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8 <br />or forest use...;" and which provides for tax assessment of lands subject to such agreements "on <br />the basis of the true value of the land and improvement less any reduction in value caused by the <br />agreement;" <br />4) The North Carolina Conservation Tax Credit Program,North Carolina General <br />Statute 105-130.34 and 105-151.12 et seq., which provides for state income tax credits for <br />donations of land that are useful for fish and wildlife conservation and other similar land <br />conservation purposes; Include if there is donation or partial donation involved] <br />4) The establishment of the North Carolina Agricultural Development and Farmland <br />Preservation Trust Fund established in 1986 (N.C.G.S. 106-744(c) as amended)to preserve <br />important farmland in North Carolina; <br />5) The special use value assessment of farm and forestland as set forth in North Carolina <br />General Statute 105-277.2 et seq.; and <br />6) The zoning of the Property by Orange County as Rural Buffer. <br />Grantors and Grantee have the common purpose of protecting the above-described <br />conservation values and current condition of the Property and preventing conversion of the <br />Property to nonagricultural uses and Grantors agree to create and implement a conservation plan <br />hereinafter the "Conservation Plan") that is developed utilizing the standards and specification <br />of the NRCS field office technical guide and 7 CFR part 12, or equivalent standard, and is <br />approved by the Orange County Soil and Water Conservation District; <br />The Grantee is a body politic existing under Chapter 153A of the North Carolina General <br />Statutes, and is qualified to hold Conservation Easements under the applicable laws of the State <br />of North Carolina; <br />NOW, THEREFORE, for the reasons given and other good and valuable consideration <br />and in consideration of the mutual covenants, terms, conditions and restrictions contained herein, <br />the Grantors hereby grant and convey unto Grantee a Conservation Easement, of the nature and <br />character and to the extent hereinafter set forth, in respect to the Property; <br />The terms, conditions and restrictions of the Conservation Easement are as hereinafter set <br />forth: <br />1.Grant of Agricultural Conservation Easement; Extinguishment of Development <br />Rights <br />Grantors hereby voluntarily grant and convey to the Grantee, and the Grantee hereby <br />voluntarily accepts, a perpetual Agricultural Conservation Easement in the Property, which <br />easement is an immediately vested interest in real property the nature and character described <br />herein. Grantors promise that they will not perform, nor knowingly allow others to perform, any <br />act on or affecting the Property that is inconsistent with the covenants herein. Grantors authorize <br />the Grantee to enforce these covenants in the manner described below. <br />Page 3 of 21 <br />Docusign Envelope ID: F68C289B-897D-4E9C-8B77-C5477012992E