Orange County NC Website
Browse       Search
THIS OPTION TO PURCHASE A CONSERVATION EASEMENT (" Option " ) is made this <br /> day of December, 2021 by and between Peggy Fuller, ( " Seller" ) ; and the Orange County (" Buyer" ) . <br /> RECITALS <br /> A . For the purposes of notice , the addresses of the parties to this Option are : <br /> SELLER : BUYER : <br /> 1914 E 8TH S P . O . Box 8181 <br /> Charlotte , NC 28204 Hillsborough , NC 27278 <br /> B . Property legal description as described at Register of Deeds ( County Deed Book and Page) and as <br /> shown on the proposed conservation easement map on page 6 of this Option . <br /> Parcel Identification Number { <br /> County Deed Book and Page <br /> _ ( PIN ) <br /> Orange Book 2312 , , Page 380 9837962756 <br /> i t <br /> C . It is the intention of both the Seller and Buyer that 111 acres of the Property is preserved with <br /> conservation easements and maintained for the preservation of use as crop , horticulture or forestry as <br /> described in N . C . General Statue 106 Article 61 . <br /> D . Seller acknowledges that Buyer enters into this Option in its own right . <br /> E . Buyer is a conservation organization having among its purposes the acquisition on behalf of the public <br /> of open space , scenic , and recreational lands . <br /> F . Seller acknowledges that Buyer enters into this Option Agreement as an initial step in the purchase of <br /> a conservation easement on +/- 111 acres of the Property . The value of the conservation easement shall <br /> be determined by an appraisal performed to the Uniform Standards of Professional Appraisals Practice <br /> ( USPAP ) with confirmation approval by the North Carolina Department of Agriculture ADFP Trust Fund <br /> and other funding partner agencies such as USDA or military . <br /> G . By entering into this Option , Seller acknowledges that it will obtain independent tax counsel and be <br /> solely responsible for compliance with any requirement of the Code to substantiate the value of the <br /> conservation easement if claiming an IRS charitable contribution . <br /> NOW, THEREFORE, for the reasons given and other good and valuable consideration and in <br /> consideration of their mutual covenants , terms , conditions and restrictions contained herein , the receipt <br /> and legal sufficiency of which are hereby acknowledged , the Seller hereby voluntarily grants and conveys <br /> to the Buyer, and the Buyer hereby voluntarily accepts the exclusive and irrevocable option to Purchase a <br /> Conservation Easement on +/- 111 acres on the Property . <br /> This option is given on the following terms and conditions , <br /> 1 , OPTION PERIOD . This option shall remain in effect through four years from the date of the signatures <br /> in this contract. <br /> 2 . EXERCISE . All rights granted by this Option shall be exercised upon posting , by certified mail , a <br /> written notice to the Seller at the first address stated in the Recitals above . Exercise shall be deemed <br /> timely if such written notice is mailed on or before the date set forth in Paragraph 1 above . <br /> 3 . CONSERVATION EASEMENTS , The Conservation Easement on the Property to be conveyed by <br /> Seller to Buyer, should Buyer exercise the Option granted herein , shall be in a form similar to the form of <br /> P a o c 1 ( 5 <br /> Revised 1 /23 /2019 <br /> NCDA &CS ADFPTF <br />