Agenda - 12-01-2003-5a - Laserfiche WebLink

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Draft 12/1/0.3 (clean) 7 (5) The North Carolina Conservation Tax Credit Program, North Carolina General Statute 105-130.34 and 105-151.12 et seq„ which provides for state income tax credits for donations of land that are useful for fish and wildlife conservation and other similar land conservation purposes; (6) The establishment of the North Carolina Farmland Preservation Trust Fund established in 1986 (N.C.G.S. 106-744(c)) to preserve important farmland in North Carolina; (7) The special use assessment of farm and forestland as set forth in North Carolina General Statute 105-277..2 et seq.; and (8) The zoning of the Property by Orange County as Agricultural Residential. Grantors and Grantee have the common purpose of protecting the above-described conservation values and current condition of the Property and preventing conversion of the Property to nonagricultural uses and 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, and is approved by the local Soil and Water Conservation District; The Grantee is a body politic existing under Chapter 153A of the North Carolina General Statutes, and is qualified to hold Easements under the applicable laws of the State of North Carolina; NOW, THEREFORE, for the reasons given, and in consideration of their mutual covenants, terms, conditions and restrictions contained herein, the parties agree as follows, Grant of Agricrtural Easement Grantors hereby voluntarily grant and convey to the Grantee, and the Grantee hereby voluntarily accepts, a perpetual Agricultural Conservation Easement in the Property, which easement is, an immediately vested interest in real property the nature and character described herein, Grantors promise that they will not perform, nor knowingly allow others to perform, any act on or affecting the Property that is inconsistent with the covenants herein. Grantors authorize the Grantee to enforce these covenants in the manner described below, Grantors hereby voluntarily grant and convey to the Grantee all development rights for the Property, except as otherwise reserved and provided by the terms of this Easement, that are now or hereafter inherent in the Property,. The parties agree that such development rights are terminated and extinguished, and may not be used on or transmitted to any portion of'the Property, as it now or hereafter may be bounded or described, or transmitted, transferred or otherwise conveyed to any other property,