLP
Post Office Box 2507, Hickory, NC 28603-2507
State of North Carolina OPTION TO PURCHASE
County of Catawba
This Option to Purchase is effective the llth day of April, 2014, between Kevin
Eric Lutz, hereinafter referred to as "Seller" and the Catawba County Economic
Development Corporation, a non-profit corporation under the laws of North Carolina,
hereinafter referred to as "Buyer",
WITNESSETH:
That the Seller, for and in consideration of the sum of Seventy-one Thousand Five
Hundred Seventy Dollars ($71,500.00) to be paid by the Buyer, as set out in Paragraph
6(a) hereinafter, does hereby give and grant unto the Buyer, its heirs, assigns, or
representatives, the exclusive right and option to purchase all of that certain plot, piece or
parcel of land together with all improvements located thereon in the City of Newton,
County of Catawba, State of North Carolina, being known as and more particularly
described as follows:
See Exhibit A attached hereto and incorporated herein.
The terms and conditions of this option are as follows:
1. Option Period, This option shall be for a period of seven (7) years which shall
begin on April 11, 2014 and shall exist and continue until 12:01 o'clock a.m, on April 11,
2021. A notice hereof may be recorded by either party; and this Option (excluding
Exhibit B) may be recorded as a legally binding Notice of the Option. TIME IS OF
THE ESSENCE WITH RESPECT TO THE OPTION PERIOD AND EXERCISE.

2. Exercise. At any time during the option period Buyer may exercise this option by
hand delivery or deposit of written notice by certified or registered mail, return receipt
requested, to Seller at the following address that (i) this option is being exercised or (ii)
an option has been exercised on the "other option property" defined in paragraph 6(B)
below which deems this option to be exercised:
Kevin Eric Lutz
3514 Highway 182
Lincolnton, NC 28092-1751
3. Contract upon Exercise. Upon exercise of this Option, the terms of the purchase
and sale agreement, a copy of which is attached hereto as Exhibit B and incorporated
herein by reference, shall be deemed effective.
4. Assignment. This Option may be assigned by Buyer.
5. Application of Option Money, If this option is exercised the consideration paid
for this option, above set forth, shall be applied on the purchase price at closing. If this
option is not exercised the option money will be retained by the Seller.
6. Other Conditions:
A. Buyer has had the opportunity to inspect the Property prior to executing this
Option to Purchase. Buyer shall have the option of further inspecting or
obtaining, at Buyer's expense, , inspections to determine whether utilities,
environmental matters, zoning approvals and title matters are suitable for Buyer's
intended use. Inspections and zoning approvals must be completed on or before
5:00 p.m. on Friday, July 11, 2014, If the results of these inspections and zoning
approvals are not acceptable to Buyer, in Buyer's sole discretion, Buyer may
terminate this Option Agreement provided that written notice of termination is
delivered by Buyer to Seller by the stated end of the inspection period. In the
event of termination by Buyer, this Option Agreement shall become null and void.
If this Option Agreement is not terminated by Buyer as set out herein, the
$71,500.00 option payment shall be paid to Seller as set forth below ("option
payments") and the remaining teens of this Option Agreement and all
attachments thereto, shall remain in full force and effect. In the event of
termination by Buyer, Buyer shall take all steps necessary to return the property to
its original condition (except for the re -zoning of the property).
Option Payments:
$50,000,00 on July 11, 2014
$21,500.00 on July 11, 2016
B. Buyer's obligations hereunder are conditioned upon Seller's successful final
and non -appealable approval of the rezoning of the Property by Catawba County
to an industrial use, acceptable to Buyer in its sole discretion, on or before July
11, 2014.

C. Upon the exercise of an existing option on any of the properties listed below
("other option property,") this option shall be deemed "exercised" and all terms
and conditions of the Offer to Purchase and Contract attached hereto as Exhibit B
shall be deemed effective and binding upon the parties and closing shall occur on
or before the "closing date" set forth therein.
OTHER OPTION PROPERTY:
CATAWBA COUNTY TAX PARCEL ID NUMBERS:
372117220111—
Owned by Brenda Lutz
372117105489
— Owned by Carol Y. Lutz
372118302926
— Owned by Brenda Lutz
372118302926 — Owned by Carol Y. Lutz
372118311271 — Owned by Ruth A. Hollar, Trustee of the Ruth B. Lutz
Irrevocable Trust dated July 19, 2012
372118324209 — Owned by Brenda Lutz
D, During the term of this Option Agreement, Buyer shall have the right to market the
property and to construct entrance and other amenities on the property, at Buyer's
expense. If the Option is not exercised during the Option Period, Buyer, at its expense,
shall remove any construction or amenities and return the property to its original
condition, if so requested by the Seller.
E. Seller agrees to extend the due diligence date set out herein in the event additional
time is needed to complete the conditions set forth in paragraphs 6(a) and 6(b) or to
execute options on the "other option property" referenced in paragraph 6(c) herein until
these conditions have been met or until it is apparent that these conditions cannot be met
by no fault of the Buyer.
F. In the event this Option is exercised and/or becomes a binding contract as set forth in
paragraphs 3 or 6(C) herein, at any time prior to closing (as defined in the attached Offer
to Purchase Contract) Seller shall allow Buyer reasonable access to the property
referenced herein and reasonable ingress and egress across Seller's property to allow
Buyer to have access to any of the "other option property" set forth in paragraph 6(C)
above.
IN WITNESS WHEREOF, the Seller and Buyer have hereunto set their hands and
seals, or if limited liability companies have caused this instrument to be signed in their
corporate name by their duly authorized officers and their seals to be hereunto affixed,
the day and year first above written.
Seller:
Kevin Eric Lutz
{
Ile r &(Z, (SEAL)
Kevin Eric Lutz

Buyer:
Catawba County Economic Development Corporation
By: XGI�
(SEAL)
Name: Sw •-,r1
Title:�►--
State of North Carolina
County of Catawba
I, "MI M( tt V) &NOAJ, a Notary Public of the County and State aforesaid,
certify that Kevin Eric Lutz personally appeared before me this day and acknowledged
the execution of the foregoing instrument. Witness my hand and official stamp or seal,
Signature of Notary ublic
kmbc� wolb
Printed Name of Notary Public
My Commission Expires: kw
State of North Carolina
County of Catawba
T. h*0 M AA� it A�,���c�, . a Notary Public for the State of North
Carolina, do hereby certify that the following person personally appeared before me this
day, and I have personal knowledge of the identity of the principal or I have seen
satisfactory evidence of the principal's identity, by a current state or federal identification
with the principal's photograph in the form of a or a credible
witness has sworn to the identity of the principal; principal acknowledged to me that lie
voluntarily'�' ed the forrZe-(AaJA
document for the purpose stated therein and in the capacity
indicated: 'I l t� 5� AV 1.0 .0C,
201+
WITNESS my hand and notarial seal this the r X,6- day of
cczo,�pRY U v
se O`w°�1
ON90orm-)4JAM -44U&-Vd
Y , Notary Public
(Print Name)
My commission expires: OU- m- , ;)-06

Exhibit "A" Description
PIN. 372117119870
BEGINNING at a concrete monument located at the western edge of the right of way of
State Road No. 1005, said beginning point being located South 25 degrees 24 minutes
29 seconds East 412.50 feet from a concrete monument located at the southeast
corner of Ethel C. Lutz property (Book 1605 at Page 284, Catawba County Registry),
and running thence from said beginning point with the western edge of the right of
way of State Road No, 1005, South 25 degrees 24 minutes 29 seconds East 155.89 feet
to an iron pin; thence continuing with the right of way, South 27 degrees 17 minutes
06 seconds East 256.68 feet to a concrete monument; thence South 78 degrees 36
minutes 00 seconds West 831.16 feet to a concrete monument; thence South 80
degrees 00 minutes 00 seconds West 2,663.76 feet to a concrete monument set at the
eastern edge of the right of way of State Road 1148; thence with the eastern edge of
the right of way of State Road No. 1148, North 05 degrees 40 minutes East 355.77 feet
to an iron pin; thence continuing with said right of way, a curve having a radius of
2699.41 feet, a chord bearing of North 03 degrees 10 minutes 48 seconds East, a chord
distance of 218.10 feet, and an are length of 218.15 feet to an iron pin; thence
continuing with said right of way, North 00 degrees 51 minutes 53 seconds East 484.63
feet to a concrete monument; thence a new line, South 88 degrees 54 minutes 48
seconds East 3200.6 feet to the point of BEGINNING, containing S5.0838 acres, more
or less, and being designated as Tract 2 on a plat entitled "Boundary Survey and
division of Charles L. Lutz property", prepared by Bishop Land Surveying, Huntersville,
NC28078, and bearing the date of September 20, 2001.
For partial reference to chain of title, see deeds recorded in Book 599a t Page 228 and
Book 926 at Page 266 in the Catawba County Registry.

Drawn by & Return to: John W. Crone, III, GORHAM & CRONE, LLP
Post Office Box 2507, Hickory, NC 28603-2507
State of North Carolina OPTION To PURCHASE
County of Catawba
This Option to Purchase is effective the 15th day of November, 2013, between
Carol Y. Lutz, hereinafter referred to as "Seller" and the Catawba County Economic
Development Corporation, a non-profit corporation under the laws of North Carolina,
hereinafter referred to as `Buyer".
WITNESSETH:
That the Seller, for and in consideration of the sum of Forty Thousand Dollars
($40,000.00) per parcel as set forth herein, to be paid by the Buyer, as set out in
Paragraph 6(a) hereinafter, does hereby give and grant unto the Buyer, its heirs, assigns,
or representatives, the exclusive right and option to purchase all of that certain plot, piece
or parcel of land together with all improvements located thereon in the County of
Catawba, State of North Carolina, being known as and more particularly described as
follows:
See Exhibit A attached hereto and incorporated herein.
The terms and conditions of this option are as follows:
1. Options Period. This option shall be for a period of seven (7) years which shall
begin on November 15, 2013 and shall exist and continue until 12:01 o'clock a,m. on
November 15, 2020. A notice hereof may be recorded by either party; and this Option
(excluding Exhibit B) may be recorded as a legally binding Notice of the Option, TIME
IS OF THE ESSENCE WITH RESPECT TO THE OPTION PERIOD .AND
EXERCISE.
195615-3

2. Exercise. At any time during the option period Buyer may exercise this option by
hand delivery or deposit of written notice by certified or registered mail, return receipt
requested, to Seller at the following address that (i) this option is being exercised or (ii)
an option has been exercised on the "other option property" defined in paragraph 6(B)
below which deems this option to be exercised:
Carol Y. Lutz
2437 Settlemyre Bridge Road
Newton, NC 28658-8569
cc: Terry M. Taylor, Attorney
P.O. Drawer 2428
Hickory, NC 28603
3. Contract upon Exercise. Upon exercise of this Option, the terms of the purchase
and sale agreement, a copy of which is attached hereto as Exhibit B and incorporated
herein by reference, shall be deemed effective.
4. Assignment. This Option may be assigned by Buyer.
5. Application of Option Money. If this option is exercised the consideration paid
for this option, above set forth, shall be applied on the purchase price at closing. If this
option is not exercised 1lie option money will be retained by the Seller.
6. Other Conditions:
A. Buyer has had the opportunity to inspect the Property prior to executing this
Option to Purchase. Buyer shall have the option of further inspecting or
obtaining, at Buyer's expense, inspections to determine whether utilities,
environmental matters, zoning approvals and title matters are suitable for Buyer's
intended use. inspections and zoning approvals must be completed on or before
5:00 p.m. on April 2, 2014 the ("Due Diligence Period"). The parties must
mutually agree to any extension of the Due Diligence Period in writing. In the
event the Buyer desires such an extension, then in such written request, Buyer
shall state why the request is necessary, how long the request is for and such
request must be submitted no less than five (5) days before the expiration of said
Due Diligence Period. Buyer agrees to indemnify and hold harmless Seller from
all loss, costs or expense whatsoever from 'injuries or damages occurring on the
Property during inspections. Buyer must provide a copy to Seiler of all reports or
inspection results within ten (10) days of receiving the same. If the results of
these inspections and/or zoning approvals are not acceptable to Buyer, in Buyer's
sole discretion, Buyer may terminate this Option Agreement provided that written
notice of termination is delivered by Buyer to Seller by the end of the Due
Diligence Period. In the event of termination by Buyer, this Option Agreement
shall become null and void. If this Option Agreement is not terminated by Buyer
as set out herein, the $40,000.00 option,payment shall be paid to Seller as set forth
below ("option payments") and the remaining terms of this Option Agreement
and all attachments thereto, shall remain in full force and effect. In the event of
termination by Buyer, Buyer shall take all steps necessary to return the property to
its original condition (except for the re -zoning of the property) and promptly
195615-3

provide Seller with a copy of all tests/reports, surveys, inspections and/or permits
regarding the Property not already provided.
Option Payments:
TRACT ONE (PIN: 372117105489)
$25,000.00 on April 2, 2014
$5,000.00 on April 2, 2015
$5,000.00 on April 2, 2016
$5,000.00 on April 2, 2017
B. Buyer's obligations hereunder are conditioned upon Seller's successful final
and non -appealable approval of the rezoning of the Property by Catawba County
to an industrial use, acceptable to Buyer in its sole discretion, on or before April
2, 2014.
C. Upon the exercise of an existing option on any of the properties listed below
("other option property,") this option shall be deemed automatically "exercised"
and all terms and conditions of the Offer to Purchase and Contract attached hereto
as Exhibit B shall be deemed effective and binding upon the parties and closing
shall occur on or before the "closing date" set forth therein.
OTHER OPTION PROPERTY:
CATAWBA. COUNTY TAX PARCEL ID NUMBERS:
372117220111 —Owned by Brenda Lutz
372118301185 — Owned by Margaret Lutz
372118311271— Owned by Ruth A. Hollar, Trustee of the Ruth B.
Lutz Irrevocable Trust Dated July 1 % 2012
372117119870 Owned by Kevin Eric Lutz
372118324209 — Owned by Brenda Lutz
372118302926 — Owned by Carol Lutz
D. During the term of this Option Agreement, Buyer shall have the right to
market the property and to construct entrance and other amenities on the property
(in accordance with paragraph 1.1), at Buyer's expense. If the Option is not
exercised during the Option Period, Buyer, at its expense, shall - remove any
construction or amenities and return the property to its original condition, if so
requested by the Seller. Buyer to notify Seller at least twenty-four (24) hours in
advance of person's entering the Property. Buyer must provide Seller with a copy
of all Construction Plans and Permits no less than five (5) days before
construction begins.
E. This Option and its exercise is conditioned upon the Buyer simultaneously
exercising the Option on the other parcel owned by Seller (Tax Parcel
195615-3

M 1183 02926) and such additional Option Extensions also being exercised on
the other parcel owned by Seller which Option Agreement and Offer to Purchase
are dated the same date as this Agreement and entered into with the Buyer
simultaneously with this Agreement.
F. In the event this Option is exercised and/or becomes a binding contract as set
forth in paragraphs 3 or 6(C) herein, at any time prior to closing (as defined in the
attached Offer to Purchase Contract) Seller shall allow Buyer reasonable access to
the property referenced herein and reasonable ingress and egress across Seller's
property to allow Buyer to have access to any of the "other option property" set
forth in paragraph 6(C) above.
G. Notice to Come on Property. In any event, the Buyer shall provide the Seller
at least twenty-four (24) hours' notice of who will be accessing the Property.
7. Additional Option Extension Period. Buyer shall have two additional sixty (60)
days extensions of the Option Period at Buyer's discretion so long as a Buyer is diligently
seeking to obtain all governmental approvals and permits at the time of the exercise of
each Extension and provided that Buyer notifies Seller in advance at least five (5) days
prior to the Option Expiration.
8. Buyer shall indemnify and hold Seller harmless from any and all losses including
any loss, cost or expenses whatsoever, including reasonable attorney's fees that Seller
may suffer in connection -with Buyer and/or its Agents or Invitees accessing the Property
for investigations or preparation of reports. Upon the completion of any investigation or
a due diligence, the Buyer shall repair all damage to the Property caused by such entry.
9. Assignment. Buyer must give the Seller ten (10) days written notice of any
proposed Assignment of any rights and obligations under this Agreement.
10. Mechanic's Lien. Buyer agrees to indemnify and hold harmless Seller from any
and all liens placed on the Property as a result of any investigations, reports,
improvements or construction activity and in the event any mechanic's lien is filed
concerning the Property, agrees to within thirty (30) days, post a cash bond to remove
any lien from the Property.
11. Construction Guidelines. In the event the Buyer desires to construct any
improvements on the Property prior to Closing, Buyer agrees to comply with the Buyer
Construction Guidelines as are set forth below:
A. Buyer shall be responsible for insuring all parties before doing any work
on the Property have the proper license to do so and that all permits, inspections, etc.
required by any various governmental agencies have been complied with. Buyer shall
provide a copy of all such plans, licenses and permits to the Seller prior to beginning any
work on the Property. Once construction has begun, the Buyer shall insure that the job
site is kept clean and any debris is removed.
195615-3

B. Buyer shall be responsible for providing to Seller a final "As Built" 'set of
all drawings for any construction and/or modifications that are done on the Property
during the time of the Option Term. Buyer and its Contractors and Subcontractors and
any other person performing work or entering the Property for the purpose of site
improvement or inspection shall comply with the insurance requirement set forth
hereinbelow.
T
C. Buyer agrees to maintain liability insurance in the amount of One Million
Dollars per occurrence covering its activities on the Property and agrees to name the
Seller as an Additional Insured. Buyer agrees to provide Seller with proof of liability
insurance prior to anyone accessing the Property. Further, prior to entering the Property
to conduct any work on the Property, Buyer agrees to provide proof of Workmen's
Compensation Insurance and Builder's Risk Insurance in amounts as are suitable for .the
work being undertaken as which Buyer and Seller agree is sufficient.
12. Tax Impact. Buyer will hold harmless Seller for any resulting Tax increase due
to re -zoning, annexation, construction or other properties being sold or developed for the
term of this Agreement. Seller agrees to forward to Buyer upon receipt of any tax bill a
copy of the same with an itemization of request for the applicable portion requesting to
be paid by Buyer resulting from the rezoning, annexation, construction or other Option
Property being sold and the Buyer agrees to pay the same directly to the Tax Office so
long as the increase is directly attributable to these reasons.
13. Agricultural Leases. Portions of the Property are leased for Agricultural use to
different Tenants on an annual basis and therefore if the Tenants' crops are damaged as a
result of inspections or testing, the Tenants will be compensated by the Buyer for loss
suffered. Attached as Exhibit C is a list of the current list of Tenants with a summary of
the Lease Terms. Seller agrees to notify Buyer of any Lease Renewals at least thirty (34)
days prior to a renewal and/or new Lease and agrees not to enter into any Lease for
longer than a one (1) year term. Further, if the Buyer exercises this Option and as a result
the Tenants' use must be terminated early, the Buyer will compensate the Tenant for loss
of crops and pay any Lease Termination Fee.
14. Memorandum. Seller agrees to sign a Memorandum of Option if requested by
Buyer to sign a recorded Memorandum of this Option Agreement.
[Signatures Appear on Following Page]
195615-3

TN WITNESS WHEREOF, the Seller and Buyer have hereunto set their hands and
seals, or if limited liability companies have caused this instrument to be signed in their
corporate name by their duly authorized officers and their seals to be hereunto affixed,
the day and year first above written.
Seiler:
Carol Y. Lutz
1G�92 (SEAL)
Carol Y. Lutz
Buyer:
Catawba County Economic Development Corporation
By: 9;� � a
Name: -5��e-y L . (At c,c -
Title: _ f P-1-0 S (iD %4 i
State of North Carolina
County of Catawba 1
1, S)V—rr''\ *�f L� , a Notary Public of the County and State aforesaid,
certify that Carol Y. Lutz personally appeared before me this day and acknowledged the
execution of the foregoing instrument.
Witness my hand and official stamp or seal, this W day of N"4v�6
2013.
A Oev
i
Notary pubfla
Gatcxwb(I County _
Signature of No y Public My Commissio Expires: � t 1
M "1'�
195615-3

State of North Carolina
County of Catawba
I, �i'� / `'[ , a Notary Public for the State of North
Carolina, do hereby certify that the following person personally appeared before me this
day, and I have personal knowledge of the identity of the principal or I have seen
satisfactory evidence of the principal's identity, by a current state or federal identification
with the principal's photograph in the form of a or a credible
witness has sworn to the identity of the principal; principal acknowledged to me that he
voluntarily signed the foregoing document for the purpose stated therein and in the capacity
indicated:
WITNESS my hand and notarial seal this the * day ofVJ-4v�k*- ,
2013.
dwF QNic o
eo OUN"f't,�:�•
C6
my •4�tsi•
195615-3

EXHIBIT "A>'
(PIN: 372117105489):
Adjoining the "First Tract" and described in Deed of even date to James J. Lutz and
BEGINNING at an iron stake, common corner of Philip Lutz, Frank Lutz and Jaynes
Lutz and running thence along Jaynes Lutz line crossing 2 branches North 82 degrees 27
minutes East 2015.3 feet to an iron, corner of W. R. Lutz, Jr. and James Lutz; thence
South 16 degrees 10 minutes East 500 feet to an iron corner of Philip Lutz; thence with
his line South 72 degrees 02 minutes West, crossing a branch, 1858 feet to an iron pin in
the line of Philip Lutz; thence with another of his lines, North 69 degrees 30 minutes
West 425 feet to an iron stake, corner of Philip Lutz in Charles Lutz line; thence with
Charles Lutz and then Philip Lutz, North 4 degrees East 478.2 feet to a stone corner of
Philip Lutz; thence with his line North 3 degrees East 164.4 feet to the BEGINNING,
containing 32.99 acres, more or less.
For partial chain of title, see that deed recorded in Book 656 at Page 297 in the Office of
the Catawba County Registry.
195615-3

Exhibit B
OFFER TO PURCHASE AND CONTRACT
Catawba County Economic Development Corporation, a non-profit corporation operating under the laws of
North Carolina, as Buyer, hereby offers to purchase, and Carol Y. Lutz, collectively as Seller, upon
acceptance of said offer, agrees to sell and convey, all of that plot, piece or parcel of land described below,
together with all buildings and improvements located thereon and (referred to as the "Property"), upon the
terms and conditions set forth herein.
1. REAL PROPERTY: Located in Catawba County, State of North Carolina, being known as and more
particularly described as:
Address; Street 2415 Startown Road
City, Newton Zip: 28658
Legal Description: Parcel ID number 372117105489; see Exhibit "A" attached hereto_
Deed Reference: Book at Page , Catawba County Registry.
2. PURCHASE PRICE: The purchase price is $370,701.00 and shall be paid in U.S. Dollars. The
purchase price shall be paid as follows:
(a) $40,000,00 , OPTION FEE in accordance with the Option Agreement effective November 15,
2013.01
(b) $330,701.00 _, BALANCE of the purchase price in cash at Closing.
(c) Note: If the Buyer exercises the option prior to payment of all "Option Payments" set forth in
Paragraph 6(a) of the Option to Purchase between the parties of even date, the Option fee and balance
referenced above shall be adjusted to reflect Option payments made toward total purchase price.
3. OTHER CONDITIONS:
(a) The Property must be in substantially the same or better condition at Closing as on the date of this
offer, reasonable wear and tear excepted.
(b) All deeds of trust, liens and other charges against the Property, not assumed by Buyer, must be paid
and satisfied by Seller prior to or at Closing such that cancellation may be promptly obtained following
Closing. Seller shall remain obligated to obtain any such cancellations following Closing.
(c) Title must be delivered at Closing by SPECIAL WARRANTY DEED unless otherwise stated herein,
and must be fee simple marketable and insurable title, free of all encumbrances except: ad valorem
taxes for the current year (prorated through the date of Closing); utility easements and unviolated
restrictive covenants that do not materially affect the value of the Property; and such other
encumbrances of record.
(d) Buyer and Seller understand and agree no less than ninety (90) days prior to a Closing an Annexation
Petition will be submitted to the City of Hickory.
4, PRORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be
prorated and either adjusted between the parties or paid at Closing: (a) Ad valorem taxes on real property
shall be prorated on a calendar year basis through the date of Closing;
5. EXPENSES: 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 Closing. Seller shall pay for
preparation of a deed and all other documents necessary to perform Seller's obligations under this
agreement, and for excise tax (revenue stamps) required by law.
6. EVIDENCE OF TITLE: Seller agrees to use his best efforts to deliver to Buyer as soon as
reasonably possible after the Effective Date of this contract, 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 and easements relating to the Property. Seller authorizes
(1) any attorney presently or previously representing Seller to release and disclose any title
195615-3

insurance policy in such attorney'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.
7. LABOR AND MATERIAL: Seller shall furnish at Closing an affidavit and indemnification
agreement in form satisfactory to Buyer showing that all labor and materials, if any, furnished to the
Property by Seller within 120 days prior to the date of Closing have been paid for and agreeing to
indemnify Buyer against all loss from any cause or claim arising therefrom.
8. CLOSING: Closing shall occur on or before ninety (90) days after written notice of closing date is
delivered by Buyer to Seller and is defined as the date and time of recording of the deed and shall, in any
event, occur on or before November 15, 2020. (the "Closing Date"). All parties agree to execute any and
all documents and papers necessary in connection with Closing and transfer of title on or before the Closing
Date at a place and time designated by Buyer. The deed is to be made to Buyer, or its assignee.
9. POSSESSION: Possession shall be delivered at Closing.
10, ASSIGNMENTS: This contract may be assigned by Buyer. (No Partial Assignment - must be
simultaneous Assignment of both Contracts).
11. 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 be required to give effect to this
provision.
12. PARTIES: This contract shall be binding upon and shall inure to the benefit of the parties, i.e., Buyer
and Seller and their 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.
13. 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.
14. 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.
15. NOTICE AND EXECUTION: Any notice or communication to be given to a party herein may be
given to the party or to such parry's agent. This contract may be signed in multiple originals, all of which
together constitute one and the same instrument, and the parties adopt the word "SEAL" beside their
signatures below.
16. COMPUTATION OF DAYS: 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.
195615-3

Date:
Date;
CATAWBA COUNTY ECONOMIC
DEVELOPMENT CORPORAVO
Buyer: By Seller: 90-lWf) (SEAL)
Name: �
Gm—rr . M►ct .4(� Car 1 Y. Luiz
Title:
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 "NIA" FOR ANY WHICH ARE NOT APPROVED.
BUYER NOTICE ADDRESS: SELLER NOTICE ADDRESS:
Mailing Address: Mailing Address:
Catawba Couniv Economic Development
Carol Y. Lutz
,{ C/O Terry M. Taylor. Attorney at Law
or've,TSIE P.O. Drawer2428
I-1 l c.Kcr� = N C 2Sst� o� - Hickory, NC 28603
Buyer Fax#:_ rrd2S
Seller Fax#: N/A
Buyer E-mail: s>ti►�Ua,r� ca�aa Gm �-,G a�n�/ Seller E-mail: N/A