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20 <br />EXHIBIT C <br />The Property is located adjacent to New Hope Creek in Orange County. The Property <br />contains 1.64 acres, 1.17 acres of which is considered under this Conservation Easement. The <br />Property contains a house located outside the easement area. The Easement Area is bisected <br />by Erwin Road and a bridge running fiom North to South. The easement area is comprised of <br />two areas, Tract A and Tract B. Tract B that lies west of Erwin Road contains no <br />improvements. Tract A the lies east of the Erwin Road is the site of the former Hollow Rock <br />Store. <br />Groundwater contamination resulting from a leaking gasoline underground storage tank is <br />present at this site. The store was demolished and the talks were removed in the late 1990s to <br />allow for the realignment of Erwin Road and the replacement of the bridge over New Hope <br />Creek. A groundwater remediation system is currently in place. Kenan Oil Company has been <br />named the responsible party for this contamination. Encom Associates, the environmental <br />consulting firm responsible for remediation of the site, submitted a request of the <br />Underground Storage Tank (UST) Section of the NC Department of Environment and Natural <br />Resources (DENR) to cease the aeration operation located on the site. Bill Cook requested the <br />cessation of aeration to allow the areas groundwater to restore its natural flow, in order to <br />measure groundwater contaminant levels for the continued presence of pollutants. On June <br />15, 2003, The UST office granted a stay of the active clean -up operations for a period not to <br />exceed 6 months, whereby the check wells would be monitored for contaminants. Bill Cook <br />will retest the groundwater of the site in November 2003. <br />If the wells have contaminant levels exceeding allowable guidelines, the clean-up operation <br />will resume. If the pollutant levels are below the guidelines then the UST office will produce <br />a Notice of no Further Action. This notice allows the responsible party to remove the clean -up <br />apparatus and the wells and requires no further action to remediate the UST site. <br />NC Department of Transportation retains access rights on the Easement Area to maintain the <br />Erwin Road Bridge. <br />One of the purposes for protecting this Property is to provide a 300 -foot water quality buffer <br />on New Hope Creek and to provide pedestrian access reserved for the possible placement of <br />future trails as part of the future New Hope Creek Trail. A proposed trail system will traverse <br />the property and will run along New Hope Creek. This buffer is intended to remain in natural <br />condition. <br />This easement is intended to preserve, entrance, restore, and maintain the natural features and <br />resources of the Property, to provide habitat for native plants and animals, to improve and <br />maintain water quality, and to control runoff of sediment. <br />20 <br />