H I C KO R Y TAV E R N I N D I A N L A N D ( C H A R LOT T E M S A ) , S C

C L I C K H E R E F O R A E R I A L F O O T A G E

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T A B L E O F C O N T E N T S

T R A N S A C T I O N T E A M

S T E V E H O R V A T H7 0 4 - 3 7 9 - 1 9 8 1h o r v a t h @ b e r k e l e y c a p . c o m C A R L B R E N D E S7 0 4 - 7 1 4 - 2 3 6 3b r e n d e s @ b e r k e l e y c a p . c o m

R A N S O M E F O O S E7 0 4 - 3 7 9 - 1 9 8 5f o o s e @ b e r k e l e y c a p . c o m M E G H A N K N O T T S7 0 4 - 7 1 4 - 2 3 6 8k n o t t s @ b e r k e l e y c a p . c o m

M A P S 4

O F F E R I N G O V E R V I E W 6

I N V E S T M E N T H I G H L I G H T S 7

A E R I A L S 8

S I T E P L A N 11

C H A R L O T T E K E E P S G R O W I N G S O U T H 12

I N D I A N L A N D E M P L O Y E R A N N O U N C E M E N T S 13

N E A R B Y U S E S 15

M A R K E T O V E R V I E W 17

D E M O G R A P H I C S 21

CONFIDENTIALITY 22

NC RE LICENSE NO.: C9467

In Cooperation with Bryan Wyker

8 3 6 4 C H A R L O T T E H I G H W A Y

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R E L A T I O N M A P

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8 3 6 4 C H A R L O T T E H I G H W A Y

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L O C A T I O N M A P

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O F F E R I N G O V E R V I E W

D E M O G R A P H I C S N A P S H O T

1-MILE 3-MILE 5-MILE

2021 POP. PROJECTION 3,373 22,747 63,823

2016 POP. ESTIMATE 2,899 19,572 56,001

POP. GROWTH 2000-2016 275.51% 311.78% 226.25%

HH GROWTH 2000-2016 299.65% 350.52% 233.04%

2016 EST. AVG. HH INCOME $84,687 $88,022 $107,405

for detai led demographics, p lease cl ick HERE

T R A F F I C C O U N T S

AADT

US-521/CHARLOTTE HWY 26,600**

P R O P E R T Y D E T A I L S

NAME HICKORY TAVERN ANNUAL RENT $198,000

ADDRESS 8364 CHARLOTTE HIGHWAY RENT INCREASES 10% EVERY FIVE YEARS

MARKET INDIAN LAND (CHARLOTTE MSA), SC RENT COMMENCEMENT JANUARY 2016

BUILDING SIZE 5,877 SF RENT EXPIRATION JANUARY 2026

LAND SIZE 1.506 AC LEASE TYPE NN - ROOF & STRUCTURE

PARKING 92 SPACES ORIGINAL LEASE TERM 10 YEARS

TENANT* T&B CONCEPTS OF INDIAN LAND, LLC LEASE TERM REMAINING 9 YEARS

YEAR BUILT 2015 OPTIONS TWO, 5-YEAR

RIGHT OF FIRST REFUSAL NO ASKING PRICE $3,443,000 (5.75% CAP RATE)

*Hickory Tavern Corporate Guarantee - 23 restaurants

**and increasing rapidly

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EXPANDING REGIONAL RESTAURANT OPERATORFounded in 1997, the Hickory Tavern network has grown to 23 locations across North Carolina, South Carolina, Tennessee and Alabama. Recognized for casual dining, a lively bar atmosphere, and sports enthusiasm, Hickory Tavern has been a well-recognized regional operator for 20 years.

LONG TERM LEASE | NEW CONSTRUCTIONOpen since January 2016. The newly constructed Hickory Tavern is rough-ly one year into their new 10 year lease. The lease calls for 10% rent in-creases every 5 years and throughout options.

OUTPARCEL TO PUBLIX ANCHORED CENTERHickory Tavern is one of the few outparcels to this newly constructed high quality Publix grocery anchored center. Other outparcel tenants include: Bojangles, Dunkin’ Donuts, Salsarita’s, Hwy 55 Burgers, Marco’s Pizza and three other tenants under construction – NTB, Blue Cross Blue Shield and a bank to be announced.

EXPLOSIVE GROWTH SUBMARKET OF CHARLOTTE - SOUTH CHAR-LOTTE KEEPS EXPANDINGAs Charlotte continues to grow and expand south, submarkets such as Indian Land prosper accordingly. Within a 3 mile radius of site, the popu-lation has grown by over 320% since 2000. Average household income is $88,000 and just like suburban growth north of the location (e.g. Ballan-tyne) the area is expected to fill in with extensive residential growth and density.

INDIAN LAND ELEMENTARY, MIDDLE, AND HIGH SCHOOLS ACROSS THE STREETAll three school systems sit directly across the street from the Hickory Tav-ern site. Combined, enrollment is approximately 2,500 students.

CONTINUED OUTPARCEL DEVELOPMENTThere are currently three outparcel tenant with freestanding buildings un-der construction. This new center will continue to grow and thrive as Indian Land continues to develop and Charlotte continues to expand.

MAJOR EMPLOYER ANNOUNCEMENTS/GROWTHMarketing and technology firm, Red Ventures, will add 300,000 square feet of space to its existing headquarters off Highway 521 in Indian Land, SC. Comprised of three connected buildings, the $90 million addition will add space for 1,500 more employees that Red Ventures hopes to hire in the next five to seven years. The six-story building and training facilities areexpected to be finished in the second quarter of 2017. Completed in the second quarter of 2016, Movement Mortgage opened the doors to its new $22 million corporate headquarters and national sales support center in In-dian Land, SC after relocating from Virginia Beach, VA The opening means 672 jobs are coming to Indian Land. These companies have both men-tioned the tax incentive packages offered by the state of South Carolina, combined with the access and convenience of Charlotte, made this area very attractive.

360,000 SF MASTER PLAN DEVELOPMENT 0.5 MILESLaurel Hills Commons is a proposed 360,000 power center located only 0.5 miles from the subject Hickory Tavern. New development similar to this is expected to continue in this expansive Charlotte submarket. See site plan HERE.

SUN CITY CAROLINA LAKES RETIREMENT COMMUNITYLocated 1.2 miles (2 minutes) from the subject Hickory Tavern site, Sun City Carolina Lakes is a 55 and over Del Webb Community that spans 1,512 acres with more than 3,400 homes and an 18-hole golf course.

EXCELLENT PARKINGWhile the site for restaurant purposes is mostly built out, with such a high number of parking spaces (92 spaces, 1.5 acres), the parcel does allow adaptive reuse or expansion. The investor must take into account however that the tenant controls the facility for 19 years including options.

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I N V E S T M E N T H I G H L I G H T S

C H A R L O T T E C B D2 3 M I L E S

I N D I A N L A N D M I D D L E S C H O O L

6 5 7 S T U D E N T S

I N D I A N L A N D E L E M E N T A R Y S C H O O L

9 4 1 S T U D E N T S

US

52

1 - 26

,60

0 V

PD

D O B Y S B R I D G E R D

N O R T H A E R I A L

8

C O L L I N S R D

I N D I A N L A N D M I D D L E S C H O O L

6 5 7 S T U D E N T S

I N D I A N L A N D H I G H S C H O O L

9 0 3 S T U D E N T S

S U N C I T Y C A R O L I N A L A K E S C O M M U N I T Y & G O L F C L U B

$ 4 0 0 K - $ 1 . 6 M MC A T A W B A R I V E R

U S 5 2 1 - 2 6 , 6 0 0 V P D

U S 5 2 1 - 2 6 , 6 0 0 V P D

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S O U T H A E R I A L

10

Up to 2,604 SF Available

CrownCleaners

The Southern

Olive

Fendi Nail

23,600 VPD

To Fort Mill

To Waxhaw/Marvin

Collins Rd.

Doby’s Bridge Rd.

To Lancaster

Carolina Smile Dentistry

1,902 SF Available CRUZIN

RUBENZ

2,350 SFAVAILABLE

2,400 SF Available

P:\Active Projects\York Development\Hendley Creek Development 16195\Engineering\Design Drawings\Progress\16195 SK2.dwg, COVER, 10/25/2016 11:49:10 AM, anewsome, 1:1

To Ballantyne

ADJACENTPROPERTY

OUTPARCEL 51.23 ACRES

OUTPARCEL 41.01 ACRES

OUTPARCEL 31.02 ACRES

OUTPARCEL 21.27 ACRES

OUTPARCEL 11.40 ACRES

OUTPARCEL 6TOTAL 4.37 ACRES

(W/O BMP 3.88 ACRES)

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S H O P P I N G C E N T E R S I T E P L A N

Throughout its history, Charlotte has grown to the south and southeast and the quality of the maserplanning and development has been excellent.

Neighborhoods heading south as old as Dilworth and as recent as Ballantyne, have expanded south including towards Indian Land (see below). Now that the growth has crossed the SC state border (with motivating tax factors) the growth continues to be rapid with major Indian Land, SC and Fort Mill, SC employer announcements (see next pages).

Therefore Charlotte expects continued intense residential quality development to follow and fill in e.g. see below existing example Sun City.

CHARLOTTE CBD

DILWORTH

SOUTHPARK

QUAIL HOLLOW

BALLANTYNE

HICKORY TAVERN SITE 1.2 MI

PARK RD/HWY 51/ CARMEL AREA

SHARON/SHARON VIEW

PARK RD/HWY 51/ CARMEL AREA

MYERS PARK/EASTOVER

FOXCROFT

COLONY RD/REA RD AREA

ARDREY KELL/BLAKENEY AREA

WEDDINGTON/PROVIDENCE RDFURTHER SOUTH

INDIAN LAND

PROVIDENCE RDNEIGHBORHOODS

SOUTH CHARLOTTE NEIGHBORHOODS EXTENDING TO INDIAN LAND

SUN CITY/CAROLINA LAKES GOLF CLUB

Sun City/Carolina Lakes Golf Club

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C H A R LOT T E K E E P S G R O W I N G S O U T H

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INDIAN LAND EMPLOYER ANNOUNCEMENTS

RED VENTURES BREAKS GROUND ON PROJECT TO DOUBLE SIZE OF ITS HEADQUARTERS

NOVEMBER 4, 2015

INDIAN LAND, S.C.--Marketing and technology firm Red Ventures broke ground Wednesday on a project that will double the size of its headquarters – and CEO Ric Elias is hoping the ceremony won’t be the company’s last.

“You never take it for granted,” said Elias, standing in front of the site of its planned new buildings. “This could truly be our last groundbreaking. ... This world is changing fast.”

“In many ways, what’s coming is hard,” said Elias, who said the firm will have to stay hungry and innovate in order to sustain growth.

The company has added to a growing boom on the southern edge of the Charlotte metro area in upstate South Carolina. Government officials heaped praise on Red Ventures, which has grown rapidly since it was founded in 2000 and now employs more than 2,200 at its Indian Land headquarters.

“I want to work at Red Ventures when I grow up,” said S.C. Gov. Nikki Ha-ley, speaking about a company known for its hard-charging environment and amenities such as a basketball court and bowling alley for employees. “This is a fantastic place.”

South Carolina has approved job development tax credits to help fund the project, Haley’s office said Wednesday, though the value of the credits was not disclosed. The state is also giving Lancaster County a $550,000 grant for road improvements, including expanding and extending S.C. 160, which will become the main entrance to the campus.

The company, which moved its headquarters from Charlotte to just south of the state line in 2009, announced recently that it has invested $15 mil-lion in a San Francisco-based mobile advertising company called Ampush.

In May, Red Ventures bought marketing services firm Imagitas for $310 million.

Red Ventures also has offices on Louis Rose Place in the University City area, and in July leased 97,599 square feet at the nearby Cambridge Cor-porate Center. For complete article, please click HERE.

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INDIAN LAND EMPLOYER ANNOUNCEMENTS

MARCH 23, 2015

MOVEMENT MORTGAGE BREAKS GROUND ON NEW INDIAN LAND HEADQUARTERS

INDIAN LAND, S.C.--A mortgage company headed by a former Carolina Panthers player broke ground Monday on new headquarters in Indian Land, where it will move jobs from Charlotte and elsewhere in exchange for incentives from South Carolina.

South Carolina Gov. Nikki Haley attended the event marking the start of construction on Movement Mortgage’s new headquarters. The company, whose CEO and co-founder is former Panthers tight end Casey Crawford, is getting $53 million in tax incentives from South Carolina to bring more than 650 jobs to Lancaster County.

Under the deal announced in January, Movement is relocating its Virginia Beach, Va., headquarters to Bailes Ridge Business Park near S.C. 160 and Calvin Hall Road. The company also will move 200 jobs from Charlotte’s Ballantyne Corporate Park to the Bailes Ridge headquarters after it opens.

At the groundbreaking event, Haley called Movement Mortgage “perfectly suited for South Carolina” because the company is “completely committed to customer service.”

South Carolina is also “in the customer service business,” Haley said.

“Any company that’s on the move, that’s new and energetic and success-ful, that’s who we are as a state.”

Construction on the 104,000-square-foot headquarters is expected to be completed in March 2016. Movement will invest $22 million to build the headquarters.The company said the benefits of the new headquarters will include in-creased efficiency and productivity.

Movement was founded in 2008 with four employees. The company says

it now employs 1,600 in 40 states.

Monday’s groundbreaking marks the latest start of construction on the headquarters of a company shifting jobs from the Charlotte area to South Carolina.

Last month, financial services firm LPL Financial broke ground in Fort Mill, where it plans to relocate 1,200 employees from Charlotte. LPL is receiving an incentives package from South Carolina, including $2 million to help prepare its site in the Kingsley Park development, off Interstate 77 across from Baxter Village.

Last year, Lash Group, a health care consulting company, also announced it is relocating about 1,200 Charlotte employees to Kingsley Park in a new headquarters operation.

In January, Crawford said an incentives package offered by North Carolina to retain Movement Mortgagewas not competitive with the package South Carolina offered.

For complete article, please click HERE.

Publix located directly behind subject Hickory Tavern

Marco's Pizza/Hwy 55 adjacent to subject property Sun City Carolina Lakes Community

Sun City Home

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N E A R B Y U S E S W I T H I N 1 M I L E

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C H A R L O T T E , N C

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M A R K E T O V E R V I E W

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M A R K E T O V E R V I E W

INDIAN LAND, SCIndian Land is a major suburb of Charlotte, North Carolina. It is an unincorporated community in the northernmost part (the "Panhandle") of Lancaster County, South Carolina. It lies east of Fort Mill, just south of Bal-lantyne in southern Charlotte, and west of the villages of Marvin and Wax-haw in North Carolina.

Indian Land is home to the headquarters of Continental Tire North Amer-ica, Red Ventures, Sharonview Federal Credit Union, and The Inspiration Networks. Indian Land will soon welcome the expansion of Red Ventures with a $90MM investment in the area that will double their current foot-print along with the relocation of the corporate headquarters of Movement Mortgage which was founded by former NFL player Casey Crawford. Keer America Corporation, Honeywell, URS Corporation and TriNet also main-tain a notable presence in the panhandle region.

CHARLOTTE, NCOver 7.1 million people live within a 100-mile radius of Charlotte, with Char-lotte being the largest city within the region. As a result, Charlotte has become a financial, distribution, and transportation center for the entire re-gion. Although the metropolitan area itself has a large population base and has experienced strong and diversified growth since the 1970s, it has the potential for further growth that has attracted favorable local and national attention. As Charlotte increasingly fulfills its regional role, it will continue to be one of the most attractive investment areas in the southeastern Unit-ed States.

TRANSPORTATION AND INFRASTRUCTURECharlotte is served by a highly efficient state and federal highway network, including major north-south and east-west interstate arteries, and by a modern international airport terminal. Interstates 77 and 85, which inter-

sect in Charlotte, are integral to the distribution and manufacturing indus-tries. Charlotte’s third interstate highway is I-485, a 63-mile circumferential highway that was completed in 2015.

The Charlotte Douglas International Airport is the nation’s 6th busiest air-port and the 11th busiest in the world in terms of total passengers with over 38 million passengers boarded annually. The Charlotte region is also the center of the nation’s largest consolidated rail system. Two major rail sys-tems, CSX Transportation and Norfolk Southern Railway, link 44,800 miles of rail between Charlotte and 23 states east of the Mississippi River. Over 275 trucking firms located in the region provide ground transportation.

MAJOR EMPLOYERSCharlotte’s largest employers represent a variety of industry sectors, in-cluding banking and finance, healthcare, government services, retail, transportation, manufacturing, and telecommunications. The city is home to many corporate headquarters, including Duke Energy, Nucor, Sonic Au-tomotive, SPX, Family Dollar, and Goodrich. Lowe’s Home Improvement is also headquartered in the region. Charlotte ranks fifth in the nation in the number of Fortune 500 headquartered companies and is home to opera-tions for 311 Fortune 500 companies.

BLUE LINE EXTENSIONCurrently, the Blue Line is 9.6 miles long and operates from I-485 at South Blvd to uptown Charlotte. The rail service will extend from 9th St in Center City to the UNC Charlotte campus. The line will pass through North David-son (NoDa) and University City. The extension will provide an additional choice of mobility for the north commuters and further connect Charlotte’s economic activity centers (Center Business District and University City). The $1.2B project is expected to open service in 2017 and will bring new business and continue to attract development along its length.

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M A R K E T O V E R V I E W

REPUBLIC SERVICES TO OPEN CUSTOMER SERVICE CENTERFebruary 2016- Republic Services will open a full-service customer ser-vice center in Charlotte, creating more than 350 new jobs and investing $6.8 million over the next three years. Currently headquartered in Phoenix, Arizona, Republic Services is an industry leader in the domestic non-haz-ardous solid waste industry, as well as a Fortune 500 company, publicly traded on the New York Stock Exchange (NYSE: RSG). The company has leased 82,375 square feet at 10815 David Taylor Drive.

RED VENTURES TO ADD 500 NEW JOBS IN MECKLENBURG COUNTYDecember 2015- Red Ventures will expand its Mecklenburg County opera-tions by adding 500 new jobs over the next five years. This announcement will bring the company’s employment in Charlotte to more than 1,000 work-ers. The additional workforce will result in a payroll impact of nearly $24.5 million annually. The company will lease space in Cambridge Corporate Center at 10101 Claude Freeman Drive in the University Research Park to accommodate its growth. It will invest more than $5 million in building im-provements and equipment at the new location.

COCA-COLA BOTTLING ANNOUNCES NEW CUSTOMER CARE CENTERNovember 2015- Charlotte-based Coca-Cola Bottling Company Consoli-dated announced the opening of a new Customer Care Center on West W.T. Harris Boulevard in north Charlotte. The facility will handle all of the company’s customer business-to-business sales and customer service calls, emails and fax inquiries. Coke Consolidated currently employs 183 people at the facility. The company expects to have a total of 300 employ-ees at the new facility and is investing $8.1 million in the operation.

2015 CHARLOTTE ACCOLADES

• No. 10 Innovation and EntrepreneurshipOct. 2015 U.S. Chamber of Commerce Foundation of states

• No. 1 Growth in Number of Businesses Sept. 2015 WalletHub.com of 260 large cities

• No. 5 Population- Growth Sept. 2015 WalletHub.com of 260 large cities

• No. 5 Job GrowthSept. 2015 WalletHub.com of 260 large cities

• No. 6 Fastest Growing EconomiesSept. 2015 WalletHub.com of 260 large cities

• No. 9 Fastest-Growing CitiesJan. 2015 Forbes of 100 metro areas

• No. 3 Top Moving DestinationsJan. 2015 United Van Lines of all states

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M A R K E T O V E R V I E W

Bank of America Stadium - Home of the Carolina Panthers

BB&T Ballpark - Home of the Charlotte Knights Charlotte Motor Speedway

Spectrum Center - Home of the Charlotte Hornets

POPULATION 1 MILE 3 MILE 5 MILE 2021 Projection 3,373 22,747 63,823 2016 Estimate 2,899 19,572 56,001 2010 Census 2,211 14,759 43,879 2000 Census 772 4,753 17,165 Growth 2016-2021 16.35% 16.22% 13.97% Growth 2010-2016 31.14% 32.61% 27.63% Growth 2000-2010 186.46% 210.51% 155.63%

2016 EST. HOUSEHOLDS BY HOUSEHOLD INCOME 1,163 7,749 20,099 Income < $15,000 52 4.46% 425 5.48% 1,027 5.11% Income $15,000 - $24,999 79 6.83% 465 6.00% 1,131 5.63% Income $25,000 - $34,999 103 8.84% 524 6.76% 1,308 6.51% Income $35,000 - $49,999 237 20.34% 1,360 17.55% 2,592 12.90% Income $50,000 - $74,999 190 16.36% 1,460 18.84% 3,665 18.24% Income $75,000 - $99,999 151 13.00% 1,113 14.37% 2,679 13.33% Income $100,000 - $124,999 112 9.65% 772 9.97% 2,100 10.45% Income $125,000 - $149,999 81 6.94% 507 6.54% 1,431 7.12% Income $150,000 - $199,999 92 7.92% 647 8.35% 1,857 9.24% Income $200,000 - $249,999 35 3.00% 248 3.20% 868 4.32% Income $250,000 - $499,999 26 2.25% 180 2.32% 961 4.78% Income $500,000+ 5 0.41% 48 0.62% 479 2.38%

2016 EST. AVERAGE HOUSEHOLD INCOME $84,687 $88,022 $107,405

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D E M O G R A P H I C S

Berkeley Capital Advisors, LLC (“BCA”) has been authorized by the owner of the subject property (the “Seller”) to present you with this marketing package. This is a confidential package intended solely for your own limited use and benefit, as a principal, in considering whether you desire to pursue negotiations to acquire the subject property. Your receipt and acceptance of this package serves to acknowledge your agreement to: (1) hold the information and materials contained herein, and the offering they represent, in the strictest of confidence; (2) not disclose, directly or indirectly, the information and materials contained herein, or the offering they rep-resent, to any other person, firm or entity without prior written authorization from BCA or the Seller; (3) not use the information and materials contained herein in any fashion or manner detrimental to the interest of BCA or the Seller; (4) not disturb any tenants in possession of the subject property nor reveal to them the offering this package represents. This marketing package was prepared by BCA and it has been reviewed by representatives of the Seller. The information and materials contained herein are selective and limited in nature, and neither BCA nor the Seller purports this to be an all-inclusive report on the subject property. Within this package, certain leases, documents and other materials are described in summary form. These summa-ries do not purport to be complete nor necessarily accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of the provisions of those documents. Interested and qualified prospective purchasers will be afforded an opportunity to review additional information and to inspect the subject property, and all such prospective purchasers should conduct their own independent due diligence. This package is based in part upon information supplied by the Seller and in part upon information obtained by BCA from sources believed to be reliable. All in-come, expense and/or investment projections contained herein are provided for general reference purposes only, in that they are based on assumptions relating to the general economy, competition and other factors beyond the control of BCA and the Seller, and all such projections are therefore subject to variation. This package shall not be deemed an indication of the state of affairs of the sub-ject property, nor constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of this package.

Neither BCA, the Seller, nor any of their respective officers, employees or agents, has made or does make any representation or warranty, expressed or implied, as to the accuracy or completeness of this package or any of its contents, and no legal commitments or obligations shall arise by reason of this package or its contents. BCA and the Seller expressly reserve the right, at their sole discretion, to alter or amend the terms of this offering, to reject any or all expressions of interest or of-fers to acquire the subject property and/or to terminate discussions with any en-

tity at any time with or without notice. The Seller shall have no legal commitment or obligation to any entity reviewing this package or making an offer to acquire the subject property unless and until a written agreement for such acquisition has been fully executed, delivered and approved by the Seller and any conditions to the Seller’s obligations thereunder have been satisfied or waived.

Parties seeking to act in a third-party brokerage capacity must register their cli-ent(s) with BCA prior to receiving or dispersing any marketing information. BCA will not recognize any third-party brokerage relationships without first receiving and approving such written client registration, nor will BCA or the Seller be ob-ligated for any brokerage claims which may result, regardless of such broker’s involvement in procuring a purchaser for the subject property. This package is the property of BCA. Photocopying, re-typing or other dupli-cation of the information and materials contained herein is expressly prohibited. The information contained within this package and the offering of the subject property may not be announced, posted or otherwise publicized in any electron-ic media (such as, by way of example only, any Internet or “broadcast facsimile” communications).

If, after reviewing this package, you have no further interest in acquiring the sub-ject property at this time, please return this package in its entirety to BCA. Like-wise, if the terms contained in this Confidentiality & Disclaimer section are not acceptable to you, please immediately return this package to BCA.

The terms and conditions stated in this Confidentiality & Disclaimer section apply and relate to all of the sections of this package as if stated independently therein.

Prospective purchasers of the subject property are hereby notified that Berkeley Capital Advisors, and its agents, are acting in the capacity of a “Seller’s Agent” during the course of this offering, and as such are solely representing the inter-ests of the Seller.

DESCRIPTION OF AGENT DUTIES AND RELATIONSHIPSBefore you begin working with any real estate agent, you should know who the agent represents in the transaction. Every listing agreement, buyer agen-cy agreement or other agreement for brokerage services in a real estate sales transaction in North Carolina must contain this “Description of Agent Duties and Relationships” [N.C. Real Estate Commission Rule 21 NCAC 58A.0104(c), eff. 7/1/95]. Real estate agents should carefully review this information with you prior to entering into any agency agreement.

AGENT’S DUTIESWhen you contract with a real estate firm to act as your agent in a real estate transaction, the agent must help you obtain the best price and terms possible, whether you are the buyer or seller.

The agent also owes you the duty to: • Safeguard and account for any money handled for you • Act with reasonable skill, care and diligence • Be loyal and follow reasonable and lawful instructions • Disclose to you any information which might influence your decision to buy or sell

Even if the agent does not represent you, the agent must still be fair and hon-est and disclose to you all “material facts” which the agent knows or reasonably should know. A fact is “material” if it relates to defects or other conditions affect-ing the property, or if it may influence your decision to buy or sell. This does not require a seller’s agent to disclose to the buyer the minimum amount the seller will accept, nor does it require a buyer’s agent to disclose to the seller the maxi-mum price the buyer will pay.

AGENTS WORKING WITH SELLERSA seller can enter into a “listing agreement” with a real estate firm authorizing the firm and its agent(s) to represent the seller in finding a buyer for his property. The listing agreement should state what the seller will pay the listing firm for its ser-vices, and it may require the seller to pay the firm no matter who finds the buyer.

The listing firm may belong to a listing service to expose the seller’s property to other agents who are members of the service. Some of those agents may be working with buyers as buyers’ agents; others will be working with buyers but still representing the sellers’ interests as an agent or “subagent”. When the buyer’s agents and seller’s subagents desire to share in the commission the seller pays to the listing firm, the listing agent may share the commission with the seller’s permission.

AGENTS WORKING WITH BUYERSA buyer may contract with an agent or firm to represent him (as a buyer’s agent), or may work with an agent or firm that represents the seller (as a seller’s agent or subagent). All parties in the transaction should find out at the beginning who the agent working with the buyer represents.

If a buyer wants a buyer’s agent to represent him in purchasing a property, the buyer should enter into a “buyer agency agreement” with the agent. The buy-er agency agreement should state how the buyer’s agent will be paid. Unless some other arrangement is made which is satisfactory to the parties, the buyer’s agent will be paid by the buyer. Many buyer agency agreements will also obli-gate the buyer to pay the buyer’s agent no matter who finds the property that the buyer purchases.

A buyer may decide to work with a firm that is acting as agent for the seller (a seller’s agent or subagent). If a buyer does not enter into a buyer agency agree-ment with the firm that shows him properties, that firm and its agents will show the buyer properties as an agent or subagent working on the seller’s behalf. Such a firm represents the seller (not the buyer) and must disclose that fact to the buyer.

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C O N F I D E N T I A L I T Y

A S H E V I L L E138 Charlotte Street, Suite 220Asheville, North Carolina 28801

704.714.2365

C H A R L O T T E1228 East Morehead Street, Suite 200

Charlotte, North Carolina 28204704.379.1980

N A S H V I L L E1510 16th Avenue, Suite 300Nashville, Tennessee 32712

615.970.6596

B E R K E L E Y C A P. C O M