Agenda - 01-23-2007-6a - Laserfiche WebLink

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Penny Conservation Easement Draft Nov. 27, 2006 BOOO 9 (6) the special North Carolina Conservation Tax Credit Program, which encourages contributions of land that provides habitat for fish and wildlife and other similar land conservation purposes set forth in N.C.G.S. 105-130.34 and 105-151.12 et seq.; and (7) the Clean Water Management Trust Fund, North Carolina General Statute 113-145.1 et seq., which recognizes the importance of protecting riparian buffers in protecting and conserving clean surface water. The natural habitat of the Grantors' Property, and its contribution to the protection of the open space and rural character of northern Chapel Hill Township are collectively referred to as the "conservation values" of the Property. D. The characteristics of the Property, its current use and state of improvement, are described in a report entitled "Baseline Report for the Penny Property," dated (hereafter "the Baseline Report") prepared by Orange County ERCD for the Grantor, of which a summary is attached as Exhibit B to this Conservation Easement. The Grantor worked with the Grantee to ensure that the report is a complete and accurate description of the Property as of the date of this Conservation Easement. It will be used by the Grantors and Grantee to assure that any future changes in the use of the Property will be consistent with the terms of this Conservation Easement. However, the Baseline Report is not intended to preclude the use of other evidence to establish the present condition of the Property if there is a question about its use. E. The Grantors and Grantee have the common purpose of conserving the above-described conservation values of the Property in perpetuity, and the State of North Carolina has authorized the creation of Conservation Easements pursuant to the terms of the North Carolina Conservation and Historic Preservation Agreements Act, N.C. Gen. Stat. § 121-34 et seq., and G.S. § 153A-176 and G.S. § 160A-266 - 279, which provide for the enforceability of restrictions, easements, covenants or conditions "appropriate to retaining land or water areas predominantly in their natural, scenic or open condition or in agricultural, horticultural, fanning, or forest uses," and which provide for tax assessment of lands subject to such agreements "on the basis of the true value of the land and improvements less any reduction in value caused by the agreement"; and the Grantors and Grantee wish to avail themselves of the provisions of those laws. NOW, THEREFORE, the Grantors, for and consideration of the facts recited above and of the mutual ? covenants, terms, conditions and restrictions contained herein, hereby gives, grants and conveys unto the Grantee, its successors and assigns, forever and in perpetuity for the benefit of the people of North Carolina, a Conservation Easement over the Property of the nature and character as follows: Grantors convey to Grantee all development rights that are now or hereafter allocated to, implied, reserved or inherent in the Property, and the parties agree that such rights are terminated