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N.C. Department of Agriculture & Consumer Services <br />N.C. ADFP Trust Fund <br />Closing Agent Requirements for Easement Programs <br /> <br />Approved 11/2021 <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 />f. 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 /> <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 /> <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 /> <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 /> <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 />DocuSign Envelope ID: 480AFBD4-654C-48FA-9CB8-F7C8D7E98DB2