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Draft 25 <br />the use of and enjoy all the benefits derived from and arising out of this Conservation Easement, <br />except for the following: <br />(a) all enforceable easements and rights of way currently depicted in the Orange <br />County Registry; and <br />(b) Public Road rights of way affecting the Property; and <br />(c) Riparian rights affecting the Property; and <br />(d) The lien on the Property securing a $600,000.00 private placement financing of <br />the purchase of the Property in an amount not exceeding $600,000.00. <br />(e) A conservation easement granted to the State of North Carolina in consideration <br />of the receipt by Grantor of a Clean Water grant from the State of North Carolina. <br />14. NOTICES. Any notices required by this Conservation Easement shall be in <br />writing and shall be personally delivered or sent by first class mail, to Grantor and Grantee, <br />respectively, at the following addresses, unless a party has been notified by the other of a change <br />of address. <br />To the Grantor: To the Grantee: <br />Town Manager Orange County Environment and <br />Town of Carrboro Resource Conservation Department <br />301 W. Main Street Orange County, North Carolina <br />Carrboro, NC 27510 P.O, Box 8181 <br />Hillsborough, NC 27278 <br />15. ENVIRONMENTAL CONDITION. The Grantor warrants that it has no actual <br />knowledge of a release or threatened release of hazardous substances or wastes on the Easement <br />Area, as such substances and wastes are defined by applicable federal and state law, and hereby <br />promises to defend and indemnify Grantee against all litigation, claims, demands, penalties and <br />damages, including reasonable attorneys' fees, arising from or connected with any release of <br />hazardous waste caused by the intentional or negligent act of the Grantor or violation of federal, <br />state or local environmental laws. Without limiting the generality of the foregoing, nothing in <br />this Easement shall be construed as giving rise to any right or ability in Grantee, nor shall <br />Grantee have any right or ability, to exercise physical or managerial control over the day-to-day <br />operations of the Property, or otherwise to become an operator with respect to the Property <br />within the meaning of The Comprehensive Envirorunental Response, Compensation and Liability <br />Act of 1980, as amended, <br />