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23 <br />by a committee consisting of the NRCS District Conservationist, <br />the County Extension Director, the County Forester, the Rural <br />Development Manager, and five residents of the county selected <br />by the Board of Supervisors, who derive a majority of their income <br />from agricultural production. The Board of Supervisors will call <br />the meeting of this committee and document the findings. The <br />cash rent value factor will include the lease price per acre for the <br />first year of the lease and the formula for annual payments for the <br />term of the lease. <br />2. Upon calculating the lease value, the Board of Supervisors will <br />present the value to the landowner by certified mail. The land- <br />owner will have thirty (30) days from receipt of the value to <br />submit an offer to lease his/her development rights. Failure to <br />respond in writing within the required time may constitute waiver <br />of the opportunity, in the sole discretion of the Board of <br />Supervisors. Upon receiving an offer to lease, a representative of <br />the Board of Supervisors will meet with the landowner and accept, <br />reject, or negotiate a compromise price with the landowner. If an <br />agreement is reached, a contract to convey will be signed promptly <br />by the landowner and the Board of supervisors on behalf of the <br />county. <br />At county expense, the Board of Supervisors will cause any <br />necessary title examinations to be performed and all documen- <br />tation to be prepared. If the property in question is subject to <br />mortgage(s) or lien(s), a subordination agreement or waiver must <br />be secured from the mortgage or lien holder. Closing will not take <br />place until this requirement is met. The Board of Supervisors will <br />assist in securing this agreement with the mortgage or lien holder, <br />at the request of the landowner. <br />4. Upon preparation of appropriate legal documents covering titles, <br />deeds, surveys, and subordination agreements, the closing will be <br />scheduled by the Board of Supervisors. Prior to closing, all legal <br />documents will be reviewed for verification and accuracy. At <br />closing, the owner will execute appropriate full warranty <br />documents conveying development rights to the county in <br />perpetuity. After proper recordation of necessary instruments, the <br />landowner will be presented with a check. The county will bear all <br />closing and related costs. The Board of Supervisors will securely <br />store all pertinent records, including deeds. <br />8 <br />