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.. ~~F /~3-0~ <br />~. <br />3 <br />• <br />This instrument prepared by and return to: Eno River Association, 4419 Guess Road, Durham, NC 27712 <br />Telephone: (919) 620-9099; Facsimile: (919) 477-0448 <br />NORTH CAROLINA <br />ORANGE COUNTY <br />AGREEMENT <br />THIS AGREEMENT is made and entered into as of this the sue` day of December, <br />2007, by and between the ASSOCIATION FOR THE PRESERVATION OF THE ENO <br />• RIVER VALLEY, INC., hereinafter referred to as "the Association," and ORANGE <br />COUNTY, NORTH CAROLINA, hereinafter referred to as "the County." <br />RECITALS <br />The Association has contracted to purchase a tract of land located in Cheeks Township at <br />the confluence of the East and West Forks of the Eno River consisting of approximately 110 <br />acres of mixed wetlands, woodlands, and fields, which it intends to use in perpetuity for <br />conservation and education purposes, including the preservation of native plant and animal <br />species and habitats, water quality protection, and low impact recreation such as hiking, bird <br />watching and-other recreation and education uses not inconsistent with protection of the <br />conservation values of the property. Reference is hereby made to that deed recorded in Book <br />1796, Page 466 of the Orange County Registry for a more particular description of the property, <br />Orange County PIN 9856-36-2947. Closing on the purchase of the property by the Association is <br />anticipated to occur prior to December 31, 2007. <br />The Association and the County jointly submitted an application to the Clean Water <br />Management Trust Fund for grant funding to assist in purchasing the property, and have been <br />awarded grant funds in the amount of $685,000.00. In exchange for receipt of these grant funds <br />the Association will convey to the State of North Carolina a Conservation Easement on those <br />portions of the property lying within 300 feet of all streams located on or adjacent to the <br />property. Transfer of funds from the Clean Water Management Trust Fund to the Association <br />and recordation of the Conservation Easement to the State is anticipated to occur in mid to late <br />2008. <br />Page 1 of 3 <br />