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58 <br /> "~ N.C. Department of Agriculture & Consumer Services <br /> N.C. ADFP Trust Fund <br /> Closing Agent Requirements for Easement Programs <br /> 10. Certify that he or she will: <br /> a. Examine the real estate records and certify title for a period of at least sixty years. <br /> b. Immediately prior to closing, examine the real estate records covering the time from the <br /> effective date of the title commitment to the date of closing to determine that no new <br /> encumbrances have been recorded against the subject property,no adverse change in title <br /> has occurred and that there are not intervening matters affecting the title that might result <br /> in a new title exception on the policy.Notify NCADFPTF of any such changes or matters <br /> that are discovered, and delay the closing,the recording of the deed, and the <br /> disbursement of funds pending consultation with NCDAFPTF. <br /> c. Obtain the property executed conservation easement deed from the landowner and any <br /> other required signatory parties. <br /> d. Comply with any listed title commitment requirements. <br /> e. Obtain and record as instructed the properly executed curative documents for any items <br /> required to be removed,released, subordinated,waived, or otherwise handled as required <br /> by the title commitment or proforma policy and closing instructions. <br /> £ Secure the policy of title insurance referred to below. <br /> g. Ensure all taxes,homeowners' assessments, etc. are current as of the date the <br /> conservation easement deed is recorded. <br /> h. Record the conservation easement deed within 2 business days of execution. <br /> i. Complete Internal Review Service(IRS)tax reporting Form 1099 for the full easement <br /> compensation amount, as identified in the conservation easement deed. <br /> 11. Immediately following closing, issue policies of title insurance free and clear of any and all <br /> encumbrances (exceptions)to the title except those that NCADFPTF,have determined to be <br /> acceptable.See attached NCDAFPTF title requirements. <br /> 12. Certify that the following package will be delivered within five (5)business days of receipt of <br /> recorded documents form the local land records office to NCADFPTF: <br /> a. Policy of title insurance (original and one copy) on the appropriate form. <br /> b. Recorder's certified copy of the recorded conservation easement deed and a recording <br /> receipt. <br /> c. Recorder's certified copies of any curative documents,including subordination <br /> agreements. <br /> d. Original and one copy of executed settlement statements. <br /> e. Record of disbursement of funds to the landowner. <br /> 13. Acknowledge receipt and agree to comply with the terms of these requirements by promptly <br /> signing and returning a signed copy of these closing agent requirements to NCADFPTF. <br /> 14. Provide a complete State of North Carolina Substitute W-9 Form and State of North Carolina <br /> Vendor Electronic Payment Form with this document. <br /> a. Per the Office of State Controller,the State of North Carolina Substitute W-9 Form and <br /> State of North Carolina Vendor Electronic Payment Form must be dated within one year <br /> prior to transmitting funds to the closing agent's escrow account. Updated forms must be <br /> submitted before requesting funds. <br />