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HomeMy WebLinkAboutAgenda - 09-08-2011 - 5gORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: September 8, 2011 Action Agenda Item No. 5 -_C~ _ SUBJECT: Easements Pertaining to County Owned Real Property at 112 and 118 North Churton Street DEPARTMENT: Asset Management Services (AMS), Financial Services, County Attorney ATTACHMENT(S): A. SunTrust Easement Lease B. SunTrust Plat and Aerial Photo C. General Warranty Deed PUBLIC HEARING: (YIN) No INFORMATION CONTACT: Pam Jones, AMS, (919) 245-2652 David Cannell, Financial Services, (919) 245-2651 Sahana Ayer, Staff Attorney, (919) 245-2319 PURPOSE: To consider granting an easement between Orange County and SunTrust Bank as well as an easement pertaining to the properties at 112 and 118 N. Churton Street. BACKGROUND: SunTrust Bank currently has a lease (attachment A) that provides egress and ingress over County property to access some of its parking spaces. This lease is due to expire in 2012. SunTrust has approached the County about granting a permanent easement. In exchange for the easements, SunTrust would deed two parking spaces on the southernmost part of its property near Farm Credit. These two spaces would be associated with 118 North Churton Street. Below are the anticipated terms of the deed of easement. • Terminate the lease of right of way easement between Orange County and National Commerce Financial Corporation (formerly National Commerce Bancorporation, d/b/a National Bank of Commerce and Central Carolina Bank and Trust Company, Inc.) • Grant an easement to SunTrust Bank, Inc. • Grant a 20 foot non -exclusive right of way easement for ingress and egress from North Churton Street, Hillsborough, NC over, upon and through the property of Orange County • Reassign the parking easement across the two southern parking spaces currently owned by SunTrust to the Graham Building. (Pursuant to the general warranty deed from National Commerce Financial Corporation to the County, the easement across the parking spaces has been conveyed to the County for the use of County employees or patrons.) • Obtain easements for two additional parking spaces for the Graham building. • Obtain non -exclusive right of way easements for ingress and egress over, upon and through the SunTrust property to access the parking spaces currently owned by the County and conveyed to the County pursuant to the deed of easement to be executed by SunTrust. Currently the driveway(s) on either side of 118 North Churton Street are part of the property at 112 North Churton Street. An additional easement would be required between the properties to provide ingress and egress to 118 North Churton Street. FINANCIAL IMPACT: There is no financial impact associated with either of the easements. RECOMMENDATION(S): The Manager recommends the Board: 1. Approve granting the easements in principal; 2. Direct staff to work with SunTrust Bank to develop easement agreement language that protects the County's interests; and 3. Authorize the Chair to execute the easement documents addressing the County's interests. ~t ~ F=ILED 23 DEC 2002, at 11:35:09am Pvok. 2831, Page 318 - 324 Joyce H. Peareon Register of Deeds, i Orange County, N. C. PREPARED BY: Geoffrey E. Gledhill RETURN TO: Grantee -BOOK PAGE 2831 318 NORTH CAROLINA LEASE OF RIGHT OF WAY EASEMENT ORANGE COUNTY THIS LEASE OF RIGHT OF WAY EASEMENT made and entered into this ? day of ~c~b~er 2002 by and between Orange County, North Carolina, a body politic and corporate pursuant to the laws of the State of North Carolina, Lessor, and National Commerce Financial Corporation, formerly National Commerce Bancorporation, d/b/a National Bank of Commerce and Central Carolina Bank and Trust Company, Inc., c/o Mr. Ronald ~V. Perkins, RPA, Facilities Manager, P.O. Box 931, Durham, North Carolina 27702, Grantee; WITNESSETH: 98 ~y DG • ~ y3S-~,,,,~ That said Lessor for and in consideration of the sum of Ten Dollars ($10.00) to it in hand paid, the receipt of which is hereby acknowledged, }ias leased and by these presents does lease unto the Lessee and its heirs and assigns, anon-exclusive right of way easement of ingress from North Churton Street, Hillsborough, North Carolina, over, upon and through the property of Lessor described as " 20' ROW Easement of Ingress" as shown on the plat hereinafter referred to. The approximately 20' ROW Easement of Ingress is more particularly described as follows: 3 Lying in the Town of Hillsborough on the east side of North Churton Street and beginning at a "V" Mark on Concrete Sidewalk, the northwest corner of property owned BOOK ppOg 4 2831 319 by Lessor described in the deed at Book ~, Page Orange County Registry; running thence from said beginning point S 85° 52' E 121.5' to a nail, the northeast corner of the property of Lessor described in the deed recorded at Book ~, Page ~ J , Orange County Registry; thence S 04° 08' W 19.25' to a nail; thence N 85° 52' W 121.5' to a "V" Mark on Concrete Sidewalk; thence N 4° 08' E 20.75' to the place and. point of beginning according to plat of survey entitled "COUNTS OF ORANGE, NORTH CAROLINA," dated July 29, 2002 by MICHAEL A. NEAL & ASSOCIATES, which plat is recorded at Plat Book ~, Page Orange County Registry. To have and to hold the lease premises together with all privileges and appurtenances thereunto belonging, to Lessee subject to the terms and conditions hereinafter set forth: 1. This lease shall become effective and possession of the leased premises surrendered to Lessee commencing on October 7, 2002 and unless sooner terminated as herein provided shall exist and continue for a term of ten (10) years. Grantee shall have an option to renew this lease for additional teams of five (5) years so long as Lessor does not notify_ Lessee before the expiration of the lease term or_any renewal term of Lessor's intent to use the leased premises inconsistent with this lease. Lessee shall provide notice to Lessor of its intent to renew this lease and Lessor shall provide notice to Lessee of its intended use incompatible with this lease as described in the paragraph titled Notices. Lessor's determination of its intent to use the leased premises inconsistent with this lease shall be made by Lessor in its sole and absolute discretion. 2. Notices: For the purpose of notice or demand, the respective parties shall be served by certified or registered mail, return receipt requested, addressed to Lessee or Lessor at their respective office address, as set forth herein: To Lessor: Orange County, North Carolina Department of Purchasing and Central Services Post Office Box 8181 Hillsborough, NC 27278 To Lessee: National Bank of Commerce c/o Mr. Ronald W. Perkins, RPA 2 5 BOOK PAGE 2831 320 Facilities Manager Post Office Box 931 Durham, NC 27702 or at such other address as may hereafter be designated in writing by either party hereto. The time and date on which mail is postmarked shall be the time and date on which such communication is deemed to have been given. 3. Covenant of Title: Lessor covenants, represents and warrants that it has full right and power to execute and perform this Lease. If at any time during the term hereby demised the title of Lessor shall fail or it shall be discovered that Lessor's title does not permit Lessor to grant the term hereby demised, Lessee's remedy, which shall be exclusive of all other remedies, shall be to annul and void this lease. 4. Subordination: Lessee agrees that this lease is and shall remain subject and subordinate to and may be assigned as security for any present and all future mortgages or deeds of trust which may now or hereafter affect the lease premises. This clause shall be self-operative and no further instrument shall be necessary to effect such subordination. However, Lessee shall execute promptly and deliver to Lessor any such certificate or certificates in writing as Lessor may request evidencing the subordination of .this lease to or the assignment of this lease as additional security for any such mortgage or deed of trust and Lessee hereby constitutes and appoints Lessor as Lessee's attorney-in-fact coupled with an interest to execute any such certificate, certificates or assignments on Lessee's behalf in default of such execution by Lessee. In the event the property owned by Lessor upon which this right of way easement is located is sold pursuant to a court order in any foreclosure proceeding or is sold pursuant to a power of sale contained in any mortgage or deed of trust, Lessee agrees to execute an attornment agreement with such purchaser not in conflict herewith at the request of such purchaser. 3 BOOK PAGE 2831 321 S. Assignment and Sublease: Lessee agrees not to encumber or assign this- lease or sublease all or any part of the leased premises without the written consent of Lessor, which consent shall not be unreasonably withheld. Such assignment shall in no way relieve Lessee from any obligations hereunder for the performance of the conditions and provisions of this lease. 6. Quite Enjoyment: Lessor agrees that Lessee, upon paying the stipulated rental and keeping and performing the agreement and covenants herein contained, shall hold and enjoy the lease premises for the term aforesaid, subject to the terms of this lease. Lessee acknowledges that this lease_is of anon-exclusive right of way easement of ingress from North Churton Street, Hillsborough, North Carolina, over, upon and through the property of Lessor for the benefit of the property of Lessee that adjoins the easement and- that the Lessee may, for itself, its heirs, assigns, tenants, licensees and permittees access and use the easement for any purpose not inconsistent with this lease. 7. Indemnity: Lessee agrees- to indemnify and save harmless Lessor against and from any and all claims by or on behalf of any person, firm or corporation arising by reason of injury to person or damage to property occurring in the lease premises occasioned in whole or in part by any act or omission on the -part of Lessee or any employee, agent, visitor, assign or undertenant of Lessee or by reason of any unlawful use of the lease premises or any breach, violation or nonperformance of any covenant in this lease on the part of Lessee to be observed or performed, and also for any matter or thing growing out of the occupancy or use of the tease premises by Lessee. 8. Repair and Maintenance: Lessee agrees to keep the lease premises in good condition and repair and the pavement and curbing on the lease premises in good repair and free from potholes and obstructions. 6 4 BOOK PAGE ~ 2831 322 9, Signs: Lessee, with the prior written consent of Lessor, may affix a sign or signs appropriate to properly direct the use of the lease premises by Lessee's licensees, permittees or otherwise, provided all such signs are in compliance with the Town of Hillsborough zoning regulations and provided a zoning compliance permit is obtained from the Town of Hillsborough and a copy thereof provided to Lessor before any such sign is affixed. 14. Entire Agreement: This lease contains the entire agreement between the parties hereto, and no promises, agreements, conditions or stipulations not contained herein shall be binding upon either party hereto. NATIONAL COMMERCE FINANCIAL CORPORATION, FORMERLY NATIONAL COMMERCE BANCORPORATION, D/B/A NATIONAL-BANK OF COMMERCE AND AS CENTRAL CAROLINA BANK AND TRUST COMPANY, INC. Rona d W. Perkins First Vice President B~ ATT ST: Donna S. Baker, Clerk to the Orange County Board of Commissioners This instrument has been preaudited in the manner required by the Local Government Budget and Fiscal Control Act. ~~:~L Finance Officer of Orange County 5 ORANGE COUNTY, NORTH CAROLINA 8 BOOK PAGE 2831 323_ NORTH CAROLINA ~o COUNTY I, t~nn~ 5 • Fla,kL , a Notary Public of said County and State, do hereby certify that Ronald W. Perkins personally appeared before me this day and acknowledged that he is the First Vice President of National Commerce Financial Corporation, formerly National Commerce Bancorporation, d/b/a National Bank of Commerce and as Central Carolina Bank and Trust Company, Inc. and that by authority duly given, and as the act of said corporation, the foregoing instrument was signed in its name by him as First Vice President. WITNESS my hand and seal this ~• day of ~ty , 2002. 1~- Notary Publi ENNY s. ~~ Q My commission expires: ~l~ ~~~ ,a~rA,q~, 09 ~Oi/8t~1'G ~ NORTH CAROLINA '9iy„_ ~ ~ ORANGE COUNTY I, Narlc~ G Glover, a Notary Public of the County and -State aforesaid, certify that Donna S. Baker personally came before me this day and acknowledged that she is Clerk to the Board of Commissioners for Orange County and that by authority duly given -and as -the act of said County, the foregoing instrument was signed in its name by the Chair of said Board of Commissioners and attested by her as Clerk to said Board of Commissioners. Witness my hand and official stamp or seal, this tho~ day of ~G~ber t • ti=-~ ~ . f .1~~. My commission- expires: ~iv. ~,us t 3 ! ~2~»5' lsg:orangecounty\Lease ofRight of Way Easement ~ i ~ ~ .~f.'_i-. .. f.: - .~ ? C,) •- v . . . , ,~ ~:;, ,.~. - ' ' ' ; ~ 9 i~ +6~/ punt p of ®~\ ~, R ~r\~~~i'~ fib` Joyce ~. Pearson Register of Deeds Orange County I'Jorth Carolina BOOK _PAGE 2831 324 State: of North Carolina, County of Orange The foregoing certificate/s of Penny S. Flake and Nancy C. Glover, Notary/Notaries Public for the Designated Governmental units is/are certified to be correct. See filing certificate herein. This :day December 23, 2002 ~~, ~ A _ JOYCE H. PEAR.SON, REGISTER OF DEED~By: /rl) A/fY ~/`f' ~ / / ' /~~ ~~ I.J9A~L'1~/~'AS319Lagi t(e~$ISIer OI ~~T~-~°'"'p"~ Q 10 :::..~.3._t ,:..yam- Ta KI -e P 325 ~^ JOYtE M..'ERYS5gpe1 N~IST~??:.O~EE~Of Z F- ~ y ~ a O ~- ~ U ~ a} LL ~ ~ R ~ } : °~eO` °""'O" c.=a,r.o~.. c..ow.ar NIFCENTRALCAROLINABANK ~ ~ ~ I DB 201 PG. 475 ~'~ I ~~ / wr.io..wswr { n,p,r~ iiES17'wv.~Pd.nn:,n ~ ,,..am..~..,. o.=a..ar & ,eeerrr,~ ----.rrre..e---- ----------- ----- VICINITY MAP "°`ro°u" $ $If6 6 6 ^ TowndHilisborough ca~ m,iy.... NOTES ' ~ ~ ~~~ , ~ ~ ~ } ~ . . r.. on11.11 ~ w.r,., ~ ....~ , ,,:. wu done w5fput. w,. er,d, ~ S ~ Npwe „a k b. esd m ,d..«,cM Y,6~tim. LOT 1 ,. °'a ~ ~ oNnxoLe - oSa~En .,~fv.,w..JO. ~ (nREn = om~> "~+~` 2 aew„we.eno,tro,w~ou„em.ew,.nwea. LOT 2 ~~ rwrm ne~a~n 3 Mee d Ltl t end Lot t sn a.ce,diq PuEfe . ti fweE'A. o.2e J16) i5yik d Weye. . .Pe.m ,uaaa,nrco~on.caw. I b WowrMWuliIW • L J wen m[dekmYr,eO O q away. 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CnMY .e Rem eM o..u T,.ns(e.:h,p Propaq he,,, ~ ~(y},~,,,,„,~, NOR~"~"w""°"Y~0°w`Y N85_5P001r 5B'VN & _ ~ Cdnnwiu RrrMel Co,porstlon, k,nerly NstlaW a O B bb d W N W I il..,o. m.f~ srrs~ wmro W s+ F stlon om,w © b a„mryg l e Bu c d R pnl y,CeIOAM (D.BZWf1/35L. ~C btlti~wb,Y+~ry~dm~ r r m i e pmPaaw ~$ S~Y3T00~ _ ry ~ .te ~. . e. y. +d~e~s n~ .rte. ~P e..,ws+reo... ~~ ,~~- -7'E10 Deed Overlap ~ ~~••_ ~,~~~-~~ erw o ~' Deed Gap .....~ d ...,.. ,r ~_,. ~~~- ®wy am a Q NORTH CAROLINA COUNTY of ORAbIGE . ~r....1~..~,,..w,.., m R~ , 4 4N „w.,..,...n...,~or..a.~w~., ,~1.,.., , wa,.~,.,a,w.,,_ea,.,_ y . erac.s,r...r ~;~ HILLSBOROUGH TOWNSHIP; ORANGE COUNTY, NORTH CAROLINA '°. °'01mw~"""'~'O"s'"""1B1 arnr.w.+ weo.r. sneeww w w,e p w..,........n.w .~..r..,o~.n JULr 29.2002 .~ . .=y. ~.Fi+r, O.+jei si CKye- YS Graham guildi - ng ~, Z Graham B _ uildin9 # .~_. ~ .. r ~ '' ~ d0 0[UNGE COUNTY NC 10/08/2002 s $970.00 state or~H ~~~~4`~p.^ .~ ' ` Real Estate R t~:,~l Excise Tax ~ ~ bOQK~,,~t~t9 P<<GE e~rJ6' A.~~} ILED U8 OCT 2UU2, at U3: 24~: ?_7 pm E~nnk. 273, Page 35b - 3b0 ;Joyce H. Pearsnn Register t~f Deeds, Prange Co~.inty, N. G. GENERAL WARRANTY DEED Prepared by: D. MICHAEL PARKER Return to: Pamela K. Jones, P.O. Box 8181, Hillsborough, NC 27278 Revenue Stamps = $974.00 NORTH CAROLINA ORANGE COUNTY q$~y-oe•s4°~~ q ~`l~l•o~o. (off-13S,r-4q THIS DEED, made and entered into this the~_ day of Oc~e~e r 2002, by and between, NATIONAL COMMRRCS FINANCIAL CORPORATION, formerly NATIONAL CONNERCS BANCORBORATION, doing business as NATIONAL HANK OF COMMSRCS and as CENTRAL CAROLINA HANK AND TRIIST COMPANY, INC. (a banking corporation organized and existing pursuant to the laws of the State of Tennessee), Party of the First Part, hereinafter referred to as GRANTOR, and ORANaS COt1NTY, NORTH CAROLINA, P.O. Box 8181, Hillsborough, N.C. 27278 (a body politic organized pursuant to the laws of the state of North Carolina), Party of the Second Part, hereinafter referred to as GRANTEE; W I T N E S S E T H That the said Grantor, for and in consideration of the sum of TEN DOLLARS ($10.00) to them in hand paid and other good and valuable considerations, the receipt of which is hereby acknowledged, have and by these presents do grant, bargain, sell and convey unto the Grantees in fee simple all those certain .tracts or parcels of land located in Hillsborough Township, Orange County, North Carolina, and being more particularly described as follows: 12 13 eoRx2'739 P~c~ 35'7 LOT 1: PIN # 9874-06-5497 TM 4.30.B.12 Lying in the Town of Hillsborough on the East side of North Churton Street and beginning at a nail set on the Eastern margin of the right of way to Churton Street, which nail is located by measuring North 04° 08' 00" East 53.92 feet from the Northwest corner of the brick building formerly owned by Bonner D. Sawyer and currently owned by Seisen In Law; running thence from said beginning point with-the Eastern margin of the right of way to Churton Street, North 04° 08_' 00° East 29 feet to an iron pipe; thence So~th 85° 52' 00" East 50 feet to a nail; t`hgnce South 04° 08' 00" 29 •feet to a nail; thence North 85° 52' 00"~50 feet to the place and point of beginning and being designated as "Lot 1" and upon which is located a one story rock building known as the Graham Building, containing 0.03 acres more or less according to plat of Survey entitled "COUNTY OF ORANGE" dated July 29, 2002 by MICHAEL A. NEAL & ASSOCIATES, which plat is recorded at plat book ~, page ~~, Orange County. LOT 2: PIN# 9874-06-6435 TM 4.30.B.11 Lying in the Town of Hillsborough on the East-side of North Churton Street and beginning at a mathematical point located at the Northwest corner of an existing brick building which was formerly owned by Bonner D. Sawyer and currently owned by Seisen In Law {hereinafter "the Sawyer Building"); running thence with the Eastern Margin of the right of way of Churton Street North 04° 8' 00" East 53.92 feet to a nail, the southwest corner of Lot 1 described above; running thence with Lot 1 South 85° 52' 00"-East 50 feet to a nail, the southeast corner of Lot 1; thence continuing with Lot 1 North 04° 08' 00° East 29 feet to a nail, the northeast corner of Lot 1; thence continuing with Lot 1 North 85° 52' 00" West 50 feet to a "V" mark on concrete sidewalk, the Eastern-margin of the right of way of Churton Street, the northwest corner of Lot 1; running thence with the Eastern margin of the right of way of Churton Street North 04° 08' 00" East 20.75 feet to a "V" mark on concrete sidewalk; thence South 85° 52' 00" East 121.50 feet to a nail; thence South 04° OS' 00" West 19.25 feet to a nail; thence South 85° 52' 00" East 1.50 feet to a nail; thence South 04° 08' 00" West 83 feet to a nail; thence continuing South 04° 08' 00" w~rPa~rt 2.96 feet to a nail; thence North 85° 36' S1" West 72.61 feet to a mathematical point which is a corner of the existing building which was formerly owned by Hillsborough Savings and Loan Association and which is currently occupied by the Clerk of Superior Court (hereinafter "the HS&L Building") and which point is located in the eastern wall of the Sawyer Building; thence along the eastern wall of the Sawyer Building North 04° 23' 00" East 1.00 foot to a mathematical point which is at the northeast corner of the Sawyer Building and is another corner of the HS&L Building; thence along the southern wall of the HS&L Building and the northern wall of the Sawyer Building North 85° 37' 00" West 50.40 feet to the place and point of beginning and being designated as Lot 2 containing 0.26 acres upon which is located the one story BOOK~39 PAGE 358 brick building herein referred to as the HS&L Building, according to plat of Survey entitled "COUNTY OF ORANGE" dated July 29, 2002 by MICHAEL A.__NEAL & ASSOCIATES which plat is recorded at-plat book ~, page ~1s , Orange County. T-here is also conveyed a non-exclusive easement for Ingress, Egress, and Regress over and across an area 16 feet in width and lying immediately east of, adjacent to and contiguous with the eastern property line of the above described Lot 2, which easement begins at the northeastern corner of the above described Lot 2 and runs in a southern direction over the easement area of 16 feet in width along the entire eastern property line of Lot 2 and continues east with a line extended from the eastern property line of the above described Lot 2 South 04° 08' 00" West from the Southeast corner of the above described tract or parcel of land over an existing tract or parcel of land owned by the Grantor which parcel is more particularly described in the Deed recorded in Deed Boak- 201 at Page 472 of the Orange County Registry and. designated as Lot 3 therein, which Lot 3 is a 16 feet wide alley extending to the Northern property line of East King Street. This easement lies ire part over the area shown as an "ALLEY" on plat of Survey entitled "COUNTY OF ORANGE" dated July 29, 2002 by MICHAEL A. NEAL & ASSOCIATES. There is also conveyed an easement for purposes of the exclusive right to park motor vehicles operated by employees or patrons of the Grantee or for such other parking designation in the discretion of the Grantee upon the two southern most parking spaces owned by the Grantor, located immediately North of the North property line of the property now or formerly owned by South Atlantic Production Credit Association located on the North side of East King Street in the Town of Hillsborough, Orange County, North Carolina, which parking spaces easement is also described as II.B. in the Reciprocal Easements document recorded in Book 778, Page 174 Orange County Registry. Except as set forth above, by this conveyance the Grantor does hereby waive, relinquish and forever Quitclaim any and all easements and rights-of-way within the above described tracts or parcels of land including, without limitation, the 20 foot right of way easement of Ingress and Egress set forth in Book 778 at Page 173 of the Orange County Registry and the 10 foot alley easement set forth in Deed Books 173 Page 112 and Deed Book 179 Page 436 of the Orange County Registry. The above described Lots 1 and 2 were previously owned by Hillsborough Savings and Loan Association and were conveyed to Piedmont Bancorp, Inc. by deed recorded in Book 2013, Page 243 of the Orange County Registry. Piedmont Bancorp, Inc. merged with National Commerce Bancorporation pursuant to Articles of Merger in Book 2656, Page 386 of the Orange County Registry. National Commerce Bancorporation became National Commerce Financ}'al Corporation pursuant to Articles of Amendment filed in Book 9/ , Page l-f5 of the Orange County Registry. 14 go~K2"139 P~cE 359 TO HAVE AND TO HOLD the aforesaid tract 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 the Grantor has done nothing to impair such title as Grantor received and that the Grantor will warrant and defend the title against the lawful. claims of all persons claiming by under or though the. Grantor. IN WITNESS. WHEREOF, the Grantor has caused this instrument to be signed in its corporate name by its First Vice President, the day and.-year first above written. NATIONAL COMMERCE FINANCIAL CORPORATION, formerly NATIONAL COMMERCE BANCORPORATION, doing business as NATIONAL BANK OF COMMERCE . and as CENTRAL CAROLINA BANK AND TRUST COMPANY, ANC. _ .. By , _. ry~~f/, ~,., ( SEAL ) - •. RO1N D W . PERKINS FIRST VICE PRESIDENT .STATE OF NORTH CAROLINA COUNTY OF' ORANGE • I. ~~~-v~N !J • ~~~`~- Notary Public of , the County and State aforesaid, certify that RONALD W. PERKINS, personally came before me this day and acknowledged that he is first Vice .President of NATIONAL .COMMERCE FINANCIAL CORPORATION, formerly NATIONAL, COMMERCE BANCORPORATION, doing business as NATIONAL BANK OF COMMERCE and as CENTRAL CAROLINA BANK AND TRUST COMPANY, INC. (a banking corporation organized and existing pursuant to the laws of the State of Tennessee), and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in. its name by its president, sealed with its corporate seal and attested by him as its First Vice President: Witness my hand and notarial se his the 7~ day of ~~~/ 2002. Q~~~ ~ FBI ~t7TA,y~, T~ NOT PUBL I C My commi i rip~ir s ~~~ ~a"~ as\ccaz . cwn ~,~_ ~~ 15 16 -~ ~'~i ~0 4f t~ f' ~~ ~~ ~. ~~r~h a~a~`fi Toyce H. Pearson Register of Deeds Orange bounty North Carolina eoox2"1~g eACF 360 State of North Carolina, County of Orange The foregoing certificate/s of Penny S. Flake, Notary/Notaries Public for the Designated Governmental units is/are certified to be correct. See filing certificate herein. This day October 8, 2002 JOYCE H. PEARSON, REGISTER OF DEEDS By: Deputy/Assistant Register Deeds