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The cost to be paid by the said J. W. Coltrane, or his assigns
shall have the sum of SEVENTEEN THOUSAND DOLLARS ($17,000.00)
$3000.00 of which is to be paid as soon as an abstract of the
property can be made and re-zoned The City of Burlington has
agreed to re-zone said property for business purposes. This option
may be accepted by the said J. W. Coltrane, or his assigns, as
of January 15, 1953, in the event, the title check proves to be
satisfactory and the property is re-zoned. Conveyance then shall
be made on January 15, 1953, by a warranty deed conveying a clear
title free from all encumbrances All tenders and deliveries here
under shall be made at the office of W. L. Shoffner, Attorney of
Burlington, North Carolina.

It is agreed that if the said J. W. Coltrane, or his
assigns shall fail to accept this option on January 15, 1953,
or shall after said acceptance fail to pay the balance due there-
on on the purchase price, which sum shall be $14,000.00, the cost
above mentioned, being the $10.00 and the $3,000.00 payments, at
the time and place, and in accordance with the terms and conditions
hereinbefore mentioned, the said J. W. Coltrane or his assigns,
shall forfeit the said payments of $10.00 and $3,000.00.

Ethel G. Harris, one of the grantors, above named shall
have the privilege of using the $3,000.00 above mentioned between
now and January 15, 1953, for the purpose of building a new home.
The deed to the said J. W. Coltrane shall be executed, and
delivered to the said W. L. Shoffner, as soon as he has completed
the abstract, and the same shall be held by him in escrow until
January 15, 1953, at which time he is to deliver said deed to
J. W. Coltrane, or his assigns upon the receipt of the balance of
the purchase price which shall be $14,000, it being understood
that the $3,000.00 above mentioned shall be delivered to the said