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8 <br /> the scenic resources. The water quality,natural,wildlife habitat, and scenic resources of the Protected Property are <br /> collectively referred to as the"Conservation Values"of the Protected Property. <br /> WHEREAS, the specific Conservation Values of the Protected Property and its current use and state of <br /> improvement are described in a Baseline Documentation Report("Report")prepared by the Grantees with the cooperation <br /> of the Grantors, and acknowledged by all parties to be accurate as of the date of his Easement. This Report may be used <br /> by the Grantees to document any future changes in the use or character of the Protected Property in order to ensure the <br /> terms and condition of the Easement are fulfilled. This Report,however, is not intended to preclude the use of other <br /> evidence to establish the present condition of the Protected Property if there is a controversy over its use. The Grantors <br /> and Grantees have copies of this Report, and said Report will remain on file at the offices of the Grantees. <br /> WHEREAS, the Grantors intend that the Conservation Values of the Protected Property be preserved and <br /> maintained, and further, Grantors intend to convey to the Grantees the right to preserve and protect the Conservation <br /> Values of the Protected Property in perpetuity. <br /> WHEREAS, the consideration paid for this Conservation Easement does not represent fair market value of the <br /> Protected Property and it is the Grantors' intent to make a charitable contribution to Grantees. The fair market value of the <br /> Protected Property shall be determined by one of the valuation methods and rules that affect valuation as set forth in <br /> Treasury Regulation§1.170A-14(h)(3). <br /> WHEREAS, the Conservation Purposes of the Easement are recognized by, and the grant of this Easement will <br /> serve, the following clearly delineated governmental conservation policies: <br /> (1) The Uniform North Carolina Conservation and Historic Preservation Agreements Act,North Carolina <br /> General Statute 121-34 et seq.,which provides for the enforceability of restrictions, easements, covenants or <br /> conditions "appropriate for retaining in land or water areas predominantly in their natural, scenic, or open <br /> condition or in agricultural,horticultural,farming or forest use," and which provides for tax assessment of <br /> lands subject to such agreements"on the basis of the true value of the land and improvement less any <br /> reduction in value caused by the agreement;" <br /> (2) The Land Use Element of the Orange County Comprehensive Plan(adopted November 18, 2008)with its <br /> goal of"Land uses that are appropriate to on-site environmental conditions and features, and that protect <br /> natural resources, cultural resources, and community character." <br /> (3) The Orange County Lands Legacy Action Plan,which was adopted by the Orange County Board of <br /> Commissioners on January 23, 2014, and which recognizes the need to protect riparian buffers in the critical <br /> area of the Upper Eno protected watershed; and <br /> (4) The zoning of the Protected Property by Orange County as Agricultural Residential and Upper Eno River <br /> Protected Watershed Overlay District, the latter to protect the public water supply watershed of Lake Orange; <br /> and <br /> (5) The special use assessment of farm and forestland as set forth in NCGS § 105-277.2 et seq.,which allows for <br /> lower property tax rates for land enrolled in active agricultural and forestry uses. <br /> WHEREAS, the Grantee Orange County is a body politic existing under Chapter 153A of the North Carolina <br /> General Statutes, and the Grantee Eno River Association is a 501(c)(3)non-profit corporation, and each of them is <br /> qualified to hold Easements under the applicable laws of the State of North Carolina and is a qualified organization under <br /> I.R.C. section 170(h). <br /> 2 <br />