Conveyance - This agreement is between buyer and DRH. You are purchasing "address" in "community" on homesite "x" in "county", Purchase Price - You are purchasing the property for $XXX. Break down the price by the table. Any special discounts are conditional to the purchaser fulfilling all the terms in the agreement and the property closing on the determined date, Financing Contingency - If paying CASH, proof of funds must be submitted to DRH within 5 business days. The buyer will need to obtain financing for XX% of the purchase price. Purchaser must apply for the loan within 5 days. Buyer will provide DRH with confirmation of application within 10 days. Buyer will provide DRH with proof of funding with no conditions or contingencies within 30 days. Loan pre-approvals typically expire after 120 days. This will require buyer to submit a new loan application closer to the time of closing if requested by the lender., FHA / VA Loans - FHA and VA will conduct a inspection. If the porperty does not appraise for $XXX, the buyer has the privilege or option to proceed with the purchase. Buyer may terminate their agreement are receive EMD in full. FHA and VA will not provide additional funding. Should the buyer proceed witht he purchase, they agree to pay the excess amount in cash from a verified source. DRH will not adjust the sales price to the appraised value, Reserved - Buyer is giving DRH permission to access information about the loan from the lender. We will reach out on a weekly basis for a loan status update., Deposits - DRH acknowledges buyer has paid $XXX for their EMD. There is no additional deposit unless the payment has been split. EMD will be retained by DRH and credited to the buyer at the closing. If obtaining a VA loan, the EMD will be held in a trust account , Survey - Every home has a survey conducted. The cost is passed on to the buyer at closing for the amount of $350. This is non-negotiable, Warranty of Title - DRH is conveying a limited warranty deed that is subject to HOA, zoning, and easements, Title Examination - The buyer has up to 10 days before closing to have the title examined by an outside attorney to ensure it is insurable. DRH is under no obligation to fix title defects, Destruction - If the home is destroyed before closing, either party can provide written notice of the termination of this agreement, Inspection - The buyer has the right to have the property inspected by an independent inspector before closing. All inspections must be scheduled 7 days in advance and approved by the builder, and they must be between 7a-4p, Monday-Friday. A DRH representative has the right to accompany the inspector. The inspector must be licensed and insured (we can request proof). *Nothing can be installed or modified before closing. *Closing will not be delayed due to failure to schedule the inspection. *Closing will not be delayed because all items are not completed. Items will be corrected in a reasonable amount of time after closing, Purchaser Indemnity - Buyer is responsible for all parties who come on the property, Inspection Results - A complete inspection report must be shared with DRH. DRH is not responsible for fixing all items on the report. Some items may be recommendations from the inspector, Walkthrough: Punchlist - Buyer will meet with Construction Manager at the property before closing. A second walkthrough will occur before closing to view the completed items from the first walkthrough, or to discuss what needs to be done to finished the agreed-to items. Under no circumstances will closing be delayed to to DRH's failure to complete, repair, or replace any item. The builder will survive all agreed items post-close in a timely manner, Real Estate Broker and Commission - I am a representative of DRH. Buyer states they have not employed any real estate broker other than ___ with ___ Realty. The listed agent is also who DRH will be paying a commission., No Reliance - I am not a legal or tax councilor, and the buyer understands that. The buyer cannot act on any advice given by me. DRH makes no representation on future land that is not owned by DRH, and no representation on schools, Wood Infestation Report - A wood infestation report will be provided at closing. The report is good from one year of closing, Hazardous Substances - DRH makes no representation or warranty on the presence of hazardous materials, such as radon, etc., Warranties and Disclaimers - DRH provides you with a 10-year limited warranty by R.W.C. for the foundation and framing; 1-year workmanship and materials warranty; 2-year plumbing and electric warranty, Manufacturer Warranties - DRH assigns all manufacturer warranties to the buyer at closing, and it is their responsibility to register these warranties, Disclaimer and Limitation on Seller's Liability - The limited warranty is provided by DRH and may not warrant items such as habitability, workmanlike construction, merchantability, etc. DRH makes no representation regarding past, present, or future condition of any land or surrounding areas, Mandatory Binding Arbitration - If there is a dispute we cannot solve, we will go through arbitration with a 3rd party, Closing - Closing constitues the receipt of funds and recording of the deed. Once that is verified, the buyer will receive the keys. If using DHI and AWM, keys will be given at closing, Closing Date - We will provide you a minimum of 3 days notice for your scheduled closing date (usually more). The closing date will come from our closing coordinator. If the closing is delayed by either party, $100/day will accrue, paid to the other party, Exchange at Closing - DRH will deliver the deed and A Certificate of Occupancy stating that all inspections have been passed and the property is livable, Place of Closing - Closing will take place in Wake County, Closing Costs - DRH will pay for the deed preparation and excise taxes. The buyer is responsible for all other closing costs, Proration - All taxes, HOA fees, and insurance costs will be prorated based on the closing date, Completion of House - DRH has 2 years to complete the property from the time we sign this agreement, Utilities and Personal Property - Buyer has 3 days to transfer the utilities into their name after closing. Personal property cannot be moved into the home until after closing, Default Remedies - If ether DRH or the buyer default on this agreement, EMD is the remedy. After closing, either party may pursue actual damages against the other party for breech of an agreement that survives the closing or termination of this contract, Time/Date - Time is of the essence. Buyer and seller must adhere to the dates noted in the agreement, Restrictive Covenants / HOA - There is an HOA and convenants. I will send you a copy of the covenants after the contract is signed. HOA regulations can be amended at a later date. Your HOA dues are $332 semi-annually. There is a one-time capital contribution fee of $500, Successors and Assigns - Buyers cannot assign this contract to anyone else, Entire Agreement - The entire agreement and any amendments are a part of this contract. Only what is written in this agreement is part of this contract, Severability - If something in the contract becomes invalid or unenforceable by law, it does not invalidate the entire contract. Only *that part* of the contract is invalid , No-Waiver - Not enforcing something immediately in this contract does not mean we can't enforce it later, Addenda and Exhibits - All the extra documents attached to this contract, Notice - This section lists the acceptable forms of notice (UPS, USPS, FedEx, email, etc) Please make sure we have your correct contact information, Excused Delays - Delays may occur when things are outside of DRH's control; acts of god, labor disputes, material shortages, etc. , Offer - This is only an offer until we both sign it, Electronic Signatures - Electronic signatures are considered the same as wet signatures. WHEN SIGNED BY BOTH PARTIES, THIS BECOMES A BINDING CONTRACT,

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