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9 <br />Breeze Farm Conservation Easement (Phase II) Draft #3 CLEAN <br />The Agricultural Development and Farmland Preservation Trust Fund (the "Fund") of the <br />North Carolina Department of Agriculture and Consumer Services ("NCDACS"), an agency of <br />the State, is authorized by the General Statutes of North Carolina to finance the acquisition of <br />conservation easements. <br />Grantee has received a grant from the Fund identified as Contract #G40100009611ADF <br />("Grant Agreement") for the acquisition of an agricultural conservation easement in <br />consideration of which Grantor has agreed that the Protected Property will be conserved and <br />managed in a manner that will preserve the Conservation Purposes. <br />Grantor, Grantee, and NCDACS intend that the Conservation Values of the Protected <br />Property will be preserved and managed pursuant to the terms and conditions of said Grant <br />Agreement entered into between Grantee and NCDACS dated August 24, 2010, the terms of <br />which are incorporated herein by reference, and which is available for inspection in the offices of <br />Grantee and NCDACS. <br />The United States has authorized the expenditure of federal funds for the purchase of this <br />Conservation Easement. These federal funds are made available by. the Farm and Ranch Lands <br />Protection Program ("FRPP"), administered through the United States Department of <br />Agriculture, Natural Resources Conservation Service, on behalf of the Commodity Credit <br />Corporation. This federal funding entitles the United States to certain rights more particularly <br />described herein. These federal funds are subject to Amendment No. 1 to Cooperative <br />Agreement Number 73-4532-09-001 ("Cooperative Agreement") entered into between the <br />United States Commodity Credit Corporation and Grantee dated July 23, 2010. <br />Grantor and Grantee have the common purpose of protecting the above-described <br />Conservation Values and current condition of the Property and preventing conversion of the <br />Property to nonagricultural uses. Grantor agrees to create and implement a conservation plan <br />(hereinafter the "Conservation Plan") that is developed utilizing the standards and specification <br />of the NRCS .field- office technical guide and 7 CFR part 12, as well as other commonly- <br />recognized best management practices, and is approved by the Orange County Soil and Water <br />Conservation District; <br />Grantee is a body politic existing under Chapter 153A of the North Carolina General <br />Statutes, and is qualified to hold Conservation Easements under the applicable laws of the State <br />of North Carolina; <br />NOW, THEREFORE, for the reasons given and other good and valuable consideration, <br />and in consideration of the mutual covenants, terms, conditions and restrictions contained herein, <br />-the Grantor hereby grants and conveys unto Grantee a Conservation Easement, of the nature and <br />character and to the extent hereinafter set forth, in respect to the Property; <br />forth: <br />The terms, conditions and restrictions of the Conservation Easement are as hereinafter set <br />Page 4 of 20 <br />