For each paragraph below in the Purchase Agreement INSTRUCTIONS: (1) fully explain why the paragraph is legally significant ( including contract law rule or principles) as references. (2) Identify whether the paragraph favors Gozo, or favors Danby, or provides equal benefits to both parties (3) Identify if each paragraph contains any erroneous, vague, or ambiguous terms or language. 1. Parties. Elizabeth Danby (hereafter the "Purchaser") offers to purchase, from Gozo Holdings, LLC (hereafter the "Seller") the Property, as defined below, for the Purchase Price, identified below, pursuant to each and every term contained in this Real Estate Sale and Purchase Agreement (hereafter the "Agreement"). 2. Property. Seller agrees to sell and convey, and Purchaser agrees to purchase, any interest the Seller may presently have in the real property, commonly known as Valetta Grove, more specifically described as an 80 acre parcel consisting of the northern half of the northwest quarter of section 24, in New Brunswick County, North Carolina, United States of America (hereafter the "Property"). 3. Purchase Price. Purchaser agrees to purchase the Property for $1,250,000, payable in full at the time of closing. Closing shall be scheduled at a mutually agreeable time and place within 30 days from the date of execution of this Agreement. Closing shall occur in New Brunswick County, North Carolina. 4. Acceptance. This Agreement may be accepted by Purchaser by signing and returning a fully executed copy of this Agreement to Seller on or before August 1. 5. Warranty. Seller makes the following warranties. (a) Seller owns the Property, free and clear of all liens, licenses, claims, encumbrances, easements, encroachments on the Property, and rights of way of any nature, not disclosed by the public record. (b) Seller has no knowledge of any pending litigation involving the Property. 6. Conditions. Purchaser's obligation to pay the purchase price is conditioned upon Purchaser obtaining on a real estate financing loan, including terms acceptable to the Purchaser, prior to closing. 7. Delivery. Seller shall deliver a deed to the property at the time of closing. 8. Entire Agreement. This Agreement contains the complete and final agreement between Purchaser and Seller, and supersedes any prior or contemporary negotiations or agreements of the parties. Further, no agreement or other understanding in any way purporting to modify the terms and conditions of this Agreement shall be binding upon Seller unless agreed to in writing, signed by Seller, on or subsequent to the date of this Agreement. 9. Governing Law. This Agreement shall be construed, interpreted and enforced in accordance with the laws of the State of North Carolina. 10. Disputes. In the event Purchaser breaches any portion of this agreement or Seller is otherwise required to pursue any remedy for any conduct arising out of this agreement, Purchaser agrees that Seller shall be entitled to any costs, including attorney fees and litigation expenses, incurred by Seller in pursuing any remedy against Purchaser