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Home My WebLink AboutS ERCD - Triangle Community Foundation Option to Purchase Little River Natural Area and Park 3 NORTH CAROLINA OPTION TO PURCHASE This Option to Purchase made on fkq,�j ,3 0 2°a0 ,between TRIANGLE COMMUNITY FOUNDATION,hereinafter referred to as Seller,to C UNTY OF ORANGE,NORTH CAROLINA,hereinafter referred to as Buyer. WITNESSETH, that the Seller, for and in consideration of the sum of ELEVEN THOUSAND AND NO1100s DOLLARS($11,000.00)(hereinafter referred to as"Option Money")to them in hand paid by the Buyer, receipt of which is hereby acknowledged, does hereby give and grant unto the Buyer, their 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 thereon, located in the County of Orange, State of North Carolina, and more particularly described as that portion of the 390.91 acre tract described on Exhibit A which is located entirely in Little River Township, Orange County,North Carolina(hereinafter referred to as the Property"). At the time of the exercise of this option,Buyer may exercise its option to purchase,alternatively,the entire plot,piece,or parcel of land,less and except that 26 acre tract shown on Exhibit B, under the same terms as conditions. The terms and conditions of this option are as follows: 1. Term. This option shall exist and continue until 5:00 P.M. EST on Max 31, 2000. 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: Mr. Fred Stang Triangle Community Foundation 100 Park Offices, Suite 209 P. O. Box 12834 Research Triangle Park,North Carolina 27709 3. Contract Upon Exercise.Upon exercise,the terms of purchase and sale shall be as set forth on Exhibit C attached hereto, and incorporated herein by reference. 4. Application of Option Money. The consideration paid for this option, above set forth shall be applied to the purchase price at closing, if this option is exercised. If this option is not exercised,the Option Money will be retained by Seller, except as provided in 5.A.below. 5. Other Conditions. A. The parties hereto acknowledge that Durham County,North Carolina will enter into an Option to Purchase all of the Tract described on Exhibit "A" which is located entirely in Durham County, North Carolina. If Durham County does not exercise the aforesaid option,then this Option,unless otherwise agreed to by Orange County and the Seller, will be null and void and the Option Money shall be refunded to Orange County. B. A Phase I Environmental Study will be conducted by the Buyer, at Buyer's expense, and shall be completed on or before 5:00 p.m. May 31, 2000. If the Phase I Environmental Study reveals conditions which disqualify the Buyer from receiving Clean Water Trust Fund grants for the property, then the Option Money shall be refunded to Buyer and the Option shall be terminated. C. Buyer agrees to pay for and complete by May 1,2000 the survey required to prepare the exhibit to the Offer to Purchase and Contract,which survey will locate precisely the property being purchased. If Buyer elects not to purchase the 26 acre tract, then Buyer agrees that the survey will locate precisely the 26 acre tract, essentially along the lines shown on Exhibit"B". D. Buyer must notify Seller of its intent to omit the 26 acre tract from the purchase by 5:00 p.m. on May 31, 2000. E. The Seller agrees to allow the Buyer access to the Property for inspecting,planning,design and fund raising purposes. F. The Buyer agrees to involve the Seller in future publicity and public relations events concerning the Property to a level mutually agreed.upon by the Seller and the Buyer. N.C.Bar Assoc.Form No.8® 1977 - -Printed by Agreement with the N.C.Bar Assoc. 0003 IN WITNESS WHEREOF, the Seller 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. COUNTY OF ORANGE,NORTH CAROLINA TRIANGLE COMMUNITY FOUNDATION BY: JOHN . LINK,JR., ange aunty Manager (C orate Na,iJe B Vesiden—t ATTEST: Beverly . lythe, Jerk to the Boa 1 tr Commissioners .'Ear °`. (Secretary{Corporate Se S. GAjj,, � NORTH CAROLINA, County. _A�sw y fif' 1, the undersigned, a Notary Publ of the County and State aforesaid, certify that BEVERLY A. BLYTHE �6?AF1 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 John M. Link, Jr., the County Manager, and attested by her as Clerk to said Board of (0 , Commissioners. ••�'��'� ��"'NN `,s```. Witness my hand and official stamp or seal,this _day of , ,2000. My commission expires: �_�7 9 "*tary Public NORTH CAROLINA, County. SFAL-STAM? 1,the undersigned, a Notary Public of the County and State aforesaid, certify thet l �� personally appeared before me this day and acknowled ed the execution of the foregoing instrument. ! Witness my hand and official stamp or seal,this day of ,2000. My commission expires: L G� Notary Public 1,the undersigned,a Notary Public of the County and State aforesaid,certify thatt lwuau . ltL� SEAL-STAMP personally came before me this day and acknowledged that he/she is Secretary of TRIANGLE COMMUNITY FOUNDATION,a North Carolina corporation,and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in its name by it President,sealed with its corpor a seal and attested by him/her as its Secretary.Witness my hand and of icial st p or seal,this day of NaV2000. My commission expires: otary Public "Iwr Recommendation: Attach fully completed "Offer To Purchase And Contract" N.C. Bar Assoc. Form No. 2, as Exhibit A to set out the terms of Purchase and Sale Upon Exercise. LHP/21180 N.C.Bar Assoc.Form No.8 ® 1977 Printed by Agreement with the N.C.Bar Assoc. 9003 1 E]�Y82T "11," BEGIMING at a ,point in the east side :of Guess Road and running thence North 60° 28' 43" East 209.89 feet to a point; thence north 06' 38' 17" Past 166.58 feet to a point,; thence North 60' 36' 55" East 1742.18 feat to a point; thence North 64' 13' 08" East 2218.40 j feet to a point; thence. North 080 03 ' 53" East 1793.25 feet to a point; thanca North 86' 50' 22" West 53..94 teat to a point; thence North vl' 24' 42" East 2058.27 feet to a point in the Centerline of j Little Rived thence along and with Little River the following courses and distances: South 52' 36' 07" East 244.97 Feet; South 83-*- 25' 08" 'East 140.92 feet; North 53° 33' 50" East 188.35 feet; 1 South SO 20' 22" East 166.56 feet; North 87' 33 ' 48" East 322.76 ,j feet; South 36' 00' S8" East" 91..11 feed South 06' 09' 52" East 146.98 feet; south 03' 44' 05" East 135.69 fact; South 11' 08' 33" East 265.60 feet; South 13' 50' 11" East.135.37 feet; South 17' 30' 09" East 179.29 feet; south 14'. 10' 28" East 161,15 feet; South 10° 31' 53" East 247.54 feet; south 10' 00' 44* East 241.75 feet; South 14' 58' 28" East 101.94 feet; South 12' 10' 32" West 361.58 feet; South 17' 43' 09" East 57.86 feet; South 21' 10' 57" East 178.90 feet; South 28' 37' 20" East 231.23 feet; South 38° 51' 42" East 204.80 feet; South 30' 35' 26" East 122.15 feet; South 59° 40' 05" East 141.53 feet; South 52' 37' 15" East 274.95 feet; South 16' 22' 53" West 679.31 feet; South 63' 20' 08" West 384.72 feet; South 26' 11' 06" West 197.34 feet; South 06' 24' 39" East 204.00 feet; South 66' 00' 13" East 101.07 feet; south 19°: 12' p14" East 133.73 feet; South 11' 151 20" East 246.50 feet; South 28' 00' 37" East 352.98 feet; South 35' 45' 40" East 140.10 feet; South 57' 44' 22" East 116.80 feet to a point in the property :line of North Fork Section 3 as shown in Plat Book 113, Page 33; running thence along and with isaid North Fork line South 39° 361 42" West 2892.69 feet to a control corner in the property line of Wade L. Cavin, Deed Book 317, Page 434; thence along and with the Cavin line Korth 64° 00' I 52" West 865.45 feet to a point in the southern right of way of Riverboat Road; thence crossing said Riverboat Road and with the Little River Farms line North 64° 00' '52" West 919.53 feet to a control corner in the property line of. David Lee, Deed Book 389, Page 34; thence along and with the Lee line North 87' 34' 46" West 896.72 feet to a point in the property line of Robert V. Beck, Plat Book 47, Page 17; thence North 05 33' 41" Fast 310.06 feet; thence North 89° 15' 58" West 866.79 feet; theinee North 00" 45' 19" East ! 200.00 feet to a point; thence North 89' 14" 20" West 450.69 feet to a point; thence South 13' 59 ' 31" East 186.18 feet to a point; thence North 89' 12' 02" West 118 .29 feet to a point in the east line of Guess Road; thence along and with the east line of Guess Road North 38' 47 ' 17" West 311.57 feet to the point and place of BEGINNING containing 390.91 acres, more 'or less, according to that unrecorded survey by Hamlett-Jennings & Associates dated October, 1996 entitled "Recombination Plat George, W. Newton" to which survey j reference is hereby made for a more particular description. CAA:Ibd:309i 3 t i ws C"L too Oka V. J'r• Y �� t' •� �`"T 1 p,.r. R4 Horvath Associates. Inc. � a va�rurr n�a my.ra o err raw~w:a.�wwr�...wwn W ca:oRae W.NEWO a _. PFOPEW oEVEL oP1dFNI PLAN WHAK Holm+CARM.M }