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AGREEMENT REGARDING CO-HOLDING OF <br />CONSERVATION EASEMENTS <br />THIS AGREEMENT is made by and between ORANGE COUNTY, a body politic and corporate, a <br />political subdivision of the State of North Carolina, herein "County," and ORANGE WATER AND <br />SEWER AUTHORITY, an appointed public body of North Carolina operating pursuant to Chapter <br />162A of the North Carolina General Statutes, herein "OWASA." <br />WITNESSETA <br />WHEREAS, ORANGE COUNTY seeks to protect and promote agricultural land uses in <br />Orange County by purchasing Farmland Preservation Easements, and OWASA seeks to protect local <br />water resources by purchasing Watershed Protection Conservation Easements within the watersheds <br />tributary to OWASA's public drinking water storage reservoirs, including the Cane Creek Reservoir <br />and University Lake; and <br />WHEREAS, ORANGE COUNTY and OWASA have found it beneficial to both their <br />conservation programs, and in some instances preferable to interested Orange County landowners, to <br />negotiate to acquire Joint Fazmland Preservation and Watershed Protection Conservation Easements on <br />lands being farmed within the said watersheds; and <br />WHEREAS, ORANGE COUNTY and OWASA desire to enter into this Agreement to clarify <br />and formalize their understanding about how such Joint Conservation Easements will be acquired, <br />financed, managed and enforced, and how any reimbursement received from federal, state, or private <br />sources for the costs of such easements will be distributed. <br />NOW, THEREFORE, ORANGE COUNTY and OWASA agree: <br />1. Orange County and Orange Water and Sewer Authority may undertake and agree to <br />purchase Conservation Easements on lands located within areas both have interests in and desire to <br />protect, including, but not limited to, a portion of two tracts in Bingham Township owned by John D, <br />Lloyd and wife Carolyn Lloyd, being approximately 118 acres identified on County Tax Maps 6.16.,24 <br />and 6.17...3, with the County PINS 9820-87-4081 and 9820-78-6646; and a tract owned by William E. <br />McPherson Jr, and William McPherson III, located in Bingham Township, being approximately 46..54 <br />acres identified on the County Tax Map 6..8...3, with the County PIN 9822-44-3024. <br />2. Such Conservation Easements shall run in favor of both the County and OWASA, and <br />shall include language protective of the interests of the County and OWASA, as finally approved by <br />the Board of County Connnissioners and the Board of Directors of OWASA, or their delegates, and <br />providing such .Joint Easements maybe enforced by either or both parties. ORANGE C_.OUNTY and <br />OWASA agree to cooperate with each other in activities necessary to assure compliance with, and in <br />enforcement of such Conservation Easements. <br />3. ORANGE COUNTY and OWASA will share the cost of such easements. With regard <br />to the said Lloyd and McPherson easements, each shall pay one-half the cost of each easement, <br />including costs associated with surveys, appraisals, property reports, title insurance and closing.. Each <br />