S Conservation Easement - Fickle Creek Farm

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20070411000124050 DEED Bk:RB4236 Pg:447 04!11!2007 04:34:35PM 3!19 (4) The Uniform North Carolina Conservation and Historic Preservation Agreements Act, North Carolina General Statute 121-34 et seq., which provides that conservation agreements are "interests in land" which maybe effective "perpetually;" which provides for the enforceability of restrictions, easements, covenants, or conditions "...appropriate to retaining land or water azeas predominantly in their natural, scenic, or open condition or in agricultural, horticultural, farming, or forest use...;" and which provides for tax assessment of lands subject to such agreements "on the basis of the true value of the land and improvement less any reduction in value caused by the agreement;" (5) The establishment of the North Carolina Farmland Preservation Trust Fund established in 1986 (N.C.G.S. 106-744(c)) to preserve important farmland in North Cazolina; (6) The special use value assessment of farm and forestland as set forth in North Cazolina. General Statute 105-277.2 et seq.; and (7) The zoning of the Property by Orange County as Agricultural Residential. Grantors and Grantee have the common purpose of protecting the above-described conservation values and current condition of the Property and preventing conversion of the Property to nonagricultural uses. Grantors agree to create and implement a conservation plan • (hereinafter the "Conservation Plan's that is developed utilizing the standards and specifications of the NRCS field ofEce technical guide and 7 CFR part 12, as well as other commonly- recogrrized best management practices, and is approved by the Orange County Soil and Water Conservation District; The Grantee is a body politic existing under Chapter 153A of the North Cazolina General Statutes, and is qualified to hold Conservation Easements under the applicable laws of the State of North Carolina; NOW, THEREFORE, for the reasons given and other good and valuable consideration, and in consideration of the mutual covenants, terms, conditions and restrictions contained herein, the Grantors hereby grant and convey unto Grantee a Conservation Easement, of the nature and character and to the extent hereinafter set forth, in respect to the Property as described in Exhibit A; forth: The terms, conditions and restrictions of the Conservation Easement are as hereinafter set 1. Grant of Agricultural Conservation Easement; Extinguishment of Development Rights Grantors hereby voluntarily grant and convey to the Grantee, and the Grantee hereby • voluntarily accepts, a perpetual Agricultural Conservation Easement in the Property, which easement is an immediately vested interest in real property the nature and character described Page 3 of 18