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• Transactional and Due Diligence Costs <br /> L All transactional and due diligence costs are based on the current year cost <br /> averages for the Grantee ' s region . <br /> ii . Transactional and due diligence costs shall not exceed 10 percent of the <br /> total Local AGZ grant contract award . <br /> • Secured Local Easement Purchase Funds <br /> i . The Grantee is required to submit confirmation of secured local easement <br /> purchase funds . <br /> H . A qualifying local source of easement purchase funds includes public <br /> funds from a county or municipal government or cash funds from a <br /> private, nonprofit conservation organization incorporated in the State of <br /> North Carolina . <br /> ilia Funds from state government, federal government, public community <br /> college or university system, or private or nonprofit funds from <br /> nonqualifying organizations or entities incorporated outside of the State of <br /> North Carolina do not apply. <br /> iv . The confnmiation of secured local easement purchase funds must be in <br /> writing on entity letterhead and may come from any individual that has the <br /> authorization to transfer cash funds to the closing settlement agent that <br /> will close the agricultural conservation easement. <br /> 5 . After final approval of the agricultural conservation easement project, the Grantee agrees to <br /> record the conservation easement within one year. Failure to follow the deliverable timeline is <br /> a breach of the contract, and the Grantee must repay any grant funding received from the <br /> NCDA&CS ADFPTF . If the Grantee fails to record an approved conservation easement <br /> according to the terms and conditions of this contract within the contract period, the Grantee is <br /> responsible for repaying all funds expended . <br /> 6 . The deliverable timeline is arranged by six suites of documents and must be submitted in the <br /> order identified below. The first deliverable required is a signed and notarized Easement <br /> Restriction Acknowledgement Form that must be submitted in the first 60 days after final <br /> approval of the agricultural conservation easement project. Grantees are responsible for securing <br /> qualified staff or subcontractors to complete due diligence items . Grantees will supply the <br /> attached checklists to these individuals and will submit the associated qualification verification <br /> form with the appropriate document suite . All items in the suite MUST be approved by <br /> NCDA& CS and other funding partners before continuing to the next suite. Additionally : <br /> • Due diligence items will be completed and submitted via the secure ShareFile link <br /> supplied to the primary contact by the final date of the reporting period . <br /> • If the items are not submitted at the reported deadline, a due diligence extension <br /> must be filed before the report deadline . Each extension pushes out the due <br /> diligence date in three-month increments . Budget and progress reports are still <br /> required every three months if an extension is requested . <br /> 4 <br />