Agenda - 05-16-2017 - 4-b - Resolution of Approval – Conservation Easement for Lick Creek Property; and Approval of Budget Amendment #9-A

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9 NOW, THEREFORE, for the reasons given and other good and valuable consideration and in consideration of their mutual covenants, terms, conditions and restrictions contained herein,the Grantors hereby voluntarily grant and convey to the Grantees, and the Grantees hereby voluntarily accept, a perpetual Conservation Easement in the Protected Property,which Easement is an immediately vested interest in real property of the nature and character described herein. Grantors promise that they will not perform,nor knowingly allow others to perform, any act on or affecting the Protected Property that is inconsistent with the covenants contained herein. Grantors authorize the Grantees to enforce these Covenants in the manner described below. ARTICLE I. GENERAL 1.1. Statement of Purpose. The purposes of this Conservation Easement are to ensure that the Protected Property will be retained forever predominantly in its natural, scenic,forested, and open space condition; to protect native plants, animals,plant communities, and water quality,while allowing traditional uses of the Protected Property that are compatible with and not destructive of the conservation values of the property such as forest management,hunting, and other similar recreational use; and to prevent any use of the Protected Property that will significantly impair or interfere with conservation values or interests of the Protected Property. The purpose is also to allow long-term responsible management of forest resources in a manner that does not compromise water quality,wildlife habitat, or unique plant communities. 1.2. Perpetual Duration. This Conservation Easement over the Protected Property as further described in Exhibit A, shall be perpetual. It is an easement in gross,runs with the land and is enforceable by Grantees against Grantors as provided herein, and against Grantors' representatives, successors, assigns, leases, agents and licensees. 1.3. Extinguishment of Development Rights. Except as otherwise reserved to the Grantors in this Easement, the parties agree that all development rights appurtenant to the Protected Property are hereby released, terminated and extinguished, and may not be used on or transferred to any portion of the Protected Property as it now or hereafter may be bounded or described, or used or transferred to any other property adjacent or otherwise,nor used for the purpose of calculating permissible lot yield of the Protected Property or any other property by anyone including the Grantors and Grantees. 1.4. Compliance with other Regulatory Requirements. The Grantors are responsible for complying with any and all additional permits or regulation to use or develop the Protected Property under the terms of this Easement, including Orange County, State of North Carolina or Federal requirements,regardless of any reserved rights or permissions contained in this Easement Document. ARTICLE II.RETAINED RIGHTS AND RESTRICTIONS Any activity on, or use of the Protected Property inconsistent with the purposes of this Conservation Easement is prohibited. The Protected Property shall be maintained in its natural, scenic and open condition and restricted from any development that would significantly impair or interfere with the conservation values of the Protected Property. Without limiting the generality of the foregoing, the following is a listing of activities and uses which are expressly prohibited or which are expressly allowed. The Grantors and Grantees have determined that the allowed activities do not impair the conservation values of the Protected Property. Additional retained rights of the Grantors are set forth in Article III below. 2.1 Subdivision. The Protected Property may not be divided, subdivided or partitioned,nor conveyed except in its current configuration as an entity. 3