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ments of he North Carolina General Statute 5105-277.2-.7 con- <br /> cerning t e subject classifications for the years 1974, 1975, 1976 <br /> 1977 and 1978. <br /> 0. Subsequent to the order of the Honorable David <br /> Smith and prior to rehearing in- the North Carolina Property Tax <br /> Commission, the parties hereto have reached a settlement and com- <br /> promise o their dispute as follows : <br /> a. The Respondent has agreed to grant to the Petitioner <br /> the forest land exception for the years 1975, 1976 <br /> and 1977 at a valuation of $200 per acre for 120 of <br /> the 204 acres contained in the Meadowmont FarAs <br /> in orange County, North Carolina; <br /> • The Petitioner has agreed to withdraw his applica- <br /> tion for agricultural and forest .land classification <br /> for the year 1974 and would not be entitled to any <br /> refund for the year 1974; <br /> The Petitioner has agreed to withdraw his request <br /> for the agricultural exception for the years 1975 , <br /> 1976 and 1977; <br /> d. The Petitioner has made application for both the <br /> agricultural and forestry exceptions for 1978 and <br /> said application has been reviewed by the Orange <br /> County Tax Supervisor's office and has been approved <br /> as to both exceptions; <br /> e The parties agree and the Court finds that both the <br /> agricultural and forest lands are currently under a <br /> "sound management" program and thGlt the tax e)'cep- <br /> j tions for agricultural and forest lands will k)e <br />