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i <br /> -�.. '.w' y* . , + :U �. a .�.. cc"v' �� �m� w*. e-... �✓ Z .w- a"� �� � J�� �'r�. " ..��xa <br /> the draft conservation easement of the ADFP Trust Fund Model Conservation Easement as described <br /> in this contract and at www . ncadfp , o [g with such additional changes or modifications requested by Seller <br /> or Buyer , and agreed to by both parties with confirmation approval by the North Carolina Department of <br /> Agriculture ADFP Trust Fund and applicable funding conservation partners . <br /> 4 . PURCHASE PRICE . The total purchase price of the Conservation Easement +/- 111 acres shall be <br /> payable in cash at closing , The fair market value of the Conservation Easement shall be determined by <br /> an appraisal performed to the Uniform Standards of Professional Appraisals Practice ( USPAP ) with <br /> confirmation approval by the North Carolina Department of Agriculture ADFP Trust Fund and applicable <br /> funding conservation partners . The Conservation Easement shall be fixed as noted on the attached land <br /> map . <br /> 5 . CLOSING . Closing will take place at the offices of the Buyer's closing attorney or at such other place <br /> as the parties may mutually agree when the conditions for closing set out in this Option have been met . <br /> 6 . TITLE . <br /> ( a ) At closing , the Seller will convey the Conservation Easements to the Buyer. At the time <br /> of conveyance , the Property shall be free and clear of all liens , encumbrances , restrictions , rights or <br /> exceptions except for exceptions of record approved by Buyer. <br /> ( b ) During the period of time between execution of this Option and the recordation of the <br /> Conservation Easements , should Buyer exercise the Option granted herein , Seller shall not encumber the <br /> Property nor shall they grant any interest in the Property to a third party without the prior written consent of <br /> Buyer. <br /> 7 . TITLE DEFECTS . Buyer, at its expense , will have the title to the Properties examined . If for any <br /> reason the Seller cannot deliver the Conservation Easements at closing with title to the Properties in the <br /> condition required by Section 6 of this Option , Buyer may elect to : ( a ) accept the Conservation <br /> Easements with title to the Property as it is ; ( b ) refuse to accept the Conservation Easements in which <br /> case the consideration paid for this Option shall be refunded ; or ( c) allow the Seller additional time to <br /> pursue all reasonable efforts to correct the problem , including bringing any necessary quiet title actions or <br /> other lawsuits . If Buyer elects to refuse to accept the Conservation Easements , or Seller desires to not <br /> pursue reasonable efforts to correct the problem , the rights pursuant to the Option granted herein shall be <br /> null and void and the rights of the parties hereto shall terminate , with neither party hereto having any <br /> further right or obligation one against the other pursuant to the terms hereof, <br /> 8 . DOCUMENTS FOR CLOSING . The Seller shall execute and deliver at closing the Conservation <br /> Easements , any owner' s affidavits or documents required by the Buyer' s title insurance company to <br /> remove the standard title policy exceptions , and any other documents necessary to close in accordance <br /> with the terms of this Option , <br /> 9 . ACCESS . The Buyer' s obligations under this Option ( if exercised ) are contingent upon the Property <br /> having recorded , appurtenant, insurable legal access to a public road sufficient to allow the Buyer access <br /> to the Property to monitor the Conservation Easements . <br /> 10 , CONDITION OF PROPERTY , During the period of time between execution of this Option and <br /> exercise of this Option , Seller shall do nothing to or with regard to the Property that shall damage or <br /> degrade the property , significantly alter its present appearance and value , or otherwise violate the terms <br /> of the proposed Conservation Easements . In the event of any adverse change in the condition of the <br /> Property , the Buyer may refuse to accept the Conservation Easements , in which case the consideration <br /> paid for this Option shall be refunded . <br /> 11 . ENCUMBRANCES . Seller shall not during the period of time this Option remains in effect sell or <br /> contract to sell the Property or do any other act which might hinder the property ' s ability to enter the <br /> Conservation Easements , <br /> Pie 2 � 5 <br /> Revised 1 /23 /2019 <br /> NCDA & CS ADFPTF <br />