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<br /> <br /> <br />Page 4 of 21 <br /> <br />1. Grant of Agricultural Conservation Easement; Extinguishment of Development <br />Rights <br /> <br />Grantor hereby voluntarily sells, grants and conveys to the Grantee, and the Grantee <br />hereby voluntarily accepts, a perpetual Agricultural Conservation Easement in the Property, <br />which easement is an immediately vested interest in real property the nature and character <br />described herein. Grantor promises and agrees that it will not perform, nor knowingly allow <br />others to perform, any act on or affecting the Property that is inconsistent with the terms and <br />covenants herein. Grantor authorizes the Grantee to enforce these terms and covenants in the <br />manner described below. <br /> <br />Grantor hereby voluntarily sells, grants and conveys to the Grantee all development <br />rights for the Property, except as otherwise reserved and provided by the terms of this <br />Conservation Easement, that are now or hereafter inherent in the Property. The parties agree that <br />such development rights are terminated and extinguished, and may not be used on or transmitted <br />to any portion of the Property, as it now or hereafter may be bounded or described, or used or <br />transferred to any other property adjacent or otherwise, nor used for the purpose of calculating <br />permissible lot yield of the Property or any other property. It is the intent of this Conservation <br />Easement that, except as specifically set forth herein, all housing, commercial and industrial <br />development rights that are now or hereafter allocated to, implied, reserved or inherent in the <br />Property, are terminated and extinguished, and may not be used on or transmitted to any portion <br />of the Property, as it now or hereafter may be bound or described, or to any other property. <br /> <br />2. Statement of Purpose <br /> <br />It is the primary purpose of this Agricultural Conservation Easement to enable the <br />Property to remain in agricultural use by preserving and protecting its agricultural soils and <br />agricultural viability and productivity. Except as specifically permitted herein, no activity that <br />would impair the actual or potential agricultural use of the Property shall be permitted. To the <br />extent that the preservation and protection of the natural, historic, recreational, habitat or scenic <br />values referenced in this Conservation Easement are consistent with the primary purposes stated <br />above, it is within the purpose of this Conservation Easement to also protect those values, and no <br />activity that would significantly impair those values shall be permitted. <br /> <br /> As authorized in the Uniform Conservation and Historic Preservation Act, N.C. Gen. <br />Stat. § 121-34 et seq., this Conservation Easement is perpetual; It restricts the Grantor ’s property <br />in perpetuity; and it is enforceable by Grantee against the Grantor, their representatives, heirs, <br />successors and assigns, lessees, agents, and licensees. <br /> <br />3. Rights and Responsibilities Retained by Grantor <br /> <br />Notwithstanding any provisions of this Conservation Easement to the contrary, the <br />Grantor reserves to and for itself and its successors all customary rights and privileges of <br />ownership, including the rights to sell, lease, and devise the Property, provided such transaction <br />is subject to the terms of this Conservation Easement (specifically including the restrictions set <br />Docusign Envelope ID: F68C289B-897D-4E9C-8B77-C5477012992E