2003 NS ERCD - - Trinity School of Durham and Chapel Hill Acceptance of Conservation Easement Assignment from the Triangle Land Conservancy and Chapel Hill

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7 Natural Resources, the Grurtor and Fluid and according to Land Use Element of the Orange County Comprehensive Plan, adopted September 2, 1981, ("Master Plan") and amendments thereto. The Parties further acknowledge and agree that Grantee will accept this Conservation Easement; that the State of North Carolina will be the ultimate Grantee and Holder of this Conservation Easement; and, that Grantor has received consideration for granting this easement to the Grantee and restricting the uses of the Easement Area. . I. The Parties acknowledge that the characteristics of the Easement Area, its current use and state of improvement are described in Exhibit C, which is the appropriate basis for monitoring compliance with the objectives of preserving the conservation and water quality values; and that the Exlribit C is not intended to preclude the use of other evidence (e.g. surveys, appraisals) to establish the present condition of the Easement Area if there is a controversy over its use. NOW, THEREFORE, in consideration of the premises and the mutual benefits recited herein, together with other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto, the Grantor hereby unconditionally and inevocably gives, grants and conveys forever and in perpetuity to the Grantee, its successors and assigns, and the Grantee hereby accepts, a Deed of Conservation Easement of the nature and character and to the extent hereinafter set forth in, over, through and across the Easement Area, together with the right to preserve and protect the conservation values thereof as described in the Recitals herehr. The purposes of tlris Conservation Easement are to provide environmental protection for surface waters and to protect the wildlife and natural heritage values and it shall be so held, maintained, and used therefore. It is the further propose of this Conservation Easement to prevent any use of the Easement Area that will significantly impair or interfere with the preservation of said conservation values. Grantor intends that this Conservation Easement will restrict use of the Easement Area to such activities as are consistent with the conservation values described in the Recitals herein. ARTICLE L DURATION OF EASEMENT Tlus Conservation Easement shall be perpetual. It is an easemerrt iu gross, runs with the land, and is enforceable by Grantee against Grarrtor, its representatives, successors, assigns, lessees, agents and licensees. ARTICLE II. RIGHTS RESERVED TO GRANTOR Grantor reserves certain rights accming from fee simple ownership of the Easement Area, including the right to engage in or permit others to engage in uses of the Easement Area that are not inconsistent with the purpose(s) of this Conservation Easement. All rights reserved by Grantors are reserved for Grantors, their representatives, successors, and assigns, and are considered to be consistent with the conservation purposes of this Conservation Easement. The following rigtrts are expressly reserved: