Item 8-c - Resolution of Approval – Conservation Easement on Walker Farm and Approval of Budget Amendment #4-A

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10 (10) The Orange County Agricultural Development and Farmland Protection Plan, adopted November 17, 2009, which recommends that the County acquire agricultural conservation easements to help protect farmland as a valuable natural resource; and (11) The zoning of the Property by Orange County as Agricultural Residential and Little River Protected Watershed, the latter to help protect the public water supply watershed of Little River Reservoir. Grantor and Grantees have the common purpose of protecting the above-described Conservation Values and current condition of the Protected Property and preventing conversion of the Protected Property to nonagricultural uses. Grantor agrees to create and implement a conservation plan (hereinafter the "Conservation Plan") that is developed utilizing the standards and specification of the NRCS field office technical guide and 7 CFR part 12, as well as other commonly-recognized best management practices, and is approved by the Orange County Soil and Water Conservation District; Orange County is a body politic existing under Chapter 153A of the North Carolina General Statutes, and is qualified to hold conservation easements under the applicable laws of the State of North Carolina; NOW, THEREFORE, for the reasons given and other good and valuable consideration, and in consideration of the mutual covenants, terms, conditions and restrictions contained herein, and as an absolute and unconditional gift, the Grantor hereby grants and convey unto Grantees, their successors and assigns, forever and in perpetuity for the benefit of the people of North Carolina, a Conservation Easement of the nature and character and to the extent hereinafter set forth, in respect to the Protected Property; The terms, conditions and restrictions of the Conservation Easement are as hereinafter set forth: 1. Grant of Conservation Easement; Extinguishment of Development Rights Grantor hereby voluntarily grants and convey to the Grantees, and the Grantees hereby voluntarily accept, a perpetual Conservation Easement on the Protected Property, which easement is an immediately vested interest in real property the nature and character described herein. Grantor promises 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 herein. Grantor authorizes the Grantees to enforce these covenants in the manner described below. Grantor hereby voluntarily grants and convey to the Grantees all development rights for the Protected Property, except as otherwise reserved and provided by the terms of this Conservation Easement, that are now or hereafter inherent in the Protected Property. The parties agree that such development rights are now terminated and extinguished, and may not be used on 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 or any entity, including the Grantees. Page 4 of 19