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Approved 6/2022 5 <br />2. The additional acres are parcels or areas within the original parcels <br />under the same ownership as the original parcels, are in working <br />lands use, and are within, adjacent, or contiguous to the original <br />parcels. <br />ii. If the variance is greater than 5% of the contracted acres and is less than <br />the acres listed above, the grant funds for conservation easement purchase <br />will be reduced proportionally based on the new acreage. <br />f. The division of the funds used to purchase the agricultural easement from <br />matching resources and Agency resources must be maintained, as noted in the <br />grant contract budget. The Grantee may request the Agency for an exception to <br />the division of funds if the Agency is the only entity providing easement funding. <br />g. For the Standard Conservation Easement Appraisal Program, the Agency <br />easement purchase shall not exceed 50% of the appraised easement value. If the <br />Agency is the only grantor of funds used to secure the conservation easement <br />recording, the Grantee may request in writing with sound reasoning for the <br />Agency payment to exceed 50% of the appraised easement purchase value. <br />h. For the Present-Use Value (PUV) Conservation Easement Program, the Agency <br />easement purchase shall not exceed 75% of the easement value as determined by <br />the Conservation Easement Value Payout formula. <br />i. At no time shall the total payment of grant funding exceed the grant contract <br />value. <br />j. All Grantee payments must have receipts of expenditures to verify the use of <br />funding per contracted purposes. <br />k. The Agency shall make the payment within 60 days of any grant reimbursement <br />request by the Grantee with approved documentation. <br /> <br />6. The Grantee will use the selected conservation easement purchase funding program: <br /> <br />☒ Standard Conservation Easement Appraisal Program: <br /> <br />The Certified Development Rights Appraisal must be completed per the ADFPTF <br />Conservation Easement Appraisal Requirements and Checklist based on the funding <br />sources for the easement purchase. Final conservation easement values must be <br />determined by a Certified Development Rights Appraisal dated within the contract <br />period and dated less than 365 days prior to closing. Supplemental appraisals, updated <br />opinion letters, or reaffirmation letters by the appraiser for the original appraisal are <br />acceptable if a closing occurs 365 days after issuance of the Certified Development <br />Rights Appraisal, provided the appraiser certifies the land value with an updated <br />effective date of valuation. <br /> <br /> <br /> <br />DocuSign Envelope ID: 480AFBD4-654C-48FA-9CB8-F7C8D7E98DB2