2004 NS ERCD - County and OWASA Co-Holding of Conservation Easements Agreement

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AGREEMENT REGARDING CO-HOLDING OF CONSERVATION EASEMENTS THIS AGREEMENT is made by. and between ORANGE COUNTY, a body politic and corporate, a political subdivision of the State of North Carolina, herein "County," and ORANGE WATER AND SEWER AUTHORITY, an appointed public body of North Carolina operating pursuant to Chapter 162A of the North Carolina General Statutes, herein "OWASA." WITNESSETH WHEREAS, ORANGE COUNTY seeks to protect and promote agricultural land uses in Orange County by purchasing Farmland Preservation Easements, and OWASA seeks to protect local water resources by purchasing Watershed Protection Conservation Easements within the watersheds tributary to OWASA's public drinking water storage reservoirs, including the Cane Creek Reservoir and University Lake; and WHEREAS, ORANGE COUNTY and OWASA have found it beneficial to both their conservation programs, and in some instances preferable to interested Orange County landowners, to negotiate to acquire Joint Farmland Preservation and Watershed Protection Conservation Easements on lands being farmed within the said watersheds; and WHEREAS,. ORANGE COUNTY and OWASA desire to enter into this Agreement to clarify and formalize their understanding about how such Joint Conservation Easements will be acquired, fmanced, managed and enforced, and how any reimbursement received from federal, state, or private sources for the costs of such easements will be distributed. NOW, THEREFORE, ORANGE COUNTY and OWASA agree: 1. Orange County and Orange Water and Sewer Authority may undertake and agree to purchase Conservation Easements on lands located within areas both have interests in and desire to protect, including, but not limited to, a portion of two tracts in Bingham Township owned by John D. Lloyd and wife Carolyn Lloyd, being approximately 118 acres identified on County Tax Maps 6.16..24 and 6.17..3, with the County PINS 9820-87-4081 and 9820-78-6646; and a tract owned by William E. McPherson Jr. and William McPherson III, located in Bingham Township, being approximately 46.54 acres identified on the County Tax Map 6.8..3, with the County PIN 9822-44-3024. 2. Such Conservation Easements shall run in favor of both the County and OWASA, and shall include language protective of the interests of the County and OWASA, as finally approved by the Board of County Commissioners and the Board of Directors of OWASA, or their delegates, and providing such Joint Easements maybe enforced by either or both parties. ORANGE COUNTY and OWASA agree to cooperate with each other in activities necessary to assure compliance with, and in enforcement of such Conservation Easements. 3. ORANGE COUNTY and OWASA will share the cost of such easements. With regard to the said Lloyd and McPherson easements, each shall pay one-half the cost of each easement, including costs associated with surveys, appraisals, property reports, title insurance and closing. Each