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HomeMy WebLinkAbout2014-330 DEAPR - Kenneth Craver for legal services for Orange County's acceptance of the Davis conservation easement $3,500 KENNON lYrlliam A Anderson,11I Grorndolyn C Brooks pllc Joel M GRhadeyCn ATTORNEYS AT LAW G Rhoda Cnn�er James R 6whom Brian Al Ferrell Milian 7'Hrarhins,fr" Katherine 4 Mrhee Henry W Sappenfirld Leigh r Vinci! A William finnan,Retired *Board CrrrifirdSjerialisr in June 26,2014 Eirare PGmning cr Probate Lau, 'Raard Crrrifird Specialisr in Real Properq Law; Rusinas,Commercial and ludwrrial Transactions Mr. Rich Shaw Orange County,North Carolina ERCD P.O. Box 8181 Hillsborough, North Carolina 27278 RE: Engagement For Legal Services: Orange County's Acceptance of a Conservation Easement From Jason& Rebecca Davis Dear Rich: Thank you for contacting me regarding Orange County's need for legal assistance in the acquisition of the above referenced conservation easement(the"Easement"). I am pleased to assist the County with this transaction. If agreeable to the County, this letter establishes the term of our engagement. Title Search &Title Insurance The property to be encumbered by the Easement is identified as being an approximately 3.47 acre portion of the parcel having Orange County PIN 9856-56-5405 (the"Property"). I will perform a title search on the Property. If a prior title insurance policy can be located, then we will conduct a limited title update search. The update search will begin on the date of a prior owner's title insurance policy was issued (the"Beginning Search Period"). We will not review title documents prior to the Beginning Search Period and we will not identify title defects that occur prior to that date. However, you will be insured against earlier title defects via the title insurance policy we will procure on behalf of the County. If a prior title insurance policy is not located, then we will conduct a full search of no less than 30 years. We will provide the County with a preliminary title opinion on forms prescribed by Investors Title Insurance Company containing the results of the title search in advance of the closing. We will also procure a title insurance policy for the purchase amount of$21,600.00. The County will be responsible for the payment of the title insurance premium. Please be aware that matters of zoning and environmental hazards are not included in a standard title search. Please notify me immediately if you require additional information or assistance concerning these two issues. Zoning laws affect setback and use requirements to name a few. Environmental hazards include, but are not limited to, the existence of radon gas, lead-based paint, underground storage tanks and asbestos. 1 4011 university drive,suite 300,durham,nc 27707 •Post office box 51579,durham, ,a 27-717-1579 TELEPHONE 919 490 0500 FAX 919 490 0873 www.kennencravercom I will prepare a legal description of the Property based on the survey that I understand is now being prepared specifically for this transaction. The legal description will be used to describe the Property in the Warranty Deed of Conservation Easement(the "Easement Deed"). The Easement Deed was drafted, negotiated and executed prior to my involvement in this matter Closin I will conduct the closing on the Easement. The closing can occur in my offices or another location that works better for the parties. The County agrees to wire the closing funds into my trust account prior to the closing. I will make every effort to provide the County with a draft of the settlement statement no less than 24 hours prior to the closing date. Following the closing, I will update title and record the new plat and Easement Deed in the office of the Register of Deeds and prepare a final title opinion and deliver the same to Investors Title for issuance of the title insurance policy. Legal Fees & Expenses This engagement is specifically limited to: (1) performing the title search; (2)preparing the title opinion; (3) procuring title insurance;(4)disusing any title issues discovered during the title search with you; (5) recording the documents listed above; and (d) conducting the closing. Please be aware that additional work necessary to complete the closing, such as attempting to resolve significant title defects, may require work beyond the scope of this letter and in excess of the"not to exceed"amount listed below. In the event the County requires representation prior to closing or additional legal work not referenced in this letter becomes necessary (such as work associated with clearing any title defects), then I will perform such work at the County's specific: request under an amendment to this agreement at our normal hourly rates My fees for performing the legal work outlined herein are as follows: (1) $85.00 dollars per hour for the services of my firm's real estate paralegal who will collect the necessary documents from the office of the Register of Deeds and otherwise assist me with this matter; and (2) $235.00 per hour for all work I perform. The fees due under this agreement will not exceed $3,500.00. I will begin work on this transaction as soon as I received an executed copy of this letter agreement from the County. Please understand that I must charge for all work performed even if this transaction fails for any reason. Please do not hesitate to contact me with any questions or concerns regarding this letter. I look forward to working with you on this transaction. cerel ri . errell HE FIRM kennon craver,pfic 4011 university drive.suite 300,Aurhorn,»c 27707 • Posl office box 51579.durhnni. 2-1-1.579 TELEPHONE 919 490 0500.FAX 919 490 0873 • wwuk ken noncnnvr.cou, Engagement Letter Signature Page The legal services engagement described herein is understood and agreed to: Orange County,North Carolina By: , Bonnie Hammersley, County ager Date: `?/ This instrument has been pre-audited in the manner required by the Local Government Budget any isc�ntrrct.•,� Orange County Finance Director kennon craver,pllc 4011 university drier,mite 300,durbam,tic 27707 • post officr box 51572 durbmu.iu 3 71-.1579 TELEPHONE 919 490 0500.FAX 919 490 0873 wiem.kennoncrevrr.com