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a::.:: . <br />1Vlr. Stephen H. Halkiotis, Chair C T N C January 12, 2001 <br />Orange County Board of Commissioners <br />PO Box 8181 <br />Hillsborough, NC 27278 <br />Grant Agreement: Farmland Preservation Grant Award for Agricultural Conservation easement on <br />Walters farm in Orange County - <br />Dear Mr. Halkiotis: <br />Congratulations, you have been awarded a $107,000 grant by the North Carolina Farmland Preservation <br />Program, agrant-in-aid program for agricultural conservation easements administered by the Conservation <br />Trust for the North Carolina Department of Agriculture. This grant covers the following project elements as <br />requested in your application for the Walters farm: <br />Purchase of development rights: <br />Transactional costs: <br />Long-term monitvring/stewardship fiords: <br />$107,000 <br />With this grant you are expected to acquire a permanent agricultural easement for a minimum of 70 acres <br />of the farm. Your grant application will be attached to the contract arid is a part of the grant agreement. <br />Please inform us if any information included in the original application changes. Please forward any <br />supporting materials or documentation that was not included with your application, such as a letter of <br />support from an appropriate unit of local government. <br />For grants to cover transactional costs, please forward copies of the recorded conservation easement and <br />invoices, receipts, statements or bills before we will disburse funds. <br />For grants for long term "stewardship" monitoring and enforcement endowment funds, proof of the <br />existence of the account should be sent in advance of disbursement of grant funds. After disbursement of <br />funds, proof of deposit of fiords into said account should be forwarded to this office. <br />For purchase of development rights there should be a formal closing in an attorney's office. This <br />transaction involves payment for an interest in land so a form 1099 must be filed by the attorney with the <br />IRS and a copy given to the Granter #o be filed with his taxes. Also a HUD-1 settlement statement should <br />be prepared, typically this is done by the sellers attamey. When a closing is held in this manner please <br />notify me with the payment amount due at least seven days prior to closing. CTNC will fissile a pheck to <br />the attorney's trust account prior to closing and the attorney will disbars a pc m ~#ler the <br />~: . <br />easement document has been recorded. All other fees should be taken card p~ ~~ § g , . ~}e's~~pment <br />statement with disbursement to the a ro riate arties i.e. a raiser attorn ~~ ' <br />PP p p (~ PP ey, survey, etc- .After" blo~ing <br />please send a copy of the settlement statement with copies of recording receipts from the register of deeds <br />office to CTNC. When the easement has been processed by the ROD, send a copy of the recorded and <br />executed easement also. In the case where only a portion of the tract is placed under easement, a copy of <br />the boundary survey must be provided. <br />Thank you for your interest and commitment to farmland preservation in North Carolina and <br />congratulations on your successfiil application. <br />Sincerely, <br />Margaret J. Newbold <br />Associate Director <br />CONSERVATI~DN TRUST FOR NORTH CAROLINA <br />on o.... »»-, „ .. _. _.. . ~.. -~... ____ - - <br />