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007 <br />2012- 08- 14.THOMPSON.Conservation Easement Deed DRAFT <br />The designation Grantor and Grantee as used herein shall include said parties, their heirs, <br />successor and assigns, and shall include singular, plural, masculine, feminine or neuter as <br />required by context. <br />The land to be placed under Conservation Easement has an unencumbered appraised <br />value of $220,000, and an appraised value of $96,000 once encumbered by this <br />Conservation Easement, representing 43.4% value retained by Grantor. Thus, the <br />appraised fair market value of the rights conveyed by this Easement ( "Easement Value ") <br />is $124,000, representing 56.4% of the unencumbered appraised value. <br />Of the $124,000 value of this Conservation Easement, the United States is providing <br />$45,000 toward the purchase of this Easement which amount represents 36.3% of the <br />appraised fair market value of the rights conveyed by this Easement ( "Easement Value ") <br />Said amount represents approximately 20.5% of the value of the property if it were not <br />encumbered by this Conservation Easement. <br />Of the $124,000 value of this Conservation Easement, the State of North Carolina <br />(Agricultural Development and Farmland Preservation Trust Fund) is providing $45,500 <br />toward the purchase of this Conservation Easement, which amount represents 36.7% of <br />the value of this Conservation Easement. Said amount represents approximately 20.7% <br />of the value of the property it were not encumbered by this Conservation Easement. <br />Of the $124,000 value of this Conservation Easement, the County of Orange, North <br />Carolina (Lands Legacy Program) is providing $30,000 toward the purchase of this <br />Easement, which amount represents 24.2% of the Easement Value. Said amount <br />represents approximately 13.6% of the value of the property if it were not encumbered by <br />this Conservation Easement. <br />Grantor is donating 2.8% of the Easement Value. <br />The total cash consideration for purchase of the conservation easement is $120,500. <br />RECITALS <br />WHEREAS, Grantors are the sole owners in fee simple, of a certain farm property <br />identified in Exhibit A located in Cedar Grove Township, Orange County, North Carolina <br />and identified on the plat of property entitled "Conservation Easement Survey, Property <br />Surveyed for Black Family Land Trust, Inc." prepared by Terry Westendorf, which plat is <br />recorded at Plat Book Page , Orange County Registry with said farm property <br />totaling 40.00 acres, more or less, covered by this Easement (the "Protected Property "). <br />WHEREAS, the Protected Property consists primarily of productive agricultural <br />land. The Protected Property also contains within its boundary buildings and /or <br />improvements contained in farmstead areas as shown on Exhibit B attached hereto and <br />incorporated herein. The majority of the soils on the Protected Property have been <br />2 <br />