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Prepared by: D. Michael Parker <br /> Return to: Joseph Phelps, 2504 Hardwood Drive, Hillsborough, NC <br /> 27278 <br /> PIN # 9847-24-2967 <br /> TAX MAP # 2 .40 . . 15 <br /> CONSERVATION EASEMENT <br /> This CONSERVATION EASEMENT made this day of , <br /> 2002 by and between JOSEPH PHELPS (UNMARRIED) , 2504 Hardwood Drive, <br /> Hillsborough, NC 27278, and OLD MILL, INC. , parties of the first <br /> part, (hereinafter referred to as the "Grantors") and ORANGE <br /> COUNTY, party of the second part, (hereinafter referred to as the <br /> "Grantee") . <br /> WITNESSETH: <br /> WHEREAS, Grantors are the current owners in fee simple of <br /> certain real property more particularly described in Exhibit A <br /> attached, (the "Protected Property") ; <br /> WHEREAS, Grantee is a North Carolina non-profit unincorporated <br /> association, consisting of all of the owner of the lots within the <br /> Bricewood Acres subdivision as shown on plat recorded in plat book <br /> page of the Orange County Registry; <br /> WHEREAS, the Protected Property is a "stream buffer" as the <br /> same is defined pursuant to the Orange County (North Carolina) <br /> Zoning Ordinance; and <br /> WHEREAS, Grantors and Grantee have the common purpose of <br /> conserving the Protected Property in accordance with the provisions <br /> of the Orange County Zoning Ordinance for stream buffers in <br /> perpetuity, and the State of North Carolina has authorized the <br /> creation of Conservation Easements pursuant to North Carolina <br /> General Statutes §121-34 et sea; and <br /> WHEREAS, Grantors intend, as owner of the Protected Property, <br /> to convey to Grantee the right to preserve and protect the <br /> Protected Property in accordance with the provisions of the Orange <br /> County Zoning Ordinance for stream buffers in perpetuity; and <br /> WHEREAS, Grantee intends to accept this grant to honor the <br /> intentions of Grantor stated herein and to preserve and protect the <br /> Protected Property in accordance with the provisions of the Orange <br /> County Zoning Ordinance for stream buffers in perpetuity for the <br /> benefit of this generation and the generations to come. <br /> NOW, THEREFORE, Grantors, for and in consideration of the <br /> facts recited above and of the mutual covenants, terms, conditions <br /> and restrictions contained herein and as an absolute and <br /> unconditional gift, hereby give, grant, bargain, sell and convey <br /> unto Grantee a Conservation Easement in perpetuity over the <br /> Protected Property of the nature and character as follows : <br />